AI platform coins are emerging as a dominant force in the cryptocurrency landscape, effectively becoming the new breed of meme coins.

Over the past 18 months, these coins have demonstrated remarkable resilience and growth, often outperforming even Bitcoin during market fluctuations.

Every minor uptrend in Bitcoin’s price curve sees AI and meme coins not only rise the most but also decline the least during downturns, establishing their status as robust players in the crypto arena.

The Future of AI Applications and Crypto Integration

As artificial intelligence applications mature, they are set to bring significant innovations, drawing increased attention to AI-focused cryptocurrencies. AI coins are unique in that their value is driven largely by narrative, hype, and emotional investment, making them the most potent and dynamic meme coins.

With substantial hot money inflows and numerous opportunities for early miners, these coins are positioned to capture significant market share. Several high-profile projects are pushing the boundaries of decentralized AI and GPU computing power platforms. Notable examples include Depin AI projects, which are expected to attract funding in the tens or even hundreds of billions of dollars. Esteemed institutions like Stanford, MIT, and Oxford are seeing their graduates and professors venture into blockchain to develop these platforms, signaling a promising future for AI in the crypto space.

RACA AI’s Strategic Bet on 4090 GPU Graphics Card

RACA AI has strategically chosen 4090 GPU graphics card to leverage their superior AI compute inference capabilities. This decision is grounded in several compelling reasons:

Optimal Cost-Effectiveness for zk-Proof Compute: 4090 GPUs offer the best cost-effective solution for zk-proof compute, outperforming other models like H100 GPUs, which are often excluded from mining.

Leading Inference Performance: The 4090 GPUs excel in inference tasks, capturing liquidity and narratives from leading blockchain AI compute inference platforms.

Advanced Features: With support for FP8 and superior memory size, the 4090 GPUs can handle unquantified 70B models with ease.

Reliability and Stability: Designed for long-term operation, these GPUs ensure high reliability for continuous AI compute tasks.

Cost-Effectiveness: Offering higher performance at lower costs, the 4090 GPUs are an economical choice for both AI compute inference and zk-proof compute tasks.

The Potential of AI Compute Inference Capabilities

The future of AI applications hinges on large-scale models and innovative inference applications. According to Menlo Ventures, nearly 95% of AI spending is currently on runtime, not pre-training stages. This trend points to a future where efficient deployment and operation of AI models are paramount. As technology advances, companies are adopting optimization techniques to enhance inference efficiency, indicating a significant shift towards flexible and efficient AI applications.

Market research underscores the rapid growth of the AI inference market. Reports from Market Research Future and Grand View Research predict the global inference market will reach around $100 billion by 2025, driven by advancements in AI technology and expanding application scenarios. IDC’s forecast places the market at $83.2 billion by the same year, highlighting the broadening of inference application scenarios as a primary growth driver.

RACA AI: A Leader in the Decentralized AI Ecosystem

RACA AI, initiated by the ‘Elon Musk’s Mother & Koda NFT’ community, operates as a crypto ‘dApp Store’ for AI apps and games. With significant backing from OKX Ventures and Consensys Mesh Tachyon, RACA AI has built one of the largest web3 communities. Over the past nine months, it has recorded a trading volume equivalent to 3.7 million units of BNB Coins.

AI platform coins, exemplified by projects like RACA AI, are not just another passing trend. They represent the convergence of cutting-edge AI technology and the decentralized ethos of blockchain. With their ability to capitalize on the latest advancements and capture significant market share, AI coins are set to redefine the landscape of cryptocurrency, offering vast opportunities for innovation, investment, and growth in the coming years.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any AI stocks.

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The value of $ALICE has surged by over 71% in the past seven days, breaking through previous resistance levels with impressive “god candles” that reflect the token’s growing strength. 

This bullish momentum has seen $ALICE surpass the $2 mark, suggesting a potential rally towards $4 if it maintains this level.

Despite this robust performance, $ALICE faced a temporary setback today. Following the significant price increase, the My Neighbor Alice Vesting wallets deposited 2.09 million $ALICE (valued at $5.44 million) into Binance, leading to a 16% decline in the token’s price. 

This influx of tokens into the market likely caused some selling pressure, contributing to the price drop.

The $ALICE price increased by more than 70% today.

After the price increased, the My Neighbor Alice Vesting wallets deposited 2.09M $ALICE ($5.44M) to #Binance.https://t.co/0Lreo6muaD pic.twitter.com/d3ExBaeQxw

— Lookonchain (@lookonchain) June 3, 2024

$ALICE Long Term Holders Stay Strong, Holding Position 

Long-term traders, however, remain unfazed by these short-term fluctuations. Approximately 76% of $ALICE holders have maintained their positions for at least a year, indicating a strong belief in the token’s long-term potential and resilience against temporary market dips.

Currently trading at $2.188, $ALICE ’s ability to hold above the $2 mark will be crucial in determining its next move. The dedicated development team behind My Neighbor Alice continues to introduce new features and enhancements, which are likely to support the token’s value and appeal.

As the market watches closely, the next few days will be critical in assessing whether $ALICE can sustain its upward trajectory and possibly reach the anticipated $4 target. Traders and investors will be keenly observing how the token performs in response to market dynamics and ongoing development efforts.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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After months of stagnation and sideways price movement, Bitcoin is starting to show signs of speculative activity once again.

This renewed interest comes on the heels of a false alarm concerning the distribution of Mt. Gox supply, providing a useful lens for analyzing market reactions using on-chain data.

After months of apathy and sideways price action for #Bitcoin, the first glimmers of speculative activity is beginning to re-appear.

The market responded to a false alarm regarding the distribution of Mt.Gox supply, however, this offers a lens into how we can consider these… pic.twitter.com/u7ShEJMdCY

— glassnode (@glassnode) June 4, 2024

To identify periods of robust Bitcoin price performance, we examine the number of trading days within a 90-day window where weekly, monthly, and quarterly gains exceed 20%.

