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Dogecoin, Cardano, And Chainlink Get Special Listing From Binance

Binance is on the move once again with new special listings for Dogecoin, Cardano, and Chainlink, among others. The exchange has announced brand new crypto trading pairs for these cryptocurrencies which would bring advantages to traders.

Binance Adds New Dogecoin, Cardano, And Chainlink Pairs

In a new development that was revealed on Christmas Day, the Binance crypto exchange has expanded its list of pairs available for both Cross Margin and Isolated Margin users. The announcement revealed that it will be adding 11 new pairs across these two products.

The new pairs are mainly denominated in the FDUSD pair, a stablecoin that the exchange adopted after Paxos was ordered to stop issuing BUSD tokens. The new pairs in the Cross Margin feature include “ ADA/FDUSD, AEUR/USDT, AVAX/FDUSD, DIA/USDT, DOGE/FDUSD, IOTX/ETH, LINK/FDUSD, MATIC/FDUSD, OM/USDT, POLS/USDT.” Meanwhile, only a single new pair was added to the Isolated Margin feature which is IOTX/ETH.

Binance’s move to add new trading pairs across these products shows a move toward providing further liquidity for traders. “Binance Margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios and flexibility with trading strategies,” the crypto exchange said in the announcement.

The move comes only two days after the exchange had announced the removal of multiple spot trading pairs which affected the likes of Dogecoin, Cardano, and Solana, among others. There were no specific reasons for the removal, although the exchange explained that trading pairs can be delisted due to multiple factors.

Dogecoin price chart from Tradingview.com (Crypto Binance Cardano Chainlink)

Crypto Exchanges Cleaning Up Shop

In the last week, there have been multiple instances of crypto exchanges delisting cryptocurrency pairs from their platform. The most prominent delistings for the week came from the Uphold exchange which delisted a number of cryptocurrencies in an effort to keep up with Canadian regulations.

As Bitcoinist reported, Uphold emailed its customers in the region to reveal that it will be desolating 10 Tier 3 cryptocurrencies from the exchange. Those mentioned in the email included Dogecoin (DOGE), Cardano (ADA), Shiba Inu (SHIB), XDC Network (XDC), Kaspa (KAS), Hedera (HBAR), Stellar (XLM), VeChain (VET), Injective (INJ), and Casper (CSPR). Additionally, the crypto exchange revealed it will be delisting all Tier 4 cryptocurrencies as well.

However, unlike Binance’s delisting which only affected some pairs of different cryptocurrencies, Uphold’s move is a total delisting. “Maintaining a healthy ecosystem of digital assets for our customers is one of our top priorities – occasionally delisting assets forms part of this process,” the exchange said.

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Machine Learning Algorithm Predicts When Cardano Price Will Hit New $6.5 ATH

The machine learning algorithm at CoinCodex has predicted when the Cardano price will reach a new all-time high. The coin which has been performing quite well in the last few weeks is still miles away from its current all-time high of $3.1. However, the machine learning algorithm has revealed when it will cross this level once more.

Cardano Price Will Hit $6.5

According to the CoinCodex machine learning algorithm, the Cardano price may be locked into years of performing below its 2021 all-time high prices before finally revisiting It around five years from now. Apparently, while the next few years will see the price jump another 200% from its current price, breaking above $3.1 will remain elusive.

The year 2024 which is expected to be the start of another crypto bull market will reportedly see ADA only rise as high as $2.98, falling just short of its previous all-time high. Then in the years 2025 and 2026, its max performance is pegged even lower with $2.42 in 2025 and $0.8 in 2026.

The year 2027 is expected to follow the same trend as 2026 with a min value of $0.5 and a maximum value of $0.86. However, in 2028, this is expected to completely change to the point where the ADA price will reach a brand-new all-time high.

Cardano’s max price for the year 2028 is said to be $6.52 by the machine learning algorithm with a minimum price of $0.73. Then in the following year of 2029, it expects a minimum value of $1.1 and a max value of $4.99. Finally, the year 2030 is placed at a minimum of $0.65 and a maximum of $1.36.

Cardano price chart from Tradingview.com

ADA Sees Bullishness Across The Board

Contrary to the CoinCodex machine learning algorithm saying that the Cardano price will not reach a new all-time high until the year 2028, crypto analysts have come forward with their own bullish predictions. One analyst Psyclops expects the price to climb to $10 amid the rapid growth that is being recorded in the Cardano ecosystem.

Another crypto analyst known as Crypto Crow says that they expect the price to reach $32. The time frame from this analyst is that they expect this to happen in the next bull market and since the next bull market is expected to take place between 2024 and 2025, it gives it a two-year timeframe.

Finally, crypto analyst Dan Gambardello has predicted that the Cardano price will reach $11. His reasoning lies with the past performance of the digital asset which has performed very well in each bull market. Gambardello expects that if ADA sticks to historical performance, then the market cap of the altcoin will climb to $400 billion by the year 2025.

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Shiba Inu Faces Make Or A Point As Analyst Identifies Critical Trading Pattern

Shiba Inu bulls continue to struggle to hold on to gains from the last week despite losing their hold at the $0.00001 level. This shows a commitment to pushing the price of the meme coin even higher at a time when large cap altcoins are not really getting much attention. Given this, the SHIB price has traded in a tight range for a while now, something that could either make or break the price.

Shiba Inu Trading In A Descending Parallel Pattern

Crypto analyst Ali Martinez has identified a pattern that the Shiba Inu price has been trading inside recently. Using a price chart of the altcoin, the crypto analyst shows that SHIB has continued to trade inside what is known as a descending parallel pattern.

