Bitcoin is still the leading proof of work blockchain and has already made massive moves over the years, with countless millionaires at the same time. However, with the price of Bitcoin having moved so much already, the upside is fairly limited, especially for crypto investors who do not have ample buying power to make a Bitcoin investment worth their while.
In this vein, altcoins offer the best opportunity for smaller and retail investors to make the most money. But not just any altcoins; these coins also employ the proof of work mechanism, just like Bitcoin, making them a good choice, especially when they are newly launched.
QUBIC: A Proof Of Work Coin Like Bitcoin
The Qubic (QUBIC) coin is already making the rounds on social media platforms such as X (formerly Twitter) and with good reason. The blockchain uses a proof of work mechanism like Bitcoin. Led by IOTA co-founder Dominik Schiener, it has already garnered a reasonable following based on Schiener’s reputation.
The coin is still trading well below $0.1 which could make it a good buy in the long run. With a current circulating supply of 71.425 trillion, its current market cap is currently sitting at around $200 million. 16% of the total supply has reportedly been burned already.
Nexa (NEXA) Leads POW Altcoins
Next (NEXA) is another proof of work blockchain, but unlike Bitcoin, it uses the UTXO Layer. This means that Nexa is a proof of work blockchain that is also able to support native tokens and smart contracts. To mitigate the problem of scalability often encountered by the likes of Bitcoin and Ethereum, Nexa employs Signatures and UTXO lookups.
The Nexa token is currently trending below one cent with an around $35 million market cap at the time of writing. Given the kind of run that Kaspa (KAS) had even through a bear market, it puts in perspective the opportunity that lies with this token.
Firo (FIRO)
Firo (FIRO) is another proof of work coin that also holds a lot of promise among the altcoins that fall into this category. It rebranded from ZCoin and is a privacy-first coin, meaning it mixes two of the most sought-after attributes right now in the crypto market.
Its price is $1.87 with a fully diluted market cap of under $40 million. This makes it the coin on this list with the lowest fully diluted market cap. Its price has been relatively stable for the last week, which could suggest that accumulation is happening ahead of a possible breakout.
Miles Deutscher, a crypto analyst, recently shared insights on altcoins that are catching his attention for the upcoming week. In a post on X, he starts by noting the market’s recent cool-off, suggesting this phase is creating new opportunities for savvy investors. Deutscher also emphasizes the importance of staying informed and ready to capitalize on these shifts.
Top Altcoins To Watch This Week
Injective (INJ)
According to Deutscher, Injective (INJ) is experiencing a lull in hype, but this should not undermine its strong performance throughout the year. He believes that if the bullish momentum continues, INJ could reach its local highs in the $19’s. “Monitoring closely, as it runs hard when it runs,” Deutscher states, highlighting the potential for rapid gains.
At press time, INJ was trading at $15.88 after being rejected at the 0.618 Fibonacci retracement level of $17.13.
Deutscher points out that PYTH is in an interesting position with attributes favored by the market: it’s a new, shiny coin with a low float and perpetual contracts. However, competition from other Solana tokens, like Jupiter and JITO, may temporarily divert attention. For those already holding PYTH, Deutscher advises to hold but not to add more unless the price drops.
SuperFarm (SUPER)
SUPER is part of the trending gaming narrative and has been gaining attention from significant creators and influencers. Despite its volatile funding, Deutscher sees potential for a FOMO-driven price increase. “It could be one of those ‘it’s already up too much, I’m not buying’ plays,” he speculates, suggesting that late buyers might drive the price even higher.
Cosmos (ATOM)
The recent approval of the ATOM Halving proposal is a significant development for Cosmos. This change will halve the maximum inflation rate from 20% to 10%, potentially impacting ATOM’s price action (PA). Deutscher is watching this closely for signs of a developing trend.
dYdX (DYDX)
The unlocking of $524 million worth of DYDX on November 28th is a crucial event, especially since these tokens will be released on the DYDX chain, not supported by centralized exchanges (CEXs). Deutscher anticipates a complex interplay of market psychology around this event. “Watching to see if the head and shoulders pattern continues to play out,” he comments, suggesting possible price movements following the unlock.
Solana (SOL) And BONK
SOL’s struggle to break past $58 is noted by Deutscher, placing it in a “no trade zone” for now. However, a breakthrough could lead to significant gains. BONK, a Solana-based meme coin, is also on his radar due to its higher volatility and correlation with Solana’s movements.
SOL price fell below the 0.382 Fib, 1-week chart | Source: SOLUSD on TradingView.com
Vertex (VRTX)
Finally, Deutscher highlights the significant volume increase on Vertex, surpassing DYDX and Uniswap. Despite suspicions of wash trading due to low open interest (OI) compared to volume, he sees potential in Vertex and perceives a resurgence in the popularity of perpetual decentralized exchanges (DEXs).
Featured image from iStock, chart from TradingView.com
XRP could witness a massive selloff in the coming days, as shown by on-chain transfer data. According to transaction alerts from crypto whale tracker Whale Alerts, two whale-sized transactions involving XRP have recently made their way onto cryptocurrency exchanges Bitso and Bitstamp, prompting investors to ponder the reasons behind the transactions and speculate on possible outcomes.
Massive transfers by whales can often increase selling pressure if they sell and take profits, which could cascade into the price of the asset, even if only temporary.
Whale Transfers 50 Million XRP To Exchanges
XRP has gone through consolidation for the past two weeks in the midst of a market lull. According to Coinmarketcap, the altcoin’s trading volume is also down by 43.59% in the past 24 hours. Before this period however, a whale made a transfer of 50 million XRP worth approximately $31 million to exchanges, prompting investors to wonder if this is a part of the ongoing consolidation and if the transfers are a selloff.
According to Whale Alerts, a transfer of 25.2 million XRP tokens worth $15.66 million was made to crypto exchange Bitstamp on November 23. Shortly after, 25 million XRP tokens worth $15.55 million were sent to crypto exchange Bitso. Looking into the details of the two transactions on blockchain explorers reveal they were made from the same address “r4wf7e”.
