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Whales Buy $495K Solaxy in Two Days: The Best Crypto Presale Ends in One Day
GameFi Guides

Solaxy Presale Ends in One Day as Whales Buy $495K in $SOLX

by admin June 15, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Solaxy ($SOLX) is turning heads – and wallets. In just the past 48 hours, crypto whales have scooped up nearly $500K worth of $SOLX tokens across more than ten big-ticket transactions.

One whale dropped $113K just today, while others followed closely behind with $59K and $58K purchases yesterday.

The project has already raised over $50M during its presale, and now it’s racing toward the finish line.
With just one day left before the presale ends, investors are making their move. And fast.

Why Are Whales Suddenly Flocking to Solaxy?

The answer seems to lie in a mix of urgency and belief.

The Solaxy ($SOLX) crypto presale officially ends Monday, giving buyers less than 24 hours to lock in $SOLX at $0.00176.

That’s a steep discount compared to where it could be headed if this whale interest keeps snowballing.

And this isn’t just a meme coin feeding frenzy (though we love a good meme coin moment). These are calculated, high-volume buys from wallets that don’t usually blink unless they see major potential.

In a market where new crypto projects pop up like mushrooms after rain, Solaxy appears to be one of the rare ones getting real traction.

So, What Is Solaxy?

Solaxy ($SOLX) is the first-ever Layer 2 built on Solana, designed to fix the problems that have plagued the network – like congestion, failed transactions, and limited scalability – while turning up the dial on what Solana does best: speed and low fees.

Its native token, $SOLX, is multichain and will be available on both Ethereum and Solana – the two most dominant and liquid blockchains in existence.

That means $SOLX connects the dots between Ethereum’s enormous DeFi and tokenization markets and Solana’s efficiency.

You get the best of both worlds: vast liquidity on one side and blazing speed with low fees on the other. This dual-chain power opens the door for an expanded user base and makes $SOLX a serious contender for long-term adoption.

Solaxy is also a game-changer for meme coin traders. It democratizes access to sniper bots, giving retail users the tools that were once reserved for whales and insiders.

That means faster entries, better exits, and more wins in a space where milliseconds matter.

With top Layer 2 tokens already boasting billion-dollar market caps, Solaxy is stepping in not just to compete, but to take the lead as the first and most powerful Layer 2 on Solana.

It’s more than a blockchain. It’s a bridge to the future of DeFi.

Time’s Almost Up: Just One Day Left to Buy

The clock is ticking. The Solaxy presale ends Monday, and there’s no second chance to buy at the current price of $0.00176.

So far, the project has raised over $50M, and in the past two days alone, whales have poured in nearly $500K across multiple six-figure buys. That kind of action signals confidence, not hype.

Now here’s where it gets exciting. According to current forecasts, $SOLX could reach $0.032 by the end of 2025. That’s a potential gain of 1,718% from today’s price.

But the real kicker comes when you factor in staking. With an annual percentage yield of 82%, investors who stake their tokens stand to grow their holdings significantly before $SOLX even hits those predicted highs.

Imagine you buy $SOLX for $1K today. At the current rate, they’d get about 568K tokens. Staking those tokens at 82% APY means they’d have over a million tokens in a year.

If the price reaches the predicted $0.032 by the end of 2025, that investment could be worth more than $33K.

Even if $SOLX only hits the low-end prediction of $0.0024, that’s still over $2,4K – more than double the original investment.

That’s the beauty of staking combined with smart timing. And timing is everything, because there’s just one day left before this presale closes for good.

The whales have already made their move. If you’ve been watching from the sidelines, now’s the time to jump in.

Your Last Chance to Catch the Wave

The clock is ticking on Solaxy, and the whales aren’t waiting.

If you’re hunting for the best altcoin opportunity before summer really heats up, $SOLX might be your last-minute ticket.

Don’t forget that this article is for informational purposes only and always do your own research (DYOR) before investing in crypto.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 15, 2025 0 comments
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Shiba Inu 249% On-Chain Surge: Whales Awakening?
GameFi Guides

Shiba Inu 249% On-Chain Surge: Whales Awakening?

by admin June 15, 2025


Dog-themed cryptocurrency Shiba Inu (SHIB) is exhibiting signs of life once more — and this time it could be whales making waves.

