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Pundit Sets $10,000 XRP Target, Citing Comments from Ripple CBDC VP

Sam Wisdom Raphael
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Pundit Sets $10,000 XRP Target, Citing Comments from Ripple CBDC VP

Market commentator and crypto YouTuber Levi believes XRP has a chance at hitting a four-digit figure amid an imminent adoption surge.

In a video recently shared on X, he set an audacious $10,000 target for XRP. Interestingly, the market pundit based this target on comments from James Wallis, Vice President of Central Bank Digital Currencies (CBDCs) at Ripple. 

In two separate interviews, Wallis extensively discussed the ongoing projects and pilots that Ripple is spearheading worldwide, which Levi believes could drive XRP’s price to unprecedented heights.

Global Pilots and XRP Ledger Projects

Levi highlighted the extensive work Ripple has been carrying out behind the scenes with XRP. He stressed that Ripple is conducting significant pilots and private projects involving the XRP Ledger across multiple continents, excluding only Antarctica. 

The Crypto Basic recently confirmed that Ripple, XRP and the XRP Ledger (XRPL) have penetrated all seven continents in a previous report. According to Levi, these efforts could potentially lead to a massive surge in XRP’s value if they unfold as planned.

In one of his interviews, Wallis explained that Ripple is developing private versions of the XRP Ledger specifically for central banks. He noted that they built these private ledgers on the same technology as the public XRP Ledger but restricted them to authorized users. 

Notably, this approach allows central banks to maintain the privacy they require while still benefiting from the robust, proven infrastructure of the XRP Ledger, which has processed billions of transactions to date.

Wallis emphasized that this private blockchain model gives central banks the security and control they need without sacrificing the efficiency of the underlying technology. 

Levi echoed this sentiment, noting that the desire for privacy is a significant factor driving central banks to adopt Ripple’s solutions. Banks prefer private ledgers to keep their transactions confidential, both from other financial institutions and the public.

The Role of Central Banks and Emerging Markets

Meanwhile, in a second interview, Wallis highlighted the role Ripple plays in global financial markets. He revealed that Ripple is actively part of more than ten ongoing projects with central banks worldwide, with discussions happening with many more. 

Wallis also pointed out that these projects are not only for developed economies. In emerging markets, where traditional banking services often face limitations, Ripple’s technology could be particularly transformative.

Wallis noted that central banks are not equipped to manage retail accounts directly, which is why intermediaries, such as commercial banks, fintech companies, and payment providers, will continue to play a critical role. 

In emerging markets, where banking penetration is low, these intermediaries could use Ripple’s technology to reach underserved populations. This could include new entities that central banks might license to ensure proper oversight and regulatory compliance.

Levi connected these insights to the broader potential of XRP, stressing that Ripple’s work across different industries and regions demonstrates XRP’s expansive utility. 

He argued that the involvement of such a wide array of players—from central banks to fintech startups—shows the impact Ripple’s technology could have on the global financial system.

XRP to $10,000?

Overall, Levi expressed optimism about the future of XRP, particularly as Ripple’s ongoing projects and pilots move closer to full-scale implementation. He suggested that the increasing adoption of Ripple’s technology by these financial institutions could drive mass adoption of XRP, leading to significant price appreciation.

Levi also tied these developments to the recent legal clarity surrounding XRP, referencing Ripple’s partial victory against the U.S. SEC. With the court’s stance on XRP clear, central banks might now feel more confident in leveraging the XRP Ledger for their digital currency initiatives without fearing regulatory backlash.

The market pundit expects this to contribute to the XRP bull run. While most market commentators agree with these speculations, the $10,000 target has come under scrutiny. XRP, currently trading for $0.5915, would need to spike 1,690,517% to reach $10,000.

Despite the pessimism, Levi has maintained his target. He disclosed his personal investment approach in light of these developments. According to him, he is preparing for a bullish trend in XRP, driven by the regulatory clarity and the advancements Ripple is making with central banks.

