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40,000 Ethereum Withdrawn From Derivativees, Mpeppe Joins Altcoin Surge As ETH Whales Join Pump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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The recent XRP price glitch on live American TV has created ripples in the crypto community. In an episode of “American Sunrise Early Edition” on Real America’s Voice, the value of XRP soared to a staggering $21,355, marking a 961,936% uptick from its actual price at the moment.
Notably, other cryptocurrencies like Bitcoin, Ethereum, Solana, Dogecoin, and Cardano also saw variations in their prices during the live TV program. Though the host, Jake Novak, addressed Bitcoin’s price anomaly, he overlooked the XRP glitch.
XRP Price Glitch on Live American TV: Key Details
During an episode of American Sunrise Early Edition on Real America’s Voice, the show displayed incorrect prices for major cryptocurrencies, including Bitcoin and XRP, with the values being significantly different from their actual market prices. For instance, the XRP price was displayed as $21,355, up by more than 961,936% from its actual market value of $2.1.
Throughout the market outlook segment, the XRP price glitch remained on the screen, fluctuating between $2.22 and $21,355. The community largely responded to the incident, drawing the team’s attention to the error.
This incident follows the increasing anticipations of the Ripple lawsuit settlement, driven by the SEC’s recent progressive stance.
XRP’s Repeated Price Glitch
As highlighted by the community members, it’s not the first time that XRP has experienced a price glitch. Historically, the token has seen dramatic price variations due to system errors.
In June 2024, XRP was shown on TradingView at $9,864, a point much higher than its original value. A glitch on Binance presented XRP at $5,791 due to data feed issues in October. In a similar incident, XRP’s value was incorrectly displayed on CoinMarketCap in November 2023, with the platform showing it at $1,919, a significant deviation from its actual market value.
Host Addresses Bitcoin Price Anomaly, Overlooks XRP
Notably, the technical issue on the American live TV has resulted in incorrect price displays for not just XRP, but several other cryptocurrencies. The episode presented Bitcoin’s price at $43,636, marking a significant drop of around 50% from the original value.
Meanwhile, Ethereum (ETH) rose to $6,000, a 156% surge and Solana (SOL) increased to $2,896, up by 1,983%. Dogecoin (DOGE) skyrocketed to $32, a 15,900% increase from $0.22, and Cardano (ADA) increased to $69, a 10,198% rise from $0.67.
Addressing the issue, the show’s host, Jake Novak, stated that the “graph had gone a little funky.” However, he only addressed the Bitcoin price glitch, overlooking the issues with other cryptocurrency values, including XRP.
How XRP Reacts To the Incident?
As of press time, XRP is valued at $2.10, with a notable decline of 5.5% over the past 24 hours. On a weekly and monthly basis, the token has experienced massive dips of 12.9% and 7.3%, respectively.
Despite the prevailing negative trend, the XRP price is facing a positives sentiment within the community. This is significantly evident in the 14.5% surge in the trading volume, currently at $4.18 billion.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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.
The price Chainlink (LINK) has reversed its earlier growth trends after the broader market nosedived in mid-day trading. The current breakdown has triggered a new worry among investors for a coin that had the prospect of reclaiming its spot among the top 10 largest digital currencies.
The LINK price has fallen to $14.1, down 9.12% in the past 24 hours. This latest selloff has also raised the question of where the LINK floor is triggered.
Bitcoin Price and Bollinger Bands Insight
The Chainlink drawdown is steep and depends on the Bitcoin price selloff triggered by today’s US Core PCE figures. LINK has recorded more selloffs than most altcoins in the top 20 based on a percent decline over 24 hours.
LINK has fared much better on longer timeframes, as the token is still up by 1% in the past 7 days. The token’s Year-to-Date (YTD) growth is 34.76%, making analysts wonder if more selloff is inbound.
The LINK/USDT 4H Chart offers insight into the Chainlink price outlook. The current price is trading at the lower Bollinger Bands, $14.04. The deviation from the upper bands is a sign of intense volatility, which may or may not go well for the token.