Total crypto market cap is currently at $1.4 trillion. Chart: TradingView.com
A deeper look reveals address “r4wf7e” received 55.87 million tokens from address “rJgpQR” and then went on a spending spree in the hours after. The next few hours would be full of transactions ranging from 20,000 to 25 million XRP tokens to Bitstamp, Bitso, Independent Reserve, and some private addresses.
Speculation On Why The Whale Is Moving XRP Now
The transfers into various exchanges have signaled that the whale intends to sell its holdings. However, there could be other reasons for the transfers, which could just be the whale wants to have their XRP readily available on the exchanges without even selling yet.
Of course, this is all speculation. There’s no way to know the whale’s exact intentions or how much token they plan to buy or sell, if any. But when amounts this large move onto exchanges, it often signals volatility ahead.
On the other hand, data from on-chain analytics platform has shown whales purchased 11 million tokens worth $6.82 million in the just concluded week. The buying spree suggests there could still be a bullish sentiment among some whales.
XRP is trading at $0.62 at the time of writing. The cryptocurrency crossed over $0.7 again earlier this month but has struggled to continue this momentum. However, according to crypto analyst CryptoInsightUK, the token has a good chance of replicating the 61,000% gain it enjoyed back in 2017 before the SEC lawsuit.
Another analyst, Edward Farina, predicted Ripple has the potential to replace the current SWIFT system, at which point XRP could surge to $10,000.
How to find the best altcoins for the next bull run? Our 2024 guide provides in-depth insights into potential market leaders.
As we edge closer to 2024, the cryptocurrency market is ripe with discussions about the next crypto bull market.
In the wake of the 2022 crypto winter, the market has seen a significant shakeup, with the total market capitalization dropping to around $1.4 trillion as of Nov. 2023 from $2.2 trillion at the end of 2021.
However, this decline hasn’t dampened the spirit of institutional investors who continue to adopt a long-term view of the market, recognizing its cyclical nature.
This coming year is expected to unfold under three key themes: a flight to quality among institutional investors through a Bitcoin ETF, Bitcoin halving, and regulatory reforms that could set the stage for the next growth cycle in the crypto world.
Amidst these changes, altcoins are attracting attention. This article delves into this question, offering insights and analysis on the altcoins that hold promise in the evolving landscape of cryptocurrency.
Signs of a crypto bull run
Growing trading volumes
What is a bull run in crypto? A crucial indicator of a bull run is a surge in trading volumes across cryptocurrency exchanges. Historical data from major bull runs, such as the one in late 2017, showcases this trend vividly.
For instance, Bitcoin’s (BTC) trading volume in December 2017 escalated to unprecedented levels, crossing $50 billion, compared to average volumes of $1-2 billion in preceding months. Similarly, Ethereum’s (ETH) trading volume mirrored this pattern, signaling widespread investor engagement.
If this pattern continues in the coming months or 2024, it could be a good sign of an upcoming bull run.
Institutional embrace
Institutional investments serve as a strong validation for cryptocurrencies. The 2020-2021 bull run was partially catalyzed by substantial investments from corporations.
Tesla’s $1.5 billion investment in Bitcoin and MicroStrategy’s continuous Bitcoin acquisitions exemplified growing institutional confidence.
Such moves not only infuse substantial capital but also enhance the legitimacy of cryptocurrencies in the eyes of retail investors.
Increased adoption and integration
A clear sign of a bull run is the growing adoption of cryptocurrencies in mainstream financial systems and businesses.
For example, during the 2020-2021 bull run, PayPal introduced crypto buying and selling, greatly enhancing accessibility for everyday users.
Similarly, major financial institutions like JPMorgan started offering crypto funds to clients, demonstrating a significant shift in the traditional finance sector’s approach to digital currencies.
Regulatory clarity and positive government stance
Regulatory developments can have a profound impact on cryptocurrency markets. A positive regulatory environment, or even hints at a more accommodating stance from governments, can trigger a bull run.
For instance, when El Salvador recognized Bitcoin as a legal payment method in September 2021, it contributed to a significant boost in investor confidence, leading to BTC reaching its all-time high in November 2021.
Similarly, upcoming announcements from the SEC regarding the approval of spot Bitcoin ETFs could add to the growth of cryptocurrencies and have a positive effect on market sentiment.
The investor psychology
Market sentiment is a critical gauge of the overall mood in the cryptocurrency ecosystem.
Tools like the Fear and Greed Index measure this sentiment by analyzing variables such as market volatility, social media trends, surveys, and market dominance.
For example, during the 2021 bull run, this index frequently exhibited high “greed” levels, reflecting strong investor optimism.
Conversely, preceding the bull run, the index displayed “fear” or “neutral” sentiments, reflecting uncertainty or balanced market conditions.
If we see a notable spike in this indicator in the coming days or months, then it could be a sign that the market is heading towards a bull run.
Preparing for the next crypto bull run
How to predict the next bull run
Predicting the exact timing of the next crypto bull run is challenging due to the market’s inherent volatility and the influence of global economic factors.
Historically, crypto markets have shown a tendency to follow Bitcoin’s halving cycles, with bull runs typically occurring every four years. However, evolving market dynamics and regulatory landscapes make precise predictions difficult.
Duration of a bull run cycle
Cryptocurrency bull runs can vary significantly in duration. Historically, they have lasted anywhere from a few months to over a year.
The length of a bull run is influenced by factors such as market adoption rates, technological advancements, regulatory changes, and macroeconomic conditions. Understanding the duration of a bull run requires analyzing these dynamic factors in real-time.
Hence, while it’s challenging to predict the exact timing and duration of the next crypto bull run, monitoring key indicators can provide valuable insights into market trends. Investors should remain vigilant and informed, considering both market signals and broader economic contexts.
What can we expect from altcoins?
Throughout 2023, the cryptocurrency market has experienced significant fluctuations, with some altcoins showing remarkable gains.
