Raising a lot of money in the crypto world isn't easy. It takes a solid plan, a great team, and a promising project. The FATTY ecosystem has all of these, and it shows. They raised an impressive $1.5 million in just the first 12 hours of their presale. This big achievement shows how much people believe in FATTY's vision.
FATTY is inspired by the old-school Tamagotchi games, where you care for a virtual pet, but FATTY takes this idea and makes it modern with ways to earn while you play. Adding to their credibility, FATTY partnered with UFC Champion Jiří Procházka and launched a catchy song on Spotify, which you can listen to now
Exciting Plans and Big Thanks to the Community
The #FATTY team isn't stopping after the successful presale, as they have big plans for the future. One of their main goals is to create the FATTY Academy, where people can learn about crypto and gaming. They also plan to open a merch store where fans can buy cool FATTY-branded items.
The FATTY team is grateful for the community's support, which helped them raise $1.5 million in just 12 hours. As such, they are committed to improving the ecosystem. 
By the end of the year, they plan to add more mini-games to the FatBoy Game, making it more fun and engaging. They also plan to improve FatBot with more advanced features, making it a powerful tool for traders.
The FATTY Ecosystem: FatBoy Game and FatBot
The FATTY ecosystem is all about providing a fun and rewarding experience. At its heart is the #FatBoy Game, a new take on the Tamagotchi-style game. In this game, you keep your FatBoy character happy by doing different daily activities, such as brain games, sports challenges, and cooking tasks. 
When you do well in these activities, you earn FATTY tokens, a fun way to make money while playing.
Another important part of the FATTY ecosystem is #FatBot , a tool designed to make trading easier and safer. FatBot offers advanced trading features like block zero sniping, limit orders, and auto-trades. It makes trading more efficient and secure, which is great for serious traders. 
Therefore, if you hold FATTY tokens, you get access to special features in FatBot, like automatic #MEME screening and sniping, giving you an edge over others.
FATTY Tokens and Community Support
FATTY tokens are the core of the ecosystem, giving community members many benefits. These tokens can be used for various things within the ecosystem, like playing the FatBoy game or using the advanced features of FatBot. 
Moreover, the FATTY tokens are more than just digital money; they give you a stake in the project's future and are a way to engage deeply with the community. Thus, investing in FATTY tokens offers several advantages. 
The ecosystem focuses on secure transactions and sustainable ways to earn money, making FATTY tokens valuable assets. Support from big names like UFC Champion Jiří Procházka and the catchy song on Spotify also help boost the project's visibility and credibility.
Buying FATTY tokens during the presale is a smart move for those who want to join the FATTY ecosystem. It's a great chance to get in early and potentially see big returns as the project grows. 
To buy FATTY tokens during the presale, visit the official website, connect your compatible wallet, choose your payment method, select the number of tokens you want, and complete the transaction.
It's easy and straightforward to become part of this exciting project.
By holding FATTY tokens, you can enjoy the innovative features and opportunities within the ecosystem. Whether you're a gamer, trader, or investor, FATTY offers a dynamic and rewarding experience.
Find More About FATTY on FATTY.io
By joining the fun today, you will become a part of something extraordinary!

How do you know your #MEME game is getting your earnings pumped? Well, if they raise almost $1.5 M in the first 12 hours and with the help of its community, almost without any marketing, then you've found your champion!
This is the case with Fatty.io , the latest MEME game within the $FATTY ecosystem. But it is more than a game; it is an immersive journey through fun, excitement, engaging challenges, and a thriving and growing community.
The FATTY Ecosystem
The Fatty.io ecosystem is probably one of the most diverse at the moment, especially if we think of crypto MEMEs andgames. #FATTY is so much more than just FatBoy. Of course, FatBoy has its charm, and nobody can deny it, but the magic happens when you discover how much more you can do once you start playing it. 
#FatBoy is your ticket to the FATTY ecosystem, offering you a fun journey and plenty of earning opportunities. 
#FATBOT allows users to gain a technological advantage over retail by setting up a bot and sniping memes or altcoins from the very first second of trading. The platform offers fast trades, auto sniping, copy trading, trading analysis, buy/sell limits, and, probably most importantly (at least for some users), scam protection and an anti-rug mechanism. Besides, FATBOT is accessible from both desktop and mobile devices, and it developed a bot academy that can help new users set up their first bot. 

The Presale
As we mentioned before, FATTY focuses on making users’ crypto experiences better with each day that passes, encouraging them to take advantage of everything it offers. 
At the moment, FATTY is holding its first token presale event. The presale started on July 4, 2024, and the surprising and heartwarming thing is that the project managed to raise almost $1.5 million of its $1.8 million goal in the first 12 hours of the event. This is living proof of FATTY’s engaged community and the trust it puts into the crypto project.
The presale event will be divided into multiple phases with various prices for the FATTY token, the project.

Discover the World of FatBoy: Everything You Need to Know!
Ever miss those virtual pets like Tamagotchis or The Sims? FatBoy brings back that nostalgia with a modern twist: you can earn money while playing!
This innovative game lets you pick your chubby FatBoy and raise it like a MEME Tamagotchi. Plus, you can earn $FATTY tokens while you play, so double the fun, right?
And the best part? FatBoy is free to play for everyone. You don't need cryptocurrency to join the fun via Web2. But if you're into crypto, come to the Web3 side, as there are ways to earn even more!
Even the UFC Champion, Jiří Procházka, is a big fan of the FatBoy game. Thus, he joined the FatBoy characters in many exciting challenges, promoting the project and having loads of fun! You can watch the trailer on the official YouTube channel.
How to Become a Master FatBoy
Choose Your Perfect Pal;Become a Top Caretaker: Keep your little buddy well-fed, entertained, and smiling to earn $FATTY tokens.Unlock the Fun Factor: Spoil your FatBoy with awesome gear and adorable pets.Join the Mini-Game Mania;Reap the Rewards;
As you can see, the P2E game mechanics are simple, and the more you play and keep your FatBoy happy, the more rewarded you'll be! Choose from a hilarious cast of characters like Fat Don, Fatcz, Fat Kim, and many others, and note that each FatBoy has unique personality traits, levels, and "luck" stats!
Moreover, these quirky companions come in four rarities: Common, Rare, Epic, and Ultra, and each tier offers different gameplay advantages and, of course, crypto-earning potential.
So, are you ready to join the fun? Download the game on your iOS or Android device, and get ready to meet your new best friend.
$FATTY: More Than Just Rewards
Many P2E games focus solely on in-game rewards, neglecting the needs of the entire ecosystem and its community. As such, this often leads to issues with presales, marketing, and long-term sustainability.
However, FatBoy takes a different approach through its innovative blockchain project, prioritizing sustainability, which can be seen in its tokenomics approach.
You could think of it as a well-rounded pizza that is delicious and satisfying for everyone involved.
FATTY Tokenomics

