Из жизни альткоинов

Председатель комитета Госдумы РФ по финансовому рынку Анатолий Аксаков заявил, что к 1 ноября Банк России и Министерство финансов сообщат, какие организации будут включены в процесс использования криптовалют во внешнеторговых сделках.

US-based spot Bitcoin (BTC) exchange-traded-funds (ETFs) saw a net outflow of $43 million on September 11, 2024, following two days of inflows, data from SoSoValue confirms.

Ark Invest and Grayscale Lead Bitcoin ETF Outflows

According to data from SoSoValue – a crypto ETF data provider – US spot BTC ETF outflows were led by Ark Invest and 21Shares’ ARKB, which witnessed a net outflow of $54 million yesterday. This was followed by Grayscale’s GBTC spot Bitcoin ETF, which experienced a net outflow of $4.6 million. Notably, another Grayscale product called the Bitcoin Mini Trust saw a net outflow of $511,000. 

Conversely, the net inflows for the day were spearheaded by Fidelity’s FBTC, which attracted close to $12.6 million. This was followed by Invesco’s BTCO which observed $2.59 million in net inflows. 

Ethereum (ETH) ETFs had a similar day as they witnessed $542,000 in net outflows. Although Fidelity’s FETH attracted $1.17 million in net inflows, it was annulled by $1.71 million in net outflows seen in VanEck’s ETHV product.

Cumulatively, the 12 spot Bitcoin ETFs tracked by SoSoValue have amassed $17 billion in net inflows since their inception in January 2024. By contrast, the 9 spot Ethereum ETFs’ cumulative net outflow is approximately $563 million. 

Among other factors, the stark difference between the performance of Bitcoin and Ethereum ETFs could be attributed to the fact that Ethereum ETFs didn’t have the kind of anticipation within the crypto industry or high level of interest from institutional investors that Bitcoin ETFs likely benefitted from during their launch.

What Could ETF Outflow Suggest About Investor Confidence?

Outflows from Bitcoin and Ethereum ETFs could indicate that the investors are practicing caution ahead of the sensitive macroeconomic events that could induce volatility in the crypto markets, such as the US Federal Reserve’s (Fed) decision to cut interest rates next week or the US Presidential Elections scheduled in November 2024.

Given that the aforementioned net outflows occurred after two days of net inflows, it could be worth considering whether yesterday’s higher-than-anticipated US core CPI reading had any impact on investors’ decision to pull some funds out of their digital asset ETFs. 

It’s also possible that the more savvy investors could just be pulling their funds out anticipating better entry points to reinvest in these assets, meaning a temporary upcoming pull-back in BTC and ETH prices could be on the horizon. As a result, the net outflows might be a sign of strategic profit-taking by investors instead of a loss of confidence in the underlying asset class.

Recent developments indicate that institutional appetite for digital assets is not slowing down. BlackRock – the world’s largest asset manager – eclipsed Grayscale to cement itself as the company with the highest crypto ETF holdings.

Further, a report by cryptocurrency exchange Gemini noted that Bitcoin and Ethereum ETFs have generated inflows worth billions of dollars from institutional investors. However, regulatory gray clouds surrounding crypto remain a cause of concern.

At press time, Bitcoin is trading at $57,656, up 1.3% in the past 24 hours with a total market cap of $1.14 trillion. Ethereum trades at $2,343, up a modest 0.2% in the last 24 hours with a total market cap of $281.7 billion. The total crypto market cap stands at $2.12 trillion, witnessing a rise of 0.3% in the last 24 hours, according to data from CoinGecko.

Ethereum co-founder Vitalik Buterin has been in the spotlight for the last few weeks for the 950 ETH selloff from an address associated with him.

The sales have sparked concerns among investors who found the transactions suspicious despite Buterin’s previous explanations. Following the latest sale, Buterin clarified the selling details and offered some relief to the community.

Ethereum Founder’s Moves Raise Concerns

In August, Vitalik Buterin made large-scale ETH transfers to a multisig wallet linked to him. The transfers raised concerns among investors who worried a selloff could add further selling pressure to the second-largest cryptocurrency by market capitalization in an already volatile market.

As reported by Bitcoinist, Ethereum’s co-founder initially sent 3,000 ETH, worth around $8.04 million at the time, to the multisig wallet on August 9. 20 days later, Buterin sent another 800 ETH, valued at $2.01 million, to the same address. The multisig then swapped 190 ETH for 477,000 USDC.

After the news, the crypto community heavily criticized Buterin, claiming that the project’s founder was “bullposting while dumping” on the community. Others shared a pessimistic outlook about the future of ETH’s price since developers were “dumping on us.”

However, a few investors considered the backlash unwarranted and that there’s “nothing wrong with taking profits once in a while.” Buterin replied to these claims, affirming that he does not sell tokens for personal profit.

In an X post, Ethereum’s founder explained that all sales since 2018 have been done to support various projects he considers valuable. These include projects within the Ethereum ecosystem or broader charity, like biomedical research and development.

A week later, he clarified that the same principle applied to Layer-2 tokens or any other project tokens he held, and all sales from those tokens would be donated to public goods.

Is Vitalik Done Selling?

Despite clarifying the nature of these sales, the crypto community worried again when news of another sale was shared. On-chain data analysis firm Lookonchain reported on September 11 that the multisig associated with Buterin had sold another 190 ETH on Wednesday morning.

The report revealed that the transaction, valued at 441,971 USDC, was the latest in a series of sales. Since August 30, Ethereum’s founder, multisig has sold 950 ETH, worth $2.27 million, at an average price of $2,396.

The 950 ETH selloff was divided into five smaller transactions of 190 ETH each, every three days. After the latest transaction, Buterin deposited the proceedings from the 950 ETH to the decentralized protocol Aave.

The news alarmed some users, who, once again, criticized Buterin for selling while simultaneously bullposting. Moreover, some questioned his previous explanation, suggesting it might not be 100% true.

In another X post, he addressed investors’ concern, detailing the reason behind the latest move. According to Ethereum’s founder, Wednesday’s transaction was triggered by an “automatic cowswap twap order” made by a bio-defense group he funds.

The order was set up on August 29 but was executed on Wednesday, implying that the other four sales had a similar setup. Additionally, Buterin stated that it “was the last one,” hinting that, for the time being, investors should not worry about further dumping related to the orders.

As of this writing, the second-largest cryptocurrency by market cap trades at $2,348, a modest 0.2% surge in the last 24 hours.

Число популярных проектов на блокчейне TON продолжает расти, привлекая все больше внимания к платформе. TON предлагает конкурентоспособную технологическую альтернативу сети Solana.

On-chain data shows the Bitcoin Active Addresses metric has plunged to very low levels recently. Here’s what this could mean for the asset’s price.

Bitcoin 30-Day MA Active Addresses Now Down To Just 1 Million

As explained by CryptoQuant author Axel Adler Jr in a new post on X, the BTC Active Addresses indicator has been on the decline recently. This metric measures, as its name already suggests, the total number of addresses participating in some kind of transaction activity on the Bitcoin blockchain every day.

The unique number of active addresses may be considered the same as the unique number of users interacting with the network, so this indicator’s value can tell us about the amount of traffic that BTC is dealing with right now.

When the metric’s value rises, it means the number of users using the network is going up. Such a trend implies that the blockchain is currently attracting attention. On the other hand, the indicator registering a decline suggests that investor interest in the cryptocurrency may be decreasing as fewer users are making transactions.

Now, here is a chart that shows the trend in the 30-day and 365-day moving averages (MAs) of the Bitcoin Active Addresses over the last few years:

As is visible in the above graph, the 30-day MA of the Bitcoin Active Addresses has been declining for the past year. The indicator had temporarily deviated from this downtrend during the price rally towards the all-time high (ATH), but had resumed business as the asset had slumped to consolidation.