Now, descending parallel patterns only show up in an asset when there are a lot of prominent downtrends in the price of that asset over time. Due to this, the appearance of a descending parallel pattern is often very bearish for the price. However, it is not all bad news given that descending parallel patterns can also lead to a surge in the price of an asset.

As Martinez outlines in his analysis, the current pattern being exhibited by the SHIB price can end up going one of two ways. The first of these is the bullish path which could lead to a breakout. In this case, the analyst maintains that there needs to be a decisive weekly breakout which could push the price toward $0.000014.

On the flip side of this thought is the more bearish path that could signal a drop back to October levels. This happens is the price of SHIB ends up facing a region which could lead to a cascade of downward movement. In this case, the meme coin could fall back to $0.000008 once more.

Shiba Inu price chart from Tradingview.com

SHIB Struggles To Keep Up

Since facing rejection at $0.00001095, the SHIB price has struggled to keep up with its gains. This makes it the level to beat if the bulls want to regain control. However, there is still a lot of resistance to the asset that it could be an uphill battle to win.

There are some things that could help to return positive sentiment for Shiba Inu among investors. For one, the Shiba Inu lead developer Shytoshi Kusama has teased what they called a “game-changing announcement.” If the announcement does turn out to be as big as expected, it could propel SHIB’s price forward.

Shibarium, the Shiba Inu Layer 2 blockchain, has also seen a lot of usage recently. This flurry of activity has increased the amount of fees generated, climbing over $1.2 million. The project’s lead dev has confirmed that these generated fees will be used to burn SHIB. As the SHIB supply is reduced, the price is expected to rally.

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Terra Classic Validator Presents ‘Legally Absolved Route’ To Burn 800 Million USTC

Back in August 2023, the Terra Classic community passed a proposal that would see 800 million USTC incinerated. This move came about as the community worked to help the token recover and be re-pegged back to the US dollar. Naturally, the proposal passed and the community prepared for the massive burn. That is until the plan hit a snag.

Terra Classic Validators Worried About Code Changes

The 800 million USTC mentioned in the proposal to be burned are the tokens held in the community treasury and managed by Risk Harbor. After the proposal was passed, the community turned toward carrying out the burn, until validators raised an issue with the plan.

According to Risk Harbor, they no longer had the keys to the wallet which happens to be a multi-sig wallet. So by default, these USTC coins are no longer accessible. But to burn the token, validators would be required to update the codes on their nodes and the legalities around this move have been questioned.

As a result of this, validators have begun to vote no to carrying out the burn, citing these legal issues. This is derailing the massive burn which is expected to reduce the token supply by around 8% in a single go.

In response to this, a Terra Classic validator known as Lunanauts has proposed what they say is a “legally absolved route” to completing the burn. Basically, Lunanauts has devised a way in which validators would not have to update the codes on their nodes and thus, avoid any legal issues.

USTC price chart from Tradingview.com

Legal Way To Burn 800 Million USTC

In a proposal made on the Terra Classic community forum titled “Burn of 800m USTC Funds – legally absolved route,” Lunanauts suggests using a smart contract to actually burn the tokens. The objective of the proposal, Lunanauts explained, is to still carry out the burn but eliminate legal repercussions for validators.

The process would involve creating a smart contract carrying a “sole MsgSend to transfer all holdings to Anxu.” Once this is done, the multis contract can then be transferred via governance to the code id create. So there is no need for any code changes by validators. As Lunanauts explains, “The proposed method achieves the same effect as (proposal 11913) without requiring validator installations.”

Lunanauts’s ‘solution’ comes hot on the heels of Proposal 11832 which has taken another route to address validators’ legal concerns. The proposal wants to blacklist the multisig wallet holding the 800 million USTC instead, making it impossible to transfer tokens from that wallet.

The two proposals are currently going head to head. As always, token holders are able to vote on the proposal they want to support. Once voting ends, whatever proposal passes will determine what happens to the 800 million USTC in the community wallet.

Nevertheless, all of this is being done with the endgame of re-pegging USTC to the US dollar. The token is still trading about 96% below its peg with a 9.78 billion total supply.

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Avalanche Open Interest Just Smashed A New ATH, Can AVAX Reclaim $100?

Avalanche has seen its native token AVAX rise rapidly over the last 30 days to make its way into the top 10 tokens by market cap. This rally was not exactly out of the blue as activity had begun to pick up once more on the Avalanche network. During this time, the open interest has risen rapidly as well, eventually touching a new all-time high.

Avalanche Open Interest Rises To $413 Million

On Tuesday, the Avalanche open interest rose to the highest level since its launch following AVAX’s surge to $40. The open interest reached $413 million on December 12 after continuously rising for over a month. The surge happened in tandem with the price surge and has made daily highs almost every day in December.

The surge began in October after trailing around $70 million for the better part of a month. However, in November, there was a noticeable change in the open interest as traders began to take their positions in the digital asset.

Avalanche AVAX OI

Between November and December, the AVAX open interest has risen by over 400%. On Tuesday alone, the open interest grew another 19%, bringing the total Avalanche open interest across all exchanges to 11.43 million AVAX.

73% of the total open interest is actually coming from only two exchanges; Binance and ByBit. According to data from Coinglass, Binance accounts for 44% of the total OI at $184 million (4.54 million AVAX), while ByBit accounts for 28.8% of the OI with $119.67 million (2.95 million AVAX). BingX, OKX, and Bitget make up the rest of the top 5 with $50.37 million, $43.7 million, and $41.8 million, respectively.

Avalanche AVAX price chart from Tradingview.com

Rise In OI Sending AVAX Price To $100?

While the Avalanche open interest has soared to a new all-time high, there is still a long way to go for the AVAX price before it reaches its all-time high of $146. Nevertheless, the rise in open interest is still incredibly bullish for the price.

