ReportWire

Tag: Digital currency

  • Bitcoin Shaken By Major Capitulation Event As Price Drops To $65K

    They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

    Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

    Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

    So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

    Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

    Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

    Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

    Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

    So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

    Christian Encila

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  • Gold Hits Record $5K While Bitcoin Struggles To Keep Pace

    Gold shone brightly today, racing to a new high while crypto took the back seat, and the gap between the two assets opened wide.

    Related Reading

    On Monday, the precious metal moved past the $5,000 mark, registering a price point market sentinels had not witnessed before. Bitcoin, by contrast, failed to keep pace and traded well below its recent highs.

    Gold Hits Record Levels

    Safe-haven demand pushed gold sharply higher. Prices were up above $5k an ounce and inked roughly $5,110 at the peak. Silver, for its part, did not go unnoticed, jumping to fresh peaks near $107/ounce.

    Source: Gold Price

    Traders pointed to simmering geopolitical friction and talk of tougher trade moves led by US President Donald Trump as fuel for the rally.

    A weaker greenback made metals more attractive to customers overseas, and central bank buying provided steady backing. Liquidity in some corners were thin as investors rushed to shift cash into things that feel stable when risk elevates.

    Bitcoin Falls Behind

    Market numbers show Bitcoin hovering in the mid-$80,000s range, retreating from peaks seen late last year. Reports note the alpha crypto is roughly 30% below the highest level it hit reached in October 2025, leaving some holders quite jittery.

    Volatility was another factor. Where bullion is being sought for safety, Bitcoin is viewed more as a growth or speculative play, and that difference in investor application becomes clear when markets tighten. Some funds slashed their crypto exposure, signaling a short reroute away from high-risk gambits.

    BTCUSD currently trading at $87,832. Chart: TradingView

    Why Investors Are Shifting

    Analysts and traders described a simple choice: shelter or swing for gains. When headlines push worry, money flows into assets that are widely trusted across markets and governments.

    Metals fit that ticket. Based on market chatter, fears of a US government funding clash and fresh tariff announcements stacked pressure on stocks and added a sense of urgency to safe-haven acquisition.

    Options and futures trading hinted at a more cautious perpective, with volatility indexes rising and bond yields behaving in ways that made the yellow metal look more appealing by comparison.

    Related Reading

    What Traders Are Watching

    Market watchers said eyes will be glued on a few key metrics: The dollar’s path, moves by major central banks, and any sign that US politics escalates could keep metals elevated.

    For Bitcoin, network activity, large wallet flows, and regulatory headlines will likely set the tone. Some traders expect swings both ways. Others caution that when risk appetite is back, crypto may bounce hard, but that outcome is not a sure thing and will be dependent on a string of policy and macro moves.

    Featured image from Unsplash, chart from TradingView

    Christian Encila

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  • Record Dormant Bitcoin Supply Enters Market — What’s Next?

    According to on-chain trackers, a big wave of old Bitcoin has started moving after long dormancy. Coins that sat untouched for more than two years have been transferred in numbers larger than what was seen during past peaks in 2017 and 2021.

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    CryptoQuant analyst Kripto Mevsimi said on-chain data shows that 2024 and 2025 marked the largest release of long-held Bitcoin supply ever recorded. He tracks “revived supply,” or coins that stayed dormant for more than two years before being moved.

    That kind of movement usually means deep-pocketed holders are changing their plans, not small traders chasing a quick gain.

    A Shift Without A Party

    Reports say this release of long-held supply arrived with little fanfare. There was no mass retail mania. Prices did not spike in a frenzy. Instead, the transfers came during a stretch when the market has been under steady pressure from broader financial stress.

    Some of those older coins were likely sold for profit. Some may have been moved for other reasons — custody upgrades, private trades, or to back financial products. On-chain signals show the coins moved, but they do not write the reasons on the blockchain.

    Source: CryptoQuant

    Long-Term Holders Change Course

    Based on reports from analysts tracking these flows, the pattern suggests a changing of the guard. Early adopters who held through multiple cycles and pointed to scarcity and self-control have been trimming positions.

    New buyers are appearing who watch price swings and macro headlines. Institutions, fresh large accounts, and price-driven traders are now shaping much of the market’s short-term activity.

    Global Risk Pressures Risk Assets

    Reports have linked recent weakness in Bitcoin to rising global risk. Research ties part of the pullback to tariff moves by US President Donald Trump, which have pushed investors away from risky assets.

    BTCUSD now trading at $88,992. Chart: TradingView

    Tariffs can dent corporate profits, stir up inflation uncertainty, and change how the market views future rates — all of which hits sentiment. When big markets wobble, crypto often follows. That pressure helps explain why long-held coins moved without the usual hype.

    New Buyers Step Forward

    According To on-chain and price data, institutions and new “whales” are stepping into the gaps left by sellers. Bitcoin has been trading near the high $80k range, with recent figures around $89,140 as markets test demand. The old holders may have taken gains, but the market did not collapse. That shows there is still appetite, even if it is different from the past.

    Related Reading

    This cycle feels different because selling came without euphoria, and buying looks more tactical. That does not mean the story is over. The market might be shifting toward price-sensitive participants and outside financial forces.

    Or the recent calm could be a pause before fresh buying. Either way, these on-chain moves matter. They change where the coins sit, and that changes how future price swings may play out.

    Featured image from Unsplash, chart from TradingView

    Christian Encila

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  • Reasons Why XRP’s Technical Structure Favors Upside Than Down Over Next 6 Months

    XRP’s recent pullback to $2 has not changed the broader technical picture, according to a new analysis shared on X by crypto analyst Egrag Crypto. Despite the lack of bullish price action in recent weeks, the technical analysis proposes that the market structure continues to favor an upside continuation rather than the trend ending. 

