The post “The Next SEC Chair Must Be Named Before US Election”: Gemini Co-Founder appeared first on Coinpedia Fintech News
According to Tyler Winklevoss, the US government must ‘take action’ to inform the cryptocurrency industry, who will be leading the securities watchdog ahead of the US election. “We should demand to know, among other things, who the next chair of the SEC is before we head to the ballot box,” Winklevoss stated in a lengthy …
Layer 2 scaling solution Polygon has maintained strong network activity even as the broader cryptocurrency market and its native token, MATIC, experienced a downturn in the second quarter of 2024, according to a new report from market intelligence platform Messari. Polygon Weathers Crypto Market Downturn While MATIC saw a 44.3% drop in its circulating market cap to $5.5 billion over the quarter, placing it as the 20th largest crypto asset (currently at the 26th position), the protocol’s on-chain metrics remained strong. This is in contrast to larger cryptocurrencies such as Bitcoin and Ethereum, which saw their market capitalization decline by 12% and 6%, respectively, over the same period. Related Reading: Why Is ETH Price Struggling Despite The Spot Ethereum ETFs Launch? The key driver behind Polygon’s stability in network performance during the second quarter of the year, according to Messari, was the implementation of Ethereum Improvement Proposal (EIP) 4844 on the Polygon mainnet in Q1 2024. This upgrade, which introduced “blobs” to the network, significantly reduced the average transaction fee on Polygon from $0.017 to just $0.01, resulting in a decrease of 41.1%. As a result, Polygon’s revenue derived from network transaction fees fell 40.6% to $4 million in Q2 2024. However, this drop was not due to a decrease in user activity, but rather the lower fees enabled by EIP-4844. In fact, Polygon’s user metrics continued to soar, with the protocol seeing strong growth across several key indicators. On-Chain Activity And Ecosystem Growth According to the report, the average number of daily active addresses climbed to 1.2 million, a 47.6% increase quarter-over-quarter (QoQ). The average number of daily returning addresses rose even more, up 50.5% to 1 million. Moreover, new addresses being added to the network grew by 31.7% to 167,800 per day on average. The report also notes that Polygon’s transaction volume also held steady, averaging 4.1 million daily transactions, just below its all-time high and representing a 3.9% increase from the prior quarter. In comparison, fellow Layer 2 networks Arbitrum (ARB) and Base saw average daily active addresses of 545,000 and 528,000 respectively. Related Reading: Crypto AI Token RENDER Soars 15.6% After Rebrand, Can It Hit $10? While Polygon’s decentralized finance (DeFi) total value locked (TVL) dropped 22.9% to $1 billion, this was largely attributable to the decline in MATIC’s price rather than a net outflow of capital. Messari reported that TVL denominated in MATIC actually increased by 38.1% to 1.8 billion tokens. However, DeFi protocols on Polygon saw mixed results, with Aave, Uniswap, and SushiSwap all experiencing declines in TVL ranging from 13% to 25%. Quickswap saw the largest drop at 35%. Lastly, Polygon’s non-fungible token (NFT) market also remained stable, with average daily NFT volume dipping slightly by 5.7% to $1.8 million. However, the number of daily NFT sales actually increased by 1.8% to 52,000, underscoring ongoing collector interest. At the time of writing, MATIC has experienced a mere 5% increase to a trading price of $0.512, after hitting a 2-year low of $0.428 on July 5th. Coupled with this worrying price action, the token has seen a 30% decrease in trading volume over the past few days, amounting to $197 million, according to CoinGecko data. All of this has resulted in an 82% difference to MATIC’s all-time high of $2.91, which was set during the 2021 bull run. Featured image from Shutterstock, chart from TradingView.com
