Analyst Predicts Pullbacks for Ethereum Classic and One Low-Cap Altcoin, Updates Outlook on Solana and ApeCoin

A closely tracked crypto strategist is predicting dips for two altcoins while updating his forecast for Solana (SOL) and ApeCoin (APE). Pseudonymous crypto analyst Altcoin Sherpa tells his 180,700 Twitter followers that smart contract protocol Ethereum Classic (ETC) looks poised for a significant pullback after its steep rally over the past few weeks.

Timeline of Apecoin-ape, Ethereum-classic, Optimism-ethereum, Solana

As initially reported by CryptoSlate early hours of Wednesday morning, a significant exploit has caused thousands of crypto wallets to be drained of funds. The post Solana exploit related to imported Slope Finance wallets, private keys revealed appeared first on CryptoSlate.

Slope Finance has confirmed that a cohort of Slope wallets were compromised in yesterday's incident on Solana. The post Solana team traces exploit back to Slope mobile wallets appeared first on The Block.

We're on the heels of cross-chain bridge Nomad suffering a demolishing hack earlier in the week, and now hackers are doubling down with an attack on Solana hot wallets mid-way through the week. On Tuesday afternoon, reports emerged of some sort of vulnerability that was taking advantage of Solana-based wallets.

Solana (SOL/USD) price dropped on Wednesday morning as an exploit on the Layer 1 network saw a staggering 7,767 wallets impacted. As the attack, which was first flagged on Tuesday, spilled into Wednesday, the price of Solana remained wedged in red amid a green spike across the market. SOL traded to lows of $38.

Solana Spaces recently announced the opening of the “first” permanent physical retail, educational, and community space dedicated to Web3 at The Shops at Hudson Yards on Level 2, in Manhattan, New York. Solana Spaces was “founded in 2022 and is based in San Francisco.

We may be in a bear market, but that does not mean investors don't have their eyes peeled for profitable investments. Those that have been looking have their sights set on a handful of coins in the ecosystem, including Degrain (DGRN), Apecoin (APE), and Tron (TRX).

On Monday (August 1), Ethererum ($ETH), the second-most valuable cryptoasset by market cap, is trading around $1,675, after an excellent performance in July (despite the fact that we are still in a bear market). According to data by TradingView, on crypto exchange Coinbase, the $ETH price went from $1091.56 to $1687.

Apecoin was trading close to a two-month high on Monday, despite crypto prices mainly being in the red to start the week. Global crypto markets are currently down around 2% as of writing. Despite this, filecoin continued its own surge, with prices of the token up nearly 70% in the last seven days.

The bulls are gaining dominance in the market with Solana generating gains of 5.14% or currently at 0.001863 SOL/BTC. The SOL price is pulled mostly by the bulls with a slight tug coming from the bears.

Ethereum whale ranked 4th on WhaleStats, “Bonobo” has purchased 80k FTX Token (FTT) and 2.05 million Polygon (MATIC) tokens in the last 24 hours. FTX Token, MATIC, and ApeCoin (APE) are the most purchased and traded tokens by the 500 biggest ETH whales in the last 24 hours.