The private fund targeting institutional investors would offer exposure to a range of cryptocurrencies beyond bitcoin and ether, The Information reported.
Avalanche (AVAX), the token powering the smart contracts platform Avalanche, is stirring excitement in the crypto sphere. Bullish technical indicators and upcoming developments within the Avalanche ecosystem are fueling speculation of a significant price surge, with some analysts eyeing a potential rally above $100. Related Reading: Altcoin Alert: Notcoin (NOT) Poised For 5x Growth, Analyst Says Technicals Flash Green: A Bounce In Sight? Technical analysis based on historical data and chart patterns paints a promising picture for AVAX. Analysts point to a recent corrective phase that the token appears to have overcome, potentially setting the stage for a new uptrend. Charts on trading platforms like Binance depict a support zone between $9.45 and $10.00, suggesting a strong base from which the price could bounce higher. $AVAX looking for 100+ pic.twitter.com/GUXx2EeB5e — ᴀʟᴛꜱᴛʀᴇᴇᴛ ʙᴇᴛꜱ (@AltstreetBet) June 5, 2024 Avalanche ICO Season On The Horizon? Beyond technical indicators, the buzz surrounding Avalanche stems from exciting developments brewing within its ecosystem. The project’s developers are gearing up to launch Layer 1 blockchains (L1s) that inherit Avalanche’s secure and scalable consensus mechanism. This innovation could significantly simplify the process of launching new blockchains, similar to how ERC-20 tokens are built on top of the Ethereum network. Furthermore, Avalanche’s CEO, Emin Gun Sirer, recently teased a novel concept – Initial Chain Offerings (ICOs). Unlike the traditional Initial Coin Offering (ICO) model where individual tokens are sold, ICOs would involve offering entirely new blockchains to investors. This paves the way for a potential “Avalanche ICO season,” mirroring the ICO boom witnessed in the early days of cryptocurrencies. Market observers believe this could attract a surge of interest and investment into the Avalanche ecosystem, potentially boosting the price of AVAX. Key Resistance Levels To Watch Moving on to the price targets, analysts have identified key resistance levels at $50 and $60. Overcoming these hurdles could propel AVAX towards its ambitious long-term target of $100. However, the confluence of bullish technical indicators and groundbreaking developments within the Avalanche ecosystem is undeniable. Related Reading: Banks Bust, Bitcoin Booms: Price Skyrockets 40% During US Banking Crisis AVAX Price Forecast Meanwhile, according to the latest analysis, the price of AVAX is expected to surge by an impressive 227%, potentially reaching $119 by July 5, 2024. The current market sentiment, as indicated by technical indicators from CoinCodex, is Neutral. This is in sync with the Fear & Greed Index, which stands at 75, indicating a prevailing sentiment of Greed among investors. Over the past 30 days, Avalanche has experienced 11 green days, constituting 37% of the period, with a price volatility rate of 5.59%. These factors suggest a relatively stable yet bullish outlook for AVAX in the near term. The high Fear & Greed Index indicates strong buying interest, which could drive prices higher. Despite the neutral sentiment, the significant projected price increase reflects positive market dynamics and investor confidence in Avalanche. Featured image from LinkedIn, chart from TradingView
The post Top Altcoins Attracting Whales: Major Bullish Upswing Expected appeared first on Coinpedia Fintech News
The altcoin industry has gradually gained bullish momentum as Bitcoin’s (BTC) price struggled to pump beyond $72k in the past four months. Binance’s native coin, BNB, led the altcoin industry in bullish sentiment after it pumped towards a new all-time high (ATH) above $700. The renewed Bitcoin interest from institutional investors, depicted by the high …
