Binance Square
Home
Notification
Profile
Trending Articles
News
Bookmarked and Liked
Creator Center
Settings
LIVE
LIVE
TopCryptoNews
--・11.6k views
🔥 298,000 Ethereum (ETH) in 24 Hours, What's Happening? There is a growing demand for Ethereum (ETH) on centralized trading platforms as the approval of spot ETF is driving bullish sentiments. According to CryptoQuant’s Head of Research Julio Moreno, Ethereum demand has spiked significantly. 🔸 Ethereum Buying Breaks Major Record As Moreno pointed out, Ethereum buying by permanent holders marked the second highest on record on June 13 with a total of 298,000 ETH acquired. Ethereum as a digital currency is not new to intense buying activity overall. Besides this recent spike in buying activity, Ethereum’s highest buying date ever came last September 11 when a total of 317,000 ETH were acquired in 24 hours. 🔸 Ethereum demand has spiked. 💬 Buying by permanent holders was the second highest on record yesterday: 298K ETH. The record daily buying was last September 11: 317K ETH. — Julio Moreno The explanation for this increased buying momentum is not far-fetched. Prior to the entry of institutional capital that might showcase a high affinity for spot Ethereum ETF, most retail buyers are taking positions as needed. This is a major coping mechanism for the intense liquidity war that might be activated very soon. The ongoing accumulation will grant current holders a major headstart should the price of Ethereum make a push toward new highs. One intriguing trend as seen in Ethereum is the price slump over the past week. The coin is down by 7.60% over the trailing 7-day period and the June 13 accumulation comes at a time when the coin flashed a major discount. The accumulation has sparked a mild trend reversal, jumping by 0.6% at the time of writing to $3,519.20. 🔸 What To Watch Out For In Ethereum Besides the numerous upgrades the Ethereum protocol has welcomed in the past year, the most important event to watch out for is the approval of S-1 registrations for the spot Ethereum ETF product. $ETH #ETH #Ethereum {spot}(ETHUSDT)

🔥 298,000 Ethereum (ETH) in 24 Hours, What's Happening?


There is a growing demand for Ethereum (ETH) on centralized trading platforms as the approval of spot ETF is driving bullish sentiments. According to CryptoQuant’s Head of Research Julio Moreno, Ethereum demand has spiked significantly.

🔸 Ethereum Buying Breaks Major Record

As Moreno pointed out, Ethereum buying by permanent holders marked the second highest on record on June 13 with a total of 298,000 ETH acquired.

Ethereum as a digital currency is not new to intense buying activity overall. Besides this recent spike in buying activity, Ethereum’s highest buying date ever came last September 11 when a total of 317,000 ETH were acquired in 24 hours.

🔸 Ethereum demand has spiked.

💬 Buying by permanent holders was the second highest on record yesterday: 298K ETH.
The record daily buying was last September 11: 317K ETH. — Julio Moreno

The explanation for this increased buying momentum is not far-fetched. Prior to the entry of institutional capital that might showcase a high affinity for spot Ethereum ETF, most retail buyers are taking positions as needed. This is a major coping mechanism for the intense liquidity war that might be activated very soon.

The ongoing accumulation will grant current holders a major headstart should the price of Ethereum make a push toward new highs. One intriguing trend as seen in Ethereum is the price slump over the past week.

The coin is down by 7.60% over the trailing 7-day period and the June 13 accumulation comes at a time when the coin flashed a major discount. The accumulation has sparked a mild trend reversal, jumping by 0.6% at the time of writing to $3,519.20.

🔸 What To Watch Out For In Ethereum

Besides the numerous upgrades the Ethereum protocol has welcomed in the past year, the most important event to watch out for is the approval of S-1 registrations for the spot Ethereum ETF product.

$ETH #ETH #Ethereum

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
Replies 4
Explore the lastest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Relevant Creator
LIVE
TopCryptoNews
@TopCryptoNews

