Home Blog Page 2383

As Shiba Inu Tanks 30% ETH Whale Adds 207 Billion Shib

Zabi
-
0
As Shiba Inu Tanks 30% ETH Whale Adds 207 Billion Shib

 

Top ETH Whale Bought 207.88 Billion Shiba Inu (SHIB), Worth $2.36 Million.



Despite the widespread selloff in the global crypto market, Ethereum investors are showing their full trust in the most popular dog-themed cryptocurrency, Shiba Inu (SHIB).

Top ETH Whales keep on enjoying the discounted prices. A whopping total of 207.88 Billion SHIB, worth 2.36 Million USD has just been purchased by the Top ETH Whale.

Just a few hours ago, WhaleStats reported that the Ethereum whale ranked 196 has accumulated a big chunk of 207,882,946,977 (207.88B) SHIB, worth $2,365,707 ($2.36M) in one significant transaction.

However, Etherscan.io data reveals that following one hour of this massive accumulation; she has transferred 206,665,540,849 (206.66B) SHIB, worth $2,110,055 ($2.11M) to one of the mysterious SHIB whales exclusively discovered by TheCryptoBasic through one significant transaction, leaving her total SHIB balance to 2,156,477,845 (2.15B) SHIB, worth $22,017.

The whale has performed one “OUT” transaction and transferred a whopping total of 198,604,990,781 (198.60B) SHIB, worth $3,205,484 ($3.20M) to the mysterious SHIB wallet address, Etherscan.io reports.

This is not the first time BlueWhale0073 has sent this much SHIB to the mysterious wallet. On Tuesday (10th May) she scooped up 191,883,317,886 (191.88B) SHIB, worth $3,098,915 ($3.098M) in one transaction, and transferred the sum to Mysterious whale.

This perplexing activity from the Top ETH Whale has continued since the Robinhood exchange listed SHIB . Since then, BlueWhale0073 has transferred a whopping total of 3.44 trillion SHIB, worth $64.36 million, to this weird wallet.

As Shib price has fallen 30% in 24 hours currently trading at $0.00001065 giving the whale to buy Shib at cheap prices.

Terra (LUNA) Founder Few Days Before: “95% Of Cryptos Are Gonna Die But There’s Entertainment In Watching Them Die”

Mark Brennan
-
0
Terra (LUNA) Founder Few Days Before: “95% Of Cryptos Are Gonna Die But There’s Entertainment In Watching Them Die”

 

Terra founder finds entertainment in watching cryptos die, but he never knew he and his LUNA and UST would die faster than others.



There are rare moments in the crypto space that most people thought were impossible to happen. A case in point is the fall of Terra Luna and UST. Apparently, UST’s founder, Do Kwon, was earlier quoted spelling doom for most crypto companies joining the space. That was just eight days ago during an interview with Alex Botez.

Entering Crypto Space Because It’s Hot

During the interview, the host asked Do Kwon what he thought of the companies that are joining the crypto space. For one, there’s a growing perception that some of the companies rushing into this space are only doing so because the industry is currently the “in-thing,” and they don’t necessarily have a plan to keep themselves relevant. While conversing with Do Kwon, the host expressed her concern about whether such companies will make it through 3-5 years in the industry.

In response, Do Kwon was happy to announce that 95% of the entities currently joining the crypto space will crash in the heat of the moment. It’s a fact that Do Kwon isn’t the first person or analyst to make such a prediction. It’s also a fact that many of the crypto projects that were at the top of the charts merely five years ago are now either dead or struggling at the bottom of the charts.

“There’s Entertainment Watching Companies Die”

Do Kwon didn’t mince his words to say that it’s actually entertaining to watch companies die.

Alex Botez: I wonder how many of these companies you think are entering the space because it’s hot and there’s a lot of fun; it will still be here, like 2-5 years later.

Do Kwon: 95% are going to die. But there’s also entertainment in watching companies die too.

