Bloomberg Forecasts Impending Crypto Market Crash in June Amidst Debt Ceiling Saga
In a startling revelation, Bloomberg has issued a warning about an impending crash in Bitcoin and other cryptocurrencies set to unfold in June. The alarm bell has been rung as the US Treasury Department prepares to issue over $1 trillion in treasury bills following the recently passed debt ceiling deal.
Concerns Emerge as Positive Sentiments Fade
Initially, the markets rejoiced after the US House and Senate successfully passed the Biden-McCarthy Debt Ceiling Deal. This positive development, combined with the possibility of the US Federal Reserve postponing an interest rate hike in June, led to an upswing in global stock and crypto markets. The Dow Jones skyrocketed by 2.1%, the S&P 500 surged by 1.4%, and the Nasdaq surpassed its April 2022 highs by nearly 1%. However, this newfound optimism might be short-lived, especially for riskier assets like cryptocurrencies.
Bleak future ahead for BTC & ETH?
Challenges lie ahead, with the US Treasury Department’s plan to replenish its depleted cash balance through the issuance of an estimated $1 trillion in Treasury bills post the debt ceiling deal. Experts at Citigroup foresee a bleak outlook for Bitcoin (BTC) and Ethereum (ETH) shortly, as the Treasury General Account’s cash reserves dwindled to a mere $22.89 billion on June 1, plunging from $635.99 billion in March. This move is expected to result in heightened volatility and weaker returns in the crypto market, raising the specter of a potential recession due to the drain of US dollar liquidity.
Bitcoin’s Support Level
Fiona Cincotta, the senior market analyst at City Index, emphasized the criticality of Bitcoin’s support level, indicating that any breach below $25,000 could trigger a crash. Cincotta believes that the uncertain macro backdrop, coupled with recessionary fears, poses a challenge to Bitcoin’s performance. She suggests that a dovish pivot from the Federal Reserve might be the catalyst needed for Bitcoin to make a substantial upward move.
Bitcoin and Ethereum Face Risk and Stagnant Prices
Notably, Bitcoin and Ethereum prices have stagnated due to macroeconomic issues, regulatory barriers, and lackluster technical charts. Bitcoin’s price is close to falling below the 200-weekly moving average (WMA). US treasuries and the dollar have gained momentum, with the DXY index rising above 104. The Senate’s acceptance of the debt ceiling accord paved the path for President Biden’s June 3 signature.
Presently, Bitcoin is trading around $27,150 is on the sideways, while Ethereum briefly exceeded $1,900 but remains under selling pressure.
As the crypto markets prepare for a meltdown, all eyes are on the debt ceiling crisis, cash reserves, and market liquidity.
Crypto Market Analysis: This Scenario is Currently Not in Play for Bitcoin and Ethereum
After a turbulent May for crypto investors, the outlook for June is more positive. Investors are hopeful for a stable market that will provide a clear direction for cryptocurrency prices. Analyst Crypto World recently discussed the important levels of Bitcoin and Ethereum in a new YouTube video.
The analyst has observed a falling wedge pattern forming, indicating a potentially bullish pattern. However, there is still a possibility of a downside breakout, although less likely. Confirmation of a breakout above the resistance level at approximately $28,000 or below the support level at around $26,000 is needed for a clearer direction. If an upside breakout occurs, the price target would be around $30,500, but this is not currently in play.
He then moved to the eight-hour Bitcoin chart and said that the price remains in a sideways range between support (approximately $26,100 to $26,500) and resistance (around $27,200 to $27,600). A breakout above the short-term resistance levels would signal bullish price action. At the time of writing, Bitcoin is trying to hold above the $27k level.
Ethereum
The analyst then shifted focus to Ethereum and highlighted that the daily chart shows the price still trading above the support area between $1,770 to $1,820.He said that Ethereum has rebounded from the support range ($1,830 to $1,860) and is testing the descending resistance line around $1,890. A confirmed breakout above $1,890 could lead to resistance levels at approximately $1,920 to $1,950 and $2,000.
The recent bullish divergence resulted in a short-term reset in both the price and RSI as the RSI entered overbought territories. A similar cool-off period could occur in the coming hours or days, followed by another upward movement after a further RSI reset.
Why Crypto Market is Up Today? Analyst Revelas Top Reasons
The total crypto market cap edged 1.4 percent higher on Friday to stand around $1.19 trillion. Bitcoin and Ethereum lead the rest of the altcoin market in gains, up approximately 2 percent to trade around $27,182, and $1,894 respectively during the early Asian market on Friday. The sudden price reversal in the crypto market coincided with a significant drop in the United States Dollar Index, a measure of the value of the United States dollar relative to a basket of foreign currencies, in the past 24 hours.
The U.S Dollar Index suddenly reversed on Thursday after being on a rising trajectory in the past three weeks. Notably, a weakening United States dollar is an added advantage to Bitcoin and the rest of the digital assets.
Analyst Take on Bitcoin and Crypto Market Outlook
According to Bob Baxley, Chief Technology Officer of DeFi infrastructure platform Maverick Protocol, the crypto markets may have to reckon with the U.S. Treasury’s state of its general account, which shrunk significantly in the past few months. In this regard, Baxley noted that the crypto liquidity could significantly reduce as the U.S. treasury tries to reload its general account.
“The risk here is that the roughly trillion dollars flowing back into the general account could suck a tremendous amount of liquidity out of the market,” Baxley noted. “Something like this happened in 2019, and the strain placed on the market basically compelled the Federal Reserve to step in and add emergency liquidity to prevent a full-blown crisis. So, in short, just because a deal has been reached doesn’t mean we are out of the woods yet.”
Tether Achieves New Milestone with Record-Breaking Market Cap
Tether has been on an upward hill run recently. The team has been releasing major updates and announcing notable developments, showcasing the growth of the stablecoin.
These include the disclosure of allocating 15% of its profits towards the acquisition of Bitcoin, the introduction of a $1.5 billion BTC reserve, and the decision to commence Bitcoin mining operations in Uruguay. Additionally, the stablecoin issuer announced its strategic investment in a payment processing platform called CityPay.io, which will bolster its presence in Georgia.
Now, in one of the most recent updates, Tether USDT has surpassed its all-time high market cap.
Tether gains back whatever it lost in 2022
Tether USDT stablecoin has successfully regained the market value it lost, which amounted to approximately $20 billion, after the collapse of algorithmic competitor TerraUSD over a year ago.
According to a live tracker published by Tether, the circulating supply of the highly traded digital asset has surpassed the previous record of $83.2 billion, established in May 2022.
Paolo Ardoino, CTO of Tether, stated: “Today’s numbers demonstrate that people want access to financial freedom, and when given that access, they will make use of it.” ” Tether tokens offer a safe harbor for the unbanked and allow people in emerging markets to keep their buying power, even when their national currency is being devalued.
During the second quarter of last year, the circulation of the stablecoin experienced a decline of approximately 20% due to the destabilization of crypto markets caused by the collapse of Terra. This event marked the beginning of a period characterized by bankruptcies, high-profile scandals, and a significant decrease in the prices of most cryptocurrencies.
In contrast, in recent months, the circulation of USDT has demonstrated growth, despite the shrinking of its primary competitor, USDC from Circle. According to CoinGecko data, USDT currently stands with a market cap of $83 billion with a 24-hour trading volume of $11 billion.
OKX Conquers HK Market Amid New Regulations. Find out their Gameplan!
OKX has announced its plans to comply with the latest regulations set forth by Hong Kong’s crypto rulebook. The information was shared by Lennix Lai, the company’s Global Chief Commercial Officer, during a candid interview with Bloomberg’s Annabelle Droulers.
After 6-years of continuing hard work, lobbying and communication by the industry, crypto is live in HK today.#OKX is ready#SFC #VASP @bitcoinorghk @finoverse_ #digitalasset pic.twitter.com/Lcl1bLn1up
— Lennix Lai (@LennixOKX) June 1, 2023
Lai revealed that OKX had been preparing for the application process for nearly a year, involving in-depth discussions with external consultants, and is on track to complete the necessary paperwork by the end of the year. The company has also invested in dedicated personnel, with a 60-person team working on the regulatory licence, as well as local technology and compliance staffing.
The Investment and Potential ROI
While Lai refrained from disclosing the exact amount invested in meeting the Hong Kong regulations, he did reveal it involved a substantial allocation of resources and manpower. In terms of ROI, he expressed confidence in the company’s decision to comply with the stringent regulations. He believes this move will attract more traditional investors, thanks to Hong Kong’s sophisticated financial framework.
