Will TRX Reach $0.10 With Sharp Moves?
Sustaining an uptrend in 2023 is not a small feat in the crypto market, as the volatility and the bear market kept bulls under control. Nevertheless, the TRX price sustains a positive move, leading to a 65% YTD growth.
With the recent reversal from the support trendline breaking above the $0.083 mark, the uptrend continues to approach the $0.10 psychological mark. Due to such sharp bullish moves, the bullish anticipation of the TRON price prediction is on the rise.
Taking a closer look, the TRX price action displays a rounding bottom breakout as the Tron price exceeds the $0.083 mark. As per the bullish pattern, the breakout rally can reach the $0.10 mark.
Currently trading at $0.089, the Tron price shows an intraday fall of 1.88% following the sharp jump of 4.10% last night.
Moving on to the weekly chart, the TRX price displays a strong uptrend in motion. Moreover, the uptrend gives a bullish breakout of a descending triangle pattern and ends the lower high formations since 2021.
As Tron shows a potential to reclaim the 2021 price levels, the upside continuation approaches the 38.20% Fibonacci level at $0.097.
Technical Indicators:
DMI Indicator: With the ADX line rising in the weekly and daily TRX price chart, the bullish momentum is rising for the TRX price. Moreover, the DI lines remain positive in both charts.
EMA: Maintaining an uptrend in the daily chart, the 50 and 200-day EMA provide constant support to the high momentum rally. Following the golden crossover, the EMAs certify the uptrend in Tron.
Will TRON (TRX) Price Reach $0.10?
As the buying pressure continues and the overall market recovers, the TRX price might soon surpass the $0.10 mark. This would create a new swing high in 2023.
On the contrary, if bears dominate the 38.20% Fibonacci level at $0.097, a reversal may emerge. This could challenge the bullish dominance at $0.083.
Ethereum Holders Might Soon Exit As Addresses In Profit Reach A Low: Will ETH Price Regain Momentum?
Ethereum’s value has shown strong bearish tendencies recently, dropping past key levels in just a week. As Bitcoin struggles with the $26K mark, ETH is on the brink of breaching a vital support level. Additionally, multiple on-chain metrics are now leaning towards bearish signs, with investors growing restless as the number of profitable addresses hits a several-month low.
These Ethereum Metrics Might Trigger Negative Sentiment
Recent on-chain metrics have raised concerns in the altcoin market, suggesting a potential bearish trend for Ethereum in the coming days. Two metrics, in particular, stand out: the Ethereum Percent Addresses in Profit and the Ethereum Number of Addresses Holding 32+ Coins. Both the metrics have witnessed a steady decline recently, suggesting rising negative momentum on the price chart.
According to Glassnode, the Ethereum percent addresses in profit has plummeted to an 8-month low, standing at just 52.302%. This means that 48% of Ethereum holders are currently in loss, a concerning figure given Ethereum’s historical performance. A decline in this percentage can indicate a growing number of investors who bought at higher prices are now facing potential losses. This could lead to reduced confidence among investors, potentially triggering sell-offs and further driving down the price.
Additionally, the number of Ethereum addresses holding 32 or more coins has reached a 10-month low, with only 126,211 addresses meeting this criterion. The significance of the number 32 is tied to Ethereum 2.0 validator’s limit. A decline in the number of these addresses can suggest reduced interest in ETH’s staking activity which can impact the network.
As bulls are liquidating in recent hours heavily, exceeding $2 million in long liquidation, it contributes to a selling sentiment, making a recovery trend more challenging.
What’s Next For ETH Price?
ETH price recently lost momentum as it failed to meet buying demand near the resistance of $1,600. As a result, sellers intensified pressure and ETH price is now steadily declining towards immediate resistance of $1,565, indicating that the bulls might be hesitant to buy. As of writing, ETH price trades at $1,585, declining over 0.3% from yesterday’s rate.
While the declining moving averages favor the sellers, the RSI hints at a potential bullish divergence. The RSI level is currently making a positive move below the midline, suggesting growing buying pressure as ETH bounced from $1,565. This could mean that the selling momentum is declining, raising the chances of a surge above $1,600.
A push by the bulls past the 100-day EMA trend line would suggest aggressive purchases. This move can bring more buyers and send ETH price toward monthly resistance of $1,674. However, if the bears manage to pull and maintain the ETH price below $1,531, we could see a drop to $1,470.
Celsius and Core Scientific Reach $45 Million Deal to Settle Mining Dispute
Celsius and Core Scientific Cores, two crypto mining companies, have tentatively agreed to settle their long-running legal dispute for $45 million. Celsus will pay $14 million in cash, with the remainder settled through adjusted claims. However, this settlement still needs approval from judges in Texas and New York, where both companies filed for bankruptcy.
The filing read, “After months of negotiations, Celsius and [Core Scientific] have now consensually resolved their long-running disputes and agreed to a global settlement that will fully resolve this litigation. The Settlement also resolves the protracted and expensive litigation with Core and cuts off the significant costs that would have been incurred if the Parties were to fully litigate their claims against each other in two bankruptcy courts.”
The dispute began in October 2022 when Core Scientific claimed Celsus hadn’t paid its bills, while Celsus argued that Core Scientific hadn’t used mining rigs as agreed in their contract. Both firms separately filed for Chapter 11 bankruptcy protection in the US, Core Scientific in Texas in December 2022, and Celsus in New York in July 2022.
Adam Sullivan, CEO of Core Scientific said, “We are pleased to resolve all existing litigation related to Celsius Mining. With unwavering focus, we continue to deliver on our commitment to enhance the operational excellence of the organization and emerge from our restructuring process later this year even stronger. Executing our three-year roadmap to drive growth, we plan to expand our two operational Texas data centers to provide sufficient capacity for us to remain one of the largest and most efficient Bitcoin producers at scale in North America.”
Importantly, this legal dispute is separate from the criminal charges against former Celsius CEO Alex Mashinsky and former Chief Revenue Officer Roni Cohen-Pavon. Mashinsky faces charges related to fraud and market manipulation, while Cohen-Pavon pleaded guilty to four charges in September and awaits sentencing in December.
Celsius and Core Scientific Reach $45 Million Settlement in Mining Dispute!
Crypto mining providers Celsius and Core Scientific have reached a $45 million tentative settlement to resolve a long-standing legal dispute. Celsius will pay $14 million in cash and the rest in adjusted claims. The settlement must be approved by judges in Texas and New York, where Core and Celsius filed for bankruptcy, respectively. The deal also involves Celsius acquiring Cedarvale, an 85-acre Texas mining site. Celsius had filed claims for $312 million after Core powered down its mining rigs in January, citing unpaid dues. The settlement ends expensive litigation between the firms.
Here’s How TRX Price Will Reach $0.10!
TRX price analysis shows an overall bullish trend in 2023. The Tron coin price has a year-to-date growth of 48.45%. This leads to a strong support trendline visible in the daily chart. However, the Tron price met critical resistance at $0.085. This led to a pullback to the 200-day EMA.
A sideways trend formed between $0.075 and $0.077 during this pullback. After a sharp V-shaped reversal from the 200-day EMA, the TRX price entered this consolidation range again. Moreover, the Tron price action mimics a potential inverted head-and-shoulder pattern with the V-shaped reversal.
A recent bullish reversal allowed the TRX price to rise above this pattern. After a post-retest reversal, the altcoin price increased by 4% yesterday. It is now trading at $0.080. There has been an intraday pullback of 0.49%.
