Top 7 ICO, a famous company offering analytics and insights into DeFi and cryptocurrency projects, has disclosed the top seven fundraising rounds of this week. As per Top 7 ICO, the prominent seven private cryptocurrency fundraising rounds that were accomplished this week include Morpho, Layer2 Financial, Daylight, Hyperbolic Labs, Icebreaker, Breakout, and Mintify. The platform disclosed this development on its official X account.

Top 7 Crypto Fundraising Rounds of the WeekLet’s take a look at the top 7 biggest private crypto fundraising rounds completed in the previous week, backed by crypto venture investors including @cbventures, @a16zcrypto, @hiFramework, @polychain, @coinfund_io, and others. pic.twitter.com/4UTpNkZfRS

— TOP 7 ICO | #StandWithUkraine🇺🇦 (@top7ico) August 4, 2024

Top 7 ICO Reveals Seven Crypto Fundraising Rounds in the Recent 7 Days

In its recent X post, the company revealed that Morpho took the 1st spot among these fundraising rounds. According to Top 7 ICO, the project effectively collected a significant amount of up to $50 million. The supporters behind Morpho’s fundraising include Rabbit Capital and Coinbase Ventures. Layer2 Financial secured the 2nd position with a fundraising of up to $10.7M. Galaxy reportedly provided support for the respective fundraising.

The Top Entities Backing These Fundraising Include CoinFund, Polychain, Framework Ventures and Coinbase Ventures

Following that, Daylight efficiently made a fundraising of nearly $9 million. The well-known backers behind this fundraising round include Framework. In addition to this, another project going by “Hyperbolic Labs” also made substantial fundraising this week. Top 7 ICO added that the project collected $7 million in its fundraising round. Its top investors took into account Faction and Polychain Capital.

According to Top 7 ICO, Icebreaker made approximately $5 million in its latest fundraising round. The top investor backing the project was CoinFund. The list moves on to place Breakout at the 6th place with a collection of approximately $4.5 million. Rockaway was among the prominent investors supporting Breakout. On the 7th spot, Mintify raised $3.4M in its fundraising with Alchemy backing it.

The present market analysis of Bitcoin indicates a predictable pattern. Doctor Profit, a prominent Bitcoin analyst on X, has recently published an analysis report that disclosed Bitcoin’s price movement between the range of $72,000 as well as $56,000-$57,000. The analyst noted that the basis for this price range includes the chief Fibonacci resistance levels established liquidity points, and moving averages. As per Doctor Profit, this offers a dependable agenda for traders.

#Bitcoin – What's Next?The big Sunday report, all you need to know:🚩 TA/LCA/Psychological Analysis: When it comes to the market, there are no such words as "market moves unexpectedly." Moves should always be anticipated, especially when we've been in a massive sideways… pic.twitter.com/EgJhARHaIQ

— Doctor Profit 🇨🇭 (@DrProfitCrypto) August 4, 2024

Bitcoin to Ranges Between $72,000 as well as $56,000-$57,000, Says Doctor Profit

In its recent X post, the analyst mentioned that irrespective of the apparent breadth of the respective range, it precisely mirrors the market dynamics. Each of the movements of Bitcoin to the bottom or top reportedly shows strong liquidity patterns. In addition to this, the constant profitability of purchasing BTC at the lower spot offers evidence concerning this range’s precision.

The Current Geopolitical Tension within the Middle East Results in Enormous Selling Pressure

At the moment, the market is going through a huge selling pressure. The possible cause behind this takes into account the fears regarding the expanding conflict in the Middle East. The particular participants in this conflict take into account Israel and Iran. The respective geopolitical issue has pushed novice traders to sell in panic. On the other hand, experienced investors look at the long-term opportunity by purchasing at the defined range’s lower end. However, if the tensions prolong, the anticipated bull cycle of BTC may get affected and traders may not be able to get the expected gains.

The Analyst Advises Bitcoin Investors to Buy the Bottom to Get Profits in Long Term

The analyst also discussed the “bottom of the box” indicator. According to Doctor Profit, this indicator has dependably pointed toward the local bottoms. Bitcoin reportedly made rapid recoveries after these local bottoms following provisional dips. This reportedly reflects the respective strategy’s profitability.

Doctor Profit added that the tension between Iran and Israel may significantly influence the market sentiment. As per the analyst, the prolonged conflict is further increasing the volatility. Hence, the market is currently witnessing enormous selling pressure.

SoonVerse has announced a new partnership with Zesh, an innovative AI-powered SocialFi suite of tools. Zesh leverages zkML technology to tackle one of the biggest challenges in Web3. It also fosters genuine community growth and engagement.

💥 𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐰𝐢𝐭𝐡 𝐙𝐞𝐬𝐡 💥@ZeshApps is a unique AI-powered SocialFi suite of tools, leveraging zkML to solve one of the biggest problems in Web3 – genuine community growth and engagement.𝐇𝐞𝐫𝐞 𝐢𝐬 𝐡𝐨𝐰 𝐭𝐡𝐢𝐬 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩… pic.twitter.com/nQ8DcEr1Yx

— SoonVerse❤️AIGG (@soon_verse) August 4, 2024

SoonVerse to Benefit from Zesh’s AI for Natural Growth

This partnership is expected to bring several benefits to SoonVerse. SoonVerse does not plan to manipulate communities with the help of Zesh’s AI systems and techniques, but to help them grow naturally. This means targeting and building up the number of active, quality, and interested users who actively participate in the platform.

In addition, Zesh’s AI capability can forecast changes, which enables SoonVerse to take advantage of promising trends. For this reason, SoonVerse will be able to track these trends in time to make the necessary amendments in terms of strategies and reap a profit from new opportunities in the market.

The incorporation of AI analytics in SoonVerse will therefore enhance the capacity of decision making. This is good because the decisions that are made within the SoonVerse environment are more likely to be data-driven and therefore, they are likely to be more effective.

SoonVerse Uses Zesh Predictive Analytics to Prevent Risks

The integration of the various tools developed by Zesh into SoonVerse’s platform will provide a major boost. With the help of cutting-edge AI and zkML, SoonVerse is able to perceive its audience as well as the larger context of Web3. This understanding is crucial in creating a more stimulating environment fit for the user of this website.

Furthermore, the use of predictive analytics will also be useful not only in identifying trends but also in mitigating effects of risks referring to various types of risks. With this approach, SoonVerse will be prepared and ready for the ever-evolving changes in the Web3 space.