Navigating the Expensive, Yet Promising Hong Kong Market
Setting up in Hong Kong, while costly, is a calculated risk for OKX. The hope lies in the possibility of China eventually lifting its ban on crypto trading, thereby opening a significantly larger market for the company. In addition, the license extends beyond just crypto, potentially opening up opportunities for other forms of virtual assets and broadening the business spectrum.
Anticipating the Next Phase of Regulations
Lai expressed hope for the next phase of regulations, particularly in terms of education and improved understanding between regulators and the current players in the industry. He suggested the possibility of direct communication with the regulators in the future, aiming to build trust and understanding.
OKX has been in discussions with at least ten local banks in Hong Kong, hoping to facilitate banking access within the regulatory regime. Despite challenges, such as reluctance from banks to open accounts, Lai notes that the tone of the conversations has been quite positive. However, there is still some way to go before a client-access account can be opened.
Lastly, Lai was asked about his outlook on crypto assets for the coming months. He noted that the crypto market continues to be heavily influenced by the macro economy and doesn’t anticipate a significant impact from the Hong Kong move until banking access is granted, possibly a year later.
Could the challenges brought by new Hong Kong regulations ultimately pave the way for expansion and growth opportunities for crypto exchanges like OKX?
As OKX commits to the Hong Kong market, could this signal the beginning of an industry-wide shift in focus towards the region?
Analysts Are Bullish on Dai (DAI) and Space ID (ID), And Uwerx (WERX) As Market Indicators Show The Will Boom in 2023
The cryptocurrency market has experienced a surge in presale activities, with Uwerx (WERX) gathering considerable attention. However, despite the excitement surrounding Uwerx, analysts continue to express unwavering confidence in other cryptocurrencies, such as Dai (DAI) and Space ID (ID).
This article explores the factors contributing to the presale success of Uwerx while shedding light on the sustained belief in Dai (DAI)and Space ID (ID) within the crypto community.
Dai (DAI) Prices Remain The Same
Dai (DAI) is barelyed performing well in the global cryptocurrency market. It increased by 0.02% in the last seven days. The price of Dai (DAI) is $1. Its performance has not been encouraging for its community, as more than 51% have a bearish sentiment.
Unlike traditional stablecoins, Dai (DAI) is not backed by any local currency; instead, it is entirely decentralized and collateralized on the Maker (MKR) platform. On the Maker (MKR) platform, users can take out loans and lock in their collateral in exchange for DAI tokens.
Through a game theory, the Maker (MKR) protocol can maintain the value of DAI at $1. The DAI token is an ERC-20 token that users on the Dai (DAI) network can quickly generate, access, and use.
Leverage the Market with Space ID (ID)
Space ID (ID) is a Decentralized Autonomous Organization (DAO) protocol that aims to create an accessible network for NFT markets and Web3 domain registrations. The Space ID (ID) network features an NFT marketplace where users can buy, sell, trade, and customize their NFTs.
Space ID’s (ID) price declined by 1.65% in the last seven days and shows signs of further downward movement. It has a market price of $0.4. Space ID’s (ID) total market cap is $134,489,943.
Although Space ID (ID) is reducing in value, its sentiment remains bullish as 85% of its community feels good about its performance in the next few months.
Holders of the ID token can participate in voting decisions on the platform. Users can vote on proposals and project decisions. They can also register decentralized domain names on the network. These decentralized domains can host decentralized websites and applications.
Uwerx (WERX) Embraces Innovation
Uwerx changed the presale game thanks to its committed community and dedicated team. In just a few weeks, the project’s presale has created positive sentiments about Uwerx in the crypto market and attracted 5,000 sign-ups.
Uwerx promises innovative features like cheap but efficient transactions, a user-friendly ecosystem encouraging productivity through incentives and reviews, and an escrow payment system.
Following the project’s massive success, we believe a price increase and bonus reduction are imminent. Through the Alpha version, the team will showcase an interactive, transparent, secure, and user-friendly platform, a glimpse of the project.
The platform will also be introducing the Uwerx Vault. With this Vault, users can safely store away their tokens for as long as they like. This feature can be likened to staking.
Thanks to a recently conducted poll, Uwerx will be conducting a test airdrop before the end of the presale. An overwhelming 98.2% of the community expressed their enthusiasm for the airdrop, prompting the team to utilize this opportunity to verify the accuracy of users’ receiving wallet addresses.
The team also got the opinion of its community on the decision to lock the developers’ tokens now or after the presale. 82.8% of the community preferred an earlier lock date instead of after the presale. To ensure airtight security and protect against any potential rug pulls, the team has committed to a 25-year token lock of the 7% allocation, solidifying trust and reinforcing the long-term vision of Uwerx. A date for the lock will be announced soon.
Uwerx is officially listed on CoinSniper and has submitted its audit approvals from SolidProof and InterFi. Uwerx has undergone some major changes and is expected to see more as it progresses. Some of these changes included an increase in total presale token allocation from 300,000,000 to 427,500,000, the rise of stage four presale allocations, and the opening of a new stage five.
While market indicators provide positive signals for Dai (DAI), and Space ID (ID), we strongly advise that you choose Uwerx as your next project. You will get a 20% bonus if you buy now and also enjoy long-term profitability as the project grows.
The promising trajectory of Uwerx offers an unparalleled chance for investors to partake in a potentially exponential growth journey throughout 2023 and beyond. Exciting developments are afoot with parts of the Alpha version already unveiled and the impending Beta release on the horizon.
This Friday, 2nd June at 15:00 UTC, the WERX price is set to surge from $0.0315 to $0.041. Concurrently, the bonus on acquisitions will make a slight downward shift from 20% to 15%. Now is the perfect moment to expand your portfolio with WERX at its current rate of $0.0315, while simultaneously reaping a 20% bonus on your purchase. Allow yourself to take advantage of this unique window of opportunity. Explore more and make your investment in Uwerx via the links below.
Crypto Market Analysis: Expert Raises Bullish Alert For Bitcoin, Litecoin & Polygon
Renowned and acclaimed crypto strategist, Michaël van de Poppe, has shed light on three prominent digital assets: Litecoin (LTC), Polygon (MATIC), and Bitcoin (BTC).
Litecoin’s Halving Rally
Request 01 – $LTC
Many squigglies on this chart, but higher timeframe resistance is at $93.
Currently, support found at $82 and a strong bounce -> weekly candle looks good.
Next week breaking through $93 and the Halving rally might start. pic.twitter.com/k8Xtp70Tai
— Michaël van de Poppe (@CryptoMichNL) May 27, 2023
Van de Poppe underscores the critical juncture for Litecoin on Twitter, explaining that the next few days will be crucial for its price action. He identifies the immediate resistance level at $93, which needs to be surpassed for the halving rally to commence. Currently, Litecoin finds support at $82, and a strong bounce at this level indicates a positive weekly candle.
Related: Litecoin Halving Event Sparks Frenzy: Here’s What Investors Can Expect
Van de Poppe suggests that breaking through $93 next week could trigger the anticipated halving rally. The third halving event for Litecoin is scheduled to take place on August 2nd, 2023. At the time of writing, LTC is trading at $91.32.
Polygon (MATIC) To The Moon!?
The analyst also closely monitors Polygon (MATIC), a layer-2 scaling solution. He believes that if MATIC can surpass a key resistance level, it could experience a significant rally of up to 61%. He highlights the importance of flipping the resistance at $0.95, which would pave the way for accelerated growth toward the $1.30-$1.50 range. However, if MATIC fails to breach this level, a short position may be activated, and long positions can be considered at $0.75. As of the time of writing, MATIC is valued at $0.94.
Bitcoin Market Outlook
For Bitcoin (BTC), Van de Poppe expresses an optimistic viewpoint, claiming that the “sky is the limit” for the leading cryptocurrency now that it is trading above $27,400. He points out a positive retest of Bitcoin at $26,600, suggesting a potential continuation of its upward trend. Bitcoin is currently trading at $28,133.
However, you must take this as a mere perspective. As always, market conditions can change, and investors are advised to conduct their research before making any investment decisions.
Ripple Still Bearish After Bitstamp Stake Acquisition, Sparklo Outshines the Crypto Market
Ripple (XRP), a giant in the crypto space, has continued to expand its reach by acquiring a stake in Bitstamp. However, its price has remained bearish, leading major Ripple (XRP) whales to seek investment in the new revolutionary platform, Sparklo. As a first-of-its-kind in the crypto space, many experts have predicted that Sparklo will outperform the crypto market with gains of up to 50x before the end of 2023.
Sparklo (SPRK) is on track to outperform the crypto market
Innovative blockchain projects have a history of showing the most upside potential. This is why many market analysts have predicted that Sparklo will outperform the crypto market in 2023. Sparklo is the first alternative investment platform built on a blockchain where investors will be able to buy precious metals like gold, silver, and platinum with digital assets.
