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Top 5 Cryptos Set For A Price Explosion This December – ADA, TIA, RUNE, LUNC, BTC

As the year draws to a close, cryptocurrency enthusiasts are eagerly anticipating a potential boom in the market, especially for the top 5 cryptos we have examined below, with December poised to be a pivotal month for digital assets.

Among the myriad of cryptocurrencies, five stand out as prime candidates for a major price explosion. Cardano (ADA), Celestia (TIA), THORchain (RUNE), Terra Classic (LUNC), and the perennial giant Bitcoin (BTC) have captured the attention of investors and analysts alike.

With unique features, strong fundamentals, and a buzz of anticipation surrounding them, these top-tier cryptos are positioned to make significant moves in the coming weeks, potentially reshaping the landscape of the crypto market.

Top 5 Cryptos Set To Rally This December

Bitcoin (BTC)

Bitcoin is moving rapidly in the direction of the $40,000 mark. The potential approval of a Bitcoin ETF by the Securities and Exchange Commission is one of the many variables driving the price of bitcoin.

In the 24 hours leading up to early Friday morning, the price of bitcoin increased 3.2%, reaching approximately $38,856, according to statistics provided by price tracker Coingecko. Coincodex has a more bullish prediction for Bitcoin, seeing the crypto hitting $58K in the coming month.


Source: Coincodex

Analysts such as CryptosRUs anticipate that Bitcoin will soon reach $40,000 and even more, pointing to the impending halving event and possible approvals for ETFs as major catalysts.

Cardano (ADA)

As November came to an end, Cardano (ADA) saw a 30% increase in price, marking its second consecutive month-over-month gain. Around the present rates, bullish traders have actively placed orders to buy an additional 41.7 million units of the coin, greatly outnumbering sell orders.

According to cryptocurrency expert Crypto, ADA can surpass the $0.90 threshold in less than six months. The primary cause is the explosive growth of decentralized banking apps on Cardano, with a $250 million increase in total locked value over the previous year from $50 million.

Analyst Ali Martinez projected in November 2023 that ADA would reach annual highs, which would be advantageous for the coin’s prospects in 2024.

Celestia (TIA)

Because Celestia (TIA) is the industry’s first modular blockchain network and has huge future potential, market experts believe it will be a worthwhile investment in 2023.

The price behavior of Celestia (TIA) shows a bullish pattern, with local support at $6.20 and resistance at $7.27. Following the breakdown of the resistance, experts predict a possible rally toward $8.

Bulls claim that TIA may rise as high as $9.70 by the end of 2023, despite the fact that the Celestia mainnet went live on October 31.

Crypto Year-End Rally

THORChain (RUNE)

The value of THORChain (RUNE) increased from $3.76 last week to $6.35 by the end of November, a 70% increase driven by the rise of THORChain as the second-largest decentralized exchange.

Overall, the coin’s mood is still positive. Forecasts for the end of 2023 indicate that there may be a peak at $10.2, with crucial support levels between $3.4 and $4 being essential to maintaining this development trajectory.

The price of THORChain (RUNE), a decentralized liquidity protocol token, is continuing to rise, exhibiting a bullish bias in its trade.

Terra Classic (LUNC)

Completing our list of the top 5 cryptos for the weekend is the Terra Classic (LUNC). The past month has seen tremendous price action for LUNC; in just one day, the token has increased by over 22%, and over the course of the previous month, it has increased by almost 130%.

Following a significant price increase, traders are talking favorably about LUNC. After its recent collapse, sentiment analysts predict that the tokens will see a resurgence in value.

The cryptocurrency will most likely reach $0.001 by 2024 if the bullish trend for LUNC continues and additional ecosystem growth takes place, even though short-term price behavior is unpredictable.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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RUNE Solid 100% Rally Hits Barrier: THORChain Price Nears Key Resistance

THORChain’s price has been up by over 100% since the last week of October, hitting levels not seen since May 2022. This is an amazing increment in price. But caution is advised since RUNE, an altcoin, seems overbought, possibly signaling a 20% drop in the near future.

At the time of writing, RUNE was trading at $3.42, climbing over 15% in the last 24 hours, and registering an impressive 37% rally in the last seven days, figures by CoinMarketCap shows.

RUNE: Potential To Reverse Bearish Trajectory

If RUNE closes above the psychological $3.500 mark, it could negate the present downturn and cause the bearish attitude to change. The significance of RUNE closing above the critical $3.500 mark lies in its potential to reverse the prevailing bearish trend and trigger a shift in market sentiment.

Achieving this milestone could signify a break in the current downtrend, potentially instigating a more positive outlook among investors and traders.

THORChain underwent a notable phase of consolidation, a period marked by relatively stable prices and limited fluctuations. Following this consolidation, the market witnessed a substantial surge, propelling THORChain’s price upwards by over 40%.

However, in the aftermath of this surge, the price has demonstrated a consistent stability, remaining within a relatively similar range. This stability has coincided with a broader downturn in market dynamics, where fluctuations and overall activity have shown a decrease across the market.

Despite the prior surge, THORChain’s price has maintained a consistent level, reflecting a degree of resilience amid the current market trends.

The RUNE token holds a substantial long-term liquidation value surpassing $70 million, signifying a considerable reserve or potential value inherent in the token’s existence. However, a cautionary note emerges from the chart analysis, which reveals a prominent positive deviation highlighted in green.