Lastly, the integration plan between SoonVerse and Zesh is to ensure that there is collaboration in the search for growth among the members of the community. SoonVerse can now make more informed decisions and more advance when it comes to utilizing Zesh’s AI tools. This is a crucial step towards establishing a more active Web3 community.

Top 7 ICO, a well-known platform offering analytics and news insights concerning DeFi, IDO, ICO, IEO, and crypto projects, has disclosed the upcoming blockchain-related events. According to Top 7 ICO, the next week will see several notable events among diverse blockchain projects, providing a gist of the dynamic sector of blockchain and crypto technology. The platform took to its official social media account on X to provide the details about these upcoming projects.

Top Upcoming Events of the Next WeekWe compiled a list of top important upcoming events of the next week (Aug 5th – Aug 11th) among blockchain projects, including @miradaai $MIRX, @SharpeLabs $SAI, @Matr1x_io $MAX, @FTX_Official $FTT, @EnsoFinance $ENSO, @ensdomains $ENS, and… pic.twitter.com/j3YCrOzYQZ

— TOP 7 ICO | #StandWithUkraine🇺🇦 (@top7ico) August 4, 2024

Top 7 ICO Reveals Top Events to Take Place in the Blockchain Projects Next Week

In its exclusive X post, the firm noted that Mirada AI ($MIRX) stands among the respective projects. It reportedly leverages artificial intelligence to improve blockchain applications. Top 7 ICO added that Mirada will potentially make crucial announcements next week. The project reportedly keeps on advancing by integrating cutting-edge AI and decentralized technologies.

Additionally, Sharpe Labs ($SAI) is another project that focuses on transforming the financial markets via decentralized finance innovations. The project will reportedly unveil updates to likely reform the DeFi protocols as well as user interactions. Matrix ($MAX) also leverages an innovative approach concerning blockchain technology as well as its applications. This project is also planning to announce unique developments to improve the scalability and efficiency of blockchain technology.

The Potential Upcoming Events Focus on Revolutionizing and Streamlining the Blockchain and DeFi Sectors

Another such project is the top crypto exchange FTX Official ($FTT). It will expect to disclose the latest partnerships or features to influence the trading landscape. Enso Finance ($ENSO), a prominent platform developing DeFi ecosystems is additionally going to unveil new enhancements or integrations.

In this way, it aims to expand and simplify DeFi accessibility. ENS Domains ($ENS) also aims to introduce updates for the enhancement of domain management. Top 7 ICO added that Immutable ($IMX), an L2 scaling solution provider on Ethereum, will also share crucial advancements next week. They will further improve transaction efficiency and blockchain scalability.

According to Santiment, Ethereum and Chainlink are eyeing combined lowest levels of 30-day and 365-day average trading returns on Sunday. Historically, the more other traders experience losses, the more reason there is to buy at lower prices.

📊 Chainlink and Ethereum are seeing their combined lowest levels of 30-day (short term) and 365-day (long term) average trading returns Sunday. Historically, the more 'blood in the street' there is from other traders, the more justification there is to buy into others' pain. pic.twitter.com/tuPHUpKVsd

— Santiment (@santimentfeed) August 4, 2024

On Saturday, Ethereum could not maintain its position above its primary support levels, around $3,000. Although it is the second largest asset among the top 10 cryptocurrencies according to market capitalization, Ethereum has yet to begin to rebound from the recent market dip.

Ethereum is now clinging to a crucial support level and is at a tipping point that, according to analysts, could result in a slide below $2,800 if it is unable to maintain its current position. Based on statistics provided by CoinMarketCap, Ethereum is now trading at $2,905 at the time of publication, representing a decrease of 10.09% from July 28th. Other traders also suggested that Ether’s price might drop below $2,800 before any recovery begins.

On the other hand, Chainlink’s value has dropped 15% in the past three days, falling from $13.76 to $11.44 after a brief rally to $15 on July 21. Chainlink continues to exhibit a bearish trend in the short term. LINK’s price has dropped even lower over the past three days, with the Open Interest (OI) falling from $152 million to $143.7 million. This represents a significant decrease. The price and the open interest (OI) have decreased, indicating that traders are pessimistic about the asset. 

It appears that the speculators are exercising some degree of prudence because they are unwilling to take long positions. A significant drop in Chainlink’s Realized Capitalization is one of the primary contributors to the adverse attitude surrounding the company. This crucial on-chain measure, which displays the total amount of realized earnings minus realized losses, has been observed, decreasing from $75.51 million to $11.14 million.

This week saw a slight decline in the DeFi sector with prominent projects witnessing a decrease in their total value locked. According to the data from DappRadar, the prominent DeFi projects in terms of TVL during the past seven days take into account LIDO, Aave V3 EigenLayer, Maker DAO, along Rocket Pool. These projects have seen a dip in the recent week.

LIDO Sees 10.82% Decline from Its TVL in the Previous Week

As per DappRadar, LIDO witnessed the top spot with a substantial total value locked of up to $28.47 billion. This figure shows a slump of 10.82% from the $32.11B of the week before this. Following that, Aave V3 also maintained its 2nd position. It saw a total value locked of $9.97 billion. The respective figure also signifies a plunge of approximately 9.36% from the previous week’s 11.08B.

The Top DeFi Projects Maintain Their Positions in TVL with Slight Slumps

The 3rd place was occupied by EigenLayer this week in terms of total value locked. The DeFi project recorded a TVL of nearly $8.69 billion. This amount expresses a dip of up to 6.59% from the previous week. After that, Maker DAO has seen the 4th place among the DeFi projects when it comes to TVL. It reportedly saw a total value locked of $5.05 billion.

DappRadar’s data discloses a 7.85% decrease from its TVL of up to $5.49B a week before. Rocket Pool recorded a total value locked of $3.53 billion at the 5th position. Its TVL of this week shows an 11.31% decline from the previous week’s TVL of $5.49B

Aptos has released a new version of its node software, Aptos Node v1.17.1. Users are encouraged to upgrade to this latest version within the next three days. In this way, they must ensure that they are running the most current and secure software.

Aptos Node v1.17.1 has been released! Please upgrade to v1.17.1 within the next 3 days! https://t.co/5EksxdMMNf

— Aptos Releases (@AptosRelease) August 4, 2024

Aptos Requires Validator Nodes to Upgrade by August 1st

For those that operate validator nodes, it is necessary to move to v1.17.1 by August 1st. Basically, validator nodes are very essential in the Aptos blockchain as they help in the validation of the transactions in the network. Sustaining these nodes will ensure the functionality and security of the blockchain is preserved.

Likewise, those who run full nodes must upgrade to v1.17.1. However, they still have time to the 7th of August for the upgrade. Full nodes are the nodes that contain the entire information of the Aptos network.

