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Solana’s Leading Memecoin Dogwifhat Plummets 13% Today, 24% Weekly Drop Amid Whale Activity
Dogwifhat ($WIF ), one of the largest memecoins on the Solana network, has experienced a significant decline, dropping by 13% in a single day and 24% over the course of the week.
This downturn comes as Lookonchain data reveals a substantial sell-off by a notable whale following the market slump.
The whale, known for their shrewd maneuvers in the memecoin space, capitalized on various tokens, including $WIF , $POPCAT, $WEN, and $Hobbes.
Their trading prowess is evident in the impressive profits amassed across these assets, with gains ranging from 144% to a staggering 1658%.
A whale dumped 1.22M $WIF for 3.13M $USDC at $2.56 after the market drop!
This whale is very smart, earning:
$20.78M(+1572%) on $WIF $2.21M(+285%) on $POPCAT$474K(+144%) on $WEN$255K(+1658%) on $Hobbes
1/ Let's dig into his trades.👇 pic.twitter.com/ZNTNivdIpy
— Lookonchain (@lookonchain) April 13, 2024
Whale Activity On Solana Top Memecoins
In the case of $WIF , the whale initiated strategic buy and sell actions, purchasing 8.67 million tokens at an average price of $0.15 and subsequently offloading 1.67 million tokens at an average price of $1.93.
Despite the recent market downturn, the whale still holds 7 million $WIF , with a total profit of $20.78 million, marking an impressive increase of 1572%.
Similarly, the whale’s ventures into $POPCAT, $WEN, and $Hobbes have yielded substantial returns. Notably, their swift transaction in $Hobbes resulted in a remarkable profit of $255,000, representing a staggering 1658% increase in just one day.
The whale’s trading activity underscores the volatility and potential profitability of the memecoin market, where swift price movements can offer lucrative opportunities for astute investors.
As $WIF and other memecoins continue to navigate market fluctuations, the actions of prominent traders like this whale serve as a reminder of the dynamic nature of cryptocurrency trading and the importance of strategic decision-making in maximizing returns.
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: vasilyrosca/123RF // Image Effects by Colorcinch
The post Solana’s Leading Memecoin Dogwifhat Plummets 13% Today, 24% Weekly Drop Amid Whale Activity appeared first on The Merkle News.
This downturn comes as Lookonchain data reveals a substantial sell-off by a notable whale following the market slump.
The whale, known for their shrewd maneuvers in the memecoin space, capitalized on various tokens, including $WIF , $POPCAT, $WEN, and $Hobbes.
Their trading prowess is evident in the impressive profits amassed across these assets, with gains ranging from 144% to a staggering 1658%.
A whale dumped 1.22M $WIF for 3.13M $USDC at $2.56 after the market drop!
This whale is very smart, earning:
$20.78M(+1572%) on $WIF $2.21M(+285%) on $POPCAT$474K(+144%) on $WEN$255K(+1658%) on $Hobbes
1/ Let's dig into his trades.👇 pic.twitter.com/ZNTNivdIpy
— Lookonchain (@lookonchain) April 13, 2024
Whale Activity On Solana Top Memecoins
In the case of $WIF , the whale initiated strategic buy and sell actions, purchasing 8.67 million tokens at an average price of $0.15 and subsequently offloading 1.67 million tokens at an average price of $1.93.
Despite the recent market downturn, the whale still holds 7 million $WIF , with a total profit of $20.78 million, marking an impressive increase of 1572%.
Similarly, the whale’s ventures into $POPCAT, $WEN, and $Hobbes have yielded substantial returns. Notably, their swift transaction in $Hobbes resulted in a remarkable profit of $255,000, representing a staggering 1658% increase in just one day.
The whale’s trading activity underscores the volatility and potential profitability of the memecoin market, where swift price movements can offer lucrative opportunities for astute investors.
As $WIF and other memecoins continue to navigate market fluctuations, the actions of prominent traders like this whale serve as a reminder of the dynamic nature of cryptocurrency trading and the importance of strategic decision-making in maximizing returns.
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: vasilyrosca/123RF // Image Effects by Colorcinch
The post Solana’s Leading Memecoin Dogwifhat Plummets 13% Today, 24% Weekly Drop Amid Whale Activity appeared first on The Merkle News.
Cryptocurrency Market Faces Significant Declines As Bitcoin, Ethereum, and Solana Lead the Drop
In the past 24 hours, the cryptocurrency market witnessed a notable downturn, with Bitcoin (BTC) plummeting to a low of $65,086, marking a 4.57% decrease. Ethereum (ETH) also experienced a significant drop below the $3,200 mark, down by 8.12%. Solana (SOL) followed suit, falling below $150 with a 12.68% decline.
BTC fell to a low of $65,086, a 24-hour drop of 4.57%. ETH once fell below $3,200, down 8.12% in 24h. SOL fell below $150, with a 24-hour drop of 12.68%, WIF dropped 24.1% and PEPE dropped 20.3%. The entire network liquidated $829 million in the past 12h, of which $785 million… pic.twitter.com/rhpRwYtetX
— Wu Blockchain (@WuBlockchain) April 13, 2024
Other cryptocurrencies, such as WIF and PEPE, saw drops of 24.1% and 20.3%, respectively. The collective market liquidated $829 million in the past 12 hours, with the majority, $785 million, stemming from long orders.
According to data from Spotonchain, Alameda Research, a prominent player in the cryptocurrency space, made significant moves as the market faced a crash. The firm transferred 2,500 ETH ($8.55 million) to Coinbase at a price of $3,426 via the middle wallet 0xcef.
#FTX and #Alameda Research liquidators truly have a knack for choosing their exit points!
Just 8 hours ago, they deposited another 2,500 $ETH ($8.56M) into #Coinbase at ~$3,426, right before the recent #dump!
Since Mar 1, FTX and Alameda have deposited 15,850 $ETH ($58M) into… pic.twitter.com/CPAJd8EaIJ
— Spot On Chain (@spotonchain) April 13, 2024
This action follows a trend observed since March 1, 2024, where FTX and Alameda deposited 15,850 ETH into Coinbase at an average price of $3,659 ($58 million), often coinciding with dramatic price shifts in the market.
ETH Withdrawal And Activities From Whale Triggers Price Drop
Interestingly, the recent withdrawal of ETH by FTX and Alameda Research preceded a sharp decline in the ETH price. Lookonchain data revealed further activity from a whale in the market. The whale deposited 6,700 ETH ($23.65 million) to Binance just before the market downturn.
A whale deposited 6,700 $ETH ($23.65M) to #Binance before the market dropped.
The whale withdrew 26,698 $ETH ($94.3M) from Binance to stake between Feb 7 and Apr 1.
When he withdrew 6,700 $ETH from #Binance yesterday to prepare for staking as before, he seemed to predict that the… pic.twitter.com/A3RRz50QTT
— Lookonchain (@lookonchain) April 13, 2024
Previously, the whale withdrew 26,698 ETH ($94.3 million) from Binance for staking purposes between February 7 and April 1. Notably, the whale’s decision to deposit 6,700 ETH back to Binance yesterday suggests a preemptive move to prepare for staking amid the anticipated market drop.
The cryptocurrency market’s recent volatility underscores the challenges and uncertainties facing investors and traders, highlighting the importance of closely monitoring market trends and institutional 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!
mage Source: igorigorevich/123RF // Image Effects by Colorcinch
The post Cryptocurrency Market Faces Significant Declines As Bitcoin, Ethereum, And Solana Lead The Drop appeared first on The Merkle News.
BTC fell to a low of $65,086, a 24-hour drop of 4.57%. ETH once fell below $3,200, down 8.12% in 24h. SOL fell below $150, with a 24-hour drop of 12.68%, WIF dropped 24.1% and PEPE dropped 20.3%. The entire network liquidated $829 million in the past 12h, of which $785 million… pic.twitter.com/rhpRwYtetX
— Wu Blockchain (@WuBlockchain) April 13, 2024
Other cryptocurrencies, such as WIF and PEPE, saw drops of 24.1% and 20.3%, respectively. The collective market liquidated $829 million in the past 12 hours, with the majority, $785 million, stemming from long orders.
According to data from Spotonchain, Alameda Research, a prominent player in the cryptocurrency space, made significant moves as the market faced a crash. The firm transferred 2,500 ETH ($8.55 million) to Coinbase at a price of $3,426 via the middle wallet 0xcef.
#FTX and #Alameda Research liquidators truly have a knack for choosing their exit points!
Just 8 hours ago, they deposited another 2,500 $ETH ($8.56M) into #Coinbase at ~$3,426, right before the recent #dump!
Since Mar 1, FTX and Alameda have deposited 15,850 $ETH ($58M) into… pic.twitter.com/CPAJd8EaIJ
— Spot On Chain (@spotonchain) April 13, 2024
This action follows a trend observed since March 1, 2024, where FTX and Alameda deposited 15,850 ETH into Coinbase at an average price of $3,659 ($58 million), often coinciding with dramatic price shifts in the market.
ETH Withdrawal And Activities From Whale Triggers Price Drop
Interestingly, the recent withdrawal of ETH by FTX and Alameda Research preceded a sharp decline in the ETH price. Lookonchain data revealed further activity from a whale in the market. The whale deposited 6,700 ETH ($23.65 million) to Binance just before the market downturn.
A whale deposited 6,700 $ETH ($23.65M) to #Binance before the market dropped.
The whale withdrew 26,698 $ETH ($94.3M) from Binance to stake between Feb 7 and Apr 1.
When he withdrew 6,700 $ETH from #Binance yesterday to prepare for staking as before, he seemed to predict that the… pic.twitter.com/A3RRz50QTT
— Lookonchain (@lookonchain) April 13, 2024
Previously, the whale withdrew 26,698 ETH ($94.3 million) from Binance for staking purposes between February 7 and April 1. Notably, the whale’s decision to deposit 6,700 ETH back to Binance yesterday suggests a preemptive move to prepare for staking amid the anticipated market drop.
The cryptocurrency market’s recent volatility underscores the challenges and uncertainties facing investors and traders, highlighting the importance of closely monitoring market trends and institutional 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!
mage Source: igorigorevich/123RF // Image Effects by Colorcinch
The post Cryptocurrency Market Faces Significant Declines As Bitcoin, Ethereum, And Solana Lead The Drop appeared first on The Merkle News.
DEGEN and DOG Surpass Dogecoin in Weekly Active Traders
Recent data from the market intelligence platform intotheblock reveals a significant development in the memecoin market: both DOG and DEGEN have surpassed Dogecoin in terms of weekly active traders.
This shift in dynamics signals a potential change in the landscape of memecoins, with DOG and DEGEN emerging as formidable contenders.
The criteria for identifying active traders involves analyzing the number of addresses holding an asset for less than a month. This metric serves as a barometer for trader activity and is often indicative of bullish momentum in the market.
For years, Dogecoin has reigned supreme in the memecoin arena, dominating virtually every metric. However, recent trends suggest a shift in this paradigm, with DOG and DEGEN gaining traction and surpassing Dogecoin in terms of active traders.
Both DOG and DEGEN have surpassed Dogecoin in weekly active traders.
➖ The number of addresses that hold an asset for less than a month are classified as traders. ➖ A strong increase in traders usually coincides with bullish momentum.➖ While $DOGE has long dominated almost… pic.twitter.com/XwIMdnFV4X
— IntoTheBlock (@intotheblock) April 11, 2024
DEGEN and DOG Soar To New Milestones
Despite experiencing a 17% decline in value over the past 24 hours, DEGEN currently leads the pack with 129,000 active traders, closely followed by DOG with 126,000 traders.
This surge in trader activity underscores the growing popularity and appeal of these alternative memecoins among investors and traders.