The bullish breakout suggests that the Tron price might hit the resistance of $0.085. This could complete a rounding bottom pattern. Completing this pattern might lead the TRX price towards $0.10 before 2023 ends.
Technical Indicators:
RSI Indicator: The RSI trend remains bullish and approaches the overbought region.
MACD Indicator: The MACD indicator also reflects a positive trend.
Will TRX Price Reach $0.10?
If the buying pressure continues, the TRX price might surpass $0.085. This would create a new swing high in 2023. On the contrary, if bears dominate the 50-day EMA, a downtrend may emerge. This could challenge the bullish dominance at $0.071, aligning with the 38.20% Fibonacci level.
Will ETC Price Bounce 20% To Reach $19?
ETC’s price has been on a downward spiral lately, losing about a quarter of its value in the past few months. This is just part of a larger trend, as the daily Ethereum price chart shows a steady decline.
This primary downtrend has given birth to a formidable resistance trend line, which, during the ongoing correction, has further solidified and produced a secondary resistance trendline.
Diving deeper into the bottom supports, Ethereum Classic showcases persistent resilience at the $14.75 level. Notably, this support has proven to be a fortress, aiding Ethereum Classic to rebound almost five times.
The ETC price action here evokes a potential double-bottom reversal, gearing up to challenge the secondary resistance trend line, coincidentally with the 50-day exponential moving average.
At the moment, Ethereum Classic is navigating at $15.53, registering a marginal intraday dip of 0.26%. However, the sudden rise in Bitcoin price last night has increased optimism for altcoins, hinting at a possible reversal.
Supporting this bullish narrative, the RSI indicator unveils a noteworthy bullish divergence accompanying the double-bottom formation. Moreover, the MACD indicator echoes this bullish divergence, cementing a positive relationship between the MACD and its signal line.
If the ETC price breaks past this short-term resistance trend line, a bullish surge is on the cards. It might knock on the doors of the primary resistance trendline near the $19 mark, a rise of 22%.
Conversely, if things go south, the Ethereum Classic may plunge below the $14.75 threshold. In such a case, we might witness a more profound bearish descent, potentially gravitating toward $12.65.
Ripple Shares May Reach $140,000 After IPO, Predicts Wall Street Analyst
Ripple’s recent victory over the SEC is a game-changer, enabling the company to regain its lost stability and embark on new ventures to enhance its hallmark cross-border payment solution. The icing on the cake? The Mastercard partnership. Even amidst a recent crypto market dip, Ripple’s native token, XRP, has garnered positive attention.
XRP, Ripple’s native digital currency, recently experienced a significant boost, with its price climbing to an impressive $0.94, tantalizingly close to the $1 mark. As of today, XRP is trading at $0.51.
Jones’s Bullish XRP Theory
Renowned Wall Street expert, Linda Jones, believes that investing in Ripple shares at their current price, which hovers around $40, ahead of its potential Initial Public Offering (IPO), is a shrewd move. Despite the present share price, Jones encourages investors to look beyond the immediate numbers and consider Ripple’s underlying value, which she estimates at approximately $6.6 billion.
Jones asserts that Ripple holds significant growth potential in the upcoming years, drawing a parallel with Coinbase, a US-based cryptocurrency exchange, which went public with a staggering $86 billion valuation.
Read More: Here’s How XRP Could Boost Ripple’s IPO Valuation!
Buy Now, Reap Later!
Since Ripple’s current valuation stands at least ten times lower than Coinbase’s, Jones suggests that individuals who purchase Ripple shares today could potentially witness a more than 10x increase in their initial investment.
She offers an example to illustrate this point: if an investor allocates $10,000 to Ripple now, this investment could potentially grow to $100,000, even if Ripple doesn’t surpass Coinbase’s performance.
Understanding the Future Impact
What makes it interesting is the distinctive accounting practice. Currently, Ripple assigns zero value to its XRP assets on its balance sheet. On this, Jones argues that if Ripple were to fix a value to its XRP holdings at the current price of $0.5 or based on its previous high of approximately $3.84, the growth potential would be substantial.
Simply, a $10,000 investment in Ripple might earn an impressive return on investment (ROI) of $140,000, assuming Ripple follows a similar trajectory as Coinbase. However, it’s important to remember that investing in stocks always carries a degree of risk, and past performance is not necessarily indicative of future results.
Have your say: Are you riding the Ripple wave?
Polkadot Price Analysis: DOT Price Prepares To Bounce And Break The Triangle, Will It Reach $6.30?
Following the recent correction to $4.29, the DOT coin price finds footing at the base of the descending triangle. Making $4.29 a multi-contact support level, buyers are extremely confident of a bounce back within the triangle.
With a rounding bottom-like reversal, DOT price starts a positive cycle within the triangle pattern and may soon challenge the 50-day EMA.
The altcoins are teasing a bounce back with the recovery last night to give a bullish end to the consolidation phase. DOT price action displays a similar movement with the 2.45% jump overnight.
Currently, the DOT price trades at $4.61 with a Doji formation. However, an increase in buying pressure can draw out a green candle by the end of the day.
In the 1-week chart, Polkadot price prepares a second-morning star pattern at the crucial demand band at $4.29. Marking a third upcycle within the triangle, a bullish breakout is possible.
Supporting the bullish thesis, the weekly RSI line displays a long-coming bullish divergence at the $4.29 base.
Will DOT Price Reach $6.30?
With bullish reversal signals rising in multiple time frames, the DOT price may soon skyrocket to the resistance trendline. However, the Polkadot price must exceed the $5 mark for the trendline challenge.
With a potential breakout, the bullish rally will give Polkadot a chance to moonshot. The unleashed momentum can fuel the breakout rally to reach $6.30.
On the flip side, reversal within the triangle will retest the bullish dominance at the $4.29 support.
Can BTC Reach $50,000 in 2023?
Following a recent surge, Bitcoin bears are resuming their aggressive stance, aiming to confine the price within a tight range. The recent rejection suggests an increased potential for a significant bearish downturn as selling volume gradually mounts, indicating forthcoming negative trends for the crypto. However, the bulls seem to be gathering momentum for a potential strong recovery in the near future.
The current study is based on MACD cross-over in the long term. The cross-over in the monthly chart occurred a couple of months ago, which signalled the token’s potential to trigger a healthy rebound in the coming days. Since 2014, the monthly MACD has formed a bullish cross nearly three times. Interestingly, in all cases, the 0.786 FIB levels were hit either before or after. Therefore, a similar trend is expected to recreate itself at the moment, which may push the prices towards new highs.
The recent decline has brought the price close to testing the symmetrical support that has been held twice earlier, in June and May 2023. The current trade setup appears to be similar to that of the December 2015 bullish cross, which took 6 months until it reached the 0.786 FIB level. This time range could possibly be shortened at the current stage, which may take just 4 months. Hence, before the end of the year, the Bitcoin (BTC) price is speculated to reach $50,000 as per the historical MACD bullish crossovers.
Despite the ongoing bearish trend, the overall long-term outlook for Bitcoin remains optimistic. Thus, closely observing this month’s closing price gains importance, as it could significantly influence the upcoming trajectory of BTC’s price.
DOT Price Analysis: Back At The Base, Will DOT Price Reverse To Reach Breakout Velocity?
With the declining , DOT price falls drastically to form a descending triangle pattern in the 1-day chart. The minimal YTD growth in Polkadot is a result of this triangle pattern.
The solid use case and development activities, with USD Coin from Circle soon to be available on Polkadot project a bullish future.
Following the consolidation between $4.98 and $5.53, the DOT price action gives a bearish breakout to test the $4.29 mark. The plunge completes the negative cycle within the triangle and brings the possibility of a bullish reversal.
