A crypto analyst has boldly predicted a significant price breakout for the XRP price, setting a target as high as $7.5 despite the cryptocurrency trading below $1 presently. While this projection may seem ambitious, if realized, it would mark new all-time highs for XRP, decisively ending the cryptocurrency’s years-long downward trend. XRP’s Roadmap To $7.5 […]
Toncoin (TON), the native token of The Open Network, experienced a 12% price drop from its recent all-time high of $7.76 over the past week, following the overall market correction led by Bitcoin (BTC). However, despite the temporary setback, the optimistic sentiment surrounding TON and its network has led crypto analysts to speculate on a potential continuation of the halted uptrend, with some even predicting a surge beyond the current record levels toward double-digit territory. Setting The Stage For $10 Price Target Crypto analysis firm Delphi Digital made an intriguing observation, noting that TON’s daily active addresses have surpassed those of Ethereum (ETH) for the first time. Related Reading: Blood In The Water? Ethereum Whales Circle As Price Drops This surge in activity is attributed to the substantial 900 million user base of Telegram, the social media platform behind TON. Delphi Digital recognizes that TON’s success hinges on leveraging Telegram’s distribution capabilities. In a recent social media post, renowned crypto and decentralized finance (DeFi) analyst known as “Crypto King” recommended newcomers to explore TON, highlighting its super-fast and user-friendly blockchain infrastructure. The analyst also emphasized the credibility of TON’s development team, which is the same team behind Telegram. Crypto King believes TON could experience a significant price spike, potentially reaching as high as $10 in the coming weeks. Market expert Alex Clay shares a similar viewpoint, noting that despite the market downturn, TON maintains its bullish structure and is poised for double-digit gains. According to Clay, TON is on track to reach $10, with the potential for short-term targets of $10.5 and $11.6. Clay also mentions the presence of a Daily Cup & Handle pattern, further bolstering the positive outlook for TON. Toncoin Price Dips Despite Favorable Market Metrics Token Terminal data reveals notable figures for TON’s blockchain by examining key metrics that indicate bullishness over the long term. The fully diluted market cap has seen a 3.6% increase over the past 30 days. However, trading volume for the token has decreased by 11.6% over the same period. On the other hand, the number of token holders has witnessed a significant surge of 76.3%. In terms of revenue and fees, there have been positive increases of 26.0% and 26.0% respectively over the past 30 days. Interestingly, the active user base on TON’s network has skyrocketed by an impressive 245.1%, with approximately 5.42 million monthly active users. Related Reading: Bitcoin Price Crashes Below $67,000: Key Reasons Despite the positive growth seen in various metrics over the past 30 days, Toncoin has experienced a 3% decrease in price during the same timeframe, resulting in a current trading price of $6.82. In the short term, bullish investors will need to closely monitor the nearest support level at $6.80, effectively preventing the token from further declining to lower levels. Conversely, the nearest resistance level is $7.53, representing the last obstacle before a potential retest of Toncoin’s all-time high. Featured image from DALL-E, chart from TradingView.com
A $644 million funding round triples the Microsoft-backed French AI startup’s valuation and will fuel development of both its proprietary and open-source AI models.
Cboe Vice President and Global Head of ETF Listings Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely until the market and regulatory landscape changes. Marrocco said during an ETF Store podcast on June 11 that market expectations of a Solana (SOL) and XRP spot ETF are unrealistic in the short term since these […]
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After two days of rough declines, GameStop (GME) shares shot up Tuesday—and influencer Roaring Kitty poked fun at his recent paper losses.
Cash-and-carry arbitrage strategies are impacting US Spot ETF inflows and the broader ETF market dynamics in our latest analysis.
The post Bitcoin potential upside muted by hedge funds shorting futures, Glassnode reports appeared first on Crypto Briefing.
Stablecoin issuer Tether and its investment arm, Tether Investments, have revealed their intention to allocate more than $1 billion to various investment opportunities over the next 12 months. According to a Bloomberg report, Paolo Ardoino, Chief Executive Officer behind the USDT stablecoin, shared insights into the company’s next investment strategies and areas of focus in […]
Attendees of the 2024 Oslo Freedom Forum were united in addressing the threat that central bank digital currencies (CBDCs) pose to freedom around the globe.
The decentralized autonomous organization claimed Shkreli’s livestream of a one-of-a-kind Wu-Tang Clan album owned by the DAO caused undue damage.