The total supply is 1,000,000,000 and has an initial market cap of $991,000:
41% Presales;7% VC round;5% FatBoy team;12% Liquidity pools;10% Staking; 10% In-game rewards;1% Beta testing;2% Advisors;11% Marketing;1% Initial DEX Offering.
The $FATTY ecosystem includes more beneficial products, such as FatBot, a trading bot, and $FATTY Staking, but more is to come! So, brace yourselves; the FATTY Analytics, Store, and Academy will soon launch!

On-chain data reveals that around 4,000 wallets have significantly boosted web3 casinos and gambling websites, depositing $5 billion worth of cryptocurrency in 2023 alone.
Enormous Wealth Accumulation by Web3 Casinos
Web3 casinos and gambling platforms are experiencing substantial wealth accumulation, with only 4,000 Ethereum (ETH) wallets contributing $5 billion worth of crypto in 2023, according to data from Chainalysis. The New York-based blockchain forensic company disclosed in an August 5 blog post that high-frequency players have a significant impact on web3 gaming businesses, transacting an average of $7,000 worth of crypto each.
The Impact of Crypto Whales
While the number of crypto whales engaging with web3 casinos is relatively small, their financial contributions are immense. Approximately 500 such whales, each sending around $25,000 in crypto on average, collectively transferred $320 million in 2023. This highlights the stark disparity between the contributions of casual players and VIP clients.
Transaction Patterns
Chainalysis reports that most transactions on web3 casinos involve personal wallets, with the majority of players using these wallets for deposits and withdrawals. Specifically, deposits and withdrawals related to web3 casinos from personal wallets account for 61% and 70%, respectively, while crypto exchanges make up 38% and 29%. Many players do not obscure their on-chain activities, allowing businesses to analyze player behavior.
Business Insights
By analyzing on-chain behavior, companies can gain insights into "player holdings, spending habits, and engagement across blockchain platforms." This information enables businesses to benefit from more accurate segmentation, tailored strategies, and a comprehensive view of off-platform activities crucial for engaging users.
Steady Growth and Potential Risks
Over the past four years, web3 casinos have seen steady growth in inflows, accumulating $78.7 billion in crypto. Despite this rapid expansion, Chainalysis has raised concerns about potential risks, indicating that some platforms could be used for money laundering.
Web3 casinos continue to thrive, driven by significant contributions from a relatively small number of high-frequency players and crypto whales. However, the industry must address potential risks to ensure sustainable growth and maintain trust among users.
#Web3 #crypto #casino

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Digital asset exchange WazirX has announced the filing of a First Information Report (FIR) following a hack that resulted in over $230 million in losses. The platform stressed its commitment to its users and continues to update them on the ongoing efforts to bring the hackers to justice. The aftermath of the incident has elicited mixed reactions from the community.
FIR Filed in Response to Hack
WazirX has officially filed an FIR in response to the notorious hack. The exchange explained on X (formerly Twitter) that the police have taken up the matter, registering the FIR under the BNS and IT Act on August 5, 2024.
“Based on a complaint filed by us in connection with the Cyberattack on our multisig wallet, the police have taken cognizance of the matter, and an FIR under BNS & IT Act has been registered on 5th August 2024 at PS Special Cell, PS Lodhi Colony, New Delhi through Intelligence Fusion & Strategic Operations, IFSO of Delhi Police,” stated WazirX.
Commitment to Recovery and Justice
The Indian-based exchange expressed confidence in the investigation and reiterated its cooperation with relevant agencies. WazirX assured users that it is diligently working to recover the stolen assets and bring the hackers to justice. The exchange faced significant community outrage after the hack, which drained over $230 million from its multisig wallet.
WazirX continues to provide updates on efforts to recover funds and enhance security measures. Recently, the exchange abandoned its loss distribution plan among users following severe backlash from the community.
Explanation for FIR Delay
Following the FIR announcement, users criticized the delay, noting that it came weeks after the incident. WazirX clarified that the initial police complaint was filed the day after the hack, and users were informed at that time. Nischall Shetty, co-founder of WazirX, explained that FIRs generally take more time after the initial complaint, reaffirming the platform's commitment to seeking solutions.
“Just like all our customers, we too want the culprits of this theft to be caught and the funds recovered. We’re constantly working on progressing toward next steps and solutions. We’ll continue to do that,” Shetty stated.
Conclusion
WazirX's filing of the FIR marks a significant step in addressing the hack and its aftermath. The exchange remains focused on recovering the stolen assets and enhancing security to prevent future incidents. While community reactions remain mixed, WazirX's ongoing efforts to bring the hackers to justice and improve platform security demonstrate its commitment to user protection and transparency.
#crypto #wazirX #hack

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Tron founder Justin Sun has recently withdrawn 14,884 Ether (ETH) from the Binance exchange, valued at approximately $35.97 million, according to data from Spot On Chain. This transaction adds to Sun's total ETH holdings, which he has been accumulating since February. With this latest addition, Sun now holds 392,474 ETH, estimated to have cost him $1.19 billion and currently valued at $995 million.
Denial of Liquidation Rumors
Sun's withdrawal coincides with his public denial of rumors suggesting he was liquidating his positions. As the price of ETH fell below $2,000 on Monday, speculation arose that over $200 million in Sun's leveraged long positions were being liquidated. Sun dismissed these claims as "false" and criticized leveraged trading strategies, stating that they do not significantly benefit the industry.
Additional Transactions
In the past three days, Sun has also deposited a net amount of $49 million worth of Tether (USDT) to the HTX exchange.

