Despite recent market struggles, Dogecoin (DOGE) and Shiba Inu (SHIB) have remained stagnant, closely mirroring Bitcoin’s bearish trend with low on-chain activity.

However, analysts foresee potential upside, predicting significant gains in the long run.

Despite recent market struggles, Dogecoin (DOGE) and Shiba Inu (SHIB) remain stagnant.

Their prices are closely tied to Bitcoin, reflecting a bearish trend with low on-chain activity.

Analysts foresee potential upside, predicting significant gains in the long run. pic.twitter.com/8rQnJ8CkMP

— IBC Group Official (@ibcgroupio) July 1, 2024

Renowned analyst Ali Martinez has highlighted a positive outlook for Dogecoin, with the TD Sequential presenting a buy signal on the 3-day chart. This indicator suggests a rebound of one to four candlesticks for DOGE, hinting at an imminent upward movement.

The TD Sequential presents a buy signal on the #Dogecoin 3-day chart, predicting a rebound of one to four candlesticks for $DOGE! pic.twitter.com/elT1hc21vq

— Ali (@ali_charts) June 30, 2024

Currently trading around $0.1294, Dogecoin’s next target is set at $0.6533. Analysts believe that a breakout is on the horizon, potentially leading to a significant price surge. Should this breakout hold, DOGE could experience an impressive +404% run to reach the target.

$DOGE (Dogecoin) and its next leg up towards the current breakout target @ $0.6533 may be a matter of time and prices could be preparing here for a break above!

As of current, with a price breakout holding, a roughly +404% run to reach this target can be loading… https://t.co/Uy2g7WC1PV pic.twitter.com/m4PiVm3SVx

— JAVON⚡️MARKS (@JavonTM1) June 30, 2024

Dogecoin And Shiba Inu Struggles To Gain Momentum Lately 

While both Dogecoin and Shiba Inu have struggled to gain momentum recently, their prices remain closely tied to Bitcoin’s performance. Despite this, the underlying sentiment among analysts suggests that these popular meme coins may be gearing up for substantial gains.

Dogecoin’s price action has been relatively stable, but the emergence of the TD Sequential buy signal indicates a possible bullish reversal. If DOGE breaks above its current resistance levels, it could trigger a wave of buying activity, propelling the coin towards its breakout target.

As the market continues to evolve, investors are keeping a close eye on these meme coins, anticipating potential opportunities for profit. With analysts predicting significant gains in the long term, both Dogecoin and Shiba Inu may soon emerge from their current stagnation and embark on a new bullish trajectory.

In conclusion, while Dogecoin and Shiba Inu have been relatively stagnant amidst recent market struggles, analysts remain optimistic about their future prospects. The potential for significant gains and a possible breakout for DOGE highlights the enduring appeal and resilience of these popular meme coins.

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

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

Image Source: Kanchanara on Unsplash  // Image Effects by Colorcinch

The post Dogecoin and Shiba Inu Show Potential Despite Market Stagnation appeared first on The Merkle News.

$CRV has emerged as a focal point for smart traders, currently positioned strategically within the market’s entry zone.

It has garnered significant attention, securing a top-three spot in the “Accumulated by Smart Money” list over the past 24 hours, earning it the coveted “Gem of SDT” label.

Several notable wallet addresses have contributed to this surge in interest. For instance, wallet 0x412b, known for its impressive 61.54% win rate, recently executed a swap of 549.9K $USDT for approximately 1.94M $CRV, valued around $550K. Similarly, wallet 0x006f made strategic moves, swapping 25 $ETH for 301.97K $CRV (worth $83.3K) and exchanging 79.36K $LDO for 547.55K $CRV (worth $151K), showcasing a win rate of 55.56%.

$CRV Is Currently Trading Near The Entry Zone of Smart Traders 🤔

Watch more about $CRV here: https://t.co/SmHBpSsayl$CRV is ranking top 3 in the "Accumulated by Smart Money" list in the past 24 hours with the "Gem of SDT" label attached 😘

Some notable wallet addresses:

-… pic.twitter.com/NiI04keKjO

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 1, 2024

Moreover, Christian2022.eth’s wallet 0xc75b1 made headlines by purchasing 3.75M $CRV over-the-counter from Michael Egorov, founder of CurveDAO, at a price closely aligned with the current market value. This transaction underscores ongoing confidence in $CRV despite recent market fluctuations observed since June 21st.

$CRV Projected To Records A 15% Reduction In Emissions In August 

In recent developments, total veCRV surpassed 800 million units on June 29th, driven by a substantial 40 million $CRV locked in the latter half of June. Looking ahead, $CRV is set to experience a 15% reduction in emissions come August, aligning with an annual inflation drop to 6.34%, equating to 376,000 $CRV issued daily across a $2 billion total value locked (TVL).

Total veCRV surpassed 800m on June 29th due to the 40m $CRV locked in the second half of June! 🥳

In August CRV emissions get cut by 15% as annual CRV inflation drops to just 6.34% (376k CRV/day across $2b TVL)

👁️🔒👁️$CVX $crvUSD #DeFi pic.twitter.com/gI67jwYMhV

— DefiMoon 🦇🔊 (@DefiMoon) July 1, 2024

Additionally, the $CRV Liquid Locker reported a successful Sunday with the minting of 800,000 $sdCRV, further enhancing liquidity and market participation in $CRV.

☀️ The $CRV Liquid Locker had a great Sunday, with 800,000 $sdCRV minted today!

How was your day? pic.twitter.com/kgrgWyNzq3

— Stake DAO (@StakeDAOHQ) June 30, 2024

This heightened activity and strategic positioning suggest $CRV remains a pivotal asset in the current market landscape, attracting both institutional and retail interest alike.

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

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

Image Source: kwy09/123RF // Image Effects by Colorcinch

The post $CRV Attracts Smart Money As Trading Activity Surges appeared first on The Merkle News.

$TRUMP, also known as MAGA Memecoin, has entered a downtrend channel as its price saw a decline following the recent debate day.

Traders are describing this situation as the accumulation phase, where investors are strategically gathering assets at lower prices.

