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Whales Drive Surge In GMT Price Amidst Heavy Trading Activity

Following a flurry of reports detailing significant purchases by whales, the trading volume of $GMT has skyrocketed by over 500%, propelling its price upwards by more than 24% in the past week.  On-chain reports have now shed light on a specific address, 0xc7e...01c77, which recently transferred a substantial 47.16 million $GMT to Binance, valued at approximately $16.01 million. Over the course of the last five days, this particular address has orchestrated transfers totaling 133 million GMT from Binance, amounting to a staggering $44.06 million. Notably, the average transfer price stood at $0.33, resulting in a current profit of $920,000. https://twitter.com/ai_9684xtpa/status/1772885255562875128?t=P9VY5UAtBKN_Z5Z-hfn1-Q&s=19 More Whale Wallets Accumulates More $GMT Tokens An additional address, 0x8A6...7f7a7, has also been identified as accumulating 12.82 million GMT, equating to $3.9 million, within the same five-day period. These developments suggest the presence of large-scale investors actively amassing funds, […]

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DAO Maker Surges As PUNDU Launches: A Look At Recent Developments

The cryptocurrency market is abuzz with activity, particularly for DAO Maker, a pioneering decentralized autonomous organization (DAO) platform.  As of the latest update, DAO's token is trading at $2.5, marking a significant 14% surge amidst what appears to be a bearish trend in the wider crypto market. This surge is accompanied by a robust 24-hour trading volume of $76.2 million, as reported by CoinMarketCap. The recent uptick in DAO's price can be largely attributed to the launch of PUNDU, a new venture introduced by DAO Maker. The unveiling of PUNDU has generated considerable excitement within the crypto community, leading to heightened interest in DAO's token. PUNDU's sale has commenced on DAO Pad, providing users with the opportunity to participate by contributing USDT on the Binance Smart Chain (BSC). Within a mere 12 hours since the launch, the PUNDU sale has […]

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Crypto Market Sees Modest Recovery Amidst Bearish Trends

After a sluggish start to the trading week, the cryptocurrency market has shown signs of a slight rebound today across various assets, providing a glimmer of optimism for traders and investors alike. Recent on-chain reports have shed light on the movements of smart money players within the market, particularly in response to the recent pullback. Notably, a group of investors who capitalized on the liquidation of $PEPE tokens on March 1, generating a profit of $3.49 million, appears to be strategically positioning themselves for future opportunities amidst the market downturn. https://twitter.com/ai_9684xtpa/status/1770330044067398078?t=4V-cst0a4mnxAOQsSx1Lnw&s=19 Over the past six hours, this cohort of savvy investors has executed a series of asset transfers totaling more than $3.38 million from the popular exchange platform Binance. Notably, this transaction marks the first involvement of this address in transactions involving $CAKE tokens, indicating a potential diversification strategy or […]

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Base Surpasses 1 Million Active Addresses, Leads Ethereum Layer 2s

March 16th marked a significant milestone for Base as it reached over 1 million active addresses, securing its position as the top Ethereum Layer 2 solution. This achievement underscores the platform's growing prominence within the Ethereum ecosystem. https://twitter.com/intotheblock/status/1770002932286493018?t=nw8_5JPJZegNVCcPGBx5zA&s=19 The recent Ethereum EIP-4844 upgrade played a crucial role in enhancing Layer 2 transactions, resulting in a substantial reduction in transaction costs. Both Arb and Base experienced a remarkable 80-90% reduction in fees, making transactions more affordable and accessible to users. https://twitter.com/0xmurloc/status/1770126451993415847?t=1G-0HkttBkdY-hTtuTUkfA&s=19 About 60% Reduction In Fees Recorded Following the Dencun upgrade, daily transactions on Coinbase Ethereum L2 network Base surged to an impressive 2 million, marking a substantial increase from the previous figure of around 440,000 transactions per day. This surge in transaction volume can be attributed to the significant reduction in fees, which plummeted by 60%. https://twitter.com/CryptoLycus/status/1770095293520036220?t=mbq2yrUtRnpfVZNLLkeBKg&s=19 With its growing […]

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Cryptocurrency Activity Surges Across Various Metrics; AI Tokens Gain Traction

As the cryptocurrency market experiences heightened volatility at the end of the week, several assets are exhibiting significantly increased network activity compared to their usual levels over the past three months. https://twitter.com/santimentfeed/status/1768785848538128808?t=jQs5YLATvS3CRNS-n0_6Fg&s=19 According to the Asset Activity Matrix on the santiment feed, certain cryptocurrencies are leading in various categories: Active Addresses: Notable assets in this category include $CVC, $KNC, and $LRC, indicating a surge in user engagement and interaction within these networks. Network Growth: $CVC, $KNC, and $LRC are also prominent in network growth, suggesting an expansion of their respective ecosystems and user bases. Whale Transactions: Assets like $CVC, $CVX, and $KNC are witnessing increased activity from large investors or "whales," potentially influencing market dynamics. $100K-$1M Wallet Accumulation: $CVC, $CVX, and $USDT are attracting accumulation by wallets with significant holdings, signaling confidence or strategic positioning by large investors. Social Dominance: […]

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Algorand Network Sees Surge in Active Users With Over 175K Active Users Amidst Node Reward Criteria Update