This deviation might signify an impending decrease in price in the near future, suggesting a potential shift or correction in the market valuation of the token. This could prompt investors to stay vigilant and consider potential fluctuations in the token’s value in their future investment decisions.

The price of RUNE garnered significant attention subsequent to a substantial market surge, as the cryptocurrency experienced a portfolio increase of more than 40% inside that period.

Signs Of Market Correction For RUNE?

Analyzing the technical indicators, THORChain reveals an RSI figure of 72.24, typically signaling overbought conditions when surpassing 70. This situation hints at the possibility of profit-taking or a slight downturn in the coming days.

Despite indicating a robust bullish sentiment with an RSI above 50, THORChain might be treading into overextended territory, potentially requiring cautious observation for signs of a market correction or adjustment.

Meanwhile, according to Santiment’s research, there is a decline in the social dominance of the RUNE cryptocurrency, which means there is less of a presence and conversation on social media. When conversations do happen, they usually center on the altcoin’s remarkable rise, which may allude to investor anticipation of an upcoming fall.

In line with this reality is the rising open interest, which is the sum of all long and short positions in the market. After such a meteoric increase of 120%, short sellers should outnumber long sellers for RUNE among traders.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Pepe Conquers The Weekend Charts With 61% Rally – Here’s Why

Amidst the crypto market’s recent surge propelled by rumors of the Bitcoin Spot ETF approval, PEPE, a noteworthy altcoin, made a strong move by announcing the burning of over $5.5 million worth of its PEPE tokens.

This smart decision resulted in a remarkable 30% surge within just 24 hours, propelling the value of PEPE to a two-month high. The surge in the crypto market triggered by the potential Bitcoin Spot ETF approval provided the perfect backdrop for PEPE’s strategic action, marking a significant upward shift in its value and indicating a resurgence in the altcoin space.

PEPE’s Impressive Market Performance

Recent data from crypto market tracker Coingecko highlights the impressive market performance of Pepe Coin. In the past week, the price of the meme coin has demonstrated an outstanding 61% surge, currently resting at $0.000001207, which marked a 0.84% gain at the time of this writing.

This sustained upward trajectory not only underscores the coin’s resilience but also positions it as a significant player in the volatile crypto market, showcasing remarkable growth over a short period.

Anticipations in the market for Pepe Coin suggest an imminent test of buyers’ resolve around the support level. Observers foresee a scenario where a substantial influx of aggressive purchases during a price dip could trigger a strong rebound for the Pepe coin.

If this support indeed materializes, the coin is poised to potentially surge beyond the $0.0000019 mark. This projection not only signifies an opportunity for market momentum but also points to a critical juncture that could shape the near-future trajectory of Pepe’s value.

The fervor surrounding Pepe, the memecoin sensation, intensified as the cryptocurrency surged an impressive 38% following the much-anticipated release of its latest updates. Notably, Pepe Coin unveiled a fresh team of advisors, marking a pivotal strategic move aimed at shaping the coin’s future trajectory.

Amidst a week of substantial fluctuations in the crypto market, the spotlight fell on meme coins, with PEPE coin making a prominent appearance by almost doubling its value, reaching a market cap of $500.

The Growing Appeal Of Meme Coins

The success of PEPE coin signifies the growing influence and appeal of meme-based cryptocurrencies, which often rely heavily on online communities and social media engagement. The enthusiasm surrounding these coins is fueled by a combination of factors, including social trends, speculative trading, and the potential for quick, albeit risky, returns on investment.

However, it’s important to note that the extreme volatility and speculative nature of meme coins can lead to unpredictable price swings and potential risks for investors.

Elon Musk’s recent announcement regarding the incorporation of various payment methods into his platform, X, has sparked considerable interest and activity within the market. As the excitement surrounding the Bitcoin Spot ETF gradually subsided, the attention of the crypto market shifted towards meme coins.

Specifically, the PEPE team’s decision to burn roughly 7 trillion tokens emerged as a key driver in the recent growth pattern. This strategic move significantly reduced the coin’s supply, potentially contributing to the increase in its value.

These collective events underscore the dynamic nature of the cryptocurrency landscape, where strategic decisions and external endorsements wield substantial influence over market sentiment and value fluctuations.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Bitcoin SV (BSV) Erects A Solid 64% Growth In Just A Week – What’s The Story?

Following its inclusion in Binance’s futures trading options, one of the top global cryptocurrency exchanges, Bitcoin SV (BSV) saw a significant 64% gain in value this week. After splitting out from Bitcoin Cash (BCH) in late 2018, BSV is now trading at $54.02, a significant increase from $34.08 just a week earlier.

On Saturday, BSV reached a significant peak of over $58 on prominent spot markets. The last instance in which BSV was observed trading above $58 occurred in mid-September 2022. Since its notable surge on September 27th, the price of the crypto has experienced a substantial increase of more than 90%.

The price of Bitcoin SV reached an all-time high of $491.64 during the previous bull run. However, the market crashed, sending the coin tumbling more than 95%. Following rumors of the adoption of a Bitcoin ETF, the price of BSV has begun to move bullishly and is currently trading at an 89.19% discount to its previous ATH.

