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Savvy ETH Whale Turns $20,000 Into $200,000 With Starknet and Mpeppe Two Of The Hottest Coins Right Now
In the fast-paced world of cryptocurrency, the right timing and investments can lead to massive profits, especially for savvy investors who know where to place their bets. One Ethereum (ETH) whale has managed to turn a modest $20,000 investment into a staggering $200,000 by smartly diversifying into two of the hottest cryptocurrencies of the moment: Starknet (STRK) and Mpeppe (MPEPE). As both coins experience significant price movements, investors are taking a closer look at how these tokens are redefining the market.
Starknet’s Struggles Amid Market Gains
Despite broad market surges, Starknet (STRK) recently experienced a sharp 3% decline. As Bitcoin and other altcoins surged in value, Starknet (STRK) failed to capitalize on the bullish momentum. According to data, STRK saw its price dip to $0.4137, sparking concerns among investors. This decline has largely been attributed to large-scale transactions linked to the Three Arrows Capital (3AC) liquidation process, which saw 2.07 million STRK tokens transferred for an over-the-counter (OTC) sale on September 9.
Three Arrows Capital, which filed for bankruptcy following the Luna crash of 2022, continues to sell off assets to pay down its massive debts. As more Starknet (STRK) tokens are offloaded, many fear that STRK could experience further price drops in the coming days. However, some investors remain optimistic, viewing this dip as a potential buying opportunity.
Why Starknet (STRK) Fell
The liquidation process of Three Arrows Capital has cast a long shadow over Starknet (STRK). On-chain data revealed that the insolvent company’s liquidation address transferred 2.07 million STRK tokens (valued at approximately $856,000) to Wintermute for sale. The transfer of such a significant amount of tokens for an OTC sale has caused many to speculate that further downward pressure could be placed on the coin in the near term.
As the Three Arrows Capital liquidation unfolds, more crypto assets—including Starknet (STRK)—are expected to be sold off. This has led to increased selling pressure on the token, pushing its price down as a result. Crypto enthusiasts are keeping a close eye on whether Starknet (STRK) can recover once these liquidations are completed.
Ethereum (ETH) Whale Takes Advantage of Market Shifts
While Starknet (STRK) faced challenges, some Ethereum (ETH) whales saw this as an opportunity to capitalize on the downturn. One savvy ETH whale invested heavily in both Starknet (STRK) and the up-and-coming Mpeppe (MPEPE), turning a $20,000 initial investment into a 10x return. Mpeppe (MPEPE), a casino-themed cryptocurrency, has quickly become a fan favorite due to its strong community backing and the potential for significant short-term gains.
This Ethereum (ETH) whale’s strategy reflects a broader trend among investors who are looking for projects with high upside potential. While Ethereum (ETH) remains a dominant player in the crypto space, many of its investors are seeking new opportunities with smaller, faster-growing tokens like Starknet (STRK) and Mpeppe (MPEPE).
Mpeppe (MPEPE): The Newcomer with High Potential
Mpeppe (MPEPE) is making waves in the crypto community with its innovative approach to decentralized gambling. With a current price of $0.0021, Mpeppe (MPEPE) has attracted a loyal following of both retail and institutional investors, including ETH whales. The coin’s unique combination of meme culture and decentralized finance (DeFi) features makes it a prime candidate for explosive growth.
Mpeppe (MPEPE)’s presale has already gained significant momentum, and investors are eagerly awaiting its full launch. With projections of 150% gains in the short term, Mpeppe (MPEPE) is positioning itself as one of the top investment opportunities for those looking to capitalize on new, fast-growing projects.
Why Ethereum (ETH) Investors are Flocking to Mpeppe
Ethereum (ETH) investors, in particular, have shown a keen interest in Mpeppe (MPEPE). As ETH whales search for opportunities to diversify their portfolios, Mpeppe (MPEPE) offers the potential for outsized returns compared to more established assets like Ethereum (ETH). The relatively low price point and promising market dynamics make Mpeppe (MPEPE) an attractive investment, especially for those looking to maximize their profits in a short period.
Additionally, the decentralized gambling space is a growing market, and Mpeppe (MPEPE) is well-positioned to take advantage of this trend. With more investors piling in, the demand for Mpeppe (MPEPE) is likely to increase, driving its price higher.
Conclusion: The Future of Starknet and Mpeppe
While Starknet (STRK) continues to face challenges due to the Three Arrows Capital liquidation, many investors see this as a temporary setback. If the token can stabilize and recover from the current price dip, it could offer a strong upside for those willing to take the risk. On the other hand, Mpeppe (MPEPE) is emerging as a powerful contender in the cryptocurrency market, with significant growth potential.