Explore More From Creator

🤯 Shiba Inu Investors Suffer Losses Shiba Inu, once dubbed the “Dogecoin killer,” has experienced significant price fluctuations recently. After initially achieving notable gains and becoming the second-largest meme coin, SHIB has seen a deep decline post-March despite its earlier high trading volumes. The coin’s volatile nature has now drawn significant attention to investor actions. 🔸 What Are Current Investor Trends? Recent drops in Shiba Inu’s price, largely influenced by Bitcoin‘s downturn, have pushed the meme coin to its lowest levels in several months. This decline has resulted in substantial losses for investors, who missed out on potential profits. The Global In/Out of the Money (GIOM) indicator revealed that approximately 66.75 trillion SHIB was bought at prices between $0.00002100 and $0.00002500. If the price had remained stable, the $1.38 billion supply could have yielded significant gains. 🔸 How Has the Market Impacted SHIB? Shiba Inu’s value dropped below the previously mentioned levels, trading around $0.00002071 at the time of reporting. Additionally, its RSI value fell to 40.58, highlighting a weakening buying pressure. Typically, an RSI below 50 indicates a shift from buying to selling pressure in the market. Key Investment Insights – Monitor SHIB’s RSI value to gauge market sentiment. – Observe the $0.00002093 support level for potential consolidation. – Be cautious of further declines if support is not regained. 🔸 What Can Investors Expect? Shiba Inu’s price has been fluctuating between $0.00002835 and $0.00002093. Although investors anticipated a breakout, SHIB is currently trading at $0.00002065. A failure to reclaim support soon could see prices drop further to $0.00001600 or even $0.00001473. However, if the coin manages to regain the $0.00002093 support level, it may start consolidating again, potentially offering new profit opportunities and alleviating bearish sentiments. $SHIB #SHIB #Shibainu
--
💥 Analyst Identifies Crucial Bitcoin Levels Bitcoin‘s price has recently surpassed the $71,000 mark several times but failed to reach $73,000 due to intense selling pressure. This pressure has resulted in a significant correction, causing the price to drop sharply. Despite this downturn 🔸 What Does the Daily Chart Reveal? TradingRage analyst’s insights emphasize critical price levels and predict potential future movements for Bitcoin. On the daily chart, Bitcoin has struggled to maintain its position above $66,000. The analyst interprets this as a correction phase, which is not a promising sign. The failure to break out of a descending channel formation is seen as a false breakout, adding to the bearish sentiment. During this period, Bitcoin’s Relative Strength Index (RSI) value has dropped below 50, suggesting increasing dominance by sellers. This scenario has fueled fears of a further downward spiral in the market. Currently, Bitcoin is holding at the support level of $60,000. 🔸 How Does the 4-Hour Chart Compare? Conversely, the 4-hour chart for Bitcoin presents a slightly more optimistic view. Although the price dipped just below the horizontal channel’s support level, it has shown signs of recovery. Should Bitcoin continue to move within this channel, it could potentially retest the $72,000 resistance area. However, a sustained break below this channel could lead to a deeper price decline. 🔸 Based on the analysis, here are some key takeaways for traders: Monitor the $66,000 level closely as it serves as a critical support point on the daily chart.A drop in RSI below 50 could indicate increasing selling pressure and potential further declines.Watch for false breakouts from descending channels, which may mislead short-term trading decisions.In the 4-hour chart, a recovery within the horizontal channel could provide opportunities to test higher resistance levels.A sustained break below the horizontal channel can signal a deeper downward trend, necessitating cautious trading. $BTC #BTC #Bitcoin
--
👀 Terra’s Future After $4.47B SEC Settlement The Terra network and its leader, Do Kwon, once reached the top of the crypto world but collapsed within days in May 2022, wiping out the savings of many everyday investors. In February 2023, the U.S. Securities and Exchange Commission (SEC) sued Kwon and his company, Terraform Labs, for selling unregistered securities and defrauding investors during Terra’s dramatic collapse. Recently, Kwon and Terraform settled their SEC civil fraud case, agreeing to pay $4.5 billion in penalties and disgorgement. The settlement, approved by District Court Judge Jed Rakoff of the Southern District of New York on June 13, requires Terraform Labs to cease operations immediately and seek approval for a Chapter 11 liquidation plan in its bankruptcy case. 🔸 Terraform Labs Winds Down Operations Amid Legal Defeat Terraform Labs’s current CEO, Chris Amani, asked the community on Wednesday to take over the reins of the Terra network as the company winds down. “[Terraform Labs] always intended to dissolve at some point, and that point is now,” Amani said on X (formerly known as Twitter). “We will be winding down operations completely.” The SEC scored a major victory against Kwon and Terraform Labs two months ago when a jury found the company and its founder had conducted securities fraud through misrepresentations regarding Terra’s success and UST/LUNA stability. Before this legal defeat, Terraform Labs and its community were well-positioned to advance the Terra ecosystem, according to Amani. However, after the significant court loss, the CEO indicated that the company “can no longer operate.” 🔸 Terraform Labs to Sell Key Projects and Transition to Community Control Terraform Labs CEO, Chris Amani, announced that the company will sell several key projects, including the portfolio manager Pulsar Finance, the Cosmos wallet Station, and the Enterprise Protocol, which is used for creating DAOs within the Cosmos ecosystem. $LUNC #LUNC #TERRA
