The Ripple-linked XRP token has experienced strong buy pressure, with more than $10 million worth of net buy pressure in less than 10 minutes. 

Earlier today, a $3 million XRP market buy order was recorded on Binance perpetual futures. Notably, the mammoth buy order was executed in just 100 milliseconds. 

The order, which has absorbed a significant amount of sell liquidity, managed to push the price of the token to an intraday high of $2.91. 

XRP is currently changing hands at $2.86 after giving up some gains, according to CoinGecko data. 

Bullish catalysts for XRP

Even though September is typically a bearish month for Bitcoin and other major cryptocurrencies, XRP could end up outperforming in October. 

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As reported by U.Today, the SEC is widely expected to greenlight XRP ETFs in the fourth quarter of this year. Franklin Templeton, Bitwise, and some other key issuers have joined the XRP race, but BlackRock and Fidelity have remained on the sidelines. 

If XRP ETFs prove naysayers wrong and end up outperforming expectations in terms of inflows, this could create a powerful narrative for the token and potentially set the stage for a rally toward a new record high. 

The Ethereum Foundation has paused new grant applications to its Ecosystem Support Program (ESP) as it reconsiders how it funds builders and projects.

The pause, announced Aug. 29, comes as the Foundation restructures its approach to ecosystem development and looks to align its grantmaking with longer-term priorities.

A detailed roadmap outlining new funding priorities is expected in the fourth quarter of 2025.

While the open grants channel is temporarily paused, ESP will continue supporting existing grantees and funding public goods. The team also pledged to maintain Office Hours, where builders can receive guidance, feedback, or connections to non-financial resources.

Why the Ethereum Foundation is pausing grants

The organization said Ethereum’s rapid growth in size and complexity has created pressure to adapt its funding model. Instead of continuing with a system that reacts to grant requests as they come in, the Foundation wants ESP to shift toward proactively backing projects that address strategic needs.

This transition will ensure resources are deployed where they can have the most lasting impact on Ethereum’s usability and resilience.

It added:

“This change will enable us time to redesign in a way that redirects our focus toward strategic initiatives, moving from a reactive model to a more proactive one that also supports the priorities of other EF teams.”

Meanwhile, the Foundation emphasized that its values remain unchanged. These include funding open-source infrastructure, research, and developer tools; supporting community initiatives; and strengthening resources that benefit the wider Ethereum network.

Since its creation in 2018, ESP has evolved from a simple grants program into a broader initiative providing financial and non-financial backing for Ethereum builders.

In 2024 alone, it distributed nearly $3 million across 105 projects, spanning developer tooling, data analytics, education, research, and community events.

Some of the past beneficiaries include Commit-Boost, BundleBear, Web3Bridge, ZK Playbook, and the Ethereum Cypherpunk Congress.

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Ethereum (ETH) has gained 4.61% in the last seven days, 27.25% in 30 days and 68.27% within the past one year. This positive outlook has caught the attention of an Ethereum Initial Coin Offering (ICO) participant from 2014.

Ethereum community reacts to 14,269x gains

As per Lookonchain data, after 10 years of dormancy, the ETH ICO participant has transferred all of his assets of 334.7 ETH. Notably, in 2014, Ethereum sold at a relatively low price, and the investor acquired the coins for $104.

With the recent transfer and at the current market price, the investor has made a 14,269x gain on his investment. The total value of the coin today is about $1.48 million. A staggering amount of profit considering he invested just about $104 in the ICO.

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The holder’s ability to leave the coins untouched in his wallet for over 10 years has sparked conversation in the community. He left it without trading, selling, or moving them. Many consider it the typical example of how profitable it could be to hold an asset long-term.

A user in the community noted that “stories like this remind why conviction beats trading noise.”

It has also triggered discussions about crypto wealth and how a tiny early investment could pay off and make one a millionaire from the returns.

Ethereum price declines despite strong market outlook

As of this writing, Ethereum is changing hands at $4,392.11, representing a 5.43% decline in the last 24 hours. It dipped from an intraday peak of $4,663.55 to its current price level. Similarly, trading volume has dropped significantly by 28.64% to $51.5 billion.

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Market observers are monitoring developments to see how the broader macroeconomic factors impact the leading altcoin.

Prior to the current market setup, all Ethereum holders were in profit when the price soared to $4,763. As of then, investors were eyeing $5,000 as the next possible all-time high (ATH) for the asset. For now, the wait for a new ATH to wipe the previous one set four years ago continues.

