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Tag: altcoins

  • ADA: Signs Point To Cardano Rally Ahead

    ADA: Signs Point To Cardano Rally Ahead

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    FOR UPDATE…

    Cardano (ADA) has been making significant strides in the cryptocurrency market, reclaiming its position at the forefront of the altcoin buzz. The digital currency’s price rally has propelled it to a multi-month high, signaling a collective effort from both retail and whale investors. 

    At the time of writing, Cardano’s trading volume stands at an impressive $380,929, reflecting a remarkable 24.8% increase overnight. This surge in trading activity serves as a testament to the robust health of the Cardano market, underlining the active participation of all ecosystem stakeholders.

    Cardano: Rallying To New Heights

    The current price of ADA, as reported by CoinGecko, stands at $0.363147, with a 4.6% gain over the past 24 hours and a notable 19.4% surge over the past week. This bullish momentum has been a welcome development for Cardano enthusiasts. 

    Crossing the crucial resistance level at $0.37 is a remarkable milestone for the protocol, as the last time ADA tested this level was in early June. This achievement signifies the growing investor confidence in the project and its potential to reach new heights.

    ADA market cap currently at $12.257 billion. Chart: TradingView.com

    Fostering A Thriving Ecosystem

    While the price action of Cardano is undeniably positive, its success is further underscored by its expanding ecosystem. The crypto protocol has launched a series of products throughout the year, and their impact is becoming increasingly evident.

    Notably, one of the latest innovations, Midnight Protocol, is poised to play a pivotal role as a privacy tool, solidifying Cardano’s position within the Web3 space.

    Midnight Protocol, one of the most recent additions to Cardano’s ecosystem, is set to address privacy concerns that have become increasingly prominent in the world of blockchain and cryptocurrencies.

    With the rise of Web3 systems, privacy has become a paramount consideration, and Midnight Protocol aims to provide a solution. This innovative tool will enable users to interact with blockchain networks while preserving their data and transaction privacy. 

    By offering enhanced privacy features, Midnight Protocol is positioned to contribute to the broader adoption of Cardano within the decentralized web.

    Cardano’s recent price surge to a multi-month high serves as a testament to the platform’s growing popularity and support from both retail and institutional investors.

    The crossing of the $0.37 resistance level marks a significant achievement, and Cardano’s flourishing ecosystem, with the introduction of products like Midnight Protocol, adds even more value to the project. 

    As Cardano continues to evolve and expand, it remains a cryptocurrency to watch in the ever-changing landscape of blockchain technology and decentralized systems.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Shutterstock

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    Christian Encila

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  • XRP Hits Critical Level – Should Traders Brace For Impact?

    XRP Hits Critical Level – Should Traders Brace For Impact?

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    XRP, the popular cryptocurrency, has been making significant strides in recent trading hours. Investors and traders have witnessed remarkable gains, with the hourly chart indicating a bullish trend despite a sharp rise. As the price of XRP hovers around $0.696533, CoinGecko reports an impressive 8.9% increase in the past 24 hours, marking a seven-day rally of 24.4%.

    Bulls are flexing their muscles on the daily time frame, underlining the cryptocurrency’s resilience and potential for further upward movement. An analysis of XRP’s price action reveals several compelling factors that suggest a bright outlook for this digital asset.

    Sustained Momentum Above Key Moving Averages

    XRP’s current price of $0.696533 is not merely a fleeting spike. It is notably trading above the 50-day and 200-day exponential moving averages (EMAs), a strong indicator of bullish sentiment. When a cryptocurrency maintains a position above these key EMAs, it typically signifies a solid foundation for a prolonged uptrend.

    The potential for a bullish cross between the 50-day and 200-day EMAs adds weight to the argument for sustained growth. This technical configuration implies that XRP may continue to climb, potentially attracting even more investors looking to capitalize on the positive price action.

    XRP market cap currently at $37.546 billion on the daily chart: TradingView.com

    RSI Confirms Strong Buyer Sentiment

    In addition to the moving averages, the Relative Strength Index (RSI) for XRP is comfortably above the 50 mark. The RSI is a momentum oscillator that measures the speed and change of price movements. When it crosses the 50 threshold, it indicates a shift towards bullish sentiment.

    With the RSI clearly in the bullish territory, it further solidifies the notion that buyers are firmly in control of XRP’s price trajectory. This heightened level of buyer confidence is a crucial driver for the cryptocurrency’s ongoing price appreciation.

    Critical Resistance Point

    While XRP’s recent performance is undeniably impressive, traders and investors should exercise caution and closely monitor the daily bar closure, particularly in relation to the resistance level at $0.6541. This price point serves as a critical juncture that could influence the direction of XRP’s price movement.