$TRUMP @MAGAMemecoin is in the downtrend channel, but it'll get of this soon.July could be a good and green month for #altcoins #memecoins https://t.co/hh8NrzSIkO pic.twitter.com/7ydaQFr9N4

— Johnny Woo | Never DM you for Money (@j0hnnyw00) July 1, 2024

On-chain reports have revealed significant activity by a prominent whale, identified as 0x523. This whale swapped 100,099 TRUMP tokens, valued at approximately $642,000, for 184 ETH at an average price of $6.41. As of now, the whale holds 75,248 TRUMP tokens, worth around $489,000, with an impressive total profit of $3.36 million, marking a 1,343% increase.

This whale dumped another 100K $TRUMP ($642K) for 184 $ETH in the past 2 hours, contributing to the 7.6% price drop.

Note that the whale still has 75,248 $TRUMP ($489K) left with an estimated total profit of $3.36M (+1,343%) from this token.

Follow @spotonchain and monitor the… https://t.co/ZyO0CysbZi pic.twitter.com/1l6P7zg10g

— Spot On Chain (@spotonchain) July 1, 2024

Here’s a detailed breakdown of the whale’s transactions:

– On January 19, 2024, the whale purchased 495,000 TRUMP tokens for $250,000 USDT at a rate of $0.505 per token. – Since March 10, 2024, the whale has sold 419,752 TRUMP tokens for $3.12 million in ETH and USDC, averaging $7.436 per token.

TRUMP Price Reacts As It Falls About 7.55% Following This Whales’ Action 

The recent sales by this whale have led to a 7.59% drop in TRUMP’s price within the last two hours.

Additionally, over the weekend, $765,697 worth of TRUMP tokens were burned, reducing the total supply and increasing the burn address holdings to 1.70%. This burning of tokens aims to create scarcity and potentially boost the token’s value in the long term.

An additional $765,697 worth of $TRUMP has been burned and removed from the total supply. That moves our burn address holdings up to 1.70%. pic.twitter.com/Q5a70Pi6GQ

— MAGA Memecoin (@MAGAMemecoin) June 29, 2024

Despite the current downtrend, these developments indicate significant market activity and strategic movements within the TRUMP token ecosystem.

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

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

Image Source: gorodenkoff/123RF // Image Effects by Colorcinch

The post $TRUMP Token Faces Downtrend Amidst Whale Activity and Debate Day Impact appeared first on The Merkle News.

Bitcoin has reclaimed a crucial support level, indicating strong demand in the current price range. Of the addresses active in the past 24 hours, 237,000 have acquired Bitcoin between $61,000 and $62,600, highlighting the significant buying interest at these levels.

Bitcoin is back above a crucial support level👇

Of the addresses active in the past day, 237k have acquired their Bitcoin between $61k and $62.6k, showing significant demand in the current price range.

Will this be enough to keep Bitcoin above $60k? pic.twitter.com/8wo7T71eNB

— IntoTheBlock (@intotheblock) July 1, 2024

A major milestone has been achieved in the Bitcoin market, with the number of wholecoiners (investors holding at least 1 BTC) surpassing 1 million. This surge in wholecoiners coincides with a notable increase in institutional demand for Bitcoin, driven by its appeal as a store of value and its limited supply. With a fixed supply of only 21 million Bitcoins, the growing interest from both institutional and individual investors is likely contributing to a reduction in available supply, further driving up demand.

Analyst Ali Martinez notes that the TD Sequential indicator on the Bitcoin 1-hour chart is presenting a buy signal, predicting a rebound of one to four hourly candlesticks for BTC. This technical indicator suggests a potential short-term increase in Bitcoin’s price.

The TD Sequential presents a buy signal on the #Bitocin 1-hour chart, predicting a rebound of one to four hourly candlesticks for $BTC! pic.twitter.com/grDXApzrHg

— Ali (@ali_charts) July 1, 2024

German Government Moves Bitcoin and Ethereum 

In other developments, the German and US governments have recently moved significant amounts of Bitcoin and Ethereum to centralized exchanges (CEX) and new wallets. The German government transferred 1,500 BTC ($94.7 million), with 400 BTC ($25.3 million) going to Bitstamp, Kraken, and Coinbase. They currently hold 44,692 BTC, valued at approximately $2.81 billion.

Meanwhile, the US government moved 3,375 ETH ($11.75 million) to a new wallet, identified as “0x5ac.” Their current holdings amount to 49,320 ETH, worth about $172 million.

In the past hour, the German and US governments moved $106M worth of $BTC and $ETH to CEX and new wallets, including:

1. The German Government moved out 1,500 $BTC ($94.7M), of which 400 $BTC ($25.3M) went to #Bitstamp, #Kraken & #Coinbase.• Currently, they hold 44,692 $BTC… pic.twitter.com/XwVJwTVsU5

— Spot On Chain (@spotonchain) July 1, 2024

These movements by government entities and the increasing demand from institutional and individual investors underscore the robust interest in Bitcoin and its potential for continued growth.

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

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

Image Source: dimarik16/123RF // Image Effects by Colorcinch

The post Bitcoin Surges Above Key Support Level Amid Rising Demand appeared first on The Merkle News.

In the past week, whale investors have bought over 45 million Toncoin (TON), amounting to roughly $346.5 million in value.

This surge in purchases has propelled Toncoin’s market capitalization beyond $18.8 billion, enabling it to surpass Dogecoin (DOGE) and secure its place as the 8th largest cryptocurrency globally.

🚨 BREAKING: In the previous week, whales purchased over 45 million #Toncoin [ $TON ], amounting to approximately $346.5 million in value.

With a market capitalization exceeding $18.8 billion, #TON has outpaced #Dogecoin's # #DOGE [ $DOGE ].

Consequently, Toncoin has elevated… pic.twitter.com/2nBhtbT0J4

— CoinEcho (@mycoinecho) July 1, 2024

One significant factor contributing to Toncoin’s rapid ascent is the introduction of mini apps, which have sparked considerable interest in the Ton Blockchain. These applications have attracted developers and users alike, enhancing the ecosystem’s overall appeal.