Currently, only 5 of the last 90 days have met this criterion. In previous cycles, this count ranged between 18 and 26 days, indicating that the current market is more measured compared to historical bull runs.

To highlight periods of particularly strong #Bitcoin price performance, we can count the number of trading days within a 90d window where the performance across Weekly, Monthly and Quarterly timeframes exceeds +20%.

As of current, only 5 of the last 90 days have reached this… pic.twitter.com/XzXKEf2wDy

— glassnode (@glassnode) June 3, 2024

Bitcoin ETF Net Inflow Totals $105 Million 

On June 3, 2024, the net inflow for Bitcoin ETFs totaled $105 million. This marks the 15th consecutive trading day of positive net inflow, a notable streak.

Among major players, Fidelity (FBTC) led the day with an inflow of $77 million. Meanwhile, Grayscale (GBTC) and BlackRock (IBIT) both reported zero net flow for the day.

🚨 $BTC #ETF Net Inflow June 3, 2024: +$105M!

• The net inflow has been positive for 15 consecutive trading days.

• Both #Grayscale (GBTC) and #BlackRock (IBIT) experienced the single-day net flow of $0.

• The highest inflow of the day belonged to #Fidelity (FBTC) with… pic.twitter.com/z9ILgWNk6Z

— Spot On Chain (@spotonchain) June 4, 2024

This data underscores a growing interest in Bitcoin ETFs, signaling potential bullish sentiment despite the overall measured market activity.

As speculative activities re-emerge, it will be crucial to monitor on-chain data and trading patterns to anticipate further market movements.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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After a surge that put many holders in profit, the price of PEPE has declined by 3% today as traders start to take profits. This shift is marked by a significant transaction from a major whale, who just deposited 365.96 billion PEPE (worth $5.3 million) into Binance.

This whale originally withdrew the same amount of PEPE from MEXC on December 13 and December 16, 2023, when the value was $494,000.

In less than six months, this savvy trader turned a $494,000 investment into $5.3 million, achieving a staggering profit of $4.82 million and an ROI of 976%.

A whale deposited 365.96B $PEPE ($5.3M) into #Binance for profit just now!

He withdrew 365.96B $PEPE ($494K at the time) from #MEXC on Dec 13 and Dec 16, 2023.

He turned $494K into $5.3M in less than 6 months, with a profit of $4.82M and an ROI of 976%!https://t.co/HXCrl0QBxm pic.twitter.com/jeFRd6NyWK

— Lookonchain (@lookonchain) June 4, 2024

Price Decline Hits Memecoin, PEPE 

The decline in PEPE’s price comes as no surprise given the substantial profits realized by early investors. As more traders begin to cash in, the market is seeing increased selling pressure, which is impacting the token’s short-term price movement. 

Despite this, the long-term outlook for PEPE remains influenced by the broader market trends and the community’s engagement with the token.

PEPE’s recent volatility highlights the risks and rewards inherent in trading meme coins, where rapid gains can quickly lead to significant profit-taking and subsequent price drops. Traders and investors should remain cautious and stay informed about market conditions to navigate these fluctuations effectively. 

In summary, while PEPE has experienced a minor pullback due to profit-taking, the impressive returns realized by early adopters underscore the potential opportunities within the cryptocurrency market. As always, vigilance and strategic planning are key to capitalizing on these market dynamics.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Algorand has carved a niche among Layer 1 blockchains by offering high capacity, rapid finality, low transaction fees, and a commitment to being carbon-neutral.

This positions it as a formidable contender in the blockchain ecosystem, supported by impressive usage metrics and user confidence.

Active User Base and Network Growth

Algorand boasts over 54,000 daily active addresses, surpassing the activity levels of networks like Dogecoin (52,000) and Avalanche (48,000).

This ranks Algorand fifth among the top protocols in terms of active users. The network has over 21 million addresses with a balance, reflecting gradual and consistent growth.

Let’s Take a Look at Algorand

Algorand distinguishes itself from other Layer 1 blockchains with its high capacity, fast finality, low fees, and carbon-neutral approach.

Here’s What's Happening On-Chain👇 pic.twitter.com/wfZsf5vHeZ

— IntoTheBlock (@intotheblock) June 3, 2024

Transaction Activity

Transaction volume on Algorand has seen a substantial increase, doubling compared to late 2023. The current 7-day average is 1.36 million transactions per day.

Notably, 96.43% of these transactions are under $1, indicating high usage for automated transactions and smart contract interactions. Algorand’s transaction fee of just 0.001 $ALGO makes it an economical choice for conducting a large volume of transactions.

Holder Patterns and Market Confidence

On average, $ALGO tokens are held for nearly 11 months, which is longer than Avalanche’s 5.9 months but slightly less than Cardano’s average of one year. This long holding period suggests a high degree of confidence among investors.

Furthermore, large holders possess 20.7% of the total supply, up from 19.4% in May. This ongoing accumulation by significant stakeholders is a positive sign for the network’s growth and potential price appreciation.

Despite these positive indicators, the majority of $ALGO holders are currently at a loss, with only 9% in profit at current prices. This reflects slower price development, despite strong network fundamentals.

Conclusion

Algorand’s strong fundamentals, including a growing active user base, increasing transaction activity, and confidence from large holders, highlight its potential.

However, the slow price growth means that most holders are currently at a loss. Nonetheless, Algorand’s unique features and consistent development efforts indicate a promising future for the network.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The price of $GME on Solana has skyrocketed by more than 300% after a recent post by @TheRoaringKitty, a prominent figure in the GameStop trading community. 

