A widely known cryptocurrency analyst and trader believes that one of Ethereum’s (ETH) competitors is forming a bullish reversal pattern. An analyst known by the pseudonym Rekt Capital told his 499,100 followers on social media platform X that Avalanche (AVAX) may have reached a market bottom after retesting a key level around $21.57 on the monthly chart. “Avalanche successfully retested the macro downtrend at the support level. This confirms that the downtrend is over and a new macro uptrend is being established. AVAX is up +29% after the successful retest.” Source: Rekt Capital/X At the time of writing, AVAX is…
Author: Crypto Flexs
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Ether (ETH) surged 11.7% between September 17 and September 19, hitting a three-week high of $2,572. This price movement coincided with a rise in Ether futures open interest, which reflects the total number of contracts on a derivatives exchange. As a result, traders have become wary that higher leverage could potentially lead to greater price volatility.Lower interest rates support bullish momentum for ETH, but the US economy remains a risk.The recent ETH price rally mirrored the broader cryptocurrency market’s 8.3% gain, driven by a combination of interest rate cuts and strong labor market data in the U.S. This momentum also…
This article is also available in Spanish. As the market recovers, open interest for major assets is increasing, but Dogecoin does not seem to follow this trend. The meme coin has remained stagnant, not moving like other large-cap stocks such as Bitcoin and Solana. Naturally, the direction of open interest can affect the performance of Dogecoin price. So, how will this stagnant open interest affect the price of the meme coin going forward? Dogecoin open interest not moving According to data from the Coinglass website, Dogecoin open interest has once again failed to surpass $500 million. On Thursday, Dogecoin open…
avalanche Abox +1.78% Although he was a rising star not long ago, he now faces a steep uphill climb. The number of active addresses on Avalanche’s C-Chain has plummeted to a 12-month low of 31,000, matching levels last seen in October 2023. This is in stark contrast to the network’s peak of 99,000 active addresses in December 2023.Current user activity is down about 70% from its December peak, raising questions about the network’s ability to sustain user engagement. Despite processing about 150,000 transactions per day, the declining number of active addresses suggests that it is concentrated among less active users.Designed…
contributor Posted: September 20, 2024 ADA’s long/short ratio was at 1.034, indicating bullish market sentiment among traders. ADA’s open interest for futures increased by 8.5% and continued its steady upward trend. Amidst this ongoing market reversal, Cardano (ADA) is showing strength and is on the verge of a massive rally, which appears to be fueled by a potential breakout and bullish on-chain metrics. The overall market sentiment has changed, with major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) experiencing significant upward momentum, and now Cardano is following suit. Cardano Price Momentum Over the past three days, ADA has surged…
Join us telegram Stay up to date with the latest news coverage by subscribing to our channels. The cryptocurrency market is growing significantly, with many digital assets emerging as attractive investment options. The current global cryptocurrency market capitalization is $2.17 trillion, up 5.01% over 24 hours. The total trading volume also surged to $98.83 billion, showing a notable increase of 27.18% during the day. Several altcoins are experiencing positive momentum today, showing significant gains. Recent technological advancements, strategic partnerships, and dynamic market developments are attracting the attention of investors looking to capture potential opportunities. This article explores some of them:…
Rebecca Moen 19 Sep 2024 14:59 NVIDIA’s AI and accelerated computing platforms are leading to significant energy efficiency improvements across a range of industries, as highlighted at Climate Week 2024. According to the NVIDIA blog, NVIDIA’s AI and accelerated computing platforms are leading to significant energy efficiency improvements across a range of industries, which was highlighted during Climate Week 2024. NVIDIA’s global operations will all be powered by renewable energy sources by the end of January. This change is consistent with the company’s mission to help customers and partners leverage AI and accelerated computing…
September 19, 2024 The EEA today released version 1 of its new DLT interoperability specification. About the specifications This specification provides a standard framework that enables interaction between various blockchains and distributed ledgers. This standard provides software teams with a well-known set of interfaces, reducing development time and the potential for errors, and eliminating the need for developers to build custom solutions for each pair of networks they want to connect. This specification was developed by the EEA’s Cross-Chain Interoperability Working Group. This working group grew out of early work on interoperability in 2019 when EEA members recognized that a…
Cryptocurrency hackers have taken over the official YouTube channel of the Supreme Court of India and are running Ripple and XRP scams.On September 20, the official YouTube channel of the Supreme Court of India, which had over 217,000 followers, was rebranded as a Ripple-themed account to run a cryptocurrency scam. The hacked YouTube channel of the Supreme Court of India. Source: YouTube The hackers used the channel to play fake livestream videos featuring Ripple Labs CEO Brad Garlinghouse, and also urged potential victims to invest in the scam, promising unrealistic returns. YouTube closes hacked accountsThe hacker also changed the channel…
Bitcoin (BTC) sold off along with U.S. stocks at the opening of Wall Street on September 20 as risk assets began to break away from the macroeconomic uptrend.BTC/USD 1-hour chart. Source: TradingViewBitcoin Price ‘Bullish’ Outlook Until Weekly CloseAccording to data from Cointelegraph Markets Pro and TradingView, the price of BTC turned upward again at the daily open after hitting a three-week high of $64,121 on Bitstamp.The S&P 500, which hit a record high on September 18 after the Federal Reserve’s sharp interest rate cut, also fell along with the Nasdaq 100.S&P 500 vs. BTC/USD 1-day chart. Source: TradingViewGold is up…