Altcoin
Whales Moving Millions On Massive Activity In Derivatives Market
XRP News: XRP, one of the largest cryptocurrencies by market cap, has birthed considerable investor speculations today, July 24. As nearly 77 million coins were transferred by whales against the backdrop of a looming SEC closed-door meeting, market sentiments have taken an intriguing turn. Meanwhile, the XRP derivatives market saw a frenzy, underscoring the presence of bullish market dynamics for the asset. Here’s a brief overview of the current market statistics that have raised eyebrows worldwide.
XRP News: Whales Transfer 77M Coins
According to the data revealed by the transaction tracker Whale Alert, 77.57 million XRP was shifted by whales over the past day. These transactions consisted of whale accumulation and dumps in hand.
Notably, 23.28 million XRP, worth $13.90 million, was accumulated from Binance, a leading CEX. The whale address rarG6FaeYh was recorded making this accumulation. Simultaneously, the renowned whale address ‘..Rzn’ shifted 54.29 million coins, worth $32.30 million, to the CEXs Bitstamp and Bitso via two transactions. Altogether, the whale activity has sparked uncertain market sentiments on the asset’s future performance.
However, it’s worth noting that a tidal wave of optimism persists with the potential imminent settlement of the Ripple vs SEC lawsuit. The American regulatory body is all set to attend a closed-door meeting tomorrow, July 25, which is rumored to consist of talks on Ripple. The meeting’s result is much-awaited by the global crypto community, and could stage as a potential optimistic XRP news.
Also Read: AVAX And MATIC Under Pressure After This Key Move By Binance
Derivatives Data Highlights Increased Investor Interest
Meanwhile, the XRP price traded at $0.62, up 2.57% at press time. Its 24-hour lows and highs were evaluated as $0.5843 and $0.6297, respectively.
XRP Futures OI chart by Coinglass illustrated that the open interest rose considerably to $796.75 million today, underscoring increased investor interest in the asset. Simultaneously, the derivatives volume followed, rising to $2.21 billion. Also, the hourly and 4-hour time frame charts showed a 2.55% and 7.21% increase in the OI, respectively. This data, collectively, added a layer of optimism to the Ripple-backed coin, driven by investor enthusiasm.
Also, another recent XRP news that sent the market abuzz included XRPScan’s revelation of data, hinting that Elon Musk did not own any of the Ripple-backed crypto.
Also Read: Elon Musk Joins Pro-Bitcoin RFK Jr. To Slam Kamala Harris
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
Terra Luna Classic Burn Hits 400 Billion As Binance Burns Over 700 Million LUNC
The world’s largest crypto exchange Binance burns more than 700 million Terra Luna Classic tokens in the 30th batch of its LUNC Burn Mechanism. With this, the total LUNC tokens burned by the community has reached over 400 billion milestone. Also, the circulating supply has dropped to 5.5 trillion LUNC.
Meanwhile, LUNC price has dropped 6% amid the broader crypto market selloff due to a trade war triggered by US President Donald Trump.
Binance Burns 736 Million Terra Luna Classic LUNC Tokens
Crypto exchange Binance sent more than 736 million LUNC tokens to the burn address, as per the burn transaction on February 1. This was one of the lowest burn by the exchange since it started LUNC burn mechanism to support the Terra Luna Classic community.
In the 30th batch of the LUNC burn mechanism, the crypto exchange burned $87,923 in trading fees for the period between December 31 to January 30. This brings the total LUNC burned by the exchange to 70.85 billion LUNC tokens, as per the burn tracker.
Notably, Binance burned 1.7 billion LUNC tokens in the previous month after a massive trading volume in response to bankruptcy and token burns by Terraform Labs.
Terra Luna Classic Burn Landmark by the Community
The chain is managed by the Terra Luna Classic community with help from validators and developers via governance voting. The burn campaign has hit another landmark as the total LUNC burned by the community has surpassed 400 billion.
The community members are upbeat on the Terra Classic revival narrative. Multiple projects and Cosmos developers have come in support and performed tasks, with Binance founder Changpeng “CZ” Zhao promising the community to support in LUNC burn campaign.