Sparklo is building a marketplace where people can purchase gold, silver, and platinum with fractional non-fungible tokens (NFTs). Because the platform is based on fractional NFTs, investors can buy fractions of gold, silver, and platinum. Every NFT minted on Sparklo is backed by an equivalent amount of gold, silver, or platinum stored in secure vaults. On request, Sparklo can deliver the physical gold, silver, or platinum to an investor who buys an NFT representing a whole bar.
Sparklo is changing the precious metals landscape with its innovative use of blockchain technology. The project has already received massive support from investors and completed the first presale stage in record time. Now in the second stage, you can buy the native SPRK token for as low as $0.026 and earn up to a 50% bonus.
Ripple (XRP) acquires stake in Bitstamp
In a shareholder conference call, it was revealed that Ripple (XRP) had acquired a minority stake in the crypto exchange, Bitstamp. The Bitstamp stake acquired by Ripple (XRP) previously belonged to Pantera Capital, a venture capitalist firm based in the United States. Although the acquisition was made in the first quarter of 2023, it was only just revealed.
Bitstamp and Ripple (XRP) have a history, with the exchange acting as a gateway for its payment infrastructure. Bitstamp is currently the second largest exchange where Ripple (XRP) is traded. Despite the announcement, the sentiment of Ripple (XRP) has remained bearish. Over the last 24 hours, the price of Ripple (XRP) has dropped by 2.6% to trade at $0.4519. The lack of price activity is fueling the movement of investors from Ripple (XRP) to Sparklo.
Find out about the Sparklo (SPRK) presale using the links below:
Buy Presale | Website | Twitter | Telegram
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Altcoin Market Cap Continues With a Sluggish Trend While XRP Price Clinches $0.5!
As Bitcoin displays some upward price action, the altcoins tend to follow and procure some easy gains. On the flip side, once the star crypto loses its grip over the ascending trend, the altcoins are also badly impacted as they lose the maximum of their gains. However, XRP being slightly away from the crowd is displaying the possibility of a bullish breakout, both in the XRP/USDT and XRP/BTC pairs.
The XRP/USDT pair, after marking consecutive bullish candles, is now closer to breaching the ascending parallel channel. Once the upper resistance of the parallel channel is cleared, the price is believed to trigger yet another bullish wave towards the higher targets. The price is finding support at $0.48 and the 50-day MA levels, which may help the rally remain elevated.
Besides, XRP is also showing immense strength against Bitcoin, as the pair is about to validate a bullish breakout. With the recent upswing, the pair has made a fair move towards the upper resistance, or trend line, of the descending triangle. A break from the bearish pattern may also enable the bulls to take over the rally. And as long as the Bitcoin price remains sluggish, XRP/BTC is believed to maintain an elevated trend.
Presently, XRP/USDT is trading at $0.5003, with a jump of 4.39% since the daily start, while the XRP/BTC pair is trading at 0.00001797. Both pairs are flashing acute bullish signals and have huge possibilities to mark new highs in the coming days.
When Should You Sell Your Bitcoin? Arthur Hayes Reveals Key Market Secrets
Renowned cryptocurrency expert Arthur Hayes, the CEO of BitMEX, recently sat down for an interview that shed light on the future of the Bitcoin price and offered guidance on the optimal time to sell the popular digital currency.
With his predictions and analysis, Hayes provided crucial information on key market dynamics.
Read on to benefit from it!
Risks Faced by Smaller Regional Banks
Hayes initiated the interview by addressing the risks faced by smaller regional US banks, issuing a warning of potential collapse. He emphasized the vulnerability of these institutions compared to larger banks that hold treasuries and mortgage-backed securities.
This observation serves as a reminder of the intricate relationship between the banking sector and the broader financial landscape, urging vigilance and careful monitoring of potential risks.
Also Read: US Banks Collapse: Max Keiser Suggests To Buy More Bitcoin ASAP – Coinpedia Fintech News
Notably, Hayes expressed his optimism regarding the positive impact of cryptocurrency exchanges relocating from one country to another. He argued that this emerging trend will play a pivotal role in advancing the growth and adoption of cryptocurrencies, particularly Bitcoin.
As exchanges expand their reach, more individuals will become acquainted with the crypto ecosystem, fostering a supportive environment for the industry as a whole.
BTC Price Trends & Future Outlook
Hayes provided unique insights into Bitcoin’s price trend, indicating that he does not anticipate the cryptocurrency reaching the $70,000 mark this year. However, he envisions a more promising market environment in 2024, suggesting that patient investors may find better possibilities in the near future.
He also cautioned that market volatility caused by geopolitical tensions could temporarily lower Bitcoin’s price in 2025 or 2026.
During the interview, Hayes surprised listeners by disclosing his personal investment in PEPE Coin, a meme coin that recently garnered significant attention in the crypto market. While meme-coins are known for their speculative nature and volatility, his involvement adds an interesting dimension to his investment strategy.
This Might Interest You: PEPE Price Set To Skyrocket With 50% Surge, Predicts Altcoin Sherpa – Coinpedia Fintech News
InQubeta (QUBE) Presale Gains Traction as Solana (SOL) and Avalanche (AVAX) Struggle in Recent Market Correction
In recent news, Solana (SOL) and Avalanche (AVAX) have both seen somewhat of a market correction in terms of investor interest… so, if you’re looking for an exciting new presale with a bright future, InQubeta is definitely one to consider.
What Makes InQubeta (QUBE) Stand Out?
InQubeta’s $QUBE tokens offer a unique investment opportunity due to their in-house deflationary mechanism. As a deflationary ERC20 token, $QUBE has a 2% tax on buy and sell transactions, contributing to a burn wallet that gradually reduces the token supply. This deflationary model has the potential to drive up the value of $QUBE over time, making it an attractive investment choice for those who believe in the growth and potential of AI start-ups.
This deflationary nature of $QUBE tokens sets them apart from traditional cryptocurrencies. As more tokens are burned, the circulating supply decreases, creating scarcity and potentially driving up the value of each token. This mechanism rewards long-term token holders and creates an environment that encourages investors to hold onto their $QUBE tokens, contributing to the overall stability and value of the ecosystem.
Additionally, $QUBE tokens offer an additional opportunity for investors to earn rewards through staking. By staking their tokens on the InQubeta platform, investors contribute to network security and performance while also earning rewards from the dedicated reward pool. This dual benefit of potential price appreciation and staking rewards makes $QUBE tokens an enticing choice for investors seeking both short-term and long-term gains.
This strong focus on being deflationary ensures that the value of $QUBE tokens aligns with the growth and success of the AI start-ups in its ecosystem. As the demand for AI technology continues to rise and more investors and start-ups participate in the platform, the scarcity and value of $QUBE tokens are expected to increase. Investing in $QUBE tokens allows individuals to become part of a thriving community supporting the future of AI technology.
What’s Wrong With SOL + AVAX?
Solana and Avalanche, two promising blockchain platforms, have faced their fair share of struggles in the market.
One key reason for the struggles of Solana and Avalanche lies in issues with reaching scalability goals. Both platforms aim to provide high transaction throughput and low fees, but they have faced difficulties in handling the growing demand. Solana experienced network outages and congestion during peak periods, leading to a decline in user experience and confidence. Avalanche, on the other hand, faced similar problems when its network became congested during one particular high-demand season, causing delays and increased fees.
Another factor impacting Solana and Avalanche is the lack of widespread adoption and developer support. Although both platforms have attracted attention and partnerships, they are still in the early stages of building their ecosystems. Ethereum, with its extensive developer community and established dApps, remains the preferred choice for many developers and users.
It is important to note that the struggles faced by Solana and Avalanche are not necessarily indicative of their long-term potential. Both platforms continue to make improvements to address scalability issues and attract more users and developers. However, overcoming the challenges posed by competition (like InQubeta) and achieving widespread adoption will be critical for their success in the highly competitive blockchain market.
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Utility Crypto Tokens Like HedgeUp, Uniswap, and Solana Take the Market to New Heights
The loudest of crypto critics often criticize cryptocurrencies for having no intrinsic value. However, that’s not entirely true. Decentralized finance (DeFi) is built on the back of utility tokens like Uniswap (UNI) and Solana (SOL). And now, a new token has entered the conversation. This is the presale token HedgeUp (HDUP).
Uniswap (UNI): supporting decentralized trading
UNI is the utility token of the decentralized exchange (DEX), Uniswap. This is a revolutionary DEX that introduced the idea of Automated Market Makers (AMMs), which now powers most DEXs in the Web3 ecosystem.
UNI plays a crucial role in the protocol’s own ecosystem. For one, Uniswap (UNI) holders participate in the governance of the protocol. They propose upgrades and vote on any changes and improvements before they are made.
