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cointelegraph.com Mar 16, 2025 06:13

Toncoin open interest surges 67% after Pavel Durov departs France - Toncoin Open Interest (OI) has jumped 67% over the past 24 hours following Telegram founder Pavel Durov’s reported departure from France, where he had been required to stay since his arrest six months ago.On March 15, Toncoin (TON) OI  — a metric tracking the total number of unsettled Toncoin derivative contracts such as options and futures —  reached $169 million, representing a 67% increase from the previous day when the reports of Durov’s departure first surfaced, according to CoinGlass data.Toncoin open interest reaches highest level in 42 daysIt is the highest level of OI in Toncoin since Feb. 1, when it was sitting at $171.49 million. TON is The Open Network’s native cryptocurrency and is the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem.Edit the caption here or remove the textTON’s price jumped 17% over the same period. Toncoin is trading at $3.45 at the time of publication, according to CoinMarketCap data. Trading resource account Crypto Billion said in a March 15 X post that Toncoin is “showing signs of a potential long-term accumulation phase as it stabilizes near key support levels.”Meanwhile, approximately $18.8 million in long positions are at risk of liquidation if TON’s price retraces back toward the $3 mark it was trading at on March 14.Toncoin open interest also surged after arrest in 2024The court reportedly allowed Durov to travel to Dubai, a city with no extradition agreements with many countries.The market’s reaction signals how significant this case is to the crypto industry, with many worried that Durov’s arrest in August 2024 in France could set a precedent for cracking down on other privacy-focused services. He was accused of running a platform that enables illicit transactions.Related: Bitget predicts TON ‘de-Telegramization’ in the next 2 yearSimilarly, when Durov was arrested in August 2024, TON’s OI also surged. Following the news of Durov’s arrest on Aug. 24, 2024, TON’s OI spiked 32% over the following 24 hours, alongside its price falling almost 12%.On Jan. 21, Telegram announced it would cease support for all blockchains other than The Open Network for its messenger services.Magazine: Vitalik on AI apocalypse, LA Times both-sides KKK, LLM grooming: AI Eye

FOMO: 87%
cointelegraph.com Mar 16, 2025 11:05

Forget Solana, XRP may flip Ethereum first amid 5-year high - XRP (XRP) price versus Ether (ETH) reached its highest level in five years over the weekend, extending its recovery.On March 15, the XRP/ETH pair touched 0.00128 ETH for the first time since April 2020. That amounts to a 925% rebound when measured from its all-time low of 0.00013 ETH established in June 2024 and approximately 620% gains since November 2024, when Donald Trump won the US presidential election.XRP/ETH weekly price chart. Source: TradingViewXRP potential breakout versus ETHThe XRP/ETH rally is fueling speculation among market watchers that XRP could flip Ether to become the second-largest cryptocurrency by market capitalization.For instance, analyst Dom highlights 0.0012 ETH as a historically significant resistance level, a threshold that has consistently preceded explosive rallies in past cycles. He notes that XRP has gone parabolic after breaking this resistance, delivering gains of at least 160% in previous instances.XRP/ETH 12-hour price charts. Source: TradingView/DomHe illustrated the same with three key breakout points—in early 2017, late 2017, and 2018 when XRP’s surged against Ether following a confirmed breach of the 0.0012 ETH resistance. As of March 16, XRP was once again testing this critical level. If history repeats itself, even a partial rally of 80% would be enough for XRP to flip ETH in market capitalization, DOM suggests, especially as Ether’s price risks more downside in 2025.Related: XRP price poised for 46% gains after Ripple secures first Dubai licenseAt $138 billion, XRP’s market cap is less than $100 billion short of hitting Ethereum’s. Moreover, XRP’s fully diluted valuation (FDV) briefly surpassed Ethereums earlier this week. For context, FDV represents the total theoretical value of all tokens, including those not yet in circulation, whereas market capitalization only accounts for tokens currently in circulation.Why is Ethereum underperforming XRP?XRP’s market dominance has grown by over 300% since Trump’s reelection on Nov. 5.XRP.D vs. ETH.D daily price chart. Source: TradingViewThe same period has witnessed Ethereum losing its market share by over 35.50%, showing a clear lack of interest among traders for Ether compared to other top-ranking crypto assets.A key factor in this divergence is regulatory sentiment. Trump has positioned the US as the future world’s crypto capital,” appointing pro-crypto regulators and pledging to foster a more favorable environment. This shift has especially benefited XRP, which caters to enterprise users, particularly as Ripple unveiled an institutional DeFi roadmap in February.Meanwhile, Ethereum has slumped due to rising competition from rival layer-1 blockchains, particularly Solana (SOL). The Dencun upgrade in March 2024, which slashed Ethereum’s transaction fees by 95%, was intended to improve scalability. However, it has also reduced ETH burn rates, increasing supply and weakening its deflationary appeal and “ultrasound money” narrative. ETH supply rate since the Merge. Source: UltraSound MoneyAt the same time, Solana’s dominance has risen, with its trading volume now rivaling Ethereum and all its layer-2 chains combined. The network’s faster and cheaper transactions have made it the go-to platform for DeFi activity, memecoin trading, and NFT markets, which Ethereum previously dominated. This shift has eroded Ethereum’s market share, particularly among traders and developers seeking high-speed, low-cost transactions.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 90%
cointelegraph.com Mar 16, 2025 12:07