With the cryptocurrency market constantly evolving, investors are always on the lookout for the next big opportunity. Here, we highlight the top four altcoins that are poised to offer substantial returns in 2024. Related Reading: Crypto Expert Reveals Top 3 Trades To Take Now 1. MAGA VP ($MVP) MAGA VP ($MVP) is making waves in the crypto community with its unique blend of political engagement and rewarding mechanisms. Known for its strong community support and strategic partnerships, $MVP offers token holders rewards in $TRUMP tokens and participates in significant political events. Recent developments include the launch of a new app featuring a prize pool for voting activities, making it a compelling investment for 2024. 2. NOT Token Notcoin is a Telegram-based game that has garnered the interest of millions of players in recent months. The game has amassed a total of 35 million players, reaching a peak of six million daily active users. This makes it significantly more popular than most other crypto games. After experiencing a retracement from its previous high, Notcoin (NOT) has started to show significant bullish momentum, capturing the attention of both traders and investors alike. This continuing upward trend suggests a strong level of market confidence and growing optimism regarding its future potential. 3. Solana (SOL) Solana continues to be a favorite among investors due to its high-speed transactions and scalability. Solana (SOL) is an open-source project leveraging blockchain’s permissionless structure to provide decentralized finance (DeFi) solutions. The platform has experienced a surge in the total value locked (TVL) in its DeFi applications. This trend is also boosting the popularity of meme coins on the Solana blockchain. Should market conditions shift, this dynamic could position Solana as a noteworthy crypto asset, making it one of the top altcoins poised for significant growth. 4. Ethereum (ETH) Ethereum remains a cornerstone of the cryptocurrency market. With ongoing upgrades like Ethereum 2.0 and ETF involvement, ETH is set to maintain its position as a leading investment option. Despite facing criticism for high transaction fees, Ethereum remains a dominant force in the crypto space, powering thousands of applications and other altcoins with its robust blockchain infrastructure. Related Reading: Shiba Inu Burn Rate Flatlines With 99% Crash, End Of The Road For SHIB? Conclusion Investing in altcoins can be highly rewarding, especially with thorough research and strategic choices. The altcoins listed here, including MAGA VP ($MVP) and NOT Token, are set to deliver impressive returns in 2024. Stay informed and consider diversifying your portfolio with these promising assets. Cover image from MAGA VP, Chart from Tradingview
The post Three Unmissable ‘High Potential’ Altcoins for June 2024 appeared first on Coinpedia Fintech News
Analyst of the channel Altcoin Buzz has brought to attention three altcoins that may have missed the investors’ portfolio this season. Exploring pivotal themes such as gaming, privacy, and social connectivity, he spotlights three nascent opportunities aligned with these overarching trends. XRAY The analyst highlighted XRAY as an early opportunity. XRAY is a gaming wallet …
The post Solana Launches Record 455K Tokens In May appeared first on Coinpedia Fintech News
Solana has witnessed a remarkable creation of 455k tokens in May, surpassing other blockchains like Ethereum Layer 2 Base and BNB Chain. The surge was largely driven by meme coins, with Dogwifhat, Bonk, and Book of Meme drawing significant attention. Platforms like Pumpdotfun have simplified token creation on Solana enabling anyone to launch tokens in …
The post Kaspa Crypto Jumps Big! Will KAS Price Record A New ATH This Month? appeared first on Coinpedia Fintech News
The cryptocurrency market continues to display a mixed sentiment as top tokens display a neutral price action whereas the mid-cap and low-cap altcoins have recorded significant price action in their respective portfolios over the past few days. On the other hand, the Kaspa (KAS) price has recorded a surge of 328% in its trading volume …
The post Top Altcoin Investment Strategy To Turn Turn $1,000 into $10,000 in 2024 appeared first on Coinpedia Fintech News
Amid the renewed bull cycle, the crypto market is full of potential, as modest investments might bring substantial returns. Bitcoin has been leading this revival, exceeding its 2021 peak, making it possible for further growth. With BTC’s continued growth, the broader market is likely to follow, which will present a wide range of opportunities to …
The post GameStop Mania: Roaring Kitty Reveals $115M GME Holdings, Will This Ignite Memecoin Rally This Week? appeared first on Coinpedia Fintech News
