Day: January 15, 2024

Whales Accumulating Maker And Aave, Path To 2024 Highs?

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On-chain data suggests that whales are accumulating large amounts of Maker (MKR) and Aave (AAVE), two leading decentralized finance (DeFi) tokens. This accumulation trend coincides with a broader cooling-off period in the crypto scene days after the United States Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs.  Whales Accumulate MKR And AAVE According to ScopeScan data, Anchorage Digital, a digital asset custody firm, purchased a significant amount of MKR on January 15. The firm acquired 12,103 MKR tokens, valued at approximately $24.7 million, from Coinbase, a leading crypto exchange…

Altcoin season index signal fires off

According to the index, altcoins have outperformed Bitcoin in the last 90 days. Crypto Banter, a YouTube-based crypto analyst, released a video on Jan. 15 highlighting a signal many crypto experts use that has just fired off for the altcoin market, starting what some believe might be the 2024 bull run. The analyst also referenced its bubbles chart, highlighting that on a weekly timeframe, SUI is up 82.3%, Celestia (TIA) is up 48.3%, and Helium (HNT) is up 47%, while Bitcoin (BTC) shows a 2.8% decrease in the same period.…

Dogecoin To See 24% Rally To $0.100 If This Holds: Analyst

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An analyst has explained that Dogecoin could rally towards $0.10 based on a pattern forming in its price if a support cluster continues to hold. Dogecoin Has Observed A Buy Signal On Its 3-Day Chart As explained by analyst Ali in a post on X, a TD-Sequential buy signal recently appeared for DOGE on its 3-day price. The “Tom Demark (TD) Sequential” here refers to an indicator in technical analysis that helps pinpoint locations of probable tops and bottoms in any asset’s price. This indicator is made up of two…

Ethereum Price Could Reach $5k in 2024 If this Scenario Plays Out

Ethereum price has prodded above $2,500 on Jan. 15, further stretching its post-ETF approval lead over BTC, on-chain data trends provide vital insights into the underlying drivers.  ‘Buy-the-rumor, sell-the-news’ is a popular trading strategy where speculators make acquisitions ahead of a material news event in hopes of selling at a profit when news is confirmed. BTC speculators capitalized on this trading strategy to earn historic gains in the build-up to the spot Bitcoin ETF approval verdict. Vital on-chain data trends now reveal that Ethereum (ETH) has also begun to show…

How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader

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Ash Crypto, a prominent figure in the crypto trading community, predicted that the US spot Bitcoin Exchange-Traded Funds (ETFs) could propel BTC’s price to $500,000. Bitcoin To Follow Gold’s ETF Success Story The rationale behind Ash Crypto’s forecast stems from a comparison with gold, whose market capitalization witnessed a significant surge after the introduction of its ETFs. Historically, gold’s market cap escalated from approximately $2 trillion before the ETFs to roughly $16 trillion over the following years. Ash Crypto posits that with its finite supply and growing popularity, Bitcoin might…

Crypto Analyst Says A Solana Price Will Climb To $750, Here’s When

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Crypto YouTuber Jake Gagain has shared his “insane price prediction” for Solana (SOL) as he said that the crypto token will climb to $750. The crypto analyst didn’t stop there as he also provided a timeframe for when this price level would be attained.  Solana Price To Rise To $750 In 2025 Gagain said that he expects Solana to hit this price level by 2025 in an X (formerly Twitter) post. In the accompanying video, he outlined several reasons for this bullish sentiment. For the first, he alluded to the…

Coinbase dominance over Bitcoin ETF custody raises concerns

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Coinbase is the custodian of eight of the 11 approved Bitcoin ETFs, and several blockchain specialists and ETF consultants have raised concerns about this high concentration on one platform. The extensive involvement of Coinbase in these ETFs extends beyond mere custodianship. The digital-asset exchange is poised to provide a comprehensive suite of services, encompassing custodial, trading, and lending functions, to prominent players like BlackRock. However, this concentration of responsibilities within a single entity, Coinbase, is sparking concerns among experts in the blockchain and ETF sectors.  Notably, the SEC has expressed…

HIPP is undervalued after El Hippo liquidity lock

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As the crypto space evolves, more advanced systems are put in place to safeguard funds and increase the trust and transparency of a project. One of the best ways to demonstrate to a community that the team is serious about the project’s long-term health is to implement a liquidity lock and token burn mechanism, which El Hippo did in December 2023. What’s a liquidity lock? A liquidity lock typically refers…

Accumulation Zone Points To Upside Potential, $20 In Sight

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The decentralized Oracle network Chainlink and its native token LINK have grown impressively in the past month. Despite experiencing a correction since late December, where LINK reached a 20-month high of $17.6, the token has shown signs of renewed bullish momentum.  Key Resistance Levels For LINK’s Price Rally Renowned crypto analyst Ali Martinez has identified a robust demand zone for Chainlink between $14.8 and $15.2, slightly below its current trading price of $15.415.  Within this range, many addresses (17,650) purchased 85.12 million LINK. With limited resistance, LINK appears to be well-positioned…

Will the Bitcoin Halving Cause Another BTC Price Hype Cycle?

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In fact, the current bitcoin mining difficulty is at historic highs, with computing power jumping over 100% in 2023. CoinShares predicts this to fall off after the halving with a “miner exodus.” The company also said the “average cost of production per coin” could normalize at just under $38,000 post-halving, given the complicated interrelation between hardware and electricity costs, difficulty levels and the cost structures that determine whether certain miners are making or losing money, which determines how many miners are on the network. Original