A significant development has emerged in the cryptocurrency space, as on-chain analyst Yu Jin's latest data shows that a notable whale address 0x6ea4 has withdrawn an astonishing 220.9 trillion PEPE tokens from Binance, equivalent to about 29.16 million dollars in market value. This activity marks a critical moment, as it makes this address the second largest institutional holder of PEPE on the on-chain asset leaderboard (excluding centralized exchange addresses and addresses marked by the official PEPE team). The implications of such a large-scale transaction are profound, indicating an increased confidence among large investors in the future of the PEPE token. As the cryptocurrency landscape continues to evolve, monitoring the movements of these whales is vital for market participants seeking to understand potential trends and sentiment in digital assets.
According to Mars Finance news and data from the Ministry of Finance of El Salvador, El Salvador has increased its holdings by 8 bitcoins in the past 7 days, bringing its total bitcoin holdings to 6180.18 bitcoins, with a total value of 639.4 million dollars.
XRP may rise to $3, depending on Bitcoin breaking through critical resistance!
Currently, the crypto market is at a delicate critical point. Although Bitcoin's price once broke the $100,000 mark, it is now hovering before the key resistance level of $105,000, with overall upward momentum slowing down. This stagnation not only affects Bitcoin's own trend but also directly influences the performance of other high market capitalization crypto assets, with XRP being one of the most representative. Can XRP strengthen? Everything depends on Bitcoin's next move. In the past few days, although XRP has experienced several rebounds in the local market, its price remains constrained by Bitcoin's dominant trend. The current trading price of XRP is around $2.42, with the first resistance level for upward breakout at $2.72, while the key support level below is near the 50-day EMA at $2.27.
Solana rebounds from $168, poised to initiate a new rally; what are the reasons?
According to GemXBT in post X, Solana's chart shows signs of recovery after a recent downtrend, with prices rebounding from a key support level around $168. This price movement indicates that SOL has found a solid foundation in this support area. Such support levels are crucial in technical analysis as they indicate areas where buying interest may be strong enough to halt a downward trend. If a sustained rebound occurs from this level, it may attract more buyers, further stimulating upward momentum and laying the foundation for a stronger rebound in the coming days.
According to Spot On Chain monitoring, a wallet associated with the Compound team deposited 250,100 COMP (11.2 million USD) to Coinbase Prime in the past 3 hours. Previously, the wallet redeemed 398,100 COMP (approximately 17.7 million USD) from Compound V3, marking the first COMP movement for this wallet in 9 months. The wallet still holds 148,032 COMP (approximately 6.58 million USD).
Ethereum: 3 Catalysts That Could Push ETH to $5,000 by 2025
In the past month, Ethereum [ETH] has risen 55.17%, making it one of the assets with the largest increases among the top 10 by market cap. At the time of writing, buying pressure is easing as investors may be taking profits, resulting in a price drop of 2.47%. This downward trend may be temporary, as market analysis suggests that this is just a slight adjustment phase before another significant rise—this time to $5,000.
AMBCrypto analyzed the key factors that could drive ETH's rise. Does this positive recovery mean the green light is on?
Glassnode's recent analysis shows that on May 8, Bitcoin's market share skyrocketed to 64.4%, reflecting its strong position in the cryptocurrency space. Subsequently, Ethereum's market share rose to 9.75%, an increase of 3%. Meanwhile, altcoins' market share adjusted to 22.35% (+2%), and stablecoins' market share decreased to 6.3%. These fluctuations indicate that dynamic changes are occurring within the market, but both Ethereum and altcoins are currently lagging behind their historical highs by 18% and 28.5%, respectively. This suggests that the ongoing bull market is still primarily characterized by Bitcoin's performance, further solidifying its status as the leading asset in the cryptocurrency space.
Consensus Toronto 2025 receives significant news. Senior White House advisor Bo Hines stated that President Trump still plans to sign important cryptocurrency legislation before August. These laws include rules for stablecoins and the operation of the cryptocurrency market.