Aptos Nodes Crucial for Blockchain Functionality and Security

Regardless of if you are a validator node or a full node, the Aptos node is crucial to the functioning of the Aptos ecosystem. These nodes help in supervising the state of the chain and ensure that no transactions go unrecorded or unverified. By using the latest version, the node operators can help ensure the stability and security of the network.

The new Aptos v1.17.1 update brings multiple changes as well as improvements that can resolve multiple problems that may impact the functionality of the blockchain. This is especially important for all node operators in order to stay informed of such changes.

Finally, if you are a user of an Aptos node, it is recommended to update the node to v1. 17.1 during the given timeline to improve the security of the blockchain network.

Since the 25th of July, Jump Trading (a quantitative trading platform), has reportedly deposited significant $ETH and other related tokens to centralized exchanges. Spot On Chain, a popular on-chain analytics platform, disclosed that the company has deposited up to $231M worth of $ETH tokens to CEXs in the past ten days. The analytics provider provided the details of this event on its official social media account.

Jump Trading deposited $231M worth of $ETH to CEXs in the past 10 days!Since Jul 25, Jump Trading has:• redeemed 83,091 $wstETH ($341M) into 97,600 $stETH• unstaked 86,059 $stETH ($274M) from Lido Finance• then deposited a net amount of 72,213 $ETH ($231M) to various… pic.twitter.com/1U0jSq536P

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

Jump Trading Makes Strategic $ETH Deposits of $231M Worth to Centralized Exchanges in Ten Days

In its latest X post, Spot On Chain noted that this commenced on July 25 when Jump Trading began an array of strategic steps. They took into account the deposits of wrapped staked Ethereum (wstETH) as well as staked Ethereum (stETH). To start with, the company withdrew 83,091 wstETH with a value of up to $341M. The platform converted this amount into 97,600 stETH.

Following that, the firm moved on toward unstaking 86,059 stETH from Lido Finance. The respective figures had a value of nearly $274M. This unstaking procedure took into account converting staked assets into the $ETH token’s liquid form. After conversions, the platform deposited a cumulative amount of approximately 72,213 ETH, equaling $231M, into diverse well-known CEXs.

The Platform Still Has 21K $ETH and 37.6K wstETH in the Wallet, with 11.5K $stETH Still in the Unstaking Procedure

Gate.io, Coinbase, Bybit, OKX, and Binance stood among the exchanges that engaged in these massive deposits. The deposits denote a strategic asset allocation across diverse trading entities, potentially facilitating trading activities, liquidity, or other functional strategies. Spot On Chain added that Jump Trading currently possesses almost 21K $ETH and 37.6K wstETH in the wallet while 11.5K stETH is presently going through the unstaking procedure.

What is Cardano (ADA) Crypto?

In the crypto world, Cardano (ADA) is making waves, and investors and blockchain fans are taking notice. With IntoTheBlock showing $6.52 billion in large transactions in the last 24 hours, Cardano is almost on par with Ethereum. This post will cover what is ADA crypto, its features, and how you can stake on CryptoHeap to get the most rewards.

What is Cardano (ADA)

Cardano is a blockchain platform that wants to create a more secure and scalable infrastructure for dApps and smart contracts. Founded by Charles Hoskinson, one of the co-founders of Ethereum, Cardano is different because of its research-driven approach and commitment to positive global change through blockchain.

Consensus Mechanism

Cardano uses a unique consensus mechanism called Ouroboros which is a type of Proof of Stake (PoS). This is energy efficient and secure, unlike the Proof of Work (PoW) used by Bitcoin.

Ouroboros Features: ADA holders can stake their tokens to support the network. Stakers get rewarded for validating and creating new blocks. Network participants who validate transactions and secure the blockchain are called validators. They are chosen based on the amount of ADA they stake, fair and decentralized.

Staking ADA

Staking ADA means locking up your ADA tokens to participate in the consensus mechanism. Here’s how it benefits you:

Rewards: You get staking rewards in the form of additional ADA tokens. These are based on your stake and the network’s performance.

Security: Staking secures the Cardano network by making validators have a skin in the game.

Network Participation: Stakers process transactions and validate new blocks, making the blockchain faster and more reliable.

Cardano’s Recent Transaction Volume

Cardano’s $6.52 billion in transactions in the last 24 hours is a sign of its growing adoption and usage. This puts Cardano almost on par with Ethereum in terms of large transactions, a healthy and active blockchain.

Staking on CryptoHeap

CryptoHeap is a platform where you can get the most out of your staking by offering different staking plans for Cardano and other cryptos. Here’s how you can benefit:

Competitive Rewards: We offer some of the highest staking rewards in the market, so your investment will generate more.

User Friendly: The platform is easy to use for both beginners and experienced investors.

Secure Staking: CryptoHeap has security measures in place to protect your staked assets from threats and attacks.

Interest in getting more on Crypto Staking?

How to Stake on CryptoHeap:

Staking on CryptoHeap is super easy. To get started, head to CryptoHeap’s website and click the “Sign Up” button. Enter your email and set a password. Complete any verification steps like email confirmation or 2FA. 

Once you have your account set up and verified, log in to CryptoHeap and go to the wallet section to deposit. Choose the cryptocurrency you want to deposit, generate a deposit address, and transfer your funds from an external wallet or exchange. Once you initiate the deposit wait for the transaction to be confirmed on the blockchain.

Now that you have funds in your account, you can choose a staking plan. Go to the staking section of CryptoHeap and choose a plan. Each plan will have different staking periods, reward rates, and minimum staking amounts. Choose a plan that suits your investment goals and read the terms carefully. Make sure you understand the lock-up period, reward distribution schedule, and any fees.

To stake, go to the staking interface, choose the amount of cryptocurrency you want to stake, and confirm. Once confirmed you can monitor your stake in the dashboard. This section will show the amount staked, rewards earned, and the remaining staking period.

As you stake, you will earn rewards based on your chosen plan and the blockchain network’s performance. Rewards are distributed periodically and you can view them in your dashboard. Depending on CryptoHeap’s policy you may be able to claim your rewards or reinvest them into another staking plan. Reinvesting will compound your returns over time.

If you want to withdraw your staked assets, read the withdrawal terms as some plans may have a lock-up period. Go to the withdrawal section, choose the amount you want to withdraw, and confirm. Follow the additional instructions provided by CryptoHeap to complete the withdrawal process and your funds will be transferred to your external wallet or account.

Ways to Earn More & More….

There are plenty of different cryptocurrencies available for you to choose from. So, you can decide based on your investment goal!

