Connect with us

Altcoin

Futures OI Tops $2.50B As Ripple Whales Buy Over 250M Coins

Published

on


XRP News: Ripple whales have purchased millions of XRP in the last few weeks triggering a massive 200% rally this month. XRP price saw a 10% correction last weekend, but on-chain data revealed that whales have bought more than 250 million during the dip. Is a rally to $20 ahead as XRP futures open interest surpassed $2.50 billion?

Whales Accumulation Triggers Bullish News for XRP

Ripple whales purchased more than 250 million XRP over the weekend, according to on-chain data platform Santiment. It follows as whales moved to buy the dip after a recent selloff of XRP during the weekend.

ImageImage

Popular trader Ali Martinez signaled that the Ripple whales are bullish on a further rally in XRP price. The significant transactions indicate confidence in XRP or strategic accumulation. Traders must watch for potential market moves and legal resolutions of crypto lawsuits.

Whale Alert reported multiple XRP tokens transactions, including a transaction of 149,000,000 tokens worth $227 million transferred from crypto exchange Bybit to a wallet. Also, a whale accumulated 20 million XRP from South Korean exchange Upbit.

In addition, on-chain data reported 58,333,326 XRP valued at $87 million transferred from Binance to a whale wallet.

As CoinGape reported earlier, whales are accumulating the tokens massively amid bullish sentiment. Donald Trump’s win in US presidential election and US SEC Chair Gary Gensler’s resignation have fueled sentiment for the potential end of the Ripple lawsuit.

Rally Continues As Open Interests Hit Over $2.50 Billion

Ripple’s token saw a correction over the weekend but whales buying the dip came as major news for XRP investors. The recent dip came from South Korean investors. However, analysts have given a target of $2 and a long-term price target of $20 amid various bullish news for XRP.

Total XRP futures open interests have now surpassed $2.50 billion, hitting a new high. The futures OI increased to 1.59 billion XRP worth $2.50 billion amid massive buying seen on Binance and Bybit, as per Coinglass data.

XRP price has jumped 4% in the last few hours, with the price currently trading at $1.51. The 24-hour low and high are $1.31 and $1.54, respectively. Furthermore, the trading volume has increased by 24% in the last 24 hours, indicating a rise in interest among traders.

✓ Share:

Varinder Singh

Varinder has over 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 leading the news team to cover 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.





Source link

Altcoin

PancakeSwap Sets Date for CAKE 3.0 Amid Community Concern

Published

on


PancakeSwap, the largest decentralized exchange (DEX) on BNB Chain, has officially announced the implementation of CAKE Tokenomics 3.0. This marks a major shift toward a more sustainable and deflationary ecosystem.

According to the announcement, PancakeSwap will begin rolling out the new tokenomics model on April 23, 2025. The main goals are to curb CAKE inflation, optimize system efficiency, and deliver long-term value to the community. However, the CAKE 3.0 proposal has sparked considerable debate.

What Are the Key Changes in CAKE Tokenomics 3.0?

PancakeSwap has set three primary goals for Tokenomics 3.0: achieve an annual deflation rate of 4%, eliminate complex mechanisms such as veCAKE, and reduce CAKE emissions to improve sustainability.

Here are the specific changes:

  • Retirement of CAKE Staking, veCAKE, Gauges Voting, Revenue Sharing, and Farm Boosting: PancakeSwap will discontinue CAKE staking and the veCAKE mechanism, which required users to lock tokens in exchange for voting rights or benefits. All locked CAKE and veCAKE will be unlocked.
  • Burn Mechanism to Reduce Circulating Supply: PancakeSwap will burn tokens to reduce supply instead of sharing trading fees with users. The team expects to burn approximately 5.3 million CAKE annually, supporting the deflation target.
  • Phased Reduction in CAKE Emissions: Daily CAKE emissions will be reduced from 29,000 to 20,000, and later to 14,500 tokens.

Users will have six months from April 23, 2025, to withdraw their previously locked CAKE.

The Debate Around CAKE 3.0

Several developers and community members believe CAKE Tokenomics 3.0 will benefit the project in the long term.

“At its core, CAKE Tokenomics 3.0 defends true value and protects CAKE holders by strengthening long-term fundamentals—such as aggressively cutting emissions to accelerate deflation and sustainably grow value,” Chef Philip said.

However, not everyone agrees. Cakepie DAO—one of the largest veCAKE holders—voiced strong concerns on X. They criticized the decision to eliminate veCAKE, calling it non-transparent and potentially damaging to projects built around that model.

This reveals a divide in the community over how PancakeSwap is balancing deflation and stakeholder interests.

“Sunsetting veCAKE would be devastating for Cakepie and for every project built on long-term alignment with PancakeSwap. Our entire ecosystem is structured around veCAKE, with millions of CAKE locked for four years as a clear show of commitment. Removing veCAKE would erase that commitment overnight and undermine the trust and efforts of all builders who believed in PancakeSwap’s vision,” Cakepie stated.

In response, PancakeSwap proposed a $1.5 million compensation package in CAKE tokens. They offered this to CKP (Cakepie’s token) holders if Cakepie agreed to allow a 1:1 swap from mCAKE (Cakepie’s CAKE derivative) to CAKE.

However, Cakepie is currently voting on whether to accept the offer.

PancakeSwap (CAKE) 3-Month Price Chart
PancakeSwap (CAKE) 3-Month Price Chart. Source: BeInCrypto

At the time of reporting, CAKE is trading around $1.97, up 17% since April 8, when PancakeSwap first proposed Tokenomics 3.0.

