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New Ethereum Accumulation Addresses Surge as Bulls Eye $4,000 Price

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Ethereum has recorded a significant jump in key bullish metrics like accumulation addresses as bulls ignite a market uphill movement. The number of accumulation addresses is an important factor in monitoring market sentiment defined as wallets that have recorded withdrawals or transfers of assets. The metric often consisted of cold and hot wallets.

Accumulation Wallets Points Bullish 

New market data from on-chain analysis firm CryptoQuant shows a systemic rise in Ethereum hodlers. According to the data, the amount of addresses has soared above 3,700 wallets. Mirroring this data along the lenses of wallets with 10 – 10k ETH and 10k to 100k ETH, both show significant upticks pointing to a jump in sentiments. 

Addresses with 10- 10K ETH hold 246,700 assets while wallets with 10k- 100k ETH hold 373,700 coins on May 26. On-chain data shows a huge leap to these numbers sparked by industry and macro factors. To put it into perspective, on May 1, the former group of wallets held 22.5K ETH while the latter controlled 29.9K ETH. This shows a massive jump to present figures. 

Similarly, Ethereum whales have also recorded bullish activity in the market as transaction value worth over $100,000 hit its all-time high this year. Data from IntoTheBlock points to an accumulation from larger holders with strengthened movement amid traditional finance investors. 

Ethereum’s trading volumes are soaring with bulls signaling a price run in the market setting the firm for other altcoins.

Spot Ethereum ETFs Boost Accumulation 

The approval of spot Bitcoin ETFs on Jan 11 led to a rise in investor accumulation taking the price to an all-time high above $73,000. This widespread success led to investors turning to a spot Ethereum ETF. The week leading up to approvals saw huge accumulation as the price surged above $3,700. 

At press time, Ethereum exchanges hands at $3,942, a 2% increase in the last 24 hours and a 25% weekly rally. In another development, an Ethereum whale transferred 42,192 ETH to an unknown wallet today. 

Also Read: FLOKI Price Jumps 23% As Social Sentiment Soar, Will FLOKI Retest ATH?

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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

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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UXLINK Reveals Eligibility Criteria For Major Reward

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Today, UXLINK has disclosed the eligibility criteria for its much-anticipated airdrop rewards. This announcement, made on the social media platform X, outlines the detailed process and metrics for the upcoming Season 1 UXLINK crypto airdrop. Moreover, UXLINK aims to ensure transparency and fairness in the distribution of its tokens. Hence, it looks forward to rewarding active and genuine contributors while maintaining a strong and secure ecosystem.

What Is UXLINK About?

UXLINK is an innovative social platform in the Web3 space, designed to promote widespread use by integrating social and decentralized apps (DApps) features. It works differently from conventional social media that focus on one-way, follower-based interactions. Thus, UXLINK emphasizes mutual snd friend-like connections. This design allows for immediate engagement via its UXGroup feature, establishing UXLINK as a leading user-centric platform.

According to UXLINK whitepaper, the platform’s primary goals are defined by three main components:

1. Social Hub: UXLINK aims to become the largest social network and infrastructure, focusing on genuine, two-way connections.

2. Access To All: Furthermore, the platform connects Web3 and Web2, enabling users and developers to discover, share, and trade crypto assets within a social, group-oriented environment.

3. Community Growth: in addition, UXLINK is dedicated to building an inclusive, trustworthy, and rewarding socio-economic community.

Tokenomics & Allocation

UXLINK has a capped token supply of 1,000,000,000 tokens, allocated strategically to maximize community involvement and project sustainability. The allocation is as follows:

1. Community: The platform has allocated 65% of the total supply to the community, which includes users who own UXLINK utility tokens and contributors to UXLINK projects and ecosystems. Moreover, within this allocation, users account for approximately 40%, while builders and partners make up 25%.

2. Private Sale: Meanwhile, 21.25%, allocated to partners of the project.

3. Team: 8.75%, reserved for co-founders and contracted employees.

4. Treasure: The platform reserves 5% UXLINK tokens for liquidity and project management.

Moreover, this structure allows for flexibility and adaptation as new partners join the project. UXLINK has committed to maintaining transparency in any changes to the allocation.

