Author: Benjamin Lee
The co-founders of the crypto analytics firm Glassnode are outlining two key conditions that could spark altcoin rallies just in time for Christmas. Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,300 followers that altcoins could be on the verge of outperforming Bitcoin (BTC) in the next two weeks. The Glassnode co-founders are looking at the Bitcoin Dominance (BTC.D) chart, which tracks the percentage of the total crypto market cap that belongs to Bitcoin. The duo shares a chart suggesting that BTC.D has flipped bearish, opening the doors for…
Asset management giant VanEck is predicting a large surge in decentralized finance (DeFi) trading volumes next year. In a new report detailing its predictions for 2025, VanEck analysts say decentralized exchange (DEX) volumes will capture a fifth of centralized exchange (CEX) spot trading volumes. “Despite record-high decentralized exchange (DEX) trading volumes, both in absolute terms and relative to centralized exchanges (CEXs), decentralized finance (DeFi) total value locked (TVL) remains 24% below its peak. We anticipate that DEX trading volumes will surpass $4 trillion in 2025, capturing 20% of CEX spot trading volumes, driven by the proliferation of AI (artificial intelligence)-related…
A popular crypto analyst has issued a warning about Aave (AAVE), a top decentralized lending protocol built on Ethereum (ETH). The trader Ali Martinez tells his 98,500 followers on the social media platform X that social volume and positive sentiment around Aave’s native token are skyrocketing. “With the crowd’s growing focus on AAVE, a brief pullback might be on the horizon, as markets often move against popular sentiment.” Source: Ali Martinez/X AAVE, the 34th-ranked crypto asset by market cap, is trading at $384.85 at time of writing. Turning to Litecoin, Martinez says that LTC is “irrelevant, both fundamentally and technically.”…
New data from market intelligence platform Santiment reveals that Chainlink (LINK) is leading the real-world assets (RWA) sector in terms of recent development activity. In a new post on the social media platform X, Santiment says the nascent sector is being led by the decentralized oracle network followed by Ethereum (ETH)-based synthetic asset creator Synthetix (SNX) and privacy-focused tokenization project Dusk Foundation (DUSK). According to the data, Chainlink had nearly 394 notable GitHub events during the past 30 days while Synthetix and Dusk Foundation clocked in with 176.6 and 34.7, respectively. Other notable digital assets on the list include Polymesh…
Top US crypto exchange Coinbase has added support for three additional digital assets, including memecoin Gigachad (GIGA). Solana (SOL)-based GIGA, a crypto asset inspired by the photo shoot of Russian bodybuilder Ernest Khalimov, is up more than 39% from its $0.04911 low on Tuesday, the day it was listed on Coinbase. GIGA is trading for $0.06844 at time of writing. With a market cap of $657.9 million, Gigachad is the 183rd largest crypto project. Coinbase also added support for Magic Eden (ME) on the Solana network, a utility token for the Magic Eden non-fungible token (NFT) marketplace. Users can list…
New data from market intelligence firm Glassnode reveals that decentralized oracle network Chainlink (LINK) is gaining on-chain momentum as its price rises. In a new thread on the social media platform X, Glassnode says that LINK’s fundamentals are improving along with its active address momentum and rising price tag. “While LINK’s price surge was clearly driven by speculative and short-term market activity, its fundamentals are improving too. Active addresses momentum is trending higher, with the short-term SMA (simple moving average) of 6,682 still above the long-term SMA of 5,878. That said, active addresses remain far below their 2021 peak of…
Solana (SOL) was the top ecosystem choice this year for new developers, according to a recent report. Researchers at the venture firm Electric Capital note that 39,148 new developers explored the crypto space in 2024. The firm also says that 2024 was the first year since 2016 that any ecosystem besides Ethereum (ETH) ranked first among the new developer cohort, with 7,625 new devs choosing Solana, compared to 6,456 for Ethereum. Solana also leads in terms of decentralized exchange (DEX) usage, capturing 81% of DEX transactions and ranking the highest in terms of the number of unique trading wallets. Base,…
A closely followed crypto analyst believes that the altcoin market is entering an uptrend after bottoming out. In a new strategy session, crypto trader Michaël van de Poppe tells his 751,700 followers on the social media platform X that the price action of the OTHERS chart may be printing a bullish pattern on the weekly timeframe. The OTHERS chart, which is often used to gauge the altcoin market strength, tracks the market capitalization of all crypto assets excluding the 10 largest coins and stablecoins. “The altcoin market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong…
Crypto giant Grayscale has launched two new trusts that offer investors exposure to liquid staking service Lido DAO (LDO) and scaling solution Optimism (OP). The new trusts add to the crypto firm’s more than 25 existing digital asset products. Rayhaneh Sharif-Askary, Grayscale’s head of product and research, praises the two altcoin projects for the benefits they bring to the Ethereum (ETH) ecosystem. “Lido is helping to democratize staking on Ethereum, and Optimism is critical in allowing Ethereum to scale to compete with newer, faster layer-1 blockchains. Grayscale Lido DAO Trust and Grayscale Optimism Trust provide investors with exposure to protocols…
A widely followed crypto analyst says that Bitcoin’s (BTC) still has upward momentum while updating his outlook on payments network Stellar (XLM). In a new thread on the social media platform X, pseudonymous crypto strategist Rekt Capital tells his 519,600 followers that it appears as if the top crypto asset by market cap’s technical uptrend will remain in place. “Bitcoin continues to hold its four-week technical uptrend line as support Bitcoin would likely need to lose this uptrend line if a deeper correction is to take place from these levels. So far, the technical uptrend remains intact.” Source: Rekt Capital/X…