Altcoin
Ethereum Whales Bag 100,000 ETH Amid Recent Dip, What’s Next?
Ethereum whales’ recent decision to accumulate heavily amid a recent price dip has reinforced bullish market sentiments surrounding the second-largest cryptocurrency by market cap. On Friday, crypto analyst Ali Martinez revealed that the large investors, also known as whales, bought 100,000 ETH amid the token’s recent price volatility. In the aftermath, market watchers anticipate price gains ahead despite unchanged interest rates this FOMC and looming U.S. PCE inflation data release.
Ethereum Whales On Buying Spree Ignite Optimism
According to an X post by Ali Martinez on January 31, Ethereum whales purchased over 100,000 coins during the recent price dip. The massive purchase reflects a potential ‘buy-the-dip’ sentiment prevailing among large-scale investors. In turn, long-term prospects for the crypto’s price remain bullish in the wake of heightened buying pressure and rising interest in the asset.
Also, it’s worth mentioning that the Trump family project has bought $250 million worth of ETH recently. Ethereum co-founder and ConsenSys founder Joseph Lubin revealed on X that the massive purchase comes as the project looks to set up a DeFi business.
Although these events project bullishness on future price actions, it’s worth mentioning that the coin currently encounters significant volatility amid current broader market trends.
Market Uncertain Amid Latest U.S. Economic Data
The crypto market currently mirrors a muted investor interest right ahead of the PCE inflation data release scheduled for later today. CoinGape reported that Bitcoin and Altcoins faced volatility on Friday, with another macro event impacting investor sentiments.
Notably, the latest U.S. FOMC meeting has decided to keep interest rates unchanged at 4.25% to 4.50%. This data raised concerns over risk assets such as crypto, as investors may want to mitigate losses by investing more in U.S. dollar-backed assets.
Nevertheless, large-scale investors appear to be digesting the latest decision by the Fed whilst hoping the PCE inflation data cools down. This market anticipation is highly reflected by the massive accumulation by Ethereum whales.
What Lies Ahead For ETH Price?
At the time of reporting, ETH price witnessed a nearly 2% increase in value and is currently trading at $3,246. The coin’s 24-hour low and high were $3,182.14 and $3,282.99, respectively. It’s worth mentioning that the most critical resistance level for the coin lies at the $4,000 mark, a key barrier over the years.
However, the massive buying by ETH whales has paved a bullish way surrounding long-term price prospects. Additionally, market expert Michaël van de Poppe posted on X, “ETH vs. BTC can still print a bullish divergence.” This statement indicated that while the price is declining, the broader momentum is improving, indicating that a potential reversal looms.
Also, the analyst added, “I think that the dynamic and pendulum between the DXY (US Dollar Index) and ETH is going to change towards Ethereum rather than the Dollar.” Despite the recent risks presented to crypto in light of macroeconomic events, this statement projects optimism about the crypto’s future price action.
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.
Altcoin
Grayscale Launches Dogecoin Trust, DOGE ETF Next?
Asset manager Grayscale has announced the launch of its Dogecoin Trust, a fund that will provide institutional investors with exposure to the foremost meme coin DOGE. This move has also raised the possibility of the asset manager filing for a DOGE ETF at some point.
Grayscale Launches Dogecoin Trust
In a press release, Grayscale announced the creation and launch of its Grayscale Dogecoin Trust. The asset manager stated that this fund will offer investors the opportunity to gain exposure to DOGE, the native coin of the Dogecoin network.
The firm further remarked that it believes the top meme coin has transitioned from a meme coin of a Shiba Inu to a tool for “global financial inclusion, grassroots activism, and a viable means of payment.” The asset manager added that due to its widespread accessibility, affordability, and rapid transaction speeds, DOGE has gained significant adoption worldwide.
Grayscale mentioned that the Trust is now open for daily subscription by eligible individual and institutional accredited investors. The firm noted that the fund functions like its other single-asset investment trusts and is solely invested in DOGE, the native coin of the Dogecoin network.
Meanwhile, this launch comes just a day after the asset manager filed for a Spot XRP ETF with the New York Stock Exchange (NYSE). The firm plans to convert its XRP Trust to an ETF, which will list and trade on the NYSE.
A Spot ETF Next?
Grayscale’s launch of the Dogecoin Trust has raised the possibility of the asset manager filing for a Spot DOGE ETF at some point. In an X post, Nate Geraci, the President of the ETF Store, also predicted that the firm would file for this DOGE ETF.