As we move into 2024, understanding if these trends will keep going means looking at how these altcoins did in 2023 and what might happen to them next.
Here are a few of the biggest gainers of 2023:
Kaspa (KAS)
Kaspa (KAS) has emerged as a standout cryptocurrency in 2023, registering a staggering 1800% gain over the year, with its price reaching $0.1291 as of Nov. 22.
This cryptocurrency operates on a unique architecture, utilizing a blockDAG (Directed Acyclic Graph) protocol to enhance its scalability and transaction speed compared to traditional blockchain systems. This technological edge has been a key driver in its impressive market performance.
In 2023, Kaspa’s price movements showed considerable volatility but with a generally upward trend.
Looking ahead to 2024, some predictions based on historical price movements and Bitcoin halving cycles suggest that Kaspa could sustain its upward trajectory.
However, as with any investment in the volatile cryptocurrency market, potential investors should consider both technical and fundamental factors before making decisions.
The future of Kaspa, while promising, will depend on broader market trends, technological advancements, and investor sentiment.
Render token (RNDR)
Render token (RNDR) has marked a significant presence in the cryptocurrency landscape with over 700% gains over the past year, trading at $3.41 as of Nov. 22.
RNDR is an ERC-20 compatible utility token underpinning the distributed RNDR Network. This network is a peer-to-peer GPU compute platform, connecting creators needing extra computational power for rendering visual content with providers offering GPU power in exchange for RNDR tokens.
Throughout 2023, RNDR has shown bullish trends. This positive outlook is bolstered by the token’s utility in the growing field of digital graphics and the increasing demand for decentralized computing resources.
However, traders should exercise caution as the market is very volatile and the price of RNDR token could collapse anytime.
Solana (SOL)
Solana (SOL), a high-performance blockchain known for its fast transactions and low fees, has seen significant growth in 2023.
The cryptocurrency’s native token, SOL, has registered a remarkable 390% increase over the last year, trading at around $55.09.
From the beginning of the year, SOL has surged, demonstrating market resilience. This growth was driven by Bitcoin’s rally, SOL’s network improvements, and increased liquid staking activities on Solana based platforms like Jito, Marinade, and MarginFi.
Looking towards 2024, Solana’s trajectory appears to be positive, but with some fluctuations expected. However, investors should remain aware of the inherent unpredictability and volatility of the crypto landscape.
The road ahead
As we anticipate the next crypto bull run, it’s essential to recognize the dynamic and ever-evolving nature of the cryptocurrency market.
Predictions suggest a possible crypto bull market in 2024, spotlighting altcoins as potential key players. While these tokens show promise, the future remains uncertain. Investors should remain vigilant, continuously educate themselves about market trends, and adapt to new developments.
The best strategy in such a fluid market is cautious optimism. Investors are advised to exercise due diligence, diversify their portfolios, and only invest what they can afford to lose.
Staying informed about regulatory changes, technological advancements, and global economic factors is crucial as these can significantly impact the market.
Remember, the journey through the cryptocurrency landscape is not just about identifying the next big token but also about understanding the underlying technologies and their real-world applications.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Ben Armstrong, a well-known crypto analyst and YouTuber has recently offered an intriguing perspective on XRP’s current trading value.
XRP, a token closely watched in the crypto community, particularly after its legal battle with the US Securities and Exchange Commission (SEC), currently trades at around $0.60. While this figure might not represent an all-time high, Armstrong highlights why this price point might be pivotal for XRP.
The Bigger Picture: Institutional Interest And Market Dynamics
Armstrong’s analysis begins with the “adamantium” support level of $0.60 for XRP. Drawing an analogy with the fictional character Wolverine, who famously recovers from severe damage, Armstrong sees XRP’s resilience at this price as a sign of robustness.
Each time XRP’s value dips, it seemingly rebounds from this critical support level, suggesting a strong market faith in the token.
Armstrong goes beyond price analysis to consider broader market dynamics in his video. He notes that XRP’s previously traded price level of $0.62 has become particularly attractive to institutional and corporate investors.
Whale transactions involving substantial quantities of XRP have increased significantly, indicating heightened interest from large-scale investors. This trend aligns with a broader global crypto market cap increase, suggesting ample liquidity for significant investments.
Armstrong also touches upon the strategic aspect of XRP’s price following Ripple’s legal victory over the SEC. He posits that a post-verdict price surge might have limited the token’s accessibility to a broader audience.
However, the current steadier price range, a retrace of the previously seen $0.72, allows for a more extensive accumulation of XRP, potentially setting the stage for a bigger bull run.
XRP Latest Price Action
XRP’s market performance has recently shown a notable decline, with its price falling by over 10% in the past two weeks. At the time of writing, XRP is trading at approximately $0.605, reflecting a 2.3% decrease in the past 24 hours.
XRP price is moving sideways on the 4-hour chart. Source: XRP/USDT on TradingView.com
Despite a significant bullish trend earlier this year, where it surged by 70.3% year to date, XRP remains substantially lower, down by 82.20%, from its all-time high of $3.40 in 2018.
This downward trend extends beyond just XRP’s price. The past two weeks have also decreased the asset’s daily trading volume, descending from highs of around $2.5 billion early last week to roughly $1.1 billion in the past 24 hours.
This decline in trading volume may signal a decrease in investor interest or market activity surrounding the asset, contributing to its reduced price.
Moreover, the broader crypto market has seen a mix of volatility and bearish trends, which might influence XRP’s performance. So far, Bitcoin has also declined by 2% in the past 24 hours, resulting in the drawdown of the global crypto market cap of 1.3% over the same period.
Featured image from Unsplash, Chart from TradingView
Dogecoin supporters are celebrating a 35% increase in the last month. While this is good news, other altcoins like Solana, Chainlink, and Cardano (ADA) have outperformed, with gains of 170%, 118%, and 55%, respectively, in the same timeframe.
According to one crypto analyst, DOGE’s rally isn’t over, as recent price action suggests the crypto is on the verge of a bullish breakout.
