Month: June 2024

Bitcoin falls below $66k, exchange activity rises

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Bitcoin (BTC) has witnessed a strong bearish momentum after three days of consolidation, leading to its price fall below the $66,000 mark. Bitcoin is down by 0.9% in the past 24 hours and is trading at $65,600 at the time of writing. The asset’s market cap also dropped below the $1.3 trillion mark for the second time this month. Bitcoin’s daily trading volume, however, increased by 125%, reaching $36.3 billion. BTC price, RSI, exchange activity and exchange balance as of Jun. 18 | Source: Santiment According to data provided by…

XRP price outlook: Ripple’s underperformance explained

Ripple (XRP) price has underperformed the broader crypto market this year. It has crashed by over 20% in 2024 while Bitcoin has soared by almost 50%. XRP has lagged behind other top ten cryptocurrencies like Toncoin, Ethereum, and Binance Coin. XRP has risen by just 1.6% in the past 12 months while Bitcoin has surged by over 100%. Its underperformance versus meme coins like Floki, Pepe, Book of Meme, and Brett has been a source of frustration for longer-term investors. Ripple’s performance has lagged the market despite even as the…

End Of The Road For FLOKI? Analyst Predicts 80% Crash For The Shiba Inu Competitor

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Shiba Inu competitor FLOKI has been one of the best performers this year and continues to maintain a high level in the market. Its price has more than doubled in 2024, prompting an influx of new investments into the meme coin. However, as investors throw money at FLOKI, one analyst expects this increase to be short-lived, predicting a massive price crash for the altcoin. FLOKI Poised For A Rally And Then A Dump Crypto analyst iMoneyTeam has predicted a dump for the FLOKI price that could erase all of the…

Quant price dips as whale makes major move

The price of Quant (QNT) is down nearly 5% in the past 24 hours amid the broader crypto market weakness that has Bitcoin trading near the $65,000 level. While BTC and other top cryptocurrencies struggle amid current market reaction to macroeconomic conditions, Quant has an extra layer of downside pressure after a whale moved over 118,000 QNT tokens to the Kraken crypto exchange. QNT, which traded at highs of $102 on May 21, is currently hovering at $79.85, with bulls under pressure that could see bears retest lows last seen…

Is Ethereum Poised For A Record Break? Top Analyst Says $5K is Coming Soon

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Prominent crypto analyst Jelle has projected Ethereum (ETH) to surge to $5,000 by the end of this year. This prediction comes with a notable reason from a technical perspective. Ethereum Rally: Setting the Stage For New Peaks Jelle’s forecast comes after Ethereum is experiencing a form of stabilization above the $3,500 mark, following a correction from its March high of over $4,000. Related Reading As the crypto community watches closely, Jelle’s insights suggest significant bullish potential for Ethereum, particularly as the market anticipates the launch of spot Ethereum exchange-traded funds…

Can Polygon Recover From The Recent Crash?

MATIC price is down over 15% and tested the $0.5150 support. Polygon is slowly recovering, but the bears might be active near $0.5650 and $0.5720. MATIC price started a fresh decline from the $0.6285 resistance zone against the US dollar. The price is trading below $0.570 and the 100-hour simple moving average. There is a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC/USD pair (data source from Kraken). The pair could recover and test the $0.5720 resistance zone in the near term.…

Zimbabwean Regulators Develop Framework for Virtual Assets Trading

The Securities and Exchange Commission of Zimbabwe (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are reportedly developing a framework for virtual asset trading. The framework aims to provide clear legislation, client protection under the Data Protection Act, and educational support. Challenges include infrastructural investment and licensing fees for foreign-supplied systems. An informal virtual asset […] Source CryptoX Portal

XRP Bulls Flex Muscles: Potential Uptrend in Play?

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XRP price dipped but the bulls were active near the $0.4700 support. The price reclaimed the 100-hourly SMA and might continue to rise if it clears $0.4950. XRP price found support at $0.4700 and started a recovery wave. The price is now trading above $0.4800 and the 100-hourly Simple Moving Average. There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise unless it fails to stay above the…

Bitcoin Could Crash To $60,000 If This Support Gets Lost: CryptoQuant Head

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On-chain data shows Bitcoin is approaching the “Realized Price” of the short-term holders, a retest of which has historically been important for BTC. Bitcoin Is Close To Seeing A Retest Of Short-Term Holder Cost Basis In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed how BTC has recently been near the Realized Price of the short-term holders. Related Reading The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the average price at which investors or addresses on the Bitcoin…

Korean Exchanges Set to Reevaluate Over 600 Listed Virtual Assets

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South Korean cryptocurrency exchanges are set to reevaluate more than 600 digital assets, and those failing this process will ultimately be delisted. Once the process is completed, crypto exchanges will be required to conduct maintenance reviews quarterly. The reputation of the issuers and user protection tools are among the factors related to virtual assets that […] Source