Supporting the bullish thesis, the DOT price action forms a double bottom pattern at $4.29 with strong lower price rejections. Moreover, the $4.29 support level has been critical in 2023 to provide crucial bounce backs and absorb the spike in supply inflow.
Sharing a similar picture to the rest of the market, the daily RSI line displays a bullish divergence. However, the declining EMAs will prove to be an obstacle in the recovery rally.
Despite a single-digit YTD growth, Polkadot sets a bullish launch to launch a moonshot. The positive cycle can rechallenge the overhead resistance trendline slightly above $5.
Optimistically, if the reversal rally breaks above the triangle, the DOT price can jump to $6.30.
On the flip side, a bearish breakdown of $4.29 will plunge the DOT price to $2.27.
Shiba Inu Sellers Reach Crucial Support Level – Will This Metric Plunge SHIB Price Further?
The broad market selloff led to the erasure of all gains the memecoin sector had accumulated over the past two months. Shiba Inu, often referred to as the “Doge killer,” experienced a significant drop from its eagerly watched price point of $0.00001, primarily due to the liquidation of long positions. At present, SHIB’s price is approaching a crucial support, causing traders to worry about potential further drops. Additionally, a decrease in whale activity since the price downturn suggests a possible sharp decline in SHIB’s value.
Whale Activity Continues To Decline
According to data revealed by IntoTheBlock, whale activity within the Shiba Inu ecosystem has seen a notable downturn over the last few days. The trend accelerated following the market crash, with high-value transactions dropping over $130 million.
The large transaction volume has dropped from a high of $139 million to just $9 million on 19 August. However, it has recovered slightly since then, currently hovering around $44 million. This is a significant drop in whale dealings. This steep fall triggers concerns of further selloff by whales, which might lead to a significant drop.
Moreover, there’s a steep decline in large transactions (>$100K) as the metric dropped from the high of around 170 to just 21. Such a reduction in activity from the whales, typically viewed as market influencers, might signal impactful shifts for the SHIB token’s market direction and value.
Whales’ recent reduced activity in the SHIB ecosystem could lead to decreased market liquidity and increased volatility. Two primary conclusions emerge from this trend: First, whales might be consolidating their holdings, waiting for a profitable moment.
Second, these influential players might be diversifying, redirecting their investments towards other promising tokens or assets.
What’s Next For SHIB Price?
Bulls attempted to push the SHIB price above $0.0000084 but faced increased bearish activity. As a result, the price dropped to the crucial support line of $0.000008. This likely triggered stop-losses on long trades and prompted bearish selling. As of writing, Shiba Inu’s price trades at $0.00000811, declining over 2% in the last 24 hours.
SHIB’s price is settled near $0.000008, indicating a bearish dominance. The downward trend continues to intensify, with the bears pulling the price under the 23.6% Fib channel. However, minor buying at this lower level provides a slight confidence for the bulls.
If the price successfully rebounds from the support of $0.000008, we might see robust buying activity among bulls, pushing the price to the North. A break above $0.00000883 will send the price to its old momentum near $0.00001043.
On the other hand, a break below $0.000008 will trigger another wave of selling activity, plunging the price to the zone of $0.0000068-$0.000007, where SHIB might consolidate for some time.
Bitcoin’s Price Poised to Reach $500K: Crypto Analyst PlanB’s Bold Prediction
In a recent video, prominent crypto analyst PlanB has ignited excitement among the cryptocurrency community by suggesting that Bitcoin’s price could potentially skyrocket to an astonishing $500,000.
This optimistic outlook is grounded in his meticulous analysis of the Relative Strength Index (RSI), a pivotal technical indicator known for predicting market trends.
PlanB’s buoyant sentiment stems from his observation that the RSI pattern closely mirrors previous occurrences that triggered substantial bull rallies. This historical alignment has led him to believe that Bitcoin’s value might experience a remarkable surge in the foreseeable future.
What further adds weight to PlanB’s prediction is his unwavering faith in the Bitcoin stock-to-flow model (S2F). Renowned for its simplicity and predictive prowess, the S2F model has gained widespread adoption in the cryptocurrency realm.
Drawing insights from this model’s technical parameters, PlanB exudes confidence that the next price surge for Bitcoin will materialize prior to the highly anticipated halving event scheduled for 2024.
Intriguingly, PlanB envisions a robust bullish market phase following the impending pump in Bitcoin’s price. This phase, according to his projections, holds the potential to propel the cryptocurrency’s value into an impressive range of $300,000 to $500,000.
With remarkable optimism, PlanB remarks, “And then the bull market really goes on. So this averages at $300,000, which is still pretty okay, I would guess. It’s 10x from here.”
SHIB Price Analysis: With An Extended Rally, Will Shiba Inu Reach $0.000013?
With a 62.92% gain in the last 60 days, the Shiba Inu coin price remains one of the most successful coins in the crypto industry. Currently, the Shiba Innu coin price trades slightly above the psychological mark of $0.000010 with an intraday gain of 3.52%.
With the recent surge after the Binance Collateral announcement, the Shiba Inu price trend finds fresh momentum. Moreover, with the meme coin rising above the 200-day EMA, the possibility of a golden crossover increases.
The Shiba Inu coin price fell drastically in a day due to the bankrupt crypto lender Voyager Digital moving almost $6 million in ETH and SHIB to Coinbase. Nonetheless, the Shiba Inu coin price regains bullish momentum and resurfaces above $0.000010.
With the Fibonacci retracement starting from the 2023 high, the recovery rally challenges the 50% Fibonacci level. However, the higher price rejection in the 12th August candle, leading to the evening star pattern, highlights extensive selling pressure.
With the increasing trading volume supporting the recovery, SHIB prices can continue the uptrend. Moreover, the Open Interest rising to $87.68M signals a high demand for Shiba Inu.
If the bullish trend manages to sustain about 50%, the breakout release is expected to reach 78.60%. Accounting for a 21% gain in market value, the Shiba Inu coin will present an excellent breakout entry opportunity.
On the flip side of the coin price fails to rise above the 50% Fibonacci level. The reversal release is expected to retest the bullish dominance and 200-day EMA currently at $0.0000093.
Report: Bitcoin’s Year-to-Date Growth – Is a $125,000 BTC Price Target Within Reach?
With Bitcoin ETFs around the corner, Bitcoin has been one of the most talked-about crypto in 2023. With its meteoric recovery in 2023, followed by a fair share of corrections, many people wonder what Bitcoin’s future holds.
This research report will provide an in-depth analysis of Bitcoin, including Bitcoin On Chain analysis, Sentiment analysis, market data, and derivatives analysis. So, what does the future hold for the crypto market? The answer looks bearish, but the bullish beacon of hope can be found with deeper analysis.
This report aims to provide readers with a comprehensive understanding of Bitcoin and its potential future.
So, if you are interested in Bitcoin or simply curious about this fascinating asset, this report is for you. Read on to learn more about Bitcoin and its potential future.
With a third bearish week, Bitcoin prices experience a growth in selling pressure, with a 3.97% drop in market value. The oldest crypto maintains an overall positive trend with a Year-to-Date (YTD) growth of 75.49%. Currently trading at $29,047, Bitcoin prices with a market capitalization of $564.825 Billion are below the 50-day EMA and approach the 200-day EMA.
The Fear & Greed Index, a popular tool to gauge market sentiment, currently stands at 50. This value suggests a balanced market sentiment, with neither excessive fear nor greed dominating the market.
