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Here’s a Smart Ethereum Trader to Watch with 100% Win Rate

Sam Wisdom Raphael
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Here’s a Smart Ethereum Trader to Watch with 100% Win Rate

Blockchain surveillance platform Lookonchain calls attention to a smart Ethereum trader that so far boasts an impressive 100%-win rate.

Amid the ongoing market uncertainty that has triggered angst among long-term investors, day traders have continued to make profits off the swings that come with volatility. Lookonchain recently spotlighted one such trader in a report on X.

According to the disclosure, since Sept. 2, the trader has turned 4,821 ETH into a staggering 5,690 ETH. This turnout translates to a profit of 869 ETH, equivalent to a massive $2 million, within two weeks. 

The Ethereum trader’s execution of trades started with the sale of 4,821 ETH on Sept. 2 for $2,512 each. This initial transaction set the stage for a series of strategic moves, as he sold these tokens for a total cumulative amount of $12.110 million.

After Ethereum witnessed a price dip two days later, the trader then used these funds to acquire 5,094 ETH at $2,378 each. This move allowed him to procure more ETH for less, securing an additional 273 ETH worth $626,500 as gain.

A Cycle of Ethereum Sales and Purchases

He capitalized on a slight market uptick the next day, selling these ETH for $2,402 each. Afterward, he re-purchased the Ethereum tokens for $2,375 following a market drop, allowing him to secure an additional 58 ETH worth $132,800.

This pattern of selling high and buying low continued for the past two weeks. On Sept. 6, the trader sold 5,263 ETH for $2,397 each. After this, he repurchased the same amount at a lower price of $2,350 on the same day, which led to an addition of 111 ETH ($256.2K). 

His last transaction involved a purchase of 5,690 Ethereum tokens at $2,279 each today. Overall, these transactions, which ran from Sept. 2 to today, saw the trader begin with 4,821 ETH, only to end his trading endeavor with 5,690 ETH. This translates to an addition of 869 ETH.

Notably, the trader has since sold the ETH tokens again, moving out some to another address. Since then, the trader hasn’t made any new purchases, but he holds an impressive $13.1 million in Aave-wrapped USDT, suggesting he might be gearing up for their next big move.

Expert Says When Bitcoin Hits $315K, It Won’t Matter If You Bought at $56K or $58K—Just Hold 1 BTC

Abdulkarim Abdulwahab
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Expert Says When Bitcoin Hits $315K, It Won’t Matter If You Bought at $56K or $58K—Just Hold 1 BTC

An expert predicts that Bitcoin’s future rise to $315K will make current price fluctuations irrelevant, urging investors to hold at least one BTC.

The state of the crypto market has been underwhelming over the last six months, characterized by repeated downturns. Most crypto assets have struggled to sustain an uptrend.

Since setting an all-time high in March, Bitcoin has dropped to $49K. Even though Bitcoin trades at around $60K, those who bought at the March peak are experiencing 20% losses.

Despite these months of lackluster price action, there have been consistent calls suggesting various bullish price targets for Bitcoin. Market participants continue to anticipate a fresh all-time high in the $100K range, but Bitcoin has faced persistent resistance.

With broader market sentiment in “fear mode,” concerned about significant price declines, market commentators with a long-term outlook are encouraging investors to overlook the ongoing fluctuations. In hindsight, they believe that current worries may prove unnecessary as Bitcoin could rise much higher.

It Won’t Matter If You Bought at $56K or $58K When BTC Hits $315K

In a recent post on X, Mike Alfred, a member of the Board of Directors at Eaglebrook Advisors, remarked that when Bitcoin reaches $315,000, it won’t matter whether someone paid $56,500, $57,500, or $58,150 for their initial acquisition. 

Accordingly, Alfred urged the investing public to focus on owning at least 1 Bitcoin and ignore the current price fluctuations. His statement emphasizes that when Bitcoin reaches a stable price beyond $300K in a few years, today’s prices below $60K will seem irrelevant. Investors would be looking at a potential 5x profit from current levels.

