Updated Mar 8, 2024, 8:29 p.m. Published Jan 25, 2024, 2:58 p.m.
6 min read
Magnus Resch argues in his latest book NFTs could reshape how art markets operate, and potentially bring in new buyers. (Phaidon)Magnus Resch has been called many things: an art collector, a storyteller and at least once, by CNN, “the world's leading art market economist." He’s run galleries, taught in the Ivy League and has tried to quantify the often opaque world of art collecting.
In his new book, “How to Collect Art,” which will be published by Phaidon in February, Resch tries to give an objective answer to the very subjective question of what artworks are right for me? Beyond the mantra of “buy what you like,” Resch attempts to offer a systemic approach to actually turning a profit by collecting.
Resch writes there is a lack of art buyers. (Phaidon)Some of the advice is obvious, like researching and classifying the artists, galleries, art fairs, auction houses and rival collectors that create the market. Other lessons can only be learned by sifting through mountains of data or forming personal connections with artists and curators.
It turns out, it’s easy to overpay for work in an industry that can find value in a scribble if scribbled the right way. Nowhere is this more evident than in the world of non-fungible tokens (NFTs), which has been dominated by cartoon figures (typically animals) meant to be used as social media avatars.
While Resch does not see many NFT projects, rocked by the market downturn, rebounding, he does believe the technology itself will profoundly reshape how the art market economy functions. “[I]nformation on provenance will become clearer and more accessible, eliminating much of the historical mystique that the art industry has, to some extent, fostered,” he writes.
That’s important considering some of Resch’s earlier research, analyzing sales information from nearly half a million artists around the world, which found there is a “network of interconnected galleries and museums” that essentially determines whether an artist succeeds in their lifetime. NFTs help by allowing artists to form closer relationships with collectors, breaking down barriers and making it easier for interested collectors to enter the market.
See also: Magnus Resch — The Art World Underestimates the Power of NFTs | Opinion
“The opacity of the art market benefits a tiny elite of collectors, gallerists and artists, but makes it harder for most artists and art lovers to connect,” he wrote.
CoinDesk spoke with Resch about the biggest lessons for people looking to get into art collecting, how new technologies like blockchain are changing the practice and why he thinks the biggest problem in the contemporary art scene is a lack of buyers. The interview has been lightly edited and condensed.
Do you expect the NFT market to bounce back? And if so, in what ways – will it be driven by the launch of new projects or is there hope for NFTs that have dropped to $0?
I expect that most NFTs will retain their current status, which is often significantly lower than during the peak of their hype. Historically, digital art has not played a significant role in the art market and is unlikely to surpass paintings as the primary medium dominating the market. Nevertheless, five to 10 digital artists, such as Refik Anadol, will continue to be relevant, as they have successfully integrated themselves into the traditional art market and its institutions.
What are the primary insights that your book offers to aspiring art collectors?
It's twofold: My book helps you identify artists that suit your preferences. For instance, if you are buying for investment reasons, I provide guidance on how to identify artists with investment potential. Secondly, it provides insights into how the mysterious art market truly operates, guiding you on which galleries to buy from, which curators to follow, which fairs to visit — so you never overpay. In essence, the aim is to transform you into an informed and discerning buyer.
How do you perceive the current obstacles faced by the art market?
The art market has been grappling with a shortage of new buyers for an extended period. Despite the global number of millionaires doubling in the last decade and a surge in attendance at art events, the value of the art market has remained stable. This disparity underscores a conversion problem, as the newly affluent are not seamlessly transitioning into art buyers. I believe a combination of education, entertainment and transparency can play a pivotal role in converting more art enthusiasts into active buyers. My new book is a contribution towards this goal, and I've observed similar initiatives emerging from galleries, museums and auction houses. An increase in the number of buyers is crucial for supporting the endeavors of artists, gallerists, advisors, and museums in the art world.
Digital art is poised to play a more substantial role in the future, and there is hope that it will gain increased representation in museums and established art institutionsWhat lessons can the art market draw from the NFT hype in 2021, and what enduring effects remain?
The three key takeaways are: Firstly, artists have the capability to build their own following and cater to these buyers. Secondly, a larger market with increased liquidity is created through price transparency, verifiable provenance and low transaction costs. Thirdly, traditional art institutions still maintain value and won't disappear.
Similarly, what won't be repeated by the NFT space following the market collapse? (i.e. lessons learned?)
Being an artist is challenging. Lasting value is primarily established when works are showcased in reputable institutions. The physical presence still holds importance for digital art. To succeed as a digital artist, it still requires the endorsement and support from established traditional institutions.
Where do you anticipate the trajectory of the art market, and what significance do NFTs hold in shaping it?
The introduction of blockchain technology and the various ways of using it has the potential to change the art market in a way that could not be accomplished otherwise. The convergence of digital art, crypto money and blockchain technology will bring about a profound structural shift in the art ecosystem. Collectors won’t buy if a work is not registered on the blockchain. Artists will exert more control over their work and earn royalties from resales. More collectors will populate a transparent market. And the art market will become more regulated — for the better. This won't happen immediately, and initially, other luxury industries need to adopt it. The art market usually follows rather than taking the lead as a first mover.
The art market is rife with money laundering. Do you expect the same to metastasize in NFTs?
It's important to dispel this misperception: While, like any other industry, there may be criminal elements, it's crucial to recognize that such instances are not representative of the entire art market. Instances of money laundering are present across various sectors, and the art market is not uniquely prone to this issue. Additionally, these occurrences primarily impact the top end of the market, involving less than 0.1% of all exhibiting artists.
Personal favorite artists working with NFTs?
Kevin Abosch, Operator, Refik Anadol, Claudia Hart, Vera Molnár, Sasha Stiles, IX Shells
See also: What You Own When You Own an NFT
Should "crypto art" be considered a unified category? As distinct from other fine arts?
Certainly not. In the past, when photography and video emerged in the art market, they faced challenges in being recognized as part of the traditional art landscape. Similarly, digital art is poised to play a more substantial role in the future, and there is hope that it will gain increased representation in museums and established art institutions. The Buffalo AKG Art Museum, for instance, is leading the way in this movement. Distinguishing "crypto art" from "fine art" could spark an unnecessary debate about defining crypto art. In my perspective, it is simply art.
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Data suggests users on Reddit were calling to buy the recent Bitcoin dip while other social media platforms were either bearish or indecisive.
Bitcoin Social Volume Reveals How Different Social Media Platforms Reacted To Dip According to data from the analytics firm Santiment, the different major social media platforms have been split on how to react to the recent price action in the cryptocurrency.
The indicator of interest here is the “social volume,” which keeps track of the total unique amount of posts that make mentions of a specific topic or term on a given social media platform or group of platforms.
This metric tracks the number of posts/threads/messages rather than the mentions themselves, as the latter methodology can provide an inaccurate representation of the actual amount of discussion taking place related to the topic.
This is naturally due to the fact that sometimes discussion around a topic can be limited to a couple of threads, but with each of them making a considerable amount of mentions.
This trend is obviously not representative of what the wider community thinks, as only the users participating in these threads are interested in the topic. Thus, counting the posts makes more sense, as this number would only go up when there is genuine interest across the platform.
Now, what Santiment has done here is that it has filtered the social volume related to Bitcoin/cryptocurrency for bearish and bullish terms for each of these four major social media platforms: Telegram, Reddit, 4Chan, and X (formerly Twitter).
Here is a chart that shows the trend in these social volumes for all these websites:
How the different social media userbases reacted to the dip | Source: Santiment on X The bullish terms chosen by the analytics firm here are keywords like buy, bottom, and bullish. Similarly, the keywords related to bearish sentiment are sell, top, and bearish.
From the graph, it’s visible that during the recent Bitcoin plunge towards the $38,500 level, the Telegram users were mostly bearish as the social volume for terms pertaining to this mentality spiked. X users had also turned bearish, although the bullish social volume wasn’t much lower.
4Channers had seemed completely split on the trajectory of the asset, as both the social volumes were at about the same levels for the platform. Redditors appear to have been on the other end of the spectrum from Telegram and X users, as calls for buying the dip had spiked on the platform.
So far, the bets of the Redditors would have paid off, as BTC has made some recovery since the dip that they made potential buying moves at, although the scale of the surge has so far not been too much.
Historically, Bitcoin has tended to move against the expectations of the majority. Since these platforms are all split on the direction of the coin, it’s hard to say anything about where BTC would go based on the sentiment alone.
“When Telegram, Reddit, X, and 4Chan are all in an extreme level of bullish or bearish sentiment, this is the ideal time to be a contrarian and go against the crowd’s uniform presumptions about the markets,” explains Santiment.
BTC Price At the time of writing, Bitcoin is floating around the $40,200 level, down more than 5% over the past week.
Looks like the price of the coin has made some recovery in the last couple of days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net
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CryptoQuant analyst MAC_D in a new report, suggested that a sharp decline in Bitcoin‘s (BTC) price and funding rates could present a buying opportunity that might increase the cryptocurrency’s value.
Leveraged Trades in BitcoinThe senior analyst argued that following investors piling into leveraged long positions, the token’s funding rates soared to a high level of 0.049% on January 2nd. This occurred while the market was anticipating the decision of the U.S. Securities and Exchange Commission on the BTC Spot ETF.
