Schlagwort: crypto business

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FARTCOIN price dips 20% as top whale takes profit

  • A large-scale holder has just offloaded 3 million FARTCOIN.
  • The meme token’s price has dropped 20% on the 24-hour chart.
  • Meme cryptos have plunged after the latest criticisms from Solana’s co-founder.

Digital tokens recorded mixed performances in the past 24 hours, with most coins plunging.

The meme token space witnessed multiple activities.

While Gemini announced DOGE and SHIB as collaterals, a dramatic move shocked the Fartcoin community.

According to Lookonchain, address 24BLFj has dumped a massive 3 million FARTCOIN tokens, pocketing $3.65 million.

The investor sold at $1.22 as Fartcoin plunged from the intraday high of $1.4017.

The meme cryptocurrency fell to $1.1253, a 19.71% decline from the daily peak.

While Solana co-founder’s latest criticism of meme assets contributes to FARTCOIN’s weakness, the whale sell-off adds to the selling pressure.

Anatoly Yakovenko said NFTs and meme cryptocurrencies lack intrinsic value.

Meanwhile, this whale has invested in Fartcoin since late February, accumulating 8.89 million coins at discounted prices.

Notably, the whale spent $0.26 on average to purchase the assets between 26 February and 21 March.

The strategic investment, worth only $2.31 million, has grown to a massive profit of $8.07 million, a 349% ROI.

While the large-scale offload has impacted the markets, it also shows that the investor played a long game with FARTCOIN.

Most importantly, the sale could indicate dwindling confidence in FARTCOIN’s short-term performance.

Is the meme token set for further declines?

Fartcoin has plummeted continuously from $1.6843 on 23 July.

Nevertheless, the whale has not dumped all his stash.

They still hold FARTCOIN worth approximately $2.15 million (1.89 million coins).

Thus, the offload signals a potential strategy change, not a complete exit. The investor could be bracing for more returns in a rebound.

Most importantly, the sale reflects a calculated move.

While panic sellers dump all their assets at once, the smart whale takes partial profits while waiting for any future rally.

FARTCOIN price outlook

The meme coin trades at $1.18 with a bearish structure.

The 50% increase in daily trading volume signals intensified trader activity in FARTCOIN.

That signals players seeking opportunities in the prevailing volatility or exiting their positions.

The prevailing broad market sentiments support continued struggle for Fartcoin.

Meme coin market overview

The meme cryptocurrency space endured a bloodbath on Tuesday, with Dogecoin, Shiba Inu, and PEPE losing up to 10% on their daily charts.

The seven-day timeframe also confirms bearish dominance.

Only PENGU (+8.5%) and SPX (+18%) exhibit 7D days among the top meme coins by value.

CoinGecko data shows the meme coins’ market cap plunged 4.6% the previous day to $79.55 billion.

The substantial daily trading volume dip indicates dwindling interest in themed digital coins.

The latest critique by Solana co-founder Anatoly Yakovenko magnified bearish sentiments in the meme crypto space.

While meme activity has fueled Solana’s growth, Yakovenko blasted the asset class.

He boldly said that “memecoins and NFTs are digital slop and have no intrinsic value.”

Nevertheless, meme cryptocurrencies have proven crucial for the digital assets economy, often used as a proxy for broad market sentiments.

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Ether tops $3,800 after consolidating below $3,780; check forecast

Key takeaways

  • ETH dropped below the $3,750 mark on Monday as the broader crypto market undergoes a correction.
  • It is now trading above $3,800 despite the net outflows.

Ether bounces back above $3,800

Ether, the second-largest cryptocurrency by market cap, lost 3% of its value on Monday and temporarily dropped below $3,750. However, it has recovered nicely and now trades above $3,800 per coin. 

The bearish performance comes amid net outflows for the cryptocurrency. According to data from July 29, Ethereum recorded a net outflow of $52.36 million from spot exchanges. 