Bitrue, a widely used centralized exchange platform, has recently included BSV in its USDT pair and initiated a promotional campaign offering a $1,000 welcome bonus. This exchange is notably favored by the XRP and Ripple communities.

Bitcoin SV: Reclaiming Satoshi’s Vision With Larger Blocks

Bitcoin SV (BSV), designed as a peer-to-peer electronic cash system, asserts that it embodies the original vision of Bitcoin’s creator, Satoshi Nakamoto, despite the controversial claim made by its creator, Australian computer scientist Craig Wright, who many in the crypto community dispute.

BSV seeks to address the efficiency issues seen in Bitcoin (BTC) and Bitcoin Cash (BCH) by substantially increasing block size to minimize transaction fees.

In the beginning of the year, BSV coin was trading in the range of $39.50 to $44.75 until March, after which it saw a decline and traded between $34.90 and $39.40 until May. This was followed by relatively minor fluctuations before another drop, where the price ranged from $29 to $34.90.

In June, BSV reached an all-time low, but later gained momentum, surging and subsequently facing rejection around $56.47, resulting in a 50% drop. The coin then traded between $34.93 and $39.54 for a period, followed by another decline.

BSV Price Surge Tied To SEC ETF Speculation, Intra-Community Disputes

A sudden increase in the value of Bitcoin SV (BSV) has occurred recently, and some analysts have linked it to the possibility that the U.S. SEC may approve a spot Bitcoin ETF. Given the current disputes within the BSV community—Christen Ager-Hanssen, a well-known BSV supporter, resigned as CEO of nChain due to a disagreement with BSV leader Craig Wright—this demonstration is significant.

In summary, the future trajectory of the BSV price is contingent upon the successful breach of the significant resistance level at $56.48 by bullish market forces. This breakthrough has the potential to entice fresh investors and then challenge the higher barrier level at $61.99.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Blockchain Company LBRY Shuts Down After Legal Battle With SEC

LBRY Inc., a cryptocurrency platform, announced its closure due to a court failure against the Securities and Exchange Commission (SEC). The SEC charged LBRY with making an unregistered securities offering by selling its native LBC tokens.

The fallout from this legal fight has prompted worries about unequal access to justice and regulatory overreach in the crypto business, which has disproportionately impacted smaller startups with minimal financial resources.

LBRY Inc. reported that the company was compelled to discontinue operations because of obligations owed to the SEC, legal team, and private creditors totaling several million dollars.

LBRY’s Financial Struggles

The SEC first sought a $22 million penalties, which was later lowered to $111,614. This lowered fine was a major financial blow for LBRY, making it impossible for the company to continue operations.

The scenario exemplifies the difficulties that crypto businesses can face when they are pursued by regulatory agencies, particularly smaller startups with minimal financial resources.

The SEC has been accused of regulatory overreach in pursuing LBRY, with critics suggesting that the agency should focus on big issues in the crypto business rather than minor instances of securities noncompliance.

However, this case highlights the SEC’s ability to control the cryptocurrency market through enforcement proceedings.

Ripple’s Contrasting Legal Victory

The downfall of LBRY contrasts sharply with Ripple’s recent court success in its ongoing struggle with the SEC. Ripple acquired funding from a multibillion-dollar corporation, allowing it to continue its legal battle.

While LBRY Inc.’s controlled operations are ending, the LBRY blockchain, an open-source initiative, may continue to exist if sufficient user engagement is obtained. However, the business stated that decentralization may only succeed if active development and user participation are present.

With millions of registered users and a large volume of published material, the LBRY blockchain acted as a decentralized file-sharing network. Odysee, a decentralized social networking platform built on the LBRY blockchain, has a substantial user base. However, its future is now in doubt.

In a broader sense, the legal disputes in the crypto business are altering the securities law landscape. Both LBRY and Ripple have been accused with selling unregistered securities, but their outcomes have set developing precedents.

These results have prompted concerns about the SEC’s capacity to win legal battles against other crypto businesses.

As LBRY succumbs to regulatory pressure, it represents the obstacles encountered by smaller crypto businesses, as well as the broader issue of unequal access to justice in the cryptocurrency industry’s growing regulatory context.

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Solana Outshines Rivals On Weekend Top 10 Roster With 18% Rally

Solana experienced a significant surge of approximately 20% during the last few days of September and into the first week of October. This sudden price increase has piqued the interest of investors and enthusiasts alike, sparking discussions about its underlying causes.

One prominent question on people’s minds is whether this uptick in SOL’s value is directly correlated with Bitcoin’s performance during the same period or if there are distinct factors driving SOL’s price rise independently of Bitcoin’s movements.

Before this increase, SOL had a tough time because a U.S. court allowed the sale of $1.3 billion worth of SOL from the bankrupt exchange FTX. So, there’s curiosity about whether SOL’s recent price jump is connected to Bitcoin or if there are other factors behind it.

Solana: Challenges And Market Allure

The Solana (SOL) blockchain network has seen recent difficulties, however it has garnered significant attention and demand in the market. Despite the lackluster price performance of its native token, the proof-of-stake (PoS) network has utilised the bear market to improve its technological capabilities and forge important alliances with prominent entities in the realm of traditional banking.

The bankruptcy court has implemented mechanisms to mitigate the potential adverse impact of FTX asset liquidation on the cryptocurrency market. These measures involve mandating the sale of assets through a financial advisor in weekly installments, adhering to predetermined regulations.

