The popular cryptocurrency-powered Brave browser has surpassed 30 million daily active users (DAU) as it continues to see month-on-month growth while focusing on growth and retention. That’s according to Brave’s co-founder and CEO Brendan Eich, who in a post on the microblogging platform X (formerly known as Twitter) revealed that Brave’s daily active users are
On-chain data shows three altcoins are observing a high transaction activity from the whales after the US Federal Reserve (Fed) announced a rate cut. Whale Transaction Count Has Spiked For These Altcoins Recently In a new post on X, the on-chain analytics firm Santiment has discussed the Whale Transaction Count trend for three altcoins. The “Whale Transaction Count” here refers to an indicator that keeps track of the total number of transactions taking place on a given cryptocurrency network that involves a value of more than $100,000. Transfers of this scale are typically associated with whales, the largest entities on the network, so the indicator’s value can provide hints about the current activity from this cohort. Related Reading: Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000 When the value of this metric is high, it means the whales are making a large amount of moves right now. Such a trend implies these humongous holders have an active interest in trading the coin. On the other hand, the indicator having a low value suggests this group may not be paying too much attention to the asset at the moment as they aren’t making that many transfers. Now, here is a chart that shows the trend in the Whale Transaction Count for three altcoins, Immutable X (IMX), Fantom (FTM), and Basic Attention Token (BAT), over the last few weeks: As displayed in the above graph, large spikes in the Whale Transaction Count have been observed for all of these altcoins over the last couple of days. This would suggest that the whales have suddenly become very active on these networks. The timing of the spikes would mean this activity is likely related to the interest rate cut announced by the Fed. While the high values indicate a surge in trading interest from the whales, the Whale Transaction Count alone can’t tell us what sort of trades these humongous investors are making exactly. Buying and selling transactions both look the same from the perspective of the indicator, and thus, carry the same weightage in its count. What can provide hints about whether accumulation or distribution is dominant, though, is the surrounding price action. Bitcoin and the altcoins as a whole, including Immutable X and company, have surged since the Fed announcement, so the increased whale activity could be associated with buying. Related Reading: Will Bitcoin Bullish Swing Continue? Top Analyst Says Yes Naturally, any further spikes in whale activity aren’t necessary to be bullish, but Santiment notes that if Bitcoin and others continue to grow, then these altcoins can also thrive off a high Whale Transaction Count. IMX Price Immutable X has continued the latest bullish push during the last 24 hours with another surge of almost 10%, which has taken its price to $1.58. The below chart shows how the recent performance of IMX has been like. Featured image from Dall-E, Santiment.net, chart from TradingView.com
The cryptocurrency market has seen significant movements recently, particularly in certain altcoins. Insight from Santiment indicates a surge in whale activities in specific cryptocurrencies. Following the Federal Reserve’s rate cuts,
The post Whale Activity Surges for Fantom, Immutable X, and BAT After Fed Rate Cut appeared first on Coinpedia Fintech News The recent interest rate cuts by the Federal Reserve have triggered a surge in whale activity for key altcoins like Fantom (FTM), Immutable X (IMX), and Basic Attention Token (BAT), according to Santiment, a leading market intelligence platform. Over the past day and a half, these altcoins have seen a significant rise in transactions made …
Brave Software has recently announced a significant reduction in its workforce, laying off 27 employees, or approximately 15% of its total staff. This marks the second wave of job cuts The post Brave Software Layoffs: Impact on Basic Attention Token (BAT) Amidst Growing Competition appeared first on COINOTAG NEWS .
Brave Software, renowned for its privacy-centric browser, has recently implemented significant layoffs affecting 27 employees across various departments. This strategic move accounts for about 14% of its estimated workforce of The post Brave Software Announces Layoffs Amid Challenges as Basic Attention Token (BAT) Faces 91% Decline appeared first on COINOTAG NEWS .
Key takeaways: Basic Attention Token (BAT) is one of the cryptocurrencies that took the crypto space by surprise at launch after completing its ICO in minutes. This project promised to make massive improvements in digital advertising and related fields. The BAT community can earn and use BAT in the Brave browser. They’re making crypto and
A crypto analytics platform says that two under-the-radar altcoins are flashing bullish signals as fear, uncertainty, and doubt (FUD) centered around digital assets rise. According to new data from market intelligence firm Santiment, low-cap altcoins such as decentralized finance (DeFI) platform Balancer (BAL) and decentralized application builder Chromia (CHR) are primed to see gains after The post These Two Low-Cap Altcoins Are Flashing Bullish Signals Amid Heightened FUD, Says Analytics Firm Santiment appeared first on The Daily Hodl .