The token is also central to all incentives and rewards programs on Uniswap. For example, Uniswap (UNI) holders are encouraged to become liquidity providers and in exchange for this, they receive rewards in UNI.
So, while speculation has played a role in Uniswap’s current value of $4.95, much of it rests in the fact that Uniswap (UNI) has utility as one of the strongest projects in Web3.
Solana (SOL): powering the Solana blockchain
SOL is the utility token of the Solana blockchain. This is a blockchain protocol that was once referred to as “The Ethereum Killer,” due to its architecture. The network is designed to be a fast, scalable, secure, and cheaper platform for building decentralized applications (dApps) and other DeFi solutions.
Today, Solana (SOL) supports a growing ecosystem of projects and solutions. These include GameFi projects, NFTs, and trading and investment platforms. And, central to all these is the SOL token.
SOL is the main currency of Solana. It is used to pay transaction fees and reward validators who play a crucial role in securing the network. It is also used for governance. Solana (SOL) holders can participate in the governance of the protocol through votes and proposals.
Solana (SOL) is currently trading at $19.40 and is the 10th largest cryptocurrency by market cap.
HedgeUp (HDUP): alternative investments
HDUP will be the utility token of the HedgeUp (HDUP) project. The project is building an ecosystem where its community can invest in alternative assets like precious metals, rare artwork, valuable jewellery, rare drinks, and more.
HedgeUp’s (HDUP) first step is a trading platform that lets people make fractional investments in alternative assets by buying and selling asset-backed NFTs. It is designed to let people invest in products like gold and diamonds starting from as low as $1.
The platform’s internal currency is the HDUP token. Traders will use it to make purchases and pay trading fees. Holders of the HedgeUp (HDUP) token, on the other hand, can also use it as a governance token. They’ll get to make and vote on proposals that determine the overall direction of the project.
HedgeUp (HDUP) is in its presale phase. It is being offered to investors at a discounted price of $0.020.
Follow the links below for more information about HedgeUp (HDUP) presale:
Website | Presale | Telegram | Twitter
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Crypto Market Analysis: What Will Happen To Altcoins if Bitcoin Dips Below $25k?
Bitcoin has been going up in price since the start of 2023, but it has started to show signs of a possible reversal. It faced strong resistance at the $30K level and couldn’t break through. Moreover, it hasn’t been able to maintain support above the previous levels of around $26,500, which is not a good sign.
However, according to Altcoin Sherpa, Bitcoin may slip down to the $25k level. He discussed the current market situation and highlighted that Bitcoin and other cryptocurrencies are experiencing a significant decline in value.
He mentioned the importance of the 24K to 25K price range, which has shown significant confluence and resistance in the past. However, the recent price drop has breached this range, and he expects a test of the 25K area due to its confluence with the former swing high from August 2022.
He also noted that the 25K level aligns with the 200-day exponential moving average (EMA), further strengthening its importance. He also revealed a demand area of around 24.3K, which adds to the overall interest in the price range from 25.3K to 23.6K.
However, he also expects price to potentially bounce at these key areas, he emphasizes that a true low has not yet been established. Despite the current market situation, he maintains his belief in a bullish market structure for Bitcoin. He said that higher highs and higher lows are still being formed, indicating an overall upward trend.
He also cautioned that the current market conditions are challenging and recommended being cautious with altcoin bids. He also highlighted the possibility of more liquidity and interest in the price range from 25K to 23K.
Altcoin Sherpa said, “If Bitcoin goes down to 23K, then alts are going to take a bath. I would definitely be cautious with all coin bids. I would just put them lower.”
The Crypto Market Sentiment is Back to Fear-Panic Sellers Dragging the Bitcoin (BTC) Price Lower!
As the global markets continue to consolidate, the crypto space is also suffering a notable pullback. While the long-term holders seem to show confidence, panic sellers are causing more trouble by selling cryptos at a loss. Now that Bitcoin shows indications of plunging to $25,000, traders expect the price to revisit levels below $20,000.
Will the BTC price drop below $20,000?
Ever since the collapse of the Terra ecosystem back in May 2022, market participants have continued to remain in extreme fear as it triggered multiple fallouts later. The tokens witnessed a sigh of relief during the first few weeks of the year as the majority of them rallied significantly. Unfortunately, at the beginning of the second quarter, the volume dried up, slashing the volatility to its lowest levels.
Therefore, the traders who waited for a notable push towards $30,000 until now appear to remain in a state of distrust and have begun to sell cryptos at a loss.
As per the data from Santiment, more cryptos have been bought within the underbought zone, where there is very little possibility of buying. The traders now appear to be dull, as the restless addresses have been constantly dumping on Bitcoin and other assets at a loss. The MVRV model indicates that altcoins are flashing underbought signals across the sector.
Now that the crypto markets have begun a sluggish trade, the market sentiments have shifted back to ‘fear’. The net realized profit/loss (NUPL) underwent a bearish pullback, signalling the sentiments have shifted from ‘Optimism/Anxiety’ to ‘Hope/Fear’.
Collectively, the market participants have again developed fear as the crypto markets consolidate within narrow regions. While the Bitcoin (BTC) price is hovering just above $26,000, the altcoins have been bleeding heavily. Therefore, indicating a more bearish trend may be imminent in the succeeding days.
BTC Price: Data Shows That Bitcoin is Trading Above Realized Price Amidst Market Panic
The cryptocurrency market has been going through a fair share of trauma with the recent decline in the prices of various assets. The fall in price, which can be attributed to various macroeconomic factors, caused the global market cap to drop by 1.63% in the last 24 hours. According to CoinMarketCap data, the global crypto market cap stood at $1.10 trillion at press time.
Amidst the market chaos, the founder of LookintoBitcoin, Philip Swift, shared some interesting data.
https://twitter.com/PositiveCrypto/status/1661644838411051008
Bitcoin is Trading above the Realized Price
According to the data on price action 140 days after the realized price breakout, the price of Bitcoin is trading above the realized price of $20,167. BTC is trading at $26,256 at press time, which, according to Swift, is a clear breakout for BTC above its realized price. A zoomed-out picture of the chart shows that Bitcoin is performing well and as expected for this stage of the cycle.
Bitcoin and Ethereum have shed 1.98% and 1.72%, respectively, amidst the recent market turmoil. BTC has dropped below the $27,000 level, whereas ETH has plummeted below the $1,800 level.
Amidst the ongoing debt ceiling negotiations in Washington and varying perspectives among Fed officials regarding interest rate hikes, bitcoin has exhibited characteristics of a risk asset once again, diverging from its earlier trend of trading more closely with gold earlier this year.
Both bitcoin and ether are currently experiencing their least favorable month in 2023, with bitcoin down by 12% and ether down by nearly 9.7%, respectively, in 2023.
The trending meme coin, PEPE, has also suffered from market chaos, as it is down by 4% in the last 24 hours. PEPE is also down by 10% in the last seven days. The current market turmoil hasn’t spared any altcoins, as most of them have exhibited single-digit losses.
Crypto Market Analysis: Top 4 Metaverse Token With Bullish Outlooks for June and July
Amid the Artificial Intelligence (AI) hype this year, the metaverse projects have recorded slower growth compared to the mania a year and a half ago. As a result, metaverse projects have amassed lesser funding and growth in the past twelve months. Nevertheless, the metaverse industry remains an area with immense potential to grow into a trillion-dollar industry over the coming years.
According to the latest crypto market data provided by Binance-backed Coinmarketcap, the crypto tokens used in the metaverse industry had a total market capitalization of about $13.3 billion on Thursday.
According to a popular crypto analyst with more than 60k Twitter followers, Captain Faibik (@CryptoFaibik) the top Metaverse coins with a bullish flag include The Sandbox (SAND), Axie Infinity (AXS), Enjin Coin (ENJ), and Decentraland (MANA).
#Metaverse Coins Look Promising for June/July 🧐
– $SAND
– $AXS
– $ENJ
– $MANA pic.twitter.com/Y4FdhMOEfr— Captain Faibik (@CryptoFaibik) May 25, 2023
The Sandbox (SAND)
As for The Sandbox (SAND) token, the analyst deduced a falling channel with the price retesting the upper band. A breakout above the upper resistance level could lead to a 385 per cent rally in the next two months.
Axie Infinity (AXS)
Similarly, the analyst plotted a bullish scenario if Axie Infinity (AXS) breaks out of the upper band of a multi-week falling trend.
Enjin Coin (ENJ)
In regards to Enjin Coin (ENJ), an Ethereum-based ERC-20 token used for social gaming, the analyst noted the price is currently retesting the lows of a breakout, thus subjected to a 309 per cent rally in the next two months.
