Over the weekend, crypto whales made their presence felt, accumulating millions of dollars worth of digital assets from Binance, the largest crypto exchange by volume. Whale Withdrawals According to blockchain tracking firm Lookonchain, whales withdrew significant amounts of the following altcoins from Binance on Saturday: Chainlink (LINK) Pepe (PEPE) Uniswap (UNI) Maker (MKR) Ethereum Name…
Crypto analysts are bullish on the future of ENA, an Ethereum-based decentralized finance (DeFi) token. ENA: Patience Pays Off Pseudonymous trader The Flow Horse believes ENA is poised for a significant rally. He notes that the token’s governance token has been undergoing a pullback, similar to other new altcoins. However, he sees a “reliable diagonal…
Historical Price Pattern Bitcoin’s price is following a similar pattern to its bull cycle from eight years ago. This could indicate significant growth ahead. Post-Halving “Danger Zone” Bitcoin is currently in a “Danger Zone” similar to 2016. It has dipped below the Re-Accumulation Range Low, but the divergence is less severe than in 2016. Potential…
Declining Exchange Inflows Data shows that Bitcoin exchange inflows, the amount of Bitcoin deposited into centralized exchange wallets, have been at their lowest in almost a decade. This suggests that investors are less inclined to sell their coins. Supply-Demand Dynamics When exchange inflows are low, it means that the supply of Bitcoin available for sale…
Rally’s Foundation Dogecoin has embarked on a bullish rally that’s expected to drive its price higher. This rally is supported by: Strong support above $0.1, preventing price crashes A prolonged correction period Rally’s Timeline The rally began in October 2023 when Dogecoin broke above $0.06. It has since experienced both uptrends and downtrends, leading to…
Digital Bond Revolution KfW, a German state-owned bank, is set to release its first blockchain-based digital bond. This move marks a major step towards embracing crypto technology in finance. Streamlined Process KfW believes that blockchain can improve efficiency and scalability in bond issuance. They’ll hold discussions with investors to explain the new offering. Anchor Investor…
Introduction Charles Hoskinson, the founder of Cardano, has hinted at a possible partnership with Bitcoin Cash. This move could have significant implications for both networks. Benefits for Bitcoin Cash Hoskinson believes that a partnership would upgrade Bitcoin Cash with: Faster transaction processing More efficient smart contract functionality Enhanced scalability Synergies Between Chains Ben Scherrey, founder…
Declining Network Activity Dampens ETH Burn Ethereum’s burn rate has hit a yearly low in April due to a drop in network transaction fees. This means fewer ETH coins are being destroyed, which could impact Ethereum’s deflationary model. Layer 2 Solutions and Innovations Lower Gas Fees The migration of network activity to Layer 2 solutions…
Token Distribution Sui Network has responded to concerns about the distribution of its SUI tokens. The network states that locked SUI tokens are held by third-party custodians and cannot be moved until they are unlocked according to the project’s token emission schedule. Mysten Labs, the developer behind Sui, is not involved in the Sui Foundation’s…
Crypto analyst Rekt Capital predicts a bullish future for altcoins, with Dogecoin (DOGE) leading the charge. Altcoin Market Outlook The analyst’s “OTHERS” chart, which tracks all cryptocurrencies excluding the top 10, suggests a potential bounce off the $250 billion support level. The next target is $315 billion, with a potential rally to $425 billion. Dogecoin…