--
📊 2 cryptocurrencies to reach $5 billion market cap in the second half of the year 🔸 Aptos (APT) Aptos (APT) is on the verge of reaching the $5 billion market cap milestone due to its remarkable performance and expanding ecosystem. Recently, Aptos achieved a record daily transaction volume, outpacing networks like Solana (SOL) and Sui (SUI) with its impressive 32,000 transactions per second (TPS) capability. The surge in activity is largely attributed to the game “Tapos Cat,” which significantly boosted network usage. Despite the campaign’s end, Aptos’s integration with major partners like Microsoft (NASDAQ: MSFT), Google Cloud, and Universal Pictures demonstrates its growing influence. Additionally, Aptos has integrated Chainlink’s CCIP and Data Feeds to boost decentralized app development. Currently priced at $7.90 with a market cap of $3.56 billion, Aptos is well-positioned to surpass the $5 billion mark. 🔸 Render (RNDR) Render (RNDR) is another cryptocurrency poised to break the $5 billion market cap barrier. It offers innovative blockchain-based rendering services for content creators and developers. Render has seen a steady upward trajectory, with a 23% increase in the past month and a 5% rise in the last week. The success of Nvidia (NASDAQ: NVDA) in the AI sector has bolstered confidence in AI tokens like RNDR, leading to substantial gains Render continues to expand its ecosystem through strategic partnerships and integrations with major digital content platforms and decentralized applications (dApps). Currently valued at $8. 02, Render has a market cap of $3.12 billion and strong potential to surpass its previous all-time high. Despite recent bearish trends, Render’s unique position in digital content creation and ongoing technological advancements could propel it to new heights. The past week has witnessed significant downturns in the cryptocurrency market, with overall valuations sliding by 20% and Bitcoin (BTC) by 5%. $APT $RNDR #APT #RNDR
--
⚠️ 6 Cryptocurrencies To Avoid Trading This Week As Token Unlocks Loom Token unlocks refers to a phenomenon that ensures the release of previously locked tokens into the market, ramping up the supply. This stages as a potentially bearish event, prompting traders to steer clear of trading certain cryptos. Arbitrum (#ARB ) Trading at $0.9227, down 2.99% over the past day, ARB remains at the top of the list, poised to witness token unlocks worth $86.23 million. Data from the Token Unlocks App shows that 96.13 million ARB, equivalent to 3.32% of the circulation supply, will be unlocked on June 16. This has caused speculations over a potential waning price trajectory for ARB ahead. Space ID (#ID ) Meanwhile, ID traded at $0.5654, down 4.15% over the past day. The crypto stands firm to experience a token unlock of 78.49 million ID, worth $44.37 million, equivalent to 18.23% of the circulating supply on June 22. This significant unlock could trigger a slumping price action for ID ahead. Pixels (#PIXEL ) The PIXEL crypto witnessed a 3.84% plunge to $0.3621 today, readying for a $19.65 million worth of token unlock. Notably, 54.38 million PIXEL, equal to 7.05% of the circulating supply, will be unlocked on June 19. ApeCoin ($APE ) APE traded at $1.05 today, down 2.78% from yesterday. The token prepares for an unlock of $16.35 million worth of coins, equivalent to 2.48% of the circulating supply. A total of 15.60 million APE will be unlocked on June 17, igniting investor concerns about the token’s future price movements. Manta Network ($MANTA ) MANTA traded at $1.27, correcting 8.49% over the past day. The token prepares for a $10.8 million worth of unlock on June 18. Data suggests that 7.87 million MANTA, worth 2.42% of the circulating supply, will be released in the market. Render ($RNDR ) RNDR experienced a 2.56% fall to $8.05 today. The token readies for a $6.12 million worth of unlock on June 16. 760.57K RNDR coins, equivalent to 0.20% of the circulating supply, will be unlocked on the abovementioned date.
--

Latest News

Ripple Plans To Launch Stablecoin In 2024 Amid SEC Criticism
--
LayerZero Labs CEO Bryan Pellegrino Announces Release of Temporary Witch List
--
Stablecoin Protocol Ethena's Reserve Fund Reaches $44.5 Million
--
Smart Money Inflows in Ethereum Network Tracked
--
Slerf Collaborates With NFT Holders To Develop Community Committee And DAO
--
View More
Sitemap
Cookie Preferences
Platform T&Cs
Sitemap
Platform T&Cs
ba-one-trust-cookie