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Loopring Network Hit By $5M Hack, Market Cap Drops Amidst FUD
Loopring’s network suffered a significant breach, with hackers stealing over $5 million. This incident has led to a predictable drop in Loopring’s market cap, as trust among the crypto community has diminished.
The ensuing Fear, Uncertainty, and Doubt (FUD) has compounded a 22% decline in $LRC over the past four days, potentially presenting a buying opportunity amid widespread fear.
➰😱 Loopring's network was compromised by a hack valued at over $5M. The project's market cap has predictably dropped as trust among the crypto community has shrunk. FUD is likely compounding the -22% $LRC 4-day drop, and there is a likely opportunity to buy into others' fear. pic.twitter.com/JAwMZyg1XS
— Santiment (@santimentfeed) June 11, 2024
The breach targeted some Loopring Smart Wallets, specifically those with only one Guardian—the Loopring Official Guardian. The hacker exploited this setup by initiating a Recovery process, masquerading as the wallet owner to reset ownership and withdraw assets.
The attack succeeded by compromising Loopring’s two-factor authentication (2FA) service, allowing the hacker to impersonate the wallet owner and gain approval from the Official Guardian. Consequently, the attacker was able to transfer assets out of the compromised wallets.
Loopring Teams Up with Security Agencies To Deal With The Hack
In response, the Loopring team is actively collaborating with Mist security experts to investigate how their 2FA service was compromised. To safeguard users, they have temporarily suspended Guardian-related and 2FA-related operations, effectively halting further breaches.
Loopring is also working closely with law enforcement and professional security teams to track down the perpetrator. Despite the breach, the prompt actions taken by Loopring to address the issue and their collaboration with security experts and authorities indicate a commitment to restoring trust and securing the network.
https://x.com/loopringorg/status/1799791898296451515?t=Nilm8B0NmCZtIMSnZsd9AA&s=19
As the investigation continues and security measures are reinforced, the market may start to regain confidence in Loopring. For now, the decline in $LRC presents a potential entry point for those looking to capitalize on the current market sentiment.
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: serezniy/123RF// Image Effects by Colorcinch
The post Loopring Network Hit By $5M Hack, Market Cap Drops Amidst FUD appeared first on The Merkle News.
The ensuing Fear, Uncertainty, and Doubt (FUD) has compounded a 22% decline in $LRC over the past four days, potentially presenting a buying opportunity amid widespread fear.
➰😱 Loopring's network was compromised by a hack valued at over $5M. The project's market cap has predictably dropped as trust among the crypto community has shrunk. FUD is likely compounding the -22% $LRC 4-day drop, and there is a likely opportunity to buy into others' fear. pic.twitter.com/JAwMZyg1XS
— Santiment (@santimentfeed) June 11, 2024
The breach targeted some Loopring Smart Wallets, specifically those with only one Guardian—the Loopring Official Guardian. The hacker exploited this setup by initiating a Recovery process, masquerading as the wallet owner to reset ownership and withdraw assets.
The attack succeeded by compromising Loopring’s two-factor authentication (2FA) service, allowing the hacker to impersonate the wallet owner and gain approval from the Official Guardian. Consequently, the attacker was able to transfer assets out of the compromised wallets.
Loopring Teams Up with Security Agencies To Deal With The Hack
In response, the Loopring team is actively collaborating with Mist security experts to investigate how their 2FA service was compromised. To safeguard users, they have temporarily suspended Guardian-related and 2FA-related operations, effectively halting further breaches.
Loopring is also working closely with law enforcement and professional security teams to track down the perpetrator. Despite the breach, the prompt actions taken by Loopring to address the issue and their collaboration with security experts and authorities indicate a commitment to restoring trust and securing the network.
https://x.com/loopringorg/status/1799791898296451515?t=Nilm8B0NmCZtIMSnZsd9AA&s=19
As the investigation continues and security measures are reinforced, the market may start to regain confidence in Loopring. For now, the decline in $LRC presents a potential entry point for those looking to capitalize on the current market sentiment.
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: serezniy/123RF// Image Effects by Colorcinch
The post Loopring Network Hit By $5M Hack, Market Cap Drops Amidst FUD appeared first on The Merkle News.
UwU Lend Suffers $19M Loss in Price Manipulation Attack
UwU Lend has experienced a significant attack resulting in the theft of over $19 million in tokens. The attacker exploited price manipulation techniques to carry out the heist, using flash loans to orchestrate the scheme.
Initially, the attacker used a flash loan to swap $USDe for other tokens, causing the price of $USDe and $sUSDe to drop. Capitalizing on this price drop, the attacker deposited some of these tokens into UwU Lend and borrowed more $sUSDe than the platform would typically allow.
Next, the attacker manipulated the price of $USDe to drive it higher. Using the inflated value, they deposited $sUSDe into UwU Lend and borrowed more $CRV than expected. By exploiting these price fluctuations, the attacker managed to steal a substantial amount of tokens.
Hacker Store Over $19 Million Worth Of Different Cryptos
In total, the attackers stole more than $19 million in various tokens, all of which were eventually swapped into $ETH. This incident underscores the vulnerabilities in decentralized finance platforms, where price manipulation and flash loans can be used to exploit the system.
Analysis of @UwU_Lend attack:
UwU Lend attack is caused by price manipulation. The attacker first use flash loan to swap $USDe for other tokens, which led to a lower price of $USDe and $sUSDe.
The attacker deposited some to UwU Lend and then lent more $sUSDe than expected. pic.twitter.com/wanIwZymBZ
— Beosin Alert (@BeosinAlert) June 11, 2024
UwU Lend is likely to face increased scrutiny and a loss of trust from the crypto community as a result of this breach. Moving forward, the platform will need to implement stronger security measures to prevent similar attacks and regain user confidence.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any AI stocks.
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 UwU Lend Suffers $19M Loss In Price Manipulation Attack appeared first on The Merkle News.
Initially, the attacker used a flash loan to swap $USDe for other tokens, causing the price of $USDe and $sUSDe to drop. Capitalizing on this price drop, the attacker deposited some of these tokens into UwU Lend and borrowed more $sUSDe than the platform would typically allow.
Next, the attacker manipulated the price of $USDe to drive it higher. Using the inflated value, they deposited $sUSDe into UwU Lend and borrowed more $CRV than expected. By exploiting these price fluctuations, the attacker managed to steal a substantial amount of tokens.
Hacker Store Over $19 Million Worth Of Different Cryptos
In total, the attackers stole more than $19 million in various tokens, all of which were eventually swapped into $ETH. This incident underscores the vulnerabilities in decentralized finance platforms, where price manipulation and flash loans can be used to exploit the system.
Analysis of @UwU_Lend attack:
UwU Lend attack is caused by price manipulation. The attacker first use flash loan to swap $USDe for other tokens, which led to a lower price of $USDe and $sUSDe.
The attacker deposited some to UwU Lend and then lent more $sUSDe than expected. pic.twitter.com/wanIwZymBZ
— Beosin Alert (@BeosinAlert) June 11, 2024
UwU Lend is likely to face increased scrutiny and a loss of trust from the crypto community as a result of this breach. Moving forward, the platform will need to implement stronger security measures to prevent similar attacks and regain user confidence.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any AI stocks.
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 UwU Lend Suffers $19M Loss In Price Manipulation Attack appeared first on The Merkle News.
High-Risk Loan Volumes on Aave Reach Critical Levels Amid DeFi Lending Surge
According to intoTheBlock, high-risk loan volumes on the Aave protocol are approaching critical levels as DeFi loan volumes soar to multi-year highs.
Investors are aggressively seeking to maximize profits ahead of a predicted crypto bull run, driving significant activity in the DeFi lending space.
The latest data reveals that outstanding DeFi loans have surged to $11 billion, the highest in two years. Aave plays a substantial role in this boom, accounting for over 50% of the total, or roughly $7 billion.
Of particular concern is the $1 billion in high-risk debt within the Aave ecosystem. This debt is backed by volatile collateral and sits within 5% of liquidation thresholds. In practical terms, if the value of this collateral drops by just 5%, borrowers will be required to add more collateral or face automatic liquidation of their positions.
According to @IntoTheBlock, high-risk loan volumes on Aave ptotocol are reaching critical levels as DeFi loan volumes hit multi-year highs. Investors are seeking to maximize profits ahead of an anticipated crypto bull run.
The Lending protocols perspective shows DeFi loans… pic.twitter.com/489EKdeirM
— Slim Daddy◻️𓃵 ₿ (@felixreads) June 10, 2024
This situation highlights the increased risk and activity within the DeFi space. The significant volume of high-risk loans reflects a growing trend of investors taking on greater risk to capitalize on potential gains from an anticipated bull market. However, this also means that the DeFi ecosystem is becoming increasingly vulnerable to market volatility.
The surge in DeFi lending and the associated risks underscore the need for investors to be cautious. While the potential for high returns is driving more activity, the risks of sudden market downturns and liquidations are also rising. This delicate balance between reward and risk is a defining characteristic of the current DeFi landscape.
As the DeFi sector continues to evolve, monitoring the levels of high-risk debt and the stability of collateral values will be crucial. The actions of borrowers and the overall market conditions will play a pivotal role in determining whether the current trend leads to substantial gains or significant losses. Investors should remain vigilant and consider the implications of these high-risk loans on their strategies.
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: smshoot/123RF // Image Effects by Colorcinch
The post High-Risk Loan Volumes On Aave Reach Critical Levels Amid DeFi Lending Surge appeared first on The Merkle News.
Investors are aggressively seeking to maximize profits ahead of a predicted crypto bull run, driving significant activity in the DeFi lending space.
The latest data reveals that outstanding DeFi loans have surged to $11 billion, the highest in two years. Aave plays a substantial role in this boom, accounting for over 50% of the total, or roughly $7 billion.
