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Get the latest news and information on the future of blockchain and crypto, including price predictions from analysts perspectives for the major coins.

Blockchain News from CoinTelegram

Sphere Labs, a blockchain developer focused on bringing stablecoins as a service to businesses, has announced a new bank-to-wallet Telegram extension.
The Solana community has voted by a significant margin to give 100% of priority fees to network validators.
The Gopax exchange reportedly owes 100 billion Korean won in unreturned user staking deposits.
According to the on-chain sleuth, the CAT memecoin creators hacked crypto influencer GCR to manipulate some coin prices.
Ronin network jumped to second place for daily active users after Pixels launched — but data suggests bots and airdrops are a big factor.
Diving into the AggLayer with Brendan Farmer to determine the implications it will have upon latency, liquidity fragmentation, and more.
Decentralized AI networks, enhancement of smart contracts and emerging DeFi protocols are some of the upcoming trends in blockchain, according to EUBOF.
A London court jailed Jian Wen for six years after being convicted of money laundering in March and Ross Ulbricht thanked Donald Trump for his pledge to free him.
The collection will launch on 29 May with fixed pricing across most items.
The recent surge in transactional activity on Aptos is attributed to the launch of Tapos Cat, a new tap-to-earn game that has gained rapid popularity.
Considering Telegram doesn't even offer end-to-end encryption by default, founder Pavel Durov has a lot to say about his messaging app's competitor.
U.S. SEC approves spot Ether ETFs, FIT21 crypto bill goes to the Senate, and Sam Bankman-Fried held in Oklahoma.
While Bitcoin is often marketed as "digital gold," Ethereum hasn't quite found its simple elevator pitch yet, according to crypto analysts.
Executive director Aya Miyaguchi said the foundation’s neutrality can’t depend on culture and individual judgment after researchers take multimillion-dollar roles at EigenLayer.

Blockchain.News

Astar and Startale lead the web3 mass adoption through strategic enterprise partnerships. (Read More)
Conflux announces v2.4.0-testnet hardfork upgrade. Upgrade nodes before May 30, 15:00 (GMT+8). (Read More)
Biweekly update on SingularityNET's Decentralized AI Platform (Read More)
HKMA delegation visited Malaysia to enhance financial collaboration. (Read More)
Binance to update leverage and margin tiers for perpetual contracts. (Read More)
Binance introduces a Word of the Day game featuring Meme Coins. (Read More)
Binance supports Sei (SEI) and Kadena (KDA) network upgrades for a better user experience. (Read More)
Binance Pool now accepts USDC and FDUSD for cloud mining purchases. (Read More)
Binance Pool launches a new promotion with an extra bonus of 30,000 CKB for BTC and CKB miners. (Read More)
Polkadot and Conor Daly pave the way for decentralized sports sponsorship. (Read More)

Blockchain - Hacker Moon

Monad is an EVM-compatible L1 chain with 10,000 TPS, 1 sec block finality and low fees. All existing dApps that work on Ethereum, can be redeployed on Monad without any changes. The main use case for Monad is DeFi and **high-frequency trading**Read All
RockTree Capital announces the launch of its immersive website, showcasing a futuristic film-noir concept: the Cyberpunk Crypto City. The site, set in the future near the 11th halving of bitcoin, builds on the ideas of the cypherpunk movement. RockTree invests in and accelerates the trajectory of projects from Infrastructure, DeFi, Cross-chain, and the Bitcoin Ecosystem.Read All
Discover how Weekly Predictions revolutionizes crypto investing with Karim Chaib, founder of Dopamine, offering data-driven insights for informed decisions.Read All
- Decentralized insurance is a solution to protect user funds from any future attacks or problems.- Thanks to Nexus Mutual, it is possible to hedge the smart contracts used in DeFi protocols, protecting yourself from any risks.Read All
Biometrics, with its capabilities in identity verification, content authentication, mitigation of bots and Sybil attacks, and creation of personalized user experiences, offers unique advantages to restore trust, combat misinformation, and establish a secure online media ecosystem. This article outlines the potential benefits and considerations associated with integrating biometric solutions within the digital media realm.Read All
