Bitcoin is now trading in its “longest” consolidation period, but the longer the consolidation, the “larger the expansion,” according to traders.
Bubblemaps’ analysis claims a handful of wallets purchased 30% of the supply of the memecoin DADDY before Andrew Tate promoted it online.
The huge and sudden uptick in Bitcoin whale accumulation came as Bitcoin supply on exchanges fell to its lowest level since December 2021.
Amanda Pritchard, chief executive of the UK's National Health Service, urges lawmakers to address the growing problem of young people becoming addicted to crypto trading, as specialist gambling clinics witness an increase in such cases.
The post Crypto trading addiction has become a public health concern in the UK — NHS appeared first on Crypto Briefing.
Shiba Inu, the second largest meme coin, has been undergoing a sideways price movement in the past 30 days, with an emphasised decline in the past seven days. On-chain data indicates this decline might continue in the short term as selling pressure continues to increase. Some of the major holders of Shiba Inu have lately […]
The post Traders Stack Bitcoin: $91,539 Target Left Untouched & Unchanged for BTC Price Rally! appeared first on Coinpedia Fintech News
The markets do not appear to have overcome the recent pullback as the selling pressure continues to mount in the crypto space. The Bitcoin price is trying hard to sustain above $67,000, as a drop below these regions may alert the bears. In the meantime, the whales and the traders appear to have been utilising …
The post Terra Tokens Make A Move! LUNC And LUNA Tokens To Surge Amid SEC Settlement? appeared first on Coinpedia Fintech News
Following the positive outcome of the 5th U.S. CPI data release yesterday, the crypto market experienced a strong bullish reversal with the market leader, Bitcoin price, adding approximately 5% to its portfolio. On the other hand, following the settlement news of Terra Labs and Do Kwon with the SEC, Terra tokens experienced strong bullish price …
UNI price started a fresh increase above the $9.50 resistance. Uniswap is showing positive signs and might eye more upsides above the $10.00 resistance. UNI started a fresh increase above the $9.50 resistance zone. The price is trading above $9.60 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance near $10.15 on the hourly chart of the UNI/USD pair (data source from Kraken). The pair might aim for more upside if there is a clear move above the $10.20 resistance. UNI Price Holds Support After forming a base above the $8.75 level, Uniswap started a fresh increase like Bitcoin and Ethereum. UNI price gained pace for a move above the $9.20 and $9.50 resistance levels. The price even cleared the $10.00 resistance zone. A high was formed at $10.32 before the price started a downside correction. There was a drop below the $10.00 level and the 23.6% Fib retracement level of the upward move from the $8.72 swing low to the $10.32 high. UNI is still trading above $9.50 and the 100-hourly simple moving average. Immediate resistance is near the $10.00 level. The next key resistance is near the $10.20 level. There is also a key bearish trend line forming with resistance near $10.15 on the hourly chart of the UNI/USD pair. A close above the $10.20 level could open the doors for more gains in the near term. The next key resistance could be near $10.65, above which the bulls are likely to aim a test of the $11.50 level. Any more gains might send UNI toward $12.00. Are Dips Limited In Uniswap? If UNI price fails to climb above $10.00 or $10.20, it could slowly move down. The first major support is near the $9.50 level or the 50% Fib retracement level of the upward move from the $8.72 swing low to the $10.32 high. The next major support is near the $9.35 level. A downside break below the $9.35 support might open the doors for a push toward $9.00. Technical Indicators Hourly MACD – The MACD for UNI/USD is losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for UNI/USD is above the 50 level. Major Support Levels – $9.50, $9.35, and $9.00. Major Resistance Levels – $10.00, $10.20, and $10.65.