According to data from 21milyon.com, when the article was written, BTC’s funding rate was 0.001%. Therefore, despite the token’s recent price movement, the market continued to show a bullish trend. According to MAC_D, for the current downtrend to end, a capitulation event that results in the mass liquidation of these long positions needs to occur. The analyst stated the following in his remarks:
If there are sharp price drops and the funding rate turns negative on the 1-hour chart, it could mean that leveraged investors are overly pessimistic about the market, which could be a good opportunity to buy back BTC.
Funding Rate in BTCThis could mean that two things need to happen for BTC to witness an upward price correction. A sharp decline in the value of the cryptocurrency and a negative funding rate on the 1-hour chart could lead to significant pessimism among leveraged investors, yet offer a potential buying opportunity for those with a longer-term investment horizon. At the time of writing, BTC was trading at $39,956. According to data from CoinMarketCap, since the BTC ETFs started trading on January 10th, the token’s value has dropped by 13%.
The mentioned price drop could be due to an increase in profit-taking activity, which led to an increase in the token’s exchange reserves. Since January 10th, the total number of BTC held on exchanges increased by 0.47%. According to CryptoQuant, at the time of writing, there were 2.1 million BTC on exchanges. As token sales increased, the profitability of daily BTC transactions also decreased. According to Santiment data, since January 10th, the daily profit/loss ratio of BTC transaction volume has dropped by 10%.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ethereum price managed to hold the $2,200 support as the crypto market downturn intensified this week, on-chain signals highlight rising whale demand.
On Jan. 22, the crypto market suffered significant bearish headwinds as Bitcoin (BTC) prices wobbled below $40,000 for the first time in 50 days. At press time on Jan. 25, the global crypto market capitalization has shrunk 7%, with $108.5 billion in valuation wiped out within the weekly timeframe.
Ethereum (ETH) vs. Crypto Market Cap Performance | Source: TradingView Losing 5% in Ethereum (ETH) price has maintained a relatively more resilient performance than the industry average between Jan. 22 and Jan. 24.
Ethereum whale activity remains high despite downtrend Ethereum price has managed to keep losses below the 5% threshold this week, while Bitcoin and the global crypto market cap shrunk by up to 7%, respectively, before making a mild rebound. On-chain data trends suggest that the rising level of whale trading activity recorded on the Ethereum network this week has been pivotal to ETH’s resilient price performance.
Santiment’s Whale transaction count metric tracks the daily number of transactions involving a particular cryptocurrency that exceeds $100,000.
On Jan. 23, the Ethereum Whale Transaction Count surged above 1,190. A closer look at the chart below shows this was the highest recorded since the ETH price raced to a 20-month peak of $2,690 on Jan. 11.
Ethereum (ETH) Price vs. Whale Transaction Count | Source: Santiment Corporate entities accumulate ETH at significantly high volumes despite the broader market retreat. This could be attributed to investors and fund sponsors looking to acquire Ethereum ahead of a looming ETH spot ETF verdict.
During market downtrends, an increase in whale transactions impacts the price of a crypto asset positively in two major ways. Firstly, it provides market liquidity, enabling bearish panic sellers to execute their trades at favorable prices. It also reinforces confidence among small-scale retail traders.
These factors have played a vital role as ETH battles to hold above the $2,200 support level amid market-wide sell-offs this week.
Ethereum investors opt for long-term storage Furthermore, Ethereum has also recorded a steady decline in exchange reserves this week, which could be linked to the rise in whale activity.
Corporate entities and whales are known to be value investors who tend to hold for longer periods. Unsurprisingly, the rising volumes of whale transactions on the Ethereum network in recent months have coincided with a rapid decline in supply deposited on exchanges.
At the start of the week on Jan. 22, Ethereum supply on exchanges stood at 10.5 million ETH. But interestingly, that figure has dropped sharply to 10.4 ETH by Jan. 25.
Effectively, this means that investors have shifted 150,000 ETH worth approximately $330 million from exchanges and trading platforms into long-term storage or staking contracts.
Ethereum (ETH) Supply on Exchanges vs. Price | Source: Santiment Despite bearish headwinds, Ethereum Supply on Exchanges dropped by 150,000 ETH in the last four days, signaling a dominant preference for long-term holding and passive income staking among current holders.
Notably, Ethereum exchange supply has been in a downtrend since the Proof of Stake (PoS) transition in May 2023, a move that has coincided with an extended period of price uptrend.
ETH price prediction: Can Ethereum Price Stay Above $2,000? As the downward trend in exchange supply persists, fewer ETH coins are readily available to be traded in spot markets. This appears to have decelerated the selling pressure on Ethereum this week relative to the broader altcoins market. Combined with the steady rise in whale transactions, Ethereum price is in a prime position to defend the $2,000 territory.
IntoTheBlock’s in/out of the money around price data, which groups all existing ETH holders by their entry prices, also affirms this stance.
It shows that 8.3 million addresses, the largest cluster of ETH holders, had acquired 46.5 million ETH at the maximum price of $2,078. If Ethereum price slides toward $2,100, many of these holders could make frantic covering purchases to defend their positions to avoid slipping into net-loss positions. This could effectively trigger an instant Ethereum price rebound.
Ethereum (ETH) Price Forecast, Jan 2024 | Source: IntoTheBlock On the upside, Ethereum bulls could overturn the bearish pressure if it reclaims the $2,500 territory. But this looks unlikely within the current market dynamics. As seen above, a significant cluster of 3.7 million addresses had acquired 7.1 million ETH at an average price of $2,400.
If they engage in mild profit-taking as prices hit their break-even point, Ethereum could slide into another correction phase.
Home ›Best Stocks Dividends provide a steady return stream. Set and forget dividends stocks for risk-averse investors.
Tim Fries Tim Fries is the cofounder of
Jan 26, 2024 4 min read
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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
For companies to elicit support from investors, being successful is just the first step. Companies with a proven track record of paying and raising dividends over the years elicit the most vital shareholder loyalty.
This is especially noteworthy if they can power through economic downturns without cutting dividend payouts. Here are three dividend stocks under $50 per share that fit the bill in 2024 and beyond.
Verizon Communications, Inc. (NASDAQ: VZ) 6.72% dividend yield, annual $2.66 per share
There are few investment thesis as clear as Verizon. Telecommunications power modern civilization. And the infrastructure supplier for that need gets to receive stable recurrent profits.
Per the Q4 2023 earnings report, Verizon is ahead of schedule to gain 4 – 5 million subscribers by the end of 2025. The quarter brought 413,000 net broadband subscribers, making it the fifth consecutive quarter with over 400k net additions.
The company broadened its wireless service revenue by 3.2% year-over-year to $19.4 billion. For the sector, Verizon achieved 1,460,000 retail postpaid net additions. Although Verizon’s full-year operating revenue of $134 billion is down 2.1% compared to 2022, its cash flow increased by 1% to $37.5 billion.
Verizon’s free cash flow is up 32.6% to $18.7 billion compared to FY 2022. Due to the higher interest rate environment that is heading for cuts this year, Verizon’s adjusted EPS is $4.71 compared to the full-year EPS for 2022, which is $5.18.
Based on 22 analyst inputs pulled by Nasdaq, VZ stock is a “buy.” The average VZ price target is $41.64 vs the current $42.32. The high estimate is $47, while the low forecast is $31 per share.
Altria Group, Inc. (NASDAQ: MO) 9.68% dividend yield, annual $3.92 per share
Despite a negative reputation, tobacco companies have a large and loyal customer base. According to WHO, there are 1.25 billion tobacco users, and their numbers are not likely to decline to under one billion during the decade. Tobacco companies have a large and loyal customer base despite a negative reputation
In addition to owning iconic smokeable brands like Marlboro and Camel, Altria multinational expanded to smokeless products and e-cigarettes, such as IQOS and MarkTen. Altria has mastered the economy of scale, marketing, and distribution as one of the top tobacco companies.
The company is yet to deliver its Q4 2023 earnings report on February 1st. In prior Q3 earnings, Altria’s full-year guidance was set to a 1.5% – 3% earnings per share (EPS) growth rate, from 2022’s $4.84 to the EPS range of $4.91 – $4.98 per share.
In the quarter, Altria repurchased $260 million worth of shares at an average price of $44.26. Based on 13 analyst inputs pulled by Nasdaq, MO stock is a “buy. ” The average MO price target is $43.59 vs. the current $40.31. The high estimate is $50, while the low forecast is $36.1 per share.
Wells Fargo & Company (NASDAQ: WFC) 2.88% dividend yield, annual $1.40 per share
Although on the lower dividend yield side than the others, this Global Systemically Important Bank (G-SIB) is one of the safest bets. On January 18th, Bloomberg reported that the Office of the Comptroller of the Currency (OCC), Federal Reserve, and Federal Deposit Insurance Corp. (FDIC) are crafting a plan to require banks to access the Fed’s discount window.
By proactively demanding the Fed’s discount window use, the central bank has greater space to prevent a financial crisis. After all, Fed Governor Neel Kashkari once noted that “there is an infinite amount of cash at the Federal Reserve.”
As covered in January, Wells Fargo is a solid banking stock on its own. It netted $3.48 billion in income, a 3.45% YoY uptick. Based on 21 analyst inputs pulled by Nasdaq, WFC stock is a “buy.”
