Ethereum is trending lower after hitting record highs over the weekend. Considering the price movement, the coin is up about 5% from last week’s low but is still falling below the most important resistance level of $3,700. ETH holders and traders are optimistic, but the price should decisively close above this liquidation level, paving the way for further gains in the short and medium term. Will the price of the spot Ethereum ETF plummet after it begins trading? The cause for optimism follows the rapid move by the U.S. Securities and Exchange Commission (SEC) to approve the first spot Ethereum…
Author: Crypto Flexs
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Litecoin (LTC) has found itself firmly in the $60-$70 range since mid-August and in a tight consolidation phase. Despite several attempts to break the $70 resistance level, the bulls appear to be lacking aggression. According to recent data CoinGeckoLTC is trading at $62.99, reflecting a 1.8% decline over the last 24 hours and a 3.1% decline over the past 7 days. In recent weeks, LTC bulls have been diligently defending the August 2022 high of $63, preventing a decline below this important support level. But their efforts to raise the price above $70 proved futile. Related Reading Litecoin Bulls Defend…
Filecoin (FIL) went from $6.13 to $4.35 in less than 7 days. As of this writing, the altcoin is trading at $4.46 after initially falling to its lowest since December 1, 2023. The Bears broke the $5 support line on June 15th, but FIL appears to have hit a local bottom. Here’s what on-chain and technical analysis tells us about price. Demand is down, but the situation is improving Filecoin sank due to continued pessimism and lack of demand for the cryptocurrency, according to a BeInCrypto survey. We analyzed the state of Weighted Sentiment and found evidence. Weighted Sentiment is…
Despite months of BTC price volatility, Bitcoin is still “largely profitable,” a new study finds.In the latest edition of its weekly newsletter The Week On-Chain, published June 18, analytics firm Glassnode dispelled the myth of investors’ unrealized losses.BTC price analysis shows “investor boredom and apathy.”Bitcoin (BTC) may be traded within tight corridors, but the majority of holders are not seeing their investment returns evaporate as a result.Glassnode summarized the current BTC price action as “establishing balance,” pointing to several on-chain indicators that show Bitcoin in a period of consolidation rather than capitulation.“Sideways price movements tend to reflect investor boredom and…
The LayerZero Foundation, the organization behind LayerZero, a cross-chain interoperability platform, has announced an eligibility checker for the upcoming airdrop.Users of the platform will be able to check their airdrop eligibility along with a summary of user activity, including start date and total number of transactions, according to an LayerZero Labs is the core developer of the protocol.Pellegrino said a total of 1.28 million wallets were eligible.Last week, the LayerZero Foundation revealed the airdrop claim date in its first social media post. The post had the phrase ‘06.20.2024’ written on a white background, hinting at an upcoming airdrop on that…
Ronin is on the verge of a polygon-based ZK evolution. Ronin took these measures to ensure that the project could scale indefinitely. This move promises to be a significant benefit to the Polygon (MATIC) ecosystem. Over the past year, the Polygon (MATIC) network has outlined plans to become an ecosystem of ZK-based layer 2 chains that will share liquidity with Ethereum and be infinitely scalable.So far, this vision has been approved by several major projects, including OKX, Astar, and Palm Network. Ronin, the blockchain behind the popular cryptocurrency game Axie Infinity, is the latest project to follow in the footsteps…
Miles Deutscher, a well-known figure in the cryptocurrency analysis world, analyzed in an Deutscher detailed the implications of the rapid rise of new cryptocurrency tokens with a wide following. This is an issue he believes is at the core of altcoins’ poor performance this cycle. Spread of cryptocurrency Since April 2024, the cryptocurrency industry has seen the introduction of more than 1 million new cryptocurrency tokens, a notable half of which are memecoins, primarily created on the Solana network. According to Deutscher, the ease of distributing these tokens on-chain contributes to increasing the number of tokens, but highlights the more…
Share this article Circle Internet Financial, the second-largest stablecoin holder of USDC, is planning to go public via an IPO. But the SEC’s concerns about USDC could test USDC’s ambitious bid, Barron’s said, citing an SEC document.The SEC’s corporate finance division has been in correspondence with Circle for nearly a year, according to the documents. The Commission asked Circle to disclose the risks of USDC being classified as a security and raised concerns about whether Circle would be considered an “investment company” and have to go through different registration processes.If USDC were considered a security, Circle would have to register…
that much Ethereum Foundation It’s back in the news after a recent deal involving millions of dollars. Ethereum (ETH) token. The non-profit’s Ethereum transactions are always significant considering their impact on the second-largest crypto token in general. Ethereum Foundation transfers $64.4 million worth of ETH Crypto journalist Colin Wu Published on X (formerly Twitter) post A wallet connected to the Ethereum Foundation (0x8e…D052) transferred 18,089 ETH ($64.4 million) to a new address (0x87…D812). On-chain data This shows that the new address has not yet transferred these funds and that ETH holdings have not yet been offloaded from the market. Related…
Aayush Jindal is a financial market expert with over 15 years of exceptional expertise in Forex and Cryptocurrency trading. Known for his excellence in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors across the world, guiding them through the complex landscape of modern finance through keen insight and astute chart analysis. From an early age, Aayush showed a natural talent for deciphering complex systems and unraveling patterns. Driven by his insatiable curiosity to understand market dynamics, he embarked on a journey that would lead him to become a leading authority in the field of…