The rise of DEGEN and DOG as frontrunners in the memecoin market signals a potential reconfiguration of the landscape, with new contenders challenging the dominance of established players like Dogecoin.
As the market continues to evolve, it will be interesting to observe how these dynamics unfold and whether Dogecoin can reclaim its position at the helm of the memecoin space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: archnoi1/123RF // Image Effects by Colorcinch
The post DEGEN and DOG Surpass Dogecoin In Weekly Active Traders appeared first on The Merkle News.
This shift in dynamics signals a potential change in the landscape of memecoins, with DOG and DEGEN emerging as formidable contenders.
The criteria for identifying active traders involves analyzing the number of addresses holding an asset for less than a month. This metric serves as a barometer for trader activity and is often indicative of bullish momentum in the market.
For years, Dogecoin has reigned supreme in the memecoin arena, dominating virtually every metric. However, recent trends suggest a shift in this paradigm, with DOG and DEGEN gaining traction and surpassing Dogecoin in terms of active traders.
Both DOG and DEGEN have surpassed Dogecoin in weekly active traders.
➖ The number of addresses that hold an asset for less than a month are classified as traders. ➖ A strong increase in traders usually coincides with bullish momentum.➖ While $DOGE has long dominated almost… pic.twitter.com/XwIMdnFV4X
— IntoTheBlock (@intotheblock) April 11, 2024
DEGEN and DOG Soar To New Milestones
Despite experiencing a 17% decline in value over the past 24 hours, DEGEN currently leads the pack with 129,000 active traders, closely followed by DOG with 126,000 traders.
This surge in trader activity underscores the growing popularity and appeal of these alternative memecoins among investors and traders.
The rise of DEGEN and DOG as frontrunners in the memecoin market signals a potential reconfiguration of the landscape, with new contenders challenging the dominance of established players like Dogecoin.
As the market continues to evolve, it will be interesting to observe how these dynamics unfold and whether Dogecoin can reclaim its position at the helm of the memecoin space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: archnoi1/123RF // Image Effects by Colorcinch
The post DEGEN and DOG Surpass Dogecoin In Weekly Active Traders appeared first on The Merkle News.
Pendle Token Sees 7% Decline Following All-Time High, On-Chain Activity Reflects Positive Sentiment
Pendle, the decentralized finance (DeFi) token, experienced a notable decline of over 7% today, following a surge to an all-time high of $7.5 yesterday. The token is currently trading at $6.69, reflecting a correction after the recent price rally.
Despite the decline in price, on-chain activity indicates positive sentiment surrounding Pendle. Reports suggest that Pendle Real Fire Institutions are actively participating in Pendle liquidity provision (LP) to enhance pledge income.
Notably, Distributed Capital recently transferred 7,000 ETH from Binance and allocated all of them to the Pendle $ezETH pool, providing liquidity with a value of $24.56 million.
Pendle 实火🔥机构也在参与 Pendle LP 放大质押收益😆
分布式资本半小时前从 #Binance 转出 7000 枚 ETH，并全部投入 Pendle $ezETH 池子用于提供流动性，价值 2456 万美金
ezETH 为 Renzo 质押的凭证代币，提供流动性将获得交易手续费、Renzo & EigenLayer 积分和少量 $PENDLE 奖励 pic.twitter.com/vTVXGh8Wdv
— Ai 姨 (@ai_9684xtpa) April 11, 2024
The $ezETH token represents the certificate token for Renzo’s pledge, and liquidity provision enables the earning of transaction fees, Renzo & EigenLayer points, and a small amount of $PENDLE rewards.
Notable Whales Engage In Pendle Staking As They Make Withdrawals From Binance
Additionally, on-chain data from Lookonchain reveals significant activity from whales and institutions withdrawing ETH from Binance and staking it into Pendle and Bedrock.
For instance, 0x1958, potentially related to Fenbushi Capital, withdrew 7,000 ETH ($24.5 million) from Binance and staked it into Pendle. Similarly, Whale “0xaF35” withdrew 6,700 ETH ($23.4 million) from Binance and staked it into Pendle and Bedrock.
Whales/Institutions withdrew $ETH from #Binance and staked it into #Pendle and #Bedrock today.
0x1958(related to #Fenbushi Capital) withdrew 7K $ETH($24.5M) from #Binance and staked it into #Pendle.https://t.co/jMvAKPRvyn
Whale"0xaF35" withdrew 6.7K $ETH($23.4M) from #Binance… pic.twitter.com/Ae4wOTqNdV
— Lookonchain (@lookonchain) April 11, 2024
The involvement of institutional players and whales in Pendle’s ecosystem underscores growing confidence in the project’s potential. While the recent price decline may be seen as a temporary setback, the continued interest from institutional investors and liquidity providers signals a positive outlook for Pendle’s future.
As the DeFi space continues to evolve, Pendle remains a project to watch closely, with its innovative approach to yield optimization and liquidity provision attracting attention from both retail and institutional investors alike.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: kinomasterskaya/123RF // Image Effects by Colorcinch
The post Pendle Token Sees 7% Decline Following All-Time High, On-Chain Activity Reflects Positive Sentiment appeared first on The Merkle News.
Despite the decline in price, on-chain activity indicates positive sentiment surrounding Pendle. Reports suggest that Pendle Real Fire Institutions are actively participating in Pendle liquidity provision (LP) to enhance pledge income.
Notably, Distributed Capital recently transferred 7,000 ETH from Binance and allocated all of them to the Pendle $ezETH pool, providing liquidity with a value of $24.56 million.
Pendle 实火🔥机构也在参与 Pendle LP 放大质押收益😆
分布式资本半小时前从 #Binance 转出 7000 枚 ETH，并全部投入 Pendle $ezETH 池子用于提供流动性，价值 2456 万美金
ezETH 为 Renzo 质押的凭证代币，提供流动性将获得交易手续费、Renzo & EigenLayer 积分和少量 $PENDLE 奖励 pic.twitter.com/vTVXGh8Wdv
— Ai 姨 (@ai_9684xtpa) April 11, 2024
The $ezETH token represents the certificate token for Renzo’s pledge, and liquidity provision enables the earning of transaction fees, Renzo & EigenLayer points, and a small amount of $PENDLE rewards.
Notable Whales Engage In Pendle Staking As They Make Withdrawals From Binance
Additionally, on-chain data from Lookonchain reveals significant activity from whales and institutions withdrawing ETH from Binance and staking it into Pendle and Bedrock.
For instance, 0x1958, potentially related to Fenbushi Capital, withdrew 7,000 ETH ($24.5 million) from Binance and staked it into Pendle. Similarly, Whale “0xaF35” withdrew 6,700 ETH ($23.4 million) from Binance and staked it into Pendle and Bedrock.
Whales/Institutions withdrew $ETH from #Binance and staked it into #Pendle and #Bedrock today.
0x1958(related to #Fenbushi Capital) withdrew 7K $ETH($24.5M) from #Binance and staked it into #Pendle.https://t.co/jMvAKPRvyn
Whale"0xaF35" withdrew 6.7K $ETH($23.4M) from #Binance… pic.twitter.com/Ae4wOTqNdV
— Lookonchain (@lookonchain) April 11, 2024
The involvement of institutional players and whales in Pendle’s ecosystem underscores growing confidence in the project’s potential. While the recent price decline may be seen as a temporary setback, the continued interest from institutional investors and liquidity providers signals a positive outlook for Pendle’s future.
As the DeFi space continues to evolve, Pendle remains a project to watch closely, with its innovative approach to yield optimization and liquidity provision attracting attention from both retail and institutional investors alike.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: kinomasterskaya/123RF // Image Effects by Colorcinch
The post Pendle Token Sees 7% Decline Following All-Time High, On-Chain Activity Reflects Positive Sentiment appeared first on The Merkle News.
Ethereum Rebounds Above $3,600 As Whales Accumulate
Ethereum has made a notable rebound, surpassing the $3,600 mark today, fueled by reports of whale accumulation of ETH tokens.
According to data from Lookonchain, significant withdrawals from exchanges have been observed, indicating whale activity.
One such example is wallet address 0xACc7, suspected to be associated with Matrixport, which withdrew 22,251 ETH ($80.06M) from exchanges in the past few hours and a total of 33,925 ETH ($122.06M) over the past three days.
Whales are accumulating $ETH !
0xACc7(probably #Matrixport) withdrew 22,251 $ETH ($80.06M) from exchanges in the past 1 hour and has withdrawn 33,925 $ETH ($122.06M) from exchanges in the past 3 days.https://t.co/R43ImnYb5H
Whale"0x4359" withdrew 3,092 $ETH ($11.12M) from #Binance… pic.twitter.com/g3inogSVel
— Lookonchain (@lookonchain) April 11, 2024
Another whale, identified as “0x4359,” withdrew 3,092 ETH ($11.12M) from Binance once again, following a withdrawal of 24,044 ETH ($86.5M) from the exchange in the past three days.
More Notable Ethereum Whale Deposit On Exchanges
Spotonchain’s outflow report highlighted a significant deposit by a massive ETH whale, wallet address 0x347, who deposited 9,000 ETH ($32M) to Binance at a price of $3,560, likely for profits. Notably, this deposit marks the largest ETH deposit by this whale to date.
Massive $ETH whale 0x347 deposited 9,000 $ETH ($32M) to #Binance at $3,560 for profits ~ 30 mins ago.
Notably, this is the whale’s largest $ETH deposit to date.
Currently, the whale still holds 29,738 $ETH (~$106M) with an estimated total profit of $68.5M (+65%)!
Follow… pic.twitter.com/SdTaPdtLdM
— Spot On Chain (@spotonchain) April 11, 2024
Despite these withdrawals and deposits, the whale 0x347 still holds 29,738 ETH (approximately $106M), with an estimated total profit of $68.5M, representing a remarkable 65% increase.
The activity of these whales suggests a bullish sentiment surrounding Ethereum, as they accumulate significant amounts of the cryptocurrency.
This accumulation, coupled with the rebound in Ethereum’s price, reflects growing confidence in the asset’s potential for further gains in the near future.
As investors and traders monitor whale activity closely, Ethereum’s performance remains a key focus within 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: nexusplexus/123RF // Image Effects by Colorcinch
The post Ethereum Rebounds Above $3,600 As Whales Accumulate appeared first on The Merkle News.
According to data from Lookonchain, significant withdrawals from exchanges have been observed, indicating whale activity.
One such example is wallet address 0xACc7, suspected to be associated with Matrixport, which withdrew 22,251 ETH ($80.06M) from exchanges in the past few hours and a total of 33,925 ETH ($122.06M) over the past three days.
Whales are accumulating $ETH !
0xACc7(probably #Matrixport) withdrew 22,251 $ETH ($80.06M) from exchanges in the past 1 hour and has withdrawn 33,925 $ETH ($122.06M) from exchanges in the past 3 days.https://t.co/R43ImnYb5H
Whale"0x4359" withdrew 3,092 $ETH ($11.12M) from #Binance… pic.twitter.com/g3inogSVel
— Lookonchain (@lookonchain) April 11, 2024
Another whale, identified as “0x4359,” withdrew 3,092 ETH ($11.12M) from Binance once again, following a withdrawal of 24,044 ETH ($86.5M) from the exchange in the past three days.
More Notable Ethereum Whale Deposit On Exchanges
Spotonchain’s outflow report highlighted a significant deposit by a massive ETH whale, wallet address 0x347, who deposited 9,000 ETH ($32M) to Binance at a price of $3,560, likely for profits. Notably, this deposit marks the largest ETH deposit by this whale to date.
Massive $ETH whale 0x347 deposited 9,000 $ETH ($32M) to #Binance at $3,560 for profits ~ 30 mins ago.
Notably, this is the whale’s largest $ETH deposit to date.