The post Top three low-cap ‘altcoin gems’ to stack right now appeared first on Coinpedia Fintech News
The crypto market is currently shaky, with Bitcoin trading sideways and altcoins significantly down. Amid these uncertain times, analyst Altcoin Buzz has put together three altcoins which have outperformed their peers. He said that the analysis comes from the Altcoin Buzz Alpha Team, combined with current industry trends. Here’s the list of coins: Coin 1: …
Peer-to-peer payments company and stablecoin (USDC) issuer Circle has announced its integration with the Solana (SOL) blockchain, bringing several important new features to its Web3 services. According to Wednesday’s announcement, the strategic move will enable Circle to offer programmable wallets and gas stations and allow developers and businesses to build and launch on-chain applications. Advantages […]
TON has seen more daily active addresses than Ethereum in 10 of the last 11 days — however, that figure doesn’t include Ethereum layer 2s.
The post Fed Keeps Rates Unchanged at 5.25%, Defying Market Expectations appeared first on Coinpedia Fintech News
The Federal Reserve announced on Wednesday that it would keep its key interest rate unchanged at 5.25% after a recent rise in inflation. However, this decision doesn’t align with the market expectations, which expected more significant cuts. The Fed has reduced its forecast from three rate cuts to just one rate cut in this year …
XRP price failed to recover above the $0.50 resistance zone. The price is again moving lower and there is risk of more downsides below $0.4840. XRP is still showing bearish signs and struggled near $0.50. The price is now trading below $0.4920 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with resistance at $0.4950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could recover, but the bears might be active near the $0.4950 resistance. XRP Price Dips XRP price failed to recover above the $0.50 resistance like Ethereum and Bitcoin. The price peaked near the $0.4981 level and recently started another decline. There was a move below the $0.4980 and $0.4950 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.4701 swing low to the $0.4981 high. It is now trading below $0.4920 and the 100-hourly Simple Moving Average. The bulls are now active near the $0.4840 support and the 50% Fib retracement level of the upward move from the $0.4701 swing low to the $0.4981 high. On the upside, the price is facing resistance near the $0.4920 level. The first key resistance is near $0.4950. There is also a key contracting triangle forming with resistance at $0.4950 on the hourly chart of the XRP/USD pair. The next major resistance is near the $0.50 level. A close above the $0.50 resistance zone could send the price higher. The next key resistance is near $0.5050. If there is a close above the $0.5050 resistance level, there could be a steady increase toward the $0.5250 resistance. Any more gains might send the price toward the $0.5320 resistance. More Losses? If XRP fails to clear the $0.4950 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4840 level. The next major support is at $0.4765. If there is a downside break and a close below the $0.4765 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4550 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.4840 and $0.4765. Major Resistance Levels – $0.4950 and $0.5000.
The post Ripple Unveils RLUSD: A New Stablecoin on XRPL and Ethereum appeared first on Coinpedia Fintech News
Ripple has officially introduced its upcoming stablecoin, which will be named Ripple USD (RLUSD), a significant milestone in its strategic expansion. This announcement comes following enthusiastic speculation and teases from the crypto community. RLUSD is supported 1:1 by U.S. dollars, and aims to provide its users a stable as well as a transparent store of …
Pseudonymous analyst CryptoCon is confident Bitcoin will surge 25% above current all-time highs — its next big “step” before cracking the cycle’s top of $123,982.