Crypto analyst Dippy has laid a bullish narrative for the Bitcoin future trajectory, suggesting that the flagship crypto could soon hit a new all-time high (ATH). This comes despite Bitcoin’s recent drop below $68,000. Bitcoin Could Experience A Massive Pump Above $73,000 Dippy suggested in an X (formerly Twitter) post that Bitcoin could enjoy a price pump once it reaches the liquidity zone around $73,000. He noted that many short traders have their stop losses or liquidation levels around that price level, which could be the catalyst for this price pump since liquidations of short positions can easily flush out the bears. Related Reading: Arbitrum DAO Agrees To Distribute $216 Million In Funding – Here’s What You Should Know The crypto analyst also outlined another scenario that could play out, which presents a bearish outlook for Bitcoin. He claimed that Bitcoin’s surge to this liquidity zone could be a fakeout to take liquidity and then move down again. However, Bitcoin experiencing that pump once it hits $73,000 looks more likely, considering that crypto analyst James Check labeled the $73,000 price level as where Bitcoin could enter an escape velocity phase. Crypto analyst Adrian Zduńczyk also suggested that Bitcoin would likely turn that $73,000 zone into support if it climbed to that level. He noted that Bitcoin has continued to consolidate inside its current ATH area for 14 weeks now, which is significant considering that this was an area where it had shown weakness before. Zduńczyk claims this is a “trend-promoting behavior” as resistance becomes the new support, and Bitcoin will continue to go higher. Meanwhile, crypto analyst Mikybull Crypto suggested that Bitcoin’s long-term consolidation in this range might be good, stating that the “longer the consolidation, the higher it moves when it breaks out.” He also remarked that Bitcoin’s bullish divergence also indicates “strong strength” for the flagship crypto. Mikybull Crypto expects Bitcoin to rise to $85,000 and then $110,000 when this long-awaited breakout happens. Crypto analyst Rekt Capital also noted that it is only a matter of time before the breakout happens. He had previously stated that a successful breakout for Bitcoin above the $70,000 range would send it into the ‘parabolic uptrend’ phase of this market cycle. Why BTC Dropped Below $68,000 Bitcoin dropped below $68,000 following the significant outflows the US Spot Bitcoin ETFs recorded on June 10. Data from Farside Investors shows these funds saw a cumulative total of $64.9 million in outflows, the first time these Spot Bitcoin ETFs recorded daily outflows since May 23. Related Reading: Crypto Analyst Predicts XRP Price Will Rally 50,000% To $250, Here’s When Investors are believed to be waiting on the sidelines ahead of the US Consumer Price Index (CPI) inflation data and the US Federal Reserve interest rate decision on June 12. A lot of volatility is expected in the crypto market ahead of these events, which could determine the future trajectory of crypto assets. Featured image created with Dall.E, chart from Tradingview.com
Unlike Bitcoin, where transactions are ordered on a first-come, first-served basis, Ethereum and Solana rely on a pool of validators to confirm transactions and add them to the next block. This process allows for flexibility, as users can expedite their transactions by paying higher fees. At the protocol level, prioritizing transactions based on gas fees […]
Billionaire investor Bill Miller IV, Chairman and CIO of Miller Value Partners, reiterated his unwavering belief in Bitcoin in a June 11 blog post titled “Why I’m Still Betting on Bitcoin.” Despite Bitcoin’s significant gains against fiat currencies, Miller argued that the flagship crypto remains vastly “undervalued” and predicts a major shift in global capital […]
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Ethereum price has had a rocky week and data suggests that more downside could be on the way.
SOL derivatives and the Solana network have remained stable, indicating that traders and users are not ready to give up.
Bitcoin has recently been spotlighted due to an intriguing buy signal identified on its hourly chart. This indication emerges amidst a notable fluctuation in Bitcoin’s price, setting the stage for potential short-term gains. Renowned crypto analyst Ali has highlighted a significant development on the hourly chart of Bitcoin, specifically noting a ‘buy signal’ detected by the TD Sequential indicator. This technical tool, developed by Tom DeMark, is respected for its ability to predict price reversals by analyzing exhaustion points in trends. Related Reading: Buckle Up: Bitcoin’s Ride to $74K Could Start Any Minute – Here’s Why Decoding The TD Sequential Indicator On Bitcoin Chart The TD Sequential operates in two main phases: the setup and the countdown. The setup phase requires nine consecutive price bars closing progressively higher or lower, depending on the trend’s direction. Following a successful setup, the countdown phase begins, searching for a sequence of 13 bars that continue the trend but must close beyond the high or low of two bars prior. Completing this countdown typically signals an exhausted trend, poised for a reversal. Bitcoin’s hourly chart shows the completion of this pattern, suggesting an imminent uptick over the next few hours. The TD Sequential presents a buy signal on the #Bitcoin hourly chart, predicting a potential rebound of one to four candlesticks for $BTC! pic.twitter.com/pnAMFHHbPe — Ali (@ali_charts) June 11, 2024 This technical prognosis arrives as Bitcoin contends with downward pressure, recently dipping below $67,000, a price level not seen since late May. Currently, Bitcoin is trading at $66,855, marking a 3.7% decline, which has sparked widespread commentary among investors and analysts. Buy The Dip, Says Mow Samson Mow, the CEO of Jan3 and a notable Bitcoin advocate, recently stirred the Bitcoin community with a post on his X account that included an optimistic forecast for Bitcoin’s price. Revisiting his earlier post, he added a highly optimistic prediction that Bitcoin could reach as high as $1 million per BTC. In his post, Mow used a visual diagram to compare the current available capital in the market with the amount of Bitcoin available and potentially mine-able in the future. The illustration did not specify quantities but effectively showed the small amount of Bitcoin available relative to the vast amount of capital that could potentially purchase it. The diagram, designed as overlapping triangles resembling an hourglass, emphasized the scarcity of Bitcoin in comparison to available capital. Related Reading: Bitcoin’s Stubborn Stand Below $100K: What’s Holding It Back? Mow’s post highlighted his perspective on the ongoing price dip, suggesting that despite the drop, the fundamental outlook for Bitcoin remains strong due to its limited supply and growing adoption. He use the term “BTFD” – “buy the f**king dip” – to suggest a bullish outlook. Feels weird seeing #Bitcoin price go down when we’re at a level of unprecedented adoption. BTFD! — Samson Mow (@Excellion) June 11, 2024 Featured image created with DALL-E, Chart from TradingView