Of particular concern is the $1 billion in high-risk debt within the Aave ecosystem. This debt is backed by volatile collateral and sits within 5% of liquidation thresholds. In practical terms, if the value of this collateral drops by just 5%, borrowers will be required to add more collateral or face automatic liquidation of their positions.
According to @IntoTheBlock, high-risk loan volumes on Aave ptotocol are reaching critical levels as DeFi loan volumes hit multi-year highs. Investors are seeking to maximize profits ahead of an anticipated crypto bull run.
The Lending protocols perspective shows DeFi loans… pic.twitter.com/489EKdeirM
— Slim Daddy◻️𓃵 ₿ (@felixreads) June 10, 2024
This situation highlights the increased risk and activity within the DeFi space. The significant volume of high-risk loans reflects a growing trend of investors taking on greater risk to capitalize on potential gains from an anticipated bull market. However, this also means that the DeFi ecosystem is becoming increasingly vulnerable to market volatility.
The surge in DeFi lending and the associated risks underscore the need for investors to be cautious. While the potential for high returns is driving more activity, the risks of sudden market downturns and liquidations are also rising. This delicate balance between reward and risk is a defining characteristic of the current DeFi landscape.
As the DeFi sector continues to evolve, monitoring the levels of high-risk debt and the stability of collateral values will be crucial. The actions of borrowers and the overall market conditions will play a pivotal role in determining whether the current trend leads to substantial gains or significant losses. Investors should remain vigilant and consider the implications of these high-risk loans on their strategies.
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: smshoot/123RF // Image Effects by Colorcinch
The post High-Risk Loan Volumes On Aave Reach Critical Levels Amid DeFi Lending Surge appeared first on The Merkle News.
Whale Activity Spurs Significant Movements in UNI, BLZ, PEPE, and TRB
Recent transactions by prominent crypto whales and fresh wallets have drawn attention to several tokens, including UNI, BLZ, PEPE, and TRB. This activity has led to notable price movements, especially for UNI and BLZ, which saw significant gains.
One of the key transactions involved the address 0x3492, which withdrew 870,827 UNI, valued at approximately $8.5 million, from OKX. Similarly, the address 0xe841 withdrew 7.69 million BLZ, worth $2.16 million, from Binance. These large withdrawals coincided with price pumps of 8% for UNI and 11% for BLZ, reflecting increased investor interest and market activity.
In addition to UNI and BLZ, significant amounts of PEPE and TRB were also withdrawn by whale addresses. Address 0x81cC, along with 0xf226, collectively withdrew 303.4 billion PEPE, valued at $3.8 million, from Binance and OKX. Furthermore, address 0x8499 withdrew 20,628 TRB, worth $1.9 million, from Binance.
Whales/freshwallets bought $UNI , $BLZ $PEPE and $TRB .
0x3492 withdrew 870,827 $UNI ($8.5M) from #OKX 1 hour ago.https://t.co/fDNkGukDP4
0xe841 withdrew 7.69M $BLZ ($2.16M) from #Binance 1 hour ago.https://t.co/dZtkV4i6I0
0x81cC and 0xf226 withdrew 303.4B $PEPE($3.8M) from… pic.twitter.com/wnQ3Gpnng7
— Lookonchain (@lookonchain) June 10, 2024
Whale Movement And Price Impacts
These movements highlight the influence that whale activity can have on the cryptocurrency market. Large withdrawals and accumulations by prominent wallets often signal bullish sentiment and can lead to substantial price fluctuations. The recent 8% and 11% pumps in UNI and BLZ, respectively, are clear examples of how such activities can drive market trends.
The crypto community closely monitors these transactions as they can provide insights into potential market directions. The substantial investments in UNI, BLZ, PEPE, and TRB suggest that these tokens are currently viewed favorably by significant market players.
As these whales and fresh wallets continue to maneuver within the market, their actions will likely remain a key factor in influencing price movements and market sentiment. Investors should stay informed about these large transactions as they can offer valuable clues about upcoming trends and shifts in the cryptocurrency 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: khai9000/123RF // Image Effects by Colorcinch
The post Whale Activity Spurs Significant Movements In UNI, BLZ, PEPE, and TRB appeared first on The Merkle News.
One of the key transactions involved the address 0x3492, which withdrew 870,827 UNI, valued at approximately $8.5 million, from OKX. Similarly, the address 0xe841 withdrew 7.69 million BLZ, worth $2.16 million, from Binance. These large withdrawals coincided with price pumps of 8% for UNI and 11% for BLZ, reflecting increased investor interest and market activity.
In addition to UNI and BLZ, significant amounts of PEPE and TRB were also withdrawn by whale addresses. Address 0x81cC, along with 0xf226, collectively withdrew 303.4 billion PEPE, valued at $3.8 million, from Binance and OKX. Furthermore, address 0x8499 withdrew 20,628 TRB, worth $1.9 million, from Binance.
Whales/freshwallets bought $UNI , $BLZ $PEPE and $TRB .
0x3492 withdrew 870,827 $UNI ($8.5M) from #OKX 1 hour ago.https://t.co/fDNkGukDP4
0xe841 withdrew 7.69M $BLZ ($2.16M) from #Binance 1 hour ago.https://t.co/dZtkV4i6I0
0x81cC and 0xf226 withdrew 303.4B $PEPE($3.8M) from… pic.twitter.com/wnQ3Gpnng7
— Lookonchain (@lookonchain) June 10, 2024
Whale Movement And Price Impacts
These movements highlight the influence that whale activity can have on the cryptocurrency market. Large withdrawals and accumulations by prominent wallets often signal bullish sentiment and can lead to substantial price fluctuations. The recent 8% and 11% pumps in UNI and BLZ, respectively, are clear examples of how such activities can drive market trends.
The crypto community closely monitors these transactions as they can provide insights into potential market directions. The substantial investments in UNI, BLZ, PEPE, and TRB suggest that these tokens are currently viewed favorably by significant market players.
As these whales and fresh wallets continue to maneuver within the market, their actions will likely remain a key factor in influencing price movements and market sentiment. Investors should stay informed about these large transactions as they can offer valuable clues about upcoming trends and shifts in the cryptocurrency 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: khai9000/123RF // Image Effects by Colorcinch
The post Whale Activity Spurs Significant Movements In UNI, BLZ, PEPE, and TRB appeared first on The Merkle News.
GMX Experiences Brief Decline Amidst Whale and Institutional Accumulation
The decentralized exchange GMX, operating on the Arbitrum and Avalanche blockchains, saw a brief decline of 4% today after a strong performance, having surged 15% over the past week.
On-chain data from Lookonchain indicates significant buying activity from whales and institutions.
66 Wallets Withdrew 344,502 GMX Tokens
In the past two days, six new wallets collectively withdrew 344,502 GMX tokens, valued at $15.3 million, from Binance. This accumulation by large holders suggests confidence in the long-term potential of GMX despite the recent price dip.
Whales/institutions are buying $GMX , and the price of $GMX has increased by ~24% in the past 2 days.
6 fresh wallets withdrew a total of 344,502 $GMX ($15.3M) from #Binance in the past 2 days.
Wallets:0x68fdea13878d7ce741cc596db55564909d9ecc8a… pic.twitter.com/Err6YfdYrb
— Lookonchain (@lookonchain) June 7, 2024
The recent downturn follows a period of impressive growth, highlighting the volatility often seen in the crypto market.
As whale and institutional interest continues to rise, the market dynamics for GMX could see further shifts in the near future.
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: iqoncept/123RF // Image Effects by Colorcinch
The post GMX Experiences Brief Decline Amidst Whale And Institutional Accumulation appeared first on The Merkle News.
On-chain data from Lookonchain indicates significant buying activity from whales and institutions.
66 Wallets Withdrew 344,502 GMX Tokens
In the past two days, six new wallets collectively withdrew 344,502 GMX tokens, valued at $15.3 million, from Binance. This accumulation by large holders suggests confidence in the long-term potential of GMX despite the recent price dip.
Whales/institutions are buying $GMX , and the price of $GMX has increased by ~24% in the past 2 days.
6 fresh wallets withdrew a total of 344,502 $GMX ($15.3M) from #Binance in the past 2 days.
Wallets:0x68fdea13878d7ce741cc596db55564909d9ecc8a… pic.twitter.com/Err6YfdYrb
— Lookonchain (@lookonchain) June 7, 2024
The recent downturn follows a period of impressive growth, highlighting the volatility often seen in the crypto market.
As whale and institutional interest continues to rise, the market dynamics for GMX could see further shifts in the near future.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: iqoncept/123RF // Image Effects by Colorcinch
The post GMX Experiences Brief Decline Amidst Whale And Institutional Accumulation appeared first on The Merkle News.
Litecoin Activity Surges Despite Stable Prices, Outpacing Ethereum in Address Activity
Despite Litecoin’s price remaining relatively stable over the past 30 days, data from Lookonchain reveals a significant spike in activity.
Yesterday, the number of active Litecoin addresses soared by 75%, reaching its highest level since January and surpassing Ethereum by over 100,000 active addresses.
https://x.com/intotheblock/status/1799006336451244319?t=6uowNSmKiFD9rhWCBOrNzw&s=19
In addition to this surge in address activity, the number of Litecoin ($LTC ) transactions also saw a substantial increase, hitting 426,000 transactions yesterday. While a large portion of this increase is attributed to transactions smaller than $10, there has been a noticeable rise in transactions across all sizes.
This spike in Litecoin activity, despite the lack of significant price movement, suggests growing interest and usage of the cryptocurrency. The increase in both small and large transactions indicates a broader adoption and utilization of Litecoin in various financial activities.