The average WFC price target is $54.39 vs. the current $48.67. The high estimate (12 months ahead) is $66, while the low forecast is $50.27 per share.
Do you favor individual stocks or ETFs as market exposure? Let us know in the comments below.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
Tim Fries Author · Tokenist
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
Toncoin (TON) and Ripple (XRP) both digital currencies have experienced downtime and in today’s market declined. Toncoin (TON) witnessed a 0.56% downward spiral and Ripple (XRP) had a 1.40% increase. On the other hand Pushd (PUSHD) has become an alternative for investors who are seeking to buy into new coins with potential. Pushd (PUSHD) basic utilities stand the token out from others. With a debit card that allows users to spend on their funds revenue fees for presale investors proportional to their holdings, swap services, a reward program, decentralized governance and a VIP program Pushd (PUSHD) has become investors favorite.
Toncoin (TON) price has declined leaving the coin trading at $2.09 with a trading volume of $27,904,315 and Ripple is at $0.5025 with a 24 hour trading volume of $845,853,957. While Toncoin (TON) and Ripple (XRP) pose a market danger there could be some positivity in their price action in the future. The crypto market is highly volatile and external or internal forces could boost Toncoin (TON) and Ripple (XRP) in the future. As a future market blue chip crypto Pushd (PUSHD) shows a positive market future in the coming bullish market.
Will Toncoin (TON) Ever Stay Stable in the Crypto Market?In November 2021 Toncoin spiked past $4 but in January 2024 it’s trading at half of its 2021 market price. Toncoin (TON) market run has always shown inconsistencies and could ruin investors who are not good market experts. The coin went below $1 in the mid year of 2022 before rising to $2.40. Throughout 2023 the token navigated around $2 to $3 going through bearish and bullish trends.
Five days ago Toncoin (TON) witnessed a 5% loss leaving the coin at a 6% loss in 7 days. Toncoin (TON) against its peers has been underperforming. The Q4 of 2023 saw the coin in the top ten of cryptocurrency market capitalization which is lower than it’s currently at 14.
Despite a Successful SEC Win Ripple (XRP) is Still on a Downward SpiralAnalysts believe that there is a turnaround for Ripple (XRP) but holders and investors are looking for quick profits. Ripple (XRP) began 2024 bearish, plummeting in its market chart. The token is ranked 6th by market cap but it doesn’t seem like the market cap is enough to get the coin out of its bearish zone despite its dedicated community.
After its partial SEC victory Ripple (XRP) has yet to recover posting a 16% loss in the past month and underperforming in terms of returns on investment. Rippe’s (XRP) downward trend has cost the coin its place in the top five cryptos in terms of size leaving its 5th position for Solana (SOL) and now ranked 6th.
Pushd (PUSHD) Buying Rave is Not Letting DownPushd (PUSHD) market expectations are looking better than Toncoin (TON) and Ripple (XRP). Investors are taking advantage of Pushd (PUSHD) market price in its presales stage which is situated at $0.075. Pushd (PUSHD) offers rewards that are user centric like governance rights and platform shares.
In the $6 trillion crypto world Pushd (PUSHD) brings an innovative idea that offers not just a short term goal but also a long term one. Pushd (PUSHD) is built in a way that allows investors market activities to be fast and easy.
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Disclaimer: This article is a press release. COINTURK NEWS is not responsible for any damage or loss related to any product or service mentioned in this article. COINTURK NEWS recommends that readers carefully research the company mentioned in the article.
Thanks to a generous airdrop campaign, a Solana (CRYPTO: SOL) memecoin called Wen (CRYPTO: WEN) exploded to more than $150 million in market capitalization within the first three days of trading.
What Happened: Wen is currently being airdropped to over a million users, with the claim window open to users on Solana's Jupiter (CRYPTO: JUP) exchange, Solana Saga phone owners and owners of certain Solana-based NFT projects until the morning of Jan.30.
At the time of writing, 59% of the airdrop has been claimed, based on Dune data.
The WEN airdrop follows Solana's biggest decentralized exchange aggregator, Jupiter, planning an airdrop of JUP tokens on Jan. 31. The token’s first airdrop is open to 955,000 eligible users who met the $1,000 swap volume requirement by the snapshot date in November 2023.
Why It Matters: In the first three days of trading, Wen’s market cap of $150.9 million has already managed to surpass another Solana memecoin, Myro (CRYPTO: MYRO), which has a market cap of $132 million.
Crypto market analyst Julius Elum tweeted, “I'm considering adding $WEN as the Solana top meme into my Top 10 meme holding.”
He noted the pump was "mad," and the community was "growing massively."
Also Read: This Is Solana's New Dogcoin Superstar: From Zero To Over $100M Market Cap In 60 Days
Rags To Riches: Lookonchain data reported a trader who accumulated more than $1.6 million in gains after jumping on the Wen bandwagon. Immediately after Wen opened for trading, the unknown trader spent 125,500 USDC to buy 20 billion Wen and later sold 12.5 billion Wen for 807,000 USDC leading to a profit of $682,000.
Cryptocurrency traders are keeping a close eye on the Bitcoin market as a potential “bargain-buying” window opens up ahead of the upcoming Bitcoin halving, scheduled for April. Prominent pseudonymous crypto trader Rekt Capital has outlined a five-stage market pattern, signaling that investors may have just two weeks to make the most of favorable prices before a pre-halving rally begins.
Bitcoin halving: A catalyst for bullish sentiment The Bitcoin halving occurs approximately every four years and involves cutting mining rewards in half for miners. This event has historically been regarded as a bullish catalyst for Bitcoin’s price.
Rekt Capital highlights that the previous Bitcoin halvings have been characterized by steep price dips in the months leading up to the event, ultimately generating substantial returns for investors. The upcoming halving in 2024 appears to be following this historical pattern.
Rekt Capital points out that Bitcoin has already undergone an approximately 18% retracement in January, suggesting that there is currently a two-week window during which Bitcoin may undergo another significant pullback. According to the trader, this period could represent one of the final opportunities for investors to buy Bitcoin at attractive prices before the pre-halving rally begins.
#BTC
5 Phases of The Bitcoin Halving
1. Pre-Halving period
Approximately 77 days remain until the Bitcoin Halving in April 2024
Historically, any deeper retraces that occur during this orange period tend to generate fantastic Return On Investment for investors in the several… pic.twitter.com/8JC8qX2IVm
— Rekt Capital (@rektcapital) January 29, 2024 Pre-halving rally phase Following this potential short-term pullback, Bitcoin typically enters what Rekt Capital terms the “pre-halving rally” phase approximately 60 days before the halving event. During this phase, short-term traders aim to capitalize on the growing anticipation and “buy the hype” leading up to the halving. However, as the halving date approaches, a “sell the news” sentiment tends to set in, often occurring one to three weeks before the halving.
In the previous two Bitcoin halvings, Rekt Capital notes that a significant price dip occurred during the weeks preceding the halving. 2016, there was a 38% price dip, while in 2020, a 20% drawdown was observed. This pre-halving retrace is common as traders take profits, resulting in a temporary price decline.
Post-halving : Sideways price action Once the halving event has successfully transpired, Bitcoin enters a relatively “boring” phase characterized by sideways price action. This period can last an average of 150 days, often disappointing investors who expected immediate price surges following the halving. Many investors get “shaken out” during this time due to the lack of significant price movements.
Finally, Rekt Capital highlights the “parabolic uptrend” phase that follows months of accumulation and sideways trading. Bitcoin experiences accelerated growth during this phase and often reaches new all-time highs.
While Rekt Capital emphasizes the importance of the halving in shaping Bitcoin’s price action, not all experts agree. Some argue that the impact of halving on price is diminishing, with other factors taking precedence.
Ralph Zagury, Chief Investment Officer of Swan Bitcoin, suggests that liquidity is more integral in influencing Bitcoin’s price in 2024. He contends that flows and market dynamics are the primary drivers of price, rendering the halving less impactful than previously thought.
If you are looking to buy Toncoin (TON), the native cryptocurrency of “The Open Network”, the present blog post assists you in the process. Before learning the platforms where you can buy Toncoin, you need to learn the multiple ways of buying it. Here, we cover everything from the ways of buying TON to the platforms that support buying TON in detail.
Let us first go through the Toncoin in brief in case you are new to this cryptocurrency, before walking you through various platforms to buy Toncoins in 2024.
Toncoin Overview Toncoin or TON is the cryptocurrency of layer1 blockchain called “The Open Network”. Similar to multiple other blockchains, Toncoin works based on the Proof-of-Stake (PoS) consensus mechanism to save resources.
The blockchain network underlying the Toncoin was originally developed by Telegram social media platform in 2018. “Telegram Open Network” was the initial name of the blockchain and “Gram” cryptocurrency was supposed to be the native crypto of it.
However, the developer team from Telegram abandoned the project when it faced trouble from the US Securities and Exchange Commission. The SEC considered Gram tokens securities, which eventually caused the token to stop circulating in the market.
Even though the Telegram team gave the network a full-fledged form, they left the project and handed it over to supporters and independent crypto enthusiasts. The new group of people formed the TON Foundation, which currently runs the Toncoin project.
