The price of PUMP token saw a big surge after the parent platform Pump implemented a major supply reduction. fun, the token surged around 7.6% in just a day. This followed an announcement that nearly $370 million in PUMP tokens—around 36% of its circulating supply—had been permanently burned. This is one of the largest token burns we’ve seen in recent months, and it quickly caught up with traders. Token burns are when assets are burned (through an irreversible transaction to a dead wallet) and help reduce the overall supply in circulation while also enhancing value possibly driven by scarcity. In
The post Pumpfun Burns $370M In Tokens As $PUMP Surges And New Buyback Strategy Aims To Restore Market Confidence appeared first on The Merkle News.
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Hedera, Stellar, XRP, Algorand and Cardano rallied 250% in 30 days. Is a price correction looming?
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SOL is up more than 20% this week, and data suggests that the rally will continue.
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A sharp uptick in Solana network activity and the blockbuster performance from memecoins back SOL’s rally toward $180.
]]>REEF has seen a dramatic turn of events, with the token’s value plummeting by 68% in the last 13 hours and a staggering 71% within just 24 hours. This sharp decline has left many questioning whether this is a case of insider profit-taking or simply a temporary market dip. Some speculate that major market manipulation could be at play. The story began on August 2, when Binance announced the delisting of REEF spot pairs. Following this announcement, retail traders quickly moved to short the token, anticipating a price drop. However, large whales seemingly took the opposite approach, initiating a pump
The post REEF Experiences Massive Crash After 650% Pump: Manipulation Or Market Dip? appeared first on The Merkle News.
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Ethereum’s dominance in decentralized application deposits compensates for the reduced onchain volumes, but what about ETH price?
]]>Following the opening of trading for $PUMP, analytics platform Lookonchain revealed an impressive feat by a whale in the cryptocurrency market. In a span of less than one hour, this whale managed to generate a staggering profit of $1.6 million by strategically trading $PUMP tokens. The sequence of transactions began with the whale initiating a buy order, spending a gas fee of 0.24 $BNB (equivalent to $138) to acquire 375.4 billion $PUMP tokens at a cost of 6,000 $BNB (approximately $3.48 million). After $PUMP opened trading, a whale made 2,759 $BNB($1.6M) on $PUMP in less than 1 hour! He spent
The post Whale Makes $1.6 Million Profit In Less Than An Hour With $PUMP Trading appeared first on The Merkle News.
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Bitcoin options and futures data suggests the current BTC price movement could have longevity.
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With just over two weeks left until The Merge, ethereum’s value against the U.S. dollar has lost all the gains the crypto asset recorded leading up to the hardened date. In mid-August, ether managed to climb above the $2K zone but since then, the second largest cryptocurrency by market cap lost 23% over the past […]
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The Iron Condor options strategy gives risk-averse traders a safer way to profit from a potential $3,400 to $5,400 ETH price.
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