Altcoin
Chiliz (CHZ) Price Shoots 13% After Binance Airdrop Support
CHZ, the native cryptocurrency of the sports blockchain platform Chiliz, is witnessing a strong surge following crypto exchange Binance announcing support for the airdrop of the PEPPER crypto token with some exciting rewards to Chiliz holders. As a result, the Chiliz price has shot up by 13% moving all the way to $0.07227 with its market cap surging past $650 million.
Chiliz Price Eyes Strong Gains Amid Binance Airdrop Development
On Thursday, October 10, the initial snapshot of the PEPPER airdrop will take place followed by three more snapshots later in the month. In order to participate and qualify to receive PEPPER tokens, users should hold a minimum of 100 CHZ in their wallets, including the funding, spot, and margin wallets.
As a result of this development, the Chiliz price has shot up significantly as investors seek to get more PEPPER coins following today’s airdrop snapshot. As part of the arrangement, Chiliz token holders will receive 1,000 PEPPER tokens for every 150 CHZ held by them. The airdrop snapshots will happen in the period between October 10 and October 31, 2024. Here are some of the best crypto airdrops for the year 2024.
Eligible CHZ balances in certain account types will qualify, but borrowed tokens are excluded. PEPPER token distribution will take place in a single batch following the snapshots. Despite the airdrop, trading services such as Spot and Futures will remain unaffected. The listing of PEPPER on Binance will go through the usual review process, so participation does not ensure listing approval.
Pepper will soon become the first meme coin on the Chiliz Blockchain. While its purpose and utility are currently unclear, the coin has been developed by the community with the intention of “taking the reins and riding.”
CHZ Breaks Past Key Resistance
As per the Coinglass derivatives data, the open interest for CHZ has surged by 58.45% to $69.39 million. Similarly, the 24-hour liquidation has surged past $1.22 million with $621,000 in just short liquidations.
Back in August this year, the Chiliz (CHZ) token rebounded from $0.043 reaching all the way past $0.07. Besides, the CHZ price has successfully transformed the resistance of $0.0715, into support, by thus making a double-top chart pattern.
Additionally, CHZ has moved above the 50-day and 100-day Exponential Moving Averages, signaling that bullish momentum is building. As a result, Chiliz is ready for further gains, with the next key level to monitor being $0.084, which marks its lowest swing on April 13.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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 whales took the broader crypto market by storm on Thursday, moving millions of coins amid rising speculations of a cross-appeal by Ripple against the U.S. SEC. Recent on-chain data pointed out that nearly 73 million coins shuffled in the past 24 hours, sparking discussions among market participants.
XRP Whales Transfer 73M Coins, Ripple To File Cross-Appeal Ahead?
As per data provided by the blockchain tracker Whale Alert on October 10, 73.16 million coins was recorded to be transferred by XRP whales over the past day. The renowned address ending ..Rzn dumped 21.16 million coins, worth $11.05 million, to the exchange Bitso. Subsequently, a staggering 52 million XRP, worth $27.37 million, was bagged from the top crypto exchange Bybit by the address 0xf7788124.
This massive accumulation, in light of rising speculations of a cross-appeal by Ripple, has sparked investor curiosity globally. MetaLawMan’s recent X post rationalizes why XRP sales to institutions were non-investment contracts. The attorney draws parallels between ‘wholesalers,’ pointing out that the token’s sales to institutions at prices lower than retail exchanges are validated as these are not ‘investments’ related to the American blockchain payments company. He further claims that the institutions just bought the crypto at a discounted price whilst there are other choices in the market that offer direct investment opportunities in the firm.
These statements have echoed a global frenzy, hinting that chances of the American blockchain payments company’s cross-appeal filing are up substantially. Further, it’s also worth noting that the odds of XRP ETF have gained weight recently, adding to investor enthusiasm for the asset alongside the massive XRP whale accumulation. CoinGape Media reported that Canary Capital filed for an XRP ETF with the SEC recently despite regulatory hurdles.
