Altcoin
40,000 Ethereum Withdrawn From Derivativees, Mpeppe Joins Altcoin Surge As ETH Whales Join Pump
The cryptocurrency market is no stranger to volatility, and Ethereum (ETH) has been at the center of it. Recently, Ethereum (ETH) whales have been quiet, leading to price stagnation, but the latest developments suggest that we might see a change. A large withdrawal of 40,000 ETH from derivatives platforms has drawn attention, signaling a potential rally. At the same time, Mpeppe (MPEPE), a decentralized casino project, is making waves in the altcoin space, attracting significant interest from ETH whales.
Ethereum Whales Quiet Since July: A September Comeback?
Since July, Ethereum (ETH) whales, who have historically influenced ETH’s price, have reduced their activity. On-chain data shows that addresses holding over 10,000 ETH have been either selling or redistributing their holdings, contributing to Ethereum (ETH)’s sluggish price performance. Between early July and mid-August, Ethereum (ETH) experienced a price surge from $2,930 to $3,485. However, ETH struggled to break through the $3,500 resistance level.
The inactivity of ETH whales has caused Ethereum (ETH) to trade sideways, hovering around $2,300 in early September. While many have speculated that Ethereum (ETH) could face a prolonged downtrend, the arrival of September, a month often associated with increased volatility, could signal a change. The big question is whether these whales will resume buying as the market approaches October, a month known for bullish trends in crypto markets, often referred to as “Uptober.”
Mpeppe (MPEPE) Joins Altcoin Surge: A Rising Star
While Ethereum (ETH) faces uncertainty, Mpeppe (MPEPE) is rising as a star in the altcoin space. Mpeppe (MPEPE), a decentralized meme coin with a twist, combines the fun of a meme coin with real utility—its decentralized casino platform. This unique combination has made Mpeppe (MPEPE) an attractive investment for both casual gamblers and serious investors.
Built on the Ethereum (ETH) blockchain, Mpeppe (MPEPE) allows users to stake tokens, gamble in a transparent and decentralized environment, and earn rewards. The platform’s provably fair games, recorded on the Ethereum (ETH) blockchain, offer users a secure way to participate in online gambling, a space traditionally dominated by centralized platforms.
Mpeppe (MPEPE)’s recent surge of 121% in value has caught the eye of ETH whales looking to diversify their portfolios. As ETH whales anticipate a potential recovery in Ethereum (ETH)’s price, many are also turning to Mpeppe (MPEPE) for more immediate gains, making it one of the standout projects in the altcoin rally.
Ethereum’s Network Growth and Price Predictions
Despite the inactivity of ETH whales, Ethereum (ETH) has seen a surge in network activity. On September 9, Ethereum (ETH) experienced the creation of over 126,000 new wallets, marking the highest level of network growth in nearly four months. This sudden spike in wallet creation pushed Ethereum (ETH)’s price briefly back up to $2,300, signaling increased demand for the asset.
However, this surge in user activity may be short-lived, as the number of new wallets has since fallen to around 30,400. This decline suggests that Ethereum’s price boost may not be sustainable in the short term. On the retail side, analysts have identified key resistance levels for Ethereum (ETH) at $2,384, $2,278, and $2,149, suggesting that Ethereum (ETH) could struggle to break through these barriers without renewed whale activity.
Currently, the Balance of Power (BoP) indicator shows stronger selling pressure, which could lead to a reversal of Ethereum (ETH)’s recent gains. If sellers continue to dominate, Ethereum’s price could fall to $2,278, with further selling pressure potentially pushing it down to $2,149.
However, this outlook could quickly change if ETH whales resume significant buying. A renewed interest from these large holders could trigger a rally that pushes Ethereum (ETH) toward the $2,645 mark. Investors are keeping a close eye on whale activity, knowing that a sudden surge in buying could reverse Ethereum’s current downtrend.
Mpeppe’s Role in the Altcoin Rally
As Ethereum (ETH) whales consider their next move, many are looking at Mpeppe (MPEPE) as an exciting opportunity to diversify their holdings. The recent 40,000 ETH withdrawal from derivatives platforms suggests that whale investors may be preparing for a significant move, and Mpeppe (MPEPE) is emerging as one of the leading contenders in the altcoin market.
Mpeppe (MPEPE)’s decentralized casino platform, combined with the viral appeal of meme coins, makes it a unique and attractive project in the current market. As Ethereum (ETH) struggles with price resistance, Mpeppe (MPEPE) offers ETH whales a chance to invest in a project with high growth potential, both as a speculative investment and a utility-driven platform.
With Mpeppe (MPEPE)’s launch on Uniswap, ETH whales and retail investors alike are flocking to the platform, eager to take part in its decentralized gambling ecosystem. The combination of fun, financial rewards, and transparency has positioned Mpeppe (MPEPE) as a key player in the altcoin rally.
Conclusion: Ethereum Whales and Mpeppe’s Bright Future
While Ethereum (ETH) has faced price stagnation in recent months, the latest developments suggest that whale activity may soon pick up, potentially leading to a price rally. At the same time, Mpeppe (MPEPE) is riding the altcoin surge, attracting attention from ETH whales and retail investors alike.
As Ethereum continues to face resistance at key levels, Mpeppe’s decentralized casino platform offers a unique alternative for investors looking to capitalize on the altcoin rally. With its fun and functional approach, Mpeppe (MPEPE) is well-positioned to be one of the standout projects of 2024, making it a must-watch for both Ethereum holders and new investors.