After more than three years in deafening silence on the Reddit social platform, popular meme stock trader Keith Gill, alias Roaring Kitty, has posted intriguing details of his portfolio. According to his Reddit post on Sunday, Gill holds up to 5 million GME stocks, which he bought at $21.27 per share and are now worth …
The post Notecoin (NOT) Price Reaches All-Time High; Surges Over 350% in a Week appeared first on Coinpedia Fintech News
Telegram-based cryptocurrency Notecoin (NOT) has reached an exceptional weekly rally to over 350%, an unexpected level. Surrounded by a generally static crypto market, Notecoin stands out by surging an additional 40% on Sunday, resulting in its all-time high of $0.027. The current value of NOT is $0.02373, and its market cap is $2.439 billion. In …
Polygon (MATIC), a Layer-2 scaling solution for the Ethereum blockchain, finds itself in a curious position. Recent data from Messari paints a picture of a network brimming with activity – daily active addresses surging nearly 120%, new user sign-ups exploding by 70%, and daily transactions reaching a staggering 4 million. Yet, beneath this bustling surface lies a troubling undercurrent: a 19% drop in quarterly revenue compared to the previous quarter, and a hefty 40% decline year-over-year. Related Reading: Ethereum Bloodbath: Over $55 Million In Longs Liquidated As Price Plummets Polygon: A Network On Fire Polygon’s user base is clearly smitten. The first quarter of 2024 witnessed a land rush, with new addresses flocking to the network at an unprecedented rate. This surge in user adoption translated into a transaction frenzy, with daily interactions on the platform quadrupling. The decentralized finance (DeFi) sector on Polygon also thrived, with the total value locked (TVL) in DeFi projects climbing 30% compared to the previous quarter. The non-fungible token (NFT) ecosystem on Polygon also got a shot in the arm, with sales volume rising by nearly 20%. The Revenue Riddle So, why the long face amidst the celebratory confetti? The answer lies in Polygon’s dwindling revenue stream. Despite the exponential growth in activity, the network’s coffers are taking a hit. The $7 million earned in Q1 2024 pales in comparison to the $10 million and $12 million raked in during the previous quarter and the same period last year, respectively. This disconnect between booming activity and declining revenue is the million-dollar question that has analysts scratching their heads. MATIC market cap currently at $6.8 billion. Chart: TradingView.com Fee Fiasco Or Funding Flux? There are two main suspects behind this revenue paradox. The first culprit could be Polygon’s transaction fee structure. Perhaps, in a bid to attract more users, the network lowered its fees to an extent that, despite the massive increase in transactions, the overall revenue generation suffered. Another possibility lies in a potential shift in Polygon’s revenue sources. Maybe there was a decline in income from a specific source, such as grants or partnerships, that wasn’t adequately compensated for by growth in other areas. Related Reading: Can DEX Boom Save Cardano? ADA Seeks Recovery As Trading Activity Surges Christian Encila Christian Encila 22 hours ago 2 mins read What Lies Ahead Polygon faces a critical juncture. The network’s ability to attract users and foster a vibrant DeFi and NFT ecosystem is undeniable. However, if it fails to address the revenue conundrum, its long-term sustainability could be at risk. Moving forward, transparency from Polygon regarding its fee structure and revenue streams will be crucial in assuaging investor concerns. Additionally, exploring alternative revenue models, such as offering premium services or strategic partnerships, could be the key to unlocking Polygon’s full financial potential. Featured image from Zameen.com, chart from TradingView
The post What to Expect from Ripple (XRP) & Cardano (ADA) Prices: Will They Ever Make It to $1? appeared first on Coinpedia Fintech News
The market sentiments do not appear to have ever impacted the most popular altcoins, Ripple (XRP) and Cardano (ADA). The prices of both tokens have remained stuck around $0.5 for more than a month. Therefore, this raises the possibility of the tokens losing momentum, which may end up losing the support that they held tightly …
The post Top Altcoins Under $1 Other Than XRP & ADA to Look at Before the Next Bullish Wave appeared first on Coinpedia Fintech News