“The Open Network” is a best-suitable platform for developing decentralized applications (dApps) and for making digital transactions at high speeds. The less-energy consuming nature of its PoS mechanism combined with its high performance capabilities make The Open Network one of the noteworthy projects in the industry.
Where Can I Buy Toncoin? When it comes to buying Toncoins, there are numerous platforms. Here, we will discuss all of them to help you find the platform that is convenient for you.
Centralized Exchanges Centralized crypto exchanges (CEXs) are the best places to get started with buying any cryptocurrencies. They offer simple-to-use interfaces and lowest possible fees and play a great role in introducing cryptocurrencies to new audiences. If you are also new to the crypto space, then centralized exchanges are the right choice for you to buy Toncoins.
Popular crypto exchange platforms such as OKX, KuCoin, and Bybit allow you to buy and sell Toncoins. You can choose either of the platforms and create an account to start buying Toncoins. MEXC Global, Huobi, BitMart, LBANK, BingX are few other centralized crypto exchanges that also help you interact with Toncoins.
However, it is important to consider the supported payment methods of a centralized exchange before choosing it and creating an account. Most of the CEXs support bank transfers, credit and debit card payments. But, you need to make sure whether your preferred fiat currency and the payment method is supported by the platform.
Decentralized Exchanges While centralized exchanges are best for user-friendliness, decentralized exchanges (DEXs) are preferred to have complete control over your assets.
If you are more into DEXs and would like to buy Toncoins on a decentralized platform, there are two types of DEXs. You can either use Ton-native DEX platforms like Megaton, DeDust, and STON.fi or you can also go for renowned DEXs like Uniswap, PancakeSwap, and 1inch.
When you choose to buy TON on DEX platforms, having stablecoins in your wallet is necessary. Stablecoins like USDC and USDT help you make the process of buying smooth. Additionally, Uniswap and PancakeSwap support BTC and ETH as well apart from stablecoins.
Crypto Swapping Platforms Crypto swapping sites have emerged in the last few years to serve the growing demand of crypto investment. Several popular crypto swapping platforms like Changelly, ChangeNOW, and SimpleSwap help you exchange USDC, USDT, BTC, ETH coins with Toncoins.
Even though the process of acquiring TON is similar in CEXs and crypto swapping sites, there is a difference in how they enable the purchase. Crypto swapping sites only allow you to convert one crypto into another and enable swaps within a few minutes.
Telegram Bots Apart from the above platforms, Telegram bots also help you buy TON in a simple manner. While CEXs allow you to buy TON with different payment methods, DEXs use liquidity pools to ensure buying and selling of tokens. However, when it comes to Telegram bots, a new process of buying called peer-to-peer trading comes into picture.
CryptoBot, TON Rocket, and @wallet are the top Telegram bots that help you buy Toncoins in a peer-to-peer market. In this process, you will connect with a seller and you both will agree on the fiat currency and payment method. When the payment is done, the seller will transfer Toncoins to your wallet.
However, this is a risky method to follow because it could involve counterparty issues. So, you must choose how and where to buy Toncoins wisely after a thorough research and understanding of the pros and cons to avoid the risks. A thorough research and awareness of the security and reliability of the platform is essential before investing funds and buying Toncoins.
Binance, a leading cryptocurrency exchange, announced the delisting of six altcoins—PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF), and VGX Token (VGX). This led to sharp price drops for each token.
Starting August 26, 2024, at 03:00 UTC, Binance will halt all spot trading for these tokens and cancel any existing orders.
Deposits for these altcoins will not be accepted after August 27, 2024, but withdrawals will be allowed until November 26, 2024. Binance may later convert these tokens into stablecoins, though this is not guaranteed.
Additionally, Binance will automatically convert 15 previously delisted altcoins into the USDC stablecoin based on user holdings as of September 2, 2024, to provide a stable value.
These altcoins include Bitcoin Gold (BTG), Bitcoin Standard Hashrate Token (BTCST), Bitshares (BTS), District0x (DNT), Groestlcoin (GRS), Hegic (HEGIC), MobileCoin (MOB), Monero (XMR), Monetha (MTH), Multichain (MULTI), Navcoin (NAV), Sologenic (SOLO), Spartan Protocol (SPARTA), Symbol (XYM), and Tribe (TRIBE).
IMPT, the blockchain-powered carbon-offset ecosystem, is preparing for a major global breakout. With over 7 million hotels, 25,000 retail partners, and 100 major airlines already integrated, IMPT is positioning itself as one of the most ambitious sustainability-driven crypto projects on the market today.
The project was recently selected for the Google Accelerator Program, further validating its potential to scale on a global level.
Now, IMPT is entering a new phase: a global marketing blitz launching this week. The campaign is designed to put IMPT in front of millions of new users across travel, retail, and e-commerce — unlocking a powerful new wave of adoption.
“We’ve built the foundation. Now it’s time to show the world what IMPT can do,” said [Mike English/CTO]. “Every hotel booking, every retail purchase, every airline ticket bought through IMPT drives real carbon offsetting while increasing token utility. It’s a model designed for both global impact and investor growth.”
Why IMPT Matters
7 Million Hotels – full global OTA-style coverage 25,000 Retail Partners – including major global brands 100 Airlines – integrated directly into the ecosystem Listed on 4 Major Exchanges – Bitmart, Gate, Coin Store, and LBank Google Accelerator Selected – recognition from one of the world’s leading tech programs Token Utility: Deflationary by Design
Every transaction on the platform triggers a token burn, reducing circulating supply and strengthening long-term price support. This deflationary mechanism ensures that as adoption grows, demand increases while supply shrinks — a model designed to reward early adopters.
How to Get Involved
IMPT is available globally:
Visit www.impt.io
Search IMPT in any app store
Trade on Bitmart, Gate, Coinstore, or LBank
Join the IMPT community on Telegram
About IMPT
IMPT is a blockchain-powered platform that enables users to make everyday purchases while directly contributing to carbon offsetting. By integrating with global retailers, airlines, and travel providers, IMPT turns ordinary transactions into measurable environmental impact — while powering a deflationary crypto token economy.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Earliest signs of an altcoin season are emerging, analysts say.Many big cap coins have enjoyed triple digit gains.Past cycles offer a guide of what's to come.Forget Christmas. Altseason is upon us.
Altseason is a period when interest – and prices – surge for cryptocurrencies other than Bitcoin.
In the 2017 bull cycle, for instance, alternative cryptocurrencies multiplied in value thousands of times within a few short months, triggering a shower of riches for newly minted investors in the space.
Now, with the value of the OTHERS altcoin index soaring 76% since early November, to $334 billion, a new golden age appears to be dawning for Bitcoin’s offspring.
“It’s far from a nothingburger, we’re on the brink of a full-blown altseason,” Matthew Mena, head of US crypto research at 21.co, told DL News.
Dino coinsWhile sceptics may doubt altcoins are poised to soar for a sustained period of time, Mena said positive signs are already emerging.
This year, a number of “dino” coins from the 2017 era have already jumped triple digits.
XRP, the coin associated with Ripple, is up 177% in the past 30 days, and Dogecoin, the memecoin stalwart, climbed 140% in the same timeframe. Cardano, meanwhile, spiked 186% in the past month, according to CoinGecko.
Even Axie Infinity, the blockchain game play that’s long been out of favour, is delivering a 43% return to holders of AXS over the last 14 days.
“On top of that, laggards like Ethereum are breaking key resistance levels,” Mena said.
‘The usual crypto bro cycling out of Bitcoin and into alts will look differently.’
— Christopher Inks, TexasWest CapitalOn Tuesday, the second most valuable cryptocurrency crossed the $3,600 mark for the first time since mid June. Many say a trip to $10,000 is just around the corner.
Alex Kruger, a macro analyst, agrees with Mena’s analysis, to a point.
Michael Saylor’s billion-dollar purchases of Bitcoin “gives oxygen to crypto natives to go gamble,” he told DL News.
Why won’t Bitcoin reach $100,000 already?
Bitcoin came as close as it ever has at topping $100,000...Bitcoin came as close as it ever has at topping $100,000 last Friday before falling back to five figures, leaving crypto investors...
That, in turn, is prompting seasoned retail investors to buy DINO coins even as newer entrants pile into memecoins.
Even so, Kruger doubts this altseason will feel like the 2017 bull run.
“Altseason a la 2017 is too much,” he said.
In any event, analysts are watching closely to see how the cycle pans out.
Juicy upsideAfter traders realise Bitcoin may not offer as much juicy upside, they “chase pumps” down the food chain, toggling from large caps to small caps, Mena said.
Unlike past cycles, this one features new forces that are reshaping the marketplace. Case in point: crypto ETFs, said Christopher Inks, CEO of trading firm TexasWest Capital.
“The usual crypto bro cycling out of Bitcoin and into alts will look differently,” he said.
That’s because ETF buyers, who have been in Pac-Man mode, aren’t rotating capital into alternative cryptocurrencies.
At the same time, Inks and Mena said investors may start focusing on specific sectors such as AI.
The intersection of digital assets and AI in offerings such as the bizarre memecoin GOAT is deeply crypto-native and making waves across Crypto Twitter, Mena said.
“AI and AI agents are two key sectors I’ve been keeping an eye on,” he said.