Market Recovery
Following a significant market downturn over the last 48 hours, the cryptocurrency market is showing signs of recovery. Bitcoin has surged to a high of $56,000, while Ethereum has risen to $2,525, gaining crucial support and rallying over 10% to reach a daily high of approximately $2,547.
The recent crash also affected major global stock indexes, leading Ethereum's fear and greed index to drop to 17 percent, indicating extreme fear. However, on-chain data analysis shows that whale investors, including Sun, have capitalized on this opportunity by withdrawing Ether. Notably, another large investor withdrew 16,236 ETH, worth about $40 million, from the HTX exchange.
Spot Ether ETFs
Additionally, the recently approved US-based spot Ether ETFs have registered a net cash inflow of about $1.64 million on Monday, driven by VanEck’s ETHV and Fidelity’s FETH.
$ETH #Ethereum #ETH

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Shiba Inu (SHIB) has experienced a significant price rebound, surging by 16%. Despite this uptick, trading volume has remained stable at 2.039T, indicating consistent trading activity without significant fluctuations. This recovery occurred during Tuesday's London trading session, helping SHIB recoup some of the losses from the previous market downturn. The SHIB price chart appears bullish, with the asset being one of the top gainers in the market-wide recovery, demonstrating a high correlation with Bitcoin.
Can the Shiba Inu Price Rally Continue?
Currently, SHIB is in a downward trend, as indicated by the descending wedge pattern. The latest candlestick shows a small green candle following a series of red ones, suggesting a potential short-term reversal or consolidation within the descending wedge. This pattern often indicates a corrective phase that might lead to a bullish breakout, but further confirmation is needed.
According to CoinGecko data, the 50-day Exponential Moving Average (EMA) is at $0.00001734, and the 200-day EMA is at $0.0000186, both above the current price, reinforcing the overall bearish trend.
The Shiba Inu price chart indicates an immediate support level around $0.0000115, with a stronger support zone between $0.00001 and $0.000011. This area, highlighted by the grey zone, has filled the fair value gap created during yesterday's crash and represents the last zone of market imbalance for SHIB, suggesting that the dip might be over.
Key Resistance Levels
Resistance is observed around $0.00001734 (50-day EMA), followed by $0.00001860 (200-day EMA), with a major resistance zone between $0.00002500 and $0.00003000. If SHIB fails to break above the 50-day EMA, the price might drop by 41% to $0.00001135, aligning with the bottom trendline of the falling wedge and falling into the FVG zone.
Technical Indicators
Relative Strength Index (RSI): The RSI stands at 33.01, close to oversold territory, indicating a potential short-term bounce but with an overall bearish sentiment.Chaikin Money Flow (CMF): The CMF is at -0.01, suggesting mild selling pressure.
If SHIB can break above the 50-day and 200-day EMAs, it could signal market strength and turn the asset bullish, potentially invalidating the bearish outlook. A breakout from the falling wedge might propel SHIB to $0.00002796, representing a 102% increase.
Conclusion
Shiba Inu's recent price recovery is noteworthy, but the asset faces significant resistance and overall bearish indicators. While there is potential for a bullish breakout, traders should watch key support and resistance levels closely to gauge the likelihood of sustained upward momentum.
$SHIB #SHIB #Shibarium

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The price of XRP has initiated a recovery wave from the $0.4320 support level, experiencing an increase of over 8%. However, it is now facing significant resistance near the $0.5120 zone, presenting challenges for further upward movement.
Key Points:
XRP price traded below the critical support levels of $0.500 and $0.4550.The current trading level is below $0.5250 and the 100-hourly Simple Moving Average (SMA).A key bearish trend line with resistance at $0.5120 is forming on the hourly chart of the XRP/USD pair (data source from Kraken).Clearing the $0.5150 resistance zone is crucial for continued recovery.
XRP Price Starts Recovery Wave
XRP's price experienced extended losses, dipping below the $0.500 support level, similar to the movements observed in Ethereum and Bitcoin. The bears managed to push the price even lower, past the $0.4550 support zone, reaching a low at $0.4320. From this point, the price embarked on a recovery wave, moving above the $0.4550 and $0.480 resistance levels.
The price ascended beyond the 50% Fibonacci retracement level of the downward wave, which ranged from a $0.5765 swing high to the $0.4320 low. Despite these gains, XRP remains below $0.550 and the 100-hourly SMA. A notable bearish trend line with resistance at $0.5120 is evident on the hourly chart.
The bulls are now confronting a significant hurdle near the trend line and the $0.5150 level. The primary major resistance is around the $0.540 level and the 100-hourly SMA, close to the 76.4% Fibonacci retracement level of the downward wave from the $0.5765 high to the $0.4320 low.
The next crucial resistance point could be at $0.550. A decisive move above this resistance might propel the price toward $0.5550, with further resistance levels at $0.5680. Any additional gains could push the price toward the $0.580 or even $0.5880 levels in the near term.
Potential for Another Decline?
If XRP fails to overcome the $0.5120 resistance zone, it may face another downward trajectory. The initial support on the downside is near the $0.4880 level, followed by significant support at $0.4750. A downside break and close below this level might lead to a continued decline toward the $0.4500 support. The next major support is positioned at $0.4320.
Technical Indicators
Hourly MACD: The MACD for XRP/USD is gaining momentum in the bullish zone.Hourly RSI (Relative Strength Index): The RSI for XRP/USD is now above the 50 level, indicating bullish momentum.
Support and Resistance Levels
Major Support Levels: $0.4880 and $0.4750Major Resistance Levels: $0.5120 and $0.5400
As XRP attempts to navigate through these hurdles, traders will be closely watching the key resistance and support levels to gauge the potential for a sustained recovery or another decline.
$XRP #XRP #Ripple