Currently, the whale still holds 29,738 $ETH (~$106M) with an estimated total profit of $68.5M (+65%)!
Follow… pic.twitter.com/SdTaPdtLdM
— Spot On Chain (@spotonchain) April 11, 2024
Despite these withdrawals and deposits, the whale 0x347 still holds 29,738 ETH (approximately $106M), with an estimated total profit of $68.5M, representing a remarkable 65% increase.
The activity of these whales suggests a bullish sentiment surrounding Ethereum, as they accumulate significant amounts of the cryptocurrency.
This accumulation, coupled with the rebound in Ethereum’s price, reflects growing confidence in the asset’s potential for further gains in the near future.
As investors and traders monitor whale activity closely, Ethereum’s performance remains a key focus within 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: nexusplexus/123RF // Image Effects by Colorcinch
The post Ethereum Rebounds Above $3,600 As Whales Accumulate appeared first on The Merkle News.
Bitcoin Rebounds to $70K Despite Negative CPI Report
Bitcoin has surged back to the $70K mark, marking a significant rebound, even amidst a negative US Consumer Price Index (CPI) report indicating a 3.5% inflation rise in March.
This unexpected inflation increase initially led to a drop in equities markets, but the crypto markets displayed resilience, recovering well after Bitcoin briefly dipped to $67.5K just before the CPI results were announced.
🇺🇸💸 The US #ConsumerPriceIndex report has come out, revealing that there was a 3.5% #inflation rise in March. This higher than expected result has dropped #equities markets, but #crypto markets have recovered quite fine after #Bitcoin initially dropped to $67.5K right before the… pic.twitter.com/ht9d5AeSvv
— Santiment (@santimentfeed) April 10, 2024
The reaction from traders has been notable, with a heightened awareness of the potential impact of the CPI report on prices.
There has been a substantial increase in discussions surrounding the report, indicating a keen interest and understanding among market participants.
Despite the sector’s initial decline, traders have shown determination, with “buy the dip” calls gaining traction while sell calls have remained relatively stagnant.
Bitcoin ETF Net Inflow Turns Positive
According to Spotonchain data, Bitcoin ETF net inflow on April 10, 2024, surged to +$124M, marking a significant increase compared to the previous trading day.
Notably, the single-day outflow for Grayscale Bitcoin Trust (GBTC) dropped to only $17.5M, the lowest level in the past 32 trading days.
Additionally, all 10 Bitcoin ETFs experienced single-day inflows/outflows of less than $80M, indicating a generally positive sentiment among investors.
🚨 $BTC #ETF Net Inflow Apr 10, 2024: +124M!
• The net inflow strongly increased by 7.5 times (now positive) compared to the previous trading day.
• The single-day outflow for #Grayscale Bitcoin Trust $GBTC dropped further to only $17.5M, the lowest level in the past 32… https://t.co/E5hyeO19bX pic.twitter.com/ZOC7xOybQO
— Spot On Chain (@spotonchain) April 11, 2024
Further insights from Glassnode data reveal a surge in spot trade volume in Bitcoin markets since the US Spot ETFs went live in early January 2024.
This surge culminated in a peak of approximately $14.1 billion in daily volumes when the market reached its all-time high (ATH) of $73K in mid-March.
While spot trade volume has started to cool down in recent weeks, currently standing at $7 billion per day, it still remains significant, reminiscent of the levels observed during the 2020-2021 bull 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: ximagination/123RF // Image Effects by Colorcinch
The post Bitcoin Rebounds To $70K Despite Negative CPI Report appeared first on The Merkle News.
This unexpected inflation increase initially led to a drop in equities markets, but the crypto markets displayed resilience, recovering well after Bitcoin briefly dipped to $67.5K just before the CPI results were announced.
🇺🇸💸 The US #ConsumerPriceIndex report has come out, revealing that there was a 3.5% #inflation rise in March. This higher than expected result has dropped #equities markets, but #crypto markets have recovered quite fine after #Bitcoin initially dropped to $67.5K right before the… pic.twitter.com/ht9d5AeSvv
— Santiment (@santimentfeed) April 10, 2024
The reaction from traders has been notable, with a heightened awareness of the potential impact of the CPI report on prices.
There has been a substantial increase in discussions surrounding the report, indicating a keen interest and understanding among market participants.
Despite the sector’s initial decline, traders have shown determination, with “buy the dip” calls gaining traction while sell calls have remained relatively stagnant.
Bitcoin ETF Net Inflow Turns Positive
According to Spotonchain data, Bitcoin ETF net inflow on April 10, 2024, surged to +$124M, marking a significant increase compared to the previous trading day.
Notably, the single-day outflow for Grayscale Bitcoin Trust (GBTC) dropped to only $17.5M, the lowest level in the past 32 trading days.
Additionally, all 10 Bitcoin ETFs experienced single-day inflows/outflows of less than $80M, indicating a generally positive sentiment among investors.
🚨 $BTC #ETF Net Inflow Apr 10, 2024: +124M!
• The net inflow strongly increased by 7.5 times (now positive) compared to the previous trading day.
• The single-day outflow for #Grayscale Bitcoin Trust $GBTC dropped further to only $17.5M, the lowest level in the past 32… https://t.co/E5hyeO19bX pic.twitter.com/ZOC7xOybQO
— Spot On Chain (@spotonchain) April 11, 2024
Further insights from Glassnode data reveal a surge in spot trade volume in Bitcoin markets since the US Spot ETFs went live in early January 2024.
This surge culminated in a peak of approximately $14.1 billion in daily volumes when the market reached its all-time high (ATH) of $73K in mid-March.
While spot trade volume has started to cool down in recent weeks, currently standing at $7 billion per day, it still remains significant, reminiscent of the levels observed during the 2020-2021 bull 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!
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The post Bitcoin Rebounds To $70K Despite Negative CPI Report appeared first on The Merkle News.
Ethena Surges to New All-Time Highs Amidst Strong Investor Interest
Ethena, a crypto-native solution built on the Ethereum blockchain, continues to impress as it achieves new all-time highs, reaching $1.497 with a remarkable 15% gain today alone.
In a flurry of recent activity, two Wintermute addresses received a substantial amount of ENA tokens from the Ethena project, totaling 8.43 million ENA, valued at $10.3 million.
Wintermute, holding 21.82 million ENA and 10 million USDe tokens, stands out as the largest on-chain token holder among the three major ENA market makers.
A whale withdrew 6 million $ENA (~ $8.58 million) from Binance and staked all of them just 1 hour ago.
This action instantly catapults him into one of the top stakers within the $ENA contract.
Notably, this individual had previously staked 8.96M $USDe a month ago.
Despite the… pic.twitter.com/S4mD1rxZXi
— Spot On Chain (@spotonchain) April 10, 2024
Additionally, a significant whale withdrew 6 million ENA tokens (approximately $8.58 million) from Binance and promptly staked them just a few hours ago. This move instantly elevates the whale to one of the top stakers within the ENA contract. Notably, this individual had previously staked 8.96 million USDe tokens a month ago, demonstrating a strong commitment to the Ethena ecosystem.
11 小时前，Wintermute 两个地址收到来自 Ethena 项目方的 843 万枚 ENA，价值 1030 万美金
Wintermute 目前共持有 2182 万枚 $ENA 和 1000 万枚 $USDe ，链上代币持有量是 ENA 三大做市商中最多的
钱包地址https://t.co/3zjGk4dREOhttps://t.co/L092cZjCtT https://t.co/DokH0edr5Y pic.twitter.com/BKnDBmlo3v
— Ai 姨 (@ai_9684xtpa) April 10, 2024
ENA Price Action Despite Recent Market Sell-Offs
Despite the broader market downturn, ENA has defied the trend by surging 15% in the past day.
This surge in price coincides with a substantial increase in staking activity, with a total of 114 million ENA tokens, equivalent to approximately $165 million, being staked over the last two days.
The impressive performance of Ethena and the heightened investor interest underscore the growing confidence in the project’s capabilities and potential for long-term success.
As Ethena continues to innovate and attract stakeholders, its position within the cryptocurrency ecosystem is poised to strengthen further.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: cozydigital/123RF // Image Effects by Colorcinch
The post Ethena Surges To New All-Time Highs Amidst Strong Investor Interest appeared first on The Merkle News.
In a flurry of recent activity, two Wintermute addresses received a substantial amount of ENA tokens from the Ethena project, totaling 8.43 million ENA, valued at $10.3 million.
Wintermute, holding 21.82 million ENA and 10 million USDe tokens, stands out as the largest on-chain token holder among the three major ENA market makers.
A whale withdrew 6 million $ENA (~ $8.58 million) from Binance and staked all of them just 1 hour ago.
This action instantly catapults him into one of the top stakers within the $ENA contract.
Notably, this individual had previously staked 8.96M $USDe a month ago.
Despite the… pic.twitter.com/S4mD1rxZXi
— Spot On Chain (@spotonchain) April 10, 2024
Additionally, a significant whale withdrew 6 million ENA tokens (approximately $8.58 million) from Binance and promptly staked them just a few hours ago. This move instantly elevates the whale to one of the top stakers within the ENA contract. Notably, this individual had previously staked 8.96 million USDe tokens a month ago, demonstrating a strong commitment to the Ethena ecosystem.
11 小时前，Wintermute 两个地址收到来自 Ethena 项目方的 843 万枚 ENA，价值 1030 万美金
Wintermute 目前共持有 2182 万枚 $ENA 和 1000 万枚 $USDe ，链上代币持有量是 ENA 三大做市商中最多的
钱包地址https://t.co/3zjGk4dREOhttps://t.co/L092cZjCtT https://t.co/DokH0edr5Y pic.twitter.com/BKnDBmlo3v
— Ai 姨 (@ai_9684xtpa) April 10, 2024
ENA Price Action Despite Recent Market Sell-Offs
Despite the broader market downturn, ENA has defied the trend by surging 15% in the past day.
This surge in price coincides with a substantial increase in staking activity, with a total of 114 million ENA tokens, equivalent to approximately $165 million, being staked over the last two days.
The impressive performance of Ethena and the heightened investor interest underscore the growing confidence in the project’s capabilities and potential for long-term success.
As Ethena continues to innovate and attract stakeholders, its position within the cryptocurrency ecosystem is poised to strengthen further.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: cozydigital/123RF // Image Effects by Colorcinch
The post Ethena Surges To New All-Time Highs Amidst Strong Investor Interest appeared first on The Merkle News.
Maker Protocol’s Governance Token (MKR) Experiences Decline, Yet Whales and Institutions Accumula...
Over the past day, the governance token of the Maker Protocol, MKR, has faced a downturn, with its value dropping by up to 8%. On the weekly chart, the decline extends to 13%.
Despite this bearish trend, insights from Spotonchain, an on-chain data tracking platform, shed light on an interesting development: whales and institutions are seizing the opportunity to accumulate MKR during the dip.
According to Spotonchain’s reports, a notable surge in accumulation activity has been observed. Thirteen fresh wallets withdrew a substantial amount of MKR, totaling 13,560 tokens valued at $47.8 million, from Binance over the past week.
Impressively, within the last 12 hours alone, 8,875 MKR, equivalent to $30.8 million, was withdrawn from Binance.
Institutions appear to be accumulating $MKR !
• 13 fresh wallets withdrew 13,560 $MKR ($47.8M) from #Binance at ~$3,531 in the past week, of which 8,875 $MKR ($30.8M) was withdrawn in the past 12 hours alone.
• 3 more wallets have made test withdrawals of 0.0055 $MKR and… pic.twitter.com/PWNiQC8VpB
— Spot On Chain (@spotonchain) April 10, 2024
Potential Whale Large MKR Withdrawals To Monitor
Moreover, three additional wallets have initiated test withdrawals of 0.0055 MKR each, indicating a potential intention to withdraw larger amounts in the near future.
