Dinosaur Coins ETC, BCH and DOGE Roar Back as Altcoin Season Heats Up
Friday's top performers are known as dinosaur coins, many of which were created before the 2017 bull market.
Ethereum classic (ETC) leads the pack with a 24-hour surge of 20% after breaking through the $20.27 level of resistance. It still faces a stern test at $25.00, a level it rejected exactly one year ago before plummeting to $15.80.
ETC's growing popularity is reflected in its trading volume. That tripled to $756 million, showing the move is backed by traders who are rolling capital from sector to sector in true "altcoin season" style.
Litecoin (LTC), bitcoin cash (BCH), dogecoin (DOGE) and of course XRP also posted notable gains. And all rose to stardom as retail investors poured capital into the 2017 cycle.
LTC is up in part because of MEI Pharma's $100 million LTC fund with the project's founder, Charlie Lee, taking a board seat. But it's also due to a general rotation into legacy coins that stuttered during this week's ferocious altcoin move.
Uniswap (UNI), which was actually released slightly later than the others, in 2020, also climbed 20%, and as volume topped $1.7 billion — a 70% increase.
It is now trading above the $8.11 and $10.33 levels of resistance as it looks to move up towards $12.09, a level that caused several rejections during the middle of last year.
What does Friday's move mean?
The rotation into dinosaur coins can be looked at one of two ways. Either it is a bullish scenario in which traders are flipping their gains and moving methodically from sector to sector, or it is the early etchings of a cycle high, with traders attempting to squeeze the final scraps of profit before a the market enters a correction.
There are several technical indicators that first, bullish, scenario is the most likely, including a series of breakouts above months-old levels of resistance. If, however, bitcoin tumbles below $110,000 altcoins will suffer a complete wipeout.
Open interest on several altcoins suggests the recent move has been backed with leverage. Dogecoin open interest is up at $2 billion, a 30% rise in 24 hours, while uniswap's is up by 35% to $389 million, Coinalyze data shows.
This means that if the market experiences a broader sell-off, leveraged altcoin positions will unwind, leading to liquidations and subsequent pressure to sell. Coupled with the reduced liquidity and lower market depth of altcoins, several tokens could face a decline in excess of 10%.
The ideal scenario for altcoins is bitcoin climbing above the $124,000, a level of resistance, and moving higher before another period of consolidation. That would allow capital to rotate without the risk of an immediate correction.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time Business News
an hour ago
- Time Business News
Whale Wallets Are Loading Up Memetrix Tokens — Why Are You Still Watching?
In crypto, there are watchers — and there are movers. Watchers sit on the sidelines, refreshing price charts, reading Reddit threads, and waiting for 'confirmation.' Movers act before the trend. And right now, the biggest movers in the game — whale wallets with deep histories and deeper pockets — are loading up Memetrix tokens ($MMXX) before the rest of the market catches on. Let's be clear: these aren't memecoin tourists. These are sophisticated, early-stage wallets that entered projects like Dogecoin, Pepe, and Shiba before the world ever heard of them. So the real question is… Why are they so aggressively buying Memetrix? And more importantly — why aren't you? Whales don't chase TikTok trends or buy based on memes alone. They read the code. They evaluate governance. They examine tokenomics. And they move when they find a project with structural advantages — not just hype. That's what they see in Memetrix coin: Memetrix smart contracts are audited and unchangeable. There are no admin keys, no god-mode wallets, and no ability for the team to upgrade or alter the contract post-deployment. Whales know this means: ✅ No rugpull risk ✅ No surprise mechanics ✅ Long-term, stable framework This is rare — especially in the meme coin sector. Every transaction involving Memetrix tokens incurs a 2.5% fee, which is immediately routed into liquidity pools — and the LP tokens are burned forever. This means: 🚫 Liquidity is permanent and untouchable 💪 Every transaction strengthens price floors 🔥 No 'team drain' mechanics — ever For whales, this is real DeFi resilience — not empty promises. Memetrix isn't run by a founder behind the scenes. It's governed entirely by token holders through a DAO — from treasury spending to exchange listings to protocol upgrades. Big holders love this. It's not just buying a token. It's buying influence. Whales don't just want price action. They want control over direction — and Memetrix gives them both. Look at the blockchain: 