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Will Izuchukwu

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Large ETH Holders Accumulate As Layer-2 Solutions Transform Ethereum’s Landscape

On Thursday, large Ethereum holders recorded a net inflow of 267,000 ETH, marking the highest daily accumulation since March. This surge in accumulation underscores the growing confidence in Ethereum's evolving ecosystem. https://twitter.com/intotheblock/status/1800097893946192175?t=pgAF_Zfp4pJXiqNRev1dHg&s=19 Delving into Ethereum's network activities through the lens of IntoTheBlock reveals a dynamic and innovative landscape. As Ethereum continues to develop, layer-2 (L2) solutions such as Arbitrum, Optimism, and Base are significantly reshaping its economic framework by offering lower transaction fees and fostering a rich ecosystem of applications. Investors Show Preference For Arbitrum  The adoption of these L2 solutions has led to a notable decrease in Ethereum's transaction fees, bringing them to a six-month low. This shift underscores the increasing preference for scalable solutions that enhance transaction efficiency and reduce costs. Among these solutions, institutions have shown a marked preference for Arbitrum due to its dominant transaction volume. […]

Will Izuchukwu June 10, 2024

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Controversy Surrounds Egypt Cat ($SPHYNX) Launch Amid Insider Trading Allegations

The recent launch of Egypt Cat ($SPHYNX) has been marred by accusations of unfair practices. An insider reportedly manipulated the market by using 10 newly created wallets to purchase 496.2 million $SPHYNX, which accounts for 49.62% of the total supply. These 10 wallets were set up just one hour before the token's launch and funded with $SOL withdrawn from Binance. The insider spent 3,890 $SOL (approximately $670,000) to acquire the 496.2 million $SPHYNX within a single second of trading commencing. Subsequently, the insider distributed the $SPHYNX tokens across nearly 300 different wallets. https://twitter.com/lookonchain/status/1798788193988514058?t=ZGiKBAzMd-FdojwuuAAMsA&s=19 Another Whale Earned 3,137 SOL In Just An Hour Further scrutiny from Lookonchain uncovered another instance of rapid profit-making. A trader managed to earn 3,137 $SOL ($540,000) in just one hour. This trader successfully spent 120 $SOL to buy Egypt Cat ($SPHYNX) within one second of trading […]

Will Izuchukwu June 8, 2024

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TheRoaringKitty’s Livestream Sparks Dramatic Surge In GME, KITTY, and AMC

The June 8th livestream by @TheRoaringKitty has set off a dramatic rally in the stocks $GME, $KITTY, and $AMC. Leading the pack, $GME skyrocketed over 70% today, reaching an all-time high of $0.032. This surge was accompanied by a 531% increase in its 24-hour trading volume. A notable transaction occurred just hours ago, where a trader invested 6,460 $SOL (approximately $1.1 million) to purchase $GME and $KITTY on the Solana blockchain. This included an expenditure of 5,000 $SOL ($850,000) to acquire 35.99 million $GME at $0.02362 per token, and 1,460 $SOL ($248,000) to buy 8.6 million $KITTY at $0.02891 per token. https://twitter.com/lookonchain/status/1798893647330676926?t=mYNJSLqA6ZzZK6fyC_et4A&s=19 Whale Makes $1.4 Million Unrealised Profits From $GME Investment  In another significant move, a trader who previously spent 12,110 $SOL ($2 million) to purchase 135 million $GME in a single transaction is now sitting on an unrealized profit […]

Will Izuchukwu June 8, 2024

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Altcoins Surge Amid Bitcoin Profit Redistribution: Social, BSC, and Gaming Sectors Lead

As Bitcoin's price soars to a peak of $71.7K, altcoins are experiencing significant gains driven by profit redistribution. In the past week, altcoins in the social sector have seen an average rise of 11.4%, those on the BSC and Binance Chain have risen by 6.9%, and the gaming sector has increased by 6.5%. https://twitter.com/santimentfeed/status/1798507585160790351?t=FnNxVJ--vTuBS7JqoaLpUw&s=19 Among the top performers are Cardano, Shiba Inu, and Jasmy, each benefiting from heightened whale interest. The volume of $100K+ transactions on these networks has more than doubled this week compared to the usual 2024 averages, indicating strong accumulation activity. Cardano, a well-established player in the blockchain space, has seen a notable uptick as large investors flock to its network. The increased transaction volume reflects confidence in Cardano's long-term potential and its robust ecosystem. https://twitter.com/santimentfeed/status/1798485319551168939?t=FMPqbM6OLjPPXTf-bU0bEQ&s=19 Shiba Inu, often dubbed a "meme coin," is demonstrating its growing […]

Will Izuchukwu June 7, 2024

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Trondao May 2024: A Month Of Growth And Stability

Trondao, the thriving blockchain ecosystem, experienced notable growth and stability in May 2024 across various key metrics. Let's delve into the highlights. Trondao's income statement reflected promising growth, with revenue and fees climbing by 9.2% compared to the previous month. Impressively, earnings surpassed the $20.35 million mark, indicating a robust financial trajectory. https://twitter.com/Coin98Analytics/status/1798020689154469921?t=kJFvDUrqZnVjFEW2ll-tlQ&s=19 The number of TRX holders surged, surpassing 130 million in total. Notably, TRX experienced consistent burning, outpacing its generation rate since the year began. This sustained reduction in TRX supply has led to deflation for an impressive 632 consecutive days. Tron Ecosystem Growth And TVL Spike Within the TRON ecosystem, May witnessed a flurry of activity, with over 196 million transactions executed. Additionally, more than 6.2 million new addresses were created, bringing the total number of unique addresses to 223.5 million, showcasing the ecosystem's growing user base. […]