 

Interestingly, his own Stablecoin, UST, tanked along with Terra (Luna). In the struggle to save Stablecoin, the Luna Foundation sold off its entire Bitcoin reserve. The Bitcoin address of the Luna Foundation Guard (LFG) transferred 28,205.5 Bitcoins to Binance yesterday, and the address balance is zero now.

The market ripple effects caught up with the main crypto, Terra Luna, which has now become the talk of the town. Luna has shed close to 99% of its ATH value within 5 weeks. At the moment, Terra Luna is valued at $0.23 while its sister UST stablecoin is standing at $0.57.

The last few weeks have been hell for holders of Terra Luna as the crypto recorded successive value losses. In April, Luna was trading at its ATH of around $119. Today, the supposedly successful coin is trading at a measly $0.37, having lost over 99% of its value within the last seven days.

Luna has gone from being one of the top 10 best coins in the market to one of the worst. At this moment, Terra Luna is at position 59 in the charts – according to information on CoinMarketCap.

It’s sporadic for any coin to plunge as fast as Luna has done. Falling from a high of $119 to a value way below $1 in just a few weeks isn’t something most people would call normal.

Cardano Founder Welcomes Newcomers to Their First “Cryptowinter,” Says the Phase May Take Weeks Or Months To Pass

Albert Brown
-
0
Cardano Founder Welcomes Newcomers to Their First “Cryptowinter,” Says the Phase May Take Weeks Or Months To Pass

Despite the recent market downtrend, Hoskinson is optimistic that the phase will pass in the coming weeks. 


 

In one week, over 30% of the total market valuation has evaporated into the air following the interest rates hike announcement made by the Federal Reserve to cushion the effects of the rising inflation on the U.S. economy. 

Newcomers Reacting to Recent Dip

Aside from stablecoins, all cryptocurrencies have recorded significant losses, as many traders are forced to capitulate due to the losses incurred. The recent dip may not be taken to heart by veteran traders because it is no longer new to them. 

However, newcomers who are yet to see the other side of the market in the past few months have embarked on a series of panic selling. 

Hoskinson Welcomes Newcomers to Cryptowinter

Charles Hoskinson, the founder and CEO of Cardano, has taken to his personal Twitter account to welcome new cryptocurrency traders to their first “cryptowinter.” 

According to the Cardano boss, the recent market situation is not new to him since he has been in the industry since 2011, and has seen numerous “cryptowinters” that have hit him like a “cold ice bath.” 

Hoskinson noted that the market is currently in the “panicked blood in the streets phase,” and the massive price swing will be ending soon. 

Hoskinson Is Optimistic About the Market

He predicted that after the end of the “cryptowinter,” which will end in weeks or months, the cryptocurrency market will record a sensational surge. 

“It clears in weeks to months as a bottom is found. Then a long climb up the ladder,” Hoskinson said on the microblogging platform while adding a link to the soundtrack of the popular American series Game of Thrones. 

This comes less than 24 hours after the Cardano boss urged investors to be resilient irrespective of the ongoing market downtrend that has seen different assets shred huge gains in the past week. 

Crypto Market Down 20% In 24 Hours

Since Thursday of last week, the entire cryptocurrency market has been on a free fall. However, things became more intense this week. In the last 24 hours, over 20% of value has been wiped off the entire cryptocurrency market. 

The native cryptocurrency of Cardano, ADA, is down 33% in 24 hours, with the asset class still yet to discover its local bottom. 

At the time of writing, the global cryptocurrency market cap is around $1.22 trillion, representing a dip of 20% in the last 24 hours.

As of yesterday, the total cryptocurrency market cap rose as high as $1.4 trillion; however, today’s trading activities have not favored the volume.

Over the last 24 hours, a trading volume of $287 billion has been recorded.

