THE LATEST CRYPTO NEWS

The partnership between The Open Network (TON) and Tether has reached new heights as the USDT stablecoin experienced a massive surge in just a few months since the start of their collaboration. A remarkable feat that saw a massive increase in the USDT on TON hitting over $1 billion in only six months, an indicator of the capability of the emerging dynamic duo. Related Reading: Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival Exponential Growth Analysts said that TON keeps on moving upward as many investors start to adopt Tether’s stablecoin. In a report, CryptoQuant said that in the last six months, USDT on TON rose by a whopping 670%. CryptoQuant added that TON only had $130 million worth of USDT in May 2024, but after half a year, the stablecoin ballooned to $1.02 billion. Analysts attributed the massive hike to the increasing investors’ preference to use TON, making the network a significant player in the stablecoin sector. They also believed that the stablecoin market will continue to thrive and flourish rapidly which will open opportunities for emerging blockchain networks. Currently, stablecoins have gained popularity worldwide. These digital monies are used to facilitate various activities such as cross-border transactions and personal payments. Data showed that for instance, USDT is being utilized by 10% of all commercial transactions conducted in South Korea. Low Transaction Fee CryptoQuant said that the TON blockchain is an excellent substitute for stablecoins because of its low transaction costs, saying that its “competitive transaction fees” fuel the increasing number of USDT transactions on TON. Analysts considered its remarkably low fees as one of its most significant advantages because it makes TON more attractive to users who conduct regular transactions. TON allows these users to save money while partaking in the cryptocurrency market. Statistics showed that transaction fees have decreased significantly in the past few months. The median transaction fee in June 2024 stood at $0.061, but it went down to $0.035 by October 2024. A significant reduction greatly contributed to the TON’s rapid adoption because users are seeing the network as an option for their transactions. Related Reading: Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14 USDT Expected To Expand USDT stablecoin has emerged as a key player in the market today, reaching a USDT supply of about $120 billion. CryptoQuant predicted that the USDT supply would expand and could reach $200 billion in the bull rally. “This growth will likely drive further demand for fast and low-cost blockchain networks like TON, leading to continued growth in the amount of USDT on the TON network,” the analyst added. CryptoQuant also sees that TON will have the opportunity to expand in the stablecoin ecosystem by providing “robust infrastructure and competitive advantages.” Featured image from Medium, chart from TradingView

Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process. Related Reading: Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14 As such, miners often turn to credit facilities to fund their operations. Today, mining costs continue to grow, with some experts saying that costs have skyrocketed to $49,500 as of the second quarter. CoinShares reports that the second quarter data is $2,300 more than the first quarter when mining costs average $47,200. The investment company further explained that the miners’ cash expenses average $85,900, and prediction costs amount to $96,100. Failing to secure a credit line is now a common complaint among BTC miners, while others say rising interest rates worsen their situation. BTC Miners Fail To Capitalize On Recent Price Rallies Bitcoin mining is inextricably linked to the digital asset’s extreme volatility. For example, many of our miners failed to capitalize on the rumors of Bitcoin ETFs circulating in late 2023. In January 2024, the Securities Exchange Commission (SEC) finally approved the applications of at least 11 ETFs, pushing Bitcoin to breach the $70k level. The sudden increase in the asset’s valuation only showed that the mining industry is sensitive to these price movements, especially after the halving of rewards took effect. Today, many mining analysts are looking at models that can anticipate the asset’s continuing increase in hash rate. Current models used by most miners expect the rate to hit 765 EH/s. Time For BTC Mining To Embrace Alternative Energy Sources? One of the complaints against BTC mining is that it hurts the environment due to the massive energy requirements, not to mention the carbon footprint it emits. Experts say that if miners use alternative energy sources, we can reduce our carbon footprint by 63% by 2050. Miners should be ready to embrace these alternative energy sources since expenses grow as the hash rate increases. Related Reading: Solana DeFi Momentum Soars With $5.7 Billion Locked In Q3 As Costs Rise, Some Bitcoin Miners Turn To AI Since mining efficiency is starting to fall, many miners are looking for ways to augment their revenues. For example, many experienced miners are holding tokens instead of mining them. Others turn to AI-related solutions as a potential source of revenue. It’s safe to say that the BTC mining industry is entering a new phase. When planning and moving forward, miners and other stakeholders must consider the challenges, from costs to compliance to competition. As costs continue to increase, miners must find solutions and options to remain profitable. Featured image from Dall-E, chart from TradingView

Just hours away from the US presidential elections, PolitiFi tokens have seen a remarkable boost. The sector has experienced a nearly 10% surge in the last 24 hours, with Trump-themed memecoins leading the way. Following the recent performance, some investors forecast a massive rally for these tokens in the coming days. Related Reading: Is The Bitcoin Bull Market Over? Analyst Reveals Bear Case That Could Send Price To $28,000 Trump-Themed Memecoins See 30% Jump The PolitiFi sector gained popularity after several memecoins inspired by US politicians registered a massive performance earlier this year. Some tokens had their market capitalization break above the $100 million mark, with a couple still holding the feat. Memecoins inspired by the former US President and Republican candidate Donald J. Trump have led the sector throughout his presidential campaign. The tokens recorded massive rallies this year, hitting their peak during Q2. Cryptocurrencies like MAGA (TRUMP) and Doland Tremp (TREMP) hit the $17 and $1.5 marks, respectively, as their all-time high (ATH), fueled by Trump’s crypto-friendly statements. However, most of these cryptocurrencies have retraced significantly since June, pulling back over 70% in most cases. Now that the elections are just hours away, the PolitiFi sector is soaring again, surging around 10% in the last 24 hours, while the crypto market sees a 1.5% retrace. Memecoins themed after Trump held their lead, registering green performance during the past day. TRUMP has seen a 26% surge in the last 24 hours, trading above the $3.8 range. Meanwhile, MAGA Hat (MAGA) records a 32.6% price jump in the same timeframe, nearing a $90 million market cap earlier today. MAGA’s daily trading activity has also increased nearly 30%, registering a $41.7 million trading volume on the last day. PolitiFi Tokens In The Hands Of The Election The sector’s rally is seemingly fueled by the anticipation surrounding the elections. Notably, volatility is forecasted to peak in the following days as speculation about the election’s outcome increases. Some investors believe the PolitiFi token’s rally will continue in the following days, with Trump-themed memecoins expected to skyrocket in case of Trump’s victory. Just 10 hours before the election, the Republican candidate’s winning odds are considerably higher than the Democratic nominee, Kamala Harris. Polymarket’s live forecast shows that Trump leads the prediction market with a 15% gap. Following the presidential debate, the former president lost ground to the US Vice President in early September. At the time, the Democratic nominee surpassed Trump’s winning odds by 4%. However, these have seen a significant retrace in the last month. Related Reading: ADA Slips Below $0.3389 Level, Deeper Downtrend Looming? The Republican candidate regained his lead in October, recording a considerable 33% gap between his winning odds and Harris’. By the end of the month, Trump led the predictions market with a 66% chance of winning, which has now retraced to 57%. Amid Trump’s winning odds, the memecoins inspired by the US VP have recorded a considerable decrease in the past day. Kamala Horris (KAMA), the largest Harris-inspired token, retraced nearly 25% in the last 24 hours, seeing a 34% decrease in daily trading activity. Featured Image from Unsplash.com, Chart from TradingView.com

The price of TRON (TRX) has been on an impressive run of late and established a double-top technical formation. Technical analysts typically utilize this pattern to forecast a trend reversal when an asset reaches its peak. Tron is currently trading close to its all-time high level, which has attracted traders’ attention to the double-top. Related Reading: GRASS Token Fails To Break $2 Level – Is It Time To Buy? TRX is selling at $0.1654, and currently with a price projection of 67% in the next three months, CoinCheckup data reflect. However, the estimate permits some safety line, traders are starting to get more worried due to the changes in the market. Increase In Sales Volume Raises Concerns In a recent post, analyst Alan Santana saw a significant increase in selling volume, which raised concerns about market pressure. High selling volume typically indicates that upward momentum is beginning to wane, particularly when paired with pessimistic sentiment. #Altcoins | #TRX ✴️ Tron: New High & Double-Top (Full Trade-Numbers SHORT Incl.) TRXUSDT (Tron) just produced a new high and double-top. This is one of the pairs that offers the best risk reward ratio because it trades so close near the All-Time High, near resistance. Current… pic.twitter.com/aztSSGElGf — Alan Santana (@lamatrades1111) November 3, 2024 This pattern may be concerning for TRX traders as it suggests that a decline may be imminent. Experts believe such a reduction could occur even in the coming weeks or months, despite the pattern being harder to predict. In addition to these worries, there isn’t enough good buying volume. Peak purchasing activity typically comes before price growth in a healthy market. Regretfully, TRX hasn’t been like this recently. It is evident from the present trading activity that buyers are not entering the market with sufficient zeal, which could be short-term bad news for TRON investors. TRON Holding Period Down TRX investors have been holding TRON coins for a shorter period of time as the holding period fell by a whopping 70% as of lately. The downtime can be seen as a thanks to the lack of faith investors have in the coin’s value in the future. The number of people who have a habit of keeping their TRON coins for a longer duration has also fallen. This has happened due to the fact that more investors have started selling their coins. The CMF indicator, which is the measure of the pulled push activity, also makes this view stronger. Will TRX Make It Big In 6 Months? TRX is currently down 2.02% over the past day. This could be due to traders being cautious. In light of this double top and the rise in selling volume, traders should exercise caution in order to anticipate and seize the trend reversal and subsequent decline. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant—Is Hype Fading? Even though these are short-term concerns, TRON still has the chance to overcome them with great optimism in the long run. Experts believe that TRON will grow by 141% in six months, showing strength, and it may go up to a surprising number at one year with 180% growth. Traders should continue to watch for external shocks from market volatility and economic factors that could affect their investment as TRX approaches these respective milestones. Featured image from Coins.ph, chart from TradingView

