{"id":41531,"date":"2025-02-04T11:25:01","date_gmt":"2025-02-04T11:25:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41531"},"modified":"2025-02-04T11:25:01","modified_gmt":"2025-02-04T11:25:01","slug":"ethereum-traders-buy-the-dip-as-solana-stablecoins-soar-will-best-go-bullish","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41531","title":{"rendered":"Ethereum Traders Buy the Dip as Solana Stablecoins Soar. Will $BEST Go Bullish?"},"content":{"rendered":"

Ethereum saw some huge selling in the early trading hours of Monday as it dipped below the $2.1K mark \u2013 a 25% dip from its opening price<\/a> that day.<\/p>\n

This fall was a result of whale wallets liquidating their positions in $ETH. For instance, two dormant wallets sent $149M and $201M worth of $ETH to Bitfinex. These wallets were last active in 2019 when a withdrawal of 77,736 $ETH was made.<\/p>\n

Aave ($AAVE) also saw some rapid liquidations during this time, totaling around $200M.<\/p>\n

Most of this liquidation came in the loans that were secured by Wrapped $ETH ($WETH), showing $ETH\u2019s stronghold in the DeFi and crypto lending sector. Consequently, the total value locked (TVL) in $ETH DeFi also fell from $63B to $54B.<\/p>\n\n

This fall is akin to the August 2024 fall, which was triggered by the restrictions placed on the Japanese yen carry trade. $ETH dropped to a low of $2,112 back then.<\/p>\n

However, in just 17 weeks, Ethereum made a comeback and crossed the $4K mark. So, this recent fall isn\u2019t the end of things. It should rather be viewed as a healthy correction in the market.<\/p>\n

The good news is that $ETH was quick to bounce back and closed above its opening price on Monday.<\/p>\n

As the price saw a steep dip, whales swooped in to buy the liquidity. Seven Siblings bought 5,382 $ETH<\/a>, whereas 1inch Investments added $7,289 $ETH<\/a> to their portfolios near day lows.<\/p>\n

Put together, whales bought a total of 50,429 $ETH during the fall. This has kindled hopes of recovery amidst long-term holders. A lot of whales have truly \u2018bought the dip,\u2019 signaling a long path ahead for Ethereum<\/a>.<\/p>\n

Solana\u2019s Upward Journey<\/h2>\n

As Ethereum finds itself in choppy waters, Solana has been making significant progress.<\/p>\n

Solana stablecoins doubled in market cap in January \u2013 from $5.1B to $11.4B. This huge surge can be attributed to the growing popularity of meme coins on the network.<\/p>\n

Since Trump launched his own Solana-based memecoin, Solana\u2019s stablecoin supply has increased by more than 73%<\/a>. Interestingly, Circle\u2019s $USDC is the most sought-after stablecoin on the chain, standing at a value of $9.25B.<\/p>\n

This accounts for more than 80% of all the stablecoin transactions on the network.<\/p>\n

In contrast, on chains like Ethereum and Tron, Tether\u2019s $UDST is the most dominant stablecoin, with values of $65B and $60B, respectively.<\/p>\n

Notably, $USDC was the fastest-growing stablecoin in 2024 at a rate of 78%. Its current valuation stands at $53B, which is still some distance away from UDST at $139.5B.<\/p>\n

However, Circle has been making a lot of progress to narrow down this gap. It recently went live on the Aptos mainnet.<\/p>\n

Seeing the growth of stablecoins coupled with a meme coin boost by the President of the United States himself, it\u2019s fair to say altcoins have a bright future ahead.<\/p>\n

If you\u2019re also looking for an opportunity to invest in the best meme coins<\/a>, we have something perfect for you \u2013 the Best Wallet Token ($BEST)<\/strong><\/a>.<\/p>\n

What Is $BEST?<\/h2>\n

The Best Wallet Token ($BEST)<\/a><\/strong> is the in-house meme coin of the popular Best Wallet App<\/a>, which is a one-stop destination for all your crypto needs.<\/p>\n

The wallet offers access to more than 60 crypto chains, allowing you to manage all your holdings in one place.<\/p>\n

The $BEST token is the Best Wallet App on steroids, as it unlocks some serious perks within the Best Wallet ecosystem.<\/p>\n

For instance, Token holders can get early access to high-alpha presales, much before they go live for the general public. This allows investors to jump in early on promising altcoins<\/a>.<\/p>\n\n

You can find these tokens in the \u2018Upcoming Tokens\u2019 tab \u2013 coins like $PEPU and $CATSLAP were featured on Best Wallet long before they became popular among investors.<\/p>\n

What\u2019s more, you can also benefit from lower transaction fees as a $BEST holder.<\/p>\n

Plus, this non-custodial platform doesn\u2019t require KYC, making it simple and quick to get started with.<\/p>\n

Early adopters of $BEST<\/a><\/strong> can also earn staking rewards with 189% APY. It\u2019s worth noting that the developers have reserved 8% of the total token supply of 10B exclusively for this, showing their focus on long-term adoption and rewards.<\/p>\n

Why Should You Invest in $BEST?<\/h2>\n

Besides all the token benefits you get, the Best Wallet App<\/a> itself has a bright future ahead. It aims to capture 40% of the $10B non-custodial crypto wallet market share by the end of 2026.<\/p>\n

Moreover, it has so far walked the talk, garnering over 500K total users and 250K daily active users.<\/p>\n\n

The Best Wallet Token presale<\/a><\/strong> has also been a huge hit. Within just 14 days of launch, it managed to raise a whopping $1M. As of now, the project has raised $9M and finds itself among the best crypto presales<\/a> going around.<\/p>\n

Oh, and wait till you hear about the project\u2019s future. The developers have a lot in the pipeline, including integration of Solana ($SOL) and the launch of Best Card for seamless crypto payments.<\/p>\n

The project is also in talks for a partnership with apps like Staking, iGaming, Project Directory, News, and DeFi. This will truly make Best Wallet App<\/a> a one-stop solution and the only crypto wallet anyone will ever need.<\/p>\n

With all the success that\u2019s to come for the app, it is the $BEST token<\/a><\/strong> that will ultimately benefit. Experts say that they won\u2019t be surprised if this turns out to be the next 100x crypto<\/a>.<\/p>\n

Currently available for just $0.02385 each, $BEST\u2019s price is set to increase in less than 12 hours, so hurry up and buy $BEST<\/a><\/strong> for the lowest possible price.<\/p>\n

Last but not least, make sure you do your own research before investing in the crypto markets, as they can be highly volatile.<\/p>\n

Also, this article isn\u2019t a replacement for professional financial advice, and we recommend you consult your advisor before making a move.<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum saw some huge selling in the early trading hours of Monday as it dipped below the $2.1K mark \u2013 a 25% dip from its opening price that day. This fall was a result of whale wallets liquidating their positions in $ETH. For instance, two dormant wallets sent $149M and $201M worth of $ETH to […]<\/p>\n","protected":false},"author":0,"featured_media":41532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41531"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41531"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41532"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}