Investors Turn to Low Market Cap Meme Coin SPONGE As Interest in Early-Stage Investments Grows

As the price of Floki Inu drops, investors are turning their attention to another low market cap meme coin, SPONGE. Many are seeking ways to buy SPONGE at the early stages due to growing interest in early-stage investments. This update explores the latest trends in the meme coin market and discusses strategies for getting in on the action early. Despite being marketed for entertainment, SPONGE has gained traction among investors and made an impressive listing debut on Bitget and Gate.io, becoming available for trading on a total of eight exchanges. Investors can anticipate substantial growth potential for the $SPONGE token by implementing enhanced marketing strategies and incorporating full web3 capabilities.

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1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.