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Will Izuchukwu

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Whales Who “Bottom-Fished” Ethereum See Substantial Losses Amid Price Slump

The institutional investor trend and prominent whale address investors dipping into Ethereum ($ETH) to capitalize on its lower price now seems to be a backfire of sorts, with these big-time buyers taking significant losses instead of achieving what they hoped was a temporary low before a stronger upside. This past week, the price of Ethereum took a turn downward, despite the project reaching a historic milestone of 100 million total addresses. Numerous high-profile entities have taken to the dip and are now down significantly just in these past few days. Their accumulated ETH totals in the millions and in some cases even billions. A Wave of Accumulation Turns Into a Sea of Red The address most affiliated with Trump WLFI has made some notable moves of late. Over the past several days, the address has increased its Ethereum balance considerably. […]

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Whale Faces $1.96 Million Loss After Potential Liquidation of $PENDLE Tokens

Once again, the unstable cryptocurrency world has demonstrated its unpredictability, with one whale investor heading for a significant financial loss after an attempt to liquidate $PENDLE tokens. This move comes after months of gains, followed by a sharp reversal that has left this whale in a hard place. The account address 0x97e...9D617 made a significant entry into the $PENDLE market eight months ago and is now suspected to have liquidated approximately 851,000 tokens just an hour ago. If the account owner went through with the transaction (likely an obsessive-compulsive effort to reclaim a clean ledger), the liquidation could result in a mind-boggling $1.958 million loss. A Rocky Journey for the Whale's $PENDLE Investment The tale starts eight months back when 0x97e...9D617 took a position in $PENDLE, a decentralized finance (DeFi) token, acquiring the asset at a starting price of $4.39 […]

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Justin Sun Makes Strategic Moves by Accumulating $OM and $AAVE Tokens

In a noteworthy action that has captured the attention of the cryptocurrency community, Justin Sun, founder of TRON and a leading light in the blockchain space, has recently made significant acquisitions in the cryptocurrency market. Four hours ago, Sun received a considerable amount of tokens, which signals both a new investment direction for him and a return to activity with established assets. His latest purchase involves 250,000 $OM tokens, valued at an impressive $1.72 million, and 2,500 $AAVE tokens, worth around $535,000. Not only do these acquisitions represent a significant milestone in his portfolio, but they also suggest a strong belief on Sun's part in the future potential of these assets. First-Time Accumulation of $OM and Return to $AAVE After Nine Months The transaction occurred through Poloniex's multisig wallet and was a major event for Justin Sun's portfolio. This was […]

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Large ENA Token Movements Reflect Market Shifts

This week has witnessed prominent movement in the ENA token ecosystem, showing a far more pronounced degree of activity than in recent weeks. A full 2.07 billion ENA tokens have been unlocked—this is a portion that impacts the ENA token ecosystem without a direct linkage or a breach of subsisting agreements made with the ENA Development Foundation—and the unlocking seems to correlate with the appearance of several market movers. The obvious question raised: who, or what, is behind this movement? Key Transactions: New Wallet and Amber Group Activity On May 3rd, the first noteworthy transaction took place. A new wallet address, which we now know as 0x320...1Efd4, unlocked a gigantic 9.34 million ENA tokens. The value of what was received on that day came to about 3.47 million US dollars, based on the current market prices. Not long after, though, […]

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Ethena Labs’ Wallets Deposit $14.71M in ENA Tokens to Binance, Raising Market Speculation

In a high-value transfers, three wallets connected to Ethena Labs have, in the past two hours, shifted a total of 38.365 million ENA tokens to Binance. Those tokens are worth about $14.71 million. The sheer size and the rapid pace of these transfers are raising eyebrows and prompting some crypto-watchers to wonder if the team at Ethena Labs has some kind of plan in mind—especially given that the price of the ENA token itself isn't in the greatest state right now. The transfers originated from three distinct wallets: 0x4448ea1e76fe2eee5aaf6582ddc737eb0017cfe2, 0xab2eedf5cf6e534b3ab8e2a71f7457228138c1b3, and 0x7e617f54a9ede23e687513c3af896e6c5d64c4f8. They deposited at an average price of $0.383 per ENA, with each wallet transferring a considerable part of the total. - Address 0x444 deposited 17 million ENA tokens, which amount to around $6.51 million. The 0xab2 address moved 12.865 million ENA, approximately $5.02 million worth, on May 18, 2023. […]