Crypto Analyst Confirms Dogecoin Breakout
Dogecoin has officially broken out of a descending channel pattern, according to crypto analyst Rekt Capital. The analyst confirmed this in a recent post on social media platform X. Rekt Capital has been following the meme token in a series of posts in a thread since August, sharing updates of its price on a 1-week DOGE/USD chart.
A look into price action on the chart indicates Dogecoin has been on a downward channel starting from the last quarter of 2022. Since then, DOGE has created a series of lower highs and lower lows between the trendlines to indicate the bears having major control of the market. However, things started to change in the middle of October, and a breakout past the channel top became glaring.
At the time of writing, the meme token has formed four consecutive bullish candles since it rebounded from the channel bottom. Rekt Capital has previously emphasized that a weekly close over the channel would cement a shift in trend, as the crypto has only registered misleading wicks over this point in the past year. A breakout over the resistance trendline has now been confirmed after a brief retest.
Bitcoin (BTC) is currently trading at $37.081. Chart: TradingView.com
What’s Next For Doge?
Rekt Capital’s previous analysis has put the price rally in case of a strong break out at just over the top of the channel’s highest high at $0.15. Dogecoin is currently trading at $0.07827 and is already up by 39% from its October bottom. A rally to $0.15 would represent a gain of over 90% from its current price and a gain of 163% from its October bottom.
DOGE finally broke over the $0.076 level a few days ago as whales worked tirelessly to push the meme coin to a rally. IntoTheBlock data shows whales have injected more than $2 billion into DOGE In 30 Days. Social dominance is also rising on social media, indicating a bullish sentiment on the short term. Popular anonymous crypto analyst Kaleo believes a stronger rally will be ignited when DOGE finally crosses over $0.08.
fwiw – still hasn’t started yet, don’t think we really see insane momentum until 8 cents is cleared
Kaspa (KAS) has emerged as a notable altcoin, drawing considerable interest from investors. Notably, the cryptocurrency has achieved its all-time high, experiencing an impressive 66% increase over the previous week.
Examining the monthly performance charts reveals an even more substantial upward trajectory, with KAS exhibiting a remarkable surge of over 90%. Zooming out to a year-long perspective, the altcoin has witnessed an astonishing increase of over 2,000%, showcasing its significant growth over this extended period.
Investors are closely monitoring Kaspa as it continues to showcase strong bullish momentum, reflecting the cryptocurrency market’s dynamic nature. The rapid and substantial increases in both short-term and long-term intervals underscore the token’s potential for high returns.
Kaspa Shows Mettle, Pulls Off Its Own Rally
With Bitcoin surpassing the $36,800 threshold and Ethereum exceeding $2,000, the native token of Kaspa pulled off its own ascent, rising from approximately $0.070986 to reach an unprecedented peak of $0.092917.
Based on the aforementioned data, it can be observed that Kaspa is one of the limited number of tokens now experiencing their highest recorded values. Many cryptocurrencies registered a significant decline from their historical peak values following the occurrence of a market downturn commonly referred to as the “crypto winter.” This period witnessed the collapse of prominent crypto entities such as Terra Luna and FTX crypto exchange.
Based on the data provided by CoinMarketCap, it can be observed that the trading volume of Kaspa’s (KAS) has experienced a significant surge of more than 95%.
Source: CoinMarketCap
Additionally, the market capitalization of KAS has exhibited a notable gain of nearly 20%. Furthermore, there has been a significant increase in trading volume, with a jump of around 380% compared to the preceding week. The current market capitalization of the project stands just above $1.8 billion.
This increase in value positions Kaspa as a compelling investment option, capturing the attention of those seeking opportunities in the ever-evolving landscape of digital assets. As the altcoin landscape continues to evolve, Kaspa’s impressive performance highlights its resilience and appeal, making it a noteworthy player in the cryptocurrency market.
KASUSDT trading at $0.089 on the weekend chart: TradingView.com
The inclusion of Kaspa on Coinone’s platform is its initial foray into the cryptocurrency market in South Korea, granting it significant visibility among a group of investors who are very interested in blockchain initiatives and digital assets. The unique GHOSTDAG protocol, authored by Kaspa, garnered the interest of Korean traders.
Kaspa Makes Foray Into South Korea
The latest indication of Kaspa’s growing popularity among cryptocurrency traders and investors is its successful entry into the South Korean market. As Kaspa develops and realizes its lofty vision of scalability, security, and practical application, it appears ready for more expansion.
KAS’s future trajectory remains uncertain, with the potential for further rally or a correction. Reaching $1 would signify a remarkable 1062% growth, though it seems unlikely currently. The possibility of a correction looms, despite community members maintaining a target of at least $0.10.
The recent surge in Bitcoin (BTC) to a yearly high of over $36k may have influenced KAS’s all-time high, suggesting that KAS and other altcoins could follow BTC’s lead if it continues to rally.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
The crypto market is set to experience significant token unlocks in November, with projects such as Aptos (APT), Avalanche (AVAX), and Hashflow (HFT) leading the way.
These unlocks are anticipated to release more than $320 million worth of tokens, contributing to the overall $450 million set to enter circulating supplies in the crypto market this month.
It is worth noting that such substantial releases could have immediate and long-term effects on both the price and availability of these digital assets.
Aptos And Top Players In November’s Token Release
Token unlocks are events where previously locked tokens become available for trading, often increasing a project’s circulating supply. These events are critical moments for projects, as they can signal maturation and a new phase of market dynamics.
Aptos, a Layer 1 blockchain created by former Meta executives, is expected to have the most significant token unlock by value, releasing 24.8 million APT tokens, currently representing about $165.6 million at today’s price.
Aptos’s upcoming unlock on November 12 is not just substantial in value but also notable for its distribution, with core contributors, investors, the community, and the Aptos Foundation all set to receive portions of the release.
Meanwhile, Avalanche, another Layer 1 blockchain, is preparing for its considerable token unlock later in the month on November 24, which will see 9.54 million AVAX tokens (valued at approximately $99.3 million at today’s price) released, marking 2.7% of its circulating supply.
