In the volatile landscape of cryptocurrency markets, Shiba Inu, the popular meme coin, has once again captured the attention of investors with a notable surge in value, despite losing 4% of its value in the last day. The memecoin reached a high of $0.00002296 after experiencing a temporary dip to $0.00002092 just the day before. Source: CoinMarketCap Related Reading: Whale Alert: MATIC Poised For Epic Surge – Time To Dive In? Open Interest Surge Signals Market Activity A key indicator of this newfound interest in Shiba Inu lies in the surge of open interest observed across major exchanges. Leading the charge are exchanges like Huobi and OKX, where Shiba Inu’s open interest soared to nearly $16 million and $15 million, respectively. Source: Coinalyze This surge in open interest reflects heightened market activity and suggests a growing number of investors are actively engaging with Shiba Inu futures contracts. Mixed Sentiment Persists Among Traders Despite the surge in open interest and the subsequent price rally, sentiment among traders remains mixed. While there is evident optimism driving the market, reflected in the increase in open interest, the Long/Short Ratio paints a nuanced picture. SHIB market cap currently at $12.8 billion. Chart: TradingView.com Currently standing at 0.94, the Long/Short Ratio indicates that more traders are betting on a potential price drop for Shiba Inu. This divergence in sentiment adds a layer of complexity to the market dynamics surrounding Shiba Inu. Leveraged Trading Statistics And On-Chain Indicators Examining the market, statistics on leveraged trading offer additional insights into the current state of SHIB. Across exchanges like Bitget, CoinEx, BingX, Huobi, OKX, Kraken, and BitMex, open interest for Shiba Inu futures contracts stands at a staggering 2.40 trillion SHIB tokens. While exchanges like Bitget lead the pack with significant gains in open interest, others like BingX and CoinEx also show notable increases. Related Reading: Elon Musk Latest Tweet: How Much Did Dogecoin Gain From It Today? Furthermore, on-chain indicators present a bullish outlook for Shiba Inu, despite the fluctuations in price and market sentiment. A consistent decline in SHIB tokens held on exchanges since the onset of the bull market in October 2023 suggests that long-term investors maintain confidence in Shiba Inu’s potential. This trend persists even amidst recent market dips in March and April, highlighting the resilience of Shiba Inu’s investor base. Navigating Shiba Inu’s Market Dynamics While the recent surge in price and open interest signals renewed interest and activity, the divergence in trader sentiment underscores the inherent uncertainty of the market. Nevertheless, with on-chain indicators pointing towards long-term confidence, Shiba Inu remains a cryptocurrency to watch closely in the days to come. Featured image from Pexels, chart from TradingView
The exchange could return as a FIU-registered firm after paying the fine, the report added.
The XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) over the status of XRP as a security is poised to escalate to the US Supreme Court. This anticipation has been reinforced by a recent ruling in the Coinbase case, which favored the SEC, as presided over by Judge Katherine Failla […]
BTC dominance is creeping upwards as Layer-1s and Artificial Intelligence tokens had a rough week, while Google search interest in the halving skyrockets.
Yuga Labs has sold off the intellectual property rights of two of its games to Web3 gaming firm Faraway.
The post Bitcoin’s Potential Drop May Cause $15B Liquidations on Binance appeared first on Coinpedia Fintech News
As a result of the Bitcoin drop, over the past 24 hours, 74,741 traders have liquidated assets worth $230.18 million, with top assets being BTC, ETH, and SOL. Leading the pack is Binance with $90.72 million, followed by OKX and Bybit with $84.81 and $25.91 million, respectively. The largest liquidation order was $5.40 million. What’s …
The post Litecoin Simple Price Analysis: LTC Price Preparing for a Fresh Upswing to Reclaim $100 appeared first on Coinpedia Fintech News
The market appeared to be in the middle of a pre-halving rally as the Bitcoin (BTC) price soared high and achieved a new ATH close to $74,000. This triggered a healthy upswing within the entire crypto space, which propelled the LTC price beyond $100, surpassing one of the key resistance levels. Unfortunately, the sentiments flipped …
Griffith’s attorneys are asking for a sentence reduction from 63 months to 51 months or less.
