The crypto market has been hit by a wave of severe corrections, as a difficult week has reignited a sense of caution among investors. During this downturn, significant selloffs were recorded, with some whales taking profits while others sought to limit their losses. On-chain data shows increased activity from large holders of Bitcoin and Ethereum. Meanwhile, US spot Bitcoin and Ether ETFs recorded combined outflows of more than $580 million on Monday, continuing a broader trend of capital withdrawals. As these massive outflows continued, market observers noted that some whales were redirecting their capital towards a new game-based memecoin project.
In brief
- US Bitcoin and Ether spot ETFs recorded $581 million in net outflows, reinforcing bearish sentiment after a week marked by high volatility.
- Bitcoin fell below $90,000, and Ethereum below $3,000, as whale sales and liquidations weighed on the entire crypto market.
- On-chain data shows that large holders are redirecting their capital towards Minotaurus, a Web3 memecoin backed by a maze game incorporating reward mechanisms.
- MTAUR's low entry price and pre-launch bonuses fuel expectations of high returns, attracting the interest of investors with high risk tolerance.
US Bitcoin and Ethereum ETFs record $581M in sales
According to market data, holders withdrew approximately $357.6 million from spot BTC ETFs on Monday. As expected, this significant exit further weakened an already fragile market dynamic.
Fidelity's FBTC dominated the ranking of releaseswith $230.13 million worth of Bitcoin withdrawn from the asset manager. Bitwise's BITB came in second with cumulative losses of $44.3 million, while Ark Invest's ARKB saw withdrawals of $34.5 million.
Grayscale's GBTC and VanECK's HODL lost $27.5 million and $21.25 million, respectively, while other instruments saw no net outflow.
Like Bitcoin, Ether ETFs also saw notable capital outflows, totaling $224.7 million according to SoSoValue. Among these funds, BlackRock's ETHA saw the largest outflows, with $139.1 million. Grayscale's ETHE comes in a distant second with $35.1 million, followed by Grayscale's ETH, which has $20.2 million in withdrawals.
Smaller outflows were also seen in Bitwise's ETHW, Fidelity's FETH, and VanECK's ETHV, while other commodities saw a quieter session. In an already weakened market, this session reinforced bearish sentiment.
At the time of writing, Bitcoin is trading at $87,068, having broken below its $90,000 support level. Ether is trading just below $3,000, following a late breakout observed on Monday.
Whales are massively accumulating this crypto at +1,000%
While blue-chip assets like BTC and Ether await a possible bullish reversal, whales appear to be turning to a new memecoin, Minotaurus (MTAUR). At the heart of the project, Minotaurus is based on a maze game incorporating customizable avatars, limited-time events and unlockable areas.
Market commentators point to MTAUR's potential for high returns as the main driver of its rising demand in recent weeks. Due to this underlying growth potential, some members of the crypto community have nicknamed Minotaurus the “1000% crypto”.
MTAUR's value proposition is also based on a set of specific offers, including vesting mechanisms and referral bonuses. With this rewards-driven model, Minotaurus seeks to distinguish itself from memecoin projects that rely primarily on hype.
Early participants can also take part in a draw of 100,000 USDTwith winnings of up to 50,000 USDT.
Experts believe that this combination of blockchain innovation and Web3 gaming mechanics positions MTAUR among the market opportunities likely to stand out during the current cycle.
Can 100 USDT really change a financial trajectory?
Some analysts point to MTAUR's particularly low price as another factor likely to attract so-called “smart money” investors. Each token is currently offered at 0.00012605 USDT in its pre-launch phase, meaning that a contribution of 100 USDT would represent approximately 805,217 MTAUR tokens.
Possible projections
Taking this initial contribution as an example, based on a MTAUR token listing price of 0.0002 USDT, the original 805,217 tokens would correspond to a gain of approximately 60 USDT.
Once launched, an upward movement bringing the price to 0.02 USDT, a development sometimes observed for gaming-related tokens, would transform the initial 100 USDT into 16,104 USDT.
Going even further, and assuming that MTAUR replicates an increase comparable to that of Likewise, a 1,000 USDT or 10,000 USDT MTAUR wallet could scale to very high amounts, provided the asset reaches even a fraction of Bitcoin's all-time high.
As the project progresses, the value of the token is likely to change. In this context, early entry could offer greater return potential. Holders wishing to position themselves on strategic market opportunities can join the Minotaurus project right now.
For more information, please see the official website. And as always, remember to do your own research (DYOR)!
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