Author: Sollcrypto
Jeremy “Pauly” Cahen, once a promoter of Pepecoin (PEPE) who has now become a crypto influencer, has made allegations of insider trading against the Pepecoin team in the wake of reports about the theft of approximately 16 trillion PEPE tokens. Pauly is taking steps to reveal the identities of team members and share insights into their wallet activities. On-chain analysts have also identified significant Pepecoin transactions involving individuals with insider connections. In an update provided on August 26th, Pauly disclosed that the Pepecoin team holds an estimated $16–17 million worth of PEPE tokens distributed across nine different wallets. Interestingly, these…
JPMorgan’s recent research suggests that the cryptocurrency market’s downward trend is approaching its conclusion, with most long-position liquidations believed to have concluded. As per a Bloomberg report, analysts at the American bank predict that the phase of liquidations is mostly in the past. This assessment is drawn from the data on open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME), which hints at a potential slowdown in the selling trend. Open interest, representing active futures contracts, serves as an indicator for market sentiment and the robustness of price movements. Analysts interpret the decrease in Bitcoin’s open…
Despite a series of setbacks involving centralized crypto exchanges and services over the past year, data reveals that consistent outflows from decentralized finance (DeFi) have persisted throughout this period. DefiLlama data indicates that the total value locked within DeFi protocols across various chains has dwindled to less than $38 billion, a significant drop from the industry’s peak of $178 billion in November 2021. Notably, Ethereum protocols presently account for roughly $21.8 billion of this remaining value. Despite the turmoil that unfolded with the collapse of centralized exchange FTX in November 2022, which led to a sharp decline in the amount…
Shiba Inu (SHIB), the viral cryptocurrency that captured global attention, finds itself at a pivotal crossroads. According to the most recent data, SHIB is being traded at $0.00000804, and it stands on the brink of confronting a vital resistance threshold that holds the potential to shape its immediate trajectory. The current valuation of SHIB carries substantial weight, as it signifies a crucial point of resistance that has previously served as both a support and resistance level. A thorough examination of the price chart unveils multiple instances of this level being tested, making it a critical juncture. The outcome of a…
IntoTheBlock, a market intelligence platform, has meticulously examined ongoing trends and token behaviors, presenting valuable insights. Their analysis of the 7-day average transactions has brought to light noteworthy revelations, highlighting Uniswap’s prominent position within the DeFi realm. Following closely behind are Maker and Aave, while 0x stands out due to its notably lower daily transaction count. Adding to their significant findings, IntoTheBlock has emphasized the declining Total Value Locked (TVL) in DeFi protocols, reaching its lowest point in 2.5 years. This downward trajectory can be attributed to a series of events that triggered a negative feedback loop within the ecosystem.…
The Ethereum price is encountering difficulties in surpassing the $1,700 mark against the US Dollar. Meanwhile, Ethereum whales are appearing to accumulate, and the crucial support at $1,620 might play a significant role. The current state of Ethereum’s price involves struggles to breach the $1,680 and $1,700 thresholds.The price is currently trading below $1,670 and the 100-hourly Simple Moving Average.An interconnected bearish trend line is taking shape, showcasing resistance around $1,665 on the hourly chart of ETH/USD (data feed provided by Kraken).There’s a possibility that the pair could initiate a notable uptrend, breaking through the resistance levels at $1,670 and…
The imminent $1.9 billion monthly Bitcoin options expiry on August 25 holds significance in determining the stability of the $26,000 support level. While the recent decline in the cryptocurrency market could be attributed to the United States Securities and Exchange Commission (SEC) postponing its decision on spot Bitcoin exchange-traded funds, there’s also a broader macroeconomic context to consider. Should the Federal Reserve’s attempts to control inflation prove effective, it is likely that the trajectory of a stronger U.S. dollar will continue. This trend was evident as the U.S. Dollar Index (DXY), which measures the dollar against other currencies, reached its…
The value of the meme-inspired cryptocurrency Pepe (ticker: PEPE) has dropped by nearly 15%, sliding to $0.000001. This decline follows recent modifications to a multisig wallet and recent token transfers, which have instigated concerns about the possibility of the developers executing a “rug pull.” These suspicions, alongside the adverse price movement, emerged after a total of $16 million worth of Pepe tokens were transferred from the developers’ multisig wallet to different cryptocurrency exchanges on August 24th. Data obtained from the blockchain custody application Safe Global reveals that a wallet address initiated the transfer of 16 trillion Pepe tokens, equivalent to…
In a collaborative effort, investment firms ARK Invest and 21Shares have submitted applications for two Ethereum futures exchange-traded funds (ETFs). This move comes in the wake of recent reports suggesting that the U.S. securities regulator might soon commence the approval process for such applications. The proposed ETFs are named the “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY), as detailed in a filing to the Securities and Exchange Commission on August 24. As outlined in the filing, ARKZ is designed to allocate a minimum of 25% of its total assets to…
Glauber Contessoto went all-in on Dogecoin when Elon Musk began promoting the cryptocurrency on Twitter in 2020. Having invested $250,000 from his savings and credit card, his holdings surged to $3 million at a certain point. However, despite the substantial gain, Contessoto, 35, with his “diamond hands,” opted not to cash out. In 2020, when Elon Musk initiated cryptocurrency promotion on Twitter, Glauber Contessoto fully committed to Dogecoin. He directed $250,000 from his savings and credit card into the investment, resulting in his holdings peaking at $3 million. Despite this significant increase, 35-year-old Contessoto, known for his unyielding resolve (“diamond…