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The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by 60% in the past 24 hours and boasting a remarkable 306% increase since November 5.

Its current market value has reached $150 million, positioning it as a promising contender in the crypto space.

One of the largest holders of Cheems, *christian2022.eth* (Twitter handle: @Christianeth), has increased their position to a staggering $7.22 million, accounting for 3.8% of the token’s total supply. Notably, 92% of these holdings were migrated from zkSync on September 28. Over the past month, Christian has spent 323 WBNB to amass an additional 650.6 billion tokens.

Christian is confident in Cheems’ potential, predicting it will soon surpass @blast and close the gap with @zksync, whose market value is currently 2.5 times higher. With its growing momentum and dedicated community, achieving this milestone seems increasingly likely.

Reflecting on the past year, Cheems emerged as a leading asset in the zkSync ecosystem, drawing nearly 100,000 users and fostering a vibrant community. However, despite its contributions, it often faced neglect and unfair treatment.

The move to BSC has transformed its trajectory. For the community, feeling valued has reignited a sense of purpose and determination. This renewed belief is fueling resilience through market fluctuations, driving Cheems toward new heights. With an empowered community at its core, Cheems is poised to write its own legendary success story.

The Cheems phenomenon highlights the impact of a strong ecosystem and engaged users, proving that with the right platform, even overlooked assets can thrive.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Cheems Surge On BSC Network: A Rising Star With Growing Market Value appeared first on The Merkle News.

The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market capitalization at a mere $32.7 million.

This sharp decline came shortly after the official Twitter account announced that Lester would continue as the project’s mascot.

Prominent investor @bazingahappy has felt the impact of the downturn. On March 15, they invested $2.3 million in $BOME and, on November 15, spent 3,217 SOL (equivalent to $670,000) to purchase 4.37 million $LESTER tokens. However, the recent slump has wiped out $530,000 from their holdings, shrinking their investment by a staggering 78.7%.

More Whales Make Strategic Moves With $LESTER Token Following Recent Price Action 

Despite these losses, @bazingahappy doubled down on $LESTER after the mascot confirmation 13 hours ago, acquiring an additional 10.2 million tokens. At an average cost of $0.07752 per token, this move highlights a calculated risk in the face of market volatility.

Interestingly, while $LESTER’s performance has been disappointing, @bazingahappy has demonstrated notable success in other ventures. Their high-frequency trading in memecoins has proven lucrative, with a single trade in $PNUT yielding over $10 million in profit.

The mixed fortunes of $LESTER underscore the unpredictable nature of the memecoin market, where sentiment-driven swings can lead to substantial gains or losses. While some investors remain optimistic about $LESTER’s long-term potential, the mascot announcement and subsequent sell-off suggest challenges ahead in regaining investor confidence.

For now, the market remains wary, with $LESTER facing an uphill battle to recover its value. Whether the community can rally behind the mascot and revive momentum remains to be seen.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Lester Token Crashes 40% Following Official Announcement appeared first on The Merkle News.

In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin $Quant, selling all 51 million tokens for 128 SOL ($30,000) and pocketing a profit of $29,600.

However, the tokens he sold are now worth a staggering $4 million, leaving the community both amazed and infuriated.

Xiaohaige’s audacious move unfolded live, where he celebrated his 8,457% return by flipping off viewers. This brazen act angered the community but spurred $Quant’s meteoric rise. Following the incident, $Quant’s CTO stepped in, and the coin’s market value surged to $77 million. Meanwhile, netizens discovered Xiaohaige’s real identity, sending memecoins to his family in protest.

Undeterred by the backlash, Xiaohaige replicated his strategy with two new tokens, $Lucy and $Sorry, earning an additional $24,000 in profit. His antics highlight the high-risk, high-reward nature of the memecoin market, where quick flips can yield immense gains but spark community outrage.

Influential Investors Move $QUANT Price Action 

Notably, $Quant’s surge was driven by influential investors. Key addresses holding positions in the TOP 2, 3, 4, 6, and 10 rankings collectively spent $56,400 within seven minutes to purchase 4.7% of the total supply after Xiaohaige’s sell-off. Their strategic acquisitions stabilized the token’s value, leading to profits exceeding $2.92 million.