Chainlink’s LINK price retested the $12.00 support zone. The price is now eyeing a recovery wave above the $13.50 and $15.00 resistance levels. Chainlink price is showing bearish signs below the $15.00 resistance against the US dollar. The price is trading below the $14.20 level and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could start a decent increase if it clears the $15.00 resistance zone. Chainlink (LINK) Price Eyes Steady Increase In the past few days, Chainlink saw a major decline from well above the $18.00 level. LINK price declined below the $15.00 pivot level to enter a short-term bearish zone, like Bitcoin and Ethereum. The price tested the $12.00 support zone. A low was formed at $11.92 and the price is now attempting a recovery wave. There was a move above the $12.50 level. It even jumped above the 23.6% Fib retracement level of the downward move from the $18.66 swing high to the $11.92 low. LINK price is still trading below the $14.20 level and the 100 simple moving average (4 hours). Immediate resistance is near the $13.50 level. There is also a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair. Source: LINKUSD on TradingView.com The next major resistance is near the $15.00 zone. A clear break above $15.00 may possibly start a steady increase toward the $16.00 level or the 61.8% Fib retracement level of the downward move from the $18.66 swing high to the $11.92 low. The next major resistance is near the $18.00 level, above which the price could test $20.00. More Losses? If Chainlink’s price fails to climb above the $13.50 resistance level, there could be a fresh decline. Initial support on the downside is near the $12.80 level. The next major support is near the $12.00 level, below which the price might test the $10.80 level. Any more losses could lead LINK toward the $10.00 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now below the 50 level. Major Support Levels – $12.80 and $12.00. Major Resistance Levels – $13.50 and $14.00.
Goldman Sachs questions the bullish outlook for Bitcoin's halving amid high inflation and interest rates, suggesting a shift in market dynamics.
The post Bitcoin halving optimism faces challenges from economic realities: Goldman Sachs appeared first on Crypto Briefing.
Ethereum price is consolidating near the $3,000 zone. ETH could start a decent recovery wave if it clears the $3,100 and $3,200 resistance levels. Ethereum is struggling to recover above the $3,100 resistance zone. The price is trading below $3,120 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $3,035 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if it stays below the $3,100 resistance zone. Ethereum Price Holds Ground Ethereum price slowly moved lower after it failed to clear the $3,200 resistance zone. ETH remained in a bearish zone below $3,100 and showed bearish signs, like Bitcoin. Recently, the bears were able to push the price below the $3,000 support zone. However, the bulls were active near the 50% Fib retracement level of the upward wave from the $2,535 swing low to the $3,279 high. Ethereum is now trading below $3,120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,030 level. There is also a major bearish trend line forming with resistance at $3,035 on the hourly chart of ETH/USD. The first major resistance is near the $3,100 level and the 100-hourly Simple Moving Average. Source: ETHUSD on TradingView.com The next key resistance sits at $3,200, above which the price might rise toward the $3,280 level. A close above the $3,280 resistance could send the price toward the $3,500 pivot level. If there is a move above the $3,500 resistance, Ethereum could even climb toward the $3,650 resistance in the coming sessions. More Losses In ETH? If Ethereum fails to clear the $3,100 resistance, it could start another decline. Initial support on the downside is near the $3,000 level. The first major support is near the $2,900 zone. The next key support could be the $2,820 zone or the 61.8% Fib retracement level of the upward wave from the $2,535 swing low to the $3,279 high. A clear move below the $2,820 support might send the price toward $2,600. Any more losses might send the price toward the $2,550 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 level. Major Support Level – $2,900 Major Resistance Level – $3,100
SEC’s Gary Gensler managed to excite, then rudely disappoint crypto fans with a "legendary and respectable troll thread.”
Bitcoin price is still struggling below the $65,000 resistance zone. BTC must stay above the $60,000 support zone to avoid a major decline. Bitcoin is still struggling to gain pace for a move above the $65,000 resistance zone. The price is trading below $63,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $62,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $63,000 resistance zone. Bitcoin Price Remains At Risk Bitcoin price failed to clear the $64,500 resistance zone. BTC formed a short-term top at $64,450 and started another decline. There was a move below the $63,000 and $62,000 levels. The price even spiked below the $60,000 level. A low was formed near $59,700 and the price is now attempting a fresh recovery wave. The price climbed above the 23.6% Fib retracement level of the recent decline from the $64,444 swing high to the $59,700 low. Bitcoin price is trading below $63,000 and the 100 hourly Simple moving average. Immediate resistance is near the $62,000 level. It is close to the 50% Fib retracement level of the recent decline from the $64,444 swing high to the $59,700 low. The first major resistance could be $62,650 and the trend line. The next resistance now sits at $63,000. If there is a clear move above the $63,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $64,500. Source: BTCUSD on TradingView.com The next major resistance is near the $65,000 zone. Any more gains might send Bitcoin toward the $66,500 resistance zone in the near term. More Losses In BTC? If Bitcoin fails to rise above the $63,000 resistance zone, it could start another decline. Immediate support on the downside is near the $60,800 level. The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward the $59,200 level. Any more losses might send the price toward the $58,500 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 – $60,800, followed by $60,000. Major Resistance Levels – $62,650, $63,000, and $64,500.