A few analysts say Ripple’s XRP is preparing for an explosive price action. Steph, an analyst under the “StephIsCrypto” username, offers a bold, positive outlook for XRP, saying that a significant price rally is in the pipeline thanks to increased global liquidity. Related Reading: Solana DeFi Momentum Soars With $5.7 Billion Locked In Q3 In a published analysis, Steph highlighted the token’s historical relationship with increased liquidity and structural patterns like the descending channel and the Bollinger Bands. According to Steph, these are the primary factors that set up XRP for a price ascent soon. At the time of writing, XRP was trading at $0.5052, up 0.5% in the last 24 hours, but sustained a nearly 2% rally in the last week, data from Coingecko shows. XRP And Its Relationship With Global Liquidity Higher global liquidity often favors Ripple’s XRP, fueling price rallies. In Steph’s analysis, a token’s liquidity, or the available cash flow across the market, traditionally helps XRP sustain price action in past cycles. BUY #XRP BEFORE IT HITS $14.00 !!! pic.twitter.com/e8wY3UVq11 — STEPH IS CRYPTO (@Steph_iscrypto) November 3, 2024 Steph is now looking at the same trajectory, where global liquidity is increasing thanks to favorable policies from central banks. He cites the possible move of the Federal Reserve, which can introduce additional money into circulation, thus weakening the fiat currencies but creating more capital. Steph sees the token as a great investment when the liquidity surge happens. As Weighted Global Liquidity Index Moves Up, Riskier Assets Increase Steph’s thesis on XRP is also based on the Weighted Global Liquidity Index (WGLI) movement. The WGLI tracks the world’s money supply by looking at central banks’ balance sheets and other important financial statements. The analyst argues that the index reflects possible price movements of risky assets, like XRP. If the index trends upward, crypto assets tend to increase as well. According to the analyst, every XRP price surge happened immediately after an increase in the index. Currently, there’s a divergence between XRP’s price and the index. Although there’s an increase in global liquidity, XRP’s price appears stable. But for Steph, this setup acts as his bullish signal. Bollinger Bands Squeeze And Descending Channel Favor SRP According to Steph, even the Bollinger Bands and Descending Channel set up the altcoin for a favorable run. Since 2021, XRP has been trading in a descending channel, with multiple resistance price points and declining volumes. Related Reading: GRASS Token Fails To Break $2 Level – Is It Time To Buy? He pointed out that the asset’s Bollinger Bands are compressed. If the bands tighten in crypto, it suggests a probable price action. For example, XRP’s Bollinger Bands compressed in 2017, which was followed by the asset’s price rally. If the analysis and data trends hold true, the analyst expects XRP to trade at $14, translating to an increase of 2,670%. Featured image from Techopedia, chart from TradingView

GRASS token, one of the latest DePIN projects, attracts significant attention from analysts and the investing public. As a Layer-2 platform on the Solana blockchain, the Grass platform allows users to share unused internet bandwidth to train AI models using a browser extension. With its promising technology, it’s no surprise that its token launch and airdrop last October 28th was highly anticipated. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant—Is Hype Fading? While the airdrop was marred by a few issues, including a three-hour outage, the token’s price rally succeeded. Last October 29th, the token peaked at October 29th, then made a massive rally from October 31st until November 2nd, breaching the $1.50 level. After hitting a high of $1.9175 on November 2nd, it has slowed down, settled below the $1.75 level, and now trades at the $1.45 level. GRASS has rejected the $2 price, with analysts seeing a deeper pullback—so, is this the right time to buy? A Rough Start For GRASS Trading for GRASS started on October 28th, but a few issues delayed the token’s airdrop and launch. The team recorded technical issues, including users being prevented from accessing their tokens on their Phantom wallets. Also, the rush to claim the tokens was marred by the three-hour power interruption. Furthermore, some users reported flagged transactions, and many were disqualified from the airdrop. WTF is this @getgrass_io @grassfdn I’m using it since Epoch 1 and after 10 months of using, it is saying that your wallet is not eligible?? Really?#grassairdrop #grassfoundation #grassSCAM pic.twitter.com/wt7BWPBI1R — Phantom Soul (@PhantomSoulll) October 28, 2024 A total of 1 billion GRASS tokens were circulated, and 10% were given to early supporters and contributors. It’s still too early to see the full extent of these issues’ effect on GRASS, but the token started well price-wise. Token Tries To Breach $2 It’s challenging to make sense of GRASS’s price action since it only launched a few days ago. However, analysts see a bullish trend on the chart’s lower timeframes. The token boasts above-average volume in the last 24 hours. Also, the token’s on-balance volume and price increased starting October 30th. In short, there was buying pressure for the token, suggesting that price gains may happen soon. However, GRASS rejected $2, making it the token’s short-term psychological resistance. Analysts said the price could dip to $1.75 since the RSI reflects a bearish divergence. Related Reading: Will Bitcoin Hit $176K? Anthony Scaramucci Lays Out His High-Stakes Forecast Other Analysts See A Deeper Dive For GRASS Based on the technical charts, the analysts found two notable liquidity pools at prices of $1.56 and $1.96. The current price is currently closer to the liquidity pool at $1.56, with the token appearing to reject the $1.96 level. Since there’s a bearish momentum and a liquidity pool at $1.56, traders and holders can expect a price dip below $1,75. Swing traders and new buyers who want to enter a position can wait for the token’s retesting of $1.56 or even $1.4. Featured image from Pexels, chart from TradingView

Solana continues to prove that it’s one of the top blockchains for this cycle. After its rally, which gained 35% over the past 60 days, the popular Layer 1 blockchain is back in the news with more on-chain activities. According to recent data, Solana’s DeFi Total Value Locked or TVL increased to $5.7 billion in the third quarter, reflecting a 26% improvement from the previous quarter. Related Reading: Will Bitcoin Hit $176K? Anthony Scaramucci Lays Out His High-Stakes Forecast Kamino, a crypto lending service, leads the count with $1.5 billion in TVL and an impressive 7% Quarter-on-Quarter growth, helped by jupSOL and PYUSD additions. Recent data also suggests that Solana’s market cap is now $3.8 billion, an improvement of 23%, boosted by the integration of PayPal’s PYUSD. DeFI Continues To Drive Growth For Solana Solana DeFi tops the chain’s activities with a total locked value, worth $5.7 billion. This latest SOL data reflects a solid 26% growth QoQ, pushing the blockchain to become third largest in this metric, surpassing Tron. In a Messari report, Solana’s TVL increased due to increased activities for Kamino, which accounted for $1.5 billion of the total contracts locked. Kamino’s recent quarterly figure represents a 57% rise, thanks to the recent integration of jupSOL and PYUSD. Aside from Kamino Finance, Solana’s blockchain featured locked assets for Raydium, with $1.1 billion, and Jupiter, with $749 million. Kamino Finance’s impressive performance is linked to its Kamino Lend V2 launch, offering a permissionless vault and market layer. Analysts expect Kamino Finance to continue its dominance by adding new projects like the Spot Leverage and Lending Orderbook. Solana DEX Shows Signs Of Slowing Down Solana’s DEX activity was down 10% QoQ but rebounded a bit by October. The average daily volume on the blockchain’s exchange hit $1.7 billion, largely because of a fall in meme coins. Raydium retains its dominance on Solana’s DEX, with a 51% market share, although its daily average volume dipped by 13% to $852 million. The volume increased by $350 million with the release of Moonshot, a crypto mobile trading app. Jupiter also stayed at the top, cornering 43% of the total spot exchange volume. Recent developments, including the release of Jupiter Mobile and the integration of Google Pay and Apple Pay, helped the platform. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant—Is Hype Fading? SOL’s Stablecoins Get Help From PYUSD In the same Messari report, PayPal’s PYUSD lifts SOL’s stablecoin market. The PYUSD was launched in May in Solana, which is mainly instrumental in its market cap growth, which now stands at $3.8 billion. With exciting features like programmable transfers and transfer hooks, PayPal’s PYUSD became instantly popular. Aside from PYUSD, USDC also contributes to Solana’s stablecoins market. Circle’s integration of Web 3.0 services for SOL provides enterprise functionality features like fee sponsorship and programmable wallets, allowing developers to integrate multi-chain solutions quickly. Featured image from StormGain, chart from TradingView

World Liberty Financial, a decentralized finance (DeFi) initiative endorsed by former President Donald Trump, has disclosed that its ambitious $300 million crypto token offering is largely aimed at international investors.  To date, fewer than 350 US investors have engaged with the project, raising questions about its domestic appeal amidst a landscape of regulatory scrutiny led by the US Securities and Exchange Commission (SEC). World Liberty Financial’s Offshore Focus Operating out of Wilmington, Delaware, yet managed from Puerto Rico, World Liberty recently filed a notice with American regulatory bodies, announcing its intent to sell only $30 million worth of tokens within the United States.  Once this threshold is reached, the crypto venture company plans to halt the US offering, despite having approximately $288.5 million worth of WLF tokens still available for sale. Related Reading: How To Trade Bitcoin During The US Election, Expert Reveals Zachary Folkman, co-founder of World Liberty, indicated in a September interview streamed on X (formerly Twitter), that the company plans to leverage Regulation S—a provision that allows the sale of tokens to non-US investors without requirements typically imposed by US securities laws.  The limited interest from US investors may stem from the SEC’s rigorous approach to regulating cryptocurrencies, which has prompted many token issuers to focus their efforts offshore.  Trump’s involvement, along with that of his sons, Donald Jr. and Eric, is highlighted in the company’s filings. However, the document clarifies that their names are included for “informational purposes” and do not imply an official endorsement of the offering. Capital Raising In A Complex Crypto Landscape During the September interview, Folkman discussed the potential for non-US sales through Regulation S, but he refrained from detailing the distribution of tokens between domestic and international buyers.  US investors have been approached through a different regulatory pathway—Regulation D—which allows companies to raise unlimited capital from accredited investors, defined as individuals with a net worth exceeding $1 million, excluding their primary residence. Both Regulation D and Regulation S are designed to streamline capital-raising processes for companies. However, Regulation D imposes stricter investor protections and disclosure requirements.  For instance, companies utilizing Regulation D must publicly disclose details about the offering, including the total amount raised and the number of participating investors. Folkman noted the necessity of verifying that US buyers meet accredited investor criteria, a process that adds another layer of complexity to the offering. As of October 15, World Liberty reported raising $2.7 million under Regulation D by selling tokens to 348 investors. In contrast, analytics from Kaiko show that around 17,000 unique addresses have held the asset at least once, suggesting broader interest that may not be reflected in US sales alone. Related Reading: Worldcoin Rejection At $2.1 Sparks Concerns Of Prolonged Downtrend The divergence between US and offshore sales could be partially attributed to the anonymity afforded by Regulation S, which does not require private companies to disclose capital-raising details or verify the financial status of buyers.  Nevertheless, the regulation mandates that offerings be limited strictly to non-US persons, ensuring compliance with international investment rules. Folkman emphasized the company’s commitment to adhering to regulatory standards during his interview, stating, “We would expect that any potential non-US token sale would be limited to non-US persons and comply with applicable restrictions under what is known as Regulation S.” Featured image from DALL-E, chart from TradingView.com

