Category: Analysis

Wiki Cat (WKC) Soars 293% in 6 Days: Here’s Why It Matters for SNORT

Wiki Cat (WKC) has shocked the market with a 293% move even as crypto extends its losing streak to a sixth day. The token has been around for years, but it only staged its first major breakout this month, vaulting past a $200 million market cap and showing just how unpredictable meme coin runs can be. But its move is exactly the kind of play Snorter Bot Token (SNORT) is designed to spot. Snorter is launching as a Solana-focused Telegram trading bot but will expand to other chains as its…

Kraken, Backed Finance Partner with TRON DAO to Bring xStocks Tokenization to TRC-20 Network

Key Notes TRON becomes the third blockchain to support xStocks after successful launches on Solana and BNB Chain networks. Tokenized equity products have generated over $2.5 billion in trading volume across centralized and decentralized exchanges. The xStock Alliance forms with nine major firms to promote adoption and awareness of tokenized stock ecosystems globally. US-based digital assets exchange Kraken and tokenization firm Backed Finance have partnered with TRON DAO to integrate “xStocks” with the TRON blockchain. The TRON network will join both Solana and BNB Chain to become the third such…

China to Lift Crypto Ban Soon, Allowing Yuan-Backed Stablecoins

Key Notes Beijing sees stablecoins as a tool for Yuan internationalization amid U.S. dominance in dollar-backed digital assets. However, capital controls remain a challenge, with the Yuan’s share of global payments falling to 2.88% in June. China’s stepping into the crypto space could boost overall global adoption. The latest reports suggest that China is planning to lift the crypto ban after a decade and push for the adoption of yuan-backed stablecoins. Reuters reports that China’s State Council will review and may approve a roadmap later this month. The plan aims…

$6.6 Billion in DeFi Deposits, Base Network Outshines Tron

Key Notes Base has outperformed Justin Sun’s Tron Network with a total of $6.6 billion in deposits. Consequently, Base is now the fifth-largest blockchain in the DeFi space. Tron, however, has surpassed Base in stablecoin trading volume. Coinbase Layer-2 solution, Base Network, has outperformed its counterparts, including Justin Sun’s Tron Network. It locked in a total of $6.6 billion in deposits, per insights from DeFiLlama data. This comes a few weeks after the L2 briefly suffered a downturn. Morpho on Base Brings Stellar Performance Base has become the fifth-largest blockchain…

Ulu Ventures Publicly Backs Pi Network Amid PI Token Free Fall

Key Notes Ulu Ventures added Pi Network to its portfolio, reaffirming support. PI trades just 4% above all-time lows despite institutional backing. Exchange balances rose to $414.6M, suggesting liquidation risks. Pi Network PI $0.35 24h volatility: 2.2% Market cap: $2.74 B Vol. 24h: $55.67 M has received a significant show of confidence as Ulu Ventures, one of its early seed investors, formally added the project to its portfolio of companies. Despite this institutional backing, the PI token remains under heavy selling pressure, trading just above its all-time lows and raising…

Bitcoin and Ethereum ETFs See $1B Outflow

Key Notes Fidelity led withdrawals with $403 million in combined Bitcoin and Ethereum ETF outflows. The recent outflows come as Bitcoin price and Ethereum price saw over 8% correction over the past week. The Crypto Fear & Greed Index fell to 44 (“Fear”) on August 20, reflecting a shift in sentiment. US issuers of spot Bitcoin BTC $113 443 24h volatility: 1.7% Market cap: $2.26 T Vol. 24h: $47.24 B ETFs, and spot Ethereum ETH $4 191 24h volatility: 2.6% Market cap: $504.51 B Vol. 24h: $45.24 B ETFs, faced…

Celsius Starts $220M Creditor Payout

Key Notes Celsius Network has finally commenced the third phase of its payout. It is distributing approximately $220 million to affected creditors. As a result of this new development, the crypto lender has fulfilled 64.9% of creditor claims. Celsius Network, a crypto lender hit hard by the 2022 market crash, has begun the third phase of its creditor payouts. It intends to distribute approximately $220 million to affected creditors who have yet to receive a refund. Celsius Launches Third Creditor Payout Within a Year On August 20, Celsius Network announced…

ARK Invest Buys Bullish Stock Amid 32% Drop

Following the successful IPO listing last week, stock price of Peter Thiel-backed crypto exchange Bullish (NASDAQ: BLSH) has been on a free fall with a 32% drop over the past week. Cathie Wood’s Ark Invest finds an opportunity here, scoping more than 350,000 BLSH shares on Tuesday, August 19. Cathie Wood’s Ark Invest Buys the Bullish (BLSH) Stock Dips Cathie Wood’s ARK Invest increased its exposure to crypto-related stocks, acquiring more shares of Bullish and Robinhood during a sector-wide downturn. Trade disclosures from Tuesday show that ARK’s flagship ARK Innovation…

Ethereum 10% Rally Next: “Rally and Short-Squeeze Is Coming”

Key Notes Analysts expect a 10% ETH bounce from current dip-buy levels. Coinbase ETH premium turns positive, signaling strong US institutional demand. BitMine now holds $6.6B in Ethereum, over 1% of supply. Ethereum ETH $4 209 24h volatility: 2.3% Market cap: $508.23 B Vol. 24h: $40.50 B could be preparing for a major rebound after a sharp pullback, with analysts forecasting a potential 10% rally. Crypto analyst Michaël van de Poppe argued that the recent dip is an “ideal area for dip buying” on ETH. According to him, volatility is…

Whales Liquidate 470M XRP as Crypto Profit Taking Spikes

Key Notes XRP whales dumped 470M tokens in just 10 days, sparking a 17% monthly price drop. Price now trades at $2.89, below both the 20-day and 50-day EMAs. SEC delayed its decision on the Coinshares XRP ETF until October 23. XRP XRP $2.90 24h volatility: 3.8% Market cap: $172.29 B Vol. 24h: $7.11 B is under mounting pressure as large holders continue to unload their bags at an alarming pace. According to on-chain analyst Ali Martinez, whales have liquidated nearly 470 million XRP over the past 10 days, shaking…