According to on-chain data by IntoTheBlock, large transaction volume for SHIB has skyrocketed by 249% in the last 24 hours to $40.62 million or 3.36 trillion SHIB, sparking fresh speculation that whales might be reentering the market.

Large transaction volume typically tracks movements of over $100,000 in value (referred to as large transactions), often linked to institutional players or large holders. A spike in this metric suggests increased activity among large holders or whales.

The recent increase is significant as Shiba Inu’s large transaction volume has stalled since June 7 after reaching a near six-month high of 24.3 trillion SHIB on June 5.

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When large holders start shifting coins, it can indicate accumulation before a potential price breakout or strategic repositioning ahead of a major market move. In SHIB’s case, the current surge appears more aligned with accumulation, as the price remains low, implying that whales may be preparing for something major.

At the time of writing, SHIB was up 4.27% in the last 24 hours to $0.00001219 after reaching a low of $0.00001141 in a three-day sell-off from a high of $0.00001362 on June 11.

Shiba Inu’s new developments

Shib Rollups is now live, as Shiba Inu dives deeper into blockchain infrastructure with a new platform that allows developers to create their customizable Layer-2 blockchains on Shibarium.

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This recent development marks Shiba Inu’s official entry into the fast-growing rollups-as-a-service (RaaS) industry, delivering dedicated blockchain settings for decentralized apps (dApps).

The Shib Rollups platform is powered by Shiba Inu’s recently launched Shib Alpha Layer, which is an important part of the network’s evolving infrastructure.

This week, Shiba Inu launched Shib Alpha Layer in beta version, a rollup abstraction stack built with ElderLabs and settled on Shibarium. Shib Alpha Layer unifies every RollApp into a single ultra-fast layer, giving users the impression that they are on one chain while dozens of rollups hum beneath the surface.



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June 15, 2025 0 comments
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CoinDesk News Image
Crypto Trends

ETH Whales and Sharks Add 1.49M in 30 Days, Now Hold 27% of Total Ether Supply

by admin June 15, 2025



Ether (ETH)

traded at $2,508 on June 14, down 0.88% in the past 24 hours, yet managed to hold support above the $2,500 level despite shifting institutional dynamics.

According to crypto analytics platform Santiment, wallets holding between 1,000 and 100,000 ETH — referred to as whale and shark wallets — have added a net total of 1.49 million ETH over the past 30 days. This group increased its combined holdings by 3.72% and now controls 26.98% of the total ether supply.

Santiment noted that while smaller, retail-driven wallets have been taking profits, these large holders have steadily accumulated. The divergence in behavior highlights growing long-term conviction among ether’s key stakeholders, even as retail sentiment appears to be wavering following recent price declines.

At the same time, U.S.-listed spot Ethereum ETFs registered $2.2 million in net outflows on Friday, marking the end of a 19-day inflow streak. The reversal, as confirmed by data from Farside Investors, is the first sign of slowing institutional demand via these ETFs since late May.

Still, ether’s broader structure remains intact. Following a pullback from recent highs near $2,870, ETH continues to hold above a historically significant support zone near $2,500. The persistent accumulation by whale and shark wallets may provide an important floor for price, particularly if macro conditions stabilize and regulatory clarity improves.

Technical Analysis Highlights

  • Ether traded between $2,499.39 and $2,580.53 over the past 24 hours.
  • Price peaked near $2,580 in the early hours before entering a steady decline.
  • The token briefly dipped below $2,500 before bouncing to close near $2,518.76.
  • Late-session volume surged, particularly around 17:30–18:00 GMT, coinciding with the rebound.
  • Support appears to be forming around $2,500, a key psychological and technical level.
  • Despite modest losses, ETH maintained a narrow range of $81.14 (3.14%), showing relative stability

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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June 15, 2025 0 comments
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Snorter Token reaches $1M since its start
Crypto Trends

Snorter Token Presale Reaches $1M in One Month as Whales Rush to Buy

by admin June 14, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Snorter Token ($SNORT) presale just reached $1M in little over a month, and the score keeps going up, with investors raring for a piece.

Snorter Token promotes the Snorter Bot, a Solana-based auto-trading bot that operates in a Telegram chat.

But why are people so excited about it?

