6 hours ago
Bitcoin whales amassed over 16,000 BTC in about 24 hours following the last dip. Similar activity was recorded as the market flipped green, with bulls looking to rake in gains. This sequence is usually the trend in a price correction in the bull cycle and leads to growing market inflows. This year, several institutions have bought the dip, pouring funds in anticipation of price gains. This follows the bullish drive in Q1 2024, which saw Bitcoin hit a new all-time high above $73,000 after the United States Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs . On-chain Analyst Spot Whale Activities A new CryptoQuant report shows large transfers to whale addresses. In nearly 48 hours, whale purchases topped $1.5 billion as traders look to recover from the dip that wiped out almost $4 billion from the market cap. Fluctuations in BTC price stirred panic, leading to massive liquidations allowing bulls to accumulate assets. According to the report, the $1.5 billion seen in whale addresses does not include coins in centralized exchanges. There is a possibility that institutional players accumulated more assets but have not yet withdrawn them. Although the figures look impressive, these traders are mostly institutional traders with little input from retail. For Bitcoin’s price to break its all-time high, retail numbers need to go up significantly. Crypto enthusiasts reacted positively to recent crypto purchases from Bitcoin mining firms and other institutions. “Marathon Digital, $MARA, has acquired 6,474 BTC in November and has $160 million in cash reserved for potential future purchases. Marathon now holds 34,794 BTC, making it the second-largest corporate Bitcoin holder after MicroStrategy,” X user unusua_whales wrote. Impact on The Market Positive sentiments in Bitcoin translate to similar trading patterns in the wider market. This month, BTC surge to multiple all-time highs led to an upward swing in altcoins and meme tokens. Although Bitcoin maintained growing dominance, the market frenzy resulted in the total capitalization soaring past $3 trillion. Bitcoin currently trades at $97,094 as the asset tries to recover weekly losses. Altcoins like XRP have also marked gains recently with double-digit weekly numbers. Bitcoin bulls have set short price targets above $100K this year, and altcoin holders anticipate gains in their favorite coins.
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Trader Turns $160 Into $6,140,000 on New Under-the-Radar Solana-Based Memecoin in Just 12 Days: Lookonchain
Blockchain tracker Lookonchain says one savvy crypto trader is enjoying a chill 38,399x return on a new memecoin. According to Lookonchain, one anonymous trader is enjoying humongous gains from a Just a Chill Guy ( CHILLGUY ), a Solana ( SOL )-built memecoin based on a viral cartoon. “Turned $160 into $6.14M, ??a 38,399x return! 12 days ago, this trader spent only 0.75 SOL($160) to buy 12.5M CHILLGUY on http://Pump.fun, and then sold 2.8M CHILLGUY for 149 $SOL($35.4K). CHILLGUY The trader still holds 9.62M CHILLGUY($6.1M), with a total profit of $6.14M!” Source: Lookonchain/X Source: Lookonchain/X CHILLGUY has been one of the most viral memecoins of the last month. Last week, the illustrator behind the viral “Chill Guy” meme warned CHILLGUY holders that he plans to take legal action against the Solana ( SOL )-based memecoin over copyright issues. Chill Guy creator Phillip Banks took to the social media platform X to threaten legal action against unauthorized, for-profit uses of his viral cartoon. “Just putting it out there, chill guy has been copyrighted. like, legally. I’ll be issuing takedowns on for-profit related things over the next few days.” CHILLGUY is trading for $0.461 at time of writing, up 16.1% from a week ago. Following Banks’ tweet, CHILLGUY fell about 54%. The extremely volatile memecoin was created less than two weeks ago. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Trader Turns $160 Into $6,140,000 on New Under-the-Radar Solana-Based Memecoin in Just 12 Days: Lookonchain appeared first on The Daily Hodl . ZyCrypto
Why Brett’s Buzz Can’t Match BTFD Coin’s Presale Potential in December!
As we explore what makes BTFD Coin so compelling, we’ll also touch on Brett and its place in the meme coin landscape. Read original article on coincu.com ZyCrypto
