Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Ethereum staking skyrockets as whales aggressively accumulate ETH

  • Ethereum is poised above $2,500 amid massive whale accumulation
  • Also signaling bullish sentiment is the surge to 35 million staked ETH for Ethereum staking.
  • The Ethereum price could rally amid multiple catalysts.

Ethereum (ETH) is witnessing a significant surge in staking activity, underpinned by aggressive accumulation from large holders.

As whales up their buying pressure, Ethereum’s price has shown greater resilience above the $2,500 level.

According to CoinMarketCap, ETH traded around $2,549,  down 2% and 7% in the past 24 hours and week respectively. However, the top altcoin remained above the crucial level and was seeing massive whale buying.

Crypto analysts from glassnode and CryptoQuant point out that the whale behaviour and spike in ETH staking could be a massive upward momentum driver for the altcoin.

Notably, accumulation of the second-largest cryptocurrency by market cap is hitting levels last seen in 2017, while strategic positioning via staking has pushed the total ETH staked to fresh all-time highs.

Ethereum whale accumulation skyrockets to 800k daily

Data from Glassnode highlights a remarkable trend, with Ethereum whales accumulating over 800,000 ETH daily for nearly a week, culminating in a record 871,000 ETH net inflow on June 12—the highest single-day figure year-to-date.

This cohort of addresses now controls 27% of the total ETH supply, a level of concentration that has historically preceded major market breakouts.

Glassnode’s data shows a sharp increase in whale net position change since early June, correlating with a gradual rise in ETH’s price from its recent lows. This accumulation echoes the strategic buying seen in 2017, a period that preceded a significant bull run.

“For nearly a week, daily whale accumulation has exceeded 800K ETH, pushing holdings in 1k–10k wallets to >14.3M ETH. On June 12 alone, Ethereum whales have added over 871K ETH – the highest daily net inflow YTD,” Glassnode noted. “This scale of buying hasn’t been seen since 2017.”

Market analysts suggest that institutional demand, fueled by ETF filings and new derivatives liquidity tools, alongside bullish social sentiment, is driving this activity.

While technical indicators such as the Moving Average Convergence Divergence suggest possible weakness, many of the technical factors favour buyers.

ETH staking surges

While Ethereum price has stagnated since attempting to reclaim its all-time high above $4k, on-chain data shows holders want to earn from their assets.

This sees the Ethereum staking ecosystem witness a notable spike in activity – particularly from long-term holders. On June 17, 2025, CryptoQuant shared details of what analysts say is a spike in ETH staking to all-time high levels.

Per Onchain School, ETH has hit an ATH in staking with more than 35 million locked.

“Alongside this, Accumulation Addresses (holders with no history of selling) have also reached an all-time high, now holding 22.8 million ETH,” the analyst noted.

Staking allows token holders to lock their ETH and earn rewards as they support the network. This reduction in circulating supply has in the past week helped Ether tokens hold onto gains.

The post Ethereum staking skyrockets as whales aggressively accumulate ETH appeared first on CoinJournal.

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Polyhedra’s ZKJ token collapses following ‘abnormal on-chain activity’

  • The Polyhedra Network (ZKJ) token has plunged 91% after abnormal on-chain activity.
  • Binance has blamed whale exits and a liquidation cascade for the token crash.
  • The upcoming June 19 token unlock may trigger further price drops.

The cryptocurrency market has once again been rocked by a dramatic price collapse, this time involving Polyhedra Network’s native token, ZKJ.

The ZKJ token has suffered an unprecedented decline of over 91% in less than 24 hours, sending shockwaves across exchanges and drawing scrutiny from regulators, investors, and analysts alike.

ZKJ, which had been trading steadily around $2.00 for over a month, crashed to a record low of $0.2676 on June 15, 2025, wiping out nearly $500 million in market capitalisation.

ZKJ token crash

This price crash has raised serious concerns over liquidity risks, tokenomics structure, and the influence of large holders in decentralised finance.

