Day: April 2, 2024

Solana Whales Are Making Moves

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The price of Solana had briefly crossed $200 before tumbling back down in the last week. This move has triggered a wave of movement across the market, and whales are now showing their hands. Over the last day, there have been a number of notable whale transactions and their destinations could give an inkling as to how these large crypto investors are looking at the market right now. Solana Whales Move Hundreds Of Millions Worth Of SOL The whale movements began on Monday when the market had first begun to…

Ethena’s Token Set to Debut on Exchanges Today Amid Airdrop Announcement

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Ethena has initiated the claim process for its governance token (ENA) airdrop, allocating 750 million tokens, equivalent to 5% of its total supply of 15 billion, to eligible participants. The project has announced that the token will commence trading on various centralized exchanges, starting at 4:00 a.m. EST. This airdrop follows the “shard campaign,” a reward initiative aimed at early adopters, allowing user engagement through referral links and rewarding them with shards (or points). The number of tokens allocated to each user is determined by the total shards accumulated by…

MakerDAO Initiates Massive $600 Million DAI Investment In USDe And sUSDe

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Decentralized Finance (DeFi) protocol MakerDAO is considering allocating 600 million DAI stablecoins to the USDe and staked USDe (sUSDe) protocols through the DeFi lending platform Morpho Labs. The proposed allocation aims to improve risk management and maximize user incentives in the DeFi landscape. MakerDAO Sets Maximum 600 Million DAI Allocation The Spark DAI Vault, launched in 2023 as a lending platform, experienced strong demand soon after its launch, according to MakerDAO’s announcement on the protocol’s governance forum.  Given the desire to keep liquidity risk at an acceptable level, MakerDAO proposes…

The Tax Implications of Sudden Crypto Wealth

Meme coin seasons are known for frenzied market activity, driven by the meteoric rise of viral crypto projects that transform modest investments into fortunes overnight. The world knows dogecoin (DOGE) is the original meme coin, but a gang of newcomers has stormed the 2024 meme season. There’s a puppy wif a hat {{WIF}}, a smirking frog (PEPE), a clumsy sloth {{SLERF}} and more. Source

Analyst Warns Bearish Future If Ethereum Dips Below This Level

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Ethereum (ETH) showed a notable performance throughout March. The second largest cryptocurrency hit $4,000 twice and seemed ready for lift-off to a new all-time high (ATH) while the whole crypto market soared. Quarter one (Q1) 2024 closed with important achievements for the crypto community. However, as Q2 started, Bitcoin began a correction that dragged Ethereum and the rest of the crypto market. Are Ethereum Bulls In Problems? The king of altcoins has registered red numbers for the past two days. ETH’s momentum recovery after the market slowdown was halted after…

Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree

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The Dogecoin (DOGE) price looks at risk of further declines as on-chain data show that the meme coin’s largest holders are securing profits. This follows DOGE’s recent price surge, which saw the crypto token rise to a new three-year high of $0.22.  Dogecoin Witnesses Wave Of Profit-Taking Data from the market intelligence platform Santiment shows a drop in the number of Dogecoin holders holding between 10 million and 100 million DOGE tokens. This suggests that some holders have offloaded their tokens to secure profits from DOGE’s recent price gains.  This…