The post ETH Staking Rise, Biaoqing Jitters & MOONHOP Boosts appeared on BitcoinEthereumNews.com.

Ethereum staking has become the center of attention as investors transfer their assets from exchanges to staking contracts. This shift towards long-term investment reflects a strong belief in Ethereum’s future. Meanwhile, meme coins such as Biaoqing Memecoin are gaining prominence by leveraging popular culture to succeed rapidly. At the same time, meme coins are defining their own space in the cryptocurrency market. MOONHOP distinguishes itself with a playful approach and robust community support. Having raised $970,000 in its initial stage, this fluffy meme coin highlights both its potential and the distinctive charm of its lively, bunny-themed ecosystem. The Rise in Ethereum Staking Despite Falling Prices Ethereum holders are exiting exchanges as if they’re dodging an ex at a party. In the past month alone, more than a million ETH, valued at $3.8 billion, has been withdrawn. It seems everyone has suddenly decided that exchanges are no longer the place to be. This shift, analyzed by AMBCrypto, indicates a growing preference for long-term holding or Ethereum staking. Despite recent price swings, Ethereum staking deposits have surged, with over 33.2 million ETH now staked, accounting for nearly 28% of the total supply. Even as ETH prices fluctuate below the short-moving average, staking remains popular. Investors appear committed to the long-term, underscoring Ethereum staking as a significant strategy. Biaoqing Memecoin: Can the Panda Meme Coin Hold Its Footing? Despite its recent surge, Biaoqing Memecoin raises some concerns. Launched less than two weeks ago, this new memecoin saw its market cap skyrocket from a few thousand to nearly millions. However, such rapid growth amid a market downturn prompts questions about its stability. Inspired by a popular Asian meme featuring a panda with a human face, Biaoqing aims to replicate the success of Western memecoins like Doge and Pepe. This strategic approach targets a specific…

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Filed under: News - @ July 20, 2024 8:22 am