Day: May 2, 2024

Aave Labs Unveils Ambitious Plans for Protocol V4: Enhancing GHO Stability and Cross-Chain Liquidity

Aave Labs proposed a significant upgrade to its protocol, aimed at enhancing features like its stablecoin GHO, introducing a Unified Liquidity Layer for better integration, and improving the protocol’s architecture for cross-chain liquidity across both Ethereum and non-EVM layer-1 platforms. The update also focuses on automatizing interest rates based on market conditions with Chainlink data […] Source CryptoX Portal

Buy Dogecoin Now? Analyst Believes DOGE Is Primed For A Surge

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In an analysis shared via X, crypto analyst Ali Martinez elaborated on the ongoing price correction of Dogecoin (DOGE), positing that it is a consistent precursor to major bull runs, drawing on historical patterns to forecast future price movements. Martinez’s commentary centers on the chart pattern known as the “descending triangle.” This is a bearish formation that occurs when the price follows a downward trendline intersecting a flat support line. Typically, this pattern indicates a continuation of a downward trend, but in the context of Dogecoin, Martinez suggests it precedes…

Solana gains momentum following Solana-Bitcoin cross-chain announcement

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Solana (SOL) has gained bullish momentum as the Zeus Network plans to connect it with the Bitcoin blockchain. SOL is up by 4% in the past 24 hours and is trading at $129.9 at the time of writing. The asset’s market cap surpassed the $58 billion mark with a daily train volume of $4.1 billion. SOL price, Binance funding rate, open interest and RSI – May 2 | Source: Santiment According to data provided by Santiment, the SOL total open interest has been consistently declining over the past 10 days…

Wyoming Senator Slams DOJ’s Take on Non-Custodial Crypto Software, Vows to Protect User Rights

Wyoming’s Republican Senator Cynthia Lummis has responded to the Department of Justice’s (DOJ) latest argument regarding non-custodial software. Lummis’s remarks follow the DOJ’s reply brief on the indictment against Tornado Cash developer Roman Storm’s motion to dismiss. Senator Lummis Questions DOJ’s Non-Custodial Wallet Stance, Cites Legal Misinterpretations Senator Cynthia Lummis, a staunch advocate of cryptocurrency, […] Source CryptoX Portal

DOGE Price Prediction – Dogecoin Reaches Make-or-Breaks Levels

Dogecoin extended losses and traded below the $0.1350 resistance zone against the US Dollar. DOGE is now testing an important support at $0.1200. DOGE gained bearish momentum below the $0.140 and $0.1350 levels against the US dollar. The price is trading below the $0.1350 level and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance at $0.1350 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1420 to move into a positive zone and…

Bitcoin (BTC) U.S. ETFs Bleed Over Half a Billion Dollars Despite Fed Chair Jerome Powell Ruling Out Rate Hike

On Wednesday, GBTC witnessed the second-largest outflow of $167.4 million, followed by ARKB’s $98.1 million and IBIT’s $36.9 million. Other funds also bled money even though Powell’s net-dovish approach put a floor under risk assets, including bitcoin. A dovish stance is one where the central bank prefers employment and economic overgrowth over excessive liquidity tightening. Source

Bitcoin loses $60k support; P2E sector booms as GFOX soars

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As Bitcoin loses the critical $60k support amidst market turbulence, the Play-to-Earn sector thrives with Galaxy Fox (GFOX) soaring in value, highlighting a sectorial contrast. Every crypto bull market has brutal drawdowns that test any investor’s faith. It’s part of what keeps markets healthy and provides entry positions for the strong, while weak hands look for the exits. Based on current macro conditions, including a strong dollar, delays in…

Ethereum Price Revisits Key Support, Can Bears Take Over?

Ethereum price started another decline and traded below $2,920. ETH could gain bearish momentum if there is a close below the $2,800 support zone. Ethereum remained in a bearish zone and traded below the $2,900 zone. The price is trading below $2,950 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,050 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it stays below the $3,050 resistance. Ethereum Price Extends Losses Ethereum price…