    Breaking through this resistance could propel XRP to even greater heights, possibly establishing new support levels at higher values. Conversely, failing to surpass this obstacle may lead to a temporary setback. Therefore, staying vigilant and responsive to the market’s dynamics is paramount for those considering XRP investments.

    Source: Santiment

    XRP Whale Appetite Increasing

    Meanwhile, there has recently been a notable increase in the acquisition of XRP by prominent cryptocurrency investors, referred to as “crypto whales.”

    This surge in purchasing activity has contributed to a highly dynamic commencement of the month of November this year. The XRP price surge has been significantly influenced by bullish trading activity observed within a cohort of strategic crypto whales, as indicated by recent on-chain data.

    Whales, who possess between 100,000 and 1 billion XRP, accumulated an extra 1.26 billion XRP between October 24 and November 6, setting a new record for their total holdings in 2023. The chart above illustrates how the price of XRP began to rise positively around October 24, which is when these wealthy investors started making large purchases of the cryptocurrency.

    At $0.68 per XRP, the 1.26 billion XRP obtained are worth $850 million. XRP price rose over the important resistance zone at $0.65 after this significant investment in two weeks.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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    Christian Encila

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  • RUNE Rally Hits Barrier: THORChain Price Nears Resistance

    RUNE Rally Hits Barrier: THORChain Price Nears Resistance

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    THORChain’s price has been up by over 100% since the last week of October, hitting levels not seen since May 2022. This is an amazing increment in price. But caution is advised since RUNE, an altcoin, seems overbought, possibly signaling a 20% drop in the near future.

    At the time of writing, RUNE was trading at $3.42, climbing over 15% in the last 24 hours, and registering an impressive 37% rally in the last seven days, figures by CoinMarketCap shows.

    RUNE: Potential To Reverse Bearish Trajectory

    If RUNE closes above the psychological $3.500 mark, it could negate the present downturn and cause the bearish attitude to change. The significance of RUNE closing above the critical $3.500 mark lies in its potential to reverse the prevailing bearish trend and trigger a shift in market sentiment.

    Achieving this milestone could signify a break in the current downtrend, potentially instigating a more positive outlook among investors and traders.

    Source: CoinMarketCap

    THORChain underwent a notable phase of consolidation, a period marked by relatively stable prices and limited fluctuations. Following this consolidation, the market witnessed a substantial surge, propelling THORChain’s price upwards by over 40%.

    However, in the aftermath of this surge, the price has demonstrated a consistent stability, remaining within a relatively similar range. This stability has coincided with a broader downturn in market dynamics, where fluctuations and overall activity have shown a decrease across the market.

    Despite the prior surge, THORChain’s price has maintained a consistent level, reflecting a degree of resilience amid the current market trends.

    RUNE market cap currently at $1.16 billion on the weekend chart: TradingView.com

    The RUNE token holds a substantial long-term liquidation value surpassing $70 million, signifying a considerable reserve or potential value inherent in the token’s existence. However, a cautionary note emerges from the chart analysis, which reveals a prominent positive deviation highlighted in green.

    This deviation might signify an impending decrease in price in the near future, suggesting a potential shift or correction in the market valuation of the token. This could prompt investors to stay vigilant and consider potential fluctuations in the token’s value in their future investment decisions.

    The price of RUNE garnered significant attention subsequent to a substantial market surge, as the cryptocurrency experienced a portfolio increase of more than 40% inside that period.

    Signs Of Market Correction For RUNE?

    Analyzing the technical indicators, THORChain reveals an RSI figure of 72.24, typically signaling overbought conditions when surpassing 70. This situation hints at the possibility of profit-taking or a slight downturn in the coming days.

    Despite indicating a robust bullish sentiment with an RSI above 50, THORChain might be treading into overextended territory, potentially requiring cautious observation for signs of a market correction or adjustment.

    Source: Santiment

    Meanwhile, according to Santiment’s research, there is a decline in the social dominance of the RUNE cryptocurrency, which means there is less of a presence and conversation on social media. When conversations do happen, they usually center on the altcoin’s remarkable rise, which may allude to investor anticipation of an upcoming fall.

    In line with this reality is the rising open interest, which is the sum of all long and short positions in the market. After such a meteoric increase of 120%, short sellers should outnumber long sellers for RUNE among traders.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Frank Cone/Pexels

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    Yuna Rin

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  • XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November?

    XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November?

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    XRP, the native cryptocurrency of the Ripple network, reached a significant milestone as it soared to the crucial psychological level of $0.60, marking its highest value since the mid-August market crash. 