Decentraland (MANA)
As for Decentraland (MANA), Captain Faibik noted that the token could rally 10x in the next two months if a breakout to the upper side materializes.
Crypto Market Analysis: XRP, Litecoin, and One Altcoin Defy Market Turbulence
Despite ongoing institutional crypto outflows, the market showcases a silver lining as certain altcoins exhibit remarkable resilience.
Institutional investors continue to approach the crypto market with caution, resulting in five consecutive weeks of outflows. According to the CoinShares’ Digital Asset Fund Flows Weekly Report, investors sold off $32 million in crypto holdings last week, bringing the total outflows to $232 million over the past five weeks.
Bitcoin On The Decline
Bitcoin (BTC) has borne the brunt of the outflows, with investors parting ways with $33 million worth of BTC. This sustained negative sentiment towards Bitcoin has extended over the past five weeks, reflecting cautious market sentiment surrounding the leading cryptocurrency.
Related: Bitcoin Bulls Exhausted! Peter Brandt Predicts Massive Market Shakeup – Coinpedia Fintech News
Surprisingly, even short-Bitcoin products saw minor outflows of $1.3 million, indicating a coordinated skepticism among investors in both long and short-investment products.
These 4 altcoins have displayed resilience and attracted investor attention:
- Avalanche (AVAX): Avalanche has attracted inflows of $0.7 million. As an innovative platform offering high scalability, fast transactions, and robust security, Avalanche presents itself as an attractive investment option in the ever-evolving crypto landscape. In the past 24 hours, Avalanche has risen 28.06% to $14.81 per AVAX.
- Litecoin (LTC): Litecoin has demonstrated resilience with inflows of $0.3 million. With its faster block generation time and lower transaction fees compared to Bitcoin, Litecoin appeals to investors seeking a practical and efficient cryptocurrency for everyday use. The current price is $ 91.97 per LTC. As of now, Litecoin is 78.01% below the all-time high of $412.96.
- XRP: Despite facing regulatory challenges, XRP has seen inflows of $0.2 million. Its potential for facilitating fast and low-cost cross-border transactions makes it an intriguing investment opportunity for those considering global financial integration. The current price of XRP is $ 0.46, XRP is up 5.75% in the last 24 hours.
- Ethereum (ETH): Notably, Ethereum has also showcased its resilience with $1 million in outflows, faring better than Bitcoin. As a leading smart contract platform, Ethereum’s versatility and potential for decentralized applications continue to attract investor confidence. Currently, ETH is trading at $1,701.59 USD down by 9.14% in the last 24 hours.
Diversification: The Key To SuccessThe crypto market offers multiple chances and opportunities to build a diverse portfolio and explore alternative avenues for potential returns. So, what are your picks for this altseason?
Bitcoin Bulls Exhausted! Peter Brandt Predicts Massive Market Shakeup
After being rejected between $29k and $31k, it is safe to assume Bitcoin bulls are exhausted and the bears are partially in control over short-term prospects. After rallying more than 70 percent this year, Bitcoin sellers could be outweighing buyers despite the rise in global inflation. Technically, the Bitcoin weekly death cross, in regards to the 50 and 200 MAs, could be motivating the short sellers. Moreover, the Bitcoin price seems to have lost the $27k support following the recent dips.
Bitcoin Price Analysis by Peter Brandt
According to veteran trader Peter Brandt, Bitcoin price is on the verge of further capitulation in the coming days. In his latest Bitcoin price update, Brandt noted that the top digital asset is looking at a possible shakeout before a thrust to new highs.
From the chart provided, the analyst issued two support levels that he thinks the Bitcoin price will significantly rely on. In the short term, the analyst noted that Bitcoin price could fall as far as $25k and find some temporary solace.
However, Brandt noted that if the $25k support level does not hold, then the instrument could fall as far as $18k.
In this regard, the analyst had previously warned crypto traders to be wary of a possible head and shoulder chart pattern. Brandt had outlined $27k as the neckline that Bitcoin bulls had to hold in order to ensure a sustained rally.
Bullish Outlook For Bitcoin
Nevertheless, the analyst remains optimistic about Bitcoin’s long-term growth prospects despite the current headwinds. In a recent case study, Brandt highlighted that it is only a matter of time before Bitcoin sets a new ATH.
Binance and Coinbase Fear the New Market Contender
Currently, the most used crypto exchange platforms are Binance and Coinbase, which have many users. However, Tradecurve is a revolutionary project that caused waves in the crypto industry. Due to its unique features and the TCRV token’s growth potential of 50x while in presale, the platform can easily dominate the whole industry. Let’s dive into details and explore its potential.
Does Binance (BNB) Have Anything to Fear?
Binance is the leading crypto exchange platform. Yet, the Binance (BNB) coin was on a bearish run last month. The leading cause of the Binance (BNB) downward trend is that traditional financial regulators increased their will to operate with crypto exchanges. As a result, statistics show the price decline of Binance (BNB) coins by 19% from May 10 to May 19.
On the other hand, the CEO of Binance has undertaken actions to return the Binance (BNB) coin on the bullish run. Binance (BNB) focused on mergers and acquisitions and VC deals. Also, Binance (BNB) announced implementing essential tech updates. Due to this, Binance (BNB) reduced its coin price fluctuations, as in the last 24 hours, these actions increased the Binance (BNB) price by 0.25% and set it at $309.79.
What’s left to see is whether the bears will again take over or the bulls have established strong grounds for progress. Moreover, can Binance match the growth potential of Tradecurve? Probably not!
Can Coinbase (COIN) Get Out of the Bearish Run?
Coinbase is another exchange platform that has negative results due to big pressure from the government that demands cryptocurrency regulations. As this has happened for a long while, Coinbase (COIN) has been on its bearish run for over a month.
In order to improve its current situation, Coinbase (COIN) requested SEC action. In other words, Coinbase (COIN) asked SEC to establish regulatory clarity for the exchange platform, which, unfortunately, was turned down, and the bearish trend went on.
Most recently, Coinbase (COIN) launched a new subscription that should help them make up the decrease of 6.15% over the last month. This Coinbase (COIN) subscription enables some fantastic features, such as no trading fees and boosted staking rewards. But this comes with other challenges, such as increased pressure over the Coinbase platform and Coinbase (COIN) token, which resulted in a drop of 5.77% and positioned the Coinbase (COIN) price at $56.78.
Yet, bullish analysts remain optimistic and believe that once this whole situation calms down, price fluctuations will stabilize, and Coinbase (COIN) will be back on the bullish run. Once the subscription gains investors’ trust, Coinbase (COIN) may reach over $60.
Tradecurve is Here to Save the Day!
Tradecurve is a revolutionary trading platform in the dynamic crypto world, which comes with its unique TCRV tokens. By using Tradecurve as an exchange platform, you can trade anonymously without going through the KYC process. Also, you can put crypto as collateral and enjoy trading EFTs, commodities, bonds, options, and forex.
This fantastic project offers a lot of benefits both for lenders and borrowers. For example, you can trade and access Tradecurve from everywhere as it is decentralized and borderless. Also, it comes with a high leverage of 500:1 and a copy trading feature, which is helpful for following the steps of experienced traders and having a successful journey. More so, you can benefit from its AI algorithms that maintain automatic trading processes.
Regarding its TCRV tokens, they are available for $0.012 while still in presale. The good news is that crypto analysts predict that the tokens will reach a 50x surge in presale and 100x when they get to a reputable exchange or Uniswap. Hurry up and join the platform, as it can be well worth it even before the presale concludes.
For more information about $TCRV presale tokens:
Website: https://tradecurve.io/
Buy presale: https://app.tradecurve.io/sign-up
Twitter: https://twitter.com/Tradecurveapp
Telegram: https://t.me/tradecurve_official
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FOMO Grips the Meme Coin Market Again – Analysts Predict 100x Gain For COPIUM Token
With mega launches in the past few months like PEPE and SPONGE, it might have felt like the majority of the gains have come and gone – leaving most investors on the sidelines holding bags. However, it seems that the FOMO is gripping the memecoin market again after a token launched yesterday and surged by over 400% in the first few minutes.
Copium Club, a community-centered token that takes the tenants of the internet and embodies it into the next memecoin sensation, launched just a few hours ago, and it managed to attract over $15 million volume in its first 15 minutes. The project has cleverly blended memecoin FOMO with Twitter influencers to create a project that has the potential to follow the footsteps of PEPE, with some analysts predicting a 100x gain. To find out more, keep reading.
FOMO Strikes Again – COPIUM Sees 400% Surge on Launch
COPIUM, the native token behind Copium Club, launched directly onto Uniswap at 4 PM UTC on May 18th and instantly surged more than 400% as traders piled into the newly birthed memecoin.