The Algorand network experienced a remarkable surge in active users, reaching over 175,000 individuals on a single day. This surge represents a significant increase compared to the year-to-date average of approximately 40,000 users. Notably, the last time Algorand witnessed such high user activity was back in December 2023. https://twitter.com/intotheblock/status/1768306983931703431?t=5Y13_6TOlEjKY_cNTFewXw&s=19 This uptick in user engagement coincides with a pivotal update in the network's node reward criteria. Algorand has implemented a minimum requirement of 30,000 ALGO for nodes to qualify for earning rewards.  https://twitter.com/TxnLab/status/1768403605860560937?t=NOHpcHALEGRgt4DiIVAAEw&s=19 The rationale behind this criterion is to ensure that only committed and dedicated participants are involved in running nodes. By maintaining a threshold, the network aims to uphold its core principles of speed, sustainability, and reliability. However, while this measure enhances the quality of node operators, it also introduces a barrier to entry, limiting participation to individuals or […]

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Arbitrum Gas Fee Reductions Set To Lower Transaction Costs Amid Dencun Upgrade

In an exciting development for the Ethereum ecosystem, gas fee reductions are scheduled to take effect on March 18, offering significant relief to developers utilizing the Arbitrum Layer 2 (L2) solution. This initiative, implemented in conjunction with the Dencun upgrade, promises to slash layer-2 transaction costs by a factor of ten, marking a notable advancement in scalability and affordability. https://twitter.com/arbitrum/status/1768360258161017082?t=kxU8BY8GxAFFfb6LBh3CQQ&s=19 The Offchain Labs group recently deployed an update to ArbOS, known as Atlas, as part of the effort to enhance the efficiency of data transfer between Layer 2 and the Ethereum mainnet. One key feature of this upgrade is the introduction of support for binary big objects (blob) transactions, aimed at reducing the cost associated with transferring data. https://twitter.com/arbitrum/status/1768306107318178061?t=kxU8BY8GxAFFfb6LBh3CQQ&s=19 Despite these positive developments, the value of Layer 2 tokens has continued to experience a decline, with a 4.5% decrease observed […]

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Exciting News As Binance Launches Aevo (AEVO) On Leading Exchanges

In an eagerly awaited development, Binance, alongside other reputable exchanges such as Bitget and Okx, has officially listed Aevo (AEVO) as part of its 48th Launchpool.  https://twitter.com/lookonchain/status/1767896285527642524?s=19 With an initial trading price of $3, AEVO is making waves as a cutting-edge decentralized derivatives exchange (DEX), poised to revolutionize options and perpetual trading in the cryptocurrency space. Reports suggest that market makers for Binance's New Coin Mining Token $AEVO could include industry giants like Amber Group and Wintermute, highlighting the significant interest and involvement of key players in the cryptocurrency market. Just prior to listing, Aevo's project multi-signature address transferred a substantial amount of 9 million AEVO tokens to various addresses, with 700,000 tokens being deposited into OKX.  https://twitter.com/ai_9684xtpa/status/1767742706833649788?t=IanZDPIVrAIY97oRyi5YyA&s=19 Another notable transaction saw Wintermute, a major market participant, receiving 5 million AEVO tokens from the project party's multi-signature address. https://twitter.com/ai_9684xtpa/status/1767747420333789276?t=w8rGzq07N52G8ntBOimMDQ&s=19 The […]

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Space ID Token Surges Amidst Market Downturn

Amidst a general downturn in the cryptocurrency market today, Space ID stands out with a remarkable surge, gaining as much as 20% in value. Yesterday's report revealed significant activity involving Wallet 0x92e, which received a substantial amount of $ID tokens from the SpaceID Protocol multi-sig. Shortly after, the wallet deposited 1 million $ID tokens, valued at $1.38 million, onto Binance. https://twitter.com/spotonchain/status/1767433772721443204?t=YMU8FSJ6UvllrbBhE2yV1Q&s=19 This wallet has a history of receiving $ID tokens from the project's multisig and subsequently depositing them onto centralized exchanges whenever the token's price experienced an uptick. Interestingly, the deposit coincided with a 4% drop in the price of $ID tokens. Despite this temporary setback, the token has continued its upward trajectory, reaching an all-time high today and currently valued at $1.54. Space ID Price Surge Despite The Market Volatility The surge in the price of $ID tokens amidst […]

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MakerDAO Adjusts Fees Amidst Market Volatility

Recent on-chain data from Spotonchain has revealed a significant transaction involving Whale 0x8af in the Maker (MKR) ecosystem. In the past few hours, Whale 0x8af made a strategic move by selling 939.8 MKR tokens for 2.54 million DAI, capitalizing on a 30% increase in MKR value over the past two days.  This decision allowed the whale to lock in profits, considering they had previously withdrawn 4,077 MKR on October 23 at a lower rate, leaving them with 3,077 MKR and an estimated total profit of $5.21 million. https://twitter.com/spotonchain/status/1767019637869334950?t=4JWaiIcMJ9xbX1CaoOYn8g&s=19 Meanwhile, MakerDAO, the protocol behind the Dai stablecoin, has taken proactive measures to address increased market volatility and optimistic sentiment. In response to a decline in Dai reserves, MakerDAO has approved an "Executive Vote" proposing temporary fee adjustments to bolster the protocol's resilience. Purpose Of The New Proposal For Maker Protocol MKR […]

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