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!

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

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.“

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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,,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.“

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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,,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.“

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.“

Cardano has recorded a staggering $6.52 billion in large transaction volume in the last 24 hours, according to data from IntoTheBlock. This impressive figure places Cardano nearly on par with Ethereum.
Large Transaction Volume estimates the total amount transacted by whales and institutional players on a particular day. Spikes in these volumes indicate increased activity among these major players, whether buying or selling. In this context, large transactions refer to those exceeding $100,000.
According to IntoTheBlock, Cardano's $6.52 billion in large transaction volume closely trails Ethereum's $6.94 billion within the same period. While Ethereum continues to dominate in terms of total value locked (TVL) and the number of decentralized applications (dApps), Cardano's significant transaction volume suggests growing institutional interest.
This growth in Cardano's large transaction volume comes amidst a broader market sell-off. Ethereum, the second-largest cryptocurrency by market capitalization, experienced a 20.94% decline in large transaction volume as its price fell 4.22% in the last 24 hours, trading at $3,177.
Similarly, Cardano's price has declined by 3.82% in the same timeframe, currently trading at $0.385. Despite this, Cardano ranks as the 10th largest cryptocurrency by market cap, highlighting the significance of its large transaction volume growth.
Crypto Market Faces Selling Pressure
The cryptocurrency market experienced a sharp decline on Wednesday as investors reacted to the outcomes of the July Federal Reserve meeting. The losses continued at press time, with most cryptocurrencies losing value.
Following its July meeting, the Fed left benchmark interest rates unchanged and provided little indication that a much-anticipated rate cut in September was certain. Fed Chair Jerome Powell stated that while no decisions had been made about a September rate cut, the "broad sense is that we're moving closer" to such a move.
In summary, while the overall crypto market faces selling pressure, Cardano's substantial large transaction volume indicates robust activity and potential growing institutional interest, positioning it as a notable competitor to Ethereum.
$ADA #Cardano #ADA
$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.“

Solana's price on-chain metrics remain bullish, characterized by high transaction rates and a notable increase in total value locked (TVL), reflecting growing investor confidence. Solana, which recovered from a staggering 96% crash, has risen to become the fourth-largest cryptocurrency by market capitalization. Recently, the asset broke out from a bearish market structure, signaling a potential bullish phase. Despite an 8% drop in the last 24 hours, trading at $169, the price analysis suggests that Solana (SOL) may rally back to its yearly high of $210.
Solana Price Eyes a Bounce
Solana's price is in an upward trend, having broken out of a descending triangle pattern and trading above both the 50-day (green line) and 200-day (black line) exponential moving averages (EMA). This breakout signals strong bullish momentum, further supported by recent candlestick formations with large green candles, indicating robust buying pressure.
Currently, a small double-top pattern is forming above the descending triangle, with price action at the neckline around $169. A break below this level could lead to a drop to the key support level of $160 (50-day EMA). If bearish pressure persists, Solana's price may fall to $138 (200-day EMA), which lies within the triangle. Conversely, a bounce from the 50-day EMA could propel SOL to the next major resistance level at $210, marking a potential 30% upswing.
The Relative Strength Index (RSI) is at 62.35, indicating bullish momentum but nearing the overbought region. This suggests a slight pullback might occur before further upward movement. The Chaikin Money Flow (CMF) supports the RSI, currently at 0.12 but trending downward, indicating positive money flow but reducing buying pressure. The spike in Solana's trading volume during the descending triangle breakout confirms the validity of the upward movement, with sustained high volume supporting further bullish continuation.
Should the asset break below the $138 (200-day EMA) support level, it would signal market weakness, potentially leading to a swing low to the next support level of $98. This scenario would turn Solana's price action bearish, invalidating the current bullish thesis supported by the triangle breakout.
SOL On-Chain Metrics Support a Bullish Scenario
Data from the Solana explorer Solscan shows the current true transactions per second (TPS) at 700, with an average transaction success rate of 91%. The high TPS and success rate indicate Solana's capability to scale to more users, which is bullish for SOL's price.
This bullish premise is reinforced by the growing number of active accounts on Solana, which reached a three-month high on July 31, 2024. This increase signals a surge of investor interest in the network, suggesting that Solana's price is poised to follow suit. Additionally, the rising number of wallets has led to a 19.23% month-to-date increase in Solana's total value locked (TVL), indicating that new investors are gaining confidence and funneling funds into the network.
However, if TPS drops significantly, it could result in investors fleeing the network. Reduced volume may negatively impact TVL, causing SOL to become overvalued and invalidating the bullish on-chain thesis.
In conclusion, while Solana faces short-term corrections, its long-term outlook remains positive, supported by strong on-chain metrics and a potential rally to the $210 target. Investors should monitor key support levels and on-chain activity to gauge the sustainability of Solana's bullish momentum.
$SOL