The outflow highlights the growing Ether withdrawals this month as long-term investors take profit. However, the profit-taking hasn’t halted Ether’s performance as the coin looks set to hit the $4k psychological level soon.

Ether continues to see growing volume thanks to the ongoing NFT boom. While speaking to Coinjournal, Evan Kuhn, President of DeLorean Labs, the Web3 division of the DeLorean brand, revealed that legacy NFTs are seeing increased volumes. He stated that,

“Renewed volume around legacy NFT collections like CryptoPunks shows that digital ownership still has speculative appeal, but the more important shift is how NFTs are evolving into infrastructure. We’re seeing a transition from collectibles to utility. NFTs are now being used to manage access, automate rules, and assign roles within on-chain ecosystems.

While Ethereum’s price rebound has contributed to rising volume, the deeper story is about maturation. As NFTs become tools for real utility, they will move from novelty to necessity.”

Ether targets $4k as bulls remain in control

The ETH/USD 4-hour chart is bearish following Ether’s underperformance on Monday. However, the technical indicators on the lower timeframe have switched bullish, suggesting that buyers are regaining control.

The MACD lines have entered the positive region, indicating that the bias has switched bullish. Furthermore, the RSI of 61 shows that ETH could face buying pressure soon. If the recovery continues, Ether could break past the TLQ and resistance at $3,938 and hit the $4k psychological mark.

ETH/USD 4H chart

An extended bullish run would allow ETH to target the $4,200 level for the first time since December. The all-time high price remains $4,891, and it remains Ether’s medium-term target.

However, if the bearish trend returns, ETH could retest the low below $3,500 in the coming hours or days.

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PI coin surges amid August Binance debut speculation

  • Pi Network (PI) coin spiked today on Binance listing rumours for August 15.
  • Price hit $0.4697 before pulling back to around $0.4449.
  • No official listing confirmation from Binance or Pi Network.

Pi Network’s native token, PI, saw a notable price surge following mounting speculation about a potential listing on Binance this coming August.

Although there is no official confirmation from either Pi Network or Binance, growing investor excitement has temporarily lifted the coin’s price and revived bullish sentiment within the community.

Rumours of Binance listing drove an intraday spike

The coin rose to a daily high of $0.4697 early Monday, following waves of social media chatter that Binance might list PI on August 15.

Shortly after hitting its peak, PI pulled back to $0.4449, reflecting a natural cooling off after speculative buying.

Nonetheless, the brief price spike sparked renewed attention from traders who have been monitoring Pi’s long-term viability and listing prospects.

Interestingly, comparisons are already being drawn to PI’s previous listing on OKX. In that case, similar rumours had circulated for weeks before the token finally appeared on the exchange.

The Pi Network community is now watching closely to see whether history will repeat itself on Binance.

Transparency and tokenomics still cloud the outlook

While the buzz continues to build, analysts have been quick to urge caution.

According to experts like Dr. Altcoin, Binance and other top-tier exchanges typically require clear regulatory and operational documentation before approving new listings.

This includes undergoing Know Your Business (KYB) verification and publishing a detailed roadmap, neither of which Pi Network has fully completed.

Furthermore, Pi Network’s mainnet transition is still not accompanied by comprehensive tokenomics or a transparent release plan.

This ongoing lack of clarity continues to pose a major hurdle for institutions that are bound by compliance standards and investor protection policies.

Despite these concerns, third-party platforms such as Onramper have listed Binance as an available payment option within the Pi Wallet interface.

However, this does not equate to a direct integration or listing, as Onramper is a standalone payment gateway and not affiliated with Binance’s exchange listing procedures.

Pi coin eyes $0.493, but caution remains key

Over the past few days, PI has managed to maintain a key support level at $0.440, even amid increased volatility.

After declining by nearly 10% earlier in the week, the coin has rebounded steadily, now trading slightly above the $0.450 mark.

This movement suggests that buying pressure may be gradually returning, driven largely by renewed optimism surrounding the Binance speculation.