For Ethereum (ETH) whales and other savvy investors, the combination of Starknet (STRK) and Mpeppe (MPEPE) presents a unique opportunity to diversify and capitalize on both long-term and short-term gains. As the crypto market continues to evolve, these two tokens could prove to be some of the most profitable investments of 2024.
For more information on the Mpeppe (MPEPE) (MPEPE) Presale:
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VTHO price has skyrocketed 300% after Binance announced its support for VeThor Token. Simultaneously, the token’s trading volume also surged by an astonishing 86,000%, reaching $3 billion. This massive rally reflects the strong influence of the top crypto exchanges in the market and how the listing or any other positive developments impact the sentiments.
Notably, VTHO token is used as gas within the VeChainThor ecosystem, further driving the market’s enthusiasm.
VTHO Price Surge After Binance Announces Listing of Perpetual Contract
On January 22, Binance listing announcement showed that the exchange plans to list VTHOUSDT perpetual contract on its futures platform, offering a maximum leverage of 75x. This new trading option has caught the attention of traders, contributing to a massive spike in VTHO’s trading volume.
Meanwhile, VTHO is the secondary token in the VeChainThor ecosystem, primarily used as the gas for transactions within the network. This listing expands Binance’s support for the VeChainThor blockchain, enabling users to trade VTHO with increased leverage. The contract’s capped funding rate is set at +2.00% / -2.00%, with funding fees settled every four hours, giving traders more flexibility.
Notably, the 75x leverage allows traders to maximize their exposure to VTHO price movements, further intensifying the market’s focus on the VeThor Token. The move by the top crypto exchange to offer such high leverage and favorable funding rates is a clear indication of its confidence in VTHO’s potential.
Binance’s Multi-Assets Mode and Trading Rules
Binance’s Multi-Assets Mode allows users to trade the VeThor token perpetual contract across multiple margin assets. This feature enables traders to use other cryptocurrencies, such as BTC, as collateral when trading VTHO contracts.
Multi-Assets Mode supports greater flexibility, giving users the ability to diversify their margin options for more efficient trading strategies. Recently, Binance expanded support for TRUMP and several other tokens, fueling optimism about future price movements.
The rules for Multi-Assets Mode include applicable haircuts on collateral, ensuring the safety of user assets. It is particularly useful for those who hold large amounts of various cryptocurrencies and wish to leverage them for high-leverage trading opportunities.
VeChain and VTHO Price Surge
VeChain (VET), the blockchain powering VTHO, has experienced notable growth, rising by 11% in the past 24 hours. VET price now trades at $0.05, and its market cap has reached $4.06 billion. This rise is attributed to VeChain’s increasing adoption and its partnerships with major corporations, including Walmart China and BMW.
VTHO price today jumped 320% and exchanged hands at $0.0087, indicating a growing interest in the VeChainThor ecosystem. With a market cap of $744 million, VTHO has seen an 86,000% increase in trading volume, reaching $3.11 billion. As the blockchain industry continues to innovate, VeChain’s supply chain solutions and VTHO’s integral role are poised for continued success.
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.
In what comes as a bullish market event, the Shiba Inu burn rate skyrocketed 600% on Wednesday, sparking immense optimism among traders amid a broader sector recovery. Recent burn data indicated that over 3 million tokens were taken out of the meme coin’s circulating supply. As an upshot, crypto enthusiasts expect a massive SHIB breakout ahead, driven by supply reduction and the community’s recent advancements.
Shiba Inu Burn Rate Blows Over 600% Echoing Bullish Market Sentiments
According to the latest data by Shibburn, the Shiba Inu burn rate shot up nearly 613% on January 22, dealing a massive blow to the circulating supply. Per the data, the massive burn rate surge came against the backdrop of 3.24 million tokens sent to a null address, thus permanently removing them from the supply.
For context, the SHIB burn mechanism is designed to reduce the crypto’s market supply, which many believe to be the reason behind the dog-themed meme coin’s broader sluggish performance. Thereby, with the abovementioned burn rate surge weighing in, traders and investors anticipate price gains for the crypto asset in light of the law of supply and demand.
Community Developments Add To Market Optimism
Further, a stockpile of ecosystem developments in recent days appears to have additionally bolstered the market sentiment for Shiba Inu amid its burn rate surge. CoinGape reported that SHIB lead developer Shytoshi Kusama stated a “big week” lies ahead for the meme token. This statement has sparked market-wide speculations of a looming advancement for the coin’s community.