Investors find sharp price action like rallies exciting, so it’s not surprising that the surge earlier in the year quickly attracted a lot of attention. The boring price action that has followed since then, however, has made users lose interest just as fast.

Soon after the 30-day MA Active Addresses had resumed its downwards trajectory, its value had seen a plunge under the 365-day MA, and since then, the two lines have maintained this arrangement.

This would suggest that the recent monthly activity of Bitcoin has been lower than the average for the past year. In fact, at its current value of around 1 million, the 30-day MA of the Active Addresses is at a level similar to the one witnessed back in July 2021.

The July 2021 slump came as China banned BTC mining, which adversely affected the cryptocurrency’s price. Nonetheless, the Active Addresses didn’t stay at these lows for too long, as the network came back alive, and the bull run saw a second wave.

Historically, any sustainable move in the asset has required a rise in the Active Addresses, as the new users coming in provide the fuel needed to keep such runs going. As such, until the Active Addresses can rebound, Bitcoin may not be able to see another lasting rally now as well.

BTC Price

Bitcoin had recovered back above $58,000 earlier in the day, but it would appear the asset has slipped off again as its price is now trading at $57,700.

Legendary crypto analyst, Benjamin Cowen has expressed confidence that Ethereum (ETH), the world’s largest altcoin, could outperform Bitcoin (BTC) soon. This optimistic projection comes as both leading cryptocurrencies experience significant price fluctuations, however, Cowen foresees Ethereum’s current downtrend concluding by year’s end, setting the stage for a resurgence.  

Ethereum On Track To Outperform Bitcoin

In a recent interview on the Bankless podcast, Cowen provided an in-depth analysis of current crypto market conditions, emphasizing Bitcoin and Ethereum price movements compared to previous bull cycles. The analyst offered insights into Ethereum’s outlook, believing that the cryptocurrency will outperform Bitcoin in the next bull cycle. 

Cowen disclosed that the Third Quarter (Q3) of 2024 has been relatively boring, with August and September seeing sharp price declines and negative sentiment throughout the broader crypto market. He predicted that Ethereum could drop even lower from this point before experiencing any notable uptick in its price. 

The analyst noted that Ethereum usually follows a unique trend pattern in each cycle, where the ETH/BTC trading pair tends to reach a top, then a low and subsequently forms a lower high. He disclosed that in 2016, Ethereum broke support for the first time, peaked and then experienced a decline of over 70%. However, the cryptocurrency eventually recovered and resumed its upward trajectory in the post-halving year.

Cowen highlighted that this unique price action has been repeated in every bull cycle, and Ethereum is currently following a similar trajectory. He pointed out that historically, during previous bull cycles, Ethereum has outperformed Bitcoin, expressing confidence that the cryptocurrency could do so again in this cycle. 

As a result, Cowen anticipates a pivot from the Federal Reserve (FED) is imminent, which he believes would drive the ETH/BTC pair to a price bottom by the end of the year. The analyst has predicted that the price of Ethereum may likely drop below $2,000 in the Fourth Quarter (Q4) of this year, before experiencing a bounce to new levels. 

Is The Bull Market Dead?

During the podcast, Cowen was bombarded with a ton of questions, the most notable being, ” Is the bull market over?” The reason behind this question can be attributed to the current market conditions in the crypto space. 

Following Bitcoin’s all-time high of over $73,000 in March 2024, the cryptocurrency has been on a massive downtrend, even falling below $54,000 at some point this year. This unexpected bearish trend after its halving event on April 20 has led to speculations of the bull run being over. 

In addressing whether the bull market has ended or is yet to begin, Cowen clarified that the market has already experienced the Quantitative Tightening (QT) phase of the bull market and is positioning itself for a Quantitative Easing (QE) bull market by 2025.  

In the ever-evolving world of cryptocurrency assets, it is believed that most digital assets possess speculative bubble characteristics, demonstrating uncertainty about the stability of their value. However, a market expert has claimed that XRP’s value remains robust and free from the speculative bubble pressures often seen with other cryptocurrencies.

Is XRP More Stable Than The Top Cryptocurrencies?

As XRP continues to demonstrate its significant presence in the cryptocurrency industry, crypto enthusiast SMQKE in a recent commentary has shed light on the fundamental qualities that provide durability to the altcoin’s value.

The expert argues that the token’s value is robust since it is not subject to the speculative bubbles that other digital assets like Bitcoin (BTC) and Ethereum (ETH) are susceptible to while sharing a document to back up his claims.

The document read:

As a result, it was found that the macroeconomic and financial developments did not form a significant difference upon the value of XRP and the changes experienced in Bitcoin prices did not influence XRP. Fry (2018) practiced a rational bubble model for cryptocurrencies and detected bubbles in Bitcoin and Ethereum, while no bubble was detected in XRP.

When prices in financial markets are predominantly driven by investor euphoria, optimism, and the expectation of future price increases rather than the underlying fundamental worth of the asset, this is referred to as a speculative bubble.

SMQKE noted that since 2017, Ethereum and Bitcoin have been in a speculative bubble triggered by massive price manipulation and deceptive centralized strategies. Meanwhile, XRP, on the other hand, lacks a speculative value bubble due to its technological security.

This prognosis from SMQKE simply means that the hype strategies driving a large portion of the cryptocurrency market cannot be used to influence the price of XRP, because its value is rooted in its utility in real-world uses, especially in cross-border transactions and institutional finance. “The rise in XRP’s price will be driven by organic growth and network usage,” he added.

SMQKE then drew attention to his previous post where he highlighted that Bitcoin and Ethereum are not as “decentralized” as many within the industry usually believe, further solidifying the durability of the altcoin.

A 2017-Style Bull Run Incoming For The Altcoin

Following a brief market recovery, XRP is seeing multiple positive predictions about its potential in the short term from several crypto analysts. A crypto expert, Pharaoh has predicted a possible 2017-style bullish breakout for the altcoin within the year.

According to Pharaoh, 8 months after the Bitcoin Halving event in July 2016, the token began to rise in 2017 and went on to experience a massive bull run leading to its current all-time high. Now, following the 2024 Halving, the expert asserted that it is positioned to initiate the trend once more, possibly kicking off by December.

However, Pharaoh anticipates the altcoin to rally massively once the ongoing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) is essentially concluded and closed. “A strong end to 2024 is likely with tons of fundamental and technical momentum headed into 2025,” Pharoah added.

Ethereum is under pressure at spot rates. As of September 12, the second most valuable coin struggled for momentum and stuck below $2,400. The daily chart shows that ETH is selling off steadily, and the zone between $2,400 and $2,800 is proving to be a strong liquidation region.

Ethereum Revenue Falls To May 2020 Levels

Beyond price action, something is printing out. According to observers, not only is ETH price dumping but also a notable decline in revenue accompanying the sell-off. At press time, the daily revenue generated by the smart contracts platform is at May 2020 levels.

To clarify, “revenue” refers to fees paid to validators whenever they approve a transaction or execute smart contracts on the chain. While this is a concern, some analysts are buoyant, saying Ethereum’s future, despite revenue challenges, is bright.

This confidence stems from various developments. Top of the list is the insistence that gas fees on Ethereum are down and are not as bad as many think. Over the years, several implementations have been made to make mainnet transactions cheaper.

Following the congestion during the last bull run in 2020 through 2021 that pushed gas fees to record highs, Ethereum developers pushed for layer-2 solutions. Platforms like Arbitrum, OP Mainnet, and Base now command billions in total value locked (TVL), looking at L2Beat data, and gaining users’ trust.

