Solana (SOL) could rise more than 2,000% in the coming months based on favorable charting techniques.The so-called “Ethereum killer” is already up more than 2,000% since hitting a cycle low of around $10 in November 2022. With this, the price trend has drawn what appears to be a cup and handle pattern during the week. This chart was discovered by veteran analyst Peter Brandt.SOL/USD weekly price chart. Source: Peter BrandtSolana in final stages of potential breakthroughThe cup and handle pattern occurs when price undergoes a U-shaped recovery that resembles a “cup” followed by a sideways period that looks like a…
Author: Crypto Flexs
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DBS Bank has launched “Token Services” to enhance blockchain solutions for its customers. Key offerings of ‘DBS Token Services’ include Treasury Tokens, conditional payments and programmable rewards. This service optimizes liquidity management and streamlines operational workflows. DBS Bank, Singapore’s largest financial institution by assets, has launched a new product line called “DBS Token Services” aimed at enhancing blockchain-based banking solutions for institutional customers. This innovative initiative is an important step towards modernizing financial transactions in the digital era by integrating tokenization and smart contract support capabilities with the bank’s existing services. DBS Token Service The newly introduced DBS Token Service…
A blockchain tracking company said a cryptocurrency trader known for accurately distinguishing between highs and lows caused a massive correction in MAGA (TRUMP), a memecoin inspired by presidential candidate Donald Trump. According to Lookonchain, a pseudonymous trader known as Gigantic Rebirth (GCR) reportedly sent more than half of his TRUMP stack to cryptocurrency exchange MEXC to sell on the open market. “Legendary trader GiganticRebirth (GCR) deposited 466,000 TRUMP ($2.4 million) into MEXC, causing a 10% decline in the price. From December 9, 2023 to January 19, 2024, GCR used 703,000 USDT to purchase 936,000 TRUMP at $0.75. He currently has…
Darius Varu October 16, 2024 09:25 Arbitrum Orbit is revolutionizing blockchain technology through custom chains, improved decentralization, and interoperability, fostering innovation across the Ethereum ecosystem. Arbitrum Orbit, a groundbreaking advancement in blockchain technology from Offchain Labs, is making waves with its focus on helping developers create custom chains tailored to their specific needs. According to Offchain Labs, this innovation aims to improve blockchain accessibility, security, and decentralization. Unlocking Blockchain Potential Arbitrum Orbit stands out by providing a technology stack that simplifies the process for developers, allowing them to focus on innovation rather than technical…
Bitcoin (BTC) has begun its “Uptober” comeback, hitting its highest weekly close in nearly five months and returning to $69,000.Expectations of a retest of all-time highs in the third week of October are driving the bulls, but an equally healthy sideways move could come first.Unemployment claims and the Fed Beige Book headline this week’s macro data releases, while risk assets ignore US inflation signals.Opinions are divided on whether BTC/USD has been able to permanently abandon its seven-month downward trend.As Bitcoin derivatives become more active, leverage is causing some analysts headaches.There is still no mainstream consumer interest in Bitcoin.Bitcoin rebounded to…
As of press time, dYdX was the second best coin by profit. About $1 million worth of DYDX was liquidated on Binance at $1.18. dYdX (DYDX) experienced an incredible breakout, rising over 38% in the last 24 hours. This strong rise makes it the second best-performing cryptocurrency among the top 100 cryptocurrencies by market capitalization on CoinMarketCap. With the protocol’s fees distributed primarily to stakers in USDC, dYdX continues to gain attention as a cryptocurrency to accumulate, especially as the market is expected to remain strong in the final quarter of the year. dYdX Price Action and Forecast DYDX, which…
Bitcoin’s hash rate has hit an all-time high, showing that the security of the world’s first blockchain network is strengthening.The Bitcoin network hash rate (the sum of all computing power securing the Bitcoin network) hit a new all-time high of 769.8 exahashes per second (EH/s) on October 21.According to BitInfoCharts data, hashrate has been on a steady rise since 2021. Increasing hashrate has a broad correlation with the development of mining hardware such as application-specific integrated circuits (ASICs).Bitcoin network hash rate, historical chart. Source: BitInfoChartsThe Bitcoin hash rate is a sign that the network is becoming more secure, but it…
“We are evaluating ways to offer Legal & General Investment Management Liquidity funds in a tokenized format,” said Ed Wicks, head of global trading at Legal & General Investment Management (LGIM), when asked about the company’s plans via email. “There is,” he said.
Tony Kim October 16, 2024 10:00 The Hong Kong Monetary Authority has announced improvements to its SME Financial Guarantee Scheme, providing extended loan guarantee periods and new repayment options to support businesses. The Hong Kong Monetary Authority (HKMA) has unveiled significant enhancements to its small and medium enterprise (SME) financial protection scheme, as announced in the CEO’s 2024 policy speech. These changes are designed to provide relief to leveraged companies facing economic restructuring challenges. Key measures introduced According to the HKMA, businesses borrowing under the SME Financing Guarantee Scheme will now benefit from the…
Bitcoin (BTC) is up about 9% this week, indicating strong buying momentum. The upward move faces resistance near $69,000, but bulls are in no hurry to exit their positions. This means buyers are expecting the rally to expand further.Trading firm QCP Capital told subscribers of its Telegram channel that rising U.S. stock markets and a weakening trend in the Japanese yen are likely to increase sentiment about risk leading into the U.S. election. This will “push risk assets higher and support the Uptober narrative,” the company added.Daily view of cryptocurrency market data. source: Coin360Another positive impact for Bitcoin is that…