🔍 Spike in large-volume transactions over $10K 📈 Repeat buys from presale smart contracts 👥 Wallets with long-term holding behavior stacking $MMXX 💬 Mentions across alpha groups and Telegram whale lounges It's happening. In real time. And if you're waiting for someone to tell you when it's 'safe' to enter… You're already late. Whales move into pre-viral, pre-listing, and pre-mainstream opportunities. That's exactly where Memetrix presale is right now. Here's what sets it apart: Multi-chain support: Ethereum, Base, and BNB Ethereum, Base, and BNB Wide accessibility: ETH, USDT, USDC, BNB all accepted ETH, USDT, USDC, BNB all accepted DAO-led decisions: No centralized power No centralized power Unruggable liquidity: Engineered to grow, not vanish Engineered to grow, not vanish Real yield mechanics: Designed for scale, not speculation In short: Memetrix isn't a coin — it's a protocol wearing meme skin. And the ones who know how to read between the lines? They're already staking their claim. Getting Memetrix tokens is easy — and fast. Here's how: Get a wallet: Use MetaMask, Trust Wallet, or Coinbase Wallet Fund your wallet: ETH, USDT, USDC (on Ethereum & Base), or BNB Go to the official site: Connect & buy: No KYC, no middlemen Hold & govern: Your $MMXX = your voice in the DAO Memetrix is building fast. Presale stages are progressing. The window to enter before the crowd is shrinking by the hour. This is your chance to move with the capital, not chase it later. Don't be the one buying when the chart goes vertical. Don't wait for listings and regret your hesitation. Don't miss out because you were 'watching.' Whales are is is active. And the Memetrix presale is still open — for now. 👉 Buy $MMXX. Take isn't a meme anymore. It's a movement. And you can still be early — if you act now. TIME BUSINESS NEWS
Yahoo
an hour ago
- Yahoo
A Coinbase Director Tracked Down 913,000 'Lost Forever' Ethereum Tokens Worth $3.4 Billion—Here's What Happened
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The crypto world's 'hodl' philosophy just got a reality check. According to shocking new data from Coinbase (NASDAQ:COIN) Product Director Conor Grogan, over 913,000 Ethereum tokens—worth approximately $3.4 billion—have been permanently lost due to human errors, technical bugs, and coding mishaps. That's nearly 0.76% of all circulating ETH that will never see the light of day again. The Billion-Dollar Oops Moments The data reveals a sobering truth about cryptocurrency's unforgiving nature. Unlike traditional banking where transactions can be reversed and funds recovered, blockchain's immutable ledger means that one wrong click, one coding error, or one forgotten password can erase fortunes forever. Don't Miss: Be part of the breakthrough that could replace plastic as we know it— — no wallets, just price speculation and free paper trading to practice different strategies. The biggest single loss? The Parity Wallet bug that trapped over 513,000 ETH – worth roughly $925 million at current prices – across 178 wallets. This 2017 incident occurred when a user accidentally triggered a self-destruct function in a critical smart contract, locking away funds from multiple users permanently. Other notable casualties include the Web3 Foundation's loss of 306,000 ETH and the Quadriga exchange disaster that saw 60,000 ETH disappear into a faulty contract. Even more puzzling: users have collectively sent 24,000 ETH to burn addresses for reasons that remain unclear—digital money literally thrown into the void. The Hidden Ethereum Deflation Story While Ethereum's transition to proof-of-stake was marketed as an environmental victory, Grogan's research reveals an unexpected side effect: accidental deflation on a massive scale. The 913,000 ETH in permanently lost tokens, combined with the 5.3 million ETH burned through network fees, means over 6.2 million coins—roughly 5% of all ETH ever issued—are now permanently out of circulation. Trending: Grow your IRA or 401(k) with Crypto – . This creates an intriguing economic dynamic. Traditional economists worry about deflation in fiat currencies, but in crypto, permanent token loss effectively reduces supply, potentially supporting long-term price appreciation for remaining holders. The Real Number Is Likely Much Higher Grogan's $3.4 billion figure only scratches the surface. His analysis exclusively covers provably lost ETH—tokens trapped in identifiable smart contracts or sent to known burn addresses. It doesn't account for the potentially millions of dollars in ETH sitting in wallets where private keys have been lost, forgotten, or destroyed. Consider the early adopters who mined or bought ETH when it was worth pennies, stored it on old hard drives, and later forgot about it until prices skyrocketed. Or the investors who passed away without sharing wallet access with