Crypto enthusiasts on Twitter have taken notice of a mysterious Ethereum (ETH) wallet valued at around $400 million. There is speculation among community members about whether the owner has lost the key to the wallet or if they are simply waiting to make a significant move in the market with the large stack of tokens. The wallet was originally created during Ethereum's initial coin offering in 2014, and it has never been used for any transactions. By holding onto the tokens, the value of the wallet's ETH has seen a significant increase in US dollar value over time, and it has also accumulated more tokens through airdrops. One of the airdrops received by the mysterious wallet was a significant amount of Ethereum Classic (ETC), totaling 250,000 ETC tokens. At current exchange rates, this amount is worth around $5.3 million. Ethereum Classic is the original chain of Ethereum that existed before a hard fork was implemented due to the DAO hack incident in 2016.

The question is whether the mysterious whale holding $400 million worth of ETH will continue to hold onto their investment or if they will make a significant move in the market that could have a major impact

Crypto enthusiasts on Twitter have taken notice of a mysterious Ethereum (ETH) wallet valued at around $400 million. There is speculation among community members about whether the owner has lost the key to the wallet or if they are simply waiting to make a significant move in the market with the large stack of tokens. The wallet was originally created during Ethereum's initial coin offering in 2014, and it has never been used for any transactions. By holding onto the tokens, the value of the wallet's ETH has seen a significant increase in US dollar value over time, and it has also accumulated more tokens through airdrops.One of the airdrops received by the mysterious wallet was a significant amount of Ethereum Classic (ETC), totaling 250,000 ETC tokens. At current exchange rates, this amount is worth around $5.3 million. Ethereum Classic is the original chain of Ethereum that existed before a hard fork was implemented due to the DAO hack incident in 2016.

The fraud prevention firm ThreatFabric says an alarming new banking malware is evolving to more effectively avoid detection and steal personal data.

Security researchers at ThreatFabric say Crocodilus, a new and sophisticated strain of malware that targets mobile banking apps and crypto wallets on Android phones.

“Crocodilus enters the scene not as a simple clone, but as a fully-fledged threat from the outset, equipped with modern techniques such as remote control, black screen overlays, and advanced data harvesting via accessibility logging.”

ThreatFabric says Crocodilus is emerging as a major threat since it first detected the malware in March.

“Notably, its campaigns are no longer regionally confined; the malware has extended its reach to new geographical areas, underscoring its transition into a truly global threat.”

One alarming evolution detected in Crocodilus is its ability to infiltrate the user’s contact list and add itself to it, bypassing fraud detection programs that flag callers not in a user’s contacts.

“…Crocodilus demonstrates a level of maturity uncommon in newly discovered threats. Already observed targeting banks in Spain and Turkey and popular cryptocurrency wallets, Crocodilus is clearly engineered to go after high-value assets.

The rise of new threats like Crocodilus shows that basic, signature-based detection methods are no longer enough—especially in the early stages when the malware first starts spreading. To stay protected, financial institutions should adopt a layered security approach that includes thorough device and behaviour-based risk analysis on their customers’ devices.”

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Hackers Target Android Users’ Bank Accounts As New Malware Becomes ‘Global Threat’: Report

Key Takeaways:

Bitcoin slumped more than 2% in the past 24 hours to dip below the $101,000 level before partial recovery.

Nearly $1 billion worth of crypto long positions were liquidated, affecting more than 220,000 traders across the world.

Market mood damped by heightened geopol tensions and big publicrows between key influencers.

Bitcoin’s latest price crumble rattled the market, leading to huge liquidations and a frenetic trading session. This story explores the factors at play here, the size of liquidations under way and how wider geopolitical forces are shaping behavior among crypto investors.

Read More: Crypto Bull Run Phase 3 Ignites as Elon Musk Cuts Political Ties – Are You Ready?

Bitcoin Price Tumbles, Triggers Massive Liquidations

Less than 24 hours earlier, Bitcoin’s price plummeted from about $105,000 to nearly $100,900, falling below an important psychological level for just a moment. This crash triggered a chain of forced liquidations throughout crypto derivatives markets, liquidating nearly $1 billion worth of leveraged long positions.

Liquidation Breakdown

Almost 228,000 traders were liquidated during this time, incurring $985 million worth of losses, analytics firm Coinglass said. Longs suffered the most damage with $889million in liquidation value being wiped out, while shorts lost $97million.