Hashflow, a multi-chain decentralized exchange, is slated to have the largest token release by circulating supply percentage. It is poised to unlock 160.38 million HFT tokens, approximately 73.9% of its circulating supply, on November 7, injecting roughly $42 million into the market.
The distribution of these tokens will span early investors, ecosystem development, the core team, and community rewards, adding another layer to the economic activities of the project.
Other Notable November Token Unlocks
Other projects like Optimism (OP), ApeCoin (APE), and Sui (SUI) are also scheduled for significant token unlocks this November. However, they pale in comparison to the top three in terms of value. Optimism is set to unlock 24.16 million OP tokens worth $32.4 million.
Each unlock carries potential implications for the broader crypto market, as they may affect liquidity, trading volume, and investor sentiment. Furthermore, out of these six tokens above set to unlock this month, Aptos and Avalanche are the top gainers.
Aptos (APT) price is moving sideways on the 4-hour chart. Source: APT/USDT on TradingView.com
Currently, both assets are up 38% and 22%, respectively, in the past 14 days. APT trades at $6.82, down by 2% over the past 24 hours, while AVAX trades at $11.02, down by 2.7% over the same period, at the time of writing.
Featured image from Unspkash, Chart from TradingView
Unfortunately, rug pulls have become synonymous with the crypto market as scammers see it as an opportunity to make quick cash. One such rug pulls has hit the Nigerian crypto X (formerly Twitter) community, where what is assumed to be one of the most trusted influencers rug-pulled a project that raised $300,000 in its presale.
The Genesis Of Stimmy Coin (STIMMY)
Surfing through the X (formerly Twitter) posts related to the Stimmy Coin, it looks to be that the coin was created as a parody of the stimulus checks received by United States residents during the COVID-19 lockdowns.
The coin seemed to gain popularity quickly due to the founder being widely known in the Nigerian crypto community. The founder Feyi, whose X (formerly Twitter) account @feyi_x has over 84,000 followers, was able to get widespread popularity for the STIMMY project by organizing social media contests, and the likes.
Interestingly, browsing posts of the founder revealed that he had always been a vocal critic of founders who rug-pulled or scammed investors, which is how he garnered such a loyal following. This following grew as he readied to launch his project.
On the day of the presale, Feyi would go the unconventional route of asking investors to send ETH to a personal wallet address instead of using an established presale platform like Pinksale. From this point onward, the project seems to be doomed.
After raising $300,000 in the presale, tokens were distributed to participants and STIMMY coin was listed on decentralized exchanges, which is where the cracks began to show. At first, there was less than half of the presale funds added to the liquidity pool, which meant participants were in losses right out the gate. Nevertheless, many kept the faith as they believed in Feyi.
The next crack to show was that marketing for the STIMMY coin seemed to be nonexistent despite the founder holding around $150,000 in his personal wallet. The funds were never deployed for marketing and presalers were never once in profit. Not long after, Feyi disappeared from social media and began moving the spoils of his scam to Binance. However, this was not the end.
Feyi And Developer Pull Liquidity Pool For STIMMY Crypto
The STIMMY liquidity pool was initially locked for four months and even this gave investors a pause as it showed the founder of the cryptocurrency may be up to no good. Investors will eventually be proven right in their assumptions when the liquidity was unlocked on Friday, October 27.
Just got information that the $STIMMY LP that was pulled and moved to Kucoin was @DevPanther999 which was Feyi’s dev. He scammed them of the LP ($85,000) and other funds he moved from the project. This isn’t his first scam as he did same to another project too. He is fully doxxed https://t.co/AvgAxZU0gE
As soon as the unlock happened, the $85,000 in ETH left in the liquidity pool was promptly moved out and bounced through multiple wallets in what looks to be a strategy to conceal the funds, and apparently ended up on the KuCoin exchange.
In true X fashion, users began their own investigations and figured out the developer behind the project who reportedly goes by the X handle @DevPanther999. The developer’s LinkedIn page has since been doxxed and is being circulated on social media already. The founder, Feyi, has also been doxxed with his images being circulated on social media by victims of the rug.
By pulling the liquidity, the founder and team behind the STIMMY project have done a complete rug pull, leaving investors who were already sitting in losses holding completely worthless coins that they can no longer sell.
The project comes as a warning of the dangers of investing in untested and unproven crypto founders. Additionally, it is also a big blow to a country (Nigeria) that has struggled to have projects from the region taken seriously on the global stage, further damaging an already fragile reputation.
Predicting the Bitcoin price movements and when altcoin prices will rally again is not a small feat but one analyst has managed to do so. Crypto analyst TonyTheBull has been calling for a bull market, saying that this cycle differs from previous ones in the fact that there will be a rally this year.
This proved to be true last week when the price of Bitcoin started surging and hit as high as $35,100. Now the analyst has called the next altcoin to outperform, and it already is.
Fetch (FET) Is Next Altcoin In Line
In the latest iteration of the CoinChartist (VIP) newsletter, crypto analyst TonyTheBull revealed that Fetch (FET) was his next pick after the Bitcoin breakout. He revealed that he had previously bought FET which ended up outperforming in January, and believes the same will be the case here as well.
FET which is one of the top AI-powered crypto tokens is already on the rise after the analyst called it at the $0.24 level. TonyTheBull also posits that a Raging Bull indicator flipping on would be able to confirm further upside. “Waiting for the Raging Bull to turn on would help confirm increased bullishness in the altcoin,” the newsletter read.
The Raging Bull Indicator, explained the analyst, “was designed using the Relative Strength Index to help indicate when Bitcoin or other assets are in a bull market, and more importantly, and impulsive like trend.” Basically, this indicator helps to show the strength of a cryptocurrency.
Looking at FET’s performance since the call, it has already climbed over 30% and is now trading above $0.3, hitting a local peak of $0.32 on Wednesday.