Also Read: Just-In: Gala Games And Animoca Brands Partners For GALA Token Boost

UXLINK Airdrop Eligibility Criteria

UXLINK’s airdrop eligibility criteria aim to reward genuine contributions and ensure a fair distribution of tokens. The criteria include:

1. UXLINK Social Contribution Scoring: Metrics include the completeness of a user’s profile, their interaction activity with UXLINK, and the activity within their social relationship chain.

2. Third-Party Sybil Identification: Professional third-party services like Trusta Labs will identify sybil accounts using AI-ML clustering algorithms.

3. Third-Party Wallet Authentication: Participation through third-party wallets requires address authentication by these wallets.

4. Third-Party Partner Whitelist Authentication: Addresses involved in partner airdrop campaigns must be authenticated by the partners’ whitelist.

However, various factors may influence a user’s eligibility and quality score, such as:

  • Certification of addresses as suspected sybil accounts by third parties.
  • Use of unauthenticated third-party wallet connections.
  • Low-value social networks within UXLINK.
  • Participation in uncertified third-party campaigns.

Meanwhile, eligible users can also receive 100% airdrop rewards if they meet the following conditions:

  • Purchase of NFT via Ethereum (ETH) on official websites.
  • High UXLINK social contribution score.
  • Recognition by professional third-party anti-sybil services.
  • Certified third-party wallet addresses.
  • Certification by partner whitelists.

Treatment for Temporarily Unqualified Users

Users with temporarily unqualified quality scores can still receive a portion of the airdrop under specific conditions:

1. Self-Reporting: If users self-report within three days, they can receive 15% of the token airdrop, with the remaining 85% redistributed to qualified contributors.

2. Complaint and Proof Submission: Users can submit complaints and proofs within six months for review. If approved, they will receive 100% of the tokens; otherwise, the tokens will be redistributed.

3. Failure to Act: However, Users who neither self-report nor appeal will forfeit their airdrop. Moreover, UXLINK will redistribute their tokens to qualified contributors.

Also Read: Shiba Inu Coin Set For Reversal As Burn Rate Hits 8500%

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Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

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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Shiba Inu Coin Set For Reversal As Burn Rate Hits 8500%

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In a dramatic turn of events, the Shiba Inu (SHIB) coin burn rate has surged by over 8500% on Wednesday, July 3. However, the Shiba Inu coin is currently grappling with a downtrend as it plunged from over $0.000022 to lower than $0.000017. Nonetheless, the latest SHIB burn spike sparks optimism around a SHIB price reversal.

Shiba Inu Coin Burn Rate Skyrockets

Today, the Shiba Inu burn rate rocketed by an astounding 8596.57%, according to Shibburn data. This leading to the destruction of 17.71 million SHIB tokens. Moreover, this significant increase in the burn rate has captured the attention of the crypto community, particularly due to the involvement of two notable wallets.

The highest burn was initiated by the wallet 0x608…, known for its consistent participation in the Shiba Inu burn initiative. This wallet alone burned a staggering 7.77 million SHIB tokens. Another wallet, 0xa2d…, contributed to the effort by transferring 4.17 million SHIB tokens to a dead wallet, effectively removing them from circulation.

Furthermore, other communities participants initiated smaller SHIB tokens burns. The purpose of burning Shiba Inu coins is to reduce the overall supply, theoretically increasing the scarcity and potentially boosting the token’s value. With such a significant amount of SHIB removed from the market in a single day, speculation is growing about a positive impact on the SHIB price.

Historically, burn events have had a mixed impact on the price of SHIB. While reducing supply can lead to price appreciation, the actual effect depends on various factors, including market sentiment, overall demand, and broader crypto market conditions. In the short term, the news of such a high burn rate may drive some positive sentiment and buying activity among SHIB investors, potentially leading to a price increase.

Also Read: Crypto Market Selloff: Why Bitcoin, ETH, DOGE, SHIB Prices Are Falling Today?