Like most digital assets, Ethereum witnessed a correction this week by losing over 5% in the last 24 hours while trading just above $2,500. While the increased on-chain activity could eventually make the bulls bet for the bounce back of Ether, a few experts differ with this perspective. Crypto veteran analyst Peter Brandt predicts further downfall in Ether to the extent of loss of over 60% from its present price, with no indication of changing. Currently, Ether is trading at a 42-month low. While Bitcoin re-tested the $70k mark early this week, Ether maintains a sluggish price action and is too far off from the experts’ target of $4k. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant—Is Hype Fading? Ether’s Strong Bearish Movement Ethereum trades at its 42-month low against the world’s top digital asset, which suggests a bearish momentum. Zooming out of the price chart, Ethereum is on a downward spiral and a painful market correction for holders and investors. According to Brandt, Ethereum’s bearish sentiment will continue with no reassuring signs of reversal. Interesting to note that there was not a buy signal in $ETH In fact, chart remains bearish with unmet target at 1551 pic.twitter.com/sjkXyTQXU2 — Peter Brandt (@PeterLBrandt) October 31, 2024 In a Twitter/X post, Brandt shared a graph saying there’s no but signal for Ether. He added that Ethereum’s chart is bearish, with the bulls making it difficult to hit the $1,551 target. The 1-day-chart highlights the asset’s continued bearish moment momentum that started last August, characterized by a descending channel. Ethereum’s bearish flag is terrible news for traders and holders, suggesting a continued downtrend. Analyst Sees Bearish Metrics For Ethereum Aside from the bearish signals on the graph, Brandt also noted a few discouraging metrics for Ethereum. For example, Ether has dropped by over 5% over the last 24 hours, registering a sharper decline than Solana, at -4.91%, and Bitcoin, at -3.87%. Also, Brandt noted that the ETH/BTC trading ratio dipped to 0.03613, a 42-month low, as BTC continues to lead the broader crypto market. Although Ethereum is currently priced at $2,507, Brandt sees the asset dipping even further to $1,551, reflecting a possible 62% decline from its current value. $1,551 As Ethereum’s Unmet Target Brandt sees $1,551 as the asset’s unmet target and a key milestone. In his analysis, this level serves as the holders’ point of capitulation. The recent dips in price have affected investors’ and holders’ confidence, with Ethereum struggling to sustain the $2,400 support. Related Reading: Ethereum Claims Address Dominance With 43% Lead—Will It Keep Rising? As the second biggest crypto, Ethereum has displayed initial signs of a rally. Many observers have predicted a market rally, targeting a long-term price of $6,000. Short-term estimates put Ethereum’s price at $2,750. However, Brandt offers a more bearish outlook for Ethereum, saying that the asset will go downhill unless a new set of technical indicators emerges. Featured image from Tokpie, chart from TradingView

November began with an unexpected downturn in the crypto market as Bitcoin, which had gone on a bull run in the last week of October, rapidly lost its momentum. The highly anticipated “Moonvember” kicked off with an unexpected crash, plummeting from $73,000 on October 31 to $69,000 on November 1 to essentially wipe out $296 million in liquidations, with the majority of them being long positions. Despite the bulls managing to steady a Bitcoin price support at $69,000, the rapid downturn stirred questions among many crypto traders. Related Reading: Ethereum Claims Address Dominance With 43% Lead—Will It Keep Rising? According to crypto expert Ash Crypto on social media platform X, this quick crash in the Bitcoin price can be attributed to four major factors.  Key Reasons Behind Bitcoin’s Price Drop According to Ash Crypto, the recent Bitcoin price isn’t a straightforward result of crypto-specific events but rather a reflection of the broader economic landscape. As he noted, there are currently multiple reports suggesting that Iran may be planning a military action against Israel from Iraqi territory. The potential escalation of conflict in the region seemed to have created uncertainty among Bitcoin investors, and many might have opted to exit from the markets. “As we all know, war is bad for Bitcoin and crypto,” the analyst said. Aside from the brewing conflict, Ash Crypto also highlighted the recent earnings reports from tech giants as another factor in the Bitcoin price crash. Major tech companies like Microsoft and Meta recently posted earnings reports that, despite beating expectations, showed rising AI-related costs. This led to a downturn in many other tech stocks, which spilled over to other financial markets, including the crypto industry. Another factor Ash Crypto highlighted is the recent climb in US Treasury’s bond yields, specifically the 10-year note, which is now trading above 4.3%. Higher yields make government bonds a more attractive alternative, making investors less likely to invest in more volatile assets like cryptocurrencies.   Lastly, the latest Core Personal Consumption Expenditures (PCE) reading increased slightly above 2.7%. Ash Crypto noted that this rise in core inflation could push the Federal Reserve toward a more hawkish stance. This could lead to the Fed adopting higher interest rates or delaying rate cuts. Both scenarios could dampen demand for Bitcoin, which thrives in low interest rates, as shown by the September 18 interest rate cut. Looking Ahead: What’s Next For Bitcoin? Like many other crypto analysts, Ash Crypto remains confident that Bitcoin’s latest dip is only temporary. He drew parallels to October’s initial market dip, while anticipating that November, or “Moonvember,” will follow a similar trajectory. Interestingly, the analyst believes Bitcoin still has the momentum and market interest needed to push past $80,000 before the end of November. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant—Is Hype Fading? At the time of writing, Bitcoin is trading at $69,678 and is up by 4% in the past 24 hours. Featured image from Pexels, chart from TradingView

After recovering from the market retrace, SUI is trying to reclaim the $2 mark and break out from a bullish pattern. Some market watchers suggested the cryptocurrency will pull some “big moves” toward a new all-time high (ATH). Related Reading: Bitcoin Faces Fifth Consecutive Rejection At $72,000, Is Another Correction Coming? SUI Recovers From Halloween’s Correction As October ended, the crypto market saw a spooky correction led by Bitcoin’s drop below the $70,000 mark. Most cryptocurrencies experienced a significant retrace, with Ethereum and Solana bleeding around 5%. SUI, the native token of the Sui Network, joined the rest of the market and declined by 4%, losing its recently recovered $2 support. The cryptocurrency has been one of the best-performing tokens in the past few months, outperforming most of the market during Q3. Moreover, it recorded a 25% rise toward its latest $2.35 ATH two weeks ago. Following its rally to its ATH, SUI’s price faced an 18.5% correction, making investors and analysts forecast a longer consolidation time for the token. Earlier this week, the token followed BTC’s surge and eyed the $2.15 zone, which previously propelled the price toward its latest ATH. Nonetheless, the token reached the lower levels of the $1.90 support zone on Friday morning amid the market retrace. Today, SUI surged 9.3% from its $1.92 daily low to hit the $2.10 mark before retracing to $2.07. Some analysts consider the cryptocurrency is gearing up to “put in a big move” following the correction. Is A Retest Of The $2.35 ATH Looming? Analyst AMCrypto pointed out that SUI’s recent performance could target a breakout from a bull flag formation. Per the chart, the cryptocurrency displays this bullish pattern in the three-day chart, with the breakout target sitting at $2.05. The analyst stated that if SUI successfully breaks above the upper trendline, “it’ll pump towards its previous ATH.” Meanwhile, crypto analyst Altcoin Sherpa proposed two short-term outcomes for the token. Sherpa considers the cryptocurrency will test the ATH zone and pull back to the current levels at least once more in the coming weeks. He indicated the price could drop to $1.65 if it fails to hold the $2 support. However, it could also bounce from this level after the retrace and rally toward a new ATH of around $2.7 by year-end. Sherpa previously suggested that tokens with a strong September performance still have “a bit more pullback to go” with “plenty of bounces” before resuming their run. Related Reading: Analyst Says It’s ‘Time To Be Bullish On Ethereum’ As ETH Retests $2,700 Most of the market will experience volatility in the coming days as speculation and anticipation build up for the outcome of the US presidential elections, scheduled for next week. Analyst Michaël van de Poppe noted that most altcoins, including SUI, were in a correction period and explained how its retest of the $1.90-$2 support is “crucial for further upward momentum.” As of this writing, SUI is trading at $2.05, a 3.5% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com

Reports showed that Bitcoin price slightly dipped in the last 24 hours but continues to hang on the $69,000 level after breaching over $73,000 several days ago. Despite the impressive BTC price hike, interest in the cryptocurrency is not picking up as Google searches remained flat. Related Reading: Cardano To Soar 22X? Analyst Sees Opportunity Despite On-Chain Decline Bitcoin Nears All-Time High Bitcoin still performed well last October 2024 despite experiencing a slight decrease in price, falling below $71,000 to $70,800 and failing to meet investors’ expectations of the coin hitting the $73,700 mark. Despite the dip, it has been a good month for BTC because its performance nearly reached an all-time high. Records showed that October has always been a pivotal month for Bitcoin to gain momentum for a price upsurge. According to Lookonchain, the cryptocurrency consistently obtained significant gains in October, a recurring trend since 2013. Last year, Bitcoin’s October rally brought a 28% gain for the coin which according to analysts paved the way to a five-month price upswing. During the bull run, BTC started at $26,965 and gradually gained momentum over the succeeding months, breaching the $73,000 barrier in March 2024. Will BTC repeat the same price movement as last year? A price rally could unfold as October 2024 ends. Interesting Phenomenon Bitcoin might be performing well and nearly hitting an all-time high, but an analysts noted a bizarre phenomenon. Analysts remarked that BTC is near its record high, but its online mentions are falling behind, saying, Google searches for Bitcoin remained notably low. It could mean that there is little retail participation despite the price upsurge. According to AltIndex, the cryptocurrency’s score at Google Trend is 37 out of 100, indicating that only a small number of people are searching for Bitcoin on the search engine Google. Related Reading: Analyst Eyes $6,000 For Ethereum As Key Support Level Emerges – Details BTC Bull Run And Google Searches Analysts said that there is a relationship between the previous Bitcoin bull run and Google Trends, adding that usually, bull runs coincide with an uptick in BTC search volume. Bitcoin’s bull run in 2017 serves as a prime example of this relationship. Analysts explained that during the said price rally, Bitcoin went up about $20,000 while its Google Trends score reached 80 out of 100. A trend that analysts have also seen during BTC’s bull run in the late 2020 to 2021. Historically, BTC price rallies occurred simultaneously with significant search interest on Google, something that is not happening yet at the moment. Would the search volume in Google remain a key indicator of BTC’s price movement? It is something that investors and analysts will have to keep an eye on the upcoming months. Featured image from DL News, chart from TradingView

