Author: Yeek.io

52.67% of top traders held short positions, while 47.33% held long positions A section of whales appeared to be accumulating ETH too Ethereum (ETH), the second-largest cryptocurrency by market cap, seemed to be showing signs of a potential price decline after forming a bearish pattern on the charts, at press time.  Ethereum’s (ETH) bearish outlook Worth noting, however, that parts of his bearish trend are not only evident in ETH, but also across major cryptocurrencies such as Bitcoin (BTC), XRP, and Solana (SOL). Since December 2024, ETH has been on a downtrend and has broken down and successfully retested its…

Hardly a well-known name in the crypto industry, former college football player and the young politician, Bo Hines, 29, got a high-profile appointment as an executive director of the Presidential Council of Advisers for Digital Assets, (or the “Crypto Council”) position on Dec. 23, 2024. What are his views on crypto? Not surprisingly, Bo Hines is a pro-crypto politician – if he wasn’t, Trump wouldn’t have appointed him, given the bold support for crypto from the U.S. President-elect. For years, Hines has been a consistent Joe Biden critic and a passionate Donald Trump supporter. This loyalty didn’t go unnoticed, and…

Ethereum price started a minor recovery wave after it dropped to the $2,920 zone. ETH is rising and might face hurdles near the $3,240 zone. Ethereum started a minor recovery wave from the $2,920 zone. The price is trading below $3,250 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could struggle to start a fresh increase above the $3,200 resistance level. Ethereum Price Attempts Recovery Ethereum price failed to settle above $3,250 and extended losses like…

Special thanks to Vlad Zamfir for much of the thinking behind multi-chain cryptoeconomic paradigms First off, a history lesson. In October 2013, when I was visiting Israel as part of my trip around the Bitcoin world, I came to know the core teams behind the colored coins and Mastercoin projects. Once I properly understood Mastercoin and its potential, I was immediately drawn in by the sheer power of the protocol; however, I disliked the fact that the protocol was designed as a disparate ensemble of “features”, providing a subtantial amount of functionality for people to use, but offering no freedom…

The bearish wedge pattern and negative funding rates signal a potential downside for BNB. Derivatives activity surges, but mixed signals keep traders cautious about BNB’s next move. Binance Coin [BNB] is under pressure as it forms a rising wedge pattern on the weekly chart, a technical structure often signaling bearish outcomes. This pattern, combined with mounting resistance levels, raises questions about its ability to hold its ground.  At press time, BNB was trading at $676.54, marking a 2.38% decline in the last 24 hours. Therefore, the token’s price action is at a pivotal point, and traders are bracing for its…

Despite broader bearish trends in the cryptocurrency market, Tron (TRX) has demonstrated resilience with notable growth in key metrics. Recent analysis from CryptoQuant contributors sheds light on Tron’s expanding ecosystem and revenue surge, presenting a compelling case for its role in blockchain technology’s ongoing evolution. One major highlight is the substantial increase in Tron’s daily on-chain revenue. According to the data shared by the analyst, Crazzyblockk, this rise has been driven by the network’s enhanced gas fee revenue and higher transaction volumes. Additionally, Tron’s price movement appears to be now becoming interesting as it approaches critical support and resistance levels,…

On-chain data shows the Bitcoin short-term holders have started selling at a loss. Here’s what this could mean for the cryptocurrency’s price. Bitcoin Short-Term Holder SOPR Has Just Dipped Under 1 As pointed out by CryptoQuant author Axel Adler Jr in a new post on X, the Bitcoin Spent Output Profit Ratio (SOPR) of the short-term holders has declined into the red zone recently. The “SOPR” here refers to an on-chain indicator that tells us whether the BTC investors are selling their coins at a profit or loss. The metric works by going through the transaction history of each coin…

I’m Gavin Wood, a co-founder of Ethereum and, along with Vitalik Buterin and Jeffrey Wilcke, one of the three directors of the Eth Dev, the NFP organisation that is managing the development (under contract from Ethereum Suisse) of the Ethereum blockchain. This is a small update to let you all know what has been going on recently. I sit here on an immaculate couch that has been zapped forward in time from the 1960s. It is in the room that will become the chillout & wind-down room of the heart of the (C++) Ethereum development operation. Surrounding me is Alex…

Wagmi, a multi-chain decentralized exchange (DEX), has more than doubled its total value locked (TVL) in the past month. On Saturday, January 11, the platform hit a record $49 million in TVL, as per DefiLlama. Wagmi is a DEX and yield platform supported by nine EVM-compatible chains, including Ethereum, Sonic, IOTA EVM, Kava, and Metis. Its recent growth is attributed to Sonic, which finalized its rebranding from Fantom in December 2024. On December 22, Wagmi’s TVL on Sonic started with $600k. Today, it is at a record $25.5 million, accounting for more than half of the platform’s liquidity. Sonic is…

A newly identified whale, “0x8f5,” withdrew 280 billion $PEPE tokens worth $5 million from Binance  Whale accumulation has historically been a bullish precursor, particularly in low-cap tokens An analysis of recent on-chain data revealed a surge in PEPE accumulation by cryptocurrency whales – A sign of renewed interest in the popular memecoin.  In fact, a newly identified whale, “0x8f5,” withdrew 280 billion PEPE tokens worth $5 million from Binance, marking a significant transaction in the token’s ecosystem. This trend hints at strategic positioning by high-net-worth investors, likely in anticipation of a potential rally or market event.  Historically, whale activity in…