Among them was a single liquidation on BitMEX’s largest instrument, the Bitcoin perpetual contract (XBTUSD), with a position size of around $10 million. These figures demonstrate just how volatile and risky leveraged crypto trading can be during rapid market moves.

Volatility Driven By Geopolitical And Market Conditions

The steep decline in prices didn’t occur in a vacuum. A number of macroeconomic and geopolitical factors helped drive up investor anxiety:

Renewed US-China Trade Tensions: In a clear shot out of the blue for the markets that Donald Trump intends to run tough on China, all risk assets are falling out of bed on the back of renewed trade tensions, a factor that shouldn’t be ignored when it comes to getting an overall sense of where cryptos are heading. Investors like to cut risk fast in uncertain times, so that often results in quick selloffs.

Read More: The Leading Token as Trump Tariff Forecast Sparks Fresh Expected Price Movement for Bitcoin and Altcoins

High-Profile Public Feud: The highly-publicised battle of words on Twitter between Tesla chief Elon Musk and US President Donald Trump only added to market nervousness. Musk’s public claims tying Trump to sealed legal documents only made more headline s and ratcheted up investor anxiety.

These outside headwinds have converged on an environment well suited to sharp price adjustments and greater market fluctuations.

The Volume of Exchange Increases with the Price Drop

Stereotypically, the trading volume of Bitcoin exploded by 36.6% during that period, or $60.4 billion in volume. Such a spike indicates that the price decline prompted a spike in trading, as traders raced to close out existing positions in the volatile market, or establish new ones.

Despite the sell-off, Bitcoin’s market capitalization is still heavyweight, sitting at approximately $2.03 trillion, with almost 19.9 million BTC in circulation. This further illustrates that despite the rocky markets, investors are still keen to hold the asset and that it is very liquid.

The Impact of Leverage and Liquidations on Market Dynamics

Leveraged trading will magnify market moves: When prices plunge, traders who borrow capital to take bigger positions face automatic liquidation when the value of their collateral falls below certain levels. But, this can provoke a domino effect where liquidations create a downward pressure on the price, which in turn fuels further liquidations.

Such an amount of liquidations — close to $1 billion — shows just how important it is to manage risk and size your position properly while trading in crypto. The drop caught many traders by surprise for both its speed and magnitude.

What This Means for Crypto Investors

Here’s how market watchers and institutional investors are watching how external events are affecting the crypto market mechanics. The recent pullback and avalanche of liquidations could lead to short-term pain, but could to offer investors who can handle volatility opportunities in the long run.

Risk Awareness: Traders using leverage should remain cautious, as sudden geopolitical developments can swiftly reverse bullish trends.

Volatility as Opportunity: Higher volume and liquidation incident can bring buying opportunities to long term holders when panic subsides.

Sentiment Sensitivity: Crypto markets remain highly reactive to global news and social media, more so than traditional assets. This means sentiment can rapidly shift, influencing price action disproportionately.

Could Bitcoin Stabilize Soon?

While Bitcoin’s price is currently under pressure, technical analysts point to strong support zones near $100,000, suggesting potential stabilization in the coming days. Additionally, with institutional adoption growing and on-chain metrics showing healthy network activity, the dip may be temporary.

However, caution prevails as unpredictable geopolitical developments could prolong volatility. Traders and investors should stay informed about both crypto-specific signals and broader macroeconomic news.

This market event is a reminder of the complexities and risks involved in cryptocurrency trading, especially under high leverage conditions. Staying updated with timely news and maintaining disciplined trading strategies is crucial for navigating this rapidly evolving landscape.

Bitcoin Plunges Below $101K as Elon Musk-Trump Feud Sparks Nearly $1B Liquidations

A late-night Twitter spat between President Donald Trump and Elon Musk sparked fresh uncertainty in global markets, sending major cryptocurrencies tumbling and wiping out nearly $1 billion in leveraged bets.

Bitcoin

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dropped below $101,000 overnight before bouncing modestly, with DOGE and ADA among the worst hit, down over 6% each in the past 24 hours. The CoinDesk 20 Index, which tracks the largest crypto assets, shed over 5%.

