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Justin Sun Trying to Save Bitcoin: He Gave a Blank Check to Germany
Tron ($TRX ) founder Justin Sun gave the German government a blank check for Bitcoin. Justin Sun wants to buy the coins held by the German government in order to relieve the selling pressure on Bitcoin.
Germany seized tens of thousands of Bitcoins on illegal platforms as a result of operations carried out in recent months. German authorities have sent tens of millions of dollars worth of Bitcoin to cryptocurrency exchanges throughout this week, including today.
Arkham CEO said that Bitcoin is generally sent to central cryptocurrency exchanges with the intention of selling. Justin Sun stated, “I am ready to negotiate with the German government to buy all $BTC off the market in order to minimize its impact on the market.” According to Arkham data, the German government still has 40,359 Bitcoins worth $2.33 billion in its wallet, despite the coins it has recently disposed of.
The transactions made by #Germany have recently led to an increase in the sales pressure on #Bitcoin . According to CoinGecko data, Bitcoin fell below $58,000 today. According to Bitcoin Treasuries data, Germany has one of the largest Bitcoin wallets among states. Germany is on the list behind the USA, China, the UK and Ukraine.
$40 Million Ethereum Whale Will Lose If Price Drops to This Point!
An altcoin whale is at risk of liquidation due to the decline across the cryptocurrency market. According to a post by blockchain analysis platform Lookonchain, a whale who has taken a long position in Ethereum (ETH) will lose his position if the price drops by a few hundred dollars.
According to Lookonchain data, this whale deposited 12 thousand 734 Ethereum ($40 million) in Compound. He then borrowed $31.4 million worth of stablecoins. Compound allows users to borrow against underlying assets using crypto assets as collateral. USD Coin (USDC) is used as the base asset on the Ethereum-based platform. If the Ethereum price drops to $2,984, this whale's position will be liquid.
Ethereum price is falling along with many other cryptocurrencies on the market, including Bitcoin. According to CoinGecko data, the ETH price dropped by 4.9% in the last 24 hours and fell to $ 3,137.
According to Coinglass data, during this period, a total of 293.9 million dollars worth of positions were liquidated in the market, of which 259 million dollars were formed in long positions.
During Bitcoin Crash, Solana-Based Meme Coin Gained $1.24 Million for the Whale.
While the cryptocurrency market fluctuates, not all investors experience losses. Although Bitcoin's decline has caused serious declines in the portfolios of many investors, some investors are successfully managing this difficult period. An example of this is when an investor turned a small investment in a Solana-based meme coin into a fortune.
On July 4, on-chain data account Lookonchain highlighted a notable transaction. An investor purchased Michi, a meme coin on the Solana blockchain, for approximately 1.34 million USDC. This sale price was $0.1557 per Michi and brought the investor a serious profit of $1.24 million. This significant gain demonstrates the investor's adeptness at timing the market and identifying high-reward opportunities.
The investor began this profitable venture by spending approximately $103,000 between April 8 and April 15. With this amount, he purchased 578 #Solana (SOL) coins and exchanged them for 8.6 million Michi at a cost of $0.01186 per coin. When Michi's value peaked, the investment was worth an estimated $5 million, demonstrating how strategic investments can generate high returns in non-traditional crypto assets.
This example highlights the importance of market analysis and strategic planning by highlighting the huge profits achieved with a relatively modest investment. The general decline in major cryptocurrencies like Bitcoin has led investors to alternatives such as meme coins, which are high-risk, high-reward assets. These assets can fluctuate, but can offer big returns for those who can manage their unpredictability.
As a result, while the overall crypto market is experiencing difficult times, significant profit opportunities still exist in niche sectors such as meme coins. This investor's $1.24 million profit from a meme coin demonstrates the value of strategic investments and market diversification. $BTC $SOL
Bitcoin fell more than 2 percent on July 4 as a key support level was retested for the first time since October 2023. Edwards, along with data from on-chain analytics company Glassnode, stated that Bitcoin has seen significant selling pressure throughout the year.