The markets seem to remain stuck within a bearish trend, while some altcoins do carry hidden bullish divergence. These are expected to trigger as soon as the Bitcoin price displays some strength and breaches above the current ATH to reach $75,000. However, until then, the markets may witness a brief upswing, which may be a …
The post Memecoins Tumbling Down, FLOKI, & Pepe Plunge Heavily: What’s Next? appeared first on Coinpedia Fintech News
The crypto markets are facing extreme bearish pressure as the Bitcoin price is slumping hard after losing the $68,000 support level. This has also compelled the other altcoins to undergo a notable pullback, in which the memecoins have taken the lead. The tokens which were leading the top performers now face massive pullbacks. Among them …
The post Shiba Inu Dominates Dogecoin In Whale Transactions: What’s Next For SHIB Price? appeared first on Coinpedia Fintech News
Shiba Inu has seen notable price fluctuations, challenging Dogecoin’s dominance. Beginning the year below $0.000010, SHIB surged over 450%, reaching a high of $0.000045 by mid-February. However, it remains 70% under its peak price from 2021. Recently, whale interest in SHIB has soared, even as Dogecoin shows bearish on-chain metrics. Analysts suggest that DOGE investors …
The ever-evolving world of crypto assets could be poised for substantial growth, as market experts at the cryptocurrency channel Our Crypto Talk are heralding an unprecedented super bullish phase for the industry, driven by a convergence of significant global developments. Key among these is the adoption of cryptocurrency assets in the impending United States Presidential […]
The post Altcoins Stumble Amid Bearish Action! ONDO and FTM Price Poised For a 10% Pullback? appeared first on Coinpedia Fintech News
Top altcoins continue to record a consolidated price action over the past few days, highlighting a decline in the price action for these tokens in the crypto market. Moreover, ETH-based tokens have recorded the highest correction this week, indicating increasing selling pressure within the crypto space. With the cryptocurrency market entering into a consolidated phase, …
The post Could Solana (SOL) Be the Next Cryptocurrency to Get an ETF in 2024? appeared first on Coinpedia Fintech News
In this second quarter of the year, excitement is brewing over the possibility of a Solana (SOL) exchange-traded fund (ETF). In a recent interview, Austin Federa from the Solana Foundation discussed the potential for Solana to get its own ETF, similar to the newly approved Ethereum ETF. After ETH ETF, is Solana ETF Next? While …
The post This May Spark a Fresh Upswing if Shiba Inu (SHIB) Price Manages the Break Out of These Levels! appeared first on Coinpedia Fintech News
The crypto markets appear to have a long-term impact on the events as the prices continue their usual trend of consolidation within a narrow range. Although the consolidation was followed by a brief upswing, the bulls appear to have been exhausted as the buying volume is below par. Amid the rising attention over memecoins, the …
The post Crypto Whale Accumulation Signals Major Altcoin Season on the Horizon appeared first on Coinpedia Fintech News
The cryptocurrency industry has experienced heightened volatility in the past few days as investors position their portfolios for maximum gain. Bitcoin (BTC) price briefly rallied above $70k on Monday before quickly retracing below $68k on Tuesday during the early Asian session. While most of the altcoins led by Ethereum (ETH) slipped in the past 24 …
The post Lark Davis’s Bitcoin and Ethereum Price Prediction: Altcoins Rally with Record ETF Inflows appeared first on Coinpedia Fintech News
The altcoin market is on fire! Fueled by a surge in value and a decline in Bitcoin dominance, altcoins are experiencing a red-hot rally. The total market cap of altcoins has skyrocketed 15% in just two weeks, reaching a staggering $1.156 trillion. But what’s driving this insane surge? Let’s find out. Bitcoin ETFs Drive Market …