During the 2024 Bitcoin Conference in Nashville, Tennessee, Jan van Eck, CEO of global asset manager and Bitcoin exchange-traded fund (ETF) issuer VanEck, made headlines with his revealing comments about his personal Bitcoin holdings. Van Eck Reveals Personal BTC Holdings During his appearance at the conference, Van Eck began by sharing his perspective on Bitcoin’s growth and evolution over time, likening it to a “teenager” that is not yet fully formed, as many investor classes have not yet joined the market. Related Reading: Wall Street Expert Sees 20x Potential In Ripple Via XRP And IPO Addressing his investment approach, Van Eck revealed that in his conversations with other attendees at Bitcoin conferences, he has found that they tend to hold significantly more Bitcoin in their portfolios. He further stated: Everyone I meet at Bitcoin conferences owns way more in their own portfolio, and I always say, wait a minute, I always want to tell people what I’m doing personally because they should know. Interestingly, when asked about his portfolio, Jan Van Eck replied that he owns “well over 30%” in Bitcoin without disclosing the amount in BTC or USD. This disclosure comes as VanEck recently published a report outlining a significant bullish long-term price projection for BTC, suggesting that the Bitcoin price could reach a value of $2.9 million per coin by 2050. $2.9M Bitcoin Forecast By 2050 Per the report, Bitcoin’s scalability issues, which have historically hindered widespread adoption, will be resolved through the emergence of advanced Layer-2 (L2) solutions. By combining Bitcoin’s “immutable property rights and sound money principles” with the increased functionality of Layer 2 technology, the asset manager envisions creating a new, globally accessible financial system. Under this optimistic scenario, the VanEck team believes that by 2050, Bitcoin could be used to settle 10% of the globe’s international trade and 5% of the world’s domestic trade. According to the report, this level of adoption could lead to central banks holding 2.5% of their assets in Bitcoin, driving the price of the largest cryptocurrency on the market to a substantial $2.9 million per coin by the year 2050. Related Reading: Why Is ETH Price Struggling Despite The Spot Ethereum ETFs Launch? In addition, the report estimates that Bitcoin L2 solutions could be worth a total of $7.6 trillion, or approximately 12% of Bitcoin’s total projected value. The asset manager further noted: Though it has established itself as an important store of value assets, our projection of its price more than 25 years into the future is predicated on the assumption that increasing numbers of people around the globe use Bitcoin as a medium of exchange. At the time of writing, BTC was trading at $67,600, up over 4% in the last 24 hours, after hitting a weekly low of $63,500 on Thursday. Featured image from DALL-E, chart from TradingView.com
A study from TRM Labs says that Russia’s involvement in illegal crypto operations grew a lot in 2023. Almost 70% of all cryptocurrency earnings from ransomware came from groups of people who spoke Russian. This makes them big players in this field. Related Reading: Kamala Harris Finds Ally In Ripple CEO Amid Crypto Backlash It […]
The imaginative gaming bot Catizen on Telegram has earned a solid $16 million from in-game purchases in the last few days. This game boasts a massive fan base and has a good impact by helping stray animals – cats, specifically. In addition to being very profitable, it also gives a percent of its profits to […]
The post MAGA Team Revealed Faces Amidst Nashville Bitcoin Conference -Token Surged 18.31% appeared first on Coinpedia Fintech News
The team behind one of the famous Donald themed tokens called MAGA revealed their faces during Bitcoin conference 2024 at Nashville. This is the first time some meme coin team has shown their faces to the world. Let’s explore what this means for the MAGA token and for the investors. Hidden faces behind meme coins …
In the ongoing global economic and geopolitical rivalry, the United States may have a powerful new weapon – Bitcoin (BTC). That is the argument made by Sam Lyman, the director of public policy at Riot Platforms, one of the largest Bitcoin mining companies. America’s Key To Economic Supremacy? Writing for Forbes, Lyman drew parallels between […]
Pro-XRP and crypto attorney John E. Deaton, who won the Republican nomination for Senate in Massachusetts, has emerged as one of the largest crypto holders in the political space ahead of the election, with significant holdings in the largest digital assets on the market. XRP Defender John E. Deaton’s Crypto Holdings Exposed Deaton, known not […]
The Financial Conduct Authority (FCA) has slapped the UK subsidiary of Coinbase – CB Payments Limited – with a $4.5 million penalty for breaking a voluntary agreement meant to stop high-risk customers from being onboarded. The FCA brought to light serious problems with the control systems at CBPL. Related Reading: Veteran Trader Champions Bitcoin, Says […]