In a shocking turn of events that has stirred the tech and crypto communities, business mogul and the Chief Executive Officer (CEO) of SpaceX and Tesla, Elon Musk has issued a stark warning to tech company Apple, threatening to forbid Tesla from using Apple devices if the tech giant integrates OpenAI into its operating system. […]
The post Ethereum Faces Accumulation as Netflow Turns Negative: What’s Next for ETH Price? appeared first on Coinpedia Fintech News
The $4,000 level for ETH price now seems like a distant dream. Ether has remained below its key resistance channels for the last few days, even with the upcoming launch of its spot exchange-traded funds (ETFs) in the United States. Some believe the absence of bullish momentum for ETH comes from uncertainty about the regulator’s …
Tether Holdings plans to invest over $1 billion in tech and biotech startups, expanding its influence in alternative financial infrastructure.
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After months of proceedings, Robert Gronkowski, Victor Oladipo and Landon Cassill may see the light at the end of the tunnel for a lawsuit involving promoting Voyager Digital.
The three tokens set to become one are down over 20% for the week, along with much of the crypto market.
In May, the partners launched the first yield-bearing BTC ETP in Scandinavia.
The planned merger of Fetch.ai (FET), SingluarityNET (AGIX), and Ocean Protocol (OCEAN) into Artificial Superintelligence Alliance (ASI) has been postponed to July 15. In March, the three networks announced intentions to unify their tokens into the ASI token, with a total supply of 2.63055 billion tokens. The move aims to establish ASI as the AI industry’s […]
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Crypto infrastructure could help address one of the biggest challenges in open source generative AI, says Jesus Rodriguez.
Bitcoin has observed a plunge during the past day, taking the asset’s price under $67,000. Here’s the historical support level that the asset could visit next. Bitcoin Is Now Not Far From The Short-Term Holder Realized Price As analyst James Van Straten pointed out in a post on X, the Realized Price of the Bitcoin Short-Term Holders has been going up recently and currently sits around the $64,000 level. The “Realized Price” here refers to an on-chain metric that keeps track of the cost basis of the average investor in the BTC market. This indicator is based on the “Realized Cap” model for the cryptocurrency. Related Reading: Litecoin In Uphill Battle: Strong Resistance Might Block Recovery When the asset’s spot price is greater than the Realized Price, it means the investors are carrying some net unrealized profits right now. On the other hand, the coin’s value under the metric suggests the dominance of losses in the market. In the context of the current topic, the Realized Price of a specific sector segment is of interest: the Short-Term Holders (STHs). The STHs include all the investors who bought their coins within the past 155 days. Here is a chart that shows the trend in the Realized Price of the Bitcoin STHs over the last few years: As displayed in the above graph, the Bitcoin STH Realized Price rapidly climbed during the rally towards the all-time high price (ATH) earlier in the year. This trend naturally makes sense, as the STHs represent the new investors in the market, who would have had to buy at higher prices as the asset climbed up, thus pushing the cohort’s average up. Since BTC’s consolidation phase following the March ATH, the indicator’s uptrend has slowed, but its value is increasing nonetheless. After the latest increase, the metric has approached $64,000. Now, what significance does the Realized Price of the STHs have? Historically, this indicator has taken turns acting as a major support and resistance line for the cryptocurrency. During bullish periods, this metric can facilitate bottom formations for the cryptocurrency, thus keeping it above itself, while bearish trends generally witness the line acting as a barrier preventing the coin from escaping above it. Transitions beyond this level have generally reflected a flip trend for the coin. This apparent pattern has held up likely because the STHs, being the relatively inexperienced hands, can be quite reactive. The cost basis is an important level for any investor, but this cohort, in particular, can be more likely to panic when a retest of their cost basis takes place. When the sentiment in the market is bullish, the STHs could decide to buy more when the price drops to their average cost basis, believing the drawdown to be merely a “dip” opportunity. In bearish phases, though, they may react to such a retest by panic selling instead. Related Reading: Bitcoin Could See Next Top At $89,200, Crypto Analyst Suggests The chart shows that Bitcoin found support around this line during the crash at the end of April/start of May, potentially implying a bullish sentiment has continued to be dominant. With BTC seeing a drop below $67,000 in the past day and the STH Realized Price closing in at $64,000, it will be interesting to see how a potential retest would play out this time. BTC Price At the time of writing, Bitcoin is trading at around $66,800, down over 3% in the past week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
The Cardano Chang hard fork is finally within reach, promising historic changes for the blockchain. Cardano founder, Charles Hoskinson, has teased significant updates and major changes set to take place for ADA. Cardano To Record Historic Moment With Chang Hard Fork In an X (formerly Twitter) post on June 9, Hoskinson announced the imminent release […]
Jack McDonald will remain CEO of Standard Custody while also serving in his new role as senior vice president of stablecoins at Ripple.