The answer lies in how the bot functions and how it changes the name of the game for traders like you.

What Is the Snorter Bot?

The Snorter Bot, in its ultimate form, the Aardvark Sniper, is a trading bot whose sole mission is to scan the market for the hottest and most promising meme coins.

The bot fixes many of the problems associated with manual coin hunting, which may include:

  • Missed opportunities due to slow and subpar research
  • The high risk of running into scams like honeypots and rug-pulls
  • The need for fragmented tools like multiple wallets, chart apps, and browser extensions

The Snorter Bot fixes these problems by using a unified Telegram chat, which centralizes all these elements in one place.

This bring increased comfort, as you no longer need to juggle multiple trading tools, and improved security, as the bot can detect early signs of potential scam projects.

Snorter Bot also offers a comprehensive toolset for detecting and sniping the best altcoins on the market, which includes:

  • Automated sniping, with the bot tracking your desired project(s) and issuing a buy command the moment it detects liquidity. The reaction time measures in milliseconds.
  • Solana-based fast and secure swaps, offering priority execution and front-running protection
  • The lowest fees of any Solana bots at launch; only 0.85%
  • Custom limit orders and dynamic stop-losses
  • A portfolio dashboard, giving you all your trading tools and metrics in one place

These allow for smooth on-chain trenching, with the Snorter Bot digging through the market data and making near-instant decisions when the opportunity demands it.

Snorter Token Presale Details and Numbers

Snorter Token ($SNORT) packs impressive numbers for a presale that’s only a month-old.

Aside from breaching through the $1M ceiling, the $SNORT presale also welcomes investors with several other goodies.

For one, you can stake tokens for a 300% APY. However, the more people stake, the lower the APY drops, so invest early for higher rewards.

$SNORT’s price of only $0.0951 is another selling point, turning any early investment into a potential goldmine, provided the project performs well post-launch.

And, based on the project’s meme potential and utility, our analysts predict a $0.94 $SNORT in 2025. This is already an expected growth of 886% (or 9x) post-launch.

Long-term, $SNORT could perform even better, given widespread adoption, community support, and optimal development. By 2030, $SNORT could easily go to $3.25 and beyond.

This translates into an ROI of 3,317% (33x), turning a $100 investment into a $3,317 profit. And with an average staking APY of 100%, your portfolio could grow to ~$6,800 in a year

These numbers are supported by Snorter Token’s roadmap, detailing a promising development cycle, and the whitepaper, which explains the project’s utility and scope.

To buy $SNORT, visit the presale’s official page, connect your wallet (they recommend Best Wallet), and buy with $ETH, $USDT, $USDC, $BNB, or fiat.

Should You Buy Snorter Token ($SNORT)?

Going by how the presale is going (whales are showing increasing interest) and the project’s utility long-term, Snorter Token looks like a winner in our books.

What we know for sure is that, if Snorter Token lives up to its expectations and experiences widespread post-launch adoption, we should see $SNORT outperform in the charts long-term.

Remember, this is not financial advice. You should always do your own research before investing (DYOR) and adopt robust risk management strategies along the way.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 14, 2025 0 comments
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Ethereum
Crypto Trends

Ethereum Large Transactions Jump 100% In 24 Hours, Will ETH Whales Drive Altcoin Season?

by admin June 11, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum whales have started returning to the arena as the price has picked up once again. This return marks a turn for the digital asset, which has suffered from major sell-offs over the last few weeks. So far, they have more than doubled their activities in a single day period, showing a renewed interest in the market. The implications of this would be that Ethereum whales are driving the recovery and could trigger the start of the altcoin season.

Ethereum Whale Transactions Double In 24 Hours

According to the on-chain data aggregation website, IntoTheBlock, Ethereum whales have been one of the most active in recent days. The data alludes to an over 100% increase in their transaction volumes, as well as the number of transactions in a 24-hour period. The large transaction volumes alone rose 164.14% by Tuesday, bringing the total dollar value to around $7.84 billion.

For comparison, these large transactions involve transactions carrying at least $100,000 at the time they were moved. On Monday, there were only 3,080 transactions recorded. However, by Tuesday, this number had ballooned to almost 6,000. From here, the trend had grown, and an even higher rise was recorded in the volume of ETH that was transacted.