    In financial terms, psychological levels are key price points where traders and investors have historically shown heightened interest, often leading to increased buying or selling pressure.

    Crossing this mark after a prolonged period of market volatility signals a potential shift in sentiment for XRP enthusiasts, who have eagerly awaited a resurgence in the coin’s value.

    Related Reading: Solana Bull Run Could Smash Through $40 Barrier This Week – Here’s How

    XRP’s Remarkable Rebound

    According to the latest data from CoinGecko, XRP was trading at $0.606379, reflecting a notable 2.7% gain over the past 24 hours. Over the course of the week, the digital asset witnessed an impressive seven-day rally of 9.2%, solidifying its upward trajectory and instilling confidence in the cryptocurrency market.

    This upward momentum, while significant in itself, has also sparked a flurry of activity among XRP whales, who have long been regarded as influential players capable of shaping the market’s direction.

    Recent data from the crypto analytics platform Whale Alert shed light on a substantial transaction involving a major XRP whale. The data revealed that an anonymous entity had transferred a staggering 412,890,441 XRP tokens, valued at approximately $248,922,341, from one wallet to another. Such large-scale movements by influential holders can often trigger a domino effect, leading to increased interest from smaller investors and, in turn, contributing to further price fluctuations.

    Key Milestones And Challenges For XRP

    In parallel to these developments, Ripple, the company behind XRP, published its comprehensive market report for the third quarter, highlighting several key achievements of the cryptocurrency during the period. Notably, the report indicated a significant uptick in the number of new wallets, recording a remarkable surge of nearly 12% to reach a total of 157,936. 

    Moreover, the document emphasized the robustness of the XRP trading volume, consistently surpassing the $1 million mark throughout July and August, with certain days witnessing an impressive trading volume range of $20 million to $30 million.

    However, amidst these positive indicators, the report also pointed to a slight downturn in the overall transaction count, registering a decrease of over 8% compared to the previous quarter. This decline, while not entirely alarming, underscores the need for continued market analysis and strategic measures to maintain a steady growth trajectory for XRP.

    As Ripple and its native coin XRP continue to make significant strides, market observers remain vigilant, analyzing various factors that could impact the cryptocurrency’s trajectory in the coming months.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Freepik

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    Christian Encila

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  • Cardano Experiences Decline In Q3 Activity – The Root Cause

    Cardano Experiences Decline In Q3 Activity – The Root Cause

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    Cardano, one of the prominent blockchain networks, experienced a mixed bag of performance during the third quarter of the year, leaving investors and enthusiasts intrigued about its future trajectory. While certain metrics presented a less-than-stellar picture, there are emerging indicators that suggest the potential for a positive turnaround. 

    In this article, we look into Cardano’s Q3 performance, examining stagnant metrics, the impact they have had, and the potential price direction that could shape its future.

    The Impact Of Stagnant Metrics

    In the realm of cryptocurrencies, metrics play a crucial role in determining the health and vitality of a blockchain network. Cardano’s performance in Q3, as shown in Messari’s analysis, revealed some concerning trends, albeit not entirely bleak. The average transaction fee on the Cardano network, denominated in US dollars, saw a 29.9% decrease, dropping from $0.13 to $0.10, suggesting a reduction in the cost of network usage.

    Source: Messari

    One of the more significant concerns was the decline in daily active addresses. Between July and September, the average count of daily active addresses plummeted by 29%, from the 58,000 recorded during the year’s second quarter to 41,137. This decline raises questions about the network’s ability to maintain user engagement and activity levels.

    Fees denominated in Cardano’s native token, ADA, also fell by 3% quarter-over-quarter (QoQ), indicating that users may have been transacting with smaller amounts of ADA due to lower fees. Furthermore, the network’s revenue took a hit, falling by a substantial 30%, which could raise concerns about its overall financial stability.

    ADA market cap currently at $10.161 billion on the daily chart: TradingView.com

    Cardano’s Chart Signals Optimism

    Amidst the stagnant metrics and challenges faced in Q3, Cardano’s chart on TradingView paints a different narrative, hinting at the potential for an upward momentum. The Relative Strength Index (RSI) for Cardano is on an upward trajectory, approaching the overbought territory. While this might typically be seen as a signal for a potential pullback, it should be considered in the context of Cardano’s recent price performance and external factors.

    The moving averages on the chart provide further cause for optimism. After a period of sideways movement, the price appears to be making an effort to break above the long-term resistance trendline. This, combined with the formation of higher lows on the chart, creates a potentially bullish scenario, suggesting that Cardano may be gearing up for a significant price move.

