[ad_1] A widely followed crypto analyst is updating his outlook on Ethereum (ETH) competitor Solana (SOL) as the market chops around. In a new video update, crypto strategist Benjamin Cowen tells his 808,000 YouTube subscribers that Solana could plummet in value if a similar 2019 market pattern plays out again. Looking at the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin (BTC), Ethereum and stablecoins, Cowen shows that alts rallied in 2019 but then plummeted that same year when the Federal Reserve enacted a looser monetary policy. The Fed is now expected to cut interest rates…
Author: dfrancis36
[ad_1] Chainlink (LINK) has faced significant volatility this week. Its price dropped over 13% from Monday’s high, bringing LINK to a critical support level of around $11.20. Traders and investors are closely monitoring this crucial area. Related Reading The importance of this level is further emphasized by on-chain data from Santiment, which shows that demand for LINK is cooling off. This adds to the uncertainty surrounding the asset’s near-term price action. The next few days will be pivotal as Chainlink hovers around this crucial support. The outcome here could determine whether LINK stabilizes and regains its footing or faces further…
[ad_1] Shiba Eternity has officially rebranded to Shiba Inu Games, as announced on Thursday. The rebranded entity, now operating under the handle @PlayWithShib on X, announced its commitment to deepening its foray into gaming by developing more games for the SHIB ecosystem. This strategic pivot was broadcast via an X post that encouraged followers to stay tuned for updates and developments in the Shiba Inu gaming sphere. “Hey gamers of Shib, we’re evolving to PlayWithShib! This will be your new go-to place for all things Shib gaming—updates and more. Follow us and be the first to know!” the team expressed…
[ad_1] Ethereum price tested the $2,400 zone and recovered some losses. ETH must clear the $2,550 resistance zone to start a decent increase in the near term. Ethereum started a consolidation phase after a sharp decline to $2,400. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,555 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if it clears the $2,555 and $2,600 resistance levels. Ethereum Price Eyes Recovery Ethereum price extended its decline below the $2,650…
[ad_1] A worrisome trend has involved Australians losing as much as A$180 million ($122 million) to investment scams related to crypto over the last 12 months, says a recent warning from the Australian Federal Police (AFP). The figure represents about half of the A$382 million ($259 million) losses to all investment scams in the 2023-24 financial year, putting into light a growing threat in the digital space of investing. Contrary to general perceptions, the current targets of these scams are really young people. The AFP claims that 60% of scam victims are under 50 years of age. That dispels the…
[ad_1] After touching recent highs of $64,653 for Bitcoin and $2,815 for Ethereum, in a sudden move backward, the cryptocurrency market had sharply backpedaled on Thursday, with Bitcoin shedding more than 6% and Ethereum dropping more than 7%. Related Reading This sudden fall has left many analysts and investors wondering about the future course of some of the top digital assets, hence underlining how volatile the market is wrought by macroeconomic events and changing mood among investors. 📊 Crypto’s latest retrace is coming after longs were pouring in on exchanges like @dYdX at the highest rate since Bitcoin’s All-Time High…
[ad_1] In a thread shared with his 538,000 followers on X, crypto analyst Miles Deutscher highlights the vital importance of retail investors to the sustainability of the crypto bull market. To understand the possible return of the crypto bull run, Deutscher believes it is essential to understand what has happened in recent years. Deutscher recalls the substantial rally from March 2020 through November 2021, highlighting the extreme gains made across various altcoins. Understanding The Crypto Bull Run Dynamics “From March 2020 until November 2021, the crypto market rallied 2,672%, with many alts pulling 50-100x+ multiples,” Deutscher states, pointing to a…
[ad_1] Intersect, a member-based organization within the Cardano ecosystem, has officially announced the scheduled implementation of the Chang Hard Fork on the Cardano mainnet, set to occur on September 1, 2024, at 21:45 UTC. The hard fork marks a major milestone for Cardano’s evolution towards a fully decentralized ecosystem. The decision to implement the Chang Hard Fork was reached during a comprehensive meeting involving key stakeholders from the Cardano ecosystem, Intersect, Emurgo, the Cardano Foundation, and Input|Output. “The group voted unanimously to initiate the hard fork known as Chang #1, which will take effect on the Cardano mainnet on September…
[ad_1] XRP price dropped toward the $0.5550 level before the bulls appeared. The price is now consolidating and might aim for a fresh increase above $0.580. XRP price started a consolidation phase after a drop toward the $0.5550 zone. The price is now trading below $0.580 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could attempt a recovery wave if it clears the $0.580 resistance zone. XRP Price Starts Consolidation XRP price extended losses below the…
[ad_1] OpenSea, one of the largest marketplaces for non-fungible tokens (NFTs), found itself at the center of controversy after the Securities and Exchange Commission (SEC) issued a Wells Notice early Wednesday over the alleged classification of NFTs as “securities.” This prompted reactions from prominent figures in the crypto industry, US senators, and market experts, all of whom expressed deep concern about what they perceive as ongoing “regulation by enforcement.” OpenSea Eyes Court Battle Against SEC Market expert Adam Cochran has floated a bold proposition, suggesting that OpenSea may have a rare opportunity to challenge the SEC’s regulatory stance through legal…