Coming to the Netflow of Bitcoin on all exchanges, the Netflow is continuing to resurface into positive territory. The Netflow indicator, which measures the inflow and outflow of coins from exchanges, shows a negative value of 1.255K. The increasing Netflow projects a potential rise in selling pressure over the spot exchange, with an increase in volatility in the derivates market.
Moreover, the Miners’ Position Index at 0.30 shows the recent spikes in the MPI value, creating lower highs over the week. Despite the recent stand in the positive range, the MPI value is expected to continue the lower highs trend. This projects the growing optimism of Bitcoin Miners as they hold onto their coins, expecting a rise in BTC price.
Bitcoin Mining Stocks Outshine BTC
Bitcoin mining stocks have been the star performers this year. A report by Seeking Alpha highlights Riot Platforms, a leading Bitcoin miner. Riot’s ambitious plans to triple its mining capacity by 2024 could be hampered by the upcoming Bitcoin halving, cutting miners’ rewards by half.
Moreover, miners like Riot often fund their operations by issuing new equity shares, which can dilute the value of existing shares. This could impact the share price, regardless of the company’s solid fundamentals.
Despite the stellar performance of mining stocks in 2023, an uptick in Bitcoin being sent to exchanges could hint at a loss of momentum. As a result, a substantial increase in Bitcoin’s price is necessary for miners to stay profitable at current hash rate levels.
The report suggests that Bitcoin may need to hit nearly $100,000 for miners to maintain their operations. This makes holding Bitcoin mining stocks a risky bet, as current valuations may not fully account for the impact of next year’s Bitcoin halving.
In contrast, a Matrixport report predicts that Bitcoin could reach $45,000 by year-end and $125,000 by the end of 2024.
Bitcoin Market Indications
The Estimated Leverage Ratio (ELR) on all exchanges has increased over the past four months. The ELR has increased from 0.19 in April to 0.26 in August, with a recent spike to 0.27 on June 20. This indicates that traders opt for more leveraged positions, increasing the risk of a long squeeze.
The Adjusted SOPR, a metric that measures the profit ratio of coins moved on-chain, adjusted to ignore all outputs with a lifespan of less than one hour, is finally 1.03. The aSOPR has recovered sharply over the last week to reach 1.03, suggesting that people move coins at a profit on average, indicating bullish sentiment.
The Stablecoin Supply Ratio (SSR) currently stands at a low of 8.35. The SSR is a metric that measures the global stablecoin supply relative to Bitcoin’s market cap. A lower SSR often indicates a bullish market sentiment.
The reason is simple: when the SSR is low, there’s a larger supply of stablecoins than Bitcoin’s market cap. This suggests that more potential buying power is ready to flow into the market, which can push prices up.
In our current scenario, an SSR of 8.35 suggests a significant amount of stablecoin ready to enter the market, potentially leading to a price appreciation in Bitcoin and other cryptocurrencies.
Tether Goes Crazy For Bitcoin
Tether, the company behind the USDT stablecoin, has reported over $1 billion in quarterly profits. Despite its small team of 60 and a history of controversy, these figures are hard to ignore.
Tether’s latest report reveals it holds $55.8 billion in U.S. Treasury bills. Moreover, Tether’s total assets exceed $86 billion, surpassing USDT’s current market cap. This profit is primarily due to the rise in interest rates and Tether’s vast holdings of U.S. Treasuries.
With this newfound profitability, speculation about Tether’s future investment plans is rife. The company already holds $1.7 billion of bitcoin and invests in sustainable bitcoin mining in Uruguay and a Georgia-based payment processor. More Bitcoin purchases or company investments could be on the horizon.
However, Tether’s cash balance has reduced to just $90.8 million from $481 million in March 2023 and $5.3 billion in December 2022. While U.S. Treasuries are similar to cash, a lack of actual cash could be problematic if there’s a rush for USDT redemptions.
Conclusion
Bitcoin’s landscape is full of exciting signals. Despite a recent dip, Bitcoin’s growth this year is positive. The Fear & Greed Index shows a balanced market sentiment.
Bitcoin mining stocks, like Riot Platforms, are on the rise. But, the upcoming Bitcoin halving and potential share dilution could be challenges.
Market indicators like the Estimated Leverage Ratio and the Adjusted SOPR show mixed signals. Traders are taking more risks, but coins are being moved profitably. The low Stablecoin Supply Ratio suggests huge stablecoin supply could enter the market. This could push Bitcoin and other cryptocurrencies’ prices up.
Coming to the exciting part: Bitcoin could hit nearly $100,000 for miners to keep their operations. Some predict Bitcoin could reach $45,000 by year-end and $125,000 by the end of 2024. And the chance to be part of this growth is now.
Tron Price Analysis: Here’s How TRX Price Can Reach $0.11 With A New Breakout Spree
Following the phenomenal price jump of 500% in 2021, the TRX price trend started to decline in a descending triangle pattern. With the bottom support forming at $0.045, the TRX buyers display multiple bullish breakout attempts over the years.
However, the recent recovery rally of 28% starting from the 38.20% Fibonacci level seems to have done the trick. Will this breakout sustain to push the TRX prices to create new swing highs in 2023?
With a morning star pattern at 38.20% Fibonacci level, the TRX coin price restarted a recovery spree. Currently, trading at $0.0833, Tron’s price action manages to give a bullish breakout of the triangle pattern.
Making five consecutive bullish candles in the weekly chart, with the sixth in formation projects strong underlying bullishness. Moreover, the uptrend forms a rising channel pattern in the daily chart, indicating further bullish growth within the channel.
Currently facing opposition from the 50% Fibonacci level at $0.8385, TRX price action shows higher price rejection and bullish exhaustion. This projects the possibility of a retest. However, a weekly candle closing above $0.8385 will launch off a ride to $0.10.
The RSI line approaches the oversold boundary and flats out with a downtick. However, the DMI indicator shows the ADX line surging reflecting a high trend momentum. Plus, the VI lines maintain a positive trend, supporting the further growth theory.
Considering the buyers manage to push the TRX price above $0.8385 by this weekend, the Tron prices will explode in the coming weeks. Potentially crossing the $0.10, the breakout rally can challenge the overhead supply at $0.1178, the 78.60% Fibonacci level.
On the flip side, if the rising channel breaks, it could drop TRX prices for a retest to $0.077.
Aave to Launch GHO Stablecoin, InQubeta Presale To Reach New Historical Milestone Soon
A frontrunner in the AI start-up investment landscape, InQubeta continues to make waves in the crypto space. The platform’s innovative approach, empowered by its native QUBE token, allows investors to participate in AI start-ups through fractional investments. The ongoing presale of QUBE tokens has shown impressive performance, nearing a new historical milestone. Meanwhile, in the DeFi sector, Aave, one of the leading DeFi lending protocols, has introduced its highly-anticipated GHO stablecoin on Ethereum.
The March of InQubeta
InQubeta continues its rise in the crypto sphere. The platform, which aims to democratize investment in AI start-ups, uses QUBE tokens for fractional investments. InQubeta’s model disrupts the traditional investment process, offering accessibility and equal opportunities for all investors. Anyone can own a piece of the action and enjoy the best of both worlds without needing any Silicon Valley connections.
The current presale of QUBE tokens is a testament to the market’s positive reception of InQubeta’s vision. The presale has already crossed the impressive mark of $1.7 million and is approaching the significant $2 million milestone. With an upcoming NFT marketplace, deflationary tokenomics, and community support, the platform is set to broaden its reach in the coming months.