EY said it chose Ethereum instead of a private network as it is cheaper, more confidential and prevents a party from gaining a “strategic advantage” over another.
The post Base’s Breakthrough: How Coinbase’s Layer-2 Network Surged to $4 Billion in TVL appeared first on Coinpedia Fintech News
Base, Coinbase’s Layer-2 network, shocked the crypto market last week with a surge in its total value locked (TVL), exceeding $4 billion for the first time. Interestingly, This week it has become a significant contributor to the company’s profits, estimated at $26 million in net profit since its launch in July 2023. Base’s robust transaction …
The post Bitcoin Price to Drop More Before Hitting New High Post Halving appeared first on Coinpedia Fintech News
As cryptocurrency enthusiasts prepare for the TOKEN2049 event in Dubai amid heavy flooding, Bitcoin’s (BTC) price has continued to signal midterm weaknesses. According to the latest market data, the flagship coin has slipped around 3 percent in the last 24 hours to trade at about $62,366 on Wednesday during the early New York session. Furthermore, …
The post Should You Hold or Sell Ethereum? Expert Insights Ahead of the SEC’s ETF Decision appeared first on Coinpedia Fintech News
As the deadline for the SEC’s decision on spot Ethereum ETFs approaches, investors are questioning whether to hold or sell their Ethereum holdings. Experts weigh in on the potential impact of the expected rejection and its implications for the broader cryptocurrency market. Experts and their Insights Analysts anticipate that the SEC will likely reject spot …
Solana price is down 21% in a week, but on-chain and derivatives data highlights investors’ confidence that the network can overcome recent hurdles.
The post Ripple vs. SEC Lawsuit Update: Preparing for April 22nd as Supreme Court Showdown Looms appeared first on Coinpedia Fintech News
Amidst regulatory challenges and court disputes, Ripple Labs Inc. continues its legal battle with the U.S. Securities and Exchange Commission (SEC), a conflict that has significant implications for the cryptocurrency landscape. Exploring the Legal Terrain As Ripple and the SEC lock horns over the classification of crypto assets, the debate intensifies over how these digital …
Excitement around the upcoming Bitcoin halving has seen a continued increase in searches for the term on Google.
The post Top Reasons Why Bitcoin Price is Down Today appeared first on Coinpedia Fintech News
Bitcoin’s price has been dropping rapidly due to the increasing geopolitical conflict in the Middle East. At the same time, the U.S. economy has proven to be resilient, and this has caused an increase in bets on higher interest rates. This has reduced the market’s risk appetite, further hurting Bitcoin. The Bitcoin Halving 2024 is …
Over the years, crypto hacks have become more elaborate and common. In 2024, the community has seen hundreds of millions swept away from exploits and scams, leaving investors empty-handed. Sometimes, the exploiters return the funds and point out a project’s vulnerabilities, helping prevent future incidents. However, it’s more common to see hackers take the stolen […]
The post Top Altcoins To Buy This Dip For 100x Profits appeared first on Coinpedia Fintech News
Cryptocurrency analyst Chump Chang took to his latest analyst and listed altcoins that have experienced significant declines from their all-time highs but present attractive buying opportunities. Here is the list of altcoins for 10x gains in 2024: Cardano: Cardano, currently trading at 45 cents, has witnessed an 85.4% decline from its peak in September 2021. …
The post What Will Happen if the Bitcoin Price Drops Below $58k? appeared first on Coinpedia Fintech News
Bitcoin’s recent price movements have captured the attention of traders worldwide. According to analyst Crypto Rover, after confirming bullish divergences in the four-hour timeframe, Bitcoin has shown signs of resilience, bouncing back from crucial horizontal support levels. Examining Bitcoin’s current chart patterns, Crypto Rover identifies a consolidation phase characterized by a falling wedge pattern. This …
The post Bitcoin Price Crash: Here’s When You Should Buy The Dip, Analyst Maps Entry Points appeared first on Coinpedia Fintech News