While Xiaohaige missed out on nearly 10,000x returns by selling too soon, his ventures underscore the volatile, unpredictable nature of memecoins. The $Quant saga serves as a cautionary tale of both missed opportunities and the power of community-driven momentum in the ever-chaotic crypto landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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The post From $30K To Millions: The Wild Journey Of $Quant And Xiaohaige’s Memecoin Stunts appeared first on The Merkle News.

The crypto whale known as “convexcuck.eth” has made waves in the DeFi world, spending $2 million to acquire 709,961 $CVX tokens just 11 hours before the token’s price skyrocketed by 61%.

This strategic move marks the whale’s return to Convex Finance after a hiatus of over a year.

Between July 2021 and March 2022, the whale actively traded $CVX, earning a massive $20.2 million profit with a 129% return on a 1.098 million $CVX trade.

After 1.67 years of inactivity, “convexcuck.eth” resumed $CVX trading on November 8, purchasing 1.9 million tokens for $4.37 million at an average price of $2.297 per token.

As of now, the whale holds an unrealized profit of $595,000, a 13.6% increase on this investment.

Whale “convexcuck.eth” spent $2M to buy 709,961 $CVX 11 hours ago, just before the price soared by up to 61% today!

Between July 2021 and March 2022, this whale traded 1.098M $CVX, earning a $20.2M profit (+129%) from that first trade.

After 1.67 years of inactivity with $CVX,… pic.twitter.com/todg0Z9HAx

— Spot On Chain (@spotonchain) November 20, 2024

Convex Finance, the protocol behind $CVX, plays a pivotal role in the decentralized finance ecosystem. With a Total Value Locked (TVL) of $1.1 billion, it offers enhanced staking rewards through its Boosted Staking feature. Convex supports key DeFi protocols like Curve Finance, Frax Finance, Prisma Finance, and Protocol FX, making it a vital hub for liquidity providers seeking optimized yields.

This latest purchase by “convexcuck.eth” reflects the growing confidence in Convex Finance’s ecosystem and its potential for continued growth. The whale’s strategic timing—buying before a major price rally—highlights their expertise in navigating the volatile DeFi landscape.

As $CVX continues to gain traction, the actions of prominent investors like “convexcuck.eth” demonstrate the ongoing allure of DeFi protocols that offer innovative solutions and competitive rewards for the crypto community. The surge in $CVX may signal a renewed wave of interest in Convex Finance and its ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Whale “convexcuck.eth” Makes Bold $CVX Move, Nets Significant Profit Amid Price Surge appeared first on The Merkle News.

The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked controversy following allegations of insider trading and large-scale token dumps.

The announcement claimed to “free” $eliza by replacing it with $ELIZA, but the transition has left the crypto community reeling.

At 06:01:41 UTC, wallet “FEbv…4ZcW” deployed $ELIZA. In a suspiciously well-timed move, an individual used 10 wallets to purchase 69.05 million $ELIZA—worth $5.2 million today—for just 2.07 $SOL ($503) at the moment of deployment. These tokens were subsequently transferred to new wallets but have yet to be sold.

The wallet “GxkX…W2Yg,” suspected to belong to Logan (@futjr_), is under scrutiny for offloading a significant amount of $eliza before $ELIZA’s launch.

Logan’s wallet then spent 24.2 $SOL ($5,900) to acquire 233.12 million $ELIZA, currently valued at $17.67 million, making it the largest holder of the new token. The wallet is linked to the $ELIZA deployer, raising questions about insider involvement.

$ELIZA Insider Information And Trading 

Further complicating the situation, several wallets purchased $ELIZA before its official announcement on Discord, sparking speculation of insider trading. One wallet, “ExYQ…vNw,” spent 7.84 $SOL ($1,900) to buy 89.19 million $ELIZA and sold 53.47 million tokens for 7,865 $SOL ($1.91 million). This resulted in a staggering 2,446x return, earning $4.66 million in mere hours.