Data shows that Bitcoin active addresses have plunged, but the transaction count has been around an all-time high (ATH). Here’s why this may be so. Bitcoin Active Addresses And Transaction Count Have Diverged Recently According to the latest weekly report from Glassnode, the Bitcoin network has been showing a divergence in its activity-related metrics recently. […]
Ethereum price failed to clear the $3,650 resistance. ETH declined again after the Fed decision and now shows bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,580 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,600 resistance zone. Ethereum Price Dips Again Ethereum price attempted a recovery wave above the $3,550 and $3,580 resistance levels. However, ETH failed to settle above the $3,650 level and started another decline. There was a steady decline below the $3,580 level, like Bitcoin. The price declined below the $3,550 support level. There was a move below the 61.8% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high. Ethereum is now trading below $3,550 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH/USD. If there is a fresh increase, the price might face resistance near the $3,580 level. The first major resistance is near the $3,600 level and the trend line. An upside break above the $3,600 resistance might send the price higher. The next key resistance sits at $3,650, above which the price might gain traction and rise toward the $3,720 level. A clear move above the $3,720 level might call for a test of the $3,800 resistance. Any more gains could send Ether toward the $3,880 resistance zone. More Downsides In ETH? If Ethereum fails to clear the $3,600 resistance, it could continue to move down. Initial support on the downside is near $3,480 and the 76.4% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high. The next major support is near the $3,420 zone. A clear move below the $3,420 support might push the price toward $3,320. Any more losses might send the price toward the $3,250 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,420 Major Resistance Level – $3,600
Solana-based altcoins and artificial intelligence (AI)-based coins have seen a surge in investment and price appreciation in recent months. Among the notable winners is io.net’s native token IO, which surged above the $5 mark and saw a substantial 50% increase within hours of a major listing announcement. What Drives Investor Interest In io.net? The world’s largest cryptocurrency exchange, Binance, revealed that io.net would be added to various platforms, including Binance Simple Earn, Binance Convert, Binance Margin, Binance Futures, and Binance Auto-Invest. Related Reading: Bullish News: Top Analyst Forecasts Altcoin Bottom Today, Market Poised For Upswing – Here’s Why This listing news sent IO to a record high of $5.99, making it one of the top gainers among Solana-based tokens. However, the recent surge in IO’s price and investor interest begs the question: What is io.net, and why are investors flocking to this token? At its core, io.net aims to establish a globally accessible and decentralized cloud computing network. This network reportedly provides affordable, flexible, and permissionless access to compute capacity, specifically targeting the increasing demand for GPU power driven by the rapid growth of AI applications. One of the main propositions of io.net lies in addressing the challenges faced by traditional cloud computing infrastructure, including high costs, limited availability, and long wait times. io.net tackles these issues by aggregating GPUs from underutilized sources such as independent data centers and idle crypto mining farms. By leveraging these resources, io.net offers computing power at significantly reduced costs—up to 90% less than centralized providers. IO Token Sales And Economics io.net leverages distributed computing libraries to facilitate parallel training. Training models on a single device often leads to bottlenecks due to CPU/GPU memory limitations. However, io.net overcomes this challenge by orchestrating and batch-training jobs across multiple devices, using data and model parallelism to improve training efficiency. Additionally, io.net supports reinforcement learning (RL) workloads by employing an open-source RL library. This feature easily enables the development and deployment of complex RL models, utilizing a simple set of application programming interfaces (APIs). Regarding token sales and economics, io.net has a strategy to ensure the steady and controlled distribution of tokens, promoting long-term stability and growth of the ecosystem. The initial circulating supply upon listing on Binance is 95,000,000 IO tokens, accounting for 19.00% of the Genesis supply. The maximum token supply is 800,000,000 IO tokens, with allocations for private sales, public launch, team and advisors, and ecosystem treasury. Solana-Based Tokens Performance When writing, the Solana-based token IO is trading at $5.67. It remains to be seen if the current uptrend will be sustained over time after the initial hype surrounding the Binance listing. Notably, the token has quickly reached a market capitalization of $543 million, indicating a significant influx of investment into the newly launched IO token. Related Reading: Ex-Ripple Director Explains XRP Price Slide Amid Good News Alongside IO, another Solana-based token, dogwifhat (WIF), has also experienced a recovery after a sharp correction in the past week. WIF has regained the $2.68 level and recorded a 6% uptrend in the last 24 hours. In the case of Solana itself, the cryptocurrency is currently trading at $156, reflecting a 5.5% increase within the 24-hour timeframe. However, the fifth largest cryptocurrency in market capitalization, over $72 billion, has experienced a price decline of nearly 10% over the past seven days. Featured image from DALL-E, chart from TradingView.com
Bitcoin price started a strong increase above $68,500. BTC even tested $70,000, but post-fed there was a major bearish reaction. Bitcoin started another decline from the $70,000 resistance zone. The price is trading below $68,550 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover but the upsides might be limited above the $68,550 level. Bitcoin Price Dips Again Bitcoin price started a steady increase above the $68,500 resistance zone. BTC even cleared the $69,200 resistance zone. However, after the Fed kept the rates at 5.5%, there was a strong bearish reaction. The price dipped below the $68,800 and $68,500 levels. The price tested the $67,200 zone. A low was formed at $67,148 and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $69,969 swing high to the $67,148 low. Bitcoin is now trading below $68,800 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $68,250 level. The first major resistance could be $68,550 and the 50% Fib retracement level of the downward move from the $69,969 swing high to the $67,148 low. The next key resistance could be $69,200. A clear move above the $69,200 resistance might send the price higher. In the stated case, the price could rise and test the $70,000 resistance. Any more gains might send BTC toward the $71,200 resistance in the near term. More Losses In BTC? If Bitcoin fails to climb above the $68,550 resistance zone, it could start another decline. Immediate support on the downside is near the $67,200 level. The first major support is $67,000. The next support is now forming near $66,000. Any more losses might send the price toward the $65,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $67,000, followed by $66,000. Major Resistance Levels – $68,550, and $69,200.