Most importantly, though these solutions route transactions off-chain, there have been no major hacks discouraging participation and questioning their security.

Due to their popularity, top technological firms and crypto exchanges like Sony and Coinbase have been active. Coinbase already backs Base, while Sony plans to launch a layer-2, Soneium.

The Scaling Success, Continuous Building And Refinement

The rapid adoption of Ethereum layer-2 solutions to reduce the load on the base layer could explain shrinking fees. Moreover, the Dencun upgrade further slashed layer-2 gas fees, making these platforms even cheaper.

It is this success Ethereum has had on matters of scalability that observers think the platform’s future is promising. Before layer-2s, Ethereum struggled to maintain users as most couldn’t afford the high gas fees, forcing them to alternatives like Solana, Tron, and Avalanche.

As a yardstick for success, meme coin activity in Ethereum remains decent even as it shrinks on Solana and shifts to Tron. According to Coingecko, some of the most valuable meme coins, Pepe and Floki, reside on Ethereum, while others, like Brett, are on Base–part of the network’s ecosystem.

The platform is also building. After the transition to proof-of-stake after The Merge, the immediate objective is to scale on-chain.

Vitalik Buterin, the co-founder of Ethereum, said this will be achieved in phases from Purge to Splurge. By the end, the platform would have implemented Sharding, allowing the platform to process millions of transactions every second without off-chain methods.

The Bitcoin price difficulties earlier this week appear to have been largely driven by a significant selloff by miners, commonly referred to as miner capitulation. On-chain data shows that the total amount of BTC held by miners has crashed massively in the last three days. In particular, these miners recently sold $1.71 billion worth of BTC in a short period of time. As you might imagine, this trend is concerning for Bitcoin, especially as the cryptocurrency is currently struggling to regain momentum and climb back above the critical $60,000 price level.

Miners Offloading Massive Amounts Of Bitcoin

According to on-chain data noted on social media by crypto analyst Ali Martinez, Bitcoin miners recently offloaded 30,000 BTC worth approximately $1.71 billion in the past 72 hours. Interestingly, such a massive selloff occurred during a marked increase in the mining difficulty. 

Data from Mempool shows that the Bitcoin mining difficulty skyrocketed on Wednesday, September 11, to reach a new all-time high. Notably, the mining difficulty reached a record of 92.67 trillion, eclipsing the previous record of 90.67 trillion set in July. The mining difficulty essentially increases as more miners join to compete for the rewards for adding new blocks to the blockchain. The difficulty adjusts based on the number of active miners, with more miners leading to an increase in competition. 

Since the last halving in April 2024, miner rewards have essentially been cut in half, leaving many of them wanting in terms of profit. For many smaller mining operations and even some large-scale players, this reduction in rewards has led to profitability concerns, as they now have to work harder and expend more computational power while earning less in return. The lack of a marked increase in the price of Bitcoin in the past few months has further exacerbated the plight of Bitcoin miners, leaving many no choice but to sell their holdings. 

According to Santiment data, the total amount of BTC held by miners has dropped massively. Notably, the amount dropped from 2.23 million BTC in late July to around 2.14 million BTC, according to recent data. 

Is The BTC Rally Officially Over?

As noted by Martinez, the miner selloff increased in the past 72 hours. Such large-scale selling from miners can exert substantial downward pressure on the price, further complicating Bitcoin’s efforts to recover.

It’s important to note that miner capitulation is not the only factor to determine the official end to a Bitcoin rally. Evidently, Bitcoin’s price has been stuck in a correction phase for over two months, and many market participants are already reneging on the hope for the resumption of an uptrend. However, Bitcoin has mostly held up over the strong $50,000 support level despite various selloffs. A resumption of institutional inflow into the market could see Bitcoin picking up the rally and breaking into a new all-time high.

At the time of writing, the first step is breaking above $60,000. Bitcoin is currently trading at $57,960 and is up by 2.4% in the past 24 hours.

Bitcoin is trading around $57,500 after a volatile session sparked by the release of the CPI data. Amid the market turbulence, CryptoQuant’s on-chain and macro researcher Axel Adler shared an interesting observation about Bitcoin and mining stocks. 

According to Adler, a strong correlation exists between the Bitcoin price and the public miners’ stock index, as highlighted in a CryptoQuant chart. This suggests that any movements in Bitcoin price could directly affect the value of mining stocks. 

As investors maintain high expectations for Bitcoin’s performance in the coming months, the price of BTC will likely play a crucial role in determining the fate of both mining companies and BTC-related stocks. With market sentiment fluctuating, the relationship between Bitcoin and mining stocks remains a key factor for investors to monitor.

Bitcoin Miners Waiting For A Bounce

After weeks of extreme fear, volatility, and uncertainty, Bitcoin (BTC) is regaining momentum, and investors are increasingly optimistic about future gains. This renewed confidence is especially strong among Bitcoin miners, particularly those tied to public miner stocks, whose performance is closely linked to Bitcoin price movements.

A detailed report from CryptoQuant’s on-chain and macro analyst, Axel Adler, highlights how mining company stocks’ growth heavily depends on Bitcoin price action. This relationship became especially noticeable during the bull run of 2021-2022 when both BTC and miner stocks soared in tandem. 

While this correlation has generated renewed interest in miner stocks, it also raises concerns for analysts. Bitcoin price has not yet confirmed a clear uptrend or recovery since the market’s downturn in March, which leaves miners in a cautious position.

Miners have reacted by gradually reducing their BTC holdings, a sign of caution amid potential price concerns. On-chain data shows that miner balances have steadily declined since the beginning of September.

Glassnode data reveals a gradual decrease in Bitcoin held by miners since September 2, with the total miner balance currently standing at around 1.8 million BTC, valued at approximately $99 billion at current prices.

If this selling pressure from miners continues, it could significantly impact Bitcoin price in the short term, as increased supply from miners selling their coins tends to put downward pressure on prices. 

On the other hand, other market factors, such as positive regulatory news or increased institutional adoption, could provide a bullish catalyst for Bitcoin, lifting both BTC and miner stocks. Ultimately, how these factors play out will determine whether Bitcoin and related equities can sustain the current momentum or face further challenges ahead.

Bitcoin Price Action Details

Bitcoin (BTC) is currently trading at $58,219 after experiencing a volatile day yesterday. The price has surged over 10% since September 6 and is now testing a crucial resistance level.

If this resistance is broken, it could signal further price appreciation. BTC is just 1.26% away from the 4-hour 200 exponential moving average (EMA) at $58,758, a key technical indicator that has acted as resistance since early August.

A short-term trend change would likely occur if BTC breaks this resistance and successfully tests it as support. For bulls to gain strong momentum, the price must surpass $60,000, a significant psychological level seen as a turning point by many investors.

However, if BTC fails to close above these critical levels in the coming weeks, a deeper correction could follow, with the potential for lower prices as the next logical scenario in the current market environment.

Featured image from Dall-E, chart from TradingView

In a dramatic hearing on Thursday, a federal judge expressed his anger at former FTX executive Ryan Salame, threatening sanctions for what he described as false testimony during Salame’s guilty plea last year. 

According to CNBC, the proceedings occurred in the US District Court in Manhattan, where Judge Lewis Kaplan addressed Salame’s claims that federal prosecutors had made promises to him regarding his plea agreement.

FTX Executive’s Guilty Plea Under Scrutiny

As reported by Bitcoinist, in 2023, Salame had initially pleaded guilty to campaign finance and money transmission violations, claiming that prosecutors had offered no inducements. 

However, during Thursday’s hearing, he contradicted that statement, claiming that prosecutors had assured him through his former attorneys that they would drop a criminal investigation into his romantic partner, Michelle Bond if he agreed to plead guilty. According to the report, Kaplan, “visibly frustrated,” stated: 

You are asking me to let stand a conviction and sentence that I now know is based on false testimony before me in the plea allocution.

