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Blockchain tracking firm Lookonchain says a crypto trader is looking at massive losses after one decentralized finance (DeFi) project underwent a severe correction. According to Lookonchain, a crypto whale sold nearly 18 million Ethena (ENA), a synthetic dollar protocol built on Ethereum (ETH), for a loss of more than $12 million after the altcoin plunged below $1. “A whale sold off all ENA and lost over $12 million! This whale unstaked 17.87 million ENA ($8.78 million) [on Monday] and deposited it to Binance. The whale had accumulated these ENA on Binance at an average price of $1.17, resulting in a loss of over $12 million.” ENA is trading for $0.4484 at time of writing, down 4.6% in the last 24 hours. Next up, Lookonchain reports that crypto whales are buying up top altcoin Ethereum as its price chops around $2,600. “It seems that whales are accumulating ETH! 0xb99a…BcF5 withdrew 56,909 ETH ($151.6 million) from Binance [Monday]. 0xE...

A closely followed crypto analyst says that one top-10 altcoin is forming one of the most bullish digital asset market structures around. In a new strategy session, crypto trader Ali Martinez tells his 108,000 followers on the social media platform X that payments altcoin XRP is forming a bull pennant pattern. A bull pennant pattern is a continuation pattern where a period of consolidation is often followed by a breakout. “XRP has one of the most bullish setups in crypto right now after the recent retest of the breakout zone!” Source: Ali Martinez/X He also says XRP may soar to $10, an increase of more than 217% from its current value, as crypto whales are buying massive amounts of the token. “XRP is in the middle of a massive bullish breakout… On-chain data reveals that whales have been heavily accumulating XRP. In the last week alone, they’ve purchased over 1.10 billion XRP. This buying pressure is building momentum. XRP has broken out...