Quick Take Kraken, the digital asset exchange, recently experienced its largest outflow in dollar value, with approximately $1.6 billion being transferred out of the platform on May 30, according to Glassnode data. According to Arkham Intelligence Transaction data, this significant movement was executed through five transactions from Kraken’s deposit to an external address: three transactions […]
The post Kraken experiences largest outflow with $1.6 billion in Bitcoin transactions appeared first on CryptoSlate.
BTC price needs to work to flip its old 2021 all-time high to support as the Bitcoin monthly close approaches.
Toncoin serves as the native token of the TON ecosystem and has multiple use cases. The token like other native tokens such as Solana (SOL) and Ethereum (ETH) has been doing well, as it experienced a notable price rise, especially with the launch of Notcoin (NOT) recently. Based on TON’s past price movements, the token has successfully formed a Double-Top chart pattern, which is typically followed by a price decline. With a 10% decrease in the past day’s trading volume to $152 million the price of TON is indicating a bearish trend. In the last 24 hours, TON was around -0.39% down with a market capitalization of about $15,52 billion and the price was trading around $6.44. TON, at the moment, is trading above the 1-day Simple Moving Average (SMA), but in the 4-hour time frame, it is trading below the range. Technical Indicators Point Toward Sustained Downtrend For TON From the 4-hour time frame, the price of TON is trading below the 100-day simple moving average, which is a clear sign that it might be poised for a bearish movement. The 4-hour Moving Average Convergence Divergence (MACD) also signals that TON might move bearishly as the MACD histograms are already trending below the MACD zero line. In addition, both the MACD signal line and the MACD line have crossed and are heading towards the MACD zero line of which there is a possibility they might move below it. On the 1-day time frame, it can also be observed that the price TON is showing signs of going bearish as it is attempting to move toward the 100-day SMA. Given that the MACD histograms are trending below the MACD zero line, the 1-day Moving Average Convergence Divergence suggests a possible bearish trend ahead. Both the MACD line and the MACD signal line have crossed and are moving towards the direction of the zero line, as seen in the 4-hour timeframe. Crucial Points To Determine Next Move From TON’s previous price action, it can be observed that it has managed to create some highs and lows, which are key points in determining its next destination. Currently, there is one major resistance level of $7.677 and two major support levels of $4.688 and $3.34. If the price TON continues to move downward and breaks below the support level at the $4.688 mark, it might move even further to test the $3.34 support level. However, if it fails to break below the $4.688 level, it will continue in its upward trend toward the $7.677 resistance level. Should the price break above this resistance level, it might move even further to create a new high. Featured image from Pinterest, chart from Tradingview.com
ARAX has announced a strategic partnership with the Municipality of Tuzla, Romania, to launch a Decentralized Physical Infrastructure Network (DePIN) project aimed at transforming the city into a smart urban hub. This initiative will leverage ARAX’s advanced blockchain, IoT, and AI technologies to implement intelligent streetlights and other smart city solutions. The project will be […]
The post Romanian city Tuzla to become a blockchain-powered DePIN smart hub with ARAX partnership appeared first on CryptoSlate.
Terra founder Do Kwon and Terraform Labs reached a tentative settlement with the SEC in their civil fraud case Thursday.
This regulatory crackdown underscores the SFC's commitment to fostering a secure and transparent environment for virtual asset trading.
Two men linked to $575 Million HashFlare crypto mining fraud had their first court appearance yesterday in Seattle.
At the ongoing Consensus 2024 conference, Ripple CEO Brad Garlinghouse expressed strong confidence in the approval of a spot XRP exchange-traded fund (ETF) in the United States, alongside potential spot ETFs for other major altcoins like Solana and Cardano. His statement comes at a pivotal time as regulatory perspectives on crypto seem to be shifting. […]
The post OKB Price Trend Teases A 50% Positive Cycle Next Month appeared first on Coinpedia Fintech News
Despite an intense bear cycle in the last few weeks, the trend reversal chances in the OKB price trend are increasing significantly. The anticipation of a trend reversal increases with the broader market sentiments improving and the rising channel pattern in the 1W chart. With buyers planning to undermine the bear cycle, will the bullish …
Quick Take On May 30, Farside data revealed that Bitcoin (BTC) Exchange-Traded Funds (ETFs) experienced another inflow of $48.8 million, marking 13 consecutive trading days of positive inflows. The current record is 17 successive inflows, indicating strong investor confidence in these financial instruments. Among the ETFs, Fidelity’s FBTC witnessed the most significant inflow since May […]
The post Fidelity’s $119.1 million inflow boosts Bitcoin ETF gains as inflows hit 13-day streak appeared first on CryptoSlate.
Trust Wallet’s head of engineering, Luis Ocegueda, discusses Barz, an open-source smart wallet solution compatible with ERC-4337.
CryptoQuant CEO Ki Young Ju highlights similarities between Bitcoin whale accumulation in 2024 and mid-2020, suggesting potential bullish trends as high on-chain activity continues despite low price volatility.
