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Weekend Market News Recap
Here’s a recap of the weekend market news for BTC, ETH, PEPE, METIS, and ORDI:
1. METIS and ETH
- The PolyNetwork exploiter sold 43.27K METIS for 349.4 ETH, causing a more than 10% drop in METIS price.
- The exploiter still holds 62,818 METIS and may continue to sell, potentially affecting the METIS market.
2. PEPE
- A prominent crypto trader sold 180 billion PEPE for 149.4 ETH, leaving 2.07 trillion PEPE in circulation.
- The trader initially spent 0.125 ETH to buy 5.9 trillion PEPE and has since sold a total of 3.83 trillion PEPE for 2,411 ETH, netting around $4.5M.
3. ETH and BTC
- A smart trader with a trading profit of $841K started to long ETH and BTC, potentially influencing their market prices.
4. ORDI and Bitcoin
- The Bitcoin NFT protocol Ordinals has minted approximately 15.4 million inscriptions, generating a total fee income of 1813 BTC.
5. Bitcoin
- Hong Kong-listed company Linekong Interactive Group announced the purchase of 44.2812 Bitcoins on the open market for $590K and $650K respectively, potentially influencing its market value.
Hot Take: The market news highlights the potential impact of large sales, exploiter holdings, trader positions, and corporate investments on the prices and values of cryptocurrencies. These developments can significantly influence the market dynamics and present opportunities and risks for investors.
Blount Charleston stands out as a distinguished crypto analyst, researcher, and editor, renowned for his multifaceted contributions to the field of cryptocurrencies. With a meticulous approach to research and analysis, he brings clarity to intricate crypto concepts, making them accessible to a wide audience.