Data from CoinGlass shows that traders lost $988 million in liquidations — of which $888 million were long positions — indicative of a wipeout in bullish positions.

Exchanges like Bybit and Binance saw the biggest hits, with Bybit alone accounting for nearly $354 million in liquidations.

The liquidations largely hit major tokens, with bitcoin leading the pack at over $342 million liquidated in the past 24 hours, according to CoinGlass data.

Ether

followed with $286 million, reflecting the sharp sell-offs across the broader market.

Other tokens like Solana's

(Coinglass)

and Dogecoinsaw $51 million and $27 million liquidated, respectively, as altcoin traders found themselves on the wrong side of the sudden downturn.

XRP

wasn’t spared either, with $23 million in positions wiped out. The data also shows that high-leverage plays on memecoins, such as 1000PEPE, added to the volatility, as traders rushed to exit.

Liquidations to the forced closure of a trader's leveraged position when they can no longer meet the margin requirements. This typically occurs when the price of the underlying asset moves against their position, causing them to lose a large portion, or all, of their initial investment.

A cascade of liquidations often indicates market extremes, where a price reversal could be imminent as market sentiment overshoots in one direction.

The sell-off comes as Trump accused Musk of going “crazy” and threatened to terminate government contracts with his companies, while Musk lashed back by linking Trump to Jeffrey Epstein’s files.

The clash overshadowed what had been a mostly bullish trend for crypto markets in recent weeks, intensifying a profit-taking bout from the start of this week.

Crypto Bulls Get Liquidated by $800M as Trump-Musk Tussle Rattles BTC, ETH, XRP and Others

Good Morning, Asia. Here's what's making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.

Bitcoin

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is trading above $101.5K as Asia begins its trading day, shrugging off fresh tariff uncertainties from the Trump administration.

However, the real story, according to Semir Gabeljic, director of capital formation at Pythagoras Investments, is that traders continue to be laser-focused on a bull market throughout the remainder of the year, with a high degree of confidence that BTC will reach $120,000, buoyed by persistent corporate buying and declining volatility.

"The uncertainty from unexpected tariff increases by the Trump administration is causing some volatility," Gabeljic said in an email to CoinDesk. "However, bitcoin remains relatively strong, with lower volatility compared to other digital assets."

Institutional bullishness remains resilient, Gabeljic highlighted, noting that traders on Polymarket are "pricing in a 69% probability that Bitcoin will hit at least $120,000 by year-end."

FlowDesk, a Paris-based market maker, echoed this optimistic outlook despite recent subdued market conditions in a recent note on Telegram.

"The market is clearly coiling, waiting to break out of a narrow band just below all-time highs," FlowDesk wrote in their market update note. "Significant repositioning and rotation from Bitcoin towards altcoins has occurred, though BTC's underlying strength remains evident."

FlowDesk also noted cautious market behavior, as indicated by a modest decline in BTC funding rates on major exchanges like Binance, which suggests a reduction in leverage. However, on-chain borrowing activity has seen renewed vigor, potentially signaling anticipation of an imminent market breakout.

Further bolstering the bullish BTC narrative is the continued accumulation by corporate treasuries.

Listed companies now hold approximately 809,100 BTC, worth nearly $85 billion, nearly doubling the amount held a year ago, driven by favorable regulatory shifts and accounting changes that allow for the recognition of bitcoin gains.

"The expectation of a continued strong bitcoin remains," said Gabeljic.

News Roundup

$TRUMP Token Drops 9% as Musk-Trump Feud, Family Crypto Clash Spook Investors

The presidential-themed $TRUMP memecoin fell 9.3% on Thursday, significantly underperforming the broader crypto market as tracked by the CoinDesk 20, an index covering the largest digital assets, which declined 5%.

The token’s sharp downturn followed a heated public exchange between President Donald Trump and Elon Musk, sparked by disagreements over Trump’s proposed “Big, Beautiful Bill” and its impact on national debt, CoinDesk previously reported.

The argument escalated quickly, with Musk threatening to ground SpaceX’s Dragon spacecraft and Trump countering by suggesting the government might sever contracts with Musk-led enterprises.

Further pressure on the memecoin came after its newly launched crypto wallet, created in partnership with NFT marketplace Magic Eden, went offline following a cease-and-desist from another Trump-affiliated crypto venture.