#Solana #sol

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David Solomon, CEO of Goldman Sachs, has suggested that Bitcoin could indeed serve as a store of value. He voiced this sentiment during an interview with CNBC TV on Tuesday, responding to questions from correspondent Andrew Ross Sorkin.
Bitcoin’s Evolving Status
When asked about Bitcoin’s evolving status and endorsements from prominent political figures like former President Donald Trump and current efforts by Vice President Kamala Harris to engage with the crypto community, Solomon provided his perspective. He clarified that he has never taken a definitive stance on Bitcoin's long-term endurance but reiterated that Bitcoin remains a speculative investment with an unclear use case.
Admiration for Bitcoin’s Technology
Despite his cautious stance on Bitcoin as an investment, Solomon expressed admiration for the technology behind it, describing it as "super interesting." He emphasized its potential to digitalize the financial system and reduce friction. While he appreciates the potential benefits of cryptocurrencies in streamlining global finance, Solomon avoids focusing on price predictions, noting he does not spend significant time forecasting whether BTC will reach $70,000 or $120,000.
Bitcoin as a Store of Value
In response to a question about Bitcoin's potential role similar to a gold reserve, Solomon acknowledged, “There very well could be a store of value case.” However, he noted that he has never been a strong advocate for gold. Reflecting on long-term investments, Solomon pointed out that historically, gold investments have performed well over 25 to 50-year periods. Considering Bitcoin's performance over the last decade, he believes it fits the context of a store of value.
A historical chart comparing the 13-year performance of global investment instruments alongside Bitcoin shows that BTC greatly outpaces traditional assets like gold and stocks. Bitcoin’s cumulative return since 2011 amounts to a staggering 18,881,969%, compared to gold’s 59% growth over the same period, according to a chart shared by MicroStrategy Chairman Michael Saylor.
Financial Leaders Endorsing Bitcoin
David Solomon joins the ranks of global financial leaders recognizing Bitcoin as a legitimate store of value. Earlier this month, Larry Fink, CEO of BlackRock, admitted that he was wrong during his days of Bitcoin criticism, now referring to Bitcoin as a legitimate financial instrument.
In summary, while the CEO of Goldman Sachs remains cautious about Bitcoin's speculative nature, he acknowledges its potential as a store of value and admires the underlying technology's capability to transform the financial system.
$BTC #BTC #Bitcoin