An intriguing observation is that all sixteen wallets receiving MKR funding also received Ethereum from wallet address 0x316, likely affiliated with Anchorage Digital. This suggests the possibility that these wallets belong to a single entity or are coordinated in their accumulation efforts.
In summary, despite the recent decline in MKR’s value, the accumulation activities of whales and institutions indicate underlying confidence in the long-term prospects of the Maker Protocol. This influx of institutional interest amidst the dip may signal potential bullish momentum for MKR in the coming days.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: loft39studio/123RF // Image Effects by Colorcinch
The post Maker Protocol’s Governance Token (MKR) Experiences Decline, Yet Whales and Institutions Accumulate Amidst Dip appeared first on The Merkle News.
Despite this bearish trend, insights from Spotonchain, an on-chain data tracking platform, shed light on an interesting development: whales and institutions are seizing the opportunity to accumulate MKR during the dip.
According to Spotonchain’s reports, a notable surge in accumulation activity has been observed. Thirteen fresh wallets withdrew a substantial amount of MKR, totaling 13,560 tokens valued at $47.8 million, from Binance over the past week.
Impressively, within the last 12 hours alone, 8,875 MKR, equivalent to $30.8 million, was withdrawn from Binance.
Institutions appear to be accumulating $MKR !
• 13 fresh wallets withdrew 13,560 $MKR ($47.8M) from #Binance at ~$3,531 in the past week, of which 8,875 $MKR ($30.8M) was withdrawn in the past 12 hours alone.
• 3 more wallets have made test withdrawals of 0.0055 $MKR and… pic.twitter.com/PWNiQC8VpB
— Spot On Chain (@spotonchain) April 10, 2024
Potential Whale Large MKR Withdrawals To Monitor
Moreover, three additional wallets have initiated test withdrawals of 0.0055 MKR each, indicating a potential intention to withdraw larger amounts in the near future.
An intriguing observation is that all sixteen wallets receiving MKR funding also received Ethereum from wallet address 0x316, likely affiliated with Anchorage Digital. This suggests the possibility that these wallets belong to a single entity or are coordinated in their accumulation efforts.
In summary, despite the recent decline in MKR’s value, the accumulation activities of whales and institutions indicate underlying confidence in the long-term prospects of the Maker Protocol. This influx of institutional interest amidst the dip may signal potential bullish momentum for MKR in the coming days.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: loft39studio/123RF // Image Effects by Colorcinch
The post Maker Protocol’s Governance Token (MKR) Experiences Decline, Yet Whales and Institutions Accumulate Amidst Dip appeared first on The Merkle News.
Ethereum Surges Past $3,700 Mark, On-Chain Activity Peaks
Ethereum has experienced a remarkable surge in its market capitalization, jumping by an impressive 9.2% in the last 24 hours and surpassing the $3,700 mark for the first time in over three weeks.
According to the Santiment feed, the Market Value to Realized Value metric indicated that traders were averaging significant losses from April 2nd to April 7th, creating an opportune window for buying ETH with minimal risk.
📈🤑 #Ethereum's market cap has jumped a whopping +9.2% in the past 24 hours, crossing $3,700 for the first time in over 3 weeks. The @santimentfeed Market Value to Realized Value indicated traders were averaging sizable losses from April 2nd to April 7th, indicating that there… pic.twitter.com/oEOFdubTBm
— Santiment (@santimentfeed) April 8, 2024
As Ethereum solidifies its position as the second-largest cryptocurrency by market cap, on-chain activity has reached its highest ratio of profit versus loss for the year and since December 22, 2023. This surge in activity coincides with a notable increase in the movement of coins on the blockchain.
Amidst the surge in ETH price and on-chain activity, Alameda Research’s wallet 0xf02 made a significant deposit of 4,000 ETH ($14.75M) to Coinbase at a price of $3,688, marking the largest single ETH deposit by FTX and Alameda since the market rally in February.
Since February 1, 2024, FTX and Alameda have deposited a total of 21,650 ETH ($72.4M) to Coinbase, mostly before the subsequent price drop.
#Alameda Research wallet 0xf02 further deposited 4,000 $ETH ($14.75M) to #Coinbase at $3,688 6 hours ago.
Notably, this is the largest single $ETH deposit by FTX and Alameda since the market rally in Feb. Since Feb 1, 2024, FTX and Alameda have deposited 21,650 $ETH ($72.4M) to… https://t.co/BCd4bZSIC8 pic.twitter.com/ZaWinnXh8n
— Spot On Chain (@spotonchain) April 9, 2024
Ethereum ICO Transfer Of ETH To Renzo
In another development, an Ethereum ICO participant identified as 0x3A0…9f8FE deposited 10,000 ETH tokens to Renzo and Swell eight hours ago, valued at $73.56 million. This deposit has now become Renzo’s fourth-largest personal staking address.
The original participant received 314,807 ETH from the Genesis address on July 30, 2015, at a cost of only $0.31, and also received 4 million DAI from the Ethereum Foundation.
以太坊 ICO 参与者 0x3A0…9f8FE 八小时前分别向 Renzo 和 Swell 存入 10000 枚 $ETH ，价值 7356 万美金；现已成为 Renzo 第四大个人质押地址🏆
该 OG 曾在 2015.07.30 收到 Genesis 地址的 314,807 枚 ETH，成本仅 $0.31😲 还曾经从以太坊基金会处收到 400 万枚 DAI
本条推特由 #Bitget📷 赞助 pic.twitter.com/9P9lafXCQJ
— Ai 姨 (@ai_9684xtpa) April 9, 2024
Overall, Ethereum’s recent surge in price and on-chain activity signals a renewed bullish sentiment in the market, with investors and participants actively engaging in transactions and positioning themselves for potential gains.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: nexusplexus/123RF // Image Effects by Colorcinch
The post Ethereum Surges Past $3,700 Mark, On-Chain Activity Peaks appeared first on The Merkle News.
According to the Santiment feed, the Market Value to Realized Value metric indicated that traders were averaging significant losses from April 2nd to April 7th, creating an opportune window for buying ETH with minimal risk.
📈🤑 #Ethereum's market cap has jumped a whopping +9.2% in the past 24 hours, crossing $3,700 for the first time in over 3 weeks. The @santimentfeed Market Value to Realized Value indicated traders were averaging sizable losses from April 2nd to April 7th, indicating that there… pic.twitter.com/oEOFdubTBm
— Santiment (@santimentfeed) April 8, 2024
As Ethereum solidifies its position as the second-largest cryptocurrency by market cap, on-chain activity has reached its highest ratio of profit versus loss for the year and since December 22, 2023. This surge in activity coincides with a notable increase in the movement of coins on the blockchain.
Amidst the surge in ETH price and on-chain activity, Alameda Research’s wallet 0xf02 made a significant deposit of 4,000 ETH ($14.75M) to Coinbase at a price of $3,688, marking the largest single ETH deposit by FTX and Alameda since the market rally in February.
Since February 1, 2024, FTX and Alameda have deposited a total of 21,650 ETH ($72.4M) to Coinbase, mostly before the subsequent price drop.
#Alameda Research wallet 0xf02 further deposited 4,000 $ETH ($14.75M) to #Coinbase at $3,688 6 hours ago.
Notably, this is the largest single $ETH deposit by FTX and Alameda since the market rally in Feb. Since Feb 1, 2024, FTX and Alameda have deposited 21,650 $ETH ($72.4M) to… https://t.co/BCd4bZSIC8 pic.twitter.com/ZaWinnXh8n
— Spot On Chain (@spotonchain) April 9, 2024
Ethereum ICO Transfer Of ETH To Renzo
In another development, an Ethereum ICO participant identified as 0x3A0…9f8FE deposited 10,000 ETH tokens to Renzo and Swell eight hours ago, valued at $73.56 million. This deposit has now become Renzo’s fourth-largest personal staking address.
The original participant received 314,807 ETH from the Genesis address on July 30, 2015, at a cost of only $0.31, and also received 4 million DAI from the Ethereum Foundation.
以太坊 ICO 参与者 0x3A0…9f8FE 八小时前分别向 Renzo 和 Swell 存入 10000 枚 $ETH ，价值 7356 万美金；现已成为 Renzo 第四大个人质押地址🏆
该 OG 曾在 2015.07.30 收到 Genesis 地址的 314,807 枚 ETH，成本仅 $0.31😲 还曾经从以太坊基金会处收到 400 万枚 DAI
本条推特由 #Bitget📷 赞助 pic.twitter.com/9P9lafXCQJ
— Ai 姨 (@ai_9684xtpa) April 9, 2024
Overall, Ethereum’s recent surge in price and on-chain activity signals a renewed bullish sentiment in the market, with investors and participants actively engaging in transactions and positioning themselves for potential gains.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: nexusplexus/123RF // Image Effects by Colorcinch
The post Ethereum Surges Past $3,700 Mark, On-Chain Activity Peaks appeared first on The Merkle News.
Bitcoin Surges Above $72.6K Amid Halving Anticipation
Bitcoin’s price witnessed a significant surge in the early hours of the week, surpassing the $72.6K mark for the first time since March 14th. This surge brings the leading cryptocurrency tantalizingly close to its previous all-time high, with the crowd attributing much of this rise to the imminent halving event.
With the highly anticipated halving now just 11 days away, market participants are closely monitoring Bitcoin’s price action, expecting further challenges to this key level throughout the week.
However, amidst the excitement surrounding the halving, there are signs of caution as some traders on platforms like Telegram and X are exhibiting overly euphoric sentiments.
Analysts suggest that a small retracement could occur if the crowd’s bullish expectations of the halving event become too exaggerated. The ideal scenario, they say, would be for investors to exercise caution and consider taking profits at current levels rather than succumbing to overly bullish sentiment.
Interestingly, mentions of the Bitcoin halving on platforms like Telegram and X have reportedly reached all-time high levels, indicating heightened interest and anticipation among cryptocurrency enthusiasts.
📈 #Bitcoin's price saw a big jump in the opening hours of the week, crossing above $72.6K for the first time since March 14th. Getting as close as 1.3% from last month's #AllTimeHigh, it appears that the crowd is very much attributing this rise to the upcoming #halving.
With… pic.twitter.com/GUqbslVmSy
— Santiment (@santimentfeed) April 8, 2024
Bitcoin ETF Net Inflow Drops 210%
On the institutional front, data from Spotonchain reveals some notable trends in Bitcoin ETF net inflows for April 8, 2024. The net inflow experienced a significant drop of 210% compared to the previous trading day, now turning negative.
Notably, BlackRock iShares Bitcoin Trust ($IBIT) saw a decrease in single-day inflows to $21.3M, while Bitwise Bitcoin ETF ($BITB) recorded an inflow of $40.3M, surpassing IBIT. Additionally, Grayscale Bitcoin Trust ($GBTC) witnessed an increasing single-day outflow of $303.3M, signaling heightened activity in the institutional sector.
🚨 $BTC #ETF Net Inflow Apr 08, 2024: -224M!
• The net inflow dropped by 210% compared to the previous trading day, now turning negative.
• #BlackRock iShares Bitcoin Trust $IBIT saw a single-day inflow drop to only $21.3M, the lowest in the past 10 trading days, and was… https://t.co/6YvWKqQj3g pic.twitter.com/rNOLFfm6ah
— Spot On Chain (@spotonchain) April 9, 2024
Overall, Bitcoin’s recent surge and the upcoming halving event continue to dominate discussions and market sentiment, with investors closely monitoring developments for potential trading opportunities and 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: strelok/123RF // Image Effects by Colorcinch
The post Bitcoin Surges Above $72.6K Amid Halving Anticipation appeared first on The Merkle News.
With the highly anticipated halving now just 11 days away, market participants are closely monitoring Bitcoin’s price action, expecting further challenges to this key level throughout the week.
