Altcoin
Wintermute Moves $12M ARB To Binance, ARB Price Rally Ahead?
In a strategic maneuver, Wintermute has transferred $12 million worth of ARB tokens to Binance, sparking anticipation of a potential price rally. This significant move by the prominent market maker has caught the attention of investors and analysts, who are now closely monitoring the market for signs of upward momentum in ARB’s valuation. With such a substantial transaction making waves in the crypto community, the stage is set for possible shifts in the token’s market dynamics.
Wintermute’s Detailed Transaction Breakdown
The Data Nerd monitoring shows that three wallet addresses belonging to Wintermute deposited 12.3 million ARBs (approximately $12 million) into Binance five hours ago. These tokens were withdrawn from Coinbase two days ago.
The transactions involved three separate wallets, each carrying different transaction volumes: 4.680 Million ARB tokens were moved from the first address, 4.125 Million tokens from the second address, and 3.463 Million ARB tokens from the last address. The coordinated movement of these large amounts suggests a deliberate strategy by Wintermute, possibly to influence ARB’s liquidity and market presence on Binance.
Also Read: Fed’s Rate Cut Decision Looms as Bitcoin (BTC) Price Aims for $89,200
Current Market Metrics and Recent Developments
The price of Arbitrum (ARB) stands at $0.9628 today, with a 24-hour trading volume of $225,544,186.80. This represents a -0.72% price decline in the last 24 hours and a -14.28% price decline in the past 7 days. With a circulating supply of 2.9 billion ARB, Arbitrum’s market cap is valued at $2,792,370,669. Additionally, ARB open interest has had a slight downturn of 2.89%, with a current valuation of $164.4 million.
Notably, earlier this past week, a partnership between Wintermute and $BENJI was announced. A post on X (formerly Twitter) stated, “We are proud to announce that $BENJI has officially partnered with @wintermute_t, widely recognized as the world’s leading crypto-native trading firm. They will be providing liquidity for our exchange listings.” This partnership underscores Wintermute’s expanding influence and strategic engagements within the crypto ecosystem.
Also Read: Crypto Prices Today June 10: BTC & Altcoins Regain Momentum, NOT & OM Top Gainers
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.
While Ethereum price continues to falter, a steeper drop for the largest altcoin lurks around the corner. According to Bit Bull, the ETH decline will see it sink to lows of $1,600 in the near future.
Ethereum Price Hurtles Toward $1,600
Cryptocurrency analyst Bit Bull has shared a prediction on X for Ethereum price movement in the near-term. According to Bit Bull, Ethereum looks set to continue its decline and can fall as low as $1,600.
Bit Bull hinges his prediction on Ethereum breaking down from a symmetrical triangle after prices fell below $1,820. The decline below the triangle pattern signals a bearish sentiment, continuing the previous decline. ETH price remains stuck below $2,000 since the drop below the psychological level was driven by a raft of unsavory fundaments and technicals.
The latest is the Ethereum price dropping beneath the triangle pattern, triggering new short entries on the asset. A breakdown and a retest followed by low trading volumes confirm fears of a steeper ETH correction.
“However, after the breakdown and a retest, ETH is now looking bearish,” said Bit Bull. “Technically, there’s a strong possibility for further downside.”
Apart from the symmetrical triangle, a further confirmation of bearish sentiments is seen in ETH dominance. According to his analysis, Bit Bull notes the ETH dominance chart has formed a descending triangle to signal further bearishness.
“A retest toward the upper trendline is likely, but after that, we could see another move down,” added Bit Bull.
On-chain Metrics Confirm Bearish Sentiments For ETH
While technicals are largely pessimistic, on-chain data are telling a similar story for Ethereum price. Right out of the bat, active addresses on Ethereum have taken a major hit in recent months, exacerbating the issue of falling prices.
There is also a decline in Ethereum fees burnt while fees burnt per transaction face a similar slump. Perhaps the biggest indicator for long-term bearishness is an increase in ETH supply after the Merge event.
Despite the negative sentiments, ETH to $4,000 is still in play given the show of as strong support at $1,800. Standard Chartered analyst opines that Ethereum will finish the year at $4,000 after slashing its earlier prediction of $10,000 by 60%.
Ethereum price currently exchanges hands at $1,803, falling by less than 1% over the last day. Weekly charts indicate a similar ETH decline of around 1%, confirming a strong consolidation base for the bruised and battered altcoin. Ethereum’s trading volume stands at nearly $7 billion with whales creating a chunk of market activity for the asset.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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’s interest has surged in the last 24 hours, providing a bullish outlook for the altcoin. Based on this, Ripple’s native crypto is eyeing a rebound, with crypto analyst Ali Martinez predicting that the XRP price could rebound to as high as $2.60 if it holds the $2 support.
XRP’s Open Interest Surges Above $3 Billion
CoinGlass data shows that XRP’s open interest has surged in the last 24 hours, rising to as high as $3.61 billion, indicating huge interest in the altcoin at the moment. This provides a bullish outlook for the altcoin, seeing as traders are heavily betting on it.