Notably, this perspective holds when considering that Bitcoin was valued at $26,500 just a year ago in September. It has appreciated by over 127% in a year and is currently trading above $60,300. Moreover, when observing Bitcoin’s performance on a ten-year scale, the returns are above 97,454,073%.

Selling Bitcoin Now Could Lead to Regret

In a separate discussion, community figure Scott Melker shared a similar sentiment. Melker envisioned a scenario in 2030 where Bitcoin could be worth over a million dollars. He suggested that investors might look back with regret if they sold their Bitcoin at around $50K, only to see its value skyrocket later.

Overall, the popular long-term outlook remains bullish for Bitcoin, with some experts projecting up to $1 million per coin within six years and even $13 million by 2045. However, some top financial pundits remain skeptical about its future, predicting a potential drop to $15K.

Shiba Inu Team Donates to Specialized ALS Hospital in Korea on Charity Tour

Albert Brown
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Shiba Inu Team Donates to Specialized ALS Hospital in Korea on Charity Tour

The Shiba Inu ecosystem team continues to support the community with significant charitable contributions. 

Per Lucie, the Shiba Inu ecosystem team visited and made a notable donation to the Seungil Hope Foundation in Seoul, Korea, as part of the ongoing “Treat Yourself” tour.

This foundation, which is the first specialized ALS hospital in Korea, was the recipient of the donation, reflecting the ecosystem’s longstanding commitment to helping those in need.

The charitable activities are intended to give back and also enhance the relationship between the Shiba Inu community and the ecosystem development team. 

Global Engagement

The “Treat Yourself” tour started in early July in Kyoto, Japan, during the IVS Crypto event, marking the beginning of a global effort to reach SHIB holders and other crypto enthusiasts.

The tour’s objective is to foster stronger ties with the Shiba Inu community through physical engagements across different countries. Each stop on the tour serves to enhance interaction between the ecosystem’s developers and its growing fanbase.

Before the Seoul visit, the most recent destination for the team was Mumbai, India. The trip to India was set to include meetings aimed at expanding the reach of the Shiba Inu project.

Notably, India holds a special place for the project’s lead developer, Shytoshi Kusama, who previously referred to it as his second home. Following the India meetings, the team planned to attend the Blockchain Futuristic Conference (BFC) in Toronto, Canada, which was scheduled for mid-August.

TREAT and Shiba Metaverse

In addition to the tour, Lucie shared exciting updates regarding the future of the Shiba Inu ecosystem. Per the marketing lead, the new token, TREAT, is poised to play a critical role in the ecosystem’s expansion, particularly within the upcoming Shiba metaverse. 

Although specific details remain unclear, TREAT is expected to unlock various functions within the metaverse while potentially extending its use beyond simple transactions. It is rumored to fuel innovation in Shib’s DAO.

Singapore Largest Bank to Launch Bitcoin and Ethereum Options Trading and Structured Notes 

Lele Jima
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Singapore Largest Bank to Launch Bitcoin and Ethereum Options Trading and Structured Notes 

Singapore’s largest bank, DBS Bank, doubles down on crypto as it announces plans to launch structured notes and OTC crypto options trading for institutional clients.  

Starting in the fourth quarter 2024, DBS Bank will offer financial products tied to the prices of Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market cap.

Per a press release today, institutional clients seeking exposure to Bitcoin and Ethereum can invest in the assets through DBS’ structured notes and options trading. 

According to a recent GlobalBank report, DBS Bank is the largest bank by asset size in Singapore, with a value of $509.1 billion. 

Options Trading and Structured Notes Defined 

For context, a crypto options contract shields investors from the volatility risks associated with the underlying asset. The contracts’ values are obtained from the assets’ prices, specifically Bitcoin and Ethereum in this case. The contracts allow investors to choose when to buy and sell the assets at predetermined prices. 

Meanwhile, structured notes are debt securities banks issue to their clients. Like crypto options contracts, structured notes’ returns are determined by the prices of their underlying assets. 