Over the past 30 days, the LINK price has not dropped below $13, which is now classified as the next support level to watch.
LINK and Dependence on the General Market
The broader market is divided on what is next for Chainlink. The Oracle service provider remains one of various institutional clients’ most used blockchain protocols.
This means that the adoption of its services depends on the market or external factors.
Besides this, the price action of Bitcoin and other altcoins is also a major determinant of its potential rebound. At the time of writing, the price of BTC has dropped to a new weekly low of $83,872.69, down by 3.77% in 24 hours. With the bearish outlook, Peter Brandt said Bitcoin price crashing to $70,000 is not impossible.
With Chainlink’s dependence on Bitcoin, the altcoin may maintain its current outlook until the top coin prints a new rally.
Major LINK Price Catalyst to Watch
Per an earlier CoinGape report, Chainlink inked a deal with the Abu Dhabi Global Market (ADGM). This LINK partnership with ADGM will support the development of compliant frameworks for tokenized assets, expand blockchain adoption, and promote regulatory dialogue within the UAE and globally.
In an earlier LINK price analysis, projections were made that this partnership may push the token’s price to a high of $44. For now, the protocol’s price action signals caution overall.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
The Ethereum price has been in a sharp decline in the past months, underperforming compared to Bitcoin (BTC) and Solana (SOL). Despite its unwillingness to experience a significant price increase, a crypto analyst has revealed his bullishness for ETH, predicting a potential recovery to $4,000 before the end of the bull cycle.
Ethereum Price Projected To Reach $4,000
Crypto analyst Astronomer has announced his bullishness on the Ethereum price outlook, predicting a potential rally to $4,000. In a rather lengthy post on X (formerly Twitter), the analyst highlights several technical signals that suggest ETH could soon revisit this key price target.
Notably, the ETH price is positioned at a clear support zone between the $1,700 and $1,900 range. Historically, this range has acted as a launch pad for recoveries, with previous declines to this area triggering a strong price surge.
While Ethereum has underperformed against Solana during this bull market, it has still doubled since its 2022 low, which is a better outcome than most altcoins. Further highlighting his bullish stance on ETH, Astronomer revealed that he had swapped BTC for ETH, holding a strong conviction that the latter will eventually outperform the former by the end of the cycle.
Based on the analyst’s chart, ETH is currently trading within a long-term macro price range between $1,700 and $4,500. The cryptocurrency recently retested the bottom of this range, which historically led to a bounce back toward a price high above $4,000.
Astronomer also notes that Bitcoin has already set its weekly low, meaning that Ethereum’s price movements could soon align with the pioneer cryptocurrency’s recovery. If ETH can reclaim the $2,100 level, the analyst predicts a rapid move toward $4,000 in a few months.
With the next Federal Reserve monetary policy scheduled for mid-April, the market may see renewed bullish momentum that could benefit Ethereum’s price trajectory. Another major development that supports the analyst’s bullish projection for Ethereum is its performance in March 2024. At the time, the altcoin swept a previous price high but didn’t sustain a breakout, leading to a prolonged correction.
However, Astronomer suggested that this price trend insists on revisiting $4,000, particularly after Ethereum hits a range low. The analyst notes that ETH is now at this critical low, which could indicate that the bottom is in, signaling a potential move to new highs.
ETH Market Sentiment Hits Rock Bottom
While sharing his bullish forecast for ETH’s price during this bull cycle, Astronomer also revealed that Ethereum is facing a heavy bearish sentiment due to its prolonged underperformance. According to the analyst, Ethereum’s current market sentiment is worse than Bitcoin’s, with negative narratives dominating discussions across the crypto community.
Some claim that ETH lacks a proper use case, while others suggest that the Ethereum Foundation may be selling. Despite this, Historical data shows that when ETH hit similar low levels in late 2017 and 2021, the cryptocurrency experienced a subsequent rally to new ATHs. The latest sentiment score shows Ethereum has hit rock bottom at 14, signaling extreme fear and uncertainty, which often precedes major price rebounds.
Featured image from Adobe Stock, chart from Tradingview.com
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