Trump’s sons publicly distanced themselves from the memecoin project, highlighting their involvement in a separate Ethereum-based DeFi initiative, World Liberty Financial. The internal branding clash added another layer of uncertainty, amplifying investor concerns and weighing heavily on the token’s price.



CRCL Soars on First Day of Trading

Circle (CRCL) shares soared 167% on their first day of trading, closing at $83 after pricing its IPO at $31, briefly hitting an intraday peak of $104. The surge recalls Coinbase's volatile 2021 IPO, which similarly started strong but rapidly lost momentum, raising caution among investors about long-term stability.

The jump in Circle's stock price came amid a modest uptick in stablecoin market activity. Trading volume for Circle's USDC rose 22% over the past 24 hours, while market leader Tether's USDT saw volume increase by 13%. Despite the bullish debut, the coming weeks will test Circle’s staying power as investors assess whether enthusiasm around stablecoin infrastructure translates into sustained stock performance.

U.S. Treasury Sanctions Philippines Firm Linked to $200M 'Pig Butchering' Crypto Scams



The U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctioned Philippines-based tech firm Funnull Technology Inc. and its administrator, Liu Lizhi, for facilitating "pig butchering" crypto scams responsible for over $200 million in losses from U.S. victims, CoinDesk previously reported.

OFAC accused Funnull Technology of providing digital infrastructure, such as IP addresses and domains, used by cybercriminals to host hundreds of thousands of scam websites designed to deceive victims into fraudulent crypto investments.

"Pig butchering" refers to elaborate crypto scams that groom victims over time, often beginning through unsolicited messages and fake romantic overtures, before convincing them to invest significant sums. With these sanctions, OFAC prohibits any U.S. persons from engaging in transactions with Funnull or Liu, aiming to disrupt the networks enabling these extensive cyber scams and to safeguard investors in the digital asset ecosystem.

Market Movements:

BTC: Bitcoin dropped nearly 4% to test the $100K support level before rebounding above $101.5K, as high-volume selling and major exchange outflows signaled growing market stress amid weakening retail activity.

Bitcoin dropped nearly 4% to test the $100K support level before rebounding above $101.5K, as high-volume selling and major exchange outflows signaled growing market stress amid weakening retail activity. ETH: Ethereum dropped 4% after repeatedly failing to surpass the critical $2,640 resistance level, despite increased institutional buying and notable whale accumulation of over $285 million in ETH.

Ethereum dropped 4% after repeatedly failing to surpass the critical $2,640 resistance level, despite increased institutional buying and notable whale accumulation of over $285 million in ETH. Gold: Gold edged higher to $3,363.58 in early Asian trading amid weak U.S. economic data and signs of easing U.S.-China tensions, as the Gold-Silver Ratio surged past 100—a rare signal historically linked to outsized silver returns.

Gold edged higher to $3,363.58 in early Asian trading amid weak U.S. economic data and signs of easing U.S.-China tensions, as the Gold-Silver Ratio surged past 100—a rare signal historically linked to outsized silver returns. Nikkei 225: Asia-Pacific markets opened higher, with Japan's Nikkei 225 up 0.14%, after a positive 90-minute call between U.S. President Trump and China's Xi Jinping set the stage for resumed trade negotiations.

Asia-Pacific markets opened higher, with Japan's Nikkei 225 up 0.14%, after a positive 90-minute call between U.S. President Trump and China's Xi Jinping set the stage for resumed trade negotiations. S&P 500: U.S. stock futures flatlined as a public feud between President Trump and Tesla CEO Elon Musk added uncertainty to market sentiment.

Elsewhere in Crypto:

Asia Crypto News: BTC Bulls Laser Focused on $120K Despite Trump-Musk Turmoil

A woman in Pennsylvania is accused of abusing family ties to steal large sums of cash from her mother’s PNC bank account for personal use.

Grove City Police just arrested 55-year-old Lynn Dewey following a bank fraud investigation, reports 21 WFMJ.

According to the criminal complaint, the senior care provider Quality Life Services contacted authorities after Dewey’s 80-year-old mother, who is unable to care for herself and make financial decisions, lost a substantial amount in her bank account.

The facility’s administrators say that the bank statements from December 2023 to present show that Dewey, who had access to the account, transferred funds using the peer-to-peer money transfer service Cash App.