Compared to the total 1.18 million ETH that was moved by these large investors back on Monday, a total of 3.03 million ETH was moved by Tuesday alone. This translated to an over 150% increase in the volume of ETH transacted. This also carried on into the volume in dollars, moving from $2.97 billion on Monday to $7.84 billion on Tuesday.

Source: IntoTheBlock

The rise in the large transaction volumes coincides with the rise in the Ethereum price from around $2,500 to $2,700. This suggests that more of this volume was whales buying rather than selling, thus leading to the jump in the price of Ethereum.

Can This Trigger An Altcoin Season?

Historically, Ethereum has always been the leader of altcoin season, given its position as the largest altcoin in the market. This is also due to the fact that many of the top altcoins in the space are built on Ethereum’s infrastructure, making them a beta play to the second-largest cryptocurrency. So when the ETH price rose, so did the price of altcoins.

Given this trend, it is expected that Ethereum will once again lead the next altcoin season, and if its price continues to rise, the rest of the altcoin is expected to rise with it. However, there is still a problem as the Bitcoin dominance remains very high and would need to fall for the next altcoin season to begin. Ethereum would have to outperform Bitcoin, and so far, this has not been the case as ETH is yet to reach a new all-time high after Bitcoin, stalling the altcoin season.

ETH price rejected from $2,800 | Source: ETHUSDT on TradingView.com

Featured image from Dall.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 11, 2025 0 comments
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Bitcoin
GameFi Guides

American Whales Back Bitcoin Rally: Coinbase Premium Surging

by admin June 11, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Data shows the Bitcoin Coinbase Premium Gap has recently been going up, a sign that large US-based entities may be backing the price surge.

Bitcoin Coinbase Premium Gap Has Recently Been Green

As explained by an analyst in a CryptoQuant Quicktake post, the Coinbase Premium Gap has been following a gradual rise during the past few weeks. The “Coinbase Premium Gap” is an indicator that measures the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair).

When the value of this metric is positive, it means the cryptocurrency is trading at a higher price on Coinbase than Binance. Such a trend implies the buying pressure is higher (or the selling pressure is lower) on the former as compared to the latter.

On the other hand, the indicator being negative suggests Coinbase may be facing a net higher selling pressure as the coin is going for a lower price on there than Binance.

Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Gap over the last few months:

The value of the metric appears to have been heading up in recent days | Source: CryptoQuant

As displayed in the above graph, the Bitcoin Coinbase Premium Gap was negative earlier, indicating that users on the platform were potentially applying more selling pressure than Binance traders. Alongside these red values, the asset’s price witnessed a decline.

Then, in mid-April, the indicator registered a reversal into the positive zone and interestingly, what accompanied this buying pressure on Coinbase was a rally in the cryptocurrency.

As such, it seems the price of the asset has recently been showing some correlation with the Coinbase Premium Gap. This isn’t a particularly new trend, as the pattern was in fact witnessed a lot throughout the last year.

Coinbase is the preferred platform of the US-based investors, particularly the large entities like institutional traders. Binance, on the other hand, hosts a global traffic. Thus, the metric can be looked at as a representation of how the behavior of the American whales differs from the rest of the sector.

Recently, the Coinbase Premium Gap has been trending up inside the positive zone, which may be a sign that the US-based large holders have been participating in accumulation.

The increase has only furthered as the price has recovered to levels near the all-time high (ATH). Considering the relevance that the American institutional investors have held for Bitcoin in the past year, this backing from them can naturally be a bullish sign for the rally’s sustainability.

That said, while there has been an extended period of buying on Coinbase lately, the premium can still be to monitor in the near future, as things can sometimes take a quick turn in the cryptocurrency sector.

BTC Price

Bitcoin has seen some pullback since its high above $110,500 as its price has returned to $108,900.

The trend in the BTC price during the past five days | Source: BTCUSDT on TradingView

Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 11, 2025 0 comments
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HYPE hits new ATH in 12% climb as whales bet big
GameFi Guides

HYPE hits new ATH in 12% climb as whales bet big

by admin June 11, 2025



Hyperliquid has surged to a new all-time high closing at over $42, riding a wave of renewed market optimism, increased whale activity, and bullish investor sentiment.