A crypto analyst has predicted that Bitcoin (BTC), the world’s largest cryptocurrency, is on track to reach an unprecedented $263,000. However, he also emphasized that this bullish surge to new all-time highs is contingent on Bitcoin meeting specific market conditions. Bitcoin Set For Massive Rally To $263,000 In an X (formerly Twitter) post on July 23, a crypto analyst identified as ‘Trader Tardigrade’ revealed that Bitcoin’s current price chart was forming a key technical pattern known as the “Cup with Handle chart pattern.” Notably, the Cup with Handle pattern is a unique technical indicator where the price movement of a cryptocurrency typically resembles a cup, followed by a downward price trend which emulates a handle. This handle often signifies a buying opportunity to go long on the asset. Related Reading: Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down? Sharing a price chart illustrating Bitcoin’s Cup with Handle pattern, Trader Tardigrade noted that Bitcoin could witness a substantial rally to a measured target of $263,000 before the end of 2024. The analyst disclosed that for this bullish surge to happen, Bitcoin’s price will have to break above the $68,000 level, which represents the handle part of the Cup with Handle chart pattern. In a more recent X post, the crypto analyst revealed that Bitcoin’s price has reached the upper resistance of the descending channel pattern. This pattern signifies when the price of a cryptocurrency is moving within two parallel trend lines and sloping downwards. Typically, the upper trend line in this pattern acts like a resistance and the lower line acts as a support. The analyst further noted that Bitcoin’s price has successfully reached the upper resistance of the descending channel. However, he disclosed that the resistance was weaker than the lower support, making it easier for the cryptocurrency to potentially breakthrough. Trader Tardigrade also predicts that Bitcoin could undergo a brief period of consolidation before witnessing its next breakout move. The analyst declared that the market was currently in the middle of a bull run, with Bitcoin set to surge even higher until late 2025. Key Support Level Identified For Bitcoin’s Next ATH Bitcoin’s price is currently trading at $64,239, marking a slight decrease of 3.11% in the last 24 hours, according to CoinMarketCap. Despite the cryptocurrency’s struggles to reach new highs, Ali Martinez, a prominent crypto analyst, remains bullish on its future outlook. Related Reading: Machine Learning Algorithm Predicts Shiba Inu Price Will Rise 119% In 5 Days Sharing a price chart depicting Bitcoin’s UTXO realized price distribution (URPD), Martinez predicted that BTC is poised to surge to new all time highs soon. The analyst also disclosed that the $66,000 price mark was a crucial support level for Bitcoin. He added that if Bitcoin succeeds in holding a price level at $66,000, it would set a strong foundation for a potential rally to new levels. Featured image created with Dall.E, chart from Tradingview.com
The post Marathon Digital Acquires $100M BTC, Declares Shift To HODL Strategy appeared first on Coinpedia Fintech News
In a significant move, Marathon Digital has announced a $100 million Bitcoin purchase, bringing its total holdings to over 20,000 BTC. The company has also declared a shift to a full HODL (Hold On for Dear Life) strategy for its Bitcoin treasury policy, effective immediately. Under this new approach, they will retain all Bitcoin mined …
MonoSwap, the distributed exchange and staking platform, said on July 24 that it has experienced a major attack, hence advising customers to take quick fund withdrawals. Related Reading: Sayonara! Gate.io Announces Withdrawal From Japanese Crypto Market The news rocked the crypto community as it underlined the constant dangers in the field of digital currencies. The […]
The post Altcoin Season Delayed To October 2025; But Here’s What’s Happening in Q4 appeared first on Coinpedia Fintech News
Monitoring altcoins remains crucial at a time when developments are flooding the market everyday. Whether focusing on memes, AI, gaming, RWA, or DeFi projects, the next altcoin season promises opportunities. The current bull market presents a rare opportunity to create generational wealth, according to leading market analysts. Altcoins are also poised for another season. Recent …
The anticipated 2024 November elections in the US have stirred discussions within the crypto community regarding the potential stance of Vice President Kamala Harris towards the industry, should she become the Democratic Party’s nominee. With uncertainty shrouding her position, voices from the crypto space have raised concerns about her willingness to support the crypto sector […]