As proven by historical performance, the price of AVAX has often risen whenever the open interest has been on the rise. This was the case between 2021 and 2022 when the price of the altcoin rose above $100 before eventually crashing in 2022.

If the Avalanche open interest continues to rise from here, it is expected that AVAX will follow through. A break in OI over $500 million will no doubt see the altcoin clear the coveted $50 level once more. However, $100 still looks to be a long way from here and will likely be reached sometime in 2024.

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Here’s How Much You Would Have If You Bought Bitcoin When Jim Cramer Said Sell

Jim Cramer, the host of CNBC’s Mad Money show, has come to be known in Bitcoin circles for his constantly wrong predictions about the asset. Cramer has, at various points, called for investors to sell their Bitcoin but with the crypto’s price continuing to go up after his calls, here’s how much Bitcoin has gained since Cramer last called for a BTC sell-off.

Counter-Trading Jim Cramer’s Advice On Bitcoin

Back in 2022 when the FTX crypto exchange collapsed and filed for bankruptcy, the Bitcoin price had fallen more than 50% to trade below $15,000. This crash took place in November 2022 and a few months later, there was a slight recovery in price and Cramer gave one of his infamous ‘Sell Bitcoin Now’ advice.

As shown in a video of Cramer shared by the parody account @CramerTracker on X (formerly Twitter), the Mad Money show host can be seen advising investors to sell their Bitcoin. At the time, the asset’s price had risen around 4% in one week to $24,000 and Cramer believed this was an opportunity to sell. According to him, BTC’s price was being manipulated, and selling into the slight pump was the best thing.

Cramer also asserted that the ‘price manipulation’ has made him no longer believe in the asset. “I would sell my Bitcoin right into this rally,” Cramer said. “Believe me, I had been a believer one time in Bitcoin. Not here. Not now,” the show host further added.

In true Cramer fashion, he would turn out to be wrong less than a year later as Bitcoin’s price would keep going up. In fact, buying Bitcoin at the time when Cramer advised investors to sell proved to be one of the best buying opportunities.

From Cramer’s sell call at $24,000 to now, the price has increased by 80%. This means that if an investor had bought $100,000 in BTC when Cramer said sell and held until now, they would have a whopping $180,000 in their portfolio, meaning an $80,000 profit in less than one year.

Bitcoin price chart from Tradingview.com (Jim Cramer)

The Inverse Cramer Tracker ETF

Cramer’s propensity for being wrong has brought him notoriety to the point that there is currently a fund dedicated to doing the opposite of what the CNBC host says. The Inverse Cramer Tracker ETF is currently sitting at $22.07 after hitting an all-time high of $26, data from MarketWatch shows.

Currently, the ProShares Bitcoin Strategy ETF is the top holding in the fund (5.50%) which currently has around $3.1 million in net assets. Other prominent investments include PayPal Holdings Inc., AMC Entertainment Holdings Inc., and Dominion Energy Inc., among others.

Interestingly, Cramer changed his stance on Bitcoin in November 2023, just months after his initial prediction. He has gone on to endorse Bitcoin investments and referred to his earlier predictions as ‘premature.’

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Bitcoin Vulnerability Discovered By A Developer Has Been Flagged By The US Government

 

Last week, a Bitcoin developer Luke Dashjr raised alarm about a possible vulnerability in the network in relation to the Bitcoin Ordinals that could lead to a code exploit. After posting his findings to social media, Dashjr’s warnings were not taken seriously as community members believed it was a non-issue. However, the US government seems to be taking the vulnerability seriously, adding it to its vulnerability database.

Dashjr’s Finds Vulnerability In Bitcoin Network

Dashjr had first raised alarm about the bug in the Bitcoin network on December 6 through an X (formerly Twitter) post. As the developer explains, this bug was related to the BTC Inscriptions which have gained popularity in the last year. This capability has helped developers to create what could be referred to as Bitcoin’s version of non-fungible tokens (NFTs).

Elaborating on the mechanism of Ordinals, Dashjr explained that the Inscriptions were actually taking advantage of a vulnerability in the Bitcoin Core. Developers are able to hide their data as program code, thereby being able to bypass the preset limit on the size of extra data that can be included in BTC transactions.

Dashjr explained that he was working to fix this issue. However, the vulnerability remains as developers are still able to create inscriptions on the network. Even after being fixed in the “Bitcoin Knots v25.1,” the developer explains that the vulnerability still remains “in the upcoming v26 release.” As for when the vulnerability might be completely fixed, Dashjr said he hopes this will happen sometime in 2024.

As Bitcoinist reported, not everyone in the community agreed that this was actually a vulnerability. Some worried that if the ‘vulnerability’ is eventually fixed, Ordinals and BRC-20 tokens would disappear, to which Dashjr responded in the affirmative.

Bitcoin price chart from Tradingview.com

NIST Adds BTC Bug To Vulnerability List

Despite the Bitcoin community not taking the warning of the vulnerability seriously, the United States government has chosen a more proactive approach. The National Vulnerability Database which is under the government agency, the National Institute of Standards and Technology (NIST), has moved forward to add the vulnerability to its Vulnerability List under ‘Common Vulnerabilities and Exposures.’

The agency has assigned the vulnerability with the code CVE-2023-50428 after identifying that it could be a potential risk for the network, especially when it comes to security or integrity. This means the agency believes this could lead to an exploit in the Bitcoin network.

The very existence of Ordinals and BRC-20 tokens is already identified as one of the ways that this vulnerability is already being exploited. Naturally, the agency is looking to prevent other ways in which the vulnerability could be further exploited in a way that could cause harm to its users.