Technical indicators also show signs of stabilisation. The Moving Average Convergence Divergence (MACD) has shown a bullish crossover, while the Chaikin Money Flow (CMF) has spiked upward, signalling a fresh inflow of capital.

Although CMF values remain below zero, the current trend indicates that PI may be attracting serious accumulation from retail investors.

In addition, the daily trading volume has reached $82.6 million, reinforcing the idea that the market is paying attention.

While it remains unclear whether Binance will list PI on August 15, Pi Network’s price remains in a fragile but promising position.

If it successfully turns $0.450 into solid support, further rebounds toward the $0.493 level may be possible.

However, should sentiment shift or selling pressure increase, the token could once again test its all-time low of $0.400, which is still within reach.

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Pendle TVL surpasses $7B ATH as new catalysts emerge: what’s next?

  • The protocol’s TVL touched $7.02 billion today.
  • Upcoming developments like Boros, HyperEVM, and Converge suggest continued growth.
  • PENDLE’s price has turned bullish after an 8% rally.

Tokenization platform Pendle has attained a new all-time high in total value locked today, hitting $7.021 billion.

It has topped June 2024’s historical peak of $7.013 billion.

The timing could not be better.

The TVL milestone comes as Pendle awaits vital developments in the coming weeks and months, including hyperEVL expansion, Boros release, and Converge launch.

Meanwhile, the total value locked surge signals more capital as users trust Pendle’s yield-trading mechanism, especially following the latest stablecoin regulation.

Digital tokens backed by real-world assets have seen increased appetite since the US signed the GENIUS Act.

This article evaluates what to expect as the protocol braces for key catalysts.

HyperEVM expansion sparks bullish momentum

Pendle has remained on the crypto community’s radar as it prepares to launch HyperEVM.

Speculations suggest that this fastest-growing and most active EVM-compatible chain might go live as soon as this week.

HyperEVM will enhance the protocol’s cross-chain interoperability and access to new audiences.

The upcoming product is more than a Layer 1 or Layer 2.

HyperEVM is ushering in the next generation of DeFi apps.

Pendle’s early integration would enhance its appeal for collaborations, user activity, and new markets for magnified liquidity.

The team launched Hyperwaverfi on July 23 to prepare for the HyperEVM launch.

Boros to unlock new utility

Another catalyst positioning PENDLE for continued growth is the Boros product.

While details remain scarce, Boros aims to significantly improve the ecosystem’s TAM (Total Addressable Market) and introduce new utility for yield-bearing assets.

Some suggest that it will allow traders to trade funding rates without interacting with perps and lock in fixed rates.

The product is scheduled for an August release and would cement Pendle’s value proposition as it attracts more capital and users.

Converge alliance adds momentum

Pendle is among the top partners of the upcoming Converge platform, signaling a deeper connection with modular DeFi protocols.

The tokenization platform will help unlock yield-trading on multiple dollarized assets.

The collaboration reflects Pendle’s commitment to on-chain finance.

It will likely boost the blockchain’s usage and visibility, translating to more benefits for PENDLE holders.

According to Converge:

Tokenized assets need predictable, liquid, and composable yield rails. By building on Converge, Pendle brings fixed-rate products, yield hedging, and liquidity strategies to tokenized securities and institutional-grade dollar instruments.

The upcoming launches, stablecoin growth, and protocol expansion will likely trigger more growth for Pendle in the coming times.

PENDLE price outlook

The altcoin trades at $4.72 after an impressive performance over the past 24 hours.

Overcoming the crucial resistance between $4.80 and $4.90 could support substantial gains towards $9.

PENDLE trades above the 50- and 100 Exponential Moving Averages on the 1D chart, signaling an upside momentum.

Positive broad market sentiments amid the upcoming Pendle catalysts position the altcoin for significant growth in the coming weeks and months.

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XRP forecast: is the pullback over as Ripple CTO clarifies loss of XRP Ledger blocks?

