Month: April 2024

Trading Guru Uncovers This Notable Pattern On Solana: What’s Next For SOL Investors?

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Trader and market analyst Peter Brandt has provided valuable perspectives on the recent price movement of Solana (SOL), suggesting the completion of a notable chart pattern. In particular, Brandt has noted a descending triangle pattern forming on Solana’s 4-hour price chart. Identified Chart Pattern On SOL And Its Implications The descending triangle pattern identified by lower highs and a horizontal support line is often interpreted in technical analysis as a signal of a potential downtrend continuation. Brandt’s recent post highlighted the completion of this pattern, drawing attention to a crucial…

Can Dogecoin Take XRP’s Spot?

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In the last few weeks, there has been uncertainty in the crypto market, but that has not stopped the likes of Dogecoin and XRP from making moves. One of the most notable developments, however, was the entry of Toncoin (TON) into the top 10 cryptocurrencies by market cap, and then dethroning Cardano (ADA). Following this, Dogecoin looks ready to carry out a flippening of its own, eyeing XRP’s spot on the list. Dogecoin Gearing Up To Take Over XRP Dogecoin has performed rather well at a time when the crypto…

DAI Circulation Approaches 5 Billion As MakerDAO Unleashes Key Updates

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In a recent announcement on the social media platform X (formerly Twitter), MakerDAO, the Ethereum-based protocol responsible for issuing the DAI algorithmic stablecoin, provided insights into the performance of the Maker Protocol following recent changes. Over the past few weeks, MakerDAO has implemented significant updates to the protocol and the DAI stablecoin.  Introducing the Accelerated Proposal and the direct deposit module (D3M) to Spark’s Metamorpho Vault has notably impacted the ecosystem. Increased DAI Supply And Demand Looking at key metrics that demonstrate the effects of these changes to the protocol,…

Top U.S. House Lawmakers Meet With Schumer on Stablecoin Bill Strategy: Punchbowl

On the crypto event circuit, McHenry has repeatedly contended that it’s still possible to get his panel’s stablecoin bill passed for President Joe Biden to sign it into law, including in remarks earlier this week. McHenry is retiring from Congress this year and has put a priority on the legislation to provide guardrails to issuers of the tokens that, among other uses, provide a steadier foundation for the trading of more volatile cryptocurrencies. Source

Kraken Crypto Exchange Plans To Delist Monero in Two European Countries in Two Months

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One of the biggest centralized crypto exchange platforms in the world is planning on delisting a popular privacy-focused altcoin in two European nations in the coming months. In a new article, crypto exchange Kraken says it’s going to be delisting Monero (XMR), a blockchain focused on anonymity that launched in 2014, from Ireland and Belgium starting in June. According to Kraken, after June 10th, all remaining XMR on the crypto exchange will be automatically converted into Bitcoin (BTC), the top crypto asset by market cap. “We will be delisting Monero…

Bitcoin Back Above $70,000 Despite Negative Taker Volume

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Bitcoin has surged back above the $70,000 level during the past day despite the negative Net Taker Volume for the asset. Bitcoin Net Taker Volume Has Seen Some Large Negative Spikes Recently As explained by CryptoQuant Netherlands community manager Maartunn in a post on X, selling spikes of a significantly heavier scale than before have recently appeared in the Bitcoin Net Taker Volume. The “Net Taker Volume” is an indicator that keeps track of the difference between the Bitcoin taker buy and taker sell volumes in perpetual swaps. How can…

Crypto Analyst Predicts Shiba Inu Price Will Reach $0.0001 If This Happens

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A crypto analyst has raised the possibility of Shiba Inu (SHIB) rising to as high as $0.0001. As part of his analysis, he highlighted certain factors that could contribute to the meme coin experiencing this parabolic price surge.  Shiba Inu To Rise To $0.0001 If History Repeats Itself Crypto analyst Bunchhieng suggested in his analysis that SHIB could attain such a price level if history were to repeat itself, and SHIB mirrors its bullish pattern from the 2021 bull run. He affirmed that based on the patterns that he observed…