In fact, the token managed to attract over $15 million in trading volume in its first 15 minutes of trading;
The project is designed for those who have suffered through the volatility of the crypto market, providing them access to a self-deprecating community where users can cope with their losses together. The project attempts to blend humor with FOMO and memes to create a thriving crypto memecoin that has the potential to grow into a memecoin powerhouse over the coming weeks.
If you’ve constantly bought the top on popular memecoins like PEPE and TURBO, then COPIUM is something for you. The project provides the perfect community where users can cope with the brutal shared experience of navigating the unforgiving crypto markets.
Backed and Incubated By Heavyweight Twitter Influencers
Copium Club is bringing a new meta for memecoins and presales. The team sold 30% of the total supply, around 300,000 $COPIUM, to two hundred crypto traders, influencers, and insiders. This invite-only presale allowed these influencers to purchase just 1 ETH of $COPIUM per wallet, who incubated the project on launch and sent it to their followers.
Some of the notable influencers that are backing the project include big names, such as Faze Banks (2.8 million followers), DeeZee (250,000 followers), Cozomo de’ Medici (290,000 followers), and foobar (130,000 followers). The list continues with over a hundred more influencers with thousands of followers each.
To ensure the launch was completely fair and influencers couldn’t dump their entire stacks on newcomers in the market, only 10% of the presale holdings were unlocked at launch. The remaining 90% of tokens are to be gradually unlocked linearly over a period of three weeks to help prevent the presale buyers from selling the token and promoting sustainable market dynamics.
Furthermore, a few hours after the launch, the top 200 $COPIUM holders have airdropped an NFT that provides rewards in $COPIUM for holders. The NFT rewards provide a well-designed incentive to keep whales invested in the project as it continues establishing itself as a leading memecoin in the crypto space.
The Copium Tank NFTs fill up with rewards over twenty separate tiers, reflecting the amount of $COPIUM owned. The metadata and visuals of the NFT update every few hours to represent the changing levels in the tank, and holders can collect their airdrop after two weeks.
MEXC Global: Listings Rampage Already Started as Traders Predict 100x Gains
At the time of writing, $COPIUM has managed to attract over $40 million in daily trading volume. As a result, it’s not surprising to learn that exchanges want a piece of this action as the volume directly correlates to their revenues through trading fees.
$COPIUM has already been listed to a major exchange as MEXC Global listed the token just hours after its launch.
With a tier-1 exchange already listing the token, investors suspect more top-10-ranked exchanges will start to join the mix over the coming days.
With the FOMO officially kicking in, it’s not surprising to learn that analysts are expecting 100x returns from this project;
Buy COPIUM During the Dip
The market has somewhat pulled back from its peak, providing those waiting on the sideline with the perfect opportunity to buy the dip and get exposed to $COPIUM at lower prices. The FOMO is definitely hitting investors, as the Twitter account has already accrued an impressive following of over 14,000 users. Furthermore, the Telegram group is also filling up quickly, with almost 2,000 members already joining.
If you missed out on the PEPE and TURBO gains, then $COPIUM needs to be in your portfolio before the market rebounds and starts to surge again. Even if it doesn’t produce 100x returns, a 10x gain is still quite substantial with the current market conditions.
Cardano (ADA) Rockets Towards a New Milestone: $500 Billion Market Cap in Sight, Claims Analyst
In an electrifying turn of events, ADA, the native coin of Cardano, is poised for an astonishing surge toward a monumental $500 billion market capitalization. This bold prediction comes from none other than Dan Gambardello, the visionary Founder and CEO of Crypto Capital Venture, renowned for his insightful YouTube videos on cryptocurrencies, particularly ADA and BTC.
ADA’s Market Cap: From $12.7B to $500B?
A familiar face on YouTube, where he captivates viewers with his crypto-related videos—especially those featuring ADA and Bitcoin (BTC)—Gambardello took to Twitter to unleash a storm of enthusiasm surrounding ADA’s future. In a series of tweets, he proclaimed that ADA could soar to a breathtaking market capitalization of $500 billion, potentially flipping Bitcoin altogether.
On a brighter note, ADA, currently valued at a modest $12,728,380,076 with a trading price of $0.3649, has a colossal market cap that stands at a staggering $520,607,827,839. Gambardello’s audacity and unwavering conviction may raise eyebrows, but he remains calm, more optimistic in his unwavering belief in Cardano’s extraordinary potential.
That’s not all. Gambardello goes even further, predicting that ADA will reach new all-time highs during the forthcoming bull market.
Prepare For The Bitcoin Bull Run
Gambardello’s unwavering enthusiasm doesn’t stop at ADA alone.
Merely days ago, he took to Twitter to proclaim:
“The next Bitcoin bull run is drawing near—prepare yourselves!” His cryptic advice to followers, “Don’t ask. Prepare,” left many wondering about the secrets he holds.
Gambardello reminded the community of Bitcoin’s remarkable ascent, as it soared from $8,000 four years ago to a historic peak of $70,000 in late 2021.
This might sound exciting, however, let’s not be swept away on a tide of boundless enthusiasm just yet.
The journey to a $500 billion market cap for ADA is akin to scaling the highest peak of the digital universe. It’s crucial for investors to exercise caution, conduct thorough research, and consult with seasoned professionals before taking the plunge.
So, what do you make of these predictions? Do you see Gambardello’s predictions coming true?
Crypto Market Analysis: What’s Next For Bitcoin And Ethereum?
Crypto analyst and influential YouTuber Chris, a.k.a Satoshi Stacker, recently delivered his projections for the future movements of Bitcoin and Ethereum.
Keep on reading to benefit from his insights.
Bitcoin’s Range-Bound Movement
After a notable drop followed by a subsequent rise, Bitcoin is currently trading within a range, showcasing its acknowledgment of established support and resistance levels. Chris highlighted that the market is currently in an indecisive phase, leaving market participants uncertain about the next directional move.
Price Volatility Amid Bullish Sentiment
Despite an overall bullish sentiment, ongoing comments from Federal officials and events unfolding in the traditional markets contribute to price volatility. Chris believes that, on balance, Bitcoin may experience some upward pressure. He does, however, acknowledge a recent rejection at a key resistance level of $27,000, which, although not a particularly positive sign, does not deter him due to his robust trading strategies.
Also Read: ‘Rich Dad Poor Dad’ Urges You to Buy Bitcoin, Warns of a Devastating Crash – Coinpedia Fintech News
Ethereum: Levels To Watch
Analyzing Ethereum, Chris emphasized the altcoin’s ability to maintain its position above a crucial support level of $1,805. He suggests that if the Ethereum price continues to trend downward, this level could serve as the next line of defense. Additionally, he emphasized the significance of a key resistance level in the traditional markets, often corresponding to the peak of a bear market rally.
Bot Trading and Adaptive Strategies
Chris incorporates bot trading into his strategy, which has proven profitable thus far. Anticipating a decisive move in the market, he plans to react accordingly, adjusting his bot positions in response to significant upward or downward shifts.
In addition to his direct trading insights, Chris pointed out an interesting trend: Bitcoin prices tend to drop during the Bitcoin Miami conference. He advises traders to keep a vigilant eye on this pattern as the 2023 conference unfolds.
At the time of writing, Bitcoin was trading at $26,905, while Ether was valued at $1,814.
Presale of Yachtify (YCHT) Storms Crypto Market, XRP (XRP) and Dogecoin (DOGE) Struggle to Stabilize
In a continuous turn of events in the crypto market, Yachtify sees a rise of interest in its presale while XRP (XRP) and Dogecoin (DOGE) try to steer the trajectory of the price action in the hope for a rally.
However, XRP (XRP) and Dogecoin (DOGE) are currently being overshadowed by a more robust performance from the Yachtify project after seeing an increased interest in its presale by investors.
Yachtify (YCHT) Sees an Increasing Number of Investors Joining the Project
As Yachtify gears towards launch, investors are clamouring to invest in the project’s growing reputation and potential. This is coming after Yachtify kick-started its presale phase. Presale investors will earn consistent revenue from the platform’s service fees when they hold the YCHT tokens.
After the launch of the Yachtify project, It’ll become the world’s first investment opportunity that opens doors for investors to invest in the yacht industry. Investors can buy, sell or own luxury assets like yachts, jet skis and different models of boats. The Yachtify project is statistically heading to become the next blue-chip crypto investment platform, and the value is set to rise over $100+ billion in the near future.
With just $0.10 per YCHT token, investors can own the token, which is showing potential to grow and surpass 4,000% very soon. As such, it is important to invest in the Yachtify project early as this is where significant profit will be made.