Ripple Rival Connects with JP Morgan for FX Solution

Abdulkarim Abdulwahab
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Ripple Rival Connects with JP Morgan for FX Solution

The XRP community recently unearthed details on the collaboration of Nium, a rival to Ripple in cross-border payment, with J.P. Morgan for FX solution.

Singapore-based fintech Nium excels in enabling seamless real-time cross-border payments for financial institutions globally. Its network spans 220+ markets and supports transactions in 100 currencies. However, before achieving this level of reach, Nium faced significant challenges, particularly in Asia.

Details of Nium Alliance with J.P. Morgan

In particular, Asia Pacific’s diverse financial regulations and dynamic compliance requirements posed substantial hurdles to Nium’s expansion efforts. As a result, Nium would have to navigate complex and sometimes conflicting regulatory environments to facilitate global cross-border transactions. 

This required substantial investment in resources and time, risking the ideal opportunity for market expansion.

Fortunately, Nium found a solution for its entry into the Asian market through its partnership with J.P. Morgan Payments. Given the substantial foreign exchange (FX) risks associated with Nium’s cross-border and cross-currency transactions, J.P. Morgan Payments provided a customized solution: real-time and automated Cross-Currency Solutions.

This service helped Nium mitigate the impact of exchange rate fluctuations and long-term shifts, which had previously affected its financial stability, profitability, and customer demand.

By leveraging J.P. Morgan’s global infrastructure, Nium optimized its banking setup for greater efficiency and flexibility. The partnership enabled Nium to expand into Asia-Pacific and Latin American markets. J.P. Morgan’s local banking relationships offered access to a vast network of global payment rails.

With the support of J.P. Morgan Payments’ solutions, Nium has expanded to over 220 markets and issued payment cards in more than 30 countries.

Dispelling Misinformation in the XRP Community

Notable figures in the XRP community, such as Crypto Eri, have recently highlighted the specifics of Nium’s partnership with J.P. Morgan to dispel misinformation circulating within the community.

Some had speculated that Nium’s collaboration with J.P. Morgan could somehow benefit XRP, given Nium’s existing partnership with Ripple for cross-border payment services.

However, Nium’s collaboration with J.P. Morgan focuses on FX solutions that are unrelated to its alliance with Ripple. WrathofKahneman, a respected community member, also clarified this.

Shiba Inu Lead Says Shiba Eternity Not Part of K9 Ecosystem

Mark Brennan
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Shiba Inu Lead Says Shiba Eternity Not Part of K9 Ecosystem

Shytoshi Kusama was quick to clarify a misleading comment from K9 Finance’s co-founder that the gaming sensation Shiba Eternity was part of the K9 ecosystem.

Pseudonymous Shiba Inu lead developer Shytoshi Kusama has clarified that Shiba Eternity is not part of the K9 ecosystem. Kusama responded to a tweet by K9 Finance’s co-founder, Buzz, who made a comment in that regard.

Buzz quoted a tweet by Seizan Shib, a K9 community member who was organizing a live stream for K9 Finance DAO’s Bonecrusher Testnet. The Bonecrusher Testnet was a session highlighting the progress of K9 Finance DAO’s liquid staking project, set to launch on September 18.

While encouraging users to join the live feed, K9 Finance’s co-founder noted that there will be promotions for projects on the K9 ecosystem. Among the projects Buzz mentioned were the Living the Dream (LTD) token, Bad Idea AI, and Shiba Eternity.

Kusama Responds

Shiba Inu’s lead developer spotted the comment two days later but didn’t mind clarifying the misinformation seen in Buzz’s tweet. Kusama stated that Shiba Eternity was not in the K9 ecosystem, implying that it remains in the Shiba Inu ecosystem.

Shiba Eternity is a popular card trading game based on the Shiba Inu ecosystem. It debuted in 2022 and has gained traction within the Shiba Inu ecosystem and the crypto community at large.