What caused the sudden Polyhedra Network (ZKJ) price collapse?

The ZKJ price collapse began early on June 15 when Polyhedra Network posted on X (formerly Twitter) that a wave of “abnormal on-chain transactions” had struck the ZKJ/KOGE trading pair.

Within hours, the token’s price plummeted by more than 83%, as market participants scrambled to understand what had triggered the meltdown.

Binance later weighed in, attributing the collapse to a liquidity crisis stemming from large-scale withdrawals involving KOGE, a token closely paired with ZKJ.

According to the exchange, these withdrawals created a “liquidation cascade” as major wallets began offloading their holdings.

As KOGE’s USDT pool was drained, traders moved their assets into the ZKJ/USDT pool, which quickly became overloaded.

This sudden shift overwhelmed the system, accelerating the sell-off and deepening the decline in ZKJ’s value.

Massive withdrawals and whale activity

Blockchain data has revealed several wallets that had been actively farming Alpha Points before the crash.

One wallet alone withdrew more than $3.7 million in KOGE and $530,000 in ZKJ.

Two other wallets combined pulled out nearly $5 million, further intensifying the downward spiral.

These actions suggest the involvement of large holders, commonly known as whales, whose exits likely triggered cascading liquidations across leveraged positions.

As prices tumbled, margin calls were activated, leading to forced liquidations that compounded the selling pressure.

Although some community members have speculated about foul play, no leading blockchain analytics platform has verified such claims.

Polyhedra, for its part, insists it is conducting a thorough review and maintains that its core technology remains unaffected.

Binance has altered its Alpha Points rules for ZKJ and KOGE

In response to the unfolding situation, Binance announced a major change to its Alpha Points rewards program.

Starting June 17, trades between Alpha tokens, including ZKJ and KOGE, will no longer count toward Alpha Points calculations.

This policy shift is aimed at reducing systemic risk and discouraging concentrated trading behaviors that can lead to abrupt market failures.

Binance’s decision is being viewed as a proactive step to restore market integrity and reduce manipulation.

Upcoming token unlock adds to the bearish pressure

Further adding to investor anxiety is the imminent unlock of 15.5 million ZKJ tokens scheduled for June 19.

Valued at approximately $10 million, this unlock could flood the market with fresh supply at a time when confidence is already severely shaken.

Given that this represents more than 5% of the current circulating supply, market analysts warn that another sharp drop could occur if holders rush to sell upon unlocking.

The timing could not be worse for a token already reeling from its steep fall.

The post Polyhedra’s ZKJ token collapses following ‘abnormal on-chain activity’ appeared first on CoinJournal.

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Hyperliquid price surges to all-time high with TVL crossing $2 billion

  • Hyperliquid (HYPE) trades above $44 after hitting a new all-time high.
  • A rally of over 11% in the last 24 hours has bulls in control as open interest also reaches a new ATH.
  • The technical picture suggests a possible breakout above $50, but can bulls go for $100 in coming days?

Hyperliquid (HYPE) price jumped to a new all-time high above $44.76 on June 16, 2025, allowing buyers to push into price discovery mode.

The gains for HYPE came amid an 11% surge in 24 hours and over 25% rally in the past week.

With Hyperliquid trending as one of the top coins in the market, open interest is rising and a bullish setup suggests a spike above $50 is possible.

An innovative DeFiLlama infrastructure and aggressive token buyback are some of the bullish catalysts for Hyperliquid.

HYPE price soars to new all-time high

As of writing, the native token of this layer 1 blockchain for decentralized finance (DeFi), hovers around $44.36. However, as per CoinMarketCap, HYPE price surged to an all-time high of $44.76 in early trading on Monday.

The upside coincides with a sharp spike in total value locked (TVL), which currently exceeds $2.24 billion.

DeFiLlama data shows Hyperliquid TVL has increased nearly 7% in the past 24 hours. On June 11,2025, the Hyperliquid TVL stood around $1.7 billion.