According to market data, BTC fell to $57,885 after the last daily close. Mt. The fear created by Gox and the sales from spot markets shook Bitcoin bulls. According to data from CoinGlass, 24-hour Bitcoin long liquidations are at the level of $ 230 million. Evaluating the recent price movement, popular trader Skew stated that BTC/USD surpassed its 200-day moving average (MA) for the first time in 10 months.
Skew said the following in part of an article in X: “The sale at around $63.8 thousand reversed the momentum and led to a major decline. We need to see investors' appetite and an upward turn. “Otherwise, volatility and momentum will increase downward.” Edwards, along with data from on-chain analytics company Glassnode, argued that Bitcoin has seen significant selling pressure throughout the year. United States spot Bitcoin exchange-traded funds (ETFs), launched in January, were unable to absorb this decline.
“This is why I haven't seen a clear rise,” Edwards told his followers. Saylor, Michael Dell, ETFs. "All of this was in vain," he said. BTC, which has been in a downward trend for a while, is affected by spot ETFs, the German government and Mt. Gox took a big hit with its agenda. Since the majority of crypto investors focused on altcoins, the losses were naturally high.
PEPE Investor, Who Increased 45 Thousand Dollars to 26 Million Dollars, is Back!
The whale, which earned tens of millions of dollars thanks to PEPE, one of the most popular meme coins, returned after months.
According to the post of blockchain analysis platform Spot On Chain, an altcoin investor named dimethyltryptamine.eth returned after not making any transactions with PEPE for 10 months.
According to Spot On Chain's post, the whale sold 10 billion PEPE in exchange for 32.73 Ethereum (ETH) last night. The investor earned approximately 112 thousand dollars in dollar terms.
PEPE, an Ethereum-based token, is the third biggest name in the meme coin category, according to CoinGecko data. In front of him are Dogecoin and Shiba Inu.
The return of the whale increased the selling pressure on PEPE. PEPE price dropped 5.9% in the last 24 hours to $0.00001077 .
According to past transaction records, this name was one of the names that invested in #PEPE in the early periods when it entered the market.
The name, which invested only 45 thousand dollars in PEPE, obtained a total of 26.7 million dollars with the increase in the price of the meme coin.
According to Spot On Chain data, there is still 1.99 trillion PEPE worth $21.4 million in the investor's wallet. In addition, he holds $697 thousand worth of WOJAK tokens.
Signal came from Joe Biden: That memecoin increased by 250 percent!
A Kamala Harris-themed memecoin gained nearly 250 percent on Thursday as pressure grew for U.S. President Joe Biden to drop out of the presidential race.
A Kamala Harris-themed memecoin gained nearly 250 percent on Thursday as pressure grew for U.S. President Joe Biden to drop out of the presidential race.
After the debate between US President Joe Biden and Donald Trump, allegations that he will withdraw from the presidential debate have increased.
The market cap of Kamala Horris (KAMA), a deliberately misspelled Solana based memecoin marketed with a poorly drawn caricature of the US vice president, rose from around $3.5 million to around $11.9 million at the time of the controversy on June 27, according to Dex Screener. It went up to a million dollars. The token has fallen slightly from its $22.2 million market cap peak reached on July 3.
According to Reuters' news dated July 3, it was stated that she was the first choice to replace Harris if Biden withdrew from the re-election race, and it was based on seven high-level sources from the Biden campaign, the White House and the Democratic National Committee who are familiar with the current debates.
Meanwhile, Jeo Boden (BODEN) has fallen by more than 22 percent in the last 24 hours and by 73.4% in the last week, according to CoinGecko.
KAMA's rise and BODEN's retreat followed the Biden-Trump debate on June 27. Political analysts noted Biden's poor performance in the debate due to his hoarse tone of voice and loss of flow of thought at times.
Biden, 81, became the oldest person to run for president and said his performance was down to a cold, over-preparation and jet lag, even though the debate was held in Atlanta in the same time period the week before.
🧙♂️ The Russian government plans to officially legalize stablecoins in international transactions to facilitate cross-border payments for Russian companies.
