A trader who correctly called the bottom of the Bitcoin (BTC) bear market in 2018 believes the upward trend for the Ethereum (ETH) challenger, which has significantly outperformed the broader cryptocurrency market this year, is far from over. Pseudonymous analyst Bluntz told his 233,400 followers on social media platform . According to Bluntz, Solana has more gas left in the tank. predict SOL still has a gain of over 257% from current levels. “SOL is still 113% away from ATH. Why is everyone so obsessed with singing the top? What on earth is your problem? Buy dibs up to $400.…
Author: Crypto Flexs
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December was a fiery month for the cryptocurrency sector. South Korea’s Bitcoin Premium Index, a thermometer of the nation’s purchasing power, has soared to levels reminiscent of its November 2021 highs. This sudden heat wave has analysts sweating and unsure whether this is a harbinger of strength or a prelude to a severe correction. Bitcoin ‘Kimchi Premium’ – Korean FOMO excitement Market watcher CryptoQuant points to an interesting trend: “Korean premium overheating.” They whispered that this phenomenon could be a sign of a price peak due to a powerful mix of FOMO-driven excitement and Korean cash pouring into digital shores.…
Meanwhile, trading volume on Solana-based decentralized exchange (DEX) applications remained high, with $1.44 billion worth of tokens traded over the past 24 hours. This accounts for 26% of the total DEX trading volume in the cryptocurrency space, which is higher than common players Ethereum, Arbitrum, and BNB Chain.
Ethereum price is taking gains from the $2,320 resistance zone. ETH is trending lower and may test $2,050 before the bulls take a stance. Ethereum is consolidating gains below the $2,250 support zone. The price is trading below $2,240 and the 100-hour simple moving average. The hourly chart of ETH/USD (data feed via Kraken) shows two bearish trend lines forming, with resistance near $2,230 and $2,260. The decline could extend and revisit the $2,050 support zone. Losses widen due to Ethereum price Ethereum price began a downward correction at the $2,325 level. ETH fell below the $2,300 and $2,265 levels.…
join us telegram A channel to stay up to date on breaking news coverage Michael Wrubel provided insight into the new AI token, currently in pre-sale, showing how it provides traders with the essential tools they need to improve the quality of their trades. With the pre-sale of Launchpad Launchpad XYZ’s resilient trading infrastructure for a reliable experience Navigating the notoriously volatile cryptocurrency markets presents a dual appeal and challenge for investors. Within this dynamic field, emerging projects like Launchpad XYZ aim to simplify the complexity of the Web3 space. In recent months, Launchpad Acting as an all-encompassing platform, Launchpad…
Eddie Yue, CEO of the Hong Kong Monetary Authority, said today that the cryptocurrency market is “not yet mature” and will continue to develop. “This allows stablecoins to become an interface between traditional finance and virtual asset markets,” Yue said. name. “In a scenario where stablecoins become one of the preferred payment options for the general public, we should reasonably expect further integration between the digital payments ecosystem and the real economy, and whether stablecoins are actually ‘stable’ will become even more important. It will. ”Yue’s remarks were jointly announced by the HKMA, Hong Kong’s de facto central bank, and…
Tether, the largest stablecoin operator, made headlines on Christmas Day by issuing 1 billion USDT (Tether) on the Ethereum blockchain. This movement is explained as follows. Paolo Ardoino, Tether’s CTO and new CEO, is part of what the company calls a restocking of “licensed but unissued.” This means that the tokens are ready for future issuance requests and chain swaps, but are not yet in circulation.. In traditional finance, inventory replenishment involves stocking goods in anticipation of future demand and preventing stockouts and surplus inventory. Tether adopts this approach by creating new USDT tokens, which are stored as reserves in…
Tron has remained at the top of blockchains in terms of daily active addresses. TRX fell more than 3% and most market indicators were weak. 2023 was pretty good Tron (TRX) In terms of adoption and use of blockchain. TRX has not only surpassed major competitors such as BNB Chain (BNB) and Bitcoin (BTC), but has also consistently maintained its top spot over the past few months. Tron’s performance in 2023 is diverse. AMBCrypto checked data from token terminals and found that Tron continues to top the list of cryptocurrencies by daily active addresses. At press time, TRX had 1.4…
The recent rise in value of PancakeSwap has caught the attention of the cryptocurrency community. The token in question, CAKE, has surged a whopping 54% over the past seven days. With a robust market capitalization of nearly $900 million and an impressive fully diluted valuation of $1.3 billion, PancakeSwap has solidified its position as a significant player in the decentralized finance (DeFi) space. Strategic Token Burn Drives PanCakeSwap Rise One of the key strategies that has contributed to PancakeSwap’s success lies in its proactive approach to token supply management. In a strategic move to increase scarcity and create a more…
Grayscale Investments, a leading cryptocurrency custodian, has announced the resignation of Barry Silbert from its Board of Directors. Silbert, known as the founder and CEO of Grayscale’s parent company, Digital Currency Group (DCG), has officially stepped down effective January 1, 2024. The move comes as the cryptocurrency industry is going through difficult times, especially following the market downturn in 2022. . Grayscale Investments has been at the forefront of advocating for the conversion of the world’s largest Bitcoin trust into an exchange-traded fund (ETF). The company’s ambitions to gain US approval for this transition add important context to the board…