However, amidst the excitement surrounding the halving, there are signs of caution as some traders on platforms like Telegram and X are exhibiting overly euphoric sentiments.
Analysts suggest that a small retracement could occur if the crowd’s bullish expectations of the halving event become too exaggerated. The ideal scenario, they say, would be for investors to exercise caution and consider taking profits at current levels rather than succumbing to overly bullish sentiment.
Interestingly, mentions of the Bitcoin halving on platforms like Telegram and X have reportedly reached all-time high levels, indicating heightened interest and anticipation among cryptocurrency enthusiasts.
📈 #Bitcoin's price saw a big jump in the opening hours of the week, crossing above $72.6K for the first time since March 14th. Getting as close as 1.3% from last month's #AllTimeHigh, it appears that the crowd is very much attributing this rise to the upcoming #halving.
With… pic.twitter.com/GUqbslVmSy
— Santiment (@santimentfeed) April 8, 2024
Bitcoin ETF Net Inflow Drops 210%
On the institutional front, data from Spotonchain reveals some notable trends in Bitcoin ETF net inflows for April 8, 2024. The net inflow experienced a significant drop of 210% compared to the previous trading day, now turning negative.
Notably, BlackRock iShares Bitcoin Trust ($IBIT) saw a decrease in single-day inflows to $21.3M, while Bitwise Bitcoin ETF ($BITB) recorded an inflow of $40.3M, surpassing IBIT. Additionally, Grayscale Bitcoin Trust ($GBTC) witnessed an increasing single-day outflow of $303.3M, signaling heightened activity in the institutional sector.
🚨 $BTC #ETF Net Inflow Apr 08, 2024: -224M!
• The net inflow dropped by 210% compared to the previous trading day, now turning negative.
• #BlackRock iShares Bitcoin Trust $IBIT saw a single-day inflow drop to only $21.3M, the lowest in the past 10 trading days, and was… https://t.co/6YvWKqQj3g pic.twitter.com/rNOLFfm6ah
— Spot On Chain (@spotonchain) April 9, 2024
Overall, Bitcoin’s recent surge and the upcoming halving event continue to dominate discussions and market sentiment, with investors closely monitoring developments for potential trading opportunities and 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: strelok/123RF // Image Effects by Colorcinch
The post Bitcoin Surges Above $72.6K Amid Halving Anticipation appeared first on The Merkle News.
Ethena Token $ENA Surges Past $1 Mark, Whales Show Increased Accumulation
In the past 24 hours, the price of Ethena ($ENA ) has experienced a significant surge, surpassing the $1 milestone and climbing over 11% to reach an all-time high of $1.341.
Recent on-chain reports suggest a growing trend of whale accumulation of the token, indicating heightened investor interest. Whale 0x4f6 made headlines by withdrawing a substantial amount of 2.65 million $ENA , valued at $2.98 million, from Bybit at an approximate price of $1.13 over the past weekend.
The $ENA price has risen above $1 again in the last 24 hours!
Whale 0x4f6 withdrew 2.65M $ENA ($2.98M) from #Bybit at ~$1.13 in the past 20 hours, reportedly initiating the first $ENA trade.
Previously, this whale traded 7 other tokens on Bybit, including $ENS, $CYBER, $LINK,… pic.twitter.com/fYT73oVNvC
— Spot On Chain (@spotonchain) April 7, 2024
This transaction marks the initiation of the whale’s first $ENA trade. Notably, this particular whale has previously engaged in trading seven other tokens on Bybit, including $ENS, $CYBER, $LINK, $FTM, $SAND, $MANA, and $AEVO, accruing an estimated total profit of $347K with an impressive win rate of 71.4%.
$ENA Whales Accumulate And Proceeds To Stake It
Further insights from Lookonchain reveal a pattern of whales withdrawing $ENA from exchanges and opting to stake it, particularly in response to the Ethena Season 2 staking rewards program. Notably, three whales withdrew a combined total of 11.9 million $ENA , valued at $15.23 million, from Binance and proceeded to stake it.
Whales are withdrawing $ENA from exchanges and staking it due to the #Ethena Season 2 staking rewards.
3 whales withdrew 11.9M $ENA ($15.23M) from #Binance and staked it.https://t.co/3UrErMJ2R3https://t.co/8ZPz0U8U8Fhttps://t.co/AAwOJLz8qk pic.twitter.com/NbMdbF5xdO
— Lookonchain (@lookonchain) April 8, 2024
In response to this increased interest and participation from the community, Ethena Labs introduced $ENA into Season 2 with the aim of closely aligning the growth of USDe with $ENA .
As part of the staking rewards program, users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet stand to benefit from a 50% increase in their rewards, along with enjoying the highest number of rewards per day compared to any other pool.
Today we introduce $ENA into Season 2 in order to more closely align the growth in USDe with $ENA
Users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet will receive
i) 50% increase in their rewardsii) the highest number of rewards per day of any pool pic.twitter.com/zxVmpGZSN6
— Ethena Labs (@ethena_labs) April 8, 2024
The surge in Ethena’s price coupled with the strategic moves by whales and the introduction of the Season 2 staking rewards program underscores the growing momentum and investor confidence in the Ethena ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: alexandarilich/123RF // Image Effects by Colorcinch
The post Ethena Token $ENA Surges Past $1 Mark, Whales Show Increased Accumulation appeared first on The Merkle News.
Recent on-chain reports suggest a growing trend of whale accumulation of the token, indicating heightened investor interest. Whale 0x4f6 made headlines by withdrawing a substantial amount of 2.65 million $ENA , valued at $2.98 million, from Bybit at an approximate price of $1.13 over the past weekend.
The $ENA price has risen above $1 again in the last 24 hours!
Whale 0x4f6 withdrew 2.65M $ENA ($2.98M) from #Bybit at ~$1.13 in the past 20 hours, reportedly initiating the first $ENA trade.
Previously, this whale traded 7 other tokens on Bybit, including $ENS, $CYBER, $LINK,… pic.twitter.com/fYT73oVNvC
— Spot On Chain (@spotonchain) April 7, 2024
This transaction marks the initiation of the whale’s first $ENA trade. Notably, this particular whale has previously engaged in trading seven other tokens on Bybit, including $ENS, $CYBER, $LINK, $FTM, $SAND, $MANA, and $AEVO, accruing an estimated total profit of $347K with an impressive win rate of 71.4%.
$ENA Whales Accumulate And Proceeds To Stake It
Further insights from Lookonchain reveal a pattern of whales withdrawing $ENA from exchanges and opting to stake it, particularly in response to the Ethena Season 2 staking rewards program. Notably, three whales withdrew a combined total of 11.9 million $ENA , valued at $15.23 million, from Binance and proceeded to stake it.
Whales are withdrawing $ENA from exchanges and staking it due to the #Ethena Season 2 staking rewards.
3 whales withdrew 11.9M $ENA ($15.23M) from #Binance and staked it.https://t.co/3UrErMJ2R3https://t.co/8ZPz0U8U8Fhttps://t.co/AAwOJLz8qk pic.twitter.com/NbMdbF5xdO
— Lookonchain (@lookonchain) April 8, 2024
In response to this increased interest and participation from the community, Ethena Labs introduced $ENA into Season 2 with the aim of closely aligning the growth of USDe with $ENA .
As part of the staking rewards program, users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet stand to benefit from a 50% increase in their rewards, along with enjoying the highest number of rewards per day compared to any other pool.
Today we introduce $ENA into Season 2 in order to more closely align the growth in USDe with $ENA
Users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet will receive
i) 50% increase in their rewardsii) the highest number of rewards per day of any pool pic.twitter.com/zxVmpGZSN6
— Ethena Labs (@ethena_labs) April 8, 2024
The surge in Ethena’s price coupled with the strategic moves by whales and the introduction of the Season 2 staking rewards program underscores the growing momentum and investor confidence in the Ethena ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post Ethena Token $ENA Surges Past $1 Mark, Whales Show Increased Accumulation appeared first on The Merkle News.
Arthur Hayes, Renowned Cryptocurrency Investor, Sells Off GMX Holdings
Renowned cryptocurrency investor Arthur Hayes has reportedly divested his holdings in GMX, marking the end of his two-year tenure as the coin’s largest holder.
In the past 24 hours, trading volume for $GMX has surged significantly, soaring by over 400%. However, market data suggests that selling pressure outweighs buying sentiment, resulting in an 8% decline in the token’s value over the past week and a notable 29% drop over the past month.
According to reports from the cryptocurrency analytics platform Lookonchain, Hayes, the founder of BitMEX, has unstaked a substantial amount of 237,672.8 GMX tokens, valued at nearly $9.7 million.
Arthur Hayes(@CryptoHayes) unstaked all 237,672.8 $GMX ($9.7M) and transferred it to #WintermuteTrading, possibly selling $GMX by #WintermuteTrading.
His average cost of buying $GMX is ~$29.74, and he will make ~$3.2M after selling.https://t.co/kMs7HWy115 pic.twitter.com/d6pyFSdx7J
— Lookonchain (@lookonchain) April 8, 2024
Hayes’ GMX Profit Stands At $3.2 Million
These tokens were subsequently transferred to Wintermute, a significant player in the cryptocurrency market. Lookonchain’s data projections indicate that Hayes stands to profit approximately $3.2 million from the transaction, considering that he originally acquired the tokens at a price of $29.74.
Hayes’ decision to sell off his GMX holdings comes amidst evolving market dynamics and potentially signals a strategic shift in his investment portfolio. The move also sheds light on the broader trends within the cryptocurrency landscape, where investors and traders navigate a dynamic and ever-changing market environment.
While Hayes’ divestment may have implications for the GMX ecosystem and its investor base, it also presents opportunities for new market participants and stakeholders to enter the fray. As the cryptocurrency market continues to evolve and mature, investors like Hayes are actively recalibrating their strategies to adapt to changing market conditions and capitalize on emerging opportunities.
Overall, Hayes’ decision to sell his GMX holdings underscores the fluid and dynamic nature of the cryptocurrency market, where investors must remain vigilant and agile in order to navigate the ever-shifting landscape 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post Arthur Hayes, Renowned Cryptocurrency Investor, Sells Off GMX Holdings appeared first on The Merkle News.
In the past 24 hours, trading volume for $GMX has surged significantly, soaring by over 400%. However, market data suggests that selling pressure outweighs buying sentiment, resulting in an 8% decline in the token’s value over the past week and a notable 29% drop over the past month.
According to reports from the cryptocurrency analytics platform Lookonchain, Hayes, the founder of BitMEX, has unstaked a substantial amount of 237,672.8 GMX tokens, valued at nearly $9.7 million.
Arthur Hayes(@CryptoHayes) unstaked all 237,672.8 $GMX ($9.7M) and transferred it to #WintermuteTrading, possibly selling $GMX by #WintermuteTrading.
His average cost of buying $GMX is ~$29.74, and he will make ~$3.2M after selling.https://t.co/kMs7HWy115 pic.twitter.com/d6pyFSdx7J
— Lookonchain (@lookonchain) April 8, 2024
Hayes’ GMX Profit Stands At $3.2 Million
These tokens were subsequently transferred to Wintermute, a significant player in the cryptocurrency market. Lookonchain’s data projections indicate that Hayes stands to profit approximately $3.2 million from the transaction, considering that he originally acquired the tokens at a price of $29.74.
Hayes’ decision to sell off his GMX holdings comes amidst evolving market dynamics and potentially signals a strategic shift in his investment portfolio. The move also sheds light on the broader trends within the cryptocurrency landscape, where investors and traders navigate a dynamic and ever-changing market environment.
