The removal of wBTC has caused a stir in the cryptocurrency community!
According to CoinDesk's authoritative report, Coinbase (COIN.O) suddenly announced that it would officially remove wBTC due to the "unacceptable risk" brought by Sun Yuchen! This news instantly detonated the entire network, triggering countless speculations and heated discussions! Last week, BiT Global, the issuer of wBTC, launched a large-scale lawsuit, pointing the finger at Coinbase, accusing it of favoring its competitor cbBTC. This lawsuit is like a bombshell, shaking the entire cryptocurrency community!
However, Coinbase did not sit idly by. In a 25-page official response, Coinbase finally revealed the real reason for removing wBTC - Sun Yuchen! This crypto billionaire, the founder of the Tron blockchain, has become the center of this storm!
According to Coinbase documents, the connection between Justin Sun and wBTC stems from a partnership announced in August this year.
Given Justin Sun’s “involvement”, Coinbase bluntly stated that, like many other companies in the industry, it has serious doubts about whether BiT can be a reliable manager! This decision is undoubtedly a heavy blow to wBTC and the team behind it!
With the exposure of this news, the changes in the cryptocurrency market will become more confusing. The subsequent impact of Coinbase’s delisting of wBTC and how Justin Sun will deal with this crisis will become the focus of our attention!
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According to the latest monitoring, a heartbreaking trading incident has shocked the market!
A trader suffered heavy losses in just three minutes due to trading $rich! Initially, this trader was attracted by the drop in the price of $rich, believing an opportunity had arisen, and decisively spent 198 SOL to buy in. However, fate played a trick, and the price plummeted 60% immediately after the purchase! In a panic, he chose to sell everything at the price of 76 SOL, resulting in an instantaneous loss of 122 SOL!
But the tragedy did not end there! When $rich began to rebound, this trader was once again swayed by FOMO (Fear Of Missing Out) and reinvested 297 SOL. However, history repeated itself, and the price plummeted 60% again! In despair and panic, he sold at 93.5 SOL, incurring another loss of 203.5 SOL!
In this short span of three minutes, he lost a total of 325.8 SOL, worth approximately $73,900! Ironically, $rich actually soared 30 minutes later!
If he had been able to hold on to his position, he might have turned his losses into profits, but reality is so cruel!
Therefore, trading requires caution; do not be misled by temporary fluctuations. Staying calm and analyzing rationally is the only way to last!
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According to the latest monitoring, a 'smart money' whale that earned $4.92 million through PEPE trading in the past six months spent $8.2 million four hours ago to accumulate 475.3 billion PEPE at an average price of $0.00001724, currently with an unrealized profit of $142,000.
Entering December, PEPE attracts multiple whales to enter:
- A whale that previously bought low and sold high for a profit of $6.24 million re-accumulated 250 billion on December 21, at a cost of $0.00001697. - Address 0x53A...63F4A first accumulated 230.1 billion on December 16, at a cost of $0.00002455.
- A whale with an 85% win rate in ETH trading accumulated 788.2 billion on December 15, at an average price of $0.00002394.
- A whale with a 100% win rate in trading increased its position by $3.68 million in PEPE, now holding 1.129 trillion with an average cost of $0.00001647.
What impact will these frequent operations by whales have on the price trend of PEPE? Let's keep an eye on it!
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According to the latest on-chain news, a certain whale/institution has stirred up waves in the crypto market. In October, it splurged 32.45 million USDC through 21 addresses, acquiring 8.917 million EIGEN at an average price of 3.64 USD.
However, last night at 7 PM, the plot reversed, as 4 related addresses redeemed 1,270,507 EIGEN (worth approximately 5.02 million USD) from the EigenLayer staking contract and sold it on-chain, exchanging it for ETH or USDC. Previously, when EIGEN rose to 5.6 USD, the institution had a floating profit of 17.65 million USD, but now it has fallen back to the cost line.
The market sentiment has shifted abruptly, and its subsequent actions are worth close attention. Will it continue to sell or have other plans? The crypto world is ever-changing, so let's keep an eye on it.
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Recently, Bitcoin has experienced a significant pullback, with prices plunging 15% from a historic high of $108,300. Market sentiment has also shifted dramatically from extreme optimism to a haze of uncertainty and caution.
The altcoin market has also suffered a heavy blow, causing investors to worry whether Bitcoin's recent rally can be sustained.
Renowned analyst Maartunn pointed out that this Bitcoin price adjustment is highly correlated with Coinbase's large-scale sell-off actions since October 26 (when the BTC trading price was $66,000).
The significant rise in selling pressure is undoubtedly a strong signal that the market sentiment has shifted from bullish to bearish, with fear and hesitation beginning to spread throughout the market.
Under the dual pressure of weak buying intentions and surging selling pressure, Bitcoin's upward momentum is clearly lacking, and its subsequent trends remain shrouded in uncertainty, becoming the focus of attention in the cryptocurrency market.
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Spending 3.82 million DAI in a Shopping Spree over 16 Hours!
Onchain Lens data shows that in the past 16 hours, a mysterious giant whale has stirred the crypto market with significant purchases of various popular tokens:
- 2 million DAI to acquire 576.36 stETH, betting on the liquidity staking derivatives of the Ethereum ecosystem;
- 1 million DAI to scoop up 53.09 billion PEPE, could it be seeing the potential of this meme coin?