The post Bitcoin Price Prediction: ETF Sell-Off Weighs on Bitcoin Bulls; $70K Target Appears Unlikely appeared first on Coinpedia Fintech News
Currently, Bitcoin is trying to escape a critical short-term warning signal. This situation is largely attributed to recent activities within Bitcoin Exchange-Traded Funds (ETFs). On Tuesday, there was a significant net outflow of approximately $78 million from spot Bitcoin ETFs. According to analyst Josh of Crypto World, this outflow trend is causing ETF providers to …
Following Kraken exchange’s recent distribution, Mt. Gox creditors have now been slated to receive the final batch of their long-awaited funds. Earlier today, Bitstamp, a renowned digital currency exchange, announced it will distribute the next batch of Bitcoin, Bitcoin Cash, and Ethereum to affected parties. Related Reading: Mt. Gox Sends Bitcoin Again, This Time To […]
Bitcoin (BTC), the largest cryptocurrency by market capitalization, took over the Las Vegas Sphere over the weekend. The flagship crypto was displayed on the largest LED screen in the world as part of Crypto.com’s anniversary. Despite the excitement, a discussion sparked regarding Dogwifhat’s campaign to bring the memecoin to the Sphere. Related Reading: Bitcoin Conference […]
BitcoinOS successfully verified the first ZK-proof on the BTC mainnet, signaling a new era for Bitcoin as a platform for decentralized applications.
Contrary to earlier speculation, Vice President Kamala Harris has declined to attend the much-anticipated Bitcoin 2024 conference in Nashville, shifting the spotlight to former President Donald Trump, whose highly anticipated speech could have a major impact on Bitcoin and the entire nascent industry. Kamala Harris Opts Out Of Bitcoin Conference Initially, discussions were indicating Harris’s […]
Today, Ferrari announced the extension of its crypto payment options to its network of European dealers, a move set to take effect by the end of this month. This expansion follows a successful inaugural rollout in the United States last year. Buy Ferraris With Crypto Across Europe The Italian luxury sports car manufacturer initially revealed […]
Amid the recent recovery from a significant price correction of over 25% that sent the Bitcoin price to a 6-month low of $53,500, the largest cryptocurrency on the market has since recovered to trade in the $66,000 to $68,000 range despite the start of Mt. Gox creditor repayments. Investors, buoyed by prospects of continued price appreciation, have adopted a HODL stance, opting to retain their assets rather than selling them off following the alleged hack suffered by the Bitcoin exchange in 2011. BTC Hodlers Stand Firm Data from market intelligence platform Arkham reveals that Mt. Gox initiated a significant movement of $2.47 billion worth of BTC to new wallets, facilitating the distribution of 5,106 BTC worth $335 million to four distinct Bitstamp addresses on Wednesday. Concurrently, creditors have commenced receiving their owed Bitcoin and Bitcoin Cash (BCH) through the US-based crypto exchange Kraken, as previously reported by NewsBTC on Thursday. Despite initial concerns of a sell-off akin to the June events, where the German police’s wallet sold over $3 billion in BTC, impacting Bitcoin’s market performance, analytics from CryptoQuant indicate a positive shift. Related Reading: Road To $200: Crypto Pundit Reveals Key Levels To Watch For The Solana Price A notable increase in Bitcoin withdrawals from Kraken post-Mt. Gox reimbursements suggest that affected users opt to hold onto their coins, moving them from exchanges to cold wallets. On-chain data compiled by the firm shows that in the past 24 hours alone, more than 5,000 BTC worth $329 million have been withdrawn from exchanges, contributing to the current consolidation price action and stability for the Bitcoin price over the past few days. Arkham’s data further illustrates Mt. Gox’s ongoing efforts to repay creditors, with over 50,000 BTC transferred from the exchange’s wallet out of a maximum of 142,000 BTC while retaining 90,344 BTC valued at approximately $6 billion in BTC. Echoing the sentiment of CryptoQuant’s findings, Alex Thorn from Galaxy Digital highlights that most creditors are long-term Bitcoin proponents with a profound understanding of the technology. Thorn asserts that their preference to reclaim Bitcoin rather than opt for a USD payout signifies a strong inclination towards holding their assets