Coin’s Price Faces Turbulence
Meanwhile, the blockchain payments firm’s native coin encountered significant volatility in tandem with the broader market trend today. XRP price traded at $0.5266, down nearly 1% in the past 24 hours. The coin’s intraday low and high were $0.5219 and $0.5333, respectively.
Notably, the crypto encounters volatility following the SEC’s recent filing of a notice of appeal, which targets Judge Analisa Torres’s ruling ordering the American payments firm to pay the regulator $125 million in fines. Further, the appeal also gauges in on the ruling on securities sales to institutions.
Nevertheless, as Ripple readies for a cross-appeal, market watchers await a shift in market sentiment for the native coin. Besides, Coinglass data indicated that XRP futures OI slipped 0.07% to $685.29 million today. Further, even the derivatives volume plunged nearly 8% to $704.12 million. This data added to investor concerns despite the massive XRP whale accumulation and recent lawsuit developments. Crypto market enthusiasts continue to monitor the crypto for further price action shifts.
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.
The Chinese government has reportedly moved a total of 7,000 Ethereum coins worth $16.7 million seized from the multi-billion dollar Ponzi scheme PlusToken. This has already put some pressure on the Ethereum price sending it under $2,400 levels with another 2% in the past few hours.
Chinese Government to Sell 542,000 ETH?
The latest development has sparked speculations that the Chinese government would be ultimately selling the rest of the 542,000 ETH, worth over $1.3 billion, seized from the PlusToken Scam. This could send the Ethereum price spiraling downwards under $2,000.
Analyst at OXT Research ErgoBTC reported that the Chinese wallets linked to the scam have been moving funds in recent times after staying dormant for nearly three years since 2021. PlusToken was a Chinese multi-billion dollar crypto scam that defrauded a massive 2.6 million users back in 2018 and 2019. Back then, the local Chinese police had confiscated $14 billion worth of BTC, ETH, and other altcoins.
Between 2019 and March 2020, a significant portion of Bitcoin (BTC) holdings, totaling approximately $1.3 billion. Back then, Bitcoin’s market cap was only $160 billion, and thus this elloff was sizeable.
However, the Ethereum’s holdings remained untouched until the summer of 2021, when the wallets transferred a third of 840,000 ETH to unpopular crypto exchange Bidesk, and sold them later. The remaining ETH stayed dormant across multiple ‘mixing’ addresses until early August 2024, when 542,000 ETH, valued at approximately $1.3 billion, was consolidated into 294 new addresses, reported the ErgoBTC analyst. The anlyst further added:
“Given the recent effort to re-obfuscate the ETH it is unlikely that the active distribution of the 15.7k ETH moved yesterday is the last of the 540k ETH supply distribution”.
Ethereum Price Faces Selling Pressure?
Earlier this year in July, following the Bitcoin selloff by the German government, the BTC price faces significantly selling pressure. Despite the selloff value was much smaller to the over BTC market cap, the even significantly dampened the market sentiment.
If the Chinese government pulls off such selloff with 542,000 ETH, the Ethereum price can face strong selling pressure under $2,000. Currently the ETH price is already trading 2% down slipping under $2,400 levels.
Earlier this week crypto analyst Ali Martinez stated that ETH has been trading in a close symmetrical pattern. Thus, any drop under $2,300 could further lead to a major crash to $1,800 levels.
#Ethereum is trading inside a symmetrical triangle! A sustained close outside of the $2,300 – $2,600 range will determine the direction of $ETH trend. pic.twitter.com/8VBATLZugw
— Ali (@ali_charts) October 8, 2024
Furthermore, the Ethereum whale selling has continued over the past week from dormant holders that dampens the investor sentiment.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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
XRP Price Prediction: Ripple Expects More Hurdles from the SEC, Traders Hedge with this $0.03 Altcoin for 3,000% Profits
The SEC filed a notice of appeal on October 2, challenging Judge Analisa Torres’s ruling that XRP is not a security. This appeal saw the XRP price tumble sharply, forcing Ripple traders to migrate to alternative investments.