Layer-1 blockchains have three sources of funding for the validators supporting their networks: unlocked tokens from the total supply, minting of new tokens and network fees paid by the users. We explore major Layer-1 blockchains to find out how sustainable are their models without token subsidies, pros and cons of different approaches to crypto economy.Read All
DePIN (short for Decentralized Physical Infrastructure Networks) extends Web 3--the decentralized internet built on blockchains, cryptocurrencies, and smart contracts--to physical infrastructure and services like energy networks and ride-sharing. Messari, an independent crypto research firm, estimates DePIN’s Total Addressable Market to be $2.2 trillion, growing to $3.5 trillion by 2028. However, DePIN's theoretical market size is the entire non-digital economy, which, according to the World Bank, is nearly $90 trillion.Read All
Blockchain technology is not only the foundation for cryptocurrencies, but also for the transformation of numerous industries. With applications in finance, healthcare, and beyond, its decentralized nature and robust data security are reshaping the way we handle information. By bringing transparency, security, and efficiency to various aspects of life and business, blockchain is revolutionizing our interactions. As this technology continues to evolve, we anticipate even more diverse applications and innovations. It's important to stay abreast of its progress and explore new opportunities across industries. Blockchain is making the world more transparent, secure and accessible to everyone.Read All
Discover how io.net's partnership with Aptos Labs is setting the stage for the future of decentralized AI and blockchain integration. Learn about their efforts to make AI more accessible and the impact of their collaboration on the AI and blockchain ecosystems.Read All
Ethereum-based Account Abstraction technology gives ultimate power to improve UX, onboard new users to Web3, and build Love Brands in DeFi, gaming, and HoReCa.Read All
The ERC-721 standard and OpenZeppelin's implementation allow safe and reliable buying and selling of NFTs with escrow services. We can send an NFT to an escrow, check if an NFT has been delegated to an escrow, and remove an NFT from escrow. The escrow account holder can execute a transfer to a new owner. Using escrow allows all the parties to agree when the transfer happens when all the rules have been met.Read All
Solana competes with BNB for the fourth place in the crypto world. Has the coin left all the problems behind?Read All

Blockchain - NewsBTC

Bitcoin price climbed higher above the $70,000 level. BTC is now holding gains above support and might aim for another increase in the near term. Bitcoin extended its increase above the $70,000 zone. The price is trading above $69,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $69,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless there is a move below the $68,500 support. Bitcoin Price Holds Support Bitcoin price started another increase from the $68,000 support zone. BTC cleared the $69,000 resistance to move further into a positive zone. There was a break above a key bearish trend line with resistance at $69,000 on the hourly chart of the BTC/USD pair. The pair even climbed above the $70,000 resistance zone. A high was formed at $70,600 and the price recently corrected lower. There was a move below the $70,000 level. The price declined below the 50% Fib retracement level of the upward move from the $67,971 swing low to the $70,600 high. However, the bulls are now active near the same trend line. They are protecting the 61.8% Fib retracement level of the upward move from the $67,971 swing low to the $70,600 high. Bitcoin price is now trading above $69,000 and the 100 hourly Simple moving average. If there is a fresh increase, the price might face resistance near the $70,000 level. The first major resistance could be $70,600. The next key resistance could be $71,200. A clear move above the $71,200 resistance might send the price higher. In the stated case, the price could rise and test the $72,000 resistance. Any more gains might send BTC toward the $73,200 resistance. Another Drop In BTC? If Bitcoin fails to climb above the $70,600 resistance zone, it could continue to move down. Immediate support on the downside is near the $69,000 level. The first major support is $68,500. The next support is now forming near $68,000. Any more losses might send the price toward the $66,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $69,000, followed by $68,500. Major Resistance Levels – $70,000, and $70,600.
