Author: Benjamin Lee
A widely followed crypto analyst is leaning bullish on altcoins as Bitcoin (BTC) hovers below the $100,000 psychological level. In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells his 236,200 followers on the social media platform X that altcoins are due to explode over the coming weeks. According to Sherpa, one catalyst that will drive the altcoin rally is the fact that many of them have been capitulating for a long time. “Coins like [privacy-focused] Oasis (ROSE) chopped around for YEARS and are still consolidating. Hard to think these won’t fully send.” Source: Altcoin Sherpa/X Sherpa further says…
The development team behind dog-themed meme asset Floki (FLOKI) is announcing a plan to launch a new exchange-traded product (ETP). In a new thread on the social media platform X, the project says it has been working closely with a respected asset manager to create a FLOKI-based ETP for European inventors, set to launch in Q1 of next year. “We’ve been actively working with a respected asset manager and an ETP issuer to launch a Floki ETP for quite a while now. After months of due diligence and painstaking effort, we’ve been told that the Floki ETP is on track…
Crypto investors were heavily drawn to meme assets in 2024, according to a new study. In a research paper, CoinGecko says that the majority of crypto interest in 2024 hit the memecoin sector, which saw an expansion from dog-themed tokens to other animal and personality-themed digital assets. “The most popular crypto narrative in 2024 was by far the memecoin narrative, which captured a combined 30.67% of global investor interest across the main memecoin narrative and 25 memecoin trends. In other words, almost a third of crypto narrative interest this year was focused on more speculative opportunities with less emphasis on…
The co-founder of Animoca Brands, a leading firm in the blockchain gaming space, had their X social media account hacked and used to promote a fake Solana (SOL) token. In a new thread on the social media platform X, Animoca Brands – known for creating metaverse game The Sandbox (SAND) – says that founder and chairman Yat Siu’s X account was taken over by bad actors and used to endorse a fake token launch on Solana. “Unfortunately Yat Siu’s social media account has been compromised. There is no official token or NFT (non-fungible token) launch from Animoca Brands. The token…
A significant portion of the population in South Korea is reportedly investing in crypto. Citing new central bank data provided by the office of Democratic Party Rep. Lim Kwang-hyun, Yonhap News Agency reports the number of people who hold crypto in South Korean exchanges exceeded 15.59 million in November, up by 610,000 from 14.98 million in October. The figures, based on the number of investors who have accounts in the five leading domestic exchanges, including Upbit, Bithumb, Coin One, Cobit, and Gopax, represent more than 30% of the estimated 51.23 million people who live in the East Asian nation. The…
A widely followed cryptocurrency trader says a top utility altcoin may be ready to rise. The analyst pseudonymously known as Bluntz tells his 305,200 followers on social media platform X that the decentralized oracle project Chainlink (LINK) is forming a bullish reversal pattern on the hourly chart, reminiscent of a Bitcoin move in 2019 when BTC broke through resistance at $4,220. “These bottom structures are definitely some of my favorites to trade; BTC 2019 bottom for reference.” Source: Bluntz/X He says that LINK may be forming a bullish Adam and Eve pattern, which indicates an asset is threatening to take out…
A widely followed cryptocurrency analyst and trader is leaning bullish on XRP. The analyst pseudonymously known as CredibleCrypto tells his 450,200 followers on the social media platform X that paired against Bitcoin (BTC), XRP “looks absolutely fantastic.” The trader says he plans to enter a long position in the coming days. Based on the analyst’s chart on the one-hour time frame, it appears he is suggesting that XRP could first trend downwards before skyrocketing by at least 65%. It also appears that the analyst believes XRP has formed an inverse head-and-shoulders pattern in the same time frame. An inverse head-and-shoulders…
Economist Henrik Zeberg is turning bullish on one Ethereum (ETH) rival while predicting a broader altcoin market breakout. Zeberg tells his 171,400 followers on the social media platform X that Solana (SOL) may be about to surge after a retracement. The analyst uses the Elliott Wave theory to forecast a massive run for Solana. The theory states that an asset tends to witness a five-wave rally with wave three being the longest and the strongest move up. “Altseason has begun and is now about to move into its most explosive phase. Solana has been leading after a strong wave two…
A closely followed crypto analyst believes top memecoin Dogecoin (DOGE) is gearing up to unleash another parabolic rally. Crypto strategist Ali Martinez tells his 103,200 followers on the social media platform X that Dogecoin may be following in the footsteps of its 2017 and 2021 market cycles when the memecoin ignited a meteoric ascent after witnessing a severe correction. “In 2017, when Dogecoin began a parabolic run, it surged 212%, retraced 40%, then rallied 5,000%. In 2021, it went up 476%, retraced 56%, then skyrocketed 12,000%. Now, in 2024, DOGE is up 440% and has retraced by 46%. If history…
A whale has been spotted aggressively accumulating LINK, the native token of the decentralized oracle network Chainlink, according to blockchain tracking firm Lookonchain. Lookonchain reports that a whale suddenly created 30 new wallets to accumulate $34.1 million worth of LINK tokens from Binance. “Suspicious LINK accumulation spotted! Over the past 5 days, 30 newly created wallets have withdrawn 1.37M LINK ($34.1M) from Binance.” Source: Lookonchain/X At time of writing, Chainlink is trading at $24.04, up 34% in the last month. Earlier this week, Chainlink released Smart Value Recapture (SVR), a solution aiming to allow DeFi solutions to recapture non-toxic Maximal…