He asserted that the “obvious plan” here is to ultimately convert the Trust to an ETF. He added that the launch of the Trust allows the asset manager to test out demand and get a head start on accumulating assets.
Bloomberg analyst Eric Balchunas also agreed with Geraci, stating that the move is an attempt for the asset manager to “cut line,” in terms of trying to get an approval from the SEC for a DOGE ETF.
It is worth mentioning that Grayscale has taken this approach with all the Spot crypto ETFs it currently offers and prospective ones. The asset manager simply convert its Bitcoin and Ethereum Trust to spot ETFs. Meanwhile, the firm is currently looking to convert its XRP, Solana, and Litecoin Trusts to spot ETFs.
In the meantime, REX Shares and Bitwise remain the only asset managers to have filed to offer a Dogecoin ETF with the US SEC. REX Shares submitted its application last week while Bitwise just filed its S-1 for this fund three days ago.
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.
Altcoin
New Bitcoin Meme Launchpad to Turn Altcoins From $500 to $50K
Capitalizing on Pump.fun’s unwavering success, a new Bitcoin meme launchpad dubbed Odin.fun was launched yesterday.
Pump.fun is one of the fastest-growing Web3 protocols, having attracted $100M in revenue in just seven months.
Odin.fun, however, is solely focused on casting a light on Runes tokens, which are pretty much Bitcoin-based meme coins but with technical perks.
Bitcoin diving into the estimated $91B meme coin market is a strategic move. Plus, it shows a hopeful outlook for meme coins – especially ones with utility, like $WEPE and $SOLX.
1. Wall Street Pepe ($WEPE) – Offers Exclusive Trading Insights, Captures $65M on Presale
Wall Street Pepe ($WEPE) has caught the eye of many, already capturing over $65M on presale despite one coin only costing $0.0003665.
Investors are flocking to the presale to grab a slice of $WEPE before it goes live on crypto exchanges, anticipating significant success.
Suggesting it has even brighter days ahead, $WEPE’s success mirrors $PEPU, another frog coin with a cheeky green face, which raised $70M on presale. Following CEX listings, it’s jumped 37% since yesterday.
$PEPU is the backbone of an L2 network that offers double-staking rewards. What sets $WEPE apart, however, is that it gives token holders a leg up in crypto trading by providing them with exclusive industry insights.
Considering that $WEPE has 16 more days until the presale ends, it has the time to surpass $PEPU’s success.
Making the coin all the more appealing to buy, $WEPE holders can earn token rewards by sharing their successful trading experiences, of which 15% of the token’s total supply is set aside.
2. Solaxy ($SOL) – L2 Network Designed to Address Solana’s Painpoints
Solana meme coins have been attracting significant attention, as evidenced by the market cap for Solana tokens hitting $17B.
Donald Trump launching his own Solana meme coin, $TRUMP, is attracting more eyes to the network. Despite going live less than two weeks ago, the coin that celebrates his presidential win already surpasses a $5B+ market cap.
But there’s an issue. During peak times, Solana is no stranger to congestion woes, which causes slow processing times and failed transactions.
Luckily, this is where $SOLX comes in. It’s the gateway into Solaxy, the world’s first Solana Layer-2 (L2) network designed to resolve Solana’s issues by offloading transactions to a side chain.
Solaxy’s utility has never been more important, as reflected in $SOLX having already snagged $16.5M on presale.
Investors are also drawn to buy $SOLX (currently at just $0.00162) because it can be staked at a tremendous 250% APY.
Considering its price is anticipated to rise to $0.032 by the end of this year, now’s a prime time to get involved.
3. LOFI ($LOFI) – Community Meme Coin Focused on Environmental Stability
Up by over 27% since yesterday, $LOFI is making waves in the meme coin arena over its unwavering support of environmental and social causes.
Ultimately, it brings together a strong community that cares about environmental stability through content and collaboration on Sui.
Leveraging the Sui blockchain points to a promising future for $LOFI. The network’s TVL has witnessed significant growth, doubling since October 2024 (from around $5B to $10B).
So does $LOFI’s price, which has risen by a whopping 797%+ since last year, bringing its market cap to a commendable $86M+.
The most popular crypto exchanges for buying $LOFI include MEXC, LBank, and Cetus.