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Shiba Inu (SHIB) is experiencing a significant drop in value, currently trading at around $0.000012, a steep decline from its previous price of approximately $0.0002. This sharp decrease has sparked concerns among investors about the cryptocurrency's future as it struggles to maintain its value amidst a broader market downturn.
Market Downturn and SHIB's Struggles
SHIB, like many other digital assets, has been caught in a downward spiral due to a combination of bearish sentiment and widespread market liquidations. The substantial sell-off has pushed SHIB to its current lows, breaking through critical support levels and indicating a clear downtrend. Since reaching its peak earlier this year, SHIB has seen a price decline of 65%, underscoring the growing challenges it faces.
Key Psychological Levels and Bearish Signals
The meme coin's price is hovering near the crucial $0.00001 level, adding to the downward pressure. A drop below this psychological barrier could lead to further losses, potentially adding another zero to its value, a bearish signal for investors. On-chain metrics also paint a grim picture, with more than 1.2 trillion SHIB exchanged prior to the price drop, indicating low transaction volume and an ongoing exodus of large holders, known as whales.
Concentration of Holdings and Market Sentiment
Despite these challenges, a small number of wallets still hold 73% of the SHIB supply, showing a high concentration of large holders. While 47% of holders remain profitable, the overall market sentiment is bearish, reflected in the significant outflows and weak buying pressure.
Hope for Recovery
Despite the current difficulties, there is still hope for a recovery. If market conditions stabilize, the community support and speculative nature of meme coins like SHIB could drive a comeback. However, this would require a substantial shift in market sentiment and the influx of new capital.
Conclusion
Shiba Inu's recent price decline highlights the volatility and risks inherent in the cryptocurrency market. While the current outlook appears bleak, the potential for recovery remains if the market stabilizes and investor sentiment improves. For now, SHIB investors must navigate the uncertainties and closely monitor market developments.
$SHIB #Shibarium #SHIB

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The XRP community is abuzz with speculation as Ripple launches a dedicated website for its RLUSD stablecoin, raising hopes for a resolution to the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). However, legal experts caution that new challenges may be imminent.
Ripple's Potential Legal Battles
The introduction of the RLUSD stablecoin website has led some XRP enthusiasts to believe that Ripple is nearing the end of its legal troubles with the SEC. However, Fred Rispoli, a lawyer and strong XRP supporter, suggests otherwise. Responding to queries about RLUSD's impact on the ongoing case, Rispoli remarked, “Any issues the SEC has with $RLUSD is for another lawsuit and cannot be bootstrapped to one that is about to end!” This statement implies that Ripple could face a new lawsuit over its stablecoin, even if the current case concludes.
RLUSD Stablecoin Developments
Ripple’s President, Monica Long, had previously indicated a 2024 launch date for RLUSD, and the creation of a dedicated website suggests the company is in the final stages of preparation. Although the exact launch date is undisclosed, the XRP community is closely watching, hoping that the stablecoin's launch signifies an imminent resolution of the lawsuit.
Political Influence and Legal Speculation
The outcome of the lawsuit might also be influenced by the political landscape. If a pro-crypto administration takes office after the November elections, Ripple could potentially avoid another lawsuit. Presidential candidate Donald Trump has repeatedly expressed his support for cryptocurrencies, and former SEC attorney Marc Fagel believes the agency’s stance on the crypto industry might shift under a pro-crypto administration.
Judge Torres' Ruling and Settlement Prospects
Further speculation was fueled by former Ripple director Sean McBride, who posted about the odds of Judge Torres ruling in August, suggesting a “50/50” chance. Ripple CEO Brad Garlinghouse had predicted a resolution by the end of summer, and McBride noted that if there is a delay, a decision might come by the end of September.
However, the possibility of a settlement between Ripple and the SEC appears slim. Pro-XRP lawyer Bill Morgan and former SEC attorney Marc Fagel have both downplayed the likelihood of a settlement. Morgan described a potential settlement as “unlikely,” suggesting it would be more of a compromise than a significant victory. He also noted that Ripple could face ongoing challenges related to XRP sales beyond December 2020 and future token sales.
Market Impact and Token Unlock
The ongoing lawsuit has led to varied opinions among legal experts and XRP supporters. Ripple's Q2 2024 XRP market report expressed confidence in a "fair" ruling, maintaining that the core decision—XRP is not a security—will stand.
The SEC has demanded a substantial $1 billion penalty (excluding interest) from Ripple for alleged violations. Ripple, on the other hand, is willing to settle for no more than $10 million, highlighting the significant gap and the challenge of reaching a settlement.
Adding to the market dynamics, 1 billion XRP worth approximately $579.43 million was recently unlocked, causing an 8% drop in XRP's price, breaching the $0.6 support level. This move has intensified speculation about a potential Ripple-SEC lawsuit settlement, with some viewing it as a strategy to pay off penalties and resolve the case.
As the legal battle continues, the XRP community and broader crypto market remain on edge, closely monitoring developments and potential implications for Ripple’s future.
$XRP #XRP #Ripple

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Crypto exchange WazirX faced significant backlash over its proposed “55/45” plan to distribute losses from a recent cyberattack among its users. Following this uproar, the exchange has decided to abandon the controversial proposal.
Controversial Plan Sparks Outrage
On July 27, WazirX initiated a poll to gauge public sentiment on a recovery plan after the platform suffered a hack resulting in the loss of millions in crypto assets. The proposal aimed to distribute the $230 million loss among all users, allowing them to spend only 55% of their assets on the platform while converting the remaining 45% into stablecoin reserves.
Community Backlash and Abandonment of Plan
The plan met with severe criticism from the crypto community, leading WazirX to reportedly abandon it. The exchange's blog detailed the proposal, which sparked significant concern among users.
Co-Founder's Clarification
In response to the backlash, WazirX co-founder Nischal Shetty clarified that the poll was not legally binding and was merely intended to collect community feedback. However, this clarification did little to quell the dissatisfaction among users. Shetty acknowledged the severity of the cyberattack and emphasized the need for more time to devise a resolution. He assured users of the exchange’s commitment to transparency and ongoing updates based on user feedback.
User Concerns and Security Analysis
Users have raised numerous concerns about the exchange's efforts to reimburse victims of the hack. Some have accused WazirX of selectively answering questions and avoiding critical issues. Crypto security firms and analysts, including TruthLabs, have provided explanations on how the hack might have occurred. TruthLabs, in particular, had previously warned about security vulnerabilities affecting multiple layer 2 blockchains, which they believed could jeopardize billions of dollars in user funds.
TruthLabs' analysis suggested that WazirX's deployer address had transferred funds to destinations associated with laundering stolen funds. However, WazirX has denied these accusations, maintaining that it employs multiple key holders to ensure security.
Potential Ties to Binance
The security analyst also suggested that WazirX's main exchange address, established in 2022, might have originated from a Binance address previously connected to fraud and theft. This implication hints that WazirX and Binance may not have fully severed their ties as claimed.
In 2019, Binance announced it had “acquired India’s leading digital asset platform WazirX,” but later clarified that it was an agreement to purchase “certain assets and intellectual property” of WazirX. Binance's influence in the crypto space, being the largest exchange, means any developments involving it have systemic implications for the industry.
Moving Forward
WazirX’s decision to abandon the socialization of losses plan highlights the power of community feedback in the crypto world. The exchange’s commitment to transparency and user engagement will be critical as it navigates the aftermath of the cyberattack and works to restore trust among its users.
#wazirX #crypto #hack