- 673,000 DAI to secure 193.59 ETH, the value of Ethereum needs no elaboration;
- 150,000 DAI to accumulate 85,962 LDO, laying out a plan in the decentralized autonomous organization track.
What kind of chain reaction will this giant whale's actions bring to the market? Let's keep an eye on it!
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3 hours ago, $258 million (11.25 million units) of LINK was unlocked, of which $243 million of LINK surged into Binance like a tide, while the rest flowed into a multi-signature address.
Chainlink's non-circulating supply address releases about 10 to 20 million LINK every three months, most of which heads to Binance, while a small portion flows to the 0xD50...8Af address to 'contribute' to the staking users' reward pool.
Despite the wave of LINK unlocking, and Binance 'gobbling' the large amount, the LINK price remains like a 'calm sea god needle', undisturbed, showing no significant fluctuations.
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In the past 24 hours, the entire network has been liquidated for more than 1.2 billion US dollars!
Long orders have become the "hardest hit area". !
The latest data shows that in the past 24 hours, the total amount of liquidation in the entire network has reached 1.221 billion US dollars.
Among them, the amount of long orders liquidated was astonishing, reaching 1.057 billion US dollars, while the short orders liquidated 164 million US dollars.
Judging from the data of the entire network liquidation in the past 24 hours, the proportion of long orders liquidated far exceeds that of short orders, reflecting that the market may have experienced a more drastic decline or price reversal.
When the price trend is contrary to expectations, long order holders suffer heavy losses due to leverage.
This also warns investors that in the cryptocurrency market, leveraged trading may magnify returns, but risks are also multiplied, and market uncertainty may trigger a liquidation crisis at any time.
Both long and short parties need to be more cautious about leverage operations and pay close attention to market dynamics and various potential risk factors to avoid major losses due to market fluctuations.
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On December 20, the cryptocurrency market is in turmoil! Coinglass data shows that in the past 24 hours, the total liquidation amount across the network reached 1.023 billion USD, with long positions being particularly hard hit, as 857 million USD vanished into thin air.
Meanwhile, globally, 304,900 people suffered liquidations in this storm.
Binance - The last liquidation order worth 15.7954 million USD for ETHUSDT was like a heavy bomb, shocking the market.
Behind this 'blood rain and wind', is it the ruthless crushing of the market trend, or is there something else going on?
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One million dollars $BTC added to strategic reserves!
The El Salvador Bitcoin Office boldly announced on platform X that it has securely transferred BTC worth one million dollars into El Salvador's strategic Bitcoin reserves.
Moreover, prior to this, there were reports that at 8:07 AM Beijing time this morning, El Salvador's wallet address also made a decisive move, directly purchasing 11 Bitcoins worth 1.07 million dollars, with the aim of enriching its strategic Bitcoin reserves.
El Salvador places such great importance on Bitcoin, continuously expanding its strategic reserves. Could it be foreseeing some significant opportunities for Bitcoin in the future?
Everyone is watching to see what impact this series of actions will have on the market!
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The Bitcoin market has undergone dramatic changes!
A certain whale's leveraged gamble!
An exhilarating journey from heaven to hell!
According to monitoring data, on December 14, a mysterious whale boldly took action, borrowing 25 million USDC from Aave and quickly depositing it into Hyperliquid, betting on BTC with an entry price of $101,662.9.
In the following three days, the price of Bitcoin soared, breaking through the $108,000 mark and setting a new high. At that time, this whale player had unrealized profits exceeding $4.4 million, as if victory was assured and financial freedom was within reach.
However, the plot took a sharp turn; he chose not to take profits. With Bitcoin's recent sharp decline, this whale is now deeply trapped in a floating loss of up to $3.75 million.
Was it greed that blinded his eyes, or did he misjudge the market trend? How will this "leveraged game" between the whale and Bitcoin ultimately conclude?
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A certain whale cleared their position 7 hours ago!
Earned a whopping 11.59 million dollars!
On-chain analysts revealed that a mysterious PEPE whale stirred the cryptocurrency market 7 hours ago.
It transferred a massive asset of up to 874 billion PEPE, worth 14.88 million dollars, all into Kraken, clearing all PEPE holdings.
Reportedly, this whale player quietly accumulated 1.359 trillion PEPE through Kraken between March and September, at an average price of 0.000011 dollars. Now, having succeeded, they have made a profit of 11.59 million dollars, with a return rate of 77%!
Their precise entry timing and decisive exit move raise questions: Did they foresee the market shift in advance, or is there something deeper behind it? What kind of chain reaction will this significant move bring to the PEPE market?
Many investors are closely watching, and the next steps in the market are full of suspense. What will be the fate of PEPE?
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The latest data reveals: TK Research report shows that the PENGU token airdrop on December 19 triggered a craze!
📊 Data shows:
• About 700,000 addresses (72%) sold out immediately after receiving it!
• Only 18% of addresses choose to continue holding.
• The warriors who increased their holdings accounted for only 2.6%, and they increased their holdings while receiving airdrops!
The market reactions varied, and the future trend of PENGU tokens attracted attention!
Overall, the market reaction after the PENGU token airdrop showed obvious differentiation characteristics, which will have an important impact on the subsequent development of the project and the market trend.
Investors should pay close attention to market dynamics and project progress to make wise investment decisions.
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