An OG Bitcoin advocate made a bold forecast that demand for Bitcoin will increase rapidly in the near future, bolstering the estimates of some crypto experts that BTC is on a trajectory to hit the six-figure level. OG, short for “original gangster” or “original gangsta,” is a slang expression for someone who is exceptional, unique, or “old-school.” The BTC supporter also suggested that the coin is moving in the direction that will allow the crypto to outshine gold, the US dollar, and other major assets soon. Related Reading: Tether’s $1 Billion USDT Mint On Tron: What’s Fueling The Demand Surge? Rising Over Gold, Greenback ShapeShift CEO Erik Voorhees, an early investor of Bitcoin, sees that the cryptocurrency would surpass the major assets in the upcoming months, saying that the coin has “high potential” to eclipse fundamental assets such as gold, the US dollar, and even oil. When demand for gold rises, more gold is produced. When demand for oil rises, more oil is produced. When demand for USD rises, more USD are produced. When demand for Bitcoin rises… — Erik Voorhees (@ErikVoorhees) October 29, 2024 In a post, Voorhees pointed out that when the appetite for gold rises, gold production will surge while if the demand for oil rises, more oil will be extracted. He added that more US dollars are printed, once the demand for the greenbacks soar, saying that supply for these assets would not run out in the upcoming years. However, the founder of the Venice.AI project hinted that it is not the same case with Bitcoin when demand for it increases. It is an indication that additional BTC cannot be produced because Satoshi Nakamoto, the creator of Bitcoin, only designed the cryptocurrency not to exceed 21 million coins. Bitcoin-Gold Relationship Earlier, another Bitcoiner, Max Keiser, believed that there is a relationship between the price of gold and Bitcoin price, saying that BTC price could soar because of gold. Keiser explained that for every $1 increase in gold prices, BTC prices also experienced a hike of $20, adding that since gold prices hit a record amount, Bitcoin prices are more likely to follow suit. Expecting A Bitcoin Surge Voorhees is already telling the cryptocurrency community to keep an eye on Bitcoin because he predicts that all aspects of the coin will move upward including its price. The ShapeShift executive remarked that this attribute of Bitcoin would be the main factor why demand for the coin will soar quickly. In the past few days, several crypto experts have already projected the inevitable growth of Bitcoin, saying that its price will breach the six-figure level. Related Reading: Cardano To Soar 22X? Analyst Sees Opportunity Despite On-Chain Decline 19 Million BTC Mined Reports have shown that over 19 million BTC circulating in the crypto market today, is the highest it has ever been. Analysts said many of these coins have been stored in “cold wallets” for numerous years, saying that a portion of these BTCs are owned by Bitcoin EFTs. A Chinese cryptocurrency journalist estimated that over 5% of all Bitcoins in the market are in the possession of Bitcoin EFTs with an approximate net value of $72.545 billion. Featured image from Pexels, chart from TradingView

Robinhood, a popular American financial services company, is finally out of the woods. In its third-quarter filing ending September 30th, 2024, the company disclosed its revenues were up by 165%, and its overall year-to-date (YTD) net deposits increased to $34 million. Related Reading: Tether’s $1 Billion USDT Mint On Tron: What’s Fueling The Demand Surge? It’s a promising development for Robinhood Markets this quarter after facing plenty of challenges in the past. The company took a hit in early 2021 after it decided to restrict trading in GameStop and other meme stocks during a market frenzy. In a separate statement, Robinhood shared that it’s inching closer to a settlement with investors and traders. Q3 Filing Is Company’s Second-Best Revenue Despite its challenging backstory and the SEC’s regulatory pressures, Robinhood Markets found its rhythm to post a solid third-quarter performance. The company shared that its net deposits grew to $34 billion, and revenue increased 36% yearly to $367 million, with its cryptocurrency unit leading the surge. In its filing, Robinhood stated that its cryptocurrency revenue increased to $61 million over the quarter or 165%. Market observers expected this growth after the company completed its takeover of Bitstamp, thus pushing its trading volume. Robinhood Surprises With Impressive Growth Robinhood’s growth story impressed many market observers and analysts, given its recent experience with FTX, the ‘meme frenzy,’ and run-ins with the SEC. Last year, the company bought back its shares from Alameda Research for $605 million. At the time of the transaction, many observers expected that Robinhood would avoid cryptocurrency investments. However, the company surprised analysts by making crypto a critical investment through its Robinhood Crypto unit. For its Q3 filing, Robinhood’s Asset Under Custody (AUC) surged by 76% year-over-year to more than $152 billion. The firm reported that its holdings increased due to higher equity, better crypto valuation, and sustained deposits. The company has a portfolio heavy on Bitcoin, and the recent rise in the top crypto bodes well for the firm, which will continue to earn as long as the trend remains bullish for BTC. Related Reading: On The Verge Of History: Bitcoin Breaks $73,000 Barrier, Eyes New Record High – Details Robinhood Finally Moving Ahead After Regulatory Pressures Robinhood Markets is finally moving away from the challenges and issues. As mentioned, the company was embroiled in a trading scandal in early 2021 over the hype on GameStop and meme stocks. Last May, the Securities and Exchange Commission (SEC) issued a Wells Notice to the company. The agency argued that some of Robinhood’s cryptocurrency services violate securities laws. Interestingly, the SEC has not filed a case against the company. In the meantime, Robinhood Markets is business as usual. Based on reports, Robinhood has listed several tokens and allowed transfers for assets like SOL. However, access to the service is limited to EU customers. Featured image from Omar Marques/SOPA Images/LightRocket via Getty Images, chart from TradingView

In an analysis shared on X, Taran Sabharwal, CEO of Stix—a leading OTC trading platform specializing in liquidity solutions for private crypto transactions—provided insights into the upcoming unlock dynamics of the Celestia (TIA) token scheduled for October 31, 2024. His assessment suggests that the market may be underestimating the potential impact on TIA’s price action heading into November. Why Celestia (TIA) Could Be A Buy “TIA – an OTC story,” Sabharwal began. “We used on-chain data (via @celenium_io API) to judge exactly how the unlock dynamics may shape TIA’s PA going into Nov. The results are in the table above. We’ve summarized that a total of 92.3M TIA will be liquid post unlock, which would act as the upper bound of overall spot selling pressure.” Interestingly, this figure accounts for less than 50% of the total cliff unlocks, suggesting that the actual sell pressure may be only half of what the market has been anticipating. Sabharwal highlighted that the real increase in circulating supply compared to the current supply indicates a 41.8% dilution. Related Reading: Celestia (TIA) Leads Crypto Market With 16% Surge, Will It Hit $7 This Month? A significant factor in this dynamic is the activity of OTC buyers who acquired large amounts of the initial unlock and hedged on perpetual futures, causing open interest to surge in recent months. “We expect many of these shorts to continue winding down, partially negating the spot-selling pressure,” he explained. This unwinding could serve as a bullish signal for spot buyers due to the potential reset in funding rates. Sabharwal’s analysis included several key assumptions. OTC round buyers possess an 11 million TIA cliff unlock, included in the non-staked token category since these tokens originated from treasury wallets not tagged on the blockchain explorer. His team mapped a total of 292 vesting wallets but acknowledged some gaps, which were also included in the non-staked category. Reflecting on TIA’s OTC history on Stix, Sabharwal observed that Celestia has been one of the most actively traded assets in the OTC market this cycle. Early in the cycle, it offered an attractive opportunity for directional buyers, while sellers were eager to realize large unrealized profits without expecting an imminent bull market in Q3 2023. He continued: “In Q1 2024, the bull had matured and TIA rallied to $20+. OTC activity was minimal here as sellers didn’t want to take larger discounts (40+%) and buyers didn’t want to bid higher than the $8.5 ceiling. We saw almost no activity as sellers were ‘feeling’ rich and wanted to stay risk-on, despite having the opportunity to realize 100-800x on their investments.” Related Reading: Celestia Plans For 1 GB Blocks For Scaling: Why Are TIA Holders Worried? The dynamics shifted when TIA fell below $5. This was around the time when the Celestia Foundation started raising its OTC round of $100M at $3. “The vesting for buyers was the same as those of private investors—33% unlock on Oct 31 2024 (

The Cardano market (ADA) is now at a crossroads, going through tough times with the cryptocurrency market heating up. Despite the latest $73,000 mark that Bitcoin had attained today, the Cardano trade is losing its way forward, at the current time trading at $0.356. That amounts to 12% of lost value compared to what the coin hit just last month. Today, ADA won a minimal 2.2%, but investors see it failing in comparison with newer coins, which now are rapidly growing in prices. Related Reading: Analyst Eyes $6,000 For Ethereum As Key Support Level Emerges – Details Historical Trends Show Headroom For Further Growth For ADA holders, crypto expert Ali Martinez has some encouraging news. He thinks Cardano might behave in line with its spectacular 2020 expansion. Following a protracted consolidation period, ADA surged by almost 4,000% and peaked at $3.10 within 10 months. I believe #Cardano $ADA is following a similar pattern to 2020. If history repeats, we might see a pump around November 18—about two weeks after the US elections—and a potential market top by September 2025. pic.twitter.com/GgKWBqzYXU — Ali (@ali_charts) October 29, 2024 Martinez thinks if history repeats itself, we may see a price jump starting around November 18, 2024–two weeks after the US elections. As of now, Martinez said ADA has spent 455 days in a range since the last peak, and may hit $6.50 in September 2025 as it is going to skyrocket by 2,288%. ADA market cap currently at $12.4 billion. Chart: TradingView.com On-Chain Activity Raises Concerns A fresh analysis from IntoTheBlock that showed Cardano’s Network Value to Transactions (NVT) ratio has surged to its highest level since June adds to the concern. Often preceding price pullbacks, this statistic points to a decrease in on-chain activity relative to price increases. The report underlined that ADA might struggle to keep increasing pace without more on-chain involvement. Cardano’s NVT ratio has surged to its highest level since June, indicating a decrease in on-chain activity relative to price growth. This classic overvaluation signal is notable given $ADA‘s recent underperformance, suggesting the potential for further downside. Historically,… pic.twitter.com/yTx83exBXM — IntoTheBlock (@intotheblock) October 29, 2024 Despite these challenges, some analysts are optimistic about Cardano’s long-term horizon. They foresee an estimated 130% growth in the next three months and an impressive 140% increase in the next year. This gap between short-term struggles and long-term optimism would suggest that Cardano has short-term pain ahead but that significant recovery is on the horizon. Related Reading: Bitcoin Potential For Monetary Policy Sparks Growing Interest Among Central Banks The Road To Recovery For Cardano This is a challenging time for Cardano as investors monitor closely its price movement and the behavior of trading with the token. As long as concerns over further dips linger, there are some individuals that believe this is a good opportunity to enter the ADA market before it takes off. Analysts like Ali Martinez offer hope based on previous tendencies despite Cardano’s recent performance. ADA needs the next several weeks to solidify its position in the fast-changing crypto industry. Investors will monitor to see if Cardano can restore market momentum. Featured image from CoinFlip.tech, chart from TradingView

