Tag: crypto

XRP Price Coulds Repeat Legendary 61,000% Surge Like 2017, Analyst Claims
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Prominent crypto analyst CryptoInsightUK has given his thoughts on whether or not the XRP price can replicate the notable 61,000% gain it enjoyed back in 2017. Although the analyst sounded uncertain about how things could pan out, he provided insight as to what the future holds for XRP.

XRP Price Repeating 61,000% Move Will Be Harder

In a post on his X (formerly Twitter) platform, CryptoInsightUK highlighted how XRP exploded in 2017. The crypto token is said to have seen a 61,000% gain in 280 days. As to whether a repeat can happen, he mentioned that it would be harder as the market cap would have to be huge. He didn’t rule it out, though, as it would be possible with “real-world utility.”

The crypto analyst seemed to be more focused on talking about the XRP price potential rather than talking about how high the token could rise. He alluded to the hate that XRP receives and how when people feel such a way, there is probably “value” in that asset. He also highlighted other factors that make the token stand out.

CryptoInsightUK mentioned that “XRP has had another 3 years of consolidation to most other cryptos.” This places the token on a higher pedestal as it bounded to enjoy greater expansion from a technical analysis angle.

The analyst also spoke about how XRP is the only crypto token that has overtaken ETH in market cap on more than one occasion. On one of them, it enjoyed about 20% market share in the total crypto market cap.

The crypto analyst was quick to disclaim whether that meant he was suggesting that the XRP price could achieve these feats again. He stated that only time will tell as he wasn’t making any point but only sharing his thoughts.

XRP’s Unique Offerings And Positioning

In his post, CryptoInsightUK also mentioned that “XRP is in a unique position.” He was referring to how XRP “is the only altcoin that has legal clarity.” This clarity comes from Judge Analisa Torres’ ruling that XRP is not a security in itself. That is another factor that he believes makes XRP stand out, considering that the regulatory landscape is only just building up.

Ripple’s Chief Legal Officer Stuart Alderoty had previously echoed similar sentiments when he mentioned how Judge Torres’ ruling helped XRP attain a unique status. He specifically mentioned the fact that XRP was now “uniquely classified” as a non-security in the US. The unique status is more significant considering that the US Securities and Exchange Commission (SEC) continue a host of crypto token as securities.
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Token price reclaims $0.61 | Source: XRPUSD on Tradingview.com 
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Featured image from Bitcoinist, chart from Tradingview.com
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Scott Matherson

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November 25, 2023
Crypto Market Cap Soars: $1.5 Trillion Milestone Achieved, Bitcoin Sets New Record

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Bitcoin (BTC) and the cryptocurrency market have seen a significant uptrend, hitting a new annual high and surpassing $1.45 trillion, paving the way for potential gains in the final days of November.

Notably, BTC, the largest cryptocurrency in the market, has achieved a remarkable milestone, approaching the $40,000 level with a price surge to $38,400.

The catalysts behind this recent surge include the anticipated acceptance of the BlackRock Bitcoin Spot exchange-traded fund (ETF) within the next 45 days and speculation that BlackRock itself may influence Bitcoin’s price through significant buying pressure on Coinbase.

BlackRock Driving BTC’s Recent Price Surge?

According to CoinGecko, the global cryptocurrency market cap currently stands at $1.5 trillion, reflecting a 2.05% change in the last 24 hours and an impressive 72.26% change compared to the same period last year.

This surge in market capitalization has not only boosted Bitcoin but has also contributed to gains in other major cryptocurrencies within the Top 100, such as Blur (BLUR), which soared a staggering 27%, Mina Protocol (MINA), which gained 9%, and Bittensor (TAO), which has seen a 14% surge in the last 24 hours, to name a few.

Regarding the recent surge of BTC to a new yearly high, crypto expert known by the pseudonym “Crypto Rover” has shed light on potential catalysts driving the recent surge. According to Rover, the BlackRock Bitcoin Spot ETF launch is expected to occur within the next 45 days.

In this regard, Rover’s analysis suggests that BlackRock, the world’s largest asset manager, may play a role in Bitcoin’s recent surge. The speculation is based on the observation that a significant amount of Bitcoin buying pressure appears to be coming from Coinbase, the largest cryptocurrency exchange in the United States, with the platform serving as BlackRock’s custodial partner.

Promising Bitcoin Price Targets For Late 2025

Renowned crypto analyst Crypto Con has unveiled what he claims to be the most accurate Log Regression Curves for Bitcoin to date. These curves have provided insights into the future cycle top, an elusive aspect of Bitcoin analysis.

According to projections derived from the curve matching technique, late 2025 could witness two potential price targets for Bitcoin: $130,000, referred to as Layer 6, and Layer 7, with a target price of $180,000.

BTC’s price targets for late 2025. Source: CryptoCon on X.

The analyst says several models and projections support the $130,000 target, adding to its credibility. According to Crypto Con, even the most conservative estimate, known as Layer 5 at $94,000, seems less likely.

Based on historical trends, it is improbable that the entire red band, representing potential price ranges, would fail during this cycle. Therefore, one of the projected targets is expected to be accurate.

Based on the available information, Crypto Con favors layer 6 at $130,000 as the more likely target for Bitcoin’s late 2025 price surge. This projection aligns with the Halving Cycles Theory, suggesting a timeframe of approximately 21 days from November 28th, 2025.

BTC is reaching a new yearly high on the daily chart. Source: BTCUSDT on TradingView.com

Bitcoin has undergone a recent pullback within the last hour following its attainment of a new yearly high. As of now, it is trading at $37,800.

Featured image from Shutterstock, chart from TradingView.com

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Ronaldo Marquez

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November 24, 2023
Analyst Says Ethereum Is Seeing ‘Systemic Buying’, What This Means
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A CryptoQuant Analyst has identified a significant systemic buying trend in Ethereum, suggesting a rising influx of strategic investments into the blockchain network.

Analyst Reveals Ethereum Systemic Buying Trend

A crypto market observer and a contributing analyst at CryptoQuant, Maarten Regterschot has taken to X (formerly Twitter) to publish a systemic buying trend he witnessed in Ethereum. The analyst presented a chart indicating that one or more investors have been engaging in Time Weighted Average Price (TWAP) buying on Ethereum futures.