A quant has explained how a pattern currently forming in the Ethereum Open Interest could imply the altcoin season is coming “sooner than expected.” Altcoin Season May Be Approaching Soon Based On Ethereum Pattern In a CryptoQuant Quicktake post, an analyst has discussed about why an altcoin season may be coming soon for the cryptocurrency sector, based on a trend taking place in a couple of Ethereum and Bitcoin indicators. The first metric of relevance here is the “Open Interest,” which keeps track of the total amount of derivatives positions related to a given asset currently open on all centralized exchanges. Related Reading: Shiba Inu One Of The Most-Traded Tokens By Whales, Data Shows When the value of this metric goes up, it means the speculators are opening up fresh positions for the coin right now. On the other hand, a decline implies the users are either closing up their positions of their own volition or getting forcibly liquidated by their platform. Now, here is a chart that shows how the trend in the Open Interest has compared between Bitcoin and Ethereum over the past year: As displayed in the above graph, the Bitcoin Open Interest has been moving more or less sideways recently, while at the same time, the metric has registered growth for Ethereum. This would suggest that ETH has been seeing more appetite for derivatives market contracts than the original cryptocurrency recently. One of the driving factors behind this could be the news cycle related to the approval of the spot exchange-traded funds (ETFs) for the asset. In the same chart, the quant has also attached the data for another indicator: the Estimated Leverage Ratio (ELR). This metric measures the ratio between the Open Interest and the Exchange Reserve for any asset. The latter is naturally the total amount of the coin that’s currently sitting in the wallets of all centralized exchanges. The ELR basically provides us with information about the amount of leverage that the average user in the derivatives market is opting for right now. From the graph, it’s visible that this ratio has seen a surge for Ethereum recently but has been showing flat action for Bitcoin. Thus, it would appear that not only has ETH been seeing more speculative interest than BTC recently, but also these users opening contracts are going for higher risk as they are taking on more leverage. Related Reading: Analyst Says “Only A Matter Of Time” Before Bitcoin Flies Past ATH The analyst believes that the fact that Ethereum has overtaken Bitcoin in these indicators could be a potential sign that an altcoin season may be approaching soon. “If Ethereum’s price continues to consolidate in the current range, it’s very possible that the altcoin season will start sooner than expected,” notes the quant. It now remains to be seen how things play out in the market in the near future, given this shift of trend. ETH Price After seeing a slowdown earlier, Ethereum has been back on track in the past couple of days as its price has now climbed back above the $3,900 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
The post Pepe (PEPE) Price Hits New All-time High After Flipping Polygon (MATIC) in Market Cap appeared first on Coinpedia Fintech News
Amid the ongoing crypto cash rotation, as Bitcoin (BTC) struggles to rally beyond $72,000, the frog-themed meme coin Pepe (PEPE) has emerged as one of the biggest winners. According to the latest crypto oracles, as of Monday during the early London session, Pepe’s price hovered around $0.0000168, up over 11 percent in the past 24 …
The cryptocurrency market continues to navigate a sea of uncertainty, and Avalanche (AVAX) is no exception. While AVAX has displayed some resilience compared to its altcoin peers, a closer look reveals a market grappling with conflicting signals – a mix of cautious optimism and underlying unease. Related Reading: Shiba Inu On The Verge Of 600% Rally? Analyst Weighs In Bullish Whispers Or A Mirage? The future of AVAX remains shrouded in uncertainty. While some positive signs exist, like relative outperformance and pockets of bullish sentiment, they are countered by concerning metrics like dwindling market control and a significant drop in trading activity. Avalanche: Resistance Levels Loom Large A look at AVAX’s six-month chart reveals a rollercoaster ride, characterized by sharp peaks and troughs. This volatility highlights AVAX’s susceptibility to broader market trends and its dependence on specific developments within its ecosystem. Over the past few months, AVAX has exhibited a pattern of price spikes followed by equally sharp corrections. Currently, the altcoin seems to be consolidating around the $38 mark after a recent dip from April’s highs. If AVAX can maintain support around the crucial $35 level, there’s a possibility for a northward trajectory, especially if