Investors got excited as Dogecoin experienced a big price upsurge making it the best-performing cryptocurrency in the last 24 hours after a massive campaign rally by presidential candidate Donald Trump. Dogecoin’s price spiked following the disclosure that the Tesla CEO is being considered as the head of a proposed department. Related Reading: Pepe Battles Price Decline, But Analysts Signal A Potential Rally Ahead Musk As Gov’t Efficiency Head Former US president Trump, who is eyeing a White House comeback, announced that Tesla CEO Elon Musk will hold a key position in his administration once he emerges triumphant in the upcoming US elections. Trump said that Musk would be the head of a proposed department called the Department of Governmental Efficiency or D.O.G.E. for short, an acronym that bears resemblance to Dogecoin. A similarity analysts viewed sparked the price rally. pic.twitter.com/y0UCd5NvMj — Elon Musk (@elonmusk) October 28, 2024 The Tesla CEO has been making rounds in the country to endorse Trump in his pursuit of getting a second chance at the White House. In a Trump rally in New York City over the weekend, Musk emphasized the benefits of establishing D.O.G.E. He explained that it would generate huge savings for the US government, saying that the new department could trim the annual US budget by $2 trillion. At the @realDonaldTrump / @JDVance rally at Madison Square Garden! https://t.co/gEcj39mXIp — Elon Musk (@elonmusk) October 27, 2024 Dogecoin Price Rally Mentioning the planned D.O.G.E. in a Trump campaign sortie reignited the interest in the oldest meme asset. Charts showed that the price of Dogecoin increased by nearly 15% and traded at $0.157 as the crypto becomes the biggest gainer among the top 100 digital currencies by market cap. According to CoinGecko, Dogecoin has been experiencing a price rally hitting $0.16 on Monday, the highest it has ever been since June. The subtle increase in Dogecoin over the last few weeks coincides with Musk’s continuous involvement in Trump’s quest to get re-elected as US president. After the recent shooting incident against Trump, Dogecoin prices climbed up to a level which is even higher than what it is currently experiencing in relation to D.O.G.E. DOGE price up in the last 24 hours. Source: Coingecko A Portion Of The Coins Are In Top Wallets Analysts said that Dogecoin can provide higher liquidity and abundant centralized listings, saying that the latest breakout pushed the coin’s volume to $2.5 billion. They said that top wallets hold about 21% of all Dogecoin, which is owned by individuals looking for long-term profits. At the time of writing, DOGE was trading at $0.165, up 14% and 16.3% in the daily and weekly timeframes. Related Reading: Bitcoin Potential For Monetary Policy Sparks Growing Interest Among Central Banks Meanwhile, market observers noticed that the Dogecoin price uptick has no impact on “dog-themed tokens”. They also noted that several wallets with substantial Dogecoin are seen to be keen on disposing of their digital assets anytime. Featured image from CCN, chart from TradingView

In his latest video analysis titled “I Just APED Into This Hidden RWA Altcoin Gem! [20x Potential],” prominent crypto analyst Miles Deutscher unveiled Chintai (CHEX) as his latest high-conviction investment within the Real World Assets (RWA) sector. Deutscher believes Chintai could offer significant upside potential—up to 1,900% (20x)—in the upcoming market cycle. Deutscher has consistently highlighted RWA tokens as one of his top investment narratives, ranking third behind memecoins and AI for this crypto bull run. “When I look at narratives that can actually change the fabric of crypto and really offer a new value add, I think RWA is massive,” he stated. He emphasized the growing appeal of on-chain treasury yields, especially as traditional decentralized finance (DeFi) yields diminish and interest rates decline. The analyst previously capitalized on early investments in ONDO and Mantra (OM), both of which have seen substantial gains. ONDO, for instance, delivered a 7x return from his initial entry point. However, Deutscher now considers these assets to be reaching overvalued territories. “Valuation-wise, though, it’s pretty insane considering the fact that its market cap’s a billion, but it’s fully diluted valuation (FDV) is $7.1 billion,” he said regarding ONDO. Related Reading: Crypto Analyst Unveils The ‘True Time To Sell It All’: Here’s When Deutscher has been reallocating his capital into what he perceives as undervalued opportunities within the RWA space. Alongside Clearpool (CPOOL), which he mentioned has already gained 42% since his initial disclosure, Chintai (CHEX) stands out as his newest and largest RWA position. “This one I’m also really, really bullish on. It’s tough for me to say if I’m most bullish on this, but it might be the one that I’m most bullish on in the RWA sector,” he remarked. Chintai differentiates itself by being one of the few RWA-focused layer-one blockchains regulated by the Monetary Authority of Singapore (MAS). “If you know Singapore, they are so strict with due diligence. It’s really hard to get a license; they fought for a license and they’ve got it,” Deutscher noted. This regulatory approval positions Chintai to attract significant institutional capital, potentially channeling billions of dollars in total value locked (TVL) onto their chain. The analyst highlighted Chintai’s robust fundamentals, including its extensive list of major clients and partnerships, such as DHC, Finstable, and Greengate. “They are basically a marketplace for tokenization, an L1 blockchain for RWA tokenization,” he explained. The platform has already facilitated over $630 million worth of loans and is set to launch “OZEAN,” a blockchain for RWA yield supported by Optimism, early next year. Related Reading: Top Crypto Analyst Unveils Best Altcoins For The 2025 Bull Run From a valuation perspective, Deutscher sees substantial upside potential. Chintai currently has an FDV of approximately $250 million, significantly lower than Mantra’s $1.37 billion FDV. “If CHEX—even in a static market without the market growing at all—does a 6x, that’s just now matching Mantra,” he calculated. Considering the potential growth of the RWA market, the upside could be even more pronounced. “What if the RWA market 2x’s? Because I think it’s going to be a very strong narrative next year; then you could be looking at a 14x.” Despite its strong fundamentals, Deutscher acknowledges that Chintai’s lower valuation compared to its peers is largely due to a lack of market awareness. “Why is there that discrepancy despite the fundamentals being just as, if not more strong, for Chintai? Just marketing,” he observed. Mantra has excelled in marketing efforts, attracting considerable attention in the crypto community. “Once Chintai can improve its awareness—and I’m actually giving it more awareness by making this video—that is the only key that it’s missing.” On the technical front, Deutscher finds Chintai’s chart promising. “What I also like from a technical analysis perspective is the fact it’s hovering above this zone, which, if you are technically inclined, you have that technical invalidation,” he said, pointing out the potential for a significant move to previous highs. He remains cautiously optimistic about price targets, emphasizing prudent profit-taking strategies. “I don’t want to get carried away with crazy price targets… I’m never greedy in this market.” Deutscher concludes that Chintai’s combination of regulatory compliance, institutional appeal, and undervalued status makes it a compelling investment. “They can actually attract institutional capital because of the licensing and because of the product they’ve built,” he affirmed. At press time, CHEX traded at $0.2874. Featured image created with DALL.E, chart from TradingView.com

Price action in Ethereum has attracted the attention of investors and analysts alike, as it trades near a critical support level at $2,600. Analyst Ali Martinez has pinpointed this region as the critical threshold that Ethereum will cross before it makes its next significant move. Related Reading: Bitcoin Potential For Monetary Policy Sparks Growing Interest Among Central Banks If this support is sustained, according to Martinez, it shall serve as the catalyst in staging a rally to usher the cryptocurrency to the ambitious target of $6,000. However, things do not seem that smooth ahead as already some market observers and participants have opined that the existing support could break under pressure. #Ethereum is testing a key support zone at $2,400. If this level holds, we might see $ETH aiming for the channel’s upper boundary near $6,000! pic.twitter.com/W8J8WVy5CL — Ali (@ali_charts) October 26, 2024 Ethereum has begun forming a rising channel from July 2023. An ascending channel is a technical pattern in which two parallel trend lines represent the support and resistance level. Recently, the price of Ethereum stayed near the lower edge of this corridor. Martinez believes that Ethereum will rally from here, so everyone’s holding on tight. Important Support And Resistance Zones The ascending channel pattern does not occur by accident. It indicates the probable paths of Ethereum. The trend line acts as a resistance level in the channel, while the trend line at the bottom actually acts as a support level for the price to bounce. The move of Ethereum past $2,600 is also an important retest point that will act as a pivot for its new price target. Martinez believes this is a good risk-reward opportunity for the investor and recommends placing stops at around $2,00 to $2,150. The idea behind these stop-losses is to limit the potential losses, but they also open up upside in case Ethereum moves higher towards the upper trendline. This observation appears somewhat vague, as some analysts are expressing concerns about a potential breakdown at the $2,500 range. However, Martinez has not provided much insight into how this situation could still create favorable conditions for a rally to occur. Indicators Look Positive: On-Chain Data On-chain data shows 70% of Ethereum holders are profitable. Therefore, this positive attitude would be further supported in terms of the level of profitability that reduces the chances of big sellers. When there aren’t strong motives for selling, then an upward movement for Ethereum could easily be expected. Related Reading: Floki Inu Warning: Analyst Says ‘Prepare For The Crash’ – Details Robust Long-Term Projections Meanwhile, the future estimates for Ethereum have room for growth. The current market predictions reveal that Ethereum is trading about 6.5% lower than the predicted target for next month, which also means the asset is underpriced. More positive projections for the long term range from 173% possible returns in a year, according to figures by CoinCheckup. Such growth could probably give a push to Ethereum’s upward movement and form a firmer support base that may encourage price levels to stay high and stabilized. Featured image from StormGain, chart from TradingView