This surge in price has triggered the limit order of a savvy trader, who sold 3.5 million $GME for 260 $SOL, valued at approximately $43,000, at a price of $0.01226 per token.

This trader has demonstrated a keen ability to buy $GME at low prices and sell at highs, capitalizing on market movements effectively.

Despite selling a significant amount, the trader still holds 108 million $GME, worth about $1.5 million, with an estimated total profit of around $1.37 million.

Since @TheRoaringKitty posted again, the price of $GME on #Solana has risen by more than 300%.

The limit order of this smart trader has been triggered, selling 3.5M $GME for 260 $SOL($43K) at $0.01226.

This smart trader is good at buying $GME at low prices and selling at highs!… pic.twitter.com/WyubApyLq9

— Lookonchain (@lookonchain) June 3, 2024

$GME Trading Volume Spikes Over 1,500% In The Last 24 Hours

In addition to the price increase, $GME trading volume on Solana has spiked by an astonishing 1500% in the past 24 hours, reflecting heightened market activity and interest in the token.

This remarkable growth highlights the influence of social media personalities on cryptocurrency markets and the importance of strategic trading.

As $GME continues to attract attention, traders and investors will be closely monitoring its performance to capitalize on future opportunities.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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In the past week, JASMY Coin has experienced a remarkable surge of 40%, extending its gains to an impressive 88% over the past month.

This bullish trend has attracted significant attention, particularly from DWF Labs, which recently deposited another 12 million JASMY ($461,000) to Binance at $0.03845 per token.

Over the last three days, DWF Labs has been actively unloading JASMY on Binance, depositing a total of 97 million JASMY ($3.3 million).

This strategic unloading has been consistent, with the last transaction occurring just 12 hours ago. Each deposit by DWF Labs has led to a short-term price drop, indicating a possible influence on the market dynamics of JASMY.

#DWFLabs has deposited 97M $JASMY ($3.3M) to #Binance in the past 3 days!

• DWF Labs unloaded $JASMY daily for the past 3 days (last txn was 12 hours ago).• There was a short-term price drop after each deposit ⚠️.• Current holding: 24M $JASMY ($841K).• Est. total profit:… https://t.co/QbwtTcHE0H pic.twitter.com/H2jYfFLUxV

— Spot On Chain (@spotonchain) June 3, 2024

DWF Labs Still Holds 24 Million JASMY Token

Despite these fluctuations, DWF Labs’ holdings remain substantial. The firm currently holds 24 million JASMY, valued at approximately $841,000. Their strategic transactions have resulted in an estimated total profit of $9.49 million, reflecting a remarkable 307% gain.

The recent activities of DWF Labs highlight the significant impact large-scale transactions can have on cryptocurrency prices, particularly in short-term scenarios.

As JASMY continues to gain traction, market participants will be closely monitoring such influential players and their trading patterns to anticipate future price movements.

Overall, the surge in JASMY Coin and the active trading by DWF Labs underscore the dynamic and often volatile nature of the cryptocurrency market. Investors and traders need to stay vigilant and informed about such developments to navigate the market effectively.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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In a significant development, Grayscale has reportedly commissioned Flow Traders to sell 5,812 ETH, valued at approximately $21.75 million.

This move is speculated to be for covering the management fees of the Ethereum Trust Fund.

Grayscale imposes a 2.5% annual management fee on the Ethereum Trust (ETHE).

With the current holdings standing at 2.97 million ETH, this fee structure generates an impressive revenue of 74,000 ETH annually, equating to about $280 million. Such a substantial income highlights the lucrative nature of managing the ETHE.

https://x.com/ai_9684xtpa/status/1796482220049518603?t=7-EbnQ68eUVB8p3FiMaUVQ&s=19

Grayscale Has Transferred 34,270 ETH Since July Last Year 

Since July 2023, Grayscale has transferred 34,270 ETH to Flow Traders, valued at $88.22 million. Based on their past operations, it is anticipated that these transferred ETH will be gradually recharged to various exchanges over the coming days.

This strategy of transferring ETH to Flow Traders and subsequently distributing them across exchanges indicates a methodical approach by Grayscale to manage liquidity and ensure smooth operations.

The consistent revenue from management fees underscores the profitable business model Grayscale employs within the cryptocurrency space.

Grayscale’s recent actions and financial strategies provide a glimpse into the operational mechanics of one of the largest crypto asset managers.

The company’s ability to generate significant revenue through management fees, coupled with its methodical approach to liquidity management, underscores its influential position in the cryptocurrency market.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Traders are being cautioned to exercise vigilance when dealing with tokens promoted or launched by celebrities.

A recent report from Lookonchain revealed that Caitlyn Jenner has earned 2,381 $SOL (approximately $405,000) by launching twelve meme coins on the Solana blockchain over the past four days.

On May 27, Caitlyn Jenner (@Caitlyn_Jenner on Twitter) launched a token named $jenner, initially purchasing 44.56 million $jenner tokens for 1.3 $SOL ($221) on Pump.fun. She later sold these tokens for 253 $SOL , making a profit of 252 $SOL ($43,000).

Be wary of tokens launched by celebrities.🚨

We fund that @Caitlyn_Jenner earned 2,381 $SOL ($405K) by launching 12 #MEMEcoins on #Solana in the past 4 days.

1/ A thread. 🧵 pic.twitter.com/zqVaMjhjqf

— Lookonchain (@lookonchain) May 31, 2024

The profits were then transferred to two addresses, one of which, “85feY8…soLxYd,” is a Binance deposit address. Over the past four days, multiple addresses have sent $SOL to this same Binance deposit address, indicating that these addresses were likely created by Jenner.

2,381 SOL Made From Selling Off Memecoins

Further tracking revealed that Caitlyn Jenner had set up numerous new addresses and launched twelve different meme coins. She then bought these meme coins herself and sold them for profit. The total profit from these activities is around 2,381 $SOL ($405,000).

