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The cryptocurrency sector is experiencing an uptick in activity from large holders of digital assets, better known as whales. Over the past week, several projects have seen a notable uptick in not just whale activity but in the number of transactions those whales are making, with many of the trades being of very high value—$100K or more. This is, in part, why I say the Bitcoin price is bullish....
In a troubling indication for the AAVE community, a number of the cryptocurrency’s large holders, commonly called “whales,” have recently sold off substantial portions of their holdings. This is prompting some in the community to worry about a potential downturn for the decentralized finance (DeFi) token. The latest sell-off seems to be part of a broader move across the cryptocurrency market...
In a recent development that has caught the attention of the cryptocurrency community, #PumpFun, a well-known individual in the Solana (SOL) ecosystem, seems to have quietly sold a large amount of SOL tokens in recent days. The latest transactions indicate that #PumpFun has offloaded 65,284 SOL, worth a remarkable $8.22 million. This has sparked concern, apparently in the cryptocurrency...
In a strange occurrence, a hacker was able to capture 2,930 ETH (worth about $5.5 million at the time) from zkLend but has now lost all that money due to falling for a phishing website. The hacker, who was trying to be a “good actor” and not too different from a law enforcement agency that seizes stolen cryptocurrency, transferred the stolen funds through a series of transactions to TornadoCash...
Synthetix’s stablecoin, sUSD, has dipped yet again—this time by 4.6%—in just the last 24 hours, and is now sitting at a value of $0.916. With this new significant drop, sUSD is now pegged over 8% off where it should be. With this new serious stability issue that sUSD is dealing with, many Twitter Communities and Discord Groups across Web3 are speculating about the future of that ecosystem. While...
In just 10 days from launch, PumpSwap—a decentralized exchange (DEX) on the Solana blockchain—reached $10 billion in transaction volume, thanks to impressive growth and market demand. This unfathomable rise has seized the attention of the DeFi community and raised questions about what it means for Solana-based DEXs to compete with already established platforms like Raydium. PumpSwap’s fast...
Following a slow and steady recovery, MKR saw a little setback last weekend due to a bearish interception. Although the bulls are technically back in control as the demand level continues to rise. February marked a temporal halt in MKR’s mid-term bearish after posting several losses in a year. The bounce from $778 brought a major relief as it increased to over $1,700 within a month. It later lost...
Ethereum is back in a downward slope following notable losses in the past week, although it appears strong today. An expansion from the current trading level should determine the next major move. Following last month’s trading, Ethereum took a temporal break after dipping to its lowest level for the first time in a year. This brought little positive action in the market while recovering, but the...
In the constantly changing realm of digital currency, the whales—the very large wallets controlled by either seasoned individual investors or institutional players—often provide a clue to the emerging trends and new market sectors that are developing. In the last 24 hours, these large wallets have been moving a lot of money around and have been buying a wide variety of tokens. Those tokens might...
Ethereum’s recent price movement reveals a lack of strong support around its current price level. Many investors are tentative about re-engaging at these levels. The cost basis distribution of Ethereum shows minimal buying interest around the current price. There is no activity to speak of from the addresses that hold Ethereum at a $1.8K cost basis. The addresses that would need to show activity...