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Jump Crypto, the cryptocurrency division of Jump Trading, has unstaked and transferred hundreds of millions of dollars worth of Ethereum (ETH) to various exchanges, prompting speculation about a potential large-scale sell-off.
Key Events and Data
On July 24, just one day after the launch of spot Ether exchange-traded funds in the United States, Jump Crypto began moving over 120,000 staked ETH tokens, valued at approximately $314.8 million. Blockchain analytics platform Arkham reported that these funds were unstaked from Ethereum redeem address “0x986…608c6” before being transferred to deposit addresses on Binance, OKX, Coinbase, ByBit, and Gate.io.
Significant Movements
Crypto sleuth EmberCN estimated that about $410 million worth of Ether has been unstaked, with $191 million already entering exchanges. Despite these large movements, Jump Crypto retains at least $125.8 million of staked Ether, including $116.1 million in wrapped-Lido Staked Ether (WSTETH).
In addition to Ethereum, Jump Crypto has also moved substantial amounts of other cryptocurrencies to exchanges, including USD Coin (USDC), Tether (USDT), Uniswap (UNI), and Shiba Inu (SHIB).
Market Impact and Speculation
The timing of these large transfers has raised eyebrows in the crypto community, especially as the total crypto market cap has decreased by 15% over the past week. Industry observers are questioning whether Jump Crypto is preparing to liquidate its assets. This suspicion is heightened by the fact that the transfers occurred over the weekend, a period typically marked by lower liquidity in the market.
Several commentators have criticized Jump Crypto’s actions. Blockchain sleuth “Wazz” suggested that the timing of the transfers was designed to inflict maximum market disruption, noting the transfers followed a particularly bad day in the stock market. Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, echoed this sentiment, criticizing Jump Crypto’s operational decisions.
Context and Response
These mass transfers come roughly five weeks after Kanav Kariya stepped down as President of Jump Crypto amidst reports of an investigation by the Commodity Futures Trading Commission (CFTC).
Cointelegraph reached out to Jump Crypto for comment on these developments but did not receive an immediate response.
The crypto community remains on high alert, closely monitoring Jump Crypto's movements and bracing for potential market impacts as more funds are moved to exchanges.
$ETH #Ethereum #Eth

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

XRP has experienced a significant drop in value, falling over 15% and trading below the critical $0.50 mark. The cryptocurrency is showing bearish trends and may face challenges in recovering past the $0.520 resistance level.
Key Points:
Current Price Movement: XRP has breached the $0.500 and $0.4850 support levels.Technical Indicators: The price is currently below $0.4880 and the 100-hourly Simple Moving Average (SMA).Resistance Levels: A notable bearish trend line has formed, with resistance at $0.5180 on the hourly chart for the XRP/USD pair (data sourced from Kraken).Potential Recovery: For a steady recovery wave, XRP needs to clear the $0.520 resistance zone.
Recent Price Activity:
XRP began a significant decline below the $0.500 support level, following a similar trend observed in Ethereum and Bitcoin. The cryptocurrency saw a sharp drop below the $0.4850 support zone, reaching a low of $0.460. Currently, XRP is consolidating its losses and demonstrating bearish signs below the 23.6% Fibonacci retracement level, calculated from the $0.5767 swing high to the $0.460 low.
Trading below $0.5880 and the 100-hourly SMA, XRP faces a key bearish trend line resistance at $0.5180. If a recovery wave occurs, the price might encounter resistance around the $0.4880 level.
Resistance and Support Levels:
Initial Resistance: The first major resistance is near the $0.500 level.Key Resistance: The $0.5180 mark, coinciding with the trend line and the 50% Fibonacci retracement level of the downward move from $0.5767 to $0.460.Further Resistance: If XRP moves past $0.520, it could target the $0.5350 resistance. Subsequent resistance levels include $0.5440, $0.550, and potentially $0.5650.
Potential Downside:
Should XRP fail to clear the $0.520 resistance zone, it risks further declines. The initial downside support is near $0.4650, with the next major support at $0.460. A break below this level could see XRP falling toward $0.4350, with further support at $0.4250.
Technical Indicators:
Hourly MACD: The MACD for XRP/USD is gaining momentum in the bearish zone.Hourly RSI: The Relative Strength Index (RSI) for XRP/USD is below the 50 level, indicating bearish momentum.
Major Support and Resistance Levels:
Support Levels: $0.4600 and $0.4500.Resistance Levels: $0.5000 and $0.5200.
The current market conditions suggest that XRP is under significant bearish pressure. For investors and traders, watching the $0.520 resistance zone and the support levels at $0.460 and $0.450 will be crucial in predicting XRP's next movements.
$XRP #XRP #Ripple