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Solana-Based Meme Coin Outperforms Dogecoin, Shiba Inu To Become 3rd-Largest

BONK, a Solana-based meme coin, has continued to outperform the likes of Dogecoin and Shiba Inu over the last week. As the SOL price has rallied, so has its ecosystem coins continued to rise. This has led to a Solana-based meme coin becoming the third-largest meme coin in the space.

BONK Meme Coin Beats Out PEPE For Third Place

Despite BONK debuting on the meme coin scene months before PEPE, the latter had been able to quickly capture a larger market share and eventually became the third-largest in the space. PEPE would maintain this dominance for months, even after an over 60% decline from its all-time high. But it seems that dominance has come to an end.

Over the last week, the BONK price has continued to rally, eventually rising above $0.000012. This put its market cap above $700 million, eventually beating out PEPE’s market cap. For context, the PEPE market cap is currently sitting at $650 million compared to BONK’s $717 million.

In the same vein, the BONK meme coin has also outperformed the top 10 meme coins by market cap. In a one-week period, BONK has risen 192% compared to PEPE’s 40% and FLOKI’s 27%. Even 9GAG’s Memecoin (MEME) falls behind with 41% gains in the 7-day period.

BONK’s price has risen 40% in the last 24 hours alone and its trading volume has not been left out of the action. Currently, the BONK daily trading volume is sitting at $213 million which is a 119% increase from its previous day’s figures, data from CoinMarketCap shows.

Solana-based BONK price chart from Tradingview.com (Dogecoin Shiba Inu)

Dogecoin And Shiba Inu See Positive Headwinds

Despite not seeing a performance as good as BONK, other meme coins such as Dogecoin and Shiba Inu have also been seeing positive headwinds. Both assets have performed quite well in the last seven days as DOGE rose 15.4% and SHIB rose 20.1%.

There are also other metrics that are driving the positive headwinds for these assets. For Shiba Inu, its volatility has remained high which has historically been a bullish thing for the price. If this holds, then there could be more rallies to come.

Then for Dogecoin, multiple upcoming events could trigger a price rally. First is the Dogecoin moon mission which is taking a physical DOGE coin to the moon in December. Then in 2024, the DOGE-1 mission is expected to take off and it is the first space mission fully funded by crypto and paid for entirely in Dogecoin. DOGE’s open interest has also been on the high side, something that has often been a signal of a rally in the past.

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Shiba Inu Burn Rate Rises Rapidly In One Week, What’s Been Driving It?

The rise in the Shiba Inu burn rate has no doubt been one of the most notable developments in the community. At the start of the week, the burn rate rose over 7,000,000% after more than 8 billion tokens were burned in a 24-hour period. This trend has not slowed down either given that the burn figures have continued to rise daily.

Shiba Inu Burn Surge Continues

Earlier in the week when the Shiba Inu burn saw one of its highest daily spikes, the total number of tokens burned had come out to just over 8 billion. At the time, this was a significant figure given that the burn rate had been slowing down over the last year. However, there has been a steady rise in the number of SHIB tokens that are being burned lately, which raises the question of what is driving the burn.

After a dip in the burn rate following the 8 billion daily burn, the community is back at it again and their zeal has been rewarded once more. On Thursday, the burn tracker Shibburn reported that the 24-hour figure had crossed 10 million once again. This shows a steady recovery from Wednesday’s figures which had tanked significantly.

Shiba Inu burn 803%

As Shibburn data shows, the 10.34 million SHIB that were burned in the last 24 hours amounts to an 803.4% increase in the burn rate compared to the previous day. The majority of the burns have, however, come from a single wallet address. The address sent a little over 10.2 million SHIB to the burn address.

This recent spike in the BURN rate has also added to the total amount burned on a weekly basis. The figure comes out to 8.497 billion, which is a 1,969.72% increase from the previous week’s figures.

Shiba Inu price chart from Tradingview.com

What Is Driving The SHIB Burn?

The most significant burn for the week was the 8.2 billion burn, most of which came from a single address. This address was the ShibaSwap deployer wallet, which meant that the SHIB team was the one burning the tokens.

The spike in the burn rate coincides with the increased usage of the Shiba Inu layer 2 blockchain Shibarium, which marked multiple milestones this week. As the usage has risen and more fees were collected on the network, the amount of SHIB to be burned rose drastically.

Daily transactions on Shibarium have consistently come out above 7 million this week, bringing the total transactions on the network above 51 million. If this continues, then the burn rate could continue to rise as more usage of the L2 means more fees being burned.

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Bitcoin Bullish Fractal Returns: Analyst Predicts Another Leg-Up With Price Target

The recent Bitcoin rally has brought a number of things to the forefront and one of those is a bullish Bitcoin fractal that has not returned in two years. Crypto analyst FieryTrading was the one to point this out in a recent analysis of the leading cryptocurrency as something that could serve as evidence that the rally will continue.

Bitcoin Bullish Fractal Makes A Comeback

The crypto analyst pointed to a previously identified channel in the Bitcoin price that could suggest a bullish continuation. This channel often results after a big pump and given that BTC has added around $15,000 to its price in the space of a month, it doesn’t get bigger than this. As a result of this, the channel has returned, suggesting that the BTC price could stick to this historical fractal.

FieryTrading identified that the fractal had appeared back in 2019 when the price jumped from around $4,100 to $5,800. After this, the fractal had completed the move, causing the BTC price to rise above the $6,800 level.

Bitcoin price chart from Tradingview.com

Then again in 2020, the fractal would reappear after the BTC price rose from around $11,000 and ended around $14,200. And just like in 2019, when the fractal was confirmed, it saw a continuation of the bullish rally which pushed the Bitcoin price above $16,000.

Most recently, after Bitcoin’s price rose from $28,000 to $41,000, the fractal has reappeared once more. “The pattern that I’m talking about is a bullish channel after a big pump that results in another big pump,” FieryTrading explains.