Chance to get More Rewards….

CryptoHeap’s affiliate program is a special perk for our loyal investors. As an affiliate, you can earn commissions by bringing in new users to our platform. 

For every first-level referral you bring in you will get 3.5% of their activity. And for second-level referrals who are introduced through your direct referrals, you will get 1.5%. This tiered commission structure rewards your direct efforts and also acknowledges the value of your network so you have an ongoing incentive to grow our community and increase your earnings.

Summary

Cardano is a great example of blockchain innovation and its recent transaction volume shows its growing presence in the market. Staking ADA is a way to earn rewards and support the network. Choose CryptoHeap for your staking and get the most out of your ADA.

Stake with CryptoHeap now and unlock your ADA. Earn staking rewards and support Cardano.

This week, we saw pivotal shifts and strategic collaborations in the crypto world. The Montenegro Appellate Court’s decision to extradite Do Kwon to South Korea rather than the U.S. was the most significant event. Meanwhile, Trust Wallet’s new partnership with The Open Network (TON) promises to enhance blockchain transactions. Thirdly, GnosisDAO unveiled Gnosis AI, aiming to merge AI technology with Web3 to improve prediction markets. Additionally, the SEC charged BitClout founder Nader Al-Naji with multi-million-dollar fraud, reflecting ongoing regulatory scrutiny. Lastly, Ondo Finance’s launch of USDY on the Aptos blockchain introduced a new tokenized U.S. Treasury asset, marking a significant step in blending traditional finance with DeFi.

Montenegro Court Rules Do Kwon to Be Extradited to South Korea

In the most significant development for the crypto industry, Montenegro’s Appellate Court ruled that Do Kwon, co-founder of Terraform Labs, will be extradited to South Korea, not the U.S. This decision concludes a legal dispute over where Kwon should face charges related to the collapse of his cryptocurrency project.

Kwon, who faces negligence charges over the $60B collapse of the TerraUSD and Luna tokens, will now be tried in South Korea. He became a fugitive after a 2022 arrest warrant from South Korea, leading to international efforts to apprehend him. The U.S. had also charged Kwon with cryptocurrency fraud, seeking $4.47 billion in restitution and fines.

The court’s ruling aligns with Montenegro’s legal framework favoring the South Korean extradition request over the U.S. Kwon was previously arrested in Montenegro in April 2023 after attempting to evade deportation using a fake passport. This ruling highlights the ongoing scrutiny of cryptocurrency practices and the importance of international legal cooperation in addressing financial crimes.

Trust Wallet Partners with TON to Enhance Crypto Transactions

This week, Trust Wallet teamed up with The Open Network (TON) to integrate its services with TON’s platform, aiming to boost blockchain adoption. This partnership focuses on streamlining transactions with Toncoin (TON), TON’s native cryptocurrency, directly from Trust Wallet.

The collaboration will enhance the use of Trust Wallet by simplifying transactions and expanding access to TON’s ecosystem. It will also support single-chain and cross-chain swaps, and potentially include TON NFTs. Users can soon import TonKeeper wallets into Trust Wallet, and future updates will integrate TON Connect and various TON DApps, enriching the user experience and broadening Trust Wallet’s capabilities.

GnosisDAO Launches Gnosis AI to Merge Web3 and AI

GnosisDAO has introduced Gnosis AI, a new division under Gnosis Labs, aiming to blend Web3 and artificial intelligence. This initiative, shared on their social media, focuses on integrating AI agents into Web3’s prediction markets, an area where GnosisDAO has extensive experience. Gnosis AI will enhance prediction markets by leveraging AI agents to improve accuracy and efficiency in forecasting and decision-making.

The platform aims to refine these trading agents to align with its “truth teller” vision, with top agents currently achieving around 65% accuracy. One notable AI agent, “Social Agent,” will analyze client bets to enhance public relations and market understanding.

SEC Charged BitClout Founder Nader Al-Naji with Multi-Million Dollar Fraud

The SEC has charged Nader Al-Naji, BitClout founder, with a multi-million-dollar crypto fraud. Al-Naji is accused of misleading investors about BitClout’s native token (BTCLT) and using over $7M for personal expenses. According to the SEC, Al-Naji raised over $257M through unregistered sales of $BTCLT tokens starting in November 2020. He allegedly used funds for lavish personal expenditures, including a Beverly Hills mansion and cash gifts.

The SEC also accuses Al-Naji of attempting to evade regulation by portraying BitClout as a decentralized project, despite evidence to the contrary. This included obtaining a misleading legal opinion to misrepresent the project’s status. Al-Naji faces civil charges for violating securities laws, and the U.S. Attorney’s Office for the Southern District of New York has also filed criminal charges against him.

USDY Makes Debut on Aptos to Revolutionizing DeFi with Tokenized Treasury Assets

Ondo Finance has launched USDY on the Aptos blockchain, marking the introduction of the first tokenized U.S. Treasury asset in the Aptos ecosystem. This move integrates traditional financial stability with the innovative potential of decentralized finance (DeFi). USDY offers a 5.3% APY yield while providing institutional-grade security backed by U.S. Treasuries. This new stablecoin enhances options in Aptos’s DeFi space and extends its benefits to global investors.

The launch of USDY boosts Aptos’s DeFi landscape by integrating with major protocols managing over $250M in total value locked (TVL). It will enhance liquidity pools, serve as collateral, and support financial instruments like Collateralized Debt Positions (CDPs) and derivatives. Nathan Allman of Ondo Finance and Jerome Ong from the Aptos Foundation both praised the launch.

Conclusion

In summary, this week has been pivotal for the cryptocurrency sector, showcasing significant legal, regulatory, and technological developments. The extradition of Do Kwon to South Korea highlights the global legal challenges within the crypto space, while Trust Wallet’s partnership with TON represents a major step forward in blockchain integration. GnosisDAO’s launch of Gnosis AI promises to innovate prediction markets, and the SEC’s charges against BitClout’s founder underline the increasing scrutiny of crypto ventures. Meanwhile, Ondo Finance’s introduction of USDY on Aptos signals a noteworthy advancement in merging traditional finance with DeFi. These events underscore the evolving landscape of cryptocurrency and its intersection with regulatory and technological advancements.

The top stablecoin USDT has been breaking its records throughout 2024 with more than 18 million weekly EVM-chain transfers. IntoTheBlock, an AI-driven programmable platform for financial services facilitating DeFi institutional investors, has mentioned that this significant per-week amount of transfers indicates a remarkable development for the chief stablecoin. The platform took to its official social media account to provide details regarding this.

