Ethereum Co-Founder Sells $ETH

Alpha-Team
February 12, 2024

📉 Ethereum Co-Founder Sells $10.7M ETH

Ethereum Sale Raises Concerns: Ethereum co-founder Jeffrey Wilcke sold 4,300 ETH ($10.7M) to Kraken. This move led to market concerns about a potential downturn, echoing a past trend.

Expert Optimism Despite Sale: Analyst Adrian Zduńczyk remains optimistic, citing Ethereum's bullish trend. He predicts a potential price target of $3,400, based on technical patterns.

Broader Market Factors in Play: While the sale might add selling pressure, Ethereum's price trajectory is expected to be influenced by broader market dynamics and its robust technical indicators. Read More.

️ On today's Top Picks:

🚀 Bitcoin breaks $50K.
⚖️ Elon Musk ordered to testify.
🪦 Skiff sunsets amid acquisition.
🔓 Sandbox token unlock worth ~$97M.

Read time: ⏰ 5 minutes

Crypto News

• ⭐️ Bitcoin breaks $50K for the first time since December 2021.

• FTX sells Digital Custody Inc. to Coinlist for $500K after acquiring it for $10M in 2022.

• US SEC reportedly faces exodus of senior enforcement lawyers in its crypto assets and cyber unit.

• Coinbase Chief Legal Officer does NOT expect US SEC legal case against them to be dismissed.

• Gemini Earn bankruptcy hearing date moves to February 26th.

• Metaco CEO & CPO leave firm nearly 1 year after it was acquired by Ripple.

• Ethiopia attracts Chinese mining companies with cheap electricity costs.

Alpha

• Aave V3 launches on Scroll Mainnet.

• SEI $SEI co-founder posts, "Gm Seiyans big things coming soon," on X.

• Hyperlane Community Call today at 1900 UTC.

• Forge Season 1 is live.

• Layer N by Alpha Insiders.

• Fleek testnet by mztacat.

Airdrops

• Voyager posts Starknet $STRK airdrop webpage on X.

• Covalent CEO posts, "$CQT stakers eating well tonight..," in regards to Wormhole $W tokenomics.

• Mocaverse potential airdrop by Airdrop Official.

• Upcoming Airdrop events by Airdrop Official.

Finance News

• US January CPI & PPI data to be released this week.

• ⭐️ Elon Musk ordered to testify by US SEC over potential violations with his purchase of X in 2022.

• ⭐️ Skiff sunsets for 6 months amid acquisition by Notion.

Security and Exploits

• SlowMist Weekly Security Report highlights ~$31.16M in losses.

• Kyber Exploiter who originally hacked Kyber for $46.7M continues to move funds.

Token Unlocks

• Cyber / 2.36M $CYBER / ~$18M / FEB 13
⭐️ • Sandbox / 205.59M $SAND / ~$97.3M / FEB 14
• Euler / 98.36K $EUL / ~$422K / FEB 15
• Flow / 2.6M $FLOW / ~$2.2M / FEB 15
• ApeCoin / 15.6M $APE / ~$22.5M / FEB 16
• Nym / 3.21M $NYM / ~$604K / FEB 17
• Manta / 6.67M $MANTA / ~$19M / FEB 18
• Oasis / 171M $ROSE / ~$21M / FEB 18

Funding

• Analog, a Layer-0 blockchain for event data; raises $16M in funding led by Tribe Capital.

• Truflation, an inflation data aggregator; raises $6M in funding led by Laser Digital and Red Beard Ventures.

• The Mystery Society, a web3 social deduction game; raises $3M in Seed funding led by Shima Capital.

• IntentX, a perpetuals DEX; raises $1.8M in Strategic funding led by Selini Capital.

• Hydro, an Injective-native LSD+LSDFi protocol; raises an undisclosed amount in funding.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOL	ASSETS	APY
Notional V3 (Arbitrum)	NUSDC	64.18%
Turbos (Sui)	USDTUSDC	52.69%
Abracadabra (Arbitrum)	MIMUSDCUSDT	51.81%
Jones DAO (Arbitrum)	JUSDC	46.95%
Beefy (Arbitrum)	MIMARBUSDCEUSDT	45.55%
Aerodrome (Base)	DOLAUSDC	43.11%
Convex Finance (Ethereum)	IDAIIUSDCIUSDT	38.91%
Curve DEX (Ethereum)	IDAIIUSDCIUSDT	37.72%