Ethereum Whales Change Attention To New 100x Altcoin! Can Cardano Turn Things Around?



Screenshot%202024 06 10%20at%2016.37.11

Two major updates have been shaking up the crypto-verse for some days now. First is the $32.96 million move by Ethereum (ETH) whales and what their next steps could mean for the market. Second, a new altcoin, Raboo and its $RABT tokens are taking over the crypto market, and its staggering presale success suggests it could be the next cash spinner for investors.

Some analysts speculate that both updates may be somewhat connected, as ETH Whales might be angling at the newcomer Raboo for their next big catch. Others have made a case for Cardano, as its ADA tokens are regular beneficiaries of such moves.

But Cardano could turn the tides from Raboo and direct the whales towards its shores.

Let’s talk about Whales.

Ethereum whales and the famed $32 million move

For some, the recent developments in Ethereum represent a major incentive to stay and cash in on its upward price movements. For example, SEC greenlighted Ethereum’s ETFs signals more ease of access as investors may now purchase Ethereum ETFs through traditional brokerages. Equally, the new Ethereum Improvement Proposals, as announced by ETH educationist Anthony Sassano, signposts the massive benefits that could follow ETH’s Pectra upgrade.

Though the Pectra fork is scheduled for the first quarter of 2025, one would expect more demand for ETH ahead of the launch. Not quite the case.

Instead, an Ethereum Whale moved a whopping $32.96 million out of ETH into a Coinbase account. Whale Alert tweeted that $32.96 million, representing 8,759 ETH, was transferred from an unknown wallet to ETH. Transfers of this magnitude could signal a potential investment into another treasure trove in the crypto-verse.

In a similar move, less than 72 hours later,WuBlockchain announced that an ancient crypto had moved $67,000 worth of ETH to Kraken, leading to 2.89% down in the last four hours for crypto.

Has Cardano lost its charm?

Cardano has experienced large whale transactions in the past, including one worth more than $100,000. It’s experiencing the highest level of whale activity since November 2023.

Yet, Cardano is ducked in stagnation, with its native token ADA ranked among the least performing tokens in the market. In the past months, ADA had sold below $0.50, which is a far cry from its $3.10 high in September 2021.

Analysts attribute this to two main reasons. First, ADA investors have run out of patience with Cardano, especially in view of how its developers focus on building robust ecosystems instead of churning out upgrades and creating more practical applications and improved functionality for its investors.

Secondly, ADA has been on a bearish run caused by factors in the crypto market, especially price movements by the mammoth crypto coins, Bitcoin and Ethereum. When such happens, ADA’s red takes a deeper plunge and has, for a long time, remained so.

Raboo in the meme-iverse of profits

Flanked by its super combo of artificial intelligence and memecoins, Raboo is taking the cryptomarket by the storm. It touts as a memecoin with a difference, and with the staggering success recorded in its presale rounds, who are we not to believe it?

Raboo’s innovative SocialFI integration and post-to-earn model have content creators queuing up for cash in on the project. As social media becomes a staple, Raboo presents an opportunity for users to monetize their social media content and earn $RABT tokens as rewards.

Its functionalities combine to create an exciting meme experience that keeps users engaged while fostering a vibrant crypto community. This is all thanks to its Rabooscan that scours social media platforms for the latest memes and updating the community with its meme summaries. Rabooboasts a reward system that incentivizes its community to collaborate and keep Raboo memes at optimal value.

It is glaring why the ETH whales may be angling around for $RABT tokens. To be fair, who wouldn’t?

Conclusion

As ETH and ADA prices continue to fluctuate, investors might want to consider a more stable project with huge potentials and utility. Raboo ($RABT) fits into this description, and many analysts are already watching it closely.

$RABT tokens are in Stage 4 of their presale and selling at $0.0048 each. This price is up 60% from Stage 1 and could shoot up any time soon.

You can participate in the Raboo presale here.

Telegram: https://t.me/RabootokenPortal

Twitter: https://twitter.com/Raboo_Official

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice. 





Source link

About The Author

Scroll to Top