🚀 USDT has been breaking records all year with over 18M weekly transactions on EVM chains! 78% of these transactions occur on the @trondao , making it the go-to choice for transfers. pic.twitter.com/Hw6C3oAP5y

— IntoTheBlock (@intotheblock) August 3, 2024

USDT Sees Exclusive Spike in Weekly EVM-Chain Transactions During 2024

In its latest X post, IntoTheBlock mentioned that seventy percent of the respective transfers took place on the Tron network. This turned the crypto token into a go-to choice in the case of transactions. Tron operates as a stablecoin with low fees as well as decreased price fluctuations. This has paved the way for decreased fees. These factors have reportedly contributed to USDT’s popularity in terms of transactions.

Apart from that, IntoTheBlock asserted that ninety-four percent of the total value of the crypto token is locked within the Tron ecosystem. Along with that, the market capitalization of USDT has also presented a positive outlook. According to IntoTheBlock, USDT reported a substantial $5.2B profit during the 1st half of the current year.

USDT Leads the Stablecoin Market Growth Following Terra UST’s Crash

Moreover, the market capitalization of USDT touched up to $120B. Additionally, the growth of the overall market of the stablecoin has also increased. It has reportedly witnessed its largest market capitalization following the crash of the UST of Terra. According to IntoTheBlock, this paved the way for the leading position of USDT in terms of growth.

Blockchainedbb, a famous crypto analyst, has recently offered a comprehensive market update, indicating expected price movements of Bitcoin in the next months. According to Blockchainedbb, August will see slow BTC price movements, with liquidity being swept below the mark of $60,000. The platform disclosed this analysis on its official X account. The chief crypto token is currently trading at $60,700.

There is no change in update Aadarsh . We are waiting for liquidity to be swept below 60k . August doesn’t move much . We are expecting btc to bounce to 65k area between august 8th to 20th and stay range bound . We are anticipating a decent drop to 55-57k in Sep . We are… https://t.co/za4dcM2KVs

— Blockchainedbb (@blockchainedbb) August 3, 2024

Blockchainedbb Anticipates Slower BTC Price movements in August, with a Correction Coming in September

In its recent X post, Blockchainedbb noted that despite the overall slow performance in August, it anticipates a price jump. According to it, this price spike will take the value of Bitcoin to $65,000 from the 8th to the 20th of August. Following the respective brief jump, the top crypto token will potentially remain within a range during the next days of August. After that, a huge market correction will reportedly take place.

Crypto Investors Have the Potential to Generate Funds with Meme Tokens Before Election

As a result of this, the price of Bitcoin will dip to the range between $55,000 and $57,000. The respective slump plays the role of a natural correction after the movements in August. Additionally, it will potentially deliver buying opportunities to facilitate investors and traders alike. After the slump in September, Blockchainedbb expects a big pump.

The platform forecasts BTC to jump to the range between $68,000 and $71,000 in the period that resulted in the election. The respective pre-election rally will expectedly drive speculation and market activity. Blockchainedbb asserted that a great short will take following the election.

Ethereum plummeted after the launch of spot Ether ETFs on the New York Stock Exchange and a broader selloff in tech stocks, while Pepe witnessed volatility as a whale moved large amounts of Pepe to Binance. Meanwhile, Raboo ($RABT), a new presale token, is attracting attention with its unique features and profit potential. Currently in Stage 4 of its presale, Raboo’s impressive performance has led analysts to consider it one of the best altcoins to invest in 2024.

Ethereum declines after ETF launch

Ethereum continues to fall despite the initial optimism surrounding the approval and launch of Ethereum ETFs. Consequently, investors are now unsure if Ethereum is still one of the best cryptos to buy in 2024, with crypto experts noting that the much hyped Ethereum ETFs have not inspired a significant price rally that was expected.

The selloff which continues to cause a dip in Ethereum’s price was exacerbated by significant outflows from the newly launched ETFs, most especially Grayscale’s Ethereum Trust, which saw $326.9 million in withdrawals. While other prominent ETFs like Fidelity Ethereum Fund and Bitwise Ethereum ETF, attracted substantial inflows, the overall market sentiment remained bearish with investors cautious about making long-term investing decisions. Furthermore, the current bitcoin refund from Mt. God alongside a tank in the prices of tech stocks on major stock exchanges worldwide continues to exert a negative pressure on Ethereum’s price.

Furthermore, Ethereum’s price decline also caused a wave of long liquidations in the futures market. This liquidation process added to the selling pressure, driving prices down even further. Technically, Ethereum’s recent losses are part of a correction within a descending channel pattern, with potential support around $2,850 if the current trend continues.

Whale activity sparks volatility in Pepe price amid market uncertainty

Pepe’s declines are far from being over amid a new bearish trend that has now been attributed to significant whale deposits of 400 billion Pepe tokens worth $4.22 million to Binance, indicating substantial movements in the market at uncertain times. This whale activity underscores strategic investor maneuvers as they seek to capitalize on current trends despite the overall market decline.

Pepe continues to face strong selling pressure, struggling to break through resistance levels around $0.0000126 and falling below key moving averages. This sustained bearish sentiment is reflected in increased short-term trading activities, which have grown in the past month. As Pepe navigates these challenges, its price movements remain volatile, influenced by both investor strategies and broader market trends.

Raboo: The AI meme coin offering unique staking and high profit potential

Raboo ($RABT) presale token, an Ethereum ERC-20-based AI meme coin,  has been tipped as one of the best altcoins to invest in amidst analysts’ prediction that the meme token will revolutionize the meme coin space with its unique infusion cutting-edge technology and artificial intelligence. Raboo is on track to foster a vibrant and engaged community, which continues to foster the meme token’s adoption. Consequently, investors are now bullish on Raboo with analysts predicting a 233% surge during the presale and potentially 100x on launch day. 

Raboo introduces a Post-to-Earn platform, enabling meme coin enthusiasts to monetize their social media content. The smart contract has been audited by SOLIDProof, ensuring security and trustworthiness. The project promises a robust marketing campaign to make Raboo unforgettable, positioning it as a leading meme coin by market cap. Exciting crypto prize draws and giveaways will further engage the community and increase token visibility.

Additionally, Raboo offers a staking mechanism where buyers can stake their $RABT tokens to earn regular rewards at attractive rates. This initiative aims to solidify the project’s long-term future by encouraging community participation and investment. With these features, Raboo is poised to make a significant impact in the cryptocurrency market, leveraging Social-Fi and AI to build a strong and active user base.