Despite Bitcoin still looking incredibly bullish on the charts, the analyst points out some altcoins that have had their Raging Bull Indicators turned on this year as well. The first on the list is Solana whose indicator turned on for the first time since 2022. Following this, the digital asset went on a massive run but it might not be done.
TonyTheBull revealed that the last time this indicator was turned on, Solana blew up by 500%, and then continued on to do a 17,000% rally. So if it sticks to historical performance, the Solana rally might only be in its early stages.
The next altcoin to appear on the list is Chainlink’s LINK. LINK moved from around $7 to over $11 in a matter of days. But just like Solana, this coin may only be in its early stages. LINK’s Raging Bull Indicator last turned on in 2019 and the coin saw a “700% in the near term, and more than 9,000% in total.” The analyst further added, “This might not be a setup to sleep on.”
In the past few days, XRP has achieved a significant breakthrough of notable resistance levels, offering a hint of impending substantial price movements.
This development has been closely watched by the cryptocurrency community, who have observed a notable degree of volatility in XRP’s price dynamics in recent times.
The cryptocurrency’s ability to surmount these substantial resistance barriers signals a possible shift in market dynamics and has generated considerable interest among traders and investors.
XRP’s Legal Victory Sets The Stage For A Promising Future
Ripple’s native token, XRP, has emerged as a standout performer in the cryptocurrency space following a significant legal victory against the US Securities and Exchange Commission in mid-July. At that pivotal moment, a federal judge ruled that Ripple’s structured XRP sales did not fall under the classification of investment contracts.
Since this ruling effectively established that XRP’s status as a digital asset was distinct from being deemed a security, it delivered a much-needed boost of confidence to the cryptocurrency and blockchain communities.
It was a watershed moment for Ripple and its digital currency, highlighting the company’s potential for growth inside the industry’s shifting legal structure. The verdict in this case has rekindled hope and set XRP’s future on a promising course.
At the time of writing, XRP was trading at $0.55, up 1.6% in the last 24 hours and registering a decent 13% increase in the last seven days, data from crypto market tracker Coingecko shows.
XRP seven-day price action. Source: Coingecko
In the context of the cryptocurrency market, where trends can change rapidly, the observation that XRP has not only crossed but exceeded both the 200-day and 50-day Exponential Moving Averages carries considerable weight.
EMAs are widely recognized as crucial technical tools, serving as essential guides for traders and analysts to evaluate an asset’s price movement over specific timescales.
XRP market cap currently at $29.414 billion. Chart: TradingView.com
XRP’s Price Action And Key Resistance
When XRP’s price action consistently rises above these key EMAs, it is taken as a bullish sign that the cryptocurrency may be headed for new highs. Given the current climate of the cryptocurrency market, where rising prices tend to coincide with rising confidence and investor interest, this event takes on greater significance.
The altcoin has exhibited a commendable weekly performance, thereby approaching a critical level of $0.56. This particular price point has consistently served as a resistance level since the middle of August.
The Relative Strength Index (RSI) indicates a prolonged bullish trend as it remains above the neutral line at 50.0. This suggests the possibility of a breakthrough at the price level of $0.54, maybe resulting in an upward movement of the XRP price towards $0.60.
Meanwhile, the euphoric feeling surrounding Bitcoin’s ascent to $35,000, which frequently serves as a benchmark for the rest of the crypto market, can be partially ascribed to the present momentum being enjoyed by XRP. Is this the commencement of a larger narrative?
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
The current Bitcoin rally has taken most of the crypto space by surprise after going from under $27,000 to $35,000 in less than two weeks. As prices continue to fly, on-chain data tracker Santiment has revealed something different between the current Bitcoin rally and its previous rallies above $30,000.
Altcoins Refuse To Fall Behind Bitcoin
In the report that was posted on X (formerly Twitter), Santiment revealed that altcoins have changed their usual routine for when the Bitcoin price is surging. For instance, when Bitcoin had rallied to $30,000 in April and July of this year, altcoins had taken a back seat, allowing BTC to enjoy the shine.
This time around, the rally has been just as prominent in altcoins as it has been in Bitcoin, and in some cases, even outshining BTC’s price trajectory. Some of these altcoins that have shown teeth this time include Chainlink’s LINK, Polygon’s MATIC, Aptos’s APT, AAVE, and UIP. All of these altcoins have defied the established trend with their prices surging double-digits in a short time.
Not only are these altcoins seeing a lot of success at a time when Bitcoin would be the only one rallying, but they have also managed to decouple completely from the leading cryptocurrency. According to Santiment, all of the named altcoins “are all seeing their best performing decouplings of 2023.”
Meme Coins Show Their Prowess
As the crypto market rally has progressed through some of its most bullish stages, other altcoins such as meme coins have begun to also show a lot of promise. The usual culprits such as PEPE saw double-digit gains as well, with ELON rallying up to 57%. Additionally, $BITCOIN also saw a $36 rise in one week.
PEPE has continued to surge as well and is up 34.55% in the last day, bringing its weekly gains to 51.49%. The meme coin’s run has seen it emerge as a top gainer, also trending alongside the likes of Bitcoin (BTC) and Chainlink (LINK).
Another altcoin that stands out is Troller’s TRB. The coin rose around 750% in a 3-month period to emerge as one of the winners of the rallies. It also saw large transactions from unique whale addresses, suggesting a very high level of interest in the altcoin from investors.
In all, this rally is completely different from the previous rallies recorded this year in that the whole market seems to be pulling up together. This is interesting because rallies like these are usually seen in bull markets, with 2021 serving as a perfect example.
Crypto analyst Alan Santana has been continuously bullish on the XRP price and has previously predicted a breakout for the digital asset. With the rise in the crypto market over the last day, the analyst’s prediction of a surge has come to pass. Now, in an update, Santana reveals what is next for the beloved altcoin.
Predicting The XRP Price Rally
Santana first took to TradingView to share his analysis of the XRP price performance on October 13. This initial post had been made when the price of the digital asset was still trading at just $0.48, and way before the United States Securities and Exchange Commission (SEC) dropped its lawsuit against Ripple’s co-founders.