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Ki Young Ju, CEO of CryptoQuant, has reported a significant rise in limit buy orders for altcoins, signaling a potential rally. This surge suggests that investors are establishing strong buy walls for altcoins, excluding Bitcoin and Ethereum, possibly in anticipation of an impending altcoin rally.
“Whales are preparing for the next altcoin rally,” Ju posted on X (formerly known as Twitter).
Indicators of a Potential Rally
The increase in limit buy order volume indicates robust buying interest, which often precedes market upswings. For those unfamiliar, limit orders create “quote volume” on exchanges, while market orders generate “taker volume.” Whales and institutions, such as market makers and brokerages, typically use limit orders for large trades to minimize slippage.
Altcoins Rise as Bitcoin Rises
During an altcoin rally, the prices of alternative cryptocurrencies experience significant increases. This surge is often driven by positive market sentiment, increased trading volumes, and a shift of investor focus from Bitcoin to altcoins. Factors such as Bitcoin price movements, fear of missing out (FOMO), and market speculation play crucial roles in an altcoin rally. When Bitcoin’s price rises, profits often flow into altcoins, further boosting their prices.
Limit order indicators are calculated by summing the difference between buy and sell quote volumes over a one-year moving window. An upward trend signifies a rise in quote buy volume, pointing to the formation of strong buy walls. This pattern suggests a potential bullish movement in the altcoin market.
$FATTY Presale on Fatty.io: A New Opportunity
In addition to the positive signs for an altcoin rally, the Fatty.io presale is gained attention. FATTY, multiple utility token for active and passive income.
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.

$BTC $ETH #altseason2024 #altcoins #Altcoins👀🚀 #Fatty

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Ethereum (ETH) faces several critical challenges that need to be addressed for its price to surge past $4,000. These include increased institutional adoption, enhanced scalability, and sustainable growth of its decentralized application (DApp) ecosystem.
Current Market Conditions
Ethereum last traded above $4,000 on March 14, well before the U.S. Securities and Exchange Commission approved the Ether spot exchange-traded fund (ETF) on May 23. Despite this approval, traders are questioning the bullish momentum and what might drive a sustained rally above $4,000.
Underwhelming Launch of Ether Spot ETF
The lackluster performance of the cryptocurrency market has contributed to investor skepticism. The sector's total capitalization stands at $2.42 trillion, down 16.5% from its 2024 peak of $2.82 trillion on March 14. The U.S. Federal Reserve's strategy to curb inflation without causing a recession has reduced the appeal of alternative assets, including cryptocurrencies.
Ether's price relative to Bitcoin (BTC) has declined by 10% over two months. The $406 million net outflows from aggregate Ether spot ETFs in the U.S. since their debut on July 23, particularly from Grayscale’s products, further highlight the challenges.
Stagnant Ecosystem Growth
Ethereum's total value locked (TVL) has remained unchanged at 17.8 million ETH over the past two months, suggesting stalled ecosystem growth. Although high gas fees incentivize layer-2 scaling solutions, their TVL has also remained flat at 12.9 million ETH, according to L2Beat data.
For Ethereum to reclaim the $4,000 level, increased interest from institutional investors is crucial. This could be indicated by net spot ETF inflows in the U.S. or a halt in outflows from the Grayscale ETHE fund. As institutional money enters the space, a corresponding increase in the ecosystem’s TVL would be expected.
Skepticism and DApp Growth
Some investors are skeptical about the growth of DApp deposits, often due to venture capital involvement or projects that see large inflows ahead of airdrops but fail to sustain the initial hype. TVL growth should align with improvements in other on-chain metrics, such as the number of active addresses.
Ethereum's Competitive Landscape
Despite claims of superior decentralization, Ethereum faces competition from platforms like Solana, BNB Chain, and Tron. Notably, Hamilton Lane, a U.S.-listed asset manager, chose Solana’s Libre for a recent tokenization project, highlighting a preference for other platforms.
Solana has also surpassed Ethereum in decentralized exchange (DEX) trading volumes, capturing a 29.6% market share in July compared to Ethereum's 28.1%, driven by memecoin launches on Pump.fun.
Scalability Improvements and Future Roadmap
Ethereum’s price growth depends on the timely implementation of scalability improvements, including sharding and miner extractable value (MEV) mitigation strategies. The proposed Danksharding aims to increase the limit of one blob per block to 64, enhancing data availability.
The upcoming Pectra fork is expected to introduce Verkle trees, which will reduce storage requirements and improve data accessibility. Additionally, zero-knowledge SNARKs are anticipated to enhance privacy and compress transaction data into succinct proofs, reducing blockchain storage requirements.
Conclusion
Ethereum’s path to $4,000 in 2024 is achievable but hinges on addressing key issues related to institutional adoption, scalability, and DApp ecosystem growth. As these challenges are met, the potential for ETH to reach and sustain a price above $4,000 becomes more viable.
$ETH #Ethereum #ETH