Aave’s GHO Stablecoin
Simultaneously in the DeFi arena, Aave has launched its GHO stablecoin on the Ethereum network. Users of Aave v3 can now mint the stablecoin against assets deposited into the protocol. With a fixed interest rate of 1.5% and a 30% discount for AAVE stakers, GHO offers attractive benefits to its users.
All fees generated from GHO will be channelled to Aave DAO’s treasury, creating additional revenue for the platform. Users can mint GHO against all collateral assets supplied to the protocol, maintaining their asset yield while accessing dollar-pegged liquidity. The initial debt ceiling for the stablecoin is set at $100 million, making GHO a competitive borrowing option in the Aave Protocol.
The Confluence of InQubeta and DeFi
The progress of both InQubeta and Aave reflects the dynamism and potential of the crypto ecosystem. InQubeta’s focus on facilitating fractional investment in AI start-ups and Aave’s strides in the DeFi lending space signal the diverse opportunities that exist within the blockchain and cryptocurrency industry.
As InQubeta marches towards new milestones, its impact on democratizing AI start-up investments becomes increasingly significant. On the other hand, Aave’s GHO stablecoin enhances the lending and borrowing experience for DeFi users. These developments underscore the capacity of cryptocurrencies to reshape traditional financial models and systems.
In Conclusion
The exciting progression of InQubeta and Aave exemplifies the transformative potential of the crypto world. The continual success of InQubeta’s QUBE token presale and the launch of Aave’s GHO stablecoin highlight the crypto industry’s ongoing growth and innovation.
The intersection of DeFi with platforms like InQubeta is creating a more accessible and inclusive financial ecosystem, breaking down barriers and promoting financial inclusion. As the landscape evolves, the focus remains on creating versatile solutions that empower users and provide improved financial alternatives. With these developments, the crypto space continues to forge ahead, reshaping the financial world one project at a time.
Dogecoin Appears to be the Strongest Altcoin; Here’s When the DOGE Price May Reach $0.1
Dogecoin’s price continues to maintain a huge upswing, leading the list of top gainers after Maker (MKR). Ever since Elon Musk rebranded Twitter to X and mentioned X & D in his bio, the DOGE price spiked heavily and has continued to soar high until now. The price is displaying huge potential to maintain a fine upswing as the bullish momentum piles up. ]
Also Read: Memecoin Mania Returns: Along with Dogecoin, These Tokens Are Gaining Momentum
The price was undergoing a parabolic recovery and was expected to trade along the lower support to reach the neckline of the consolidation. However, the fresh bullish push is compelling the price to trigger a massive upswing, which may lift the price beyond the crucial resistance very soon. The buying pressure has significantly piled up, which may further strengthen the base required to trigger a bullish breakout.
The DOGE price rose above the bearish pattern and is currently heading towards its next target above $0.09. Now that the price is ranging high, it may secure the upper targets beyond $0.1 initially and head towards the next targets. Besides, the daily active address count had been soaring for over a month, indicating a new bullish wave could be on the horizon.
However, the rally also carries the possibility of a bearish pullback. The price may be bullish in the short term, but in the long term, it continues to consolidate within a bearish influence. The sideways price action is serving as the bull cycle’s accumulation phase before the final parabolic rally lift that could lead Dogecoin (DOGE) price towards a new ATH.
Top Altcoin Picks For Next Week: Ripple (XRP), Binance Coin (BNB) And Litecoin (LTC) Prices To Reach Breakout Moments
The previous week witnessed a downturn in the altcoin market, with top altcoins experiencing significant declines after failing to sustain higher levels. Despite the initial bullish sentiment and buying opportunities brought by Ripple’s victory, it appears that the majority of traders have now pivoted towards bearish positions. As a result, prominent altcoins, including Ripple’s XRP, Binance Coin (BNB) and Litecoin (LTC), are heading toward a make-or-break moment next week.
Here’s What Altcoin Traders Can Expect Next Week
The past week saw the crypto market experiencing extreme fluctuations, with prices soaring to unexpected highs only to drop to distressing lows within a matter of hours. Furthermore, Bitcoin was unable to sustain the optimism of bullish investors as its price sharply fell below the psychological $30K threshold. However, if Bitcoin continues to hover below the $30.5K mark in the coming week, a significant shift is anticipated. This could prompt investors to redirect their investments towards altcoins, potentially driving up their prices.
Ripple (XRP) Price Analysis
Bullish investors managed to drive XRP beyond the key resistance level of $0.85 but failed to maintain this momentum.
This situation tempted short-term bulls to cash in their profits, while aggressive bears started opening short positions. The bears will aim to drag the price towards the 50-day EMA support level at $0.74.
If the price bounces back from this level, the XRP price could continue to fluctuate within the $0.75 to $0.85 range for a while.
A successful break and closure above $0.85 might pave the way for a potential retest of $0.93. Conversely, a fall below $0.74 could plunge the price to $0.55.
Binance Coin (BNB) Price Analysis
BNB remains within the confines of the symmetrical triangle pattern, indicating a state of uncertainty between bullish and bearish traders.
The symmetrical triangle is generally seen as a continuation pattern, but there are instances where it can act as a breakout pattern. The relatively flat 20-day EMA and the Relative Strength Index (RSI) hovering around the midpoint do not provide an advantage to either the bulls or the bears.
If the buyers manage to push the price above the triangle, the BNB price could ascend to the next resistance at $285. This resistance level is crucial to monitor as surpassing it could pave the way for a potential surge to $300.
For the bears to take control, they would need to pull and maintain the price below the triangle. If the $235 support level collapses, the selling pressure could intensify to $220.
Litecoin (LTC) Price Analysis
Litecoin’s price has been fluctuating within the moving averages, indicating market uncertainty. Despite buyers’ attempts to push the price above the 100-day EMA, sellers have resisted, aiming to establish this as a resistance level.
If the LTC price falls below the crucial support of $89, selling pressure could intensify, potentially driving the LTC price down to $81. However, if the price surpasses $96, a relief rally of up to $106 could occur.
Robert Kiyosaki, Author of ‘Rich Dad Poor Dad,’ Predicts Bitcoin to Reach 6-Figure Price Target
The post Robert Kiyosaki, Author of ‘Rich Dad Poor Dad,’ Predicts Bitcoin to Reach 6-Figure Price Target appeared first on Coinpedia Fintech News
Robert Kiyosaki, author of “Rich Dad Poor Dad,” has made a new prediction regarding the price of Bitcoin. He believes that the BRICS alliance will soon announce a gold-backed cryptocurrency, which could impact the value of the US dollar. To protect against impending inflation, Kiyosaki advises his followers to invest in gold and silver. He also predicts that the price of Bitcoin will reach $120,000 by next year.
Polygon Makes a Bold Move Aiming to Reach $1; What’s the Reason Behind the MATIC Price Rally?
Crypto markets have displayed some strength since the early trading hours as the global crypto market cap surged back above $1.19 trillion. As Bitcoin took a little step higher, some of the altcoins, like Polygon (MATIC), jumped with greater magnitude. The token has registered itself among the top gainers with a jump of nearly 8% after breaking the crucial resistance at $0.717. The price flashes massive bullish signals, but what changed recently? Why is MATIC’s price rising high?
While most of the tokens were stuck up in a range, MATIC’s price accumulated acute strength. Instead of exploding at once, the price maintained a consolidated ascending trend, cleared the major resistance at $0.66 initially, and is now trying to hold strong above $0.72. The price is flashing bullish signals, aiming to reach $1 at the earliest, but at the same time displays the possibility of facing rejection.