Toncoin in great entry zone as Pavel Durovs France exit fuels TON price rally - Toncoin (TON) has surged by over 50% in the past week, fueled by news that Telegram founder Pavel Durov has been granted permission to leave France for Dubai.TON/USDT weekly price chart. Source: TradingViewTON’s bullish reversal, especially after falling to $2.35, its lowest level in a year, has traders eyeing key price levels, with crypto analyst Crypto Patel highlighting a great entry zone for long-term investors.TON is eyeing a 100% rally in 2025As Crypto Patel notes, TON’s price has “perfectly bounced” from its support level of around $2.50. Furthermore, the support falls inside the $2.40-3.00 area that served as resistance in December 2022-April 2023 and September 2023-April 2024 periods. The analyst argues that the area now served as a “great entry zone,” citing TON’s ongoing rebound from the same range.TON/USDT weekly price chart. Source: TradingView/Crypto Patel A decisive rebound from the $2.40-3.00 zone could have TON target its prevailing descending trendline resistance in the coming weeks, which may push its price toward $5 by June or July.Related: Wallet in Telegram to list 50 tokens and launch yield programThe upside outlook aligns with analyst Profit Mind’s falling wedge setup, which anticipates the Toncoin price to grow toward the $6 upside target if it breaks above the wedge’s upper trendline.TON/USDT daily price chart. Source: TradingViewFalling wedges typically resolve when the price breaks above the upper trendline and rises by as much as the pattern’s maximum height.Analyst Crypto Billion further anticipates a bullish reversal in TON markets, citing its oversold relative strength index (RSI) as a primary catalyst for potential long-term accumulation.Source: Crypto BillionToncoin’s Sharpe ratio, a financial metric used to measure an asset’s risk-adjusted returns, further indicates oversold conditions in the TON market.As of March 16, the 180-day average ratio had dropped below -25, as denoted in blue. In the past, TON has undergone bullish reversals largely when its Sharpe ratio turned blue, as seen in late 2022 and mid-2023.TON Sharpe ratio (180 days). Source: CryptoQuantTON shorts remain dominantIn the derivatives market, Toncoin is witnessing a resurgence in its open interest (OI) — a metric tracking the total number of unsettled TON contracts such as options and futures.As of March 16, TON’s OI was around $169.12 million, compared to $80.75 million just five days prior. TON Futures’ OI and funding rates. Source: CoinGlassOn the flip side, TON’s weekly funding rates are treading around negative territory — they marginally rose into positive territory after plunging to -0.678% earlier on March 16.When funding rates turn negative as OI rises, it often reflects bearish sentiment with aggressive shorting. The 30-day liquidation map tracking TON/USDT on Bybit risks nearly $10 million in long liquidations if the Toncoin price falls toward $2.54.Bybit TON/USDT 30-day liquidation map (as of March 16). Source: CoinglassConversely, the same liquidation map reveals that approximately $12 million worth of short positions could be at risk if TON surpasses the $4 mark. If this scenario plays out, the cascading effect of forced buybacks could accelerate Toncoin’s upward momentum, sending the price to the aforementioned levels. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 90%
cointelegraph.com Mar 16, 2025 12:50

