Tag: High

ERC-404 Euphoria Push Ethereum Gas Fees To 8 Month High

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The new ERC-404 tokens have swiftly taken the spotlight, dominating the cryptocurrency market and consistently attracting interest from investors and traders. This surge in euphoria has led to a substantial increase in Ethereum gas fees, pushing costs to their highest levels in the past eight months.  Ethereum Gas Fees Skyrocket Ethereum gas fees have surged to record highs, reaching unseen levels since March 2023, when the average gas price peaked at 101.26 Gwei. The sudden spike in Ethereum gas prices has been attributed to the recent hype surrounding ERC-404 tokens,…

These Altcoins Are Showing High Social Dominance After Recent Price Swings

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According to crypto intelligence platform Santiment, some altcoins have been enjoying increased attention from investors over the past few days. This comes as the crypto market continues to undergo a positive recovery from its recent slump in the aftermath of the Bitcoin ETF launch. These Altcoins Show Potential For More Profit: Santiment In a post on the X platform, Santiment revealed that three altcoins, including Chainlink (LINK), Immutable X (IMX), and Pyth (PYTH), have become assets of mainstream interest in the past few days.  This revelation is based on their…

Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High?

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BNB, the native token of the Binance Smart Chain, experienced a drop on Friday, showing a huge red candlestick after opening at around $305 and moving downward toward $297.93. This downward move began with a rejection at $312.53 on Wednesday, thereby creating resistance at the same level. At the time of writing, the price still shows strong signs of moving downward to its previous support level of $300. If this support level is unable to hold, then the price might continue downward to the next support level at $263.93. But,…

Accumulation Trend Peaks At A 3-Year High – What’s Driving The Surge?

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According to data shared by renowned crypto analyst Ali, Bitcoin has recently witnessed a significant development in its investment dynamics, marking a notable shift in the crypto market. In a post on X published earlier today, Ali disclosed that Bitcoin is experiencing a substantial accumulation streak, which has not been seen in nearly three years. According to the analyst, this surge in the Accumulation Trend Score indicates the growing confidence among larger entities in the cryptocurrency market. Ali’s shared data further reveals that the Accumulation Trend Score for Bitcoin has…

Solana transaction volume hit multi-year high in January

Transaction volume on the Solana network crossed $1 trillion in January, a multi-year high. According to The Block’s dashboard, transaction volume is up 30% from December 2023, at $738.8 billion. Online transaction volume has hit a record high since September 2022, at $1.55 trillion. Source: The Block Experts note that the growth in blockchain activity is significantly higher than in 2023 and through much of 2022. For example, in September 2023, transaction volume on the Solana network reached a low of $40 billion. In January, the number of registered addresses…

Bitcoin Price Could Hit New All-Time High Before Halving

The Bitcoin market is currently experiencing a turning point, largely driven by recent trends in Bitcoin exchange-traded funds (ETFs). Yesterday, Bitcoin’s price rose above $43,000, a movement closely tied to changing dynamics in ETF inflows and outflows, particularly involving the Grayscale Bitcoin Trust (GBTC). On January 29, (Bitcoin ETF Day 12), a notable shift occurred. The Bitcoin spot ETFs witnessed a substantial net inflow of US$255 million, while Grayscale’s GBTC experienced a significant net outflow of $191 million. The other nine ETFs, led by Fidelity and BlackRock, saw a combined…

Bitcoin mining stocks rise as S&P 500 and Dow Jones hit all-time high

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Marathon Digital, Riot Blockchain, and other public Bitcoin mining companies witnessed positive returns on Monday as Wall Street reached new milestones. The top five largest Bitcoin mining firms by market capitalization saw gains ranging from 2.98% to 6.25% on Monday evening, coinciding with record highs set by the S&P 500 and Dow Jones. While no crypto-related companies are directly listed in these indexes, the overall market excitement appears to have influenced investor sentiment. According to data from CompaniesMarketCap, Bitdeer Technologies Group (BTDR) is the main gainer, showing a 6.25% price…

Solana Stablecoin Volume Reaches Record High Of $300 Billion In January

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According to the latest on-chain data, the Layer-1 network Solana has hit a significant milestone in terms of the transfer volume of stablecoins this month. Solana Overtakes Tron In Stablecoin Transfer Volume Data from the blockchain analytics platform Artemis shows that the stablecoin transfer volume on Solana has already surpassed $300 billion in January. This is the largest transfer volume recorded by stablecoins on the Layer-1 blockchain in a single month. To put this figure into context, the Solana network registered $297 billion in stablecoin volume in the entire December.…

Bitcoin Whale Addresses Hit 15-Month High

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The story has not been much different for the price of Bitcoin this week, as the premier cryptocurrency has struggled to capitalize on its recent advancements. According to data from CoinGecko, BTC is down by more than 3% in the past week, putting doubts over the continuation of the bull run. However, the latest on-chain revelation has offered some relief, suggesting that the value of Bitcoin might be up for substantial recovery over the next few weeks.  Can Whale Accumulation Trigger Continuation Of Bull Cycle? Popular crypto analyst Ali Martinez…