As Bitcoin navigates through a period of consolidation, the asset’s price movements are being monitored for optimal entry points. Michaël van de Poppe, a renowned crypto analyst, has recently shared valuable insights into Bitcoin’s current market status and potential for future movement. According to van de Poppe, Bitcoin aims to stabilize within a particular price level, hinting at a possibly extended consolidation phase that could offer a clearer picture for strategic market entries. Related Reading: Bollinger Bands Inventor Foresees Bitcoin Pullback: Key Levels To Watch Strategic Buying Opportunities For Bitcoin Van de Poppe suggests specific price marks that could represent advantageous buying opportunities for Bitcoin. He points out that if Bitcoin’s price were to drop below $66,000, it could reach lower range levels, presenting a prime buying opportunity. #Bitcoin aims to consolidate in these levels. Where to buy? Losing $66K and I think we’ll test range low and be buying there again. That’s the level where you’d want to get your purchases ready. pic.twitter.com/RoYYzJJnt8 — Michaël van de Poppe (@CryptoMichNL) May 27, 2024 Furthermore, in another post published on May 24, the analyst revealed that Bitcoin could slide towards $61,000, which could mark another significant entry point for investors. Monitoring these price levels could be key to capitalizing on potential market lows. In addition to pinpointing optimal buying zones, Van de Poppe advocates adopting a Dollar-Cost Averaging (DCA) strategy during this period. #Bitcoin is consolidating, and it’s within the range. Probably that consolidation will be taking place for a longer period and I suspect we might see $61-63K even. Rotation from Bitcoin to Ethereum causing a longer sideways period. It’s fine. Simply DCA. pic.twitter.com/7hb77dNEKx — Michaël van de Poppe (@CryptoMichNL) May 24, 2024 This method involves making regular purchases of Bitcoin at fixed intervals, regardless of the fluctuating prices, thereby averaging the investment cost over time. This strategy is particularly beneficial in mitigating the risks associated with BTC prices’ high volatility. It allows traders to build positions without the pressure of timing the market perfectly. Comparative Analysis And Future Outlook While van de Poppe focuses on immediate strategies for navigating the current Bitcoin climate, other analysts, like PlanB, look at broader market indicators to forecast future movements. PlanB, known for its Bitcoin Stock-to-Flow model, observes that the Market Value to Realized Value (MVRV) score and Bitcoin’s Relative Strength Index (RSI) show signs of a potential surge. Bitcoin is gaining momentum pic.twitter.com/tbQu7o0hDB — PlanB (@100trillionUSD) May 26, 2024 Historical data suggests that rising MVRV scores, alongside increasing RSI, often precede market tops and heightened buying activity. Moreover, PlanB’s recent analysis indicates that the periods with low MVRV scores, which typically correspond with bearish market phases, might be cycling out, hinting at upcoming bullish momentum. Related Reading: Bitcoin Bulls Gain Breathing Room As Long-Term Holder Activity Eases – Glassnode This could mean that, despite the recent high of $71,000, Bitcoin might not only revisit these levels but could potentially exceed them, challenging its all-time high of $73,000 set in March. Featured image created with DALL·E, Chart from TradingView
The XRP price saw some recovery over the weekend, and has continued to maintain some of this bullish momentum. However, it seems experts do not expect the altcoin to continue its bullish trend, with one crypto analyst predicting that the XRP price is headed for a massive crash. XRP Price On The Verge Of An 80% Crash A crypto analyst who goes by the moniker Without Worries on the TradingView website has shared a concerning development for the XRP price. This analysis ,which focuses on the altcoin’s performance over the last two years, suggests that the price is more likely to crash from here than continue its climb. Related Reading: Terra LUNA’s LUNC Set To Jump 13x, Analyst Reveals The Drivers According to the crypto analyst, the XRP price had been trading inside an uptrend channel for the last two years. Mostly, this channel has held up, allowing the cryptocurrency to hold onto its bullish trend. However, the analyst explains that this uptrend channel support has now failed, and with the confirmation complete, it points to a price reversal for the altcoin. Furthermore, the crypto analyst points out that this channel support failure came after a could top in the price after the coin broke market structure back in April 2022. Given this, he expects the price to reverse from here and crash to levels not seen since 2020. The target for this crash sits at the $0.1, according to the analyst. If this happens, it would mean an over 