While Hayes’ divestment may have implications for the GMX ecosystem and its investor base, it also presents opportunities for new market participants and stakeholders to enter the fray. As the cryptocurrency market continues to evolve and mature, investors like Hayes are actively recalibrating their strategies to adapt to changing market conditions and capitalize on emerging opportunities.
Overall, Hayes’ decision to sell his GMX holdings underscores the fluid and dynamic nature of the cryptocurrency market, where investors must remain vigilant and agile in order to navigate the ever-shifting landscape 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post Arthur Hayes, Renowned Cryptocurrency Investor, Sells Off GMX Holdings appeared first on The Merkle News.
OKX Adds Zeus Network Token ZEUS to Its Trading Pairs
OKX, a leading centralized trading platform, has announced the listing of the Zeus Network token ZEUS, marking the inaugural project of the Jupiter LFG Launchpad.
This move opens up the ZEUS/USDT trading pair, providing traders with an opportunity to engage with this exciting new token.
The Zeus Network is a groundbreaking permissionless layer that seamlessly integrates the Solana and Bitcoin blockchains, offering users unparalleled flexibility and functionality.
Recent on-chain data from Lookonchain has revealed the remarkable success of two traders who managed to capitalize on the ZEUS token within just one hour. GJ8KyJ and 4BVu5p made substantial profits exceeding $2 million each through strategic trading of ZEUS.
GJ8KyJ invested 2.85 million USDC to acquire 7.74 million ZEUS tokens, subsequently selling them for 5.33 million USDC, resulting in a profit of 2.48 million USDC.
Similarly, 4BVu5p entered the market with 3.48 million USDC, purchasing 7.8 million ZEUS tokens and selling them for 5.58 million USDC, realizing a profit of 2.1 million USDC.
Crazy!
These 2 guys made over $2M by trading $ZEUS in just 1 hour!
GJ8KyJ spent 2.85M $USDC to buy 7.74M $ZEUS and sold 7.41M $ZEUS for 5.33M $USDC, realizing a profit of 2.48M $USDC.
4BVu5p spent 3.48M $USDC to buy 7.8M $ZEUS and sold 7.8M $ZEUS for 5.58M $USDC, realizing a… pic.twitter.com/gllgKLzpUy
— Lookonchain (@lookonchain) April 4, 2024
Slight Price Decline For ZEUS Token
Despite the success of these traders, the price of ZEUS experienced a slight decline of 6% today, according to data from OKX.
However, this dip may present a buying opportunity for investors looking to capitalize on the potential of the Zeus Network and its innovative approach to blockchain integration.
OKX announced that it will list the Zeus Network token ZEUS and open the ZEUS/USDT trading pair. This is also the first project of the Jupiter LFG Launchpad. The Zeus Network is a permissionless layer that combines the Solana with Bitcoin blockchain. https://t.co/PJVRyKJbIA
— Wu Blockchain (@WuBlockchain) April 4, 2024
Overall, the addition of ZEUS to the OKX trading platform marks an exciting development in the cryptocurrency market, offering traders access to a promising new asset with significant growth potential.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post OKX Adds Zeus Network Token ZEUS To Its Trading Pairs appeared first on The Merkle News.
This move opens up the ZEUS/USDT trading pair, providing traders with an opportunity to engage with this exciting new token.
The Zeus Network is a groundbreaking permissionless layer that seamlessly integrates the Solana and Bitcoin blockchains, offering users unparalleled flexibility and functionality.
Recent on-chain data from Lookonchain has revealed the remarkable success of two traders who managed to capitalize on the ZEUS token within just one hour. GJ8KyJ and 4BVu5p made substantial profits exceeding $2 million each through strategic trading of ZEUS.
GJ8KyJ invested 2.85 million USDC to acquire 7.74 million ZEUS tokens, subsequently selling them for 5.33 million USDC, resulting in a profit of 2.48 million USDC.
Similarly, 4BVu5p entered the market with 3.48 million USDC, purchasing 7.8 million ZEUS tokens and selling them for 5.58 million USDC, realizing a profit of 2.1 million USDC.
Crazy!
These 2 guys made over $2M by trading $ZEUS in just 1 hour!
GJ8KyJ spent 2.85M $USDC to buy 7.74M $ZEUS and sold 7.41M $ZEUS for 5.33M $USDC, realizing a profit of 2.48M $USDC.
4BVu5p spent 3.48M $USDC to buy 7.8M $ZEUS and sold 7.8M $ZEUS for 5.58M $USDC, realizing a… pic.twitter.com/gllgKLzpUy
— Lookonchain (@lookonchain) April 4, 2024
Slight Price Decline For ZEUS Token
Despite the success of these traders, the price of ZEUS experienced a slight decline of 6% today, according to data from OKX.
However, this dip may present a buying opportunity for investors looking to capitalize on the potential of the Zeus Network and its innovative approach to blockchain integration.
OKX announced that it will list the Zeus Network token ZEUS and open the ZEUS/USDT trading pair. This is also the first project of the Jupiter LFG Launchpad. The Zeus Network is a permissionless layer that combines the Solana with Bitcoin blockchain. https://t.co/PJVRyKJbIA
— Wu Blockchain (@WuBlockchain) April 4, 2024
Overall, the addition of ZEUS to the OKX trading platform marks an exciting development in the cryptocurrency market, offering traders access to a promising new asset with significant growth potential.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post OKX Adds Zeus Network Token ZEUS To Its Trading Pairs appeared first on The Merkle News.
Pendle Sees 9% Price Surge As Market Interest Skyrockets
Pendle, the cryptocurrency facilitating future yield tokenization and trading, has captured significant attention in the market as its price surged by 9% at press time.
This uptick in price reflects the growing interest and confidence in Pendle’s potential within the cryptocurrency space.
Data from DefiLlama reveals an impressive trajectory for Pendle’s Total Value Locked (TVL), which has skyrocketed from $240 million at the beginning of the year to nearly $4 billion in April, currently standing at $3.96 billion. This remarkable expansion underscores Pendle’s growing prominence in the decentralized finance (DeFi) landscape.
Pendle’s success is closely intertwined with Ethereum’s restaking phenomenon, as tokens from restaked Ethereum protocols significantly contribute to Pendle’s ecosystem. Moreover, Pendle has recently partnered with Amber Group once again to offer enhanced yield opportunities to its users.
We've teamed up with @ambergroup_io again to bring higher yields to their users. 🥳
Now clients can earn fixed rates on ETH through Pendle Earn with Amber Group.
Stay tuned for more integrations as we make DeFi yields simpler and more accessible. ⚡️ pic.twitter.com/9TzZzgNlSU
— Pendle (@pendle_fi) April 5, 2024
Through Pendle Earn with Amber Group, clients can now earn fixed rates on ETH, further enhancing the platform’s appeal.
PENDLE Welcomes Two New Additions To Its Arbitrum LRT
In addition to these developments, Pendle has welcomed two new additions to its Arbitrum Long-Range Token (LRT) lineup: eETH from Ether.fi with a maturity date of June 2024, and rsETH from KelpDAO, also with a June 2024 maturity date.
Wen more LRT on @Arbitrum?
Now more LRT on Arbitrum!
Welcoming 2 new additions to our Arbitrum lineup:
🔹 @ether_fi eETH (June 2024 maturity)🔹 @KelpDAO rsETH (June 2024 maturity) pic.twitter.com/eSHw1HRQqu
— Pendle (@pendle_fi) April 4, 2024
These new pools aim to provide a wider range of Annual Percentage Yield (APY) options to accommodate Yield Tokens (YT) and Principal Tokens (PT) effectively.
Overall, Pendle’s strategic partnerships, innovative product offerings, and robust ecosystem growth demonstrate its commitment to revolutionizing yield tokenization and trading across the cryptocurrency landscape. With plans to expand its presence on platforms like Arbitrum, Pendle is poised to play a significant role in shaping the future of DeFi.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post Pendle Sees 9% Price Surge As Market Interest Skyrockets appeared first on The Merkle News.
This uptick in price reflects the growing interest and confidence in Pendle’s potential within the cryptocurrency space.
Data from DefiLlama reveals an impressive trajectory for Pendle’s Total Value Locked (TVL), which has skyrocketed from $240 million at the beginning of the year to nearly $4 billion in April, currently standing at $3.96 billion. This remarkable expansion underscores Pendle’s growing prominence in the decentralized finance (DeFi) landscape.
Pendle’s success is closely intertwined with Ethereum’s restaking phenomenon, as tokens from restaked Ethereum protocols significantly contribute to Pendle’s ecosystem. Moreover, Pendle has recently partnered with Amber Group once again to offer enhanced yield opportunities to its users.
We've teamed up with @ambergroup_io again to bring higher yields to their users. 🥳
Now clients can earn fixed rates on ETH through Pendle Earn with Amber Group.
Stay tuned for more integrations as we make DeFi yields simpler and more accessible. ⚡️ pic.twitter.com/9TzZzgNlSU
— Pendle (@pendle_fi) April 5, 2024
Through Pendle Earn with Amber Group, clients can now earn fixed rates on ETH, further enhancing the platform’s appeal.
PENDLE Welcomes Two New Additions To Its Arbitrum LRT
In addition to these developments, Pendle has welcomed two new additions to its Arbitrum Long-Range Token (LRT) lineup: eETH from Ether.fi with a maturity date of June 2024, and rsETH from KelpDAO, also with a June 2024 maturity date.
Wen more LRT on @Arbitrum?
Now more LRT on Arbitrum!
Welcoming 2 new additions to our Arbitrum lineup:
🔹 @ether_fi eETH (June 2024 maturity)🔹 @KelpDAO rsETH (June 2024 maturity) pic.twitter.com/eSHw1HRQqu
— Pendle (@pendle_fi) April 4, 2024
These new pools aim to provide a wider range of Annual Percentage Yield (APY) options to accommodate Yield Tokens (YT) and Principal Tokens (PT) effectively.
Overall, Pendle’s strategic partnerships, innovative product offerings, and robust ecosystem growth demonstrate its commitment to revolutionizing yield tokenization and trading across the cryptocurrency landscape. With plans to expand its presence on platforms like Arbitrum, Pendle is poised to play a significant role in shaping the future of DeFi.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post Pendle Sees 9% Price Surge As Market Interest Skyrockets appeared first on The Merkle News.
XRP Witnesses Whale Activity Amidst Market Decline
Today, XRP, the digital asset closely associated with Ripple Labs, has captured the attention of investors amidst a broader downturn in the cryptocurrency market.
The price of XRP experienced a notable decline, reaching $0.56, marking its lowest point in the past two weeks. Data from Santiment feed reveals that XRP holders collectively incurred losses totaling $25.67 million since yesterday.
The price of $XRP fell today, dropping to $0.56, its lowest point in two weeks. @santimentfeed data shows that XRP holders have collectively lost $25.67 million since yesterday.#Ripple #XRPCommunity pic.twitter.com/sLRlt6HqZF
— 山丨ㄥㄥ Trader_Kamikaze 🇧🇷 🤘 (@trader_kamikaze) April 3, 2024
Whale activity in the XRP ecosystem has been particularly noteworthy in the past 24 hours, with significant amounts of XRP tokens being transferred to centralized exchanges (CEXs).
XRP Ripple Whale Activities To Monitor
According to data from Whales Alert:
25,600,000 XRP (equivalent to $14,740,814 USD) was transferred from an unknown wallet to Bitstamp.
20,000,000 XRP (approximately $11,516,261 USD) was moved from another unknown wallet to Bitso.
24,920,366 XRP (valued at $14,254,214 USD) was transferred from yet another unknown wallet to Bithumb.
These large-scale movements of XRP tokens to centralized exchanges indicate heightened activity among whales, potentially signaling a shift in investor sentiment or strategic maneuvering in response to market conditions.
Over the past 7 days, XRP has witnessed an 8% decline, with a more modest 3% drop observed in the past 24 hours.