The Yachtify project has been backed by SolidProof Network, which has already passed its audit. Liquidity will be secured to provide extra security to investors’ assets. The Yachtify project is one you cannot afford to miss. As such, we recommend you check the details below:
Join Presale: https://buy.yachtify.market
Website: https://yachtify.market
Telegram: https://t.me/yachtify
Twitter: https://twitter.com/yachtify_market
XRP (XRP) Records Stable Price Action
It is a hopeful day in the crypto market for XRP (XRP) as the token stabilizes in what could be the first sign of a rally. Sitting at a price of $0.42, XRP (XRP) has remained static. However, it looks like XRP (XRP) is gearing towards a positive price action. It should not be forgotten, though, that XRP (XRP) saw a loss of -8.8% in the last 7 days and a -8.0% in the last 14 days. Nonetheless, the price action of the last 24 hours is hope for XRP (XRP) holders.
The market cap of XRP (XRP) is $22.00M while the trading volume of the coin is $1.29B. XRP (XRP) has a circulating supply of 51.83B tokens.
Dogecoin (DOGE) Sees a Positive Price Action
A slight but significant positive price movement of +1.5% in the last 24 hours sees Dogecoin (DOGE) stay on course for a rally. Dogecoin (DOGE) has a current price of $0.07.
Dogecoin (DOGE) hasn’t seen a positive price action in the last 30 days, losing -10.3% in that timeframe.
Dogecoin (DOGE) has also seen a -7.4% and -7.5 loss in the last 14 and 7 days, respectively. Nonetheless, there is hope for Dogecoin (DOGE) based the recent increase in price value, which could be an extended rally.
The market cap of Dogecoin (DOGE) is $10.17B, while the trading volume of the token is $591.45M as per the last 24 hours. Dogecoin (DOGE) has a circulating supply of 139.27B.
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Is Market Shake-up Imminent? DOGE and Shiba Whales Make Waves; Investors on High Alert
A team of experts specializing in tracking the movement of major whales or large holders in the cryptocurrency industry, Whales Finder, has issued a warning to the crypto community. They have observed the possibility of significant movements of Dogecoin and Shiba Inu coins by large holders in the crypto market.
Dogecoin: Price And Market Analysis
According to Whales Finder’s analysis, Dogecoin is currently valued at $0.07383, with a trading volume of $303.63 million over the past 24 hours. In the last 24 hours, the price of Dogecoin has experienced a decrease of 0.58%. Compared to its highest point in the past week, which reached $0.07551, it is now down by 2.22%. Nevertheless, it remains 6.23% higher than its lowest point in the past week, which was $0.0695.
Shiba Inu: Price And Market Analysis
On the other hand, Shiba Inu is currently priced at $0.0000087, with a trading volume of $100.08 million over the past 24 hours. In the last 24 hours, the price of Shiba Inu has declined by 0.92%. Compared to its highest point in the past week, which reached $0.000009071, it is now down by 4.09%. However, it is still 2.34% higher than its lowest point in the past week, which was $0.000008501.
Potential Market Implications
It is widely known that a significant sell-off of a particular coin by large holders or whales often leads to a sharp decline in its price. Such situations can occur due to various factors, including profit-taking, market manipulation, or changes in market sentiment.
Uncertainty Surrounding Whale Movements
The scale of the predicted whale movement remains unclear at this moment. However, some insights supporting the prediction have been identified upon analyzing the historical behavior of several whales active in the Dogecoin and Shiba Inu platforms.
Suspicious Transactions Raise Concerns
Recently, the Dogecoin platform witnessed at least five suspected blue whale transactions. According to a report released by Whale Alert, a cryptocurrency transaction tracking service organization, approximately five significant transactions involving Dogecoin took place. These transactions involved a total of 680 million DOGE tokens, with each transfer having a similar value of just under $49 million.
The similarity in transaction value and the fact that all five transactions occurred within 20 minutes strongly suggests the involvement of a large investor, possibly a whale, behind these transactions.
Why Crypto Market is Down Today?
The cryptocurrency market has been trading in the red over the last 24 hours. The price of major cryptocurrencies, including Bitcoin, has plummeted, with BTC dropping below $27,000.
There has been a notable rise in the value of the U.S. dollar in the current market situation as it approaches the 200 exponential moving average (EMA). Should a breakout happen, the dollar may experience further gains. This increase in the strength of the U.S. dollar could have a negative impact on cryptocurrencies and other financial assets, leading to a decline in their value.
There is a common inverse relationship observed between the strength of the U.S. dollar and the performance of cryptocurrencies. When the U.S. dollar gains strength, it often results in a decline in cryptocurrency prices, and conversely, when the U.S. dollar weakens, cryptocurrency prices tend to rise.
Whole crypto market bleeds in red
On Friday, the cryptocurrency markets experienced significant declines, with most major cryptocurrencies trading in the red. Bitcoin (BTC) saw a decrease of 1.82%, reaching a price of $26,875. Ethereum (ETH), on the other hand, dropped by 1% and was slightly above the $1,800 mark.
The trading volume for BTC amounted to approximately $14.5 billion, showing a 2.8% drop over the last 24 hours. The global crypto market cap also took a toll, with a 1.29% drop over the last day. According to CoinMarketCap data, it stood at $1.12 trillion at press time.
Major altcoins also took a toll on price, with Cardano, Solana, and Polkadot all shedding 1–2% of their value. The only coin that is trading in the green amidst the turmoil is Ripple (XRP). This is due to the positive sentiment rolling around the Ripple vs.SEC case, with the community anticipating the lawsuit to come to an end anytime soon.
Crypto Market Analysis: Analyst Maps Bitcoin & Ethereum Pivot Levels
According to prominent crypto analyst KyleDoops, the cryptocurrency market is experiencing a fascinating mix of trends and behaviors. In his recent video on Crypto Banter, Kyle meticulously dissected various aspects of the market, from Bitcoin dominance to market cap, offering crucial insights and predictions for investors and enthusiasts.
Bitcoin Dominance and Market Liquidity
In the wake of Bitcoin’s dominance slipping below the range highs of 48.44%, Kyle believes it’s premature to predict a major breakdown. The dominance dip signifies a return within a familiar range, sparking a minor rally for altcoins. He considers the pullback minor and anticipatory of a potential consolidated phase.
However, the People’s Bank of China’s liquidity chart, according to Kyle, paints a grim picture. The liquidity drop-off, the expert suggests, could drive the Chinese government to inject stimulus or initiate stock buybacks. If realized, such actions could inadvertently boost the crypto market, with Bitcoin standing as a potential beneficiary.
Total Market Cap: An Indicative View
Total market capitalization, which nearly hit major support levels, could still experience a downward draw. Interestingly, the ‘Total Two’ trend line, a projection of market cap excluding Bitcoin, mirrored market trends accurately. Kyle asserts that a rally could be on the horizon, particularly if the ‘Total Three’ (representing the majority of altcoins) mimics this behavior, bouncing off its mid-range of $347 billion.
Also Read: Bitcoin (BTC) Predicted to Rally as Top Crypto Analysts Set Bullish Targets – Coinpedia Fintech News
Bitcoin and Ethereum
Turning his attention to Bitcoin and Ethereum, Kyle focused on pivot levels, price points that signify a shift in market direction. For Bitcoin, the current pivot level stands at $27,249, a level he insists must be cleared to reverse the bearish RSI trend. However, with Bitcoin and Ethereum both contending with the 9 and 21 EMA, they remain within a choppy trading zone — a ‘no man’s land’ of uncertainty, he called it.
Big Eyes Ready To Launch As Market Closes In On Others
While this year has observed the recovery of the crypto market, some Cryptocurrencies are yet to break free. While Binance has remained in proximity of a strong resistance zone, Monero is caught under the burden of the trading volume. Meanwhile, the brand new Big Eyes Coin is ready to launch, but not before giving users one more chance to make the most of one of their paw-some offers. Read on to know it all!
Will Binance Break Through?
Binance Coin (BNB) has been trying to break away from a resistance zone at the $320 mark this past week. The native token of the world’s largest DEX has seen dips throughout the week, and signs of a bearish trend were evident since the bulls struggled to retain composure. Data from crypto news website newsbtc.com points towards a bearish line forming near the $333 mark.
BNB needs to make it past the $335 resistance zone to trigger bullish moves. If it fails to do so, it will fall to the $320 support level.
Monero Caught Between Trading Volumes
Monero (XMR) is an open-source cryptocurrency that was introduced in 2014. Monero highly values user privacy, hence details like the identity of users and the amount of money involved remain hidden. This is also true with transaction history, a feature that is unavailable even on Bitcoin’s blockchain. This allows users to keep their held units free from being blacklisted or refused.
At the time of writing, XMR is trading at $156.15, which is about 149% more than its lowest price and about 64% lower than its highest price in the past year. Whereas weekly data from Investors Observer shows low trading volume in the past week.