The Shiba Eternity game is a two-player online game. Players utilize spells and cards to reduce their opponent’s life to zero. Before now, the game was only playable as a Web3 game, but the Shiba Inu team is making progress to integrate it on the Shibarium network. The deployment has already made significant progress, as the closed beta version was launched for testing last week.

On the other hand, the K9 ecosystem is a decentralized autonomous organization (DAO) that is bringing liquid staking to Shiba Inu’s layer 2, Shibarium. K9 Finance and Shiba Inu entered a strategic partnership earlier in the year.

The DAO mimics Lido Finance’s operations in the Ethereum network by offering liquid staking and yield generation to BONE stakers. K9 Finance’s DAO is also the home of KNINE, a governance token within the ecosystem.

Buzz Shib Apologizes

After the Kusama comment, the K9 Finance co-founder quickly clarified his statements, noting that Shiba Eterenity was part of the Shiba ecosystem and not K9’s. He apologized to the lead developer and the Shiba Inu community for the misinformation. In response, the community accepted the apology.

KNINE and SHIB followed suit on a broader market correction on Tuesday, with the duo down 2.5% and 1%, respectively. SHIB traded at $0.00001475, while KNINE exchanged hands for $0.00001349.

Cardano Network Weakness Puts $0.40 and $0.35 levels in Focus

Albert Brown
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Cardano Network Weakness Puts $0.40 and $0.35 levels in Focus

With a minor recovery at play, an upcycle in Cardano teases a bull trend. Is Cardano making a comeback, or is a drop to $0.35 imminent?

With a positive sentiment in the Cardano community, 72% expect a bullish trend in the coming times. Further, the 8.14% surge in the last seven days reveals a growth in bullish momentum and teases an extended uptrend. 

Will the uptrend in Cardano surpass the $0.40 mark? Or is a drop to $0.35 imminent?

Cardano Eyes A Bullish Exit 

In the 4-hour chart, Cardano shows a recovery run from the $0.29 support level after the crash in early August. The bullish recovery forms a support trendline and accounts for a price surge of 25% in the last three weeks. 

BINANCE:ADAUSD Chart Image by Trojan69420
Cardano chart TradingView

Further, the bull run results in a positive crossover of the crucial EMAs (20, 50, 100, 200), except for the 100- and 200-day EMA crossover. In the recent pullback, the MACD and signal lines dropped to the zero line. 

A morning star pattern at the 200-day EMA at $0.367 results in a 1.4% surge and increases the positive crossover chances in the MACD. In the 1-hour chart, the pullback in Cardano forms a falling channel and hits the $0.366 base. 

BINANCE:ADAUSD Chart Image by Trojan69420

With a surprising comeback, an upcycle in Cardano teases a breakout rally to reinstate the uptrend. Further, the MACD indicator shows a positive crossover, increasing the bullish chances. 

Cardano Network Grows Weak Amid Volatile Market

According to IntoTheBlock data, the Daily Active Addresses in the Cardano network failed to show a bullish recovery in 2024. 

In a year-to-date measurement, the daily active addresses have dropped from 47,930 to 20,120. Meanwhile, the zero balance addresses have dropped from 15,210 to just 6,370. 

Cardano Network Transactions
Cardano Network Transactions

As the number of addresses decreases, the network’s transactions are affected. The number of last transactions and the last transaction volumes over the Cardano network have been declining in the past six months. 

Cardano Addresses
Cardano Addresses

The number of last transactions has dropped from 7.26k to just 3,000 in the last 24 hours. Meanwhile, the volume of the last transactions has dropped from 29.04 billion ADA tokens to just 14.01 billion ADA tokens in the past 24 hours.

However, the derivatives market signals a potential recovery in the Cardano prices despite the weak network growth. 