NHS boss Amanda Pritchard called for action, saying specialist clinics are seeing a rise in young people with crypto trading addictions.
The post FED Keeps Rate at 5.3%, Signals One Cut Despite Lower Inflation appeared first on Coinpedia Fintech News
Federal Reserve officials revealed on Wednesday that inflation has moved closer to their target level in recent months. However, they indicated that they expect to cut their benchmark interest rate only once this year. This forecast is down from their previous projection of three rate cuts, due to inflation persistently remaining above their target level. …
Toronto, Canada, 13th June 2024, GamingWire
The post Fortune 100 Companies Increase Blockchain Projects by 39% in 2024 appeared first on Coinpedia Fintech News
A recent Coinbase survey shows that 56% of Fortune 500 executives are testing on-chain projects. According to the report, blockchain projects announced by Fortune 100 companies increased by 39% year-on-year, hitting an all-time high in Q1 2024. Major drivers of this trend were spot Bitcoin ETFs, tokenization, and stablecoins. The approval of spot BTC ETFs …
A crypto pundit has declared that Dogecoin (DOGE) and Solana (SOL) have reached their “make it or break it levels.” This assessment is set to generate a wave of optimism as DOGE and SOL could be getting ready for a rebound soon. Dogecoin And Solana At Make It Or Break It Point A Crypto analyst […]
The post DADDY Token Surges 450% After Andrew Tate’s Endorsement appeared first on Coinpedia Fintech News
Andrew Tate recently endorsed a new meme coin, leading to a surge in its value. The latest token he promoted, DADDY, skyrocketed past a $275 million market cap. However, on-chain analysts are alleging major insider activity behind its surge. Tate’s tweet about the DADDY token has resulted in the Solana token rising over 450%, reaching …
SANTA CLARA, California, 13th June 2024, GamingWire
Ethereum’s Zero-Knowledge (ZK) Layer-2 scaling solution, zkSync, is facing backlash from the crypto community after its recent ZK token airdrop announcement. Community members have expressed concerns about the lack of anti-Sybil filtering and the “unfair” token distribution. Related Reading: Solana-Based DePIN Project CEO Steps Down Ahead Of Token Launch ZkSync Faces Backlash On Tuesday, zkSync […]
Fidelity’s Director of Global Macro, Jurrien Timmer, recently commented on the debate over whether Bitcoin or gold is a more reliable store of value, outlining scenarios for when each of these asset classes is or is not able to hedge against inflation based on the economic environment. The Theory Of Money Supply And Asset Valuation […]
Stablecoin issuer Paxos downsized its workforce by 20% despite robust finances and optimistic growth projections in the stablecoin market, Bloomberg reported on June 12. In an email that notified employees of the change, Paxos CEO Charles Cascarilla said the staff reduction will allow the company to “best execute on the massive opportunity ahead in tokenization […]
The post Paxos cuts 20% of workforce amid strong financials due to ‘de-prioritizing adjacencies’ appeared first on CryptoSlate.
The biggest winners on June 12 were TeraWulf, Hut 8 Mining and Core Scientific.