As investors closely monitor these developments, the broader cryptocurrency market continues to navigate through periods of volatility, with XRP emerging as a focal point of interest amidst evolving 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post XRP Witnesses Whale Activity Amidst Market Decline appeared first on The Merkle News.
The price of XRP experienced a notable decline, reaching $0.56, marking its lowest point in the past two weeks. Data from Santiment feed reveals that XRP holders collectively incurred losses totaling $25.67 million since yesterday.
The price of $XRP fell today, dropping to $0.56, its lowest point in two weeks. @santimentfeed data shows that XRP holders have collectively lost $25.67 million since yesterday.#Ripple #XRPCommunity pic.twitter.com/sLRlt6HqZF
— 山丨ㄥㄥ Trader_Kamikaze 🇧🇷 🤘 (@trader_kamikaze) April 3, 2024
Whale activity in the XRP ecosystem has been particularly noteworthy in the past 24 hours, with significant amounts of XRP tokens being transferred to centralized exchanges (CEXs).
XRP Ripple Whale Activities To Monitor
According to data from Whales Alert:
25,600,000 XRP (equivalent to $14,740,814 USD) was transferred from an unknown wallet to Bitstamp.
20,000,000 XRP (approximately $11,516,261 USD) was moved from another unknown wallet to Bitso.
24,920,366 XRP (valued at $14,254,214 USD) was transferred from yet another unknown wallet to Bithumb.
These large-scale movements of XRP tokens to centralized exchanges indicate heightened activity among whales, potentially signaling a shift in investor sentiment or strategic maneuvering in response to market conditions.
Over the past 7 days, XRP has witnessed an 8% decline, with a more modest 3% drop observed in the past 24 hours.
As investors closely monitor these developments, the broader cryptocurrency market continues to navigate through periods of volatility, with XRP emerging as a focal point of interest amidst evolving 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post XRP Witnesses Whale Activity Amidst Market Decline appeared first on The Merkle News.
DYDX Token Experiences Bearish Trend Amidst Whale Activity and More Insights to Monitor
The native token of the dydx chain, $DYDX , has encountered a notable bearish trend over the past month, with losses amounting to 19% in the last 30 days and a further 11% decline over the past week.
Recent reports shed light on significant whale activity surrounding $DYDX , particularly involving the renowned Amber Group. An eye-catching transaction occurred as Amber Group transferred a substantial 330,000 $DYDX to the address 0x4E4…4Df6e.
Subsequently, all tokens were promptly recharged into Binance, boasting a value of $1 million.
20 分钟前，Amber Group 向地址 0x4E4…4Df6e 转移了 33 万枚 $DYDX ，随后全部充值进 #Binance，价值 100 万美金
有意思的是，Ai 姨在 @mest_io 中搜索接收地址时，发现它曾参与了 11.15 – 11.18 DYDX 的大额抛售，推动币价下跌 12%；而 2023.11.15 至今，该地址已累计向币安充值 493 万枚… pic.twitter.com/L5wLo4H1lu
— Ai 姨 (@ai_9684xtpa) April 4, 2024
Delving deeper into the transaction history, analyst Ai Ai discovered intriguing insights regarding the receiving address.
Mest_io revealed that the address had previously participated in a large-scale sell-off of $DYDX between November 15th and 18th. This selling spree notably contributed to a 12% downturn in the currency’s price.
DYDX Whale Token Accumulation And Holding
Since November 15th, the address has accumulated a total of 4.93 million $DYDX , valued at an impressive $15.42 million. Despite this accumulation, the address still retains a significant stake, holding 2.53 million $DYDX with a total valuation of $7.69 million.
The flurry of activity surrounding $DYDX reflects the dynamic nature of cryptocurrency markets, where whales wield considerable influence over price movements.
As the token grapples with its recent bearish performance, the actions of major players like the Amber Group continue to shape its trajectory.
Investors and enthusiasts alike remain vigilant, closely monitoring developments within the $DYDX ecosystem amidst ongoing market fluctuations.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post DYDX Token Experiences Bearish Trend Amidst Whale Activity And More Insights To Monitor appeared first on The Merkle News.
Recent reports shed light on significant whale activity surrounding $DYDX , particularly involving the renowned Amber Group. An eye-catching transaction occurred as Amber Group transferred a substantial 330,000 $DYDX to the address 0x4E4…4Df6e.
Subsequently, all tokens were promptly recharged into Binance, boasting a value of $1 million.
20 分钟前，Amber Group 向地址 0x4E4…4Df6e 转移了 33 万枚 $DYDX ，随后全部充值进 #Binance，价值 100 万美金
有意思的是，Ai 姨在 @mest_io 中搜索接收地址时，发现它曾参与了 11.15 – 11.18 DYDX 的大额抛售，推动币价下跌 12%；而 2023.11.15 至今，该地址已累计向币安充值 493 万枚… pic.twitter.com/L5wLo4H1lu
— Ai 姨 (@ai_9684xtpa) April 4, 2024
Delving deeper into the transaction history, analyst Ai Ai discovered intriguing insights regarding the receiving address.
Mest_io revealed that the address had previously participated in a large-scale sell-off of $DYDX between November 15th and 18th. This selling spree notably contributed to a 12% downturn in the currency’s price.
DYDX Whale Token Accumulation And Holding
Since November 15th, the address has accumulated a total of 4.93 million $DYDX , valued at an impressive $15.42 million. Despite this accumulation, the address still retains a significant stake, holding 2.53 million $DYDX with a total valuation of $7.69 million.
The flurry of activity surrounding $DYDX reflects the dynamic nature of cryptocurrency markets, where whales wield considerable influence over price movements.
As the token grapples with its recent bearish performance, the actions of major players like the Amber Group continue to shape its trajectory.
Investors and enthusiasts alike remain vigilant, closely monitoring developments within the $DYDX ecosystem amidst ongoing market fluctuations.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post DYDX Token Experiences Bearish Trend Amidst Whale Activity And More Insights To Monitor appeared first on The Merkle News.
LTC Shows Resilience Amidst Bearish Crypto Market Sentiment
Despite the prevailing bearish sentiment across the cryptocurrency market, Litecoin (LTC) has emerged as a standout performer, surging by 8.9% in the past 24 hours.
This impressive rally has propelled LTC ahead of its altcoin counterparts, fueled by a notable increase in transaction volume observed over the past month.
⚡️📈 #Litecoin (+8.9%) is well ahead of the #altcoin pack in the past 24 hours, powered by significantly higher transaction volume than usual throughout the past month. More importantly, the average of $LTC investments is getting younger, indicating whales are moving more coins… pic.twitter.com/YUBTqi3mXu
— Santiment (@santimentfeed) April 2, 2024
A key factor driving LTC’s recent surge is the shifting demographics of its investor base. Recent data indicates that the average age of LTC investments is decreasing, suggesting that whales are actively redistributing their holdings back into circulation.
Santiment’s data further reveals that LTC experienced a peak in on-chain transaction volume at the end of March, coinciding with a significant price uptick. Additionally, Litecoin’s weekly SuperTrend indicator has begun to turn upward, signaling a potential bullish reversal after a prolonged consolidation period.
#Litecoin weekly SuperTrend has started to turn upward after the longest base building phase ever pic.twitter.com/DRyQnsbaDy
— Tony "The Bull" Severino, CMT (@tonythebullBTC) April 2, 2024
75% Of LTC Holders Now On Profits
Another catalyst contributing to LTC’s resilience is its classification as a commodity by the CFTC. This designation has bolstered investor confidence, with 75% of LTC holders currently enjoying profitable positions.
Looking ahead, analysts anticipate a potential resistance level for LTC around the $150 mark. Historical data suggests that approximately 8.16 million LTC, held by 590,000 addresses, was purchased at this level.
$LTC is currently one of the select few assets in the top 100 that's in the green today, showing strong performance ever since it was labeled a commodity by the CFTC. This move has led to 75% of $LTC holders now being in profit.
Looking forward, we're eyeing a notable on-chain… pic.twitter.com/rkGaOSCHkB
— IntoTheBlock (@intotheblock) April 2, 2024
As such, these holders may seek to offload their positions, presenting a formidable barrier for further price appreciation.
With positive indicators aligning for Litecoin amidst a challenging market landscape, investors are closely monitoring its performance for potential trading opportunities and trend reversals.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
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The post LTC Shows Resilience Amidst Bearish Crypto Market Sentiment appeared first on The Merkle News.
This impressive rally has propelled LTC ahead of its altcoin counterparts, fueled by a notable increase in transaction volume observed over the past month.
⚡️📈 #Litecoin (+8.9%) is well ahead of the #altcoin pack in the past 24 hours, powered by significantly higher transaction volume than usual throughout the past month. More importantly, the average of $LTC investments is getting younger, indicating whales are moving more coins… pic.twitter.com/YUBTqi3mXu
— Santiment (@santimentfeed) April 2, 2024
A key factor driving LTC’s recent surge is the shifting demographics of its investor base. Recent data indicates that the average age of LTC investments is decreasing, suggesting that whales are actively redistributing their holdings back into circulation.
Santiment’s data further reveals that LTC experienced a peak in on-chain transaction volume at the end of March, coinciding with a significant price uptick. Additionally, Litecoin’s weekly SuperTrend indicator has begun to turn upward, signaling a potential bullish reversal after a prolonged consolidation period.
#Litecoin weekly SuperTrend has started to turn upward after the longest base building phase ever pic.twitter.com/DRyQnsbaDy
— Tony "The Bull" Severino, CMT (@tonythebullBTC) April 2, 2024
75% Of LTC Holders Now On Profits
Another catalyst contributing to LTC’s resilience is its classification as a commodity by the CFTC. This designation has bolstered investor confidence, with 75% of LTC holders currently enjoying profitable positions.
Looking ahead, analysts anticipate a potential resistance level for LTC around the $150 mark. Historical data suggests that approximately 8.16 million LTC, held by 590,000 addresses, was purchased at this level.
$LTC is currently one of the select few assets in the top 100 that's in the green today, showing strong performance ever since it was labeled a commodity by the CFTC. This move has led to 75% of $LTC holders now being in profit.
Looking forward, we're eyeing a notable on-chain… pic.twitter.com/rkGaOSCHkB
— IntoTheBlock (@intotheblock) April 2, 2024
As such, these holders may seek to offload their positions, presenting a formidable barrier for further price appreciation.
With positive indicators aligning for Litecoin amidst a challenging market landscape, investors are closely monitoring its performance for potential trading opportunities and trend reversals.
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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: dusanzidar/123RF // Image Effects by Colorcinch
The post LTC Shows Resilience Amidst Bearish Crypto Market Sentiment appeared first on The Merkle News.
Options Market Sees Unusual Activity Amidst Bitcoin’s Decline
As Bitcoin prices continued to slide, the options market presented a peculiar scenario with a notable absence of put options being traded.
According to data from Greekslive, the majority of trades yesterday were calls, indicating a bullish sentiment prevailing in the market.
The situation was particularly striking in the Ethereum options market, where call option trades constituted a staggering 90% of the total trades—a level of extreme share rarely witnessed.
Bitcoin continues to fall, driving the crypto market down significantly, with panic spreading across the market and futures premium levels falling.However, in the options market, few puts were traded, and the main trades today were all calls. Especially in ETH, call option… pic.twitter.com/1tjb9Zvqeq
— Greeks.live (@GreeksLive) April 2, 2024
These trades were characterized by their dispersed nature and did not involve block trades, suggesting fluctuations surrounding the halving event as a potential factor.
Bitcoin Whales Capitalize On This Slight Dip To Accumulate Ethereum
Meanwhile, reports from Lookonchain suggest that whales are capitalizing on the market dip to accumulate Ethereum.