    Source: Messari

    Potential Price Direction

    As of the most recent data from CoinGecko, Cardano (ADA) is trading at $0.290817. In the last 24 hours, the price experienced a dip of 3.8%, while over the past seven days, it saw a 2.8% rise. These short-term price movements indicate a level of volatility and uncertainty in the market.

    Cardano’s performance in Q3 had its fair share of challenges, with stagnant metrics and declining user engagement. However, the positive signals on the trading chart and the potential for an upward momentum suggest that Cardano may be poised for a price breakout. 

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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    Christian Encila

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  • Ethereum DeFi Activities Rise: Will It Drive A Bullish Price Surge?

    Ethereum DeFi Activities Rise: Will It Drive A Bullish Price Surge?

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    Ethereum, often hailed as the pioneer of smart contracts, has cemented its position as the frontrunner in the world of decentralized finance (DeFi) and blockchain technology.

    Recent data reveals that Ethereum was the primary catalyst behind the surge in crypto Total Value Locked (TVL), amassing an impressive 75% of all deposited funds during the past week.

    Ethereum’s journey began with the groundbreaking innovation of smart contracts. It was the first protocol to introduce this game-changing technology, enabling the creation of self-executing contracts with predefined rules and conditions.

    This innovation laid the foundation for the entire DeFi ecosystem, as it provided the framework for decentralized applications and automated transactions.

    One of the most compelling indicators of Ethereum’s continued dominance is the recent surge in decentralized exchange (DEX) volumes.

    In the past week, Ethereum recorded a historic milestone, with over $9 billion in transactions settled on its network. This marks the highest weekly volume since mid-June and underscores the platform’s pivotal role in facilitating peer-to-peer trading and liquidity provision.

    ETH Price Dynamics And The BlackRock Factor

    As Ethereum continues to take center stage in the crypto landscape, the question on many investors’ minds is how this data will impact the price of ETH. Currently, according to CoinGecko, Ethereum is trading at $1,798, showing a modest 0.6% increase in the last 24 hours, with a minor 0.9% decrease over the past seven days.

    Venture capitalist Arthur Cheong has provided intriguing insights into the potential price trajectory of Ethereum. Cheong, the founder of DeFiance Capital, suggests that ETH could experience a significant rally if a specific scenario unfolds.

    He points to BlackRock, a financial giant, and its application for a spot Bitcoin (BTC) exchange-traded fund (ETF). If BlackRock’s BTC ETF application is successful, it could pave the way for a similar Ethereum ETF application in the future.

    “ETH is probably the best six to 12 month long among large-cap assets now when BlackRock applies for a spot ETH ETF six to 12 months down the road,” Cheong wrote on the social media platform X. 

    ETHUSD currently trading at $1798.3 on the daily chart: TradingView.com

    Implications And Future Prospects

    The significance of Ethereum’s role in DeFi and blockchain technology cannot be overstated. Its smart contract functionality revolutionized the crypto space and enabled the birth of countless decentralized applications and platforms. The recent surge in DEX volumes underscores its pivotal role in facilitating crypto trading.

    As the crypto world closely watches developments surrounding BlackRock’s potential ETFs, Ethereum’s future appears promising. Should a BTC spot ETF materialize and pave the way for an Ethereum ETF, institutional investors may flock to Ethereum for its ESG attributes and staking yield opportunities.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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    Christian Encila

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  • Pepe Conquers The Weekend Charts With 61% Rally – Here’s Why

    Pepe Conquers The Weekend Charts With 61% Rally – Here’s Why

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    Amidst the crypto market’s recent surge propelled by rumors of the Bitcoin Spot ETF approval, PEPE, a noteworthy altcoin, made a strong move by announcing the burning of over $5.5 million worth of its PEPE tokens.

    This smart decision resulted in a remarkable 30% surge within just 24 hours, propelling the value of PEPE to a two-month high. The surge in the crypto market triggered by the potential Bitcoin Spot ETF approval provided the perfect backdrop for PEPE’s strategic action, marking a significant upward shift in its value and indicating a resurgence in the altcoin space.

    PEPE’s Impressive Market Performance

    Recent data from crypto market tracker Coingecko highlights the impressive market performance of Pepe Coin. In the past week, the price of the meme coin has demonstrated an outstanding 61% surge, currently resting at $0.000001207, which marked a 0.84% gain at the time of this writing.

    This sustained upward trajectory not only underscores the coin’s resilience but also positions it as a significant player in the volatile crypto market, showcasing remarkable growth over a short period.

