Glassnode co-founders believe Ethereum (ETH) could skyrocket by 120% from its current level. Historical Pattern They point to a similar pattern in early 2021, where ETH rallied significantly. Based on this, they predict a target price of around $7,500, which would mirror the Fibonacci extension seen in 2021. Relative Strength Ethereum is currently showing relative…
A well-known cryptocurrency analyst, DonAlt, has issued a warning about Bitcoin (BTC). He believes that BTC is at risk of falling below a crucial support level of $60,000. Key Points If the $60,000-$73,800 range breaks down, Bitcoin could experience a prolonged downturn of at least 120 days. In the worst-case scenario, BTC could drop to…
Reduced Miner Selling CryptoQuant analyst Crypto Dan has observed a decline in miners selling Bitcoin. Miners have been major sellers in recent months, contributing to the market downturn. However, the recent reduction in selling pressure suggests a potential shift. Market Absorption The market appears to be absorbing the miners’ sell-off. The volume and frequency of…
Litecoin has made a comeback after hitting a low of $70 in June. This resurgence is largely due to the surge in Ordinal inscriptions. Ordinals on Litecoin As of June 27, over 25 million Ordinals have been inscribed on Litecoin’s network. Notably, 1.5 million were added in just two weeks. Low Transaction Fees Unlike Bitcoin…
The Supreme Court has delivered a major blow to federal agencies’ ability to make laws. This ruling has significant implications for the crypto industry, potentially weakening the SEC’s regulatory authority. Benefits for the Crypto Industry The Court’s decision overturns a precedent that allowed agencies like the SEC to interpret ambiguous laws through rulemaking. This means…
Reasons for Filing VanEck’s head of research, Matthew Sigel, has outlined the reasons for filing for a Spot Solana Exchange Traded Fund (ETF): Solana (SOL) is a major competitor to Ethereum, the world’s largest altcoin. SOL’s unique technological architecture allows for high scalability and speed, processing thousands of transactions per second. Solana’s blockchain network handles…
Jesse Powell’s Support Jesse Powell, co-founder of Kraken, has donated $1 million to Donald Trump’s 2024 election campaign. Powell believes Trump’s support for cryptocurrency is crucial for the future of blockchain technology in the US. Crypto Industry’s Discontent Powell’s donation reflects growing dissatisfaction within the crypto industry over the Biden administration’s regulatory policies. The industry…
Dogwifhat (WIF) The largest WIF holder has increased their holdings by 2.3 million tokens, bringing their total to over 23 million WIF. This purchase follows a previous large acquisition of 17.22 million WIF. Other Memecoin Whales Another WIF whale who had previously lost $4.63 million has also purchased more tokens, indicating a belief in the…
Despite riskier lending practices, the Federal Reserve (Fed) reports that America’s largest banks have sufficient capital to withstand a major financial crisis. Stress Test Results In a simulation, the Fed tested 31 of the nation’s biggest banks against a “highly stressful scenario” that included: 55% stock market decline 40% drop in commercial real estate prices…
After a long slumber, a massive Bitcoin (BTC) holder has stirred, moving $3,050,000 worth of the cryptocurrency to Binance. Dormant Wallet Revives According to Lookonchain, a crypto intelligence firm, a mining wallet that had been inactive for 14 years suddenly deposited 50 BTC on June 26th. These coins were mined in July 2010, when BTC…