Adoption Of Tether On The Ton Blockchain Plays Crucial Role 

Moreover, the adoption of USDT (Tether) on the Ton Blockchain has played a crucial role in this growth. The partnership between Tether and TON has significantly boosted the adoption of stablecoins on Telegram, a key platform for TON users. The supply of USDT on the TON blockchain has now surpassed 500 million, underscoring the increasing demand for stablecoin solutions within this ecosystem.

🌎DOEX WEEKLY REPORTS: 2024/06/24 – 2024/6/30

✅#CRYPTO NEWS HIGHLIGHTS❇️Tether and TON Partnership Fuels Stablecoin Adoption on Telegram❇️Mt. Gox to distribute $9 billion of bitcoin, bitcoin cash repayments from beginning of July❇️#USDT stablecoin supply on TON blockchain… pic.twitter.com/mEJbrM0UUj

— DOEX (@DoexGlobal) July 1, 2024

Together, these developments have created a robust foundation for Toncoin’s growth, enabling it to climb the ranks and establish itself as a leading cryptocurrency.

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

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

Image Source: stlegat/123RF / Image Effects by Colorcinch

The post Toncoin Surpasses Dogecoin To Become The 8th Largest Cryptocurrency appeared first on The Merkle News.

Address poisoning attacks are becoming an increasing threat in the cryptocurrency world. These attacks exploit the way users manage their transaction histories and address information.

Hackers monitor the transfer information of various stablecoins on the blockchain, then create a malicious address that closely mimics the user’s address by having the same first and last digits.

The hacker sends an empty transaction to the victim, making the fake address appear in the victim’s transaction history.

⚠️🚨 Address Poisoning Attack is a Rising Threat in the Crypto World 🚨

Address Poisoning Attack has been here for quite some time but has been wreaking havoc in recent weeks, with over 340K addresses affected and more than $1.64M stolen. 😱💸

(1/5) pic.twitter.com/xQDsv083iN

— BrotherHood (@BHVenture) July 21, 2023

When the victim later copies an address from their history for a transfer, they may accidentally copy the hacker’s address instead of their intended recipient’s. This simple yet dangerous trick can lead to substantial financial losses.

Wallet Loses Over 70,000 USDT To Scam

Recently, Cyver Alerts, an AI-powered security system, detected an address poisoning attack. Two days ago, the attacker initiated the poison transaction.

Unfortunately, 23 hours ago, the victim mistakenly sent 70,000 USDT to the scammer’s address. The funds are currently held in the scammer’s account, highlighting the effectiveness and danger of this deceptive tactic.

🚨ALERT🚨Our AI-powered system has detected an address poisoning attack. https://t.co/P9B1inEQ9N

The attacker initiated the poison transaction two days ago: https://t.co/VEQrT4VXYL

Unfortunately, 23 hours ago, the victim mistakenly sent 70k USDT to the scammer.The funds are… pic.twitter.com/Klq9KUSlTo

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) June 28, 2024

As the crypto space evolves, so do the methods employed by cybercriminals. It’s crucial for users to double-check addresses and remain vigilant to protect their assets from such sophisticated attacks.

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

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

Image Source: Max Bender/Unsplash // Image Effects by Colorcinch

The post Rising Threat: Address Poisoning Attack In The Crypto World appeared first on The Merkle News.

In the past 24 hours, a multi-sig wallet (0x22c), potentially associated with Starknet, transferred 2.5 million STRK tokens (approximately $1.74 million) to Binance, FlowTraders, and a new wallet (0x750).

This follows a recent transaction in which the wallet received 5 million STRK tokens from Starknet’s team. Shortly after, 750,000 STRK were transferred to Wintermute.

Within last 4 hours, a Multi-sig wallet 0x22c (may belongs to @Starknet) transferred 2.5M $STRK (~$1.74M) to #Binance, @FlowTraders and a fresh wallet 0x750.

Yesterday, this wallet received 5M $STRK from Starknet's team and transferred 750k $STRK to #Wintermute right after that. pic.twitter.com/L9iKKvGnOv

— The Data Nerd (@OnchainDataNerd) June 28, 2024

Currently, the multi-sig wallet still holds 3.75 million STRK, valued at roughly $2.59 million. Additionally, another wallet (0x0A6) holds a substantial 22.71 million STRK, worth about $15.75 million.

This wallet still hodls 3.75M $STRK (~$2.59M) while the wallet 0x0A6 holds 22.71M $STRK (~$15.75M).

Addresses:https://t.co/NIURVDAUHVhttps://t.co/PMMUQZWcLdhttps://t.co/wMdJmX0Ea1

— The Data Nerd (@OnchainDataNerd) June 28, 2024

More Indicators To Monitor For STRK Token

Interestingly, the fully diluted valuation (FDV) of STRK is currently twice as high as its current market cap. This discrepancy suggests a high likelihood that the values will converge, at least partially, in the near future.

Long $ZK / short $STRK

I think the r/r is good for this pair

STRK FDV is currently 2x higher, and the likelihood that they end up converging (at least partially) at some point is high. pic.twitter.com/YvriF2tsuw

— VIKTOR (@thedefivillain) June 28, 2024

These significant movements of STRK tokens highlight the ongoing activity and strategic transactions within the Starknet ecosystem, indicating a potential impact on STRK’s market dynamics and valuation.

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

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

Image Source: hryshchyshen/123RF // Image Effects by Colorcinch

The post Significant STRK Transfers: Multi-Sig Wallet Activity Linked To Starknet appeared first on The Merkle News.

According to the MVRV Z-Score, which gauges asset valuations based on average trader returns, certain top cryptocurrencies are categorized as overbought or underbought.

The analysis identifies Toncoin, Bitcoin, and Ethereum as overbought, while Uniswap and Shiba Inu are considered underbought.

📊 According to MVRV Z-Score, which identifies overvalued and undervalued assets based on average trader returns, top caps are in the following categories:

🤑Overbought: Toncoin, Bitcoin, Ethereum😟Underbought: Uniswap, Shiba Inu pic.twitter.com/PWESMh7wRf

— Santiment (@santimentfeed) June 29, 2024

In a recent tweet, an organization shared a list of the most valuable market assets, detailing the weekly, monthly, annual, and year-to-date returns for the top 10 Bitcoin assets.