Notably, the announcement disclosed that clients could leverage multiple options structures to protect themselves against market volatility plaguing the assets. 

For instance, with the “put option,” DBS customers can sell BTC at a predetermined price and date, irrespective of whether the asset plummets below the stipulated price on the specified date. 

DBS Expands Its Customers’ Exposure to Crypto 

Commenting on the development, Jacky Tai, DBS’ Head of Trading and Structuring, highlighted the significance of the upcoming solution. 

According to Tai, as professional investors increase their digital asset holdings, the crypto options trading and structured notes provide them with new ways to incorporate advanced portfolio management strategies. Additionally, Tai noted that the upcoming service will expand customers’ exposure to the crypto ecosystem. 

It is worth noting that DBS Bank is not a new player in the crypto space. The bank has been providing its clients with access to the emerging industry. 

In 2022, DBS integrated spot crypto trading into its banking app, DBS Digibank. The offering allows accredited wealth investors to trade four cryptocurrencies, Bitcoin, XRP, Ethereum, and Bitcoin Cash, directly from the bank’s native exchange, dubbed DBS Digital Exchange (DDEX). 

Last month, the bank partnered with digital payment provider Ant International on a pilot project that introduced DBS Treasury Tokens on its EVM-compatible blockchain.  

Bhutan Becomes 4th Largest Bitcoin Holding Government With $770M Worth of Stash

Mark Brennan
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Bhutan Becomes 4th Largest Bitcoin Holding Government With $770M Worth of Stash

Bhutan became the second country to officially disclose its Bitcoin holdings after El Salvador.

Bhutan, a small country between India and China with a population of 780,000, boasts a substantial amount of BTC. A disclosure from Arkham revealed that the country has become the fourth-largest Bitcoin-holding government entity, with its BTC stash accounting for almost 27.9% of its gross domestic product (GDP) in 2023.

Unlike most countries on the Arkham list that acquired their Bitcoin through seizure, Bhutan’s holding is a product of its mining activities through Druk Holdings and Investments, a state-owned crypto miner. The Asian country harnessed its rich hydroelectric amenities to power mining operations.

It bears mentioning that Bhutan became the second country to officially disclose exposure to Bitcoin after El Salvador. However, Bhutan’s stash of the premier asset trumps the Central American country by more than double. El Salvador has acquired 5,876 BTC ($348 million), while Bhutan holds 13,036 BTC ($770 million).

Bhutan’s Heavy Investment in Bitcoin Mining

Per Arkham, Bhutan has invested a wholesome amount of its resources in building crypto mining facilities, with the now-defunct Education City project its biggest endeavor yet. The country’s venture dates back to 2019, when Bitcoin was less than $10,000.

Powering these power plants was sustainable for Bhutan, as it generated 23,760 MW of electricity from its hydropower plants, which were fed by the Himalayan glaciers. This allowed the landlocked nation to sufficiently service its mining structures and citizens.

A report showed that the state-owned mining firm had invested $192 million in purchasing mining equipment between 2020 and 2023. These large-scale Bitcoin mining activities continued silently until Bhutan’s first major announcement in April. 

Druk Holdings announced a partnership with Bitdeer to expand its mining capacity to 600 megawatts by 2025. The expansion detailed Bhutan’s plan to increase its mining capacity by five times, from 100MW to 500MW.

Notably, Bhutan’s heavy stash places it only below the United States, China, and the United Kingdom. The US holds 203,239 BTC, China seized 190,000 BTC, while the UK’s portfolio has 61,000 BTC. Bhutan’s stash would have been less than the German government’s, but the entity sold all its 50,000 BTC between June and July.

Here are Projected Timelines for Solana to Hit $500 and $1,000

Mark Brennan
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Market analysts have shared timelines for Solana to reach ambitious price targets up to four digits.

Like other cryptocurrencies, Solana has faced harsh market conditions amid unfavorable macroeconomic conditions and a cautious approach among investors. However, bullish sentiments around the fifth largest crypto asset have persisted.