    This outlook places the next three to six months in a constructive zone for XRP’s price action, where the probability of further upside is higher than the risk of a downward move.

    Related Reading

    XRP Currently In Consolidation, Not Distribution

    The assessment of Egrag’s technical analysis is based on XRP’s price action currently ticking a list of boxes that points to the next move being up. The first of these boxes is what the analyst referred to as a regime shift, which occurred after the XRP price made a decisive breakout from a multi-year base around $0.5 last year.

    This decisive breakout shifted the market from accumulation to expansion. Pullbacks in this phase are usually corrective, not trend-ending. In that context, the current price action can be viewed as part of a natural pause rather than a signal that the larger bullish move has failed.

    Another central argument in the analysis is that the current price behavior represents consolidation rather than distribution. Egrag Crypto describes the market as being in a compression phase following an impulse, and this is a pause, not a top. Although XRP has spent about 13 months ranging within this structure, the analyst interpreted this as extended consolidation instead of a distribution process.

    Chart Image From X. Source: @egragcrypto On X

    EMA Structure Keeps Bullish Bias Intact

    Another reason as to why the trend is more likely bullish is because XRP is still trading in alignment with its long-term exponential moving average, which remains above the 21 EMA. That relationship preserves the bullish bias, even though price currently sits below the faster 9 EMA, but this only reflects short-term weakness rather than a structural breakdown.

    XRPUSD currently trading at $2.013. Chart: TradingView

    Beyond pure chart structure, fundamental developments have added weight to the case for longer-term appreciation. XRP is currently holding $2 as an important support zone, and recent developments have emerged that could increase bullish sentiment.

    An example is Ripple’s conditional approval alongside other crypto firms for a national trust bank charter from the US Office of the Comptroller of the Currency.

    Related Reading

    Although the outlook is much more bullish, there is always the possibility of turning bearish within the next six months. According to Egrag, this outlook can only turn bearish if XRP records a sustained monthly close below the $1.80 to $1.60 region. 

    Taken together, the analysis concludes that XRP is more likely to resolve higher than lower over the next three to six months, even if there is price volatility along the way.

    Featured image from Unsplash, chart from TradingView

    Scott Matherson

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  • Get Ready — The End Of November Will Be Massive For XRP, CEO Says

    Reports from the Ripple Swell 2025 conference show growing interest in XRP. Traders and fund managers are watching November closely.

    Related Reading

    According to speakers at the event, several timetabled moves could push more money into the token in the short term.

    Canary Capital ETF Timetable

    Canary Capital’s spot ETF is set to go live after an updated S-1 filing, with a possible automatic launch 20 days later on November 13.

    Reports from the stage cited Steven McClurg, CEO of Canary Capital, as confirming the update. That filing removed an amendment clause that would have given the SEC greater control over the product’s effective date.

    Based on reports, the timeline could still shift if the SEC returns questions or if government operations change, but for now November 13 stands out as a key date.

    Retail And Whale Activity Cool

    CryptoQuant charts show retail trading activity has cooled since the big sell-off on October 10, when about $19 billion was wiped out in a single day.

    Small investors have pulled back into a neutral zone, which some analysts read as cautious waiting rather than exit. At the same time, large on-chain moves to exchanges have dropped sharply — from roughly 49,000 on October 25 and 44,000 on October 11 to about 800 on a recent Friday.

    That fall in whale-to-exchange transactions suggests fewer big sellers are moving funds to exchanges right now.

    Institutional Signals

    Speakers at Swell pointed to increasing institutional interest. Teucrium CEO Sal Gilbertie told audiences that the last half of November could be very important for XRP, tying that view to broader trends in tokenization and institutional flows.

    Citibank projections cited at the event say tokenized assets could hit trillions within five years, and other panelists mentioned planned moves by traditional finance players.

    Based on reports, Circle also has plans to begin trading public equities in early December, which some see as another nudge toward more mainstream involvement.

    XRPUSD currently trading at $2.32. Chart: TradingView

    Advice From Market Players

    Gilbertie urged holders to focus on the long term. “Believe in it. Don’t worry about volatility. It will even out as adoption comes and more institutional money enters,” he said.

    That view was shared by other commentators who pointed out that ETF listings and institutional onboarding have historically changed how markets price assets.

    Related Reading

    What To Watch Next

    Market participants will track the SEC process, any additional filings, and whether the government calendar affects the ETF start date.

    On-chain signals — like whale transfers and exchange flows — will also be watched closely. For now, reports suggest a mix of wariness among retail traders and growing institution-level interest, with November 13 marked as a date many are watching.

    Featured image from Unsplash, chart from TradingView

    Christian Encila

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  • ‘Sell Your House, Clothes And Buy XRP’ — Solana Exec’s Wild Advice Goes Viral

    Solana Foundation manager Vibhu Norby jumped into a heated XRP discussion on X, adding a sharp dose of humor to an already intense online conversation. The debate began when Tradeship University founder Cameron Scrubs urged followers to sell all their other crypto assets and buy XRP.

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    XRP Proponents Urge Bold Bets

    Scrubs, known for extreme XRP optimism, previously predicted that XRP would surpass Bitcoin and Ethereum within five years. He reignited that vision this week, telling investors to sell Bitcoin, Ethereum, ZCash, and Dogecoin — essentially, “sell everything” — and move into XRP. The statement quickly went viral, drawing reactions from multiple crypto communities.

    X user Caspian responded, saying it wasn’t meant literally. He added that the point was to align belief with action — if investors truly see value in XRP, they should act with conviction. “Own your stack, protect it, and stay ready,” he wrote.