Amazingly, RCO Finance (RCOF), an upcoming Ethereum altcoin, has become the center of attraction after securing over $2.79 million in funding during its ongoing presale.
Will the XRP price continue slumping, and will RCO Finance (RCOF) persist with its bullish trend? Let’s find out!
XRP Plunges 13% As Ripple’s Battle With SEC Takes New Turn
The XRP price has performed dismally over the past week. On September 30, the XRP price was trading around $0.6223. Following a brief spike, the altcoin dived sharply on October 1 after reflecting the bearish trend in the Bitcoin (BTC) price, which saw the leading crypto revisit the $60,000 level.
This downturn intensified after the SEC filed a notice of appeal on October 2 in its ongoing legal battle with Ripple. Specifically, the SEC challenged Judge Analisa Torres’ August 2023 ruling that XRP is not a security when sold to retail investors on exchanges. This news saw the XRP price trade as low as $0.5101 on October 3.
By October 7, the XRP price had stabilized at around $0.5390. This price means the XRP price has shed 13% in a week. Moreover, the 24-hour Ripple trading volume has surged 76%, indicating investors are flocking to the market to dump XRP. Combined with the challenges from the SEC, this selling force might trigger more losses.
RCOF: A Superb Presale Opportunity
As the SEC presents Ripple Labs with new challenges, XRP investors seek alternative investments to hedge against losses. Amazingly, RCOF has grabbed investor attention because of its utility as a base currency and governance token within the RCO Finance platform.
Also, RCOF has emerged as a top pick among Ripple investors because it is a safe investment. SolidProof, a top-tier blockchain security firm, verified that RCOF is safe to invest in by auditing the altcoin’s smart contract.
This step helped boost investor confidence in this altcoin, explaining why it has secured $2.79 million in funding.
As of October 7, RCOF was offering investors an opportunity to join its presale at $0.0344 during Stage 2. Investors who purchase RCOF at $0.0344 will enjoy tremendous returns when the altcoin attains its launch price of $0.4-$0.6.
Also, experts expect RCOF to surge 3,000% by Q4 2024, outshining XRP’s 1,580% climb in Q4 2017.
This forecast explains why Ripple investors are embracing this budding altcoin as the XRP price continues tumbling.
RCO Finance Intrigues Investors With RWA Tokenization Abilities
Ripple investors are actively looking for to-of-the-line platforms to diversify their portfolios as the XRP price continues showcasing a weak outlook.
This explains why RCO Finance, an up-and-coming DeFi platform that aims to simplify investing by democratizing access to professional investment management tools, has quickly gained popularity.
RCO Finance has also caught investors’ attention with its AI-powered robo advisor. Investors are fascinated by the robo advisor because it uses machine learning and algorithms to offer custom investment recommendations based on personal risk profiles and financial goals.
Investors can implement these recommendations into their investment plans to scale their profits while minimizing risk exposure. Amazingly, the robo advisor can trade automatically on behalf of investors. This automation enables the robo advisor to adjust investors’ portfolios in real-time, shielding against altcoin market crashes.
Taking things a step further, the robo advisor provides investors with free tax and financial legal advice, helping them stay compliant as the robo advisor diversifies their portfolios with the over 120,000 crypto and TradFi assets RCO Finance supports.
Besides its robo advisor, RCO Finance has attracted investors because of its revolutionary real-world (RWA) tokenization capabilities. RWA tokenization allows RCO Finance users to bolster their portfolios with illiquid assets like real estate, commodities, and art.
RCO Finance has also gained ground quickly because its non-KYC onboarding process significantly lowers the entry barriers. This approach also allows investors who prefer withholding personal details to maintain anonymity.
These benefits explain why you should join Ripple investors in embracing RCO Finance to improve your chances of making lucrative trades.
For more information about the RCO Finance Presale:
Join The RCO Finance Community
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