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

WIF, a Solana-based meme coin, has experienced a significant price decrease amid a broader cryptocurrency market correction. This downturn aligns with bearish trends seen in major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other top altcoins.
WIF Price Dips as Open Interest Slides
The recent correction in WIF's price coincides with a bearish trend in the Dogwifhat derivatives market. Over the past day, Dogwifhat's Open Interest has dropped by 10%, settling at $266 million. Despite a 40% surge in trading volume to $1.51 billion during the same period, the downtrend seems unlikely to continue. Total liquidations in long positions amounted to $571,000, reflecting cautious market sentiment.
The disparity between increasing volume and declining open interest suggests a lack of trader confidence, potentially signaling a looming market correction.
Navigating Through Market Volatility
In the past 24 hours, Dogwifhat's price has seen significant fluctuations, recording a low of $1.83 and a high of $2.04. As of now, the Solana-based meme coin is hovering around $1.88, marking a 6% dip during the European trading session.
Over the past month, WIF's price has declined by 16%, with a further 27% drop over the past week, indicating a persistent downward trend and raising concerns about its short-term stability.
Technical indicators on the 4-hour chart suggest a potential reversal for the WIF/TetherUS pair. Currently, the Relative Strength Index (RSI) stands at 29, indicating oversold conditions. The Moving Average Convergence Divergence (MACD) shows a weakening bearish trend, with the MACD line at -0.142, slightly above the signal line at -0.122. If bearish pressure increases, WIF could break below the $1.80 support level, potentially declining towards $1.70 and $1.50, signaling intense selling pressure.
Can Dogwifhat Rebound from Recent Lows?
Most top meme coins have seen declines over the past 24 hours. Dogecoin (DOGE) has dropped by 3.3%, Shiba Inu (SHIB) by 3.2%, Pepe Coin (PEPE) by 4.7%, Bonk (BONK) by 1.2%, and Floki (FLOKI) by 4.2%. This trend suggests a waning investor interest in meme coins following recent market fluctuations.
However, if bullish momentum returns, Dogwifhat's price could break the $2.00 resistance level, potentially climbing to $2.50 and even $3.00 in the next bullish run. This upward trend could attract more buyers, leading to a potential rally as investor sentiment shifts towards optimism.
In conclusion, while WIF's recent price decline and reduced open interest raise concerns, the oversold conditions and potential for a bullish reversal present an opportunity for cautious optimism among investors. Monitoring key support and resistance levels will be crucial in determining the next moves for WIF.
$WIF #wif #dogwifhat

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A recent post on the Mt. Gox insolvency subreddit has ignited significant controversy and backlash among community members. The original poster (OP) outlined their intention to file a lawsuit after discovering that their claims for Bitcoin (BTC) held on the defunct exchange might be void due to non-response to creditor notifications. This revelation has prompted other creditors to share their opinions on the potential lawsuit against Mt. Gox.
Mt. Gox Creditor to Sue Defunct Exchange?
Mt. Gox, once the world’s largest Bitcoin exchange, filed for bankruptcy in 2014 after losing approximately 850,000 Bitcoin, a significant portion of which belonged to its users. The exchange cited hacking and poor management as the primary causes of the loss. Since then, creditors have been embroiled in lengthy legal proceedings to recover their funds.
The OP, who mined Bitcoin on a laptop during the early days of the cryptocurrency, stated they had a small balance on Mt. Gox at the time of its collapse. Having largely checked out of the crypto scene since 2011-2013, the OP was unaware of the ongoing creditor processes. Recently, they discovered emails from the Mt. Gox insolvency team, including a 2019 email containing a creditor number. However, Mt. Gox claims that the OP has waived their right to recover their funds due to a lack of response.
Expressing frustration, the OP argued that the notices, some of which were in Japanese, were insufficient. They also cited the high volume of spam and scam emails related to the cryptocurrency industry. Describing the situation as “insane,” the OP sought recommendations for a lawyer to help take legal action. Despite acknowledging that legal fees would consume a substantial portion of any recovered funds, they chose to move forward. However, this decision was met with heavy backlash from other creditors.
Community Backlash
The criticism was direct and scathing, with many accusing the OP of negligence for failing to follow the Mt. Gox creditor process. One user emphasized the lengthy duration since the bankruptcy, noting that “it has now been more than 10 years since the bankruptcy.” They highlighted that all communications from Mt. Gox were sent in both Japanese and English, with some paper letters also mailed to the registered address. The user bluntly stated, “It is your own fault that you did not take care of it in time.”
Another user echoed this sentiment, pointing out that “not a single one of those emails was Japanese only, they all had English translations of the full body included.” This user suggested that the OP’s lack of action was solely their responsibility and that the existing Bitcoin had already been distributed. Additional responses were equally critical, with one remarking, “No, it’s not insane and the rest of us managed to do it just fine. You effed up and get nothing. Deal with it.” Another user noted the futility of seeking legal help at this stage, suggesting that a lawyer would merely “take your money to tell you the same thing.”
Further criticism came from users emphasizing that Mt. Gox did what was required to notify potential creditors. The OP’s failure to respond in a timely manner left them without recourse. The harshest criticism came from a user who stated, “You can’t just wait through distribution and then ask everyone to return what they got back into the pot so that you can have a slice of the pie.”
Despite the discouraging comments, the OP might still pursue legal action for their BTC claims. Responding to the criticism, they wrote, “Well y’all are a helpful lot. If you want to pass judgment, go ahead. But show some reading comprehension and answer the posted question.”
The situation highlights the challenges and frustrations faced by many Mt. Gox creditors, who continue to navigate the complex and often contentious process of recovering their lost funds.
$BTC #Bitcoin #BTC #MtGox

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Dogecoin's price has been on a downward spiral, dropping 16% over the past six days. Investors are now questioning whether this downtrend will continue or if it's an opportune moment to buy DOGE at a lower price. As of now, Dogecoin shows no signs of stopping its decline, which started on July 27.
Dogecoin Price Performance in August
The recent drop in Dogecoin’s price has persisted, with the cryptocurrency losing nearly 16% of its market value in just six days. This continued descent might present long-term investors with a good opportunity to buy the dip. Historical data suggests that Dogecoin tends to show weak performance in the third quarter. Over the past decade, Q3 has typically seen an average price performance of 1.55% or close to zero, with a median performance of –7.14%.
Focusing on August, Dogecoin's average return has been 0.28%, with a median performance of -5.23%. This supports the “buy the dips” strategy, especially when considering on-chain data. For instance, a buy signal that appeared for DOGE in early July remains valid, predicting a high probability of reversal. Santiment’s 365-day Market Value to Realized Value (MVRV) metric dipped to -21% in the first week of July, indicating that investors who bought DOGE in the past year are experiencing an average loss of 21%.
Historically, an MVRV value between -15% and -30% has been a good accumulation zone, often leading to price reversals and substantial rallies. If this trend continues, the July 5 swing low of $0.091 could act as a bottom, potentially leading to a recovery rally.
DOGE Price Ready to Reverse Downtrend
From a technical standpoint, Dogecoin's ongoing downtrend might end around the $0.107 to $0.113 support zone. If long-term investors or sidelined buyers start accumulating DOGE here, the price could experience a volatile uptrend.
In the event of a reversal, Dogecoin will face its first key resistance level at $0.128, representing a 14% rally from $0.113. Beyond this point, DOGE could revisit the $0.148 hurdle, which served as critical support between March and May 2024. If this barrier is flipped into a support floor, it could propel DOGE to retest the $0.175 to $0.181 resistance zone. This scenario would amount to a 55% gain from $0.113, likely forming a top at that level.
On the contrary, if Dogecoin breaks down below the $0.107 to $0.113 support zone, it will invalidate the bullish outlook and potentially lead to a 15% crash, bringing the price down to the July 5 swing low of $0.0913.
In summary, while Dogecoin’s price is currently in a free fall, key support zones and historical patterns suggest the possibility of a reversal. Investors should closely monitor these levels and market signals to make informed decisions.
$DOGE #Dogecoin #Doge🦊