Jenner’s lack of effort to disguise her activities became evident as she transferred all profits to the same Binance deposit address. This pattern highlights the need for traders to be cautious, as celebrities might use their influence to promote and profit from newly launched tokens, potentially leaving unsuspecting investors at a loss.

The crypto community is advised to thoroughly research and verify the authenticity and credibility of any new token, especially those tied to high-profile individuals, to avoid falling prey to potentially manipulative schemes.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The crypto market has recently seen an influx of celebrity meme coins, with the trend kicking off on the Solana network using the JENNER ticker.

Olympian and media personality Caitlyn Jenner began aggressively promoting this cryptocurrency on X shortly after its inception, which led to concerns that her account might have been compromised.

This guy made $488K in less than 5 hours by trading celebrity tokens $Jenner, a gain of 130x!

He spent 1 $ETH($3,762) to snip 429.28M $Jenner(43% of the total supply) on #Ethereum and sold 393M $Jenner for 89 $ETH($338K).

He currently has 36.3M $Jenner($150K) left.… pic.twitter.com/7hTVKSjUtB

— Lookonchain (@lookonchain) May 30, 2024

According to on-chain data from Lookonchain, one trader made a staggering $488,000 in less than five hours by trading celebrity tokens $Jenner, achieving a remarkable gain of 130 times their initial investment. 

This trader spent 1 ETH ($3,762) to acquire 429.28 million $Jenner tokens (representing 43% of the total supply) on Ethereum. They then sold 393 million of these tokens for 89 ETH ($338,000) and currently hold 36.3 million $Jenner tokens, valued at $150,000.

Many traders lost money by trading the celebrity token $jenner on #Solana, even the trader who previously made $3.7M in 5 days on $BOME .

This trader spent 2,620 $SOL to buy $BOME and sold it for 21,159 $SOL, making 18,539 $SOL($3.7M) on $BOME in 5 days.

Then he spent 1,208 $SOL… pic.twitter.com/qzytwOOhAo

— Lookonchain (@lookonchain) May 30, 2024

Some Losses Recorded In These Celebrity Tokens 

However, the venture into celebrity tokens has not been profitable for everyone. Many traders faced losses while trading the $Jenner token on Solana. This includes a trader who had previously made $3.7 million in five days by trading the $BOME token. 

This trader initially spent 2,620 SOL to buy $BOME and sold it for 21,159 SOL, making a profit of 18,539 SOL ($3.7 million).

Encouraged by this success, the same trader invested 1,208 SOL to buy $Jenner but could only sell it for 423 SOL, suffering a loss of 785 SOL ($133,400) within just one day. 

This scenario underscores the volatile nature of meme coins, particularly those backed by celebrity endorsements. While some traders manage to achieve extraordinary gains, others can incur significant losses. As always in the crypto market, careful consideration and risk management are crucial.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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After enduring its deepest correction since the FTX lows, with a decline of 20.3%, Bitcoin has rebounded, reaching $71,000 on May 20, 2024.

This remarkable recovery places Bitcoin near its all-time high and showcases a pattern reminiscent of the 2015-2017 bull market.

The pattern closely aligns with that of the previous bull market, highlighting a historical consistency in Bitcoin’s performance cycles.

One of the most reliable indicators of Bitcoin’s future price movements has been the behavior of wallets holding at least 10 BTC. Historically, when these wallets accumulate Bitcoin, it signals a market rise, while their liquidation often heralds extended bear markets. 

🐳📊 Historically, one of crypto's top leading indicators is the collective holdings of wallets with at least 10 Bitcoin (exchanges or otherwise). When they accumulate, cryptocurrencies rise. When they dump, extended bear markets come. What do you think about this chart? pic.twitter.com/U7ZBrdvaUi

— Santiment (@santimentfeed) May 30, 2024

Over the past five months, such wallets have added 154,560 BTC, suggesting strong confidence and a bullish outlook among large holders.

Bitcoin ETF Net Inflow Remain Positive For 12 Consecutive Days

Moreover, Bitcoin ETF net inflows have been positive for 12 consecutive days, totaling $28 million on May 29, 2024. However, the volume of these inflows has declined over the past two days. Grayscale’s GBTC has experienced outflows for two consecutive days, indicating a potential shift in investor sentiment. 

🚨 $BTC #ETF Net Inflow May 29, 2024: +28$M!

• The net inflow has been positive for 12 days but the volume has been low in the past 2 days ⚠️

• #Grayscale (GBTC) experienced outflows for 2 days in a row.

• The single-day inflow of #BlackRock (IBIT) dropped from $102.5M to… pic.twitter.com/A71rjByE9x

— Spot On Chain (@spotonchain) May 30, 2024

In contrast, BlackRock’s IBIT saw a significant drop in single-day inflows, from $102.5 million to $24.6 million, reflecting a more cautious market approach.

Despite these fluctuations, the overall trend points to a robust foundation for Bitcoin’s continued growth. The consistent accumulation by large holders and positive net inflows into Bitcoin ETFs underscore a strong market sentiment. 

As Bitcoin navigates these dynamics, the interplay between institutional investments and the actions of significant holders will be crucial in shaping its future trajectory. The current market conditions and historical patterns suggest that Bitcoin is well-positioned for further advancements, potentially reaching new all-time highs soon.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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In a stunning example of crypto trading prowess, an investor turned a modest $861 investment into a staggering $657,000 within just five hours.

The trader achieved this remarkable feat by purchasing 86.55 million $MOTHER tokens for 5.14 $SOL ($861), which accounted for 8.66% of the total $MOTHER supply.

The Trade Breakdown

The trader initially acquired 86.55 million $MOTHER tokens and later sold 80.41 million of these tokens for 3,035.5 $SOL, equating to approximately $509,000.