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Shiba Inu (SHIB) is facing significant market pressures, with its price falling towards $0.000016 on July 31. On-chain data reveals that short-term traders are exiting their SHIB positions, raising concerns of a potential breakdown below the $0.000015 level.
Shiba Inu Bulls Retreat Toward $0.000016
The anticipated bullish sentiment from Donald Trump's recent appearance at the Bitcoin Nashville conference did not materialize as expected. Instead, recent market trends indicate that investor focus has been primarily on mega-cap assets, leaving the memecoin sector, including Shiba Inu, struggling to gain traction. Following the launch of Ethereum ETFs on July 22, bearish traders have dominated the Shiba Inu short-term market momentum. This heightened volatility has led crypto investors to adopt a more cautious trading outlook toward Ethereum-hosted assets like Shiba Inu.
Bears Mount Another $100 Million Sell-Wall
As of July 31, SHIB’s price had decreased by 19.18% from its monthly peak of $0.000018 recorded on July 22. Market data now shows that short-term traders appear to be preparing to abandon the token in favor of better-performing assets.
Data from IntoTheBlock’s Exchange Order books provides a clearer picture of this bearish outlook for Shiba Inu. The data reveals a substantial sell-wall forming, with traders placing orders to sell over 5.9 trillion SHIB at an average price of $0.000017, representing a potential sell-off worth over $100 million. In contrast, prospective buyers have placed orders for only 3.4 trillion SHIB, indicating an excess supply of approximately 2.5 trillion SHIB in the market. Based on the fundamental laws of market supply and demand, an oversupply typically exerts downward pressure on the asset’s prices. Additionally, rival top 20-ranked cryptocurrencies, including XRP, BCH, and ETH, have all outperformed Shiba Inu in the past week. This performance disparity suggests short-term SHIB traders may be inclined to sell off their holdings quickly to reinvest in better-performing assets.
SHIB Price Forecast: Bulls to Defend $0.000015 Support
Shiba Inu’s (SHIB) price performance in July 2024 shows a 19% downtrend in the second half of the month. Bulls attempted a recovery in mid-July, rallying by 58.90% within 11 days, but faced strong resistance around $0.00002151. This resistance level remains a critical barrier for any upward movement.
The Donchian Channel (DC) indicates a current upper limit of $0.00002151 and a lower limit of $0.000015783, highlighting a tight trading range that SHIB is currently confined to. The price is hovering around the $0.000016 level, with immediate resistance at $0.000017967. If the bulls manage to break above this resistance, the next target would be the upper DC limit at $0.00002151.
The Relative Strength Index (RSI) is at 42.39, suggesting that the market is currently in bearish territory but not yet oversold. This implies that there is still room for a further decline before reaching oversold conditions. The RSI’s recent movement below the 50 level confirms the bearish momentum, indicating that the price may continue to face downward pressure in the near term.
Key support lies at $0.000015783, which coincides with the lower limit of the Donchian Channel. Bulls need to defend this support level to prevent further downside. A break below this support could lead to a steeper decline, potentially towards the $0.00001400 level.
Overall, while Shiba Inu faces significant bearish pressures, maintaining key support levels will be crucial to prevent a deeper decline. Investors will be closely watching the market dynamics to gauge the potential for a rebound or further losses.
$SHIB #Shibarium

