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Render (RENDER) underperforms in the face of the market’s current pullback, resulting to the token experiencing a strong pullback in the past couple of days. According to CoinGecko, RENDER fell by nearly 13% since last week, putting into perspective the bearishness that overcame the market’s bulls in the start of October. Related Reading: Is Crypto Losing Steam? Bitcoin And Ethereum Addresses Shrink In 2024 Although the market fell by a small margin, it caused a massive liquidations of both long and short positions holding the token. For Render, “Uptober” might come later this month as the token recovers lost ground against the bears. However, on-chain developments continue to come for one of the most well-known decentralized physical infrastructure (DePIN) protocol.  Render Displays September Achievements  September for Render is incredibly bullish in terms of developments, one of the most notable is their support for Redshift, Mavon’s in-house 3D renderer. The tool itself has features that would heavily leverage Render’s decentralized compute niche that artists use in their workflow. With the coin already supporting the platform’s C4D file support of Mavon’s Cinema 4D, users of Redshift should not expect a hitch in using the integration. https://t.co/cSZk9wpIaK — The Render Network (@rendernetwork) October 1, 2024 Annabele Siconolfi, a 3D artist that tried Redshift integration on the platform, estimates the time saved in a recent render job by over 70-80 hours.  The Render Network’s X account has also grown by 100%; from 100k to 200k. Render’s X account is one of the ways the platform can engage with the community, further enhancing its connection with the users of Render. https://t.co/SLedMsVO7X — The Render Network (@rendernetwork) September 30, 2024 Community engagement is important for decentralized networks as it helps with including the community in the decision making process. With this huge jump in community following, trust and belief on Render’s worth might have improved over the past month.  RENDER Breaks $5.3 – Can It Continue Its Trajectory? At its current pace, RENDER bulls have broken through the $5.3 resistance– flipping it to support– after a brief breakthrough by the bears in the short term. As RENDER tries to settle above its current support level, the token might have enough momentum to continue its current trajectory.  Related Reading: What’s Holding Bitcoin Back? Analyst Says $71,000 Is The Magic Number However, the relative strength index (RSI) of the token is entering a possible bearish reversal zone that might support bearish movement in the medium term. If this occurs, RENDER’s position will be compromised with a possible return to $4.9 in the short term.  If the bulls continue to wrestle for control of RENDER’s momentum, the token will stabilize on $5.3 in the short to medium term before the bulls can move upward, possibly targeting $6.3 in the long-term.  Featured image from Pexels, chart from TradingView

Aptos (APT) soared over 10% in the last 24 hours following Aptos Labs’ acquisition of HashPallete. The token is leading the market after becoming the largest gainer among the top 100 cryptocurrencies by market capitalization. Related Reading: Bonk ‘In Prime Position For Turbo Green Week’ As Price Recovers Key Level Aptos To Expand Its Presence In Asia On Thursday, Aptos Labs, the developer of the Aptos network, announced it had agreed to acquire the Japanese Blockchain developer HashPallete, the company behind Japan’s Palette Chain and a subsidiary of HashPort Inc. The agreement aims to become a “game changer for Japan and the Aptos ecosystem” as the integration with the Japanese blockchain is set to strengthen its presence in the Asian market: Japan has long been a hub of technological innovation, and it’s no different when it comes to blockchain. The country’s unique blend of advanced tech and widespread blockchain adoption makes it a model for Web3 initiatives globally. Today, we’re making one of our boldest strategic moves into this market with our agreement to acquire HashPalette Inc. As part of the acquisition, HashPort Inc. will migrate the Pallete Chain and its subsidiary’s applications to the Aptos Network. The Japanese chain will also have access to the Aptos ecosystem’s security, scalability, and developer tools. The migration is expected to be completed by early 2025, in time for the EXPO2025 DIGITAL WALLET. Moreover, Aptos Labs partnered with HashPort to support local developers, NFT creators, and enterprises by “continuing to build blockchain solutions (…) using Aptos Network’s infrastructure.” APT Leads The Crypto Market Following the announcement, APT’s price saw a daily 11% surge, jumping to the $8.66 resistance level before retracing to the $8.51 mark. This performance crowned the token as the leading crypto amid the market retrace. APT is among the few cryptocurrencies recording green numbers in most timeframes among the top 100 tokens by market cap. The altcoin registers a 7.5% and a 41% increase in the weekly and monthly timeframes. Additionally, its daily market volume soared 41.7%, reaching a $769.6 million trading volume in the last 24 hours. The token’s performance was highlighted by several crypto analysts, who considered that APT has the “most interesting chart” at the moment. According to Yuriy from BikoTrading, the cryptocurrency looks strong as the rising trading volume and the price performance “signs for continued growth.” The trader noted that APT’s price held above the key resistance zone amid the market retrace, which sent the token above Q3’s range highs. Similarly, crypto trader Osbrah stated that APT has been “secretly climbing its way to the most interesting alts charts.” He pointed out that, after October 1’s market sweep, the token had a “clean bullish retest” above the $8 mark. To the trader, the next big resistance is at the $9 mark, which could send APT’s price to the $7.95 support zone if it fails to reclaim it. Meanwhile, another market watcher suggested that the altcoin’s performance could be close to a breakout. Related Reading: Analysts Unfazed By Bitcoin (BTC) Drop, But Should We Fear October 5? Per the post, SUI and APT moved in a “catch-up trade” path for the past year, moving closely together until SUI decoupled in early 2024. This led to a 44-day lagging period for APT before it followed SUI’s movements. After that, APT rose 98% to its yearly high of $18.8 in mid-March. Now, APT has seen a 32-day lagging period after SUI decoupled again in September, showing “incredible amounts of strength.” Based on this, the analyst suggests that the cryptocurrency could follow SUI’s trajectory and kickstart a massive rally in the next two weeks if history repeats. Featured Image from Unsplash.com, Chart from TradingView.com

Veteran trader Peter Brandt believes that the recent rally of Bitcoin still isn’t enough to flip the long-term bearish trend. While BTC did have a brief surge, he insists it hasn’t reached the levels needed to confirm a bullish reversal. Bitcoin needs to break $71,000 first and then confirm that, says Brandt. And while he claims this, other market analysts such as Jesse Colombo and Roman warn that geopolitical tensions and market patterns might bring BTC down even further. Related Reading: Breakout Looms: XRP To Hit $7.5 After ‘Wake-Up Line,’ According To Analyst QCP Capital highlights cautious optimism, noting that the recent sell-off appears shallow, suggesting potential for recovery. As more major traders take time to think about it, Michal van de Poppe thinks this pullback is short-term and would look forward to a retest of $60,000 support before Bitcoin makes a strong rebound. For more than seven months now, Bitcoin has traded in a downtrend with consecutive lower highs and lower lows reinforcing bearish sentiment. Even though the short-lived optimism had some toe-hold moments, according to Brandt’s chart work, the larger pattern isn’t altered. BTC must break through the higher levels of resistance at hand before a shift to the bullish side can be seen. Resistance Levels Holding Bitcoin Back According to Brandt, Bitcoin is caught between two very important levels of resistance. The first is at $70,600, while the second and the all-time high of Bitcoin is at $73,800. Both marks have capped the upward movement repeatedly, and thus, they are a must for Bitcoin’s next major move. Since Bitcoin is unlikely to convincingly break above $71,000, the asset is likely going to stay in its current consolidation scenario, Brandt believes. The recent rally in Bitcoin did NOT disturb the 7-month sequence of lower highs and lower lows. $BTC Only a close above 71,000 confirmed by a new ATH will indicate that the trend from the Nov 2022 low remains in force pic.twitter.com/lFO9A20VPD — Peter Brandt (@PeterLBrandt) October 2, 2024 Roman is also one of the very popular crypto traders with a similar opinion. He noticed that any increases in volume along with price drops usually prove to confirm a strong downtrend. Roman believes that Bitcoin will test the $55,000-$57,000 range before any hope of reversal, which again puts emphasis on struggling to break through at those resistance levels. Moving Averages And Market Uncertainty Bitcoin’s 8-week simple moving average (SMA) has been residing at a level of around $60,526 and has served as resistance recently on the price charts. The price of BTC has hung off that line for a while, which indicates the fact that market participants haven’t really decided if they are buying or selling. It hasn’t traded too low below it to find good strength in order to move up either. For volatility, the Average True Range of Bitcoin is at 5,756. That’s a relatively small level of volatility within the market. That only means the market can generate large moves, but hasn’t built an extreme level of volatility just yet. Dealers are watching closely for these indicators because they could signal where Bitcoin will break next. Geopolitics Tensions And Market Sentiment The Middle East tension is yet another strain in the cryptocurrency market. Of course, Bitcoin has started to surge in volatility alongside growing concerns of global instability. The price of Bitcoin over the last 24 hours has gone down by 3% to reach $61,380. Actually, that fall was part of the general sell-off among cryptocurrencies within which the entire market capitalization went down by 7.6% over two days. Bitcoin and crypto always tank when there are geopolitical fears, unlike precious metals. That confirms my long-held belief that crypto is not a safe-haven. It’s yet another risk asset just like high-flying tech stocks. $BTC $GLD pic.twitter.com/SBLgLgdpKB — Jesse Colombo (@TheBubbleBubble) October 1, 2024 According to Jesse Colombo, a well-known market analyst, Bitcoin, as well as other cryptocurrencies, usually worsen during periods of geopolitical instability. As he points out: “Bitcoin and crypto always tank when there are geopolitical fears, unlike precious metals.” The history was mainly the same with Bitcoin when global tensions reached their peak. It would appear the current market is no different from this historical precedent. Related Reading: Could XRP See A 360% Surge By Christmas? Experts Think So QCP Capital remains optimistic, despite the bearish sentiment that pours out from some corners. This is a token of positivity: sell-offs from a few days ago appear shallow, and one might expect investors to remain interested in risker assets, such as Bitcoin. Similarly, Michal van de Poppe predicts a retest of the $60,000 support level, suggesting the market could reverse course if that level holds. Featured image from Finshots, chart from TradingView