Regterschot stated that the linear increase in open interest in Ethereum suggests that there has been systemic buying of ETH assets for an extended period of time. He revealed that approximately $700 million has already been added to the market.

“Someone(s) are TWAP-buying on Ethereum futures. This linear growth in open interest indicates systematic buying over a certain period. There is $700 million added so far,” Regterschot said.

Systemic buying in this context involves crypto investments made at regular and periodic intervals. TWAP on the other hand is the measure of an asset’s average price over a specific time period.

This systemic buying trend suggests a growing demand for ETH by investors over a long period. The trend also coincides with the latest Ethereum developments in the crypto space, including the growing applications on Ethereum Spot ETFs and its potential approval by the United States Securities and Exchange Commission (SEC).

The analyst has not revealed insights into the motives behind this systemic buying of Ethereum. However, the developments could become a catalyst for a potential bullish momentum for Ethereum (ETH).

ETH Price Holds $2000 Mark

The price of Ethereum has seen multiple upticks within the last few months, allowing the cryptocurrency to finally cross the $2,000 mark. According to CoinMarketCap, Ethereum’s price is up by 2.3% and trading at $2,062 at the time of writing. Although its overall market capitalization is down by 23.31%, the cryptocurrency has been experiencing a fair amount of price increases recently.

As the potential approval of Ethereum Spot ETFs by the US SEC looms next year, many investors are currently holding their crypto assets as they gear up for a possible bull run. There have also been several optimistic price projections for the ETH token. Some analysts have predicted that the price of the cryptocurrency will reach $2,250 if it succeeds in crossing multiple resistance levels.
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ETH price falls to $2,055 | Source: ETHUSD on Tradingview.com
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Featured image from Decrypt, chart from Tradingview.com
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Scott Matherson

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November 23, 2023
Bitcoin Bulls Buckle Up: Seasonal Trends Point To $50,000 Target

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Bitcoin (BTC), the largest cryptocurrency on the market, has again failed to consolidate and reach the $38,000 level for the third time, as it is currently experiencing a 3% pullback. This has led the community to speculate that a significant retracement may occur before the bullish momentum resumes and the next uptrend begins.

However, renowned crypto analyst Adrian Zduńczyk has recently shed light on Bitcoin’s potential next target of $50,000. Zduńczyk’s analysis considers several crucial factors, including the prevailing bullish market sentiment, the ongoing uptrend, the short-term outlook, miner sentiment, and seasonal trends.

Evidence Of Dominant Bull Market

Zduńczyk notes that the cryptocurrency industry is in a bull market, with Bitcoin reaching a new 52-week high close and experiencing the third wave of the bullish cycle. The correlation between Bitcoin and the S&P 500 has risen, indicating a favorable environment for Bitcoin. High time frame trends are also rising.

Zduńczyk identifies key macro support levels for Bitcoin at $29,000 and $27,000, highlighting growing demand fueled by the anticipation of the approval of spot Bitcoin exchange-traded funds (ETFs) and the upcoming halving event expected in April 2024.

Notably, the daily chart for BTC remains in an uptrend, according to Zduńczyk. He points to a target of $40,000, supported by the appearance of a “golden cross” pattern.

Furthermore, Zduńczyk believes that the rising Simple Moving Average (SMA) 200 serves as “irrefutable evidence” of a dominant bull market since January. These indicators suggest a continuation of the upward trajectory for Bitcoin.

Zduńczyk also identifies key support levels at $35,000 to $35,800, emphasizing that a bullish sentiment prevails as long as Bitcoin remains above these levels.

Zduńczyk Eyes Bitcoin November Target Of $50,000

Currently, Bitcoin is ranging between $35,500 and $38,000, Zduńczyk notes that the momentum bands are widening, indicating an increase in volatility. The rising 50-day Average True Range (ATR) trend supports this observation.

Fear & Greed Index stands at 69, indicating a mixed sentiment among market participants. Miners, on average, are enjoying a profit increase of 23%. Zduńczyk maintains a positive outlook based on these factors.

Regarding seasonal trends, October demonstrated a gain of 27%, exceeding the average performance. Historically, November has been the best month for Bitcoin, which has an average gain of 43%, with a target of around $50,000. Notably, December typically adds 7% to November’s closing price.

BTC’s price drop on the daily chart. Source: BTCUSDT on TradingView.com

Currently, BTC is trading at $36,400, reflecting a 5% and 22% profit over the past fourteen and thirty days, respectively. The focus now shifts to whether BTC’s price can maintain its crucial support levels and sustain its bullish uptrend, potentially reaching the $50,000 milestone supported by historical patterns.

Featured image from Shutterstock, chart from TradingView.com

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Ronaldo Marquez

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November 22, 2023
Binance crypto exchange founder to step down amid US illicit finance probe

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US authorities say CEO Changpeng Zhao pleaded guilty to breaking anti-money laundering laws.

Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has stepped down as CEO and pleaded guilty to violating anti-money laundering laws.

The deal with the United States Department of Justice (DoJ) is part of a larger settlement that involves several federal agencies and will include fees of more than $4bn, the DoJ said on Tuesday.

The announcement is the latest blow to the cryptocurrency industry, which has been marred by a series of scandals and investigations that have unearthed fraudulent behaviour by central players and firms.

Cryptocurrency has also comes under scrutiny as a tool used by illicit groups to circumvent global financial safeguards.

Zhao, a Canadian national, pleaded guilty to one count of failure to maintain an effective anti-money laundering programme.

“Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed. Now it is paying one of the largest corporate penalties in US history,” Attorney General Merrick Garland said.

This month, Sam Bankman-Fried, the 31-year-old founder of FTX, the world’s second-largest crypto exchange, was convicted of fraud for stealing more than $10bn from customers and investors.

“In just the past month, the Justice Department has successfully prosecuted the CEOs of two of the world’s largest cryptocurrency exchanges in two separate criminal cases. The message here should be clear: Using new technology to break the law does not make you a disruptor. It makes you a criminal,” Garland said.

Acting US Attorney Tessa Gorman for the western district of Washington said that because Zhao “knowingly operated a financial platform without basic anti-money laundering safeguards, the company caused illegal transactions between US users and users in sanctioned jurisdictions such as Iran, Cuba, Syria, and Russian-occupied regions of Ukraine – transactions for which Binance profited with significant fees”.