Additionally, data from DeFiLlama shows that PancakeSwap’s 24-hour trading volume has surpassed $1 billion, overtaking Uniswap.

Meanwhile, a report from BeInCrypto reveals that PancakeSwap controls over 90% of the DEX market share on BNB Chain. This highlights the strong relationship between BNB Chain and PancakeSwap.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Altcoin

Top Solana Price Levels to Watch in the Short Term

Published

on


As the crypto market is experiencing a bullish reversal with its total market cap surging by 3.17% to $2.74 trillion, the Solana price is gearing up for a potential rebound. As traders and investors are looking to capitalize on the token’s volatility, analysts unveil key price levels to watch in short term.

Notably, analysts like Ted predict SOL’s potential uptick to $180 amidst increasing whale activity. In this article, we’ll explore the top Solana price levels to watch in the short term which will help you to stay ahead of the curve and capitalize on market opportunities.

Solana Price To Rebound: Key Price Levels Revealed

As the Solana price hovers below $140, analysts and traders are closely watching market movements. While bears fear of a possible crash to $120, analysts like Ted offers a bullish outlook, predicting SOL’s potential surge to $180 by May 2025.

Presenting historical trends, Ted asserts that the Solana price is poised to reach $160-$180. He notes that Solana’s current patterns mirror those seen in 2022 Q4, suggesting potential similarities in future price movements. In addition, the analyst maintains a bullish outlook for the token, predicting a new all-time high for SOL during the third quarter of this year.

Key Price Levels To Watch

While Solana is poised for a potential rebound, traders are recommended to watch key price levels. Analyst Degen Hardy presents a detailed analysis of SOL’s current market conditions where he is trying to identify a long entry opportunity. As per his conclusions, the ideal scenario will be the Solana price to pull back, which, in turn, will form an inverse head and shoulders pattern.

Significantly, the chart presented by the trader represents key levels to watch. As SOL has surged past the significant support level of $125 and the resistance level of $135, the next target is $178.

Top Solana Price Levels to Watch in the Short TermTop Solana Price Levels to Watch in the Short Term
Source: X, Degen Hardy

As of now, SOL is trading at $139.23, up 2.15%.Over the past week and month, Solana has experienced a surge of 3.25% and 6.6%, respectively. Historical data suggests that Solana price could ultimately reach $256 if it surges past $178. The key levels in between $178 and $256 include $199, $216, and $238.

Moreover, increased whale activity also projects a potential rebound in Solana’s price. Whale Alert revealed that a Binance address moved 374,161 SOL ($52,768,341) to an unknown wallet.

SOL Clears Key Resistance: What’s Next

In his recent X post, TraderAG projected Solana price’s potential target of $170 as it has broken past its key resistance level at $135-$137. Though the analyst expected a retest to the $125 level, SOL broke past the resistance zone, sparking speculations of an uptrend.

According to TraderAG, SOL is capable of reaching $170 and beyond in the near term. CoinGape’s Solana price prediction reveals that SOL is expected to reach a maximum level of $173.44 and a minimum of $140.04 in 2025.

✓ Share:

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.





Source link

Continue Reading

Altcoin

Will Cardano Price Break Out Soon? Triangle Pattern Hints at 27% ADA Surge

Published

on


Cardano price appears to be inching towards a key breakpoint as it continues to consolidate within a symmetrical triangle pattern visible on its price chart. According to cryptocurrency analyst Ali, this formation could help ADA in a major price movement.

Cardano price predicted to surge 27%

In a recent tweet, Ali suggested that Cardano might be in the early stages of breaking out from this consolidation pattern. The symmetrical triangle visible on the price chart shows converging trendlines that have contained ADA’s price movement since early April 2025.

The symmetrical triangle pattern forming on Cardano’s chart is a period of consolidation where buyers and sellers reach a temporary equilibrium. According to technical analysis principles, symmetrical triangles often serve as continuation patterns, with the breakout direction typically following the prior trend.

In Cardano’s case, the breakout yields the potential 27% price movement mentioned by Ali. The analyst has pointed out that Cardano might be in the early stages of breaking out from this pattern. The analysis by Ali comes as Cardano bulls secure the most important signal to drive a price rally.

Cardano is currently trading at $0.6424 with a 4.3% increase over the past 24 hours. Despite this short-term gain, ADA remains down nearly 10% over the past 30 days.

ADA sentiment remains neutral

Current market sentiment surrounding Cardano is mixed despite the potentially bullish technical setup. According to data from CoinCodex, the overall sentiment toward ADA is currently classified as “Neutral.” However, the Fear & Greed Index shows a reading of 39 and places it in the “Fear” category.

Looking ahead, CoinCodex projects that Cardano’s price could rise by 18.55% to reach $0.765833 by May 21, 2025. While this forecast falls short of the full 27% move suggested by the triangle pattern analysis, it aligns with the general direction and timeframe for a potential upside breakout.

The platform’s analysis of Cardano’s recent performance shows that ADA recorded 14 green days out of the last 30, which is a 47% positive day ratio. Price volatility over this period also stood 7.31%.

Despite the current “Fear” reading and mixed sentiment indicators, CoinCodex concludes that it’s now a good time to buy Cardano based on their technical indicators. However, the next move by ADA could very well be based on the overall market conditions too.

✓ Share:

Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

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.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io