Bonk continues its bullish rally as ‘Uptober’ begins, sparking a bullish sentiment among investors after the recent fear of a major pullback. The memecoin sensation kickstarted its Q4 journey positively, reclaiming crucial levels, with investors and crypto analysts forecasting a green weekly close. Related Reading: SUI Sees 15% Weekly Surge Ahead Of Token Unlock, Can It Hit New ATH In October? BONK Closes Q3 With 13% Surge Bonk has seen a remarkable performance throughout the past two weeks, jumping 60% since September 15. The memecoin broke above the multi-month downtrend line after successfully reclaiming the $0.000022 resistance level last Friday, registering a 38% surge in the past week. Additionally, the dog-themed sensation closed the month 48% above its opening price, revisiting levels before August’s Black Monday. The token also saw a 13% increase from its Q3 opening, trading around $0.000025 as October started. This bullish price action propelled BONK’s price above $0.000026 momentarily before retracing back the $0.000024 support level, which some considered an extremely bullish signal for the token’s future price action. According to crypto trader Astekz, BONK’s monthly reclaim meant that “any consolidation” above the breakout level is “giga bullish.” Moreover, the token had a 13% increase in daily market activity in the past day, registering a daily trading volume of $795.3 million. Is A ‘Turbo Green Week’ In The Making? Crypto analyst Bluntz noted that, alongside all the strong memecoins, BONK had a “swift” recovery from the weekly dip following a “perfect abc pullback.” This performance put the memecoin “in prime position for a turbo green week,” which he further predicted after its Monday performance. To Bluntz, BONK is close to a breakout after spending three days of sideway moves. Additionally, the token reclaimed the 200-day Moving Average (DMA), which had been sitting above it for the past day. The trader considered that the token’s next parabolic run could be “sustained” and target the $0.000035 resistance level soon. Other market watchers echoed this sentiment, highlighting BONK’s strength throughout the recent dips. Another analyst noted that the memecoin has moved within a large symmetrical triangle since its March all-time high (ATH). The trader detailed that the token’s price is moving closer to the pattern’s resistance since forming a triple bottom at $0.000016. A breakout from the multi-month pattern could send the token’s price to a potential 70% rally toward the previous ATH of $0.000045. Additionally, some investors believe that the cryptocurrency could be positively affected by the market’s general performance this “Uptober.” Related Reading: WIF Bulls In Control As RSI Signals Strong Upside Potential Last October, the cryptocurrency started a massive rally that shredded two zeros from the token’s price, closing Q3 2023 at $0.00014, a 6,900% surge. However, the BONK registered a price decline in the last few hours following Bitcoin’s dip to $62,000. As of this writing, the memecoin is trading at $0.00023, a 2.9% drop in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

The long-anticipated trading of Eigenlayer’s EIGEN token began today, following the lifting of transfer restrictions that had been in place since the token’s launch in May. Major cryptocurrency exchanges including Binance, Kraken, Coinbase, ByBit, and OKX have listed EIGEN, providing liquidity to holders of the token, many of whom received it through airdrops earlier this year. In a statement released through X, the Eigen Foundation highlighted the importance of this milestone: “We’re thrilled to announce the unlocking of the EIGEN token, a big step for the Eigenlayer ecosystem. This opens up new possibilities for open innovation, shared security, and participation across the network.” Related Reading: EigenLayer’s Exclusive $15 Billion Token Launch: Who’s In And Who’s Out? They added that the unlock enables developers to build Actively Validated Services (AVSs) using EIGEN staking, enhancing protocol security and functionality. “The unlock of EIGEN marks the beginning of broader engagement. It acts as a catalyst for economic expansion, governance, and protocol development, driving growth and strengthening the decentralized ecosystem,” the Eigen Foundation added. Buy Or Sell Eigenlayer (EIGEN)? Market sentiment has been mixed on the first day of trading. Lookonchain reported significant purchases by whales, indicating strong interest from large-scale investors. One transaction involved an address purchasing 383,672 EIGEN at $4.05, totaling $1.55 million. Another address spent 1.31 million USDC to acquire 318,651 EIGEN at $4.10. 2 whales bought 702,324 $EIGEN($2.86M) in the past 4 hours! 0x2dcd spent 588 $ETH($1.55M) to buy 383,672 $EIGEN at $4.05.https://t.co/QtcgQQJfSR 0xb112 spent 1.31M $USDC to buy 318,651 $EIGEN at $4.1.https://t.co/qy5SoAuuru pic.twitter.com/Dzt65tYwJT — Lookonchain (@lookonchain) October 1, 2024 Despite these buys, not all activity has been bullish; notable crypto whale GCR was reported to have sold a significant amount of EIGEN shortly after the unlock, depositing over 250,000 EIGEN into Binance. “GCR (@GiganticRebirth) claimed an airdrop of 253,946 EIGEN($1.06M) through 7 wallets and deposited all of it into Binance 40 minutes ago. #GCR“ Lookonchain reports. Crypto analyst Aylo offered a comparison of EIGEN’s market performance relative to other tokens via X: “EIGEN launched exactly in line with the pre-market price, sitting at $7B FDV. A few coins with bigger FDVs than EIGEN currently include OP ($8B), ONDO ($7.9B), UNI ($7.7B), FIL ($7.6),BCH ($7.2B),” he noted, suggesting that EigenLayer’s role in Ethereum’s ecosystem could be a critical factor in its valuation. Related Reading: EigenLayer Founder Reiterates Support For Ethereum, Why Is ETH Struggling? “EigenLayer is the innovation on Ethereum this cycle, and has had more coverage than almost anything else in the EVM in the last year. Really does feel similar to the conditions that TIA launched in. Does the PA play out the same way? No unlocks for a year too…,” Aylo noted. Daan Crypto Trades, another prominent analyst, remarked on the market dynamics: “EIGEN Launched today. I think many market participants will be watching the price action develop to gauge overall market strength and sentiment. So far, price has held up, and even gone up slightly, even though there’s a lot of airdrop participants selling their tokens.” He speculated on the potential for EIGEN’s market valuation to rise, indicating that the current conditions might be more favorable than in recent months. “If the market keeps trending from here I’m assuming EIGEN can go much higher than $7B FDV. Earlier this year it was estimated to launch at $20B+ (in better market conditions). Having said that, I don’t own any right now but I’d definitely be a buyer at $2-3 and I think many would. So not sure if it gets there at all if it doesn’t do so in the first few days of airdrop selling,” Daan concluded. At press time, EIGEN traded at $4.127. Featured image from Coinbase, chart from TradingView.com

SUI has seen a 15% surge in the past week following its remarkable price action throughout Q3. The cryptocurrency’s performance continues to fuel investors’ sentiment, but some believe the upcoming unlock event could hinder its rally toward a new all-time high (ATH) next quarter. Related Reading: SUI Ready To Test $2 Resistance – Bullish Pattern Suggests New ATH Soon From ‘SUIptember’ To ‘Uptober’ In the past three months, SUI’s price surged 114%, moving from the $0.8 mark to the $1.75 price range. The cryptocurrency was among the best performers throughout Q3, registering green numbers while most tokens bleed during the market retraces. In August, the token saw up to 50% price surges amid the market downturns, registering a 73% recovery from the monthly lows and 14% from its opening price. This month, the token also saw a massive increase from September’s opening, registering a 119% surge in the last 30 days. Market analyst Crypto Bullet noted that SUI’s monthly candle is “absolutely phenomenal” as it has been retesting levels unseen since April and is sitting 20% below its all-time high (ATH) of $2.17. The analyst previously suggested that the cryptocurrency was poised to test and break its major resistance level of $2 in Q4, which is usually a bullish period for the market, and reach a new ATH around the $5 mark. During its 10% jump over the weekend, SUI tried to reclaim the $1.85 resistance but dropped to the $1.7 support zone as the market saw a 2.5% dip in the past day. Since the drop, the token has been hovering between the $1.70-$1.75 price range, recovering its levels from 24 hours ago. Sui Network Milestones Fuel The Token’s Rally The sentiment surrounding SUI seems fueled by the networks’ recent achievements. According to Artemis Terminal data, Sui Network surpassed all other chains in daily net flows on Monday, reaching $6.8 million in positive net flows in the past day. Comparatively, Ethereum and Solana registered $4.9 million and $3.4 million net flows in the last 24 hours. The network also had the second-largest daily inflows by chain with $10.3 million, only surpassed by Ethereum’s $35.8 million. Moreover, the chain reached the long-awaited $1 billion Total Value Locked (TVL) milestone on Sunday, less than two years after its Mainnet launch. Nonetheless, many investors and crypto analysts consider that the upcoming October unlock event could negatively affect SUI’s performance. The event will unlock 64.19 million tokens worth $112 million, increasing the cryptocurrency’s circulating supply by 2.4%. Despite the unlock, some market watchers consider the cryptocurrency’s performance will continue its bullish rally. Crypto analyst Bluntz recently called the token “a certified beast” due to its recovery from the dips. Related Reading: Solana Price (SOL) Holds Crucial Support Level: Is the Rally Still Alive? Bluntz noted that “every dip on 4h end up abc-looking and keeps trucking higher,” including the latest weekend drop. He suggested that the token is still in the “macro wave 3 still and hasn’t even had a wave 4 yet.” Per his chart, SUI’s wave three will target the $2 resistance level before retracing to the $1.65-$1.70 support zone in wave 4, setting the wave five’s target around $2.6. As of this writing, the cryptocurrency is trading at $1.76 and has outperformed the global crypto market in the past week, according to CoinGecko data. Featured Image from Unsplash.com, Chart from TradingView.com

Raoul Pal, the founder of Real Vision and a recognized figure in the crypto community, has issued a stark warning about the rapidly approaching transformations in the global economy, driven by unprecedented technological advancements. In his latest video, Pal, who has long advocated for an understanding of what he calls the “exponential age,” claims that the coming years will bring about the largest changes humanity has ever experienced, due to the rapid development of artificial intelligence (AI) and robotics. According to Pal, we are nearing what he terms the “economic singularity,” a point beyond which current economic, market, and business frameworks will no longer be applicable. “By about 2030, things are going to become not understandable by using the existing frameworks of economics, financial analysis, markets, and that kind of stuff,” Pal explains. Pal He asserts that AI and robotics are advancing at a pace that will soon outstrip human capacity to adapt under current economic systems. Falling birth rates and aging populations across developed nations are leading to a decline in the traditional economic drivers of GDP growth. Moreover, Pal notes that productivity has not kept up with technological capability, and most new debt is simply servicing old debts, not creating new economic value. Related Reading: Grayscale’s Bullish Forecast: The Top 20 Crypto To Watch In Q4 The most significant aspect of Pal’s warning concerns the role of AI in the economy. He believes that AI will reach and surpass human levels of intelligence across all areas of knowledge, fundamentally altering the landscape of labor and productivity. “AI is basically infinite human knowledge now […] As these models scale, the breakthroughs come through, and the average IQ of AI goes from 100 to 400, and then on to a million times the intelligence of a human,” Pal states. This immense growth in AI capabilities is expected to lead to what Pal describes as infinite productivity and a near-zero marginal cost of electricity, primarily due to advances in renewable energy technologies. He argues that these factors will lead to massive deflationary pressures as goods and services become increasingly inexpensive to produce. The Key Role Of Crypto Pal is particularly bullish on the transformative power of blockchain technology and cryptocurrencies in this context. He describes a future economic model where “AI agents” perform tasks and transact autonomously using cryptocurrencies, given their ability to operate independently of traditional banking systems. Related Reading: VP Kamala Harris’s First Speech On Crypto Sparks 7% Rise In This Memecoin “Obviously, we’ll probably need crypto payments to pay you. […] I think we’ll use cryptocurrency to do that because last thing I checked, AI can’t get a bank account – it’s never going to transfer money over SWIFT, never going to happen,” Pal remarks. Pal urges viewers to recognize the urgency of investing in cryptocurrencies. He advises that the window for capitalizing on these technologies is closing fast, with only about six years left to make substantial gains before traditional economic and market structures transform irreversibly. “We’re going to have to go through this together and we have to be smart and try and figure it out as we go but I do know that this idea of 6 years to make as much money as possible is really important and I do think that the real answer to this, as far as I can see, is cryptocurrency because it is the best performing asset in the world and of all time. So I think that’s the one thing we can lean in, it has a huge future,” Pal says. At press time, Bitcoin traded at $63,588. Featured image from YouTube, chart from TradingView.com

