Author: Yeek.io

Ralph Coin [RALPH], the AI memecoin linked to the “Ralph Wiggum” trend, saw an 80% price drop after a developer sold $300k of the token into thin liquidity. The losses came in a single 4-hour trading session. In an update on X on 22 January, Lookonchain noted that the developer sold 7.68 million RALPH tokens worth 1,888 Solana [SOL]. This was worth $245k at the time, and the memecoin’s market cap crashed from $50 million to around $5 million. Source: Bubblemaps on X Bubblemaps shared on Thursday that the seller’s cluster still held 3% of the supply. At the time…

Quick take: Dan Romero, a former vice president at Coinbase, assured followers that Farcaster isn’t shutting down, and that Neynar plans to shift it in a more developer-focused direction. According to Romero, Farcaster had 250,000 MAUs in December and boasts over 100,000 funded wallets. On January 20, Aave transferred Lens Protocol stewardship to Mask Network, highlighting the ongoing consolidation in the crypto social segment of the blockchain industry. Merkle Manufactory, the organization behind the Ethereum-based Web3 social media infrastructure platform Farcaster, has announced plans to return $180 million to venture capital backers. The report came out late on Thursday after…

Quick take: People familiar with the matter cautioned that the plans could still change, according to the Financial Times. Ledger offers cold wallet storage devices, enabling crypto users to store private keys off-chain. Founded in 2014 in Paris, Ledger was valued at $1.5 billion in 2023 after raising funds from the likes of Singapore’s True Global Ventures and 10T Holdings. Cryptocurrency security company Ledger, the developers of the popular cold storage crypto wallet by the same name, is reportedly going public in an IPO that could value it at more than $4 billion. According to the report by the Financial…

Pippin [PIPPIN] traded within a consolidation range of $0.28 and $0.35; the memecoin bottomed at $0.26 and rebounded. Soon, PIPPIN broke out of this range and touched a local high of $0.415, clearing its recent losses. As of this writing, PIPPIN traded at $0.412, up 27.57% on the daily charts. Over the same period, its volume jumped 21% to $56.5 million, while its market cap rose 25% to $388 million.  PIPPIN sees renewed interest, with whales leading After a prolonged period of weakness, investors, both whales and retail, rushed into the market and defended key levels.  According to how2onchain, Wintermute’s…

An AI-themed meme coin associated with the “Ralph Wiggum” prompting trend declined sharply after on-chain data indicated a wallet connected to developer Geoffrey Huntley sold a substantial amount of tokens within one hour, according to visual analytics platform Bubblemaps. Summary RALPH tokens plunged after wallet-linked sales by Huntley and other whales. Huntley described the sales as “de-risking,” while critics argued the timing undermined confidence; some suggested gradual exits through liquidity pools to reduce market impact. RALPH’s market cap dropped sharply with intraday trading volume exceeding total supply, though the token remains above its early-January low, highlighting volatility in speculative meme…

WHITEWHALE crypto surged over 72% in the past 24 hours, erasing some of the losses seen over the past week since the post-launch rally. The memecoin had crashed by over 86% since reaching its peak cap last week. Trader activity, particularly from bad actors, has influenced the memecoin’s anomalous performance. Team uncovers spoofing orders from some exchanges First, this memecoin’s crash was manufactured. The WHITEWHALE team uncovered a series of spoofing sell orders on some exchanges, like MEXC. Through a statement on X (formerly Twitter), The WhiteWhale Team reported, “A little over a week ago we detected active market manipulation…

Dogecoin has gained a new layer of institutional legitimacy with the launch of a Dogecoin exchange-traded product [TDOG] by 21Shares on 22 January, in the US. However, the memecoin’s price action suggests the market is yet to treat the development as a bullish catalyst. The product offers regulated exposure to Dogecoin and marks one of the most serious attempts yet to package the meme token for traditional investors.  Despite the milestone, DOGE has continued to trade lower, extending a multi-month downtrend. ETF access arrives as DOGE trades near cycle lows At the time of writing, Dogecoin is trading around $0.124,…

Quick take: The company plans to use the fresh capital to accelerate its ongoing projects as it seeks to bring WallStreet on-chain through tokenization. Superstate said it has already tokenized over $1.2 billion in assets since its $14 million Series A raise in November 2023. The company also built Opening Bell, a platform that enables public companies to tokenize their shares on Ethereum and Solana, as well as raise follow-on capital through Direct Issuance Programs. Superstate, the real-world asset tokenization platform targeting publicly listed companies, has raised $82.5 million in a Series B round led by Bain Capital Crypto and…

Trump Media (Nasdaq, NYSE, Texas: DJT) has set the 2nd of February for a token airdrop for shareholders who hold at least one whole DJT stock, as part of its blockchain rewards strategy.  The firm, associated with U.S. President Donald Trump, owns the social media platform Truth Social and fintech firm Truth.Fi. The plans were first announced last year and have now advanced to the final stages.  The associated rewards would be tied to discounts and benefits for the firm’s products, spanning Truth Social, its prediction market, Truth Predict, and its streaming platform, Truth+.  Interestingly, the move comes at a time…

Quick take: Jack and part of the Clanker team will be joining Neynar, the Ethereum infrastructure developer, announced on Wednesday. Neynar’s vision for Farcaster is to enable builders to go from idea to recurring revenue, supported by a builder-first network. The company plans to create a unified platform for software generation and crypto native rails in a builder-focused ecosystem. Ethereum infrastructure developer, Neynar, has announced the acquisition of social media protocol, Farcaster, from Merkle. As part of the acquisition, Neynar will now maintain the Farcaster protocol, run the Farcaster clients, and operate Clanker, the company said in a blog post…