Pedro Solimano is a Markets Correspondent based in Buenos Aires. Got a tip? Email him at [email protected].
Mobile giant Supercell, the company behind the smash mobile games Clash of Clans and Clash Royale, has invested in crypto gaming startup Games for a Living as part of a wider $3.2 million seed funding round.
Games for a Living (GFAL) was co-founded by Trip Hawkins, the original founder and CEO of video game titan Electronic Arts (EA). Acting as chief strategy officer, the startup company is developing games based around NFTs and crypto tokens.
With the fresh injection of capital, the startup plans to expand its core team and accelerate its production plans. This comes after the launch of its GFAL token sale, which brought in $4.4 million in capital last year. According to CoinGecko, the price of the GFAL token is up 235% since March 2023, though it has a relatively low market cap at $42 million, making it the 748th most valuable cryptocurrency on the market as of this writing.
“I’ve had the pleasure of working together with the team earlier in my career.” Supercell CEO Ilkka Paananen said, in a release. “We are excited to be part of their journey and see all the great things they’ll achieve.”
Alongside Supercell, this latest round of funding saw investment from former gaming entrepreneur and video game executive Mitch Lasky, as well as the former co-managing director of esports tournament operator ESL, Heinrich Zetlmayer.
“GFAL has really blossomed in the last year,” Hawkins said in a release. “I have incredible respect for Ilkka, Mitch, Heinrich, and our team, and this investment proudly gives us a clear imprimatur. We are excited about the coming year and have the resources to deliver and continue our growth.”
Last year, the startup soft-launched the game Elemental Raiders, only releasing it in limited parts of the world amid ongoing development. The studio claims in the funding announcement that the game has seen “steady improvement” in performance and metrics since March 2023.
Edited by Andrew Hayward
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Web3 Gaming Startup GFAL Raises $3.2M in Funding Round Led by Supercell and Mitch Lasky
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Web3 video games startup GFAL “Games for a Living” has raised $3.2 million in a seed funding round led by the Finnish mobile game development company Supercell Ltd and Mitch Lasky, a general partner at the Silicon Valley venture capital firm Benchmark.
This latest funding will be used by GFAL to expand its core team and speed up its production plans. The investment round builds on the $4.4 million in capital from token pre-sales that the company said it obtained in 2023 through GFAL’s token offering.
The team behind GFAL team includes team members who held positions at King Entertainment, Activision Blizzard, Electronic Arts, Netflix and Digital Chocolate.
GFAL’s token, $GFAL, is currently sitting at a fully diluted valuation (FDV) of $254,717,017 after one of the most impressive token launches of 2023, said the firm.
Elemental Raiders Showing Growth Funding will go towards the launch of GFAL’s mobile game, “Elemental Raiders ” which soft-launched in March 2023.
Elemental Raiders has a growing community of players and is seeing a steady improvement in the performance and the metrics of the game, said the gaming firm.
“I’ve been very impressed with the GFAL team’s design-centred approach to Web3 gaming, and I am delighted to join my friends Trip Hawkins and Ilkka Paananen [CEO of Supercell Ltd] in this financing round to support Elemental Raiders and other titles,” said VC Mitch Lasky in a press release.
Web3 Gaming Growth 2024In 2024, web3 gaming is growing rapidly with the space attracting more VC investment. In 2023, it is estimated that the blockchain gaming-related rounds reached $1.7 billion which is a significant part of that has flowed to the 270 blockchain games in development on Immutable.
Recently King River Capital, blockchain gaming firm Immutable and Polygon Labs announced they had teamed up to launch a $100 million gaming fund.
Web3 gaming platform Elixir Games raised $14 million in a seed funding round from Square Enix, the Solana Foundation, Shima Capital, and others. The funding will be used by Elixir Games to launch its native token “$ELIX” and its “Launchpad & Incubation Program” which go live later this year.
Illuvium announced it had raised $12 million in a series A funding round with contributions from investors such as Australian venture capital firm King River Capital, Arrington Capital and Animoca Ventures.
FC Barcelona’s defeat against Inter Milan not only plunged Catalan fans into dismay. This Champions League shock also shook another world, that of cryptos. Because behind the digital scenes, another match was being played: that of fan tokens. And while blaugrana supporters were feeling down, holders of the $INTER token were rejoicing.
In brief $INTER climbs 10.5% after its victory, $BAR falls 19.5% in 24 hours. Crypto traders anticipated the PSG-Arsenal match with spectacularly increased volumes. Tether’s investment in Juventus has awakened the entire football fan token market. Tokens activate according to results, linking sports passion and speculation in crypto markets. Inter crushes Barcelona… and ignites fan tokens The 4-3 scoreline signed Inter Milan against Barça made stadiums vibrate, but also crypto wallets. The token $INTER jumped 10.5% after qualification, reaching $1.19 the day after the match. Conversely, $BAR, FC Barcelona’s token, plunged 19.5% in 24 hours.
The curves mimicked the field: sharp rebounds and drops. During the 3-3, $INTER had lost 20%, before regaining 30% after the winning goal.
INTER wins a 7-goal match! Final secured. Graphs explode.
@FanTokens On the pitch, Yann Sommer was relentless. The Swiss goalkeeper extinguished Catalan hopes.
We believe until the last second. We work for these matches, for these moments.
Y. Sommer With seven decisive saves, he offered much more than a ticket to Munich. He boosted $INTER traders’ euphoria.
Hourly price evolution of INTER on May 7, 2025 – Source: TradingView PSG-Arsenal: tokens ready to explode Tonight, all eyes turn to PSG-Arsenal. And fan tokens are already boiling. $PSG and $AFC show volumes doubled in 24 hours.
Bets on the next Champions League champion – Source: Polymarket Polymarket gives 47.1% chance for Paris to win the final. Inter at 38.6%, Arsenal at 13%. The price of $PSG could rise to $3 if victorious. However, a defeat could push it down to $2.23, according to the 200-4H EMA.
$AFC follows a cup-and-handle pattern, with a 17% potential on success. But failure would bring the token down to between $0.63 and $0.56.
Every goal, every victory generates rewards. It’s not just farming. It’s tokenized hype.
@realokwy. Crypto traders are sleepless. Football fuels their adrenaline.
Crypto, business and connected stands Fan tokens are not just digital gadgets. They are utility assets based on the Chiliz blockchain. They allow access to votes, exclusive experiences, content, and meet-ups. Unlike NFTs, they are fungible. And that changes everything.
The Tether investment in Juventus served as a catalyst. $JUV jumped over 200%. Other tokens followed: Lazio, Porto, Paris… The model is spreading. Bonuses are now offered to holders: up to $5,000 per win, $10,000 for the final.
Here are some key figures:
$INTER: +10.5% after victory; $BAR: -19.5% overnight; $AFC volumes: +200% in 24h; Bonuses: $5,000 per win (Gamified DeFi). This bridge between the real world and the blockchain transforms clubs’ economics. A new business model is building, between passion, speculation, and loyalty. Crypto and football merge in a new dynamic where the pitch influences Japanese candlesticks.
In 2022, the Argentine fan token $ARG soared after the World Cup victory. This precedent shows that key moments awaken token markets. As the Champions League approaches its conclusion, it would be wise to watch the upcoming matches. Because if history repeats itself, crypto fans might be raising their arms even before the final whistle.
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Mikaia A.
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The past month has been unusually difficult for crypto markets. Nearly all major assets have traded lower following the record liquidation event of October 11, which triggered a broad risk-off phase across the sector. Bitcoin has continued to slide since, pulling most correlated tokens down with it.
Yet in the same period, some assets have behaved differently. While the broader market moved as a single macro-driven block, a few tokens showed price dynamics that didn’t fit the usual pattern. One of the most notable examples comes from football, specifically, from the Arsenal Fan Token ($AFC). That divergence raises an interesting question: what drives Fan Token valuations when the rest of crypto is falling?
Fan Tokens Decouple From the Crypto Market The past month has been challenging for crypto markets, with almost every major asset trading in negative territory. The downturn began on October 11, when the largest crypto liquidation event on record erased more than $20 billion in open interest immediately after the U.S. announced a tariff hike on China. The shock accelerated selling across the market and triggered a sustained decline: since that point, Bitcoin has fallen a further ~15%, dragging down the majority of tokens that remain closely correlated to it.
Source: TradingView
However, not all tokens respond to market conditions in the same way. Fan Tokens exhibit behaviours that set them apart from typical crypto assets. Their price action is heavily influenced by major football events and periods of high engagement, often causing them to decouple from Bitcoin and the broader market cycle. When anticipation and excitement build around a club’s performance, Fan Tokens tend to move according to sporting momentum rather than macro sentiment.
A clear example is the Arsenal Fan Token ($AFC). From the market bottom on October 11, $AFC sharply diverged from crypto benchmarks, outperforming $BTC, $CHZ, and $TOTAL3 (total crypto market cap excluding $BTC and $ETH). Over just slightly more than a month, $AFC gained over 30%. For comparison, $CHZ, the broad benchmark for Fan Tokens, increased nearly 19%, already strong relative to the market backdrop. Meanwhile, $TOTAL3 and $BTC declined by -2.4% and -7.6% over the same period.