As Litecoin continues to see a rise in activity, it highlights the potential for future growth and underscores its role as a key player in the cryptocurrency market. The data underscores a shift in user behavior, emphasizing the importance of monitoring transaction and address activity as indicators of cryptocurrency adoption and usage.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: promesaartstudio/123RF // Image Effects by Colorcinch
The post Litecoin Activity Surges Despite Stable Prices, Outpacing Ethereum In Address Activity appeared first on The Merkle News.
Yesterday, the number of active Litecoin addresses soared by 75%, reaching its highest level since January and surpassing Ethereum by over 100,000 active addresses.
https://x.com/intotheblock/status/1799006336451244319?t=6uowNSmKiFD9rhWCBOrNzw&s=19
In addition to this surge in address activity, the number of Litecoin ($LTC ) transactions also saw a substantial increase, hitting 426,000 transactions yesterday. While a large portion of this increase is attributed to transactions smaller than $10, there has been a noticeable rise in transactions across all sizes.
This spike in Litecoin activity, despite the lack of significant price movement, suggests growing interest and usage of the cryptocurrency. The increase in both small and large transactions indicates a broader adoption and utilization of Litecoin in various financial activities.
As Litecoin continues to see a rise in activity, it highlights the potential for future growth and underscores its role as a key player in the cryptocurrency market. The data underscores a shift in user behavior, emphasizing the importance of monitoring transaction and address activity as indicators of cryptocurrency adoption and usage.
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 Activity Surges Despite Stable Prices, Outpacing Ethereum In Address Activity appeared first on The Merkle News.
BRETT Memecoin Surges 24% Amid Insider Sell-Offs: Major Wallet Activity Observed
The BRETT memecoin experienced a 24% surge today, followed by significant sell-offs from early buyers and insiders who capitalized on the price rebound.
Over the past 32 hours, five prominent “insider” wallets collectively transferred 71.76 million BRETT tokens, valued at $9.94 million, to exchanges such as Gate.io, KuCoin, and Bybit.
These transactions led to notable price dips following each transfer.
#MEMEcoin $BRETT early buyers/insiders are selling for profits after the price rebounded!
In the last 32 hours, 5 "insider" wallets jointly deposited 71.76M $BRETT ($9.94M) to #Gateio, #KuCoin, and #Bybit, causing the price to dip after each transfer. pic.twitter.com/gvfaZFu39g
— Spot On Chain (@spotonchain) June 7, 2024
15 Wallets Acquired 1.86 Billion B
These wallets are part of a larger group of 15 wallets that initially acquired 1.86 billion BRETT tokens, representing 18.6% of the total supply, by swapping 4.9 ETH (worth $14.4K) within 45 minutes of the token’s creation on February 25.
Despite the recent sell-offs, these wallets still retain a substantial 941.4 million BRETT tokens, valued at approximately $132 million.
This activity highlights the significant influence of early buyers and insiders on the BRETT memecoin’s market movements, with their actions causing fluctuations in the token’s price. As the market reacts to these developments, the future trajectory of BRETT remains uncertain.
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: olegdudko/123RF
The post BRETT Memecoin Surges 24% Amid Insider Sell-Offs: Major Wallet Activity Observed appeared first on The Merkle News.
Over the past 32 hours, five prominent “insider” wallets collectively transferred 71.76 million BRETT tokens, valued at $9.94 million, to exchanges such as Gate.io, KuCoin, and Bybit.
These transactions led to notable price dips following each transfer.
#MEMEcoin $BRETT early buyers/insiders are selling for profits after the price rebounded!
In the last 32 hours, 5 "insider" wallets jointly deposited 71.76M $BRETT ($9.94M) to #Gateio, #KuCoin, and #Bybit, causing the price to dip after each transfer. pic.twitter.com/gvfaZFu39g
— Spot On Chain (@spotonchain) June 7, 2024
15 Wallets Acquired 1.86 Billion B
These wallets are part of a larger group of 15 wallets that initially acquired 1.86 billion BRETT tokens, representing 18.6% of the total supply, by swapping 4.9 ETH (worth $14.4K) within 45 minutes of the token’s creation on February 25.
Despite the recent sell-offs, these wallets still retain a substantial 941.4 million BRETT tokens, valued at approximately $132 million.
This activity highlights the significant influence of early buyers and insiders on the BRETT memecoin’s market movements, with their actions causing fluctuations in the token’s price. As the market reacts to these developments, the future trajectory of BRETT remains uncertain.
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: olegdudko/123RF
The post BRETT Memecoin Surges 24% Amid Insider Sell-Offs: Major Wallet Activity Observed appeared first on The Merkle News.
Bitcoin’s Momentum Builds: Market Conditions Ripe for a Breakout
Bitcoin’s daily transaction volumes have surged past $70.9 billion, signaling heightened market activity.
The In/Out of the Money Around Price (IOMAP) indicator suggests that there is minimal resistance up to the $73,000 level, hinting at the potential for Bitcoin to rise further.
Daily transaction volumes in $BTC have reached over $70.9 billion, pointing to increased activity.
Notably, the In/Out of the Money Around Price indicator reveals that there is limited resistance until the $73,000 high, indicating the potential for a further upward surge in… pic.twitter.com/uzz9vrH7wD
— Slim Daddy◻️𓃵 ₿ (@felixreads) June 6, 2024
This raises the question of when this upward movement will take place. Given the low resistance and substantial transaction volumes, the market appears primed for a breakout to new highs.
Bitcoin ETF Inflows Hit $218 Million
In addition, Bitcoin ETF inflows on June 6, 2024, totaled $218 million. This marks the 18th consecutive day of positive net inflows, the longest streak on record. BlackRock’s IBIT fund saw a single-day inflow rebound to $350 million, the highest in the past two months.
🚨 $BTC #ETF Net Inflow June 6, 2024: +$218M!
• The net inflow has been positive for 18 consecutive trading days, the longest streak ever! 👏
• The single-day inflow of #BlackRock (IBIT) rebounded to $350M, the highest level in the last 2 trading months.
• #Grayscale (GBTC)… pic.twitter.com/OlECpF9faz
— Spot On Chain (@spotonchain) June 7, 2024
Conversely, Grayscale’s GBTC experienced an outflow after two days of inflows.
The combination of robust transaction volumes, minimal resistance, and sustained ETF inflows creates an optimistic outlook for Bitcoin. Market conditions seem set for Bitcoin to reach new highs, with the timing of this movement being the key variable.
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: tzido/123RF // Image Effects by Colorcinch
The post Bitcoin’s Momentum Builds: Market Conditions Ripe For A Breakout appeared first on The Merkle News.
The In/Out of the Money Around Price (IOMAP) indicator suggests that there is minimal resistance up to the $73,000 level, hinting at the potential for Bitcoin to rise further.
Daily transaction volumes in $BTC have reached over $70.9 billion, pointing to increased activity.
Notably, the In/Out of the Money Around Price indicator reveals that there is limited resistance until the $73,000 high, indicating the potential for a further upward surge in… pic.twitter.com/uzz9vrH7wD
— Slim Daddy◻️𓃵 ₿ (@felixreads) June 6, 2024
This raises the question of when this upward movement will take place. Given the low resistance and substantial transaction volumes, the market appears primed for a breakout to new highs.
Bitcoin ETF Inflows Hit $218 Million
In addition, Bitcoin ETF inflows on June 6, 2024, totaled $218 million. This marks the 18th consecutive day of positive net inflows, the longest streak on record. BlackRock’s IBIT fund saw a single-day inflow rebound to $350 million, the highest in the past two months.
🚨 $BTC #ETF Net Inflow June 6, 2024: +$218M!
• The net inflow has been positive for 18 consecutive trading days, the longest streak ever! 👏
• The single-day inflow of #BlackRock (IBIT) rebounded to $350M, the highest level in the last 2 trading months.
• #Grayscale (GBTC)… pic.twitter.com/OlECpF9faz
— Spot On Chain (@spotonchain) June 7, 2024
Conversely, Grayscale’s GBTC experienced an outflow after two days of inflows.
The combination of robust transaction volumes, minimal resistance, and sustained ETF inflows creates an optimistic outlook for Bitcoin. Market conditions seem set for Bitcoin to reach new highs, with the timing of this movement being the key variable.
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!
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The post Bitcoin’s Momentum Builds: Market Conditions Ripe For A Breakout appeared first on The Merkle News.
Arthur Hayes Unstakes $9.41M in Pendle Tokens, Sparking Market Concerns
Pendle (PENDLE) has seen a brief decline in value following a notable surge in recent weeks.
According to on-chain reports from Lookonchain, Arthur Hayes, co-founder of BitMEX and a prominent figure in the cryptocurrency world, unstaked 1.55 million PENDLE tokens worth $9.41 million.
Hayes’s decision to unstake such a substantial amount of PENDLE has raised concerns within the community about a potential price dump.
Currently holding 1.69 million PENDLE tokens, Hayes’s move has led to fears that he may be preparing to sell off his assets, which could exert downward pressure on the token’s price.
Arthur Hayes(@CryptoHayes) unstaked 1.55M $PENDLE ($9.41M) 40 minutes ago and currently holds 1.69M $PENDLE ($10.26M), with an average buying price of $2.24.
His unrealized profit on $PENDLE is $6.46M.https://t.co/wmOyMVRRlDhttps://t.co/YKyINyarvS pic.twitter.com/wbON3mzlQC
— Lookonchain (@lookonchain) June 6, 2024
Hars Still Has Over $6.46 Million Unrealised Profit
Despite the recent unstaking, Hayes still has an unrealized profit of approximately $6.46 million, with an average purchase price of $2.24 per token. This significant profit margin suggests that Hayes’s investment in PENDLE has been highly successful thus far, further fueling speculation about his future actions.
