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In a recent transaction, a crypto whale moved $90 million worth of Ethereum to Kraken. This significant transaction has spiked cryptocurrency trading activity as investors anticipate a market price rally. Meanwhile, Arweave holders are diversifying their portfolios with Meme Moguls after Arweave experienced a significant correction in January.
Summary
Ethereum Whale Transfer Helps Keep Ethereum Stable
According to the on-chain analytics tool Lookonchain, a crypto whale moved $90 million worth of Ethereum from a formally dormant wallet onto the Kraken exchange. In total 39,260 ETH was moved to a Kraken address, which had previously received a transaction of 47,260 ETH in 2017.
Since this transaction, Ethereum has remained relatively stable. Its monthly price fluctuations have remained low, with Ethereum decreasing in value by just 3.11%. Over the last 24 hours, Ethereum’s price has increased by 2.08%, and Ethereum is now trading at $2,317.
With the Bitcoin halving occurring in April, market analysts believe that Ethereum could have a strong performance in February and March. However, Ethereum’s daily trading volume is down by 22.69% over the last 24 hours, suggesting that investors may be choosing alternative investments.
Arweave Crashes 17% In January
Arweave (AR) is following a bearish trend. Its value has decreased by 17% over the last month, and 4% in the last week. This decrease has caused Arweave to drop from $10 to $8.3, though Arweave had recovered slightly to $8.52 at the time of writing.
As Arweave’s value continues to drop, investors are losing confidence in the altcoin. Daily trading volume has dropped by 14.12% over the last 24 hours and could drop further if Arweave’s price continues to fall.
According to bullish predictions, Arweave could recover to $10 in February. However, having experienced additional decreases over the last week, investors fear that Arweave could drop below its current resistance level of $8.50.
Arweave Investors Buy Meme Moguls To Maximize Returns
With Arweave’s future looking uncertain, investors are diversifying their portfolios with Meme Moguls. This exciting new P2E altcoin has gained global attention during its presale, and its native token has increased in value by 90%. Analysts are now predicting that Meme Moguls could surge 100x over the next year, which has made $MGLS an extremely popular investment.
Meme Moguls is launching the world’s first meme-based stock market. This virtual market will be used to trade meme assets that are valued like traditional stocks. Investors will start with $100,000 to invest in this market and earn prizes based on their performance.
As well as its stock market Meme Moguls will also introduce unique games and tournaments, during which players can win lucrative cash prizes and other rewards. They can also fully customize their own avatars, engage in community chats, and network with like-minded gamers.
Meme Moguls is in the 5th stage of its presale and has almost raised $2 million. Its presale will end on February 28th, and phase 1 of the Meme Moguls game launch will start on March 11th. Over the next few weeks, Meme Moguls will launch on Uniswap, and developers are in talks with other exchanges. Post-launch, experts believe that Meme Moguls will experience several price increases in just a few weeks.
For more information about the Meme Moguls (MGLS) Presale:
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