Author: Benjamin Lee
A widely followed cryptocurrency analyst and trader is saying that an altcoin in the Solana (SOL) ecosystem is at a critical juncture. The analyst pseudonymously known as Sherpa tells his 234,700 followers on the social media platform X that the memecoin Popcat (POPCAT) is at a “do-or-die” level. Based on Sherpa’s POPCAT chart, it appears that the Solana-based memecoin has formed a head and shoulders pattern on the daily time frame and could plunge if the support level fails to hold. A head and shoulders pattern is typically considered a bearish pattern in technical analysis. Source: Sherpa/X POPCAT is trading…
A decentralized real estate trading platform built on smart contract platform Solana (SOL) saw its price rise and dip after gaining support from Coinbase. Two days ago on the social media platform X, the top US-based crypto exchange platform said it had added Parcl (PARCL), a decentralized exchange (DEX) that lets users trade and invest in real estate using synthetic assets without the need to physically own any property. Synthetic assets are tokenized, blockchain-based representations of real-world assets, such as securities and real property that can easily be swapped. News of the addition caused the token to dip in price…
A lucky crypto trader scored a gigantic return after investing early in the new native asset of a non-fungible token (NFT) project built on Solana (SOL). The market analytics platform Arkham Intelligence notes that someone bought only $6 worth of PENGU, the new utility token for the NFT project Pudgy Penguins, then added it to the Solana-based decentralized exchange (DEX) Raydium (RAY) paired with $1100 worth of SOL. Explains Arkham, “Multiple users trying to snipe PENGU’s launch swapped into his pool, and bought tokens at highly unfavorable prices – earning him a profit of $87,000 in SOL and PENGU from…
A popular crypto analyst thinks that Ethereum (ETH) is on the verge of printing a massive breakout rally also known as a god candle. Pseudonymous analyst Inmortal tells his 221,100 followers on the social media platform X that Ethereum’s two-hour chart looks similar to Bitcoin’s (BTC) price action over the last two weeks. The analyst says that while Ethereum struggles to clear resistance at $4,000, he notes that BTC also had trouble breaching $100,000 for weeks before surging to new all-time highs. “Same price action, but with one difference. God candle after the breakout. ETH.” Source: Inmortal/X Based on the…
Crypto exchange Coinbase has cited risks linked to Tron-founder Justin Sun during a lawsuit over its delisting of Wrapped Bitcoin (wBTC). In a recent complaint, the wBTC custodian and Sun-affiliated BiT Global accused Coinbase of using wBTC – the tokenized representation of Bitcoin (BTC) on the Ethereum (ETH) blockchain – as a “cash grab” before delisting it and replacing it with its own version of the asset. Said the complaint, “In the case of wrapped Bitcoin, Coinbase viewed it as just another cash grab. It saw a competitor, wBTC, that had something it wanted: an innovative product that released value inherent…
The chief executive of stablecoin issuer Circle says that dollar-pegged digital assets should become a mass export product of the United States. In a new interview on CNBC Television, Circle CEO Jeremy Allaire says that the US should promote “full reserve digital dollars” as a means of preserving the value of the US dollar. Allaire also says the US’ fiscal situation is “not in order” – something that could also be aided by a transparent digital dollar system. “First and foremost, we have to focus on the strength and competitiveness of the dollar first. We have a situation in the…
Ethena Labs (ENA), a synthetic dollar protocol backed by BitMEX founder Arthur Hayes, is announcing a partnership with President-elect Donald Trump’s decentralized finance (DeFi) project. In a new announcement on the social media platform X, Ethena Labs says it has entered into a strategic partnership with World Liberty Financial (WLFI). According to Ethena Labs, the collaboration will bring over Ethena Staked USDe (sUSDe) – a yield-bearing token that inventors can stake – to the DeFi platform. “A governance proposal has been submitted to add sUSDe to WLFI’s upcoming Aave instance as a core collateral asset, Should it pass, this proposal will…
A widely followed crypto trader says one decentralized oracle service project may one day overtake its rival Chainlink (LINK). In a new video update, Guy Turner, the host of CoinBureau, tells his 2.57 million YouTube subscribers that the market cap for Pyth Network (PYTH) may eventually soar due to its potential to generate massive fee revenue. “In my opinion, Pyth Network is one of the most underrated cryptos there is. That’s because it’s an oracle that provides high-frequency data feeds that blockchains like Solana depend on. In other words, Pyth Network is like Chainlink, and some would argue that it’s…
Bloomberg exchange-traded fund (ETF) analyst Eric Balchunas says that 2025 will likely see many new digital asset ETFs be approved. In a post on the social media platform X, Balchunas says that he’s anticipating a “wave” of new crypto ETFs next year, potentially in a particular order. Says Balchunas “We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the BTC + ETH combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending lawsuits).”…
Crypto.com CEO Kris Marszalek has met with US President-elect Donald Trump to discuss the future of the industry ahead of the new administration’s entry into the White House. According to a new Bloomberg report, Marszalek and Trump recently met at Mar-a-Lago to discuss the possibility of a national Bitcoin (BTC) reserve, among other things. The exchange’s native token Cronos (CRO) shot up over 25% as news of the CEO’s meeting with Trump. Says a Crypto.com representative of the meeting, “We look forward to working with the new administration to develop and advance clear regulations for the crypto industry so the…