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1000x Gains on the Horizon? Whales Bet Big on Solana’s Latest Unlisted Meme Coin

1000x Gains on the Horizon? Whales Bet Big on Solana’s Latest Unlisted Meme Coin

May, 21 2024 16:10
1000x Gains on the Horizon? Whales Bet Big on Solana’s Latest Unlisted Meme Coin

In the shadowy depths of the crypto ocean, whales have found a new darling: a Solana-based meme coin named Sealana (SEAL). The coin, yet to grace any major exchange, is creating waves with its touted 1000x potential. The crypto elite are diving in, and the frenzy is palpable.

According to Cryptonews, Solana, known for its high-speed blockchain, now hosts a meme coin that’s capturing serious attention.

The coin’s allure? A staggering 1000x growth promise. This is no ordinary token—it’s a bet on humor and hype translating into substantial returns.

The irony isn't lost on seasoned investors.

Whales are accumulating this unlisted token Sealana (SEAL) with the fervor usually reserved for more established cryptocurrencies.

It’s might be a classic case of FOMO—fear of missing out—driving the market.

Currently, this meme coin remains off the radar of major exchanges. Yet, its appeal is undeniable. Whales are leveraging their substantial buying power, hoping to capitalize on an early entry before the wider market catches on. It’s a risky move, but in the world of crypto, risk often equals reward.

The meme coin’s 1000x potential is more than just a marketing slogan. For those in the know, it represents a calculated gamble. The influx of whale investments suggests confidence, albeit mixed with a hint of speculative bravado. Such moves could herald a surge once the coin lists on prominent platforms.

Will this new meme coin live up to the hype?

Wall Street is watching closely. The high stakes game being played out could either lead to astronomical gains or be a cautionary tale. Either way, the crypto community is on high alert.

In a world where traditional investments often fall short, the crypto market’s wild west remains as enticing as ever. As whales continue their buying spree, the rest of the market waits with bated breath. Is this the next big thing, or just another flash in the pan? Only time will tell, but for now, the excitement is undeniable.