Kaplan emphasized the importance of truthfulness during plea hearings, noting that defendants must disclose any promises made to them in exchange for their guilty pleas. “Salame induced me to accept his guilty plea,” the judge repeated, clarifying that this situation could have serious implications for Salame’s case.

Judge Threatens Sanctions Over False Testimony

As the hearing unfolded, Kaplan indicated that he would take time to consider appropriate actions against Salame, including the possibility of sanctions. Salame’s legal team had previously sought to void his 2023 guilty plea, claiming that prosecutors had failed to uphold their end of the agreement regarding Bond. 

Salame’s lawyers alleged that despite assurances made in April 2023, the investigation into Bond for campaign finance violations continued, culminating in her indictment shortly after.

Bond faces charges related to her congressional campaign in 2022, with prosecutors asserting that she conspired to raise “illegal campaign contributions” from the defunct FTX exchange. 

The indictment includes allegations that Salame facilitated these actions by wiring substantial amounts of money to Bond’s account, which she allegedly used to fund her campaign unlawfully.

Following Bond’s indictment, Salame sought to withdraw his motion to vacate his guilty plea, stating during the hearing that he no longer wished to pursue this course of action. Judge Kaplan then ordered Salame to report to prison by October 11, adjusting the original surrender date.

At the time of writing, FTX’s native token FTT is trading at $1.311, up 1.4% in the 24-hour time frame and the same amount every month, as the broader crypto market approaches recovery.

Featured image from DALL-E, chart from TradingView.com

Fighting an increasing menace in bitcoin fraud known as “pig butchering,” the Commodity Futures Trading Commission has declared a coordinated effort with other federal and commercial organizations.

By doing this, the agency will work with several federal and private groups —not just the US Securities and Exchange Commission and the Financial Industry Regulatory Authority—for better awareness and education of the public about such frauds.

In response to these scams, the Office of Customer Outreach and Education is partnering with organizations such as the American Bankers Association Foundation, the Federal Bureau of Investigation and the Department of Homeland Security to distribute information materials to consumers that raise “red flags” that may help consumers identify and avoid these scams.

Recently, “pig butchering” scams were reported to be the highest-return fraud involving cryptocurrency, leaving victims with staggering losses.

What Are ‘Pig Butchering’ Scams?

Typically, these types of schemes include con artists luring victims into a state of trust—most frequently through the use of dating apps or social media—and then persuading them to fund fictitious cryptocurrency-based ventures. The CFTC’s campaign aims to prevent fraud before it occurs by educating potential victims about the tactics used by scammers.

CFTC launches effort to combat crypto investment scams

The Commodity Futures Trading Commission (CFTC) has partnered with organizations like the American Bankers Association Foundation and federal agencies to educate the public on crypto investment scams, specifically “pig…

— CoinNess Global (@CoinnessGL) September 11, 2024

Partnerships And Educational Materials

The CFTC campaign also involves an infographic illustrating the stages involved–from how a victim would be targeted to the final result of losing money. This will be used to identify red flags and give tips on where to report suspicious messages.

The CFTC also is partnering with the SEC’s Office of Investor Education and Advocacy, FINRA, and the North American Securities Administrators Association in developing and disseminating an investor alert to clearly demonstrate how “pig butchering” fraudsters operate.

Reporting Mechanism And Goals

The website also urges victims to report the scams to authorities and gives them, step by step, instructions on how to document and report fraudulent activities. The CFTC campaign focuses on the targets of those who would least expect falling prey to scams and underscores a message that even knowledgeable investors may be targeted.

This coordinated action by the CFTC marks a significant stride toward mitigating the growing concern about frauds connected with cryptocurrency. Alliances shall be utilized to help make the mission accomplish its goal: empowering the people to defend against frauds, which have recently become complex.

Featured image from Pexels, chart from TradingView

In the fast-paced world of cryptocurrency, the right timing and investments can lead to massive profits, especially for savvy investors who know where to place their bets. One Ethereum (ETH) whale has managed to turn a modest $20,000 investment into a staggering $200,000 by smartly diversifying into two of the hottest cryptocurrencies of the moment: Starknet (STRK) and Mpeppe (MPEPE). As both coins experience significant price movements, investors are taking a closer look at how these tokens are redefining the market.

Starknet’s Struggles Amid Market Gains

Despite broad market surges, Starknet (STRK) recently experienced a sharp 3% decline. As Bitcoin and other altcoins surged in value, Starknet (STRK) failed to capitalize on the bullish momentum. According to data, STRK saw its price dip to $0.4137, sparking concerns among investors. This decline has largely been attributed to large-scale transactions linked to the Three Arrows Capital (3AC) liquidation process, which saw 2.07 million STRK tokens transferred for an over-the-counter (OTC) sale on September 9.

Three Arrows Capital, which filed for bankruptcy following the Luna crash of 2022, continues to sell off assets to pay down its massive debts. As more Starknet (STRK) tokens are offloaded, many fear that STRK could experience further price drops in the coming days. However, some investors remain optimistic, viewing this dip as a potential buying opportunity.

Why Starknet (STRK) Fell

The liquidation process of Three Arrows Capital has cast a long shadow over Starknet (STRK). On-chain data revealed that the insolvent company’s liquidation address transferred 2.07 million STRK tokens (valued at approximately $856,000) to Wintermute for sale. The transfer of such a significant amount of tokens for an OTC sale has caused many to speculate that further downward pressure could be placed on the coin in the near term.

As the Three Arrows Capital liquidation unfolds, more crypto assets—including Starknet (STRK)—are expected to be sold off. This has led to increased selling pressure on the token, pushing its price down as a result. Crypto enthusiasts are keeping a close eye on whether Starknet (STRK) can recover once these liquidations are completed.

Ethereum (ETH) Whale Takes Advantage of Market Shifts

While Starknet (STRK) faced challenges, some Ethereum (ETH) whales saw this as an opportunity to capitalize on the downturn. One savvy ETH whale invested heavily in both Starknet (STRK) and the up-and-coming Mpeppe (MPEPE), turning a $20,000 initial investment into a 10x return. Mpeppe (MPEPE), a casino-themed cryptocurrency, has quickly become a fan favorite due to its strong community backing and the potential for significant short-term gains.

This Ethereum (ETH) whale’s strategy reflects a broader trend among investors who are looking for projects with high upside potential. While Ethereum (ETH) remains a dominant player in the crypto space, many of its investors are seeking new opportunities with smaller, faster-growing tokens like Starknet (STRK) and Mpeppe (MPEPE).

Mpeppe (MPEPE): The Newcomer with High Potential

Mpeppe (MPEPE) is making waves in the crypto community with its innovative approach to decentralized gambling. With a current price of $0.0021, Mpeppe (MPEPE) has attracted a loyal following of both retail and institutional investors, including ETH whales. The coin’s unique combination of meme culture and decentralized finance (DeFi) features makes it a prime candidate for explosive growth.

Mpeppe (MPEPE)’s presale has already gained significant momentum, and investors are eagerly awaiting its full launch. With projections of 150% gains in the short term, Mpeppe (MPEPE) is positioning itself as one of the top investment opportunities for those looking to capitalize on new, fast-growing projects.

Why Ethereum (ETH) Investors are Flocking to Mpeppe

Ethereum (ETH) investors, in particular, have shown a keen interest in Mpeppe (MPEPE). As ETH whales search for opportunities to diversify their portfolios, Mpeppe (MPEPE) offers the potential for outsized returns compared to more established assets like Ethereum (ETH). The relatively low price point and promising market dynamics make Mpeppe (MPEPE) an attractive investment, especially for those looking to maximize their profits in a short period.

