[ad_1] Bitcoin is under immense selling pressure at spot rates, crashing below critical multi-month support at around the $53,500 to $56,000 zone. As bears take over, there are concerns that the coin could, after all, slip even lower, plunging towards the $50,000 and even $40,000 level in a bear trend continuation formation. Bitcoin Sellers Testing Resolve Of Determined Active Investors Despite the prevailing doubts, several on-chain indicators point to strength. Notably, one analyst observed that Bitcoin prices have dipped below the “moderate risk lower boundary of 9% from the average purchase price of active investors” for the fifth time in…
Author: dfrancis36
[ad_1] On-chain data reveals what percentage of the entire Bitcoin userbase is still carrying a profit following the latest crash in the asset’s price. Bitcoin Has This Many Addresses Still Holding Net Gains In a new post on X, the market intelligence platform IntoTheBlock has discussed about the profit-loss status of the Bitcoin investors after the crash that the cryptocurrency has seen. The indicator of interest here is the “Historical In/Out of the Money,” which uses on-chain data to determine the percentage breakdown of addresses on the network that are carrying profits and losses. This metric works by going through…
[ad_1] Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000. Bitcoin Has Plunged By More Than 15% During The Last 24 Hours Bitcoin investors have been dealt a shock to open Monday, with the cryptocurrency having crashed by more than 15%, which has taken its price to the $51,500 mark. Related Reading The below chart shows how the recent trajectory has looked like for the asset: Looks like the price of the coin has been sharply going down in recent days | Source: BTCUSD on…
[ad_1] Amid the crypto market slump, rumors emerged that Tron founder Justin Sun’s positions had been liquidated. Sun denied the rumors and criticized the community’s FUD (fear, uncertainty, and doubt), pledging to create a fund to help the industry. Justin Sun Denies Liquidation Rumors Over the weekend, the crypto market saw a significant retrace that dragged its market capitalization below the $2 trillion mark. As a result, hundreds of thousands of positions have been liquidated, with the amount skyrocketing to over $1 billion. Related Reading: Here’s Why Bitcoin And Ethereum Price Crashed As reports of the massive liquidations surged, the…
[ad_1] In a striking shift in the cryptocurrency landscape, traditional investors in Bitcoin (BTC) and Ethereum (ETH) are increasingly reallocating their assets into newer, high-potential tokens. This article explores why investors are pivoting away from established giants like BTC and ETH and why Mpeppe (MPEPE) has emerged as a compelling alternative. The Shift from Bitcoin (BTC) and Ethereum (ETH) Traditional Titans Under Pressure Bitcoin (BTC) and Ethereum (ETH) have long been the cornerstones of the cryptocurrency world. Bitcoin (BTC), often referred to as “digital gold,” has established itself as a foundational asset, while Ethereum (ETH)’s smart contract capabilities have revolutionized…
[ad_1] Ethereum co-founder Vitalik Buterin offloaded his entire holdings of Neiro tokens, a Shiba Inu themed memecoin. The move came shortly after the Neiro project team airdropped 17.145 billion tokens to his Ethereum address, making him the temporary largest holder of the coin. This amount represented about 4% of the total supply of Neiro, valued at approximately $130,000 at the time of the transfer. Buterin Dumps Shiba Inu Themed Memecoin According to real-time transaction data from Lookonchain, Buterin converted his holdings into Ethereum, netting 44.53 ETH, equivalent to roughly $112,500. The analytics provider detailed the transaction on X, stating, “Vitalik…
[ad_1] A closely followed crypto strategist thinks three altcoins including the layer-1 project Sui (SUI) are in the midst of a clear downtrend. Pseudonymous analyst Altcoin Sherpa warns his 218,900 followers on the social media platform X that SUI, along with fellow smart contract platform Near (NEAR) and the AI-focused Artificial Superintelligence Alliance (FET) are trading in bear territory. “The really scary thing is that we still have a long way to go for some of these coins. An unstable BTC environment coupled with supply unlocking (peep SUI) means a recipe for disaster for many of these coins. Clear bearish…
[ad_1] Ripple’s Q2 2024 market report recently highlighted a decline in a crucial on-chain metric that could significantly impact the the XRP price. This decline in network activity and several other factors threaten to send the crypto token to new lows soon enough. XRP Records Decline In On-chain Transactions According to the report, on-chain transactions on the XRP Ledger (XRPL) declined by 65.6% in the second quarter of 2024. 86.38 million transactions were recorded during this period, compared to 251.39 million in the first quarter of this year. A drop in the network activity is significant as it highlights investors’…
[ad_1] In a recent development, the Dogecoin Core is expected to undergo another major upgrade that is important to the wellbeing of the network. The upgrade will introduce some major fixes, with the main one being to increase trust in the system, by not allowing the addition of malicious code or for an entity to take over the network. Protecting The Dogecoin Core In a recent development, develop @chromatic_x on X (formerly Twitter) took to the social media platform to announce an upcoming upgrade for the Dogecoin Core. This upgrade, known as the Dogecoin Core 1.14.8, will allow for better…
[ad_1] The cryptocurrency market has been rocked by a massive sell-off, with the Bitcoin price plunging 26% from its July highs above $70,000. This dramatic decline comes amid a broader crash in global financial markets, reflecting growing economic uncertainty and investor risk aversion. Crypto Winter Returns? The crypto sphere was not spared from this turbulence, as risk aversion sentiments reverberated across the industry on Monday. Bitcoin witnessed a staggering 16% decline, reaching as low as $48,860 on Binance, while Ethereum, the second-largest cryptocurrency, experienced its most substantial fall since 2021, reaching $2,116. Related Reading Notably, the fallout extended to crypto-related…