ADA Long/Short Ratio
ADA Long/Short Ratio

Based on the ADA Long/Short Ratio from Coinglass, the ratio remains bearish but has increased from 0.8519 to 0.8685 in the last 24 hours.

Will Cardano Give A Bullish Break?

With a weak underlying network, the chances of Cardano sustaining the uptrend are questionable. While minor recovery runs are possible, improvement in the underlying network will be crucial for a sustainable bull run. 

The bullish breakout of the channel can find resistance at the 23.60% and 50% Fibonacci levels at in the 1-hour chart $0.383 and $0.40, respectively. 

On the flip side, the support levels in the 4-hour chart are present at $0.36, $0.353, and $0.32.

Pundit Insists XRP 12-Year Struggle to Break $5 Shows It Has Golden Ticket to Giant Leap

Sam Wisdom Raphael
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Pundit Insists XRP 12-Year Struggle to Break $5 Shows It Has Golden Ticket to Giant Leap

A market pundit believes the struggles XRP has faced in hitting new highs could suggest that it has the golden ticket to a giant leap.

Julius Rose made this assertion on X while speaking on the struggles XRP has faced since 2018. He argued that XRP’s failure to crack the $5 mark over the past 12 years might actually be a bullish sign for the digital asset. 

XRP Building Momentum

Rose contented that the inability to breach this price level could indicate that XRP is on the cusp of a major breakthrough, which he likens to holding a “golden ticket” for a massive leap forward. 

This point is in sync with the growing sentiment in the community that XRP is building momentum for a significant price surge, despite the prolonged downtrend it has faced. Notably, due to the persistent consolidation, XRP’s monthly Bollinger Bands have remained tight for over a year, an unprecedented period of time.

Market experts believe the breakout from here could be massive. In June, Blockchainedbb, a notable market commentator, spotlighted this sustained consolidation phase that had remained 700 days at the time. He stressed that such consolidation would eventually lead to a massive upsurge. 

Meanwhile, Rose’s commentary is not the only voice expressing optimism about XRP’s future. In recent months, several analysts have provided bullish predictions, setting up multiple ambitious price targets.

Bullish XRP Price Predictions

In July, analyst Coin Signal noted that XRP’s monthly candlestick patterns were bullish. The analyst pointed out that XRP’s monthly chart was displaying strong upward signals, setting a target of up to $4 for the asset. 

Earlier in May, another market analyst, Casi, predicted that XRP could reach between $8 and $13 after it breaks out of its consolidation phase that has lasted for six years. Casi’s analysis focused on XRP’s historical price movements, particularly its usual consolidation within triangular formations. 

In addition to these predictions, another respected analyst, EGRAG, provided a bullish outlook for XRP in July. EGRAG’s analysis, based on historical data, pointed to the potential for XRP to rally as high as $27. The target aligned with the weekly Fibonacci 1.618 level.

Moreover, The Great Mattsby, a well-known market analyst, reiterated his forecast that XRP could reach an ambitious $250 over the next few years. Mattsby supported this claim with a detailed analysis, which he shared in a YouTube video and a subsequent post on X. 

In his analysis, the analyst pointed to the tightness of the Bollinger Bands on XRP’s monthly chart, noting that they are currently the tightest they have ever been. Historically, such tight Bollinger Bands have signaled significant price movements.

Here’s Shiba Inu Price If Ethereum Surpasses $3T Market Cap

Abdulkarim Abdulwahab
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Here’s Shiba Inu Price If Ethereum Surpasses $3T Market Cap

Shiba Inu could see over an eight-fold price growth if Ethereum reaches a $3 trillion market cap or trades at $25,000.

Shiba Inu remains one of the popular cryptocurrencies in the altcoin market that benefits significantly from a bull run. Recently, Ethereum recaptured the long-lost $2,800 price point following an approximately 7% growth over the weekend, elevating its market cap to $333.11 billion.