Additionally, the decentralized gambling space is a growing market, and Mpeppe (MPEPE) is well-positioned to take advantage of this trend. With more investors piling in, the demand for Mpeppe (MPEPE) is likely to increase, driving its price higher.

Conclusion: The Future of Starknet and Mpeppe

While Starknet (STRK) continues to face challenges due to the Three Arrows Capital liquidation, many investors see this as a temporary setback. If the token can stabilize and recover from the current price dip, it could offer a strong upside for those willing to take the risk. On the other hand, Mpeppe (MPEPE) is emerging as a powerful contender in the cryptocurrency market, with significant growth potential.

For Ethereum (ETH) whales and other savvy investors, the combination of Starknet (STRK) and Mpeppe (MPEPE) presents a unique opportunity to diversify and capitalize on both long-term and short-term gains. As the crypto market continues to evolve, these two tokens could prove to be some of the most profitable investments of 2024.

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In the fast-paced world of cryptocurrency, seasoned investors are always on the lookout for new opportunities to reinvest their profits for massive returns. Recently, Internet Computer (ICP) has been a favorite among crypto enthusiasts, delivering double-digit gains and outperforming the broader market trends. With a significant surge in ICP’s value, many holders are now diverting their profits into new promising ventures, such as the gambling ICO coin, Mpeppe (MPEPE).

Internet Computer’s (ICP) Bullish Surge

Internet Computer (ICP) has recently captured the attention of the crypto world with its impressive price rally, defying the general market cooldown. Internet Computer (ICP) broke above a descending trendline that had held since mid-April, gaining over 14% in a single day and reaching a trading price of around $8.50. Despite the broader market correction, Internet Computer (ICP) has managed to rise by 11%, marking a notable achievement in September.

Key technical indicators like the Relative Strength Index (RSI) and On-Balance Volume (OBV) suggest that this bullish momentum could continue in the near term. Additionally, ICP’s open interest in futures markets has seen a substantial rise from $35.87 million to $47.21 million, indicating growing interest and new money entering the ecosystem.

According to on-chain data, ICP’s burn rate has also increased, reducing its circulating supply and adding more bullish pressure to its price action. This, coupled with high trading volumes and positive technical analysis, has analysts predicting ICP could reach as high as $25 in the short term, with some even suggesting a long-term target of $79.57—a whopping 777% increase from current levels.

Mpeppe (MPEPE): The Next Big Thing

With Internet Computer (ICP) holders riding the wave of its price surge, many are now looking at Mpeppe (MPEPE) as their next big investment. Mpeppe (MPEPE), a gambling ICO token, is currently in its presale phase and has already attracted significant attention due to its potential to skyrocket by 150%. The project’s innovative approach to decentralized gambling, along with its viral meme coin appeal, has made it one of the most talked-about tokens in the market.

Priced at $0.0021, Mpeppe (MPEPE) is nearing the completion of its Stage 4 presale, with over 80% of tokens already sold. Early investors are betting on Mpeppe (MPEPE)’s potential to replicate the success of meme coins like Shiba Inu (SHIB) or Dogecoin (DOGE), expecting explosive returns once the coin is fully listed on exchanges.

Why ICP Investors Are Betting on Mpeppe

1. Reinvestment of Profits: Internet Computer (ICP) holders have seen substantial gains over the past few weeks, and with the bullish momentum expected to continue, many are looking to reinvest their profits into, high-reward ventures like Mpeppe (MPEPE). The gambling coin’s promising presale performance and strong community backing make it an appealing choice for those looking to maximize their returns.
2. Market Sentiment: Internet Computer (ICP)’s recent surge has bolstered market confidence in decentralized projects that offer real utility. Similarly, Mpeppe (MPEPE) taps into the decentralized gambling space, which is gaining traction among crypto investors. As more users seek entertainment and profit opportunities in the decentralized world, gambling tokens like Mpeppe (MPEPE) are well-positioned for success.
3. Potential for Explosive Growth: With Internet Computer (ICP) already proving its resilience in the market, many investors see Mpeppe (MPEPE) as the next logical step for substantial returns. The token is currently at an attractive price point, offering early investors a chance to ride the wave of growth expected once it hits the broader market. Analysts predict Mpeppe (MPEPE) could soar 150% or more, driven by strong demand and growing interest in the decentralized gambling sector.

The Future of ICP and Mpeppe

The crypto market remains highly volatile, and while Internet Computer (ICP) has proven itself as a resilient and innovative player, it’s clear that many investors are also keen on diversifying their portfolios with high-potential meme coins like Mpeppe (MPEPE). With Internet Computer (ICP) breaking above its $8.50 resistance and Mpeppe (MPEPE) nearing the completion of its presale, both tokens are positioned for continued growth in the final quarter of 2024.

Investors who have already profited from ICP’s bullish run are now doubling down on Mpeppe (MPEPE), hoping to capitalize on its 150% projected growth. As the gambling coin nears its launch, it will be interesting to see how both tokens perform in the increasingly competitive crypto market.

Conclusion

For those who have benefited from the recent surge in Internet Computer (ICP), reinvesting in promising new tokens like Mpeppe (MPEPE) offers a chance to ride the next wave of explosive growth. With ICP’s strong technical performance and Mpeppe (MPEPE)’s potential for substantial returns, 2024 could prove to be a transformative year for investors in both tokens.

As always, it’s essential to conduct thorough research and consider market conditions when investing in cryptocurrencies. While the potential for gains is significant, the volatility of the market means that caution should always be exercised. However, with Internet Computer (ICP) and Mpeppe (MPEPE) showing strong momentum, these two tokens are undoubtedly ones to watch in the coming months.

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In the ever-evolving crypto market, investors are constantly seeking new opportunities that offer both security and massive growth potential. While Ethereum (ETH) remains one of the most trusted and widely used blockchains, scalability issues and high gas fees are pushing investors to explore alternatives. Two projects that have emerged as potential game-changers for the market are Starknet (STRK) and Mpeppe (MPEPE), both of which are showing dominance in current market sentiment. With potential gains of 200x, investors are taking a closer look at what makes these tokens stand out.

Ethereum Investors Seek Refuge in Starknet and Mpeppe

With Ethereum (ETH) facing challenges such as scalability issues and rising transaction costs, many of its investors are looking for projects that can provide faster, cheaper solutions without sacrificing security. Starknet (STRK), a Layer-2 scaling solution for Ethereum (ETH), is one such project that has caught the attention of institutional and retail investors alike. On the other hand, Mpeppe (MPEPE), a meme-based cryptocurrency integrated with a casino and DeFi ecosystem, is rapidly gaining popularity due to its unique combination of humor, real-world utility, and investment potential.

Starknet (STRK): Solving Ethereum’s Scalability Issues

Starknet (STRK) is a Layer-2 solution designed to help Ethereum (ETH) scale by processing transactions off-chain and settling them back on-chain. This not only reduces gas fees but also increases transaction throughput. As Ethereum (ETH) continues to grapple with scalability problems, Starknet (STRK) has emerged as a viable solution for both developers and users looking for faster and more affordable transactions.

Layer-2 Solutions Leading the Way

The rise of Layer-2 solutions like Starknet (STRK) is reshaping the Ethereum (ETH) landscape. By offering efficient off-chain processing, Starknet (STRK) ensures that Ethereum (ETH) remains competitive in a market that increasingly demands lower fees and higher speed. Investors are especially keen on Starknet’s seamless integration with Ethereum (ETH)’s ecosystem, allowing decentralized applications (dApps) to migrate with ease, benefiting from Ethereum (ETH)’s security while enjoying improved performance.