80% crash from the current value of the token, which sits at around $0.5, at the time of this writing. Could The Uptrend Continue From Here? Like with any analysis, the crypto analyst explains that there is a scenario in which the XRP price could continue its present uptrend. In such a case, the price would have to continue trading inside the channel and hold its support at this level. Related Reading: Why Did CORE Price Surge 20% While The Crypto Market Dumped? However, he explains that the price action has already exited the channel. Now, the point to hold becomes the $0.3 level. As long as this holds, then the uptrend would continue. “that support not confirm, 10 cents is next,” the analyst explains. The analyst believes it is possible that the price action does enter the channel and continue to uptrend. However, he points out that this is not probable, given that there is already confirmation of the price failing to hold support. Nevertheless, at the time of writing, the XRP price is still holding above $0.52 with 1.33% losses in the last day. But it is seeing small gains go 2.82% in the last week and remains the 7th-largest cryptocurrency in the space with a market cap of $29.3 billion. Featured image created with Dall.E, chart from Tradingview.com
Since trading firms like FTX collapsed in November 2022, the Solana blockchain has seen significant gains and regained investor confidence, with Ethereum developers increasingly migrating to it.  According to a recent analysis by Jack Inabinet, Senior Analyst at Bankless, with significant growth in key metrics and SOL’s year-to-date increase of 770%, Solana has solidified its position as a top-tier blockchain. Native teams within the Solana ecosystem played a key role in its resurgence, but now non-native protocols are also seizing the opportunity.  Developers Deliver On Hype Solana’s comeback, from a low of $8 in December 2022 to an annual high of $210 in March, is one of the most notable uptrends of this bull cycle. However, the ecosystem’s growth extends beyond its native token holders. Related Reading: Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat According to Inabinet, developers have delivered on the hype, starting with the PYTH airdrop, the Pyth network’s native token. This incentivized users from different ecosystems to explore SOL by assigning tokens to addresses interacting with Pyth oracles across multiple networks.  Additionally, Solana-native liquid staking protocol Jito Labs conducted its airdrop, catalyzing “mass adoption” through points-based incentive systems. While Solana-native protocols laid the foundation for the platform’s mainstream adoption, Ethereum developers are increasingly migrating to SOL. Inabinet highlights that recognizing the significant on-chain activity within Solana, projects are eager to capitalize on the opportunity.  Ethereum Developers Flock To Solana For example, the decentralized compute-sharing network Render migrated its token to the Solana Program Library (SPL) standard, and MetaMask introduced Solana compatibility by introducing “Snaps.”  In addition, according to Inabinet, Aave, Ethereum’s first lending destination, has approved the deployment of a minimally viable version of its V3 isolated money market through Neon Ethereum Virtual Machine (EVM), a compatible Ethereum development environment built on top of Solana.  Proposals for independent deployments, such as the EVM-based perpetual trading platform GMX, further demonstrate the growing interest in SOL. However, the analyst noted that Ethereum and Solana have different approaches to scaling, with Ethereum opting for network fragmentation and Solana favoring a unified state.  Related Reading: Altcoin Season Soon? Quant Says This Ethereum Pattern Could Suggest So Given these approaches, Inabinet suggests that Solana’s alternative vision of blockchain offers attractive features, attracting developers seeking scalability and concentration of use.  Nonetheless, the analyst cautions that developers must take a diversified approach to maximize success and secure market share. Inabinet concluded:  The crypto industry must hurdle a massive chasm of uncertainty to progress from infancy into an end-state where true adoption is achieved, and trillions upon trillions of dollars in traditional assets make their way on-chain. Until then, application developers succumbing to blind chain loyalty are leaving money and market share on the table. As of press time, SOL has seen a 5% increase in the last 24 hours, resulting in a current trading price of $171, with the next price hurdle at $176.  Featured image from Shutterstock, chart from TradingView.com
