Altcoin News Daily Official TheBitTimes.com

Blockchain tracking firm Lookonchain says crypto whales are taking massive memecoin trades amid the market downturn. According to Lookonchain, one unlucky whale is now seeing red after once having made $11.8 million in profit on President Donald Trump’s memecoin, Official Trump (TRUMP). “This whale who made a $11.8 million profit on TRUMP spent another $33.9 million to buy 766,083 TRUMP at $44.25 and has now lost $21 million. He lost all his profits and over $9 million of his initial capital!” TRUMP is trading for $17.61 at time of writing, down 5.1% in the last 24 hours. Next up, Lookonchain reports a crypto whale just scooped up a massive amount of Melania (MELANIA), the official memecoin of Melania Trump, wife of US President Donald Trump, after the altcoin bounced off a low of $1.39. “A mysterious whale created a new wallet [Tuesday] and withdrew 10 million USDC from Binance to buy 6.69 million MELANIA at $1.50.” MELANIA is tra...

Edited by WuBlockchain Recently, Bybit held an online media conference where CEO Ben Zhou and Shunyet Jan, Head of Institutional and Derivatives Business, shared updates on Bybit’s current development and outlook. Below is a summary of WuBlockchain’s notes: Thoughts on the polarizing performance of VC tokens and memecoins Currently, there is a palpable skepticism toward “VC tokens,” as many perceive them as “pump and dump” schemes — projects packaged with VC capital that are quickly cashed out. VCs have gradually lost their reputational value in the crypto space, with “VC” often evoking negative connotations. This model feels overly traditional. On the other hand, the memecoin phenomenon is fascinating. Many memecoin projects are entirely community-driven, with founders often holding little to no tokens, funds, or resources. For example, some teams operate on minimal budgets and have no token reserves, yet manage to attract attention through sheer community enthusiasm. They distribute ...

Bots are front-running other bots in the hopes of front-running meme coin traders. Welcome to the degenerate world of Ethereum layer 2 tokens. Posting to X (formerly Twitter), meme coin trader GK screenshotted four examples of traders building bots to front-run other meme coin traders’ bots. Specifically, a bot is executing an identical sequence of layer 2 blockchain actions across various meme coins on Base, the Coinbase-operated layer 2 atop Ethereum’s layer 1 blockchain. (A layer 2 is a more centralized version of a regular, layer 1 blockchain.) Hahahaha there's a guy on Base launching the most low-effort shitters, adding .8e of liq, then rugging for ~1e around 10min later over, and over, and over again. At first I was pissed but then I realized he's stealing money from launch bots, and it's quite funny pic.twitter.com/hBoPiKjsea — GK (@Grypto_GK) March 21, 2024 Front-running meme coins This clever actor deposits a small amount of capital into a liquidity ...