Conclusion 

Ethereum’s price continues to fall due to investor sell reactions and a broader technology stock selloff, while Pepe’s volatility was exacerbated by a whale’s deposit of 400 billion Pepe tokens to Binance. Amid this market uncertainty, crypto experts are tipping Raboo, a new presale token, as the next big opportunity for investors seeking bullish sentiment and massive profits. Raboo aims to become a top 20 cryptocurrencies, challenging popular meme coins like Pepe. With over 10,400 users, Raboo is rapidly gaining adoption and is considered one of the best cryptos to buy in 2024.

You can participate in the Raboo presale here:

Telegram: https://t.me/RabootokenPortal   

Twitter: https://twitter.com/Raboo_Official 

Buying Bitcoin has been the best return on investment out of any asset class over pretty much any time scale over the past 15 years. Everyone is looking for the next Bitcoin, and there are gems out there, but getting it right is far from easy.

Crypto investors are dumping older altcoins as both the Chainlink and Shiba Inu price slide continues. Investors want the best return and that’s typically new cryptos, which LINK and SHIB were in previous cycles.

This cycle is all about cryptos that have utility and cash flow, and Rollblock ticks all the boxes. Tipped by many analysts for major returns, the presale has exceeded all expectations as investors position themselves early.

Is Bitcoin still the best return on investment?

Bitcoin has outperformed pretty much all asset classes since its inception in January 2009, and with gains of over 100 million percent, it has been the best return on investment in history. Every portfolio should include Bitcoin, but of course, those gains are gone with BTC so investors look to speculate on altcoins, especially newer ones that generally lead the bull market.

The Shiba Inu price continues to slide, as does Chainlink

The Shiba Inu price is one of the most volatile in the crypto market. Like other meme coins, SHIB isn’t known for its utility but rather for its speculative fun. However, in this cycle, crypto is going mainstream, so investors wonder if the time is up for memes like Shiba Inu.

If the Shiba Inu price is looking fragile, so is the LINK price. Down 15% in the last two weeks, investors are fleeing older alts like Chainlink in search of the next big thing. That’s not to write off Chainlink, but as with every bull cycle, the best return on investment is achieved with the newest cryptos.

RBLK

Investors are always on the lookout for the next Bitcoin, but the fact is, Bitcoin is unique. For excellent returns, however, brand-new cryptos are where it’s at, and Rollblock is potentially the best return on investment. 

Rollblock combines the best of traditional casino gaming with the transparency and security of blockchain technology. This builds trust with its game players, who will continue to come back and play.

The platform’s native token, $RBLK, is central to its ecosystem. Without it, users can’t do anything, and it’s what is available during the presale. Now in Stage 4 and up 75%, analyst predictions are looking spot on. Don’t think the boat has sailed, however, because with predictions of 880% during the presale and a further 100x after it launches, it’s clear why the presale has smashed all expectations.

Investors are attracted to the cash flow the token can generate. By integrating a revenue share model, investors can continuously earn a passive income through a share of the revenue, or staking rewards. Up to 30% APY, in fact.

The crypto market is evolving, but one thing is sure: it’s the newest cryptos that offer the best returns. Analysts are extremely bullish on Rollblock, but with the early success of the presale, they are actually starting to look conservative.

Discover the exciting opportunities for the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Socials: https://linktr.ee/rollblockcasino

August has just begun, and the crypto market is ready for massive rallies. Traders are actively searching for coins that could potentially deliver the highest gains, but analysts have already made their top gainer predictions. These are Cardano, Dogwifhat and Rollblock. Here’s why each project is expected to soar. 

Expert Traders Are Buying Cardano (ADA) Dip 

Cardano (ADA) has been on a downtrend since March. Even though Cardano managed to find some stability in mid-July, that sentiment didn’t last for long. At the time of writing, Cardano is trading at $0.3848 after an intra-day dip of over 2%. Major trading platforms like Binance and OKX are seeing a huge influx of Cardano, hinting towards a major sell off. 

Despite these bearish indicators, some analysts are hopeful about a huge rebound. A recent report highlighting how Cardano’s negative funding rates have increased is hinting towards an oversold condition. Historically, reaching the oversold territory means that a coin is set to make a sharp recovery soon. If that stands true, then Cardano investors may be able to reap huge gains in August by buying the dip. 

Dogwifhat (WIF) Price Plunges 6% in One Day 

Even though Dogwifhat (WIF) was showing signs of recovery in mid-July, the memecoin has now plunged to a lower low. At the time of writing, Dogwifhat (WIF) is trading at $1.90 after a massive intra-day decline of 6%. This downtrend is not news for Dogwifhat holders since the memecoin has fallen 27.85% in the past seven days. Should it continue to fall, analysts fear that Dogwifhat could drop below $1.50. 

Despite this poor performance, analysts are anticipating a huge climb for Dogwifhat in August. The memecoin’s Chaikin Money Flow (CMF) shows that the decrease is short-lived since selling pressure is still low. If the bulls take charge, then Dogwifhat’s value may rally to new highs once again. 

Rollblock’s (RBLK) GambleFi Protocol Set for Massive Gains

Rollblock (RBLK) is redefining online casinos with DeFi. By using the latest blockchain technology to resolve long-standing trust and security issues, Rollblock is all set to capture a huge chunk of the $750 billion global gambling industry. Analysts suggest that if Rollblock can maintain its current momentum, it has huge potential to become the top new DeFi token of the year. 

Rollblock’s crypto casino is fully licensed and audited by Solid Proof. Since the casino is already active and generating revenue with over 7,000 active users, analysts are predicting a huge influx of new investors soon. 

The main reason behind this rapid growth is Rollblock’s unique no-KYC policy. With lengthy verification processes no longer in the picture, players can quickly sign up and enjoy complete anonymity. 

Apart from offering 150+ casino games and a sports betting feature, Rollblock also has a revenue-share mechanism to maximize its DeFi utility. Each week, Rollblock spends up to 30% of its revenue to purchase RBLK tokens from the open market. 50% of these tokens are burned to keep supply scarce, while the remaining 50% is distributed to current investors. This gives RBLK holders huge rewards with better APYs than any other token in the market. 

Stage 4 of the Rollblock presale has become its fastest selling to date. Early investors have already seen a massive 75% surge in value, and industry experts are anticipating up to 800% gains by the end of presale. At the time of writing, Rollblock is selling at $0.0175, giving investors the perfect opportunity to get their hands on this GambleFi token before it skyrockets in August. 

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://rollblockpresale.io/Socials: https://linktr.ee/rollblockcasino 

Crypto headlines are showing nothing but green as 3 tokens charge ahead of the pack. Dogecoin (DOGE) reignites momentum toward $1 on a Musk shoutout, Rollblock (RBLK) has 2024 estimates increased to 100x growth on a blowout in GambleFi, and Ripple (XRP) is now on track to 3x after a favorable ruling. 