family members. These 'zombie wallets' could contain vast sums that appear active on the blockchain but are functionally dead. The data also excludes Genesis wallets—early Ethereum addresses that received tokens during the network's 2015 launch but have never moved their funds. Many of these are presumed abandoned, representing additional unreachable This Means for Investors For current ETH holders, this permanent supply destruction creates a complex investment thesis. On one hand, reduced supply typically supports higher prices over time. On the other hand, the data serves as a stark reminder of cryptocurrency's technical risks. The research highlights why institutional adoption has been slow and why many traditional investors remain skeptical. In traditional finance, consumer protections, insurance, and reversible transactions provide safety nets that simply don't exist in decentralized systems. For retail investors, the message is clear: crypto's high-reward potential comes with equally high responsibility. There's no customer service number to call when things go wrong, no Federal Deposit Insurance Corp. insurance to recover lost funds, and no 'undo' button for mistaken transactions. As Ethereum continues evolving with layer-2 solutions and upcoming upgrades, the network becomes more user-friendly. However, Grogan's data suggests that until self-custody becomes as foolproof as traditional banking, billions more in digital assets may join the ranks of the permanently lost. The crypto revolution promised to democratize finance, but it also democratized the risk of human error—and the consequences have never been more expensive. Read Next: A must-have for all crypto enthusiasts: . Image: Shutterstock This article A Coinbase Director Tracked Down 913,000 'Lost Forever' Ethereum Tokens Worth $3.4 Billion—Here's What Happened originally appeared on
Yahoo
an hour ago
- Yahoo
Investors plough $2bn into Ethereum ETFs as companies scoop up billions
Ethereum continues to move from strength to strength. And institutional investors are taking notice. Money pouring into the market's spot Ether exchange-traded funds made up the vast majority of spot crypto fund investments last week, according to new research from CoinShares. Of the $1.9 billion in investor money scooping up these funds, Ether accounted for more than 84% of that figure. That's the second-largest amount of money investors have spent on Ethereum funds in a week since their launch last July. The investment also outpaced that of Bitcoin. Over the same period, various Bitcoin ETFs experienced net divestment to the tune of $175 million. So, what's driving the vibe shift? Though Ethereum has long been a laggard during much of this year's eye-watering rally, analysts have pointed to three key drivers behind growing interest in the $459 billion cryptocurrency. Ether takes flight First, the rise of public companies adding millions in Ether to their balance sheet. Firms such as BitMine, GameSquare, and SharpLink have collectively purchased more than 937,753 Ether worth more than $3.5 billion, according to CoinGecko. Ethereum co-founder Joe Lubin, who led the online gaming company SharpLink through its crypto pivot, said that the firm will do many of the same financial manoeuvres as Michael Saylor's Strategy. But because Ethereum is so much different from Bitcoin, Lubin told DL News that they 'can also do so much more.' Second, analysts are touting the passage of landmark stablecoin legislation in the US as a key driver behind the uptick in Ether. That's because more than 50% of all stablecoins and tokenised financial assets are minted on the Ethereum network. 'Banks, payment players, and fintechs would continue buying operational [Ethereum] to pay transaction fees for deploying stablecoins and tokenised assets on the blockchain,' Bernstein analysts said in July. Finally, Ether's smaller size compared to Bitcoin means that it's far more sensitive to outsized investment, wrote analysts at QCP Capital, a Singapore-based trading firm. Bears take aim But that doesn't mean bears aren't waiting in the wings. As Ethereum approaches $4,000 rapidly, there is approximately $2.5 billion in short trades betting on the asset to decline in price, according to Coinglass data. Crypto market movers Bitcoin has dropped 1% in value over the past 24 hours and is trading at $118,300. Ethereum also shed nearly 1% in the same period to $3,800. What we're reading Euler DAO votes to boost revenue 414% with new fees amid red-hot lending competition — DL News What everyone's missing with Solana — Milk Road DOJ Considers Charges Against Dragonfly Over Tornado Cash Investment — Unchained CZ's wealth inches closer to Satoshi's as BNB surges 32% — DL News Liam Kelly is a Berlin-based reporter for DL News. Got a tip? Email him at liam@ Sign in to access your portfolio