Crypto Pundit Peter Brandt Slams Terra (LUNA), Says The Only Trustworthy Crypto Is Bitcoin

Mark Brennan
-
0
Crypto Pundit Peter Brandt Slams Terra (LUNA), Says The Only Trustworthy Crypto Is Bitcoin

Crypto Pundit Peter Brandt Slams Terra (LUNA).



The last few weeks have been hell for holders of Terra Luna as the crypto recorded successive value losses. Back in April, Luna was trading at its ATH of around $119. Today, the supposedly successful coin is trading at a measly $0.37, having lost over 99% of its value within the last seven days.

Luna has gone from being one of the top 20 best coins in the market to one of the worst. At this moment, Terra Luna is at position 59 in the charts – according to information on CoinMarketCap.

This is perhaps one of the incidents that keep trader Peter Brandt wary of most crypto projects. Peter is a trader that has been in the markets for decades. He recently tweeted to share his opinion about the current existential threat facing Luna.

Peter has been known for his extreme distrust of most Altcoins. He has consistently held that “crypto is Bitcoin and Bitcoin is crypto,” signifying his absolute loyalty to BTC and BTC alone. The issues surrounding Luna now seem to have strengthened his resolve in this regard.

 

“This Decline Is Lunatic”

In his tweet, Peter Brandt described Luna’s spiraling loss of value as a “lunatic.” This is an opinion currently held by many in the crypto space. While the crypto market may be going through a hard time right now, it’s sporadic for any coin to plunge as fast as Luna has done. Falling from a high of $119 to a value way below $1 in just a few weeks isn’t something most people would call normal.

Peter went on to allude to the rampant inflation and the issues currently facing Coinbase.

The criticism came when Coinbase published the financial report for the first quarter of 2022, seeing the San Francisco-based exchange record its first net loss of $430 million since the company went public in April 2021.

The report showed that Coinbase recorded a 27% net loss from the $1.6 billion recorded in Q1 2021 to $1.17 billion in this year’s first quarter earnings.

an excerpt from the report read:

“In the event of a bankruptcy, the crypto assets we hold in custody on behalf of our clients could be subject to bankruptcy proceedings. Such customers would be treated as our general unsecured creditors.”

As a result, Brandt called the attention of Coinbase’s customers to the report, asking them to close their accounts on the exchange and “flee.”  He argued that if Coinbase goes Bankrupt, users’ bitcoin will no longer belong to them.

 

 

Is BTC The Only Great Crypto?

From an optimistic standpoint, it’s hard to ignore every other Altcoin in favor of Bitcoin in its entirety. Crypto networks like Cardano seem to have a clear vision of what they want to achieve. As such, it wouldn’t be very prudent to throw a blanket dislike on all Altcoins.

Top Traders Say Crypto Market Is Capitulating And Bitcoin May Find Bottom At $27K

Mark Brennan
-
0
Top Traders Say Crypto Market Is Capitulating And Bitcoin May Find Bottom At $27K

Peter Brandt says $27,000 may be Bitcoin’s local bottom; however, he thinks the asset class may dip further. 


Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has been on a free fall since last week after the Federal Reserve announced an increase in interest rates to mitigate rising inflation in the United States economy.

Based on the massive dip of Bitcoin, Peter Brandt, a veteran futures trader had earlier predicted that the world’s largest cryptocurrency may dip below $28,000 if it fails to hold above $30,000.

His prediction came to pass in less than two days as the top asset class has seen its value dip to a low of $27,300 in the early hours of today.

Following Bitcoin’s fall from its glory days, Brandt, who has commented about the asset class on different occasions, took to Twitter to share a TradingView chart of the cryptocurrency.

He noted that $27,000 may become the local bottom for Bitcoin, adding that the asset class dipping below $28,000 could be the beginning of the end of its one-year decline.

Furthermore, Brandt noted that the surge in Bitcoin volume could suggest a “puke-out capitulation” of traders from the nascent asset class.

“This is the volume spike that can indicate puke-out capitulation and the beginning of the one-year decline,” Brandt added.