Could Musk Shoutout Put Dogecoin Price Back on Track for $1?

The Dogecoin price Drew back by an additional 3% over 24 hours cutting out a slice out of its already impressive 52% rally for the year, taking Dogecoin’s price to $0.1174.

Dogecoin is the favorite token to break back above old 2021 memecoin mania highs, and a shoutout from Elon Musk might be the trigger that sends it to $1. In a recent interview, Musk mentioned that he believes in the utility of Bitcoin and really enjoys the idea of memecoins, especially Dogecoin. Musk’s opinions hold a lot of weight in the crypto world, and investors think this might be the catalyst for explosive Dogecoin growth.

Ripple Price Set to Triple as Legal Woes Come to a Close

The Ripple price is up 6% on the news that its legal woes might be ending, which puts a strong green cap on its 38% rally this month.

Ripple has been in a legal struggle with the SEC over its 2018 ICO. A recent ruling about the legal status of tokens in a related trial was a massive blow to the SEC’s case against Ripple. With the prospect that Ripple’s legal struggles will finally be behind it, investors are now expecting 3x growth or more for Ripple in 2024.

Rollblock Slated for 100x Growth in 2024

Analysts have recently revised their estimates for the GambleFi juggernaut Rollblock to 100x or more growth in 2024.

The $450 billion global gambling industry is expected to expand to $750 billion by 2028 as it increasingly migrates online. Rollblock is the only token prepared to take advantage of this enormous revenue potential, and growth estimates are now soaring as a result.

Rollblock is the first crypto casino of its kind, incorporating the latest blockchain technology to revolutionize the online gambling experience. The next generation of players wants seamless transactions, flawless security and transparent gaming, which only blockchain technology can provide.

These players also want to enjoy a novel experience every time they log in, which is why Rollblock features more than 150 of the most popular games in the industry. Rollblock also creates a sense of crypto community that is lacking in traditional online casinos by hosting regular events and giveaways.

Rollblock’s revolutionary revenue-sharing system pumps up to 30% of the casino’s daily revenues back into the market by buying up its own tokens. Half of these tokens are used as staking rewards with industry-beating APYs, and the other half are burned to limit the supply.

With Rollblock hitting all the right notes, analysts now expect its Stage 4 presale price of $0.0175 to increase more than x100 in 2024, with stage 4 of its presale almost sold out. 

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://presale.rollblock.io/ Socials: https://linktr.ee/rollblockcasino 

In a surprising turn of events, a seasoned Dogecoin (DOGE) investor has ignited a debate within the cryptocurrency community by declaring Algotech (ALGT) superior to Near Protocol (NEAR). 

The investor, known for their successful DOGE trades, has sparked controversy with their bold claim, highlighting the importance of robot trading capabilities in the evolving crypto landscape. Let’s find out how!

The DOGE Investor: Controversial Endorsement?

A prominent figure in the Dogecoin (DOGE) community, has garnered attention for their astute investment strategies. With a proven track record of success, the investor’s opinions carry significant weight within the cryptosphere. Their journey with Dogecoin (DOGE) has been marked by substantial gains, solidifying their reputation as a savvy market participant.

While Near Protocol (NEAR) has gained traction in the market, the investor believes that Algotech’s (ALGT) focus on algorithmic trading offers a distinct advantage. The platform’s ability to leverage artificial intelligence to optimize trading decisions sets it apart from competitors like Near Protocol (NEAR).

Near Protocol (NEAR) Consolidates Amidst Growing User Base

Near Protocol has been trading within a sideways channel for the past four months, with the upper and lower trendlines acting as significant resistance and support levels, respectively. This consolidation phase has prevented the coin from establishing a clear directional bias.

However, a positive trend emerges from the network’s growing user base. The number of active addresses on the Near Protocol network has surged from 57.13k in July 2023 to an impressive 1.97 million, representing a staggering 3348.28% increase. 

This substantial growth indicates heightened network activity and a growing user base, factors that could positively impact NEAR’s ecosystem and potentially drive future price appreciation.

Algotech (ALGT): AI-Powered Trading Platform Disrupts the Market

Algotech (ALGT) offers a compelling alternative to Near Protocol (NEAR), particularly for traders seeking advanced capabilities. 

The platform’s core strength lies in its robust robot trading feature, which leverages artificial intelligence and machine learning to optimize trading strategies and enhance profitability. 

By offering AI-powered algorithmic trading, Algotech goes beyond traditional financial tools, delivering hyper-personalized investment strategies and superior risk management. This cutting-edge approach positions Algotech as a disruptive force, poised to transform the way people invest. 

The platform’s presale has achieved a remarkable milestone, surpassing $10 million in funding. As the presale concludes, anticipation is building among early supporters and potential investors.

Final Insights: Investor Perspective

The DOGE investor has unequivocally stated that Algotech’s (ALGT) robot trading functionality surpasses Near Protocol’s (NEAR) offerings. The investor highlights the importance of automation in today’s fast-paced crypto market, emphasizing that Algotech (ALGT) provides traders with a competitive edge. 

While Near Protocol (NEAR) offers a solid foundation for decentralized applications, the investor believes that Algotech (ALGT) better addresses the needs of active traders. As the debate unfolds, it is evident that the role of technology, particularly in the realm of automated trading, will continue to shape the future of the industry.

For more details about this project:

Visit Algotech Presale

Join The Algotech Community

SushiSwap, a prominent decentralized exchange, has announced the completion of Chain Subscription Payment on the SKALE Network. The effective accomplishment of the respective initiative by SushiSwap enables the company to keep operating on the Europa Liquidity Hub of the Skale Network. The platform took to its official social media account on X to provide the details of this significant development.

Good news 🎉 We've made our chain subscription payment to keep Sushi cooking on the @SkaleNetwork Europa Liquidity Hub!Thanks to SKALE, validators earn from dApp subscriptions, so there are NO GAS FEES for you!Enjoy SushiSwap with zero gas fees! 🍣🚀https://t.co/kEo5LRdWrO pic.twitter.com/fikElrMPxS

— Sushi.com (@SushiSwap) August 3, 2024

SushiSwap Completes Chain Subscription Payment on Skale Network

In its latest post, SushiSwap expressed its enthusiasm for this initiative. Because of the innovative model of Skale Network, SushiSwap consumers can now leverage trading without bothering with gas fees. The respective development proves a game-changer facilitating the DeFi enthusiasts by unburdening them from high transfer charges on other platforms. The Skale Network uses an exclusive subscription-based model.