This transaction left the trader with 6.14 million $MOTHER tokens, currently valued at $148,000. In total, the trader’s quick moves resulted in a gain of $656,000, representing an incredible return of 762 times the initial investment.

In just 5 hours, this trader turned $861 into $657K, a gain of $762x!

He spent 5.14 $SOL($861) to buy 86.55M $MOTHER(8.66% of the total supply) and sold 80.41M $MOTHER for 3,035.5 $SOL($509K).

He currently has 6.14M $MOTHER left, worth $148K.

He should not be an insider.… pic.twitter.com/8mLAD8aGm8

— Lookonchain (@lookonchain) May 29, 2024

Not an Insider

What makes this story even more compelling is the trader’s background. Before making this profitable trade, the investor had a track record of trading nearly 700 different coins with a win rate of less than 25%, consistently losing money.

This history suggests that the trader did not have insider information but rather capitalized on a fortuitous opportunity.

Context and Implications

This exceptional trading success highlights the volatile and unpredictable nature of the cryptocurrency market, where significant gains can be made rapidly, albeit with considerable risk.

It also underscores the importance of timing and market awareness in crypto trading. The trader’s past performance and this singular success story serve as a reminder that even those with a history of losses can occasionally achieve remarkable profits.

The rapid profit from this trade will likely inspire other traders to look for similar opportunities in the ever-changing crypto landscape, though it also serves as a cautionary tale about the risks involved in such speculative investments.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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HashKey has recently deposited all 624,804 PENDLE tokens, worth $4.28 million, to Binance at a price of $6.765 per token. This move contributed to a 5% decline in PENDLE’s price over the past 24 hours. 

This latest transaction marks the conclusion of HashKey’s third PENDLE trade, netting them a massive profit of $7.21 million, reflecting a 263% gain.

13 hours ago, HashKey Capital deposited all 624,804 $PENDLE ($4.28M) to #Binance.

HashKey is a super smart PENDLE trader who often buys at lows and sells at highs 👇.

So far, the VC has realized an est. total profit of $9.94M (+350%) from 2 PENDLE trades.

When will HashKey buy… pic.twitter.com/UzlRFMSLAo

— Spot On Chain (@spotonchain) May 29, 2024

HashKey has proven to be a strategic PENDLE trader, adept at buying low and selling high. Their overall trading activities with PENDLE have yielded an estimated total profit of $9.94 million, showcasing a remarkable 350% return. Here’s a summary of HashKey’s performance with PENDLE:

First Trade Cycle:

   – Acquisition: HashKey vested 2.714 million PENDLE from Pendle Finance between July 2021 and April 2022 at an average price of $0.399, totaling $1.08 million.

   – Sale: They then deposited these tokens to MEXC at a price of $0.05, resulting in a sale worth $135,000 on June 9, 2022.

Second Trade:

   – Acquisition: HashKey withdrew 2.414 million PENDLE from Gate.io at an average cost of $0.042, totaling $102,000 on November 10, 2022.

   – Sale: These tokens were then deposited to Binance at $1.151 per token, amounting to $2.78 million on July 3, 2023. This trade realized a profit of $2.67 million, representing a 2,662% return.

Third Trade:

   – Acquisition: HashKey withdrew 1.825 million PENDLE from Binance at an average price of $1.502, with an estimated cost of $2.74 million between July 6, 2023, and April 30, 2024.

   – Sale: These tokens were deposited back to Binance at an average price of $5.455 on February 7, April 11, and May 28, 2024, during significant price surges, netting $9.95 million. This trade yielded a profit of $7.21 million, or a 263% return.

HashKey’s strategic approach to trading PENDLE highlights their expertise in timing the market, consistently capitalizing on price fluctuations to maximize profits. Their impressive returns from these trades underscore their position as a savvy player in the PENDLE market.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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The post HashKey’s Profitable PENDLE Trades: A Detailed Analysis appeared first on The Merkle News.

Over the past week, memecoins have outshined Bitcoin, recording over 25% growth as a category. 

Memecoins have outperformed $BTC in the past 7 days, gaining over 25% growth as a category.

Let’s dig into the top 5 memes by market cap. 👇 pic.twitter.com/bxstXHZ483

— Cointelegraph (@Cointelegraph) May 27, 2024

Here’s a look at the top five memecoins by market cap:

Dogecoin ($DOGE ) – Market Cap: $24.8 billion

Created in 2013, Dogecoin remains the largest memecoin. Inspired by the Shiba Inu Kabosu, who recently passed away, DOGE faces significant resistance between $0.166 and $0.171, where 75,500 addresses hold nearly 10 billion DOGE. Overcoming this barrier could see DOGE doubling, with the next resistance at $0.322. 

#Dogecoin is encountering significant resistance between $0.166 and $0.171, where 75,500 addresses have acquired nearly 10 billion $DOGE . However, once this barrier is overcome, #DOGE has the potential to double, with the next key resistance around $0.322 pic.twitter.com/p02Cks63EI

— Ali (@ali_charts) May 28, 2024

Shiba Inu ($SHIB ) – Market Cap: $15.2 billion

Shiba Inu, the second-largest memecoin, initially gained attention by giving 50% of its allocation to Vitalik Buterin. The ecosystem has expanded with the recent launch of Shibarium, a Layer 2 chain.  

PepeCoin ($PEPE) – Market Cap: $6.9 billion

PepeCoin, the third-largest memecoin, has surged 75% in the past week. Launched as a tribute to the Pepe the Frog meme, PEPE reached a record high on May 27.  

DogeWifHat ($WIF) – Market Cap: $3.2 billion

Ranking fourth by market cap, DogeWifHat is a Solana-based memecoin described as “literally just a dog with a hat.”  