Brandt noted that while he believes $27,000 could be the possible low of the top asset class, there is no guarantee that BTC may not dip further.

“Can the carnage continue? Anything is possible — and that includes a local bottom. I’ve mentioned 27,000 areas as possible low, and that could be $BTC,” the veteran futures trader added.

Veteran Analysts Fear Imminent Market Capitulation

Similarly, Credible Crypto, a popular crypto analyst on the microblogging platform Twitter feared that Bitcoin may dip further below $28,000 as it would only take a miracle for the asset class to hold above the level.

Unfortunately, the analyst’s fears came to pass with Bitcoin dipping below $28,000 in the early hours of the day. At the time of writing, Bitcoin is trading at $27,311, representing a 13.2% dip in the last 24 hours.

Meanwhile, Michaël van de Poppe, the CEO and founder of Eight Global while commenting on the recent state of the cryptocurrency market, which has lost 15.7% in the last 24 hours noted that the market is close to a capitulation.

“Capitulation on the markets. We’re close,” Poppe said.

Binance Decides To Halt Terra (LUNA) Futures Trading

Mark Brennan
-
0
Binance Decides To Halt Terra (LUNA) Futures Trading

As LUNA continues its free fall, cryptocurrency users have expressed concerns about the massive dip’s ripple effect on the entire market. 


As a result of the ongoing and doubtful decline, binance today decides to halt the futures trading of terra (luna). Binance futures will delist coin-margined luna perpetual contracts and update the leverage & margin tiers for usdt-margined luna perpetual contracts.

Binance Futures will conduct automatic settlements on the Coin-Margined LUNA Perpetual Contracts and delist the contracts on 2022-05-12 at 08:00 (UTC).

Binance Futures will update the leverage and margin tiers of the USDT-Margined LUNA Perpetual Contracts on 2022-05-12 with the new leverage and margin tiers. The max leverage of USDT-Margined LUNA Perpetual Contracts has been reduced to 8x.

binance ending Terra future trading
Image source: https://www.binancezh.top/en/support/announcement/1b73e64616ee4e769c29e70c66728d1a

The decision comes As LUNA, which had a market capitalization of over $40 billion a month ago, has recorded a significant loss of nearly $39 billion market cap in hours. The current market cap falls to $939M.

At press time, LUNA was changing hands at around $0.29 and ranked as the 67th largest cryptocurrency, with a market cap of $939M. Two days before, Luna was present in the top 10 cryptos but had fallen to 67th place in no time, causing deep concerns among investors.

Tron CEO Deposits 100M Tether (USDT) in Binance As Stablecoins Deposits to Exchanges Surge Amid Price Dip 

Lele Jima
-
0
Tron CEO Deposits 100M Tether (USDT) in Binance As Stablecoins Deposits to Exchanges Surge Amid Price Dip 

Many traders are taking advantage of the price dip to increase their cryptocurrency holdings. 

The cryptocurrency market has suffered tremendous losses since last week after the Federal Reserve announced it would be raising interest rates to curtail rising inflation.

Many traders are converting their cryptocurrency holdings to stablecoins in order to avoid incurring more losses. However, other traders see the recent price dip as an opportunity to get digital currencies for a huge discount.

Based on this, stablecoin deposits across cryptocurrency exchanges globally have continued to skyrocket recently. Several investors, including Justin Sun, the founder and CEO of popular blockchain project Tron, have made significant amounts of stablecoin deposits to cryptocurrency exchanges.

According to crypto media outlet Wu Blockchain, the Tron CEO made a whopping $100 million Tether (USDT) deposit from Aave protocol to world’s largest cryptocurrency exchange by trade volume Binance.

“Just In: The address marked Justin Sun (0x3ddfa8ec3052539b6c9549f12cea2c295cff5296) transferred $100 million USDT from Aave to Binance. @PeckShieldAlert reported it first,” Wu Blockchain reports.

