[ad_1] Dogecoin is currently at a critical price junction that might determine its price trajectory in the short term. Although the meme coin has witnessed a significant price drop in the past seven days, recent whale activity suggests that the tide might change soon. Notably, large holders of DOGE have been taking advantage of the price drop to accumulate millions of DOGE. Per data from Santiment, an on-chain analytics platform, addresses holding between 10 million and 100 million Dogecoins have collectively accumulated more than $129 million worth of DOGE in the past seven days. Dogecoin Whales Accumulate DOGE According to…
Author: dfrancis36
[ad_1] Patrick Hansen, a senior policy executive at Circle, the issuer of USD and Euro stablecoins, is positive that Euro-based stablecoins will continue rising in the coming days. Taking to X, Hansen noted that the number of transactions conducted using Euro stablecoins is 1.1%. Euro versus USD stablecoins | Source: @paddi_hansen via X Will Euro Stablecoin Usage Pick Up Steam From July? This figure, the executive noted, is at an all-time high, rising from near zero a few years ago. Although USD-based stablecoin transactions account for over 90%, this figure will likely shrink as more issuers seek to build out…
[ad_1] Polygon’s native token, MATIC, has experienced a notable disparity compared to the broader cryptocurrency market. Unlike the top cryptocurrencies that have posted double-digit gains year-to-date, MATIC has failed to post positive performance across all time frames since the 2021 bull run. Adding to the concern, MATIC’s price has recorded losses amounting to 16.5% over the past seven days. This downward trend has prompted the token to test a crucial macro support level, raising questions about its future trajectory. Amid these developments, Polygon has announced a strategic partnership with Aragon, a developer of decentralized autonomous organizations, to introduce a “governance…
[ad_1] Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced price declines of over 10% this week. The downtrend experienced by these meme coins is likely due to the macro side, which has cast doubts in the minds of crypto investors. The US Fed’s Hawkish Stance Has Cast A Shadow Of Doubt Dogecoin and Shiba Inu are believed to have declined this week thanks to the US Fed’s stance on interest rate cuts. The Consumer Price Index (CPI) inflation data came in lower than expectations, which provided a boost for the crypto market. However, Federal Reserve Chair Jerome Powell’s speech highlighted…
[ad_1] A closely followed crypto analyst says that altcoins are on the verge of breaking out after falling short of expectations. In a new strategy session, Real Vision chief crypto analyst Jamie Coutts tells his 18,500 followers on the social media platform X that even though Ethereum (ETH) performed well earlier this month, altcoins are still lagging behind Bitcoin (BTC). According to Coutts, altcoins should see a turnaround sometime during the second half of 2024 as liquidity improves. “Most crypto funds are overweight alts and not having as much fun as they would like, despite having a cracking six months…
[ad_1] Ethereum is under pressure at press time, tumbling roughly 15% from March 2024. As sellers press on, reversing all gains posted from May 20, on-chain data points to a bullish picture. Ethereum HODLers Scoop 298,000 ETH In 24 Hours Taking to X, one analyst notes a spike in ETH demand, especially from permanent holders. Most likely, these permanent holders are institutions with deeper pockets and are willing to hang on. Unlike retailers, these entities can often choose to hold for longer and won’t be shaken out by market volatility. Ethereum permanent holders inflow | Source: @@jjcmoreno via X Citing…
[ad_1] In a significant turn of events, Nigeria has withdrawn tax evasion charges against two executives from Binance, the world’s largest cryptocurrency exchange. According to Reuters, the decision came after Binance appointed a local representative to handle all legal proceedings related to the allegations. However, the exchange and the two executives still face separate charges of money laundering. Money Laundering Allegations Persist Tigran Gambaryan, a US citizen and head of financial crimes compliance at Binance, and Nadeem Anjarwalla, a British-Kenyan national serving as a regional manager for Africa, had vehemently denied the tax evasion accusations. Nigerian authorities detained Gambaryan on…
[ad_1] A proof-of-stake blockchain leapfrogged the Ethereum (ETH)-based virtual reality platform Decentraland (MANA) to become the top non-fungible token (NFT)-related crypto project in terms of development activity, according to the analytics platform Santiment. Santiment notes that Flow (FLOW), a layer-1 permissionless blockchain, registered 190.77 notable GitHub events in the past 30 days, compared to 144.9 for Decentraland. Metaplex (MPLX), a decentralized NFT platform built on Solana (SOL), ranked third with 23.07 GitHub events, and the blockchain gaming project Axie Infinity (AXS) ranked fourth with 17.97. Source: Santiment/X Santiment notes that it doesn’t count routine updates and utilizes a “better methodology”…
[ad_1] Ethereum has seen a number of notable withdrawals that suggests that crypto whales are expecting a recovery in price. These large withdrawals has caused the ETH balances on centralized exchanges to fall to their lowest level since 2016. 336,000 ETH Withdrawn From Exchanges Crypto analyst Ash Crypto took to X (formerly Twitter) to reveal a notable change in the amount of ETH that is being held on centralized exchanges currently. Notably, there has been a marked increase in the withdrawals of small and large investors alike, leading to the highest withdrawal trend of 2024 so far. Related Reading The…
[ad_1] As the cryptocurrency community braces for the much-anticipated Bitcoin explosive rally following the Halving event, popular market analyst and trader Rekt Capital, with an insightful prognosis has suggested that this current BTC’s bull cycle could be shorter than past scenarios. His observations are made against a backdrop of changing market dynamics and heightened institutional investor involvement, which could be affecting the cycle’s speed and behavior. Rekt Capital’s analysis delves into Bitcoin‘s recent price action and market patterns, which hinges on the digital asset’s entry into what he labeled the Pre-Halving rally phase. Bitcoin Bull Cycle Peak Sooner Than Expected…