Ever since the markets collapsed in May 2022, the MATIC price has displayed extreme strength and maintained an ascending trend. Unfortunately, the bulls lost their plot, which caused the price to witness a steep fall and test the lower support along the trend line. Despite acute bearish pressure prevailing around this zone, the price has managed to hold within bullish regions. Therefore, a significant shift of momentum that began a few hours ago may continue, elevating the price towards higher targets.
Second, the MATIC price has recovered from the lower FIB levels of 0 and is now rising towards the major resistance levels of the 50-day MA and, later, the 100-day EMA. Hence, if these levels are cleared before the day’s close, the possibility of rising above 0.236 FIB levels emerges, paving the way to reach 0.312 FIB levels at $0.9165. This could be when Polygon’s (MATIC) price reaches $1.
Bitcoin (BTC) Price Expected to Reach $50K by Year’s End and $120K by 2025: Standard Chartered
Standard Chartered, a major British multinational bank, has made bold Bitcoin (BTC) predictions. As the news spread, major news outlets such as Reuters and Bloomberg eagerly reported on the bank’s audacious predictions. BTC might reach $50,000 by the end of this year and $120,000 by 2024, so buckle up.
$120,000 by the End of 2024? Hype or Reality?
Standard Chartered’s analysts have built their optimistic outlook on a fascinating premise. They believe that the upward surge in Bitcoin’s price could serve as a catalyst for Bitcoin miners to adopt a strategic approach and accumulate a larger share of the coins they mint. This assertion not only highlights the bank’s confidence in the future of Bitcoin but also suggests a potential shift in the behavior of those driving the cryptocurrency ecosystem.
Drawing on their previous analysis from April this year, Standard Chartered boldly declared the end of the infamous “crypto winter” in their Bitcoin forecast for 2022. This earlier prediction seems to have laid the groundwork for the bank’s current bullish stance, further bolstering the sense of optimism surrounding Bitcoin’s future.
While Bitcoin’s performance throughout the year has been nothing short of exceptional. Surpassing the Nasdaq Composite index, the digital currency has surged by a staggering 83%, leaving traditional markets in its wake. Such phenomenal growth has not gone unnoticed, attracting renewed interest and driving the creation of new Bitcoin wallets.
Navigating the Bumps
Leading crypto analyst Ali Martinez has been keeping a watchful eye on the cryptocurrency landscape, and recent observations have added fuel to the excitement. Martinez notes a significant uptick in the number of newly created Bitcoin wallets, which hints at a potential game-changer. If this trend continues and the growth in wallets remains stable, it could act as a trigger for substantial price spikes, amplifying the allure of Bitcoin’s future trajectory.
However, seasoned analyst Michael van de Poppe provides a balanced perspective by suggesting that Bitcoin might experience a temporary correction before resuming its upward trajectory. Van de Poppe advises caution, noting the possibility of Bitcoin seeking lower price levels to generate liquidity. While this cautionary note may temper some of the excitement, it underscores the well-known volatility inherent in the cryptocurrency market.
At present, Bitcoin is trading at $30,153, experiencing a slight dip from its recent peak above the $31,000 mark. Nevertheless, market participants remain captivated, eagerly monitoring Bitcoin’s performance as the digital currency’s potential ascent unfolds.
XRP Price Prediction: Can XRP Reach Above $1 in 2023?
After maintaining a notable rise in the past couple of days, the XRP price is undergoing a decent correction in the short term. Despite the consolidated trend, the price still looks out for a considerable breakout with the formation of a bullish pattern, eyeing a recovery above $0.55 before the end of the weekly trade.
The XRP price is managing within a bullish range and trading at $0.48 with a slight upswing of 1.28%. The recent recovery initially aimed to reach $0.5 and secure levels above $0.52. But the start of the day’s trade began with a consolidation, which dragged the price slightly lower. The pullback appears to be the beginning of a fresh downward trend, but this is also treated as an opportunity to attract fresh liquidity, as bulls may certainly not lose their grip over the rally.
The XRP price continues its trade within a bullish pattern, in an ascending triangle, and is expected to maintain a healthy upswing to reach the edge of the consolidation. Moreover, in the short term (hourly chart), the price has formed a bull flag pattern. Hence, a bullish breakout appears to be fast approaching in the short term, which may help the price trigger a rebound in the long term.
Besides, the price has risen above the crucial 200-day EMA levels, which may offer a base to trigger a rebound in case of a bearish divergence. Therefore, if the pattern executes well and the market conditions respond in favor of the crypto, the price may initially reach above $0.6. This can be considered a huge buy signal that may further lift the price close to or beyond the yearly milestone of $1.
Ethereum May Not Reach $2000 Anytime Now But Whales Continue to Swap Altcoins for ETH
The bulls appear to have completely exhausted themselves, holding the cryptos above their respective support levels. Hence, a notable pullback is fast approaching, which may drag the Ethereum prices by another 10% to 15% until the weekend. The fractals like derivatives, TVL, and the usage of DApps are not in favor of bulls. The price has faced strong resistance at $1920, recently after undergoing a rally of more than 15%. However, the upswing could not prevail for long, and the price dropped back below the major support.
Also Read: ETH Price: Ethereum’s Golden Cross Signals Potential Rally, But On-chain Metrics Raise Questions
Considering the on-chain readings, the usage of DApps on Ethereum has been depleting as the ETH gas fees dropped by 60%. Besides, the seven-day average transaction cost also dropped close to $3.7 from its high of $9. Moreover, the active DApp address also declined by more than 25%. If we consider the mindset of professional traders, they have been avoiding leveraged longs, or, in simple words, avoiding bullish bets.
These above metrics offer a favourable condition for the bears, and the worsening of macroeconomic conditions and regulatory concerns have also negatively impacted the price.
Whales Bullish on Ethereum!
Whale activity is closely followed within the crypto space as it is considered one of the indicators of the upcoming trend. Currently, the ETH price remains stuck within narrow regions, but the whales continue to be bullish on the Ethereum price as they are making a substantial shift from the other cryptos onto ETH.
A popular on-chain platform, Lookonchain recently revealed that a whale withdrew 1.93 trillion PEPE worth nearly $3.03 million. This is speculated to occur after the whale swapped LINK and BNB at a loss for PEPE and ETH.
The main reason behind the move remains highly speculative. However, the whales usually swap tokens, if they find potential in other tokens, now in PEPE and ETH. Ethereum’s being more stable and having the potential to go long in the long term may be the major reason behind the swap. Hence, a significant move may be expected in the near future, but for now, a consolidated narrow swing could be imminent.
XRP Price Closer to a 20% Upswing; Here’s How the Price May Reach $0.6 in the Next 15 Days!
The crypto markets are consolidating! The Bitcoin price is stuck below $30,500! Is XRP’s price also following a descending trend?
Ever since the price triggered a decent upswing from the lows at $0.457, it has displayed acute strength, being self-assured of maintaining a significant upswing. Although the volume remains relatively low, the activity on the platform spiked iconically. XRP user activity has soared for the third time in the past three months, signalling the possibility of triggering the next bullish wave soon.
The XRP active address is again on the rise. The active address count is the number of addresses that interacted with the platform to carry out a trade, regardless of whether it was a buy, sell, or swap trade. The previous couple of times in March and May, when the active address count spiked high, the XRP price also experienced a jump of over 20% to 25%. Presently, when the price is hovering around $0.476, the upcoming bullish wave may lift the price close to $0.58.
