Author: Benjamin Lee
Blockchain tracking firm Lookonchain says one crypto trader is looking at multi-million dollar profits after trading the official memecoin of Melania Trump, wife of US President Donald Trump. According to Lookonchain, the trader scooped up 5.2 million Melania (MELANIA) at just $0.13 per coin right after the digital asset’s launch on Sunday – the day before Trump’s presidential inauguration. Four days later, the trader had sold off every MELANIA token for a gain of 6,208% on the initial investment of $688,000, racking in a $42.7 million profit. “This guy has sold all MELANIA, making a total profit of $42.7 million…
Ethereum (ETH) founder Vitalik Buterin is concerned about the rise of “political coins,” memecoins such as MELANIA and TRUMP. Buterin says the crypto sector has spent the past year entering “a new order” where people cheer on the idea of creating a token for anything at any scale. “And so now is the time to talk about the difference between sugar-high short-term fun that is unwise to recommend to newbies, and long-term fulfillment and wealth-building. It is not about ‘fun is bad’, it is about the equivalent of modern hyperaddictive cellphone games, versus chess or World of Warcraft. Now is…
A widely followed trader is issuing a warning on altcoins in the artificial intelligence (AI) crypto sector. The trader pseudonymously known as Bluntz tells his 312,000 followers on the social media platform X that the “big” AI-related crypto assets are signaling the possibility of the bullish run coming to an end over the short term. According to the analyst who regularly applies the Elliott Wave theory in his technical analysis, lots of the AI-related altcoins have retraced from the peak of the final wave of a bullish trend that started months ago. The Elliott Wave theory states that the main…
Two low-cap memecoins are primed to surge higher amid low market sentiment, according to a popular crypto analyst. The pseudonymous analyst known as Pentoshi tells his 846,600 followers on the social media platform X that he’s bullish on PENGU, the utility token for the non-fungible token (NFT) project Pudgy Penguins, as well as the memecoin Fwog (FWOG). PENGU is trading at $0.0244 at time of writing. The 88th-ranked crypto asset by market cap is up nearly 4% in the past 24 hours. FWOG is trading at $0.187 at time of writing. The 380th-ranked crypto asset by market cap is down nearly…
President Trump has officially eliminated a controversial guideline from the U.S. Securities and Exchange Commission that effectively prevented US banks from holding crypto assets. The new administration just rescinded Staff Accounting Bulletin 121, which forced banks to identify crypto assets held on behalf of their customers as liabilities on their balance sheets. A bill aiming to eliminate the guideline passed both the House and the Senate last year, but President Biden vetoed the bill. Although the issue is a top priority among crypto proponents, the removal of the rule was not a campaign promise. Bank of America CEO Brian Moynihan recently said…
Coinbase is officially listing a new memecoin that uses the name and likeness of the top US crypto exchange’s CEO’s pet dog. According to a new announcement, Coinbase is officially supporting Toshi (TOSHI) starting today. “Coinbase will add support for Toshi (TOSHI) on the Base network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase and Coinbase Exchange in the regions where trading is supported.” Coinbase is adding support for TOSHI on Base, an Ethereum (ETH) layer-2 network incubated by the exchange. The announcement was made yesterday around…
President Trump just signed an executive order to evaluate the creation of a strategic national Bitcoin and crypto stockpile, as well as prevent the adoption of a Central Bank Digital Currency (CBDC) while boosting stablecoin adoption. The order, entitled “Strengthening American Leadership in Digital Financial Technology,” states the administration supports the “responsible growth” and use of digital assets and blockchain technology. The order revokes President Biden’s previous digital asset directives and creates a new working group that will coordinate and propose a unified regulatory approach to digital assets within 180 days. “The Working Group shall evaluate the potential creation and…
A popular crypto analyst thinks one top-10 altcoin is on the verge of another rally. The pseudonymous analyst known as Altcoin Sherpa tells his 240,300 followers on the social media platform X that XRP‘s next leg is loading. Source: Altcoin Sherpa/X XRP is trading at $3.17 at time of writing. The 3rd-ranked crypto asset by market cap is up more than 5% in the past week. Altcoin Sherpa also thinks Bitcoin (BTC) is loading a “god candle” that will take its price to $120,000. Source: Altcoin Sherpa/X BTC is trading at $103,254 at time of writing. The top-ranked crypto asset…
Blockchain tracking firm Lookonchain says one whale trader let slip through their hands a $180 million profit by selling a new memecoin too early. According to Lookonchain, trader “LeBron” sold more than 4.5 million Official Trump (TRUMP) at an average price of just $1 per coin before the digital asset soared to double-digits, missing out on a massive nine-figure profit. “LeBron sold 4.52 million TRUMP ($185 million) for 4.52 million USDC at an average price of $1, cashing out too early and missing a $180 million profit [at time of reporting]. [On Tuesday], he spent 2.5 million USDC to buy…
A veteran trader known for timely crypto calls says he’s leaning bullish on the native token of a modular blockchain project. Pseudonymous trader The Flow Horse tells his Telegram channel that Celestia (TIA) may be gearing up for a breakout after forming a classic bottoming pattern during the last six months. “I find TIA very interesting right now. For a few reasons: There seemed to be a major capitulation of emotions on it over the last few days, peaking during the period that [venture capitalist] Chris Burniske was the target of CT (crypto Twitter) over his position on it. Because…