Over the weekend, the crypto community saw suspicious behavior from several X accounts. Crypto figures and celebrities were suspected of being hacked after some unusual posts promoting memecoins. Related Reading: PEPE Frenzy: 100% Gains In 30 Days, But Can The Memecoin Keep Its Composure? Among the celebrities, Olympian and reality TV star Caitlyn Jenner saw a turbulent launch of her JENNER token due to hack and back exit scam rumors. Despite the confusing start, the memecoin has soared by 50,000% since its launch. The Sunday Of Memecoins Launches On Sunday, the crypto community was on edge after a series of dubious posts were shared on different X accounts. First, crypto trader GCR’s account was compromised. The hacker shared two posts promoting tokens, but the community quickly figured the posts were unauthorized.   Later in the afternoon, rapper Rich the Kid and Olympic athlete Caitlyn Jenner shared links to Pump.fun promoting two memecoins, RICH and JENNER. The media personality shared a picture with Former US President Donald Trump and the text “Make America Great Again” alongside the link to the token. The community suspected another security breach in both instances. Nonetheless, Jenner claimed the token was not a scam and continued to promote it on her X and Instagram accounts. Jenner’s manager, Sophia Hutchins, also posted a video explaining that the token and posts were real. Despite the clarification, the community remained cautious as deepfake videos have become more popular among scammers. However, there was some suspicious behavior during the launch, as it was later revealed. The Gold Medalist Of Scams? As the hours passed, crypto investors started to investigate Jenner’s token. According to community member CryptoRoxo, the TV star’s team was “socially engineered by a guy named Sahil.” Per her post, Sahil Arora was the “middleman” in charge of launching the memecoins and advising Jenner’s team about crypto. After launch, Arora seemingly “dumped all the tokens from the deployer wallet, and he had sniped more on burner wallets.” Moreover, he asked Jenner’s team to share a post asking the public to send him tokens. As reported by Roxo, the lack of crypto knowledge allowed Arora to trick several celebrity and influencer teams in the past week. At the time of this writing, Rich The Kid has deleted all posts related to the token and has “called out” Arora and Caitlyn Jenner for scamming people. Additionally, he claims to be working on launching his token, which is unrelated to RICH and Arora. Keeping Up With Jenner Token  X user 0xPonga compiled the tumultuous price movement of the JENNER token during the launch. According to the post, JENNER reached an initial $2 million market cap, despite the initial concerns. After Arora’s sell-off, the community reinforced their suspicion of the scam. However, Hutchins’ video seemingly raised the market cap to $8 million. The token’s price dropped after the deepfake allegations, but the market cap recovered past $20 million after Hutchins addressed the comments in an X Space. Jenner’s manager later hinted at the launch of a new token, which caused JENNER’s price to plummet to a $6 million market cap. A community member stated his disbelief in Jenner’s willing participation in the pump-and-dump scam. He asserted, “I refuse Caitlin is dumb enough to think the few thousand dollars she made off this is worth the millions in fines/jail time.” Related Reading: Bitcoin Price Losing Steam: Market Momentum Slows Amid Trading Hesitation At the time of writing, Jenner’s alleged post asking for tokens seems to have been deleted. The Olympian has continued to promote her token, which will be listed on the crypto exchange MEXC this Monday. JENNER’s market cap sits at $26.79 million and has a daily trading volume of $191.8 million. The memecoin has soared by 51,000% after surging from $0.00006 to $0.0392 in the past 17 hours. Featured Image from Pexels.com, Chart from TradingView.com
Crypto analyst Mags has raised the possibility of Dogecoin (DOGE) recording a 700% price surge that will send it above $1. The analyst’s prediction follows a recent recovery in Dogecoin’s on-chain metrics, which paint a bullish picture for the meme coin.  Dogecoin About To Go Parabolic Mags remarked in an X (formerly Twitter) post that Dogecoin is about to go parabolic. He claims that the foremost meme coin will make a 700% move in this cycle as it rises above $1. Related Reading: Why Did CORE Price Surge 20% While The Crypto Market Dumped? The analyst is known to have rightly called Dogecoin just before it recorded a 170x price increase in the last bull cycle. Mags also revealed that he has been accumulating DOGE for the past few months and is ready for the 7x return he will gain if Dogecoin were to make this move.  A 700% increase in Dogecoin’s price from its current level would mean the meme coin would rise to as high as $1.17. This aligns with other predictions made by crypto analysts, like Ali Martinez, who says that Dogecoin can rise to $1 in this market cycle. Meanwhile, crypto analyst Capt Toblerone has given a more bullish prediction, stating that Dogecoin could make a 1,300% rally and rise to as high as $1.5.  