rather than triggering a sell-off. Moreover, Thorn points out that the substantial capital gains implications of selling Bitcoin could dissuade creditors from liquidating their holdings. Bitcoin Price Analysis At the time of writing, the largest cryptocurrency on the market is trading at the $66,400 milestone, as it is a key support level for the Bitcoin price on its way to retesting the upper resistance walls with an eye on the all-time high of $73,700 reached on March 14th. Adding to the bullish sentiment surrounding BTC’s price performance over the past week, the price may find notable support levels that could prevent further declines in the event of a sell-off by some Mt. Gox creditors in the coming days at $65,000. Related Reading: Litecoin (LTC) Set To ‘Wake Up’, According To Legendary Trader’s Forecast Another key level for the bulls to watch is the $63,500 area, where the 200-day exponential moving average (EMA) is located, which, as seen in the daily BTC/USDT chart below, has previously accompanied the price on further gains and acted as a strong support for BTC. Ultimately, it remains to be seen what stance creditors of the failed Mt. Gox exchange will take in the coming days and weeks as more repayments are expected to flood creditors’ wallets and what impact this may have on the price Featured image from DALL-E, chart from TradingView.com
The post Franklin Templeton Endorses Solana, Sparks Solana ETF Speculations! appeared first on Coinpedia Fintech News
Franklin Templeton has recently endorsed Solana sparking speculations about a potential spot Solana ETF. Just yesterday, Franklin Templeton’s Ethereum ETF debuted, attracting $13.2 million in initial inflows. Moreover, its Bitcoin ETF holds assets exceeding $450 million. Franklin Templeton Next To File Spot Solana ETF? “Besides Bitcoin and Ethereum, there are other exciting and major developments …
Solana (SOL) is currently one of the high-flyers in the crypto market. The crypto token recently recorded one of the most gains following the market-wide rebound. Crypto analyst Rekt Capital, however, suggested that the crypto token is just getting started, revealing key levels to watch as Solana eyes higher prices. Key Levels To Watch For Solana’s Price In an X (formerly Twitter) post, Rekt Capital highlighted $180 and $202 as key price levels to watch for Solana’s price. The analyst claimed that a successful retest of the $180 price level as new support could continue an upward trend over time for Solana. SOL could rise above $200 in the short term as it moves further to the upside. However, the crypto token would need to break the resistance at $202 as it looks to break its all-time high (ATH) of $260. Related Reading: Will Bitcoin Reach A New All-Time High? Crypto Analyst Reveals Why $90,000 Is Possible Following the recent market-wide rebound, Solana had risen above $180, a three-month high for the crypto token. Although the crypto token has dropped below this price level again, another rise above $180 will help SOL establish that price range as new support and prime it for further moves to the upside. As highlighted by Rekt Capital, the $135 and $122 price levels have already been established as solid support for the crypto token. Rekt Capital’s analysis follows crypto analyst Ali Martinez’s recent prediction that Solana could skyrocket and rise to as high as $1,000. Martinez stated that early signs of a breakout from a bull pennant suggest a potential 900% rally ahead for Solana. Crypto analyst Javon Marks also offered a bullish prediction for Solana, stating that the crypto token will rise to $233 and then $450. He made this prediction based on SOL’s bullish structure, which he noted also recently confirmed a hidden bullish divergence. Marks explained that this divergence could send Solana’s price back above $204 and lead to a price rally of over 40% to $233.8 as prices “hold broken out of a much larger resisting structure.” The analyst also suggested that this bullish divergence will cause Solana’s price to rise to $450. Enough Reasons To Be Bullish On Solana There are enough reasons to be bullish on Solana, especially considering how the crypto token has earned the status of being among the ‘big 3’ alongside Bitcoin and Ethereum in this bull run. Solana’s dominance in this market cycle is one reason market participants anticipate that a Spot Solana ETF will likely be approved next. Solana’s price appears to be reacting to such expectations, with fund issuers VanEck and 21Shares filing to offer Spot Solana ETFs. If they eventually