Cardano (ADA), the smart contract platform, has been facing a rough patch recently. While the broader DeFi sector has seen an uptick in DEX volumes, Cardano’s Total Value Locked (TVL) has plummeted, raising concerns about the health of its ecosystem. Related Reading: Political Memecoin Mania: Super Trump Token Explodes With 200% Surge DeFi Activity And NFT Market Slump Despite the surge in DEX volumes across the crypto landscape, Cardano’s TVL has witnessed a significant decline, dropping from $430 million to $230 million, according to data from Artemis, a leading blockchain data provider. This suggests a lack of interest in dApps built on the Cardano network, potentially hindering its long-term growth prospects. The NFT space on Cardano has also taken a hit. Popular NFT collections have seen a dramatic decrease in floor price and overall trading volume over the past month. This waning interest in Cardano NFTs could further dampen investor sentiment and negatively impact the price of ADA. Cardano: Technical Indicators Flash Warning Signs The technical outlook for ADA is currently bearish. The price has been trending downwards over the past few weeks, forming multiple lower lows and lower highs. Additionally, key technical indicators like the RSI (Relative Strength Index) and CMF (Chaikin Money Flow) are pointing towards declining bullish momentum and money flow into ADA. Beyond the immediate price and DeFi woes, other factors raise concerns about Cardano’s future. The velocity of ADA, indicating the frequency of token exchange, has fallen significantly, suggesting decreased trading activity. Additionally, the MVRV ratio, a measure of profitability for token holders, has also dropped, implying that most ADA addresses are currently underwater. Cardano Price Forecast While Cardano remains a prominent player in the blockchain space, the recent developments highlight the challenges it faces. The combination of declining price, waning DeFi and NFT activity, and negative on-chain metrics suggests a potential for further downside in the short term. Cardano is expected to experience a modest increase in price, reaching $0.47 by June 30, 2024, indicating a predicted rise of nearly 5%. However, it’s important to consider various technical indicators and market sentiment to assess the potential movement of the asset. Related Reading: Are Whales Sniffing Out A Deal? Ethereum Holdings Balloon To 30% – Details The crypto’s bearish sentiment may be influenced by factors such as market trends, news events, or technical analysis patterns. Additionally, the Fear & Greed Index stands at 73, indicating a state of Greed among market participants. This suggests that investors may be more inclined to take risks or engage in speculative behavior, which could potentially impact Cardano’s price movement. It’s noteworthy that ADA has experienced significant price fluctuations in the past. Its highest price of $3.10 was reached on September 2, 2021, marking its all-time high, while its lowest price of $0.017 was recorded on October 1, 2017, representing its all-time low. These historical price points highlight the volatility and potential for significant price swings within the Cardano market. Featured image from ReddSparks Crypto Blog, chart from TradingView
The post Polygon Price Repeatedly Fails To Breakout! MATIC Price To Retest $0.63? appeared first on Coinpedia Fintech News
Despite a surge in the Ethereum-based tokens following the approval of the spot ETH ETF, the Polygon MATIC price has displayed a weak price action over the past six weeks, highlighting a rising disinterest of investors in the Layer-2 (L2) token. The MATIC coin price has recorded a trading volume of $298.25 Million and a …
In a dramatic response to Donald Trump’s recent legal troubles, Trump-themed meme coins have experienced a significant drop in value. Following the former US president’s guilty verdict on 34 felony charges, the market has shown a sharp reaction, highlighting the volatile nature of these niche financial assets. The MAGA coin, which uses the ticker TRUMP, […]
CryptoQuant CEO Ki Young-Ju today pointed out significant similarities in Bitcoin’s market behavior between the current state and mid-2020, a period marked by stagnant prices but high on-chain activity. Young-Ju’s insights were illustrated with two key charts and shared via a post on X, drawing parallels that suggest a robust undercurrent of large volume transactions, potentially outside the public exchange networks. The first chart, representing data up until 2020, shows Bitcoin’s price alongside the realized cap for new whales – a metric that tracks the aggregate value at which the newly acquired Bitcoin by large investors was last moved. It’s a different form of market capitalization that assesses each UTXO at the price it last changed hands, rather than its present market price. This metric reflects the actual realized value of all the coins in the network, rather than their current market value. Related Reading: Eye On $91,500: Key Bitcoin Level Could Trigger Massive Surge, Analyst Warns This value experienced a sharp increase around mid-2020, precisely when Bitcoin’s price was caught in boredom just like in recent months, consistently trading around the $10,000 mark. According to Young-Ju, this period was characterized by high on-chain activity which later analysis suggested involved over-the-counter (OTC) transactions among institutional players. In the second chart, extending to 2024, a similar pattern emerges with even more pronounced growth in the realized cap for new whales, despite Bitcoin’s price showing a sideways movement for almost 100 days now. The chart indicates a significant addition of about $1 billion daily into new