At the time of writing, Solana was trading at $132, having recovered from the $129 range on Monday. Still, the asset has lost more than 7% over the last month and less than 2% in the past seven days.

It bears mentioning that Solana’s current price is low in context with bullish analysis and predictions surrounding the asset. Several analysts have made ambitious speculations that SOL will grow substantially in the coming bull run, with most of them calling for a surge to $500 and $1,000.

Solana to $500

Crypto analyst Joji has speculated that Solana will hit $500 soon. The market watcher stated in a post that Solana is close to a price breakout, which is expected to push its price by 379%.

Joji cited an accumulation phase in Solana’s historical price chart, expecting an impending price surge. The analyst’s chart showed that SOL pumped 884% from a similar position in the 2021 bull run, with the expert anticipating a repeat in this cycle.

Although Joji didn’t state when he expects the price action, his chart suggests it will happen before the end of the year. SOL price skyrocketed from the same phase in August 2021 to its all-time high of $260 in November.

Notably, analyst Crypto Anglio shares the same opinion as Joji. The experienced trader stated that he sees Solana trading at $500 “sooner than everyone thinks.”

Anglio cited the bullish sentiments surrounding the Solana network, including its profound traction for memecoins and non-fungible token enthusiasts.

For context, the Solana network hosted the memecoin crazy earlier in the year with launchpad Pump.Fun leading the fury. The massive traction led to the meme deployer’s unprecedented revenue gains in the shortest time ever.

Also, the Solana network recorded the highest daily active addresses in blockchain history, hitting 5.5 million users on September 10. Anglio expects this elevated traction to push the SOL price to $500 in no time.

Solana to Hit $1,000

A few other analysts shared a more bullish disposition towards Solana, tipping it to reach $1,000 by 2025. Notable analytical expert Ali Martinez is among those with a higher bullish call for SOL.

Martinez cited a breakout from a bullish pennant in Solana’s 1W chart as a possible propellant to $1,000. At the current price, SOL would have to rally 758% to reach that price. Its market cap would also surge to $470 billion.

Two other analysts predicted a similar surge in Solana for 2025. YouTube crypto analyst DustyBC Crypto speculated that SOL would surge to $1,000 by June 2025, while RollBit partner Borovik asserted that the asset would see a similar price before the end of next year.

Grok Shares Solana’s Predictions

Meanwhile, X-owned (formerly Twitter) AI chatbot Grok suggested its price predictions for Solana in 2024 and 2025. According to data generated from the bot, Solana will test $500 before the end of the year if bullish sentiments persist on the network.

However, Grok noted that a delay in this bullish trend would see Solana target the $500 price tag in January 2025. The interactive AI stated that technical analysis indicates SOL trading at $515 if bulls remain in market command.

For 2025, Grok predicted that Solana would trade at $1,000. According to the bot, fundamental and technical analyses point to that price mark by late 2025 or early 2026. 

It is worth noting that Solana has grown substantially year-over-year. The asset is up over 590% from its $19.65 price on September 17, 2023.

Is XRP Finally Recognized as a Currency, Wall Street Analyst Weighs In

Abdulkarim Abdulwahab
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Is XRP Finally Recognized as a Currency, Wall Street Analyst Weighs In

Host of the Good Morning Crypto podcast, Abdullah Nassif, recently sparked a discussion in the crypto community by questioning whether XRP is “finally” recognized as a currency.

This conversation was triggered by Wall Street analyst Linda Jones, who highlighted in a recent podcast that XRP was long considered not to be a security, even before the SEC lawsuit against Ripple Labs.

The context of her statement revolved around the potential for the SEC to appeal the 2023 ruling, which states that XRP is not a security.

Previous Lawsuit Called XRP a Virtual Currency

According to Jones, it was “already determined” years earlier that XRP is not a security but a currency. Nassif shared Jones’ commentary and asked, “Is XRP finally recognized as a currency?”

Notably, Jones pointed to the time when the U.S. Financial Crimes Enforcement Network (FinCEN) took action against Ripple Labs in 2015. FinCEN classified XRP as a “virtual currency.” 