Libra, Melania creator’s ‘Wolf of Wall Street’ memecoin crashes 99% - The creator of the Libra (LIBRA) token has launched another memecoin with some of the same concerning onchain patterns that pointed to significant insider trading activity ahead of the coin’s 99% collapse.Hayden Davis, the co-creator of the Official Melania Meme (MELANIA) and the Libra token, has launched a new Solana-based memecoin, with an over 80% insider supply.Davis launched the Wolf (WOLF) memecoin on March 8, banking on rumors of Jordan Belfort, known as the Wolf of Wall Street, launching his own token.The token reached a peak $42 million market cap, however, 82% of the WOLF token’s supply was bundled under the same entity, according to a March 15 X post by Bubblemaps, which wrote:“The bubble map revealed something strange — $WOLF had the same pattern as $HOOD, a token launched by Hayden Davis. Was he behind this one too?”Source: BubblemapsThe blockchain analytics platform revealed transfers across 17 different addresses stemming back to address ‘OxcEAe’ owned by Davis.“He funded these wallets months before $LIBRA and $WOLF launched, moving money through 17 addresses and 2 chains,” Bubblemaps added.Source: BubblemapsThe Wolf memecoin lost over 99% of its value within two days, from the peak $42.9 million market capitalization on March 8 at 4:00 a.m. UTC, to just $570,000 at press time, Dexscreener data shows.WOLF/SOL, market cap, 1-hour chart. Source: DexscreenerDavies’ latest token launch comes weeks after the Libra token’s collapse where eight insider wallets cashed out $107 million in liquidity, leading to a $4 billion market cap wipeout within hours.The Libra token turned into a political issue, with Argentinian President Javier Milei risking impeachment after his endorsement of the Libra coin.Argentine lawyer Gregorio Dalbon has asked for an Interpol Red Notice to be issued for Davis citing a “procedural risk” if Davis remained free as he could have access to vast amounts of money that would allow him to either flee the US or go into hiding.Related: Milei-endorsed Libra token was ‘open secret’ in memecoin circles — JupiterMemecoins are turning into “retail value extraction tools”Memecoins are turning against crypto’s fundamental ethos of decentralization, becoming increasingly used to exploit retail investors amid the growing number of rug pulls, according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum.“Memecoins have evolved from community-driven social experiments into a chaotic landscape dominated by value extraction from retail investors,” Plotnikova told Cointelegraph, adding:“Insider rings, pump-and-dump schemes, and sniper groups have replaced the organic, collectible nature of original memecoins, creating an unhealthy playing field.”Related: TRUMP, DOGE, BONK ETF approvals ‘more likely’ under new SEC leadershipInvestors will also need to distinguish between memecoins that can be seen as genuine “collectibles” and “outright fraudulent activities” like rug pulls which are “not only unethical but also clearly illegal, with case law to support enforcement.”“In my view, these activities should fall firmly within the jurisdiction of law enforcement agencies,” she added.United States regulators are becoming increasingly aware of the growing memecoin scams.A New York lawmaker introduced a bill that would establish criminal penalties specifically aimed at preventing cryptocurrency fraud and protecting investors from rug pulls, Cointelegraph reported on March 6.Under the proposal, new criminal charges would be created for offenses involving “virtual token fraud,” explicitly targeting deceptive practices associated with cryptocurrencies.Magazine: Caitlyn Jenner memecoin ‘mastermind’s’ celebrity price list leaked

