Altcoin
Savvy ETH Whale Turns $20,000 Into $200,000 With Starknet and Mpeppe Two Of The Hottest Coins Right Now
In the fast-paced world of cryptocurrency, the right timing and investments can lead to massive profits, especially for savvy investors who know where to place their bets. One Ethereum (ETH) whale has managed to turn a modest $20,000 investment into a staggering $200,000 by smartly diversifying into two of the hottest cryptocurrencies of the moment: Starknet (STRK) and Mpeppe (MPEPE). As both coins experience significant price movements, investors are taking a closer look at how these tokens are redefining the market.
Starknet’s Struggles Amid Market Gains
Despite broad market surges, Starknet (STRK) recently experienced a sharp 3% decline. As Bitcoin and other altcoins surged in value, Starknet (STRK) failed to capitalize on the bullish momentum. According to data, STRK saw its price dip to $0.4137, sparking concerns among investors. This decline has largely been attributed to large-scale transactions linked to the Three Arrows Capital (3AC) liquidation process, which saw 2.07 million STRK tokens transferred for an over-the-counter (OTC) sale on September 9.
Three Arrows Capital, which filed for bankruptcy following the Luna crash of 2022, continues to sell off assets to pay down its massive debts. As more Starknet (STRK) tokens are offloaded, many fear that STRK could experience further price drops in the coming days. However, some investors remain optimistic, viewing this dip as a potential buying opportunity.
Why Starknet (STRK) Fell
The liquidation process of Three Arrows Capital has cast a long shadow over Starknet (STRK). On-chain data revealed that the insolvent company’s liquidation address transferred 2.07 million STRK tokens (valued at approximately $856,000) to Wintermute for sale. The transfer of such a significant amount of tokens for an OTC sale has caused many to speculate that further downward pressure could be placed on the coin in the near term.
As the Three Arrows Capital liquidation unfolds, more crypto assets—including Starknet (STRK)—are expected to be sold off. This has led to increased selling pressure on the token, pushing its price down as a result. Crypto enthusiasts are keeping a close eye on whether Starknet (STRK) can recover once these liquidations are completed.
Ethereum (ETH) Whale Takes Advantage of Market Shifts
While Starknet (STRK) faced challenges, some Ethereum (ETH) whales saw this as an opportunity to capitalize on the downturn. One savvy ETH whale invested heavily in both Starknet (STRK) and the up-and-coming Mpeppe (MPEPE), turning a $20,000 initial investment into a 10x return. Mpeppe (MPEPE), a casino-themed cryptocurrency, has quickly become a fan favorite due to its strong community backing and the potential for significant short-term gains.
This Ethereum (ETH) whale’s strategy reflects a broader trend among investors who are looking for projects with high upside potential. While Ethereum (ETH) remains a dominant player in the crypto space, many of its investors are seeking new opportunities with smaller, faster-growing tokens like Starknet (STRK) and Mpeppe (MPEPE).
Mpeppe (MPEPE): The Newcomer with High Potential
Mpeppe (MPEPE) is making waves in the crypto community with its innovative approach to decentralized gambling. With a current price of $0.0021, Mpeppe (MPEPE) has attracted a loyal following of both retail and institutional investors, including ETH whales. The coin’s unique combination of meme culture and decentralized finance (DeFi) features makes it a prime candidate for explosive growth.
Mpeppe (MPEPE)’s presale has already gained significant momentum, and investors are eagerly awaiting its full launch. With projections of 150% gains in the short term, Mpeppe (MPEPE) is positioning itself as one of the top investment opportunities for those looking to capitalize on new, fast-growing projects.
Why Ethereum (ETH) Investors are Flocking to Mpeppe
Ethereum (ETH) investors, in particular, have shown a keen interest in Mpeppe (MPEPE). As ETH whales search for opportunities to diversify their portfolios, Mpeppe (MPEPE) offers the potential for outsized returns compared to more established assets like Ethereum (ETH). The relatively low price point and promising market dynamics make Mpeppe (MPEPE) an attractive investment, especially for those looking to maximize their profits in a short period.
Additionally, the decentralized gambling space is a growing market, and Mpeppe (MPEPE) is well-positioned to take advantage of this trend. With more investors piling in, the demand for Mpeppe (MPEPE) is likely to increase, driving its price higher.