The cryptocurrency market is closely watching Hayes’s next moves, as his decisions could significantly impact PENDLE’s price and investor sentiment. The recent surge in PENDLE’s value, followed by the current dip, highlights the volatility and sensitivity of the market to actions taken by influential figures.
In summary, Arthur Hayes’s unstaking of 1.55 million PENDLE tokens has sparked fears of a potential price dump, causing a brief decline in the token’s value. With a considerable amount of PENDLE still in his possession and a significant unrealized profit, the market will be closely monitoring Hayes’s next steps.
This situation underscores the impact that major stakeholders can have on the cryptocurrency market and the importance of staying informed about their activities.
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!
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The post Arthur Hayes Unstakes $9.41M In Pendle Tokens, Sparking Market Concerns appeared first on The Merkle News.
According to on-chain reports from Lookonchain, Arthur Hayes, co-founder of BitMEX and a prominent figure in the cryptocurrency world, unstaked 1.55 million PENDLE tokens worth $9.41 million.
Hayes’s decision to unstake such a substantial amount of PENDLE has raised concerns within the community about a potential price dump.
Currently holding 1.69 million PENDLE tokens, Hayes’s move has led to fears that he may be preparing to sell off his assets, which could exert downward pressure on the token’s price.
Arthur Hayes(@CryptoHayes) unstaked 1.55M $PENDLE ($9.41M) 40 minutes ago and currently holds 1.69M $PENDLE ($10.26M), with an average buying price of $2.24.
His unrealized profit on $PENDLE is $6.46M.https://t.co/wmOyMVRRlDhttps://t.co/YKyINyarvS pic.twitter.com/wbON3mzlQC
— Lookonchain (@lookonchain) June 6, 2024
Hars Still Has Over $6.46 Million Unrealised Profit
Despite the recent unstaking, Hayes still has an unrealized profit of approximately $6.46 million, with an average purchase price of $2.24 per token. This significant profit margin suggests that Hayes’s investment in PENDLE has been highly successful thus far, further fueling speculation about his future actions.
The cryptocurrency market is closely watching Hayes’s next moves, as his decisions could significantly impact PENDLE’s price and investor sentiment. The recent surge in PENDLE’s value, followed by the current dip, highlights the volatility and sensitivity of the market to actions taken by influential figures.
In summary, Arthur Hayes’s unstaking of 1.55 million PENDLE tokens has sparked fears of a potential price dump, causing a brief decline in the token’s value. With a considerable amount of PENDLE still in his possession and a significant unrealized profit, the market will be closely monitoring Hayes’s next steps.
This situation underscores the impact that major stakeholders can have on the cryptocurrency market and the importance of staying informed about their activities.
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: angrysun/123RF // Image Effects by Colorcinch
The post Arthur Hayes Unstakes $9.41M In Pendle Tokens, Sparking Market Concerns appeared first on The Merkle News.
Whales Dump $12.37M in LINK and UNI, Triggering 4% Price Drop
In the last five hours, two significant whales, likely representing an institutional entity, offloaded 371,000 LINK ($6.48 million) and 541,000 UNI ($5.89 million) on Binance, causing the prices of both tokens to plummet by approximately 4%.
These whales had accumulated the majority of these tokens in late May, driven by the Ethereum ETF approval hype. The strategic timing of the dump appears to have been an effort to capitalize on recent market conditions, resulting in an estimated profit of $797,000.
In the past 5hrs, two whales (likely one institution) dumped 371K $LINK ($6.48M) and 541K $UNI ($5.89M) via #Binance, causing each price to drop ~4%!
Notably, most of these tokens were accumulated in late May, amid the #Ethereum ETF approval hype.
Total est. profits: $797K pic.twitter.com/GGGQmqWchU
— Spot On Chain (@spotonchain) June 6, 2024
Despite this significant sell-off, the whales still hold a substantial amount of UNI, with 670,000 UNI tokens ($7.51 million) remaining in their wallets. This retained position indicates that further market impacts could be on the horizon should these whales decide to liquidate more of their holdings.
Effects on Token Price Amidst Dumping
The substantial dumping of LINK and UNI has not only affected the prices of these tokens but also highlights the influence of large holders on market dynamics. The sudden sell-off and subsequent price drop serve as a reminder of the volatility inherent in the cryptocurrency market, especially when large players make significant moves.
As the market digests this recent activity, investors will be closely watching for any further actions from these whales and others. The remaining UNI tokens in the whales’ wallets suggest that additional market movements could occur, potentially leading to further price volatility.
In summary, the recent whale activity has significantly impacted LINK and UNI prices, demonstrating the substantial influence large holders can exert on the market. Investors should stay vigilant for further developments, especially with a large quantity of UNI still in whale wallets.
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!
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The post Whales Dump $12.37M In LINK and UNI, Triggering 4% Price Drop appeared first on The Merkle News.
These whales had accumulated the majority of these tokens in late May, driven by the Ethereum ETF approval hype. The strategic timing of the dump appears to have been an effort to capitalize on recent market conditions, resulting in an estimated profit of $797,000.
In the past 5hrs, two whales (likely one institution) dumped 371K $LINK ($6.48M) and 541K $UNI ($5.89M) via #Binance, causing each price to drop ~4%!
Notably, most of these tokens were accumulated in late May, amid the #Ethereum ETF approval hype.
Total est. profits: $797K pic.twitter.com/GGGQmqWchU
— Spot On Chain (@spotonchain) June 6, 2024
Despite this significant sell-off, the whales still hold a substantial amount of UNI, with 670,000 UNI tokens ($7.51 million) remaining in their wallets. This retained position indicates that further market impacts could be on the horizon should these whales decide to liquidate more of their holdings.
Effects on Token Price Amidst Dumping
The substantial dumping of LINK and UNI has not only affected the prices of these tokens but also highlights the influence of large holders on market dynamics. The sudden sell-off and subsequent price drop serve as a reminder of the volatility inherent in the cryptocurrency market, especially when large players make significant moves.
As the market digests this recent activity, investors will be closely watching for any further actions from these whales and others. The remaining UNI tokens in the whales’ wallets suggest that additional market movements could occur, potentially leading to further price volatility.
In summary, the recent whale activity has significantly impacted LINK and UNI prices, demonstrating the substantial influence large holders can exert on the market. Investors should stay vigilant for further developments, especially with a large quantity of UNI still in whale wallets.
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: fellowneko/123RF // Image Effects by Colorcinch
The post Whales Dump $12.37M In LINK and UNI, Triggering 4% Price Drop appeared first on The Merkle News.
The New Wave of AI Platform Coins in the Crypto Market and RACA’s Strategic Bet on 4090 GPU Graph...
AI platform coins are emerging as a dominant force in the cryptocurrency landscape, effectively becoming the new breed of meme coins.
Over the past 18 months, these coins have demonstrated remarkable resilience and growth, often outperforming even Bitcoin during market fluctuations.
Every minor uptrend in Bitcoin’s price curve sees AI and meme coins not only rise the most but also decline the least during downturns, establishing their status as robust players in the crypto arena.
The Future of AI Applications and Crypto Integration
As artificial intelligence applications mature, they are set to bring significant innovations, drawing increased attention to AI-focused cryptocurrencies. AI coins are unique in that their value is driven largely by narrative, hype, and emotional investment, making them the most potent and dynamic meme coins.
With substantial hot money inflows and numerous opportunities for early miners, these coins are positioned to capture significant market share. Several high-profile projects are pushing the boundaries of decentralized AI and GPU computing power platforms. Notable examples include Depin AI projects, which are expected to attract funding in the tens or even hundreds of billions of dollars. Esteemed institutions like Stanford, MIT, and Oxford are seeing their graduates and professors venture into blockchain to develop these platforms, signaling a promising future for AI in the crypto space.
RACA AI’s Strategic Bet on 4090 GPU Graphics Card
RACA AI has strategically chosen 4090 GPU graphics card to leverage their superior AI compute inference capabilities. This decision is grounded in several compelling reasons:
Optimal Cost-Effectiveness for zk-Proof Compute: 4090 GPUs offer the best cost-effective solution for zk-proof compute, outperforming other models like H100 GPUs, which are often excluded from mining.
Leading Inference Performance: The 4090 GPUs excel in inference tasks, capturing liquidity and narratives from leading blockchain AI compute inference platforms.
Advanced Features: With support for FP8 and superior memory size, the 4090 GPUs can handle unquantified 70B models with ease.
Reliability and Stability: Designed for long-term operation, these GPUs ensure high reliability for continuous AI compute tasks.
Cost-Effectiveness: Offering higher performance at lower costs, the 4090 GPUs are an economical choice for both AI compute inference and zk-proof compute tasks.
The Potential of AI Compute Inference Capabilities
The future of AI applications hinges on large-scale models and innovative inference applications. According to Menlo Ventures, nearly 95% of AI spending is currently on runtime, not pre-training stages. This trend points to a future where efficient deployment and operation of AI models are paramount. As technology advances, companies are adopting optimization techniques to enhance inference efficiency, indicating a significant shift towards flexible and efficient AI applications.
Market research underscores the rapid growth of the AI inference market. Reports from Market Research Future and Grand View Research predict the global inference market will reach around $100 billion by 2025, driven by advancements in AI technology and expanding application scenarios. IDC’s forecast places the market at $83.2 billion by the same year, highlighting the broadening of inference application scenarios as a primary growth driver.
RACA AI: A Leader in the Decentralized AI Ecosystem
RACA AI, initiated by the ‘Elon Musk’s Mother & Koda NFT’ community, operates as a crypto ‘dApp Store’ for AI apps and games. With significant backing from OKX Ventures and Consensys Mesh Tachyon, RACA AI has built one of the largest web3 communities. Over the past nine months, it has recorded a trading volume equivalent to 3.7 million units of BNB Coins.