While it is not clear what cryptocurrency Sun will be investing in this time, it is worth noting that the Tron Decentralized Autonomous Organization (DAO) recently followed the steps of El Salvador president Nayib Bukele to buy 500 units of BTC.

With the recently transferred $100 million USDT by the Tron founder, it will not be surprising if Sun decides to bolster the Tron DAO Bitcoin holdings.

Surging Stablecoin Deposits

Aside from Sun’s USDT deposit, the number of stablecoin deposits to cryptocurrency exchanges has also surged tremendously.

Glassnode, a cryptocurrency data tracking service, announced yesterday that USDT deposits from external wallets to exchanges reached a one-month high of 416.719.

Similarly, transaction volume for USD Coin (USDC) also reached an 11-month high of $539.7 million. Glassnode noted that the last time the USDC transaction volume recorded an 11-month high was on January 28, 2022 when $538.49 million worth of USDC was transacted.

Crypto Market Is Guaranteed To Rebound In Second Half of 2022 – PolySign CEO

Albert Brown
-
0
Crypto Market Is Guaranteed To Rebound In Second Half of 2022 – PolySign CEO

Crypto Market Is Guaranteed To Rebound In Second Half of 2022 – PolySign CEO.



The last few days have been a total blood-bath for the crypto market, with top coins like Bitcoin experiencing double-digit value losses. The general consensus is that the market has been affected by the evolving dynamics of the larger financial market, which includes the S&P 500.

During an interview with CNBC, the CEO of PolySign, Jack McDonald, had the opportunity to share his thoughts regarding the current and future developments in the crypto market.

Is Bitcoin Still A Viable Hedge Against Inflation?

For some years now, cryptos like Bitcoin have been seen as great hedging options against the rampant inflation that results from the continuous printing of fiat currency by governments and the rise of interest rates. However, the sudden crash and the apparent strong co-relation of the crypto prices with the larger traditional markets have set a worrying trend upon investors.

On his part, Jack believes that the said co-relation has been strong of late, but that won’t last. At some point in the near future, crypto prices, especially Bitcoin’s, will detach from the influence of external factors. As a matter of fact, this is what was in play until recently. Whether this change is related to the influx of institutional money into the crypto space is a subject of debate. Still, the fundamental long-term story of the crypto revolution remains unchanged.

 

Market To Recover In The Second Half Of 2022

Asked about whether the market is in a position to mount a comeback in the coming months, Jack McDonald replied in the affirmative. The crypto market will ultimately attract more money and lead to recovery. In the second half of 2022, the coming months will set the stage for this to happen as the bearish sentiment dies down and accumulation starts.

Panel of 36 Industry Experts In Recent Report Says Ripple Will Hit $2.55 By December 2022 Despite Recent Price Dip

Lele Jima
-
0
Panel of 36 Industry Experts In Recent Report Says Ripple Will Hit $2.55 By December 2022 Despite Recent Price Dip

The financial experts make favorable XRP predictions despite the underperformance of the crypto market.  


The general cryptocurrency market has been on a downtrend since last week after the Federal Reserve confirmed that it would be increasing interest rates in order to mitigate rising inflation.

Cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), among others, have all recorded significant losses of over 30% since the Feds made the announcement.

Finders’ Experts Expect XRP Surge

The unfortunate circumstances have not hindered financial analysts from making favorable predictions for the nascent asset class.

This time, a group of 36 fintech experts predicted in a recent Finders’ report published on May 4th that regardless of the current market crash, Ripple’s native cryptocurrency will surge to a high of $2.55 by the end of the year. For the financial experts who made their predictions for the XRP token known, the major influence that will determine the price of the cryptocurrency is the outcome of the lawsuit between Ripple and the Securities and Exchange Commission (SEC).

finders report on ripple price prediction

According to the financial experts, a win for Ripple could see the coin soar as high as $2.55, while in the event of a loss, the experts believe that XRP could plummet to a low of $0.50.