Internet Computer (ICP) continues to impress investors as it captures gains despite the market being down a few percent today. According to the latest market data, the token is up 16% since last week, a confirmation for some that ICP will continue to trend upward in the coming days.  Related Reading: XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance Despite the market’s undeniable bullishness, a reversal might be forming in the coming days, threatening this month’s gains. However, with investors anticipating ‘Uptober’, there might still be room for investors to squeeze in some gains as the month ends.  Rejection At $9.90 Might Force Investors Below $9.23 As of writing, ICP’s upward trajectory is threatened by a rejection by the $9.90 resistance level which might force the token well below $9.23 if the sentiment reversal continues to strengthen. Considering that the $9.23 support level is quite weak, the bearish thesis holds a lot of weight on the portfolios of investors.  ICP’s current trajectory started at the start of August and continued to mature and develop over the month. Although it seems that this drive will be continuous, experiencing only a couple of dips here and there, the current rejection coupled with the market’s dip today, the token might be on the path of losses in the coming days.  The relative strength index (RSI) is also signaling that ICP bulls will hit their threshold in the coming days, which will lead to the token suffering a pullback. If the token does not stabilize at its current price level, ICP bears will have the momentum to break through the $9.23 support level with $8.09 as the target. However, if the token stabilizes it has the potential to achieve a breakthrough on the $9.64 resistance with the target set at $11.41. Internet Computer: Network Activity Skyrockets As Fees Surge  Token Terminal, a crypto market data aggregate, recently shared that Internet Computer network activity over the month has surged, leading to a surge in fees. This led to the platform beating other L1s in the category as it reached an over 5,000% increase in the past 30 days. BREAKING: Internet Computer has generated more fees than @Optimism, @arbitrum, @avax, and @0xPolygon in the past 30 days. pic.twitter.com/lqaUoA5cc9 — Token Terminal (@tokenterminal) September 24, 2024 According to the platform, the jump in activity is due to bob.fun, a blockchain built on top of ICP that creates a secure record book while using the underlying platform for security.  In a recent discussion at the Token2049 in Singapore, Dominic Williams, the Founder and Chief Scientist of the DFINITY foundation, talked about how Compute is the cornerstone of modern society.  “When you’re running software or a system on the ICP network, it never crashes or stops running,” said Williams.  Related Reading: UNI Surges 30% Amid Ongoing On-Chain Development Talks With the use case for ICP as a security and compute layer, network activity on the platform may continue to trend upward in the coming months.  Featured image from Pexels, chart from TradingView

Following the market’s recent pump, the leading cryptocurrencies have seen a remarkable performance. Bitcoin is trading above the $64,000 mark, while Ethereum (ETH) has surged 9% in the last week to consolidate above a key support level. Despite the bullish sentiment, some crypto investors remain cautious about ETH’s performance as the second-largest cryptocurrency faces the next crucial resistance level. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps). The bullish momentum propelled the ETH’s price to ranges not seen in a month, triggering a positive sentiment among many investors. Over the weekend, the “King of Altcoins” surged from the $2,300 support zone to the $2,500 mark before reclaiming the $2,600 resistance level as the week started. Since then, the cryptocurrency has hovered between the $2,600-$2,684 price range, momentarily dropping below the key support level on Wednesday afternoon. Nonetheless, Ethereum has faced resistance today after recovering from the recent drop to $2,500. Market analyst Crypto Yapper noted that ETH had been “running into critical resistance on the Daily chart,” as it had been unable to break successfully above the $2,650 mark since Tuesday. This performance worried some investors, who considered that not breaking above this level could hinder the cryptocurrency’s run and send the price toward the previous support zones. However, Ethereum’s price jumped 1% in the last hour to trade above $2,650. As of this writing, ETH exchnges hands at $2,660, recording a 2.1% and 9.3% price increase in the daily and weekly timeframes. ETH To Reach New Highs In October? Crypto Trader Daan highlighted that Ethereum’s price made a higher low (HL) but has not been able to make a higher high (HH) yet. The trader noted that an HH would occur above the $2,820 mark, which was lost over a month ago, and it would signify a trend reversal for the cryptocurrency. This level corresponds with the horizontal level that kickstarted the February-March run to $4,090 after the breakout. Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it “an important level to watch.” A breakout above this mark could further propel ETH’s price toward the $3,000 resistance level. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereum’s chart is “looking a lot like a 2023 redux.” Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrency’s current market structure resembles its 2023 movements very closely. A repeat of ETH’s previous bullish trajectory suggests that ETH’s price is about to break out and hit a new all-time high (ATH) mid to late October. Additionally, the chart shows that if it follows the same bullish trend, Ethereum’s price has the potential to reach somewhere between the $10,000 to $20,000 targets by Q1 2025, which would represent a 669% surge from its current price and a 300% jump from its ATH. Featured Image from Unsplash.com, Chart from TradingView.com

Popcat, the latest Solana-based memecoin sensation, has crowned itself as one of the best-performing cryptocurrencies in the market. The memecoin has stolen the spotlight following its 117% surge throughout Q3, outperforming other well-established tokens in the sector. The feline sensation has now consolidated as the first cat-themed memecoin to hit a $1 billion market capitalization, leading the market’s bullish run alongside tokens like Sei (SEI) and Worldcoin (WLD). Related Reading: Bitcoin (BTC) On Track For ‘Strongest September Performance’, Is $90,000 Next? POPCAT Hits $1 Billion Market Cap Status Memecoins became the leading sector during this cycle, with many tokens outperforming most altcoins over the last few months. At the front of the frenzy, dog-themed tokens like dogwifhat (WIF) stole the spotlight during Q1 and Q2. However, a feline rival is challenging its spot as Solana’s best-performing memecoin. Investors and market watchers have praised the cat-themed sensation’s performance over the past few months. Throughout Q3’s violent market retraces, POPCAT showed a remarkable performance, becoming the largest gainer among the top 100 cryptocurrencies several times. The memecoin’s price quickly bounced from its 55% pullbacks during the market crashes, recovering and surpassing its previous level each time. POPCAT’s price has seen a 117% surge in the past three months, driving its price from the $0.68 mark to a new all-time high (ATH). In the late hours of Tuesday, the cryptocurrency broke above the $0.97 resistance level set by its previous ATH. The memecoin continued its 21% jump towards the $1.08 level, its new ATH, before retracing to the $1.01-$1.02 price range. The surge propelled POPCAT’s market capitalization to the $1 billion mark, cementing its status as the leading cat-themed token and making it the first memecoin in this sector to achieve it. Following its remarkable rise, the token registers a 57.8% and 40.2% surge in the weekly and monthly timeframes. Its daily market activity also saw an 82% jump to a trading daily volume of $133.3 million in the last 24 hours. Investors See Further Price Potential Some crypto whales loaded their bags as POPCAT broke the $1 barrier. On Wednesday morning, on-chain data analytics firm Lookonchain revealed that a crypto investor recently repurchased the cat-themed sensation, suggesting that some investors feel positive about the token’s future performance. Per the post, the whale spent 8,644 SOL, worth around $1.29 million, to buy 1.3 million POPCAT over the past two days. The address bought 456,000 tokens on Monday before acquiring another 843,000 POPCAT when the memecoin hit $1. This whale had previously sold its POPCAT holding at a 45% loss over two months ago. The investor saw $611,000 in losses from selling its 1.69 million tokens. However, before the long-awaited surge to $1, crypto investor Trade4ddict noted that the POPCAT’s consolidation under the key resistance level was a strong sign for its potential bull continuation. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets The trader considers that after “blowing off” the $1 resistance, the memecoin has “good chances” of pumping toward the $2 target. He also suggested that the previous high at $0.8 should offer some support before a potential correction. As of this writing, the memecoin continues to hold the $1 support level, exchanging hands for $1.01. Featured Image from Unsplash.com, Chart from TradingView.com

Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardano’s price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a “lack of appeal” to the broader public. Additionally, many have criticized ADA’s “underwhelming” price action. However, the token’s recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardano’s recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardano’s token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADA’s price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADA’s market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance “indicates a huge trend reversal for Cardano.” However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structure’s higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For ‘Strongest September Performance’, Is $90,000 Next? Other analysts also highlighted ADA’s performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern.” To the analyst, “If crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste.” ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