a broader bull run materializes in the cryptocurrency market. However, significant resistance awaits at $48 and $53 – price points that AVAX has repeatedly tested and failed to surpass in recent months. A sustained breakout above these levels would signal a significant shift in momentum, potentially propelling AVAX towards the $80 or even $100 mark by the third quarter. A Tale Of Two Markets: Where Do Traders Stand? The trading scene surrounding AVAX presents a curious dichotomy. Coinglass data reveals a staggering 60% drop in trading volume, signifying a significant decline in market activity. This is further corroborated by a relatively balanced long/short ratio across various platforms, suggesting overall indecision among traders regarding AVAX’s future. However, a glimmer of bullish sentiment emerges from Binance, a prominent cryptocurrency exchange. Here, the long/short ratio skews considerably higher, indicating a potentially more optimistic outlook among individual traders on this specific platform. Meanwhile, with a 40% rating on the Fear and Greed Index, the current status of the AVAX market is characterized by neutral mood, indicating that investors have balanced opinions. Related Reading: Chainlink On Fire: Price Nears $18, Profit Ratio Blazes To 2022 Levels Losing Dominance, Waning Interest? AVAX’s struggles extend beyond trading. The altcoin seems to be loosening its grip on market share, with search interest also declining. This translates to a lack of market control and potentially waning general interest – not exactly the recipe for success for a token aiming for significant gains. Featured image from Summitpost, chart from TradingView
The post XRP ETF and Solana ETF Likely by 2025: Predicts Standard Chartered’s Geoffrey Kendrick appeared first on Coinpedia Fintech News
Geoffrey Kendrick, the Head of Forex and Digital Assets Research at Standard Chartered Bank, recently said that he believes cryptocurrency ETFs for coins such as Solana and XRP could be approved by 2025. XRP ETFs likely by 2025 The recent approval of Ethereum spot ETFs by the SEC could signal a major shift in the …
The post PEPE Price Dips: Is a 25% Drop or Rally on the Horizon? appeared first on Coinpedia Fintech News
The frog-themed crypto project Pepe (PEPE) remains the most sought-after meme coin. The mid-cap altcoin, with a market capitalization of about $5.795 billion, had the highest daily traded volume of about $2.624 billion in the meme coin industry. The prior spot Ethereum ETF hype triggered a notable rise in Ether-based altcoins. However, the approval of …
The world of cryptocurrency is no stranger to the bizarre, but this week, a Solana memecoin developer took things to a fiery new extreme. Mikol, the founder of the newly launched “Truth or Dare” (DARE) token, is recovering in a Miami hospital after suffering third-degree burns during a livestreamed stunt gone horribly wrong. This incident […]
The post With Over 80% Rise in Volume, Chainlink (LINK) Price Advances to Enter Crucial Resistance Zone appeared first on Coinpedia Fintech News
Chainlink has received much-deserved attention in the past few days, which has enabled the price to gain momentum and lead a fine upswing. This caused the price to surge above the descending trend line and after a small correction, the token started with a fresh upswing. The current trade set-up suggests the LINK price is …
The post Pepe Coin (PEPE) Price Surge to New Heights: Market Cap Exceeds $6 Billion appeared first on Coinpedia Fintech News
The cryptocurrency market is surprised as Pepe Coin, with its frog-based aesthetic and popular meme token status, hit a large milestone today. Despite taking large liquidations in the last 24 hours, the token keeps rising, taking new heights in its cryptographic journey. Market Cap at ATH Reaching a market capitalization value of over $6 billion …
The post Toncoin Price Surges Over Telegram’s New Digital Currency Announcement appeared first on Coinpedia Fintech News
Telegram has introduced a new digital currency tailored for seamless purchases within bots and gadgets, designed to revolutionize transactions in the ecosystem. Subsequently, Toncoin witnessed a surge of 2.66% price increase in a day, reflecting market sentiments over the developments. Investors and enthusiasts closely monitor Toncoin’s performance, recognizing its potential implications for Telegram in the …