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Telegram Faces Surge in Toncoin Scams Targeting User Wallets
Jun 26, 2024
Telegram, the popular messaging app, is grappling with a significant increase in Toncoin (TON) ecosystem-related scams, according to a report by blockchain reporter Colin Wu. The layer-1 blockchain, which is closely associated with Telegram, has become a breeding ground for phishing attacks and pyramid schemes. Blockchain security firm SlowMist has identified numerous phishing links and bots spreading through Telegram groups. These scams often employ fake airdrops and other deceptive methods to compromise users' TON wallets. "Many phishing links (or bots) are spread through groups, using fake airdrops and other methods to hack assets in users' TON wallets, especially Anonymous Telegram Numbers," Wu quoted SlowMist's findings. Anonymous Telegram Numbers, which allow users to create accounts without revealing their identity, are particularly vulnerable to theft. In addition to phishing scams, cybersecurity firm Kaspersky reported a Toncoin-focused pyramid scheme operating on Telegram in April. Scammers promote a "super-secret awesome bot" and referral links as a way to earn Toncoin. "Scammers promote a 'super-secret awesome bot' and referral links as the key to earning Toncoin. In short: you invest your money, buy 'booster' tariffs, invite friends, and earn commission from every coin invested," Kaspersky explained. The pyramid scheme incentivizes larger investments with the promise of higher returns. Kaspersky's data suggests that this scam has been active since at least November 2023, targeting both Russian and international users. "The scammers promise earnings from two sources: a fixed payment of 25 TON for each invited friend and commission based on the booster tariff purchased by your referrals," Kaspersky detailed. The scheme ultimately proves to be a classic pyramid structure, where only the scammers profit while all other participants lose their investments. Kaspersky concluded, "It turns out to be a classic pyramid scheme, where each participant is 'a partner rather than a freeloader'. Sadly, nobody profits except the scammers, and all 'partners' lose their investments." As Telegram continues to face these challenges, the need for enhanced security measures and user awareness has become increasingly apparent. The platform's close association with the Toncoin ecosystem has made it a prime target for malicious actors seeking to exploit unsuspecting users. Telegram is an instant messaging and voice-over-IP service developed by Telegram FZ LLC, a privately held company registered in Dubai.Telegram is run by Pavel Durov, the many behind VKontakte, Russian social network overtaken by Putin's regime. Durov had to flee from Russia. Durov claims that Telegram is extremely secure, offering end-to-end encrypted video calling, VoIP, file sharing, and several other features. TON, or The Open Network, is a decentralized layer-1 blockchain platform originally developed by the Durov and his team. After facing regulatory challenges, Telegram officially withdrew from the project, and it is now maintained and developed by the open-source community.
Solana Eyes $1,000 in 2024 as Whales Maintain Holdings
Jun 26, 2024
Solana (SOL) has rebounded from recent losses. Whale investors maintain their positions, hinting at potential future gains. Now we are looking for a broader market upturn. SOL has risen 8.41% in 24 hours to $137.93. It posted a 0.51% weekly gain. This contrasts with losses from Bitcoin (BTC) and Ethereum (ETH) - the leading cryptocurrencies, taking everyone's attention. At the moment, Solana boasts a 667.92% annual return. This year's return stands at an impressive 747.74%, outpacing other leading cryptocurrencies. A little too early to bury our favorite altcoin, right? Solana's price has broken a key resistance level at $136.78. This suggests strengthened buying pressure, which is a clear sign of further upward movement. At least, we are used to think so. The Relative Strength Index (RSI) has surged from 5 to 65 in 36 hours. This dramatic rise underscores significant buying pressure. It indicates a possible shift towards positive short-term momentum. The 30-day moving average is trending upwards. It approaches convergence with the 200-day moving average. A decisive crossover above the 200-day would validate this resurgence. So, technical indicators suggest positive short-term price movements. But what about long-term growth? Analysts agree it will likely depend on fundamental factors, you know, the ones we like to discuss so much. Let's take a look. Solana's current market cap is $63.76 billion. It it possible to reach $1000 per token? Probably so, but it would require a market cap of $460 billion. Which is a miracle, because this is comparable to Ethereum's current valuation. While ambitious, such growth isn't impossible. It would likely require a significant catalyst. Experts speculate that recent Ethereum ETF approval may pave the way for other crypto ETFs. This could include Solana. Such a development could boost Solana's adoption and investor confidence. The famous altcoin could finally get on its long-term growth trajectory.
Ether Spot ETFs Won't Match Bitcoin's ETF Success - Analysts
Jun 25, 2024