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The macro outlook for Bonk (BONK) suggests a potential rebound is on the horizon, offering a promising scenario for this meme coin. Despite current declines in price and trading volume, several factors indicate a possible price surge.
Current Market Conditions and Potential Rebound
Bonk's price is currently facing downward pressure, with recent trading showing a 5.1% drop to $0.00002637 during the London session on Wednesday. However, the broader market outlook suggests a rebound as the price nears a crucial support zone. Month-to-date, Bonk remains one of the top-performing meme coins, and it could see even better performance if key support levels are maintained.
Impact of SEC Decision on Solana
A recent development that could favor Bonk is the SEC's retraction of its decision to classify Solana (SOL) and other digital assets as securities. This partial victory for Solana could positively influence Bonk’s price, setting the stage for a potential rally.
Technical Analysis: Bonk Price Poised for Breakout
Currently, Bonk is trending upwards, trading above both the 50-day (green line) and 200-day (black line) exponential moving averages (EMA), indicating bullish momentum. Supported by a rising trendline, Bonk shows signs of a strong uptrend.
A minor resistance level exists around $0.0000292. If Bonk can break above this level, it could rally 30% to the next significant resistance at $0.00004, which aligns with previous highs and a major supply zone. On the downside, if prices fall, they might find support at the 50-day EMA ($0.0000255) and the 200-day EMA ($0.0000225). Falling below these levels would invalidate the bullish ascending triangle pattern.
The Relative Strength Index (RSI) at 54.95 suggests a neutral but slightly bullish stance, indicating potential for further upward movement. The Chaikin Money Flow (CMF) at 0.06 also supports this bullish view, showing positive money flow and modest buying pressure.
On-Chain Metrics and Market Sentiment
Data from Coinalyze indicates that market participants are accumulating Bonk. Although open interest (OI) has decreased by 4% in the last 24 hours, the Long/Short (L/S) ratio has increased by 11.11% over the past week, reaching 1.879. This ratio reflects a higher percentage of investors taking long positions compared to short ones. The combination of falling OI and a rising L/S ratio suggests that market participants are holding onto their Bonk tokens, anticipating a price increase.
According to Dune Analytics, Bonk has been one of the best-performing meme tokens over the past two weeks, with an 18.7% price increase, trailing only behind BOME and COQ.
Potential Risks
Despite the positive indicators, a significant drop in Bonk's trading volume could undermine this bullish outlook. Additionally, a decline in the L/S ratio would indicate waning investor confidence, potentially leading to a sell-off that could disrupt the current market structure.
Conclusion
While Bonk faces some bearish tendencies, the overall sentiment remains bullish due to technical indicators and market patterns. If the current support levels hold and the crypto market remains favorable, Bonk could see a substantial surge, potentially rising by 30% in the near term.
$BONK #BONK

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Worldcoin has announced the expansion of its World ID verification service to Austria, making its unique "orb" system available to residents in Vienna. This significant development marks a continued effort to extend its global presence, particularly in Europe.
Expansion of World ID Verification in Austria
Starting July 31, 2024, Worldcoin’s orb verification stations will be accessible at multiple locations in Vienna. Austrian residents aged 18 and over can now join the more than 6.3 million participants worldwide in the Worldcoin network. This expansion into Austria follows the project’s success in neighboring Germany, highlighting the increasing interest in proof of humanness technology across Europe.
European Support and Community Engagement
Worldcoin’s expansion into Austria underscores its mission to establish a widespread, decentralized identity verification network. The project aims to provide a secure way to digitally verify an individual’s uniqueness and human status, which is fundamental to establishing digital identity.
Recent surveys in Spain and Portugal show strong support for this technology, with 82% and 77% of World ID holders in these countries viewing it positively for online interactions. To further its outreach, Worldcoin is also seeking ambassadors in Austria. These ambassadors will help promote the project locally and will benefit from early access to new features and networking opportunities.
Concerns Raised by Crypto Investigators
Despite the positive developments, concerns have been raised about the integrity of the project. Prominent crypto detective ZachXBT has highlighted potential insider trading and questionable practices by the Worldcoin team as their project nears a significant token unlock. His investigation, building on research by top Bybit trader DefiSquared, suggests that Worldcoin may be manipulating its token price.
DefiSquared's article provides a detailed examination of Worldcoin’s tokenomics and market strategies, raising concerns about the motivations of the project's backers. According to the research, Worldcoin is set to commence insider unlocks with just 2.7% of the supply circulating, which could have significant implications for the market.
Conclusion
Worldcoin’s expansion into Austria is a key milestone in its effort to build a global, decentralized identity verification network. While the project enjoys strong support in Europe, it must address the concerns raised by crypto investigators to maintain its credibility and trust within the community.
$WLD #Worldcoin #worldID #SamAltman