Floki Inu ($FLOKI ) – Market Cap: $2.7 billion

Floki Inu, closely trailing DogeWifHat, has gained over 40% in the past week. Launched by SHIB community members and named after Elon Musk’s Shiba Inu, FLOKI recently flipped OP and BONK to become a top 45 project. Rumors of a Coinbase listing are fueling its rise.  

BREAKING: $FLOKI is up 18% in the last 24 hours and just flipped $OP and $BONK to be a top 45 project. It has outperformed $PEPE, $WIF, $DOGE , and $SHIB as the top major #memecoin this week. #Coinbase will list #FLOKI perps on May 30, which is fueling rumors of a Coinbase spot… pic.twitter.com/zdzgYlDkwM

— BITCOINLFG® (@bitcoinlfgo) May 28, 2024

Floki Inu’s impressive performance has led several analysts to predict it could be the main memecoin of this bull run. With Coinbase set to list FLOKI perpetuals on May 30, speculation about a potential spot listing is growing.

Memecoins continue to captivate the market, with each token bringing its unique charm and community-driven growth. As these tokens gain traction, their influence on the broader crypto landscape becomes increasingly evident.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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The post Memecoins Surge, Outperforming Bitcoin: Top 5 Memecoins By Market Cap appeared first on The Merkle News.

SUI has kicked off its first-ever global Hackathon, a move that’s poised to positively impact both its price and the projects within its ecosystem.

Historically, blockchain incentives like these tend to boost market sentiment and project development, and SUI appears to be following this trend.

#SUI has launched their first Hackathon, globally!

Every time a blockchain launches an incentive, it soon has a positive impact on both its price and the projects within it.

Let's wait and see what surprises will come to SUI 🚀https://t.co/SyPy3P4Ck4

— Sui Station (@Sui_Station) May 28, 2024

Amid the fluctuating market conditions, SUI’s Total Value Locked (TVL) has consistently grown, reaching a new milestone of over $1 billion. This steady increase underscores the network’s resilience and the attractiveness of its ecosystem to developers and investors alike.

Several top projects on SUI have been pivotal in driving this growth. Leading the pack is Navi Protocol, boasting a TVL of $261 million. Close behind are Scallop_io with $204 million and CetusProtocol with $164 million. 

Other Notable SUI TBL Contributors 

Other notable contributors include Suilend at $110 million, AftermathFi with $85.1 million, KriyaDEX at $51 million, FlowX_finance with $30.9 million, DeepBook at $29.3 million, HaedalProtocol at $27.7 million, and Turbos_finance with $26.6 million.

⚡️@SuiNetwork's TVL Exceeded $1 Billion@navi_protocol – $261M@Scallop_io – $204M@CetusProtocol – $164MSuilend – $110M@AftermathFi – $85.1M@KriyaDEX – $51.0M@FlowX_finance – $30.9MDeepBook – $29.3M@HaedalProtocol – $27.7M@Turbos_finance – $26.6M pic.twitter.com/oRpJ7kCSzi

— CryptoRank.io (@CryptoRank_io) May 28, 2024

The success of these projects reflects the effectiveness of SUI’s incentive program. Over the past month, these projects have seen consistent increases in TVL, highlighting their growing popularity and the potential of SUI’s ecosystem.

Despite the relatively low capitalization of many projects within the SUI network, their TVL often surpasses these values multiple times over. This indicates significant investor confidence and substantial locked assets, suggesting that holding these tokens could be a lucrative strategy. The potential for price increases remains substantial, making them attractive for long-term investment.

SUI’s inaugural Hackathon is set to drive further innovation and development within its ecosystem. As the event unfolds, the positive impacts on SUI’s market dynamics and project growth are anticipated to continue, reinforcing the network’s position in the blockchain space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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$PEPE, the popular Ethereum-based memecoin, has surged another 6% in the past 24 hours, reaching a new all-time high (ATH) of $0.00001717. According to data from intotheblock, a remarkable 96.36% of $PEPE holders are now in profit, highlighting the token’s strong market performance.

BREAKING NEWS‼️

According to @intotheblock, 96.36% of $PEPE holders are in profits.

Bullish 📈 pic.twitter.com/78NTmsianm

— Vickado 🗽 (@VictorIwuegbu) May 27, 2024

In the past few hours, two newly created wallets withdrew 182.7 billion $PEPE (approximately $3.1 million) from OKX as the token hit its ATH.

Additionally, over the past five days, a whale withdrew 1.323 trillion $PEPE from Binance at an average cost of $0.00001378, amounting to an estimated $18.2 million. With the recent price surge, this whale’s holdings are now worth around $22.1 million, representing a 21% increase.

In the past 5 days, a whale withdrew 1.323T $PEPE from #Binance at ~$0.00001378 (est. cost: $18.2M).

Now, with the price surging 81% (7D) to a new ATH, the whale’s PEPE holding is worth $22.1M (+21%)!

Will the whale dump with these $PEPE soon? Follow @spotonchain and set alerts… pic.twitter.com/nsTpdLwlzu

— Spot On Chain (@spotonchain) May 27, 2024

A savvy trader, often referred to as “smart money,” made substantial gains from $PEPE. This trader spent $250,000 to acquire 160.62 billion $PEPE on December 6 and 7, 2023. The trader then sold all their $PEPE holdings for 644 ETH (valued at approximately $2.42 million) yesterday, realizing a profit of about $2.17 million and achieving a return on investment (ROI) of 867%.

The price of $PEPE has reached an all-time high again!