Bitcoin price chart from Tradingview.com

Where Does This Put BTC’s Price?

Following the previous performances of the Bitcoin price whenever this fractal has appeared, it suggests that there is still a lot of runway for the current rally. The crypto analyst used this historical performance to map out a likely path for the crypto’s price, putting the top of the fractal at $48,000.

“Seeing how the market historically behaved, I made the assumption that BTC would follow this fractal and break out of the channel in the near future. One week later, and BTC has successfully broken out of the channel, as predicted by this fractal analysis,” FieryTrading stated. “As described in my analysis below, I’m currently looking at 48k as the next target. Seeing how these fractals historically behaved, 48k should be fairly easily reached?”

If this fractal does play out the way the analyst expects, then the BTC price can be expected to add another $6,000 to its value from here before the recovery trend ends. This means that the leading crypto might see another 10% jump from its current price.

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8 Green Candles: Here’s What Happened To Bitcoin The Last Time It Appeared

Bitcoin is on an impressive run and finally broke above $40,000 for the first time in over a year. This run has been in the making for a few months with the climax coming between the months of October and December. As a result, Bitcoin has now recorded 8 green candles on the weekly chart and historical performance suggests that this is bullish for the price.

8 Green Candles For BTC On The Weekly Chart

In the last two months, the Bitcoin price has consistently closed in the green, a trend that seemed foreign only a few months ago. This green trend has continued through November which was expected to be a bearish month and with the start of December, Bitcoin saw another green weekly close.

During this time that the BTC price has seen consistent green closes on the weekly chart, the price has gone from as low as $27,000 to as high as $42,000. This means that the price has risen approximately 50%, adding around $15,000 to its value in this two-month period.

This comes amid a time of polarizing views between the bulls and the bears despite the bullish indicators continuously winning out. The gains of the last eight weeks have completely washed out a year of intense bearish headwinds and have seen the Bitcoin price completely recover all its losses from the FTX collapse, as well as its far-reaching contagion.

Bitcoin price chart from Tradingview.com (8 green candles)

What Happens To Bitcoin The Last Time?

With Bitcoin, historical performance can often be a good pointer to future performance, especially when important trends are being repeated. For example, the last time that the digital asset confirmed 8 green candles on the weekly chart, the price exploded not too long after.

This is seen back in 2017 right at the start of the bull market where the price went from around $1,100 to $2,900 before a slight pullback. However, once the pullback was over, the price would begin another uptrend that would send Bitcoin above $10,000 for the first time ever.

If this trend were to repeat itself this time around, then a pullback from this level is likely, but not expected to last. The resulting pump from the pullback will likely be the confirmation of the bull market, leading to a new all-time high price.

Bitcoin has also done incredibly well following 8 green candles on the daily charts. As reported by NewBTC, the Bitcoin price has also risen quickly when these green candles appear. As such, it is an all-around bullish signal for Bitcoin.

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LUNC Stuns With 300% Gains, Can It Reach Its Previous ATH Market Cap?

The Terra Classic (LUNC) price has been on a tear recently and over the last month, it has managed to outperform almost every cryptocurrency in the market. Its price has risen over 300% in a 30-day period, and this has brought its market cap back over $1.5 billion once more. As the coin continues to outperform, the possibilities of it returning to its previous all-time high market cap become greater.

LUNC Price Breaks One-Year High

Following the Terra collapse in 2022, the LUNC (then known as LUNA) price crashed completely, going from above $100 to less than $0. This has continued through the last year especially as the LUNC supply has swelled to over 6.5 trillion.

As the price has plunged, so has the market cap. But with the recovery in price so far, the jump in market cap has come as no surprise. However, it is still a long way from its all-time high market cap of $45 billion which was reached back in 2021.

Now, if LUNC were to return to this all-time high market cap once more, it would be a significant increase from its current price. But it will still be a long way from its ATH price of $$120. At a market cap of $40 billion, the price of the altcoin would be just around $0.007.

This would mean a more than 10x increase from its current price. However, it’ll still be very low compared to its previous price as well as the price of the new LUNA token which was launched in 2023 and is already trading above $1.

Terra LUNA LUNC price chart from Tradingview.com

Can Terra Classic Break Previous ATH?

The LUNC community has implemented a burn initiative to reduce the amount of tokens in circulation. This has seen billions of tokens taken out of circulation in less than a year. Data from the LuncMetrics website shows that so far, 83.77 billion tokens have been burned since the burn initiative was introduced in 2022. However, this is only a drop in the ocean of the total token supply which numbers in the trillions.

Nevertheless, the community continues to burn tokens in a bid to drastically reduce the circulating supply. In the last seven days, a little over 5.2 billion LUNC tokens have been sent to the burn address, reducing the supply little by little.

The LUNC price is already far from returning to its past glory, but there is still a lot ahead for the coin. If it continues to perform well in the bull market, a return to the $0.01 level is a possibility. As the crypto industry grows, the likelihood of top coins crossing the $100 billion market cap becomes even more likely, signaling a better future for the altcoin.

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AVAX Uprising: Crypto Analyst Predicts Bullish Wave To Push Price To $30

The Avalanche (AVAX) price has performed reasonably well this year, going from a low of around $9 to as high as $24 before correcting back downward. Since the correction, the altcoin has been trading in a tight range around $20 and $21. However, this might not continue for much longer following one crypto analyst’s prediction.

An AVAX Bullish Wave Is Rising

Crypto analyst Babenski has unveiled their bullish prediction for the AVAX price going forward. According to the analyst, the digital asset could be poised for an incredible run that could break multiple bearish resistances to bring its price to $30.