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The ApeCoin community has given the green light to a proposal for establishing an ape-themed hotel in downtown Bangkok, Thailand. According to the approved plan, 50% of the revenue generated during the first year will be allocated to the ApeCoin treasury to support ongoing project development.
This decision follows a community vote on a proposal requesting 410,100 Ape tokens, equivalent to $3.6 million. The initiative aims to increase the exposure of the Bored Ape Yacht Club (BAYC) intellectual property (IP) and enhance the visibility and utility of ApeCoin.
A Fusion of Art, Hospitality, and Crypto
Known as AIP-444, the proposal received a 78.3% approval vote from the community. The hotel will feature ape-themed rooms named APE, Bored Ape Yacht Club (BAYC), Apechain, Otherwise, and Mocaverse. Upon completion, ApeCoin DAO will receive 50% of the room revenue.
“Our goal is to enhance the BAYC IP exposure, visibility, and utility of ApeCoin and generate actual revenue for ApeCoin DAO,” stated ApeCoin.
The proposed hotel will handle local compliance for the settlement of funds. In addition to the themed rooms, the hotel will offer a variety of activities, including ApeCoin-themed exhibitions, an Ape bar, an Ape swimming pool, and an MBA-themed exhibition area.
“This proposal combines IP application, the hotel industry, the arts, and the cryptocurrency field,” added ApeCoin. These elements are expected to promote ApeCoin, ApeChain, and the various Ape communities.
Exclusive Benefits for ApeCoin Holders
In addition to revenue, ApeCoin holders will enjoy exclusive benefits when using the hotel’s services, which is anticipated to strengthen the ApeCoin ecosystem and provide unique advantages to its community. The hotel will accept ApeCoin as payment for rooms and bar services. Benefits for ApeCoin holders include free access to the MBA exhibition area and complimentary use of the rooftop bar for events.
The hotel will also offer 50 free room nights to Ape holders. The establishment aims to foster community engagement by allowing ApeCoin members to host events every two months, enhancing connections within the community.
According to the proposal, the AIP team will manage event organization and venue setup at no extra cost. This development follows the July 16 launch of the ApeChain testnet by ApeCoin DAO. Earlier this year, the Ape community agreed to launch a layer-2 network on the Arbitrum network.
By integrating art, hospitality, and cryptocurrency, this innovative project aims to increase the prominence and utility of ApeCoin while offering tangible benefits to its holders.
$APE #Apecoin #crypto #cryptohotel

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Speculation about a potential settlement between Ripple and the U.S. Securities and Exchange Commission (SEC) has resurfaced with the unlocking of 500 million XRP tokens, valued at approximately $297.74 million. This significant release has led to an 8% slump in XRP’s value, causing it to breach the $0.6 psychological support level.
Legal Experts Weigh In
The large unlock has intensified speculation regarding a possible settlement in the ongoing legal battle between Ripple and the SEC. The SEC is seeking a substantial $1 billion (plus interest) penalty from Ripple for alleged violations, while Ripple has indicated a willingness to settle for no more than $10 million.
Last week, pro-XRP attorney Bill Morgan described a potential Ripple SEC settlement as “unlikely.” However, he suggested that if a settlement does occur, it would be more of a compromise than a significant victory. Morgan emphasized that “settlements generally end matters in dispute, including appeal rights in the current proceedings.” He pointed out that Ripple might face challenges related to XRP sales beyond December 2020 and future XRP sales.
Former SEC lawyer Marc Fagel has also reinforced his stance that the SEC’s closed-door meetings are unrelated to the ongoing lawsuit. He predicted that a Ripple SEC settlement is unlikely as neither party appears willing to settle. Fagel also foresaw appeals from both sides after the ruling, indicating that the SEC’s exorbitant penalty might not be fulfilled, which could ease the pressure on Ripple.
Appeals and Remedies Ruling
The timing of the XRP unlock coincides with heightened anticipation around a ruling in the Ripple lawsuit's remedies phase. Initially expected on July 31, legal experts now predict the ruling may be delivered in August, possibly in the first half.
Wealth advisor Mickle and others consider the SEC’s case against Ripple to be weak, citing Ripple’s previous legal victories. Despite this, the possibility of both parties appealing earlier decisions remains, complicating the resolution of the case. Mickle also noted that the political climate, including a Democratic shift towards pro-crypto policies, might influence the likelihood of an appeal. He mentioned that Ripple is unlikely to appeal after the remedies phase ruling, especially considering the Kamala Harris campaign's attempts at a crypto reset.
Conversely, attorney Bill Morgan argued that if legal considerations alone guide the decision, appeals from both parties are likely. He clarified, “My point is merely that if legal considerations are the only basis for a decision to appeal, there is a good chance that the decision will be made to appeal.”
Morgan elaborated on potential legal strategies Ripple might adopt, suggesting that the firm could appeal based on distinctions between institutional sales and sales to On-Demand Liquidity (ODL) customers, given the fact-specific nature of the Howey test. He also explained the SEC’s rationale behind a potential appeal, noting that the SEC believes the Judge may have made an error, which is evident from its request for an interlocutory appeal.
Market Impact
The recent movements and legal speculations have contributed to market uncertainty for XRP. As the crypto community closely watches these developments, the outcome of the legal proceedings and the potential for appeals will likely play a crucial role in shaping XRP’s future market performance.
In conclusion, while the Ripple SEC settlement rumors and the substantial XRP unlock have stirred significant market activity, the ultimate resolution remains uncertain. Legal expert opinions and the impending remedies phase ruling will be critical in determining the next steps for both Ripple and the broader cryptocurrency market.
$XRP #XRP #Ripple