Notable entities such as Fenbushi Capital and Galaxy Digital were observed withdrawing substantial amounts of ETH from Binance following the market downturn.
Both Fenbushi Capital and Galaxy Digital withdrew $ETH from #Binance after the market dropped.
Fenbushi Capital withdrew 5,207.4 $ETH ($17.2M) from #Binance 11 hours ago.
Galaxy Digital withdrew 6,000 $ETH ($19.8M) from #Binance 4 hours ago.
Address:https://t.co/wJDIeJ6o97… pic.twitter.com/gDQBKMIK96
— Lookonchain (@lookonchain) April 3, 2024
Fenbushi Capital withdrew 5,207.4 ETH ($17.2 million) approximately 11 hours ago, while Galaxy Digital withdrew 6,000 ETH ($19.8 million) around 4 hours ago.
Despite the bearish trend in Bitcoin, Ethereum is currently trading at $3317, indicating resilience in the face of market volatility.
As investors navigate the uncertain market conditions, the dynamics in the options market and the strategic moves of whales provide valuable insights into the evolving 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: fellowneko/123RF // Image Effects by Colorcinch
The post Options Market Sees Unusual Activity Amidst Bitcoin’s Decline appeared first on The Merkle News.
According to data from Greekslive, the majority of trades yesterday were calls, indicating a bullish sentiment prevailing in the market.
The situation was particularly striking in the Ethereum options market, where call option trades constituted a staggering 90% of the total trades—a level of extreme share rarely witnessed.
Bitcoin continues to fall, driving the crypto market down significantly, with panic spreading across the market and futures premium levels falling.However, in the options market, few puts were traded, and the main trades today were all calls. Especially in ETH, call option… pic.twitter.com/1tjb9Zvqeq
— Greeks.live (@GreeksLive) April 2, 2024
These trades were characterized by their dispersed nature and did not involve block trades, suggesting fluctuations surrounding the halving event as a potential factor.
Bitcoin Whales Capitalize On This Slight Dip To Accumulate Ethereum
Meanwhile, reports from Lookonchain suggest that whales are capitalizing on the market dip to accumulate Ethereum.
Notable entities such as Fenbushi Capital and Galaxy Digital were observed withdrawing substantial amounts of ETH from Binance following the market downturn.
Both Fenbushi Capital and Galaxy Digital withdrew $ETH from #Binance after the market dropped.
Fenbushi Capital withdrew 5,207.4 $ETH ($17.2M) from #Binance 11 hours ago.
Galaxy Digital withdrew 6,000 $ETH ($19.8M) from #Binance 4 hours ago.
Address:https://t.co/wJDIeJ6o97… pic.twitter.com/gDQBKMIK96
— Lookonchain (@lookonchain) April 3, 2024
Fenbushi Capital withdrew 5,207.4 ETH ($17.2 million) approximately 11 hours ago, while Galaxy Digital withdrew 6,000 ETH ($19.8 million) around 4 hours ago.
Despite the bearish trend in Bitcoin, Ethereum is currently trading at $3317, indicating resilience in the face of market volatility.
As investors navigate the uncertain market conditions, the dynamics in the options market and the strategic moves of whales provide valuable insights into the evolving 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: fellowneko/123RF // Image Effects by Colorcinch
The post Options Market Sees Unusual Activity Amidst Bitcoin’s Decline appeared first on The Merkle News.
Popular
Arbitrum ARB Faces Declining Prices Amidst Concerns Over Upcoming Token Unlock
Investors are closely monitoring the trajectory of Arbitrum (ARB) as its price continues to decline across all timeframes, experiencing a further 7% drop in the past 24 hours.
The looming unlock event scheduled for April 16, where approximately 92.65 million ARB tokens are set to be distributed to advisors, team members, and investors, has sparked significant apprehension within the cryptocurrency community.
五分钟前，Amber Group 再次向 #Coinbase 充值 100 万枚 $ARB ，价值 149 万美金 https://t.co/1OjZW3KxKb
目前该地址仍剩余 482 万枚 ARB，价值 719 万美金；2024 年 Amber 已累计向交易所充值 954 万枚 ARB，总价值 1,778 万美金；近七天 ARB 已下跌 13.8%，现价 $1.50
本条推特由 #Bitget 赞助 https://t.co/rVivOpv2NI pic.twitter.com/6nxC2CKUhJ
— Ai 姨 (@ai_9684xtpa) April 2, 2024
Recent on-chain reports reveal that Amber Group has recharged 1 million ARB tokens to Coinbase, amounting to $1.49 million, in a move that underscores the shifting dynamics of the token’s market.
Despite this transaction, there remains 4.82 million ARBs in the address, valued at $7.19 million. Throughout 2024, Amber has consistently deposited ARB tokens to the exchange, totaling 9.54 million ARBs with a combined value of $17.78 million.
ARB Price Decline Rises Worry In Many Traders
The decline in ARB’s price by 13.8% over the past seven days has added to the growing concerns surrounding the token’s performance.
Currently priced at $1.48, investors are closely monitoring market trends and developments leading up to the unlock event.
In the face of mounting uncertainty, market participants are eagerly awaiting further insights into how the upcoming token distribution will impact Arbitrum’s market dynamics and overall trajectory.
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 Arbitrum ARB Faces Declining Prices Amidst Concerns Over Upcoming Token Unlock appeared first on The Merkle News.
The looming unlock event scheduled for April 16, where approximately 92.65 million ARB tokens are set to be distributed to advisors, team members, and investors, has sparked significant apprehension within the cryptocurrency community.
五分钟前，Amber Group 再次向 #Coinbase 充值 100 万枚 $ARB ，价值 149 万美金 https://t.co/1OjZW3KxKb
目前该地址仍剩余 482 万枚 ARB，价值 719 万美金；2024 年 Amber 已累计向交易所充值 954 万枚 ARB，总价值 1,778 万美金；近七天 ARB 已下跌 13.8%，现价 $1.50
本条推特由 #Bitget 赞助 https://t.co/rVivOpv2NI pic.twitter.com/6nxC2CKUhJ
— Ai 姨 (@ai_9684xtpa) April 2, 2024
Recent on-chain reports reveal that Amber Group has recharged 1 million ARB tokens to Coinbase, amounting to $1.49 million, in a move that underscores the shifting dynamics of the token’s market.
Despite this transaction, there remains 4.82 million ARBs in the address, valued at $7.19 million. Throughout 2024, Amber has consistently deposited ARB tokens to the exchange, totaling 9.54 million ARBs with a combined value of $17.78 million.
ARB Price Decline Rises Worry In Many Traders
The decline in ARB’s price by 13.8% over the past seven days has added to the growing concerns surrounding the token’s performance.
Currently priced at $1.48, investors are closely monitoring market trends and developments leading up to the unlock event.
In the face of mounting uncertainty, market participants are eagerly awaiting further insights into how the upcoming token distribution will impact Arbitrum’s market dynamics and overall trajectory.
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 Arbitrum ARB Faces Declining Prices Amidst Concerns Over Upcoming Token Unlock appeared first on The Merkle News.
Crypto Market Faces Retracement As Bitcoin Dips to $66.4K
The cryptocurrency market has witnessed a notable retracement as Bitcoin dropped to $66.4K, leading to further declines in altcoin market caps.
Despite this concerning trend, there remains a strong sense of confidence among investors, with many anticipating a swift rebound.
📉 #Bitcoin has seen a drop to $66.4K, and #altcoins have shed much more of their market caps as prices have continued their concerning retracement to kick off April. However, the crowd is staying quite strong and showing confidence toward the prospects of a quick rebound.
The… pic.twitter.com/tbGmtmTNIb
— Santiment (@santimentfeed) April 2, 2024
Analysis of online discourse reveals an interesting pattern, with words like “buy,” “buying,” “bought,” and “bullish” being used at approximately double the frequency of words like “sell,” “selling,” “sold,” or “bearish.”
This suggests that the sentiment among market participants leans towards optimism, even amidst the current downturn.
Historically, the most lucrative opportunities for buying the dip occur when there is a sense of fear in the crowd regarding further price drops.
This fear often prompts smaller investors to sell their holdings, allowing larger players such as whales and institutional investors to accumulate assets at lower prices.
Bitcoin ETF Net Inflow Turns Negative
Recent data from Spotonchain highlights a notable trend in Bitcoin ETF net inflows for April 1, 2024. The net inflow turned negative after four consecutive days of positivity, indicating a shift in investor sentiment.
Additionally, the Grayscale Bitcoin Trust ($GBTC) experienced a single-day outflow of $302.6 million, contributing to the overall selling pressure in the market.
🚨 $BTC #ETF Net Inflow Apr 01, 2024: -88M!
• The net inflow turned negative again after being positive for 4 days.
• Grayscale Bitcoin Trust $GBTC experienced a single-day outflow of $302.6M, maintaining a strong selling pressure.
Follow @spotonchain and check out the… https://t.co/U2Fi6KHFqu pic.twitter.com/AnfX7ndUpg
— Spot On Chain (@spotonchain) April 2, 2024
Despite the current retracement, many investors remain optimistic about the long-term prospects of cryptocurrencies.
The resilience of the market and the continued interest from institutional players suggest that this downturn may present an opportunity for strategic accumulation and investment.
As the crypto market continues to evolve, investors are advised to remain vigilant and adaptable to navigate the fluctuations and capitalize on potential 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: ximagination/123RF // Image Effects by Colorcinch
The post Crypto Market Faces Retracement As Bitcoin Dips To $66.4K appeared first on The Merkle News.
Despite this concerning trend, there remains a strong sense of confidence among investors, with many anticipating a swift rebound.
📉 #Bitcoin has seen a drop to $66.4K, and #altcoins have shed much more of their market caps as prices have continued their concerning retracement to kick off April. However, the crowd is staying quite strong and showing confidence toward the prospects of a quick rebound.
The… pic.twitter.com/tbGmtmTNIb
— Santiment (@santimentfeed) April 2, 2024
Analysis of online discourse reveals an interesting pattern, with words like “buy,” “buying,” “bought,” and “bullish” being used at approximately double the frequency of words like “sell,” “selling,” “sold,” or “bearish.”
This suggests that the sentiment among market participants leans towards optimism, even amidst the current downturn.
Historically, the most lucrative opportunities for buying the dip occur when there is a sense of fear in the crowd regarding further price drops.
This fear often prompts smaller investors to sell their holdings, allowing larger players such as whales and institutional investors to accumulate assets at lower prices.
Bitcoin ETF Net Inflow Turns Negative
Recent data from Spotonchain highlights a notable trend in Bitcoin ETF net inflows for April 1, 2024. The net inflow turned negative after four consecutive days of positivity, indicating a shift in investor sentiment.
Additionally, the Grayscale Bitcoin Trust ($GBTC) experienced a single-day outflow of $302.6 million, contributing to the overall selling pressure in the market.
🚨 $BTC #ETF Net Inflow Apr 01, 2024: -88M!
• The net inflow turned negative again after being positive for 4 days.
• Grayscale Bitcoin Trust $GBTC experienced a single-day outflow of $302.6M, maintaining a strong selling pressure.
Follow @spotonchain and check out the… https://t.co/U2Fi6KHFqu pic.twitter.com/AnfX7ndUpg
— Spot On Chain (@spotonchain) April 2, 2024
Despite the current retracement, many investors remain optimistic about the long-term prospects of cryptocurrencies.
The resilience of the market and the continued interest from institutional players suggest that this downturn may present an opportunity for strategic accumulation and investment.
As the crypto market continues to evolve, investors are advised to remain vigilant and adaptable to navigate the fluctuations and capitalize on potential 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 @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: ximagination/123RF // Image Effects by Colorcinch
The post Crypto Market Faces Retracement As Bitcoin Dips To $66.4K appeared first on The Merkle News.