FOMO: 90%
cointelegraph.com Mar 16, 2025 13:20

Bitcoin gets $126K June target as data predicts bull market comeback - Bitcoin (BTC) can hit new all-time highs by June this year if historical patterns repeat, network economist Timothy Peterson said.Data uploaded to X on March 15 gives BTC/USD around two-and-a-half months to beat its $109,000 record.April could spark 50% BTC price upsideBitcoin has declined 30% after topping out in mid-January. The extent of the drop is characteristic of bull market corrections, and Peterson keenly senses the potential for a comeback.“Bitcoin is trading near the low end of its historical seasonal range,” he determined alongside a chart comparing BTC price cycles.  “Nearly all of Bitcoins annual performance occurs in 2 months: April and October.  It is entirely possible Bitcoin could reach a new all-time high before June.”Bitcoin seasonal comparison. Source: Timothy Peterson/XPeterson has created various Bitcoin price metrics over the years. One of them, Lowest Price Forward, has successfully defined levels below which BTC/USD never falls after a crossing above them at a certain point. After its recovery from multi-year lows in March 2020, Lowest Price Forward predicted that BTC price would never trade under $10,000 again from September onward.Meanwhile, a new likely floor level has appeared this year: $69,000, as Cointelegraph reported, which has a “95% chance” of holding.Continuing, Peterson stipulated a median target of $126,000 with a deadline of June 1. Alongside a chart showing the performance of $100 in BTC, he also revealed that limp bull market performance has always been temporary.“Bitcoin average time below trend = 4 months,” he explained.“The red dotted trend line = $126,000 on June 1.”Bitcoin growth of $100 comparison. Source: Timothy Peterson/XA standard Bitcoin bull market comedownOther popular market commentators continue to emphasize that Bitcoin’s recent trip to $76,000 is standard corrective behavior.Related: Watch these Bitcoin price levels as BTC retests key $84K resistance“You don’t have to look at the previous BTC bull runs to understand that corrections are a part of the cycle,” popular trader and analyst Rekt Capital wrote in part of X analysis of the phenomenon at the start of March.Rekt Capital counted five of what he called “major pullbacks” in the current cycle alone, going back to the start of 2023.BTC/USD 1-week chart. Source: Rekt Capital/XAnalysts at crypto exchange Bitfinex told Cointelegraph this weekend that the current lows mark a “shakeout,” rather than the end of the current cycle.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 90%
cointelegraph.com Mar 16, 2025 13:38

Bitcoin whale bets $368M with 40x leverage on BTC decline ahead of FOMC - A Bitcoin whale is wagering hundreds of millions on Bitcoin’s short-term decline, ahead of a week filled with key economic reports that may significantly impact Bitcoin’s price trajectory and risk appetite among investors.A large crypto investor, or whale, has opened a 40x leveraged short position for over 4,442 Bitcoin (BTC) worth over $368 million, which functions as a de facto bet on Bitcoin’s price fall.Leveraged positions use borrowed money to increase the size of an investment, which can boost the size of both gains and losses, making leveraged trading riskier compared to regular investment positions.The Bitcoin whale opened the $368 million position at $84,043 and faces liquidation if Bitcoin’s price surpasses $85,592.Source: HypurrscanThe investor has generated over $2 million in unrealized profit, however, he has an over $200,000 loss on his position’s funding fees, Hypurrscan data shows.Despite the heightened risk of leveraged trading, some crypto investors are making significant profits with this strategy. Earlier in March, a savvy trader gained $68 million on a 50x leveraged short position, banking on Ether’s (ETH) 11% price decline.The leveraged bet comes ahead of a week of numerous significant macroeconomic releases, including the upcoming Federal Open Market Committee (FOMC) meeting on March 19, which may impact investor appetite for risk assets such as Bitcoin.Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspensionBitcoin needs weekly close above $81k to avoid pre-FOMC downside: analystsBitcoin price continues to risk significant downside volatility due to growing macroeconomic uncertainty around global trade tariffs.To avoid downside volatility ahead of the FOMC meeting, Bitcoin will need a weekly close above $81,000, according to Ryan Lee, chief analyst at Bitget Research,The analyst told Cointelegraph:“The key level to watch for the weekly close is $81,000 range, holding above that would signal resilience, but if we see a drop below $76,000, it could invite more short-term selling pressure.”Related: Bitcoin experiencing ‘shakeout,’ not end of 4-year cycle: AnalystsThe analyst’s comments come days ahead of the next FOMC meeting scheduled for March 19. Markets are currently pricing in a 98% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool.Source: CME Group’s FedWatch tool“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets,” added the analyst.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – Mar. 1

FOMO: 85%