However, unlike Mags, Capt Toblerone predicts that Dogecoin will still experience a 30% price crash and drop to around $0.108 before it makes this parabolic move to the upside. Meanwhile, it is worth noting that some of Dogecoin’s on-chain metrics are again in the green, presenting a bullish outlook for the foremost meme coin.  Data from the market intelligence platform IntoTheBlock shows that Dogecoin whales are actively accumulating the meme coin with a 2.64% in large transactions over the last few days. The Bid-Ask Volume Imbalance has also turned bullish for Dogecoin. However, those looking to invest in DOGE might have to be cautious, given that most holders are currently in the money (in profits). This could lead to a wave of sell-offs, which could cause Dogecoin’s price to dip momentarily. Such dip undoubtedly provides the perfect entry for those looking to invest in the meme coin.  A DOGE ETF Could Be On The Cards Market experts continue to raise the possibility of a Dogecoin exchange-traded fund (ETF) coming into existence. Bloomberg analyst James Seyffart recently discussed the possibility of a  Dogecoin ETF being one of the next crypto funds to launch following the approval of the Spot Ethereum ETFs.  Related Reading: Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch Crypto venture capitalist (VC) Andrew Kang also boldly claimed that “the odds for a DOGE ETF look brighter than ever.” He made this assertion while alluding to the regulatory clarity that the crypto industry in the US will gain if the Financial Innovation and Technology for the 21st Century (FIT21) bill eventually gets enacted.  Launching a Dogecoin ETF can help drive the meme coin’s price to $1 or even higher, given how the Spot Bitcoin ETFs contributed to Bitcoin’s rise to a new all-time high (ATH) in March.  Featured image created with Dall.E, chart from Tradingview.com
After a crucial week for Ethereum, a technical candlestick arrangement shows that ETH prices could prepare for a sharp upturn in the coming weeks and months. Pointing out events in the monthly chart, one analyst notes that the ETH/BTC ratio reverses from a multi-year support trend line. Usually, the analyst continued, when prices bounce from this line, altcoin prices tend to react, trending higher.  ETH/BTC Rising From Crucial Support Trend Line The ETH/BTC is a ratio closely monitored by technical analysts. It compares the performance of the world’s first and second most valuable coins. Although Bitcoin has been firm for the better part of the last two years, the monthly chart clearly shows a descending channel, indicating an upward trend. So far, there have been a series of higher lows. This suggests that bulls have been soaking in selling pressure over the years, keeping prices higher. Related Reading: XRP Bullish Outlook: Analyst Predicts Mega Run On The Horizon Looking at the monthly chart, this month’s bar will close firmly as bullish. This will result in a double-bar bullish reversal pattern that may ignite demand. This will subsequently help pump ETH prices even higher. Even so, the relatively lower trading volume, lower than those seen in July 2022, suggests that participation is not at historically high levels. A bullish bar in June confirming this month’s gain could be the base of another leg up. If this happens, it will mirror those of January 2021. Another 40% gain versus Bitcoin could see ETH close above 0.08 BTC, propelling the coin closely toward 2017 highs.  Overall, Bitcoin has been firm. From September 2022, BTC has been outperforming ETH, erasing gains from 2020 and 2021. The result was a descending channel, though this phase of lower lows also had relatively low participation levels. Technically, based on a volume analysis, this is bullish for ETH. Even so, a close above 0.08 BTC would be a strong testament from the bulls. It could potentially set a foundation to cement ETH, further narrowing BTC’s dominance. Spot Ethereum ETFs To Drive Demand: Path To $4,900? Over the years since launching and the final approval of spot Bitcoin exchange-traded funds (ETFs) in January, the digital asset was the only one recognized by the United States Securities and Exchange Commission (SEC). Because of this advantage, the approval of the derivative product has seen BTC become an institution’s go-to asset. Wall Street players like Fidelity and BlackRock have been enabling exposure to BTC via spot ETFs over the past four months, resulting in billions being poured into the asset.  Related Reading: Chart Whisperer Spots Algorand Breakout: Get Ready For A 50% Rally However, this changed last week when the United States SEC approved listing all spot Ethereum ETFs. ETH staking was removed from amended 19b-4 files. Still, the fact that Ethereum is almost being clarified represents a massive boost for the network and the platform. ETH prices shot by as much as 30% in response, outperforming Bitcoin. It is highly likely that ETH prices will continue rising in the coming weeks. Though it remains to be seen how the reception will be, especially among investors, the coin, like BTC prices post mid-January 2024, will rally, perhaps breaking $4,100 and even all-time highs of 2021.  Feature image from iStock, chart from TradingView