At the time of writing, SOL was trading at $23.43, down a measly 0.3% in the last 24 hours, but gained sustained an 18% rally in the last seven days, data from crypto market tracker Coingecko shows.

SOL Liquidity Soars With Network Stability

Nansen, an on-chain analytics firm, recently published a report on Solana, highlighting its key strengths and potential. Solana is known for its cost-efficiency and high-speed transactions, earning it the nickname “The Ethereum Killer.” It boasts a transaction processing speed of over 3,000 transactions per second, which is nearly 30 times faster than Ethereum.

The chain’s liquidity improved as a result of the dramatic increase in network stability. At press time, the TVL in terms of SOL was $27.12 million, more than double what it was at the start of the year.

Solana’s Rise Fueled by DApps And NFTs, Targets 5th-Largest Crypto Spot

The surge of SOL was further bolstered by the expansion in the adoption of decentralized applications (DApps) and the rise in nonfungible token (NFT) volumes on the Solana blockchain.

The current price of SOL is now making efforts to establish a support level at $23, aiming to solidify its position as the fifth-largest cryptocurrency (excluding stablecoins) in terms of market capitalization.

Meanwhile, recent updates to Solana Compass have revealed details about recent activities on the Solana network, particularly during the 512 epoch.

The website that keeps tabs on SOL staking activity suggests that there were around 19.637 million SOL coins that were unstaked during this time.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Bitcoin Cash Bulls Charge: 13% Price Rally Driven By Fresh Demand

The price of Bitcoin Cash has experienced significant rise over the course of the last 30 days, resulting in favorable returns for investors. Since July, BCH holders have continuously maintained a positive perspective, which has reduced the frequency of selling activity. This collective sentiment has played a significant role in the upward trajectory of BCH, consequently yielding favorable outcomes for these holders.

The price of BCH has increased by about 13% over the previous week, giving it some of the biggest gains in the last seven days for cryptocurrency assets. According to CoinMarketCap data, the altcoin was trading at $234.78 at the time of publication.

The value of the world’s cryptocurrency market dropped to $1.06 trillion at the time of writing, a 0.1% decrease in a day. On Thursday, ETH increased by about 0.8% to $1,629, while Bitcoin (BTC) rose slightly above the $27K level.

Can Bitcoin Cash Reach New ATH This Year?

BCH is anticipated to undergo a trial of the support line at a value of $229, after which a subsequent rebound is projected. The breach of the current barrier at $253 is crucial for the potential rise of the altcoin. If this level is surpassed, it might pave the way for the altcoin to achieve new 2023 highs, beyond the $300 mark.

Bitcoin Cash has increased by a remarkable 90% in the last six months, demonstrating strong performance. Furthermore, the price of BCH has been up significantly by 136% so far this year, maintaining a favorable return.

Santiment research indicates that whales in the cryptocurrency space have increased their holdings in Bitcoin Cash significantly. Collectively, bitcoin whales with holdings ranging from 100,000 to 10 million BCH held 3.74 million BCH as of September 18, 2023.

Long-Term Holder Addresses Up

But on September 26, their holdings had increased to 3.86 million BCH, showing a noteworthy acquisition of 120,000 BCH in just one week. Their balances are now comparable to what they were in July 2023 thanks to this accumulation, and the 120,000 BCH that the Bitcoin Cash whales purchased are worth about $25.6 million at the current market price of $213 per BCH.

Meanwhile, the increase in long-term holders of Bitcoin Cash indicates a positive outlook for the cryptocurrency’s sustainability. These committed investors, who believe in BCH’s long-term potential, contribute to a stable user base and network demand. This support from long-term holders, combined with whale accumulation, could help BCH reach or exceed $300 in the future

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Tron TVL Balloons To Over $15 Billion: DeFi Growth Evident?

The Tron (TRX) DeFi ecosystem has experienced a notable surge in activity, signaling a substantial period of growth and development. This expansion isn’t limited to the realm of decentralized finance alone; recent data underscores a correlated upward trajectory within Tron’s TRX token staking ecosystem.

This trend suggests that both DeFi and staking on the Tron blockchain are witnessing increased interest and participation from users and investors, thereby fostering a more robust and dynamic Tron ecosystem.

But, there’s more interesting side of the narrative that has provided Tron a major lift. In recent days, Tron has observed a notable uptick in its Total Value Locked (TVL) metric, signifying an increase in the value of assets participating in various activities within the Tron ecosystem.

Tron TVL Swells To Over $15 Billion

At press time, the TVL associated with TRX has surged to an impressive $15.8 billion, reflecting a substantial growth rate of more than 2% within the span of just 24 hours.

This noteworthy upswing in TVL underscores a heightened level of engagement and confidence among users and investors in Tron’s blockchain and associated DeFi protocols.

Total Value Locked is a crucial metric in DeFi, representing the total value of assets locked within a specific DeFi platform or protocol, typically measured in US dollars. It encompasses assets used as collateral, liquidity in trading pools, staked tokens for rewards, and governance participation.

TVL is essential for assessing a DeFi project’s health, security, and attractiveness to users and investors, and it plays a vital role in risk evaluation and competition analysis within the DeFi ecosystem.