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Crypto expert Egrag Crypto has again predicted that the XRP price could rally to as high as $27. The analyst has also revealed the exact timeline for when the altcoin could record this massive price surge.
Expert Reveals Time For XRP Price To Hit $27
In an X post, Egrag Crypto asserted that the XRP price can hit $27 in 60 days. The expert remarked that historical patterns indicate that the altcoin can reach this target within this timeframe.
Based on this price prediction, XRP could reach this $27 target by June, marking a 1,250% gain for Ripple’s native crypto. The expert’s accompanying chart showed that he was alluding to the 2017 bull run as to why the altcoin could record such a parabolic rally.
In 2017, XRP recorded a historic gain of over 60,000% as it rallied to its current all-time high (ATH) of $3.8 the following year. As such, based on history, a 1,250% increase is nothing for the altcoin.
In the meantime, the XRP price still boasts a bearish outlook thanks to the sentiment in the broader crypto market. As CoinGape reported, Ripple’s coin could drop to the next major support levels at $1.79 and $1.56 if it fails to hold above $2.03.
Decision Time For The Altcoin
In an X post, crypto analyst CasiTrades stated that it is decision time for the XRP price. She noted that the altcoin is showing strength with a bounce right back to the first key test at $2.17. She added that this is the resistance level she wants to see flip into support, as it might be the “most important price of the week.”
The analyst stated that XRP must reclaim this level to build momentum. She added that the $2 level remains a valid target if the $2.17 level rejects. Meanwhile, CasiTrades revealed that $2.70, $3.05, and $3.80 are the major resistance zones once the upward trend is confirmed.
The analyst also mentioned that the XRP price is now fully inside the Fibonacci Time Zone 3, which spans most of April. She affirmed that this is the breakout window market participants have been preparing for and that all signs point to a macro wave.
CasiTrades affirmed that the structure is clean. The RSI divergence has confirmed the bottom, while the subwaves are aligning well with the larger targets. If the next leg pushes XRP back above $2.17 with momentum, she claimed that market participants may finally see obvious signs of Wave 3. Interestingly, the analyst added that if the altcoin clears $2.70 this week, it may break the $1,000 price extension.
For now, investors may remain cautious, especially seeing how XRP fell after the PMI and JOLTS data release earlier today. Donald Trump is also set to announce reciprocal tariffs tomorrow, which could spark a massive price crash.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A recent Binance update has triggered massive liquidations while sending Solana memecoin ACT into a steep correction. At first, pundits blamed market maker Wintermute for the jarring declines but Binance’s update to leverage and margin tiers appears to be the culprit.
Several Altcoins on Binance Suffer Massive Corrections
According to an X post, several altcoins listed on Binance took a major hit, dropping by double-digit percentages. The hardest hit of the lot was Solana memecoin ACT, experiencing a sudden drop of over 50% in 30 minutes.
Other altcoins including DEXE and DF equally recorded steep declines of 23% and 16% respectively in the same window. The price slump left traders scratching their heads but a consensus formed that sizable sell orders were behind the declines.
“The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume,” said one pundit.
Others turned to market maker Wintermute as the trigger for the selloff. However, Wintermute CEO Evgeny Gaevoy denied responsibility while noting that the market maker reacted “post move.”
The decline comes amid a broader market recovery with several cryptocurrencies including Compound (COMP) gaining 70%.
What Triggered The 50% Decline For Solana Meme Coin
A Binance update on leverage and margin tiers on specific tokens like ACT triggered the massive declines. According to an April 1 announcement, the top exchange has updated the margin tiers of several perpetual contracts, noting that existing positions will be affected.
Following the move, one ACT whale got liquidated for $3.79 million at $0.1877, triggering a broad selloff. Former FTX community manager Benson Sun noted that traders had less than 3 hours to respond to the change, criticizing Binance for the move.
“Before changing the rules, Binance should have evaluated how many positions would be closed,” said Sun. “If there are market makers with large positions, they should have notified them in advance.”
Within hours of MUBARAK’s listing, the memecoin tumbled by 40% with Binance CEO Changpeng Zhao downplaying the impact of a listing on prices. Binance has drawn criticism in recent days following its exclusion of Pi Network from its Vote To List initiative.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A crypto market crash looks imminent, with Bitcoin, Ethereum, XRP, and Dogecoin witnessing notable declines. This price crash happened following the release of weak manufacturing PMI and JOLTS data, which provides a bearish outlook for the market.
Crypto Market Crash: BTC, ETH, XRP, & DOGE Decline
CoinMarketCap data shows that a crypto market crash could be on the horizon, with the Bitcoin price sharply dropping below $83,000 from a daily high of around $84,400. Altcoins such as Ethereum, XRP, and DOGE also witnessed sharp declines.
This market crash occurred following the release of weak ISM manufacturing PMI and JOLTS data. The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February.
The US JOLTS job openings for February came in at 7.568 million, below the expected 7.690 million and lower than the 7.762 million recorded in January. These data add to several macro fundamentals that paint a bearish outlook for the market.
This crypto market crash could persist, with China, Japan, and South Korea agreeing to respond to Donald Trump’s proposed tariffs. Trump is set to announce a number of reciprocal tariffs tomorrow, which could significantly harm the market as it sets off a trade war between the US and other nations.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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