The XRP price continues to trade within an ascending triangle and is trying to rebound from the lower support. Besides, the RSI continues to hover along the lower support and has triggered a rebound. Furthermore, the MACD is closer to undergoing a bullish crossover, which may lift the price high in the coming days.
Collectively, the XRP price continues to trade within an ascending triangle for the whole month of July and may reach the apex by the end. Till then, if the Ripple vs SEC lawsuit final lawsuit is produced, then one can expect a healthy upswing beyond $0.6 very soon.
Has The Bitcoin Spot ETF Pump Ended? Here’s When BTC Price Could Reach $40K
The Bitcoin Spot Exchange-Traded Fund (ETF) has been a significant catalyst in the recent bullish rally that saw Bitcoin’s price touch near the $31,000 mark. However, the recent turmoil near $30K in Bitcoin’s price has raised questions about the sustainability of its uptrend. The pump led by the Spot ETF applications, which had previously fueled the bullish rally, appears to be fading. Bitcoin is currently facing a lack of buying pressure to initiate a further surge above $31K.
Bulls Prepare For A Correction
The performance of Bitcoin’s price had made a notable impression just a day prior, with the leading cryptocurrency revisiting the $30,000 threshold for the first time since mid-April.
Now, anticipation is growing for a potential minor correction to follow. This could pave the way for profitable entry points for additional long positions. According to a prominent crypto analyst, Michael van de Poppe, founder and CEO of trading firm Eight,
“I think, $28.500 is a great spot for longing, the lower the better, but I think that’s the zone where you want to get it before we’ll continue to $40,000.”
From this point, Bitcoin’s price mainly depends on the approval of spot ETF as the SEC looks to create a roadblock, which may plunge the BTC price in the upcoming days. According to trading firm QCP Capital, the likelihood of Bitcoin having its first spot price exchange-traded fund (ETF) in the United States anytime soon appears to be low.
Despite the inevitable rise of institutional participation in the Bitcoin arena, QCP suggests that the current composition of the SEC makes the approval of spot ETFs less likely.
The situation is further complicated by the current SEC Chair, Gary Gensler. Under his leadership, the regulatory body has initiated lawsuits against major cryptocurrency exchanges like Binance and Coinbase. QCP expressed their lack of confidence in the near-term approval of the ETF, given Gensler’s current leadership of the SEC.
Bitcoin Consolidates Near $30K, What’s Next?
Despite Bitcoin’s successful breach of the $30K threshold, the bears are currently stirring up chaos as the BTC price struggles to rise above $31K and even struggles to maintain momentum above the $30K mark. As of writing, BTC price trades at $30,020, experiencing a minor increase of 0.8% in the last 24 hours.
However, the bears are not expected to back down easily. They will likely attempt to stall the rally at $31,000. But if the bulls manage to hold their position, it could increase the chances of a rally surpassing the overhead resistance. If this occurs, the Bitcoin price could potentially climb to $32,421. The bears will likely put up a strong fight at this level because if they fail to hold it, the price could skyrocket to $40,000.
For the bears to trap the bulls, they would need to pull the price back below the EMA20. This could lead to a long liquidation and put the $26.8K-$27.4K support on the horizon.
Ethereum Dip Offers Bullish Opportunities, Here’s Where the ETH Price Can Reach in July 2023
The crypto space has been undergoing extreme volatility for the past few weeks, challenging bullish strength every now and then. While Bitcoin’s dominance is increasing, Ethereum and the rest of the altcoins are trying hard to keep up with the pace. Woefully, the majority of the altcoins continue to trade under the bearish influence, while Ethereum manages to display significant strength, aiming to reclaim positions above $2000 in the next few days.
The ETH price in the daily charts, appears to be extremely strong as it managed to bounce off of the crucial support at the 200-D MA, around $1642. However, the price is yet to climb above the 100-D EMA at $1783, and hence, these levels become crucial resistance and support levels that may decide the next action for the Ethereum price rally.
Ethereum Adoption Widens While Whales Accumulate
The recent price drop attracted many to the platform, due to which the active supply reached new highs. These are the unique addresses that have transacted at least once in the specified interval of time. They can also be considered the new addresses created in a day, which suggests the adoption rate of crypto.
The number of addresses that transacted at least once has begun to add up since the first week of April and has been making new highs since then. This indicates the growing adoption of the token in the past couple of months. Besides, whale accumulation has also been soaring since almost the same time.
The above chart illustrates the supply in the top 1% of addresses, which can also be considered whale addresses as they hold nearly 1% of the circulation. The supply has been rising regardless of ETH price movements since April and has managed to form new highs every day.
Therefore, it may also be speculated that new ETH whales may have entered the ring. This may have a bullish influence on the second-largest crypto in the long term which may propel the price towards higher targets.
Top Reasons Why Bitcoin’s Price May Reach $30,000 Before This Weekend!
The Bitcoin price has been bullish since the early trading hours, as the prices have risen up from the previous day’s lows at around $26,500. The price is currently trading above $27,200 but requires a minor boost to break above the crucial resistance at $27,500. Although, the token displayed a bewildered price movement, the possibility of a bullish breakout appears to be pretty high after the recent upswing.
The moving average, or MA, levels are considered one of the important resistance or support levels. The hourly or daily MA levels offer the base in case of an extended bearish trend, and hence rising above these levels, flashes bullish signals for the crypto in the short term. However, if the price surges above the weekly MA, then it can be considered bullish in the long term, regardless of whether the rally is trading under the bearish influence in the short term.
Presently, the BTC price is trying to bounce off the 200-week MA levels, which displays the accumulated strength among the bulls. The bulls are slowly elevating the price, which appears to be a sluggish trend for the bears. Therefore, this may be the reason that the price has remained stuck within the region without rising above the resistance or plunging below the support levels.
Therefore, it is now important for the Bitcoin (BTC) price to sustain above $27,000 and try to surge beyond the crucial resistance at $27,500 initially and later at $28,000. However, the price is required to reach above $29,000 anyhow which may trigger a healthy upswing to test $30,000. Although the bears may quickly attempt to dominate the rally, the bulls may hold the price above the support levels and trigger a fine upswing ahead.
Can The Dogecoin Price Reach $1? No, But COPIUM Might Explode
Meme coins are the talk of the town at the moment. While many analysts struggle to see DOGE reach $1, other meme coins look set for enormous growth.
One of those tokens is COPIUM. This meme coin is all the rage at the moment. We explain why and all about it here.
DOGE Can’t Seem to Fight Against This New Token
Dogecoin was once the king of meme coins, but it looks like that it that may no longer be the case. Enter COPIUM, a token that looks like it can go 50x while DOGE will struggle to reach $1.
COPIUM, a recently launched meme coin designed to assist traders in managing the crypto market’s volatility, has made a remarkable debut on Uniswap, quickly surging in value. Traders and analysts are highly optimistic about COPIUM’s potential to achieve a 1000x increase, similar to the success of recent meme coins such as $PEPE and $SPONGE. Within minutes of its, the coin experienced a staggering multi-fold gain. The price of COPIUM is continuing to rise rapidly as traders eagerly invest in the token.
COPIUM Joins the Meme Coin Mania
Copium Club aims to establish a light-hearted and self-ironic community that serves as a support system for traders seeking solace in the aftermath of the recent frenzy surrounding meme coins. Whether individuals missed out on significant token surges or found themselves holding devalued assets, Copium offers a community of like-minded meme coin traders. The project emphasizes that humor has the potential to lead to financial success, even for those who bought at the peak.