    ‘Sell Your House, Bed, Kids, And Buy XRP’

    Vibhu Norby joined the thread with satire. He joked, “Sell your house, bed, kids, cardboard box, clothes, and buy XRP,” making it clear he was mocking the hype rather than endorsing it.

    Another user, Slorg, claimed he had already gone all in and asked what step to take next. Norby replied that the next move was to wait for major firms like BlackRock and Mastercard to tokenize trillions in assets, potentially sending XRP to $1,000.

    Despite the humor, the exchange highlighted the community’s real optimism about institutional involvement and the possibility of massive price growth.

    XRPUSD now trading at $2.31. Chart: TradingView

    Ripple Funding And Institutional Moves

    Ripple added fuel to the discussion by announcing a $500 million funding round at its Swell 2025 event. Investors included Galaxy Digital, Fortress, Brevan Howard, and Pantera Capital. Ripple CEO Brad Garlinghouse said the investment confirmed faith in a business “built on the foundation of XRP.”

    Reports also showed Ripple partnered with Mastercard to use RLUSD on XRPL for fiat settlement, while Ripple Prime is integrating XRP for institutional transfers. These developments gave long-term holders more reason to stay confident in XRP.

    Holding XRP Challenges Investor Conviction

    Meanwhile, Versan Aljarrah, the founder of Black Swan Capitalist, acknowledges that it is a constant emotional struggle holding XRP.

    He explains how investor patience is tested in every market cycle, and the challenge of remaining dedicated to your investment when the price moves materially can be one of the hardest things to do as an XRP holder.

    Related Reading

    Engineer Vincent Van Code responded, saying that it requires “serious conviction – or mental illness” to not sell when the price moves.

    It comes as no surprise that the mixture of irony, crazy predictions and institutional news keeps XRP relevant.

    For some of them, the “sell your house” comments are simply an exaggeration, but it showcases the passion and belief of the XRP community, which has planned and endorsed their position, and has continued to show the strength of their will no matter how volatile XRP price action has remained.

    Featured image from Pexels, chart from TradingView

    Christian Encila

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  • Dogecoin RSI Returns To Pre-Launch Levels, Analyst Says Next Major Surge Is Close

    Dogecoin’s latest two-week chart analysis suggests the cryptocurrency could be gearing up for a new explosive rally. According to trader and market analyst Trader Tardigrade, the Relative Strength Index (RSI) for Dogecoin has settled at levels similar to those seen before price rallies in the past two years or so. 

    This technical observation is based on Dogecoin’s steady uptrend along a long-standing support line since 2023 and points to its price action currently being in a possible early stage of accumulation before another leg upward.

    Related Reading

    Dogecoin RSI Now Showing Pre-Breakout Signals

    The RSI is an indicator that has consistently aligned with Dogecoin’s strongest rallies in this cycle. According to the current 2-week candlestick setup shared by Trader Tardigrade, the RSI is currently trading stable within the same low range that has preceded Dogecoin’s previous upward rises since 2023. 

    Each of the three major RSI dips, as shown on the price chart below, has coincided with price retests of the red ascending trendline. This event is notable because the first two dips were followed by significant upward movements in the Dogecoin price. Right now, the present RSI position is at its third dip, and it can be inferred that the meme coin may once again be approaching a launch point similar to those that led to past price surges.

    The long-term support trendline drawn from mid-2023 has acted as a reliable price base for Dogecoin’s recovery cycles. Price action has tested this line multiple times without breaking below it, and this has led to the creation of higher highs and higher lows. 

    Dogecoin 2W Candlestick Price Chart. Source: Trader Tardigrade On X

    Although Dogecoin broke below the trendline in the middle of October, this breakdown was very brief with a long wick. Based on Dogecoin’s price action in October, the most recent interaction with this trendline is just above $0.17. This latest interaction has been highlighted with stability above this price level, and this is another early sign of technical strength.

    DOGEUSD currently trading at $0.18. Chart: TradingView

    What To Expect If The Pattern Holds

    If this recurring structure between RSI and price maintains its consistency, Dogecoin could be about to embark on its third notable bullish run since early 2024. The most possible scenario is another rally that plays out over multiple weeks, as seen in the past two rallies.

    The last rally saw the Dogecoin price just around $0.5 in December 2024. Therefore, another rally from this point will see the creation of another higher high above $0.5 at least. The projection within the analyst’s chart, which is based on how the last rally plays out, points to a target around $0.8.

    At the time of writing, Dogecoin is trading at $0.1877, up by 0.5% in the past 24 hours. Reaching $0.8 will translate to new all-time highs and a 228% increase from the current price level. 

    Related Reading

    As long as the RSI holds its current base and the price stays above the ascending support, the sentiment surrounding Dogecoin may gradually shift from consolidation to rally alongside the rest of the crypto market.

    Featured image from Unsplash, chart from TradingView

    Scott Matherson

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  • China’s retaliation cements a bitcoin reset

    This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with:

    Not even Fed Chair Jerome Powell could lift bitcoin out of the red.

    Following historic losses, triggered by escalating trade tensions between the US and China, cryptocurrency investors have tried to regain their footing. But it’s been a rough slog.

    Riding on the winds of a booming stock market and the prevailing sense that more rate cuts will fuel an extended rally, bitcoin recently topped the charts and set itself up for a historically strong October. Even accounting for the sharp losses in recent days, the digital currency is up more than 20% for the year, outpacing the gains of the benchmark S&P 500. But geopolitical tensions highlighted how fragile such asset climbs can be.

    Read more: What is bitcoin, and how does it work?