Summary of Important Overnight Developments on May 15
1. Tether will launch AI development platform QVAC; 2. MetaMask co-founder says native token issuance is still a 'maybe'; 3. JPMorgan completes the first public transaction of tokenized government bonds using the ONDO public ledger; 4. The Democratic Party in the U.S. requests the Treasury Department to provide information on Trump's cryptocurrency transactions, citing 'bribery' risks; 5. Coinbase CEO: Cryptocurrency will 'become a part of everyone's 401(k) retirement account'; 6. Wintermute will establish its U.S. headquarters in New York, appointing Ron Hammond as policy director; 7. U.S. lawmakers: Trump's involvement in cryptocurrency makes legislation 'more complex', but stablecoin and market structure bills are still expected to pass before August.
XRP has currently risen to the third position in the top ten cryptocurrency rankings, surpassing USDT. As XRP replaces Tether, XRP futures open interest increased by over $1 billion in the past week, rising from $2.42 billion to $3.42 billion (+41.6%). Glassnode points out that the sharp rise in leverage coincided with the price increase from $2.14 to $2.48, indicating increased speculative activity and bullish sentiment. According to Coinmarketcap data, XRP's market cap is $151.2 billion, while Tether's market cap is $150.3 billion. Tether ranks fourth with a market cap of $150 billion, followed closely by Solana (SOL), Binance Coin (BNB), USDC, Dogecoin (DOGE), Cardano (ADA), and TRON (TRX).
Ethereum Aims for $29K—Traders, Should You Expect the Rally to Cool?
Ethereum [ETH] leads the altcoins, rising 47% in five days. During this period, BTC increased by 7.9%. Unsurprisingly, Bitcoin's dominance fell from 65.36% to 62.38% in six days. Meanwhile, the altcoin market cap increased by $232 billion. The upgrade of Pectra has not only attracted retail investors but has also witnessed significant selling pressure from the influx of large funds into centralized exchanges. Ethereum is approaching the 50% retracement level—breakthrough, or…
The OBV has been on a steady decline throughout the year. However, the situation has changed in the past month, as the OBV trend reversal indicates buyer dominance. The CMF also supports this conclusion.
On May 14, COINOTAG reported a significant transaction in which a notable cryptocurrency whale (identified as 0xF92…CD1f9) executed a swap involving 2,000 ETH and 51.821 WBTC, valued at approximately 5.4 million USD. The executed swap rate was 2,709 USD per ETH. This move marks the whale's continued efforts to withdraw funds, with records showing that since the beginning of May, they have liquidated a total of 15,470 ETH, worth up to 37.69 million USD. The average acquisition cost for selling ETH was 2,436 USD, reflecting the strategic positioning of this market participant amid the dynamic changes in cryptocurrency. This transaction underscores the ongoing trend in the market, as institutional participants continue to adjust their positions based on current price fluctuations.
BlockBeats News, on May 14, according to HTX market information, Ethereum ecosystem DeFi tokens lead the market, among which: ETHFI broke $1.43, with a 24-hour increase of 40.3%; ENA broke $0.45, with a 24-hour increase of 20.1%; LQTY broke $1.2, with a 24-hour increase of 31.64%; EIGEN broke $1.6, with a 24-hour increase of 21.82%; REZ broke $0.018, with a 24-hour increase of 18.22%; SSV broke $11, with a 24-hour increase of 17.7%.
XRP Breakout Momentum Reaches Two-Month High, Target Price Set at $3!
The token has risen by 4% in the past 24 hours and 6% in the past week. Trading activity has rebounded sharply, with XRP's 24-hour spot trading volume reaching $10.83 billion, an increase of 193.5% compared to the previous trading day. According to Coinglass data, derivatives market trading volume surged by 237.27% to $19.4 billion, and open interest climbed by 13.55% to $5.23 billion. These figures indicate that more and more traders are entering the market and making larger bets on XRP's next moves. XRP once surpassed Tether (USDT) to become the third largest cryptocurrency by market capitalization. Santiment reports that a series of positive events have jointly driven the recent price surge of XRP.