Analyst Crypto Banter, in his latest analysis, discussed the recent market trend. He said that usually, after a period of decline, there’s a pre-halving dump, sometimes occurring shortly after the halving event within approximately two months or eight weeks. Choppy price movements and shakeouts characterize this phase. Analyzing the Pre-Halving Dump As for whether the …
The post Next Solana Meme Coins Poised for Explosive Growth in April 2024: Your Golden Ticket to Millions appeared first on Coinpedia Fintech News
The crypto landscape is buzzing with anticipation as 2024 unfolds, spotlighting meme coins that are gearing up for their breakout moments. Solana’s ascent in the crypto realm is undeniable, and SOL-based meme coins are seizing the spotlight. Titans like $WIF and $BOME are cementing their positions, while new entrants aim to challenge the established order. …
Arbitrum, the largest Ethereum layer-2 scaling solution by total value locked (TVL), is taking steps towards decentralization. In an update on April 16, Offchain Labs–Arbitrum developers–said they have deployed the permissionless version of their fraud proofs, dubbed Bounded Liquidity Delay (BOLD), to testnet. Ethereum Layer-2s Are Popular, But There Is A Big Problem Ethereum layer-2 solutions have been gaining prominence over the years. According to L2Beat data on April 17, these platforms control over $37 billion of assets. Protocol developers and users can send transactions cheaply through Arbitrum, Optimism, Base, and other alternatives. However, while they are popular and command billions in TVL, most of these platforms’ fraud proofs are being developed. Typically, when users transact all chains, all transactions must be confirmed by a web of miners or validators, depending on the consensus mechanism. Related Reading: Whale Alert: MATIC Poised For Epic Surge – Time To Dive In? This differs in layer-2 options, which must reroute transactions and process them off-chain. There is no way of proving whether queued transactions are valid before being batched and confirmed on-chain. The fraud proofs, such as those presented by Arbitrum and other optimistic rollup solutions, are designed to address a critical issue in layer-2 solutions. Specifically, once live and integrated into Arbitrum, BOLD will serve as a safety net, ensuring the validity of transactions processed off-chain. This mechanism is crucial in maintaining the integrity of transactions while enabling efficient off-chain processing. In compliance with blockchain principles, BOLD will be decentralized. As such, the community will run nodes, which differs from the current setup. As it is, transaction validation in Arbitrum is centralized, and only a few validators are tasked with this. Arbitrum Deploys BOLD In Testnet, ARB Prices Falling With BOLD in the testnet, Arbitrum is opening up its rails so that anyone can participate in network security and validate withdrawals back to Ethereum. This move will be critical in building a more decentralized ecosystem and making the platform more robust. Arbitrum becomes the first Ethereum layer-2 to launch its fraud proofs in testnet. In a post on X, Ryan Watts of Optimism also notified the community that plans are underway to create a decentralized fraud-proof system for the second-most largest layer-2 by TVL. Even with this major milestone, ARB prices are stable and under pressure. Related Reading: Crypto Analyst Says Don’t Buy Altcoins Just Yet – Here’s Why The token is down 50% from March 2024 highs at spot rates and remains under immense selling pressure. If buyers reverse the April 12 and 13 sell-off, the token might recover strongly, racing towards $1.5. Feature image from Canva, chart from TradingView
CoinGecko cited Magic Eden’s new Diamond reward program and its ongoing commitment to support creator royalties as the main catalysts.
The Reserve Bank of New Zealand opened a new consultation period on a central bank digital currency (CBDC) on April 17. The current stage of development seeks input on “high-level design options for digital cash.” Digital New Zealand dollar Current plans describe digital cash denominated in New Zealand dollars (NZD) that retail users can swap […]
The post New Zealand’s CBDC roadmap enters design consultation stage appeared first on CryptoSlate.
In 2024's first quarter, $60 billion in assets were registered under management of spot Bitcoin ETFs, a Glassnode report revealed.
The post Major institutions invest in BlackRock’s Bitcoin ETF: Bloomberg analyst appeared first on Crypto Briefing.