The project’s growing ecosystem, with a crucial stablecoin architecture and thriving developer community, adds to the bullish outlook.

As HYPE price hit its new ATH above $44.7, a whale with a long position of 4x leverage increased their profits. OnChain Lens noted the whale’s floating profit hovered at over $13.7 million at the time.

Hyperliquid price prediction: Is $100 next?

Open interest, huge trading volume and increased institutional interest are all factors that see HYPE’s price hover at its all-time highs.

Coinglass data shows derivatives volume for HYPE has jumped 29% to over $1.8 billion.

Meanwhile, OI is above $2 billion with a more than 15% spike. This optimism about Hyperliquid’s price potential also aligns with signals from key technical indicators.

On the daily chart, the 14-day Relative Strength Index (RSI) stands at 69. This means a market that’s not overbought yet. In this scenario, buyers have room for fresh gains.

Also backing this outlook is the Moving Average Convergence Divergence (MACD), which offers a bullish momentum as MACD line trends above the signal line.

HYPE price on daily chart by TradingView

In a bullish case, the short-term picture is for a decisive spike above $50 and potential run to the psychological $100 mark.

Notably, HYPE could rally much higher in 2025 amid further adoption of its decentralized applications and attractive financial incentives.

On the flipside, profit taking could force bulls to defend the $40 and $32 price levels.

The post Hyperliquid price surges to all-time high with TVL crossing $2 billion appeared first on CoinJournal.

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POL price surges as Sandeep Nailwal assumes Polygon Foundation CEO role

  • Polygon token POL (formerly MATIC) price rose to highs of $0.24 on Wednesday.
  • Gains came as Polygon co-founder Nailwal Sandeep announced he had taken control as the new Polygon Foundation CEO.
  • Overall crypto bounce also helped POL price higher.

The Polygon ecosystem token, POL (formerly MATIC), has seen a notable price increase in the past 24 hours amid news co-founder Nailwal Sandeep is now the new chief executive officer of Polygon Foundation.

Per data from CoinMarketCap, the price of POL was up 6% and at around $0.23 at the time of writing on June 11, 2025.

The ex-MATIC token’s value reached a high of $0.24 as the daily trading volume rose 48% to over $185 million.

POL’s market cap stood at around $2.45 billion.

Polygon jumps with other altcoins

POL price jumped amid overall gains for top altcoins and Bitcoin’s rally to $110k.

Ethereum, Solana, and XRP were among the top gainers, as was Stellar’s price.

However, more than the altcoin surge, the uptick in POL token’s price coincided with significant leadership changes at the Polygon Foundation.

Notably, Polygon co-founder Sandeep Nailwal announced on June 11 that he was assuming full control of Polygon Foundation as CEO.

The move comes a few weeks after co-founder Mihailo Bjelic became the third of four co-founders of Polygon to leave the project.

Bjelic stepping down from the Polygon Foundation saw him join Jaynti Kanani and Anurag Arjun, who were the first two to exit.

Nailwal’s move therefore signals a massive strategic pivot for Polygon.

Bulls were also looking to extend gains as Polygon eyes further growth following key growth metrics in May.

Among top wins for the ecosystem in the month was the spike in total transfers, which increased by 20%, from $67.4 million in April to over $81 million.

Meanwhile, transfer volume rose 5.3% to $141 billion over the month, and active addresses surged 16.3% to 5.6 million.

An increase in stablecoin supply, with the metric up 8.2% in May to $2.1 billion, also pointed to massive interest.

This has contributed to POL’s price breaking below $0.22.

Polygon Foundation’s first CEO

In a detailed post on X, Sandeep Nailwal mentioned that he’s Polygon’s largest POL holder and a driving force behind its development.

He is now the first CEO of Polygon Foundation, Sandeep noted.

“I’ve always stayed away from moving into the CEO role because I’ve been focused on building PF as an institutionally governed foundation. But right now, Polygon needs clear direction and focused execution, and that means stepping up,” the Polygon co-founder wrote on X.