Popcat (POPCAT) is spearheading the movement to bring attention to Solana’s memecoins. Many of these projects are proving the critics wrong, despite others doubting their “shelf life.” Related Reading: Bitcoin To Outshine Gold By 400% By 2025, Veteran Analyst Predicts In the wake of Bonk’s ascent and its intention to introduce a Bonk ETP, Popcat has gained attention due to its most recent performance. Notably, CoinCodex has taken notice and has predicted that POPCAT’s price would grow significantly as long as its trading volume keeps increasing. Trade Volume Record Popcat’s trade volume increased by more than 128% in the last day, propelling it to the top of the CoinGecko charts. Its price has increased by an amazing 35% in the past week, demonstrating the great level of interest and activity surrounding the coin. Given the level of competition in the digital currency market, it is by no means a small achievement to witness such an activity boom. Curious to see how far this meme coin might grow by 2024, investors are closely keepin an eye on it. Popcat is now closer to $1. From the time of writing, CoinMarketCap displays an 18% surge in value in the 24-hour timeframe. The coin’s value has incrementally been rising since its launch in March 2024. Positive Signs The level of open interest has just reached an all-time high, which is indicative of a rise in the number of traders that are engaging. The fact that funding rates are still high lends credence to the expectation that this cryptocurrency with a cat motif will continue to rise. How high can Popcat truly go now that all of these signs point to a continuing rising trajectory? Analyst optimism is on the cautious side. Forecasts indicate that POPCAT could reach $2 by the end of the year, giving early investors a gain of over 100% if market conditions remain positive. Related Reading: Bittensor (TAO) Explodes By 81% – Is $530 The Next Target? Navigating Market Vibes Even with all of Popcat’s hype, market sentiment right now is a mixture of caution and hope. By October 24, 2024, CoinCodex projects an astounding price increase of 228%, with a possible peak of $3.01. For the past month Popcat observed 50% of its trading days in the green and 17% price volatility. This statistics point to a relatively dynamic yet steady market environment. Popcat’s steady performance and the growing interest in Solana’s memecoins paint an encouraging picture. The combination of trading volume, positive market indicators, and bullish forecasts suggest that Popcat could be a worthwhile investment. As always, potential investors should do their research and consider market conditions before diving in. Featured image from Pinterest, chart from TradingView

As the broader crypto market shows signs of notable recovery, memecoins are experiencing significant gains, reflecting investors’ renewed appetite for quick and substantial returns after a period of volatility and price declines.  Move From Bitcoin To Memecoins In Upcoming Crypto Bull Run? Crypto analyst Ardizor has outlined five memecoins to watch, anticipating that these assets could yield substantial returns as what he describes as the “biggest bull run” in crypto is set to commence in October. Related Reading: Bitcoin To Outshine Gold By 400% By 2025, Veteran Analyst Predicts According to Ardizor, Bitcoin (BTC) cycles typically begin 170 days after its Halving event and reach their peak approximately 310 days later. He suggests that starting in October, these memecoins and the broader market are positioned for significant gains that could surpass previous record highs. Ardizor emphasizes that new bull runs often begin with liquidity flowing to established cryptocurrencies like Bitcoin and Ethereum (ETH) before shifting toward memecoins, setting the stage for a potential resurgence in the sector. Five Tokens Poised For Major Gains Among the memecoins Ardizor highlights are Sundog (SUNDOG), which has rapidly gained traction within the Tron network. He notes that Sundog is rooted in community engagement, aiming to unite enthusiasts and create “an inclusive ecosystem that offers various benefits for its holders.”  Currently trading at $0.31, up nearly 6% in the 24-hour time frame, and with a market cap of approximately $287.7 million, Sundog stands out as one of the most promising new entries in the memecoin landscape, according to the analyst. Another notable mention is Simon’s Cat (CAT), which has emerged as the largest and most recognized meme coin on the Binance Smart Chain (BNB). Ardizor points to its consistent price increase, noting that Simon’s Cat is backed by the well-known Simon’s Cat brand, which has garnered over 1.6 billion views on its YouTube channel.  The memecoin has a market cap of around $280.6 million and is trading at $0.000040, up a substantial 96% in the last month alone, proving the analyst’s theory of further price gains and investor interest in the token.  The analyst also discusses Cate on ETH (CATE), a memecoin that originated from the Dogeverse and was inspired by a tweet from the Own the Doge social media account.  With strong ties to Dogecoin (DOGE), Ardizor believes that CATE embodies a “spirit of adventure and innovation”, making it an attractive option for investors looking for the next big thing in memecoins. It currently has a market cap of around $16.2 million. Related Reading: Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish In addition, Neiro (NEIRO) is highlighted as a continuation of the Doge legacy. Associated with Kabosu, the dog behind the iconic Doge meme, Ardizor contended that Neiro captures the “true essence of memecoins and internet culture.”  NEIRO currently has a market capitalization of $341 million, with a notable 52% increase in the last 24 hours, resulting in a trading price of $0.0012, and over 2,325% in the last thirty days alone, making it the best performing token on Ardizor’s list. Finally, Ardizor introduces the Turbo token (TURBO), a project that began as a bold experiment in cryptocurrency creation. Inspired by artificial intelligence (AI), Turbo was initiated with a simple challenge to create the next great memecoin starting with just $69.  Today, the analyst notes that it thrives as a decentralized, community-led initiative, boasting a market cap of $387 million. Currently, TURBO trades at $0.0062, recording impressive gains of 8,980% year-to-date (YTD).  Featured image from DALL-E, chart from TradingView.com 

Memecoin Kamala Horris (KAMA) has seen its first notable increase in over a month, rising 7% in the last 24 hours, in response to comments made by US Vice President Kamala Harris, who pledged to support the growth of the crypto space if elected.  Harris Promises Support For Crypto And AI Speaking to donors at a fundraiser in New York City on Sunday, Harris outlined her economic agenda, which aims to foster innovation in the artificial intelligence (AI) and digital asset sectors while ensuring consumer protection, according to Bloomberg. At the event held at Cipriani Wall Street, Harris stated:  I will bring together labor, small business founders and innovators, and major companies. We will partner together to invest in America’s competitiveness and future. We will encourage innovative technologies like AI and digital assets, while protecting our consumers and investors. Interestingly, this is Harris’ first public comment on crypto as a Democratic presidential candidate, raising expectations among investors and enthusiasts about her stance on digital assets compared to President Joe Biden’s administration. Related Reading: Bitcoin To Outshine Gold By 400% By 2025, Veteran Analyst Predicts The cryptocurrency sector is becoming increasingly influential in the 2024 presidential election, especially as industry executives and investors express frustration over what they perceive as onerous regulations under Biden.  Harris’s campaign has indicated a desire to support the growth of digital assets while also advocating for necessary safeguards, particularly in light of recent “high-profile failures” in the crypto market. In contrast, former President Donald Trump, Harris’s Republican opponent, has actively courted the crypto industry, promising to replace Securities and Exchange Commission (SEC) Chair Gary Gensler and to create a stablecoin framework.  Harris Outraises Trump In August Fundraising Push Per the report, Harris’s fundraiser was a significant event aimed at bolstering her “financial advantage” in the race against former president Trump. Tickets for the event ranged from $500 to nearly $1 million, allowing top-tier donors exclusive access to meet Harris and attend additional events.  Harris’s campaign has reported impressive fundraising figures, raising $361 million in August alone, contributing to $404 million in campaign funds at the start of September.  This financial backing surpasses the $130 million raised by Trump and the Republican National Committee during the same period, giving Harris and the Democrats a substantial $109 million cash advantage. KAMA Surges Amid Growing Optimism For Harris’s Presidential Bid Kamala Harris’s recent statements have boosted her fundraising figures and led to gains for the memecoin KAMA, which has seen its first increase in over a month. Currently trading at $0.0052, KAMA has recorded a gain of 7.2%, recovering from a dip to $0.0500 earlier this month amidst a broader market decline. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Despite this recent uptick, KAMA remains down nearly 87% from its all-time high of $0.039, reached on July 24, according to CoinGecko data.  It remains to be seen whether further announcements and statements of support for the digital asset industry could lead to further gains for the token in the coming days, with less than two months until the presidential election.  Featured image from DALL-E, chart from TradingView.com

Making waves in the crypto industry today, Bittensor (TAO) is showing an impressive annual increase. The current explosion in artificial intelligence adoption has spurred more interest in cryptocurrencies, and Bittensor is conspicuously leading in this regard. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details TAO has shown an amazing 1,000% price rise over the last year. The digital asset was up by a solid 65% this month. Looking ahead, CoinCodex projects a whopping 243% price rise, maybe reaching $1,827 by October 23, 2024, therefore inspiring investor hope. Right now, Bittensor is trading at $525, slightly below the vital $530 threshold. This shows strong market mood since it indicates an 81% sustained upward push in the past week. Given the good technical indicators and a positive view of the next months, traders are excited to see how high TAO may get. Strong Market Momentum At the moment, Bittensor is riding a wave of strong upward progress. The price went up by 40% after a recent wedge exit, setting the asset up for more gains. Bittensor’s futures open interest has gone from $61 million to $114 million, showing that investors are taking notice. This rise means that more investors are starting new positions, which means that money is coming into TAO. Moreover, the recent price increase has been accompanied by heightened bullish signals. With liquidation for short positions at a yearly high of $1.45 million, people betting against the market are driven from their positions. Long position liquidations, meantime, have been somewhat minimal, just $139,000 over the past week. This pattern shows increasing confidence among investors thinking about the future price movement of Bittensor. Positive Mood And Price Projections Expectations are that this optimism regarding Bittensor will hold. Furthermore, according to CoinCodex, this will result in an increase of up to 240% as the figures could rise to $1,827 come October 23, 2024. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains The fear & greed index is little changed at 50, and technical indicators are close to neutral. Such a signal is an indicator that investors in the market are staying positive about the prospects of the coin registering more gains ahead. With 16 of his 30 trading days posted in the green over the past 30 days, Bittensor has a 53% success record. Coupled with a 17.69% price volatility, this result suggests a healthy state of the market. Bittensor: Strong Market Signals Bittensor is fairly positioned within the AI coins sphere. Its phenomenal price pump and solid market signals give hope to traders about its prospects. Hence, soaring open interest, a high liquidation rate on short positions, and positive projections for the price indicate that Bittensor may record decent profits in the coming months. Featured image from X/@CryptoGirlNova, chart from TradingView

Veteran analyst Peter Brandt is making a bold prediction that is creating a lot of talk in the crypto arena: by 2025, Bitcoin should see its price jump 400% relative to gold. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains He feels that, according to the market patterns witnessed so far, Bitcoin could soar to the equivalent of around 123 ounces of gold. This rally potential comes in the wake of general price predictions, as Bitcoin is likely to increase by 65% over the next three months and by almost 100% in six months, data from CoinCheckup shows. Over the next year, an increase of 130% is estimated, meaning that confidence in the upward movement of Bitcoin is quite strong. There has never been a better moment for investors to ponder this question: Will Bitcoin be able to rise above the iconic status of gold as the prime store of value? Never mind if the crypto market cannot resist their bold prophesying; the confluence of key factors appears to portend a triumph for Bitcoin in the years ahead over gold. When I look at chart of Bitcoin/Gold ratio, here is how I view it: $GC_G $BTC $BTCXAU 1. Continuation inverted H&S pattern, neckline at 32.5 to 1 2. Left shoulder low at 14.2 to 1 3. Right shoulder forming flag 4. Could decline into high teens to 1 5. Target 123 to 1 pic.twitter.com/VKvsDqwkuU — Peter Brandt (@PeterLBrandt) September 21, 2024 Institutional Adoption Fuels Optimism A significant reason why Bitcoin is likely to rocket soon is because of the increasing institutional investment. Large financial companies, even governments, have begun to view Bitcoin as a store of value akin to old inflation hedges like gold. Such institutional support will be crucial in propelling Bitcoins’ price even higher as capital continues to pour into the market in more considerable volumes. But perhaps most significantly, decentralized finance has unlocked new use cases for Bitcoin beyond its role as a store of value. By including the underlying cryptocurrencies in the DeFi ecosystem, investors can use their Bitcoin positions in ways gold simply cannot be used. According to Titan of Crypto, another respected voice in the crypto community, Bitcoin’s unique position within DeFi will only strengthen its value proposition against traditional assets like gold. Gold’s Rise Could Boost Bitcoin Interestingly, the forecasted rise in gold prices could indirectly benefit Bitcoin. As gold registers fresh all-time highs, it reinforces the narrative of precious metals as a hedge against economic turmoils. This, however, makes Bitcoin a more functional option considering its digital nature and increasing utility within decentralized finance. Investors looking to diversify may see Bitcoin as a way to gain exposure to both safe-haven assets and the rapidly evolving digital economy. According to Wall Street investment banks, gold is likely to break through $2,700 as 2025 progresses, thanks to the expected rate cuts by the Federal Reserve. If Bitcoin maintains its current trend, its price compared to gold may rise, maybe reaching the 123-ounce threshold. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details How This Feels To Investors The consequences of this prediction are substantial for investors. Those who own Bitcoin would see significant rewards if the alpha coin’s price rose 400% in relation to the popular yellow metal. Investors must exercise caution when considering this opportunity, despite the fact that Bitcoin’s long-term outlook remains optimistic, particularly in light of its projected 132% price increase within the next year. Overall, the crypto landscape is evolving rapidly, and Bitcoin’s role as a store of value could very well surpass gold’s in the coming years. Investors would do well to keep an eye on both assets as economic conditions shift and markets react to global developments. Featured image from Asia Times, chart from TradingView

By Matthew Hayward, Senior Market Analyst at PrimeXBT Historically, Bitcoin and the broader cryptocurrency market tend to experience a downturn in the month of September. This month has typically led to bearish price action movements, with both Bitcoin and other cryptocurrencies seeing consistent negative returns. However, this September has been unusually eventful, with heightened price activity driven by shifts in the macroeconomic landscape and signals from central banks regarding potential policy adjustments. These factors have created a “perfect storm” of volatility within risk assets, particularly in cryptocurrencies. As seen from the past decade of data, September consistently ranks as the worst month for trading Bitcoin. Source: Crypto.ro Bitcoins Seasonality and the Crypto Cycle Theory   Traditionally Bitcoin and the broader cryptocurrency market have closely followed the “cycle theory,” particularly aligning with Bitcoin’s four-year halving cycle. So, how does this cycle relate to the current market performance? Following the most recent halving event, we have seen months of consolidation, with prices fluctuating within a range and market sentiment remaining predominantly bearish. This sentiment has directly influenced current market behaviour, keeping prices stable and reflecting the cautious outlook of traders and investors during this phase of the cycle. Source: Tradingview, Bitcoin Mathematics Uncertainty in the Macro-Landscape  The macroeconomic landscape is becoming increasingly dynamic, marked by heightened uncertainty around central bank policies, something we haven’t seen in years. This uncertainty raises critical questions: will we face a recession, or will the economy continue to grow? With central banks navigating challenging economic conditions, the market is anticipating potential shifts in policy. This environment, combined with September’s historical tendency for consolidation and lower price movements, sets the stage for increased trading volume and volatility. As we approach key monetary policy decisions, especially with the U.S. elections on the horizon, we can expect an extended period of heightened volatility in the cryptocurrency market. Source: Reuters Big move from the FED and their Interest Rate decision This month we have already seen the Federal Reserve surprise markets by implementing a 50 basis point rate cut, lowering the interest rate from 5.5% to 5%. This unexpected move has caught the attention of market participants, signalling a shift in monetary policy that could have effects on the broader economy and financial markets. You can observe below how after this rate cut decision, we have already started to see the total crypto market as a whole shift to the upside. Almost a 10% increase since the announcement. TOTAL CRYPTOCURRENCY MARKET CAP: Bitcoins price action during this period of uncertainty Despite September’s reputation as a historically weak month for Bitcoin, there are already signs of a potential breakout by the end of the month. Current price movements suggest a shift in market sentiment, hinting at the possibility of continued upward momentum. This outlook aligns with Bitcoin’s halving cycle, which tends to precede bullish phases. Many experts believe we are approaching this critical phase, with favourable market conditions and long-term cyclical trends likely to drive a surge in Bitcoin’s price in the near future. BITCOIN (BTC/USD): Other notable moves in the Cryptocurrency space Following the release of favourable monetary policy data for risk assets, some interesting trends have emerged in the altcoin market. Solana, in particular, appears to be leading the way, showing the most volume and momentum. Its price is up nearly 25% for the month, challenging the belief that September is typically a poor-performing month for cryptocurrencies. This surge suggests that market dynamics may be shifting, with certain altcoins going against traditional patterns and benefiting from improved economic conditions. There have been other notable movements, particularly from Ethereum (ETH). Despite the recent launch of the ETH ETF, there has been a somewhat delayed response in terms of increased volume and volatility in the pair, unlike the immediate surge seen after the Bitcoin ETF launch. However, Ethereum seems to be staging a comeback, with its price now trading above the $2,500 mark and showing signs of further short-term gains. It will be interesting to see if the ETH ETF ultimately has a positive impact on price action as market conditions evolve. How to capitalise on the upcoming economic events As the macro landscape evolves and uncertainty surrounding policy adjustments and macroeconomic conditions grows, new opportunities emerge. PrimeXBT, a leading online Crypto and CFD broker, provides an exclusive all-in-one trading platform designed to meet the diverse needs of traders. At PrimeXBT, you can trade various price movements across multiple markets, including Crypto Futures and CFDs on cryptocurrencies, foreign exchange, indices, and commodities. It also offers the possibility to buy and trade with Crypto as well as fiat. With industry-lowest fees, powerful trading tools, and a broad selection of asset classes, PrimeXBT delivers the features you need to make the most of these economic opportunities. Trade economic 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. 

Tether (USDT), the world’s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now close to achieving a significant milestone. Recent data shows a massive influx of money into the crypto industry in the past week, with over $1 billion going into stablecoins. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains Naturally, most of this inflow has gone into Tether (USDT), pushing its market cap closer to an unprecedented $120 billion. Tether (USDT) Leads The Stablecoin Market Stablecoins are one of the innovative applications of blockchain technology. Their use cases have grown over the years from trading other cryptocurrencies to a growing use in lending platforms and payments for goods and services. The stablecoin market has witnessed massive growth since the beginning of the year. This growth has been largely driven by increased investments in the crypto industry since the beginning of the year, contributing to their adoption.  According to data from IntoTheBlock, the stablecoin market had a total market cap of $122 billion in October 2023. However, the bull run since then has pushed the total market cap to over $169 billion in September 2024, representing an increase of 38.5%. Furthermore, data shows that the inflow has increased by 1.71% from last month. At the helm of the stablecoin market is Tether, which has the largest share of the market cap. As of this writing, Tether’s market cap sits just shy of the $120 billion mark, with a consistent flow of new capital pouring into the stablecoin. Particularly, Tether currently has a market cap of $119 billion, representing a 70.4% stake among all stablecoins. USDC, the second-largest stablecoin, comes in at a current market cap of $35.88 billion. This growth has been largely due to USDT’s ability to maintain its value pegged to the U.S. dollar over the years, making it an attractive option for traders seeking stability amid market turbulence.  What Lies Ahead For Tether And Stablecoins? The influx of capital into the stablecoin sector highlights the growing interest in stable digital assets, especially with growing concerns of inflation and the weakening of fiat currencies in developing countries. At this rate, Tether dominance among stablecoins is set to keep growing.  Just last week, the Tether Treasury minted $1 billion USDT on the Ethereum blockchain and another $100 million USDT on the Tron blockchain. Interestingly, other lower market cap stablecoins have also been benefiting from this interest surge in stablecoins. One of these is First Digital USD (FDUSD), whose market cap has seen an increase of 47% in the past 30 days and now stands at $2.94 billion.  Related Reading: Catizen (CATI) Soars 10% Following Multiple Exchange Listings Adding to this momentum is Ripple, the company behind XRP. Ripple recently announced plans to enter the stablecoin space with its Ripple USD (RUSD) stablecoin with plans to connect global financial firms and institutions. Given Ripple’s established presence in the global banking sector, RUSD is expected to experience significant growth after its launch. Featured image from Pexels, chart from TradingView

Decentralized blockchain network Bittensor and its native token, TAO, have shown significant upward momentum over the past month, consistently outperforming major cryptocurrencies such as Bitcoin and Ethereum across all time frames.  Designed for decentralized finance (DeFi) applications, TAO has surged past the $400 mark, achieving nearly 45% gains in the last month alone and an impressive 695% increase year-to-date. Analysts are optimistic about the token’s future potential, especially given that TAO reached an all-time high of $757 earlier this year. Many market experts believe that TAO could approach this price level again before the year ends. Keys Behind The Bittensor Price Rally Technical analyst Altcoin Miyagi has commented on the recent price action, noting that Bittensor has quickly moved past liquidity zones and is nearing a key target of $450. He anticipates a brief correction and some volatility before the price continues its ascent towards $600.  Miyagi also highlights the impending “artificial intelligence (AI) season,” which he believes will heighten investor interest in TAO and drive further price appreciation. This optimism is rooted in Bittensor’s goal to develop decentralized AI production. According to Bittensor’s official website, TAO is the decentralized currency that powers the production of AI within subnets. These interconnected subnets facilitate profitable interactions, allowing different AI entities to share and enhance each other’s capabilities.  Related Reading: MicroStrategy’s Bitcoin Stash Exceeds 250,000 BTC Following Half-Billion Dollar Acquisition Supporting this bullish outlook, analyst Dread Bongo emphasizes the transformative impact of AI on various sectors, noting that the pace of change is accelerating rapidly.  The analyst cites innovations from AI startups and established companies alike, including the recent launch of a record-breaking $30 billion fund by asset manager and crypto exchange-traded fund (ETF) issuer BlackRock and Microsoft aimed at bolstering AI infrastructure. Bongo believes that the AI sector, currently ranked #30 on CoinGecko, is significantly undervalued and poised for growth. He predicts that AI within the cryptocurrency space could rival established categories such as Layer 1 protocols, smart contracts, and stablecoins. With this context, Bongo argues that TAO is well-positioned to capture a significant share of the artificial intelligence market, setting the stage for potentially substantial future gains. Analysts Eye $1,000 Target For TAO Currently trading at $415, TAO has experienced a surge of over 43% in the past seven days and a 10% increase in the last 24 hours. Despite this performance, the token remains approximately 45% below its all-time high in April.  Market analyst Crypto Pirates has noted that TAO has recently broken out of a 100-day consolidation period following its recent correction. After peaking, the token experienced a drastic decline, losing over 80% of its value and plummeting to as low as $163 during the broader market crash on August 5.  However, according to Crypto Pirates, this ongoing breakout could signal the beginning of a major upward move for the TAO token. Related Reading: Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? Adding to the bullish sentiment, analyst EyeofCyber has expressed confidence that TAO could reach the $1,000 milestone as early as next week. He emphasizes that Bittensor is at the forefront of decentralized training, stating, “Everyone WANTS $TAO.”  Despite this optimism, market behavior often includes corrections after strong price advances. Pullbacks may occur in the coming days, making it crucial for TAO to hold lower support levels to maintain the current bullish trend and achieve further price gains. Featured image from DALL-E, chart from TradingView.com

At the TOKEN2049 conference, SkyBridge Capital founder Anthony Scaramucci revealed that US Vice President and Democratic nominee Kamala Harris is working alongside industry advocates on her crypto policies before the November elections. Related Reading: Solana (SOL) Flies 12% To Reclaim $140, Is $160 Next? Kamala Harris “Distancing” From Warren And Gensler On Thursday, Anthony Scaramucci claimed to be “working alongside” Kamala Harris to develop her campaign’s crypto policies. SkyBridge Capital’s founder announced at one of the largest crypto events worldwide that the Democratic nominee has been “hearing out” industry proponents. Scaramucci and other undisclosed crypto and Bitcoin advocates have been allegedly pushing the US VP to back industry-friendly policies. These talks have been seemingly “making progress” and “going in the right direction,” he stated at the event. Moreover, the industry advocates working alongside Harris “want to prevent” crypto policies from becoming a partisan issue, aiming for “crypto in the U.S. to have a bipartisan standard unstrained from political and tribal conflicts.” Scaramucci also stated that they are working to “distance” the Democratic Party from figures like Senator Elizabeth Warren and Gary Gensler, who have had a big role in the US’s crackdown on the industry. The Democratic candidate’s stance on the sector has been heavily speculated since she was nominated. Nonetheless, Harris, whose stance remains undisclosed, has been endorsed by several industry figures, including Ripple’s co-founder Chris Larsen and Bitcoin bull Mark Cuban. Who Is The Crypto Industry’s ‘Favorite’ Candidate? At the TOKEN2049 panel, Scaramucci also commented on his feelings about former US president Donald Trump. He applauded the Republican candidate for understanding the industry’s importance, claiming that he has changed the landscape ahead of the elections: Whatever my feelings are about President Trump, I applaud him for understanding how important this industry is for the United States, and I think ironically, he’s pulling the Democrats along into a centrist position on regulation. Trump’s stance has pushed the Biden-Harris administration toward a more industry-friendly approach in the past few months. In a recent interview with CNBC, Cardano’s founder, Charles Hoskinson, also suggested that Trump might be the favorite option from a crypto perspective. To him, the Republican candidate is the clear industry favorite as he has openly embraced the sector, even launching a DeFi project. The community has also launched several Trump-inspired memecoins throughout his campaign, which lead the PolitiFi token sector. Related Reading: Will Bitcoin Break Through $70k? Short-Term Holders’ Buy Price Holds The Key Since the presidential debate on September 10, the US VP has challenged the Republican candidate’s winning odds. Prediction markets like Polymarket show that Harris’s chances of winning surpass Trump’s by 3%, with 51% odds in her favor. Nonetheless, Hoskinson considers that regardless of who wins the election, the world will continue to move toward crypto adoption. “The world, with or without America, is embracing cryptocurrencies,” he stated. As of this writing, Bitcoin, the largest cryptocurrency by market capitalization, is trading at $63,480, an 8% increase in the past week. Featured Image from Unsplash.com, Chart from TradingView.com

Large investors seem to be upping their ante; at least, that’s the story of Bitcoin and its latest rebound to over $63,000 today. And market watchers have indeed taken notice. On the inside, however, is key on-chain data that suggests Bitcoin whale accumulation and the reactivation of dormant wallets may be signs for a super price spike ahead. Related Reading: Cardano Goes Bullish On-Chain: Can ADA Price Catch Up? Ki Young Ju, founder of CryptoQuant, pointed to a rise in Bitcoin flowing into custody wallets, typically used by institutional players for safe, long-term storage. Such an increase indicates that big players position themselves to make what they believe could be another major price move. Whales are accumulating #Bitcoin. Six days of accumulation alerts in a row. Primarily from custody wallet inflows. Nothing has changed for Bitcoin; we’re in the middle of the bull cycle. pic.twitter.com/DE0A1Khhus — Ki Young Ju (@ki_young_ju) September 18, 2024 Dormant Wallets Spring Back To Life The trend in past months has been the revival of dormant Bitcoin wallets. For instance, 203 BTC, valued at $12.18 million, were transferred from wallets that were inactive for more than a year to Binance, earning a whale $6.89 million in profit. The second wallet has been unused for over a decade, with 146 BTC inside. That would total to $8.09 million today. In 2013, it would have only sold for $80,257, which is an astonishing 9,985% rise. Whale Accumulation Signals Long-Term Optimism The accumulation pattern follows the recent Bitcoin price rallies and fuels speculations that whales are waiting for the prices to scale even higher. Ju’s analytical insights raise the notion that institutional investors are not losing faith in Bitcoin’s future even with the volatility since March 2024. The price of bitcoin has risen from a starting point in September at $58,909 to $59,530. Although it did fall briefly on Sept. 6 to the lowest level at $53,940, the strong pressure of whales and institutions buying it pushed the price up. More Gains Expected: Technical Indicators The price for Bitcoin to $63,637 has now indicated impressive potential to push upwards, backed by the technical factors. The near future crossover between the 50-day and the 200-day Exponential Moving Averages point to a more positive trajectory. Also, the RSI currently stands at 46.79, which is still not over the overbought value, meaning that there is a good amount of room left for the price to rise without the market getting too extended. Related Reading: Solana Active Addresses Hit 75 Million As SOL Breaches $140 Inactive Wallets Stir Market Volatility A stabilization of Bitcoin’s price above the key 0.5 Fibonacci retracement level at $57,688.42 gives excellent support to the bullish sentiment. Activation of dormant wallets could also stir the market’s volatility due to a reaction from the increased supply. Crypto asset management firm Ceffu transferred massive Bitcoins and Ethereums to Binance recently, generating speculations about long-term holders selling pressures. Featured image from Pexels, chart from TradingView

In a detailed post on X, crypto analyst Jamie Coutts outlined various indicators he monitors to gauge when the market might pick up bullish momentum. Crypto Market Might Be In The Final Stage Of The Bearish Phase Coutts, Chief Crypto Analyst at the financial knowledge and education platform RealVision, noted that the cryptocurrency market has gradually declined. The top 200 equal-weight index (EWI) shows that the leading 200 cryptocurrencies by market cap have experienced a 55% pullback over the past six months. Despite this downward trajectory, Coutts believes the risk/reward ratio is favorable for adding select digital assets at current levels. Related Reading: Ethereum ETFs Launch About To Kickstart The Altseason? Analysts Weigh In Coutts highlighted the steep surge in the alt season indicator, a data point that measures the degree by which altcoins outperform Bitcoin (BTC). However, this rise is not accompanied by a sustained Bitcoin rally, which requires its price to be above its all-time-high (ATH) value. As a result, the upward-moving altseason indicator may be short-lived. Still, Coutts suspects the market is “in the final throes of the bearish thrust.” The analyst emphasized that even when altcoins outperform BTC in terms of price, investing in them may not always be wise if they are still in a downward trend. Coutts recalled a similar situation in 2022, during the collapse of the FTX exchange. He suggests that the ideal time to invest in altcoins is when they are trending upward not only on the absolute price chart but also on the relative price chart. This Indicator Must Hit 45% For Bull Market To Resume According to Coutts, one key metric to determine whether the market has entered bullish territory is the percentage of digital assets above their 200-day moving average (MA). Currently, only 11% of digital assets are above the 200-day MA. For a bull market to resume, at least 45% of digital assets must be above this level. For the uninitiated, the 200-day MA is a technical analysis indicator that represents the average price of an asset over the past 200 trading days. Traders and analysts use it to identify the long-term trend of an asset, including digital assets like BTC. Related Reading: Altcoins Season: Analyst Predicts 2x Surge Post-Bitcoin Rally Despite the recent market downturn, certain fundamental metrics within the crypto ecosystem, such as daily active users (DAU), daily transactions, and network value-to-fee ratio, have increased in the past six months. Further, daily fees are down 84%, a decrease that can be attributed to the implementation of EIP-4844, which slashed transaction fees for Ethereum (ETH) ecosystem users. Coutts added that a bull market could be on the horizon when prices and fees begin to trend upward together. “We’re not there yet, but prices will lead, and fees will naturally follow,” he noted. As of press time, the total crypto market cap, excluding BTC, is $879.676 billion. Featured image from Unsplash, Charts from x.com and Tradingview.com

Cardano shows mixed signals on the technical indicators, not to mention the on-chain data. Despite bullish trends in the metrics, ADA has been unable to gain significant price momentum. At the time of writing, ADA is trading around $0.34, experiencing a slight 4% dip in the past 24 hours, leaving investors wondering whether it’s the right time to buy or wait. Related Reading: Bitcoin On Track For $92,000 ‘Bounce’ In 3 Months, Analyst Predicts Speaking of positive vibes, Cardano received a strong vote of confidence from the crypto community. In a recent survey conducted by Weiss Crypto, ADA won the title for the altcoin with the best technology, receiving over 76% of the votes. This shows that, despite price struggles, the community still believes in Cardano’s long-term potential. Which #altcoin has the best tech? — Weiss Crypto (@WeissCrypto) September 17, 2024 Bullish On-Chain Signals There’s some hope shown for ADA holders based on on-chain data. Coinglass reports that ADA’s Long/Short Ratio reads at 1.0167, meaning traders are feeling pretty bullish. Futures Open Interest has grown by 3% in the last 24 hours and has been up since the beginning of September 2024. These kinds of signals tend to mean traders are keeping their long positions, which can, by extension, set up the environment for price increases. For ADA, CoinCodex predicts a price rise of 16.53% and $0.405879 on October 19, 2024. On paper, these are fairly optimistic projections; however, the market sentiment and technicals overwhelmingly advise caution. Price Struggles To Gather Steam Despite the bullish data on-chain, ADA hasn’t managed to break out of the current range thus far. Even with the optimism indicated by the Long/Short Ratio and growing Futures Open Interest, ADA’s price is stuck at around $0.33. Further stagnation in this sense can be supported by the bearish sentiments presented within the wider crypto market that also impacts its short-term performance. ADA has been unable to break out from its present range even with the optimistic on-chain statistics. The altcoin’s price stays fixed near $0.33 even with the hope shown in the Long/Short Ratio and growing Futures Open Interest. The pessimistic mood of the larger crypto market, which has depressed its short-term performance, can help to explain this stalemate. Market Sentiment Cautiously Neutral The overall market sentiment remains neutral at 49, based on the Fear & Greed Index, which indicates caution. Where ADA’s price is said to rise in the coming weeks, most analysts are still advising one not to buy the asset yet since better bullish signals need to appear in the market first. Related Reading: SUI Climbs 36% Amid Bullish Breakout – Is $1.50 The Next Target? The recent surge in whale activity could also have a role to play—on September 17, these massive crypto hodlers moved 19.5 billion ADA tokens, worth around $6.48 billion, according to IntoTheBlock. Such large movements often signal upcoming price changes, and investors are watching closely. ADA: Community Confidence And Outlook With mixed technical indicators, the community of Cardano is doing just fine. The Weiss Crypto survey that shows ADA outperforming Ethereum and Solana, among others, suggests the technological base of Cardano is solid. Finally, though the on-chain metrics are bullish regarding Cardano, general market conditions are quite dim. Its short-term movement is pretty limited while there is hope in the community that the altcoin will still be able to prove its mettle as it works its way up the altcoin ladder. Featured image from Swyftx Learn, chart from TradingView

SUI has made some gigantic moves recently, posting strong bullish signals. In the last week, SUI registered an impressive 33% rally, pushing the price up to $1.18 at press time. This is getting people wondering whether the token is preparing for a longer ascent, as many are waiting for key levels that might influence the situation. Related Reading: Bitcoin On Track For $92,000 ‘Bounce’ In 3 Months, Analyst Predicts Price forecast for the altcoin predicts significant increase in the next few months. A strong upswing could propel the SUI to soar by 245% in the following three months. The price chart of SUI shows a sequence of higher highs and lower lows, which confirms this view—textbook evidence of optimistic momentum. SUI has gradually climbed from a low of $0.60 early this year, passing through several resistance zones along the way. Bullish Trend Signals Strength SUI’s price movement indicates that bullish sentiment is gathering steam. The token’s capacity to breach resistance zones points to perhaps more fuel left for the rally. Market observers are closely monitoring the next significant resistance level at $1.2047. Should SUI exceed this barrier, the following targets should lie between $1.50 and $1.80. While the support held high at $1.125, a firmer layer of support is observed at $1.045. The battle is on between the bulls and the bears, but the momentum seems to be on the side of the bulls. What would be the final test is whether they can push SUI past these resistance levels to trigger another round of buying. Volume And Open Interest On The Rise Supporting the bullish outlook is the increase in volume and open interest. Data from Coinglass shows the trading volume of SUI has risen 3.25% to $1.83 billion while open interest is up 11.85% at $331 million. This rising trade volume indicates growing interest in this token,. With the increasing engagement, people seem to have big confidence in the short-term prospects of SUI. With these uptrends, the market sentiment is going strongly on a roll to sustain this rally. Technical signals and trading activities are showing good numbers for SUI bulls. Price Predictions Show Optimism The three-month prediction on price for SUI is quite optimistic. Analysts predict the coin rising 245.86% over the next three months. This would signify a massive rise from its present levels, indicating important momentum to be seen within the market and investors. Further ahead, the six-month projection is estimated to increase by 180.47% while the one-year outlook will hike by 166.62%. Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures These numbers suggest that SUI might continue posting steady gains in the medium and long run, despite being traded at 228% below estimates in the next month, suggesting optimism is still around it. Investors are waiting and on the lookout for when SUI will cross past these key levels, which may unlock and open up better prospects for the future. The coin is drawing further attention as it moves with bullish technical signals coupled with increasing volume and positive price forecasts. It may be about to embark on a protracted rally considering the current position of the token, where it has managed to breach the strong resistance levels of around $0.016. Featured image from Chainwire, chart from TradingView

Synthetix, a popular DeFi protocol, is facing challenges regarding its plans for Arbitrum, a layer-2 platform for Ethereum. According to the recent voting results, the community voted against its plans to extend its Long-Term Incentive Program (LTIP) grant. Arbitrum Holders Vote Against Synthetix Proposal The goal was to support the launch of Multi-Collateral Perps. The feature would have permitted traders to trade using margin with ETH, BTC, and USDx acting as collateral when initiating perpetual futures on Arbitrum via Synthetix perpetuals. Related Reading: LayerZero Surges over 7% As Bulls Ignite Fresh Rally, A $4.5 Breakout Looms? If the Arbitrum community had agreed, it would have allowed Synthetix to distribute 900,000 ARB as trading fee rebates. According to the Synthetix proposal, they intended to incentivize users and, thus, boost the active trading volume of Synthetix on the layer-2 platform. While novel and a net positive for Synthetix, the ARB community deemed the extension, which would have started from September 16 through November 16, unnecessary. Subsequently, 66% of all ARB votes were against this extension, and 9% supported this proposal. Now that ARB holders have rejected the extension, the launch of the Multi-Collateral Perps feature will face delays. For this reason, Synthetix users on Arbitrum would have to wait longer to trade trustless perpetual with the freedom to use various margin assets. At the same time, there are now reduced incentives to engage. Fewer users will be willing to trade on Arbitrum using Synthetix perpetual without the extension. Accordingly, this would negatively impact the DeFi trading portal.   Combining the above, engagement on Arbitrum would be impacted as Synthetix traders, angling for the fee rebates sent from the 900,000 ARB, would withdraw. What’s Next? Will ARB Recover From Record Lows? In the future, it remains to be seen how Synthetix will proceed on Arbitrum, the largest Ethereum layer-2 by trading volume. As it is, the protocol might now have to explore other strategies to incentivize traders and launch the crucial Multi-Collateral Perps feature. Related Reading: FTM Rockets 17% Amid Growing Interest In Fantom Ecosystem Though SNX prices might suffer, ARB might find support now that supply will be lowered. Looking at the daily chart of the ARBUSDT, sellers are in control.   After peaking in January 2024, ARB has been plunging lower, sliding by as much as 80% to spot rates. The token finds itself in critical support. If bears take over, ARB will fall, printing fresh all-time lows. Feature image from iStock, chart from TradingView

Ethereum, the second largest crypto by market cap, is trading at $2,420 after a recent price rally. Ethereum has been up by 3.4% and 6.3% in the past 24 hours and seven days, respectively, which has raised hopes for an extended bullish run. As the price performance continues to unfold, some major developments are taking root, which could pave the way for Ethereum’s price to rally back above the $4,000 mark. Stablecoin Transaction Volume Hits New High Despite the bearish sentiment which has lingered in a 30-day timeframe, on-chain data shows that the Ethereum blockchain continues to witness massive activity, especially in the stablecoin niche. The stablecoin trading volume on the blockchain soared massively in August to break its previous all-time high. Particularly, the stablecoin trading volume reached $1.46 trillion.  This surge in stablecoin activity further solidifies Ethereum’s position as the go-to blockchain platform in the world of DeFi. As stablecoin adoption continues to rise, this could drive up Ethereum revenue due to demand for ETH tokens used to pay transaction fees. This increased utility could, in turn, contribute to its price reaching $4,000 or beyond. Watch Out For The 0.015 Point In Funding Rates Another key factor to watch now for Ethereum is the funding rate. The funding rate is a metric that tracks the cost of holding a long or short position in the perpetual futures market. Funding rates reflect market sentiment, as positive funding rates indicate that longs are paying short positions, suggesting a bullish outlook, while negative rates show a bearish trend. According to on-chain data from CryptoQuant, the Ethereum funding rate is approaching the 0.015 point. As an analyst at CryptoQuant pointed out, the Ethereum funding rate is currently hovering between 0.002 and 0.005. This movement is reminiscent of a pattern in September 2023, when the funding rate was similarly low. Although these figures might appear modest for a typical bull market, a CryptoQuant analyst has noted that this could be the calm before a major upward movement. This is because the funding rates eventually crossed 0.015 in 2023, allowing Ethereum to “surge from the $1,500s to $4,000s.” A similar occurrence could see Ethereum surging massively to $4,000 in the next few months.  Ethereum: Network Growth According to Santiment, the Ethereum network has witnessed massive growth in the past week, recently reaching a four-month high. Apart from its L2 solutions like Optimism and Arbitrum, the platform remains the foundation for decentralized finance (DeFi) and non-fungible tokens (NFTs). This network growth was accompanied by an increase in the creation of wallet addresses and active addresses.  At the time of writing, Ethereum is trading at $2,421. If these factors above align in favor of Ethereum, we could see ETH continue to approach the $4,000 mark. Featured image from StormGain, chart from TradingView