    Anticipations in the market for Pepe Coin suggest an imminent test of buyers’ resolve around the support level. Observers foresee a scenario where a substantial influx of aggressive purchases during a price dip could trigger a strong rebound for the Pepe coin.

    If this support indeed materializes, the coin is poised to potentially surge beyond the $0.0000019 mark. This projection not only signifies an opportunity for market momentum but also points to a critical juncture that could shape the near-future trajectory of Pepe’s value.

    The fervor surrounding Pepe, the memecoin sensation, intensified as the cryptocurrency surged an impressive 38% following the much-anticipated release of its latest updates. Notably, Pepe Coin unveiled a fresh team of advisors, marking a pivotal strategic move aimed at shaping the coin’s future trajectory.

    Total crypto market cap currently at $1.2 trillion. Chart: TradingView.com

    Amidst a week of substantial fluctuations in the crypto market, the spotlight fell on meme coins, with PEPE coin making a prominent appearance by almost doubling its value, reaching a market cap of $500.

    The Growing Appeal Of Meme Coins

    The success of PEPE coin signifies the growing influence and appeal of meme-based cryptocurrencies, which often rely heavily on online communities and social media engagement. The enthusiasm surrounding these coins is fueled by a combination of factors, including social trends, speculative trading, and the potential for quick, albeit risky, returns on investment.

    However, it’s important to note that the extreme volatility and speculative nature of meme coins can lead to unpredictable price swings and potential risks for investors.

    Elon Musk’s recent announcement regarding the incorporation of various payment methods into his platform, X, has sparked considerable interest and activity within the market. As the excitement surrounding the Bitcoin Spot ETF gradually subsided, the attention of the crypto market shifted towards meme coins.

    Specifically, the PEPE team’s decision to burn roughly 7 trillion tokens emerged as a key driver in the recent growth pattern. This strategic move significantly reduced the coin’s supply, potentially contributing to the increase in its value.

    These collective events underscore the dynamic nature of the cryptocurrency landscape, where strategic decisions and external endorsements wield substantial influence over market sentiment and value fluctuations.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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    Yuna Rin

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  • X Plans To Launch Payments Service In 2024, What’s In It For Dogecoin?

    X Plans To Launch Payments Service In 2024, What’s In It For Dogecoin?

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    The world’s richest man, Elon Musk, once again discussed his plans to turn X (formerly Twitter) into a complete financial platform, with him setting a timeline of the end of 2024 to accomplish that goal. This has led many in the crypto community, specifically the DOGE community, to speculate about what this move could mean for the foremost meme coin, Dogecoin.

    Will Dogecoin Be Implemented In X’s Financial Structure? 

    So far, Musk hasn’t stated if there is any plan to incorporate cryptocurrencies into X’s payment service and, most especially, Dogecoin. However, with the X owner’s fondness and alleged investment in the token’s ecosystem, there is the possibility that this could happen once the platform’s payment service launches at the end of next year. 

    Moreso, Musk’s plans to make X a financial hub coincides with plans he had discussed with his brother concerning Dogecoin, as revealed in his autobiography. Musk’s brother had mentioned the possibility of creating a blockchain-based social media platform that would integrate a payment system that allows people to make payments using DOGE.

    Musk seemed to buy into the idea as he got back to his brother with the idea of creating “a blockchain social system that does both payments and short messages like Twitter.” The decentralized nature of a token like DOGE might also be appealing to Musk, considering that he has always been an advocate of free speech, and this could also translate to creating a free market with the help of such crypto tokens. 

    A Central Financial Hub Without Cryptocurrencies Is Incomplete

    Musk also seems hell-bent on making the X platform the go-to financial platform for everyone, as during the latest all-hands call with employees on October 26, he mentioned that he wants X to be at the center of everyone’s financial life as the platform will embody everything that involves money. 

    Total crypto market cap currently at $1.2 trillion. Chart: TradingView.com

    Going by such a statement, integrating a token like DOGE seems to be a matter of when and not if, considering that cryptocurrencies are largely considered the future of money. However, it also remains to be seen if the meme coin will be the only one integrated into the platform if the adoption of cryptocurrencies on the platform eventually happens. 

    Meanwhile, the possible adoption of DOGE as the go-to crypto token on the X platform is strengthened by the fact that Musk once mentioned that the platform doesn’t plan on ever creating its token. As such, it doesn’t seem farfetched that the meme coin will be Musk’s first choice once talks about cryptocurrencies on X begin to materialize. 

    The DOGE community seems to be already hyped about the possibility of this happening, as a particular X user noted that the “utilities will be endless” if Dogecoin becomes the preferred “crypto of choice on this platform.” 