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Whale Behind Genesis Trading’s Liquidation Compensation Sells 40,000 ETH, Potential Market Impact Looms

A significant competitor in the cryptocurrency world, purportedly the whale who got the biggest payout from the liquidation of Genesis Trading last August, has sold a substantial amount of their Ethereum (ETH) holdings in the past two days. This huge transaction is perplexing to market analysts, as the individual or institution behind the sale offloaded 40,000 ETH valued at $89.2 million through over-the-counter (OTC) brokers. The funds were divided between Galaxy Digital and FalconX, two well-known firms in the crypto finance world, which has sparked some worries over potential market volatility. This whale was compensated with a staggering 114,500 ETH ($358.19 million) from the liquidation that followed Genesis Trading’s bankruptcy. The address was the largest recipient of ETH from that event, and at the time of the compensation, the ETH was worth $3,128 apiece. Now Ethereum is worth only about […]

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KaitoAI’s $KAITO Token Listed on Upbit Amid Significant Market Activity

The KAITO token linked to the AI virtual asset data platform KaitoAI is now listed on Upbit, which is the largest digital asset exchange in South Korea. This is very good news for KaitoAI. The token is now listed at Upbit with the trading pairs KAITO/KRW, KAITO/BTC, and KAITO/USDT. Deposits and withdrawals for KAITO are also now live at the exchange, which is very important. https://twitter.com/Crypto_Dep/status/1897216777798435030?t=ziZ_rNb2qdrC6AJ1l8Wn6w&s=19 KaitoAI, recognized for its aim to construct an Information Finance (InfoFi) network, has been drawing attention for its innovative way of assigning value to information. Its models are participant-driven, which means that you and I—as participants in the platform—affect the way data is valued economically. This is the first platform I've come across whose main aim is to create an ecosystem in which you and I can influence the economic value of data. Suspicious […]

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GoPlusSecurity’s $GPS Token Sees Significant Exchange Inflows Amid Strong Fundamentals

The $GPS token from GoPlusSecurity has felt renewed investor interest as inflows into exchanges have surged. This comes as the token was recently trading at a low of $0.069. According to on-chain data, big transfers of $GPS tokens have been made into what are called "hot wallets" on several major centralized exchanges (CEX) like Binance and Gate.io. Meanwhile, GoPlusSecurity's own user base and number of "active wallets" continue to grow, a trend that only bodes well for the token's future. Overall, none of this week's data suggests that the $GPS token is headed for anything but a favorable outcome. Exchange Inflows Highlight Strong Investor Confidence The past 24 hours have seen a notable amount of $GPS flowing into centralized exchange wallets. This is a clear sign of renewed interest and potential buying pressure for the token. One of the largest […]

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FTX/Alameda Unstaked $432.5 Million in $SOL, Likely to Fuel Deposits to Coinbase and Binance

A significant action in the world of cryptocurrency has just unfolded. FTX/Alameda has unstaked and distributed 3.03 million Solana ($SOL), worth about $432.5 million, to 37 different wallets. This move comes just hours before this writing, and the Imminent Act of Distribution (a.k.a. "the IAD") is causing quite a stir in the community. What was the intention? Is it a preliminary step in a larger plan? Why do it now with so much Solana? The next few hours and days may provide the answers. FTX/Alameda's Largest Unstaking Since November 2023 The most recent transaction represents the biggest unstaking event carried out by FTX/Alameda since November 2022. It is a clear indication that the troubled crypto firm might be attempting to make some kind of significant change in the marketplace. This move was timed very closely with the upcoming release of […]

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Hackers Launder $1.39 Billion Stolen from Bybit, Impacting ETH Price and THORChain’s Transaction Volume

In a well-coordinated cyber heist, hackers have successfully laundered an incredible 499,000 ETH, valued at around $1.39 billion, taken from the cryptocurrency exchange Bybit. The laundering process, which lasted 10 days, used several advanced methods and made ample use of mixers to obscure the heist's trail. Despite serving as a massive wake-up call about the security of digital assets, the hack has managed to impact the cryptocurrency market in a big way. While the price of Ethereum (ETH) is down around 23% during the same period as the hack, the price of many other cryptocurrencies is down, too. The Complex Money Laundering Operation The scheme to steal from Bybit, one of the top crypto exchanges, was large and messy. Almost 500,000 ETH got taken. And as you can imagine, moving that much cryptocurrency into the real world is hard to […]

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