According to the latest report from COINOTAG on May 13, the cryptocurrency market has seen significant movements. Since May 9, whale trader 0x5b5d has utilized $50.5 million USDC and 5x leverage to establish over $228 million in short positions on major cryptocurrencies like BTC, ETH, and SOL. This position has generated approximately $6.38 million in unrealized profits. Meanwhile, another notable entity, whale 0xB83D, has utilized $33 million USDC and 3x leverage to short a total of $92.1 million in BTC, ETH, and SOL, currently with unrealized profits of $220,000. These trends highlight the constantly changing dynamics within the cryptocurrency market and underscore the strategies employed by major participants under volatile market conditions.
Coinglass's latest data shows that in the context of ongoing volatility in the cryptocurrency market, Bitcoin's key liquidation threshold has been reached. As of May 13, analysts point out that if Bitcoin falls below the critical level of $100,000, the cumulative long liquidation pressure on major centralized exchanges could rise to approximately $319 million. Conversely, if Bitcoin breaks above the level of $104,000, short liquidation pressure could rise to about $354 million. It must be understood that these figures represent relative liquidity intensity, rather than exact contract numbers. The liquidation chart effectively indicates potential market reactions, with higher intensity bars indicating exacerbated liquidity shocks, thereby amplifying price fluctuations of the asset. Such insights are crucial for traders looking to navigate the complexities of cryptocurrency price dynamics and effectively manage risk exposure.
BlockBeats News, May 13, according to Cointelegraph, data analysis platform Alphractal pointed out that the slowdown in Bitcoin's upward momentum indicates that Bitcoin is approaching the resistance level of $106,000 and is retesting this range, increasing the risk of profit-taking by whales. Alphractal CEO Joao Wedson stated that from the chart, Bitcoin is currently nearing the "Alpha price" range, which is a position where long-term holders or large whales may choose to take profits. From a liquidation perspective, the risk of a "long squeeze" is also rising. If the price of Bitcoin falls to $100,000, it would trigger the liquidation of large leveraged long positions. This price range may attract the price, thereby leading to a retest of this key psychological level.
Bitcoin has recently rebounded past the important threshold of $100,000, marking a significant recovery three months after it fell below this level. Prior to this, the price of Bitcoin had dropped sharply by 32% from its historical high in January. This rebound has been primarily driven by favorable macroeconomic conditions, such as easing trade tensions and a more dovish stance from the Federal Reserve, reflecting a general shift in investor sentiment. Notably, over $920 million in ETF inflows in the past two weeks has propelled Bitcoin's market capitalization to unprecedented heights. Additionally, recent on-chain metrics show a decrease in the amount of Bitcoin held at a loss, with over 3 million BTC returning to profitability. With the continued increase in trading volume, Bitcoin's robust structural integrity has been strengthened, indicating that any short-term downturns may be quickly alleviated, thereby enhancing bullish momentum. Currently, the Federal Reserve is maintaining interest rates amid concerns about inflation and unemployment, posing a risk of stagflation. Fed Chair Jerome Powell has clearly expressed uncertainty about future economic conditions and emphasized the need for more data before taking any further policy intervention measures. Despite market speculation that the Fed might cut rates before July, the Fed remains vigilant, prioritizing price stability over rapid economic recovery. In terms of regulation, although obstacles remain, institutional interest in the cryptocurrency space is warming up. New Hampshire has taken proactive measures by enacting legislation that allows investments in cryptocurrencies and tangible assets, marking an important shift in the state's digital asset policy. Meanwhile, BlackRock has collaborated with the U.S. Securities and Exchange Commission (SEC) to enhance the regulation of cryptocurrency ETFs, advocating for collateral measures, with a particular focus on Ethereum-based products. This proactive approach by the SEC highlights its commitment to shaping the evolving digital asset landscape.