Source: TradingView
Arsenal Case Study: Sporting Momentum as a Pricing Catalyst The clearest driver behind this decorrelation was Arsenal’s extended run of 10 consecutive victories across the Premier League and Champions League between September 25 and November 11.
Source: Diretta.it
As illustrated in the match sequence chart, each numbered point corresponds to one of those wins. After the October 10 crypto crash, the winning streak became the dominant catalyst shaping $AFC price action. Rising confidence among fans, combined with traders positioning around the possibility of yet another win, likely sustained continuous buy pressure. This dynamic pushed $AFC not only to recover its losses from the broader market sell-off but to move decisively higher in the weeks that followed.
Source: TradingView.
Arsenal’s case is not an anomaly. Similar price behaviours have appeared across other major Fan Tokens when clubs entered high-stakes phases of competition.
A clear example is Tottenham’s run in the Europa League 2025. After the club secured victory in the quarter-final and expectations of reaching the final increased, $SPURS began to reprice sharply higher. Over the following month, the token fully decoupled from broader crypto trends, with its correlation to Bitcoin dropping rapidly. At its peak, $SPURS gained +83% compared to Bitcoin’s +13%, a significant relative outperformance driven almost entirely by football-specific catalysts rather than market conditions.
Source: TradingView
A similar pattern emerged with Paris Saint-Germain during the Champions League 2025 campaign. After PSG advanced to the semi-finals and the probability of reaching the final increased, $PSG repriced meaningfully higher. Like Tottenham, the token broke correlation with Bitcoin and the broader market, showing independent behaviour. At its peak, $PSG reached +40% against Bitcoin’s +17%, again reflecting sentiment tied to football performance rather than crypto beta.
Source: TradingView
These cases highlight a fundamental characteristic of Fan Tokens: their performance is directly linked to sporting momentum, expectations, and tournament stakes. As confidence around a club rises, traders increasingly treat Fan Tokens as a way to express expectations about future results. In practice, this makes them function as an alternative to binary prediction markets such as Polymarket or Kalshi, and as a more transparent, continuous alternative to traditional sportsbook markets, where odds are centrally controlled.
Fan Tokens as Prediction Assets Unlike a sportsbook bet that locks users into a single outcome, Fan Tokens operate in a 24/7, liquid market where positions can be opened, closed, or scaled at any time. Investors are not betting on a single result, they are trading on momentum, probability, and belief. This shifts speculation from a one-off wager to an ongoing market-priced forecast.
Fan Tokens can also be used alongside prediction markets to exploit inefficiencies across related markets when expectations diverge. For example, if a club’s Fan Token begins pricing in higher confidence before odds adjust on a prediction platform, traders can act on that mismatch.
The rapid growth of on-chain prediction markets reinforces this dynamic. As more users become accustomed to speculating on sports outcomes, especially through platforms like Polymarket, that behaviour naturally extends to Fan Tokens, increasing liquidity, visibility, and demand across both ecosystems.
Source: Google Trends. Term: Polymarket.
A concrete way to observe the connection between Fan Tokens and prediction dynamics is by looking at the “English Premier League Winner” market on Polymarket, which settles in May 2026. Before October 2025, Manchester City was slightly favoured over Arsenal. However, as Arsenal entered its winning streak, the market rapidly repriced expectations: Arsenal’s implied probability rose from roughly 35% to 55%, while Manchester City dropped from around 45% to 30%.
Source: Polymarket
A similar repricing occurred in the Fan Token market over the same period. While Arsenal was outperforming on the pitch, $AFC appreciated more than 30%, whereas $CITY declined by over 5% across the same timeframe.
This divergence created two distinct trading approaches. A trader expecting Arsenal’s strong form to continue could simply take a directional position by going long $AFC. However, a more risk-controlled approach would be to trade the relative performance between the two clubs, going long $AFC and short $CITY. In that case, the bet is not on the absolute movement of the token, but on Arsenal outperforming Manchester City on the field, with the market continuously adjusting that expectation in real time. This is also a key difference between Fan Tokens and traditional betting: investors can hedge, neutralise wider market volatility, and express views on sporting momentum rather than binary outcomes.
Source: TradingView
The parallel movements across both markets, prediction platforms and Fan Tokens, send a consistent signal: Fan Tokens are highly sensitive to sporting performance and collective belief around future outcomes. As confidence grows or fades, Fan Token prices adjust in real time, allowing traders to gain or reduce exposure to a club’s trajectory rather than to the broader crypto market.
Conclusion The recent performance of $AFC, and similar patterns observed across $SPURS and $PSG, shows that while Fan Tokens remain broadly correlated to the wider crypto market, they possess unique dynamics that can override that correlation during key sporting moments. Their pricing is still influenced by macro trends, but real-world outcomes, momentum, and fan expectations can trigger periods of decorrelation and independent price discovery. When anticipation builds around a club’s trajectory, Fan Tokens reflect that belief in real time, often regardless of market-wide sentiment. For traders and fans alike, these assets provide a liquid, transparent and continuous way to take a view on sporting outcomes rather than macro conditions.
As the prediction-asset narrative gains traction across crypto and on-chain prediction markets attract growing participation, Fan Tokens naturally sit at the intersection of these two trends. Their value does not depend on isolated event settlements, but on the dynamic repricing of probabilities as a season unfolds. If current behavioural patterns continue, Fan Tokens may emerge as one of the clearest real-world demonstrations of markets pricing expectations, and one of the most accessible on-chain entry points for speculating on sport.
The cryptocurrency market has been in a downturn this week, with many digital assets facing continued price declines. Today is no different, with the global crypto market cap down by 2% over the past 24 hours.
Amid this broader slump, certain altcoins are drawing attention—not for their gains but due to recent ecosystem developments.
Berachain (BERA)Berachain officially launched its “proof-of-liquidity” layer-1 blockchain on Thursday. The project also conducted its BERA token airdrop, which saw the distribution of coins worth around $1.17 billion to its community members.
However, this airdrop was immediately followed by a surge in selloffs, which led to a decline in the coin’s value. BERA trades at $7.39 at press time, noting a 17% price dip in the past 24 hours.
Notably, during that period, the coin’s trading volume surged by over 150,000%, reflecting the high selling pressure among BERA holders. A falling asset price alongside rising trading volume indicates strong selling pressure. It suggests that more traders are offloading the asset, putting downward pressure on its price.
If selloffs persist, BERA’s price could plummet to $5.36. Without sufficient bullish support at this level, the coin’s price could drop further to $3.89.
BERA Price Analysis. Source: TradingViewOn the other hand, if BERA’s accumulation rises again, its price could climb to $8.47.
Ondo (ONDO)RWA-based asset ONDO is another altcoin trending today. The major factor driving this is Ondo Finance’s Thursday announcement of its plans to start its layer-1 blockchain designed for tokenized real-world assets.
Following the announcement, World Liberty Financial—a decentralized finance (DeFi) platform backed by President Donald Trump—purchased 42,000 ONDO tokens for $470,000 USDC on the CoW Protocol.
However, despite these developments, ONDO’s performance has remained lackluster. It has shed 0.1% of its value over the past 24 hours. At press time, the altcoin trades at $1.40.
If ONDO’s demand weakens further, it could extend its decline in the short term, causing its price to plummet to $1.23.
ONDO Price Analysis. Source: TradingViewHowever, a shift in market trends toward accumulation could drive ONDO’s value up to $1.57.
Notcoin (NOT)At press time, NOT trades at $0.0026. It has lost 40% of its value over the past week. In fact, on Monday, the altcoin plunged to a nine-month low of $0.0021 before rebounding slightly.
Its Elder-Ray Index confirms the poor demand for NOT among market participants. At press time, this is at -0.0019. This indicator measures an asset’s buying and selling pressure by comparing its price to its exponential moving average (EMA).
When the index is negative, it indicates that bears are in control, meaning selling pressure is dominant, and prices may continue to decline. If NOT’s decline continues, its price could revisit Monday’s multi-month low.
NOT Price Analysis. Source: TradingViewConversely, if buying activity resumes, it could drive NOT’s value to $0.0039.
CoW Protocol’s native token has soared 46% after South Korean exchange Upbit announced it will be listing the token on its platform on Feb. 25.
According to a recent notice, Upbit will be listing COW (COW), the CoW Protocol native token starting from Feb. 25 at approximately 20:30 KST. The Ethereum (ETH)-based token will be available for trading on the Korean won, Bitcoin (BTC) and Tether (USDT) markets. Users can begin depositing COW on Upbit at 19:30 KST.
Shortly after Upbit announced it will be listing COW, the token saw a major leap in price. COW soared as high as 46% mere minutes after the notice was posted, reaching a peak of $0.46 in daily trading. At the time of writing, COW is trading hands at $0.43.
According to the Upbit notice, the previous day’s closing price for COW was around 418 Korean won or equal to $0.29. In the past week, COW has seen a rise in value by 34.2% but it has experienced a decrease by nearly 30% in the past month.
Price chart for CoW Protocol’s native token, February 25, 2025 | Source: crypto.news The CoW Protocol native token has a market cap of $173.6 million and a fully diluted valuation which stands at $420 million. In the past 24 hours, COW’s trading volume has seen a 568.60% increase to $114 million in the past 24 hours, indicating a significant rise in trading activity.