TRX Sustains 6% Climb In The Last Week

At the time of writing, TRX is trading at $0.088, down a measly 0.1%, but notched a decent 6.0% gain in the last seven days. TRX maintained its remarkable rise on Friday due to an increase in demand for the coin.

The token reached its highest point at $0.090 since July 22nd. It is one of the top performing major cryptocurrencies of the year, close to its all-time high of $0.094.

Tron stands out as the most active cryptocurrency in the industry, boasting stablecoins valued at over $44.5 billion and a user base exceeding 1.47 million, surpassing Ethereum and BNB Chain.

The success of Tron is attributed to the strong performance of USDD, a stablecoin launched in 2022, which has maintained its peg through an over-collateralization strategy. The strong crypto market, with Bitcoin reaching $27,000 and XRP rising to $0.052, also helped TRX price surge.

Meanwhile, TRON’s blockchain has seen significant growth recently. The total number of addresses, based on TronScan data, on TRON reached almost 187 million, and the total transactions surpassed $6.4 billion.

Additionally, TRON’s staking ecosystem has been thriving, with the staked amount of TRX reaching 46.8 billion, with 23.12% in Stake 2.0 and 76.88% in Stake 1.0. Stake 2.0’s increasing share indicates its rising popularity in the blockchain space.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty

Polkadot (DOT) is making strategic moves to propel its development forward as bearish market conditions continue to cast a shadow over the crypto landscape. In recent weeks, the network has shifted its focus away from speculation, opting instead to double down on its commitment to technological advancement. 

This move was evident in the multiple presentations it delivered, shedding light on its ongoing efforts and its ambitious goal of achieving 1,000 parachains.

A Paradigm Shift In Polkadot’s Strategy

In a landscape where various blockchain networks are fiercely vying for cross-chain dominance, Polkadot is emerging as a formidable contender. The Sub0 developer conference served as a platform for the network, reaffirming Polkadot’s commitment to cross-chain integration and the immense potential it holds.

The implications of this move are profound. Polkadot envisions a future where parachains, interconnected through its innovative architecture, foster a thriving ecosystem of decentralized applications, each with its unique use cases and communities. This holistic approach to blockchain interoperability opens up vast opportunities for developers and users alike, promising seamless interactions between disparate blockchain ecosystems.

Navigating Choppy Waters: DOT’s Price And Sentiment

DOT price has been navigating choppy waters since February. As of the latest data, DOT is trading at $4.01, according to CoinGecko, with a 24-hour movement of 0.1% and a seven-day decrease of 4.3%. This downtrend has led many to wonder if DOT can regain its bullish momentum in a bearish market.

On-chain data cited in a report suggests a glimmer of hope, indicating a slight improvement in DOT’s weighted sentiment over the last three weeks. This uptick in confidence among traders suggests that some believe in DOT’s potential for an eventual upswing, though it has yet to manifest in price action. 

Looking Ahead: DOT’s Prospects In A Bearish Altcoin Market

As cryptocurrency analyst Benjamin Cowen suggests, altcoins, including DOT, may face challenges throughout the remainder of 2023, a pattern often observed in pre-halving years. Nevertheless, Polkadot’s recently unveiled plans and its unwavering commitment to technological innovation position it favorably for the long run.

The network’s vision of a cross-chain future, with an expanding parachain ecosystem, could serve as a catalyst for renewed investor interest and a potential bullish reversal.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Binance Coin Price Prediction: Will Correction Trend Push BNB Under $200?

Binance Coin (BNB) has experienced a notable setback, retracing from its overhead resistance for the third time in just two months. This downward trajectory has formed a falling wedge pattern, a technical indicator characterized by declining peaks and troughs confined within two converging trend lines.

As of the latest data from CoinGecko, BNB is currently trading at $214.94, with a 24-hour decline of 0.9% and a modest seven-day gain of 0.6%. On August 31, the BNB price dipped below the critical $220 local support level, signaling the possibility of further bearish movement.

However, amidst the prevailing market uncertainty, BNB’s price has turned sideways, leaving both buyers and sellers in a state of indecision.

The falling wedge pattern, often referred to as an ending diagonal pattern, can be seen as a potential signal of exhaustion within a prevailing bearish phase, hinting at a potential trend reversal. If the recent breach below $220 fails to sustain, it could open the door for buyers to challenge the overhead resistance.

Binance Coin Potential For Turnaround

Price analysis suggests that a successful breakout from this falling wedge pattern would signify a bullish turnaround for BNB. This could potentially propel the coin’s price to target levels of $234, and if momentum continues to favor buyers, it may even reach heights of $247 or even $263.

In a parallel development, PancakeSwap (CAKE) has achieved a significant milestone in the cryptocurrency ecosystem. According to a post by glebk.eth, PancakeSwap’s monthly revenue has surpassed that of BNB Chain over the last 30 days.

PancakeSwap operates on BNB Chain due to its lower transaction costs, which allow users to swap tokens with significantly reduced fees compared to Ethereum (ETH).

Token Terminal data reveals that, as of September 6, PancakeSwap generated fees totaling $96,237, indicating a substantial increase in user transactions compared to the previous day.

In contrast, BNB Chain’s 30-day revenue stood at $931,700 on September 7. PancakeSwap’s revenue during the same period, however, exceeded expectations, reaching $970,800.