2 newly created wallets have withdrawn 182.7B $PEPE($3.1M) from #OKX in the past 40 minutes.https://t.co/KBx2mTy5SUhttps://t.co/aeSxN2JCz0 pic.twitter.com/1tAg3tg7PU

— Lookonchain (@lookonchain) May 27, 2024

More Profits In PEPECOIN And $JOE By Same Whale Trader 

Moreover, the same trader made significant profits with pepecoin and $JOE. They invested $25,000 to buy 139,822 pepecoin on December 6, 2023, and subsequently sold 25,000 pepecoin for 30.27 ETH (valued at $113,000), leaving 114,822 pepecoin worth $574,000. This resulted in a profit of $663,000 with an ROI of 2651%.

The price of $PEPE has reached an all-time high again!

2 newly created wallets have withdrawn 182.7B $PEPE($3.1M) from #OKX in the past 40 minutes.https://t.co/KBx2mTy5SUhttps://t.co/aeSxN2JCz0 pic.twitter.com/1tAg3tg7PU

— Lookonchain (@lookonchain) May 27, 2024

Additionally, the trader spent $63,400 to purchase 7.15 million $JOE between November 13, 2023, and December 4, 2023. Holding the $JOE tokens until now, they have seen their investment grow to $174,000, yielding a profit of $110,000 with an ROI of 171%.

Making $2.42M(+867%) on $PEPE!Making $663K(+2651%) on #pepecoin!Making $110K(+171%) on $JOE!

This smart money:

Spent $250K to buy 160.62B $PEPE on Dec 6, 2023 and Dec 7, 2023, then sold all $PEPE for 644 $ETH($2.42M) yesterday, making ~$2.17M, an ROI of 867%.

Spent $25K to… pic.twitter.com/U5oCORow5z

— Lookonchain (@lookonchain) May 27, 2024

These impressive gains underscore the potential profitability of strategic trading in the volatile cryptocurrency market. With $PEPE continuing to attract attention and investment, its future performance will be closely watched by traders and investors alike.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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Amidst a rising cryptocurrency market, the FLOKI Coin team has taken a significant step forward by announcing a strategic token burn plan. Over the past week, the team has already burned more than 15 billion Floki tokens. 

15.246 Billion Floki Tokens Successfully Burned

This move, aimed at controlling the supply in circulation, has significantly impacted the token’s value, causing it to rise by 41% over the past week and 23% today alone.

This week in #Floki / #TokenFi Weekly Recap:

✓ 15B+ $FLOKI burn✓ New TokeFi launchpads✓ $TOKEN on @UpholdInc✓ Floki perpetuals on @Coinbase ✓ $ETH ETF & the future of #tokenization✓ RIP KABOSU

All this, and more, on Sat, May 25, at 5PM UTC!👇 https://t.co/lbr4OerFwF

— FLOKI (@RealFlokiInu) May 24, 2024

Token burns are a method used by cryptocurrency projects to reduce the total supply of a token, which can help increase scarcity and potentially boost the token’s value. For FLOKI Coin, this calculated action addresses a critical issue for the token’s future growth, signaling a positive outlook for investors and the broader market.

One notable investor, known as theunipcs.eth, has seen substantial gains from their investments in FLOKI and another meme coin, MAGA.

Since April 8, theunipcs.eth has spent 276.4 ETH (approximately $863,000) to acquire 4.56 billion FLOKI tokens, which are now valued at around $1.1 million. Additionally, they spent 18.45 ETH (about $57,000) to purchase 6.27 billion MAGA tokens, currently worth $3.48 million.

Since Apr 8, theunipcs.eth spent 276.4 $ETH($863K) to buy 4.56B $FLOKI ($1.1M currently) and spent 18.45 $ETH($57K) to buy 6.27B $MAGA ($3.48M currently).

In less than 2 months, he earned $3.4M (+6005%) on $MAGA and 245K(+28%) on $FLOKI .https://t.co/KcHii3pdtt pic.twitter.com/rojnnhkH7K

— Lookonchain (@lookonchain) May 27, 2024

Growth In Both Floki Holdings And MAGA Investment 

In less than two months, theunipcs.eth has earned approximately $3.4 million from their MAGA investment, reflecting a staggering return on investment (ROI) of 6005%. Their FLOKI holdings have also grown in value, with a profit of $245,000, representing a 28% ROI.

These impressive returns highlight the potential for significant profits within the volatile cryptocurrency market, especially for those who can capitalize on strategic token burns and market movements. As the FLOKI Coin team continues to implement measures to control supply and enhance value, investors are closely monitoring the token’s performance for further opportunities.

The success of FLOKI and MAGA demonstrates the power of strategic investments and the potential of meme coins in the current market landscape. With continued innovation and strategic actions, these tokens could see even more substantial growth in the future.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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In a bullish trading session, Ethereum’s largest capped memecoin, $PEPE, has surged 10% to reach a new all-time high of $0.00001577. This remarkable price increase reflects growing interest and investment in the memecoin.

Prominent investor James Wynn, known on Twitter as jwynn.eth (@JamesWynnReal), deposited 491 billion $PEPE, worth approximately $7.54 million, into Binance. Wynn has been vocal about his belief that $PEPE remains severely undervalued despite its recent gains.

His confidence is bolstered by his previous investment, where he spent just $8,524 to acquire 2.83 trillion $PEPE, now valued at $44.4 million, yielding substantial profits.

jwynn.eth(@JamesWynnReal) deposited 491B $PEPE($7.54M) into #Binance before saying that $PEPE is still severely undervalued.

He previously spent $8,524 to buy 2.83T $PEPE($44.4M currently) and made huge profits on $PEPE.

He has 476.8B $PEPE($7.48M) left currently. pic.twitter.com/9flTGYpNxw

— Lookonchain (@lookonchain) May 25, 2024

Currently, Wynn holds 476.8 billion $PEPE, valued at $7.48 million, maintaining a significant position in the memecoin. This strategic move underscores his continued faith in $PEPE’s potential for further appreciation.