PrimeXBT: What does the rest of the trading year have in store for Cryptocurrency? By Matthew Hayward, Senior Market Analyst at PrimeXBT Traditionally, the fourth quarter and October have been strong months for cryptocurrencies, particularly Bitcoin. However, this year, the gains have been less impressive than in previous years. Currently, Bitcoin has increased by over 5% this month, providing a glimmer of optimism. So, what has caused this underwhelming performance, and why haven’t we seen the expected rally? Reflecting on early October, a series of announcements and shifts in the economic landscape contributed to Bitcoin’s initial decline, setting a challenging tone for the month. Analysing the infographic below shows that, during a “bull market,” the fourth quarter has historically been a period of significant growth for Bitcoin. With just two months left in the quarter, will Bitcoin maintain its upward momentum? Source: Crypto Rover Current price movements influenced by political uncertainty Several key events demand attention from both political and economic perspectives. On the political front, the upcoming U.S. elections are in focus, with recent polls indicating a surge in Trump’s popularity. While the final results remain uncertain until election day, past trends show that Trump’s campaigns have often driven positive momentum in both traditional and cryptocurrency markets. He has also voiced support for advancing cryptocurrency adoption if re-elected, sparking questions about whether this could drive broader acceptance in the sector. Looking more closely at the infographic below, we can see that the timing of Bitcoin cycles alongside U.S. election cycles has generally resulted in a net positive impact on Bitcoin’s price following elections. Source: Crypto Rover Ongoing uncertainty in the macroeconomic landscape In September, the Federal Reserve made a significant move by reducing interest rates by 0.5%, marking a substantial shift after an extended period of stability. This bold rate cut takes us back to the last major interest rate cut, where the FED also cut interest rates by 0.5%, which took place right before the stock market crash that triggered the 2008 financial crisis. Source: Reuters Following the announcement of the interest rate decision, Non-Farm Payroll data came in significantly higher than expected, contrasting with previous reports. The Federal Reserve had previously emphasised its intent to support the labour market, and as the elections approach, it appears to be succeeding. However, the question remains: how substantial will next year’s revisions be if these results are indeed inflated? Could inflation continue to rise in the future? In the light of the Federal Reserve’s 0.5% interest rate reduction and unexpectedly strong job reports, attention has turned to inflation concerns. The Fed reiterates lowering inflation to its 2% target; however, traders are now concerned about the potential risk of inflation increasing following the rate cut. Recent CPI figures showed a slight uptick, landing at 2.4%, just below the previous month’s rate of 2.5%. Should inflation continue to rise while U.S. GDP data remains stagnant or decreases, the economy could face the threat of “stagflation.” Source: Reuters Could an economic downturn be looming ahead? Historically, Bitcoin and the broader cryptocurrency market have yet to face a prolonged period of major economic uncertainty. Since Bitcoin’s launch in the late 2000s, it has existed solely in the post-2008 financial crisis environment. This brings up an important question: how might the risk of a potential “Black Swan” event impact its price trends and disrupt established cycle theories? Source: Seekingalpha What impact do these developments have on cryptocurrencies and the broader markets? As cryptocurrency adoption increases and more institutional investors enter the market, traditional indicators are likely to have a greater influence on trading strategies for risk assets like cryptocurrencies. The two charts below illustrate how the markets are anticipating these data releases and their impact on Bitcoin’s price movements. Notably, prior to the interest rate cut, the price of Bitcoin began to rise sharply. This is because, in an environment of interest rate cuts, risk assets like cryptocurrencies typically perform better. The charts demonstrate how this positive sentiment was already reflected in the pricing, leading to an upward movement following the announcement. In the second scenario, we can see that the latest CPI data release was not favourable for the pricing of risk assets, as uncertainty grew regarding the possibility of rising inflation. If inflation were to start increasing, the chart below illustrates how the market was already pricing in a negative reaction to that data release. How to Trade Key Economic and Political Events with PrimeXBT As economic uncertainties increase, new trading opportunities may emerge. PrimeXBT stands out as a premier cryptocurrency and CFD broker, offering a robust trading platform for buying, selling, and storing cryptocurrencies. The platform grants access to more than 100 popular markets, including Crypto Futures, Copy Trading, and CFDs across Cryptocurrencies, Forex, Indices, and Commodities. Users can trade with both fiat and cryptocurrency funds, making it a flexible option for adapting to the changing macroeconomic environment. PrimeXBT enables trading by lowering barriers to entry and providing secure, user-friendly access to financial markets. The platform provides top-tier trading conditions and innovative tools, making it easier for both novice and seasoned traders to explore a diverse array of investment opportunities. Trade key events with PrimeXBT Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. Virtual assets are inherently volatile and subject to significant value fluctuations, which could result in substantial gains or losses. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. PrimeXBT does not accept clients from Restricted Jurisdictions as indicated in its website. 

Despite Neiro (NEIRO)’s recent price drop, analysts and investors seem bullish on the memecoin. Some market watchers noted the cryptocurrency’s potential, suggesting the levels to watch ahead of the next bullish rally. Related Reading: If Dogecoin Breaks Above Key Resistance ‘We Could See A 25% Rally’ – Top Analyst Neiro Sees 10% Weekly Correction Neiro made the headlines three months ago after becoming an overnight sensation on the Ethereum Network. The memecoin was inspired by the newly adopted sister of Dogecoin’s inspiration, Kabosu. The cryptocurrency has registered a remarkable performance during October, jumping 30% month-to-date (MTD). Moreover, the token saw an impressive rally towards its all-time high (ATH) price of $0.0022 two weeks ago, surging 4,600% in 30 days. The memecoin’s bullish momentum also propelled its market capitalization (MC) near the $1 billion mark, reaching a $935 million MC on October 15, which fueled a bullish sentiment among market watchers. However, Neiro’s price has declined since its most recent rally, trading 31.5% below its ATH. The Shiba Inu-themed memecoin registers a 10.3% drop in the past week, hovering between the $0.00132-$0.00170 price range. Despite the price drop, analysts and investors remain positive above the cryptocurrency. Crypto Tony noted that the memecoin is another token that looks “really good” since the beginning of its bullish momentum in mid-September. The analyst pointed out Neiro’s potential, suggesting that a small pullback from its recent levels could be a good entry point for investors ahead of an upcoming rally. Is $0.0020 Or $0.0010 Next? Since its all-time high, the cryptocurrency’s chart has displayed a downtrend, forming a broadening wedge pattern in the lower time frame, according to trader CryptoBull360. The market watcher noted that a successful breakout above the upper trendline could trigger a 25%-30% bullish rally for the token. Another trader suggested Neiro’s “situation on the chart is messy.” The trader stated that the token needed to break above the $0.00165 mark to continue its bullish trajectory and recover its ATH levels. However, if Neiro is rejected instead, the token could see a 30% correction toward the $0.0010 support zone. The $0.00165-$0.00170 price range represented an important consolidation zone ahead of the token’s surge toward its ATH. On Monday morning, Neiro’s price jumped 13.3% toward the $0.00170 resistance level. The token moved above the pattern’s upper trendline, signaling a breakout from its biweekly downtrend. Related Reading: Dogecoin Price To $24? Analyst Says No One Will Believe It Until It Happens Nonetheless, the token couldn’t hold above the key resistance level and pulled back toward the $0.00154 support zone. Crypto analyst Sjuul from AltCryptoGems suggested that the memecoin’s recent performance has been better than expected.  After “a longer manipulation” and reclaiming the $0.00150 level over the weekend, the analyst believes Neiro is ready to move toward higher resistance levels, potentially targeting the crucial $0.0020 mark again. As of this writing, Neiro is trading at $0.00151, a 4% drop in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Raydium (RAY) is on a tear. Despite the usual volatility across all crypto assets, including blue-chip meme coins like Dogecoin and Pepe, the token is up 215% this year. Raydium Rallying But Traders Must Be Cautious Taking to X, the analyst maintains that RAY will likely continue rallying as long as Pump.fun, the meme coin launchpad on Solana, is token-free. RAY is within a breakout pattern at spot rates, easing past March and July highs and printing a new 2024 high in the process. Related Reading: GOAT Outpaces PEPE Growing To $900M Market Cap In 2 Weeks – Details As it is, not only did buyers force the token above these two major liquidation levels, but it impressively shook off the weakness of August and September, more than doubling from September lows in the process.   As crypto sentiment improves, the odds of RAY edging higher for the better part of Q4 2024 will only increase. For now, traders expect the “uptober” to benefit altcoins the most. If Bitcoin, Ethereum, and Solana prices tick higher, breaking key resistances in the coming sessions, other quality DeFi tokens, including RAY, will find major tailwinds. Despite the confidence that Q4 of every trading year brings, Bitcoin has been moving sideways, struggling to breach $70,000. If there is an upswing, perhaps triggered by the outcome of the upcoming general election in the United States, RAY could extend gains in the process. Will A Pump.fun Token Slow Down RAY Bulls? The pace at which RAY expands, recouping losses of 2022, will also depend on other market factors, including meme coin activity on Solana. Additionally, traders will determine whether Pump.fun will launch their native utility and governance token. This is crucial because liquid tokens, surpassing the 69 SOL market cap threshold, are automatically listed on Raydium. Related Reading: Top Crypto Analyst Unveils Best Altcoins For The 2025 Bull Run Pump.fun is one of the most active platforms on Solana, aiding the minting of over 2.7 million meme coins on Solana. Due to this, the meme coin launchpad has generated over $152 million in fees, according at Dune Analytics. The eventual launch of a Pump.fun governance token will allow the platform to tap value, taking advantage of its valuation and virality. The team revealed plans to launch their token and a trading bot in a recent Twitter Spaces. As positive as this may be, there is no specific timeline for the token’s launch.   A Pump.fun token could attract liquidity away from RAY, possibly dampening the DEX’s growth despite the Pump.fun-Raydium current relationship, investors will find the meme coin launchpad’s token more attractive, especially if it serves a useful purpose and allows holders to participate in governance. Feature image from DALLE, chart from TradingView

Pepe [PEPE] is currently trading at approximately $0.000000900 and is undergoing a challenging period. The Relative Strength Index (RSI) is currently at 43.80, which is just below the neutral line. This implies that sellers currently possess a minor advantage. Related Reading: MicroStrategy Stock Hits All-Time High As Bitcoin Blazes Past $67,000 Memecoin Price On The Downtrend Some investors are apprehensive due to the downward trend of the price. Although PEPE has experienced significant price increases in the past, recent metrics suggest that momentum is diminishing. It is interesting that the number of holders is consistently increasing, despite the obstacles. This expanding base, which is now approaching 296,000, indicates that a devoted community continues to support the token. Even if participation has dropped, it is clear that many investors are still committed to the popular meme coin and have future hope. The declining trade activity has raised some questions, though. Active Addresses On The Retreat Active addresses that the PEPE network has seen have dropped significantly, data from Santiment shows; today they count roughly 13.5k. From peak levels recorded earlier this year, this translates to a decline. Lower active numbers of users would typically denote reduced trading volumes and hence decreased liquidity levels. Perhaps, this might indicate that euphoria regarding the memecoin market in the earlier stages is fading away slowly. The niche seekers probably are on a lookout for something new within such a developing memecoin territory. If the same continues then PEPE could struggle to regain its vibrancy. The more cautious sentiment among traders is evident in the subdued price action. Perhaps as a result of the general market’s uncertainty, certain investors appear to be waiting on the periphery. If the price remains under pressure, it is possible that the coin will experience additional declines before it establishes a strong foundation.   Glimmer Of Hope For PEPE Despite the challenges in engagement and the weakness in price, there are rays of hope for PEPE. In the coming three months, analysts expect more than a 200% increase which is a positive indicator of upside potential. Related Reading: Floki Inu Warning: Analyst Says ‘Prepare For The Crash’ – Details CoinCheckup forecasts that in the next month PEPE could be trading 220% lower than its current price. This can be an appropriate time to invest in the asset. The experts are of the opinion that the upcoming months will accrue the investor a total of 165% profits. Nonetheless, in the face of these difficulties, the future developments seem promising and PEPE will soar to $0.00044 by 2026, which may cause renewed interest in the sector as a whole. Featured image from Vanity Fair, chart from TradingView