  • The XRP price is currently holding above $3 amid whale accumulation and network growth.
  • Ripple CTO defends not resetting ledger after early data loss.
  • A break above $3.30 could trigger a rally toward $4 and beyond.

Following the week-long price decline, investors are sceptical about the next XRP move, with most turning to XRP forecasts for any clues.

The third-largest cryptocurrency by market cap has lost over 9% in the past seven days, despite earlier momentum that saw it break above the $3.50 mark.

Amid the market uncertainty, Ripple CTO David Schwartz is in the spotlight with detailed explanations about the long-standing mystery surrounding the XRP Ledger’s missing early blocks — a topic that has raised both technical and ethical questions within the crypto space.

Whale activity helping XRP stay afloat

Despite the recent pullback, XRP has held above the crucial $3.50 psychological level, with strong support building near $2.95.

This stability comes at a time when whale accumulation has intensified.

On-chain data reveals that large holders, wallets holding between 10 million and 100 million XRP, have increased their total holdings to over 8.3 billion XRP, representing 14% of the circulating supply.

This accumulation is significant because it reduces market volatility and cushions against sharp selloffs.

By limiting the amount of XRP available for sale, whales are effectively providing a price floor.

Consequently, retail investors often follow such movements, anticipating a stronger rally in the near term.

XRP Ledger sees network growth

In addition to whale behaviour, network data shows that the XRP Ledger is experiencing a noticeable rise in new wallet creations.

On July 18, daily new addresses peaked at approximately 11,000, and the network has since maintained an average of 7,500 new wallets per day.

This surge signals growing demand and heightened adoption, especially as traders seek faster, low-cost blockchain alternatives.

Moreover, XRP has outperformed Bitcoin over the past month, gaining over 30% against BTC.

This relative strength reinforces bullish sentiment, particularly among investors looking for altcoins with strong technical fundamentals and institutional backing.

XRP price action battles resistance

Currently, XRP is trading at $3.24 after bouncing from a low of $2.99 last week.

The 24-hour range remains tight, hovering between $3.17 and $3.32, while the all-time high of $3.65 (set on July 18) still looms as a psychological barrier.

Holding above $2.95, which aligns with the monthly volume-weighted average price (VWAP), is essential for XRP to maintain a bullish structure.

Technical setups indicate that a break above $3.30 could trigger a push toward the $3.82 mark, as projected by Fibonacci extensions.

Notably, prominent trader CasiTrades recently stated that “What’s promising is that we have not made a new low. Instead, it appears to have completed a subwave wave 2 of a new trend reaching a deep .854 retrace.”

Ripple’s CTO explains loss of 32,000 XRP Ledger blocks

As XRP’s price battles resistance, Ripple’s Chief Technology Officer David Schwartz has responded to renewed scrutiny over the XRP Ledger’s early history.

Specifically, critics have questioned the integrity of the network due to the loss of its first 32,000 ledgers, which span the initial ten days of its existence.

Schwartz explained that the missing blocks were the result of a software bug during the early development stages, when multiple independent ledger streams were created.

One of these streams experienced a failure, leading to unrecoverable data loss. He emphasised that this was a known issue and not an act of fraud or negligence.

Calls to reset the ledger have surfaced repeatedly, particularly from sceptics.

However, Schwartz stated that such a move would have worsened the situation by erasing additional historical data that is currently preserved.

“Nothing we could do would restore the missing information,” he wrote in a recent post on X.

What XRP traders should watch next

With XRP still up 428% year-on-year and supported by strong fundamentals, the question now is whether the pullback is over.

Whale accumulation, combined with consistent network growth and Ripple’s public response to technical concerns, provides a foundation for confidence.

That said, price must hold key levels. Any break below $2.90 could invalidate the current bullish setup.

Conversely, a move above $3.30 could ignite fresh momentum, potentially targeting $4 in the near term.

For now, XRP’s resilience, transparency from Ripple leadership, and growing adoption suggest that the market may be preparing for its next leg up — assuming broader sentiment holds steady.

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