Bull Market Incoming As Whales Scoops Up 29k ETH Coins While Buying Frenzy Continues At KangaMoon

The post Bull Market Incoming As Whales Scoops Up 29k ETH Coins While Buying Frenzy Continues At KangaMoon appeared first on Coinpedia Fintech News

The bear correction of the past few months has been severe to the extent that many DeFi tokens slipped considerably. However, recent events may have indicated a potential bull rally. Recently, a whale was reported to have accumulated a substantial Ethereum token of about 29k, indicating that the Ethereum price may soon begin to pick up. As this continues, the KangaMoon buying frenzy continues as more investors enter the DeFi project. With a few days remaining until BitMart listing, the token is one of the top DeFi projects now.

New Wallet Address Accumulate 29k Ethereum Tokens as Holders Raise Hope

The news that a certain wallet address has accumulated a staggering 29,000 ETH worth $83.8 million has sparked a reaction in the crypto market with many speculating that the bull is on the way. Based on reliable on-chain data, two big transactions have happened on the Ethereum blockchain via Coinbase and Bitstamp in the past few days. The first one was a wallet address, Oxdfd that amasses 29k ETH, and the second one was a wallet address, 0x48e that accumulates 10k ETH on Coinbase and Bitstamp respectively.

While the Ethereum price has been down for the past few weeks, this news gives a glimmer of hope that the token will spark a resurgence soon. Zooming in, the Ethereum market cap is nearing $350 billion with the Ethereum trading volume now eyeing $12 billion. With the positivity surrounding these key market indicators, analysts forecast the Ethereum coin to climb the $4,000 threshold in the coming weeks.

KangaMoon Token Continues to Enjoy Massive Upswing

While Ethereum is marching up for a likely resurgence, KANG buying frenzy has continued to be discussed in the DeFi market. The platform’s active holders are nearing 10k, with community members surpassing 25,000, which is a testament to the token’s wide coverage across the crypto circle. KangaMoon‘s entry into the play-to-earn gaming market, which is projected to be valued at around $8885 million in 2028, is a big reason the token is getting more adoption.

KangaMoon is also receiving a boost due to its uncommon traits that merge the SocialFi concept with the GameFI model. This initiative gives users a high sense of belonging in the community by becoming a core part of the stakeholders that drive the development of the platform. For their efforts, users will be eligible to earn up to 25% of the KangaMoon total token supply through in-game events and competitions.

Upcoming New Listing

#BitMart will list #KANG @Kangamoon_P2E soon!

Keep an eye on our socials for further announcements.

Share in the comments what you like about this project pic.twitter.com/YvT39QoKba

— BitMart (@BitMartExchange) May 15, 2024

In terms of ROI, KANG is one of the top DeFi tokens that has performed excellently, giving early buyers up to 400% profit. With the opportunity of staking through the KangaMoon staking dApp, users have a chance to lock their assets for some days and earn high returns when unlocked. It is at a bonus stage where the price value is selling at $0.025 with a 10% bonus for investors on every purchase. 

With the token now looking forward to listing on BitMart, there is a fresh rush to purchase KANG. Although KangaMoon has already attracted $6.7 million in funding, the latest buying frenzy could take the presale to its targeted value of $9 million. Going by this traction, market experts view KangaMoon at the top of the DeFi crypto list and believe it can go all the way to $1 in 2024.

Conclusion

With the new transactions by Ethereum whales, it appears that the token is finally getting back its lost traction. However, for investors wanting quick profit at a low-cost price, KangaMoon offers a better option than Ethereum and is one of the top DeFi projects that have a good future.