Prosecutors have said that as part of the settlement, Binance will pay fees of $1.81bn, a forfeiture of $2.5bn, and personal payments from Zhao of about $50m.

Zhao’s plea agreement also bars him from all involvement with Binance, a Cayman Islands limited liability company.

The founder has previously faced charges of diverting customer funds.

“Binance turned a blind eye to its legal obligations in the pursuit of profit. Its willful failures allowed money to flow to terrorists, cybercriminals and child abusers through its platform,” Treasury Secretary Janet Yellen said. “Any institution, wherever located, that wants to reap the benefits of the US financial system must also play by the rules that keep us all safe from terrorists, foreign adversaries and crime or face the consequences.”

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November 21, 2023
Founder Of Binance Pleads Guilty To Anti-Money Laundering Charge

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The charge was similar to practices uncovered after the collapse of the second largest cryptocurrency exchange, FTX, last year.

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November 21, 2023
How XRP Current Value Signals An Imminent Market Triumph

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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

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Samuel Edyme

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November 21, 2023
Amidst OpenAI chaos, Sam Altman’s involvement in Worldcoin is ‘not expected to change’ | TechCrunch

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Sam Altman may have been asked to leave OpenAI, but his involvement in crypto project Tools for Humanity, which is building Worldcoin, remains uninterrupted, a source close to the project told TechCrunch.

Altman has “consistent and valuable” engagement with Tools for Humanity and “that is not expected to change,” the source said. The source added that Altman is still chairman and co-founder of the project, confirming that the information on the project’s website is up to date.

News of Altman’s ouster sent the Worldcoin token, WLD, plummeting to a low of $1.84 on Saturday, but the token recovered over the weekend and is currently trading on par with previous levels at $2.40, per CoinMarketCap data.

Worldcoin raised $115 million in May in a Series C round led by Blockchain Capital. As of March, Altman was on the project’s board, but was not involved in day-to-day operations.

“Proof of personhood is becoming increasingly important in the rapidly advancing age of AI,” The Worldcoin Foundation told TechCrunch late on Monday. The team supporting Worldcoin is still focused on the project’s mission, “building a more human internet and a more accessible global economy through World ID, a privacy-enhancing way to verify humanness and uniqueness online,” the company said.

Worldcoin is well-known for its controversial Orb hardware, which scans peoples’ irises and assigns them an ID that lets users access the Worldcoin’s application and a digital passport. The verification process is meant to prove individuals’ identities and stop anyone from making multiple accounts.

The crypto project has faced pushback from some countries, especially Kenya, which banned Worldcoin from scanning any more of its citizens’ eyeballs on concerns that the company failed to inform users about the data security and privacy measures it had taken, and how the data collected would be used or processed.

Worldcoin has also faced backlash from critics, who allege the company targets developing countries with laxer privacy rules. The project gives most participants (outside the U.S. and some other countries) 25 WLD tokens, worth roughly $58.5, in exchange for signing up, and that has spurred its critics to call it exploitative.

That hasn’t stopped individuals from signing up. Since launching to the public 120 days ago, over 2.46 million people have signed up for Worldcoin, according to its website. Over the past seven days, more than 65,200 new accounts have been created and the project has averaged 137,000 wallet transactions daily.

Tiago Sada, head of product for Tools for Humanity and a core contributor to Worldcoin, previously told me that focusing on developing countries and providing free tokens was “fair” because most tech projects focus on emerging markets first, given that they are the “easier ones to operate in.” And Altman should be around to help for the foreseeable future.

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Jacquelyn Melinek

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November 21, 2023
Dogecoin Metrics Signal Impending Breakout, How High Can The Price Go?
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Dogecoin is definitely on a rally as shown by crypto market numbers. The cryptocurrency has experienced a significant market increase amidst a wider consolidation, with the price up by 7.46% in the past seven days.

Although the price of DOGE was recently pushed back down today by some level of resistance near $0.087, it has since bounced back up again at $0.082. At the time of writing, DOGE is trading at $0.084, an increase of 2.4% from this support level. This indicates that the bulls are not ready to give up buying momentum.

According to a recent post by crypto analyst Rekt Capital on social media, DOGE has finally confirmed a break out of a descending channel pattern. On-chain signals also point to a huge surge in interest and trading volume, indicating DOGE might be going higher soon.

$DOGE has confirmed a breakout from its Channel#DOGE #Crypto #Dogecoin pic.twitter.com/SvmtG65FZa

— Rekt Capital (@rektcapital) November 17, 2023

Metrics Signal Impending Breakout

The current state of the cryptocurrency market appears to be one of general consolidation when viewed through the lens of the price action of the many different cryptocurrencies that are tracked by Coinmarketcap.

Crypto market caps seem to be running out of steam after a four-week consecutive rally. However, Dogecoin’s market value has been increasing over the past week, bucking the trend of most other cryptocurrencies in the top 10 by market size, which has all shown a decline in their market caps over the past week.
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Source: IntoTheBlock
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Dogecoin has finally broken out of its narrow trading range in the weekly candle chart, surging over 45% in the past month. Several catalysts have contributed to this impending breakout, one of which is an increased trading activity. Another catalyst is the announcement of Astrobotic’s plan to send a physical Dogecoin token to the moon in December.

Whale movements have also contributed for the most part. According to on-chain data from crypto analytics platform Santiment, the cumulative balance of wallets holding 10 million to 1 billion DOGE has increased from 44.63 billion DOGE tokens on November 1 to a cumulative balance of 47.38 billion DOGE tokens on November 17th. As a result, these large holders have increased their holdings by 2.75 billion DOGE, worth approximately $231 million at the crypto’s current price.
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Source: IntoTheBlock
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How High Can The Dogecoin Price Go?

The technical indicators for Dogecoin are looking quite bullish right now. The short 10-day Moving Average has climbed steadily above the longer 21-day Moving Average since a bullish cross on October 23 last month, indicating the bulls still have major control over the market. A continued bullish momentum could see the crypto break various price resistances, the first being the $0.87 level.

