Chainlink Whale Activity and Price Movement
Crypto Whale Loses $4.5M in LINK
A major whale recently made moves that could indicate a Chainlink ($LINK) price shift. This whale has deposited 250,000 LINK worth $5.37M to Binance and OKX, following previous withdrawals. During December 14-18, the whale had withdrawn 595,000 LINK worth $17.31M from Binance, possibly just adjusting for better market conditions. Even though the average purchase price stands at $29.1 with a realized loss of $4.5M, analysts remain optimistic about the price rebound, with some projecting the price to jump to $34 in the near term. LINK has rallied by 20% over the past month, which suggests positive momentum.
XRP Legal Battle Sparks Controversy
Lawyer Slams Gasparino’s Remarks on Ripple
Ripple vs SEC has created heated debate about the recent turn of their legal saga since Fox Business correspondent Charles Gasparino criticized Judge Torres’ verdict, calling it “idiotic”. Gasparino’s opinion created a debate as his remarks were picked up with crypto influencer Tony Edward defending the ruling while correcting Gasparino’s interpretation as lawyer Bill Morgan pointed out that the judgment only addressed Ripple’s programmatic sales and not on broader second market transactions. This discussion highlights differing perspectives on the ruling’s impact on retail investors and the crypto market.
Bitcoin ETF Outflows Amid BTC Price Dip
$287M in Bitcoin ETF Outflows
Institutional investors are withdrawing money from Bitcoin ETFs, recording $297.75 million in outflows by December 27, 2024. Fidelity’s FBTC saw the biggest outflow at $208.2 million, followed by Ark Invest’s ARKB with $112.59 million. Other funds like Bitwise’s BITB and Invesco’s BTCO also suffered outflows. This withdrawal coincides with Bitcoin falling to a price of $94K, which has made many question the prospects for BTC and institutional interest in this asset class.
Major Pi Network Milestone Before Launch to the Open Network
Pi Network is getting ready to release the Open Network in Q1 2025 with a big leap of launching 20 Mainnet apps via Pi Browser. These applications represent the first significant transition from Testnet to actual Pi network transactions of goods and services, offering practical utility to the Pi community. The CEO of PiChainMall projected that Pi Network could evolve to be a Layer 1 blockchain with a market capitalization exceeding $1 billion and a fully diluted valuation over $100 billion—which bodes well for massive growth as the mainnet launch draws near.
PEPE Token Investor Profits Despite Downtrend
Crypto Investor Rakes in $11.7M Profit While PEPE Token Is Downtrending
A savvy crypto investor reaped a profit of $11.7 million from trading PEPE, a popular meme token, which has recently been on a downtrend. The investor sold millions of PEPE tokens after they had peaked at $0.00002825. Though the investor did not make it to the all-time high, the profit was significant. Recently, they kept piling PEPE. Last week, they spent $24.5 million on 1.42 trillion tokens to keep a bullish outlook about the meme coin’s future potential.
These are some of the most dynamic market updates within the cryptocurrency space today, from whale activity in Chainlink to institutional retreats from Bitcoin ETFs and significant new developments for Pi Network and PEPE token.
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