Specifically, it described Ripple Labs and XRP II, LLC as entities involved in selling and facilitating transfers of virtual currency, identified as XRP.

This classification was made in the context of anti-money laundering (AML) regulations and compliance with the Bank Secrecy Act (BSA), for which Ripple was penalized.

However, it is essential to note that the term “virtual currency” did not constitute a formal declaration or detailed analysis of XRP’s regulatory classification, such as whether it is a security or otherwise.

The case only emphasized that virtual currency exchangers, such as Ripple, are obligated to launch products that adhere to AML regulations.

XRP Non-Security Status To Remain Unchanged

Jones recalled this historical record to strengthen the legal position of XRP as not being a security, arguing against the prospect of an appeal. She noted that an earlier court case described it as a virtual currency.

While the crypto community continues to speculate on the potential for an appeal of the 2023 ruling, the SEC has already stated that it does not seek to appeal the ruling that XRP, by itself, is not a security. 

This was when the regulator filed an interlocutory appeal after Judge Analisa Torres’s judgment in July 2023, though the move was denied.

Now that the Ripple lawsuit has finally ended, speculations have arisen that the SEC could reinitiate the appeal process. However, Ripple’s Chief Legal Officer, Stuart Alderoty, has clearly stated that an SEC appeal cannot change XRP’s inherent non-security status.

Moreover, prominent voices in the crypto community believe that the odds of the SEC winning on appeal are low.

Charts Don’t Lie: Top Pundit Buys a Lot of XRP, Says ‘Never in a Million Years Thought I Would’

Abdulkarim Abdulwahab
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Charts Don’t Lie: Top Pundit Buys a Lot of XRP, Says ‘Never in a Million Years Thought I Would’

Max Schwartzman, a notable crypto commentator and founder of BecauseBitcoin, recently disclosed his latest accumulation of XRP, riding on the confidence of what he observed on XRP charts.

In a post on X on Monday, Schwartzman revealed that he has loaded up on XRP tokens. According to him, this decision came after critically analyzing XRP’s historical charts.

Specifically, the pro-Bitcoin commentator remarked that “never in a million years” would he have thought he would end up buying a large amount of XRP, but acknowledged that “the chart never lies.”

While Schwartzman has not yet shared the specific chart that influenced his decision to accumulate XRP, he has promised to release a technical analysis video on XRP soon.

XRP Pumping, Outperforming the Market

Notably, his post comes when XRP is experiencing renewed optimism, which is reflected in its price performance. Today, XRP is up by 2.78%, outperforming 93 other crypto assets with billion-dollar market caps over the past 24 hours. 

This rise is particularly significant as Bitcoin’s recent correction has had a negative impact on the broader altcoin market.

While many assets show losses in daily and weekly timeframes, XRP is maintaining its positive trajectory. Currently trading at $0.5885, it is up 9.25% over the past week. 

XRP’s ongoing rally is drawing more attention, even from critics, with Schwartzman joining the accumulation trend, hoping for further price gains soon.

Bitcoin Analyst Targets 8X Profit from XRP

Schwartzman’s bullish stance on XRP has attracted congratulatory messages from community members, particularly the XRP Army. In response to one comment, Schwartzman revealed his mid-term price target for XRP.

Specifically, he noted that he expects XRP to reach $5 by next year. With XRP trading at approximately $0.58 on Monday when he bought in, this implies Schwartzman is aiming for a 762% gain or roughly 8X returns.

Furthermore, other analysts reacting to Schwartzman’s disclosure agreed that investing in XRP at its current value is a prudent decision, expecting significant upside potential.

One analyst highlighted that he has long considered XRP the “sleeping giant” of the crypto market. Mando CT, another widely followed Bitcoin pundit, commented that XRP could easily rally to $1 or $2, calling it an “easy trade” to net profit.

Celestia (TIA) Eyes $10 Target After Breaking 6-Month Trendline

Albert Brown
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Celestia (TIA) Eyes $10 Target After Breaking 6-Month Trendline

With a strong breakout reclaiming the $5 mark, can Celestia’s TIA hit the $10 psychological target?