During this period, Shiba Inu surged by around 15%, climbing from $0.00001405 to reclaim the $0.000016 range for the first time in nearly four weeks. Additionally, SHIB’s market cap expanded to $9.2 billion on Saturday.

Given Shiba Inu’s tendency to follow Ethereum’s bullish trends, this article explores the intriguing scenario of SHIB’s potential value if Ethereum’s market cap reaches $3 trillion.

Shiba Inu Price If Ethereum Surpasses $3T Market Cap

At press time, Ethereum is trading at around $2,772, with a market cap exceeding $334 billion. During its significant bull run in November 2021, Ethereum peaked at approximately $4,800, pushing its market cap beyond half a trillion dollars.

With Ethereum’s circulating supply at 120,298,357, a market cap of $3 trillion would imply a market price of around $25,000 per ETH. This scenario would require Ethereum to increase by roughly 800%.

Given that Shiba Inu tends to benefit from bullish markets, its value could rise substantially if Ethereum reaches a $3 trillion market cap or trades at $25,000. Currently priced at $0.00001527, an 800% increase in line with Ethereum’s projected growth could propel SHIB to $0.00013743.

Notably, this price point would mark a historically high price point for the meme coin as SHIB peaked at $0.00008845 in 2021. Moreover, the increase would also push Shiba Inu’s market cap to approximately $80.98 billion.

Why SHIB May See More Than 8X Surge

However, it’s worth noting that Shiba Inu may experience more than an 8X increase in a thriving market scenario in which Ethereum achieves a $3 trillion market cap. 

Bitcoin, the largest cryptocurrency by market cap, typically commands more than three times the market cap of Ethereum. Thus, if Ethereum were to reach a $3 trillion valuation, Bitcoin could potentially have a valuation of around $10 trillion, putting its unit price near $500,000.

In such a robust market, meme coins like Shiba Inu could potentially rally far beyond 800%. In the last bull cycle, Shiba Inu skyrocketed by over 884,400%.

Analysts Expect 5th Elliott Wave to Help Bitcoin Surpass $143K Amid Bullish Halving Trends

Sam Wisdom Raphael
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Bitcoin is currently in a critical phase that could see its price soar to new highs, according to two prominent market analysts. 

Mikybull, a crypto market analyst, recently suggested that Bitcoin is entering its fifth and final Elliott Wave, which could propel its price toward a new all-time high. Simultaneously, Coinvo, another respected analyst, has drawn on historical halving trends to forecast a similar price target.

BTC Elliott Wave Analysis

Mikybull presented his analysis in a recent post on X. According to him, Bitcoin is currently at the cusp of the fifth wave, often regarded as the final wave of an uptrend in Elliott Wave theory.

The accompanying chart shows Bitcoin’s journey through the previous four waves. Notably, BTC began the third wave in Q4 2022 following a drop to the cycle floor at $15,000. The third wave allowed it to recover the losses of 2022, coming to a close at the all-time high of $73K in March this year.

Bitcoin Elliott Wave Mikybull
Bitcoin Elliott Wave | Mikybull

Following the $73K all-time high, Bitcoin is now facing a correction, marking the fourth wave. During this fourth wave, the price has pulled back slightly, with Bitcoin now down 13% from the all-time peak. However, this phase is now close to an end, with BTC on the verge of entering the fifth wave.

Mikybull has identified two primary price targets for Bitcoin during this final wave. The first target sits at $95,000, based on the 1.618 Fibonacci extension level. 

Meanwhile, the second, more ambitious target is $143,000, based on the 2.618 Fibonacci extension level. If Bitcoin adheres to this pattern, it could experience a significant surge in value as it completes its fifth wave.

Bitcoin Halving Trend Analysis

Supporting this optimistic outlook is Coinvo’s analysis of Bitcoin’s historical halving trends. In his report, the analyst highlighted the percentage gains observed between each halving cycle, revealing a consistent pattern of diminishing returns. 

