Tag: Tokens
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Alameda wallets sell multiple tokens for Bitcoin
- Alameda Research addresses sent millions worth of tokens to decentralised exchanges and crypto mixers on Wednesday.
- According to on-chain data, the tokens were swapped into USDT before being converted into Bitcoin.
- The Alameda wallets sprung into life a few days after FTX co-founder Sam Bankman-Fried was released on a $250 million bail.
Crypto wallets linked to Alameda Research, the quant trading arm of collapsed cryptocurrency exchange FTX, were massively active on Wednesday, on-chain data shows.
The Alameda addresses, as data shared online showed, actively sold several small cap cryptocurrencies, swapping these for Bitcoin and in some cases Ethereum.
Alameda sells millions worth of tokens
According to details shared on Twitter by Martin Lee, a data journalist at blockchain analytics platform Nansen, there were multiple odd transactions that seemed to swap tokens in Alameda wallets for Ethereum and Tether stablecoin USDT.
The funds were then sent to new wallets via decentralised exchanges (DEXs), including ChangeNow and FixedFloat.
Elsewhere, on-chain data shared by blockchain research firm Arkham Intelligence pointed to Alameda wallets offloading over $1.7 million in various tokens.
In total, Alameda-related wallets have mixed:
270.5Eth through ChangeNOW (~$325k)
800k USDT through Fixedfloat
200k through Curve SynthSwap (to native BTC)
200k through Airswap
200k through other crypto-mixing servicesreaching a total of $1.7M that has been taken.
— Arkham | Crypto Intelligence (@ArkhamIntel) December 28, 2022
According to the platform, the sales happened on the open market – a scenario that likely was behind the sharp drop in prices for several tokens. The Ethereum-based cryptocurrencies the wallets sold include Ether (ETH), Curve (CRV), USD Coin (USDC), Dai (DAI), and convex (CVX).
The tokens were sent to two wallets, swapped for USDT and then converted into BTC, blockchain sleuth ZachXBT tweeted on Wednesday.
The Alameda wallets came alive after weeks of dormancy, with these transactions intensifying as former FTX CEO Sam Bankman-Fried settled at home following released from jail on a $250 million bail. The sale of multiple tokens also coincided with a sharp price decline for Solana (SOL).
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Top 4 gaming tokens to buy when the market returns
Are you a crypto gamer or play video games? The advent of blockchain has enabled gaming to go to the next level. Crypto gaming allows you to play and earn cryptocurrencies or non-fungible tokens (NFTS) after winning. There are notable platforms where you can game and earn tokens. With crypto gaming relatively new, you can buy and benefit from the price appreciation of the native tokens to associated blockchains. Here are our top picks based on market capitalisation:
ApeCoin (APE)
ApeCoin is the biggest gaming blockchain, with a market cap of $1.429 billion. The gaming blockchain is famous for the Bored Ape and Mutant Ape NFT collections.
The native token APE is classified as an ERC20 token, meaning it resides on the Ethereum blockchain. The token was officially released on March 16, 2022. APE has particularly been robust lately on the launch of staking feature and NFT marketplace. Stakers on the platform will start earning rewards on December 12, 2022.
Where to buy APE
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Nexo
Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.
The Sandbox (SAND)
Besides ranking as a popular metaverse platform, The Sandbox (SAND/USD) is a crypto gamers’ darling. Players can create 3D worlds and participate in play-to-earn games on The Sandbox.
SAND, the native token, facilitates gameplay transactions. Users can use SAND to buy plots of land in the metaverse. SAND comes second among gaming tokens on market cap, with a valuation of $865 million.
Where to buy SAND
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Axie Infinity (AXS)
It is a top blockchain gaming platform popularly known for Pokémon-Esque creatures dubbed Axies. In fact, despite ranking lower on the market cap than its predecessors, Axie Infinity is recognised as a leader in play-to-earn gaming. Gamers engage in a monster-battling game for an alluring promise of rewards.
Axie Infinity native token AXS is the governance token. The token has a market cap of $848 million.
Where to buy AXS
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Decentraland (MANA)
Another metaverse platform that ranks fourth in gaming tokens’ with a market cap of $729.4 million. Gamers can play games on Decentraland, buy and sell digital real estate, and interact with other users.
Where to buy MANA
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Concluding thoughts
Gaming tokens carry a promising future amid the prolonged crypto winter. With the sharp decline in prices, the top gaming tokens could return big when cryptocurrencies recover.
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Best 3 ERC20 tokens to buy in 2023
Ever heard of ERC20 tokens? These are virtual assets with a residency on the Ethereum blockchain. In other words, they run on Ethereum. ERC20 simply denotes the standard used to create and issue smart contracts on the Ethereum blockchain. Users can create the ERC20 tokens via smart contracts on the network. Currently, there are over 450,000 ERC20 contract tokens.
With numerous tokens made under the ERC20 standard, it is possible to get confused about which coins to buy when the market turns up. We believe these three tokens make a cut as the best among which you should consider:
Chainlink (LINK)
Chainlink (LINK/USD) is one of the best ERC20 tokens around. Analysts have lauded the platform’s decentralised network of nodes as its main differentiator. The nodes provide off-blockchain data and information to on-chain smart contracts through oracles.
Chainlink has attracted attention lately on its expected staking feature. The chainlink team will release the beta version of Chainlink Staking on December 6, 2020, at 12 PM ET. The beta will go live on the Ethereum mainnet.
LINK price has held between $6 and $8 for a while, meaning we could potentially be staring at a market bottom. Meanwhile, whales holding the native token are increasing ahead of the staking service.
Where to buy LINK
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
The Sandbox (SAND)
Yes, the token of the metaverse platform, The Sandbox, is a top ERC20 token choice. It is underperforming this year and can easily be ignored for now. As one of the largest metaverse platforms, the token will return big when cryptocurrencies recover. According to Citi analysts, the metaverse could be a $13 trillion opportunity by 2030.
With the low valuation of SAND ($0.6) currently, you should consider buying the dip once the bullish market returns.
Where to buy SAND
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Shiba Inu (SHIB)
How can we miss the much-loved meme cryptocurrency? Shiba Inu (SHIB/USD) has been viewed as a cryptocurrency carrying little utility. However, lined-up developments, including the metaverse, are touted as game changers. But, the cryptocurrency already has a large following and is accepted as a means of payment by top organisations.
With SHIB known to make parabolic movements at the slightest provocation, it definitely makes a cut as one of the best ERC20 tokens. You can buy and hold or monitor key developments to take advantage of large moves that happen unannounced.
Where to buy SHIB
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