On Tuesday morning, several altcoins nosedived up to 50% on global crypto exchange Binance, sparking confusion among investors. Several community members shared theories for the incident, speculating that recent adjustments in the exchange’s position limits could be responsible.

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Altcoins See Q2 Opening Crash On Binance

Multiple altcoins saw a peculiar start to Q2 after their price tanked on Binance on Tuesday morning. The crypto community raised the alarm after Solana-based memecoin and AI Agent token Act I: The AI Prophecy (ACT) plunged around 50% in less than an hour.

The cryptocurrency, which once had a market capitalization of $722 million, has moved sideways for most of March, hovering between the $0.18-$0.19 price range until today. In 30 minutes, ACT crashed from the $0.189 mark to the $0.087 level, registering a 53% fall.

Similarly, the DEXE, KAVA, DF, HIPPO, BANANAS31, LUMIA, TST, and QUICK tokens also recorded a sudden price drop, losing between 10% and 35% of their value in an hour.

ACT’s team acknowledged the incident, stating, “Dear ACT community, we want to assure you that we’re fully aware of the current situation. Our team is actively investigating and working collaboratively with all relevant parties to address this matter.” The post also noted they had begun developing a response plan alongside their trusted partners.

Analyst Altcoin Sherpa suggested that a price bounce for ACT seems likely but noted that “ppl might realize that they don’t really want to hold this coin and view this as a forced rebalance event. Nobody buying. Nobody selling.”

No April Fool’s Joke

As Binance posted about a different April Fool’s joke, investors started to speculate what caused the sudden bleeding, with some joking that the prank had gone too far. The crypto community guessed that Wintermute was responsible for the Altcoin massacre, as it reportedly liquidated several of its positions today.

Nonetheless, the trading firm’s CEO, Evgeny Gaevoy, denied the rumors, stating, “Not us fwiw, but also curious about that postmortem.”

Meanwhile, Lookonchain suggested that Binance’s recent update of its leverage and margin tiers on several altcoins, including ACT, could have been the reason for the token crash.

Six hours later, Binance Customer Support replied to Wu Blockchain’s report, revealing that the reason for the dump was that three VIP users cross-sold tokens worth 514,000 USDT in the spot market and a non-VIP user transferred a large amount of ACT from other platforms and sold 540,000 USDT worth of the token in a short period.

As a result, the cryptocurrency’s price dropped, which led some users to close their futures contracts, triggering the decline of other altcoins. The crypto exchange pointed out that they recently took “the initiative to take preventive measures to adjust leverage multiples downward.”

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“Binance Contracts has recently issued consecutive adjustment announcements for the ACTUSDT perpetual contract, during which there was no market movement and no active reduction of any user’s position,” the post detailed.

Binance added that it will continue to investigate the incident and update the relevant details if there is any news, concluding that the crypto market has been volatile recently and asking investors to exercise caution.

Featured Image from Unsplash.com, Chart from TradingView.com

A massive trove of Bitcoin that has been dormant for up to a decade has suddenly woken up and moved out of its wallet.

Blockchain analytics firm CryptoQuant reports that 14,000 coins – worth about $1.35 billion at time of writing – were transferred early on Monday to new wallets.

According to CryptoQuant, the BTC was not moved to exchanges, suggesting that the entity isn’t planning on selling their coins.

“On February 10th, 14,000 Bitcoins that had been inactive for 7 to 10 years were moved. Despite the large volume, these coins have not been transferred to any exchanges, suggesting that they are not intended for immediate sale.

This kind of movement does not necessarily mean that Bitcoin’s price will drop. In the past, similar cases have occurred, but they did not always lead to a price decline. It would be wise to review historical data on Bitcoin’s price movements following such events (refer to the second indicator).

However, it’s important to note that the average acquisition price of these coins is quite low, which could influence the holders’ future decisions regarding potential sales.”

CryptoQuant CEO Ki Young Ju recently said that the Bitcoin bull market still had legs, and likely wouldn’t top out until demand for ETFs tapered off.

“The Bitcoin bull cycle isn’t over.

The buying engine for paper Bitcoins is still running. In 2021, the downturn came two months after GBTC (Grayscale Bitcoin Trust) inflows dried up.

No need to rush calling the cyclical top until ETFs, MSTR (MicroStrategy), and institutional buying slow down.” 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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