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    Scott Matherson

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  • Aptos Hits Record TVL High – Will APT Evade A Market Retraction?

    Aptos Hits Record TVL High – Will APT Evade A Market Retraction?

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    Since the second week of October, there was a noticeable surge in demand for Aptos’ native cryptocurrency APT. This increased interest led to a robust phase of Total Value Locked (TVL) growth.

    Ultimately, this surge in demand for APT resulted in Aptos achieving its highest-ever TVL value of $74 million during the trading session on Thursday, October 26th.

    This surge in TVL is a crucial metric for decentralized finance (DeFi) platforms, showcasing the total value of assets, tokens, or cryptocurrencies locked within the platform’s smart contracts.

    Aptos TVL. Source: DefiLlama

    Aptos Surges Amidst Rising Investor Confidence

    The increase in demand for Aptos’ native cryptocurrency, APT, further demonstrates growing investor confidence and interest in the platform’s utility, potentially indicating an expanded user base or enhanced use case scenarios within the Aptos ecosystem.

    At the time of writing, APT was trading at $6.69, up 4.5% in the last 24 hours, and etching a notable 31.5% increase in the last seven days, according to figures by crypto market tracker Coingecko.

    Source: Coingecko

    This rally can be partially due to Aptos’ distinct position as a proof-of-stake blockchain that uses a cutting-edge smart contract programming language, to facilitate quicker and less expensive transactions on its network.

    For this reason, a lot of cryptocurrency fans frequently associate Aptos with certain decentralized Web3 applications, with a focus on the domain of non-fungible tokens (NFTs).

    AptosOne recently launched Graffio, an NFT-based art display platform. This tool simplifies NFT art creation, with standout features including waived gas fees for social media logins and the creation of an exclusive Graffio wallet.

    APTUSDT currently trading at $6.80 billion on the daily chart: TradingView.com

    APT Price On Bullish Run With 24% Gain 

    The announcement led to a surge in Aptos (APT) price from $4.88 to $6.03 between October 20 and 23, a nearly 24% increase, prompting experts to predict a bullish trend continuing to $7.20 around end of next month.

    Its current value of $6.69 reflects a notable climb of 36% since mid-October, demonstrating a robust upward trend. The increase in price underscores the promising prospects for the future of Aptos and its indigenous digital currency, APT.

    APT seven-day price action. Source: Coingecko

    As Aptos achieves its all-time high in Total Value Locked (TVL), the soaring trajectory of APT’s price and the platform’s advancements in NFT technology have sparked significant optimism.

    The recent market surge and robust momentum hint at the potential for sustained growth and increased interest in APT. Despite concerns looming over a possible market retraction, the record-breaking TVL and the remarkable rise in APT’s value prompt a hopeful outlook, suggesting that Aptos and its native token may be well-positioned to weather potential market fluctuations and maintain their upward trajectory in the near future.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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    Christian Encila

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  • Bitcoin: On-Chain Tracker Points Out Interesting Difference Between Current And Past Rallies

    Bitcoin: On-Chain Tracker Points Out Interesting Difference Between Current And Past Rallies

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    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.

    Source: Santiment on X

    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.

    Meme coins Bitcoin

    Source: Santiment on X

    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.

    Trellor TRB Bitcoin

    Source: Santiment on X

    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.

    Bitcoin price chart from Tradingview.com

    BTC price falls below $34,400 support | Source: BTCUSD on Tradingview.com

    Featured image from Business Insider, chart from Tradingview.com

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    Scott Matherson

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  • Solana Barrels Close To $32: Critical Levels Traders Should Watch

    Solana Barrels Close To $32: Critical Levels Traders Should Watch

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    Solana (SOL) has recently surged to a crucial price level, setting the stage for a pivotal moment that will shape its foreseeable future. This cryptocurrency’s price trajectory is now at a crossroads, as it eases off the recent bullish breakout that captured the attention of investors worldwide.

    Trading at $31.40 on CoinGecko, the cryptocurrency has experienced a 0.6% gain over the last 24 hours, accompanied by an impressive seven-day rally of 28.6%. Despite this promising trajectory, several key resistance and support levels are shaping the future of SOL.

    While the $30 mark remains a vital resistance level for SOL, the cryptocurrency is also facing significant barriers at the $25 and $35 thresholds. Historically, $25 has proven to be both a support and resistance level, potentially offering a safety net for any immediate downward movements.

    Conversely, breaching the $35 threshold could signify a major breakthrough for SOL, propelling it to new highs and solidifying its bullish course in the market.

