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Will Izuchukwu

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Solana: Leading The Blockchain Race With Key Developments In The Past 48 Hours

Solana continues to dominate as the top Layer 1 blockchain in the market, with significant developments over the last 48 hours bolstering its position. Stablecoins Surge on Solana In a major move, Circle, the issuer of the USDC stablecoin, minted $250 million worth of USDC via its treasury wallet on Solana, sending ripples through the ecosystem. USDC now represents about 70% of the stablecoin supply on Solana, despite its share being only around 30% on Ethereum. Notably, PayPal’s PYUSD, launched less than two months ago, now makes up approximately 11% of Solana's total stablecoin supply. The dominance of USDC on Solana can be attributed to the collaborative efforts of Circle and the Solana Foundation, which have been actively incentivizing developers and integrating trading platforms. Additionally, Circle's Cross-Chain Transfer Protocol (CCTP) on Solana has further improved USDC's liquidity and usability. On-Chain […]

Will Izuchukwu August 9, 2024

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Market Rebound: Bitcoin and Altcoins Lead The Charge

Since yesterday, the market has been favoring both Bitcoin and altcoins, signaling a strong rebound. Despite recent dips, the Bullish Falling Wedge pattern remains intact for $RIO. The price of $RIO made a significant recovery, forming a hammer pattern when it touched 80 cents. Currently, $RIO is trading at $0.94, eyeing a reclaim of the $1 mark. https://twitter.com/oct_trades/status/1820726775904702620?t=F54SMpEMCFsUFtH2MW1DiA&s=19 The rapid recovery of $RIO amidst a major market downturn is noteworthy, underscoring the unpredictable nature of both stocks and cryptocurrencies. While many investors faced losses during the crash, this rebound offers a glimmer of hope and showcases the resilience of certain assets. https://twitter.com/ja1405_ja/status/1820714739619774508?t=7zQtBk8Sbtl00qdVUFa7Rw&s=19 Market volatility can be nerve-wracking, but maintaining a calm demeanor and adhering to a long-term strategy often yields the best results. According to iCrypto, there has been a high buy volume from Smart DEX Traders over the past […]

Will Izuchukwu August 7, 2024

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Market Surge Following Fed Statements: Bitcoin And Stocks Rally

Following the Federal Reserve's positive statements, both the stock market and Bitcoin have shown robust recovery, with Bitcoin surging by 13%. This upward momentum has positively impacted the broader market, raising hopes for favorable news on the Bitcoin ETF, particularly from BlackRock. https://twitter.com/iCryptoAI/status/1820639447995887862?t=3xJxMUPhqEdr_-ndm0v9WA&s=19 Top Gainers and Market Trends Among the top gainers are $NEIRO, $ANDY, $BITCOIN, $PEIPEI, $BRETT (on Base), $MIGGLES, and $SATS. The meme coin trend is leading the charge, closely followed by Ethereum. Additionally, the Base ecosystem is garnering significant attention. Notable Accumulation and Market Movements $TAO has seen strong accumulation by smart money, despite already rising 49% from yesterday's bottom. It is showing notable strength on the charts, having validated its support at $186 and making its way toward $348 with substantial volume. The expectation is for Bitcoin to remain bullish, which could further support $TAO's upward […]

Will Izuchukwu August 7, 2024

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Crypto Market Retrace Sparks Calls For Sub-$50K BTC As ETF Dynamics Shift

The crypto markets have experienced a significant retrace, leading traders to once again speculate on Bitcoin (BTC) dropping below the $50K mark. Historically, when the 7-day average trader returns for top cryptocurrencies like BTC, ETH, ADA, XRP, DOGE, and LINK are low, the likelihood of a market bounce increases considerably. https://twitter.com/santimentfeed/status/1819502487222526287?t=5r4mkpaZbBPb2sK8NPiAYg&s=19 On August 2nd, Bitcoin spot ETFs saw a substantial net outflow totaling $237 million. Specifically, the Grayscale Bitcoin Trust (GBTC) recorded a single-day outflow of $45.9462 million. Fidelity's Bitcoin ETF (FBTC) experienced a significant single-day net outflow of $104 million. In contrast, BlackRock's iShares Bitcoin Trust (IBIT) noted a single-day inflow of $42.8142 million. https://twitter.com/mycoinecho/status/1819651142806081691?t=dy6ZQilpkP4XFZuYhtc1aw&s=19 More Bitcoin Exposure Happening Soon In a groundbreaking move, Morgan Stanley will allow its 15,000 financial advisors to offer Bitcoin ETFs to clients starting August 7. This initiative marks the first instance of a […]

Will Izuchukwu August 5, 2024

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Saturday Brings Relief To Crypto Markets With Ethereum and Solana Leading The Bounce

Weekend is finally bringing a bit of solace to the crypto markets, with mild bounces forming for Ethereum (ETH) and Solana (SOL). ETH has managed to climb back just above $3,000, while SOL is trading slightly above $150. This recovery comes after a period of heavy liquidation of long positions during the market drop. The hope now is that the market's greed remains tempered, paving the way for a sustained weekend relief rally. https://twitter.com/santimentfeed/status/1819717554505441645?t=5VBgNjlBqwCYQDEgZwfCZw&s=19 This recent dip is reminiscent of the one experienced in early July. However, the same level of enthusiastic dip buying seen previously hasn't emerged yet. Traders are closely watching key psychological levels such as $60,000 for Bitcoin (BTC) and $2,900 for ETH. Reaching these levels may provide the necessary confidence for traders to start investing heavily again. https://twitter.com/santimentfeed/status/1819547131499405666?t=T15QreRmDUMR6iFlbZDoQw&s=19 Massive Net Outflow On Spot Bitcoin ETF On […]