Doge is trading at $0.08440 at the time of writing. The next hurdle is to break above $0.09 and then move towards $0.1. According to IntoTheBlock’s Global In/Out Of The Money metric, about 1.58 million addresses are still waiting for DOGE to climb above their minimum buying price of $0.858 before making a profit.
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DOGE price drops to $0.082 | Source: DOGEUSD on Tradingview.com
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Featured image from Analytics Insight, chart from Tradingview.com
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Scott Matherson

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November 18, 2023
Failed Bearish Signal Could Send Bitcoin To $85K Next Month
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Bitcoin recently gave a bearish signal, which ultimately failed to produce a meaningful pullback.

Due to the technical failure, historical data suggests that in only a matter of a month BTCUSD could set a new all-time high and reach a target of $85K per coin. Here’s why.

Why Failed Bearish Technicals Produce Bullish Breakouts

In technical analysis, certain patterns are considered characteristically bearish or bullish. For example, the ascending triangle is a typically bullish-leaning pattern, but only breaks upward 63% of the time. The other 37%, the pattern breaks down bearish.

Because of the nature of how orders and stop losses are stacked on either side of a pattern’s trend lines, a failed bullish pattern can be extremely bearish and vice-versa. Dissecting further, since the pattern was visibly bullish, it could have attracted more long-side positioning that is forced to unwind lower.

Recently, Bitcoin price gave a bearish TD9 sell setup on the weekly TD Sequential. However, no major correction followed. When this occurs, it often results in a sizable move in the opposite direction of the signal.

More simply put, the failed TD9 sell setup could mean a massive move higher. And how high price could go and how fast might shock you.
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Could BTC reach $85K in four weeks? | BTCUSD on TradingView.com
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Market Timing Tool Hints At Bitcoin Rally To $85K

The TD Sequential is a market timing indicator developed by Thomas Demark. A TD9 setup or TD13 countdown is a specific sequence of candles that signal trend exhaustion.

Back in 2020 when this same signal failed, Bitcoin blasted off to new all-time highs above $20,000 and then some. It rallied 143% in the four weeks following the signal and over 300% more in total when it was all said and done.

If the same magnitude move followed this recently failed TD9 sell setup, Bitcoin price would reach $85,000 by the end of December. Another 300% beyond the current all-time high in BTCUSD would take the top cryptocurrency to over $200,000 per coin in total.

In terms of lower prices, the indicator also provides TDST support and resistance levels. These levels rise and fall with each completed TD setup. This latest setup caused TDST floor price support to raise from $10,000 to $25,000, reducing the chances that BTCUSD ever trades below that price again.

In December 2020, after a failed TD9 sell setup, #Bitcoin did another 143% in 4 weekly candles, pushing above former ATH resistance

The same magnitude move would bring $BTC to another new ATH at $85,000 before the end of the year

Still doubt my thesis we’ll see ATHs in 2023? pic.twitter.com/GwCXEaY1II

— Tony “The Bull” (@tonythebullBTC) November 17, 2023
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Tony "The Bull" Severino

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November 18, 2023
Bullish Sentiment Surrounds AVAX Price As Republic Adopts Avalanche Blockchain

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Tech firm Republic has recently announced its mission to democratize private market investing, with the selection of Avalanche as the platform for launching its profit-sharing digital asset, the Republic Note (R/Note).

The R/Note is a revenue-sharing digital security that is backed by Republic’s private equity portfolio, which includes over 750 assets.

Republic And Avalanche Forge Partnership

According to Republic’s announcement, Avalanche was chosen for several key reasons. Firstly, its scalability and speed ensure that Republic Note holders can enjoy seamless and cost-effective transactions.

Notably, Avalanche has established partnerships with renowned brands like Amazon Web Services and Mastercard, highlighting its technical capabilities.

Additionally, Republic plans to launch a dedicated Subnet on Avalanche next year, offering a purpose-built network specifically designed for the Republic Note.

This will provide enhanced security, privacy, and regulatory compliance, creating a robust digital security environment.

Mission alignment between Republic and Ava Labs, the team behind Avalanche, is another crucial factor. Per the announcement, both entities share a commitment to fostering a more inclusive future for financial markets through tokenization.

Furthermore, Avalanche’s “eco-friendliness” sets it apart from other blockchains, consuming significantly less energy, per the announcement.

The pre-sale of Republic Notes has already attracted participation from thousands of individual retail investors, resulting in pre-sales exceeding $30 million. The public listing of the Republic Note is scheduled for December.

Optimism For AVAX Price

The partnership between Republic and Ava Labs is anticipated to have a positive impact on the AVAX price. The launch of the Republic Note on Avalanche’s platform establishes a strong foundation for expanding its reach to a global audience of investors.

Despite a 5% decline in the past 24 hours, AVAX has outperformed major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), with a 130% rally over the past 30 days, positioning itself as one of the industry’s top performers.

AVAX’s price correction over the past 24 hours on the daily chart. Source: AVAXUSDT on TradingView.com

However, it is important to note that AVAX has recently undergone a correction, and its ability to surpass the $20.64 level will be crucial in determining its prospects amidst the ongoing bullish momentum.

Resistance levels at $21.59 and $22.74 have proven challenging for AVAX to breach and consolidate since February 2023.

Overall, the forthcoming launch of the Republic Note on Avalanche’s mainnet is a significant milestone in making the asset accessible to pre-sale participants who have contributed over $30 million.

It remains to be seen whether this partnership can further bolster AVAX’s price and reinforce the positive trend observed over the past 30 days, potentially driving AVAX to new yearly highs in 2023.

The collaboration between Republic and Ava Labs underscores their shared vision of democratizing access to private markets through tokenization.

Featured image from Shutterstock, chart from TradingView.com

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Ronaldo Marquez

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November 17, 2023
Worldcoin’s future remains uncertain after Sam Altman fired from OpenAI | TechCrunch

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Sam Altman, the now former CEO of OpenAI, has departed his role and is leaving its board, according to a company post on Friday. But questions about his role at other entities like Worldcoin, the crypto project he co-founded, remain up in the air as its token falls on the news.

Worldcoin’s token, WLD, fell more than 13% on the day, to $1.91, CoinMarketCap data showed. When asked about Altman’s future at Worldcoin or its plans going forward, Worldcoin did not respond to TechCrunch’s request for comment.