LUNC and USTC Price Performance
LUNC price tumbled 6% in the last 24 hours, with the price currently trading at $0.00007068. The 24-hour low and high are $0.00007017 and $0.00007641, respectively.
However, the Terra Luna Classic trading volume has increased by 25% in the past 24 hours, indicating a rise in interest among traders. Analysts are still confident about a rally to $0.0005.
Meanwhile, USTC price also fell 8% to $0.013 in the last 24 hours. The trading volume has increased by 33% in the last 24 hours.
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
TRUMP Price Crashes 13% Despite Donald Trump’s Pump Attempt, What’s Next?
Solana-based Official Trump meme coin has come under strong selling pressure hours after Donald Trump posted about it on his social media platform Truth Social. The TRUMP price is down by 13% in the last 24 hours taking a dive under $20. On the weekly chart, the meme coin has lost more than 33% while it is down 70% from its all-time high of $75.
TRUMP Price Crashes Under $20
With the onslaught of the bears, the TRUMP price is down more than 13% to below $20. Also, the daily trading volume has surged by 65% to more than $3.4 billion as traders move to dump it.
Furthermore, the derivatives data from Coinglass shows that the TRUMP open interest has also slipped by more than 13% to $720 million while the 24-hour liquidations have soared to more than $15 million with $11 million in long liquidations.
Buy the Dip Opportunity for TRUMP Investors?
After hitting the daily low of $18.75, the TRUMP price bounced back and is currently trading at $21.09. Several market analysts believe that this is a buy-the-dip opportunity for crypto investors. Captain Faibik, a prominent market analyst, has weighed on it.
“Buying the $TRUMP dip! The falling wedge is still in play, expecting a strong bounce back,” Captain Faibik on X stated, pointing to the technical pattern suggesting a possible bullish reversal.
The falling wedge, often seen as a precursor to price breakouts, has fueled speculation that TRUMP could stage a significant comeback. Another market analyst Edward Morra stated that the TRUMP price bounced back from the perfect support at $20. He further added that he would be going long on the altcoin from here. “Went a bit deeper than I expected. Loaded up on TRUMP (average $21.5). Ideally, looking for a bullish reclaim above $25 for continuation,” he said.
Donald Trump’s Attempt to Pump
With the TRUMP price crashing nearly 70% from its all-time high, President Donald Trump took to social media to promote his meme coin. “I LOVE $TRUMP!!” President Trump wrote in a Truth Social post asking users to get back and buy the meme coin.
However, crypto industry players have criticized this move with SkyBridge Capital founder Anthony Scaramucci slamming the President. In a message on the X platform, Scaramucci wrote:
“President Trump posted on Truth Social last night in an attempt to “pump” his $TRUMP memecoin (yes that’s a real sentence that many have normalized). The result has been an acceleration of the “dump,” now down 70% from its peak. The jig is up”.
The Official Trump token has slipped to the fourth spot losing in this latest fall, losing the third spot to PEPE Coin. The broader crypto market is down today as Trump tariffs kick in which could lead to another major crash ahead.
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
Why Is Crypto Market Down Today, Will Trade War Trigger Major Crash Ahead?
The global crypto market tumbled again in the last 24 hours while investors didn’t even recover from DeepSeek AI and Bank of Japan’s rate hike-led market crash last Monday. Bitcoin and Ethereum prices are now down 6% and 8% in a week, respectively.
The macro factors wreaked havoc on the stocks and crypto markets again as Donald Trump decided to immediately sign the order to impose tariffs on Canada, Mexico, and China. As a result, the global crypto market cap tumbled more than 3% from $3.49 trillion to $3.35 trillion. It means more than $140 billion erased from the crypto market in just under 24 hours.
Moreover, the Crypto Fear & Greed Index has dropped from Greed to Neutral at 47 today, indicating negative sentiment continues to build among investors.
Bitcoin Price and Crypto Market Downfall Due to Trump Tariffs
US President Donald Trump declared a national emergency citing fentanyl and immigrants under the 1977 International Emergency Economic Powers Act (IEEPA). This gave President Trump power to sign an executive order imposing 25% tariffs on Mexico and Canada, as well as 10% tariffs on imports from China.