Mpeppe (MPEPE): The Meme Coin with Real Utility

While Starknet (STRK) addresses technical challenges, Mpeppe (MPEPE) has captivated the crypto community with its blend of meme culture and decentralized finance (DeFi). What started as a meme coin has now evolved into a robust platform with a casino and gaming ecosystem that offers real value to investors. Built on the viral power of memes, Mpeppe (MPEPE) leverages its light-hearted branding while offering practical features such as yield farming, liquidity mining, and NFT-based rewards.

Expanding the Meme Coin Audience

Mpeppe (MPEPE)’s viral success is largely driven by its ability to appeal to a broader audience beyond traditional crypto enthusiasts. Its accessible branding resonates with casual investors, making it one of the fastest-growing meme coins on the market. The combination of meme culture and DeFi innovation positions Mpeppe (MPEPE) as a serious contender in the crypto space, drawing attention from both retail investors and institutional players.

Why Ethereum Investors Are Flocking to Mpeppe and Starknet

Ethereum (ETH) investors are increasingly seeking alternatives that offer high growth potential. Starknet (STRK) and Mpeppe (MPEPE) have emerged as dominant forces in the market due to their unique value propositions. While Starknet provides a scalable solution for Ethereum (ETH)’s high fees and slow transaction times, Mpeppe offers investors a fun and profitable way to engage with the DeFi space through its gaming and casino features.

Integration with Ethereum (ETH)’s Ecosystem

Both Starknet and Mpeppe have strong ties to the Ethereum (ETH) ecosystem. Starknet operates as a Layer-2 solution, directly benefiting Ethereum (ETH) by reducing congestion and lowering gas fees. Meanwhile, Mpeppe runs on the Ethereum (ETH) network, offering DeFi protocols and NFTs while capitalizing on Ethereum (ETH)’s robust security features.

The Future of Starknet and Mpeppe

Both Starknet (STRK) and Mpeppe (MPEPE) are poised to continue their growth trajectories in 2024, with analysts predicting that both could deliver 200x returns for early investors. Starknet’s role in solving Ethereum’s (ETH) scalability issues makes it a long-term bet for those seeking a secure, future-proof investment. On the other hand, Mpeppe’s unique blend of meme culture and DeFi utility ensures that it will continue to capture the imagination of a growing user base.

Conclusion: Dominant Forces with 200x Potential

As the crypto market becomes increasingly competitive, investors are looking for projects that not only offer short-term gains but also long-term security. Starknet (STRK) and Mpeppe (MPEPE) have emerged as leaders in this regard, offering solutions to Ethereum’s current challenges while providing unique opportunities for growth. Whether it’s Starknet’s focus on scalability or Mpeppe (MPEPE)’s viral appeal and DeFi features, both tokens have the potential to deliver massive returns in the coming year.

For Ethereum (ETH) investors seeking refuge from high gas fees and scalability issues, Starknet offers a promising solution. Meanwhile, Mpeppe (MPEPE)’s ability to combine entertainment with profit makes it a standout investment in the meme coin space. As these projects continue to dominate the market, their 200x potential makes them must-watch tokens for 2024.

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Two cryptocurrencies that have been gaining substantial attention are Helium (HNT) and Mpeppe (MPEPE). With Helium experiencing an upward trend, bolstering community sentiment, and Mpeppe (MPEPE) standing out for its unique features, many analysts are diving into the potential of these tokens. In this article, we explore how Helium is positioning itself for future success and why Mpeppe (MPEPE) is capturing the imagination of investors looking for substantial gains.

Helium (HNT): A Steady Climb with Big Ambitions

Helium (HNT) has long been a popular token within the cryptocurrency marketplace. Initially developed as a decentralized wireless network focused on the Internet of Things (IoT), Helium has successfully expanded its ecosystem to include a variety of use cases, strengthening its position in the market. As of September 2024, Helium is trading at $7.99, with an impressive market capitalization of $1.28 billion.

Helium’s price has seen a steady climb, with a 21.63% increase in the past month alone. According to analysts, HNT could reach a potential high of $9.20 by the end of this year. However, the real excitement surrounds its long-term prospects, with predictions that Helium could hit a remarkable price of $217.84 by 2030. This projection is driven by Helium’s innovative Proof-of-Coverage mechanism and its seamless migration to the Solana blockchain, which has significantly boosted its scalability and performance.

Why Investors Are Flocking to Helium

The appeal of Helium (HNT) lies in its practical applications, particularly in the world of IoT. With its decentralized infrastructure, Helium offers an affordable and scalable solution for connecting IoT devices across the globe. The project’s recent partnership with Telefonica to expand its mobile network into Mexico is expected to further drive growth. This strategic move is likely to increase Helium’s real-world adoption, which could significantly boost the token’s value in the coming years.

As more enterprises adopt Helium’s decentralized infrastructure for mobile connectivity, the network’s utility will continue to grow, and with it, the value of HNT. The long-term outlook is optimistic, with a potential price surge to $54.13 by 2027, making it a token to watch for investors seeking exposure to the IoT and decentralized communication sectors.

Mpeppe (MPEPE): The Meme Coin That’s More Than Just a Meme

While Helium (HNT) is gaining attention for its technical innovations, Mpeppe (MPEPE) is making waves in the meme coin space for its unique blend of humor and real-world utility. Unlike other meme coins that rely solely on internet culture, Mpeppe (MPEPE) combines entertainment with decentralized finance (DeFi) features, creating a platform that appeals to both casual and serious investors.

Mpeppe (MPEPE)’s ecosystem includes yield farming, liquidity mining, and a casino gaming platform, allowing users to earn rewards and participate in the DeFi market while enjoying the lighthearted branding of a meme coin. This combination of entertainment and utility has made Mpeppe (MPEPE) a standout in the meme coin market, with many predicting substantial growth for the token in the near future.

What Sets Mpeppe Apart?

The success of Mpeppe (MPEPE) can be attributed to its strategic use of meme culture, which has attracted a large and engaged community of investors. But Mpeppe (MPEPE) goes beyond being just a meme coin. Its integration of DeFi protocols gives it real value, allowing users to stake their tokens, earn rewards, and participate in the platform’s growth. This utility has made Mpeppe (MPEPE) an attractive option for investors looking for high-reward opportunities.

In a market dominated by speculative assets, Mpeppe (MPEPE)’s ability to provide both entertainment and profit opportunities sets it apart from other meme coins. The project’s unique approach has drawn the attention of whales (large investors in the crypto space) who are betting on Mpeppe (MPEPE)’s potential for explosive growth.

Helium and Mpeppe: A Winning Combination

While Helium (HNT) and Mpeppe (MPEPE) operate in different sectors of the cryptocurrency market, both tokens have shown impressive growth potential. Helium’s focus on decentralized IoT and mobile connectivity has given it a strong foundation for long-term success, while Mpeppe (MPEPE)’s innovative use of meme culture and DeFi features has made it a favorite among younger investors.

As Helium continues to expand its network and build partnerships, its real-world utility will likely drive further price increases. Meanwhile, Mpeppe (MPEPE)’s viral success and growing community of investors position it for substantial gains in the meme coin space. Together, these two tokens represent a unique opportunity for investors looking to diversify their portfolios with assets that offer both stability and high-growth potential.

Conclusion: The Future Looks Bright for Helium and Mpeppe

Both Helium (HNT) and Mpeppe (MPEPE) are making significant strides in the cryptocurrency market. Helium has cemented its place as a leading player in the decentralized IoT space, with partnerships and innovations that could drive its price to new heights in the coming years. Meanwhile, Mpeppe (MPEPE) is redefining the meme coin landscape by offering real utility alongside its entertaining branding, making it a compelling investment for those looking to tap into the next big thing in crypto.