#Ethereum continues to be a significant player, earning $2.728 billion in fee income over the past year. This performance underlines its critical role in the decentralized finance (#DeFi ) space
Fetch.AI and #SingularityNET are leading the integration of #AI with blockchain technology. Fetch.AI aims to create autonomous digital economies, while SingularityNET is building a global AI marketplace
Despite recent price drops, retail interest in #Bitcoin has hit a four-month high. Standard Chartered predicts that #Bitcoin could reach $100,000 by November
New meme coins such as #Pepe Unchained, WienerAI, and PlayDoge are making waves. #Pepe Unchained is gaining attention for its innovative Layer 2 blockchain, which offers high-speed transactions and significant staking rewards WienerAI, an AI-powered meme coin, has raised nearly $7 million in its presale due to its upcoming trading bot that promises profitable trading opportunities #PlayDoge combines the Doge meme with a play-to-earn mobile game, raising over $5 million in its presale
Good News for These 5 Altcoins from Bitcoin Exchange Binance!
Binance, the world's largest cryptocurrency exchange, has increased the number of altcoins in its credit ecosystem again as of today. The popular exchange, which adds new products to its credit ecosystem from time to time, shared that it has added 5 more altcoins today.
The products that Binance adds to the credit ecosystem can exhibit more successful performances as the process progresses. Here is the announcement shared by Binance on the subject:
Binance added 0x ($ZRX ), Chromia ($CHR ), Raydium ($RAY ), Renzo (#REZ ), and Tellor Tributes (TRB) as loanable assets to Binance Flexible Loans.
Users can browse our website for a complete list of loanable and secured assets with the latest interest rates.
Binance Flexible Loan is an isolated open-term loan service that allows users to complete loan orders while collateralizing cryptocurrencies in their existing subscriptions.
Thanks to Flexible Loan, users can borrow cryptocurrencies without committing to a specific loan term and earn rewards at the same time. #Binance VIP Loan is a loan service provided to institutional investors with competitive rates.
Whale Darkened as Bitcoin Falled: Collected Tens of Millions of Dollars
While there were sharp declines in Bitcoin and cryptocurrencies, a corporate whale made a purchase of $ 70 million.
While there were sharp declines in Bitcoin and cryptocurrencies in general, the corporate whale took the opportunity to make purchases as the BTC price approached 60 thousand dollars.
According to a post by on-chain data and analysis account Lookonchain on July 3, corporate whales are evaluating the decline.
The corporate whale in question purchased 1,162 Bitcoins worth $69.56 million. At the same time, a new wallet withdrew the same amount, 1,162 BTC, from Binance. Among the notable points were that both wallets were created 6 days ago and tested transactions with Binance.
On the other hand, today, according to Blockchain records, an investor sold more than 2 thousand Bitcoins. The investor first disposed of 1,023 and then 141.2 Bitcoins in separate transactions.
According to CoinGecko data, #Bitcoin is trading at $60,301 at the time of writing.
Solana-Based Platform Breaks Record Thanks to Meme Coin Trend
Solana-based marketplace Pump.fun has surpassed the #Ethereum ecosystem for the first time thanks to the meme coin trend.
Meme coins supported by or designed for famous names have attracted great attention from investors in recent weeks.
Especially since the end of May, names such as Caitlyn Jenner, Iggy Azalea, Trippie Redd, Davido have been supporting Solana-based meme coin projects.
Pump.fun, which allows people to easily create their own tokens, generated $2 million in revenue in one day due to this trend. On the same day, $1.91 million in transaction fees were collected in Ethereum.
Solana-based Pump.fun thus became the platform that generates the most daily revenue among all blockchains and applications.
In March, it was estimated that Pump.fun would generate $66 million in annual revenue. However, the platform has already generated a total of $50.9 million in revenue. If this trend continues, it may exceed expectations.
With celebrities entering the market, the number of people creating their own tokens has increased. According to Dune Analytics data, 11,528 tokens were created on Pump.fun on Tuesday. Thus, the total number of tokens increased to 1,199,685.
Many people prefer Solana because it has lower transaction fees compared to #Ethereum