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Whale dumps $3 million worth of INJ and buys LDO

  • The whale sold over 150k Injective (INJ) tokens worth over $3.29 million.
  • According to Lookonchain, the whale acquired 2.44 million Lido DAO (LDO) worth over $3.05 million.
  • INJ price dipped slightly while LDO rose

A whale has sold a significant amount of Injective (INJ) and bought more Lido DAO (LDO) tokens.

On Wednesday, Sept. 25, Lookonchain shared on-chain details that showed the whale dumped 150,428 INJ valued at $3.29 million. The whale swapped the INJ for 2.44 million LDO valued at more than $3.05 million.

Per Lookonchain, the whale sold their INJ for LDO via crypto liquidity provider Cumberland.

Injective price

Injective (INJ) is layer 1 blockchain decentralized finance applications. The Binance and Mark Cuban-backed interoperable L1 blockchain currently ranks as the 49th largest cryptocurrency by market at $2.1 billion.

The price of Injective’s native token fell 3% to trade near $21.24. INJ trading lower also saw weekly gains shrink to around 14%, while Injective is now down 1.4% in the past month. Notably, INJ reached highs of $22.70 on Tuesday, hitting the resistance level seen on August 24.

INJ price however reached $52.62 on March 14, 2024 and its currently positioned nearly 59% off that level.

Lido DAO price

With the LDO purchase, the whale’s showing their bullish projection for Lido. Growth for the decentralized finance platform – a market leader in Ethereum staking – may be among catalyst.

The Lido DAO price was up 2.6% in the past 24 hours to change hands at highs of $1.29 earlier in the day. LDO is among the top gaining tokens with +29.7%  this past week.

LDO price was at $1.26 at the time of writing.

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SUI price surges as TVL hits $1.3 billion

  • Sui has seen a more than 44% spike in price in the past week and 65% in 30 days.
  • Gains come after the Grayscale Sui Trust opened for accredited investors.
  • The SUI network’s total value locked has surpassed $1.34 billion.

SUI price has surged by more than 44% in the past week to trade above $1.67. The gains include a more than 65% spike in the past 30 days. This sees the native token of the layer 1 blockchain platform reach highs last seen in early April.

What catalyzed SUI price surge?

Sui has experienced a notable surge in volume after Grayscale announced its Sui Trust was now open to accredited investors.

Daily volume for SUI skyrocketed after the news, and price followed, hitting levels above $1.

SUI price on CoinMarketCap

Sui’s price rally to above $1.67 has also coincided with a sharp increase in total value locked in various decentralized finance protocols in the Sui ecosystem. OKX Ventures pointed to the Grayscale Sui Trust’s boost to SUI market credibility as institutional interest emerged.

Sui TVL hits $1.3 billion

The bullish sentiment around this outlook is showing in the on-chain activity that has the TVL hitting $1.34 billion.

According to DeFiLlama, Sui’s TVL rose from about $250 million at the start of 2024 to cross $1 billion in May. However, it dropped to $462 million on Aug. 5 amid the cryptocurrency market crash that pushed Bitcoin price below $50k.

Notable though is the spike back to $1 billion and acceleration to $1.34 billion in less than a month. It means a more than 377% spike year-to-date and 47% month-to-date.

Sui’s growing DeFi ecosystem that’s behind this surge include increased adoption for protocols across lending, decentralized exchanges, real-world assets, derivatives and yield.

Navi Protocol has seen its TVL increase 34% month-to-date to over $449 million.

Lending protocols Scallop and Suilend have respective TVL readings of $246 million and $203 million. It represents a 34% and 100% MTD spike respectively.

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Travala integrates Solana, enabling bookings via SOL, USDT, and USDC

  • Travala has integrated Solana, allowing hotel and flight bookings via SOL, USDT, and USDC.
  • Travala users will enjoy zero-fee transactions and direct deposits/withdrawals for supported tokens.
  • Travala plans to introduce SOL travel rewards to enhance user experience in crypto travel bookings.

Travala, a pioneering cryptocurrency-based travel agency, has taken a significant leap forward by integrating the Solana blockchain into its platform.

This groundbreaking partnership was announced by Travala CEO Juan Otero during the Solana Breakpoint conference in Singapore on September 21.

The announcement has been met with enthusiasm from the crypto community, as many see it as a step toward a more integrated and user-friendly travel experience.

Travala users can book flights and hotels using Solana native tokens

The integration opens up new possibilities for travelers, allowing them to book hotels and flights using Solana’s native token, SOL, and major stablecoins like Tether (USDT) and USD Coin (USDC).

The integration of Solana marks a strategic move for Travala, which has long been at the forefront of accepting cryptocurrency payments in the travel sector. With this enhancement, users can now enjoy zero-fee transactions when booking travel services.

Additionally, Travala enables direct deposits and withdrawals of the supported tokens, streamlining the booking process and making it more efficient for crypto enthusiasts.

Solana, known for its high-speed transactions and lower fees compared to its competitor Ethereum, provides a robust infrastructure for decentralized applications and smart contracts. This integration aligns well with Travala’s commitment to enhancing user experience and leveraging blockchain technology for seamless transactions.