As Helium continues to climb and Mpeppe (MPEPE) captures the imagination of investors, both tokens are set to dominate their respective markets. For investors seeking a blend of practicality and high-reward potential, Helium and Mpeppe (MPEPE) are two tokens worth watching.

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Among the top-performing crypto assets over the past week is Internet Computer (ICP), which has shown impressive gains of 12.40%. Alongside ICP’s rise, Mpeppe (MPEPE) has also caught the attention of savvy investors, with speculation about its potential for massive gains.

This article will dive into the current price action of ICP, explore key levels to watch, and assess why both Internet Computer and Mpeppe are on the radar of market watchers.

Internet Computer (ICP): Price Analysis and Predictions

The price of Internet Computer (ICP) has been on a notable uptrend in the past few days, peaking at $9.1 before facing rejection. After touching that weekly high, the token pulled back to $8.5 at the time of writing. Despite this slight decline, the overall sentiment remains bullish as Internet Computer (ICP) managed to record a 14% weekly gain.

However, recent price action suggests that Internet Computer (ICP) is in a neutral-bearish trend, meaning that while the price has been rising, it has yet to break key resistance levels. The token must break above $9 and challenge $10 before a more substantial rally can occur. If Internet Computer (ICP) surpasses $11—the high it hit in July—it could confirm a stronger bullish move.

As Internet Computer (ICP) navigates through these levels, the $6.8 and $5.81 levels are acting as solid support on the daily chart. If the price falls below these points, we may see a drop to $4 before a potential rebound. While the volatility remains relatively low for Internet Computer (ICP), any significant price movement could trigger a more volatile breakout.

The Bullish Sentiment: Key Resistance and Support Levels for ICP

For Internet Computer (ICP) to continue its current uptrend, the next significant challenge is the $8.96 resistance level. A successful break could propel the token toward $10 or even $11, the resistance it encountered in July. But if the market fails to sustain the bullish momentum, the price may continue to hover around the $7 mark, trading sideways for the next few days until the market chooses a clear direction.

Key resistance levels for ICP:

• $8.96
• $10
• $11

Key support levels:

• $6.8
• $5.81
• $4

Given the current technical indicators, a breakout to $10 or higher could drive further buying interest in ICP, making it one of the top-performing assets of 2024. Investors should keep a close eye on these key levels to make informed trading decisions.

Mpeppe (MPEPE): Gaining Traction Among Investors

While Internet Computer (ICP) continues to dominate headlines with its recent price surge, Mpeppe (MPEPE) is emerging as a potential high-growth investment. With the token currently priced at $0.0021, Mpeppe (MPEPE) has completed over 80% of Stage 4 in its presale, attracting the attention of both retail and institutional investors.

What makes Mpeppe (MPEPE) particularly intriguing is its unique approach to decentralized finance and meme coin culture. Similar to the rise of Dogecoin and Shiba Inu, Mpeppe (MPEPE) has the potential to capitalize on market trends, offering significant upside for early adopters.

Recent whale activity, including purchases from investors who have previously profited from ICP, signals that major players in the market are beginning to see Mpeppe (MPEPE) as a viable option for massive returns. Experts predict that Mpeppe (MPEPE) could deliver 150x returns after its presale concludes and it begins trading on major exchanges.

Why Now Is the Time to Consider ICP and Mpeppe

With both Internet Computer (ICP) and Mpeppe (MPEPE) showing strong potential, now could be the ideal time for investors to consider adding these tokens to their portfolios. Here are three reasons why:

1. Bullish Sentiment Around ICP: Despite facing some resistance, Internet Computer is in a strong position to break out of its current range. If it can push past $9 and hold support at key levels, the token could experience a major rally in the coming weeks.
2. Mpeppe’s Explosive Growth Potential: Mpeppe (MPEPE) is still in its presale phase, offering investors the chance to get in at a ground-floor price. With the token nearing its exchange launch, experts believe it could deliver massive gains, making it a high-reward investment.
3. Whale Activity in Both Tokens: Major crypto investors are actively accumulating both ICP and Mpeppe (MPEPE), signaling confidence in the long-term potential of these assets. Whale purchases often precede significant price movements, making now a strategic time to invest.

Conclusion

As the crypto market continues to evolve, Internet Computer (ICP) and Mpeppe (MPEPE) are emerging as top contenders for 2024’s best-performing assets. While ICP has already proven its resilience by staying above key support levels, Mpeppe (MPEPE) offers investors the chance for explosive returns as it approaches its exchange listing. For those looking to diversify their portfolios with a mix of stability and high-growth potential, both ICP and Mpeppe are worth serious consideration.

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An analysis by the on-chain analytics platform Santiment recently revealed the current sentiment in the Dogecoin (DOGE) and Shiba Inu (SHIB) ecosystems. This has also provided insights into the future trajectory of these meme coins, as a rebound could be imminent. 

Shiba Inu Investors Are Bearish On The Meme Coin

In the market analysis, Santiment highlighted how Shiba Inu investors are currently bearish on the meme coin. This is based on the level of social discussion toward Shiba Inu, which has been “extremely low” since late July. This metric is said to have declined throughout this year as the bearish outlook toward Shiba Inu rises. 

The analysis noted that this feeling of indifference and frustration among Shiba Inu investors is understandable, considering how smaller retail traders have been offloading their SHIB holdings in a hurry. Data from the market intelligence platform IntoTheBlock also confirms that these retail investors aren’t as bullish as expected. Shiba Inu whales continue to account for almost 60% of the meme coin’s supply.

Santiment stated that, unlike Dogecoin, Shiba Inu’s retail traders are showing “tremendous relief.” The accompanying chart showed that the percentage of supply held by wallets with less than 1 billion SHIB is at its lowest since November 2022. The analysis claimed that this indicates a significant level of FUD occurring on the network, with Shiba Inu whales holding the vast majority of the supply. 

The bearish sentiment among these Shiba Inu investors could also be due to the coin’s underperformance this year. Santiment remarked that the meme coin has “essentially performed as a worse-performing Dogecoin in 2024.” The 30-day average trading returns are down at around -1.1%. On the other hand, the long-term returns have declined drastically to -31.7%. 

This bearish outlook for Shiba Inu could change soon enough as Bitcoin enjoys a bullish reversal. Data from IntoTheBlock shows a strong positive price correlation between the meme coin and the leading crypto. As such, Shiba Inu is bullish whenever Bitcoin is. 

Dogecoin Traders Remain Undecided About Their Next Move

Dogecoin retail traders are said to have remained indecisive about the meme coin throughout this year. Wallets with less than 1 million DOGE hold about 11.8% of the coin’s supply, essentially the same level at the beginning of the year. As such, Santiment noted that there isn’t any sign of FOMO to suggest that these small traders are accumulating Dogecoin. 

Meanwhile, although Dogecoin benefitted from the hype around Tron meme coins in August, this wasn’t reflected in its price. Since then, the ratio of DOGE’s discussions against all crypto discussions has dropped to 1.28%. Sentiment is at break-even, which Santiment noted is a good sign that FOMO has quickly settled down. The analysis added that if impatience and FUD come next, it would be a good sign of a turnaround. 

The cryptocurrency world is abuzz with fresh developments as Ethereum (ETH) whales, who have been quietly accumulating the cryptocurrency for years, are now making strategic moves into promising new tokens. Among them, Mpeppe (MPEPE) has garnered significant attention due to its immense growth potential, with some experts hinting that Mpeppe could offer 150x returns in the near future.

Ethereum (ETH) Whales Keep Accumulating

Ethereum (ETH) whales, or large holders of the cryptocurrency, have long been the dominant force behind Ethereum’s price movements and overall market direction. Since 2019, these whales have been steadily accumulating ETH, increasing their control over the circulating supply of the second-largest cryptocurrency by market capitalization. According to data from IntoTheBlock, Ethereum whales now control a staggering 43% of Ethereum’s total supply.

