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Analyst: Bitcoin HODLers Start Taking Profits, This Group May be Calling the Top

4 hours ago

On May 17th, the on-chain data analyst Murphy posted on social media that recently, the average cost of Bitcoin Long-Term Holders (LTH) has witnessed a sudden and rapid increase. The 7-day cost change rate has reached 9.57%. This situation occurred not only due to some Short-Term Holders (STH) converting their high-cost chips into LTH but also because some low-cost long-term chips were sold, resulting in an overall cost increase. Currently, the average cost of LTH is around $31,000, indicating that a significant amount of chips priced below $31,000 have been sold, leading to a rapid rise in the overall cost. Murphy further explained that LTH holders, known as "Diamond Hands," usually trade very rarely. Their selling actions are mainly based on "panic" or "hedging." In the current situation, there is no "panic," so it is possible that LTH holders may feel that the price is approaching what they perceive as the top and are starting to gradually exit (LTH's judgment may also be wrong).
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CryptoQuant: Indicator Shows Future ETH Gains May Outpace BTC, Altseason Could Be Imminent

On May 17th, a new report from CryptoQuant indicated that ETH has quietly dropped to a historically rare range. A market signal shows that ETH is severely undervalued compared to BTC. This signal stems from Ethereum's ETH/BTC market value-to-realized value (MVRV) ratio, which is used to measure a relative valuation indicator of market sentiment and historical trading patterns. Historically, whenever this ratio has reached similar low levels, ETH has witnessed significant price increases and outperformed BTC by a large margin. CryptoQuant believes that investors seem to have become aware of this. With a sharp increase in the demand for ETH ETFs, the proportion of ETH held in BTC ETFs has risen significantly since the end of April. This shift in allocation indicates that institutional investors expect ETH to outperform BTC, possibly due to recent protocol upgrades like EIP-1559 or a more favorable macroeconomic environment. CryptoQuant suggests that the current ETH/BTC price ratio has re

28 minutes ago

A new address withdrew 1.79 trillion PEPE coins from Binance.

On May 17th, as monitored by Onchain lens, a newly established wallet has just withdrawn 1.79 trillion PEPE from Binance, with a value of $22.22 million.

28 minutes ago

Binance Announces Alpha User REX Airdrop Claim Rules

On May 17th, according to official channels, eligible users who possess at least 196 Binance Alpha Points can commence claiming an airdrop of 3,935 REX tokens on the Alpha Activities page starting from 7:00 UTC on May 17th, 2025. It should be noted that claiming the REX airdrop will consume 15 Binance Alpha Points. Users are required to confirm the claim on the Alpha Activities page within 24 hours (before 7:00 UTC on May 18th, 2025); otherwise, it will be regarded as a waiver of the claim.

28 minutes ago

The blockchain game Nyan Heroes has announced that it will cease operations, despite having garnered over 250,000 player pre-registrations.

On May 17th, according to an official statement, due to the fact that the latest product failed to reach the anticipated user base and in combination with the numerous challenges faced by the current Web3 market environment, the blockchain game Nyan Heroes was unable to obtain the funding required to maintain the studio's operations and ultimately made the decision to cease operations. It is reported that Nyan Heroes received over 250,000 player reservations on the Epic and Steam platforms, and the four testing events attracted a total of over 1 million players. The game had appeared on Epic Games' popular and most-played lists multiple times and received coverage from traditional media such as IGN, Business Insider, and Game Rant. Despite discussions by the project team on options like distribution, new investment, grants, and acquisition, they were ultimately unable to raise the necessary funds to complete game development.

28 minutes ago

A whale address sold 5 million FARTCOIN at an average price of $1.18.

On May 17th, as monitored by Onchain Lens, a whale address sold 5 million FARTCOIN at an average price of $1.18 and exchanged it for 5.92 million USDC.

28 minutes ago

24-Hour Spot Funding Flow: BTC Net Outflow of $194 Million, SOL Net Outflow of $52.68 Million

On May 17th, according to Coinglass data, the top net inflows of funds in the cryptocurrency spot market within the past 24 hours are as follows: There is a net inflow of $152 million in USDT; There is a net inflow of $13.67 million in USDE; There is a net inflow of $10.65 million in FORM; There is a net inflow of $8.38 million in EUR; There is a net inflow of $3.67 million in UNI. The top net outflows of funds in the cryptocurrency spot market are as follows: There is a net outflow of $194 million in BTC; There is a net outflow of $113 million in USDC; There is a net outflow of $57.5 million in XRP; There is a net outflow of $52.68 million in SOL; There is a net outflow of $21.81 million in DOGE.

28 minutes ago

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