On June 11, 2025, HYPE (HYPE) jumped by over 8%, pushing its price to a new record of $42.07. The rally extended its gains from the day before, marking a sharp reversal from last week’s dip that brought the token close to the $30 level.

The token’s new ATH record caps weeks of growing investor confidence, fueled by positive momentum, fresh exchange listings, and speculation of further upside potential. Trading volume also surged to over $500 million in the last 24 hours, with HYPE’s market cap now stands at $14 billion.

HYPE sets new all-time high, June 10, 2025. | Source | crypto.news

The uptick in HYPE’s price comes amid a broader crypto market rebound, which has seen various assets record fresh gains, However, even fueling the growth further is increased whale activity and an aggressive accumulation by large position holders.

Whales go all in on Hyperliquid (HYPE)

According to on-chain analytics platform Spot On Chain, one wallet recently scooped up 259,367 HYPE tokens, worth nearly $10 million at the time of purchase. The purchase makes the latest addition to the whale’s position, which has realized over 10 million in all-time profit trading the token.

Several other large-scale buys have been recorded as well. Three notable ones were purchases of 70,617.6 $HYPE at an average price of $35.40 by one wallet, worth approximately $2.5 million. Another transaction of similar weight was 28,500 $HYPE at $35.09 each, worth $1 million, and 57,372 $HYPE at an average cost of $24.95, valued at $1.45 million.

Beyond the large-scale purchases and volume, HYPE’s broader ecosystem developments are also contributing to the rally. Recent integrations and partnerships have strengthened the Hyperliquid network, attracting more users and reinforcing investor confidence in the project’s value. 

Although the token has slightly cooled from its intraday peak, currently trading around $41.24 at press time, it remains well above its previous resistance levels, signaling strong momentum.



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June 11, 2025 0 comments
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Whales lose SYRUP sweet tooth despite Maple Finance's growth
Crypto Trends

Whales lose SYRUP sweet tooth despite Maple Finance’s growth

by admin June 8, 2025



Despite Maple Finance’s impressive growth—nearing $1 billion in active loans and expanding its footprint to Solana—the platform’s native token, SYRUP, is showing signs of fatigue.

After a staggering 355% rally from its April lows, the token has stalled, with on-chain data pointing to slowing user adoption and diminished whale interest. While the protocol’s fundamentals appear strong, technical indicators such as a bearish double-top pattern and weakening network activity suggest that SYRUP’s recent momentum may wane.

At last check Sunday, Maple (SYRUP) price was trading at $0.40 — a few points below this month’s high of $0.4637.

On-chain data shows that SYRUP’s network growth has plunged. It moved from 1,085 on May 9 to 37 today. This metric looks at the number of new accounts created each day. 

More data reveals that the daily active addresses have dropped from 285 on May 9 to 422. These numbers mean that the SYRUP token is not growing as it did in May, when it surged.

SYRUP on-chain metrics | Source: Santiment

Meanwhile, whales are also not buying the coin. Addresses holding between 10 million and 100 million SYRUP tokens now hold about 384 million, down from last week’s high of 395 million. 

Similarly, those holding between 1 million and 10 million tokens hold 228 million tokens, while those with between 100 million and 1 billion tokens have 458 million coins, down from 803 million in March.

Maple Finance whale activity | Source: Santiment

Maple Finance nears $1b in active loans

On the positive side, Maple Finance’s network is growing. Active loans jumped to $998 million, meaning that they could hit $1 billion soon.

This is a big increase since these loans stood at $220 million on Jan. 1. It also achieved $2 billion in assets under management.

$2B AUM.

In just 6 months, Maple’s gone from rebuilding, to resurgence, to the leader in onchain asset management.

Here’s to the next $2B and beyond. 🥞 pic.twitter.com/eIQx4XiS8y

— Maple (@maplefinance) June 7, 2025

Maple Finance’s growth may continue after the network expands in Solana (SOL) by leveraging Chainlink’s oracle.

This integration has already started bearing fruit as the amount of syrupUSDC in circulation on Solana jumped by 35 million within the first 24 hours.

SYRUP price technical analysis

Maple price chart | Source: crypto.news

The eight-hour chart shows that the SYRUP token peaked at $0.4595 in May, forming a double-top pattern with a neckline at $0.3184. A double-top is a common bearish reversal pattern.