#SHIB Grayscale Classifies Shiba Inu Among Valuable Cryptocurrencies 👇

POV : Imagine selling your Shiba INU for tokens that have no liquidity while grayscale said it is valuable. Keep learning #SHIBARMY .https://t.co/se66JJHnJ2

— Lola (@CryptoLollla) June 29, 2024

The data showed that weekly returns were negative for about six assets, including XRP, Bitcoin, and Shiba Inu. Conversely, Solana, Toncoin, and Tron demonstrated notable gains, emerging as the top performers.

📸 Grayscale Crypto Snapshot – Assets

–#bitcoin #ethereum $BNB $SOL $XRP $TON $DOGE $ADA $TRX $SHIB pic.twitter.com/be7S4a5o5i

— Grayscale (@Grayscale) June 27, 2024

Other Market Events With Coinbase Derivatives And The CFTC

In other news, Coinbase Derivatives has filed certifications with the Commodity Futures Trading Commission (CFTC) to list US-regulated futures for Shiba Inu (SHIB), Chainlink (LINK), Avalanche (AVAX), Stellar (XLM), and Polkadot (DOT).

This move by Coinbase Derivatives signifies bullish behavior and indicates a growing interest in providing more diverse and regulated investment options in the crypto market.

BREAKING: Coinbase Derivatives Files with CFTC to List Regulated Futures for $SHIB, $LINK, $AVAX, $XLM, and $DOT

Coinbase Derivatives has officially filed certifications with the CFTC to offer US-regulated futures for SHIB, LINK, AVAX, XLM, and DOT.

Bullish behavior.

— Kyle Chassé (@kyle_chasse) June 28, 2024

These developments highlight the dynamic nature of the cryptocurrency market, with significant shifts in asset valuations and new opportunities for traders and investors.

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

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

Image Source: kaedeezign/123RF // Image Effects by Colorcinch

The post Market Analysis Reveals Overbought and Underbought Assets; Coinbase Derivatives Files For Regulated Futures appeared first on The Merkle News.

$TRUTH has climbed to the top of the Hot Pairs list, boasting an inflow of $11.2 million. This surge in interest has attracted significant attention from influential investors.

Meme Hunter 0x1df6 recently added $TRUTH to his investment portfolio. Just hours ago, this wallet purchased 211,000 $TRUTH tokens for $6,176 at a price of $0.03055 per token.

Additionally, the Smart Whales of $MAGA have started buying $TRUTH. One notable wallet, 0x4f36, with a 50% win rate, bought 1.07 million $TRUTH at an average price of $0.06465 over the past 24 hours.

In the last nine hours, this wallet sold a small portion of 355,000 $TRUTH, valued at $10,100, but still holds 711,850 $TRUTH, worth approximately $25,410.

$TRUTH is ranked #1 in the Hot Pairs list with an inflow of $11.2M

Meme Hunter 0x1df6 (https://t.co/zKexe3Ag3R)included $TRUTH in his investment portfolio 4 hours ago, and this wallet has bought 211K $TRUTH ($6,176) at a price of $0.03055.(Image 1)

📌 Also, Smart Whales of… pic.twitter.com/A2SJhxhKY6

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) June 28, 2024

Another wallet, 0xf71d, also known as mindyour.eth, with a 40.91% win rate, has entered the $TRUTH market. This wallet bought 379,220 $TRUTH tokens for $28,623 at an average price of $0.07548 in the last 24 hours.

The rising interest from both high-profile and smart investors underscores $TRUTH’s growing appeal in the crypto market. As these investors continue to accumulate $TRUTH, the token’s prominence and market activity are expected to increase further.

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

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

Image Source: maximusnd/123RF // Image Effects by Colorcinch

The post $TRUTH Rises To Top Spot With $11.2M Inflow As Prominent Investors Jump In appeared first on The Merkle News.

In recent activity, the whale identified as 0x837 has made significant moves in the cryptocurrency market. Two days ago, he deposited his last 300 billion $PEPE tokens, valued at approximately $3.85 million, into Binance.

This whale has since converted all his $PEPE holdings into $ETH.

Just three hours ago, he withdrew 1,728 $ETH, worth about $5.86 million, from Binance. Over the past two days, he has accumulated a total of 4,374 $ETH, valued at roughly $14.91 million. These $ETH tokens have been staked into Compound, indicating a strategic move to generate yield.

The whale 0x837 already switch all $PEPE into $ETH.

3 hours ago, he withdrew 1,728 $ETH (~$5.86M) from #Binance 👉 he totally accumulated 4,374 $ETH (~$14.91M) during last 2 days.

Those $ETH were staked into #Compound.https://t.co/vUBwSf5G90 pic.twitter.com/nU5YRUHXXM

— The Data Nerd (@OnchainDataNerd) June 29, 2024

About 80% Of Ethereum Holders Shows Strong Bullish Confidence 

According to Intotheblock’s data, 78% of $ETH is held by long-term holders, showcasing the confidence and stability within the Ethereum community.

78% of ETH is owned by long-term hodlers pic.twitter.com/9vb5kaUIar

— IntoTheBlock (@intotheblock) June 28, 2024

Adding to the bullish sentiment for Ethereum, The Block reports that the U.S. SEC has returned the S-1 form to potential Ethereum spot ETF issuers with only a few comments. These issuers have been asked to process the comments and resubmit by July 8. This indicates that at least one more round of filings will be required before the ETF can start trading.

According to The Block, citing people familiar with the matter, the U.S. SEC has returned the S-1 form to potential Ethereum spot ETF issuers with only a few comments. The issuer has been asked to process these comments and resubmit by July 8. This means that at least one more…

— Wu Blockchain (@WuBlockchain) June 29, 2024

These developments highlight a positive outlook for Ethereum, with significant investor activity and promising regulatory progress for an Ethereum spot ETF. As the market continues to evolve, Ethereum remains a focal point for both long-term holders and institutional investors.