This accumulation has notably accelerated after Ethereum’s Shanghai upgrade in early 2023, which allowed for the withdrawal of staked Ether. With staked ETH now more liquid, whales have not only maintained but increased their holdings, approaching the 48% threshold currently held by retail investors. These whales have shown a long-term commitment to the asset, even as Ethereum (ETH) has underperformed relative to Bitcoin (BTC), rising only 1.4% this year compared to Bitcoin’s 33.6% surge.

Ethereum’s Price Outlook

While Ethereum (ETH) has faced criticism for its slow price movement in 2024, prominent cryptocurrency analyst Benjamin Cowen suggests that Ethereum’s price could still surge dramatically. Cowen has noted that Ethereum’s price action in recent months has mirrored its behavior in 2016, hinting at the potential for a similar breakout. Back in 2016, Ethereum saw a staggering 12,200% increase, rising from under $11 to over $1,360 within two years. If history repeats itself, Ethereum could hit $30,000 in the next major bull run.

While this forecast excites ETH holders, it’s important to remember that the cryptocurrency market is highly volatile. Past performance does not guarantee future results, and unexpected events could disrupt even the most promising outlooks.

Why Whales Are Flocking to Mpeppe (MPEPE)

Amidst their ongoing accumulation of Ethereum (ETH), some whales are now diversifying their holdings by entering the Mpeppe (MPEPE) presale. This new cryptocurrency has gained attention for its innovative approach and strong community backing, positioning itself as a major player in the emerging gambling and meme coin sector.

Priced at $0.0021 during its presale, Mpeppe (MPEPE) has already attracted millions in investments from Ethereum whales, who see its potential to generate outsized returns in the short to medium term. What makes Mpeppe (MPEPE) especially appealing is its focus on creating a decentralized gambling ecosystem, combining the entertainment value of meme coins with a profitable utility platform. With the project already 72% through its presale stage, momentum is rapidly building.

Mpeppe’s 150x Growth Potential

What’s capturing the attention of Ethereum whales is Mpeppe (MPEPE)’s 150x growth potential. Industry experts have analyzed Mpeppe (MPEPE)’s unique position in the cryptocurrency market and concluded that it could offer returns that rival even the most successful meme coins in recent history. Given that Ethereum whales are known for their strategic, long-term approach to investments, their involvement in Mpeppe (MPEPE) suggests confidence in the token’s future.

For whales, the appeal lies in Mpeppe (MPEPE)’s combination of low entry price and strong community support, both of which are essential factors for explosive growth. The decentralized gambling space is ripe for disruption, and Mpeppe (MPEPE)’s innovative platform could make it a major player in this sector, positioning it for rapid price appreciation once it hits public exchanges.

Ethereum and Mpeppe: A Strategic Combination

With Ethereum whales quietly accumulating more ETH while also diversifying into Mpeppe (MPEPE), investors are paying close attention to this strategic combination. The slow but steady accumulation of Ethereum (ETH) by whales suggests that they believe in its long-term potential, particularly as upgrades to Ethereum’s network, such as Sharding, continue to enhance scalability.

At the same time, the whales’ move into Mpeppe (MPEPE) shows a willingness to high-potential altcoins. For investors looking to maximize their returns, combining a stable, long-term asset like Ethereum (ETH) with a high-growth opportunity like Mpeppe (MPEPE) could offer the best of both worlds: stability with ETH and explosive upside with Mpeppe (MPEPE).

Conclusion: A Winning Formula

The cryptocurrency market is constantly evolving, and whales are known for their ability to spot winning opportunities early. Their continued accumulation of Ethereum (ETH), coupled with strategic investments into Mpeppe (MPEPE), signals a strong belief in the future potential of both assets. While Ethereum provides the stability of a well-established blockchain, Mpeppe offers the excitement and profitability of a new and innovative project in the gambling sector.

As the presale for Mpeppe nears completion and the token prepares for its public debut, the growing interest from Ethereum (ETH) whales could be the catalyst for the next big price surge. Whether you’re an ETH holder or a newcomer to Mpeppe, now might be the perfect time to get in on what could be the next major success story in the crypto world.

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As the crypto market picks up momentum, two rising tokens are capturing the attention of savvy investors: Sui (SUI) and Mpeppe (MPEPE). Both cryptocurrencies are showing strong growth, with Sui (SUI) inching closer to the critical $1 mark and Mpeppe (MPEPE) moving steadily toward its target price of $0.00235, having already completed 80% of its presale.

Sui (SUI) Continues to Surge

Sui (SUI) has become one of the most talked-about cryptocurrencies in the market today. After a strong performance in recent weeks, the token has surged by 17%, crossing the psychological barrier of $1. For investors who have been following Sui (SUI), this is a major milestone. In August, the $1 mark acted as strong resistance, but with the recent breakout, Sui’s price action suggests bullish momentum on the horizon.

Sui (SUI) has been consistently performing well, even while Bitcoin and Ethereum experienced more volatility. Crypto trader Kong, with a following of over 130k on X, has identified key technical indicators on the Sui (SUI) chart, suggesting further gains in the near term.

Sui (SUI) Technical Breakdown

A closer look at Sui (SUI) reveals several technical patterns, the most prominent being an inverse head and shoulders pattern, which has already completed its breakout. This pattern is a strong indicator of a bullish reversal, and the breakout has propelled Sui (SUI) forward. Key support levels are identified around $0.85–$0.90, but with buying pressure mounting, Sui (SUI) is expected to hold these gains.

Traders are keeping an eye on the $1.20 and $1.50 resistance levels as potential targets for the next leg of the rally. If Sui (SUI) continues this upward trend, long-term price targets in the $2.00–$3.00 range could become more feasible as we move into 2024.

Mpeppe (MPEPE): The Next Big Play?

While Sui (SUI) captures the limelight with its bullish technical indicators, Mpeppe (MPEPE) is making waves of its own. Known for its decentralized gambling platform, Mpeppe (MPEPE) has drawn significant interest from crypto enthusiasts as it completes 80% of Stage 4 in its presale. Investors are eagerly awaiting the coin’s anticipated surge as it inches closer to its $0.00235 target price.

Early investors in Mpeppe (MPEPE) are bullish on its potential for explosive gains, with some speculating that it could deliver up to 150x returns once fully launched. With its presale moving quickly, Mpeppe (MPEPE) is poised to be one of the standout tokens of 2024, attracting whales and retail investors alike.

What’s Next for Sui (SUI) and Mpeppe (MPEPE)?

Both Sui (SUI) and Mpeppe (MPEPE) are in strong positions to capitalize on market momentum as we approach the final quarter of 2024. For Sui (SUI), the bullish breakout has traders eyeing $1.20 and $1.50 as the next key resistance levels. If Sui (SUI) can maintain this momentum, it could easily challenge higher targets by the end of the year.

Mpeppe (MPEPE), meanwhile, continues to build excitement in the crypto community as it moves closer to the end of its presale. The combination of strong fundamentals and market hype has made Mpeppe (MPEPE) one of the most exciting new tokens in the decentralized gambling space, with potential for massive gains in 2024.

Conclusion

As Sui (SUI) climbs past the $1 mark and Mpeppe (MPEPE) approaches its $0.00235 price target, both tokens are showing impressive growth potential. With strong support from traders and investors, Sui (SUI) and Mpeppe (MPEPE) could be among the top-performing cryptocurrencies in 2024. Keep a close eye on these tokens, as they offer promising opportunities for significant returns in the near future.

For more information on the Mpeppe (MPEPE) Presale: 

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