Is SHIB Price Reversal Ahead?

However, long-term price sustainability will depend on continued community support and broader adoption of SHIB. Additionally, the overall performance of the crypto market will play a crucial role. These sentiments are influenced by macroeconomic factors and regulatory developments.

The price of SHIB has recently found temporary support around $0.00001688. If this support level holds, Shiba Inu could rebound and reach $0.00002129, which would be a 28% increase from its current position. However, if the price falls, it may find support lower at $0.000012. It’s also important to note that $0.00002129 serves as a temporary resistance level.

SHIB Price Today, Source: CoinMarketCap

As of writing, the Shiba Inu price was down by 1.17% to $0.00001695 on Wednesday, July 3. Whilst, the popular dog-faced meme coin held a market cap of $9.99 billion. On the flip side, the 24-hour trade volume for Shiba Inu coin surged 4.18% to $182.27 million.

Currently, the SHIB price is trading lower than the 50-day and 200-day EMAs, suggesting a bearish trend in both short and long term. However, the SHIB Relative Strength Index (RSI) value stands at 32, signalling that the meme crypto could soon enter the oversold territory. Historically, such situations have boost the cryptocurrency prices, including Bitcoin (BTC).

Also Read: What’s Going On With Meme Coins To Buy WIF, BONK In July?

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Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

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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Shiba Inu Exec Highlights BONE Perpetual Listing In Canada, Will Price Rally?

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Shiba Inu’s marketing lead Lucie has recently posted on X, revealing a key update for the BONE ShibaSwap token. Dated July 3, the post revealed that one of the leading Canadian exchanges, SuperEX, started BONE perpetual trading.

This mover has echoed optimism for the Shiba Inu ecosystem token throughout the crypto universe. Let’s dig into why

BONE Perpetual Trading Starts

Notably, Shiba Inu’s Lucie reiterated another post from the SuperEX crypto exchange, spotlighting the BONE perpetual listing. According to the original post by the exchange, the BONE/USDT perpetual pair started trading today, July 4, at 03:00 UTC. The underlying asset is BONE ShibaSwap, aka Shibarium’s gas fee token or ShibaSwap’s governance token.

Meanwhile, the leverage offered on the asset is 1-10x in an effort to maximize user appeal. However, the exchange revealed that it might adjust the parameters from time to time, aiming to mitigate market risks.

Nonetheless, the announcement has gained significant traction across the crypto realm as BONE remains poised to witness a substantial influx, given the colossal Canadian crypto landscape. Also, it’s worth noting that the SuperEX crypto exchange’s X handle boasted nearly 350K followers, further underscoring its massive user base.

Notably, previous perpetual listings for numerous tokens, including Coinbase’s perp listing of SHIB, FLOKI, and BONK, have promptly ignited upside price trajectories. Although historical data does not guarantee future performances, broader sentiments remain optimistic.

Even Pepe coin, another hot trend in the crypto town, rallied remarkably with its perpetual listing. BONE, however, awaits such an upside momentum.

Also Read: Spot Ethereum ETFs to Go Live on July 15, ETH Bull Run Ahead?

BONE & SHIB Market Performance

Despite the commencement of perpetual trading, the BONE price has seen a 1.93% dip in value to $0.4822. Its 24-hour bottoms and tops were $0.4788 and $0.4952, respectively.

This price drop aligns with a broader trend, as the Shiba Inu ecosystem’s SHIB token’s price also noted a 0.89% fall to $0.00001695. Doge Killer LEASH, another SHIB ecosystem token, dipped 2.07% to $334.91, coinciding with this trend.

Crypto market enthusiasts continue to eye the token as the perp listing could bring about a significant shift in price. However, current market sentiments appear to be bearish as the RSI rested around 36, signaling downside pressure on the asset. Further downside momentum could also pave the way for a potential price rebound as the asset makes its way into an oversold territory.

Also Read: Crypto Prices Today July 3: Bitcoin Weakens To $60K, Altcoins Mainly Follow While FLOKI Soars

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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.

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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