Big Eyes Coin: The Cat Is Out Of The Bag!
After having run a presale that broke Ethereum’s record, DeFi Memecoin Big Eyes (BIG) has recently confirmed their launch date: June 15th! This comes with an update in their roadmap: their very own Casino! But that’s not all.
A presale that not only brought together a passionate and fun-loving community with its attractive features and contests but also raised an impressive $35.55 Million that cannot end without a bang! For a very limited time, users may use the Double Up feature to double their wallet holdings for only 25% of their deposits!
Aside from that, there is also the offer that allows users to use code END 300 to win a bonus of 300% on the purchase of BIG tokens as well as their Lootboxes. If you’re wondering what those are, they’re just packages you can buy to win rewards that are always worth equal to or more than the price you paid. How often do we even get something with no risk and guaranteed returns in crypto? Worth a shot, right?
The Crypto market is not short of breakthroughs, or technically, breakouts, and most AltCoins are required to make it through difficult areas to be able to display a sustained upward trend. Oftentimes such trends are only subject to market volatility and are thus unpredictable. This has been the case with Binance Coin, currently struggling to break free from a crucial resistance zone. The focus on utility is what attracts investors, and with Monero’s focus on safety, it can surely provide some assurance to its users. However, the non-traceability of transactions also means assets can be used for unethical or immoral reasons. On the other hand, Big Eyes Coin focuses on utility, community-building as well as rewards, making it a win-win situation for its users. This makes it a contender in crypto, and a memecoin that is here to stay.
Find out more about Big Eyes Coin (BIG):
Presale: https://buy1.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
OpenSea: https://opensea.io/collection/big-eyes-lootbox-cards
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Crypto Market Today-Bitcoin(BTC) is Plunging, Will the Price Hit the Threshold at $25,300?
The crypto market is falling down-Bitcoin price continues to drop as the selling pressure intensifies. The global market capitalization also was hard hit which has plunged by nearly a percent, marking the levels around $1.12 trillion. While the second largest token, Ethereum also dropped below $1800, indicating a 1.16% plunge in the past 24 hours. Meanwhile, the other altcoins also witnessed a marginal drop, leading the entire crypto space under an acute bearish trend.
Bitcoin May Remain Bearish
The BTC price, after gaining some momentum, has begun to plunge hard and has been losing crucial support levels for the past few days. Hence, the token now appears to have come under acute bearish influence, due to which the price rally may remain restricted to a large extent. Moreover, the price just slipped below the rising trend line, and if a breakdown is confirmed, it may eventually reach the lower support in no time.
Besides, the MACD, which displays the accumulation of buying or selling pressure, continues to flash bullish signals. It is expected to undergo a bullish crossover in the next few hours, and hence a strong rebound is believed to trigger the BTC price very soon. Alongside, the ADX is trying to maintain a healthy upswing, and if validated, the price may receive the required boosts to propel towards the interim resistance.
Some Altcoins Display Some Strength
While the BTC price remains largely stagnant, the price of some of the altcoins has displayed acute bullish momentum. Altcoins like Axie Infinity (AXS) surged by 6.20%, trading at $7.17, while Decentraland’s (MANA) price jumped by 6.36% and is trading at $0.5022 at the moment. Besides, Optimism (OP) soared by 5.53%, with a value of around $1.70 after marking intraday highs of $1.766.
However, the whole attention remained on the top altcoin, XRP, which was followed by the latest update on the Ripple vs. SEC case. The court dismissed the SEC’s plea to seal Hinman’s speech documents that flashed extremely bullish signals. The price marked intraday highs above $0.46 with a jump of more than 6%. However, it is experiencing a slight pullback at the moment that may be reversed any time after the bearish trend fades a little.
Bitcoin Bull Run: James Altucher Decodes Key Indicators And Market Signals
Renowned analyst James Altucher shares his valuable insights on the latest trends and developments in the Bitcoin space. From the behavior of whales to Bitcoin options, Altucher provides a comprehensive analysis of the market’s potential direction.
Examining Bitcoin Holder Distribution
James Altucher draws our attention to the “Cohort Stack” chart, revealing intriguing insights into Bitcoin holder distribution. While whales were dominating the buying scene, recent market uncertainties related to the United States debt ceiling crisis have led to a pause in their activity.
Altucher highlights a positive trend as holders of 100+ Bitcoin reaches a two-year high of approximately 16,250. Historically, this has been a bullish signal and a crucial group to watch for indicators of market direction.
Bitcoin Halving Event
Despite the expected slowdown indicated by the Lindy effect, Altucher notes that the growth in the number of Bitcoin whales has been slightly higher in the current cycle compared to the previous one. Coupled with the upcoming Bitcoin halving event in approximately 340 days, this creates a significant point of interest for market observers.
Bitcoin Exchange Net Flow
Altucher dives into the Bitcoin Exchange Net Flow data, revealing a five-month low and suggesting a bullish sentiment. The outflow of Bitcoin from exchanges indicates that investors are opting to hold onto their assets. However, Altucher advises caution, as this trend could also reflect a growing distrust in exchanges.
The Future Is Bright
Altucher delves into Bitcoin options, specifically focusing on March 2024, close to the next Bitcoin halving event. Traders’ active engagement within the $50,000 to $65,000 price range signifies a strong belief that Bitcoin will reach these levels. With an incredibly low put-call ratio, bearish bets are virtually absent, adding to the bullish sentiment surrounding Bitcoin’s future.
DigiToads Breaks Records. Can it Surpass Pepe’s Market Cap.
The meme coin craze continues to sway the cryptocurrency universe, and the recent wave of innovation has seen the spotlight shift from canine to amphibian-themed contenders. Among these new entrants are DigiToads (TOADS) and Pepe (PEPE), two top crypto coins shaking up the market.
DigiToads, in particular, has seen unprecedented demand, with its presale funds already exceeding the $3 million mark. Even more impressive, the sixth presale stage just started, and over 80% of it is already sold out – a testament to the token’s burgeoning popularity.
On the other side of the pond, we have PEPE, another meme coin that has generated a significant following. So, let’s delve deeper and discuss the remarkable journey of DigiToads and its potential to surpass PEPE and many top altcoins by the end of the year.
DigiToads: A Rising Star with Vast Potential
DigiToads is a revolutionary token that pushes the boundaries of the meme coin market. This new ICO not only offers an opportunity for investors to join in on the fun that meme coins bring, but it also presents significant financial potential. DigiToads is an ERC20 token that meticulously integrates play-to-earn and stake-to-earn attributes, a first in the meme coin domain.
At the core of the DigiToads ecosystem is a captivating Web3 game wherein players can battle with their virtual toad-themed pets. The top 25% of players secure a hefty portion of the prize pool, incentivizing consistent participation.
DigiToads is also stepping into the Non-Fungible Token (NFT) arena with plans to introduce 3500 of some of the coolest NFTs. These NFTs can be staked on their platform, traded, or exchanged, enhancing the overall utility of the token.
The DigiToads team has demonstrated its commitment to fostering an informed and engaged community by planning an exclusive TOADS school for holders of more than three NFTs, where advanced trading lessons will be provided.
DigiToads’ presale has already proven to be a massive success, raising over $3.2 million in funds, and with the ongoing development and introduction of new features and generous giveaway programs, we might witness TOADS among the top crypto coins after it launches.
Pepe: The Unexpected Contender
Launched on April 16, 2023, the PEPE coin made its debut without any presale and in a discreet manner. Interestingly, the project’s website reveals that there is no established team behind the token, and the creators prefer to remain anonymous. Drawing inspiration from the “Pepe the Frog” meme, the token’s design appeals to meme enthusiasts worldwide.
Despite its mysterious origins, the PEPE coin has experienced a remarkable increase in market capitalization since its launch, with the figure currently standing at around $600 million. Over the past few months, the token has witnessed an astounding surge of over 1900%, hitting an impressive high of $0.00000134. This meteoric rise was driven mainly by the announcement of PEPE’s listing on Binance.
The absence of an identifiable team and the massive supply of over 400 trillion tokens have raised eyebrows. However, the project’s current performance and future plans keep the investors and the community intrigued.
The bottom line
As meme coins continue to capture the attention of investors, DigiToads and PEPE are vying for the top spot. While both tokens have demonstrated incredible growth and potential, DigiToads’ focus on utility, education, and real-world applications could give it a competitive edge in the long run.
DigiToads’ successful presale and plans to list on major exchanges indicate a strong foundation for future expansion. If the token continues on its current trajectory, it may very well surpass PEPE’s market cap by the end of the year.
Regardless of the outcome, the rising popularity of these amphibian tokens showcases the evolving landscape of meme coins and their growing influence in the DeFi market.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
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