AI platform coins, exemplified by projects like RACA AI, are not just another passing trend. They represent the convergence of cutting-edge AI technology and the decentralized ethos of blockchain. With their ability to capitalize on the latest advancements and capture significant market share, AI coins are set to redefine the landscape of cryptocurrency, offering vast opportunities for innovation, investment, and growth in the coming years.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any AI stocks.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: grandeduc/123RF
The post The New Wave of AI Platform Coins in the Crypto Market and RACA’s Strategic Bet on 4090 GPU Graphics Cards appeared first on The Merkle News.
Over the past 18 months, these coins have demonstrated remarkable resilience and growth, often outperforming even Bitcoin during market fluctuations.
Every minor uptrend in Bitcoin’s price curve sees AI and meme coins not only rise the most but also decline the least during downturns, establishing their status as robust players in the crypto arena.
The Future of AI Applications and Crypto Integration
As artificial intelligence applications mature, they are set to bring significant innovations, drawing increased attention to AI-focused cryptocurrencies. AI coins are unique in that their value is driven largely by narrative, hype, and emotional investment, making them the most potent and dynamic meme coins.
With substantial hot money inflows and numerous opportunities for early miners, these coins are positioned to capture significant market share. Several high-profile projects are pushing the boundaries of decentralized AI and GPU computing power platforms. Notable examples include Depin AI projects, which are expected to attract funding in the tens or even hundreds of billions of dollars. Esteemed institutions like Stanford, MIT, and Oxford are seeing their graduates and professors venture into blockchain to develop these platforms, signaling a promising future for AI in the crypto space.
RACA AI’s Strategic Bet on 4090 GPU Graphics Card
RACA AI has strategically chosen 4090 GPU graphics card to leverage their superior AI compute inference capabilities. This decision is grounded in several compelling reasons:
Optimal Cost-Effectiveness for zk-Proof Compute: 4090 GPUs offer the best cost-effective solution for zk-proof compute, outperforming other models like H100 GPUs, which are often excluded from mining.
Leading Inference Performance: The 4090 GPUs excel in inference tasks, capturing liquidity and narratives from leading blockchain AI compute inference platforms.
Advanced Features: With support for FP8 and superior memory size, the 4090 GPUs can handle unquantified 70B models with ease.
Reliability and Stability: Designed for long-term operation, these GPUs ensure high reliability for continuous AI compute tasks.
Cost-Effectiveness: Offering higher performance at lower costs, the 4090 GPUs are an economical choice for both AI compute inference and zk-proof compute tasks.
The Potential of AI Compute Inference Capabilities
The future of AI applications hinges on large-scale models and innovative inference applications. According to Menlo Ventures, nearly 95% of AI spending is currently on runtime, not pre-training stages. This trend points to a future where efficient deployment and operation of AI models are paramount. As technology advances, companies are adopting optimization techniques to enhance inference efficiency, indicating a significant shift towards flexible and efficient AI applications.
Market research underscores the rapid growth of the AI inference market. Reports from Market Research Future and Grand View Research predict the global inference market will reach around $100 billion by 2025, driven by advancements in AI technology and expanding application scenarios. IDC’s forecast places the market at $83.2 billion by the same year, highlighting the broadening of inference application scenarios as a primary growth driver.
RACA AI: A Leader in the Decentralized AI Ecosystem
RACA AI, initiated by the ‘Elon Musk’s Mother & Koda NFT’ community, operates as a crypto ‘dApp Store’ for AI apps and games. With significant backing from OKX Ventures and Consensys Mesh Tachyon, RACA AI has built one of the largest web3 communities. Over the past nine months, it has recorded a trading volume equivalent to 3.7 million units of BNB Coins.
AI platform coins, exemplified by projects like RACA AI, are not just another passing trend. They represent the convergence of cutting-edge AI technology and the decentralized ethos of blockchain. With their ability to capitalize on the latest advancements and capture significant market share, AI coins are set to redefine the landscape of cryptocurrency, offering vast opportunities for innovation, investment, and growth in the coming years.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any AI stocks.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: grandeduc/123RF
The post The New Wave of AI Platform Coins in the Crypto Market and RACA’s Strategic Bet on 4090 GPU Graphics Cards appeared first on The Merkle News.
$ALICE Token Surges 71% Amid Market Enthusiasm and Strategic Moves
The value of $ALICE has surged by over 71% in the past seven days, breaking through previous resistance levels with impressive “god candles” that reflect the token’s growing strength.
This bullish momentum has seen $ALICE surpass the $2 mark, suggesting a potential rally towards $4 if it maintains this level.
Despite this robust performance, $ALICE faced a temporary setback today. Following the significant price increase, the My Neighbor Alice Vesting wallets deposited 2.09 million $ALICE (valued at $5.44 million) into Binance, leading to a 16% decline in the token’s price.
This influx of tokens into the market likely caused some selling pressure, contributing to the price drop.
The $ALICE price increased by more than 70% today.
After the price increased, the My Neighbor Alice Vesting wallets deposited 2.09M $ALICE ($5.44M) to #Binance.https://t.co/0Lreo6muaD pic.twitter.com/d3ExBaeQxw
— Lookonchain (@lookonchain) June 3, 2024
$ALICE Long Term Holders Stay Strong, Holding Position
Long-term traders, however, remain unfazed by these short-term fluctuations. Approximately 76% of $ALICE holders have maintained their positions for at least a year, indicating a strong belief in the token’s long-term potential and resilience against temporary market dips.
Currently trading at $2.188, $ALICE ’s ability to hold above the $2 mark will be crucial in determining its next move. The dedicated development team behind My Neighbor Alice continues to introduce new features and enhancements, which are likely to support the token’s value and appeal.
As the market watches closely, the next few days will be critical in assessing whether $ALICE can sustain its upward trajectory and possibly reach the anticipated $4 target. Traders and investors will be keenly observing how the token performs in response to market dynamics and ongoing development efforts.
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: tinofotografie/123RF // Image Effects by Colorcinch
The post $ALICE Token Surges 71% Amid Market Enthusiasm And Strategic Moves appeared first on The Merkle News.
This bullish momentum has seen $ALICE surpass the $2 mark, suggesting a potential rally towards $4 if it maintains this level.
Despite this robust performance, $ALICE faced a temporary setback today. Following the significant price increase, the My Neighbor Alice Vesting wallets deposited 2.09 million $ALICE (valued at $5.44 million) into Binance, leading to a 16% decline in the token’s price.
This influx of tokens into the market likely caused some selling pressure, contributing to the price drop.
The $ALICE price increased by more than 70% today.
After the price increased, the My Neighbor Alice Vesting wallets deposited 2.09M $ALICE ($5.44M) to #Binance.https://t.co/0Lreo6muaD pic.twitter.com/d3ExBaeQxw
— Lookonchain (@lookonchain) June 3, 2024
$ALICE Long Term Holders Stay Strong, Holding Position
Long-term traders, however, remain unfazed by these short-term fluctuations. Approximately 76% of $ALICE holders have maintained their positions for at least a year, indicating a strong belief in the token’s long-term potential and resilience against temporary market dips.
Currently trading at $2.188, $ALICE ’s ability to hold above the $2 mark will be crucial in determining its next move. The dedicated development team behind My Neighbor Alice continues to introduce new features and enhancements, which are likely to support the token’s value and appeal.
As the market watches closely, the next few days will be critical in assessing whether $ALICE can sustain its upward trajectory and possibly reach the anticipated $4 target. Traders and investors will be keenly observing how the token performs in response to market dynamics and ongoing development efforts.
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: tinofotografie/123RF // Image Effects by Colorcinch
The post $ALICE Token Surges 71% Amid Market Enthusiasm And Strategic Moves appeared first on The Merkle News.
Speculative Activity Resurges in Bitcoin Market
After months of stagnation and sideways price movement, Bitcoin is starting to show signs of speculative activity once again.
This renewed interest comes on the heels of a false alarm concerning the distribution of Mt. Gox supply, providing a useful lens for analyzing market reactions using on-chain data.
After months of apathy and sideways price action for #Bitcoin, the first glimmers of speculative activity is beginning to re-appear.
The market responded to a false alarm regarding the distribution of Mt.Gox supply, however, this offers a lens into how we can consider these… pic.twitter.com/u7ShEJMdCY
— glassnode (@glassnode) June 4, 2024
To identify periods of robust Bitcoin price performance, we examine the number of trading days within a 90-day window where weekly, monthly, and quarterly gains exceed 20%.
Currently, only 5 of the last 90 days have met this criterion. In previous cycles, this count ranged between 18 and 26 days, indicating that the current market is more measured compared to historical bull runs.
To highlight periods of particularly strong #Bitcoin price performance, we can count the number of trading days within a 90d window where the performance across Weekly, Monthly and Quarterly timeframes exceeds +20%.
As of current, only 5 of the last 90 days have reached this… pic.twitter.com/XzXKEf2wDy
— glassnode (@glassnode) June 3, 2024
Bitcoin ETF Net Inflow Totals $105 Million
On June 3, 2024, the net inflow for Bitcoin ETFs totaled $105 million. This marks the 15th consecutive trading day of positive net inflow, a notable streak.
Among major players, Fidelity (FBTC) led the day with an inflow of $77 million. Meanwhile, Grayscale (GBTC) and BlackRock (IBIT) both reported zero net flow for the day.
🚨 $BTC #ETF Net Inflow June 3, 2024: +$105M!
• The net inflow has been positive for 15 consecutive trading days.
• Both #Grayscale (GBTC) and #BlackRock (IBIT) experienced the single-day net flow of $0.