    After months of an upward spiral with higher peaks, investors now confront a reset of speculative bets.

    The back-and-forth between Washington and Beijing forced a pause across an array of bullish markets, rattled investors, and reminded Wall Street that, far from being a settled matter, tariffs are still in play as a political weapon and a powerful destabilizer. But bitcoin and other cryptocurrencies were hit especially hard.

    Part of the plunge in prices has to do with the excitement surrounding crypto investing, which translates to more aggressive wagers using borrowed money. Some investors who wielded leverage on the chance of winning outsized gains were left dangerously exposed when panic selling took hold. A wave of forced liquidations exacerbated the fall.

    Bitcoin shed as much as 5% Tuesday, but pared back the losses as investors reacted to Powell implying that another rate cut is possible at the Fed’s next meeting in two weeks. Still, the weight of unresolved disputes with China, which worsened just before the closing bell, kept investors from doing much even with a bullish catalyst.

    The market-moving influence of a worsening trade conflict makes it harder to declare the sell-off a turning point for crypto or a peak bitcoin moment. If the dispute over critical minerals restrictions leads to a massive escalation in tariffs come Nov. 1, investors — crypto and otherwise — are in for more pain. And bitcoin and its lesser altcoin peers don’t have the corporate earnings to cushion a deteriorating macroeconomic picture.

    But if trade diplomacy succeeds, then stability could be just around the corner. And the next peak ahead of us.

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  • 5 Months To $50? XRP’s ‘Alignment’ Has Traders On Edge

    They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

    Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

    Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

    So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

    Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

    Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

    Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

    Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

    So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

    Christian Encila

    Source link

  • Qatar’s Biggest Bank Joins JPMorgan’s Blockchain Payment Network

    Qatar National Bank (QNB) has started using JPMorgan’s Kinexys payments platform for US dollar corporate flows, bringing on-chain settlement to clients in the country. According to JPMorgan, the move went live in March 2025.

    QNB Adopts Kinexys For USD Flows

    Based on reports, the Doha lender will now be able to move US dollar payments around the clock, removing the usual business-hour cutoffs that delay transfers.

    The system operates 24/7 and can settle some transfers in as little as two minutes, a speed level that banks say shortens what used to take days.

     

    For JP Morgan, Kinexys (the unit that grew out of its earlier blockchain work) is being rolled out more widely across the Middle East and North Africa.

    The bank says eight of the region’s largest lenders are now live on the platform, with QNB and Saudi National Bank named among them.

    That wider uptake is being framed as an effort to give corporate treasuries faster, programmable payment options across corridors that previously suffered from timing and liquidity friction.

    What This Means For Clients

    Reports have disclosed that clients can expect fewer reconciliation headaches and a clearer view of funds as they move between accounts.

    Banks on Kinexys can create “programmable” payment flows — for example, payments that trigger only after a condition is met — which can shorten manual steps in trade and treasury operations.

    The platform also claims to preserve full payment amounts until they reach beneficiaries, reducing the chance of unexpected deductions.


    Momentum In The Region

    The QNB announcement follows similar moves by other institutions earlier this year that used Kinexys to expand anytime dollar clearing.

    In March 2025, for instance, India’s Axis Bank began offering 24/7 US dollar clearing with JPMorgan — a sign that banks in different markets are testing the same capability for corporate customers.

    While the speed gains are clear in promotional materials and press coverage, several operational details remain thin in public disclosures.

    Despite that, QNB’s step into Kinexys highlights a shift in regional banking, as Qatar’s biggest bank joins JPMorgan’s blockchain payment network.

    Featured image from Coin-Update, chart from TradingView

    Christian Encila

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  • XRP Price Is ‘Firing On All Cylinders’ As Super Rare Bullish Setup Emerges

    The cryptocurrency market remains in disarray following widespread declines, yet the XRP price continues to attract the attention of analysts who maintain an optimistic outlook. One expert noted that XRP has just printed a rare and bullish setup, with multiple chart indicators aligning in support of upward momentum.

    XRP Price Forms Rare Multi-Layered Bullish Setup

    According to crypto market expert Bobby A, XRP is in a rare market position, consolidating above key historical levels while preparing for a move that could lead to new all-time highs. He noted that different indicators are aligning in support of a possible uptrend.  

    Related Reading

    In a chart shared on X social media, Bobby explained that XRP’s market capitalization has been holding above its 2018 peak for more than 300 days, an uncommon show of strength amid the recent downturn. This long consolidation above a major resistance-turned support level suggests a massive build-up of energy before the next leg higher. He argues that this base formation signals a potentially explosive move to the upside, with the next market cap targets identified at $173 billion and a peak around $727 billion.

    On the price front, Bobby reveals that XRP has been forming a multi-month bullish flag pattern on its charts. He labels the critical support zones as “Base Camp 1” around $1.9 and “Base Camp 2” at $2.89—both of which have been successfully defended. He further highlighted that the monthly Relative Strength Index (RSI) is also positioning itself for one final push toward overbought territory, often a precursor to a sharp upward move. Based on his projections, XRP’s take profit zones sit between $5 and $13, levels that would mark fresh all-time highs.

    Bobby’s analysis highlights that XRP’s indicators are “firing on all cylinders,” with momentum across higher timeframes aligning for a potentially powerful surge. He further pointed out that Bitcoin Dominance (BTC.D), currently at 58.7%, is set to retrace toward the mid-to-low 40% zone soon. Such a move would enable altcoins like XRP to capture a larger market share, thereby reinforcing the likelihood of a bullish breakout. The analyst described this rare alignment as a generational setup that occurs only a few times in a decade.  