Altman’s crypto project raised $115 million in May in a Series C round led by Blockchain Capital. In March, TechCrunch reported Altman was on the board of Worldcoin, but is not involved in the “day-to-day” operations.

Tip TechCrunch

Do you work at OpenAI or Worldcoin and know more? Get in touch.

Worldcoin obtains users by scanning irises through its Orb, which then assigns users an “iris code” or “World ID” that grants users access to the projects’ application and provides them with “a digital passport,” Tiago Sada, head of product for Tools for Humanity and a core contributor to Worldcoin, said on TechCrunch’s Chain Reaction podcast in September. The verification process purportedly allows people to prove their identity, and the iris code is used to make sure they don’t go and get another one.

In August, Worldcoin faced pushback from countries, including Kenya, which halted the project from scanning any more of its citizens’ eyeballs (and the project ignored initial orders). Worldcoin has faced backlash from critics, who allege the company targets developing economies. The project gives most participants (outside the U.S. and some other countries) 25 WLD tokens, worth roughly $48, in exchange for signing up, which could be seen as exploitative.

Sada said that giving out the free tokens and going to developing countries was fair because most projects, especially in crypto and tech, focus on emerging markets, as “those are the easier ones to operate in.”

While OpenAI stated Friday that the board “no longer has confidence in [Altman’s] ability to continue leading” the company, its statement didn’t fully explain why Altman was fired or where he stands with other related organizations, like Worldcoin.

Worldcoin’s application has over four million downloads and its active users are “more than double” globally, according to a blog post from the beginning of November. There are more than 2.4 million “unique humans” on Worldcoin and in the most recent seven days at the time of writing, about 53,800 new accounts have been made, and there have been over 59,000 daily wallet transactions, according to the company’s website.

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Jacquelyn Melinek

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November 17, 2023
Litecoin Sustains 4-Month Run With 37% Gain, Beating Its Peers
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With its latest break above the $74 barrier, Litecoin (LTC) is showing encouraging signs of a breakout into the bull market.

Increased transaction activity from miners and major investors in cryptocurrency is fueling expectations of an upward trend and suggests that a huge price spike is imminent.

At the time of writing, the price range for LTC is $61.50 to $74.50, up 3.5% in the last 24 hours, figures by crypto market price aggregator CoinGecko show. The crypto has so far been able to hold its ground and sustain a 37% increase in the last four months, data shows.

The 100-Day Moving Average, on the other hand, is currently at $67.40, while the 10-Day Moving Average is at $73.25. These indicators suggest that Litecoin is gaining pace, with resistance levels found at $80.11 and $93.05.

Litecoin hasn’t changed much in response to recent events in the crypto sector, even though it stands to gain directly. Companies like Blackrock, Invesco, Franklin Templeton, Ark Invest and Fidelity recently applied for a spot Bitcoin ETF.

Blackrock recently submitted a separate document for an Ethereum ETF. This indicates the prevailing confidence of the largest asset management firm globally in the potential approval of its Bitcoin ETF.

Litecoin has emerged as one of the most active blockchains in the industry, with a solid achievement of surpassing 1 million transactions on November 14th, marking the first time the proof-of-work (PoW) network has reached this milestone.

This surpasses the previous all-time high of 660,153 transactions recorded just a day earlier. Remarkably, Litecoin’s transaction activity over this two-day period has exceeded that of Bitcoin, highlighting a significant surge in LTC’s blockchain engagement.
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LTC market cap currently at $5.4 billion on the 24-hour chart: TradingView.com
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According to latest data, Litecoin has a strong daily trading volume that surpassed $612 million in the previous day. Like Bitcoin, Litecoin has shown to be resistant to manipulation.

Moreover, Litecoin continues to hold its position as a cryptocurrency with significant processing power for handling heavy transactions with a relatively consistent hash rate in recent months.

In the meantime, there are two very encouraging signs: the miners’ accumulation of LTC, which has reached reserves of over 2.5 million, and the spike in whale transactions, which peaked eight weeks ago.

But before the bulls can confidently shoot for $80 and higher, they must be able to breach the initial barrier at $78. A correction may begin if the price falls below $65; however, early support may come from the 406,590 holders who purchased 4.8 million LTC at approximately $67.
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Source: Santiment
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Meanwhile, the performance of the derivatives market presented a varied scenario. The Open Interest (OI) for Litecoin Futures on Binance exhibited a lateral movement, suggesting a decreased inclination among traders to speculate on the future price movements of the cryptocurrency.

Conversely, the Funding Rate on the exchange portrayed a positive trend, signifying the prevalence of long-position traders in the market. This divergence in market indicators reflects a nuanced sentiment among participants, with some exhibiting caution and a wait-and-see approach, while others express confidence in the upward trajectory of Litecoin.

(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 Creative Commons
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Christian Encila

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November 16, 2023
Bitcoin Price Ready To Go ‘Supersonic’, Analyst Says
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Popular crypto analyst Don Alt has joined the bandwagon of predictions pertaining to Spot Bitcoin ETFs. Don Alt recently took to social media platform X to convey a strong bullish Bitcoin price sentiment, issuing a forecast that the cryptocurrency is on the verge of going supersonic to $60,000 in the coming months.

Even a $100,000 price point is not out of the books, according to this analyst. The catalyst for this potential liftoff? The long-awaited approval of a Spot Bitcoin ETF in the US.

Bitcoin’s Supersonic Rally to $60,000

Don Alt is known for accurately predicting Bitcoin price points in the past and correctly pinpointed the crypto’s lowest price point in 2022. Now, Don Alt is of the notion that Bitcoin is poised for a massive price surge in the coming months that could send it soaring to $60,000.

It’s no news that this recent rally is due to the excitement around the SEC’s approval of spot Bitcoin ETFs and the analyst thinks this rally will continue until a $60,000 price point. The digital currency is already up by 121% since the beginning of the year and has broken multiple yearly highs in the past month.

The longer the SEC takes to approve the applications, the higher the rally will continue in anticipation. However, the analyst took a different line of thinking and considered the likelihood of a price decrease after the approval.

Don Alt mentioned that the approval might turn into a “sell the news moment,” implying that there might be many more bears waiting to take advantage of the price jump to sell off than the market thinks.

“Now, after the ETF gets approved, things might get a bit tricky. It could be a ‘sell-the-news’ moment, or maybe not. To be honest, I don’t know,” Don Alt said.