Crypto analyst CryptoBull recently highlighted a bullish pattern that could send the XRP price to three figures. However, the analyst failed to give an exact timeline for when this massive rally would occur.  XRP Price To Hit $154 CryptoBull mentioned in an X (formerly Twitter) post that that chart shows that XRP will rise to $154. The analyst highlighted an ascending broadening wedge, which he expects XRP to break out from as it makes this parabolic move to the upside. To confirm his bullish sentiment, CryptoBull also reposted the analysis of two other crypto analysts who suggested that XRP could experience a price breakout soon.  Related Reading: Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch   One of these analysts is Javon Marks, who recently mentioned that something is brewing for XRP. He shared a chart that highlighted a bullish divergence that had formed for XRP. Marks had previously predicted that XRP could rise to as high as $200. He claimed that XRP “may be more than poised” to rise to this price level based on his Full Logarithmic follow-through analysis Marks also alluded to the 2017 bull run, when XRP saw a price increase of over 108,000%, revealing that XRP has since set up and broken out of its “largest resisting structure ever.” Crypto analyst CasiTrades is the second analyst whose analysis CryptoBull reposted. CasiTrades predicts that XRP can rise to as high as $13, seeing how it has consolidated for six years. She also raised the possibility of XRP rising to as high as $80 when it breaks out of the consolidation triangle. Crypto analyst JackTheRippler also predicted that XRP could rise as high as $100 soon enough. However, unlike CryptoBull, the crypto analyst didn’t allude to the charts but singled out the Securities and Exchange Commission’s (SEC) case against Ripple as the factor that will drive XRP’s price to such heights. He claimed XRP will reach $100 when the lawsuit ends.   An XRP Breakout Is Imminent Crypto analyst Egrag Crypto suggested in a recent X post that a breakout was imminent for XRP. He highlighted the “White Triangle” breakout, which he said is “aligning perfectly” with previous charts and the Fib 0.0702 to 0.786 levels. He claimed the measured move for XRP is projected to be between $1.2 and $1.5. Related Reading: Prepare For Impact: Market Expert Says Biggest Disaster In Crypto Yet To Come However, what is most important for XRP is breaking out from the $0.70 to $0.75 price range, which Egrag labeled as critical breakout points. The crypto analyst sounded confident that XRP will soon experience this upward trend, stating that the token “is poised to break out.” He added that a “mega run for XRP is on the horizon,” although the retest of the breakout might be on the cards.  At the time of writing, XRP is trading at around $0.53, down over 1% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com
As the US Securities and Exchange Commission (SEC) approved all the spot Ethereum ETF applications, despite increased regulatory uncertainty surrounding the cryptocurrency, investors are becoming more optimistic about the potential for ETH’s price to reach new heights.  Bullish Sentiment Surrounds Ethereum ETF Approval  DeFiance Capital Founder and CIO Arthur Cheong predicts that ETH could reach an annual high of $4,500 before the newly approved index funds begin trading, surpassing its mid-March high of $4,096. This projection falls just short of ETH’s all-time high of $4,878 during the 2021 bull run. In addition, a survey conducted by WuBlockchain in the Chinese community revealed that 58% of respondents believe that ETH has the potential to rise to $10,000 or even higher in this market cycle.  Related Reading: Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat The recent regulatory pivot by the SEC towards approving Ether ETFs has intensified bets on further price gains. In the seven days following the announcement, ETH experienced a 26% surge, marking the largest weekly advance since the 2021 crypto bull market.  This development brings hope to speculators, considering the success of US spot Bitcoin ETFs, which have amassed $59 billion in assets since their record-breaking debut in January.  