4. Best Wallet ($BEST) – First Ever Crypto Wallet to Feature Presale Tokens
As crypto adoption rises (especially in the US following Trump’s new crypto-friendly regulations), so does interest in reliable digital asset storage solutions.
Best Wallet is a go-to option for crypto fanatics who want to buy, sell, and trade crypto on its user-friendly mobile app.
It’s on a mission to capture 40% of the $11B non-custodial wallet market by supporting presale projects and, soon, 70 major blockchain networks – both of which sets it apart from major competitors, even MetaMask.
$BEST holders are given unrivaled benefits in the crypto wallet, including lower transaction fees, high staking rewards, and community governance.
Better still, it costs just $0.0238 to buy $BEST and reap the benefits.
5. Pups Bitcoin ($PUP) – One of the First Bitcoin Tokens to Transition to Runes
The Bitcoin meme launchpad, Odin.fun, is already attracting notable attention to Runes coins. $PUP has jumped by over 19% since yesterday, when news about its debut broke out.
The trading volume for Runes coins has increased by 63% since yesterday, suggesting a thriving future for such coins.
$PUP was originally a BRC-20 token standard but later transitioned to a Runes standard. Casting a light on it as being one of the first of its kind to experience the switch.
It’s primarily driven and managed by its token holders, designed to spread happy vibes across the crypto sphere and promote world peace through art and community engagement.
One $PUP currently costs around $0.055. As the Bitcoin meme launchpad attracts more attention, it might continue spiking, suggesting now might be a profitable time to buy.
Bitcoin Meme Launchpad Suggests a Profitable Time for Meme Coins
As the Bitcoin meme launchpad continues to capture attention, meme coins are poised for notable growth.
Investors wanting to turn $500 to $500K might find profitable opportunities in meme coins on presale (while their prices are currently low-cap before going live).
Acquiring Runes tokens like $PUP alongside the news of Odin.fun’s launch might also have high-profit potential.
Still, it’s vital to know this isn’t investment advice. You must always DYOR before buying any type of meme coin and never invest more than you’d be sad to lose.
Altcoin
Virtuals Protocol Secures Major Listing, VIRTUAL Coin Shoots Over 20%
VIRTUAL, the native cryptocurrency of Virtuals Protocol, secured a major listing on the Upbit exchange today. The news was enough to trigger a 20% surge in VIRTUAL price along with a 107% pump in the daily trading volume moving to $345 million. As a result, the fully diluted valuation (FDV) of the digital asset has now soared past $2.34 billion.
Upbit Announces Virtuals Protocol (VIRTUAL) Trading Support
South Korea’s popular crypto exchange Upbit has announced its support for the trading of Virtuals Protocol (VIRTUAL) tokens in KRW, BTC, and USDT trading pairs. The development has offered a major liquidity boost to the digital asset while driving VIRTUAL price higher.
Virtuals Protocol deposits will only be supported via the VIRTUAL-Base network. Upbit has warned users to confirm the network before initiating deposits, as transactions on unsupported networks will not be processed and may face prolonged refund procedures. Additionally, Ubit announced that it will only allow transfers from verified VIRTUAL asset operators or personally authenticated wallet addresses.
In order to ensure some market stability and prevent FOMO, Upbit exchange has also introduced some trading restrictions for the first five minutes after trading begins. Furthermore, it facilitated only limit-orders during the first hour.
A Go-To Platform for AI Agents
Virtuals Protocol is a blockchain project that enables co-ownership of AI agents, primarily for gaming and entertainment applications. By tokenizing AI agents, users can co-own these digital entities similar to holding equity in a company.
The platform supports the creation of AI agents, governance participation, and ecosystem engagement through the VIRTUAL token. Use cases include liquidity pairing, AI agent token purchases, payments, and governance activities. As recently reported, the Ethereum-based Virtuals Protocol is also looking for an expansion to the Solana blockchain network.
VIRTUAL Price Skyrockets Following Upbit Listing
Soon after the Upbit announcement, the VIRTUAL price shot up by 20% surging past $2.50 with its market cap surging past $1.5 billion. Also, the daily trading volume has shot up by 107% suggesting strong bullish momentum. The Coinglass data shows that the VIRTUAL futures open interest has surged by 15% to more than $211 million.
Popular crypto analyst Satoshi Flipper noted that VIRTUAL price has broken out of the descending channel pattern. This sets the stage for a further VIRTUAL rally to its previous all-time high of $5.0 and beyond.
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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