Another Investor Makes $3.49 Million In Profits From $PEPE

Moreover, another savvy investor, dubbed “smart money,” has also profited significantly from trading $PEPE. This investor, who has made $3.49 million in profits, opened a position in $PEPE on May 14 at approximately $0.00001046. With the current price surge, their profits have soared to $1.83 million, representing a 43% gain.

这就是抄作业的快乐吗🤩

曾交易 $PEPE 获利 349 万美金的聪明钱于 05.14 建仓的 PEPE 已浮盈 43%🔥！其建仓成本约 $0.00001046（上次的有些偏差，在此更正），目前已浮盈 183 万美金

钱包地址 https://t.co/bIplGfGvCC https://t.co/ACmjsZJokI pic.twitter.com/T8Ey4XvJaD

— Ai 姨 (@ai_9684xtpa) May 25, 2024

The recent activities and statements from influential investors like Wynn are driving attention and speculation towards $PEPE, contributing to its price increase. As the memecoin market continues to evolve, $PEPE’s performance highlights the potential for significant returns, attracting both seasoned investors and newcomers alike.

In conclusion, $PEPE’s recent all-time high and the substantial investments from high-profile figures suggest a bullish outlook for the memecoin. However, as with all investments, caution and thorough research are advised to navigate the volatile cryptocurrency landscape effectively.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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The post Ethereum Memecoin $PEPE Hits New All-Time High appeared first on The Merkle News.

Bitcoin has experienced a sharp increase, surpassing $70,000 this week, and market sentiment is buzzing with speculation about its potential to set a new all-time high.

Despite this optimism, there is uncertainty among traders about how much further Bitcoin can rise.

One of the key drivers of this recent surge is the substantial net inflow into Bitcoin Exchange-Traded Funds (ETFs). On May 24, 2024, the net inflow summed up to an impressive $252 million, marking ten consecutive days of positive net inflows. 

Notably, BlackRock’s Bitcoin ETF (IBIT) recorded a robust inflow of $182 million, highlighting strong institutional interest. Meanwhile, Grayscale’s Bitcoin Trust (GBTC) saw zero flow after two days of small outflows, suggesting a stabilization in its activity.

🚨 $BTC #ETF Net Inflow May 24, 2024: +$252M!

• The net inflow has been positive for 10 consecutive trading days 🔥

• #BlackRock (IBIT) recorded another strong inflow of $182M.

• #Grayscale (GBTC) had zero flow again after 2 days of small outflows.

Follow @spotonchain and… pic.twitter.com/hRCYzG6i1r

— Spot On Chain (@spotonchain) May 25, 2024

Steady Inflow Shows Strong Confidence Among Bitcoin Investors

This consistent inflow indicates sustained confidence from institutional investors, which is often seen as a bullish signal for the market. The influx of capital into ETFs supports the narrative that more mainstream investors are gaining exposure to Bitcoin, potentially driving prices higher.

However, the crypto market is notoriously volatile, and while the current trend is positive, market participants remain cautious. The question of how much higher Bitcoin can climb hinges on several factors, including regulatory developments, macroeconomic conditions, and the overall sentiment in the cryptocurrency space.

As Bitcoin hovers around the $70,000 mark, all eyes are on the next moves of institutional investors and the response of the broader market. The potential for new all-time highs is on the horizon, but as always with cryptocurrencies, the path forward may be unpredictable.

In summary, Bitcoin’s recent rally above $70,000 is fueled by strong ETF inflows, particularly from BlackRock, signaling robust institutional interest. While optimism is high, the market remains vigilant about potential volatility and the factors that could influence Bitcoin’s next milestone.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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Chainlink (LINK) has surged ahead of the broader cryptocurrency market, gaining 9% today and surpassing $17.50 for the first time in six weeks.

This impressive rally has been accompanied by a substantial increase in 24-hour trading volume, which is up by 78%.

🔗📈 #Chainlink has climbed well ahead of the #crypto pack, quickly surpassing $17.50 for the first time in 6 weeks. #Onchain today, there are 11 transactions in profit for every 1 $LINK transaction at a loss. This is the highest ratio since Dec. 8, 2022. https://t.co/nILlWsXWNh pic.twitter.com/joMV55V5x7

— Santiment (@santimentfeed) May 24, 2024

On-chain data reveals that there are currently 11 profitable LINK transactions for every one transaction at a loss. This 11:1 ratio is the highest observed since December 8, 2022.

This indicates a significant level of profitability among LINK holders, with a higher frequency of transactions occurring at prices above their acquisition cost.

Chainlink Response On The Growing Impact

In a recent tweet, Chainlink highlighted the growing impact of its Cross-Chain Interoperability Protocol (CCIP). According to Deloitte France, CCIP represents a major innovation with the potential to transform interoperability in the blockchain space.

The protocol is instrumental in driving the tokenization and migration of assets to the blockchain, supported by major financial institutions and infrastructure providers such as DTCC and Swift.

“Chainlink's Cross-Chain Interoperability Protocol (CCIP) is a major innovation that has the potential to transform interoperability,” noted @DeloitteFrance in a new industry report exploring DLT and capital markets.

Already, CCIP is driving “the tokenization and migration of… pic.twitter.com/YUw60r0RlM

— Chainlink (@chainlink) May 24, 2024

This development underscores Chainlink’s role in advancing blockchain technology and fostering greater integration across financial systems.

The increased trading volume and profitability ratio reflect growing investor confidence and interest in LINK, particularly as the market recognizes the value of Chainlink’s technological advancements.

As Chainlink continues to make strides with its CCIP, it is positioned as a key player in the blockchain industry’s evolution, enhancing interoperability and facilitating the seamless transfer of assets across different networks.

The current market performance and on-chain metrics suggest a bullish outlook for LINK, driven by both technological innovation and strong investor sentiment.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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