PANews reported on August 15th that according to on-chain analyst Yu Jin, a whale who bought ETH at $1,802 in early May took profits and liquidated all 9,109.6 ETH in the early morning hours of this morning after the price fell. This resulted in a profit of $19.64 million, nearly doubling their holdings. The whale spent a total of $21.52 million to purchase and hold these ETH at an average price of $2,363 between January and May of this year. Following the price drop last night, they sold their holdings at $4,519 early this morning, netting back $41.16 million.

Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more
