A previously dormant Ethereum (ETH) whale has reemerged, executing a substantial move as the crypto market faces a sharp decline. The whale, inactive for two years, withdrew 5,580 ETH worth $13.76 million from Coinbase, indicating a significant shift in its strategy.
The revived whale, known for earning over $31 million from ETH between Sept. 8, 2020, and March 9, 2022, resumed activity. This notable player in the crypto space is making waves again, impacting the market dynamics.
Ethereum whales, capitalizing on the recent market downturn, are leveraging the price drop to accumulate tokens at discounted rates. The withdrawal from Coinbase suggests a potential shift towards accumulation rather than immediate selling.
As cryptocurrencies experienced a dip, Bitcoin retraced to around $40,000, and Ethereum, previously surging, also saw a decline, dropping 1.25% to $2,484. The market's volatility provides opportunities for strategic players to navigate and make impactful moves.
Spotonchain reports another significant whale, with a total profit of $25.8 million from ETH, capitalizing on the market dip. This whale withdrew 3,600 ETH worth $8.84 million from Binance, strategically buying at a lower price during the market dip.
Ethereum developers rolled out the Dencun upgrade this week, featuring proto-danksharding (EIP-4844) on the Goerli testnet. The upgrade sets the stage for the projected deployment on the Ethereum mainnet in Q1 2024.
Developers Tim Beiko highlighted upcoming forks, with Sepolia forking on Jan. 30 and Holesky on Feb. 7. Beiko also hinted at an imminent announcement regarding client releases, encouraging the community to stay tuned.
Looking ahead, Paradigm anticipates the Prague hard fork on Ethereum testnets by Q3, 2024, with the mainnet deployment expected by year-end. The Ethereum community is bracing for further developments following the Dencun upgrade.
The reactivation of dormant whales and their strategic moves amidst market fluctuations underscore the dynamic nature of the crypto space. As Ethereum undergoes upgrades, the community eagerly awaits the unfolding of future developments.
PostFinance, a Swiss state-owned bank, has launched a staking service for Ethereum, allowing customers to earn passive income by staking their ETH. This move marks a significant step in Switzerland's banking sector, indicating a growing acceptance of digital assets despite cautious regulatory stances.
Weatherly52% of Americans have sold traditional investments like stocks and gold to buy Bitcoin, reflecting growing interest in digital assets. The crypto market is expanding rapidly, with younger generations leading the way and many expecting further growth in the coming years.
AnaisMelania Trump has entered the meme coin market with her own token, following President-elect Donald Trump’s crypto venture. TRUMP’s price briefly dipped before recovering, sparking speculation and insider trading allegations. Critics question the legitimacy of Trump’s crypto efforts and their broader impact.
CatherineTikTok will resume operations in the US after the President-elect pledged to restore access, proposing a 50% stake in the platform—despite previously attempting to ban it. The news has sparked widespread celebration on social media.
KikyoA South Korean man, Lee, was sentenced to four years in prison for leaking military secrets to North Korean hackers in exchange for 14 Bitcoins, worth around $480,000. This breach, involving the recruitment of a military officer to provide classified documents, raised serious national security concerns.
AnaisThe Ethereum Foundation is undergoing a leadership transition, with Vitalik Buterin outlining its key priorities and reaffirming its commitment to ethical principles while clarifying values it will not adopt.
CatherineRakuten's move into the mobile market has caused financial strain, but CEO Mikitani sees it as essential for the company's future growth, especially with AI integration. Despite losses, Rakuten is expanding its mobile network and focusing on AI-driven services to boost its e-commerce and other sectors.
WeatherlySouth Korea's film industry is embracing AI technology to restore and create films, with "Leafie, a Hen into the Wild" being remastered into 4K using AI tools. Additionally, AI-generated films like "It’s Me, Mun-hee" and "M Hotel" are pushing the boundaries of digital filmmaking, though the technology raises debates about the realism of AI characters.
WeatherlyBitcoin has hit a new all-time high of $109,000, driven by optimism ahead of President-elect Trump’s 20 January inauguration. As speculation grows over potential crypto-friendly policies, the question remains—can Bitcoin sustain its momentum and climb even higher?
KikyoPublic Investment Bank Bhd predicts that President-elect Trump’s administration is unlikely to fully reverse Biden’s AI chip export restrictions and computing capacity limits. As Biden’s term ends, could these measures be a strategic parting move with lasting implications for the tech landscape?
Catherine