Conclusion: The Future of Starknet and Mpeppe
While Starknet (STRK) continues to face challenges due to the Three Arrows Capital liquidation, many investors see this as a temporary setback. If the token can stabilize and recover from the current price dip, it could offer a strong upside for those willing to take the risk. On the other hand, Mpeppe (MPEPE) is emerging as a powerful contender in the cryptocurrency market, with significant growth potential.
For Ethereum (ETH) whales and other savvy investors, the combination of Starknet (STRK) and Mpeppe (MPEPE) presents a unique opportunity to diversify and capitalize on both long-term and short-term gains. As the crypto market continues to evolve, these two tokens could prove to be some of the most profitable investments of 2024.
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As the cryptocurrency market evolves, it’s becoming evident that hype alone can’t sustain a token’s value. This realization has led some of the largest Bonk (BONK) holders, known as “whales,” to diversify their portfolios by investing in GoodEgg (GEGG). Experts are now predicting a potential 100x return on GoodEgg (GEGG), with some of the most prominent Bonk (BONK) whales taking early positions in the token’s presale.
More Than A Memecoin: Bonk Whale Shift to GEGG
One of the largest Bonk (BONK) holders, previously known for their substantial investments in the meme coin space, has recently made headlines by becoming an early investor in GoodEgg (GEGG). This shift comes as Bonk (BONK) continues to face declining momentum, losing 2% in value over the last 24 hours, with weekly losses stacking up to 10%. The whale’s move reflects a growing sentiment that the current meme coin market is becoming oversaturated, with investors searching for projects that offer more than just speculative gains.
Bonk (BONK), once a rising star on the Solana network, has seen a significant reduction in trading volume, and many analysts believe that its future will depend heavily on finding new utility or partnerships to maintain investor interest. While the Bonk (BONK) community remains hopeful, the shift of whales to projects like GoodEgg (GEGG) highlights a growing trend among larger investors who prioritize long-term growth over short-term gains.
GoodEgg’s Strong Fundamentals
In contrast, GoodEgg (GEGG) offers more than just hype. It is a utility-driven project with an AI-based dating platform that leverages blockchain for security and privacy. The project’s innovative approach to online dating has sparked interest from investors who see it as a real-world solution with significant potential for user adoption.
GoodEgg’s presale has already raised over $495,000, showing that investors are eager to get in early on this project. The platform’s combination of blockchain security and AI matching technology provides a fresh approach in a saturated online dating market, which is expected to grow significantly in the coming years.
Experts Predict 100x Gains and Long-Term Scalability
Market analysts are now predicting that GoodEgg (GEGG) has the potential to generate 100x returns for early investors, particularly as its platform begins to attract more users and integrates additional features. The scalability of GoodEgg (GEGG) in the dating industry, combined with its AI-driven capabilities, gives it an edge over traditional meme coins like Bonk (BONK).
While Bonk (BONK) struggles to maintain its market position, GoodEgg (GEGG) is gaining traction among both retail and institutional investors. The whale’s entry into GoodEgg (GEGG) has further validated the project’s potential, with many now looking at it as the next big thing in the crypto space.
As the presale continues, those who missed out on Bonk (BONK) during its early days are now looking at GoodEgg (GEGG) as their next opportunity for massive gains. With strong fundamentals and a clear roadmap, GoodEgg (GEGG) is positioned to become a major player in the crypto market, leaving Bonk (BONK) in the dust as it builds a long-term, sustainable future.
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FIDA and MEW, cryptocurrencies based on the Solana blockchain, saw noteworthy positive sentiment on Thursday as they secured vital listings. Solana Name Service (FIDA) secured a listing on Binance, whereas cat in a dogs world (MEW) scored a listing on Upbit. These listings have garnered significant attention globally as the tokens’ prices skyrocketed 25%-30% in tandem with the announcement.
Solana Tokens FIDA & MEW Secure Vital Listings On Binance & Upbit
According to official announcements by the mentioned exchanges on September 19, both the tokens are set to witness particular listings today. As per Binance’s official announcement, the crypto exchange is set to launch FIDAUSDT USD-Margined perpetual contract today at 12:30 UTC. Simultaneously, Upbit’s announcement revealed that it listed MEW with BTC and USDT pairs on the same day.