Bitcoin Halving Trends Coinvo
Bitcoin Halving Trends | Coinvo

After the first halving, Bitcoin saw a staggering increase of 9,483%, followed by a 2,975% increase after the second halving. Meanwhile, the growth following the third halving was more modest at 702%. 

Notably, by applying the trend of diminishing returns, Coinvo projects that Bitcoin could see a 124% increase following the fourth and most recent halving, which could push its price to approximately $143,881.

The convergence of these two analyses is crucial. Both Mikybull and Coinvo, using entirely different methodologies, arrive at a similar price target for Bitcoin: around $143,000. If Bitcoin indeed enters its fifth Elliott Wave, as Mikybull suggests, it would align with Coinvo’s halving trend analysis.

Bitcoin Leads as Digital Asset Inflows Surge to $533 Million, Largest in Five Weeks

Albert Brown
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Bitcoin Leads as Digital Asset Inflows Surge to $533 Million, Largest in Five Weeks

Digital asset investment products recorded $533 million in inflows last week, the largest in five weeks according to the latest CoinShares report. 

This surge followed Federal Reserve Chairman Jerome Powell’s speech, signaling renewed investor confidence in the sector. Notably, Bitcoin led the charge with $543 million in inflows, while Ethereum saw outflows of $36 million.

Per CoinShares data, multi-asset funds attracted $20.3 million in inflows over the past week, bringing their month-to-date (MTD) inflows to $61.7 million and their year-to-date (YTD) inflows to $290 million.

With assets under management (AUM) for multi-asset funds standing at $4.339 billion, these funds continue to draw interest, signaling that investors remain keen on diversified exposure. 

Screenshot 2024 08 26T182117042

Meanwhile, Solana saw a slight inflow of $0.1 million during the week but faced significant MTD outflows of $34.3 million. Despite these short-term outflows, YTD figures for Solana remained positive, highlighting ongoing long-term support.

Mixed Trends in Crypto Assets

Litecoin experienced consistent inflows, recording $0.5 million in the last week and maintaining a steady YTD inflow of $35 million. Similarly, XRP saw moderate inflows of $0.3 million over the week, contributing to MTD inflows of $1.3 million and a YTD inflow of $22 million. 

These figures suggest growing investor interest in alternative cryptocurrencies like Litecoin and XRP.

Conversely, BNB saw no change in weekly inflows, with MTD outflows of $1.2 million, showing mixed sentiment towards the asset.

Grayscale Trusts See Diverging Trends

A month after the launch of Ethereum ETFs, inflows totaled $3.1 billion. However, these gains were partially offset by outflows from the Grayscale Trust, which reported $189 million weekly outflows. 

Screenshot 2024 08 26T182203385

Other prominent funds, such as iShares and ProShares, saw weekly inflows of $346 million and $38 million, respectively. Meanwhile, CoinShares XBT continued to face challenges, recording outflows of $2 million over the week.

Global and Regional Flows 

Regionally, the United States led the way, contributing $498 million of the total inflows, reflecting its dominant position in the digital asset market. Other regions, such as Hong Kong and Switzerland, also saw weekly inflows of $15.9 million and $13.9 million, respectively. 

Screenshot 2024 08 26T182236924

However, Germany posted minor weekly outflows of $8.9 million, contrasting with the generally positive global trend. Countries like Brazil and Canada showed moderate activity, with Brazil recording $8 million in inflows for the week, while Canada added $5 million.

DOGS Meme Coin Stress Tests TON Network with 150,000 Requests Per Minute

Abdulkarim Abdulwahab
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0
DOGS Meme Coin Stress Tests TON Network with 150,000 Requests Per Minute

The Open Network (TON) platform has recently experienced a surge in activities following the launch of the on-chain claiming process for the DOGS meme token. 

According to TON, the request processing speed impressively reached 150,000 times per minute, showcasing the network’s robust capabilities. Chinese reporter Colin Wu highlighted this record in a recent update.