Plans to introduce SOL travel rewards

The growing popularity of Solana as a layer-1 blockchain further underscores its potential in the crypto landscape.

In the near future, Travala plans to introduce SOL travel rewards, adding an extra incentive for users to utilize cryptocurrency for their travel bookings.

Moreover, this development coincides with Coinbase’s announcement to bring its wrapped Bitcoin asset, cbBTC, to the Solana network, further solidifying Solana’s role in the evolving cryptocurrency ecosystem.

As more companies embrace blockchain technology, the intersection of travel and crypto promises to unlock exciting opportunities for travelers and investors alike.

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FTM, AAVE, TAO see double-digit gains as Bitcoin retests $57k

  • Fantom (FTM), Bittensor (TAO) and Aave (AAVE) are among the biggest gainers in the past 24 hours.
  • The altcoins are seeing the most upside action in the top 100 coins by market cap as of 4pm ET on September 9.
  • Meanwhile, Bitcoin (BTC) has bounced above $57,000 after revisiting sub-$54k over the weekend.

FTM, AAVE and TAO tokens are all up double digits, with Bittensor price up more than 16% to change hands above $286. Meanwhile, Fantom price was trading above $0.46, up nearly 14% at the time of writing, and Aave price hovered near $142 with the DeFi token’s value up more than 13% in the past 24 hours.

Bitcoin price bounces above $57k

Bitcoin’s bounce to above $57,000 follows Monday’s upward action after BTC dropped to below $54k over the weekend. While the flagship cryptocurrency remains in a bearish hold with the Fear & Greed Index in extreme fear, analysts are bullish on long term prospects.

As highlighted earlier, Bernstein analysts see the US election as a key factor in the short term. A win for Donald Trump could mean a price explosion to above $80k.

On the flipside, Kamala Harris winning could catalyse a downward move to lows of $30k.

FTM, TAO and AAVE tokens surge

The Bittensor token soared when Grayscale unveiled the AI tokens fund, allowing for exposure to top artificial intelligence tokens like Render (RNDR), Filecoin (FIL), and Near (NEAR). While the latest surge occurred amid a broader market spike, TAO looks to have hit an upward gear as fresh network developments highlighted TAO staking and delegation.

Meanwhile, FTM is soaring as the community cheers developments around Sonic Labs. The Sonic testnet has achieved key milestones, while Fantom founder Andre Cronje believes the Sonic blockchain network could tap into an $11 trillion market that’s the unsecured lending industry.

On the other hand, AAVE price looked to bounce after a dedicated Ether.fi (ETHFI) market went live on Aave. The deployment allows users to borrow stablecoins, including USDC, PYUSD and FRAX against their liquid staking tokens weETH.

weETH is among the liquid restaking tokens that are enabling DeFi strategies such as leveraged ETH staking. Aave already has a dedicated market like this on the top Ethereum staking platform Lido.

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Toncoin bounces back above $5, next target at $6.19

  • Toncoin rebounds above $5 after Pavel Durov’s release and public reassurance.
  • Trading volume has surged by over 148%, boosting interest in both spot and futures markets.
  • Resistance at $5.51; a breakout could push TON to its next target of $6.19.

Toncoin (TON), the native cryptocurrency of the Toncoin blockchain, has experienced significant volatility in recent weeks, driven by developments surrounding Telegram and its founder Pavel Durov. After a sharp price drop following Durov’s arrest in France, the coin has rebounded above $5.

With its next resistance level at $6.19, investors are watching closely as technical indicators suggest a short-term bearish sentiment, despite renewed optimism.

Why is Toncoin price rising?

Toncoin faced a tumultuous period following the arrest of Telegram CEO Pavel Durov in late August. The close association between TON and the popular messaging platform resulted in the token shedding over 30% of its value in a matter of weeks, dropping as low as $4.45.

Concerns over the future of Telegram and its potential impact on TON drove much of the downward momentum.

However, recent developments have led to the slight price recovery. Durov’s release on parole and his public statements addressing the arrest have sparked renewed interest in the asset.

In his comments, Durov criticized the French authorities’ approach to his arrest and reassured Telegram’s 950 million users about the platform’s future.

Durov’s comments, combined with a revamped Telegram privacy policy that includes moderating private chats, have given TON the boost it needed to bounce back above $5.

In addition to the positive sentiment from Durov’s release, Toncoin’s trading volume surged by over 148%, reflecting increased activity in both spot markets and perpetual futures.

TON price technical analysis

From a technical analysis perspective, Toncoin’s short-term outlook remains bearish. Out of 17 technical indicators, 10 are signaling a sell, while only 2 recommend a buy.

Despite the slight recovery, the coin is still below several key exponential moving averages (EMAs), including the 20, 50, 100, and 200-day EMAs. However, it has managed to stay above the 10 EMA.

While the recent bounce pushed TON above the key $5 level, technical analysis suggests that it faces resistance at $5.51, which must be cleared for further upward movement.

A successful close above $5.51 will open the door to a potential rally toward $6.19.

Conversely, failure to hold above $5 may see TON test its support at $4.94, with further declines likely if it breaks below that level.

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