    SOL price action in the last week. Source: Coingecko

    Analyzing SOL’s Technical Patterns 

    Amidst these price fluctuations, the emergence of the “golden cross” pattern on SOL’s price chart has captured the attention of market analysts and investors alike. In technical analysis, the golden cross occurs when a short-term moving average crosses above a long-term moving average, indicating a potential bullish trend. 

    Its presence within SOL’s current price movements signals an optimistic outlook, with the potential for sustained upward momentum.

    Despite the optimistic indicators, recent developments within the Solana ecosystem have cast a shadow on SOL’s potential trajectory. News of Marinade Finance, the largest protocol on the Solana network, halting operations for users in the United Kingdom due to compliance concerns has reverberated throughout the cryptocurrency community. 

    The move reflects the protocol’s commitment to adhere to the regulatory framework outlined by the United Kingdom’s Financial Conduct Authority (FCA). This development has introduced an element of caution and potential volatility into SOL’s otherwise promising market performance.

    SOL market cap currently at $13.278 billion. Chart: TradingView.com

    RSI Reinforces The Bullish Narrative 

    Further fortifying the bullish sentiment surrounding SOL is the surging Relative Strength Index (RSI). Currently on the rise, SOL’s RSI indicates robust buying pressure within the market.

    While an RSI above 70 is generally considered overbought, and one below 30 is deemed oversold, the current upward trajectory suggests a strong investor sentiment favoring continued upward movement for SOL in the near term.

    As Solana stands at this critical juncture, investors and analysts are closely monitoring both the technical indicators and the regulatory landscape to gauge its future performance in the increasingly dynamic cryptocurrency market.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from The Independent

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    Christian Encila

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  • Bitcoin Price Shoots Up to $31K But These 5 Altcoins Are Flying

    Bitcoin Price Shoots Up to $31K But These 5 Altcoins Are Flying

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    The weekend has been a big one for crypto markets, with BTC skyrocketing to a new multi-month peak at around $31,000.

    Moreover, the move has pushed total market capitalization to $1.19 trillion, its highest level since mid-August. 

    Solid Bitcoin Weekly Close

    Bitcoin prices neared $31,000 during the Monday morning Asian trading session. This is the highest they have been since mid-July, marking the fourth time the asset has visited this price level in 2023.  

    Analysts have observed the bullish weekly candle close, wiping out all losses over the past two months. 

    Moreover, BTC dominance is over 52%, its highest since April 2021. Analyst ‘CrediBULL Crypto’ said Bitcoin “is on the verge of a massive breakout, and dominance is going a lot higher before it shifts back to a downtrend.”

    Bitcoin’s 11% gain over the past week has moved MicroStrategy’s massive $4.6 billion investment back into the green. Nevertheless, traders have identified a head and shoulders pattern that could lead to another downside if it plays out. 

    Nevertheless, Bitcoin’s 2% daily gain has been dwarfed by the double-digit pumps for a handful of altcoins.  ‘CrediBULL Crypto’ commented:

    “The 5 out of 10,000 alts that are pumping right now are not the norm they are the exception- which is also why they have barely made a dent on BTC dominance.”

    Five Flying Altcoins

    Chainlink’s LINK has made a whopping 17% over the past 24 hours to reach $10.74 at the time of writing. The asset is now up 44% over the past seven days and is the top-performing altcoin today. 

    LINK has smashed through resistance at around $8 to reach its highest price since May 2022, when the Terra/Luna ecosystem collapsed. 

    AAVE is also on a tear, gaining 11% over the past day to hit $78.90 at the time of writing. However, it has returned to 2023 resistance levels that were last hit and rejected in mid-July. 

    Fantom (FTM) has also gained 11% on the day to reach $0.221. This is its highest price since the mid-August market dump. 

    Polygon (MATIC) is up 9% to reach a ten-week high of $0.621 at the time of writing. Meanwhile, Aptos (APT) has gained a similar amount over the past 24 hours to reach $6.20, its highest since mid-August.

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    Martin Young

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  • MATIC market cap currently at $6.8 billion. Chart: TradingView.com

    MATIC market cap currently at $6.8 billion. Chart: TradingView.com

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    Solana (SOL) has witnessed an impressive resurgence, climbing to $25.46, marking a remarkable 10% rally in the past 24 hours. This surge is part of a broader trend, with SOL’s price experiencing a seven-day surge of 19.4%, further solidifying its position as one of the prominent players in the crypto sphere.

    Solana’s remarkable journey to its current valuation is a testament to its resilience, especially considering the tumultuous events it weathered nearly a year ago. In November, the cryptocurrency faced a severe setback due to the FTX implosion saga, which sent SOL plummeting to $8. 