This line of reasoning resonates with economist Peter Schiff, who warned that approval of Spot Bitcoin ETFs might lead to a Bitcoin price decline. Schiff also believes that there could be a larger number of people sitting on their assets in anticipation of an opportunity to sell at a higher price.

On-chain data shows that large investors have been selling off in light of profit-taking. Bitcoin whales and sharks have sold around 60,000 BTC, worth about $2.2 billion in the past week.

Bitcoin Price To $100,000?

Don Alt dismissed bearish sentiments, particularly those waiting for a Bitcoin pullback to $12,000. “BTC is more likely to go to $100,000 here than it is to go back to $12,000,” he said.

The SEC is slated to decide on 12 ETF applications by November 17, although they might not be approved until January 2024.

At the time of writing, Bitcoin’s rally has slowed down, and the asset has consolidated just below and above the $37,000 price point.
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BTC maintains support above $36,400 | Source: BTCUSD on Tradingview.com
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Featured image from Cointribune, chart from Tradingview.com
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Scott Matherson

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November 14, 2023
10 common crypto scams and how to avoid them – MoneySense

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In just the first half of this year, investment scams conned Canadians out of $161 million—most of it lost to cryptocurrency scams, according to the Canadian Anti-Fraud Centre (CAFC). “Crypto investments are the top type of investment scams reported to CAFC,” says Jeff Horncastle, the organization’s acting client and communications outreach officer. He adds that fewer than 5% of scams are reported, so the actual numbers are likely much higher.

Scammers often find victims on social media

Cryptocurrency scams are often intertwined with other types of scams—and the criminals behind them cast a wide net. “Unfortunately, everyone is targeted,” Horncastle says.

Con artists frequently find potential marks on social media. According to an analysis by TradingPlatforms based on FTC data, nearly one-third of social media crypto fraud happens on Instagram, and one-quarter on Facebook.

“In some cases, the scam starts as a romance scam and quickly turns into an ‘investment opportunity,’” says Horncastle. “Because suspects have gained the victim’s trust, it can lead to a high-dollar loss for the victim.”

10 types of crypto scams

There are many types of scams to watch out for, and unfortunately, as investors get savvier, the cons evolve and become trickier to spot. To protect yourself, always know where your money is going, understand the crypto advertising rules in Canada, and only use trusted and compliant crypto trading service providers. (As a starting point, see MoneySense’s picks for the top crypto platforms in Canada, which are all registered with Canadian securities regulators.) An exhaustive list of crypto scams is likely impossible, but to protect yourself, here are 10 to watch out for.

1. Pump-and-dump, or rug pull

In a “pump and dump” or “rug pull” scheme, promoters of a cryptocurrency hype it up to boost demand, and when the price soars, they sell all their coins for a quick profit. Because they sell in large volumes, other investors get nervous and sell their coins, too. As panic sets in and the selling spreads, the coin’s value plunges. The promoters get rich and small investors are left “holding the bag,” faced with huge losses.

A notorious example of an alleged crypto pump-and-dump scheme is a coin called Squid Game. Launched in October 2021, it rode the popularity of the Netflix series of the same name—despite having no affiliation. Less than two weeks later, Squid Game’s crypto developers suddenly sold their holdings when the coin’s price hit $2,800, making themselves $3.3 million richer (all figures in U.S. currency). Today, one Squid coin is worth about a tenth of a penny.

The pump-and-dump scam is not unique to crypto, of course. It’s what high-flying stockbroker Jordan Belfort—the subject of the Hollywood film The Wolf of Wall Street, starring Leonardo DiCaprio—engaged in during the 1990s. His firm was accused of artificially inflating the price of penny stocks before selling their shares to make lots of fast money—costing investors up to $200 million. In the early 2000s, Belfort served 22 months in federal prison for securities fraud. He’s now marketing himself as an investment guru.

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Aditya Nain

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November 13, 2023
Arthur Hayes Unveils Playbook For Bitcoin, Crypto And Big Tech

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In his latest essay, Arthur Hayes, the co-founder of BitMEX, has laid out his investment playbook in the current global economic landscape, focusing on the potential of Bitcoin, cryptocurrencies, big tech, and traditional financial markets.

Dumb Trades

Hayes begins with a blunt critique of traditional investment strategies, particularly the purchase of long-term bonds in the current economic climate. He explicitly states, “The dumbest thing one can do is purchase long-term bonds with a buy-and-hold mentality.”

Hayes explains this viewpoint by highlighting the risks associated with these bonds, especially when liquidity conditions shift, saying, “You will experience a market-to-market gain today, but…the market will start to discount the impact of further Reverse Repo [RRP] balance decreases and long-end bond yields will creep higher, which means prices fall.”

Moving on to smarter investment approaches, Hayes acknowledges leveraging short-term debt, as exemplified by Stan Druckenmiller. Hayes notes that Stan Druckenmiller went mega-long 2-year treasuries. He remarked, “Great trade, brah! Not everyone has the stomach for the best expressions of this trade (hint: it’s crypto). Therefore, if all you can trade are manipulated TradFi assets like government bonds and stocks, then this isn’t a bad option.”

Hayes also argues that a trade “that’s a bit better than the medium-smart trade (but still not the smartest) is to go long on big tech.” Hayes focuses on AI-related companies. He identifies AI as a pivotal future technology, arguing, “Everyone knows that everyone knows that AI is the future. This means anything AI-related will pump, because everyone is buying it too. Tech stocks are long-duration assets and will benefit from cash being trash once more.”

Smart Trades: Bitcoin And Crypto

However, the smartest trade is to go long crypto, which has significantly outperformed other assets relative to the increase in central bank balance sheets. Hayes presented the chart below, comparing the performance of Bitcoin, Nasdaq 100, S&P 500, and Gold against the Fed’s balance sheet since March 2020, highlighting Bitcoin’s exceptional growth.

Bitcoin (white), Nasdaq 100 (red), S&P 500 (green), and Gold (yellow) divided by the Fed’s balance sheet | Source: Arthur Hayes / Medium

Hayes identifies Bitcoin as the primary investment target, describing it as “money and only money.” Following Bitcoin, he points to Ether as the commodity powering the Ethereum network. “Ether is the commodity that powers the Ethereum network, which is the best internet computer.”