DOGS Meme Coin “Stress Testing” TON

Market participants see the recently observed surge in activity as a stress test of the TON network’s capability, with up to 10 million users trading simultaneously. Notably, TON boasts one of the fastest speeds in the crypto scene, recording over 100K TPS last October.

For context, this latest “stress test” coincides with the DOGS meme coin becoming tradable on both centralized and decentralized exchanges today.

However, the launch of DOGS has not been without its hiccups. Telegram Wallet reported that the release of DOGS caused several crypto exchanges and wallet functions to experience technical issues, with the wallet’s exchange function currently unavailable. 

Bybit exchange also experienced a brief interruption in service due to a surge in user activity but has since been fully restored. The initial hiccups emerged as over 42 million crypto users qualified for the DOGS airdrop. 

During the wait for the official exchange listing, Binance and other exchanges orchestrated a Launchpool that allowed their users to farm DOGS tokens. The Binance Launchpool opened up 22 billion DOGS tokens for participants to share.

DOGS commenced trading at 12:00 PM UTC today and briefly touched $0.001856 as it went live before settling around $0.001177 at press time. According to the Binance chart, DOGS is currently up by over 134% from its listing price of $0.0005454 as users engage with the token.

Prior to DOGS becoming available for trading, stakeholders were gripped with uncertainty concerning its price performance. This emerged as the founder of Telegram, Pavel Durov, was taken into custody by French authorities over the weekend. The development caused the TON token to tank significantly, and it has yet to fully recover.

Crypto Trader Nets 115K TON Profit Trading Meme Coins with 54.5% Win Rate

Albert Brown
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Crypto Trader Nets 115K TON Profit Trading Meme Coins with 54.5% Win Rate

A savvy crypto trader has recently demonstrated remarkable success through a series of well-timed trades in the meme coin market. 

Following the change of the Ton Blockchain logo to the REDO logo on X, the price of the meme coin REDO experienced a notable surge, increasing by approximately 200%. Seizing this opportunity, the trader sold 881,000 REDO tokens, generating a profit of 107,275 TON, equivalent to 12 times their initial investment. 

The trader’s success did not stop there, as they also secured 5,207 TON in profits from TINU, achieving a 35-fold return, and 3,118 TON from PLANE, representing a 62-fold return.

These trades were part of a broader strategy that involved trading 11 different meme coins. The overall investment totaled 13,207 TON, leading to a cumulative return of 128,593 TON and a total profit of 115,387 TON, reflecting a return on investment (ROI) of 874%.

Despite the trader’s success, it’s important to note that the win rate stood at 54.5%, indicating that not all trades were profitable.

Analysis of Token Performance

REDO emerged as the standout performer, contributing the largest portion of the trader’s profits. With an investment of 8,801 TON, REDO returned 116,076 TON, yielding an impressive ROI of 1219%.

Similarly, TINU and PLANE delivered significant returns, with ROIs of 3471% and 6237%, respectively. Other tokens, such as TONK and NOTNOT, also provided positive returns, albeit at lower percentages.

However, the trader’s strategy was not without its challenges. Tokens like DOODIE, Spotty, REGI, sTONks, and BUFFY underperformed, leading to losses. DOODIE and Spotty, for instance, both recorded negative ROIs of -39%, while sTONks and BUFFY experienced even steeper declines, with losses of -64% and -83%, respectively. 

Telegram CEO’s Detention Sparks Outrage

In related news, the crypto community has rallied around Telegram CEO and co-founder Pavel Durov, following his recent detention by French authorities. Telegram expressed strong disapproval, labeling the arrest as unjustified, particularly given the platform’s compliance with European regulatory guidelines.

The arrest occurred at Le Bourget airport, with French authorities citing various charges, including fraud and facilitating terrorism. Despite the serious nature of the allegations, Telegram maintains that Durov has been transparent in his activities across Europe and seeks a swift resolution to the situation. 

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