Unfortunately, given the amendment to the recently published joint schedule order by Judge Analisa Torres, it is not certain that the lawsuit will end this year.

Aside from this year’s prediction, the group of fintech analysts also gave their prediction for XRP by 2025 and 2030. Notably, XRP will hit $3.61 by the end of 2025 and in 2030, the sixth-largest cryptocurrency will surge as high as $4.98.

Commenting on what would happen to XRP if Ripple wins the lawsuit, Carol Alexander, Professor of finance at the University of Sussex noted that the blockchain project could gradually replace SWIFT.

“It is not like any other crypto. If it wins vs. SEC, it really will start to replace SWIFT,” Alexander said.

As widely reported, the ongoing lawsuit will not only determine the value of XRP, it will also decide the fate of the entire United States cryptocurrency industry.

Brad Garlinghouse, the CEO and founder of Ripple, noted that the blockchain company will not be overwhelmed if it loses the lawsuit because it is already operating as if it has lost and that has not hampered the company’s growth.

Meanwhile, XRP is currently changing hands around $0.44 across major exchanges, down 14.5% in the last 24 hours, according to data on Coingecko.

Mr. Bean Joins Non Fungible Tokens (NFT) Craze

Mark Brennan
-
0
Mr. Bean Joins Non Fungible Tokens (NFT) Craze

One Of The Largest Web3 And Metaverse Leaders Is Launching A Collection Of Mr. Bean NFTs.



Normally, in the crypto world, FOMO means “Fear Of Missing Out,” but there’s now an entity called FOMO Lab that focuses on the emerging Metaverse and Web3 development. Interestingly, FOMO Lab is involved in NFT projects, with the latest one roping in the one and only world-popular Mr. Bean.

The plan is for FOMO Lab to collaborate with Banijay to mint 3,333 Mr. Bean NFTs according to a press release. Banijay is currently the most popular entity in producing and distributing content in the NFT industry. The minted unique collectibles will then be availed for sale on The Avenue, a content marketplace owned by FOMO Lab. The sale period will kick off on May 25th, and ETH will be the dealing currency.

What You Get From Mr. Bean NFT Purchases

Apparently, FOMO Lab plans to employ a new form of business where the digital and physical worlds are merged to create a physical outcome. As such, anyone buying Mr. Bean NFTs will be entitled to physical rewards, access to special competitions, hand-drawn still images of Mr. Bean from the first series, and various redeemable. The sales and more NFT drops will run for the entire rest of 2022.

Mr. Bean (Rowan Atkinson) commented: “I think that this is a great idea. Any initiative which not only draws attention to but actually enables access to the fabulous artwork associated with the Mr. Bean Animation series, I welcome with open arms.”

Everyone Is Excited

Actor Rowan Atkinson, who happens to be the main actor on Mr. Bean as well as its co-creator, expressed his excitement about the project. He particularly mentioned the positivity involved in availing the “fabulous artwork associated with the Mr. Bean Animation Series.”

According to the CEO of Banijay, Owain Walbyoff, the Mr. Bean NFT project is a great step towards realizing the true value of the Metaverse and preserving the future value of the company’s brands. In this case, those who buy the Mr. Bean NFTs will be the lucky few, especially considering that the character is popular and has a huge following across the world, not to mention the physical rewards added to the package.

FOMO Lab Is Still Expanding

The deal with Mr. Bean and Banijay isn’t the first such project undertaken by FOMO Lab. The company has entered into collaborations with other entities like heavyweight boxer Tyson Fury, Roland Berger (entrepreneur), Mark Cavendish (cyclist), and the Middle East and Film Comic Con (MEFCC). The biggest scoop for FOMO Lab happened when one of Tyson Fury’s NFTs sold for $987,000.

1...2,3822,3832,384...2,634Page 2,383 of 2,634