Will Izuchukwu August 5, 2024

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Wormhole ($W) Prepares For Major Token Unlock

Today, Wormhole ($W) is set to unlock approximately 33.3% of its circulating supply, which amounts to about 600 million $W tokens. This will increase the total circulating supply to 25.78%. Here’s what to expect with this significant $W unlock Token Unlocks: The upcoming unlock stems from the community allocation. Initially, 11% of the tokens were unlocked during the airdrop at the Token Generation Event (TGE). Now, an additional 6% will be unlocked, fully completing the community allocation. Price vs. Unlock Impact: The Wormhole Foundation will hold the 600 million $W tokens in trust, intending to use them for future community-related projects. This approach likely means there won’t be any immediate selling pressure from this unlock, which is positive news for $W holders. https://twitter.com/Token_Unlocks/status/1819236571415302402?t=6OZ7l9PmQJ7rtuDW2HzljQ&s=19 FDV & Market Cap Comparison with Related Projects: | LayerZero | Axelar | Wormhole | |-----------|--------|----------| | […]

Will Izuchukwu August 2, 2024

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Aave Whale Uses Low-Risk Leveraged ETH Strategy With GHO

A recent report from IntoTheBlock has examined the activities of the second-largest Aave GHO whale, known as luggisdoteth, who employs a leveraged long ETH strategy using GHO. This whale has been gradually increasing their ETH position by minting GHO with wstETH and swapping the stablecoin for ETH. While leveraging carries inherent risks, this whale utilizes low leverage and actively manages their position, thereby reducing the risk of liquidation. Despite GHO’s historical peg issues and the challenges of manual leveraging, the GHO market's peg stability has improved significantly. Since February, the peg has been well-maintained, thanks to the safety module in place. The whale can also profitably arbitrage any downside depegs by selling their GHO, which helps restore the peg and allows them to repay part of their loans. This strategy leverages the benefits of being the largest holder of AAVE, […]

Will Izuchukwu August 2, 2024

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SuiNetwork: The Future Of Fast And Affordable Blockchain Transactions

SuiNetwork, a decentralized Layer 1 blockchain, is making waves with its promise of fast and cheap transactions. Developed by Mysten Labs, Sui is designed to make Web3 secure and reliable for everyone. The team behind Mysten Labs includes several former members of Meta’s Novi digital wallet program, with Even Cheng serving as CEO. Backed by major venture capital firms like Binance Labs, a16z, and NCSoft, Mysten Labs raised $300 million in a funding round for Sui's development in September 2022. https://twitter.com/C__thumbs/status/1818176875845259754?t=vZSxaUis_vD58NB8akWdUw&s=19 Sui launched its incentivized testnet in August 2022, followed by the mainnet going live in May 2023. The blockchain aims to integrate the best features of Bitcoin and Ethereum while addressing their limitations by offering reduced latency, instant transaction finality, and increased transaction speed. This results in a fast, private, and seamless DeFi experience. $Sui stands out with several […]

Will Izuchukwu July 31, 2024

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$DEAI Surges 25% As New Announcement Boosts Market Cap

$DEAI, a raising star in the decentralized AI space, is showing significant movement with its Fully Diluted Valuation (FDV) surpassing $290 million and a market cap of $28 million. A recent announcement from Zero1 Labs has fueled a 25% surge in $DEAI’s price over the past 24 hours. Several key factors are driving this growth: 1. ZERO new token emissions for the next 12-16 months: This means no additional $DEAI tokens will enter the market during this period, reducing the risk of dilution and potentially increasing the value of existing tokens. 2. No impact from venture capitalists: With no VCs involved, there is minimal risk of large sell-offs that could drive down the price. 3. Launch of the FHE-based EVM Cypher chain: Scheduled for early 2025, this innovative blockchain technology promises enhanced privacy and security features, further solidifying $DEAI’s position […]

Will Izuchukwu July 30, 2024

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IoTeX Emerges As Key Player In DePIN Market With $20 Billion Market Cap

IoTeX, a layer 1 blockchain optimized for Decentralized Physical Infrastructure Networks (DePIN), is becoming a pivotal narrative in the current cycle, boasting a market cap exceeding $20 billion. According to intotheblock, IoTeX provides a robust and open modular infrastructure for DePIN projects, equipped with a comprehensive suite of tools to develop fully decentralized and interoperable projects. IoTeX has shown substantial growth, now supporting around 564,000 addresses with balances, reflecting a steady increase in recent months. This is a significant rise from the previous bull cycle, where addresses surged from approximately 10,000 to over 250,000. https://twitter.com/intotheblock/status/1817898077384048654?t=_9e-Zia7TAQOD2gDkD-FJg&s=19 IoTex User Base Grows Significantly  Recently, IoTeX has witnessed a significant uptick in adoption rates, indicating a growing user base. This trend is evident from the spike in new addresses, which peaked at 1,500 daily this month—a 494% increase compared to the average at the […]

Will Izuchukwu July 30, 2024

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