launch, these funds could contribute to more parabolic price gains for SOL, considering the Spot Bitcoin ETFs’ impact on BTC’s price. Related Reading: Dogecoin Falling Wedge Pattern: Crypto Analyst Predicts Breakout To $0.22 The steady rise in Solana’s total value locked (TVL) also paints a bullish picture for the crypto token. Data from DeFiLlama shows that Solana’s TVL has been rising significantly since the start of the year and has continued to hit new highs. The network’s TVL currently stands at $5.21 billion, the third highest among all chains. At the time of writing, Solana is trading at around $173, down over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The latest research from Europol called the Europol Internet Organized Crime Threat Assessment makes it clear how thieves’ use of Bitcoin is changing. The report talks about the use of stablecoins like Tether (USDT) and Bitcoin for illegal activities, and how Monero is becoming more popular for private transfers, among other key findings. Related Reading: […]
In a move highlighting the growing intersection of traditional finance (TradFi) and blockchain technology, Hamilton Lane, one of the world’s largest asset managers, has announced the launch of a private credit fund on the Solana (SOL) blockchain. The fund, named Senior Credit Opportunities Fund (SCOPE), will now be accessible to investors through the Solana network, according to a recent report by Fortune. Institutional Fund Directly On The Solana Blockchain Hamilton Lane, which has over $290 billion in assets under management, has partnered with Libre, a Web3 protocol developed by Brevan Howard’s WebN Group and Nomura’s crypto firm Laser Digital to facilitate this initiative. Related Reading: Ethereum ETFs Witness Stellar Start As Trading Soars; Analyst Sees ETH’s Price Reaching $8,000 In Q4 According to Fortune, Libre will serve as the “backbone infrastructure,” enabling the issuance and distribution of tokenized real-world assets (RWAs) on-chain. With this, Hamilton Lane aims to expand its distribution channels and reach a broader range of investors, including the “mass affluent” and crypto-native traders. Dr. Avtar Sehra, CEO and founder of Libre, emphasized that Solana’s “low latency and high throughput capabilities” make it an ideal network for tokenization. Interestingly, this move marks a significant milestone for the Solana ecosystem, as it is the first institutional fund to be launched directly on the blockchain, with the potential for more to follow as RWAs have been an increasing investment vehicle for institutional investors to capitalize on crypto technology over the past year. Financial Inclusion Through Tokenization? Hamilton Lane’s foray into blockchain technology is not entirely new, as the firm previously tokenized SCOPE and an equity fund using the digital securities issuance platform Securitize. Victor Jung, Head of Digital Assets at Hamilton Lane, expressed satisfaction with the inflows generated by these efforts. However, he heralded the launch of Solana as a critical step forward for the company, enabling the tokenization of collateralized lending. Jung said: This is for the decentralized finance natives. We believe that this is just a start of a portion of the financial asset class that will be available to a new audience with a different risk return profile. Related Reading: Dogecoin Falling Wedge Pattern: Crypto Analyst Predicts Breakout To $0.22 Similarly, proponents of these initiatives argue that the tokenization of financial assets will modernize and democratize conventional financial markets. BlackRock CEO Larry Fink, for instance, has expressed his belief that the next step in the industry will involve tokenizing every stock and bond, envisioning a future where all financial assets reside on a unified ledger. While tokenized private credit has gained traction, Fortune reports that some challenges remain. Startups like Maple and Centrifuge have faced difficulties selling to crypto investors due to factors such as long lock-up periods and the varying risk appetite of this particular audience. Additionally, some crypto investors prefer higher returns offered by meme coins, which can overshadow the more modest returns from traditional assets over a longer time horizon. At the time of writing, SOL was trading at $173, down nearly 5% in the 24-hour time frame, led by Tuesday’s broader market decline. Featured image from DALL-E, chart from TradingView.com
The post Bitcoin Price Prediction: ETF Inflows Plug the Gap and Keep Price on Track for $70k appeared first on Coinpedia Fintech News