They also say that the mother has over $16,000 in patient liability, with no payments made since January. Medicaid likewise denied medical assistance due to the old woman’s reported income.

The police say that the suspect admitted using Cash App to move money from the PNC bank account and used the funds to purchase groceries and gas, pay personal credit card bills and send money to relatives.

Dewey says she used $41,671.78 for personal expenses. She is now facing charges for financial exploitation of an older adult and theft.

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$41,000 Drained From Woman’s PNC Bank Account – And Her Daughter Is Now a Suspect: Report

A zero-knowledge (ZK) proof altcoin is skyrocketing after gaining support from the top US-based crypto exchange platform, Coinbase.

In a new announcement, Coinbase says it is adding Lagrange (LA) to its suite of products with an experimental label designated for low-liquidity tokens.

“Lagrange is now live on [Coinbase] in the Coinbase iOS and Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”

After the announcement, LA surged from a price of $0.253 on June 4th to a peak of $1.50 just a day later, a staggering 216% gain during the last 24 hours.

According to its official website, Lagrange aims to enhance blockchain utility by providing an efficient platform for generating zero-knowledge (ZK) proofs, which can be verified as true without revealing the underlying information.

“Lagrange’s ZK Prover Network is the foundational layer that offers universal proof generation for a variety of use cases, such as rollups, ZK coprocessing and cross-chain messaging. It is deployed on EigenLayer and supported by over 85 of the top institution-grade operators who each run several provers to deliver ZK proofs that are requested by users.

Due to the specific architecture of Lagrange’s ZK Prover Network, it is able to support high volumes of proof requests without bottlenecks, and offers high liveness guarantees and a simple interface to engage with.”

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ZK-Proof Blockchain Altcoin Lagrange (LA) Lifts Off Following Announcement of New Coinbase Support

Bitcoin’s price is tumbling as President Trump and Elon Musk’s battle over a trillion-dollar spending bill spirals out of control.

In the last several hours, Trump has threatened to cut Musk’s government subsidies and contracts, while Musk claimed the President is named in the Jeffrey Epstein files.

The turmoil pushed US markets slightly lower, triggered a 14% drop for Tesla (TSLA), and fueled a sharp drop in the price of Bitcoin, from a 24-hour high of $105,733 down to $100,900 at time of publishing.

According to the crypto data aggregator Coinglass, a total of $621.55 million has been liquidated from the crypto markets in just the last four hours alone.

The Trump-Musk meltdown was initially sparked by Musk’s opposition to the Republican tax and spending bill, which passed the House two weeks ago.

Musk called the bill a “disgusting abomination” that would balloon the federal deficit.

The Congressional Budget Office (CBO) estimates the legislation would add $2.4 to $5 trillion to the $36.2 trillion national debt over a decade.

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$621,550,000 in Bitcoin and Crypto Liquidated As Trump-Musk Meltdown Hits Critical Mass

The crypto market is getting redder by the minute as the spat between U.S. President Donald Trump and Tesla CEO Elon Musk intensifies.

Late in the U.S. day, bitcoin

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was down more than 4% to $100,500, threatening to dip back into five digits for the first time in a month.

The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for exchange coins, memecoins and stablecoins — is down more than 5% in the same period of time. SOL and SUI are notable underperformers, printing losses of more than 7%.

Coinbase (COIN) lost 4.6%, Strategy (MSTR) slid 2.4% on Thursday, while a few miners including MARA Holdings (MARA), Riot Platforms (RIOT) and Core Scientific (CORZ) suffered 5% losses.

Musk and Trump’s argument, initially triggered by the potential effects of the “Big, Beautiful Bill” on U.S. national debt, quickly escalated on Thursday afternoon, with the President saying that the SpaceX founder had gone “crazy” and threatening to terminate government contracts for all Musk-led companies.

The world’s richest man, for his part, wrote that Trump was implicated in the Jeffrey Epstein files, stated that SpaceX would decommission its Dragon aircraft, and agreed with a social media post calling on Trump to be impeached and replaced by Vice President J.D. Vance. Tesla (TSLA) stock fell more than 14% on Thursday.

Circle IPO day

Crypto prices were already under pressure on Thursday amid the euphoria surrounding the IPO of stablecoin issuer Circle (CRCL). Those with memories were recalling similar excitement surrounding Coinbase's (COIN) 2021 IPO, which at the time marked an historic top for crypto markets.