    Bearish Divergence Sparks Short-Term XRP Sell-Off

    While XRP appears to be resisting the present market downturn, not all analysts share an immediate bullish sentiment. Crypto expert JD has warned about a Bearish Divergence forming on XRP’s weekly chart—a signal that has now played out as expected. 

    XRP currently trading at $2.77. Chart: TradingView

    As shown in the chart, while XRP’s price made higher highs, the RSI indicator printed lower highs, creating a textbook Bearish Divergence pattern. This divergence has already led to a sharp 27% correction from the $3.37 take profit level that JD had previously identified. According to him, many market participants are now questioning why XRP has been under pressure despite broader optimism. 

    Related Reading

    JD argues that the Bearish Divergence was the clearest warning signal, and those who ignored it are now witnessing its full effect. He cautions that while XRP may still avoid a deeper breakdown into the “grey box” supply zone, the short-term trajectory remains bearish until momentum resets. 

    Featured image from Unsplash, chart from TradingView

    Scott Matherson

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  • Hyperliquid’s Days Numbered? Expert Forecasts ‘Painful Death’

    The road ahead for Hyperliquid does not look so bright. In fact, the decentralized trading platform could face lots of tribulations, “painful” ones, according to an expert.

    Related Reading: Bitmine’s Ethereum Appetite Grows With Fresh $70 Million Buy

    Aster, a new DEX built on the BNB Chain, has grabbed market attention this week after a dramatic price surge and heavy on-chain flows.

    Traders and observers say the token’s spike has shifted capital away from established rivals, while heated commentary from a high-profile trader has added to the drama.

    Aster Surpasses Rivals In Volume And Revenue

    According to on-chain trackers, Aster’s 24-hour perpetual trading volume has climbed into the tens of billions, with figures reported around $23–$30 billion — more than double what Hyperliquid recorded over the same window.

    Reports have disclosed that the DEX is now pulling in roughly $10 million in daily revenue, a figure that some outlets say is about four times Hyperliquid’s daily take.

    Trader Claims And A Public Feud

    Crypto trader James Wynn — a figure known for large leveraged bets and big losses earlier this year — has publicly backed Aster and predicted a long, slow decline for Hyperliquid.

    Wynn’s comments, carried across social channels, have been part boast and part critique of Hyperliquid’s visible order model. He argued that Aster’s hidden-order and MEV-mitigation features make it a safer place for large players.

    Based on reports, Wynn said “Hype will exist, but it will have a slow and painful death,” a line that has amplified the rivalry online.

    Whale Accumulation And Big Withdrawals

    On-chain analytics show major wallets moving into ASTER. Two large buyers are reported to have picked up about 118 million ASTER, valued at roughly $270 million, which is said to represent about 7% of circulating supply.

    HYPEUSD trading at $43.29 on the daily timeframe. Chart: TradingView

    In the same stretch, a cluster of wallets withdrew 68 million ASTER (about $156 million), and one address moved 50 million ASTER from an exchange.

    These flows suggest both aggressive accumulation and repositioning by big holders.

    Aster’s Product Pitch Versus Hyperliquid’s Response

    Reports emphasize Aster’s features: MEV-free execution, hidden orders that keep limit sizes private, and trading interfaces pitched at both retail and pro users.

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    That product story helps explain why some traders are rotating capital. Hyperliquid has not stood still; it has rolled out measures such as a USDH stablecoin and other moves meant to shore up liquidity and product breadth.

    Market data show HYPE has fallen from recent peaks — with declines reported near 25% from its highs — as money rotated into ASTER.

    Featured image from SleepApnea.org, chart from TradingView

    Christian Encila

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  • Ripple CTO Drops Bombshell: XRP At The Core Of Trillions In Banking Future

    According to the Ripple chief technology officer, a number of banks have started to adopt XRP for payments and one planned bank tied to Ripple will run entirely on the XRP Ledger.

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    That claim comes as Ripple seeks a New York banking charter, a Federal Reserve master account, and says it will conform with ISO 20022 messaging standards used by major banks.

    Reports have disclosed that these steps aim to make the token useful for large-scale settlement work.

    Banks Begin Real-World Use

    DBS and Franklin Templeton signed a memorandum of understanding this week to work on tokenized trading and lending products, reports disclosed. Franklin Templeton’s sgBENJI, a US dollar money market fund token, is launching on DBS Digital Exchange.

    Ripple’s RLUSD stablecoin is being used to support trading activity and is reported to be valued at nearly $730 million. DBS is also exploring the acceptance of sgBENJI as repo collateral, which would add liquidity for tokenized assets. Lim Wee Kian of DBS said the move is a step toward offering institutional-grade digital asset services.

    Stablecoins, Custody, And Switching Between Assets

    According to Nigel Khakoo of Ripple, the system makes it easier to move between stablecoins and yield-generating tokens within a single setup. Franklin Templeton said it selected the XRP Ledger for cost and speed reasons, and for its role in scaling tokenized securities.

    Reports also name BNY Mellon as the custodian for reserves backing RLUSD, a detail that underlines the institutional angle Ripple is pushing.

    XRPUSD now trading at $2.97. Chart: TradingView

    Regulatory And Infrastructure Moves

    The token’s momentum follows legal and regulatory shifts in the US after Ripple’s long fight with the SEC. Reports note that more than 20 spot XRP ETFs are under consideration, a factor that could pull large institutional capital into the market.

    The Depository Trust & Clearing Corporation — which handles up to $4 quadrillion in settlements a year — has mentioned tokenization in its planning documents, and researchers point out how tokenized settlement rails might change back-office flows if adopted widely.