As a result, Bitcoin and altcoins fell on concerns of a trade war risking higher prices for U.S. consumers. US PCE inflation data on Friday indicated that inflation has increased for three consecutive months. Notably, US stock indexes ended the week lower.
Besides, economists say blanket tariffs with multiple top trading partners are bad for the US, inflation, and lead to higher prices and layoffs. The decision has triggered a trade war as Canada, Mexico, and China retaliate.
Prime Minister Justin Trudeau said Saturday that Canada will impose 25% tariffs against C$155 billion of US goods.
This comes after the US announced it will put 25% tariffs on Canada and Mexico, as well as a 10% tariff on China https://t.co/DW7GA4W8Ka pic.twitter.com/RwIPrJdCl7
— Bloomberg (@business) February 2, 2025
Crypto Market Sees $700 Million in Liquidations
Coinglass data indicates over $700 million in crypto liquidations, with over 250K traders liquidated in the last 24 hours. The largest single liquidation order of ETHUSDT valued at $11.84 million happened on Binance.
It is important to note that the largest liquidation happened during the crypto market crash last Monday. An investor liquidated BTCUSDT valued at $98.46 million on crypto exchange HTX.
Nearly $520 million long and $80 million short positions were liquidated, with BTC, ETH, SOL, DOGE, XRP, TRUMP and RUNE leading the liquidations. In the last 12 hours, $350 million in longs were liquidated causing the crypto market to bleed.
Experts Predict Crypto Market Correction
Crypto trader Skew predicts “short-term mayhem” in the crypto market as uncertainty around how far tariff bluffing will go. He used the term “bluffing” because these tariffs are unlikely to be the final standing percent due to retaliatory tariffs by Canada and other countries.
According to The Telegraph, hedge funds are betting big that the stock market to suffer a devastating crash due to tariffs by US President Donald Trump. Moreover, data from Goldman Sachs is sending shockwaves through financial circles, revealing a dramatic surge in ‘short’ positions against US stocks.
With the crypto market in the crosshairs due to Bitcoin ETFs and institutional interest, Bitcon price fell to a 24-hour low of $99,022. Whereas, ETH price tumbled more than 5% to a low of $3,069. Also, top altcoins XRP, SOL, DOGE, ADA, LINK and others have plunged more than 5% in the last 24 hours.
60% of American plebes don’t have $1k of emergency funds. The Fed is “worried” about inflation. So Trump decides to hike energy prices via tariffs? He ain’t a fool, maybe he is trying to trigger a mini financial crisis? It’s def in the maybe column. pic.twitter.com/VEiI9qZZqC
— Arthur Hayes (@CryptoHayes) February 2, 2025
Meanwhile, the US dollar index (DXY) has jumped to 108.50 indicating a strengthening dollar. Also, the 10-year Treasury yield is spiking above 4.54%. Notably, BTC price usually moves in opposite to DXY and US Treasury yields.
A major selloff may happen only if Bitcoin price tanks below the $95K level. Traders are even staying away due to double-top pattern formation in the daily timeframe.
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.
-
Ethereum22 hours ago
Ethereum Price To $2,000 Or $6,000? Analyst Examines Ether’s Future Trajectory
-
Ethereum15 hours ago
Ethereum Crosses $3,400 As Trump’s World Financial Liberty Buys More ETH
-
Ethereum13 hours ago
Ethereum 2.4-Year Average Holding Time Signals Confidence From Long-Term Holders – Details
-
Altcoin13 hours ago
TRUMP Price Crashes 13% Despite Donald Trump’s Pump Attempt, What’s Next?
-
Altcoin16 hours ago
Altcoins ETF Filings, US FOMC, & Elon Musk’s DOGE Push
-
Bitcoin15 hours ago
Bitcoin Has No Place in EU Central Bank Reserves, Says ECB Chief
-
Altcoin14 hours ago
Why Is Crypto Market Down Today, Will Trade War Trigger Major Crash Ahead?
-
Bitcoin7 hours ago
Bitcoin Slips to $98,000 Amid Market Sell-Off and Declining Activity
✓ Share: