The post Meme Coins to Watch: BONK, BOME, and MOG Lead the Bull Run with 100% Gain Potential appeared first on Coinpedia Fintech News
The broader market starts early, with Bitcoin preparing a bounceback from the crucial psychological support of $60,000. As meme coins are the bull run torchbearer this year, smart money closely follows trend reversals and the launch of new and trending coins. With the market on the verge of a bull run, the recent surge in …
The post Solana Ecosystem Top Gainers: MICHI, OTK, WEN, DADDY appeared first on Coinpedia Fintech News
Solana network has become the biggest yielder of meme coins in the 2024 crypto season. Currently, the Solana ecosystem is at $212.98 Billion with growth in SOL and major bounces altcoins of the network. This comes after the latest news on Solana ETF Launch anticipation, which has triggered most of the Solana coins. Here Is …
Emomotimi Agama noted that cryptocurrencies like Bitcoin can considerably lower remittance costs, making it easier and cheaper for Nigerians abroad to send money home.
In an analysis provided by CryptoQuant, a significant change in Bitcoin miner behavior has been noted, potentially indicating a turning point. CryptoQuant analyst, known as Crypto Dan, outlined a reduction in miners’ selling pressure, which has historically been a pivotal factor affecting Bitcoin’s price trajectory. Bitcoin Mining Selling Pressure Decreases According to Crypto Dan, “Miners’ selling pressure decreases. One of the whales that have caused the cryptocurrency market to fall recently have been miners.” He explained that the BTC halving, which halved mining rewards, led to a decrease in the use of older, less efficient mining rigs, subsequently reducing overall mining activity. This change forced miners to sell Bitcoin in over-the-counter (OTC) transactions to sustain their operations. The analysis suggests that the market is currently absorbing the sell-off, with a notable decline in the volume and frequency of Bitcoin being transferred out of miners’ wallets. “The current market can be seen as being in the process of digesting this sell-off, and fortunately, the quantity and number of Bitcoins miners are sending out of their wallets has been rapidly decreasing recently,” Crypto Dan stated. Related Reading: BlackRock Global Allocation Fund Reveals Major Bitcoin ETF Stake With 43,000 Shares The implications of this shift are significant. Crypto Dan added, “In other words, the selling pressure of miners is weakening, and if all of their selling volume is absorbed, a situation may be created where the upward rally can continue again.” He projected optimism for the market, predicting positive movements in the third quarter of 2024. Historical data from CryptoQuant corroborates the analysis. BTC has previously shown a similar pattern where miner selling activity exerted a strong influence on market prices, particularly noted from May to September 2023 and from December 2023 to January 2024. During these periods, prolonged sideways movement in BTC prices was observed, aligning with peaks in miner selling. Notably, when these selling activities diminished, Bitcoin prices resumed an upward trend. This pattern suggests that the recent decrease in miner selling could be the precursor to another significant bullish phase for Bitcoin, as market conditions appear ripe for a similar reversal of fortunes. Key Price Level For A Bullish Breakout Further insights from technical analysts at alpha dōjō provide a granular view of the market conditions. Their daily update on Bitcoin through X underscores the current market indecision, characterized by Bitcoin “chopping around” without clear directional movement. However, the analysts have identified critical price levels which could indicate future market movements: “If BTC reclaims the $63.5k area, it would be bullish; if it loses the $60k level, it would be bearish.” Related Reading: Fears Of Bitcoin Sales By US And German Govts Are FUD, Even Bullish: Experts The technical analysis also reveals that the liquidity in the Bitcoin market is currently dispersed, with few substantial clusters of orders. The most notable concentration of orders is around the $63.5k level, suggesting that this price point is pivotal for market sentiment and potential bullish momentum. The order book data provided by alpha dōjō highlights a current dominance of sell orders, indicating a bearish sentiment among traders. Conversely, the bid side is described as weak, with fewer buy orders supporting upward price movements. This imbalance suggests that the market is currently cautious, potentially awaiting more definitive signals before committing to more substantial positions. At press time, BTC traded at $61,704. Featured image created with DALL·E, chart from TradingView.com
Traditional financial institutions are finding new ways to offer investors access to digital assets via exchange-traded funds (ETFs). On June 27, Henry Jim, an ETF Analyst with Bloomberg Intelligence, reported on three ETF products that would provide investors access to Bitcoin, Gold, Ethereum, and MicroStrategy. Stacked Bitcoin and Gold ETF Tidal Investments and Quantify Chaos […]
The post Wall Street blends digital gold Bitcoin with physical gold in new ETF filings appeared first on CryptoSlate.
The post Top Three Altcoins Set to Skyrocket appeared first on Coinpedia Fintech News
Explosive Gains Ahead: There’s growing concern about a potential further decline in Bitcoin’s price. On June 26, Bitcoin’s price fell back to $61,000, further alerting the investors. Analyst Altcoin Buzz took to his latest analysis and asked ‘Are we on the brink of a bigger dump in Bitcoin’s price?’ Meanwhile, he said that three altcoins …
Quick Take The ongoing miner capitulation, driven by a falling Bitcoin price, declining hash rate, and a meager hash price, has significantly impacted publicly traded Bitcoin miners. Despite this challenging environment, public miners have shown resilience post-halving, with a total market cap exceeding $25 billion and WGMI experiencing a 24% rise in June and a […]
The post Public Bitcoin miners diversify into AI as market cap exceeds $25 billion appeared first on CryptoSlate.
The post Bolivia Opens Doors to Cryptocurrency Trading After 4 Years Of Ban appeared first on Coinpedia Fintech News
After four years, the Central Bank of Bolivia has officially reversed its 2020 ban on Bitcoin and other cryptocurrencies. This move, aimed at updating the financial system, acknowledges the growing importance of digital currencies in the global financial ecosystem. By reversing the ban, Bolivia is recognizing the increasing relevance and potential impact of digital assets …
Yield App halts operations, citing losses from FTX exposure, despite previous assurances of no significant impact.
John E. Deaton, a legal expert and advocate of cryptocurrencies, has harshly criticized the United States government for its recent large-scale Bitcoin transfers to San Fransisco-based crypto exchange Coinbase. Deaton, who is well-known for his frank opinions on regulatory matters in the crypto space, has raised worries about the implications of these transfers, questioning the […]
The post Top Solana-based Altcoins To Watch Out Next Week As SOL Price Nears $150 appeared first on Coinpedia Fintech News
Being one of the top-performing altcoins in the past year, the Solana ecosystem has experienced a slowdown over the past few months. Following the breakdown of $150, the SOL price struggles to overcome the psychological mark. However, with a bullish revival this week, the bull run is gaining momentum, and the SOL price may soon …
The post CoinStats Suffers $2 Million Loss in Crypto Hack, CEO Points to Social Engineering Tactics appeared first on Coinpedia Fintech News
On the 22nd of June, CoinStats, a prominent crypto platform experienced a major security threat forcing them to stop all their services temporarily. $2 million worth of digital currency was taken off from some people’s wallets. Through quick intervention by company, the situstion was controlled to prevent more loss. Stealing away $2 million meant that …
Dogwifhat (WIF) is experiencing increased bearish pressure after facing a significant rejection at the $2.13 resistance level. This rejection marks a pivotal moment, pushing the price downward and signaling potential continued losses for the cryptocurrency. Market analysts and investors are closely watching this development, as the inability to break through the $2.13 barrier underscores prevailing selling pressure. As WIF navigates this challenging phase, the focus shifts to identifying the next support levels and understanding the broader market implications of this downward trend. The main objective of this study is to determine whether WIF’s current price action will stabilize at significant resistance levels or continue to decline. Presently, the market capitalization of WIF is over $2 billion, with a trading volume of over $556 million. The cryptocurrency price is currently down by 3.45%, trading at roughly $2.04, while its market cap and trading volume are currently up by 0.44% and 30.66% respectively. Market Analysis: The Impact Of $2.2 Rejection On the 4-hour chart, the price of WIF started a bearish move below the 100-day Simple Moving Average (SMA) after the rejection at $2,2. It can be seen that after the rejection, the price started building momentum before dropping. The 4-hour chart Relative Strength Index (RSI) signals a bearish move for WIF as the signal line of the indicator has started dropping towards the 50% level. Also, WIF’s price on the 1-day chart is currently bearish trading below the 100-SMA. This bearish move, as observed from the chart, started immediately after the price experienced a rejection at $2.2, which is now a resistance level. Furthermore, the 1-day RSI for the price of WIF signals extended bearishness. Since the signal line in this case is still active below 50%, the crypto asset’s price may decline even further. It should be noted that with the formation of WIF’s price actions and that of the RSI indicator, the price of WIF may continue declining toward the $1.47 support level. Where Will WIF Find Stability? As the price of WIF prepares for further decline, there are key support levels it may want to stabilize. If the coin finds stability at the $1.47 support level, it will start to move upward again toward the $2.25 resistance level. A break above this level may trigger WIF to move higher to test the $3.58 resistance level and might move on to test other higher levels. However, if WIF fails to find stability at $1.47 support and breaks below, it will continue to decline towards the $0.71 support level. The crypto asset may pose a further decline toward the $0.26 support if the above-mentioned level is breached. Featured image from YouTube, chart from Tradingview.com
Kraken founder Jesse Powell said he donated $1 million, mainly Ethereum, to support former US President Donald Trump‘s re-election bid. In a June 28 statement, Powell explained that the donation was meant to help the US maintain its leadership in blockchain technology. He said: “I am excited to join other leaders from our community to […]
The post Kraken founder donates $1M in Ethereum to support Trump’s 2024 re-election appeared first on CryptoSlate.
The rally was accompanied by an even-bigger surge in futures open interest.
Exchange coins operate independently on blockchains, whereas exchange tokens represent assets or utilities within specific projects on existing blockchains.
The post T-Rex Group Files for Potentially Most Volatile ETF in U.S. History appeared first on Coinpedia Fintech News
Financial services firm T-Rex Group has filed for a leveraged MicroStrategy (MSTR) exchange-traded fund in the United States. This ETF could potentially be the most volatile ETF ever seen in the country. Read on to learn what experts think about this development and to do an in-depth comparative analysis! What Experts Think About T-Rex Group’s …
The change in regulatory stance marks the end of a ban on crypto use in the country that began in 2014.
Quick Take As of June 28, the final trading day of the quarter, Bitcoin (BTC) has experienced a challenging period, with its value dropping approximately 9% in June. A substantial $6.6 billion worth of options for BTC are set to expire on June 28. Despite hitting its all-time high in March, BTC has struggled over […]
The post Bitcoin suffers 14% decline in Q2, marks first negative quarter since Q3 2023 appeared first on CryptoSlate.
The post Matt Hougan Shares the Timeline for Solana and XRP ETF appeared first on Coinpedia Fintech News
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, expressed a bullish outlook on Bitcoin ETF inflows for the second half of 2024 despite market volatility. He noted that while there is current fear sentiment, historical trends suggest that pullbacks, especially those seen in summer, often present buying opportunities rather than indicators of long-term decline. …
The post Can Decreased Miners’ Selling Pressure Curb Further Bitcoin Price Decline Ahead? appeared first on Coinpedia Fintech News
Bitcoin (BTC) price has continued to consolidate around $61k in the past four days, amid heightened fear of further crypto capitulation. The flagship coin has seen its daily Relative Strength Index (RSI) hover around the oversold level in the past week, thus signaling a possible BTC price rebound. However, the heightened demand for the altcoin …
BTC withdrawals from miner-affiliated wallets have gone from above 50,000 per day to under 10,000 since the halving, data shows.
The lack of retail participation is suspected of dropping Bitcoin wallet activities as celebrity memecoins attract speculators away from more established cryptocurrencies.
The post Crypto Hacks and Scams Surge in Q2, Costing Crypto Industry Over $573 Million appeared first on Coinpedia Fintech News
The second quarter of 2024 was a tumultuous period for the crypto industry. There were 72 incidents where $572.7 million were lost to hacks and scams during this quarter, says the quarterly report from Immunefi. This is an enormous leap from $336.3 million that were lost in the previous quarter marking a whopping 70.3% increase …
Ethereum, the second-largest cryptocurrency by market capitalization, has experienced a significant decline in value recently. Over the past month, its price has dropped by 15%, leading to concerns among investors about the future of this digital asset. The current situation raises questions about whether this downturn signals a prolonged decline or if it is merely a temporary setback before a potential recovery. Related Reading: Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase Despite the price decrease, some analysts remain optimistic about Ethereum’s prospects. Prominent cryptocurrency analyst Yodhha has identified technical patterns that may indicate a forthcoming reversal in Ethereum’s fortunes. Ethereum: Signs Of Potential Reversal? Yodhha’s analysis highlights two key chart formations: the Inverse Head & Shoulders and the Falling Wedge (also known as a Bull Flag). The Inverse Head & Shoulders pattern, a common indicator of a market reversal, suggests that a downtrend may be shifting towards an uptrend. The Falling Wedge pattern, which occurs when the price is temporarily confined within a narrowing range, often precedes a breakout and continuation of an uptrend. $ETH Anytime now… pic.twitter.com/qF4uiWquFI — Yoddha (@CryptoYoddha) June 26, 2024 These technical indicators, along with other markers, suggest that Ethereum may already be on the verge of entering bullish territory. Yodhha’s analysis also identifies specific price levels that, if surpassed, could lead to a significant price increase for Ethereum. Impact Of Regulatory Developments In addition to technical analysis, regulatory developments play a crucial role in the cryptocurrency market. One of the most anticipated events is the potential approval of a spot Ethereum Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission. Industry experts speculate that this approval could come as early as July 4th, a date that could mark a significant milestone for Ethereum. Financial services firm StoneX predicts that the approval of an Ethereum ETF could lead to a substantial increase in the cryptocurrency’s price. According to StoneX, Ethereum could see a price rise of up to 40% within two months following the ETF’s launch. This surge in investor interest could help Ethereum recover from its recent slump and reach new price highs. StoneX’s projections suggest that Ethereum’s price could range from $2,140 to as high as $12,620 over the next two years, even under more conservative scenarios. Related Reading: Chainlink (LINK) To Hit New Highs? Analysts Predict $25 Target Investment Considerations The recent decline in Ethereum’s price may offer a compelling opportunity for investors. With technical indicators suggesting a possible bullish reversal and the potential for significant regulatory developments, Ethereum’s future could be brighter than its current performance suggests. Investors should consider these factors when evaluating their investment strategies in the cryptocurrency market. Featured image from HCA Healthcare Today, chart from TradingView
About $755 million in crypto assets from AltLayer, Arbitrum, Optimism and other projects will be released in July as their vesting period concludes.
Powell said he is supporting the only major pro-crypto party candidate.
The world of Exchange-Traded Funds (ETFs) is about to get a wild new addition: a single product offering investors exposure to both Bitcoin and gold. This brainchild of Tidal Investments and Quantify Chaos Advisors, called the STKD Bitcoin & Gold ETF, takes a novel approach by leveraging both assets for a potentially smoother ride in […]
After the first 2024 presidential debate against presumptive Republican nominee Donald Trump, bettors think there's a 38% chance Biden will drop out.
A fake Phantom wallet app in the Apple Store is reported to drain assets upon account recovery with a private key. Phantom Wallet and Solana users have been alerted to the fraudulent app mimicking the legitimate Phantom Wallet. The fake app, published by Meta Voxify and with poor 1-star reviews, appears as an ad and […]
The post Fake Phantom wallet promoted in iOS AppStore drains users funds appeared first on CryptoSlate.