He categorizes other cryptocurrencies, stating, “Bitcoin and Ether are crypto’s reserve assets. Everything else is a shitcoin.” He further elaborates on alternative layer-one blockchains like Solana, calling them “all overhyped, me-too, pieces of shit that won’t overtake Ethereum in terms of active developers, dApp activity, or Total Value Locked.”

Hayes also discusses decentralized applications (dApps) and their tokens. He finds this sector exciting for its high-return potential, though he acknowledges the risks: “Finally, all manner of dApps and their respective tokens will pump. This is the most fun, because down here is where you get the 10,000x returns. Of course, you’re also more likely to get rugged, but where there is no risk there is no return. I love shitcoins, so don’t ever call me a maxi!”

Geo-Economic Factors

Regarding his investment strategy in the context of current economic fluctuations, Hayes explains his focus on the net of RRP minus Treasury General Account (TGA) to gauge market liquidity, which informs his decisions on T-bill sales and Bitcoin purchases. He emphasizes the importance of adaptability, stating, “I will stay nimble and flexible. The best-laid plans of mice and men have a tendency to falter.”

Hayes also delves into geopolitical considerations, specifically the potential impact of the Hamas v. Israel conflict on oil prices and monetary policy. He notes Bitcoin’s resilience in such scenarios: “Bitcoin has proven to outperform bonds during times of war. […] The long-term US Treasury bond ETF has fallen 12% vs. Bitcoin pumping 52% since the onset of the Ukraine / Russia war.”

While he concedes that Bitcoin could fall in an initial move when Iran is drawn into the Hamas v. Israel war, it would be a “buy the dip” situation according to Hayes.

In a candid conclusion, Hayes comments on the historical context of geopolitical conflicts, expressing skepticism about the prospects for global peace: “Of course, if those in charge of Pax Americana committed themselves to peace and global harmony… nah, I’m not even going to finish that thought. These mofos have been practicing war since 1776, with no signs of letting up.”

According to Hayes, however, all roads lead to Bitcoin: “[It] will reassert itself as a real-time scorecard on the health of the war-time fiat financial system.”

At press time, BTC traded at $37,030.

BTC formed a new trend channel, 2-hour chart | Source: BTCUSD on TradingView.com

Featured image from South China Morning Post, chart from TradingView.com

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Jake Simmons

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November 13, 2023
Shiba Inu Price Prediction: Machine Learning Algorithm Reveals December Target
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The crypto market has experienced somewhat of a resurgence in recent times. Shiba Inu (SHIB) happens to be one of the altcoins that many seem to have their eyes on during this period. And if the prediction of this machine learning algorithm is anything to go by, it would seem that these SHIB holders are well positioned for more profitable times ahead.

SHIB’s Projected Price By December

According to data from the price prediction algorithm on the crypto analytics platform CoinCodex, SHIB’s price is predicted to hit $0.000009534 by December 11. Such price action will represent about a 10% increase from its current price.

Meanwhile, the sentiment around the token continues to be bullish, which suggests that many expect the token to rally further despite the impressive gains it has already recorded.

With such a bullish sentiment, CoinCodex’s prediction seems more attainable as the ecosystem could see more whales and retail investors jump in on the token. If that happens, it could further add to the buying pressure, an important metric to determine if SHIB could continue riding on this momentum to attain CoinCodex’s prediction by December.

In line with the bullish sentiment, CoinCodex noted that 24 technical analysis indicators are signaling bullish signals, with only a mere 4 indicators signaling bearish signals. Based on its forecast, the platform predicts that now remains a good time to buy the meme coin despite the impressive gains it has already recorded.

Another important metric that CoinCodex highlighted was the fact Shiba Inu’s RSI value currently stands at around 63.05, indicating that the token is neither oversold nor overbought. As to the exact time to buy the token, investors might be able to take a cue from CoinCodex’s five-day prediction as the platform expects a correction to around $0.000008008.

The Fundamentals Are Aligning For Shiba Inu

The Shiba Inu ecosystem has continued to record interesting developments that suggest that the fundamentals are as bullish as the charts and technical analysis. Most recently, the SHIB non-custodial wallet was launched in a bid to promote the ecosystem’s vision of a decentralized state and enhance the crypto experience of Shibizens.

Interestingly, the wallet is equipped with certain features that address the fears of using a non-custodial wallet. One of them happens to be a feature that allows users to recover their tokens even if they were to forget their seed phrase. The wallet also integrated Web3Auth to make the user onboarding experience effortless and straightforward.

At the time of writing, SHIB is trading at around $0.000009465, up by over 14% in the last 24 hours, according to data from CoinMarketCap.
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SHIB crosses $0.0000092 | Source: SHIBUSD on Tradingview.com
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Featured image from Times Tabloid, chart from Tradingview.com
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Scott Matherson

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November 11, 2023
Kaspa Rules The Weekend Top 100 Coin Roster With 63% Rally
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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%.
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Source: CoinMarketCap
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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.
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KASUSDT trading at $0.089 on the weekend chart: TradingView.com
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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.
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Source: CoinMarketCap
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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).

Featured image from Coingecko
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Christian Encila

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November 11, 2023
Solana Breaks Past $54 On Steady Price Momentum
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Solana is distinguishing itself in the crypto market, with a remarkable 50% monthly gain and an extraordinary 450% year-to-date increase, contributing to the overall surge in optimism.

This trend is further amplified by Bitcoin’s ascent beyond $37,000 and its ambitious aim to reach $40,000 by year-end. Solana’s standout performance adds a notable dimension to the current positive sentiment prevailing in the cryptocurrency space.

In an early morning rally, Solana broke the $50 barrier, marking its highest point since May 22, 2022. This exceptional performance underscores growing confidence in the crypto space, with Solana’s breakout signaling its prominence in the current market rally.

The huge increase in the price of SOL can be ascribed to the significant advancement of BlackRock’s application for an Ethereum exchange-traded fund (ETF). This observation signifies an increasing acknowledgment and approval of assets built on the Ethereum platform, which in turn contributes to the favorable trajectory of the overall cryptocurrency market and has a specific influence on the performance of Solana.