Intriguingly, Binance revealed that it listed FIDA with up to 75x leverage for users on the platform. Further, the crypto exchange set the capped funding rate at +2.00% / -2.00%.
Simultaneously, Upbit Korea listed cat in a dogs world within BTC and USDT markets. The Asian crypto exchange revealed that it will also add transaction support starting today.
The Solana coins listings have primarily sparked market optimism over future movements, paving the way for new money inflow into the tokens.
Tokens’ Prices Rocket Over 25%
Simultaneously, FIDA price gained nearly 45% against the backdrop of Binance’s listing announcement. The coin rested at $0.3243 today with an intraday low and high of $0.2204 and $0.3297, respectively.
Similarly, MEW price pumped nearly 26% to reach $0.00533 riding the back of Upbit listing. The coin’s 24-hour low and high were $0.00407 and $0.005728, respectively.
Meanwhile, the rising price action primarily aligns with today’s listing announcements, as seen with numerous tokens previously. CoinGape Media reported Kadena (KDA) price surged nearly 30% with its futures listing on Binance.
Also, another report reveals that PEPE and BRETT prices pumped notably on their listings on Upbit. Altogether, the exchanges’ listings rationalize today’s massive price gains.
Simultaneously, Coinglass data illustrated an 82% surge in MEW’s futures OI to $76.31 million. Additionally, the coin’s derivatives volume skyrocketed 531% to $735.63 million today. This surge has projected further optimism for the Solana-based token. Also, it’s worth noting that Solana (SOL) price upsurged 8% to trade at $140 today.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
XRP News: Ripple-partner SBI Holdings has confirmed participation in Project Agora, a joint initiative led by the Bank for International Settlements (BIS) and seven central banks. XRP community reacted to the development due to speculation of potential integration or alignment for the cross-border payments over a unified ledger initiative.
Ripple Partner SBI Reveals Participation in BIS-Led Project Agora
In a press release on September 19, SBI Holdings revealed participation by the bank in Project Agora. Ripple’s partner participation the initiative brings XRP in the spotlight as the bank is a key partner for XRP and XRP Ledger adoption.
Project Agora is an initiative jointly led by the Bank for International Settlements (BIS) and central banks to improve the functionality of cross-border transactions through tokenization. The central banks are Banque de France, the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York.
“Through this project, we hope to improve the functionality of the financial system while maintaining the two-tiered structure of central bank money and private bank deposits, and provide new solutions that utilize smart contracts and programmability, thereby providing highly convenient services in cross-border transactions.”
The BIS/SWIFT-led initiative uses digital tokens representing assets, on a unified ledger, with smart contracts. The Institute of International Finance has convened 41 private sector institutions such as JPMorgan, Standard Chartered, Sygnum Bank, Visa, Mastercard, Citi, and HSBC.
XRP News: Token and XRPL In the Spotlight
While the initiative to revolutionize cross-border payments through tokenization doesn’t specifically mention XRP and XRP Ledger, the community believes Ripple’s technology aligns with Agora Project.
Ripple has focused on exploring the possibilities of tokenization on the XRP Ledger. In June, the company partnered with Archax to bring tokenized real-world assets (RWA) onto the XRP Ledger.
Moreover, the unified ledger concept resonates with Ripple’s Interledger Protocol (ILP), which connects banks and blockchains. This suggests a potential role for Ripple’s technology in the framework, if not XRP directly.
XRP community claims Ripple and BIS and several central banks have collaborated earlier for developments including central bank digital currencies (CBDC). Currently, Ripple CEO Brad Garlinghouse said that the company is seeking adoption in traditional finance.
XRP price jumped 2% in the past 24 hours, with the price currently trading at $0.58. The 24-hour low and high are $0.563 and $0.589, respectively. Furthermore, the trading volume has increased by 25% in the last 24 hours, indicating a rise in interest among traders.
Notably, Ripple is also a leader in remittance. If it captures 50% of the global remittance market, which is projected to reach $11.53 trillion in 2024 and $16.59 trillion by 2028, XRP price could even hit $5.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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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