• The highest inflow of the day belonged to #Fidelity (FBTC) with… pic.twitter.com/z9ILgWNk6Z
— Spot On Chain (@spotonchain) June 4, 2024
This data underscores a growing interest in Bitcoin ETFs, signaling potential bullish sentiment despite the overall measured market activity.
As speculative activities re-emerge, it will be crucial to monitor on-chain data and trading patterns to anticipate further market movements.
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: sinenkiy/123RF // Image Effects by Colorcinch
The post Speculative Activity Resurges In Bitcoin Market appeared first on The Merkle News.
This renewed interest comes on the heels of a false alarm concerning the distribution of Mt. Gox supply, providing a useful lens for analyzing market reactions using on-chain data.
After months of apathy and sideways price action for #Bitcoin, the first glimmers of speculative activity is beginning to re-appear.
The market responded to a false alarm regarding the distribution of Mt.Gox supply, however, this offers a lens into how we can consider these… pic.twitter.com/u7ShEJMdCY
— glassnode (@glassnode) June 4, 2024
To identify periods of robust Bitcoin price performance, we examine the number of trading days within a 90-day window where weekly, monthly, and quarterly gains exceed 20%.
Currently, only 5 of the last 90 days have met this criterion. In previous cycles, this count ranged between 18 and 26 days, indicating that the current market is more measured compared to historical bull runs.
To highlight periods of particularly strong #Bitcoin price performance, we can count the number of trading days within a 90d window where the performance across Weekly, Monthly and Quarterly timeframes exceeds +20%.
As of current, only 5 of the last 90 days have reached this… pic.twitter.com/XzXKEf2wDy
— glassnode (@glassnode) June 3, 2024
Bitcoin ETF Net Inflow Totals $105 Million
On June 3, 2024, the net inflow for Bitcoin ETFs totaled $105 million. This marks the 15th consecutive trading day of positive net inflow, a notable streak.
Among major players, Fidelity (FBTC) led the day with an inflow of $77 million. Meanwhile, Grayscale (GBTC) and BlackRock (IBIT) both reported zero net flow for the day.
🚨 $BTC #ETF Net Inflow June 3, 2024: +$105M!
• The net inflow has been positive for 15 consecutive trading days.
• Both #Grayscale (GBTC) and #BlackRock (IBIT) experienced the single-day net flow of $0.
• The highest inflow of the day belonged to #Fidelity (FBTC) with… pic.twitter.com/z9ILgWNk6Z
— Spot On Chain (@spotonchain) June 4, 2024
This data underscores a growing interest in Bitcoin ETFs, signaling potential bullish sentiment despite the overall measured market activity.
As speculative activities re-emerge, it will be crucial to monitor on-chain data and trading patterns to anticipate further market movements.
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: sinenkiy/123RF // Image Effects by Colorcinch
The post Speculative Activity Resurges In Bitcoin Market appeared first on The Merkle News.
Profit-Taking Hits PEPE: Whale Cashes in
After a surge that put many holders in profit, the price of PEPE has declined by 3% today as traders start to take profits. This shift is marked by a significant transaction from a major whale, who just deposited 365.96 billion PEPE (worth $5.3 million) into Binance.
This whale originally withdrew the same amount of PEPE from MEXC on December 13 and December 16, 2023, when the value was $494,000.
In less than six months, this savvy trader turned a $494,000 investment into $5.3 million, achieving a staggering profit of $4.82 million and an ROI of 976%.
A whale deposited 365.96B $PEPE ($5.3M) into #Binance for profit just now!
He withdrew 365.96B $PEPE ($494K at the time) from #MEXC on Dec 13 and Dec 16, 2023.
He turned $494K into $5.3M in less than 6 months, with a profit of $4.82M and an ROI of 976%!https://t.co/HXCrl0QBxm pic.twitter.com/jeFRd6NyWK
— Lookonchain (@lookonchain) June 4, 2024
Price Decline Hits Memecoin, PEPE
The decline in PEPE’s price comes as no surprise given the substantial profits realized by early investors. As more traders begin to cash in, the market is seeing increased selling pressure, which is impacting the token’s short-term price movement.
Despite this, the long-term outlook for PEPE remains influenced by the broader market trends and the community’s engagement with the token.
PEPE’s recent volatility highlights the risks and rewards inherent in trading meme coins, where rapid gains can quickly lead to significant profit-taking and subsequent price drops. Traders and investors should remain cautious and stay informed about market conditions to navigate these fluctuations effectively.
In summary, while PEPE has experienced a minor pullback due to profit-taking, the impressive returns realized by early adopters underscore the potential opportunities within the cryptocurrency market. As always, vigilance and strategic planning are key to capitalizing on these market dynamics.
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 Profit-Taking Hits PEPE: Whale Cashes In appeared first on The Merkle News.
This whale originally withdrew the same amount of PEPE from MEXC on December 13 and December 16, 2023, when the value was $494,000.
In less than six months, this savvy trader turned a $494,000 investment into $5.3 million, achieving a staggering profit of $4.82 million and an ROI of 976%.
A whale deposited 365.96B $PEPE ($5.3M) into #Binance for profit just now!
He withdrew 365.96B $PEPE ($494K at the time) from #MEXC on Dec 13 and Dec 16, 2023.
He turned $494K into $5.3M in less than 6 months, with a profit of $4.82M and an ROI of 976%!https://t.co/HXCrl0QBxm pic.twitter.com/jeFRd6NyWK
— Lookonchain (@lookonchain) June 4, 2024
Price Decline Hits Memecoin, PEPE
The decline in PEPE’s price comes as no surprise given the substantial profits realized by early investors. As more traders begin to cash in, the market is seeing increased selling pressure, which is impacting the token’s short-term price movement.
Despite this, the long-term outlook for PEPE remains influenced by the broader market trends and the community’s engagement with the token.
PEPE’s recent volatility highlights the risks and rewards inherent in trading meme coins, where rapid gains can quickly lead to significant profit-taking and subsequent price drops. Traders and investors should remain cautious and stay informed about market conditions to navigate these fluctuations effectively.
In summary, while PEPE has experienced a minor pullback due to profit-taking, the impressive returns realized by early adopters underscore the potential opportunities within the cryptocurrency market. As always, vigilance and strategic planning are key to capitalizing on these market dynamics.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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The post Profit-Taking Hits PEPE: Whale Cashes In appeared first on The Merkle News.
Algorand: a High-Performance, Eco-Friendly Blockchain With Strong Fundamentals
Algorand has carved a niche among Layer 1 blockchains by offering high capacity, rapid finality, low transaction fees, and a commitment to being carbon-neutral.
This positions it as a formidable contender in the blockchain ecosystem, supported by impressive usage metrics and user confidence.
Active User Base and Network Growth
Algorand boasts over 54,000 daily active addresses, surpassing the activity levels of networks like Dogecoin (52,000) and Avalanche (48,000).
This ranks Algorand fifth among the top protocols in terms of active users. The network has over 21 million addresses with a balance, reflecting gradual and consistent growth.
Let’s Take a Look at Algorand
Algorand distinguishes itself from other Layer 1 blockchains with its high capacity, fast finality, low fees, and carbon-neutral approach.
Here’s What's Happening On-Chain👇 pic.twitter.com/wfZsf5vHeZ
— IntoTheBlock (@intotheblock) June 3, 2024
Transaction Activity
Transaction volume on Algorand has seen a substantial increase, doubling compared to late 2023. The current 7-day average is 1.36 million transactions per day.
Notably, 96.43% of these transactions are under $1, indicating high usage for automated transactions and smart contract interactions. Algorand’s transaction fee of just 0.001 $ALGO makes it an economical choice for conducting a large volume of transactions.
Holder Patterns and Market Confidence
On average, $ALGO tokens are held for nearly 11 months, which is longer than Avalanche’s 5.9 months but slightly less than Cardano’s average of one year. This long holding period suggests a high degree of confidence among investors.
Furthermore, large holders possess 20.7% of the total supply, up from 19.4% in May. This ongoing accumulation by significant stakeholders is a positive sign for the network’s growth and potential price appreciation.
Despite these positive indicators, the majority of $ALGO holders are currently at a loss, with only 9% in profit at current prices. This reflects slower price development, despite strong network fundamentals.
Conclusion
Algorand’s strong fundamentals, including a growing active user base, increasing transaction activity, and confidence from large holders, highlight its potential.
However, the slow price growth means that most holders are currently at a loss. Nonetheless, Algorand’s unique features and consistent development efforts indicate a promising future for the network.
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!
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The post Algorand: A High-Performance, Eco-Friendly Blockchain With Strong Fundamentals appeared first on The Merkle News.
This positions it as a formidable contender in the blockchain ecosystem, supported by impressive usage metrics and user confidence.
Active User Base and Network Growth
Algorand boasts over 54,000 daily active addresses, surpassing the activity levels of networks like Dogecoin (52,000) and Avalanche (48,000).
This ranks Algorand fifth among the top protocols in terms of active users. The network has over 21 million addresses with a balance, reflecting gradual and consistent growth.
Let’s Take a Look at Algorand
Algorand distinguishes itself from other Layer 1 blockchains with its high capacity, fast finality, low fees, and carbon-neutral approach.
Here’s What's Happening On-Chain👇 pic.twitter.com/wfZsf5vHeZ
— IntoTheBlock (@intotheblock) June 3, 2024
Transaction Activity
Transaction volume on Algorand has seen a substantial increase, doubling compared to late 2023. The current 7-day average is 1.36 million transactions per day.
Notably, 96.43% of these transactions are under $1, indicating high usage for automated transactions and smart contract interactions. Algorand’s transaction fee of just 0.001 $ALGO makes it an economical choice for conducting a large volume of transactions.
