Day: August 10, 2024

Grayscale Forecasts Bitcoin To Retest All-Time Highs By 2024 End If US Avoids Recession

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The Bitcoin market experienced a major downturn earlier this week attributed to concerns regarding the US economic outlook and increased volatility in the broader financial markets. Notably, Ethereum’s performance lagged, potentially influenced by heightened futures market activity and selling pressure from select large holders. Despite these challenges, asset manager and exchange-traded fund (ETF) issuer Grayscale remains optimistic about the potential for token valuations to rebound if the US economy continues on a trajectory toward a “soft landing.” Even in a scenario of economic weakness, Grayscale suggests that the downside risk…

Bitcoin Makes Sharp Recovery, But Watch Out For Resistance At $64,000

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On-chain data shows that the Bitcoin short-term holder whales have a cost base above $64,000, which could be a potential resistance point for BTC. Bitcoin Is Not Far From Realized Price Of Short-Term Holder Whales After Rally As pointed out by an analyst in a CryptoQuant Quicktake post, the BTC price had slipped below the Realized Price of the short-term holder whales earlier. The “Realized Price” here refers to an indicator that keeps track of the average cost basis that the investors of a particular group currently share. When the…

Analyst Says Dogecoin Price Will Surge 2,500% To $2.55, Here’s When

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Following its price surge in 2021, Dogecoin has become one of the most sought-after cryptocurrencies, with many expecting a repeat of this performance. Since then, the Dogecoin price has failed to surge, leaving investors wanting more. However, this period of poor performance may be drawing to a close as a crypto analyst expects a significant price surge for the meme coin. Dogecoin Price Headed For A New All-Time High Despite seeing a recovery from the recent market crash, the Dogecoin price is still well below its all-time high price of…

Financial Metrics React To Sonic Blockchain Anticipation

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The Fantom blockchain saw mixed performance in the second quarter (Q2) of the year, with key financial metrics cooling amid the broader cryptocurrency market downturn and the Fantom Foundation’s announcement to rebrand as Sonic Labs, according to a new report from data intelligence firm Messari. FTM Market Cap, Revenue, And Token Economics  After outperforming in Q1, Fantom’s circulating market cap decreased 41% quarter-over-quarter (QoQ) from $2.8 billion to $1.7 billion. However, the token’s market cap is still 94% higher year-over-year (YoY) compared to Q2 2023. Fantom’s market cap decrease. Source:…

Ethereum, Solana, and Rollblock are set to create many new crypto millionaires

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Investors are eyeing Solana and Ethereum, while Rollblock attracts record pre-sale interest and 200x gains. As the crypto market looks set for an incredibly strong finish to 2024, many investors are buying up established performers like Solana and Ethereum. At the same time, a new coin in the play-to-earn category, Rollblock (RBLK), is drawing in record investment to its pre-sale offering as experts predict massive gains of up to…

NBTC: THORChain Protocol Revenue Rises 100%, Why Is RUNE Struggling?

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RUNE, the native token of the cross-chain decentralized exchange, THORChain, is under pressure. From the daily chart, the token is down nearly 60% from May highs and remains flat even as the broader crypto market recovers. Even as RUNE flatlines, there is confidence that prices may rally in the coming days primarily because of fundamental factors and efforts made by the development team. THORChain Revenue Rising After Swap Fee Increment In a post on X, one analyst noted that THORChain has nearly doubled its revenue in the past two days…

ADA picks up as whales fill bags with TRX and DTX for major gains

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Cardano (ADA) sees some relief on the charts after a continued struggle, meanwhile whales focus on Tron (TRX) and DTX Exchange to expand gains. Cardano (ADA) is finally showing some signs of relief through a spike on the daily charts, after a considerably low market performance. Cardano tumbled below forming new lows in 2024, but a recent rebound has occurred, and this is causing a jump in the Cardano…

Legendary Trader Peter Brandt Reveals The ‘Clear Winner’

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A crypto analyst has reignited the debate between Ethereum (ETH) and Solana (SOL), evaluating which cryptocurrency was more superior. Considering recent market trends and performances of both altcoins, the analyst has finally identified a clear winner in the competition.  Solana Wins Battle Against Ethereum In a recent X (formerly Twitter) post, legendary crypto trader and analyst, Peter Brandt drew a comparison between Solana and Ethereum, spotlighting their fundamental characteristics, strengths and weaknesses. Based on his analysis, Brandt suggests that it was inevitable that one will be recognized as the clear…