In this initial post, Santana had referred to the XRP price at the time as “great timing” for an entry and he turned out to be right. The next update from the crypto analyst was on October 16 where he said that the digital asset still had very high growth potential.
Then on October 20, after the SEC dropped its charges against the Ripple execs, Santana said that the victory “opens the doors for a 150% rally.” Now, while the XRP price is yet to hit this 150% target, it has already risen 114% from the time of the first post when XRP was trading at $0.48.
In the latest updates of the analysis, Santana explains that “XRP is showing zero signs of weakness.” As the analyst puts it, every single XRP signal across all timeframes has been waxing stronger amid the crypto market resurgence.
The analyst expects a continuation of the bullish momentum with further upside to come. Sticking to the expected 150% rally, the XRP price could run up to $0.6 before running out of steam or hitting major resistance along the way.
“Just as the chart succeeded in predicting a Ripple win and major XRP rally before the event actually took place… The chart is once more saying, ‘forget the doubters, a higher high comes next!’” Santana’s TradingView post reads.
As the analyst predicted, XRP is still showing a lot of strength in the market after crossing the $0.55 mark. Its price is up 4.98% in the last day alone. Its 11.45% weekly surge has brought its market cap above $29.4 billion, while its daily trading volume shows a 200% increase, according to data from CoinMarketCap.
Anybits, a new altcoin exchange that provides an online tool for users to freely trade between a number of different virtual cryptocurrencies, has launched its service to the public
Press Release –
updated: Nov 5, 2017
DUBLIN, November 5, 2017 (Newswire.com)
– Anybits, a new altcoin exchange that provides an online tool for users to freely trade between a number of different virtual cryptocurrencies, has launched its service to the public.
Proudly introduced at Blockchain & Bitcoin conference in Kiev, Ukraine earlier in October, Ireland-based Anybits is an exchange platform for the most popular cryptocurrencies and digital funds such as Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum, and many more.
Powered and managed by established and reputable crypto-to-fiat exchange, Bitsane.com, Anybits is the fastest-growing, real-time altcoin trading platform with a constantly growing list of supported crypto assets.
Anybits has been designed for optimal accessibility, ease-of-use, and compatibility across all mobile devices for trading whenever and wherever. Deposits and withdrawal on the platform are instantaneous; transactions are lightning fast and users’ registrations are intuitive and simple.
Users on the platform can enroll in a generous affiliate program that offers them up to 50% referral commission. They will also be provided with margin trading and portfolio diversifying investment options when the platform fully launches.
In order to properly secure users’ funds, Anybits uses cold storage to protect funds and transactions. Users can also set up additional security measures for their accounts.
Anybits’ extensive suite of comprehensive APIs allows developers to seamlessly develop and integrate their own cryptocurrency trading platforms.
For a limited time only, Anybits offers FREE trading with no transaction fees till the end of 2017. To take advantage of this offer, use the following promotion code at the time of registration: H9F27D1V
Disclaimer: ANYBITS is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. ROI cannot be guaranteed. Readers are urged to make investment decisions at their own discretion and the company will not be responsible for the outcome of such decisions. This press release may contain certain forward-looking statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations they are based on will occur.
Bitcoin IRA is the only company offering cryptocurrency-based retirement investment portfolios with Bitcoin and Ethereum.
Press Release –
updated: Jun 28, 2017
Los Angeles, USA, June 28, 2017 (Newswire.com)
– BitcoinIRA.com, the only company offering cryptocurrency-based retirement investment portfolios, has negotiated first-of-its-kind agreements with leading retirement and cryptocurrency companies to allow customers to invest in Bitcoin or Ethereum with their IRAs and 401ks.
Bitcoin IRA’s accomplishments with leading retirement custodian Kingdom Trust and leading cryptocurrency wallet BitGo™, represent a first for the industry. Together, this partnership creates a secured multi-signature encryption wallet from BitGo™ that enables Kingdom Trust to provide custodial services with a self-directed IRA.
The COO of Bitcoin IRA, Chris Kline, said,
“These are unique set-ups that no other retirement custodian is able to replicate. Our partnership with BitGo and our custom configuration with other partners provides a secure, one-of-a-kind investment opportunity for individuals that can’t be replicated in the marketplace.”
Bitcoin IRA has been featured in leading publications including the Wall Street Journal, QZ.com, Barron’s, Investopedia and popular Bitcoin publishers CoinDesk.com and CoinTelegraph.com.
In one of the articles, Drew Pierson from CoinDesk wrote,
“Cryptocurrency IRAs are no different than IRAs invested in more traditional options like stocks and bonds. The firm Bitcoin IRA is the only option for investors who wish to hold cryptocurrencies in their IRAs directly.”
Recently, Bitcoin IRA also launched Ethereum IRA, a similar investment product for Ethereum, the second-largest cryptocurrency. The company has been evaluating releasing new cryptocurrencies on its proprietary SDIRA platform, along with new features being driven by demand from existing stakeholders and clients.
About Bitcoin IRA
Bitcoin IRA is the only Bitcoin-based retirement investment portfolio that allows people to invest with actual bitcoins for their IRA or 401(k). The platform works with leading fintech professionals to provide secure, high-quality Bitcoin investments.
Bitcoin IRA offers both traditional and Roth IRA options, which offer the same tax incentives as regular IRAs and 401(k)s. The company differentiates itself from other bitcoin investment products in multiple ways. Unlike Bitcoin ETFs and investment funds, Bitcoin IRA offers an opportunity for individuals to invest in real bitcoin at a much lower fee. In addition, investors keep total control over their Bitcoin deposits, with no holding fees and the ability to withdraw once the term is over.
Contact Name: Kristy Velazquez Contact Email:kristy@bitcoinira.com Location: Los Angeles, USA Phone: +1.877.936.7175
Bitcoin IRA is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.