    Momentum Meets Caution

    Banks are said to be moving slowly. Early integration tests and compliance checks are still under way. Industry sources say the combination of custody arrangements, stablecoins, and ledger-based settlement could unlock multi-trillion-dollar flows if real-world tokenization proves reliable. But those sources also warn that large-scale adoption will take time and careful risk controls.

    Speculation On Prices

    XRP currently trades around $2.8. Market chatter has heated up since the token rose nearly 600% between November 2024 and January 2025.

    Some analysts forecast a move to $50; others, like Edoardo Farina of Alpha Lions Academy, have floated $100. A handful of commentators discuss targets at $1,000. A small vocal group even claims $10,000 is possible.

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    One community pundit known as Xena said she believes it will reach that level “without a doubt,” a comment that highlights how much optimism lives alongside technical and regulatory progress.

    Featured image from Meta, chart from TradingView

    Christian Encila

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  • As XRP Grabs Headlines, Can Cardano Price Surge Toward $100?

    While tokens like XRP dominate headlines amid rising ETF approval speculations, the Cardano price is also gaining attention as market conditions slowly recover from bearish trends. New data from Changelly, a crypto exchange, has suggested that Cardano could be gearing up for a massive breakout. The big question now is whether the cryptocurrency has the momentum to reach a $100 milestone. 

    Why A $100 Cardano Price Remains A Distant Goal

    Cardano’s price action has generated significant interest in recent months, as analysts from Changelly attempt to project its next big move. According to their forecasts, ADA remains a relatively low-priced cryptocurrency compared to some of its altcoin rivals like XRP, with projections pointing to modest gains in the near term and a potential surge above $100 by 2040. 

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    Changelly’s outlook for 2025 suggests a trading range between $0.77 and $0.97, with the average price stabilizing around $1.17. These numbers highlight a steady upward trend but remain far from the speculative $100 level. Breaking this down further, experts from the crypto platform project that in September 2025, ADA could fluctuate between $0.891 and $0.924, averaging near $0.908. 

    By October 2025, expectations widen slightly, with potential movement between $0.88 and $1.17. November’s outlook places the Cardano price between $0.77 and $1.05, averaging around $0.91, while December 2025 suggests values between $0.807 and $0.87. Taken together, these estimates show that ADA is likely to continue strengthening its price floor while maintaining realistic, incremental growth rather than explosive parabolic moves.

    ADAUSD now trading at $0.89. Chart: TradingView

    From this perspective, a $100 Cardano price seems improbable within the near or mid-term future. However, in the long-term, Changelly predicts that ADA could exceed the $100 target to reach $116.83 by February 2040. The maximum price for that month has also been set at $132.72. 

    Cardano’s Price Action

    While Changelly’s technical analysis provides insight into potential short-term price movements, Cardano’s long-term story is deeply rooted in its fundamentals. At present, the cryptocurrency trades around $0.91 with a circulating supply of over 35.7 billion ADA, giving it a market capitalization of approximately $32 billion. 

    ADA has displayed steady momentum in the last week, climbing 1.48% and nearly 6% over the past month. According to Changelly, this growth signals that Cardano still commands a solid market presence, reinforcing its potential for a breakout soon. Although the cryptocurrency has dipped by over $0.01 in the past 24 hours, Changelly points out that recent trading activity has turned notably bullish for the cryptocurrency.   

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    While Cardano’s strong fundamentals fuel its  expanding ecosystem and steady price recovery, its vast circulating supply makes a potential surge to $100 mathematically challenging. Reaching this level would demand a market cap far exceeding that of Bitcoin at its peak. Still, Changelly notes that ADA is showing great potential lately, suggesting that its current price level could be a good buying opportunity for investors.  

    Featured image from Unsplash, chart from TradingView

    Scott Matherson

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  • Analyst Forecasts XRP To Stage Amazon-Like Rally To $200

    XRP has drawn plenty of comparisons over the past few months, but one analyst believes the best way to understand its future is to look at Amazon’s past. Nick Anderson, better known as BULLRUNNERS on the social media platform X, says XRP is going through the same kind of consolidation Amazon faced in 2010, and it still has the potential to rally to $200. The key difference, however, is the patience investors will need before this rally can happen.

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    Amazon’s Breakout Holds The Clues For XRP

    XRP’s price action in the past seven days has been highlighted by a trading range between $2.8 and $2.9. The cryptocurrency now seems stuck within this range, but it has managed to hold above $2.8 for the meantime. Interestingly, Anderson likened this consolidation move to a similar retest of a previous high by the Amazon stock (AMZN) back in 2010. 

    In his post, Anderson highlighted how Amazon stock spent roughly 3,800 days consolidating after the dot-com crash before finally breaking past its previous high and entering a meteoric run. However, before entering into this meteoric run, it consolidated for a few months in 2010 just after breaking above its previous high during the dot-com bubble. 

    According to Anderson, XRP’s current structure is tracing out a massive cup and handle that mirrors this exact Amazon stock setup, with the cryptocurrency now using past highs as support in the same way Amazon did. Just as Amazon transformed once it cleared resistance, Anderson believes XRP could follow a similar breakout trajectory that could eventually push its price above $100, and possibly as high as $200.

    XRPUSD currently trading at $2.8. Chart: TradingView

    Short-Term Expectations Between $5 And $30

    In his assessment, Anderson noted that this predicted rally to $200 might take many years to come to fruition. Comparing today’s price of around $2.80 to Amazon’s $5 launch point before its monumental rally, this would probably be the best time for XRP investors to accumulate for the long term. For younger investors, holding XRP for the next 10 to 15 years could prove transformative, with as little as 10,000 XRP amounting to $1 million in value if the cryptocurrency eventually climbs to $100.