Holder Patterns and Market Confidence
On average, $ALGO tokens are held for nearly 11 months, which is longer than Avalanche’s 5.9 months but slightly less than Cardano’s average of one year. This long holding period suggests a high degree of confidence among investors.
Furthermore, large holders possess 20.7% of the total supply, up from 19.4% in May. This ongoing accumulation by significant stakeholders is a positive sign for the network’s growth and potential price appreciation.
Despite these positive indicators, the majority of $ALGO holders are currently at a loss, with only 9% in profit at current prices. This reflects slower price development, despite strong network fundamentals.
Conclusion
Algorand’s strong fundamentals, including a growing active user base, increasing transaction activity, and confidence from large holders, highlight its potential.
However, the slow price growth means that most holders are currently at a loss. Nonetheless, Algorand’s unique features and consistent development efforts indicate a promising future for the network.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: benedak/123RF // Image Effects by Colorcinch
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$GME Token on Solana Surges Over 300% Following @TheRoaringKitty’s Post
The price of $GME on Solana has skyrocketed by more than 300% after a recent post by @TheRoaringKitty, a prominent figure in the GameStop trading community.
This surge in price has triggered the limit order of a savvy trader, who sold 3.5 million $GME for 260 $SOL , valued at approximately $43,000, at a price of $0.01226 per token.
This trader has demonstrated a keen ability to buy $GME at low prices and sell at highs, capitalizing on market movements effectively.
Despite selling a significant amount, the trader still holds 108 million $GME, worth about $1.5 million, with an estimated total profit of around $1.37 million.
Since @TheRoaringKitty posted again, the price of $GME on #Solana has risen by more than 300%.
The limit order of this smart trader has been triggered, selling 3.5M $GME for 260 $SOL ($43K) at $0.01226.
This smart trader is good at buying $GME at low prices and selling at highs!… pic.twitter.com/WyubApyLq9
— Lookonchain (@lookonchain) June 3, 2024
$GME Trading Volume Spikes Over 1,500% In The Last 24 Hours
In addition to the price increase, $GME trading volume on Solana has spiked by an astonishing 1500% in the past 24 hours, reflecting heightened market activity and interest in the token.
This remarkable growth highlights the influence of social media personalities on cryptocurrency markets and the importance of strategic trading.
As $GME continues to attract attention, traders and investors will be closely monitoring its performance to capitalize on future opportunities.
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: loft39studio/123RF // Image Effects by Colorcinch
The post $GME Token On Solana Surges Over 300% Following @TheRoaringKitty’s Post appeared first on The Merkle News.
This surge in price has triggered the limit order of a savvy trader, who sold 3.5 million $GME for 260 $SOL , valued at approximately $43,000, at a price of $0.01226 per token.
This trader has demonstrated a keen ability to buy $GME at low prices and sell at highs, capitalizing on market movements effectively.
Despite selling a significant amount, the trader still holds 108 million $GME, worth about $1.5 million, with an estimated total profit of around $1.37 million.
Since @TheRoaringKitty posted again, the price of $GME on #Solana has risen by more than 300%.
The limit order of this smart trader has been triggered, selling 3.5M $GME for 260 $SOL ($43K) at $0.01226.
This smart trader is good at buying $GME at low prices and selling at highs!… pic.twitter.com/WyubApyLq9
— Lookonchain (@lookonchain) June 3, 2024
$GME Trading Volume Spikes Over 1,500% In The Last 24 Hours
In addition to the price increase, $GME trading volume on Solana has spiked by an astonishing 1500% in the past 24 hours, reflecting heightened market activity and interest in the token.
This remarkable growth highlights the influence of social media personalities on cryptocurrency markets and the importance of strategic trading.
As $GME continues to attract attention, traders and investors will be closely monitoring its performance to capitalize on future opportunities.
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: loft39studio/123RF // Image Effects by Colorcinch
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JASMY Coin Surge and DWF Labs’ Strategic Moves
In the past week, JASMY Coin has experienced a remarkable surge of 40%, extending its gains to an impressive 88% over the past month.
This bullish trend has attracted significant attention, particularly from DWF Labs, which recently deposited another 12 million JASMY ($461,000) to Binance at $0.03845 per token.
Over the last three days, DWF Labs has been actively unloading JASMY on Binance, depositing a total of 97 million JASMY ($3.3 million).
This strategic unloading has been consistent, with the last transaction occurring just 12 hours ago. Each deposit by DWF Labs has led to a short-term price drop, indicating a possible influence on the market dynamics of JASMY.
#DWFLabs has deposited 97M $JASMY ($3.3M) to #Binance in the past 3 days!
• DWF Labs unloaded $JASMY daily for the past 3 days (last txn was 12 hours ago).• There was a short-term price drop after each deposit ⚠️.• Current holding: 24M $JASMY ($841K).• Est. total profit:… https://t.co/QbwtTcHE0H pic.twitter.com/H2jYfFLUxV
— Spot On Chain (@spotonchain) June 3, 2024
DWF Labs Still Holds 24 Million JASMY Token
Despite these fluctuations, DWF Labs’ holdings remain substantial. The firm currently holds 24 million JASMY, valued at approximately $841,000. Their strategic transactions have resulted in an estimated total profit of $9.49 million, reflecting a remarkable 307% gain.
The recent activities of DWF Labs highlight the significant impact large-scale transactions can have on cryptocurrency prices, particularly in short-term scenarios.
As JASMY continues to gain traction, market participants will be closely monitoring such influential players and their trading patterns to anticipate future price movements.
Overall, the surge in JASMY Coin and the active trading by DWF Labs underscore the dynamic and often volatile nature of the cryptocurrency market. Investors and traders need to stay vigilant and informed about such developments to navigate the market effectively.
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: iloveotto/123RF // Image Effects by Colorcinch
The post JASMY Coin Surge And DWF Labs’ Strategic Moves appeared first on The Merkle News.
This bullish trend has attracted significant attention, particularly from DWF Labs, which recently deposited another 12 million JASMY ($461,000) to Binance at $0.03845 per token.
Over the last three days, DWF Labs has been actively unloading JASMY on Binance, depositing a total of 97 million JASMY ($3.3 million).
This strategic unloading has been consistent, with the last transaction occurring just 12 hours ago. Each deposit by DWF Labs has led to a short-term price drop, indicating a possible influence on the market dynamics of JASMY.
#DWFLabs has deposited 97M $JASMY ($3.3M) to #Binance in the past 3 days!
• DWF Labs unloaded $JASMY daily for the past 3 days (last txn was 12 hours ago).• There was a short-term price drop after each deposit ⚠️.• Current holding: 24M $JASMY ($841K).• Est. total profit:… https://t.co/QbwtTcHE0H pic.twitter.com/H2jYfFLUxV
— Spot On Chain (@spotonchain) June 3, 2024
DWF Labs Still Holds 24 Million JASMY Token
Despite these fluctuations, DWF Labs’ holdings remain substantial. The firm currently holds 24 million JASMY, valued at approximately $841,000. Their strategic transactions have resulted in an estimated total profit of $9.49 million, reflecting a remarkable 307% gain.
The recent activities of DWF Labs highlight the significant impact large-scale transactions can have on cryptocurrency prices, particularly in short-term scenarios.
As JASMY continues to gain traction, market participants will be closely monitoring such influential players and their trading patterns to anticipate future price movements.
Overall, the surge in JASMY Coin and the active trading by DWF Labs underscore the dynamic and often volatile nature of the cryptocurrency market. Investors and traders need to stay vigilant and informed about such developments to navigate the market effectively.
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: iloveotto/123RF // Image Effects by Colorcinch
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Grayscale Allegedly Sells 5,812 ETH, Possibly for Ethereum Trust Management Fees
In a significant development, Grayscale has reportedly commissioned Flow Traders to sell 5,812 ETH, valued at approximately $21.75 million.
This move is speculated to be for covering the management fees of the Ethereum Trust Fund.
Grayscale imposes a 2.5% annual management fee on the Ethereum Trust (ETHE).
With the current holdings standing at 2.97 million ETH, this fee structure generates an impressive revenue of 74,000 ETH annually, equating to about $280 million. Such a substantial income highlights the lucrative nature of managing the ETHE.
https://x.com/ai_9684xtpa/status/1796482220049518603?t=7-EbnQ68eUVB8p3FiMaUVQ&s=19
Grayscale Has Transferred 34,270 ETH Since July Last Year
Since July 2023, Grayscale has transferred 34,270 ETH to Flow Traders, valued at $88.22 million. Based on their past operations, it is anticipated that these transferred ETH will be gradually recharged to various exchanges over the coming days.
This strategy of transferring ETH to Flow Traders and subsequently distributing them across exchanges indicates a methodical approach by Grayscale to manage liquidity and ensure smooth operations.
The consistent revenue from management fees underscores the profitable business model Grayscale employs within the cryptocurrency space.
Grayscale’s recent actions and financial strategies provide a glimpse into the operational mechanics of one of the largest crypto asset managers.
The company’s ability to generate significant revenue through management fees, coupled with its methodical approach to liquidity management, underscores its influential position in 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: jruiz1108/123RF // Image Effects by Colorcinch
The post Grayscale Allegedly Sells 5,812 ETH, Possibly For Ethereum Trust Management Fees appeared first on The Merkle News.
This move is speculated to be for covering the management fees of the Ethereum Trust Fund.
Grayscale imposes a 2.5% annual management fee on the Ethereum Trust (ETHE).
With the current holdings standing at 2.97 million ETH, this fee structure generates an impressive revenue of 74,000 ETH annually, equating to about $280 million. Such a substantial income highlights the lucrative nature of managing the ETHE.
https://x.com/ai_9684xtpa/status/1796482220049518603?t=7-EbnQ68eUVB8p3FiMaUVQ&s=19
Grayscale Has Transferred 34,270 ETH Since July Last Year
Since July 2023, Grayscale has transferred 34,270 ETH to Flow Traders, valued at $88.22 million. Based on their past operations, it is anticipated that these transferred ETH will be gradually recharged to various exchanges over the coming days.