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Donald Trump has raised an impressive $25 million at the Bitcoin Conference 2024, showcasing the growing support from the crypto community and significant financial backing for his re-election campaign. The event, held in Nashville, highlighted the financial influence and enthusiasm of his supporters within the cryptocurrency sector.
A Significant Fundraising Achievement
Fox journalist Eleanor Terrett reported that Donald Trump raised $25 million at the Bitcoin Conference 2024 fundraiser in Nashville, as confirmed by Bitcoin Magazine CEO David Bailey. This substantial sum underscores the deep pockets and enthusiasm of his supporters in the crypto industry.
The conference saw the attendance of notable figures such as Tyler and Cameron Winklevoss, Kid Rock, Jake Paul, and Billy Ray Cyrus. Their presence highlights Trump's broad appeal across various industries and demographics, a crucial factor as he builds momentum for his re-election campaign.
Previous Fundraising Efforts
Prior reports indicated that Trump had already garnered significant backing from the cryptocurrency industry. Sources suggested that the ongoing Bitcoin Conference had raised between $30 million and $50 million, with a target of $100 million by November. This ambitious goal reflects the confidence in Trump’s campaign to secure substantial financial support from the crypto community.
Crypto's Influence on Politics
The substantial funds raised at the Bitcoin Conference highlight the increasing influence of the crypto industry in political campaigns. Trump’s ability to secure significant contributions from this sector demonstrates a strategic alignment with the interests of cryptocurrency enthusiasts. This support is pivotal as the crypto community seeks favorable regulations and recognition within the political sphere.
Eleanor Terrett noted that the event’s success points to the potential for even greater financial achievements in the coming months. The conference served not only as a fundraising platform but also as a networking hub for influential figures in the crypto and political arenas. This confluence of interests is likely to shape future political strategies and campaign funding approaches.
Trump’s fundraising prowess at the Bitcoin Conference underscores his appeal to a diverse and financially potent supporter base. The $25 million raised is a testament to his campaign’s effective outreach and the crypto community’s readiness to back candidates who advocate for their interests. As November approaches, all eyes will be on whether Donald Trump can hit the ambitious $100 million target.
$BTC #Trump #crypto #Bitcoin