Forecasts concerning the possible Solana (SOL) price explosion abound among market analysts; many eyes are focused on how the performance of Bitcoin will determine the direction of the crypto market, including SOL. Related Reading: Bitcoin To Hit $100K? Investors Believe US Election Won’t Affect Its Rise The House of Crypto, a crypto analyst, has presented a bold prediction linking Solana’s spectacular rally to the expected climb of Bitcoin. Based on his examination, Solana would experience an amazing climb to $920,000 from its present value if Bitcoin soars to $175,000 by 2025, a 685% increase. Solana has a little recovery phase in the near future, trading at 14.62% below its expected value for the next month. Though right now the market appears slow, there is hope for stabilization. With little variation, a sideways trend is predicted for the following seven days. The price forecast for the altcoin, however, points to small gains ahead—a 2.52% rise over the next three months and a notable 116% increase in six months, according to data from CoinCheckup. Though there are short-term difficulties, the road ahead still seems bright. This Time next year… My price predictions of top 26 Trending coins. Am I right? $bitcoin – $175,000 $toncoin – $64$solana – $920$dog – $0.13$icp – $150 $ethereum – $8400$Kaspa – $1.60$xrp – $6.20$pepe – $0.0000258551 $chainlink – $110$sundog – $5$brett – $1.5$tron -… — The House Of Crypto (@HouseOfCrypto3) August 26, 2024 A Bitcoin Price Rally Might Lift Solana To Unprecedented Levels By August 2025, The House of Crypto projects Bitcoin rising to a staggering $175,000—a increase of more than 300% from its present price. Should that occur, Bitcoin’s market capitalization would soar to $3.4 trillion, therefore confirming its supremacy at 57% of the total market. This kind of increase would cause knock-on consequences, drawing up other assets including Solana. Should Bitcoin reach such milestone, Solana should follow with a significant surge to $920. Solana’s market size would be shockingly $432 billion if this rise occurred, significantly higher than Ethereum’s present market worth. Solana is among the top competitors in the crypto field for the upcoming bull market according to this forecast. Although these forecasts are bold, the crypto sector has a track record of showing considerable growth. Solana had an amazing 650% rise in the last year alone; Bitcoin climbed by 125%. This historical background gives some support for Solana’s prediction of exponential price ascent in the next few years. Source: CoinCheckup Related Reading: AAVE Excites Investors With 20% Gain As Developments Roll Out Long-Term Optimism Despite Short-Term Challenges For the short term, the price forecast of Solana remains conservative. Presently, the coin is trading below predictions, and market sentiment is bearish. However, for a prediction going forward, Solana is bound to see an increased growth. In the mid-term forecast, it is estimated to grow about 116.32% in six months, while in a year’s time, the coin is expected to surge by about 50.42%. Solana might have some difficulties, but overall the future is promising especially if Bitcoin sets off a bull run. Although the possibility for large profits connected to the rise in Bitcoin gives investors hope, the erratic crypto market calls for prudence even then. Featured image from Unsplash, chart from TradingView

No matter who wins the US presidential contest this November, the trajectory of Bitcoin seems to be set to remain strong despite growing partisan fervor. Related Reading: AAVE Excites Investors With 20% Gain As Developments Roll Out Market observers and crypto enthusiasts mostly believe that the long-term future of Bitcoin is safe. Former President Donald Trump’s pro-crypto posture inspired recent hope that is starting to wane, although this has not affected the general state of the sector. US Election: Effect On Bitcoin’s Value Although some forecast instantaneous changes in price depending on election outcomes, the longer-term impact on Bitcoin could be negligible. Head of private clients at Swan Bitcoin Steven Lubka thinks, independent of any outcome, Bitcoin might hit six figures by 2025. James Davies of Crypto Valley Exchange also remarked, suggesting that fears about a future Kamala Harris presidency affecting Bitcoin’s price are overblown. He notes that while crypto businesses may struggle, the broader industry will keep growing. With Bitcoin’s growing institutionalization—especially with US Bitcoin ETFs recently added—it is clear that its fundamental ideas are good. Short-Term Variability And Market Vibe The election can cause some temporary fluctuation in the price of Bitcoin. While a Harris victory would trigger a brief downturn, analysts predict that if Trump wins there might be a big price increase. Tyrone Ross of 401 Financial, on the other hand, thinks that the outcome of the election will have only a negligible effect on the performance of Bitcoin within the next year or so. The macroeconomic considerations and present market trends are perhaps more important in determining the price swings of Bitcoin. Having peaked at $73,000 early in the year, Bitcoin has traded between $54,000 and $65,000 for most of 2024. Recent price fluctuations are attributed more to global economic conditions and interest rate changes rather than US election news. Related Reading: Analysts Predict XRP ‘Mega Pump’ And ‘Perpetual Cycle’ – Details Looking Beyond Political Uncertainty Despite all the political noise, bitcoin has proven incredibly resilient. Daniel Cawrey from Tonkeeper says the election has done a great deal to raise awareness for the bitcoin space in earnest. In contrast to the Biden administration, which has largely tried to sweep crypto under the rug, Kamala Harris has tended to interact with industry participants – albeit in a way that at least could bring more clarity to guidelines and regulations. As Cawrey notes, more regulatory clarity resulting from this higher engagement would help the sector. Lubka agrees; Bitcoin has flourished even in adverse surroundings. Despite political and legal obstacles, Bitcoin has shown resilience throughout its history surpassing numerous assets. In essence, Bitcoin’s long-term future is bright even if the US presidential election can cause some transient market reactions. The rising institutional acceptance of cryptocurrencies and more general economic considerations drive them forward and help them to be positioned for success independent of political drama. Featured image from Pexels, chart from TradingView

With the major cryptocurrencies regaining lost ground against the bears, the market has returned to the $2 trillion market cap level. This led to huge gains in the altcoin market as the tokens rode the bullish wave. AAVE is one of the largest gainers this week with a whopping 20% uptick.  Related Reading: BNB Weekly Active Addresses Surge Over 6% – Is A Rally On The Way? This is largely due to the return of bullish sentiment in the market and positive on-chain development which drove speculation for the token. With the upcoming release of the consumer price index (CPI) data today, an optimistic market awaits to jump on the bullish train.  AAVE DAO Eyes New Asset To Deploy On-Chain Yesterday, September 10, Aave Chan Initiative (ACI) released a proposal to the AAVE community to include Coinbase’s cbBTC to Aave v3 on both the Base and the Ethereum Mainnet.  According to the proposal, Coinbase’s entry into the wrapped Bitcoin market brings a “unique value proposition to the Aave ecosystem.” ACI also points out how users of Aave will benefit if the proposal passes. Another addition to the pool of assets Aave supports is better asset diversification for users, giving them solid and reliable options to put their money.  Overall, the addition of cbBTC on Aave is viewed with much enthusiasm, however, some members of the community are hesitant with the current version of the proposal. Midapple expressed concerns about the proposals, specifically about the timing and implications the proposal has. cbBTC was announced almost a month ago with no details about the mechanism behind the coin. With Coinbase’s centralized nature, the  community will have some difficulty protecting the network against possible problems of early adoption like low liquidity. In the case of Coinbase, which is a regulated entity in the United States, regulatory scrutiny will also affect cbBTC in the future and, by extension, the Aave network itself.  As of writing, no further revisions have been made to the proposal.  The Aave DAO just deployed a dedicated @ether_fi market on Aave. Users will now be able borrow stablecoins like $USDC, $pyUSD, and $FRAX against their @ether_fi weETH liquid staking tokens. pic.twitter.com/s3Met9veuU — Aave Labs (@aave) September 9, 2024 Another development on-chain is the deployment of a dedicated Ether.fi market on Aave, introducing liquid restaking on the platform.  According to the thread, the new addition is a glimpse at Aave v4 which has new features like dedicated liquidity instances and risk isolation.  Related Reading: Vitalik Buterin Withdraws 760 ETH As Market Turmoil Strikes Ethereum Possible Correction To Occur Around ~$150 The token’s astonishing drive upward has been due to the market recovery from the early September slump. Currently, AAVE is right between the $147-$157 trading range which might provide the bulls with a strong support level.  However, the token’s bullish momentum is almost spent up, marked by the relative strength index (RSI) indicating that the bulls are somewhat exhausted.  Investors and traders should monitor the token’s movement in the coming days as a correction might push the token below $147 before settling above the latter.  Featured image from StormGain, chart from TradingView

With only a few weeks before Q4 begins, investors and market watchers remain vigilant of the market’s performance. Many expect the next quarter will kickstart the rally’s second leg up, suggesting that most altcoins will explode in the coming months. Several analysts are bullish about the upcoming performances, hinting that the time to accumulate these cryptocurrencies is near its end and that the alt season is near. Related Reading: Crypto Investor Loses $16 Million Amid Friend.tech’s Controversy And Token Crash Investors’ Last Call Before The Altseason Bitcoin (BTC) and Ethereum (ETH) have taken a hit throughout Q3’s market retraces. Since July 1, the flagship cryptocurrency’s price fell more than 10%, while the “King of altcoins” plunged by over 30%. Nonetheless, several altcoins have led the market bounces amid the volatility, displaying a remarkable performance during the shakeouts. Many of the alts have outperformed their BTC pairs, as crypto analyst Michaël van de Poppe stated. Per the post, many technical indicators show that “the Bitcoin pairs of many of the altcoins have been crawling up.” The analyst also considers that BTC and alts have bottomed out and that a market’s next moves will “be great.” Moreover, altcoins’ dominance seems “ready to take the spotlight.” Analyst and trader Titan of Crypto recently noted that Bitcoin dominance “is on the verge of printing a new lower high.” To the analyst, this could trigger the Altseason between Q4 2024 and Q1 2025, which could last until mid-2025. Meanwhile, crypto analyst Alex Clay suggested that investors’ chance to accumulate alts might end soon as “Uptober” approaches. To the analyst, the second correction wave of the Elliot Impulse Wave is over. As a result, cryptocurrencies, excluding BTC and ETH, are ready to begin the third bullish wave. Clay highlighted that the second correction wave displayed a bullish flag pattern. Additionally, he noted that altcoins’ market capitalization has been supported “at the strong confluence of EMA 100 + MA 200 + Key zone.” Based on this, he forecasted the sector’s mid-term target could hit a market capitalization of $1.3 trillion by May 2025 before the fourth wave. Clay also predicted a “conservative” long-term target of a $1.65 trillion market cap for the final impulse wave. Will Altcoins Hit $2 Trillion? Miky Bull highlighted Altcoins’, including ETH, market cap impulse. To the trader, the cryptocurrencies’ market cap is getting ready to break from the bullish flash pattern, potentially targeting a mark above the $1.8 trillion level. Miky previously suggested that the alts chart follows “the 2020 blueprint.” However, he considers they will differentiate by the duration of the re-accumulation phase, as he deems this cycle’s expansion will be “longer and huge.” Related Reading: Analysts Say Bitcoin Will Break $90,000 In Q4 2024 But This Must Happen First Another crypto analyst, Moustache, noted that alts have been in a 2-year-long cup and handle pattern, which is considered extremely bullish. The pattern suggests that altcoins’ market cap will significantly increase from the handle lows. To the trader, if this scenario plays out, alts target a $2.14 trillion market cap by 2025. As of this writing, altcoins sit at a market cap of $558 billion, a 10% decrease since Q3 began. Featured Image from Unsplash.com, Chart from TradingView.com