The EU Innovation Hub for Internal Security has released its first comprehensive report on encryption, focusing significantly on crypto-related issues. The report, a collaboration between Europol, Eurojust, and other EU agencies, delves into how cryptocurrencies are impacting law enforcement efforts. It highlights the significant gaps in law enforcement’s ability to track and recover illicit digital […]
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Institutional investors have been accumulating Ethereum at a rapid pace after the SEC’s recent approval of Spot Ethereum ETFs. Crypto analyst Ali Martinez noted that this accumulation trend has created buying pressure that could be the much-needed catalyst for Ethereum to break above the $4,000 price mark. According to a social media post by Ali Martinez, the number of Ethereum addresses holding over 10,000 ETH tokens has increased by 3% in the last three weeks, showing a positive trend among large investors. Whales Accumulating Pushes Ethereum Buying Pressure Speculation over ETF approvals and increasing institutional buy-in have helped fuel Ethereum’s price increase earlier this year. The first price surge occurred in February when multiple reports came out of the SEC potentially approving Spot Ethereum ETF applications after the approval of Spot Bitcoin ETFs. Related Reading: Major Bitcoin Metric Breaks 3-Month Downtrend Amid Bullish Network Recovery This saw the price of Ethereum surging over 83% throughout the month to reach above $4,000 again for the first time since 2021. Similarly, court rulings in May, which increased the odds of Spot Ethereum ETF approval, pushed the price of ETH above $3,000 again. Now that the SEC has finally approved these spot ETF applications, institutional investors are taking the chance to load up their portfolios with Ethereum. According to Glassnode data, this accumulation, which has been going on for the past three weeks, has pushed the number of wallets holding over 10,000 ETH past 975 and steadily approaching 1,000 addresses. Furthermore, data shows that the number of ETH mega-whale addresses has steadily increased in the past 30 days, with the recent metric showing an addition of 15 whale addresses. The number of #Ethereum addresses holding 10,000+ $ETH has increased by 3% in the last three weeks, signaling an important spike in buying pressure! pic.twitter.com/7qq5HgGP37 — Ali (@ali_charts) June 9, 2024 On-chain data also reveals that social sentiment for ETH has stabilized after intense enthusiasm post-Spot Ethereum ETF approval. However, this hasn’t stopped the massive withdrawal from exchanges, leading Ethereum to become scarcer on centralized exchanges. This trend has now seen the Ethereum balance on centralized exchanges dropping below Bitcoin, even as Spot Bitcoin ETF wallets also accumulate Bitcoins. According to Glassnode data, less than 10.56% of Ethereum’s total supply is currently held on major exchanges. ETH Price Outlook: What’s Next After Critical Buying Pressure? With whales doubling down on Ethereum, the buying pressure has reached a critical point. This surge of interest signals a very bullish outlook for Ethereum’s price in the coming months, although there could be short-term volatility. Related Reading: Crypto Analyst Predicts 800% Rally To $6,000 For BNB, Here’s The Timeline At the time of writing, Ethereum is trading at $3,527 and has fallen 3.83% in the past 24 hours. While the increase in buying pressure is a good start, the bulls still have some work to do to push Ethereum’s price higher. The first major resistance wall is around $3,700, where 1.82 million addresses hold 1.8 million ETH. Featured image created with Dall.E, chart from Tradingview.com
Apple says its new AI model uses “blockchain-ish” tech to preserve privacy. But what does that really mean?
SushiSwap transitions to Sushi Labs with a new council structure and multitoken ecosystem to address governance and market response issues.
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