Circle, which went public at $31, soared to above $100 at one point Thursday before closing at $83.

Elon Musk and Donald Trump Blowup Dings Crypto Prices

Shares of Circle (CRCL) surged in its first day of trading on the New York Stock Exchange (NYSE), closing at $83 after coming public at $31.

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The stock spiked to as high as $104 after the first trades crossed the board at $69.

For traders and analysts alike, though, the focus now shifts to whether the stock can hold its ground in the days and weeks ahead. Coinbase’s 2021 IPO, which was initially hailed as a watershed moment for the crypto industry, offers a cautionary tale. That stock opened at $381 on Nasdaq, briefly climbed to $430, and then slid below $200 within a month.

Circle’s rise comes alongside a modest bump in activity for the stablecoin market. Trading volume for USDC was up 22% over the past 24 hours, while Tether’s USDT — the largest stablecoin by market capitalization — saw its volume climb 13%.

USDC plays a key role in the crypto ecosystem by providing a dollar-pegged token used for trading, lending and remittances. Thursday’s strong showing may reflect investors’ growing appetite for stablecoin infrastructure as traditional and digital finance continue to converge.

Still, speculative hype has a way of evaporating quickly. The coming weeks will test whether Circle can maintain investor confidence or fall victim to the volatility that has defined so many crypto-adjacent stocks.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Circle (CRCL) News: Stablecoin Issuer's Shares Zoom Higher Following IPO

Analyst Willy Woo is bullish on Bitcoin (BTC) over the long term, predicting the crypto king will massively increase in value relative to the global gross domestic product (GDP).

Woo tells his 1.2 million followers on the social media platform X that Bitcoin could replace gold as “hard money” and could consequently go up 188x in two decades.

“My long-term target for BTC price is not dollars as that continues to be debased. My target is World GDP/21 million. Give or take +/- 50%. It will take the good part of two decades to get there…

…If it takes 20 years to get to equilibrium and the US dollar is still a leading currency, then $20 million per coin +/- 50%.”

In 20 years, the analyst says the global nominal GDP could nearly quadruple from the current level.

“Real GDP growth is 2%, while debasement is 5%.

So if we inflate GDP at 7% per year for 20 years measured in debasing US dollar, that would be $425 trillion or $20 million per coin give or take 50%.”

Over the shorter term, the analyst says Bitcoin is finding it “hard to move up” as there’s a high level of speculative activity in the market.

“NOW is a BAD TIME to take paper bets on BTC.

It’s open season on liquidation hunts due to high levels of betting.

BTC is waiting to purge the bets before the next swing of all-time highs.”

Bitcoin is trading at $105,074 at time of writing.

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Analyst Willy Woo Unveils Bitcoin (BTC) Path to a Potential 188x Rally – Here’s His Outlook

A widely followed crypto analyst is warning traders to stay away from Bitcoin (BTC) in the short term, while updating his outlook on a surging Ethereum (ETH)-based altcoin.

In a new thread, pseudonymous crypto trader Altcoin Sherpa tells his 247,600 followers on the social media platform X that the top crypto asset by market cap has seen “cancerous” price action during the last few days.

“Cancerous price action for BTC the last few days, better to stay away from the market if in active trades (impossible).”

According to Sherpa, the flagship digital asset could dip down to the low $104,000 range if it loses its current support level.

“Still choppy, no real momentum in either direction right now. Still long but pretty small size (still have spot). Wouldn’t be surprised to see the low $104,000 at this point if current level doesn’t hold for BTC.”

BTC is trading for $104,549 at time of writing, a fractional decrease on the day.

Moving on to the S&P 500-based parody memecoin SPX6900 (SPX), the analyst says that its chart appears healthy and that the asset should continue its upward ascent as long as BTC remains stable.

“I don’t care what you people say, that chart is pretty damn incredible given the conditions. This one goes higher in the mid-term as long as BTC is stable, in my opinion.”

SPX is trading for $1.18 at time of writing, a fractional decrease on the day. On May 7th, it was valued at just $0.477.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Trader Warns Bitcoin Is in ‘Cancerous Price Action,’ Says One Ethereum-Based Altcoin That’s Exploded 143% in One Month Will Go Higher

The crypto summer is here, and as the Fear & Greed Index approaches greed territory, investors are on the hunt for the next big token that could deliver impressive returns.