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

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

The post Whale Converts $PEPE To $ETH Amid Positive SEC Developments For Ethereum Spot ETF appeared first on The Merkle News.

According to Polymarket, Donald Trump’s chances of winning this election have climbed to 66%. Additionally, there’s a 43% probability that the former president will mention cryptocurrency in today’s debate.

📌 Maybe you shouldn't miss: D. Trump and J. Biden are currently debating 👨‍💻 $MAGA $TRUMP

According to @Polymarket, Donald Trump's winning probability in this election round is up to 66%. The probability of this former president mentioning Crypto in today's debate is up to 43%.… pic.twitter.com/gPRD9Ko0Dt

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) June 28, 2024

Amid these developments, Smart Money has propelled $MAGA back to the top of the 24-hour accumulation list. The buy and sell data, available in real-time, show significant activity:

24h Inflows:

– Wallet 0x6ce0…f011 employed a Positive DCA strategy on Ethereum, purchasing $34.44K worth of MAGA at $0.0003051 per token. – Realized PnL: $134.68K – Realized ROI: 25.55% – Unrealized PnL: $122.23K

– Wallet 0x1d28…f241 followed a Positive DCA strategy on Ethereum, buying $45.10K worth of MAGA at $0.0003092 per token. – Realized PnL: $30.10K – Realized ROI: 3.43% – Unrealized PnL: $16.76K

– Wallet 0xbd18…0da6 executed a Positive DCA strategy on Ethereum, purchasing $23.72K worth of MAGA at $0.0002999 per token. – Realized PnL: $19.13K – Realized ROI: 14.02% – Unrealized PnL: $7.13K

– Wallet 0xbb15…b37e adopted a Positive DCA strategy on Ethereum, acquiring $65.00K worth of MAGA at $0.0003549 per token. – Realized PnL: $78.71K – Realized ROI: 15.97% – Unrealized PnL: $30.91K

– Wallet 0x7c3e…c899 utilized a Positive DCA strategy on Ethereum, buying $40.10K worth of MAGA at $0.0003888 per token. – Realized PnL: $51.42K – Realized ROI: 61.66% – Unrealized PnL: $119.37K

If the debate prompts both candidates to discuss cryptocurrency positively, it could rejuvenate the Political Memes ecosystem.

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

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

Image Source: luzazure/123RF // Image Effects by Colorcinch

The post Trump’s Winning Odds Soar To 66%, Crypto Mentions Could Impact Debate appeared first on The Merkle News.

TheRoaringKitty, a prominent figure in the meme token world, has once again demonstrated his significant influence. Fourteen hours ago, he posted a picture of a dog without any accompanying text or sticker.

Despite the lack of explicit endorsement, this simple post triggered a remarkable chain of events.

A new meme token named $CHWY was created shortly after the post, and within just 20 minutes, its value skyrocketed by 1350%, equivalent to a 13-fold increase, with a trading volume of approximately $2 million.

The rapid rise of $CHWY propelled it to the top of the Hot Pair rankings, attracting participation from 10 Smart Money investors and 62 Smart DEX Traders.

$CHWY Pump Was Short-lived With Over 80% Price Drop 

One notable transaction involved Smart Wallet 0x4bfd7, which achieved a return of ~$7,000, translating to a 135.49% ROI, within 1 hour and 28 minutes. However, the meteoric rise of $CHWY was short-lived. Since reaching its all-time high, the price has plummeted by 80%.

$CHWY – KOL @TheRoaringKitty has a very big influence on meme tokens 😳

14 hrs ago, #TheRoaringKitty simply posted a picture of a dog, without mentioning any sticker or name.

At the same time, a pool of this related #Meme name $CHWY was created. Within 20 minutes, it grew 1350%… pic.twitter.com/UWxkYwDhTA

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) June 28, 2024

The incident highlights the volatile nature of meme tokens and the significant impact that influential figures like TheRoaringKitty can have on the market.

While the initial surge in $CHWY’s value created opportunities for quick gains, it also serves as a reminder of the potential risks and rapid fluctuations inherent in this segment of the cryptocurrency market.

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

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

Image Source: surachaipung/123RF // Image Effects by Colorcinch

The post TheRoaringKitty’s Influence Spurs $CHWY Meme Token To Surge 1350% In Minutes appeared first on The Merkle News.

TON’s tap-to-earn mini apps are making waves in the crypto world, dramatically increasing engagement and usage within the ecosystem. These innovative apps have propelled daily transactions on the TON network to five times that of Ethereum, underscoring their growing popularity.

BREAKING: Daily transactions on TON has flipped daily transactions on ETH for 5x. 🤯

Reply $TON + RT if you pay attention 🫵💎 pic.twitter.com/kVEx0YXOXv

— Viktor 🐯🧡 (@s0meone_u_know) June 28, 2024

The mini apps market on TON is expanding rapidly, continually enhancing the ecosystem with more options and entertainment for users. This growth is attracting more participants and increasing the network’s overall activity.

Analyst Ali Martinez recently highlighted on X that Toncoin is on the brink of a 12% rise, potentially reaching $9 after breaking out of an ascending triangle pattern. This bullish forecast has further fueled interest in TON’s offerings.

#Toncoin is poised for a 12% rise towards $9 after breaking out of an ascending triangle!

I'm heading to @coinexcom to take advantage of their 50% discount on $TON purchases. Learn more here 👇https://t.co/la2PwiuGHC pic.twitter.com/7UXB1WZ5PY

— Ali (@ali_charts) June 27, 2024

Ton Blockchain Records Remarkable Milestone Of $500 Million In USDT Net Circulation 

Moreover, the TON blockchain has seen its USDT net circulation surpass $500 million, indicating strong adoption and trust in the network’s stability and utility.

USDT Net Circulation exceeded $500M on TON Blockchain: a perfect moment to remind that you don't even need TON to send your USDT to a friend if you're using Tonkeeper, thanks to its unique Gasless feature ⛽ https://t.co/gDqTGId9NO

— Tonkeeper (@tonkeeper) June 27, 2024

The combination of innovative mini apps, robust transaction volume, and positive market predictions positions TON as a major player in the cryptocurrency space, promising more developments and opportunities for users and investors alike.

