I've been 100% btc for last 2 years. Now that rate cuts/liquidity are coming, im starting to slowly converting my BTC to ETH at 0.040 eth/btc pair. Last time eth/btc pair went down when FED cut rates,so i think 0.030-0.040 range COULD be the bottom. Since i cant time the market,im starting to DCA converting…
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Solana-based memecoin POPCAT has become a market sensation in the last few months. The token has led the feline sector, becoming the first cat-themed cryptocurrency to reach a $1 billion market capitalization. Whales have noticed the token’s recent performance, loading their bags with millions of tokens in the last few days. Related Reading: Failed Solana Token Scheme? Hacker Targets 2.6 Million Indian Cricket Fans With X Scam Whales Go Popping Their Bags On-chain analytics firm Lookonchain revealed that a crypto whale had purchased millions of POPCAT today. The purchase was made by an investor who previously held the memecoin but sold its holdings earlier this month. Per the report, the whale bought 2.36 million POPCAT in the early hours of Thursday at an average price of $0.68. The address swapped 1.47 million USDC in 9 transactions varying from 150,000 to 200,000 USDC. After Lookonchain’s post, the investor purchased another 299,345 tokens for 200,000 USDC. In the past eight hours, the whale acquired a total of $2.66 million POPCAT, worth $1.75 million, at an average price of $0.65. The on-chain data firm also noted that this address purchased 6.05 million POPCAT between April 21 and April 26. At the time, the investor spent 1.84 million USDC for the memecoin. However, they sold the tokens a week ago for 3.31 million USDC, making a profit of over $1.47 million in the stablecoin. Similarly, online reports revealed that another whale address has been on a shopping spree for the last three days. This address bought 5.67 million tokens on Monday, worth around $3 million, in three Dollar-cost averaging (DCA) transactions. Since then, the investor has continued to purchase the cat-themed memecoin, acquiring another 470,000 tokens today, valued at $308,000. As a result, the address now holds a total of 6.14 million POPCAT, worth $3.88 million. Is Popcat About To Lead The ‘Cat Season’? Following the whales’ transactions, POPCAT’s daily activity surged 25%, jumping to a daily trading volume of $151 million. The memecoin’s price also saw a significant 20% increase, hitting the $0.067 mark earlier today. The token’s performance made POPCAT the largest gainer among the top 10 memecoins, leading the sectors’ rally. Additionally, it became the largest daily gainer among the 100 cryptocurrencies by market cap, seemingly fueling a bullish sentiment among investors. Some market watchers noted that the memecoin has been in “an uptrend ever since” the rest of the market started its downtrend in March. The cat-themed token displays green numbers in the longer timeframes, registering 17%, 139%, and 110% increases in the one-month, three-month, and six-month timeframes. Sjuul from AltCryptoGems highlighted POPCAT’s performance throughout September, bouncing from the $0.45 zone before reclaiming the $0.55 support level in the last seven days. Previously, the trader noted that the cryptocurrency failed to reclaim the $0.7 resistance level as August ended, resulting in a price drop to the $0.55 support zone. The token’s price continued to fall below the $0.50 mark in the following days. According to the post, the memecoin continued to move inside a bullish structure despite the dip. However, the trader deemed that investors should watch out for key support levels at the $0.50 and $0.40-40.45 ranges in the following weeks. Related Reading: Altcoins About To Take Over? Analyst Suggests Time To Accumulate Will End Soon To Sjuul “bouncing at either one of these two levels would imply that bulls are still in control of the market structure.” This would ensure that the memecoin forms a “new higher low on the high time frame,” opening “the gate to a further push into resistance” and could ultimately lead to a massive rally. As of this writing, the cryptocurrency has reclaimed the $0.65 price range, currently trading at $0.655. POPCAT’s performance in the weekly-chart. Source: POPCATUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
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Hello world! My team and I are looking for several volunteers to further test our already launched travel platform. Who we are: TR3 What we do: We are a subscription based B2B2C travel platform. We provide professional rental property owners/managers a tool to create their own royalty program. We are “Costco for travel” that provides…
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The U.S. Department of the Treasury has imposed sanctions on Cambodian tycoon Ly Yong Phat and his businesses, linking them to human trafficking and forced labor scams involving cryptocurrency fraud. Victims were manipulated into online scam centers, and trafficked workers were forced into labor for these schemes. The sanctions freeze U.S.-based assets and prohibit transactions, […]
Ethereum appears to have now seen a notable shift in its major metric. Particularly, a recent CryptoQuant analyst, Burak Kesmeci report, highlighted the potential significance of Ethereum’s current funding rates. The analyst pointed out that similar patterns in the past have been followed by substantial price increases, suggesting that Ethereum might be on the verge of a new surge. Related Reading: Analyst Predicts $4,000 Mid-Term Target for Ethereum, Declares End to ETH Correction Calm Before The Storm? Funding rates are a key future market metric, indicating the balance between long and short positions. When the funding rate stays low for an extended period, it can signal market indecision or calm, but if the rate rises sharply, it often precedes a strong price movement. According to the report by Kesmeci, Ethereum’s funding rates have been hovering between 0.002 and 0.005, a relatively low level last seen in September 2023. The funding rate then spiked above 0.015, followed by a price rally from $1,500 to over $4,000. The analyst further explored whether Ethereum’s funding rate in September 2024 could signal a similar price movement. The current low funding rates have persisted for about a month, starting from August. This situation mirrors the period before last year’s significant price surge. September and the final quarter have historically been pivotal times for crypto markets, often seeing increased trading volume and price gains as summer ends. However, Kesmeci noted: I can’t say if history will repeat itself, but there’s certainly a rhythm to it. We will wait for Ether’s funding rate to rise above 0.015 to see if the calm before the storm breaks. A move above this level in funding rates is crucial for tracking healthy increases during bull markets. How Is Ethereum Faring So Far? While Ethereum hasn’t seen a further decrease following its low of $2,197 last month, the asset hasn’t seen a major price increase in the past weeks. Instead, ETH has continued to consolidate within a specific range. Following an attempt to create a new all-time high back in March, trading above $4,000, ETH has seen a consistent decline ever since and has remained below $3,000 since August. So far, the asset has declined 2.7% in the past weeks and has also seen a 0.7% increase in the past 24 hours. However, the asset remains below the $3,000 mark, currently trading for $2,331 at the time of writing. Related Reading: Ethereum Sees Massive Outflows from Derivatives: What Does This Mean For ETH? According to a recent post from a renowned crypto analyst, Alex Clay, on X, ETH might have ended its correction. Clay noted that a “break above $2500 will confirm the beginning of the rally.” #ETH/USD Imo we are at the end of the $ETH correction💁♂️ Looking for some consolidation above the Key Zone + 200 MA & 200 EMA confluence Break above $2500 will serve a confirmation of the beginning of the rally🚀#Ethereum turned to be a heavy asset so $10k target is rather… pic.twitter.com/jjGPPUHWE3 — Alex Clay (@cryptclay) September 9, 2024 Featured image created with DALL-E, Chart from TradingView
After moving to Farcaster, Vitalik Buterin appears to be back on X with over 150 posts or replies in the last month.
A “substantial bull market” is needed to avoid VC funds drying up after too much money was allocated to funds “clearly underperforming benchmarks,” a crypto analyst says.
The team behind Sky, formerly Maker, wants to drop WBTC due to what it claimed were recent changes in ownership and control “likely involving Justin Sun or affiliates.”
