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The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
XRP price is down today, like other top crypto assets, as traders anticipate a Federal Reserve rate hike this week.
One token zoomed 1,200% even though its related project closed in May, data shows.
Bitcoin whales account for the most exchange inflows volumewise since June 2022 as short-term holders become increasingly active.
The highly anticipated project co-founded by OpenAI's Sam Altman launched its token on Monday.
The spot market is in the driver's seat as perpetual futures open interest to market cap ratio remains low, one observer said.
Launch of the token comes alongside protocol launch and prior release of the wallet.
- 08:52THORChain plans to tackle $200 million debt crisis with publish equity stake tokenOn February 3rd, according to reports, THORChain governance has passed a restructuring plan proposal, which plans to publish a new token named TCY (Thorchain Yield) with nearly $200 million of default debt converted into equity stake. The proposal includes minting 200 million TCY tokens and allocating 1 TCY token per dollar of default debt. The core team is expected to create a RUNE/TCY liquidity pool, providing $500,000 of liquidity, with TCY priced at $0.1 each, which will be supported by $5 million of treasury funds. TCY token holders have the right to permanently receive 10% of THORChain's revenue. Earlier, THORChain announced the launch of a 90-day restructuring plan to suspend THORFi lending and savings redemptions.
- 08:52DWF Labs partner: Prepare to gradually buy, pay attention to the reaction of US stocksOn February 3rd, Andrei Grachev, a partner at DWF Labs, stated on social media that he is preparing to gradually buy and "should wait a few more hours to see how the US stock market reacts. Everything is very dangerous now, be careful and DYOR."
- 08:51Whale "7Siblings" another address bought a total of 5382 ETH, today bought a total of 126 million USD ETHOn February 3rd, according to Lookonchain monitoring, another wallet of "7 Siblings" purchased 5,382 ETH ($14.5 million). Therefore, 7 Siblings has purchased a total of 50,429 ETH ($126 million) today. The last time 7 Siblings bought a large amount of ETH at the bottom was on August 6th, 2024, when the market crashed.