    Despite his long-term forecast, Anderson is more cautious about what XRP might achieve this cycle. He stated that while a push to $100 in the near term would be “absolutely insane”, a more realistic target for this bull run could lie between $5 and $30. After that, he expects another correction to set in before the rally resumes sometime around the end of the decade. 

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    Anderson also left room for a more explosive scenario, noting that XRP could deliver what he called a “giga rally” if liquidity rushes into the market faster than expected. This is based on the growing anticipation around the adoption of ISO 20022 by the US Federal Reserve.

    At the time of writing, XRP is trading at $2.81.

    Featured image from Unsplash, chart from TradingView

    Scott Matherson

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  • Bitcoin Hits 7-Week Low As $540-M In Trades Wiped Out

    Bitcoin fell to its lowest levels since July 8 after Wall Street opened on Friday, with prices sliding and traders scrambling to reassess short-term plans.

    According to CoinGlass, 24-hour crypto liquidations neared $540 million as selling pressure intensified on major exchanges.

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    Whales And Exchange Distribution Pressure

    Based on reports from market watchers, heavy selling by large holders helped push the drop. Distribution on Binance was highlighted by traders as a key factor that worsened losses.

    Bitcoin lost nearly 5% on the day, and some large accounts were linked to the wave of sales that triggered stop orders and quick exits.

    Source: Coinglass

    Popular trader Daan Crypto Trades pointed to a “key reversal zone” around recent ranges and consolidation levels.

    Some experts had similar price levels on his radar, noting that Bitcoin failed to turn $112,000 into support. Other voices in the market flagged $114,000 as an important weekly close threshold for bulls.

    Source: Coinglass

    Bullish RSI Divergence Keeps A Sliver Of Hope

    Technical watchers found one bright spot. According to crypto commentator Javon Marks, the four-hour chart still shows a bullish RSI divergence — a pattern where the RSI makes higher lows while price makes lower lows. That setup can hint at an early reversal.

    Marks argued Bitcoin could stage a rebound. He suggested a move back toward $123,000 is possible, which would be roughly a +14% jump from current levels. That projection is optimistic, and it rests on momentum flipping quickly in favor of buyers.

    Macro Data, Seasonal Weakness Add Headwinds

    Seasonality and macroeconomic data added pressure. September has historically been one of Bitcoin’s weaker months, and investors were watching US inflation readings closely.

    BTCUSD now trading at $108,226. Chart: TradingView

    The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures index, matched expectations and showed signs of an inflation rebound.

    Still, the CME Group’s FedWatch Tool showed markets pricing in rate cuts in September, a factor that could help risk assets like crypto if it holds.

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    Range Bound For Now, Traders Watch $112,000–$114,000

    Reports have disclosed that traders are focused on a narrow set of price markers. If Bitcoin can reclaim $112,000 and hold a weekly close above $114,000, bulls would gain breathing room.

    If those levels fail, more downside is possible and short-term traders could face further liquidations.

    For now, the market looks tight. Some technical signals point to a rebound, but macro data and big sellers are keeping the mood cautious.

    Traders and investors alike are watching both price action and economic prints closely as the US heads toward key data and the Fed decision window on Sept. 17.

    Featured image from Unsplash, chart from TradingView

    Christian Encila

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  • Analyst Sounds The Alarm—Bitcoin Could Slide Toward $88K

    Bitcoin’s recovery attempt is drawing attention after a week of steady losses, with one market watcher warning of a deeper fall if the coin fails to push past the $120,000 region.

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    The price of the world’s biggest cryptocurrency has already slipped by over 7% since touching $124,450 last week, raising doubts about the strength of its next move.

    Wave Structure Signals Critical Stage

    According to technical analyst CasiTrades, Bitcoin touched a low of $112,500 earlier today, a level that aligned with multiple timeframe targets.

    The move also came with bullish divergences on momentum indicators, which pointed to a short-term rebound. The analyst framed this drop as part of a corrective pattern, calling it Wave 1 of an A-wave.

    The next stage, labeled Wave 2, is expected to deliver a relief bounce. CasiTrades suggested that this move could carry Bitcoin back into the $119,900 to $121,900 zone.

    If rejection happens there, the decline could intensify into Wave 3, with possible downside reaching as far as $88,000.

    Reports explained that the bearish scenario would be invalidated if Bitcoin could print a new all-time high beyond $124,500. That would necessitate a reset in the corrective setup, which would have bulls with more leverage in the short term.

    Altcoins Show Signs Of Rotation

    As Bitcoin struggles with resistance, bigger-cap altcoins have been exhibiting mixed action. CasiTrades thinks that traders may move into these assets in Bitcoin’s downtime, anticipating that they will make more considerable movements in the meantime.

    BTCUSD now trading at $113,489. Chart: TradingView

    XRP, which dropped to $2.85 earlier in the day, has rebounded slightly and now trades at $2.90. That still leaves it down 1.30% over the last 24 hours. Ethereum is faring better, gaining 1.8% to trade at $4,269, while Solana added 2.5% to reach $183.

    Market watchers say this kind of rotation is not unusual. When Bitcoin stalls at major resistance levels, traders often chase higher returns in altcoins that carry more volatility.

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    Uncertainty Ahead For Traders

    The focus remains squarely on the $120K–$122K area. A clean breakout would indicate that Bitcoin is gaining strength again, while rejection would validate CasiTrades’ expectation of a greater fall.

    They are now considering those possibilities, with some waiting to build up on dips and others opting to remain in wait-and-see mode until the picture becomes clearer.

