Author: Benjamin Lee
A popular analyst says crypto market participants are overlooking a payments-focused altcoin that has been performing well over the past few months. The crypto strategist pseudonymously known as Altcoin Sherpa tells his 236,400 followers on the social media platform X that he believes XRP will print record highs before the market cycle comes to a close. But for now, the trader uses Fibonacci retracement levels to map out a decent support area for XRP bulls. “XRP will continue to be under-owned and slept on by crypto natives. I still think $2 is a reasonable buy and that this will break…
A co-founder of Ethereum (ETH) rival Solana (SOL) is reportedly facing a lawsuit for allegedly misappropriating the income earned from his former wife’s crypto holdings. Bloomberg reports that Elisa Rossi has filed a complaint with the San Francisco Superior Court accusing her ex-husband Stephen Akridge of stealing millions of dollars worth of staking rewards gained from her Solana tokens. Staking rewards are similar to interest earned from a bank deposit. Crypto holders who participate in the staking process lock their assets for a certain period to validate blockchain transactions and earn more tokens as a reward. The complaint says the…
A closely followed crypto analyst is predicting where the price of Bitcoin (BTC) and Solana (SOL) will peak during the current market cycle. In a new video update, the host of InvestAnswers tells his 552,000 YouTube subscribers that he’s expecting the top crypto asset by market cap to soar by at least 43% from current levels before the bull market expires. “I’ve upped my Bitcoin price target to $136,000 from $120,000 with a super bull target of $154,000… Bitcoin is a peculiar animal – it’s all based on demand and supply. If the demand continues as it does, yes, these…
Macro guru Raoul Pal says that despite XRP looking very strong, one Solana (SOL) killer is set to outperform it. In a new strategy session, Pal takes a look at Sui against XRP (SUI/XRP) and suggests that the trading pair is in a long-term ascending channel and has already touched the bottom range, implying that a move to the upper level is now in play. “Another interesting chart that I quite like is XRP [which] has been super strong, but really, what we’ve seen is the upward trend of SUI outperformance. We hit the bottom of the trend channel and…
A popular crypto analyst says one technical signal suggests that top meme token Dogecoin (DOGE) could be primed for a bounce. Ali Martinez tells his 104,600 followers on the social media platform X that the Tom DeMark (TD) Sequential Indicator presented a bullish signal for DOGE. “The TD Sequential presents a buy signal on the Dogecoin DOGE four-hour chart, anticipating a price rebound!” Source: Ali Martinez/X Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. Martinez also notes that Dogecoin whales bought more than…
Analytics firm Glassnode says Solana’s (SOL) momentum on the monthly time frame is waning in comparison to Bitcoin (BTC) and Ethereum (ETH). On the social media platform X, Glassnode examines the Realized Cap metric, which records the price at which each coin was last moved and aims to gauge how many holders are in profit or at a loss. The firm points out the monthly percent change in realized cap for each of the three assets. “This metric acts as an indicator of the rate and direction of capital inflows or outflows for these assets. During the recent market downtrend,…
The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) continues to clock more development activity than any other non-fungible token (NFT) project, according to the crypto analytics firm Santiment. Santiment notes on the social media platform X that Decentraland registered 116.27 notable GitHub events in the past 30 days. Decentraland also led the rankings in November, October, and September. Flow (FLOW), a layer-1 permissionless blockchain, ranked second with 103.87 events, while the NFT layer-2 scaling solution Immutable X (IMX) ranked a distant third with 31.43. Source: Santiment Santiment notes that it does not count routine updates and utilizes a “better methodology”…
A crypto exchange token is defying this week’s marketwide downtrend, skyrocketing by nearly 30%. The Bitget Token (BGB) is trading at $7.37 at time of writing and is up nearly 28% in the past 24 hours and more than 70% in the past week. BGB’s gains partially materialized amid news that Bitget plans to merge the token with its other native asset, the Bitget Wallet Token (BWB). BWB, the 638th-ranked crypto asset by market cap, is down more than 4% in the past day but up nearly 45% in the past week. Bitget’s merger will unify both tokens under the…
Disgraced Terra (LUNA) founder Do Kwon is reportedly going to be extradited to the US after losing an appeal in a Montenegrin high court. According to a new report by France 24, Kwon – the person suspected of being behind the multibillion-dollar downfall of the Terra ecosystem in 2022 – had his appeal thrown out by the Montenegrin Constitutional Court, which earlier in the year ruled that the conditions for his extradition have been met. However, Justice Minister Bojan Bozovic still had to decide whether to extradite Kwon to the US or South Korea, both of which have pending charges…
A widely followed crypto analyst is issuing a warning about one red-hot utility altcoin, saying it could be in for a slow bleed to the downside. Pseudonymous crypto trader Bluntz tells his 305,200 followers on social media platform X that HYPE, the native altcoin of decentralized perpetual trading platform and layer-1 blockchain Hyperliquid, may be due for a significant correction. According to Bluntz, who applies the Elliott Wave theory in his technical analysis, HYPE appears to have completed a five-wave rally and now looks as if it is entering an ABC corrective wave that may last into early next year.…