Crypto analyst Ali Martinez also suggested that Ripple’s native crypto could rebound soon. In an X post, he stated that if XRP can stay above the key $2 level, a 30% move toward the channel’s upper boundary at $2.60 could be next.
Crypto analyst CasiTrades’s prediction also showed that the altcoin could surge to $2.70 if it breaks above $2.24. This could eventually pave the way for Ripple’s native crypto to rally to a new all-time high (ATH).
However, there is still the possibility that the altcoin could also drop to new lows. A CoinGape market analysis revealed that Ripple’s price is at a crossroads, as a wedge pattern signals a 70% crash or 700% surge.
Crypto analyst Rex also predicted that XRP could soon witness a bullish reversal. He stated that a breakout is coming and that this is the most obvious play of the cycle. His accompanying chart showed that XRP could rally to as high as $2.9.
Two Paths For Ripple’s Native Crypto
Crypto analyst Egrag Crypto stated that the XRP price could drop to $0.65 or rally to $17. This is based on an Ascending Broadening Wedge, which is currently forming for the altcoin. The analyst remarked that XRP first needs to close above $3.50 for a solid start.
He claimed that if the altcoin hits the $5 range but doesn’t close above it convincingly, this formation has a higher chance of playing out. Egrag Crypto asserted that XRP must retest $1.90 after being rejected from the $5 range.
Once that happens, the altcoin will need another attempt to close above $5, ideally hitting $6 and closing above that level. The analyst affirmed that XRP will likely blast to double digits within two to three weeks if that happens.
The target move for this Ascending Broadening Wedge is a potential $17.50. This aligns with another prediction in which he stated that the XRP price could rally to double digits by the July 21 cycle peak.
However, Egrag Crypto warned that there is still a 70% chance that XRP breaks to the downside and only a 30% chance for an upside breakout. If the altcoin breaks down, the analyst claims the measured move would take Ripple’s native crypto back to $0.65.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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.
Cardano price is nearing a key technical milestone that may signal a shift in its price momentum. The cryptocurrency, currently priced at $0.6484, has shown a 2.45% decrease in the last 24 hours. However, technical indicators suggest that ADA price is heading towards its first “death cross” of 2025.
Cardano Technical Indicators Point to Bearish Momentum
Cardano’s recent price action suggests that the 50-day simple moving average (SMA) is likely to cross below the 200-day SMA in the coming days. This crossover, known as the death cross, is typically seen as a bearish signal. As per our recent Cardano price analysis, should the death cross occur, ADA could dip 25%.
At the time of writing, the 50-day SMA stands at $0.74, while the 200-day SMA is at $0.734. As the 50-day SMA continues to decline, it indicates that the short-term momentum of Cardano is underperforming compared to its long-term trend. A death cross often leads to a further decline in price, although the extent of the drop can vary.
Despite the approaching death cross, it is important to note that such technical indicators are not always reliable predictors of future price action. While historical patterns may provide insight into market sentiment, they do not guarantee that prices will follow the same trajectory. This means that ADA price could experience a reversal even after the death cross forms, depending on other market factors.
Recent Price Trends and Market Conditions
ADA price has seen a notable decrease in Cardano price over the past week, with a 7.67% drop. After peaking at $1.19 in early March 2025, the coin has struggled to maintain its momentum, particularly as broader market concerns weigh on investor sentiment.
On top of this, Cardano’s trading volume has been decreasing. The daily trade volume has dropped by 58.72%, with just under $394 million traded in the last 24 hours. A decrease in trading volume typically suggests that market participants are losing interest or that there is waning demand for ADA.
Despite these challenges, there have been some positive developments surrounding Cardano. Charles Hoskinson, the co-founder of Cardano, recently confirmed that Ripple’s RLUSD stablecoin would be launching on the Cardano network. This news was met with some optimism, sparking interest in ADA. Additionally, Hoskinson teased the possibility of Cardano playing a role in Bitcoin’s decentralized finance (DeFi) ecosystem. These announcements could potentially help Cardano regain momentum, but for now, the technical indicators suggest a cautious outlook.
What Could Happen Next for ADA Price?
As Cardano approaches the death cross, the primary question is whether the price will continue its downward trend or if there will be a reversal. The chart shows a pattern of consolidation, with ADA price action fluctuating within certain support and resistance zones.
According to crypto analyst Seth fin, strong support is seen around the $0.6000–$0.6500 range, while resistance lies near the $0.7000–$0.7500 levels. If ADA fails to break through the resistance, the price could continue its decline towards these support zones.
One potential scenario is that price could experience a bounce if the Cardano price holds at these support levels, particularly the $0.6000 zone. This would signal that the market is still interested in buying ADA at lower prices. On the other hand, if the price fails to hold these support zones and breaks below them, further downside may follow, potentially leading to a retest of lower support zones in the $0.3000–$0.4000 range.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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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