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

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

Image Source: stlegat/123RF / Image Effects by Colorcinch

The post TON’s Tap-to-Earn Mini Apps Revolutionize Crypto Space With 5x More Daily Transactions Than Ethereum appeared first on The Merkle News.

$BLUR is poised to unlock 11.13% of its supply for advisors and investors, with nearly 200 million tokens claimed immediately. This event, occurring six months after the token generation event (TGE), has already led to notable market movements.

2/ Advisors & investors unlock$BLUR is set to unlock for advisors and investors around 11.13% of the unlocked supply 6 months after TGE, with almost 200 million $BLUR claimed immediately.

Within 2 months after unlocking, the price steadily decreased from 0.30X to 0.20X (~33%). pic.twitter.com/bQbdX3NBcF

— Token Unlocks (@Token_Unlocks) June 27, 2024

In the two months following the unlocking, $BLUR’s price steadily declined from 0.30X to 0.20X, marking a significant 33% drop. One major player, a whale, capitulated and deposited 17.71 million $BLUR (worth $3.71 million) to Binance, incurring a staggering $5.79 million loss.

This whale had accumulated $BLUR between December 2023 and March 2024 at an average price of $0.54, only to offload it today at $0.21, representing a 61% loss.

Top Institutions Move A Total Of 44.73 Million $BLUR Tokens, Worth $9.63 Million

The situation for $BLUR worsened following the #Blast airdrop, which triggered a further price decline. In the past two days, five whales, institutions, and smart traders moved a total of 44.73 million $BLUR (approximately $9.63 million) to centralized exchanges (CEX), realizing a combined loss of $13.4 million.

3 hours ago, a whale capitulated and deposited 17.71M $BLUR ($3.71M) to #Binance at a $5.79M loss!

The whale accumulated $BLUR from Dec 2023 to Mar 2024 at ~$0.54 and unloaded at only $0.21 (-61%) just now.

Overall, following the #Blast airdrop that caused $BLUR to plummet, we… pic.twitter.com/mXiF5YOOpb

— Spot On Chain (@spotonchain) June 28, 2024

These events underscore the volatility and risk inherent in the cryptocurrency market. The large-scale sell-offs by significant holders highlight the challenges $BLUR faces in maintaining its value amidst substantial token unlocks and market fluctuations.

As the market responds to these developments, the future trajectory of $BLUR remains uncertain, emphasizing the importance of careful analysis and strategic planning for investors.

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

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

The post $BLUR Set For Major Unlock, Faces Significant Sell-Off And Price Decline appeared first on The Merkle News.

In a recent transaction, a wallet linked to the Fantom Foundation, identified as 0xa51, sold 357,108 CVX tokens for 1.15 million USDT at an average price of $3.22.

This significant move in the market has brought to light the foundation’s substantial financial loss over the past two years.

Back in March 2022, the wallet invested $12 million to acquire 436,000 CVX tokens at an average price of $28 each. However, over the ensuing two years, these tokens were sold at an average price of only $3.38, yielding a total of $1.49 million.

This translates to a staggering loss of $10.7 million, or 87.8%.

A wallet linked to Fantom Foundation sold 357,108 $CVX for 1.15M $USDT in the past hour, causing the price to drop ~5%.

Notably, this wallet spent $12M to buy 436K $CVX at ~$28 in Mar 2022 and then sold the tokens over the past 2 years at only ~$3.38 ($1.49M).

That is a loss of… pic.twitter.com/DjX6Moavny

— Spot On Chain (@spotonchain) June 28, 2024

Whale Currently Holds 74,634 CVX While Price Reacts 

Currently, the wallet holds 74,634 CVX, valued at approximately $240,000. The recent large-scale sale exerted downward pressure on the CVX market, causing the token’s price to drop by roughly 5%, from $3.40 to $3.22.

This episode underscores the volatility and risk inherent in the cryptocurrency market. The Fantom Foundation’s experience with CVX highlights the challenges of managing large crypto investments and the potential for significant financial loss.

For investors and market participants, this serves as a stark reminder of the importance of strategic planning and risk management in navigating the crypto landscape.

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

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

Image Source: calima3d/123RF // Image Effects by Colorcinch

The post Fantom Foundation Wallet Records Significant Loss On CVX Sale, Impacting Token Price appeared first on The Merkle News.

It is rumored that The Three-Body Universe, the intellectual property (IP) owner of Cixin Liu’s renowned novel titled: The Three-Body Problem , which is the the content base behind Netflix’s highly anticipated series adaptation, will be embarking on a groundbreaking venture into artificial intelligence (A.I). We are told that the Three-Body Universe is negotiating to provide all its franchise IP and private datasets to OpenAI for free and this is fantastic to see. Of course, this potential collaboration is set to transform ChatGPT-4o into a unique platform for Three-Body fans worldwide and techies as well.

A Revolutionary Collaboration, Involving Storytelling And Technology

Further into this partnership between the Three-Body Universe and OpenAI, the plan is to integrate the rich and complex world of “The Three-Body Problem” into ChatGPT-4o. Of course, OpenAI’s ChatGPT-4o, known for its advanced natural language processing and ability to engage users in meaningful conversations, will definitely evolve with access to the entire repository of Three-Body IP and datasets. Consequently, this evolution will make it possible for ChatGPT-4o to offer an immersive experience. Thereby, making fans feel as though they are living within the narrative.

So, the potential collaboration looks to allow ChatGPT-4o to do more than just respond with text. Yes! It will immerse users in the Three-Body Universe. This means, enabling them to engage with the storylines, characters, and intricate scientific concepts of Cixin Liu’s masterpiece. Of course, this will be in ways previously unimaginable. Furthermore, this enhanced interaction could also revolutionize how fans experience the Three-Body world.

In addition, this potential collaboration sets a significant precedent in the space of intellectual property and artificial intelligence (AI). It directly exposes the vast potential of AI not only as a tool for interaction but also as a medium for expanding and enhancing storytelling. Subsequently, it will grow into opening the door for other franchises to consider similar partnerships, leveraging artificial intelligence to bring their worlds to life in many other great ways.

What You Need To Know About Interactive Storytelling

It’s safe to note that with comprehensive Three-Body datasets at its disposal, ChatGPT-4o will look to be able to offer interactive storytelling. Then, users can ask questions and receive very much detailed and contextually accurate responses that align with the Three-Body lore.

Also, they could explore the Trisolaris, get deeper into the mysteries of the three-body problem, or interact with key characters. Thereby, immensely experiencing the narrative dynamically and personally.

Educational and Exploratory Potential Of The Three-Body Universe

Additionally, now beyond entertainment, this partnership also holds a significant educational potential. The scientific concepts and philosophical inquiries embedded in “The Three-Body Problem” can then be explored in depth. ChatGPT-4o could provide explanations, simulations, and discussions that will then enhance users’ understanding and appreciation of the novel’s themes, making it a valuable educational tool.

So, the Three-Body Universe and OpenAI can attract a broader audience to the franchise by offering such notable immersive and interactive experiences for users. By this, newcomers will then have an easier experience getting exposure into the story. Not forgetting, the long-time fans can also deepen their engagement, discovering new facets of the narrative they might have missed.

The Future of the Three-Body Universe And Fans Benefits

Lastly, there’s currently much anticipation among the Three-Body fans and the broader AI community, particularly as discussions progress with the venture moving closer to realization. This is a historical achievement as the integration of Three-Body IP with ChatGPT-4o represents a remarkable step forward in the convergence of technology and storytelling. The potential collaboration promises a future where narratives are not just read or watched but will be lived and experienced in profound new and better ways.

To conclude, this exciting era of innovation highlights the limitless possibilities that come up when creativity meets technology. The Three-Body Universe’s venture into artificial intelligence is a testament to these possibilities, as they’ll offer an immersive journey that brings Cixin Liu’s visionary world to life like never before. So, Fans and enthusiasts can definitely expect an experience that is as enlightening as it is exhilarating, setting a new standard for the future of storytelling and AI as well.

The post The Three-Body Universe’s Bold Leap into Artificial Intelligence appeared first on The Merkle News.

The Real World Asset (RWA) token $ONDO, known as the decentralized investment bank for DeFi, is currently facing bearish market trends, approaching the crucial $1 support level.

Despite these challenges, market analysts foresee a potential reversal, with $ONDO poised to rise alongside Bitcoin ($BTC) in the next bull market cycle.

$ONDO is not in a favorable position in the market right now, approaching the next 1$ support as bearish trends continue. Foresee a reversal, with Ondo poised to rule alongside $BTC in the next cycle's bull rally.Previously we've observed a 270% profit on it. pic.twitter.com/IfVo3pnIEA

— Decilizer (@decilizer) June 27, 2024

Recent on-chain reports from OnchainDataNerd reveal significant activity involving $ONDO.

Approximately 16 million $ONDO tokens, valued at around $19.37 million, were transferred from Coinbase’s custody wallet to several venture capital entities, including Teneo, Arrington, and others, across platforms such as Bybit, Kucoin, and Gate. This substantial transfer occurred just a few hours ago.

Similar Event Two Weeks Ago Resulted In A 20% Price Drop In $ONDO

Notably, a similar event took place three weeks ago, which led to a 20% drop in $ONDO’s price. The recurrence of such large transfers raises concerns about short-term price stability. However, it also highlights the strategic positioning of $ONDO within the portfolios of major institutional investors.

4 hours ago, 16M $ONDO (~$19.37M) were transferred from #Coinbase's custody wallet to #Teneo & #Arrington & other VC on #Bybit, #Kucoin & #Gate.

3 weeks ago, same thing happenned & $ONDO's price dumped ~20%.

Address:https://t.co/UoBXXJewIF pic.twitter.com/qVqNmBUxrI

— The Data Nerd (@OnchainDataNerd) June 26, 2024

Despite the current bearish sentiment, $ONDO’s long-term potential remains strong. The token’s unique value proposition as a decentralized investment bank for DeFi positions it well for future growth. As the market prepares for the next bull rally, $ONDO is expected to play a significant role alongside $BTC, benefiting from increased investor interest and broader market dynamics.

Investors should closely monitor $ONDO’s performance in the coming weeks, particularly as it approaches the $1 support level. The token’s ability to maintain or rebound from this support could signal its readiness for a bullish turnaround.

In conclusion, while $ONDO faces short-term market challenges, its fundamental strengths and strategic institutional backing suggest a promising future. As the DeFi space continues to evolve, $ONDO is well-positioned to capitalize on upcoming market opportunities, potentially leading the next cycle’s bull rally in tandem with Bitcoin.

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

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

Image Source: maximusnd/123RF // Image Effects by Colorcinch

The post $ONDO Approaches $1 Support Amid Bearish Trends But Poised For Future Bull Rally appeared first on The Merkle News.

$MKR has surged by 7% today, leading the list of tokens being accumulated by smart money over the past 24 hours. Notable investors have been taking action, indicating a bullish sentiment towards the token.

One prominent wallet, 0x3737, known as “Thiswillmakeyouloveagain,” has been actively buying $MKR. In the past three hours alone, this wallet purchased 37.35 $MKR, worth $94,562, at prices ranging from $2,521 to $2,526.

Currently, this wallet holds a substantial 452.76 $MKR, valued at $1.15 million. In addition to $MKR, the wallet also has significant holdings of 3.65 trillion $PEPE (worth $46.40 million) and 5.44 million $ONDO (worth $6.44 million).

Another wallet, 0x9b43, identified as “twofoldcap.eth,” has also been accumulating $MKR. In the past seven hours, this wallet acquired 66.55 $MKR for $165,000 at an average price of $2,447.

Currently, it holds 100.81 $MKR, valued at $256,860. Alongside $MKR, this wallet also possesses 1.59K $DMT, worth approximately $144,930.

$MKR – Smart Whales Have Acted, Will You Too? 👨‍💻

Watch details here: https://t.co/9EaswLV79l$MKR topped the list of accumulation by Smart Money in the past 24 hours.