Babenski’s analysis hinges on the EMA100 (Exponential Moving Average) which they identify as providing dynamic support for the altcoin. This began during the October rally where prices started rising and AVAX did not lose the EMA100 despite multiple corrections.

AVAX price chart from Tradingview.com

Even on the 4-hour chart that the analyst presents, the altcoin’s price also touched down toward the EMA100. But once again, this dynamic support held as the price bounced off and continued on its merry way. This suggests a lot of support for the asset at this level.

Additionally, the crypto analyst reveals that the AVAX price has also broken out of a bullish pennant. This is shown in the chart as the price resumed its uptrend above $21. This breakout “Looks bullish in short term,” according to the analyst, and could send the price to $30.

However, the bullish trend is not the only one that is spinning for the AVAX price. While bulls remain firmly in control, there is still the possibility of the altcoin losing its dynamic support. If this happens and the price drops lower, then Babenski reveals that the next significant support is located just around the $17 price level.

AVAX price chart from Tradingview.com

Avalanche Ordinals Take Center Stage

The Avalanche network has also seen a surge in its network usage that could contribute to the price surge predicted for the AVAX price. Following the Polygon network, Ordinals have also made their way to the Avalanche network and their adoption caused a spike in transaction numbers

Last week, Ordinals minting accounted for around 96% of the total transaction numbers, and as the fees on the network increased, so did the demand for AVAX. Additionally, Avalanche has debuted its new explorer after cutting ties with Etherscan. The network has now moved to a new multichain explorer for considerably cheaper than what they used to get with Etherscan.

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3 Bitcoin-Like Proof Of Work Altcoins That Could Make You A Millionaire In 2024

Bitcoin is still the leading proof of work blockchain and has already made massive moves over the years, with countless millionaires at the same time. However, with the price of Bitcoin having moved so much already, the upside is fairly limited, especially for crypto investors who do not have ample buying power to make a Bitcoin investment worth their while.

In this vein, altcoins offer the best opportunity for smaller and retail investors to make the most money. But not just any altcoins; these coins also employ the proof of work mechanism, just like Bitcoin, making them a good choice, especially when they are newly launched.

QUBIC: A Proof Of Work Coin Like Bitcoin

The Qubic (QUBIC) coin is already making the rounds on social media platforms such as X (formerly Twitter) and with good reason. The blockchain uses a proof of work mechanism like Bitcoin. Led by IOTA co-founder Dominik Schiener, it has already garnered a reasonable following based on Schiener’s reputation.

The coin is still trading well below $0.1 which could make it a good buy in the long run. With a current circulating supply of 71.425 trillion, its current market cap is currently sitting at around $200 million. 16% of the total supply has reportedly been burned already.

Nexa (NEXA) Leads POW Altcoins

Next (NEXA) is another proof of work blockchain, but unlike Bitcoin, it uses the UTXO Layer. This means that Nexa is a proof of work blockchain that is also able to support native tokens and smart contracts. To mitigate the problem of scalability often encountered by the likes of Bitcoin and Ethereum, Nexa employs Signatures and UTXO lookups.

NEXA price chart from Tradingview.com (Bitcoin altcoins proof of work)

The Nexa token is currently trending below one cent with an around $35 million market cap at the time of writing. Given the kind of run that Kaspa (KAS) had even through a bear market, it puts in perspective the opportunity that lies with this token.

Firo (FIRO)

Firo (FIRO) is another proof of work coin that also holds a lot of promise among the altcoins that fall into this category. It rebranded from ZCoin and is a privacy-first coin, meaning it mixes two of the most sought-after attributes right now in the crypto market.

Its price is $1.87 with a fully diluted market cap of under $40 million. This makes it the coin on this list with the lowest fully diluted market cap. Its price has been relatively stable for the last week, which could suggest that accumulation is happening ahead of a possible breakout.

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Top 2 Under The Radar Altcoins That Could Do A 70000% Run Like Kaspa (KAS)

Anyone paying attention to the crypto industry and altcoins in the last few months will have noticed the incredible run that the Kaspa native token, KAS, went on. When all was said and done, the token’s price had risen over 70000% from its all-time low of $0.0001699 which was recorded on June 1, 2022, according to data from Coinmarketcap.

Given that the KAS token has risen so much, all eyes are now on the next coin that could replicate this growth. With thousands of altcoins in the space to pick from, with many of them being scams, it can be daunting to know which coins have the potential for such a rally. So in this report, we take a look at two altcoins that could potentially go the way of KAS and secure massive gains for investors.

Geeq (GEEQ) Leads Low Cap Altcoins With Utility

Geeq (GEEQ) was one of the many altcoins that burst into the scene back in 2020 as the bull market took flight. In the same year, the token would hit a new all-time high. But perhaps the most alluring part of the project was the many utilities that followed suit.

As X (formerly Twitter) user Dexter lists out, GEEQ has a host of things that contribute to a bullish narrative. These include patented technology, its own payment service called GEEQ Pay, GEEQ Data, the GEEQ chain, the Internet of Things (IoT), supply chain, real-world assets (RWAs), etc.

The project is currently in the testnet phase which has often been a bullish narrative for the likes of Kaspa (KAS). When a mainnet arrives, it will make it a prominent player among established blockchains.

GEEQ’s market cap is currently sitting at less than $5 million which gives it a lot of runway to pull a run like KAS. It is also listed on multiple centralized and decentralized exchanges, including KuCoin, AscendEX, and Uniswap, among others.

Crypto total market cap chart from Tradingview.com (Altcoins KAS Kaspa)

OXBT Piggybacks Off The Ordinals Craze

As Ordinals became more of a fixture in the crypto market, multiple projects emerged that enjoyed the majority of the popularity. Some of these include the ORDI project that eventually scored a Binance listing and its price soared above $20 sending its market cap to $400 million.

