[ad_1] A widely followed cryptocurrency analyst and trader believes that a top-10 altcoin by market cap is destined to rally by double-digit percentage points from the current level. The analyst pseudonymously known as Bluntz tells his 260,900 followers on the social media platform X that BNB, the utility token for the BNB Chain ecosystem, is set to reach a price of at least $1,000. “There’s no way BNB doesn’t get a four-digit handle this cycle.” Based on Bluntz’s chart of BNB on the weekly timeframe, it appears that the pseudonymous analyst who sometimes employs the Elliott Wave theory in his…
Author: dfrancis36
[ad_1] The US spot Bitcoin Exchange-Traded Funds (ETFs) have been witnessing a historic run of inflows, marking 17 consecutive days of net additions. On a particularly notable Tuesday, these ETFs observed inflows totaling a staggering $886.6 million, ranking it as the second-highest single-day influx since their introduction. This was followed by another significant day of inflows yesterday, amounting to $488.1 million, with notable contributions from major financial players like Fidelity ($220.6 million), Blackrock ($155.1 million), and Ark ($71.4 million). Despite these hefty capital injections, the price of Bitcoin has demonstrated a relatively subdued response, inching from $68,000 to $71,000 since…
[ad_1] In a forceful rebuttal to widespread media speculation about the viability of Cardano, founder Charles Hoskinson has provided a detailed rundown of forthcoming developments and initiatives which he believes underscore the cryptocurrency’s robust health and its promising future. Cardano Founder Slams Crypto Media In a statement via X, Hoskinson expressed his frustration with the current narrative surrounding ADA in the crypto media landscape. “Never in my career have I seen such a profound disconnect between reality and opinion with the cryptocurrency influencer and media perception of Cardano versus its actual fundamentals,” he stated. He emphasized that Cardano is on…
[ad_1] Avalanche (AVAX), the token powering the smart contracts platform Avalanche, is stirring excitement in the crypto sphere. Bullish technical indicators and upcoming developments within the Avalanche ecosystem are fueling speculation of a significant price surge, with some analysts eyeing a potential rally above $100. Related Reading Technicals Flash Green: A Bounce In Sight? Technical analysis based on historical data and chart patterns paints a promising picture for AVAX. Analysts point to a recent corrective phase that the token appears to have overcome, potentially setting the stage for a new uptrend. Charts on trading platforms like Binance depict a support…
[ad_1] The saga of Ethereum ETFs in the US continues with a new twist: cautious optimism. After the US Securities and Exchange Commission’s unexpected green light for spot Ethereum ETFs in May, investors have been eagerly awaiting the launch date. But according to SEC Chair Gary Gensler, patience remains key. Gensler Throws Cold Water On Rapid Launch Hopes In a recent interview with CNBC, Gensler tempered expectations, stating that final approvals for individual ETFs “will likely take some time.” This suggests that the review process will likely take a long time, which could postpone the establishment of Ethereum ETFs, according…
[ad_1] Dogecoin is moving higher above the $0.160 resistance zone against the US Dollar. DOGE is holding gains and might aim for a move above $0.1650. DOGE price is moving higher above the $0.160 resistance zone. The price is trading above the $0.160 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support near $0.160 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1650 to gain bullish momentum and continue higher. Dogecoin Price Holds Support In the past few sessions, Dogecoin price started a…
[ad_1] ConsenSys is set to deploy Linea, its ZK-rollup network, to the main Ethereum network. Linea uses zero-knowledge (ZK) cryptography to offer cheaper and faster blockchain transactions; ConsenSys says fee rates, known as gas prices, will be 15 times less on Linea than Ethereum. ConsenSys says it does not currently have plans for a Linea token. ConsenSys, the research and development firm behind the popular Metamask crypto wallet, plans to roll out its layer-2 network, Linea, to the main Ethereum network this week. The so-called rollup network is known as a zkEVM, which means it relies on zero-knowledge (ZK) cryptography…
[ad_1] On-chain data shows the Bitcoin whales now own over 40% of the entire BTC supply, as they have continued to accumulate more recently. Bitcoin Whales Have Been In Buying Mode Since Mid-March According to data from the market intelligence platform IntoTheBlock, the BTC whales have been increasing their supply since the middle of March. The “whales” here refer to the Bitcoin addresses carrying more than 1,000 BTC in their balance. At the current exchange rate of the cryptocurrency, this amount converts to around $71.4 million, which is quite quite massive. Because of these large holdings, the whales are considered…
[ad_1] XRP price is slowly moving higher above the $0.5200 zone. It is now facing hurdles near $0.5320 and might correct lower in the near term. XRP is attempting a fresh increase above the $0.5250 zone. The price is now trading above $0.5220 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $0.5260 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct lower toward the $0.5220 support before the bulls appear again. XRP Price Gains Traction XRP price remained well-supported above the $0.5120…
[ad_1] The trading volume across centralized cryptocurrency exchanges has notably declined, dropping to $5.27 trillion in May 2024. This decrease, roughly 20.1% from the previous month, marks a continued downtrend following the muted price activity of Bitcoin after its April Halving. Crypto Exchange Landscape And Institutional Interest According to CCData reports, this deceleration affects both spot and derivatives markets. Spot trading diminished by 21.6% to reach $1.57 trillion. The decline was slightly less steep at 19.4% on the derivatives front, totaling $3.69 trillion. Centralized crypto exchange metric. | Source: CCData Despite the overall drop, derivatives trading claimed an increased market share,…