This strategy of transferring ETH to Flow Traders and subsequently distributing them across exchanges indicates a methodical approach by Grayscale to manage liquidity and ensure smooth operations.
The consistent revenue from management fees underscores the profitable business model Grayscale employs within the cryptocurrency space.
Grayscale’s recent actions and financial strategies provide a glimpse into the operational mechanics of one of the largest crypto asset managers.
The company’s ability to generate significant revenue through management fees, coupled with its methodical approach to liquidity management, underscores its influential position in 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: jruiz1108/123RF // Image Effects by Colorcinch
The post Grayscale Allegedly Sells 5,812 ETH, Possibly For Ethereum Trust Management Fees appeared first on The Merkle News.
Traders Beware: Caitlyn Jenner’s Meme Coin Ventures on Solana
Traders are being cautioned to exercise vigilance when dealing with tokens promoted or launched by celebrities.
A recent report from Lookonchain revealed that Caitlyn Jenner has earned 2,381 $SOL (approximately $405,000) by launching twelve meme coins on the Solana blockchain over the past four days.
On May 27, Caitlyn Jenner (@Caitlyn_Jenner on Twitter) launched a token named $jenner, initially purchasing 44.56 million $jenner tokens for 1.3 $SOL ($221) on Pump.fun. She later sold these tokens for 253 $SOL , making a profit of 252 $SOL ($43,000).
Be wary of tokens launched by celebrities.🚨
We fund that @Caitlyn_Jenner earned 2,381 $SOL ($405K) by launching 12 #MEMEcoins on #Solana in the past 4 days.
1/ A thread. 🧵 pic.twitter.com/zqVaMjhjqf
— Lookonchain (@lookonchain) May 31, 2024
The profits were then transferred to two addresses, one of which, “85feY8…soLxYd,” is a Binance deposit address. Over the past four days, multiple addresses have sent $SOL to this same Binance deposit address, indicating that these addresses were likely created by Jenner.
2,381 SOL Made From Selling Off Memecoins
Further tracking revealed that Caitlyn Jenner had set up numerous new addresses and launched twelve different meme coins. She then bought these meme coins herself and sold them for profit. The total profit from these activities is around 2,381 $SOL ($405,000).
Jenner’s lack of effort to disguise her activities became evident as she transferred all profits to the same Binance deposit address. This pattern highlights the need for traders to be cautious, as celebrities might use their influence to promote and profit from newly launched tokens, potentially leaving unsuspecting investors at a loss.
The crypto community is advised to thoroughly research and verify the authenticity and credibility of any new token, especially those tied to high-profile individuals, to avoid falling prey to potentially manipulative schemes.
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: angrysun/123RF // Image Effects by Colorcinch
The post Traders Beware: Caitlyn Jenner’s Meme Coin Ventures On Solana appeared first on The Merkle News.
A recent report from Lookonchain revealed that Caitlyn Jenner has earned 2,381 $SOL (approximately $405,000) by launching twelve meme coins on the Solana blockchain over the past four days.
On May 27, Caitlyn Jenner (@Caitlyn_Jenner on Twitter) launched a token named $jenner, initially purchasing 44.56 million $jenner tokens for 1.3 $SOL ($221) on Pump.fun. She later sold these tokens for 253 $SOL , making a profit of 252 $SOL ($43,000).
Be wary of tokens launched by celebrities.🚨
We fund that @Caitlyn_Jenner earned 2,381 $SOL ($405K) by launching 12 #MEMEcoins on #Solana in the past 4 days.
1/ A thread. 🧵 pic.twitter.com/zqVaMjhjqf
— Lookonchain (@lookonchain) May 31, 2024
The profits were then transferred to two addresses, one of which, “85feY8…soLxYd,” is a Binance deposit address. Over the past four days, multiple addresses have sent $SOL to this same Binance deposit address, indicating that these addresses were likely created by Jenner.
2,381 SOL Made From Selling Off Memecoins
Further tracking revealed that Caitlyn Jenner had set up numerous new addresses and launched twelve different meme coins. She then bought these meme coins herself and sold them for profit. The total profit from these activities is around 2,381 $SOL ($405,000).
Jenner’s lack of effort to disguise her activities became evident as she transferred all profits to the same Binance deposit address. This pattern highlights the need for traders to be cautious, as celebrities might use their influence to promote and profit from newly launched tokens, potentially leaving unsuspecting investors at a loss.
The crypto community is advised to thoroughly research and verify the authenticity and credibility of any new token, especially those tied to high-profile individuals, to avoid falling prey to potentially manipulative schemes.
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: angrysun/123RF // Image Effects by Colorcinch
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Celebrity Meme Coins Flood the Crypto Market, Yielding Both Fortunes and Losses
The crypto market has recently seen an influx of celebrity meme coins, with the trend kicking off on the Solana network using the JENNER ticker.
Olympian and media personality Caitlyn Jenner began aggressively promoting this cryptocurrency on X shortly after its inception, which led to concerns that her account might have been compromised.
This guy made $488K in less than 5 hours by trading celebrity tokens $Jenner, a gain of 130x!
He spent 1 $ETH($3,762) to snip 429.28M $Jenner(43% of the total supply) on #Ethereum and sold 393M $Jenner for 89 $ETH($338K).
He currently has 36.3M $Jenner($150K) left.… pic.twitter.com/7hTVKSjUtB
— Lookonchain (@lookonchain) May 30, 2024
According to on-chain data from Lookonchain, one trader made a staggering $488,000 in less than five hours by trading celebrity tokens $Jenner, achieving a remarkable gain of 130 times their initial investment.
This trader spent 1 ETH ($3,762) to acquire 429.28 million $Jenner tokens (representing 43% of the total supply) on Ethereum. They then sold 393 million of these tokens for 89 ETH ($338,000) and currently hold 36.3 million $Jenner tokens, valued at $150,000.
Many traders lost money by trading the celebrity token $jenner on #Solana, even the trader who previously made $3.7M in 5 days on $BOME .
This trader spent 2,620 $SOL to buy $BOME and sold it for 21,159 $SOL, making 18,539 $SOL($3.7M) on $BOME in 5 days.
Then he spent 1,208 $SOL… pic.twitter.com/qzytwOOhAo
— Lookonchain (@lookonchain) May 30, 2024
Some Losses Recorded In These Celebrity Tokens
However, the venture into celebrity tokens has not been profitable for everyone. Many traders faced losses while trading the $Jenner token on Solana. This includes a trader who had previously made $3.7 million in five days by trading the $BOME token.
This trader initially spent 2,620 SOL to buy $BOME and sold it for 21,159 SOL, making a profit of 18,539 SOL ($3.7 million).
Encouraged by this success, the same trader invested 1,208 SOL to buy $Jenner but could only sell it for 423 SOL, suffering a loss of 785 SOL ($133,400) within just one day.
This scenario underscores the volatile nature of meme coins, particularly those backed by celebrity endorsements. While some traders manage to achieve extraordinary gains, others can incur significant losses. As always in the crypto market, careful consideration and risk management are crucial.
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: kebox/123RF // Image Effects by Colorcinch
The post Celebrity Meme Coins Flood The Crypto Market, Yielding Both Fortunes And Losses appeared first on The Merkle News.
Olympian and media personality Caitlyn Jenner began aggressively promoting this cryptocurrency on X shortly after its inception, which led to concerns that her account might have been compromised.
This guy made $488K in less than 5 hours by trading celebrity tokens $Jenner, a gain of 130x!
He spent 1 $ETH($3,762) to snip 429.28M $Jenner(43% of the total supply) on #Ethereum and sold 393M $Jenner for 89 $ETH($338K).
He currently has 36.3M $Jenner($150K) left.… pic.twitter.com/7hTVKSjUtB
— Lookonchain (@lookonchain) May 30, 2024
According to on-chain data from Lookonchain, one trader made a staggering $488,000 in less than five hours by trading celebrity tokens $Jenner, achieving a remarkable gain of 130 times their initial investment.
This trader spent 1 ETH ($3,762) to acquire 429.28 million $Jenner tokens (representing 43% of the total supply) on Ethereum. They then sold 393 million of these tokens for 89 ETH ($338,000) and currently hold 36.3 million $Jenner tokens, valued at $150,000.
Many traders lost money by trading the celebrity token $jenner on #Solana, even the trader who previously made $3.7M in 5 days on $BOME .
This trader spent 2,620 $SOL to buy $BOME and sold it for 21,159 $SOL, making 18,539 $SOL($3.7M) on $BOME in 5 days.
Then he spent 1,208 $SOL… pic.twitter.com/qzytwOOhAo
— Lookonchain (@lookonchain) May 30, 2024
Some Losses Recorded In These Celebrity Tokens
However, the venture into celebrity tokens has not been profitable for everyone. Many traders faced losses while trading the $Jenner token on Solana. This includes a trader who had previously made $3.7 million in five days by trading the $BOME token.
This trader initially spent 2,620 SOL to buy $BOME and sold it for 21,159 SOL, making a profit of 18,539 SOL ($3.7 million).
Encouraged by this success, the same trader invested 1,208 SOL to buy $Jenner but could only sell it for 423 SOL, suffering a loss of 785 SOL ($133,400) within just one day.
This scenario underscores the volatile nature of meme coins, particularly those backed by celebrity endorsements. While some traders manage to achieve extraordinary gains, others can incur significant losses. As always in the crypto market, careful consideration and risk management are crucial.
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: kebox/123RF // Image Effects by Colorcinch
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