Maple Finance’s Relative Strength Index has formed a bearish divergence pattern. As its price rose, this divergence took the form of a downward channel. 

Therefore, the token will likely continue falling as sellers target the neckline at $0.3184, its lowest point on May 31, and 22% below the current level. 





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June 8, 2025 0 comments
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Mask Network price pumps then dumps as whales sell
GameFi Guides

Mask Network price pumps then dumps as whales sell

by admin June 8, 2025



Mask Network token surged to its highest point since December last year and then suffered a harsh reversal.

Mask Network (MASK), a privacy-focused token, rose to $3.6766, and then erased those gains and moved towards $2. 

On-chain data shows that the whale transaction count jumped. Santiment data shows that these transactions jumped to 26, its highest point since May 28. 

A deeper dive reveals that these whales are selling the Mask token. The supply of held by whales dropped to 28.26 million on Friday, the lowest level on record. 

More data shows that the 180-day and 365-day mean dollar invested age or MDIA has been in a strong downward trend. The 180-day figure dropped to 29.6, down from 50 in May, while the 365-day figure plunged to 38 from 70.

The MDIA figure looks at the average age of all coins weighted by their purchase price in US dollar terms. A falling figure is usually a bearish sign for a cryptocurrency. 

The other bearish sign for the Mask Network is its negative funding rate in the past few days. This happens when more traders are shorting an asset and are thus paying bullish ones a small fee.

Funding rate, MDIA, funding rate, whale holdings | Source: Santiment

Mask Network price technical analysis 

MASK price chart | Source: crypto.news

The daily chart shows that the MASK price surged to a high of $3.7020 and then suffered a harsh reversal to $2.3300. It dropped below the key support at $2.50, the highest swing on April 1. 

The Relative Strength Index tilted downwards, moving from a high of 80 to 54. Therefore, the token will likely continue falling as sellers attempt to move below $2 and the 50-day and 200-day moving averages. Sustained selling may see it drop to $0.9475, the lowest point in April.



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June 8, 2025 0 comments
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Ethereum Whales Move $159,000,000 ETH In One Go
Crypto Trends

Ethereum Whales Move $159,000,000 ETH In One Go

by admin June 6, 2025


A massive transfer of Ethereum tokens worth $159,000,000 was noticed on June 5th, according to the latest data from on-chain tracking platform, Whale Alert.

The transfer, which happened in just one go when Ethereum was trading at $2,579.08 per token, has triggered mixed reactions among the crypto community, as data shows that the large transfer involving 61,966 ETH was moved among unknown wallets.

The tracker revealed that the tokens were sent from an unidentified address “0x0b26C,” which has been consistently sending large amounts of ETH over the last five days.

Meanwhile, the receiving address “0x35365” could also not be traced to an identifiable centralized source. Nonetheless, the move appears to be sudden, as the wallet history shows that the tokens were the first large transfer ever received by the wallet.

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While the mysterious transfer is yet to impact market prices, investors are curious about the reason behind the bold move.

Following the negative trend experienced in the broad crypto market while the transaction was executed, X commentators are worried that the move might be an attempt to sell off Ethereum holdings by a high-profile or institutional investor.

Ethereum flips negative 

The large ETH transfer happened at a time when the broad crypto market is experiencing significant downturns with the prices of leading cryptocurrencies increasingly trading negatively.

Ethereum was not left out of this bearish momentum as its price was seen plummeting by 3.27% despite recording massive gains in the previous days.

This downtrend in Ethereum’s price performance has seen its price trade at $2539 as of press time. 

Source: CoinMarketCap

Despite this notable decline in the price of ETH over the last day, the second-largest cryptocurrency by market capitalization has seen its trading volume surge decently by 6.59% over the same period.

Usually, converse on-chain metrics like this have signaled increased trading activities which are not in favor of the underlying token’s trajectory.

The surge in Ethereum’s trading volume, while the value of the token moved in the opposite direction, suggests that the ratio of holders actively selling off their ETH holdings is largely greater than the number of buyers during the specified period.

Following the ongoing market dynamics, investors are currently uncertain about a potential flip in market sentiment which could drive an impressive rally across the crypto market.



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June 6, 2025 0 comments
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