Nailwal’s leadership will see him oversee multiple entities around Polygon, including Polygon Labs, which will continue to be under the current CEO, Marc Boiron.

While there are many areas of focus for Polygon Foundation under Nailwal, the new CEO notes that the team will deprecate the Polygon zkEVM platform.

It means a zeroing in on both Polygon PoS and the Agglayer.

Polygon PoS will target stablecoin payments and real-world assets (RWAs), while Agglayer aims to build a “trustless Internet of Blockchains.”

Meanwhile, Agglayer v0.3, set to roll out the week of June 30, 2025, will be feature-complete except for fast interoperability, slated for completion by Q3’s end.

The Agglayer Breakout program will spin off projects, including Polygon ZisK, led by Jordi Baylina, fostering airdrops for POL stakers.

“With a healthy treasury and several hundred million in cash, we’re in a great position to keep building for the long term, without any distractions or pressure to raise,” Nailwal added.

POL price reached highs of $1.29 in March 2024.

The post POL price surges as Sandeep Nailwal assumes Polygon Foundation CEO role appeared first on CoinJournal.

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Vaulta (A) continues downward spiral under market pressure

  • Vaulta price slipped nearly 3% to extend its losses over the week.
  • The token’s price movement aligns with a broader altcoin sentiment
  • Despite the downturn, Vaulta could bounce higher amid multiple key catalysts.

Vaulta (A), the native token of the rebranded EOS network now focused on web3 banking solutions, has seen its price slip in recent trading sessions.

As of writing, June 9, 2025, Vaulta’s price stands at approximately $0.56 reflecting a 2.8% decline in the past 24 hours.

Over the past week and month, the token has faced even steeper losses, dropping by 10% and 26% respectively since dipping from highs of $0.77 on May 28, 2024.

This downward movement comes amid broader market dynamics and specific factors impacting Vaulta.

Why is Vaulta price down today?

Although the broader market continues to feel the bearish heat of risk assets sell-off, a number of factors are likely why Vaulta’s price is down today.

First, profit-taking appears to be a significant driver. EOS rebranding to Vaulta and subsequent token swap provided investors with an opportunity to cash in gains.

This selling pressure, as is often the case with uptrends, comes after Vaulta garnered attention for its web3 banking ambitions.

The rebrand, announced in March and completed by late May, initially sparked optimism, but the subsequent profit-taking has dampened momentum.

Additionally, Vaulta’s price movement aligns with a broader cool-off among top altcoins.

The crypto market has faced volatility recently, with Bitcoin dipping to $100,984 and triggering over $1 billion in liquidations.

BTC’s bearish sentiment has spilled over to altcoins, with many experiencing sharper declines than Bitcoin.

Vaulta, ranked #77 on CoinMarketCap with a market cap of $889 million, is no exception. The 24-hour trading volume of $39 million reflects a 45% drop.

Technical indicators, such as the Relative Strength Index (RSI) trending bearish on a weekly timeframe, further signal waning momentum.

A token’s price higher

Despite the current downturn, several catalysts could propel Vaulta’s price upward.

The platform’s focus on web3 banking, with features like one-second transaction finality and Bitcoin-native DeFi through exSat, positions it as a compelling player in decentralized finance.

Increased adoption of its services, such as crypto-backed credit lines or real-world asset tokenization, could drive demand for the A token.

Additionally, Vaulta’s staking program may attract long-term holders, stabilizing the price.

Broader market recovery, particularly if Bitcoin regains its footing above $105,000, could also lift altcoins like Vaulta.

Finally, positive developments, such as protocol upgrades or partnerships via the Vaulta Banking Advisory Council, might spark renewed investor interest, potentially pushing the token toward its all-time high of $0.77.

For now, traders should monitor market trends and Vaulta’s ecosystem growth for signs of a rebound.

The post Vaulta (A) continues downward spiral under market pressure appeared first on CoinJournal.