Under the influence of a long-coming resistance trendline, the Celestia price trend shows a lower high trend formation. Further, the 50-day EMA acts as a dynamic resistance, keeping the bullish growth under check.

A recent breakout of the trendline signals a trend reversal for Celestia, putting bullish targets on the cards. Will the TIA price hit the $10 psychological mark as the underlying momentum resurfaces?

Celestia Breakout Run

In the daily chart, the TIA price registers a drop from the 52-week high of $21.14 to $3.72 low on September 6. The downfall accounts for an 82% decline, putting the buyers under pressure. 

Celestia Price Chart
Celestia Price Chart

Celestia’s recent performance shows a notable shift in momentum, marked by a rounding bottom reversal starting from $4 that has broken through the overhead trendline. This breakout has resulted in a 30% increase over the past ten days, allowing the price to reclaim the $5 level.

With rising demand and the rounding bottom reversal, Celestia has emerged as one of the top performers this week. The reversal pattern’s neckline aligns with the previous peak at $6.

However, despite the breakout, the bullish trend has struggled to surpass the 50-day EMA and has faced resistance. This is evident from the intraday price action, where a bullish engulfing candle formed a 10% gain from the opening price of $4.54, indicating higher price rejection.

Will Celestia Hit $10?

With the bullish trend gaining momentum, the TIA price appears poised to surpass the $5 mark. A breakout above the 50-day EMA would signal a buying opportunity for price action traders, although overhead resistances may constrain further momentum.

According to Fibonacci levels, the next resistance points are at the 23.60% level ($7.74) and the 38.20% level ($10.11). Additionally, the RSI’s bullish turnaround, approaching the overbought boundary, supports the potential for continued upward movement.

On the downside, the $4 psychological support level is expected to stabilize the price trend and mitigate downside risks.

Is $1 On Cards As Fantom (FTM) Bull Cycle Breaks Falling Channel?

Albert Brown
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Is $1 On Cards As Fantom (FTM) Bull Cycle Breaks Falling Channel?

With Fantom’s FTM token surging by 51%, sparking a bullish breakout, could the price of FTM reach $1?

Fantom is gaining momentum in the crypto world, demonstrating a bullish trend and setting the stage for a potential breakout rally. With the recent channel breakout signaling a prime buying opportunity, the broader market is eyeing a $1 target.

Can Fantom’s bullish recovery surpass the current resistance and reach the $1 psychological level? Let’s explore the possibilities.

Fantom Breakout Run Exceeds 200D EMA

The Fantom price trend reveals a falling channel pattern in the daily chart. However, the recent bull cycle changes the landscape with the breakout rally. Over the past ten days, the FTM price has surged by 51.51%, starting from a support level of $0.37.

Fantom price Chart
Fantom price Chart

In the longer term view, Fantom’s price has rebounded from a low of $0.2919 in early August. As the bullish momentum increases, buyers are solidifying their position above the $0.50 psychological level, pushing past the overhead trendline.

The surge in bullish momentum has led Fantom to surpass the 23.60% Fibonacci retracement level at $0.49 and the 200-day EMA. Additionally, the recent three-day rally, marked by a triple white soldier pattern, has resulted in an 18% increase.

With the growing bullish influence, the rising 50-day EMA suggests a potential golden crossover on the horizon.

Will Fantom Reach $1?

Currently, the FTM price is trading at $0.5636, with an intraday gain of 8.36%, forming a bullish engulfing candle. The MACD indicator, influenced by the ongoing breakout, shows both the MACD and signal lines on an upward trajectory.

As the uptrend continues, the bull run is expected to target the 38.20% Fibonacci level at $0.6175. Further resistance levels based on Fibonacci retracements are at 50% ($0.7181), 61.80% ($0.8186), and 78.60% ($0.9618).

With multiple resistance levels below the $1 mark, Fantom’s bull run may face challenges in reaching this psychological level. Conversely, the support level at $0.4930 is likely to remain robust.

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