However, spot Ethereum ETFs will not participate in staking, earning rewards by pledging tokens to maintain the Ethereum blockchain. This omission could potentially dampen interest in these funds in comparison to holding the tokens directly. Although additional SEC approvals are required before issuers such as BlackRock and Fidelity Investments can launch their products, the timeline for these releases remains uncertain. As of now, ETH is trading around $3,900, with expectations of further upside potential. Options Bets Signal Potential Climb To $5,000 According to a Bloomberg report, analysts such as Pepperstone Group Head of Research Chris Weston believe that pullbacks in ETH are buying opportunities as the risk remains skewed to the upside.  Interestingly, as seen in the chart below, some traders are placing bullish options bets, with concentrations signaling a potential climb to $5,000 or more. Furthermore, ETH’s volatility, as indicated by the T3 Ether Volatility Index, is expected to be greater than that of Bitcoin, highlighting the potential for larger price swings in the second-largest digital asset. Related Reading: Ripple CTO Addresses Curious Price Link Between XRP And XLM Insights from the futures market, particularly the level of open interest in Chicago Mercantile Exchange (CME) Ethereum futures, provide evidence of institutional demand for regulated exposure to cryptocurrencies.  While open interest in CME Ether futures is growing, it remains significantly lower than that of CME Bitcoin futures. This suggests relatively less institutional exposure to Ether and could potentially impact initial inflows into Ether ETFs. Nevertheless, as the approval of Ethereum ETFs opens up new avenues for investment and speculation, the market is closely watching ETH’s price performance, with bullish sentiment and optimistic predictions prevailing among investors. Featured image from Shutterstock, chart from TradingView.com
A quant has explained how a pattern currently forming in the Ethereum Open Interest could imply the altcoin season is coming “sooner than expected.” Altcoin Season May Be Approaching Soon Based On Ethereum Pattern In a CryptoQuant Quicktake post, an analyst has discussed about why an altcoin season may be coming soon for the cryptocurrency sector, based on a trend taking place in a couple of Ethereum and Bitcoin indicators. The first metric of relevance here is the “Open Interest,” which keeps track of the total amount of derivatives positions related to a given asset currently open on all centralized exchanges. Related Reading: Shiba Inu One Of The Most-Traded Tokens By Whales, Data Shows When the value of this metric goes up, it means the speculators are opening up fresh positions for the coin right now. On the other hand, a decline implies the users are either closing up their positions of their own volition or getting forcibly liquidated by their platform. Now, here is a chart that shows how the trend in the Open Interest has compared between Bitcoin and Ethereum over the past year: As displayed in the above graph, the Bitcoin Open Interest has been moving more or less sideways recently, while at the same time, the metric has registered growth for Ethereum. This would suggest that ETH has been seeing more appetite for derivatives market contracts than the original cryptocurrency recently. One of the driving factors behind this could be the news cycle related to the approval of the spot exchange-traded funds (ETFs) for the asset. In the same chart, the quant has also attached the data for another indicator: the Estimated Leverage Ratio (ELR). This metric measures the ratio between the Open Interest and the Exchange Reserve for any asset. The latter is naturally the total amount of the coin that’s currently sitting in the wallets of all centralized exchanges. The ELR basically provides us with information about the amount of leverage that the average user in the derivatives market is opting for right now. From the graph, it’s visible that this ratio has seen a surge for Ethereum recently but has been showing flat action for Bitcoin. Thus, it would appear that not only has ETH been seeing more speculative interest than BTC recently, but also these users opening contracts are going for higher risk as they are taking on more leverage. Related Reading: Analyst Says “Only A Matter Of Time” Before Bitcoin Flies Past ATH The analyst believes that the fact that Ethereum has overtaken Bitcoin in these indicators could be a potential sign that an altcoin season may be approaching soon. “If Ethereum’s price continues to consolidate in the current range, it’s very possible that the altcoin season will start sooner than expected,” notes the quant. It now remains to be seen how things play out in the market in the near future, given this shift of trend. ETH Price After seeing a slowdown earlier, Ethereum has been back on track in the past couple of days as its price has now climbed back above the $3,900 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com