Ethereum gas fees have plunged to their lowest level in over two years, making it much cheaper to use the network. Dencun Upgrade Reduces Fees The Dencun upgrade has optimized network usage, leading to a significant drop in transaction fees. Asset swaps, cross-chain bridging, and NFT minting are now much more affordable. Impact on Ethereum’s…
Ethereum’s Recent Struggles Ethereum has been struggling to recover its momentum from early 2024, hovering around $3,000. However, one trader believes that the coin’s current dip is a buying opportunity. Reasons for the Bearish Sentiment Sharp losses in mid-April Rejection from $2,800 Concerns about Bitcoin’s layer-2 ecosystems Potential SEC classification as a security Competition from…
BlockFi, a crypto lending platform, has closed its website and chosen Coinbase as its partner for customer fund withdrawals. Coinbase as Exclusive Partner Eligible BlockFi customers can withdraw their crypto through Coinbase after April 28, 2024. Those who missed the deadline or didn’t verify their identity by May 10, 2023, can still withdraw their assets…
Crypto analyst Justin Bennett warns that Bitcoin (BTC) could face a steep decline if it fails to hold support at $61,000. He believes that a break below this level could keep BTC in a downtrend for some time. On the other hand, if BTC can rally above $65,000 on the monthly chart, it would signal…
A crypto trader has made an astonishing 86,000% profit on an Ethereum-based memecoin investment. Investment Details According to blockchain tracker Lookonchain, the trader purchased $6,500 worth of the MAGA (TRUMP) memecoin in late 2023. Today, that investment is worth a staggering $5.6 million. Trump’s Pro-Crypto Remarks The sudden surge in value coincides with former US…
Analyst’s Outlook Benjamin Cowen, a renowned crypto analyst, believes that Bitcoin (BTC) could be nearing its bottom. He draws comparisons to the market’s behavior after the 2016 halving event, which occurred eight years ago. Historical Precedent According to Cowen, the current price action resembles that of 2016 more closely than the 2020 halving. This suggests…
A popular crypto analyst, Altcoin Sherpa, believes that Bitcoin’s bull run is not over and predicts a surge to $100,000 by the fourth quarter of 2024. Potential Roadblocks However, Sherpa warns of potential bear cases that could cause a 35% drop in Bitcoin’s value before the rally. He suggests that a move to $50,000 could…
Negative NUPL Signal: A Warning Sign Bitcoin’s short-term holders are showing signs of fear, as their Net Unrealized Profit/Loss (NUPL) has turned negative. This suggests that they’re currently losing money on their investments. Potential Price Drop on the Horizon? This trend could lead to a wave of sell-offs, as investors fear further price declines. However,…
Bitcoin’s Bearish Outlook Market analyst Michael Van De Poppe warns of a potential dip in Bitcoin’s price to $52,000. He believes Bitcoin is at a crucial level and needs to hold above $62,250 to maintain its upward momentum. If it fails, he anticipates a correction to $55,000 or even $52,000. Reasons for the Dip Van…
Trump’s Shift in Stance Former President Donald Trump has made a surprising U-turn on his previous skepticism towards Bitcoin and cryptocurrencies. In a recent video, he expressed strong support for these digital assets. Potential Impact on Bitcoin Price Analysts believe that Trump’s endorsement could significantly boost Bitcoin’s price. MacroScope, a financial analyst, emphasized the importance…