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Genesis Trading has transferred $126 million in Ethereum (ETH), sparking speculation about bankruptcy proceedings and creating ripples in the cryptocurrency market. This significant movement coincides with Ethereum's recent struggles to stabilize its price following the launch of ETH ETFs and signals from a dovish Federal Reserve.
Genesis Trading’s Ethereum Transfers
In a notable market development, Genesis Trading moved approximately $126 million worth of Ethereum. Specifically, the company transferred 27,500 ETH (valued at about $87.09 million) to an address starting with 0xcbCF and an additional 12,500 ETH (worth roughly $39.59 million) to an address beginning with 0x72FE. These transactions are suspected to be part of bankruptcy liquidation procedures, raising concerns and alerting the crypto community.
This significant movement occurs during a period of price uncertainty for Ethereum. Despite the recent launch of Ethereum ETFs, which were expected to boost the cryptocurrency's value, ETH has struggled to maintain its position above $3,500. Currently, it is approaching a critical support level at $3,100, reflecting a classic “buy-the-rumor-sell-the-news” pattern following the ETF launch.
Ethereum’s Market Performance
Market analysts observe that ETH briefly recovered to $3,143, but trading below the broken ascending trendline may encourage bears to increase short positions, potentially pushing the price below $3,000. For a bullish outlook to resurface, ETH needs to reclaim this trendline as support and aim for the area above $3,500.
Adding to the bearish sentiment, the short-term Ethereum price forecast reveals a concerning RSI (Relative Strength Index) divergence. A break above this divergence is necessary to confirm any solid recovery. Failure to recapture the $3,200 support level by the end of the day could heighten the risk of ETH sliding below the psychologically important $3,000 mark.
Despite the recent launch of ETH ETFs, Ethereum's price has been struggling. The cryptocurrency has failed to maintain its position above $3,500 and is now approaching a critical support level at $3,100. This performance suggests a “buy-the-rumor-sell-the-news” pattern following the ETF launch.
For a bullish outlook to return, ETH needs to reclaim the trendline as support and target the area above $3,500. The short-term forecast also shows a concerning RSI divergence, indicating that ETH must break above this divergence to validate any solid recovery.
Broader Market Context
These developments are happening against the backdrop of recent economic events and market trends. The Federal Open Market Committee (FOMC) meeting signaled a dovish stance from the Fed, with a September rate cut now fully priced in. However, this positive sentiment in equities did not translate to the crypto market, which saw a broad sell-off.
Traders are closely watching daily ETH ETF outflows and potential supply pressures from sources like Mt. Gox and the US government. Some analysts suggest using strategies like accumulators to systematically buy ETH below $3,000, given the possibility of a range-bound market period. These factors collectively create a complex picture for Ethereum’s immediate future, with both challenges and potential opportunities for investors and traders.
In conclusion, while Genesis Trading's substantial Ethereum transfers and the current market volatility present immediate challenges, they also highlight the dynamic nature of the crypto market. Investors and traders should closely monitor market signals and whale activities to navigate the potential risks and opportunities ahead.
$ETH #Ethereum #ETH

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Pepe, an Ethereum-based meme coin, has shown significant price fluctuations following recent developments in the cryptocurrency market. Over the past week, Pepe's price has experienced sharp swings, mirroring broader trends within the crypto space. The token is currently hovering around $0.00001, with bulls and bears contesting its value amid the ongoing market uncertainty.
Whale Transactions Signal Potential Market Shifts
Despite a general market decline, Pepe's price surged recently as a whale deposited 400 billion PEPE tokens, worth $4.22 million, to Binance to take profits. This transaction highlights significant movements in the cryptocurrency market as investors closely monitor whale activities.
Previously, the same whale withdrew 795.92 billion PEPE tokens, valued at $2.55 million at the time, from Binance on March 1. Following the recent deposit, the whale still holds 395.93 billion PEPE tokens, approximately $4.18 million. The total profit generated by this investor amounts to $5.85 million, representing a remarkable return on investment (ROI) of 230%. This substantial gain showcases the potential rewards within the cryptocurrency space and the strategic maneuvering by investors to capitalize on market trends.
Over the past 24 hours, Pepe's price has experienced an 8% decline, currently standing at $0.00000105. The trading range for the day saw a low of $0.000001043 and a high of $0.000001162. Over the past week, the meme coin has been on a descending trend, with an 11% decrease and an 8% monthly drop.
Is the Market Poised for Recovery?
If the bearish trend continues, PEPE could break below the support level at $0.00001. A further decline could push the price down to $0.0000097 and eventually to $0.0000095, indicating strong selling pressure in the market. The technical indicators for Pepe reveal a mixed outlook in the cryptocurrency market. The Relative Strength Index (RSI) is currently at 27, indicating that the asset is in the oversold territory, suggesting a potential for a price reversal.
The Moving Average Convergence Divergence (MACD) shows bearish momentum, with the MACD line slightly below the signal line and the histogram indicating a negative trend.
According to Coinglass data, the Pepe derivatives market is showing signs of a potential decrease in investor confidence. Open interest has fallen by 5%, settling at $140 million. This reduction typically indicates that fewer contracts are open and active, suggesting that traders might be exiting their positions.
However, if the market rebounds, Pepe's price could rally above the $0.0000105 resistance level. Continued bullish momentum could drive the price to $0.000011 and potentially reach $0.000015 in the next bullish run.
In summary, while Pepe faces significant volatility, the actions of major investors and technical indicators suggest potential scenarios for both further decline and possible recovery. Investors should closely monitor market trends and whale activities to make informed decisions.
$PEPE #pepe

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“