Implications For The Crypto Market

These developments in the crypto market highlight the ongoing battle between various blockchain platforms and decentralized exchanges. BNB’s struggle with overhead resistance underscores the challenges faced by cryptocurrencies in maintaining upward momentum amid market volatility.

As the crypto landscape continues to evolve, investors and enthusiasts will closely monitor these trends to assess the potential impact on the broader market and the long-term viability of different blockchain ecosystems. 

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Bitcoin Whales Load Up With $1.5 Billion Worth Of BTC Amidst Price Uncertainty

Bitcoin whales, entities holding a substantial portion of the Bitcoin supply, have ignited speculation within the cryptocurrency realm by amassing more than a billion worth of BTC in mere two weeks.

Data from crypto analytics firm IntoTheBlock reveals a significant uptick in the accumulation of Bitcoin by addresses holding at least 0.1% of the total BTC supply, valued at over $500 million each. These entities collectively added a staggering $1.5 billion to their holdings during the final two weeks of August. 

This surge in accumulation coincides with the excitement surrounding the potential introduction of a spot Bitcoin ETF in the United States. This substantial accumulation of Bitcoin by crypto whales serves as a clear testament to their growing confidence and heightened interest in the cryptocurrency, irrespective of recent price oscillations and regulatory ambiguities. 

Bitcoin Price Upsurge Amidst ETF Speculation

The chronology of this accumulation is particularly captivating. While Bitcoin’s price experienced a dip, it experienced a transitory resurgence subsequent to a pivotal court ruling linked to Grayscale’s pursuit of a spot Bitcoin ETF. The verdict translated into a price upswing exceeding $2,000, propelling the alpha coin to a two-week zenith, slightly exceeding the $28,000 threshold.

Nevertheless, just as the cryptocurrency community was poised for jubilation and pinned hopes on the ETF’s ratification, the US Securities and Exchange Commission (SEC) introduced an unexpected regulatory twist. A

dopting a circumspect stance, the regulatory authority deferred its verdict on all active Bitcoin ETF applications. Consequently, Bitcoin relinquished all its gains stemming from the brief rally triggered by the Grayscale ruling, regressing below the $26,000 mark.

Institutional Optimism Amidst Ambiguity

The current BTC price is $25,808.30 according to CoinGecko, with a 24-hour decline of 0.8% and a seven-day loss of 0.9%.

Despite the recent tumultuous price fluctuations and the ambiguity clouding the cryptocurrency market’s regulatory landscape, the continual accumulation of Bitcoin by crypto whales implies that institutional investors are cultivating an increasingly sanguine outlook regarding Bitcoin’s long-term prospects.

The prospect of a Bitcoin ETF, promising a regulated and accessible entryway for mainstream investors, persists as a game-changing possibility that could significantly reshape the crypto outlook in the United States and beyond.

While the cryptocurrency community anticipates further developments and regulatory determinations, the conduct of these crypto whales functions as a tangible gauge of swelling institutional interest in Bitcoin, fortifying the belief in its enduring value and pertinence. 

These crypto whales wield not only the power to sway the market but also reflect the sentiment and perspective of dominant participants within the dynamic domain of cryptocurrencies.

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Shiba Inu Community Burn Sees Another 350 Million Meme Coins Incinerated

The world of digital currency has brought some challenges to the Shiba Inu (SHIB) ecosystem. The ups and downs in this digital money landscape have caused the value of many coins connected to SHIB to drop, making things a bit shaky. But here’s something good: the SHIB token burn is happening faster than before.

This means they’re getting rid of more tokens, which is a positive thing. It’s like a bright spot in the midst of all these changes, showing that there’s something strong and good still happening in the SHIB world.

Based on the data provided by the Shibburn explorer, it is evident that the SHIB community has been effectively engaging in the process of burning substantial quantities of these meme coins, thereby transferring them to wallets that are rendered unspendable.

Shiba Inu: Optimism Amid Market Volatility

Even though the SHIB token has had some failures and its price has gone down, its burn rate has gone up by about 80% in the last 24 hours, according to Shibburn.

Today, the SHIB army has successfully facilitated the removal of around 350 million Shiba Inu meme coins, which were previously rendered inaccessible and excluded from circulation.

Last week, over 1.84 billion SHIB tokens were burned in approximately 255 transitions, according to Shibburn. This reduced the weekly SHIB consumption rate by 38.76%.

It took 19 transfers for the community to successfully remove 349,012,147 SHIB during the course of the last 24 hours. Burns frequently involved two or three SHIB pieces and occurred virtually hourly.

Increasing Scarcity And Value

Burning tokens, or reducing the supply of a cryptocurrency, is a common practice in the blockchain and crypto communities. As the number of coins in circulation increases, both their demand and value tend to decrease.

This activity is considered a deliberate method to increasing scarcity, which may lead to an increase in the value of the remaining tokens. This strategy is especially significant for Shiba Inu because of their abundant starting supply.

Meanwhile, as the Shibarium relaunch draws near, Lucie, a Shiba Inu team representative, has revealed some exciting news.

Lucie updates her followers on the status of Shibarium in a new tweet, letting them know that Shiba Inu Layer 2 is now operational and functioning well in private mode.

The enormous flood of users forced Shibarium to suspend soon after its launch on August 16. The group got to work right away scaling its operations and starting network deep testing.