This concept is expected to resonate with crypto traders, many of whom have experienced turbulent fluctuations in the meme coin market in recent weeks. For instance, PEPE skyrocketed by over 6,000% before undergoing a significant crash, leaving room for redemption for those who purchased at the peak. Consider purchasing COPIUM on Uniswap.
Vested Presale Unlocks Tokens Over 3 Weeks
In contrast to previous meme coin projects, only 10% of the COPIUM owned by presale investors became accessible before the DEX launch, while the remaining 90% of tokens will gradually unlock over the course of the next three weeks. This approach represents a significant departure from the norm and prevents early investors from abruptly exiting the market, even as new traders enthusiastically enter the COPIUM ecosystem.
This particular aspect contributes significantly to why crypto influencers anticipate COPIUM to achieve a staggering 100x increase in value. A fair launch attracts a broader range of traders, and with over a quarter of the COPIUM supply locked up at launch, the conditions are set for explosive price dynamics.
COPIUM Airdrop Stirs Frenzy
The team behind Copium Club has introduced an additional incentive to enhance the token’s launch appeal—a rewarding airdrop. Within a short period after the launch, the top 200 investors in Copium will be eligible to receive an NFT. This NFT can be redeemed for an airdrop of COPIUM tokens scheduled to occur two weeks later. To determine the top 200 investors, a snapshot will be taken two hours after the launch.
The quantity of COPIUM tokens allocated for each investor in the airdrop depends on their holdings and the duration of their ownership. Represented as a tank, the NFT gradually fills up to 5% daily based on the investor’s continuous token holdings. After two weeks, the top 200 investors will be able to claim their airdrop by utilizing their NFT, and the amount of COPIUM they receive will correspond to the level of filling in their tank.
This creates a strong incentive for investors to acquire a significant amount of COPIUM before the two-hour post-launch snapshot. Subsequently, the largest investors of the token are motivated to retain their holdings for a duration of two weeks, refraining from selling. This strategic decision effectively restricts the availability of supply at a time when demand for COPIUM is at its peak.
Strong Potential for COPIUM
Despite the Copium project’s exclusive and limited presale, which restricted its initial attention compared to other emerging meme coins, the recent launch on Uniswap has swiftly captured the interest of crypto traders and influencers.
COPIUM has garnered support from influential figures within the crypto industry, including renowned influencers like Faze Banks (with 2.8 million Twitter followers), DeeZee (250k followers), Cozomo de’ Medici (289k followers), and foobar (130k followers).
Furthermore, COPIUM is rapidly establishing its own dedicated social following. Its Twitter account has amassed over 14,000 followers, while the COPIUM Telegram community, even though not officially launched, has already attracted nearly 1,000 members.
Conclusion
COPIUM is one of those meme coin opportunities that come along very rarely. Those interested in this project and meme coins, in general, should certainly check it out.
Casper (CSPR) to reach $0.10 As Yachtify (YCHT) To Cater To Maritime Industry
Yachtify (YCHT) network is making it easier to participate in the maritime industry. It is removing the high-cost barrier that has long dissuaded many investors from participating in the yacht lending industry. Elsewhere, Casper (CSPR) continues a robust and impressive rally which is expected to last until the end of the year.
Yachtify (YCHT) network to Cater To Boat Traders
Yachtify offers users several ways to invest in the industry, including buying, selling, and renting out shares of luxury sea vessels like jet skis and yachts. The network is committed to finding the best investment opportunities for its users. Yachtify uses specialists in the boat lending industry to identify yachts with the best sale and lease potential.
Users are then given the opportunity to invest in such vessels. Furthermore, Yachtify sells and rents yachts to maritime schools around the world, and its users are paid commissions whenever their vessel is rented out. The size of commissions paid depends on the size of the vessel owned by the investor.
Yachtify further provides a lending protocol where users can get loans by using their Yachtify assets as collateral. Furthermore, the platform is working around the clock to ensure that other Yacht charter businesses accept Yachtify tokens as a form of payment.
Yachtify is perfectly suited to capitalize on the stunning growth of the maritime industry since the end of covid lockdowns. Users get extra benefits like discounts on boat rental, storage fees, fuel, and other maintenance costs. They also get free sailing lessons and yacht-free days.
Right now, the Yachtify token costs as low as $0.10. Joining the project while it’s still very cheap might be a good idea. Even better, there is an ongoing 30% bonus for all new investors.
Join Presale: https://buy.yachtify.market
Website: https://yachtify.market
Telegram: https://t.me/yachtify
Twitter: https://twitter.com/yachtify_market
Casper (CSPR) To Reach $0.10 by Year’s End
Casper (CSPR)’s recent market performance has led many investors to believe the token will reach $0.10 by the end of the year. Casper (CSPR) has rallied strongly since the start of the year. Even more, it recovered from a March slump with a lot of bullish momentum.
Casper (CSPR) was trading at $0.02 at the start of the year. It then rallied to $0.03 by the third week of January. It dropped slightly again before reaching $0.04 in late February. The price tanked a bit by March, and Casper (CSPR) dropped to $0.035. By mid-April, Casper (CSPR) had recovered impressively to reach $0.052. It rallied to $0.06 by the end of April.
At the time of this writing, Casper (CSPR) is trading at $0.05. What’s most impressive about Casper (CSPR)’s performance in 2023 is the relatively low volatility despite its high growth. It has also recovered very well from its slumps in March and early April. As the crypto winter is coming to an end, it will be interesting to see how Casper (CSPR) will continue to perform in the coming months. Some investors have already predicted that Casper (CSPR) will reach $0.10 by the end of the year.
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Here’s Why Bitcoin’s Price May Not Reach $30,000-Will FOMC Offer Require a Boost?
The Bitcoin price is undergoing a pretty rigid phase as it is failing to inculcate the required momentum to hit $30,000. The bears are successfully restricting the price at the interim threshold as the bulls continue to remain resilient. While the volume has soared to some extent, the price is believed to remain volatile as the FOMC meeting on the fresh interest rate is underway.
Although the price faced a fine rejection, it continues to remain within a profitable region but is believed to drop down towards the lower band soon. In the meantime, the star crypto shows some positive signs, which were attributed to two important support levels. Presently, the price is approaching a minor resistance in the 28,900 to $29,000 range.
In the short term, the local solid supports are at the Fibonacci level of $27,666 and the lower Bollinger band of $27,637. Besides, minor resistance can be seen at the 0.5 Fibonacci level of $28,817 and the upper Bollinger band of $29,603. In between these levels, the middle, or average, levels of the bands are around $28,620.
In the case of a bullish breakout through the minor resistance at the 0.5 Fibonacci level of $28,817 and the upper Bollinger band of $29,603, it indicates a potential upward trend. Further, if RSI crosses above 50 levels, the MACD starts to rise and the volume oscillator turns positive. If all these indicators align, a steady rise in the Bitcoin price may be expected, testing the Fibonacci level of $29,969.
Also Read: FOMC News: Here’s What Bitcoin (BTC) Traders Can Expect With FED Increasing Interest Rates
Conversely, in a bearish scenario, if the BTC price fails to break through the minor resistance and instead breaks below the local solid supports at the Fibonacci level of $27,666 and the lower Bollinger Band of $27,637, it could indicate a potential downtrend. However, if the RSI crosses below 50, the MACD may continue to decline while the volume oscillator remains negative. This may cause the Bitcoin price to face rejection and test the 24-hour low at around $27,910.
Currently, the fresh interest rates could be announced any time from now and hence the BTC price seems to be volatile and uncertain. Although the price may tend to flash bullish signals, one needs to be pretty cautious and keep a close watch on the bullish and bearish scenarios.