A well-experienced trader recently got significant attention after making a bold statement that an XRP price hike could be somewhere between $30 to $35 based on his assumptions of the market. Related Reading: Floki Inu Warning: Analyst Says ‘Prepare For The Crash’ – Details Critics slammed his forecast, but Ralston Maximus, a seasoned investor, defended that the predicted price of XRP climbing to $35 is reasonable. XRP: A ‘Ridiculous’ Target? Another trader expressed his skepticism on the possibility that XRP could have such exponential price growth. In a post, @Phoddler was left in awe of disbelief at Maximus’ price assumption on XRP, calling it a “ridiculous” target. According to @Phoddler, based on his estimates, the price target is simply unattainable. He accused Maximus of proliferating price targets that are excessively optimistic, adding that it could harm the lives of investors who will believe in such exaggerated price predictions. Reality is, it was never looking to break out, thers it much more chance of seeing 30 cent than $7 — MXRP (@phoddler) October 22, 2024 He argued that it is more realistic to predict a price hike of $0.30, insisting that a $30 to $35 hike or even an increase of $7 might sound unreal. Hitting $35 Feasible? Maximus remained firm in his bold assumptions about XRP, saying that he is only telling the truth and being honest about a possible breakout for the digital asset. How the fuck is $30-35 a ridiculous target? It’s the larger measured move $30-35. $7 is the smaller measured move. I’m a trader with my one long term bag $xrp. We got bent up until breakout. The difference is I’m honest about it. Missed opportunity is missed opportunity. U Fk. https://t.co/SGXARjCNmt — Maximus Prime (@RalstonMax) October 22, 2024 He explained that the target is not ridiculous since the $30 to $35 price target represents the most optimistic outlook or as he describes, “The larger measured move.” On the other hand, the price target of $7 is also not irrational because the figure is the conservative assumption for the price rally, adding that the target will remain as a vision until the breakout finally occurs. He also defended that he is a long-term XRP trader and has great confidence in the future of the crypto. Related Reading: MicroStrategy Stock Hits All-Time High As Bitcoin Blazes Past $67,000 Drawing Inspiration From Ethereum Other market observers also agree that a double-digit price for XRP is realistic, citing the possible price upsurge for Ethereum. Although they are predicting a price of $35, they believe that the altcoin can experience a price hike and hit anywhere above $10. At the time of writing, XRP is being traded at $0.5159, which is slightly up by 0.3% in the last 24 hours, data from CoinMarketCap shows. Featured image from Trackinsight, chart from TradingView

Miles Deutscher, a prominent analyst with 551,000 followers on X, disclosed his portfolio of best altcoins for the anticipated 2025 crypto bull run. In his latest video, “My NEW Ultimate Crypto Portfolio For The 2025 Bull Run! [MUST-HOLD Altcoins],” Deutscher provided an in-depth analysis of his selections, emphasizing a strategic concentration on high-conviction investments across diverse sectors. Deutscher began by outlining his approach to portfolio construction, highlighting the importance of limiting core holdings to fifteen altcoins spread across six key sectors: meme coins, artificial intelligence (AI) tokens, infrastructure projects, gaming, real-world assets (RWA), and decentralized finance (DeFi). This structure is designed to enhance focus and manageability, particularly for investors who may not have the time to actively manage a larger number of positions. “Based on the feedback from my community, I believe it’s better in this market to concentrate into high conviction bets,” Deutscher stated. Best Altcoins For The 2025 Crypto Bull Run In the meme coin sector, which Deutscher allocates a substantial 25% of his portfolio to, he identified three primary candidates: WIF, PEPE, and SPX. WIF, described as the leading meme coin on the Solana blockchain by Deutscher: “It’s pretty much the number one Solana kind of beta meme coin. Anons talk about it a lot. It’s got major exchanges. Coinbase listings being teased coincidentally. It’s actually at a very nice DCA Zone at the time of recording this video.” Pepe, an Ethereum-based meme coin, benefits from widespread recognition and strong community distribution. “I do like Pepe because it’s the leading kind of ETH beta meme coin. It’s one of the most famous memes in the history of the internet and for that reason I think it commands a lot of mind share,” Deutscher remarked. Related Reading: Crypto Analyst Unveils The ‘True Time To Sell It All’: Here’s When SPX6900, endorsed by Murad Mahmudov, a leading figure in the meme coin space, is anticipated to attract substantial retail capital during market upswings. “Number three is SPX because […] Murad is the leader of memes. His number one shill and his number one meme holding is SPX, so this is one that I think is going to have momentum as retail comes in,” Deutscher remarked. Turning to the AI sector, Deutscher also allocates 25% of his portfolio to AI-focused projects, recognizing the burgeoning interest and potential in this field. His top picks include TAO, NEAR, and Spectral. TAO is positioned as the leader in decentralized AI, “focused on the enterprise side,” according to the analyst. NEAR, a top AI layer-one protocol, is selected for its potential to rebound during market dips and its foundational role in AI-driven applications, despite recent underperformance. Spectral (SPEC) is the “top AI agent play in crypto” for Deutscher. “They’ve got big backers. There’s no [token] unlock for another six months. You can basically automate your trading on-chain via AI agents,” he added. In the infrastructure sector, Deutscher maintains an equal 25% allocation, focusing on foundational projects that underpin the crypto ecosystem. Solana (SOL) remains his primary choice, recognized for its role as the launchpad for new meme and AI trends, and projected to deliver consistent returns without the explosive growth potential of smaller altcoins. Related Reading: Crypto Craze: Investor Nets A 3,360% Gain, Turning $86,000 Into $3.75 Million Fantom (FTM) is favored by Deutscher for its strong narrative. “I just think it’s got a great narrative with Sonic [upgrade]. Andre [Cronje] is a big figure in the space. You’ve had that cool down in terms of price and I think it’ll be one of the prevalent and l1’s this cycle,” the analyst claims. Third, Deutscher picks Aptos (APT) over Sui (SUI) because of its higher potential: “I picked Aptos […] because I just think in terms of a pair trade Aptos is probably the next to run after SUI already went on a massive run. That’s the only reason and the other thing is the price is looking good from a TA point of view. It’s still down significantly from all-time high so it has room from for for major upside.” Real-world assets (RWA) constitute 10% of Deutscher’s portfolio, a sector he believes is poised for significant adoption. His selections, CPOOL and CHEX, are chosen for their solid protocol development, strategic partnerships, and upcoming exchange listings, which are expected to enhance their market legitimacy and growth potential. Additionally, Pendle is mentioned as an honorable mention, recognized for its strong narrative, partnerships, and organic token distribution, making it a standout performer in the RWA space. The gaming sector, though traditionally undervalued, receives a 10% allocation in Deutscher’s portfolio. He highlighted Beam and Super as his top picks, with Beam serving as an infrastructure play backed by substantial treasury reserves and strategic partnerships, and Super functioning as a community-driven gaming meme coin with strong utility and a cult-like following. In the DeFi sector, Deutscher allocates 5% of his portfolio to two primary assets: AAVE and Rune. AAVE is identified as the strongest DeFi blue-chip, benefiting from robust revenue streams and increasing on-chain yields, making it a reliable cornerstone for the portfolio. Rune is viewed by Deutscher as a leveraged bet on the market’s bullish trajectory, expected to perform exceptionally well during market upswings due to its reflexive nature and the functionality of its Omnipool. At press time, WIF traded at $2.43. Featured image created with DALL.E, chart from TradingView.com

Floki Inu (FLOKI) is having a hard time because of bearish patterns in the market, which is making buyers nervous. Some predictions say the price could go up by 220%, hitting $0.00044 by November 26, 2024. However, new research shows that the short-term technical signs point in a different direction. Related Reading: MicroStrategy Stock Hits All-Time High As Bitcoin Blazes Past $67,000 Crypto analyst Alan Santana has pointed out that the token’s current sideways movement may signal further declines. Since reaching a high in March 2024, FLOKI has been trapped in a bearish trend, unable to regain its previous momentum. After a brief rally in June, the price has stagnated, reflecting a shift in market sentiment. According to Santana, traders should “prepare for the crash”, given the current negative market dynamics in play, based on his examination of the memecoin’s price movement. #Altcoins | #FLOKI ✴️ Floki Inu Major Drop Now Imminent: Prepare For The Crash! I remember we traded Floki Inu successfully on the bullish side, it was a nice ride, do you remember? Market conditions have changed. Notice the huge green candles in February 2024, these are about… pic.twitter.com/5OrScWHNeb — Alan Santana (@lamatrades1111) October 27, 2024 Analyzing The Current Dynamics The current technical indicators show a disturbing trend for Floki Inu. It seems the token is experiencing a long consolidation phase, which can be termed as a “distribution phase,” and the sellers are in charge. The heavy trading volumes during its earlier bullish moves, particularly in February and March, have shifted to heavy selling in recent weeks. As of now, FLOKI trades at $0.0001315, down 1.20% over the past day, and many are watching key support levels closely. Two really important support zones have developed. Should the bearish trend persist, analysts estimate FLOKI would retest the initial support level at $0.00009557. Should that break, the token may drop to a possible lowest value of $0.00004200. For those clinging to their tokens, this situation begs questions about whether it is time to change their stance. Fibonacci Levels Suggest Weakness Another technical indicator that is negative in its sentiment is the Fibonacci retracing levels. Most importantly, for FLOKI to dominate the market, it has been consistently rejected at the 0.618 and 0.786 levels. The persistent rejection of the price here indicates that the positive feeling is being crushed. Price action shows that FLOKI will go below its current trading range, which piles on more pressure on the holders as well. Caution For Investors In view of these contradictory messages, investors should still be extremely cautious. Since the immediate future seems hard, many predictions indicate there’s going to be an uptrend, and investors can hit a price that might reach $0.00044 at the end of November. However, many traders remain skeptical given the current sentiment. Related Reading: Whales Hit All-Time High Bitcoin Holdings At 670,000 – What Does This Mean For BTC? The Fear & Greed Index reads at 69, marking a greed level in the market. It is basically what leads to downturns. For the last month, FLOKI had its green days at 43%, volatility rate at 7.48%. Prior to making any decisions, it could be prudent for individuals wishing to enter the market to wait for more distinct indications of positive mood. When it comes to cryptocurrency, timing can be crucial. Featured image from Pexels, chart from TradingView