Buy orders for COW will be restricted for five minutes after trading support begins. While all types of orders, with the exception of limit orders, will be restricted for an hour after trading support begins. Sell order prices are capped at a minimum of 10% less than the previous day’s closing price.
The CoW Protocol is a decentralized trading platform with intent-based aggregator as its main service. It also provides features like Maximal Extractable Value blockers, Remote Procedure Call solutions, and Automated Market Makers. COW is the CoW Protocol’s native token and is used for governance.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Key NotesCOW has recorded a massive price rally amid reports of Upbit listing.COW trading will open with pairs tied to BTC and USDT pairs.Upbit remains a key market in South Korea despite regulatory strain. The price of COW COW $0.15 24h volatility: 4.6% Market cap: $84.70 M Vol. 24h: $4.50 M , the native digital asset of CoW Protocol, is up over 50% on the daily chart. This outstanding surge comes as South Korean exchange Upbit announced plans to list COW on its platform on February 25.
Upbit to List COW Today Upbit revealed its intent to list the COW token in a recent notice. According to the details, COW will go live on the Upbit platform at approximately 20:30 KST. Once the token goes live on Upbit, users can trade it on the Korean won, Bitcoin BTC $59 593 24h volatility: 4.3% Market cap: $1.19 T Vol. 24h: $38.28 B , and Tether’s USDT $1.00 24h volatility: 0.0% Market cap: $186.07 B Vol. 24h: $56.50 B markets.
Deposits for COW on Upbit will begin at 19:30 KST. However, certain order types will receive restrictions for some time after trading support begins. Notably, buy and limit orders for COW will be restricted for five minutes and one hour, respectively. On the other hand, sell order prices will maintain a 10% minimum less than the previous day’s closing price.
Meanwhile, Upbit’s announcement to list COW has helped to spark investors’ interest in the token, as indicated by the soaring prices within a few minutes of Upbit’s announcement.
COW increased by 50.6%, reaching a peak of $0.46. This surge is noticeable considering COW closed the previous day at around 418 Korean won or $0.29.
According to CoinMarketCap data, COW price was trading at $0.4961 as of this writing, up 54.4% in the last 24 hours. Amazingly, the daily trading volume rose over 2460% in the last 24 hours, indicating rising investors’ interest in COW.
The COW token is used for governance with the decentralized trading CoW Protocol. CoW primarily functions as an intent-based aggregator. It offers features like Remote Procedure Call solutions, maximum extractable value blockers, and Automated Market Makers.
Upbit Continues to Expand amid Regulatory Challenges Upbit, one of South Korea’s leading crypto exchanges, is a major force in the digital asset space. Upbit’s announcement to list COW comes just a few days after the exchange listed JTO on its platform. Like COW, Upbit’s decision to list JTO expanded the token’s accessibility to a broader audience. This contributed to its price increasing by over 30% at the time.
Following JTO’s inclusion on the platform, Upbit said it supports over 233 digital assets on its spot market. These include major cryptocurrencies like Bitcoin (BTC), Ethereum ETH $1 572 24h volatility: 5.1% Market cap: $189.79 B Vol. 24h: $13.03 B , and Solana SOL $66.03 24h volatility: 4.2% Market cap: $38.31 B Vol. 24h: $2.87 B . As a result, Upbit now controls over 80% of South Korea’s market share.
Despite Upbit’s rising prominence, the exchange faces regulatory challenges in South Korea. According to reports from Coinspeaker, South Korea’s Financial Intelligence Unit (FIU) recently hit the exchange with a partial business suspension.
The markets regulator accused Upbit of violating South Korean laws prohibiting exchanges from processing transactions involving unregistered crypto asset service providers (CASPs). Despite this regulatory challenge, according to CoinMarketCap data, Upbit remains the fifth largest crypto exchange by trading volume.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
A leading $PEPE whale used 1928.86 $WETH (worth 3.95 million dollars) to purchase 20,511 $AAVE tokens at a price of $193 each through the CoW Protocol. The bull market sentiment toward $AAVE is evident through the transaction executed 14 hours ago through CoW Protocol because it already generated $406,000 of floating profit from the WETH investment.
14 hours ago, a whale spent 1928.86 $WETH ($3.95M) to buy 20,511 $AAVE at an average price of $193.
Currently, has a floating profit of $406k. The wallet belongs to an early $PEPE whale who holds 2.88T $PEPE ($19.97M).
— Onchain Lens (@OnchainLens) March 5, 2025 Breaking Down the Whale’s Wallet Holdings Nansen on-chain analysis shows the whale wallet 0xbcda26b7c6fe36b4f97c21a57807817b06e15c77 controls deep $PEPE holdings. The whale investor currently manages 2.88 trillion $PEPE worth approximately $19.97 million, which ranks them as one of the main early investors in this meme coin.
Transaction Breakdown: $WETH to $AAVE The whale conducted the $AAVE purchase across multiple transactions that CoW Protocol’s settlement contract processed. The investor made multiple large $WETH to $AAVE swaps through CoW Protocol settlement contracts with each trade between 65 to 256 $WETH.
A single transaction between the two tokens involved 256 $WETH amounting to $536,585 which produced 2,658 $AAVE. Additional swaps by the whale demonstrated his dedication to obtaining large amounts of $AAVE.
What This Means for $AAVE and DeFi Markets Information about whale movements acts as an important market sentiment measure, thereby indicating enhanced faith in DeFi governance tokens based on this significant $AAVE purchase. The ongoing accumulation by this whale investor indicates substantial market impact that would drive higher $AAVE prices over the near future.
The deep position in $PEPE assets owned by this investor leads to speculation about upcoming market moves by them. This whale’s current decision to sell parts of their $PEPE holdings could lead funds to enter both $AAVE and other elite DeFi crypto tokens, thus fueling market activity.
Are More Big Moves Coming? The crypto world attentively monitors $PEPE holdings due to the remaining $19.97 million of locked capital in the token. This progressive movement of investment funds from the whale into $AAVE could point to enhanced DeFi market enthusiasm that brings about increases in institutional-level and whale-scale capital inflow.
The crypto community maintains high awareness about the next moves of this significant investor as they monitor the whale activity closely. Has the current $AAVE purchase started an ongoing accumulation strategy from this whale investor or does this represent only a temporary investing approach? These whale activities enhance the rising prominence of DeFi governance tokens as critical elements in the developing cryptocurrency market structure.
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With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.
Key Takeaways COW surged more than 23% in 24 hours as volume followed suit. Still, more than 70% of traders were profitable, but is that enough to sustain the rally?
CoW Protocol [COW] has been in an uptrend for the past month. As of press time, COW had surged by 23% in the last 24 hours, while its volume reached $150 Million.
More data from CoinMarketCap showed that COW’s DEX volume had surpassed that of 1inch [1INCH]. Combining this, price action and liquidity provided some insights on why the altcoin was up.
Will COW defend its gains? COW’s surge took its price to a key level at $0.46 as the price broke from a bearish structure.
The shift in structure was corroborated by the trendline break, where price retested at $0.27. A second retest came to the same level, leading to a double bottom, which signaled the end of this correction.
With the level at $0.46 defining being defined by equal highs, a break above it could lead COW toward $0.88 thus opening the door to reclaim $1.
This surge was further backed by the rise in on-balance volume (OBV) despite the metric staying in the negative zone. Importantly, the OBV had surged from a low of -$738M to -$91M at the time of writing.
Source: TradingView With the structure point toward a bullish continuation, it is worth assessing the other side of the coin. COW could revisit $0.27 if the equal highs produced a subsequent price decline.
This would make the structure still remain bullish. However, a break below $0.27 could invalidate the bias. Apart the structure influence, what else has determined and could define the future of COW?
Will profits lure more holdings? More analysis using IntoTheBlock data showed that a huge number of holders were in the money. Statistics showed that about 71% were in profit while 29% faced losses, with the remaining being at break-even.
Since more traders were in profits, it could lure these participants into more holding time to increase the gains.
Examining the profitability data offered insights on key areas to focus on. Key resistance zones were between $0.46-$0.73 and $0.73-$1.55 where 55.77M and 230.62M respectively were accumulated.
On the hand, support important support zones were between $0.30 and $0.38 as more than 234M COW were bought.
The accumulation account was key, as holders tend to take profit or cut losses when price trades in these zones.
Can liquidity derail this surge? Despite the anticipation of more gains, liquidity could play a key role in negating this sentiment. According to CoinGlass data, longs of 50X leveraged were reducing as price approached $0.45.
Meanwhile, shorts of equal magnitude but with more volume were building at this level. This signaled that derivative traders were starting to short the altcoin heavily, which could pose a problem.
Source: CoinGlass Worth noting, Binance and Bybit controlled much of the token’s trading. Bybit had the most volume, with cumulative short liquidation leverage for both standing, at $2.90 million during press time.
MANYU (MANYU) community members are hopeful that the token could replicate Shiba Inu’s success, following its recent sale by Ethereum co-founder Vitalik Buterin.
Yesterday, the Ethereum co-founder sold several crypto assets he received from unsolicited donations from investors and project owners. Notably, the popular meme coin, MANYU, was among the tokens Buterin sold.
Etherscan data shows that Buterin sold over 2 trillion MANYU tokens, worth roughly $39,484, on CoW Protocol. The sale came less than two months after he received the tokens from MANYU community members in unsolicited donations.