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The Terra chain is grappling with a significant security breach that reportedly resulted in the theft of over $5 million in assets, including USDC and Astroport tokens, due to an unpatched vulnerability. On Wednesday, July 31, the Terra Luna chain temporarily halted operations following a suspected exploit. Terra's official account on X (formerly known as Twitter) announced the imminent halt at block height 11430400, leading to a cessation of all transactions as developers and validators worked to resolve the issue.
Inside The Latest Terra Hack
“Attention Terra users: Please be advised that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time,” the Terra team alerted its users. They raised concerns about a potential hack and assured that they were taking necessary steps to address the issue. The team added, “We will be working with the validators on Terra (phoenix-1) to apply an emergency patch thereafter to remediate a suspected exploit.”
An unidentified attacker exploited a vulnerability in a third-party module known as IBC hooks, which is used for cross-chain contract interactions and token transfers. This exploit allowed the attacker to siphon value from bridged assets, impacting tokens such as the USD Coin (USDC) stablecoin and Astroport tokens. Preliminary assessments suggest that around $5 million in tokens were affected.
The announcement of the Terra hack led to a notable drop in the price of Terra Luna Classic (LUNC), which fell over 4% following the news. Despite the initial decline, LUNC managed a significant recovery. As of writing, the LUNC price dipped by 2.84% to $0.00008116 on Wednesday.
Stolen Assets Report
The Terra chain's security breach was due to an unpatched vulnerability, allowing the attacker to mint tokens that had been Inter-Blockchain Communication (IBC) transferred onto Terra. This exploit emerged amid critical deadlines for Terraform Labs' bankruptcy proceedings.
The attacker utilized a smart contract, an IBC call with IBC hooks, and a timeout mechanism to gain unauthorized access to these tokens. As a result, substantial amounts of assets, including 500,000 USDT and 2.7 BTC, were compromised. The Terra team is actively investigating the incident to understand the exploit's exact nature and to patch the vulnerability.
The exploit followed a specific sequence of actions: a smart contract was instantiated on the Terra blockchain, which was then called using an IBC transfer that timed out, allowing tokens to arrive in the exploiter’s account. Despite the exploiter’s wallet never receiving more than 56 LUNA and 7,800 USDC at a time, they managed to steal millions of dollars' worth of assets.
The Terra team is working diligently to unravel the intricacies of this exploit and to implement measures to prevent future occurrences.
$LUNC $LUNA #Terra #Terraform #Hack

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The price of XRP has surged to $0.65, buoyed by positive developments in Ripple's ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Analysts are optimistic that recent changes in the SEC's lawsuit against Binance could hasten a resolution in the Ripple case, potentially driving XRP's price even higher to $0.90.
Ripple’s XRP Gains Momentum
Ripple's native cryptocurrency, XRP, is experiencing significant gains following the SEC's amendment to the Binance lawsuit, which involves the treatment of third-party securities. This amendment has led many to believe that it could expedite the settlement of the long-running SEC vs. Ripple lawsuit. The XRP price has climbed by over 9%, surpassing $0.65 and reaching a market capitalization of $36.5 billion. This surge has allowed XRP to overtake Circle’s USDC, securing the sixth spot in the market rankings. Additionally, whale activity for XRP has seen a notable increase in recent weeks.
XRP Whale Accumulation Soars
According to on-chain data provider Santiment, there has been a significant rise in the number of wallets holding at least 10,000 XRP over the past five weeks. Santiment's data reveals that there are currently 279,400 shark and whale addresses on the XRP ledger, marking a six-month high. In 2024, there has been a strong correlation between the growth of these large wallets and the altcoin’s market value. Analysts suggest that the SEC's removal of Solana (SOL), Cardano (ADA), Polygon (MATIC), and other altcoins from the 'securities' category in the Binance lawsuit could pave the way for a faster settlement in the XRP lawsuit.
Ripple CEO Criticizes SEC’s Regulatory Practices
Ripple CEO Brad Garlinghouse has criticized the SEC for its inconsistent regulatory practices and lack of clear guidelines. He argues that the federal regulator is not adhering to its stated principles when it comes to rule implementation in the cryptocurrency space. The recent amendment to the Binance lawsuit could provide Ripple with an opportunity to challenge the SEC's classification of XRP as a security.
Where is Ripple’s XRP Heading Next?
The recent surge in XRP’s price to $0.65 follows a dramatic 133% increase in daily trading volumes, reaching $2.726 billion. Moreover, XRP is currently trading comfortably above its 50-day and 200-day moving averages.
The Ripple cryptocurrency has recently broken out from a triangle pattern, and analysts believe it could test the resistance at $0.90. A breakout above this level could potentially propel XRP to its all-time high, breaking out from six years of price consolidation.
With the possibility of a settlement in the SEC lawsuit on the horizon and the increasing accumulation by large holders, XRP's future looks promising. The market will be closely watching these developments as they unfold.
$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.“