whale wallets, a term typically referring to addresses holding large amounts of Bitcoin, often linked with institutional or highly capitalized individual investors. What This Means For Bitcoin Price Ki Young-Ju elaborated on these observations: “Same vibe on Bitcoin as mid-2020. Back then, BTC hovered around $10k for 6 months with high on-chain activity, later revealed as OTC deals. Now, despite low price volatility, on-chain activity remains high, with $1B added daily to new whale wallets, likely custody.” Related Reading: Lost And Found: Hackers Successfully Access Decade-Old Bitcoin Wallet, Retrieve $3 Million He further referenced a tweet from September 2020 that corroborated his analysis, noting that the “number of BTC transferred hits the year-high, and those TXs are not from exchanges. Fund Flow Ratio of all exchanges hits the year-low. Something’s happening. Possibly OTC deals.” This comparison and the sustained high level of the realized cap for new whales suggest an ongoing accumulation phase among large-scale investors, reminiscent of the activity observed in mid-2020. Such movements are generally not visible on traditional crypto exchanges and indicate a strong institutional interest that could be a precursor to significant market moves. Following Young-Ju’s tweet, BTC price rallied by 480% from September 2020 till November 2021. If a similar move is brewing for Bitcoin price remains to be seen, but the continuous growth in Bitcoin holdings among new whales, along with sustained price levels, points to a potential buildup of pressure beneath the apparent calm of the market surface. As observed in the past, such conditions may lead to substantial price movements once the accumulated Bitcoin begins to impact the broader market through either increased liquidity or renewed trading interest. At press time, BTC traded at $68,271. Featured image created with DALL·E, chart from TradingView.com
Pepe’s price has slid 12% since reaching all-time highs, but trading volume has surged by 216%, indicating heightened interest from traders.
The post Chainlink Price Records Bearish Reversal! LINK Price Hints A 10% Plunge? appeared first on Coinpedia Fintech News
The cryptocurrency market has entered into a consolidated phase, as top cryptocurrencies continue to display a neutral price action since the week started. Moreover, the altcoin leader, ETH price, continues to hover close to its important support of $2,800, highlighting a cool-off in the price action. On the other hand, the Chainlink price has recorded …
The United States House’s widely positive vote on the crypto-regulating FIT21 bill should be “a wake-up call” to the Senate to quickly pass it, says Rep. Patrick McHenry.
A recent slew of tokens issued on Pump Fun by fairly well-known and local celebrities has gotten the crypto community divided on their purpose.
The post Is Solana Heading Back into the Decessive Range: Will it Rebound Back to $170 or Slip Down to $150? appeared first on Coinpedia Fintech News
With the resurgence of memecoin mania, Solana also received significant momentum. The bulls used all their strength to keep the value above $180 but the growing bearish strength caused a notable pullback. As a result, the SOL price is consolidating strongly within a narrow range of $163 to $172, indicating the possibility of a large …
Scott Johnsson, a finance lawyer at Van Buren Capital, has provided an extensive critique via X, detailing a series of stringent regulatory actions and policies (aka Operation Chokepoint 2.0) by the Biden administration towards the crypto sector. His observations suggest that despite some superficially positive gestures like the spot Ethereum ETF approval, the administration’s fundamental […]
Bitcoin financial services firm and UATX plan to raise $5 million to invest in BTC for the next five years.
The AI firm has terminated accounts linked to several alleged foreign covert influence operations.
Data shows the relationship between Bitcoin and Gold has been growing deeper recently as their 60-day correlation has been riding an uptrend. Bitcoin Has Been Becoming Increasingly Correlated To Gold Recently In a new post on X, Kaiko has discussed about the latest trend taking place in the correlation for Bitcoin and Gold. The “correlation” […]
The ongoing bull run in the crypto market has brought soaring prices, fueled by regulatory breakthroughs and significant events like the Bitcoin (BTC) Halving and approval of crypto exchange-traded funds (ETFs) in the US and Hong Kong. However, alongside this positive momentum, the industry has also experienced increased losses due to hacks and rug pulls. May […]
Senators Elizabeth Warren and William Cassidy say crypto has played an “increasingly prominent role” in the fentanyl industry.
The WIF meme coin is trading below what some believe is a concerning price level, but many traders are seemingly “betting on a WIF bounce.”
The post Bitcoin Finds A New Consolidation Phase: Here’s What to Expect from BTC Price Rally In H2 2024 appeared first on Coinpedia Fintech News
The bear market had squeezed profits by over 80% in 2022 but the hopes of a bullish rebound prevailed. As a result, they witnessed a decent recovery phase in 2023, which has intensified since the beginning of 2024. After reaching a particular point, the Bitcoin price seems to be facing a barrier due to the …
Babylon, a crypto startup co-founded by Stanford University engineering Professor David Tse, has secured $70 million in its latest funding round, according to a Bloomberg report. The company reportedly aims to bridge the gap between Bitcoin (BTC) and Ethereum (ETH), the two leading cryptocurrencies. Bitcoin As A Staking Asset Per the report, the funding round was […]