However, others such as OXBT (Ordinals) were right behind ORDI and have enjoyed a good level of success as well. OXBT’s price rose as high as $70 before falling more than 99%. But still remains one of the largest Ordinals tokens in the market.

For OXBT, which is currently sitting at just a $4.1 million market cap, the bull narrative lies in the fact that Ordinals could make a comeback. This is not the first time that a narrative could be seen as over but yet come back stronger. Even the Ordinals have already proven this is possible. In such a case, then OXBT would be right behind ORDI and a run up to a $400 million market cap would mean a 100x, and could go higher as the bull market rolls around, performing similarly to Kaspa (KAS).

“Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.”

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Ethereum Return To $4,800: Analyst Identifies Pattern To Trigger Rally To ATH

The Ethereum price has been trading more than 50% below its all-time high of $4,800 for the better part of a year now with no sign of returning to its previous all-time high. However, this slow trend may not continue for much longer as a crypto analyst has identified a pattern that could trigger a rally to its previous highs.

Ethereum Stuck Inside A Bullish Triangle

In an analysis that was posted on TradingView, crypto analyst FieryTrading identified a unique pattern that the Ethereum price has been trading in for almost two years. This pattern is a bullish triangle pattern and it has persisted for more than one and a half years.

Looking at the chart, the Ethereum price has not deviated from this bullish triangle and has not had any success breaking out of it. The triangle began toward mid-2022 when the Terra Network collapse triggered a crypto market-wide crash. Then even with multiple major recoveries since then, the altcoin’s price remains inside this triangle.

Ethereum price chart from Tradingview.com

The lower end of this bullish triangle is at $887 which is the cycle low, and the upper end has been tracked at just above $2,100. Given this range, it suggests that for Ethereum to break out of this bullish triangle, it would have to clear the $2,200 resistance.

What Happens If ETH Breaks Out Of This Pattern?

As the crypto analyst highlights, a breakout of this pattern would lead to a massive rally. The top of this breakout rally could eventually see the Ethereum price return to its 2021 all-time high levels, reaching above $4,800.

Ethereum price chart from Tradingview.com (crypto analyst)

“In my eyes, a break out from this pattern might result in big gains for ETH, since it will burst through an area full of short-trade stop-losses which will be forced to buy back their positions,” FieryTrading said. A move to $4,800 would translate to a 130% increase from its current price levels.

However, the crypto analyst explains that this could be more of a long-term performance, so it is possible that the cryptocurrency will not complete this move until at least the year 2024. But it paints a good, bullish picture for the altcoin going forward.

On its own this year, the Ethereum price has performed quite well, especially over the last 30 days. Data from CoinMarketCap shows that ETH’s price has risen 16.53% in one month to break above the $2,000 resistance which has now turned into support.

Ethereum remains the second-largest cryptocurrency with a market cap of approximately $250 billion.

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Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?

Shibarium, the Ethereum Layer network from the Shiba Inu team, has had a rocky few months following its highly anticipated launch. After surging immediately following its launch, its figures dropped as interest waned. However, there has been a change in the performance as transaction numbers are spiking once again.

Transaction Numbers Jump 288% On Shibarium

In the last few days, there has been a marked increase in the number of transactions carried out on the Shibarium network. The Shiba Inu Layer 2 blockchain saw a nice jump from November 19 to November 22.

On November 19, the total number of transactions on the network was 8,930. But as of November 22, this figure is sitting at an impressive 34,670 transactions. This represents a 288% increase in the space of three days. As a result, the total number of transactions carried out on the network since inception has now crossed 3.578 million.

Shibarium Shiba Inu

There was also a small uptick in the number of active accounts on the network, albeit to a smaller extent compared to the transaction count. Active accounts went from 569 on November 20 to 648 on November 22.

However, amid all of these, the amount of new blocks created on the network took a nosedive. Between November 20 and November 22, the number of new blocks created on Shibarium went from 17,214 to 13,907, a 20% decrease in two days.

Shiba Inu price chart from Tradingview.com (Shibarium)

Why Is Shiba Inu Price Down?

Despite the immense growth recorded in the Shibarium over the last few days, the Shiba Inu price has not followed this trend. Rather, the meme coin is seeing losses, especially on the 24-hour chart and this can be attributed to the general crypto market downtrend.

The crypto market saw a crash after Changpeng Zhao announced he would be stepping down as the CEO of Binance and that the exchange had agreed to a $4 billion fine with the DOJ. As a result, the price of Bitcoin dropped from above $36,000 to mid-$35,000s before recovery. However, the damage was already done and it dragged the altcoin market down with it.

Currently, the price of Shiba Inu is down 3.62% to trade at $0.000008061. This decline follows the Bitcoin trend, suggesting that a recovery in the Bitcoin price would translate into a recovery in the Shiba Inu price as well.

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Did JPMorgan Secretly Buy 7.5 Million XRP? Here’s What We Know

The crypto rumor mills have been abuzz lately with talk of JPMorgan, a US megabank, secretly buying XRP tokens. This rumor has gained ground and in the course of its spread, has garnered the attention of the crypto community as they dissect it.

JPMorgan Reportedly Buys 7.5 Million XRP

The first reports of this rumor emerged after a news report citing a leaked report, claimed that the investment giant had actually bought 7.5 million XRP tokens. This rumor quickly made its way to social media where users on platforms such as X (formerly Twitter) have spread it widely.

One of the most prominent reposts of the article includes that of Amelie, a German influencer with over 27,000 followers on X. As the rumors gain more popularity, it has also come under scrutiny due to its lack of evidence and the fact that the numbers do not add up.

For example, one X user points out that the article says that the 7.5 million XRP reportedly bought by JPMorgan makes up 7.5% of its portfolio. However, this would mean that JPMorgan’s total portfolio would have to be worth $6.2 billion as opposed to its actual $440 billion value.