Solana: Navigating The FTX Liquidation Wave And Post-Conference Surge

In particular, this upsurge also transpired during the ongoing liquidation of SOL tokens by the bankruptcy estate of FTX. Just this September, the Delaware Bankruptcy Court granted approval for the disposal of the assets of the defunct exchange, comprising 55.75 million SOL.

Following its annual conference, Solana saw an impressive price spike that demonstrated its durability in the face of uncertainty surrounding FTX Group, a major SOL token holder that is currently experiencing financial turmoil.
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SOL market cap at $22.7 billion on the weekend chart: TradingView.com
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SOL’s increasing trajectory looks to favor FTX creditors notwithstanding FTX’s contradictory declarations regarding its investment. SOL’s current trading range may be able to recover the losses incurred by FTX exchange users, according to Thomas Braziel, CEO of 117 Partners.

The Founder of FTX Group, Sam Bankman-Fried, is facing legal action for allegedly embezzling client monies, which is why this is happening.

Solana Enjoys Sustained Upward Trajectory

Meanwhile, Jacob Canfield, a well-known figure in the realm of cryptocurrency trading, has provided an analysis elucidating his belief in the continued upward trajectory of the Solana price surge. Canfield expressed his belief that Solana is poised to maintain its position as one of the most influential entities in the ongoing bull market cycle.

In my opinion, I think that @Solana is going to continue to be one of the biggest movers during this current bull market cycle and I’m going to lay out some ideas for you.

It’s possible that with the Ethereum ETF news that some of these ideas don’t play out, but it’s worth… pic.twitter.com/oii8vWs0W9

— Jacob Canfield (@JacobCanfield) November 9, 2023

In another development, the declining trend of Solana’s total value locked (TVL), reflecting the amount deposited in its smart contracts, has reversed after six consecutive weeks. In the last three days alone, Solana’s DApps deposits have experienced a 10% increase.

Although the current level of 11.1 million SOL remains below the pre-FTX exchange bankruptcy level of 30 million SOL, this recent upward trend indicates that the Solana network may have passed its worst period.
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SOL TVL. Source: DefiLlama
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In the upcoming days, the trajectory remains dynamic and uncertain as the intricate dance between bulls and bears unfolds. A substantial downturn could be in the cards for Solana if the bears persist, testing a critical support at $38.77 within the current month.

On the flip side, failure to sustain prices above $54.01 and a bearish takeover may lead to a loss of momentum, resulting in a descent to the $46.83 support level.

However, should the bulls maintain control and keep the price above $54.01, the market is positioned for a robust upswing, potentially challenging the $57.84 resistance. Furthermore, a breakthrough past the $60.06 mark could pave the way for a sustained rally towards the upper resistance of $65.08.

Will SOL Reach $60 This November?

As Solana breaks past the $54 mark, anticipation looms over whether SOL will surge to $60 within the current month. The recent momentum shift and positive trends in total value locked (TVL) and DApps deposits suggest an optimistic outlook for Solana.

Investors are closely monitoring the developments, eager to see if the cryptocurrency can maintain its upward trajectory. The coming days hold the key to whether Solana will achieve the $60 milestone, marking a significant chapter in its market performance.

(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 Pixabay
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Christian Encila

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November 11, 2023
XRP Price Outlook: Expert Forecasts Potential Rise To $5.5
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In the evolving cryptocurrency market, XRP, currently ranked as the fifth largest digital asset, has recently exhibited a modest price increase compared to its major counterparts.

However, when examining XRP’s performance across various time frames, the token has reported significant gains. Nonetheless, it is worth noting that XRP is currently trading well below its yearly high, in contrast to its peers who have achieved and surpassed new highs in 2023 during the recent bullish surge.

Impending XRP Price Breakout?

Prominent industry expert using the pseudonym “Crypto Insight” on the X platform (formerly known as Twitter) shared an intriguing update with his over 20,000 followers, signaling an impending XRP blastoff.

According to Crypto Insight, it becomes apparent that XRP tends to lag behind the price action of Bitcoin (BTC), the leading cryptocurrency. However, there are indications that XRP breakouts are gradually converging with the movements of BTC.

Analyzing historical data, Crypto Insight highlights that the time taken for XRP to experience significant breakouts has been decreasing over time.

The first major breakout took approximately 22 days, while the most recent pump occurred within a shorter time frame of 13 days. If this trend of closing the gap between XRP and BTC continues, it suggests a potential breakout date around November 15th.

Additionally, XRP has undergone a cooling-off period in the 4-hour time frame, implying that there might be further room for a downside correction before a reversal to the upside occurs.

Crypto Analyst Targets $5.5

Crypto analyst Egrag Crypto has recently unveiled a noteworthy forecast for XRP, centering around the Multi-Year Ascending Triangle (MYAT) pattern, which holds significant implications for XRP’s price movements.

XRP’s MYAT pattern. Source: Egrag Crypto on X.

According to Egrag’s analysis, The MYAT pattern indicates that XRP experienced a breakout above the Symmetrical Triangle after reaching the 70% completion mark, which aligns with the timeline of July on the chart.

The surge in price to $0.93 and the subsequent retest at the breakout point are seen as part of a standard retest process, indicating potential strength in the upward momentum.

Looking ahead, Egarg Crypto highlights several key projections for XRP:
1. XRP appears to be poised to reach a target of $1.3, as indicated by the Blue Ascending Triangle on the chart. This level represents a significant milestone that XRP could potentially achieve in the near future.
2. The next notable move for XRP could potentially propel it to $5.5. However, it is important to note that at this price level, a considerable selloff by retail investors is anticipated, according to Egrag.
3. Building upon the larger symmetrical triangle pattern, Egarg Crypto suggests that XRP could see a remarkable 500% price increase in the future, indicating the potential for a substantial pump.
XRP’s consolidation above $0.600 on the daily chart. Source: XRPUSDT on TradingView.com

Currently, XRP is grappling with the challenge of establishing consolidation above the crucial $0.600 level, which holds significant implications for the cryptocurrency’s future price uptrend and overall prospects. In the past 30 days, XRP has recorded a gain of 35%.

However, the sustainability of this price action for the anticipated second leg up in November remains uncertain.

Featured image from Shutterstock, chart from TradingView.com
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Ronaldo Marquez

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November 10, 2023