Below is a weekend market news recap on BTC, ETH, PEPE, METIS, ORDI.
$METIS and $ETH:
On July 9, the PolyNetwork exploiter sold 43.27K $METIS for 349.4 $ETH ($652K) on the Ethereum chain over the past 15 hours, causing a more than 10% drop in $METIS price. The exploiter still holds 62,818 $METIS ($961K) and may continue to sell more, potentially affecting the $METIS market.
Also on July 9, a prominent crypto trader known as Dimethyltryptamine.eth made a substantial sale of 180 billion $PEPE for 149.4 $ETH, equivalent to $279K. This sale leaves 2.07 trillion $PEPE, worth approximately $3.24M, in circulation. The trader initially spent 0.125 $ETH ($251) to buy 5.9 trillion $PEPE and has since sold a total of 3.83 trillion $PEPE for 2,411 $ETH, netting around $4.5M.
$ETH and $BTC:
On July 8, a smart trader identified as 0xe28, who has a trading profit of $841K, started to long $ETH and $BTC. The trader’s positions in $ETH and $BTC could potentially influence the market prices of these cryptocurrencies.
Ordinals(#ORDI) and Bitcoin ($BTC):
On July 8, Dune Analytics data showed that the Bitcoin NFT protocol Ordinals has minted approximately 15.4 million inscriptions, generating a total fee income of 1813 BTC, worth about $54.975M.
On July 7, Hong Kong-listed company Linekong Interactive Group (08267.HK) announced that it had purchased a total of 44.2812 Bitcoins on the open market for $590K and $650K respectively. This corporate investment in Bitcoin could potentially influence its market value.
$ANKR and Flare($FLR):
Also on July 7, Ankr announced that it would soon be adding the Flare blockchain to its RPC service. This development is expected to benefit developers looking to build scalable and data-connected dApps on top of Flare.
On July 6, Matrixport’s report indicated that Bitcoin reached a one-year high on June 22, 2023, signaling the end of bear markets and the start of new crypto bull markets. This signal has been triggered four times, with bull markets occurring in 2013, 2017, and 2021. Based on previous signals, it is a 100% probability that by the end of 2024, Bitcoin will experience another massive bull market with a price target of $125,000 (+310%).