Moreover, with American billionaire and investor Mark Cuban lauding SHIB’s potential recently, market watchers are extensively eyeing the crypto with bullish long-term views. Particularly in light of the community’s long-term goals and support, Cuban finds the meme coin to be one of the few promising projects in the sector. Overall, the Shiba Inu burn rate surge and these developments have solidified investors’ sentiments of a looming breakout, further driven by the recent pro-crypto Donald Trump frenzy.
What’s Next For SHIB?
At the time of reporting, SHIB price witnessed a 4% uptick in value, reaching $0.00002054. The coin’s 24-hour low and high were $0.00001983 and $0.00002127, respectively.
Notably, the coin rises alongside the intraday Shiba Inu burn rate surge and positive market sentiments building against the backdrop of Trump’s win and meme coin sector recovery. After a waning action yesterday, DOGE, PEPE, and TRUMP, among other meme coins, witnessed a remarkable upswing.
In light of this recovery-like trend, crypto enthusiast ‘VipRoseTr’ revealed on X that a $0.00004029 price target is ahead for the asset. Also, a recent Shiba Inu price analysis by CoinGape further cements the chances of a breakout approaching, as the coin showcases the potential to gain 100x this year.
This bullish prediction comes riding the back of strong market technicals and price patterns, flagging that a potential run to $0.00003340, followed by the March 4 high of $0.0000455, is possible. However, the $0.00001565 support remains extensively eyed by market watchers, given the crypto realm’s dynamic nature.
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.
Donald Trump’s DeFi project World Liberty Financial is on a Tron buying spree after loading up on Ethereum earlier this week. In the last few hours, the project spent a total of $2.65 million USDT stablecoin to load up its TRX holdings. As a result, the TRX price is seeing a strong 5.76% surge amid fresh buying interest for the altcoin.
World Liberty Financial Accumulates Tron (TRX)
World Liberty Financial, the Donald Trump-owned DeFi project, has been aggressively expanding its crypto holdings with fresh Tron purchases. Data from Arkham Intelligence shows that the project has recently spent 2.65M USDT to acquire 10.81M TRX.
Following the current acquisition, the DeFi project holds a total of 30.11M $TRX, valued at $7.38M. The latest purchase by the DeFi project comes following massive Ethereum purchases earlier this week.
Additionally, on-chain data shows that World Liberty swapped 5,252 ETH, worth 17.43M, for stETH, and later staked it with Lido Finance. Over the past three days, the fund has invested a total of $168.4M in six tokens.
This includes $99.95M in Ethereum, $47M of WBTC, $7.35M in Tron (TRX), and another $4.7M each in AAVE, ENA, and LINK. Interestingly, World Liberty Financial has increased its positions in every token except ONDO, reported Spot on Chain.
Justin Sun Celebrates the Development
Tron founder Justin Sun celebrated this development while making big investment promises moving ahead. In his message on the X platform, Sun noted:
“Bought again! TRON has now become the 3rd largest asset held by World Liberty Financial, the president’s crypto project, with a current holding of $7.3 million TRX”.
Furthermore, Sun made big investment promises while commenting on Eric Trump’s post. Earlier today, Eric Trump noted that there’s no better time to invest in the United States and invest across sectors like technology, innovation, and crypto. Responding to this Sun said:
“Fully agreed! We have an outstanding plan that will bring over $200 billion worth of business to the United States. This will be massive and meaningful!”
Tron founder Justin Sun is himself one of the early investors in World Liberty Financial. Earlier this week, he expanded his investments into the DeFi project by acquiring WLFI tokens and taking total investments to $75 million.
TRX Price to Rally 100% From Here?
As of press time, the Tron price is trading 5.7% up at $0.251. As per the Coinglass data, the Tron futures open interest is up 14% to $258 million hinting bullish sentiment among traders.
The TRX price has been trading within a broad descending channel for the past several weeks, following a sharp rally to $0.45 in December. This price action has resulted in several swing highs and lows, indicating a battle between buyers and sellers.
On the RSI, there is a hint of a potential bullish divergence. A falling wedge pattern is emerging, suggesting a possible upside breakout. Additionally, Fibonacci retracement levels point to a potential move toward $0.30 at the 0.50 RSI level and $0.33 at the 0.382 RSI level. In his recent analysis, crypto analyst AMCrypto stated that the TRX price could reach as high as $0.50 by the end of Q1.
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.
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