Some Smart Whales have started to take action:

📌 Wallet 0x3737 (https://t.co/kEj1mRJOR5), also known as… pic.twitter.com/35nzDvtW55

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) June 27, 2024

How $MKR Performance Can Trigger Other Tokens’ Accumulation 

The recent activity by these smart money wallets indicates a strong interest in $MKR. The token’s price increase and accumulation by influential investors suggest a potential bullish trend. The broader cryptocurrency market has been volatile, but the focused buying of $MKR by these significant players highlights its appeal.

As the market watches these developments, $MKR’s performance could set the tone for other tokens. The strategic moves by “Thiswillmakeyouloveagain” and “twofoldcap.eth” reflect confidence in $MKR’s potential, positioning it as a token to watch closely in the coming days.

With $MKR’s price momentum and substantial interest from smart money, the token appears poised for further growth. Investors and enthusiasts will be keeping a close eye on how these trends develop, potentially shaping the future landscape of $MKR and the broader crypto market.

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

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

Image Source: peshkov/123RF // Image Effects by Colorcinch

The post $MKR Soars 7% Amid Smart Money Accumulation, Despite Market Volatility appeared first on The Merkle News.

Litecoin has emerged as the most active blockchain in the world, consistently surpassing Bitcoin ($BTC) and Ethereum ($ETH) in terms of authentic active addresses.

According to data from @intotheblock, Litecoin’s addresses that made one or more on-chain transactions have outpaced those of its more well-known counterparts. This trend underscores Litecoin’s growing adoption as a global currency.

🚨Litecoin is the most active blockchain the world🚨Continuing to surpass #Bitcoin $BTC and #Ethereum $ETH in authentic active addresses. Source: @intotheblock Addresses that made one or more on-chain transactions. #Litecoin ⚡️ $LTC pic.twitter.com/XVEd69k4x7

— Litecoin (@litecoin) June 26, 2024

The increased activity on the Litecoin network indicates a significant rise in its usage for everyday transactions. With more addresses making frequent on-chain transactions, Litecoin is demonstrating its utility as a medium of exchange.

This surge in activity suggests that users are increasingly turning to Litecoin for its speed and low transaction fees, making it a preferred choice for many.

Litecoin’s Limited Supply Boosts Its Adoption 

One of the key factors contributing to Litecoin’s adoption is its limited supply. Litecoin is a provably scarce asset, with a maximum supply capped at 84 million LTC. Currently, over 74.6 million LTC are in circulation.

In economic terms, assets that are scarce and in high demand tend to hold their value and even appreciate over time. This scarcity, combined with increasing demand, positions Litecoin as a valuable digital asset.

Litecoin's limited supply makes it a provably scarce asset. In economics, scarce assets that are in higher demand. Only a maximum of 84 million $LTC will ever exist, of which over 74.6 million are currently in circulation. #Litecoin ⚡️ https://t.co/xmpbTM5dfA

— Litecoin (@litecoin) June 23, 2024

The economic principle of supply and demand plays a significant role here. As more users adopt Litecoin and its utility as a global currency becomes more apparent, the demand for LTC increases. Given its limited supply, this heightened demand is likely to drive up its value, benefiting long-term holders.

Litecoin’s price will rise massively as it’s being adopted as global money.

It will continue to happen for the next two decades.

— master Ⓜ️🕸 (@MASTERBTCLTC) June 26, 2024

In conclusion, Litecoin’s rise in active addresses and its limited supply underscore its growing adoption and potential as a global currency.

As more users transact on the Litecoin network, its position as a valuable digital asset strengthens. This trend not only highlights Litecoin’s current utility but also its promising future in the cryptocurrency space.

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

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

Image Source: promesaartstudio/123RF // Image Effects by Colorcinch

The post Litecoin Surpasses Bitcoin And Ethereum In Active Addresses, Signaling Mass Adoption appeared first on The Merkle News.

Over the past 30 days, Solana has solidified its position as a top contender in the blockchain space, boasting an impressive 290 million decentralized exchange (DEX) transactions, the highest among all blockchains.

Additionally, Solana has attracted over 18 million unique traders, surpassing any other blockchain in this metric. While Ethereum leads in total trading volume, Solana’s user engagement and transaction numbers highlight its growing prominence.

Check out the DEX activity on major blockchains over the last 30D

Solana outperforms with 290M DEX transactions pic.twitter.com/l4IRd56oN7

— Coin98 Analytics (@Coin98Analytics) June 26, 2024

Today, VanEck announced the first application for a Solana spot ETF in the United States, a significant milestone for the blockchain. VanEck emphasized that Solana offers a superior user experience compared to Ethereum.

This follows the 2021 launch of the Solana Trust Fund by Grayscale, designed for institutional and high-net-worth investors. However, it’s important to note that the Trust’s SOL will not be used to earn staking rewards or generate additional income.

VanEck announced the first application for Solana spot ETF in the United States. VanEck said that Solana is a commodity that provides a better user experience than Ethereum. In 2021, Grayscale launched the Solana Trust Fund, which is aimed at institutional investors and high net…

— Wu Blockchain (@WuBlockchain) June 27, 2024

More Light Into The Solana ETF News 

Despite these advancements, Solana faces challenges in its ETF application process. Unlike Bitcoin and Ethereum, Solana does not have a futures ETF, which complicates its path to approval. Furthermore, the SEC previously ruled that SOL is a security, leading to its delisting from platforms like Robinhood.

Nevertheless, Solana’s rapid growth in user transactions and its expanding trader base underscore its potential. The blockchain’s ability to handle a high volume of transactions efficiently makes it an attractive option for users and investors alike.

If VanEck’s spot ETF application is approved, it could mark a significant step forward for Solana, enhancing its credibility and opening new avenues for investment.

As the blockchain industry evolves, Solana’s innovative approach and robust performance metrics position it as a formidable player, poised to challenge established leaders and redefine user experiences in the decentralized finance space.

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

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

Image Source: alexandarilich/123RF // Image Effects by Colorcinch

The post Solana Emerges As Leading Blockchain With Highest DEX Transactions appeared first on The Merkle News.