It lets validators generate yields from their dApp subscriptions. This eliminates the requirement for conventional gas fees. The respective approach not only decreases charges for consumers but also guarantees a more effective and smoother trading experience. A couple of factors that place Skale Network among prestigious platforms include efficiency and scalability. It delivers a resilient infrastructure to facilitate dApps.

The Initiative Facilitates SushiSwap Consumers with No Gas Charges

SushiSwap leverages the capabilities of Skale to improve consumer experience and bring additional traders to its forum. The Europa Liquidity Hub specifically provides streamlined transfers and substantial liquidity. This turns it into an ideal environment to benefit a well-known company like SushiSwap. SushiSwap assured its users that they can continue their operations with no gas charges following this development.

Does thinking of all the great missed opportunities in the cryptosphere make you restless? Do you regret not investing in SLOTH and STRUMP at the right time, which would have brought you sure-shot riches? MoonBag(MBAG) is here to compensate for your missed chances and give you better opportunities. 

MoonBag has proven to be one of the best crypto coin presales of all time, with a clear roadmap that will bring riches to everyone who participates. Are you ready to invest in MBAG, or do you want to miss out on this opportunity, too?

Slothana: The Sleepy Meme Coin with Surprising Strength

Thanks to its strong community support and engaging marketing, Slothana is gaining traction as a leading meme coin. The coin’s lazy sloth mascot, which lives on the Solana blockchain, resonates with younger investors. Slothana recently raised $15 million in its presale and has actively engaged its community on platforms like Reddit and Twitter. The coin’s upcoming listings, partnerships, and frequent teasers have investors optimistic about significant growth. With its unique branding and strategic market presence, Slothana is positioned for notable success in the meme coin space.

Super Trump: Riding the Political Wave

Super Trump (STRUMP) has recently created quite a buzz in the crypto world. On May 29, 2024, STRUMP’s price surged over 200%, reaching a new all-time high of $0.02298. This makes it one of the top-performing political meme coins. The upcoming U.S. presidential election and the influence of former President Donald Trump fuel the excitement around STRUMP. Investors and community members eagerly speculate on the coin’s potential to rise even further as the election draws nearer, showing strong interest and engagement with STRUMP’s prospects.

Despite the typical market ups and downs, STRUMP’s popularity continues to grow, fueled by political connections and community support.

This significant price movement reflects how political events can influence cryptocurrency values, drawing attention to coins like STRUMP linked to high-profile figures and events. The excitement around Super Trump highlights the unique intersection of politics and the crypto market, attracting a blend of political enthusiasts and investors.

MoonBag: The Presale Powerhouse

MoonBag is a promising project currently in the 7th stage of its presale, having already raised $3.8 million. Each MBAG coin is priced at $0.0005, allowing investors to get 2,000 coins for just 1 USDT. This stage offers significant growth potential, with a projected 40% ROI when the presale moves to stage 8, a 300% ROI by the end of the presale, and a 500% ROI upon listing on various crypto exchanges.

MoonBag’s strategy is built on solid foundations. Liquidity and a portion of the team’s coins are locked for two years, ensuring long-term stability and commitment. Ethereum enhances scalability and security, supporting smooth and efficient transactions.

The project’s tokenomics are meticulously designed to foster growth and reward holders. With 40% of coins allocated for the public presale, 25% for staking, and significant portions for liquidity, community incentives, and the referral system, MoonBag aims to build a sustainable and thriving economy within its community.

To stay updated and connected, join the MoonBag community on Telegram (“moonbag hq”). With Ethereum 2.0 and other scaling solutions on the horizon, MoonBag is set to handle future challenges and opportunities, making it a compelling investment opportunity.

How to Buy MoonBag 

If you want to participate in one of the best crypto coin presales, go to the official MoonBag website, connect your digital wallet, follow the steps, and buy MBAG coins.

Conclusion

Slothana, Super Trump, and MoonBag each bring unique elements to the crypto market. Slothana leverages its engaging mascot and community-driven approach to capture interest, especially among younger investors. Super Trump has seen a significant price surge, driven by political excitement and the upcoming U.S. presidential election, making it a standout political meme coin. MoonBag stands out with its best crypto coin presale, robust liquidity management, and strong community support, promising substantial ROI for early investors. Each coin appeals to different investor interests, from meme culture and political influence to structured financial growth.

Join One of The Best Crypto Coin Presales

Presale: https://moonbag.org/presale 

Whitepaper: https://moonbag.org/documents/whitepaper.pdf 

Twitter: https://twitter.com/Moonbag_org 

Telegram https://t.me/MoonBag_official

The well-known Ethereum ETF “Grayscale ETHE” has recently witnessed a huge decrease in its outflows. Arkham, a prominent blockchain analysis firm that uses AI to anonymize on-chain and blockchain data, has disclosed that Grayscale ETHE recorded an enormous eighty percent slump in its outflows during the past seven days. The platform took to its official X account to provide insights into this development.

GRAYSCALE ETHE OUTFLOWS DOWN ~80% THIS WEEKGrayscale ETHE outflows this week are down almost 80%.Monday: 108.8K ETH ($367.6M) sent to CoinbaseFriday: 24.9K ETH ($78.4M) sent to CoinbaseIs the selling almost over? 👀 pic.twitter.com/QfooUqtjqo

— Arkham (@ArkhamIntel) August 3, 2024

Grayscale ETHE Witnesses a Significant 80% Decline in Outflows in the Past 7 Days

In its recent post, the firm mentioned that the 80% plunge in the outflows of Grayscale ETHE indicates a change. As per it, the respective development points toward a likely shift in the overall market dynamics. In terms of early week outflows, Grayscale ETHE went through significant outflows of up to 108.8K ETH on Monday. This amount accounts for a value of nearly $367.6 million.

The respective big transaction of ETH moved to Coinbase, signifying substantial asset reallocation or selling pressure. Following that, by the end of the week on Friday, a remarkable reduction took place in the ETH outflows of the exchange-traded fund. The respective figure reportedly lowered to 24.9K ETH with a value of almost $78.4M. This resilient dip in the ETH volume being shifted to Coinbase highlights a decrease in selling operations.

The Decreased Outflows Imply the End of the Aggressive Selling Period

In addition to this, it also suggests a stabilization regarding investor sentiment. This shift might take into account diverse factors that have triggered it. They include reevaluation of investment plans, enhanced investor sentiment, or market stabilization. Arkham asserted that the minimized outflows could also point toward the end of the aggressive selling stage.