Vitalik Buterin MANYU transactions Shiba Inu-Style Rally Incoming? Buterin’s recent wallet activity, particularly his sale of MANYU, did not go unnoticed by enthusiasts of the token. Interestingly, most users see the sale as a bullish event that could drive MANYU’s value to greater heights.
Some users referenced how Shiba Inu’s market cap reached billions of dollars after the Ethereum founder offloaded SHIB. Recall that the Shiba Inu’s pseudonymous founder Ryoshi gifted Buterin 50% of the token’s supply (500 trillion SHIB). The donation was part of a broader marketing strategy aimed at attracting investors’ attention to SHIB.
Shortly after the donation, Buterin burned over 410 trillion SHIB and donated the rest to nonprofits supporting COVID-19 relief efforts. Although the transaction initially resulted in a sharp decline in SHIB’s price, it rebounded, eventually reaching an all-time high five months after Buterin offloaded the tokens.
In a separate development, the price of the pygmy hippo-inspired meme coin, Moo Deng (MOODENG), also rallied significantly after Buterin sold 10 billion units of the token. Following his recent MANYU sale, X user Diana Sanchez suggested that whenever Buterin sells or disposes of a meme coin, the token eventually becomes legendary.
Another user, Belen Franchese, speculated that history will definitely repeat itself with MANYU, implying that the token’s price would rally significantly, just like Shiba Inu and MOODENG did in the past.
MANYU Soars Only 2.51% in 24 Hours In the meantime, MANYU is currently up 2.51% over the past 24 hours and is currently trading at $0.00002117 per token. It ranks as the 8,974th cryptocurrency globally with a valuation of $21,170.
Currently, MANYU has fallen 95.13% from its previous ATH of $0.0004344, recorded on February 18. While meme coins like Shiba Inu and MOODENG rallied significantly after Buterin offloaded them, it remains uncertain whether MANYU will follow the same trajectory.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Vitalik Buterin, the co-founder of Ethereum, drew the spotlight onto himself in the cryptocurrency world this morning after a series of notable on-chain transactions. According to data from Arkham, Buterin managed hundreds of thousands of dollars in sales, cashing out large portions of his holdings across different crypto protocols. Spanning roughly twelve hours, these transactions injected significant volatility and speculation into the digital asset market.
CoW Protocol Powers Buterin’s Multi-Million Dollar Sell-OffRenowned as one of the most closely watched figures in the industry, Buterin carried out multiple transactions early in the day, primarily using the CoW Protocol. Transaction records reveal that several withdrawals—each packaged in lots of 142,857 Wrapped Ethereum (WETH)—were executed just two to six hours apart. In return, Buterin received GHO, a widely used stablecoin, indicating not just diversification but also a hesitance to remain too heavily weighted in native crypto assets.
A breakdown of these swap operations shows each primary transaction averaged between $282,000 and $284,000. The pattern of wallet movements confirms that hundreds of thousands of dollars’ worth of Ethereum-based assets changed hands in a matter of hours. The reasoning behind Buterin’s sudden liquidity push has sparked heated discussions across the crypto community, while financial experts have started to examine how such swift, high-volume transfers might impact overall market depth.
Further analysis of his wallet activity reveals that Buterin’s trades reached beyond decentralized exchanges. Alongside CoW Protocol, his wallet interacted with platforms like Aave and Socket, facilitating smaller-scale shifts involving USDC and various token types. Nevertheless, the lion’s share of the transfer volume remained concentrated in those massive WETH transactions on CoW Protocol, painting a clear picture of deliberate portfolio rebalancing by the Ethereum founder.
Behind-the-Scenes Wallet Strategies and Transaction DetailsDigging deeper, a particularly attention-grabbing transfer of 3,500 WETH—amounting to almost $7 million—was recorded roughly seven hours ago, marking one of the day’s standout on-chain moves. The funds leaving Buterin’s wallet were deployed both to update his positions on the Aave platform and to send some of his holdings to the so-called “Null Address,” an action typically performed to burn tokens or remove them permanently from circulation.
Especially notable was a $284,000 GHO acquisition about six hours prior, fueling speculation that Buterin may be seeking refuge in stablecoins to hedge against broader market volatility. Every single move was immutably logged on the blockchain ledger, ensuring none of these major sales remained hidden from public scrutiny. As a result, many market participants are interpreting Buterin’s substantial transfer out of his own ecosystem as a potential precursor to further price swings in the days ahead.
Covering a twelve-hour window, this intense spate of transactions is best characterized as more than a simple round of profit-taking. Buterin’s activity reflects a complex wallet optimization strategy, one that not only adjusts his liquidity balance but also propels him to the top of crypto news headlines. The transparent nature of crypto assets meant the entire world was able to watch his multi-million dollar movements unfold in real time—compelling institutional and retail holders alike to reevaluate their next steps.
“Within just a few hours, Vitalik Buterin executed a series of multi-hundred-thousand-dollar swaps, primarily through decentralized protocols. Such high-volume, rapid movements from a figure of his stature inevitably invite market speculation and careful analysis,” Arkham observed in reporting on the transactions.
Buterin’s actions, spanning across established DeFi networks and involving both stable and volatile assets, signal a proactive approach to portfolio management. While speculation abounds about his motivations, the on-chain transparency of the crypto world ensures his every move echoes through trading desks and online forums alike. For now, the reasoning behind these substantial reallocations remains the subject of vigorous debate.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
A decentralized finance [DeFi] trader executed a massive swap, exchanging over $50 million in USDT for only about $36,000 in AAVE tokens.
On-chain data shows that the user attempted to purchase AAVE using 50,432,688 USDT through the Aave interface.
The funds were withdrawn from Aave and routed through CoW Protocol. This on-chain liquidity aggregator executes trades across decentralized exchanges.
However, the transaction ultimately returned just about 327 AAVE, valued at roughly $36,297, indicating extremely high slippage.
Aave says user confirmed slippage warning Aave founder Stani Kulechov said the platform warned the trader about the unusually large order before the swap was executed.
According to Kulechov, the Aave interface flagged the trade as having extraordinary slippage. It required the user to explicitly acknowledge the risk before proceeding.
Source: X “The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage,” Kulechov wrote.
Because DeFi platforms are permissionless, transactions can still proceed once the user confirms the associated risks.
Kulechov noted that while such events occasionally occur in decentralized markets, the size of this particular transaction was far larger than typical trades, increasing the likelihood of extreme price impact.
CoW DAO says no exploit occurred Following the incident, CoW DAO, whose routing infrastructure facilitated the swap, said there is no indication of an exploit or malicious activity.
In a statement posted on X, the team said the transaction was executed in accordance with the parameters specified in the signed order.
“Based on what we’ve seen so far, there’s no indication of a protocol exploit or otherwise malicious behavior. The transaction executed according to the parameters of the signed order,” the team said.
CoW Protocol added that its interface, as well as the Aave interface used in the transaction, displayed clear price impact warnings for swaps of that magnitude.
The protocol said it is continuing to review the transaction and will share updates if additional details emerge.
Aave to refund $600K in fees Although the swap itself cannot be reversed, the Aave team said it plans to return approximately $600,000 in fees collected from the transaction.
Kulechov said the team is also attempting to contact the trader involved.
“We sympathize with the user and will try to make contact with the user,” he said.
The incident has also prompted discussion within the DeFi community about whether additional safeguards could help prevent similar outcomes in the future.
Final Summary A trader attempting to buy AAVE with $50 million USDT received only about $36,000 worth of tokens due to extreme slippage. Aave and CoW Protocol say the trade executed as signed and showed clear price impact warnings. At the same time, Aave plans to refund about $600,000 in fees collected from the transaction.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
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Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
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Bitcoin falls below $60,000
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US Treasury Secretary: AI boom may boost productivity and help curb inflation.
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US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
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During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
A trader lost $50M after a swap faced 99% slippage on CoW Protocol. Despite warnings, the user confirmed the trade and received only about $36K. A crypto trader lost almost $50 million in a single transaction after executing a large token swap on the decentralized trading platform CoW Protocol in interaction with the assets linked to the Aave on the Ethereum Network.
What really happened Blockchain data shows that the trader tried to convert about $50.43 million worth of aEthUSDT into aEthAAVE tokens. Because the order was large, the swap was executed with more than 99% slippage. The trader received only 327 aEthAAVE tokens, which are worth around $36,000.
Skippage was the main reason for this loss. This type of event occurs when a large trade changes the price of an asset while the transaction is being executed. In decentralized finance, trades are executed through liquidity pools. If a trader attempts to execute a very large order against a pool with limited liquidity, the price can shift dramatically.
Stani Kulechov says that the platform displayed several warnings before the trade was completed. He explained that the interface flagged the transaction as having extraordinary slippage risk due to its size. Kulechov said the platform’s trading systems functioned as intended and followed standard industry practices.
In decentralized finance, arbitrage bots constantly monitor blockchain transactions. When a large trade causes a sudden price imbalance, these bots immediately step in to profit from the difference. Aave said it plans to contact the affected user. The protocol intends to return about $600,000 in transaction fees generated from the trade. Even though the platform provided warnings, the user proceeded with the trade, resulting in one of the most dramatic single-transaction losses seen in decentralized finance.
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