At the time of writing, SHIB was trading at $0.00000818, down 1.4% in the last 24 hours and sustaining a 3.8% loss in the last seven days, data from crypto market tracker Coingecko shows.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Dogecoin Power Play: Robinhood Faces $16 Million Whale Exodus – Details

Despite the fact that the cryptocurrency market is always changing, Dogecoin whales have become a defining force. They are responsible for big moves that send ripples through the digital world.

Whale Alert, a blockchain tracking and analytics tool, recently found out about a huge transfer of 253,419,377 DOGE from Robinhood to an unknown wallet. This brought these mysterious entities back into the spotlight, as they always do.

As this transaction happens against the background of Dogecoin’s unwavering resilience in the middle of volatile market shifts, the actions of these (can we say “hoarders?”) come to represent not only the power to shape trends but also the mystery that surrounds their intentions.

Whale Alert says that a big holder who hasn’t been named withdrew a large amount of DOGE, which at the time of the transaction was worth an impressive $16 million.

Dogecoin Whale In Action

This large transfer of money came from Robinhood and went to an unknown wallet. Its location was kept secret to protect the privacy of the people involved, unsurprisingly.

In a different transaction, 84.8 million DOGE, worth about $5.3 million, moved into the Robinhood platform at the same time.

This two-way transfer of DOGE coins shows how volatile cryptocurrency trading is and how investor choices are always changing.

Also, on August 19, a large amount of nearly half a billion DOGE was pulled out of the Robinhood platform, adding to the growing sense of mystery. This was part of a trend of big DOGE moves.

Even though DOGE’s path has been marked by its natural volatility, the meme-inspired cryptocurrency is showing that it can go against market sentiment and start price movements in the right direction again.

This shows that Dogecoin is still popular and has the ability to get people’s attention, solidifying it as a major player in the cryptocurrency market.

At the time of writing, DOGE was selling at $0.064, which is down nearly 16% in the last week. The cryptocurrency market as a whole lost a lot of money over the weekend, which hurt the joke coin by only 1.3% in the last 24 hours.

Robinhood’s Massive DOGE Stash

Robinhood owns a lot of DOGE and keeps it safe for its customers. Newly available information shows that the site has more than 38 billion DOGE, which is about $2.5 billion worth of money.

Clearly, this amount is a big part (27%) of the total DOGE in circulation. It is spread out over 10 different wallet addresses inside Robinhood.

Not to be outdone, the company also has a huge stash of 20 trillion Shiba Inu units, which is the second most valuable meme-based cryptocurrency.

Notable corporate giants like BlackRock, Ark Investment, and Fidelity, among others, are among Robinhood’s top shareholders.

What the next DOGE whales are going to be up to is anyone’s guess.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Shiba Inu Whale Transfers 4.6 Trillion Tokens After A 24-Hour Safekeeping

Shiba Inu (SHIB), a meme-inspired cryptocurrency, has seen a notable increase in high-value transactions, with each one costing $1 million or more. Following a strong price increase in the first half of August, this spike in transactions clearly gathered traction.

Following the coin’s price explosion, a notable pattern started to emerge: whales made significant volumes of crypto movement even as the meme coin’s prices saw a correction.

A huge shift was recently revealed by data provided by Whale Alert, a website that tracks significant cryptocurrency transactions, and it was masterminded by a single entity that had a sizeable amount of Shiba Inu tokens.

Shiba Inu Whale Moves $40 Million In Meme Coins

This crypto whale carried out an unprecedented transfer of 4.65 trillion SHIB tokens, or about the equivalent of $40 million. This huge transfer occurred on August 17, precisely, during a single day.

The mystery surrounding the source and recipient of these enormous sums of SHIB tokens only heightens the interest in this circumstance. This implies that the crypto whale’s goals went beyond merely selling the tokens on an exchange.

The Shiba Inu community’s joyous celebration of the Shibarium Mainnet launch, a milestone for the cryptocurrency’s ecosystem, coincides with these substantial transfers.

However, there were some worries that accompanied the announcement of the Shibarium Mainnet, and these had an impact on the pricing of Shiba Inu. The day before the launch-related festivities, the price of SHIB dropped by 11%.

The cryptocurrency eventually recovered some of its losses, and as of the time of this publication, its price had stabilized at roughly $0.0000086.

It’s interesting to note how different “whales” and significant holders, or those with large holdings of Shiba Inu tokens, appeared to react despite the uncertainty caused by the Shibarium launch-related worries.

This shows that the various strategies and viewpoints held by these important stakeholders about the current Shiba Inu ecosystem developments.

Euphoria And Setback: Shibarium Mainnet Launch

Meanwhile, the euphoria around the Shibarium Mainnet launch was short-lived due to an unforeseen glitch in the Bridge, which temporarily halted block production.

This incident caused over $1.7 million worth of ETH to be stuck in the Shibarium cross-chain bridge, resulting in a decline in the prices of tokens within the Shiba Inu ecosystem, including SHIB, BONE, and LEASH.

However, the developers of Shibarium swiftly addressed the issue. The community-appointed SHIB lead, Shytoshi Kusama, reassured the community through an official blog post that Shibarium is running smoothly.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Shiba Inu Steals The Spotlight, Leaving Bitcoin Behind In A Week Of Price Surges

The Shiba Inu (SHIB) coin has exceeded even the top 10 established cryptocurrencies this week, posting a solid 15% increase that has captivated the attention of the cryptocurrency community.