Will Izuchukwu June 5, 2024

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Layer 2 Monthly Report: May 2024, Introduction of Taiko and Layer 2 Ecosystem Metrics

May 2024 marked the launch of a new Layer 2 solution, Taiko, with an airdrop event scheduled for early June. This report evaluates the performance of other Layer 2 platforms across various ecosystem metrics. Total Addresses by Chain    - Optimism continues to lead with 144 million total addresses.    - Base follows with 75.3 million addresses.    - Arbitrum holds third place with 28.7 million addresses. Daily New Addresses    - Throughout May, Optimism and Arbitrum alternated as leaders in daily new address counts.    - Notably, Base experienced significant growth, recording nearly 742,000 new addresses on May 31 alone.    - The highest growth rate in new addresses was observed in Blast, with a month-over-month increase of 39%.    - Total new addresses created in April were led by Arbitrum and Optimism with 6.4 million and 6.2 million new addresses, respectively. Daily Transactions    - The […]

Will Izuchukwu June 5, 2024

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Velocore Suffers $6.8 Million Loss In Major Attack

Velocore, a decentralized finance (DeFi) platform, recently experienced a significant security breach resulting in the loss of over $6.8 million. The attacker exploited a vulnerability within the LP Pool contract, ultimately transferring the stolen funds to Ethereum and then laundering them through Tornado.Cash. The attacker, identified by the address 0x8CDc37eD79C5EF116b9Dc2A53Cb86ACaca3716bF, used a sophisticated method to manipulate the platform’s feeMultiplier parameter. This parameter directly affects the number of tokens exchanged in transactions. By constructing a specific parameter to invoke the velocore__execute function (0xec378808) of the LP contract, the attacker successfully altered the feeMultiplier. https://twitter.com/BeosinAlert/status/1797168817292148943?t=wcT624oAIohWwDbDAtz_QA&s=19 Following this manipulation, the attacker proceeded to exploit the altered feeMultiplier parameter by calling the execute function (0xd3115a8a) via the router contract. This allowed the attacker to drain significant funds from the LP pool. The stolen assets were then bridged to Ethereum, converted into $ETH, and subsequently […]

Will Izuchukwu June 3, 2024

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Aevo Shows Long-Term Commitment with Token Unlock Strategy

Aevo has made significant strides in its token circulation strategy, recently unlocking enough tokens to bring its circulating supply to approximately 85%. To demonstrate a long-term commitment to its investors, the team has re-locked the remaining 15% until the end of the year. By the end of 2024, Aevo’s circulating supply will reach 100%. https://twitter.com/aevoxyz/status/1796452291119374731?t=my6jN7569aOcO3azwe59vw&s=19 This move positions Aevo as one of only two projects launched through the Binance Launchpool this year that will achieve full circulation by the end of 2024. This full circulation milestone reflects the project's transparency and dedication to its community, aiming to foster investor confidence and stability within the market. Notable Token Unlocks Set For June According to data from TokenUnlocks, June will see a series of substantial token unlocks across various projects, with amounts exceeding $10 million each. The notable tokens set for unlock […]

Will Izuchukwu May 31, 2024

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Key Levels To Watch For $AVAX: Insights From IntoTheBlock

A recent report by IntoTheBlock has highlighted crucial price levels for Avalanche ($AVAX) that investors should monitor. These levels are identified based on the profitability of current holders and can act as significant support or resistance zones. https://twitter.com/intotheblock/status/1795845386378056004?t=lFJHhIkWdHJAgy7-zWk8fw&s=19 Green Bubble: Demand Zone at $32 The green bubble represents addresses that are currently in profit. Specifically, it includes 979,000 addresses that acquired 23.5 million $AVAX at an average price of $32. This level is a key demand zone and can act as strong support if the price retraces to these levels. Investors might consider this a buying opportunity, reinforcing the price around this point. Red Bubble: Resistance at $48 Conversely, the red bubble indicates addresses that are currently at a loss. This comprises 1.02 million addresses that bought 22 million $AVAX at an average price of $48. If the price starts […]

Will Izuchukwu May 30, 2024

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Solana Memecoin $WIF Dogwifhat Surges To Two-Month High

$WIF Dogwifhat, the largest memecoin on the Solana blockchain, has surged to a two-month high, briefly reclaiming the $4 trading mark with a 7% increase in value today. This notable rise continues to capture the attention of the crypto community, particularly that of a savvy trader who has leveraged $WIF's price movements for substantial profits. The 1,000x Winner's Strategic Moves One trader, often referred to as the "1,000x winner," has expertly timed his trades to maximize his returns on $WIF. On December 8, 2023, he invested a modest $5,879 to purchase 6.1 million $WIF tokens, which are now worth an impressive $23.7 million. As $WIF's value climbed, he strategically sold 4.7 million $WIF tokens, realizing profits of $1.57 million. https://twitter.com/lookonchain/status/1795761067475517731?t=W9rA02xwDT-YA9gzETvSeg&s=19 Current Holdings and Overall Gains Despite these sales, the trader still holds 1.4 million $WIF tokens, currently valued at $5.47 […]

Will Izuchukwu May 30, 2024

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