A widely known cryptocurrency analyst and trader said that altcoins in the Solana (SOL) ecosystem are at a critical time. The analyst, who goes by the pseudonym Sherpa, tells his 234,700 followers on social media platform According to Sherpa’s POPCAT chart, the Solana-based memecoin has formed a head-and-shoulders pattern on daily time frames and appears likely to crash if it fails to hold support levels. The head and shoulders pattern is generally considered a bearish pattern in technical analysis. Source: Sherpa/X POPCAT is trading at $0.802 at the time of this writing, up 21,147% from its January 5 low of…
Author: Crypto Flexs
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Bitcoin (BTC) has found relief since the Wall Street open on December 20 as massive leverage flushes continue to punish bulls.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC price retests December lows as leverage evaporates.Data from Cointelegraph Markets Pro and TradingView shows BTC/USD recovering above $96,000 on Bitstamp.Bitcoin, still down 1.5% on the day, offered difficult trading conditions but took a long time to pay out as the market clawed back to $92,000 lows from early December.“A series of support losses actually occurred,” popular trader and analyst Rekt Capital wrote in part of his market coverage of X on the day.“With this decline,…
contributor Posted on: December 20, 2024 XRP is down 2.82% in the last 24 hours. Ripples whale buys 110 million XRP tokens worth $242 million. Over the past 24 hours, the cryptocurrency market has experienced strong downward pressure. XRP was not spared as most altcoins declined after BTC fell to $95,000. During this period, Ripple (XRP) suffered a sharp decline and hit a low of $2.15. The decline has created a buying opportunity among investors, especially whales. So the whales shifted to buying the dip. Ripple Whale Buys a Dip In his analysis, Ali Martinez observed that Ripple’s whales switched…
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. Analysts are predicting a surge in the price of Shiba Inu and Ripple despite the market downturn, with the new coin delivering an impressive 700% rise. The cryptocurrency market has witnessed a sharp correction following a strong bull market that began in November. This decline affected the prices of Shiba Inu (SHIB) and Ripple (XRP). Nonetheless, analysts predicted prices could rise in the coming weeks. SHIB could rise to $0.0004729 and XRP could rise to $2.78. Meanwhile, Intel Market,…
The number of stablecoins pegged to the Ethereum layer 2 network has hit an all-time high, showing growing demand for cryptocurrencies. Stablecoin supply on all blockchains is led by Tether (USDT), USD Coin (USDC), and Ethena’s stablecoin USDe.As of December 20, the Ethereum blockchain held $13.5 billion worth of stablecoins, according to data from Tie Terminal, a cryptocurrency data platform for institutions, and Cointelegraph Markets Pro. Total stablecoin circulation has surpassed $205 billion, demonstrating the ecosystem’s growing relevance in real-world use cases.Changes in total stablecoin supply due to blockchain. Source: TIE TerminalIn a December 15 post on It highlighted that…
U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded record outflows on Thursday, while CME futures premiums fell into single digits amid signs of weakening near-term demand.Investors withdrew $671.9 million in net assets from 11 ETFs, ending the 15th consecutive day of inflows, according to data from Coinglass and Farside Investors. This is the largest single day since the launch on January 11th.Fidelity’s FBTC and Grayscale’s GBTC led the outflow, with losses of $208.5 million and $188.6 million, respectively. Other funds also recorded outflows, with BlackRock’s IBIT hitting zero for the first time in weeks.Bitcoin extended its losses after the Fed…
Key Takeaways US Bitcoin ETF experienced historic outflows as investors withdrew $672 million in one day. Fidelity’s Bitcoin Fund led the outflows, followed by Grayscale and ARK Invest ETFs. Share this article The U.S. spot Bitcoin ETF suffered its largest single-day outflow ever amid a sharp sell-off in the cryptocurrency market following the FOMC meeting. About $672 million exited the fund on Thursday, ending a period of net inflows that began in late November, according to Farside Investors data.This large-scale withdrawal surpassed the previous record of $564 million set in May. 1, There were withdrawals of nearly $564 million from…
The CEO of stablecoin issuer Circle says digital assets pegged to the dollar should become a mass export product for the United States. In a new interview with CNBC TV, Circle CEO Jeremy Allaire said the United States should promote a “fully digital dollar” as a means of preserving the value of the greenback. Allaire also said the country’s financial situation was “not normal.” This could also be helped by a transparent digital dollar system. “Above all else, we must first focus on the power and competitiveness of the dollar. Even though the dollar is a reserve currency, there are…
Looking at the cumulative activity of whales and Smart DEX, it appears that purchasing activity has increased. Past active addresses by profitability shows that most traders are profitable. AAVE It continues to establish itself as a leading DeFi asset for whales. One whale in particular amassed 96,800 AAVE through aggressive dollar cost averaging and spent $17.8 million at an average price of $183.4. The recent influx of 9,702 AAVE, purchased for $3.18 million from GHO and WBTC, highlighted whales’ continued investment despite falling prices. The whale’s position with unrealized profits of $15.31 million, reflecting an 86.2% increase in value, indicates…
just alvin December 14, 2024 01:52 CleanSpark, Inc. announced the pricing of a $550 million convertible note to strengthen its financial strategy and expand its Bitcoin mining operations. CleanSpark, Inc. (Nasdaq: CLSK), a prominent player in Bitcoin mining, announced the pricing of a $550 million convertible note. The notes, which mature in 2030, carry a coupon of 0.00% and will be sold to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, according to CleanSpark. Offering Details The transaction includes a capped call with an initial cap price of $24.66,…