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40,000 Ethereum Withdrawn From Derivativees, Mpeppe Joins Altcoin Surge As ETH Whales Join Pump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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Solana (SOL) price has been under pressure recently, leading to concerns about a potential downtrend against Bitcoin (BTC). On the SOL/BTC price chart are signs that the cryptocurrency could be forming a “death cross,” a pattern that suggests a further decline in price.
This follows a period of weak performance for Solana relative to Bitcoin, sparking discussions on whether the altcoin can recover or continue to underperform.
Will Solana Form a Death Cross Against Bitcoin?
Over the past few months, Solana price has experienced a sharp decline when compared to Bitcoin. As of mid-April 2025, Solana is priced at 0.00158 BTC, down by 23% from earlier in the month. This comes after a significant 54% drop since January, showing a steady loss in value relative to Bitcoin.
The recent drop in Solana’s price has raised concerns among traders and analysts. Moving averages, which track price trends over time, have been narrowing, which is often a precursor to a potential death cross formation.
Specifically, the 23-day moving average is approaching the 200-day moving average in the weekly chart, a key level for technical analysts. If it crosses below the 200-day average, it would officially signal a death cross. This could indicate a further decline in Solana’s price against Bitcoin.
Solana’s Recent Performance and Market Trend
Nonetheless, Solana has had some strength, which can be attributed to the recent launch of Solana ETFs in Canada.
At the same time, institutional investors’ attention contributed to the altcoin’s success in surpassing the performance of numerous other cryptocurrencies, including Bitcoin. Solana delivered a 10.5% return within a week, while Bitcoin delivered a 1.8% return in the same time frame.
Nonetheless, the recent excitement about Solana appears to have subsided with the lessened market movements. Analysts like Ali Charts are now analysing whether the recent strength was just a blip in the charts or the first sign of an actual trend reversal to $65.
SOL/BTC Technical Patterns and Support Levels
Based on the current technical perspective, Solana’s price trend against Bitcoin has established the “Falling wedge” chart. This pattern is normally noticed during the consolidation phase, and the break above the upper trend line is usually interpreted as a signal for a bullish move.
The declining moving averages indicate that Solana may continue to decline against Bitcoin and possibly test lower supports despite the SOL/ETH ratio recording its highest weekly close
At present, the price is almost at the apex of the wedge pattern, meaning that it can break soon. If the price surmounts the resistance level at around 0.0018BTC, it will possibly lead to a bullish run and might even regain the value of 0.001895BTC for Sol. However, if the price cannot hold its support at 0.0014 BTC, then it may decrease even lower.
Solana’s performance against Bitcoin will be very significant over the next few weeks. The potential death cross and the support and resistance levels on the chart pinpoint that Solana might experience a difficult time moving forward. If the trend persists, the altcoin could potentially drop as low as 0.001 BTC—a price point that, when measured in dollar terms, is below $100.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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.
American asset management company Canary Capital has taken a new leap with a new filing for a staked Tron ETF product. Known as the pioneer of some of the most renowned altcoin ETF products, this new Tron ETF has further placed the firm at the forefront of the exchange-traded fund drive.
The Canary Capital Staked Tron ETF
According to the prospectus released by the firm, the new product is dubbed the Canary Staked TRX ETF. The firm is yet to reveal the trading platform the product will trade on, however, it confirms it will provide exposure to the price of Tron.
Based on the pricing data offered by Coindesk Indices, Canary Capital said it will rely on this to establish the Net Asset Value (NAV) for the product. This latest filing comes barely a month after the asset manager filed for Pengu ETF with the US Securities and Exchange Commission (SEC).
This is a breaking news, please check back for updates!!!
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.
Based on historical data, July could be the next bullish month for the XRP price, which continues to consolidate amid this crypto market downtrend. Despite the market downturn, crypto analysts like CasiTrades are confident that the altcoin could still reach a new all-time high (ATH) in this market cycle.
Historical Data Points To July Being The Next Bullish Month For The XRP Price
Cryptorank data shows that July could be the next bullish month for the XRP price. This is based on the fact that the altcoin has recorded significant gains in each of the last five Julys.
Unlike July, April to June have been mixed for XRP over the last five years. For April, the last three out of five months have been bearish for the altcoin, although it recorded a 174% gain in April 2021.
For May, three out of the last five months have been bearish for the XRP price, although it recorded meagre gains in May 2023 and 2024. Meanwhile, June has been completely bearish for the altcoin, as it recorded monthly losses in the last five months.
It is worth mentioning that four out of the five monthly gains for XRP in July have been double-digit gains. As such, Ripple’s native crypto could again record double-digit gains this coming July.
Interestingly, crypto analyst Egrag Crypto predicted that XRP could reach double digits by its July 21 cycle peak. He alluded to the altcoin’s previous bull runs as to why July could mark this cycle’s peak. The analyst believes the Ripple price could reach $27 by then.
Analysts Argue XRP’s Consolidation Could End Soon
Amid this historical data, crypto analysts Dark Defender and CasiTrades have suggested that the XRP price consolidation could end soon. In an X post, Dark Defender stated that the altcoin’s consolidation is nearing an end and that he believes this is the final consolidation of the monthly structure.
Once this consolidation is done, the crypto analyst remarked that market participants can expect the Wave 5, which will send Ripple’s native crypto to new highs. He highlighted $2.22 and $2.30 as the major resistances to watch out for, while $1.88 and $1.63 are the major support levels. Meanwhile, the targets on this Wave 5 up are $3.75 and $5.85, which will mark a new ATH for the altcoin.
As CoinGape reported, crypto analyst CasiTrades also predicted that the XRP price could soon reach $6 as Wave 2 correction nears its end. The analyst also raised the possibility of the altcoin rallying to as high as $9.50 and $12 if it reaches the 2.618 and 3.618 Fibonacci extension levels, respectively.
However, there is still the possibility of the XRP price dropping below the $2 level before it rallies to new highs. Egrag Crypto warned that Ripple’s native crypto could still drop to as low as $1.4 in the event of a major liquidation.
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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