There have also not been any official statements from JPMorgan about buying XRP or actually holding any cryptocurrency in their portfolio. Interestingly, JPMorgan actually launched its own JPM Coin which will reportedly be used to carry out $10 billion in daily transactions.

XRP price chart from Tradingview.com (BlackRock JPMorgan)

Adding BlackRock To The Debate

The rumors have also included BlackRock showing an interest in XRP but so far, there has been no indication that this is the case. The only time that BlackRock has been heavily mentioned around XRP communities is when a fake filing of a BlackRock XRP ETF showed up on the Delaware Corporation website.

This fake filing has since been taken down and the Delaware authorities have reportedly begun their investigations to figure out the party or parties that were behind the fake filing.

XRP influencer CryptoInsightUK also took to X (formerly Twitter) to debunk the rumors of BlackRock buying the token. He referred to it as a “stupid rumor” and that it is untrue, advising investors to not be distracted by the “noise.”

Although JPMorgan and BlackRock are not going in on XRP, banks all around the world are reportedly trying to tap into the potential. A new report from the Basel Committee on Banking Supervision (BCBS) revealed that the token currently ranks third in the list of digital assets held by global banks. XRP reportedly makes up 2% of the 9.4 billion euros that these banks have invested in digital assets, meaning they hold around 188 million euros worth of XRP.

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AVAX Open Interest Climbs 10.4% To $224 Million, Is $30 Possible?

The open interest for AVAX has been on a consistent rise over the last month, carrying the price of the altcoin along with it. The result of this continuous climb is the fact that the open interest has now surged to May 2022 levels, a development that could spell a massive rally for the price.

AVAX Open Interest Surge To $224 Million

According to data from Coinglass, the AVAX open interest has now climbed to $224 million. The website shows that there was an over 10% increase in the open interest in a 24-hour period which brought the total open interest above 10.04 million AVAX.

Binance actually commands almost half of the total of this open interest at 4.48 million AVAX worth a little over $100 million. This suggests that a good portion of the demand is coming from the crypto exchange. The total open interest also saw a 9.94% increase in the 24 hour period.

AVAX open interest

ByBit exchange accounts for the second-largest open interest at 2.04 million AVAX worth $46.09 million. BingX comes in third place with 1.24 million AVAX worth $27.59. But none of these exchanges account for the largest jump in the last day.

The largest jump in open interest was recorded on the Bitmex exchange as it rose 17.78% to bring the crypto exchange’s total open interest to 55,340 AVAX with $1.53 million. Altogether, the open interest in the altcoin has risen from $82.8 million on October 20 to $224 million on November 20, meaning that the open interest has grown 170% in one month.

AVAX price chart from Tradingview.com (Open interest)

Can Price Cross $30?

The last time that the AVAX open interest was this high, the price was trading much higher which opens the possibility of a rally above $30. As Coinglass data shows, the last time that the open interest crossed $220 million was in May 2022 when the price was still trading above $50.

Also, taking a look at AVAX’s historical performance, it shows that whenever the open interest has risen quickly, the price tends to follow suit. This was the case back in August 2021 when the open interest went from $14.53 million to $123.5 million, and the AVAX price rose accordingly from $19.15 to $55.

If the same trend were to take place here, then $30 may only be a starting point for the AVAX price. Following all historical performances, the current volume of open interest puts the AVAX fair price at around $40, meaning the altcoin could be trading well below its fair value.

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Cardano Falling Wedge Pattern: Analyst Predicts 100% Increase Following Breakout

Cardano may not be a top gainer in the crypto market but that does not mean that it has fallen behind. During the altcoin rally, the price of Cardano’s native coin ADA has gone from a low of $0.25 to a high of almost $0.4 before correcting back downwards. This positive trend has been preserved even through the crypto market dip and it seems that there is only one thing in the way of Cardano’s rise to a new yearly high.

Falling Wedge Pattern Holds Back Cardano

According to a crypto analyst on the TradingView website, the one thing that is holding back the Cardano price from mounting a full-blown rally is a falling wedge pattern which it is currently stuck in. This falling wedge pattern has appeared as the ADA price has retraced and then eventually recovered.

The crypto analyst who goes by CobraVanguard identifies this falling wedge pattern as the important pattern to break for ADA. As with any cryptocurrency, if ADA is able to break out of this pattern, then a massive rally could follow, ending in a high peak.

Cardano price chart from Tradingview.com

CobraVanguard’s price target after breaking out of this falling wedge pattern is over the $0.7 level. Following this trend would mean that the ADA price could rise another 100% from its current level, putting it on a recovery path similar to that of Solana (SOL).

The initial target for this recovery is at $0.57 where a small retrace is expected. Afterward, the crypto analyst sees another surge that takes it straight through the $0.78 mark. Then just below $0.8 is where resistance is expected.

Cardano price chart from Tradingview.com (ADA crypto analyst0

ADA Whales Ramping Up Their Activity

As the bull case for Cardano continues, the ADA whales are not being left in the sidelines. As data from IntoTheBlock shows, these large investors have been increasing their activities across the network, especially in the last day.

The number of large transactions on the Cardano network, that is transactions carrying $100,000 or more, jumped significantly in the 24-hour period. November 15 numbers came out to 4,320 whereas this number grew to 6,110 on November 16.

Naturally, the transaction volumes of these large investors are also up during this time. It rose from around $7.2 billion on Wednesday to more than $10.46 billion on Thursday, with more than 27.2 billion ADA moved across these transactions.

These trends among these large investors could suggest that the anticipation for a bullish run isn’t localized to just smaller investors alone. So whales could be waiting for better prices before they begin profit-taking.