    However, Solana has emerged from the ashes, and the crypto community is taking notice of its remarkable recovery.

    Solana Technical Signals Point To A Bullish Momentum

    The recent surge in SOL’s price can be attributed to several key factors. One notable driver is the increasing network activity and substantial growth within the Solana ecosystem, particularly in the realm of decentralized finance (DeFi). 

    The crypto world was offered a glimpse of this growth in a video shared by @Frankie_Candles, which shed light on the vibrant activity happening “behind the scenes” in the Solana ecosystem.

    Notably, the total value locked in Solana’s DeFi smart contracts has seen a significant upswing, soaring from $210 million in January 2023 to $331 million in October, as reported by DefiLlama.

    SOL TVL. Source: DefiLlama

    Furthermore, Solana bulls have reinforced the bullish outlook by successfully maintaining support at the $25 mark and breaching the upper dotted falling trendline. 

    The presence of a buy signal is often considered an encouraging sign for traders, reinforcing confidence in the cryptocurrency’s upward trajectory.

    One key technical aspect to watch out for is the potential for a “golden cross.” A golden cross occurs when a short-term moving average crosses above a long-term moving average, typically signaling a possible bullish breakout. This could be a pivotal moment for Solana, as it may provide further confirmation of its bullish momentum.

    SOL has a market cap of $11.26 billion as of today. Chart: TradingView.com

    SOL Neckline Resistance

    Another significant element to monitor on the charts is the possibility of Solana conquering the neckline resistance once again. The neckline resistance represents a critical point that acts as a threshold for bullish momentum.

    Historically, breaking through this level has been a precursor to sustained uptrends, suggesting the potential for further gains in the near future. If Solana manages to achieve this, it will mark a strong resurgence, reaffirming its position as a strong force in the ever-evolving cryptocurrency landscape.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Shutterstock

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    Christian Encila

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  • Giftchill Launches Crypto Gift Cards Website to Deliver a Cutting-Edge Customer Experience

    Giftchill Launches Crypto Gift Cards Website to Deliver a Cutting-Edge Customer Experience

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    Located in the UK, GiftChill recently revamped its website. As an international leader in the gift card industry, GiftChill offers a unique one-stop-shop experience for customers seeking to purchase gift cards online. Customers can now use the GiftChill website to browse hundreds of featured gift cards, check product reviews, and order gift cards online.

    Press Release
    –

    Nov 9, 2021


    SINGAPORE, November 9, 2021 (Newswire.com)
    –
    Located in the UK, GiftChill recently revamped its website. As an international leader in the gift card industry, GiftChill offers a unique one-stop-shop experience for customers seeking to purchase gift cards online. Customers can now use the GiftChill website to browse hundreds of featured gift cards, check product reviews, and order gift cards online. 

    The GiftChill website offers a simple, secure online registration process that takes most people less than 60 seconds to complete. Once the registration process is complete, account holders can place orders for gift cards with just a few clicks. 

    Upon completion of their online purchase, customers can expect to receive their gift card code instantly. Each gift card code is delivered to the email address the customer provided during registration. Codes are accompanied by instructions that include helpful tips about using the gift card online or in stores.

    GiftChill’s updated site also plays a key role in helping customers save money when purchasing gift cards. Because GiftChill does not have to integrate with credit card companies or Paypal, GiftChill is able to minimize overhead costs. The savings are passed along to customers who are able to buy gift cards at a lower price. The new website may soon feature daily specials to enable GiftChill customers to maximize their ROI.

    Customer privacy is a top priority for the GiftChill team. In contrast to other websites that require buyers to provide a large amount of detailed personal information, GiftChill’s registration process requires customers to provide the bare minimum amount of information that is required by law. Account holders can therefore complete transactions with peace of mind knowing that every effort has been made to protect their privacy.

    GiftChill takes their commitment to privacy a step further by enabling customers to buy gift cards through their website using six popular cryptocurrencies: Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin and USDC. This means buyers are never required to enter their credit card information when making a purchase. Additional payment options are also under consideration as the GiftChill team strives to combat any unnecessary credit card use on their website. 

    Providing buyers with a hassle-free purchasing experience is a primary goal for GiftChill. By keeping the registration process simple and offering attractive payment modalities, customers can enjoy a fast, seamless buying experience. At the same time, customers never have to settle for an uninspiring gift card purchase. The GiftChill site features over 200 gift card options that change every day.

    To learn more about their discounted gift cards, you can contact them on Support@giftchill.co.uk. Their dedicated team of professionals is committed to providing customers with a wide variety of affordable gift card options.

    Source: GiftChill

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