Cryptocurrency

Whale Transfers Shake Solana Market

Wednesday. February 5 at 7:00 AM

1 min. read

Whales are transferring their Solana (SOL) holdings to presumed safe storage wallets, causing a stir in the market. On Feb. 4, 2025, 5 SOL transfers from various wallets were observed. Notably, a whale moved 1,190,645 SOL valued at $242,492,804 USD from one wallet to another. Another transfer involved 545,281 SOL worth $114,530,747. A third transfer of 637,214 SOL valued at $133,840,278 occurred, followed by a transfer of 1,189,009 SOL worth $250,416,345. The latest transfer saw 1,189,009 SOL tokens worth $255,078,377 moved to an unknown wallet. These actions may be whales adjusting their holdings or securing funds in cold wallets. Despite a recent crypto crash, Solana has rebounded to $212.45, showing a 4.39% increase. Technical indicators suggest a possible consolidation with a potential rise above $215 or a test of support levels below $205.

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Neptune Digital Assets Adds 20 Bitcoin to Holdings

Wednesday. February 5 at 8:00 AM

Neptune Digital Assets, a Canadian blockchain company, recently increased its Bitcoin holdings by 20 BTC. The publicly-traded firm, known for its Bitcoin mining, staking, and blockchain operations, disclosed the acquisition of these 20 BTC as part of its expanded Bitcoin strategy from January 26 to February 3, 2025. Neptune purchased the BTC at an average price of $99,833 per coin, amounting to a total expenditure of nearly $2 million. This acquisition boosted Neptune's total BTC holdings to 376 BTC. Additionally, the company also acquired 1 million Dogecoin on December 27, 2024, at an average price of $0.37 per token through a strategic derivative purchase. Neptune's CEO, Cale Moodie, emphasized the company's focus on BTC and strategic asset acquisitions while managing leverage risk effectively. Both Bitcoin and Dogecoin have witnessed significant price fluctuations recently, with BTC hovering around $99,400 and DOGE around $0.27 after experiencing a sell-off.

Cryptocurrency

Whale Transfers Shake Solana Market

Wednesday. February 5 at 7:00 AM

Cryptocurrency

South Korea City to Seize Crypto From Tax Evaders

Wednesday. February 5 at 6:00 AM

The Gwacheon City in South Korea is set to launch a virtual asset electronic seizure system to track and confiscate crypto from tax evaders. With plans for full-scale seizures in the coming months, the city aims to identify hidden assets and enforce tax collection. Currently, 361 individuals owe more than $2,060 in local taxes, totaling about $12.9 million in arrears. By comparing records with data from major domestic crypto exchanges, authorities will track down these tax evaders. Despite the postponement of a 20% crypto tax by the South Korean government, local agencies now have the power to seize digital assets from tax evaders. Gwacheon officials emphasize the importance of their new electronic seizure system in closing tax loopholes and ensuring fairness. Advance warnings will be issued to encourage voluntary payment before any asset seizures take place. The city has already seized $206,000 worth of crypto from tax evaders in the past five years, with $75,500 recovered in unpaid taxes in 2024 alone. The implementation of the new system is expected to enhance enforcement efforts and deter tax delinquents.

Cryptocurrency

Cardano Price Analysis: Potential Recovery Ahead

Wednesday. February 5 at 12:00 AM

Cardano (ADA) has experienced a notable price decline recently, dropping by 22% in the past four days. Despite appearing as a setback, this downturn could actually present a positive outlook for the cryptocurrency's future. The current MVRV Ratio sits at -21.81%, falling within the opportunity zone of -11% to -25%, historically indicating a strong reversal point and potential price rebounds. This zone also serves as an accumulation opportunity for investors due to perceived undervaluation. The Chaikin Money Flow (CMF) indicator has shown an increase, reflecting positive investor sentiment and potential for a price rally. With technical indicators aligning for a possible recovery, Cardano's price may see a significant upside in the short to medium term. However, maintaining support above $0.70 is crucial for sustaining the bullish momentum. Investors are advised to conduct their own research and seek professional advice before making financial decisions.

Cryptocurrency