While the long-term outlook for Bitcoin and Ethereum remains bullish, driven by institutional interest and significant ETF inflows, the short-term presents volatility. The movement of Bitcoin by Mt. Gox and the launch of Ethereum ETFs could introduce temporary selling pressure. Analyst Josh of Crypto World has sounded the alarm and said that a bearish signal …
The crypto industry seems excited and expectant following the US Securities and Exchange Commission (SEC)’s final approval of spot Ethereum Exchange-Traded Funds (ETFs). As investors await the official launch of the investment product, many have discussed the implications of today’s debut. Related Reading: Profit from the Dip: Hong Kong To Debut Asia’s First Inverse Bitcoin […]
Crypto analyst Javon Marks has reaffirmed his ultra-bullish prediction for XRP in his latest analysis. The analyst explained why the crypto token will still rise to as high as $150 in this bull run. Why XRP Is Still On Course To Reach $150 Marks mentioned in an X (formerly Twitter) post that XRP looks right on the brink of a “massive bullish breakout,” having recently tested one. He claimed that XRP could successfully achieve this bullish breakout with such continued market strength. He added that this successful breakout and a Full Logarithmic Follow-Through would allow the crypto token to enjoy a price rally of over 41,400% and reach and even climb above $150. Related Reading: Don’t Get Shaken Out, Analyst Says Bitcoin And Altcoins Rally Is Just Starting Marks has continued to predict that XRP can reach such heights for a while based on his Full Logarithmic Follow-Through analysis. Before now, he mentioned that XRP could rise to as high as $200 and noted that such a parabolic rally was indeed possible for the crypto token since it has done it before during the 2017 bull run. Marks has also received support from other analysts like CryptoBull, who have predicted that XRP will rise to triple digits. CryptoBull once predicted that the crypto token could rise to $154 based on an ascending broadening wedge, which he expects XRP to break out from soon enough. Crypto analyst JackTheRippler also predicted that XRP will rise to triple digits when the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple ends. In a more recent analysis, JackTheRippler asserted that a new all-time high (ATH) was on the horizon. He stated that XRP’s multi-year bullish pattern is ending and suggested that it won’t be long before the crypto token enjoys that rally that will see it surpass its current ATH. The crypto analyst is also bullish on XRP because he believes the case between the SEC and Ripple is about to end. About To Break Out Of Six-Year Consolidation Triangle Crypto analyst Mikybull Crypto also recently offered a bullish narrative for XRP, stating that the crypto token is about to break out of the six-year consolidation triangle. The analyst claimed the breakout will be “massive,” followed by a “long sustained enormous rally.” He hinted at his plans to invest in XRP, remarking that he won’t be sidelined for the upcoming move. Mikybull Crypto previously mentioned that XRP might replicate its 2017 rally, considering its current price action path. He stated that the crypto token could rise above $4 if it follows a similar path to 2017. Related Reading: Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down? Meanwhile, crypto analyst Alex Clay also echoed a sentiment similar to Mikybull Crypto, stating that XRP is breaking out of a symmetrical triangle that it has been consolidating inside for about 2,275 days. The analyst expects XRP to rise to between $1.2 and $1.5 in the mid-term, while he predicts that the crypto token could rise to $3 in the long term. Featured image created with Dall.E, chart from Tradingview.com
The release of India’s Union Budget for 2024-25 has left a significant portion of the country’s population pondering its implications, particularly the cryptocurrency community, which finds itself at a standstill. On July 23, the budget brought up by Finance Minister Nirmala Sitharaman left the digital currency industry unaddressed even after prior speculations and anticipation of […]
One of the most well-known bitcoin exchanges worldwide, Gate.io, has decided to terminate all services available in Japan. Effective July 22, this retreat signals a dramatic change in the operational scene of the exchange. Related Reading: Bangkok Bound: ApeCoin DAO Eyes Ape-Themed Hotel In City Center In an announcement Monday, the exchange revealed a compliance […]