However, that choice is one of the most difficult ones, as numerous projects emerge on a daily basis, making it hard for traders to decide which is the suitable option.

Previous super cycle meme coins have brought the biggest profits, but this time around, utility-based projects are taking the spotlight. That’s why Solaxy ($SOLX) is grabbing all the attention as it combines both with its first Layer-2 solution for Solana.

With just 11 days left until the official launch, see why analysts are bullish about its price and how to join the crypto presale before that surge.

Let’s check out the details below.

Solaxy Launches Solana’s First Real Layer-2 That Will Eliminate Network Frustrations

Solaxy is one of the most talked-about projects this year thanks to its advanced technological abilities. As the first Layer-2 solution for Solana, it aims to fix all the issues that users encounter when trading on this network.

First of all, it allows for much greater scalability and speed, thanks to having another layer built on top of SOL’s mainnet. This way, it ensures that no bottlenecks occur, especially during high-congestion times when failed transactions are more likely to happen.

On top of that, it reduces gas fees to a minimum, making $SOLX a perfect choice for day traders and in bear market times when every dollar counts.

Developers are also ensuring that the project remains fresh and up-to-date, even in its early stages. Recently, they introduced a dedicated block explorer, making it easy for investors to track their tokens.

The official launch date is just 11 days away, and with more than $44.2 million raised, it’s safe to say that this is the valuable project. Investors have the last chance to buy $SOLX at the current price of $0.001746 per token.

Analysts Are Turning Heads with Their Intention for $SOLX

The crypto community is bracing for $SOLX’s launch day, and the biggest crypto specialists are fueling the hype around it.

Experts at InsideBitcoins project $SOLX to hit $0.012456 by the end of 2025, $0.049824 by 2026, and potentially $0.149472 by 2030. They call it the well-positioned presale.

Additionally, analysts from CryptoNews predict that it could reach an average of $0.00879 by the end of 2025 and up to $0.0582 by 2030, representing a potential gain of over 3,100% from its presale price.

SunStar sees in an optimistic scenario that $SOLX could reach $0.0072 with a $500M market cap, and in a best-case scenario, up to $0.0580.

If you add to that that the current staking option brings up to 91% APY rewards, this token could be a very lucrative choice for investors.

Also, the bullish consensus among crypto professionals is creating a sense of urgency among traders to secure their tokens at the current low prices.

This Could Be the Smart Crypto Choices – Here’s How You Can Still Join

While the clock is ticking, there is still time left to join the presale before the $SOLX officially launches on major exchanges, and here is the step-by-step guide:

Step 1: Create Your Crypto Wallet

First, you’ll need to create a crypto wallet that is compatible with Solaxy’s presale. We recommend using Best Wallet, as it supports more than 60 blockchains simultaneously and features a user-friendly interface, making it easy for beginners to progress to the next step.

Step 2: Buy Ethereum or Tether

You will have to hold ETH or USDT in your crypto wallet to join the presale. Calculate how many of those coins you need for the desired amount of $SOLX tokens. Once you secure that amount, you can move forward.

Step 3: Connect Your Wallet to Solaxy’s Presale

This step is the easiest one; all you need to do is go to the official website. Click “Connect Wallet” on the widget and follow the prompts that will grant access to your connection.

Step 4: Buy $SOLX

Once you’ve completed all of that, you can easily obtain the tokens by selecting the number of ETH or USDT you want to swap for them. All you need to do is click “Buy $SOLX” when you are ready to complete the purchase.

If you have any questions regarding the project, you can ask the developers directly on the official X and Telegram pages.

Don’t Miss Out On This Opportunity

Investors are in a frenzy to find the next big token that could secure their tickets to early retirement and are focusing on real utility projects with long-term growth potential.

Solaxy ($SOLX) introduces an innovative Layer-2 solution for Solana, designed to address major network issues such as congestion and high fees, making it a practical option for both traders and developers.

If you’re looking to get in early on a high-utility token with serious profit potential, now’s the time to join before the presale officially ends.

The question is whether the mysterious whale holding $400 million worth of ETH will continue to hold onto their investment or if they will make a significant move in the market that could have a major impact

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