The notable ascent in SHIB’s price is closely associated with its current rate of burning, which has witnessed a significant upturn in the last 24 hours.

Based on the Shibburn data, a total of 111,799,146 SHIB tokens have undergone incineration, leading to a substantial 57% surge as per the most recent update.

Shiba Inu Gets Price Boost From Burn Rate

Throughout the course of the week, the burn rate of SHIB has exhibited a constant upward trend, closely aligning with its favorable price trajectory.

The consistent pattern observed indicates the possibility of a steady and continuous increase in the price of the asset over a prolonged duration. This can be attributed to the natural expansion of trading volume inside the Shiba Inu ecosystem.

In the midst of current market trends, SHIB is demonstrating its ability to transcend its origins as a meme coin by exhibiting resilience, as evidenced by a significant 9.2% spike in price in the last 24 hours that resulted in its value reaching $0.00000940.

Bitcoin, in comparison, was trading at $29,383, down a meager 0.1% in the last 24 hours, while managing to gain 1.3% in the last seven days, data from crypto market tracking site Coingecko shows, Sunday.

The current increase in value represents a noteworthy achievement for SHIB, as it has exhibited sustained development throughout the preceding week.

Shibarium Launch Also Provides Big Price Lift 

Furthermore, the imminent introduction of Shibarium, a Layer-2 protocol with advanced functionality, constructed on the Ethereum network, contributes to the heightened anticipation and price lift for SHIB.

Meanwhile, data obtained from Coinglass provides a compelling depiction of a notable increase in open interest observed in Binance’s SHIB futures market.

The current surge has exhibited a tremendous growth rate, increasing by almost 100% in just one month.

The substantial rise in open interest and market capitalization of SHIB indicates a considerable influx of capital. The historical context is interesting since it often aligns with instances of Bitcoin price swings.

SHIB And Its Correlation To Bitcoin

Over the course of SHIB’s existence, there have been around seven occurrences in which its open interest surpassed the significant milestone of $100 million. Significantly, each of these instances coincided with fluctuations in the valuation of the alpha crypto, Bitcoin.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Bitcoin Bull Run Beckons: Unleashing The Potential Of 2024 Halving On Prices

In the context of the constantly changing and complex cryptocurrency industry, Bitcoin is currently facing a critical point in its trajectory, as it confronts a range of heightened price pressures that pose significant challenges.

The upcoming halving event in 2024 has generated significant anticipation, drawing attention to the complex interaction of various elements that contribute to the value and destiny of the subject in question.

Bitcoin’s value has increased by 75% so far this year despite having to deal with regulatory scrutiny and fraud. The leading crypto in terms of market cap and widespread adoption has shown surprising resilience in the face of US Securities and Exchange Commission enforcement actions against key exchanges like Binance.US and Coinbase.

Bitcoin’s Price Performance

Currently, Bitcoin is trading around $29,411, up a meager 0.2% in the last day, but managed to gain a decent 1.4% in the last week, data from crypto market tracker Coingecko shows. Bitcoin is currently showing a neutral stance in the market and facing resistance as it tries to surpass the key $29,600 mark.

If there’s a bullish breakout above $29,600, it could potentially open up the path for Bitcoin to reach the $30,200 level. The top coin has already reached the 61.8% Fibonacci retracement level, which is at $29,200.

On the other hand, Bitcoin’s price could change in a big way if it can break through the support level at $30,200. This accomplishment could act as a catalyst and push the value of the coin into a new range, which is thought to be between $30,600 and $31,000.

Such a breakthrough could make the market more hopeful and boost investor trust, which could set the stage for more growth.

The critical zones to watch are at $29,800 and $30,200. If Bitcoin’s price moves below these levels, it could indicate a bearish trend for the cryptocurrency.

Bitcoin Price Prediction

Meanwhile, Cypherpunk figure Adam Back has bet on Bitcoin hitting six figures by March 2024. He made the wager on Twitter, predicting that Bitcoin will surpass $100,000 before the March 31, 2024 halving. The bet is with the Twitter user “Vikingo,” with the winner receiving 1 million satoshis (0.01 Bitcoin).

For Bitcoin to meet this target, it needs a 243% increase in the next eight months. Before the previous halving in May 2020, Bitcoin saw a range-bound period without major gains. The most significant price surge occurred about six months post-halving, initiating a bullish market trend in November of that year.

Understanding Bitcoin Halving

Bitcoin halving refers to the occurrence where miners’ rewards for validating blockchain transactions are halved. This event takes place roughly every 210,000 mined blocks, which translates to approximately every four years.

Introduced by Bitcoin’s creator, Satoshi Nakamoto, in 2009, halvings serve the purpose of regulating asset supply. The mining reward reduces by half every 210,000 blocks, aligning with Nakamoto’s original vision as outlined in the white paper. This mechanism ensures controlled creation of Bitcoin and maintains incentives for miners.

The historical trend of halvings driving price escalation underscores the intricate interplay between scarcity, demand, and Bitcoin’s valuation, accentuating the anticipation surrounding the forthcoming halving’s influence on prices.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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