Optimism
Top 3 Whale-Favored Crypto to Rally 5X In Q4
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2 weeks agoon
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adminThe crypto market signals the continued correction as the falling Bitcoin and Ethereum breached crucial support of $55000 and $2500 on Friday, respectively. Despite the bearish momentum, the whales’ confidence in altcoins like Toncoin (TON), Optimism (OP), and Pepe Coin (PEPE).
How Whale Accumulation Signals Crypto Market Bottoms
Whale activity has been a crucial metric in the cryptocurrency market, often indicating large holders’ buying and selling behavior. Generally, an active accumulation trend by these smart money has coincided with major market bottoms, indicating key indicators for top crypto to buy.
Toncoin (TON)
Toncoin, the crypto associated with Telegram, has recently gained market attention following reports of Telegram founder Pavel Durov’s alleged arrest in France. On September 6th, Durov issued a statement criticizing the French authorities and the arrest drama. He clarified that the media misrepresented the events and emphasized that Telegram remains committed to privacy and neutrality.
By press time, the TON price had traded at $4.6 and held a market cap of $11.76 billion.
Despite the legal challenges, the whale interest in Toncoin remains stable, as addressed with 1 Million to 10 Million TON now accounting for a total of 3.18 million coins, according to Santiment data.
Pepe Coin (PEPE)
The Frog-themed crypto PEPE shows a notable correction from $0.000017 to $0.000007— a 60% drop within four months. While this correction must have scared the short-term speculative traders, the large holders steadily accumulated this asset.
Supply distribution data shows that whales holding 10,000,000 to 100,000,000 PEPE steadily increased their holdings to a peak of 3.64T coins. This consistent accumulation signals that large holders anticipate a potential reversal in the PEPE coin.
By press time, the PEPE price had traded at $0.0000069, boosting a market cap of $2.94 billion.
Optimism (OP)
Optimism (OP), a layer-two blockchain on top of Ethereum, projected an aggressive correction from $4.85 to $1.42— a 70% decline in six months. However, the downward trend gradually shifts sideways as the $1 psychological level sparks renewed demand pressure.
According to Santiment data, whale addresses holding between 1M to 10M OP have significantly increased their holdings, reaching a peak of 672 million coins. This aggressive accumulation suggests growing confidence in the Optimism coin as it aims to strengthen its position above $1 support before the next leap.
With an intraday gain of 6%, the OP price trades at $1.4 and boasts a market cap of $1.68 Billion.
Frequently Asked Questions (FAQs)
Whale activity is a key indicator of market bottoms and buying opportunities, with active accumulation often signaling a potential rebound in assets like TON, PEPE, and OP.
Whale holdings of 10M to 100M PEPE coins have peaked at 3.64T, indicating expectations of a price reversal after its 60% drop.
$1 level stands as crucial psychological support for OP price
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Succinct Labs and OP Labs have collaborated on a zero-knowledge proofs solution that significantly improves transaction finality and gas costs compared to optimistic rollups.
On Sept. 11, Succinct Labs announced its partnership with OP Labs, a startup contributing to the development of the Optimism (OP) protocol, to create OP Succinct.
OP Succinct by Succinct Labs and OP Labs
Paradigm-backed Succinct and OP Labs’ collaboration on OP Succinct combines the general-purpose zero-knowledge virtual machine SP1 with OP Stack to deliver a zkEVM rollup.
With this new solution, upgrading OP Stack chains to utilize zero-knowledge proofs is now cheaper and faster. According to Succinct Labs, OP Succinct is also highly customizable.
“The modular design of the OP Stack makes it easy to convert an OP Stack rollup to a ZK rollup. OP Succinct’s two-step integration requires minimal code and easily fits into existing deployments–including rollup-as-a-service setups,” Succinct Labs posted on X.
Fast finality and lower gas costs
The ZK rollup development adds to the growing layer 2 scaling solutions ecosystem, with off-chain transaction proofing offering fast finality and reduced gas costs.
OP Labs and Succinct Labs, which secured $55 million in Paradigm-led funding rounds in March 2024, are bringing this to the market with OP Succinct.
Being able to upgrade an OP Stack to use ZKPs within an hour vastly improves the fraud-proof window of seven days applicable to standard optimistic rollups. Proving costs are also at 0.5 to 1 cent, compared to higher costs of 1.34 cents on OP Mainnet and 1.11 cents on OP Sepolia.
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