LOS ANGELES, Calif., May 31, 2017 (Newswire.com)
– Ethereum is $200, and Bitcoin is over $2,300. Both of these digital currencies started small, offering investors a chance at millions for less than $1.
In just 32 days since the launch of Ethereum IRA, the digital currency also known as Ether rose in value from $48 to its current price of $202, delivering investors a whopping 314% return. Ethereum has piqued the interest of Fortune 500 companies and is considered by many investors and traders to be the hottest altcoin on the market right now.
“Our clients are ahead of the curve; they are early adopters eyeing a massive opportunity as Ethereum and others become the digitization of efficiency in our common lives,” saidChris Kline, COO of Bitcoin IRA.
The weekend rise in Ethereum price may have moved lock in step with key partnerships and developments announced over the weekend. Below are the most common reasons that investors cite to justify a $1,000 Ethereum coin:
The People’s Republic of China wakes up to Ethereum
China’s leading bitcoin and altcoin exchange, Huobi, announced it would offer Ethereum on Wednesday, May 31st, 2017. Huobi is one of the largest exchange players in China, if not the world. If history is any guide, one just needs to look back to when Litecoin started trading on Coinbase; almost immediately, its value skyrocketed.
Ethereum and the Trillion-Dollar Freelancer market
eDEV.one, a remote worker wage payment, and job platform announced its plans to issue a part of its token sale on Danish exchange OpenLedger. Freelancers now makeup 35% of U.S. workers and collectively earned $1 trillion in the past year, according to the Freelancers Union, based in New York City, and the large freelancing platform Upwork, headquartered in Silicon Valley.
Toyota and MIT Partner to accelerate self-driving vehicles
Toyota Motor company has announced a tie-up with MIT to utilize blockchain and distributed ledger technology to speed up the development of autonomous driving technology.
Storj Labs raises millions to disrupt Dropbox
The leading decentralized cloud storage provider has concluded a token sale for its Ethereum-based application token. The platform met its goal of $30 million in just seven days.
The fact that Ethereum continues to be adopted by mainstream exchanges, companies, and initiatives signifies its long-term value.
In Bitcoin IRA’s first year since launch, the company’s innovative retirement platform was featured in the Wall Street Journal, Barron’s and Investopedia for making Bitcoin an easy option for retirement investing. It has also expanded its cryptocurrency offering by adding a secure way to invest in Ethereum as well as Bitcoin.
About Bitcoin IRA
Bitcoin IRA is the only Bitcoin-based retirement investment portfolio that allows people to invest with actual Bitcoins and Ethereum for their IRA or 401(k). The platform works with leading fintech professionals to provide secure, high-quality Bitcoin investments.
Bitcoin IRA offers both traditional and Roth IRA options, which offer the same tax incentives as regular IRAs and 401(k)s. The company differentiates itself from other Bitcoin and Ethereum investment products in multiple ways. Unlike Bitcoin and Ethereum ETFs and investment funds, Bitcoin IRA offers an opportunity for individuals to invest in real Bitcoin or Ethereum at a much lower fee. Also, investors keep total control over their digital wallets, with no holding costs and the ability to withdraw once the term is over.
Contact Name: Amith Nirgunarthy Contact Email:amith@bitcoinira.com Location: Los Angeles, USA Phone: +1.877.936.7175
Bitcoin IRA is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.
Bitcoin IRA superior fund returns along with 100% customer satisfaction in their self-directed cryptocurrency-based retirement accounts
Press Release –
updated: May 9, 2017
Los Angeles, Calif., May 9, 2017 (Newswire.com)
– BitcoinIRA.com, the only company offering cryptocurrency-based retirement investment portfolios, has announced its one-year anniversary today. In the first year since launch, the company’s innovative retirement platform has been featured in the Wall Street Journal, Barron’s and Investopedia for making Bitcoin an easy option for retirement investing. It has also expanded its cryptocurrency offering by adding a secure way to invest in Ethereum as well as Bitcoin.
Bitcoin IRA is the first and only company to offer cryptocurrency-based IRAs for investors, allowing them to hold actual cryptocurrencies in a retirement account. Unlike traditional ETFs and investment plans, investors in Bitcoin IRA and Ethereum IRA continue to own their cryptocurrency even after the end of the IRA tenure, allowing them to freely distribute it.
Combining its innovative product with a strong bitcoin price trend and excellent customer support, Bitcoin IRA has achieved an extremely high client satisfaction rating, receiving an average of 5 out of 5 stars on review platform Birdeye.
“We’re extremely proud of what we’ve accomplished with Bitcoin IRA,” says Chris Kline, COO. “Our commitment to listening to our clients has helped us grow month after month, and continually offer new, innovative ways for investors to save for retirement.”
Recently, the team behind Bitcoin IRA also launched Ethereum IRA, a similar investment product for Ethereum, the second-largest cryptocurrency. The company has been evaluating releasing new cryptocurrencies on its proprietary SDIRA platform, along with new features being driven by demand from existing stakeholders and clients.
Chris Kline continues:
“We’ve only scratched the surface of cryptocurrency and blockchain technology in the retirement space. Projects currently under development are driven by our clients and designed to drive mainstream crypto adoption ahead.”
About Bitcoin IRA
Bitcoin IRA is the only Bitcoin-based retirement investment portfolio that allows people to invest with actual bitcoins for their IRA or 401(k). The platform works with leading fintech professionals to provide secure, high-quality Bitcoin investments.
Bitcoin IRA offers both traditional and Roth IRA options, which offer the same tax incentives as regular IRAs and 401(k)s. The company differentiates itself from other bitcoin investment products in multiple ways. Unlike bitcoin ETFs and investment funds, Bitcoin IRA offers an opportunity for individuals to invest in real bitcoin at a much lower fee. In addition, investors keep total control over their Bitcoin deposits, with no holding fees and the ability to withdraw once the term is over.
Contact Name: Amith Nirgunarthy Contact Email: amith@bitcoinira.com Location: Los Angeles, USA Phone: +1.877.936.7175
Bitcoin IRA is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.
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