Bernstein predicts lower demand for Ether spot exchange-traded funds (ETFs) compared to Bitcoin ETFs. Basically, same people and institutions are going to invest, yet Ethereum attracts less money from investors. Yes, the broker's analysis suggests similar demand sources but on a reduced scale. Gautam Chhugani and Mahika Sapra, analysts at Bernstein, highlight a key factor. "ETH should not see as much spot ETH conversion due to the lack of an ETH staking feature in the ETF," they state. The basis trade is expected to attract interest over time. This should contribute to healthy ETF market liquidity. The trade involves simultaneous spot ETF purchase and futures contract sale. U.S. spot ether ETFs are nearing availability. The Securities and Exchange Commission (SEC) recently approved key regulatory filings from issuers. Bernstein's report emphasizes ether's growing use-case. "ETH as a primary tokenization platform is building up a strong use-case, both for stablecoin payments, as well as tokenization of traditional assets and funds," the authors note. Regulatory improvements are needed for Ether and other digital assets. Bernstein anticipates a favorable narrative shift around the U.S. elections later this year. Probably because Trump has already changed his rhetorics about crypto, and Biden is about to follow. The report cites improving odds of a Republican victory. It also notes Trump's pro-crypto stance as contributing factors. Despite recent market pullbacks, Bernstein maintains that the "structural adoption cycle remains intact." Simply put, nothing can stop us from going to mass crypto adoption, in case you still had any doubt. JPMorgan, a Wall Street giant, shares a similar view. Their recent report suggests spot ether ETFs will likely see much lower demand than bitcoin ETFs. JPMorgan attributes this to bitcoin's first-mover advantage. They believe it could potentially saturate overall demand for crypto exchange-traded funds.
Paying Taxes in Bitcoin Might Soon Become Real Thanks to This US Lawmaker
Jun 25, 2024
Congressman Matt Gaetz has introduced revolutionary legislation to allow federal income tax payments in Bitcoin. If that happens indeed, there's going to be another huge milestone on a path to mass Bitcoin adoption. The bill aims to amend the Internal Revenue Code of 1986. It would require the Treasury Secretary to develop a plan for accepting Bitcoin as payment. The Florida Republican's proposal seeks to modernize the tax payment process. Gaetz believes this move will promote innovation and increase efficiency. He also thinks it will offer more flexibility to American citizens. They will definitely benefit from having new options of paying taxes. "This is a bold step toward a future where digital currencies play a vital role in our financial system," Gaetz told The Daily Wire. He added that this would ensure the U.S. remains at the forefront of technological advancement. The bill outlines very specific requirements for the Treasury Secretary. These include establishing regulations for Bitcoin acceptance and determining when payments are considered received. It also mandates the immediate conversion of Bitcoin to its dollar equivalent. The legislation addresses related non-tax matters, contracts, fees, and liability. It states that the Secretary shall develop a method to allow Bitcoin payment of any tax imposed on an individual. This proposal follows a surge in Bitcoin support among US politicians. Presidential candidates Donald Trump and Robert F. Kennedy Jr. now accept Bitcoin payments. The Biden campaign is reportedly considering accepting cryptocurrency donations. What else could Biden do? He is considered to be Bitcoin public enemy number 1, as of now. Biden Administration officials are expected to attend a Bitcoin roundtable in Washington D.C. Congressman Ro Khanna will host the event. It clearly comes in response to Donald Trump's embrace of Bitcoin. Coinbase CEO Brian Armstrong recently met with senators from both parties. The discussions focused on creating clear rules for the crypto industry. U.S. Congressman Thomas Massie has also shown interest in cryptocurrency. He recently announced plans to introduce a bill to end the Federal Reserve. Massie attributed this decision to reading "The Bitcoin Standard" book.
Bybit Overtakes Coinbase as Second-Largest Crypto Exchange, Benefits from Binance Troubles
Jun 25, 2024
Bybit has become the world's second-largest cryptocurrency exchange. That is official now. And this shift follows Binance's decline in market share due to regulatory challenges. A June 25 report by Kaiko revealed Bybit's impetuous ascent. "Since October, the exchange's market share has surged from 8% to 16%, surpassing Coinbase in March," the report stated. What about its competitors? Well, Coinbase's market share increased by only 1% during this period. This occurred despite improved profits and revenue. Bybit's growth may be linked to Binance's regulatory issues. These problems caused Binance start faltering and to lose some of its market dominance. Binance's market share fell from 60% to 54% since October. This 6% decrease coincided with regulatory challenges. So basically it means that the exchange benefited from Binance's regulatory troubles. On November 21, 2023, U.S. officials announced a $4.3 billion settlement with Binance. This was for Anti-Money Laundering violations. In June 2023, the SEC sued Coinbase and Binance for alleged securities violations. The SEC boldly claimed Binance and its founder misappropriated user funds. Bybit introduced zero-fee trading for USDC in February 2023. This may have contributed to increased trading volume. Bybit's average fees are competitive with Binance and OKX. These are among the lowest in the industry, according to Kaiko. According to Ben Zhou, Bybit's co-founder and CEO, the commitment to competitive fees, a secure platform, and innovative products has resonated with our users. Which reminds us of why we used to love Binance at first, right?
Lightning Network Firms Unite to Boost Adoption of Game Changer Protocol
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