Hot Developments Are Available For These 8 Altcoins! Whales Are Active Too

The cryptocurrency market is struggling to find direction due to the opposite winds. Enthusiastic with Grayscale’s SEC victory, the market bounced back its gains as the SEC delayed spot Bitcoin ETF decisions. However, altcoin projects continue to form partnerships and develop themselves. Also, although the market is quiet, the whales are quite active!

There are important news from altcoin projects…

Launching on USDC Base and Optimism network

Stablecoin issuer Circle is officially distributing USD Coin on Base and Optimism networks. Thus, it opens the door to wider funding options and use cases for USDC holders. According to the announcement on September 5, users of both networks will be able to use USDC locally without having to rely on bridged versions of the stablecoin. Circle also notes that it is working with “ecosystem partners” to ensure that all bridged versions of the stablecoin can be replaced with the native version.

Visa launches stablecoin settlement capabilities on Solana

Global payments giant Visa has announced that it is expanding its stablecoin payment capabilities to include Solana. Visa will begin testing the deal with two major payments firms, WorldPay and Nuvei, according to a press release on Sept. Initially, when users make digital payments, Visa will receive funds from their treasury. Next, it will send them to the seller’s bank. Following its partnership with Circle, the payments company began transferring the stablecoin from Visa’s treasury to traders’ escrow.

Wirex partners with this altcoin

Wirex is the cryptocurrency payment leader with over 6 million users. Now it’s making great strides with the payments-focused App Chain (W-Pay). In this direction, it is collaborating with Polygon’s Blockchain Development Kit (CDK). Thus, this ambitious initiative is revolutionizing cryptocurrency payments. Recent technical developments have made Polygon Blockchain technology a leader and innovator in the cryptocurrency industry. Wirex uses this technology because of its potential. Thus, developing a Layer-2 (L2) Blockchain for payments

The giant whale emptied the altcoin it collected from Binance in OKX

As you follow on Kriptokoin.com, altcoin project Livepeer (LPT) has experienced an extraordinary rise. The project is a decentralized video streaming network. In its latest move, LPT has become the top-earning altcoin among the top 200 cryptos in 30 days. In the midst of these developments, a giant whale dumped the LPTs it had previously collected from Binance on OKX. Whale code 0x475 invested 250,000 Livepeers (LPT) ($1.9 million) on the stock market and then sold all of it. By the way, let’s mention that this whale bought these tokens from Binance 13 days ago. Therefore, the whale seems to have profited well from the price rise.

Livepeer posted 99.1% gains in 30 days, although performance metrics were mixed across various time periods. This points to increased investor interest and technological promises. The altcoin project’s 30-day rise has made it a major competitor in the crypto world. However, its mixed performance in other timeframes warrants cautious optimism.

Santiment: Volume and mention are tops for this altcoin

Analytics platform Santiment shared that Flamingo has reached its highest level in the last five weeks in mentions on social media. Meanwhile, the altcoin project’s token, FLM, peaked by 79% on the day. In addition, the trading volume of the token has also increased significantly. Thus, he reached the peak he saw in June 2022.

The rise in FLM. Source: Santiment

Binance changes FLM and BLZ funding rates

The world’s largest crypto exchange Binance has made a change regarding its Flamingo (FLM) and Bluzelle (BLZ) futures contracts. In this context, Binance has announced the funding rate settlement frequency of “Binance Futures, USDⓈ-M FLMUSDT and USDⓈ-M BLZUSDT Perpetual Contracts for two altcoin projects, starting at 05.09.2023 21:15 and 21:30, every eight hours instead of every eight hours. one will increase.” made the statement. Meanwhile, the crypto exchange stated that existing positions opened prior to the update will also be affected. That’s why he recommended adjusting the position and leverage before adjusting to avoid a possible liquidation.

Ethereum whales don’t stop

The cryptocurrency market has a stagnant outlook. Leading crypto Bitcoin and leading altcoin Ethereum continue their way in the narrow trading range. However, crypto whales see this as a buying opportunity. In this context, crypto analyst Ali Martinez draws attention to the activity of Ethereum whales:

Ethereum whales appear to have bought 260,000 ETH worth around $425 million in the last 24 hours.