Tag: Token

OX token value craters after co-founder’s arrest triggers uncertainty

Open Exchange’s (OPNX) native currency crashed on the heels of co-founder Su Zhu’s arrest. OX token value craters When Zhu was apprehended in Singpaore, it triggered a massive wave of sell pressure, resulting in a steep decline in the value of OX tokens. According to Alphanomics, approximately $1 million worth of OX tokens were hastily dumped by token holders in the days following the news. As a result, OX tokens dropped to as low as $0.010. While a minor recovery has occurred since the initial crash, the token’s value remains…

Whales accumulating PEPE, meme token rallies 20%

PEPE is steady at spot rates, likely because of whale activity. Trackers show that the meme token is up 8% on the last day, stretching gains by 20% in the past week. This suggests that trader sentiment is improving. Lookonchain data on Sep. 29 reveals that PEPE whales have been accumulating.  Three major transactions, totaling $1.5 million, were made on Sep. 28 to purchase PEPE. On Sep. 29, two new wallets spent over $800,000 to acquire 1.08 trillion PEPE.  Meanwhile, another investor traded $645K worth of Ethereum (ETH) for PEPE.…

What’s The Next Move For Curve DAO Token?

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Curve Finance’s native token, CRV, has recently experienced a notable uptick in value, driven by a sudden surge in whale accumulation. As the decentralized finance (DeFi) platform’s token rebounds from its November 2022 low of $0.4, crypto enthusiasts are left wondering whether this momentum is sufficient to initiate a sustained bullish trend for CRV. Over the weekend, cryptocurrency tracker Lookonchain detected an interesting activity involving two significant whales. The first whale orchestrated a substantial withdrawal, amassing a staggering 19.56 million CRV tokens valued at approximately $10.33 million from the popular…

Tottenham Hotspur taps Chiliz blockchain for Web3 fan token

Tottenham Hotspur will become the latest Premier League team to tap into blockchain technology to issue and manage its own Web3 fan token to drive supporter engagement and rewards. Spurs will issue the fan token through Socios.com, the fan engagement platform built on the Chiliz blockchain that has attracted over 80 major sporting teams from different codes around the world. The platform enables teams to issue and manage fan tokens, digital collectibles and real world rewards, while users can participate in DAO-like decisions involving their favourite teams. Related: From cricket to…

Optimism OP token slips 10% in week ahead of $30M token unlock

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The price of Optimism’s native OP token is leading losses among the top 50 cryptocurrencies, falling as far as 10% on the week ahead of a $30 million token unlock. According to data from tokenomics platform Token Unlocks, 24.16 million OP tokens, which account for roughly 3% of the circulating supply — are scheduled to be unlocked on Sept. 30. The next OP token unlock is scheduled for Sept. 30. Source: Token Unlocks At current prices, the unlock will see a little more than $30 million worth of OP tokens…

Optimism Slumps Most Among Crypto Majors Ahead of $30M Token Unlock

Cryptocurrency projects often lock a part of the token’s supply and release it gradually to prevent early investors and insiders from selling in large quantities immediately after they get the allocations. When the tokens are unlocked, they become available to sell, and thus, such events are usually considered bearish; often they induce price drops. However, sometimes investors front-run and may sell before the unlocking happens. Source

Moonbeam (GLMR) token up 50% following listing on Upbit

GLMR, the native crypto of the Moonbeam protocol, surged over 50% after news broke of its upcoming listing on the South Korean crypto exchange, Upbit. Moonbeam’s native token, GLMR, is experiencing a significant surge, rising by over 50% in the last 24 hours. The surge comes on the heels of a Sep. 25 announcement by Upbit, a South Korean exchange, that will list GLMR on its exchange, with a GLMR/BTC trading pair set to go live later today. The GLMR listing has sent a wave of excitement through the market,…

Aptos (APT) Token Price Rallies While Major Cryptos Trade Lower

Aptos’ APT token was one of the only digital asset tokens trading in the green on Monday, rallying 10% over the past 24 hours. Bitcoin, the world’s largest cryptocurrency by market value, traded down almost 2% over the same time period. Chainlink’s LINK was the only other digital asset that gained on Monday, up 2% after a strong week last week. Looking forward, eToro analyst Simon Peters noted in a morning update that this week looks slow for cryptocurrencies due to few macroeconomic updates. “With little in the way of…