Michael Saylor’s MicroStrategy is back in the news, with its stock trading at a 25-year high. TradingView’s recent data shows that MicroStrategy (MSTR) hit $235.89 in Thursday’s session. The stock’s price increased by more than 7% on October 25th. MicroStrategy’s price action last Thursday continued its 6-week rally and came ahead of its scheduled Q3 earnings report. Related Reading: Whales Hit All-Time High Bitcoin Holdings At 670,000 – What Does This Mean For BTC? This week’s stock performance reflected the company’s consistent growth over the past few years. MicroStrategy has outperformed most of its peers in the S&P 500 index and even outpaced Microsoft’s growth since 1999. According to observers, MicroStrategy is bullish, with market analysts listing $245 as the stock’s next target. MicroStrategy Continues Its Bitcoin Focus MicroStrategy, a Virginia-based Bitcoin development company, is currently the world’s largest corporate holder of Bitcoin, with 252,222 BTC. With Bitcoin’s current price of $67,392, the company holds more than $17 billion in assets. MicroStrategy Stock Hits New Highs MicroStrategy’s stock (MSTR) has soared over 7% to a 25-year high of $236, with a current market cap of $47 billion, overtaking Microsoft in all-time stock gains. Since adopting Bitcoin as a treasury asset in 2020, MicroStrategy’s stock is up… pic.twitter.com/cyXS0KODCD — The Wolf Of All Streets (@scottmelker) October 25, 2024 Initially, the company developed software to analyze external and internal data to help decision-making, with IBM Cognos, Oracle Corporation’s BI Platform, and SAP AG Business objects as its primary competitors. However, in August 2020, the company changed its business model to focus on Bitcoin. The company has raised $4.25 billion from its equity offerings, the foundation for growing its Bitcoin holdings. MicroStrategy’s Bitcoin Plan Has Its Costs, Too As part of its Bitcoin plan, it aims to buy BTC at every opportunity. For the most part, Saylor’s strategy was a hit. However, the business plan to focus on Bitcoin came at a cost, and Saylor earned a few detractors and critics along the way. For example, the company has expanded its convertible note offering to raise funds to buy more Bitcoin. However, the bulk of these notes do not mature until 2032. Some market observers also say that MicroStrategy is in a difficult situation, especially during market downturns. Since the company relies on Bitcoin, the company’s future is dependent on crypto’s extreme volatility. Although most criticisms are valid, Michael Saylor remains defiant and has since doubled its BTC investments. Hey @SatyaNadella, if you want to make the next trillion dollars for $MSFT shareholders, call me. pic.twitter.com/NPnVvL7Wmj — Michael Saylor⚡️ (@saylor) October 25, 2024 Related Reading: Against All Odds: Solana (SOL) Breaks Past $176 In 3-Month Push Next Target For MicroStrategy Is $245 Market observers are now bullish on Saylor’s company. According to Mark Palmer, the company’s stock has boasted a 17.8% yield since starting its Bitcoin strategy. Palmer and the other analysts now target $245 to address this sudden surge and bullish sentiment. Palmer adds that the company’s share price has increased by 1,600% in the last four years, and more gains are possible. It also helps that Michael Saylor has remained steadfast in his vision and passion for Bitcoin. In a recent Twitter/X post, MicroStrategy’s executive chairman hinted at the company’s next move and made a pitch to Microsoft’s Satya Nadella. Featured image from Dall.E, chart from TradingView

A crypto analyst has forecasted a massive price surge for Dogecoin (DOGE), predicting that the king of meme coins will hit a whopping $24 in the near term. While this price target may seem ambitious with Dogecoin currently trading below $1, the analyst has remained confident, indicating that a surge to this target would shock skeptics.  Related Reading: Shiba Inu Inflows Soar 555% In 3 Months – Will The Momentum Continue? Dogecoin Eyes $24 Price Target  The Dogecoin price has been trading below $1 for years now, experiencing significant price fluctuations as it attempts to break out of key resistance levels and move past current bearish positions. In contrast to Shiba Inu (SHIB), its top meme coin competitor which has seen impressive gains recently, Dogecoin has experienced substantial price declines that have left a few investors no choice but to liquidate their holdings.  Amidst this bearish trend, a crypto analyst, identified as ‘CEO’ on X (formerly Twitter) has rekindled optimism among Dogecoin community members with a new bullish prediction for the cryptocurrency. The analyst has shared what he describes as the “ultimate Dogecoin chart,” where he projects that the meme coin could reach $24 soon. In the Dogecoin chart, the analyst disclosed the cryptocurrency’s past price movements, highlighting two instances where the meme coin experienced prolonged bearish trends before breaking out into a massive price surge. Based on Dogecoin’s current price action it seems the meme coin is displaying similar historical conditions that suggest that a bull rally might be imminent. And according to the CEO, this potential bull rally could see DOGE hitting $24.  Is A $24 Dogecoin Price Increase Possible?   Given how lofty a $24 price for Dogecoin might seem, the CEO has acknowledged that many people would doubt such a bullish outcome. Nevertheless, he expressed strong confidence in this prediction, asserting that Dogecoin skeptics will be proven wrong when the meme coin reaches this milestone.  With Dogecoin’s price presently trading at $0.13, it’s understandable why many investors would be skeptical of the meme coin reaching a $24 price target. Achieving this ambitious milestone would require the king of meme coins to surge approximately 18,362% from its current price — an extraordinary leap that would likely occur during periods of intense demand and bullish sentiments typically seen during strong bull markets.  In addition to this, a $24 price surge for Dogecoin would also require its market capitalization to reach trillions of dollars. As of writing, Dogecoin’s market cap sits at $19.6 billion, meaning it would need to surpass Bitcoin’s market capitalization which is currently $1.3 trillion to hit this price level.  Related Reading: Against All Odds: Solana (SOL) Breaks Past $176 In 3-Month Push Data from CoinMarketCap shows that the Dogecoin price has experienced a 6.41% decrease over the past seven days and another 4.37% decline in the last 24 hours. The cryptocurrency is currently trading at $0.134, with derivatives data from Coinglass showing that the meme coin’s open interest is down by 9.65% but also up by 24.2% in terms of trading volume.  Featured image from Newsweek, chart from TradingView

Microsoft is preparing for a critical shareholder meeting on December 10, during which the future of Bitcoin as a potential investment will be a heated topic. At present, Bitcoin is trading at approximately $68,115, which represents an increase of approximately 1.22%. The rise in interest aligns with constant debates around the cryptocurrency as an inflation hedge, which some Microsoft investors find appealing. Related Reading: XRP Could Rally 27% This Week In ‘Tremendous Move’, Analyst Says Microsoft’s Position On Bitcoin Microsoft revealed in a recent application to the US Securities and Exchange Commission that it will propose evaluating Bitcoin investment during the forthcoming conference. The National Center for Public Policy Research (NCPPR) says that Bitcoin has done better than traditional investments and could be a good way to protect against inflation. JUST IN: Per an SEC filing, Microsoft will have a proposed board resolution for an “Assessment of Investing in Bitcoin”. The board is recommending that shareholders vote AGAINST the proposal. pic.twitter.com/0WveygitH9 — TFTC (@TFTC21) October 24, 2024 Microsoft’s board, on the other hand, wants shareholders to vote against this plan because the company has already looked at a wide range of investable assets, including cryptocurrencies. According to a spokesperson for the company: “Volatility is one of the important aspects for all the investments in cryptocurrencies for corporate treasury” This emphasizes the careful strategy that Microsoft has adopted as far as the management of its corporate treasury is concerned as well as for the benefit of enhancing the shareholders value for the long term. The board is of the opinion that the requested public appraisal is unnecessary, as they already monitor trends and developments in the cryptocurrency sector. Big-Wig Stockholders Microsoft’s major shareholders include a number of major institutional investors, such as Vanguard, BlackRock, and State Street. These organizations own a large percentage of the company and have considerable power to affect its policy direction. Although some shareholders are advocating for Bitcoin investments, others may be more in line with the board’s cautious stance. It is important to note that BlackRock has been actively increasing its Bitcoin holdings through its ETFs. BlackRock’s iShares Bitcoin Trust ETF has registered inflows to the tune of over $317 million in a 24-hour timeframe, according to recent reports. This trend implies that there is an increasing institutional interest in Bitcoin, despite Microsoft’s reluctance to implement comparable measures. The Road Ahead As the December conference gets ready, the debate about Bitcoin’s importance in Microsoft’s investment plan gets more intense. The NCPPR argues that businesses should commit at least 1% of their whole assets to Bitcoin to help to reduce inflation risks. Despite this project, Microsoft insists that its present corporate treasury distribution policies are sufficient. Related Reading: 5 Million Strong: Active Ethereum Wallets Drive Strong Momentum Bitcoin has experienced a nearly twofold increase in value in the past year and has recorded a remarkable 414% increase over the past five years. Although Microsoft may not be completely prepared to invest in cryptocurrency investments at this time, the increasing interest from institutional investors such as BlackRock suggests that the discourse surrounding Bitcoin is far from over. Microsoft’s upcoming shareholder meeting will be the focus of all attention, and it is uncertain whether the tech giant will alter its position on cryptocurrencies or maintain its commitment to stability in its investment strategy. Featured image created with Dall.E, chart from TradingView

Cat in a dogs world (MEW) has taken the market by storm after becoming the second cat-themed memecoin to hit a $1 billion market capitalization. The token joined POPCAT’s rally and reached a new all-time high (ATH) on Thursday, leading the whole feline sector. Related Reading: Web3 Automation Provider Ava Protocol’s Demand Surges 900% Ahead Of Token Launch MEW Hits Major Milestones Cat in a dogs world registered a significant 18.4% surge in the last 24 hours, propelling to a new ATH twice this morning. The cryptocurrency recorded its fifth ATH in the past two weeks, increasing over 95.2% and taking the memecoin sector by storm. After its surge to $0.01127, the cryptocurrency hit the long-awaited $1 billion mark, becoming the second cat-themed token to achieve this feat. As a result, MEW flipped Base Network’s token Brett as the tenth largest memecoin by this metric. MEW initially joined the memecoin’s top ten list back in Q2, ranking 8th among the dog-themed pack. It significantly retraced as POPCAT’s popularity grew, registering a 60% correction after leading the cat-themed sector during Q1. Nonetheless, the cryptocurrency has been on an uptrend for the past month after hovering between the $0.004-$0.006 price range during most of Q3. MEW’s rally this week seems to be fueled by the token’s listing on the Korean crypto exchange Upbit. Market watcher Crypto General noted the memecoin’s recent performance, revealing its next target for MEW. The analyst highlighted that the cryptocurrency has been “in a consistent uptrend from its launch, showing great strength and potential.” Crypto General expects parabolic surges in the coming days, suggesting that the cryptocurrency will target the $0.045 range for its price discovery period. As of this writing, MEW traders at $0.0112, 1.1% below its ATH.  Has The Cat Season Arrived? Many crypto analysts have previously suggested that a cat-themed memecoin season was coming. Solana’s feline leader, POPCAT, recorded a new ATH on Thursday after hitting the $1.67 mark. The memecoin has registered an 82% growth in the last thirty days, becoming the first cat-themed token to achieve the $1 Billion market cap milestone a month ago. Alongside MEW and POPCAT’s remarkable rally, other cat-inspired memecoins have seen a notable performance over the past week. BNB Chain-based token Simon’s Cat (CAT) recorded a massive surge in the past week, nearing its all-time high price on Wednesday. CAT’s price skyrocketed 80.4% in the last three days following its Future Listing on the crypto exchange Binance. Related Reading: SUI To Face Another Pullback Following 5.3% Dip, Analysts Forecast 30% Correction The price jumped from the $0.0000245 level to the $0.0000442 mark, trading just 5% below its $0.0000462 ATH registered over a month ago. Despite being down 5.1% from yesterday’s surge, CAT still registers a 53% weekly increase. Crypto Trader Bluntz stated that the “cat season is truly underway” as the whole sector soars over 8%, according to CoinGecko data. Featured Image from Unsplash.com, Chart from TradingView.com