What happened to $eliza and $ELIZA?

AI16z partner @shawmakesmagic tweeted that they freed $eliza and deployed a new token called $ELIZA!

Many insiders bought a massive amount of $ELIZA and dumped it!

1/ Let’s dive in! pic.twitter.com/wAhbFlUviP

— Lookonchain (@lookonchain) November 19, 2024

Insiders dumping $ELIZA on retail investors have fueled outrage within the community, overshadowing the token’s launch. While $ELIZA’s price surge has generated profits for early buyers, allegations of unethical practices highlight ongoing challenges of transparency and fairness in the crypto space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

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The post $ELIZA Token Launch Marred By Insider Trading Allegations appeared first on The Merkle News.

Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin pack and approaching its 8-month high.

Its ADA-to-BTC ratio is also climbing to levels not seen in months, underscoring the token’s recent strength.

The rise of real-world asset (RWA) tokenization is reshaping the decentralized finance (DeFi) landscape, creating a vital link between traditional finance (TradFi) and blockchain technology.

This innovative approach integrates tangible, stable assets into DeFi ecosystems, offering investors new ways to diversify and grow their portfolios.

RWA tokenization brings several transformative benefits:  

– Portfolio Diversification: By tokenizing assets like real estate and commodities, investors gain access to stable and tangible options, balancing the volatility of cryptocurrencies.

– Volatility Hedge: RWAs offer a safeguard against the unpredictable nature of crypto markets, as their value is grounded in real-world fundamentals.

– Global Accessibility: Tokenization democratizes opportunities, making investments that were once exclusive to institutions accessible to a global audience.

Why Real-World Asset Tokenization Matters in DeFi

Real-World Asset (RWA) tokenization is transforming the DeFi space by creating a seamless bridge between traditional finance and blockchain technology. This innovation allows investors to:

The meme coin market is experiencing a remarkable resurgence, surging 84% in value and capturing the attention of investors worldwide.

With market capitalization leaping from $55 billion to $100 billion, and Bitcoin ($BTC) reaching an unprecedented $95K post-election, meme coins are proving to be more than just a passing trend.

🚀 Week in Meme Coins: Doge Goes to Washington, $PNUT Goes Berserk.

Meme market soars 84%!$DOGE up 129% on Elon govt role!$BTC hits $95K!

Let's unpack this insane week in memes 🧵

1/6 pic.twitter.com/ukQIWPYpHw

— CoinMarketCap (@CoinMarketCap) November 19, 2024

Market Highlights

The entire meme coin sector is in the green, with all top 20 tokens posting gains. Data from DeFiLlama reveals a 143% monthly increase in the sector’s valuation. Leading the charge, $DOGE has skyrocketed by 129%, fueled by Elon Musk’s recent appointment as the head of the Department of Government Efficiency (DOGE). Tokens associated with Musk have seen their combined market cap climb to an impressive $45 billion.

Cross-Chain Performance

Among the standout performers, $DOGE leads with a 129% increase, while PepeCoin follows closely with a 111% surge. Solana’s AI Prophecy token has witnessed an extraordinary 1,199% gain, and Sui’s UNI token has climbed 322%. These cross-chain successes underscore the growing influence of meme coins across multiple ecosystems.

Innovation in Memecoins

The week also saw significant developments in the meme coin space. Cobie burned $17 million worth of UPONLY tokens, while FOMO3D launched with an unprecedented 95% investor ownership model. Binance and Coinbase further bolstered the sector by introducing their own meme tokens.

Despite these gains, meme coin activity remains subdued compared to previous peaks, suggesting retail interest hasn’t fully returned to the crypto market. However, the sector’s explosive growth indicates a strong foundation for future enthusiasm, with meme coins continuing to serve as a barometer for retail engagement in crypto.

As the market evolves, meme coins remain a dynamic and essential part of the crypto narrative.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

The post Meme Coins Soar as Market Hits New Highs appeared first on The Merkle News.