    For the time being, the market is divided between anticipation of a rebound and fear of further correction. Altcoins are showing some relief with isolated areas of green, but the response of Bitcoin at resistance will tend to dictate the tone for the next few days.

    Featured image from Unsplash, chart from TradingView

    Christian Encila

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  • SUI Climbs 36% Amid Bullish Breakout – Is $1.50 The Next Target?

    SUI Climbs 36% Amid Bullish Breakout – Is $1.50 The Next Target?

    They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

    Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

    Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

    So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

    Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

    Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

    Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

    Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

    So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

    Christian Encila

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  • Bitcoin (BTC) Millionaires Increased by 110% in 1 Year Amid Market Surge

    Bitcoin (BTC) Millionaires Increased by 110% in 1 Year Amid Market Surge

    According to the Crypto Wealth Report 2024 by Henley & Partners, the number of individuals holding over $1 million in digital assets has soared by 95% to 172,300.

    This comes amidst a growth in the crypto market, which has seen its total value rise to $2.3 trillion, marking an 89% increase from the previous year’s valuation of $1.2 trillion.

    Bitcoin Millionaires Rise 111%

    The report revealed that the number of Bitcoin (BTC) millionaires has grown by 111% to 85,400. The number one cryptocurrency has seen notable advancements this year, including its price reaching an all-time high of over $73,000 in March and the approval of spot Bitcoin ETFs in the U.S.

    The Henley & Partners survey also highlighted expansion at the upper echelons of wealth. The number of crypto centi-millionaires, those with digital assets exceeding $100 million, has gone up by 79% to 325. Meanwhile, the ranks of virtual currency billionaires have also seen a 27% uptick, totaling 28 globally.

    Interestingly, Andrew Amoils, Head of Research at New World Wealth, notes that the growth among millionaires has outpaced those with 10-figure fortunes and above, with BTC being a major driver of this trend. “Among the six new crypto billionaires created in the past year, five are Bitcoin-centric,” he explained.

    Amidst this increasing wealth, investment migration has become more relevant. Henley & Partners’ updated virtual asset adoption index revealed that Singapore remains the top destination for investors, scoring 45.7 out of 60.

    Hong Kong and the UAE follow closely, both offering favorable conditions such as tax advantages and advanced digital economies.

    Global Finance Shift

    The report also featured opinions from several experts, with the major theme running through their views being a global financial shift occasioned by virtual currency.

    António Henriques, CEO of Bison Bank, emphasized the transformative effect of such assets on global finance, stating, “We are entering a new era where digital assets are challenging the dominance of traditional fiat currencies.”

    Coinshare co-founder Jean-Marie Mognetti supported Henriques’ view, noting that the SEC’s approval of spot Bitcoin ETFs is facilitating broader institutional engagement.

    Furthermore, Henry Burrows, the top executive at Hoptrail, highlighted a shift in wealth generation, observing that contemporary wealth is increasingly coming from virtual assets rather than traditional investments.

    Another financial expert, Lark Davis, founder of Wealth Mastery, spoke of Ethereum’s pivotal role in the sector, while Guneet Kaur of Cointelegraph pointed out the growing importance of stablecoins as a reliable investment during market fluctuations.

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  • SUI Crashes 23% As September Unleashes Market Panic

    SUI Crashes 23% As September Unleashes Market Panic


    Este artículo también está disponible en español.

    With the market at an extremely volatile position, SUI bears pushed their advantage forcing losses on the token’s holders. Despite strong developments on-chain, SUI still flashed red with over a whopping 23% losses since last week. 

    On-chain, SUI continues to solidify its position in the world of DeFi. However, with the market’s sway on the token, its short-term performance might be clouded by the fear, uncertainty, and doubt present in the market. 

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    NFTs And Gaming Fuel Sui Development 

    DARKTIMES, an MMORPG game built on Sui, has announced that it will launch the game’s Alpha state will release later this year. The game has been in stealth development since 2021 according to the founder and CEO of DARKTIMES, Lucien Dormann, in an interview. Users will catch the playtest of the game at Korea Blockchain Week which will occur September 3-4 this week. 

    This development came hand in hand with the recent announcement that SuiPlay OX1, the platform’s handheld gaming console, will officially be open to pre-order in the next ten hours. No spec sheet has been released yet, but the console will be available in 2025. 

    In the realm of NFTs, the platform has been chosen by Artifi, an art investment company, which is “to turn high-end art into another asset class that’s accessible to the masses.” 

    The resurgence of NFTs on Sui came despite the asset class being under the scrutiny of the Securities and Exchange Commission (SEC) which alleged that NFTs are securities and is willing to bring the regulatory hammer down on Opensea. How will this affect the future of NFTs and NFT-based developments on Sui in the long term remains to be seen. 

    SUI market cap currently at $2.083 billion. Chart: TradingView

    SUI To Return To Manageable Levels After Market Pressure

    Despite the overall bearishness plaguing the broader market, investors and traders should remain optimistic. SUI is currently trading right between the $0.71-$0.79 trading range which lies well on the 61.80% level of the Fibonacci retracement tool, marking the significance of the range when it comes to the long-term performance of the token. 

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    The token’s relative strength index (RSI) still signals that the bears overwhelm the market. However, SUI’s return to this level remains a bullish signal as the 61.80% level will provide the bulls with a strong support level to aid future price movement. 

    SUI’s strong correlation with major cryptocurrencies like Bitcoin and Ethereum will give the token the momentum it needs to recover in the medium term; that is if market sentiment flips to bullish within this timeframe. If the token stabilizes in its current trading range, SUI bulls should have the opportunity to retest and potentially break $0.96 in the long term. 

    Featured image from Chainwire, chart from TradingView

    Christian Encila

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