Polygon has continued its recent bullish momentum in the past day, jumping a further 6%, as on-chain data shows the whales are highly active currently. Polygon Is Now Up More Than 21% In The Past Week The past month has been a great time for Polygon investors as the cryptocurrency has observed a substantial uplift. Earlier in this period, the growth had been slower, but recently the asset has really stepped up. Here is a chart that shows how MATIC’s rally has looked over the last 30 days: Looks like…
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Microsoft (MSFT) Shares Soar to Record High amid OpenAI-Related Optimism
Market analysts believe the new updates released by OpenAI significantly contributed to the rise of Microsoft (MSFT) shares. Microsoft Corporation (NASDAQ: MSFT), a global technology powerhouse, witnessed a remarkable surge in its share price, achieving unprecedented heights for the first time since 2021. On November 7, the company’s shares ended the trading session at a record high of $360.53, representing an impressive daily increase of 1.12%. The surge propelled the company’s market value to approximately $2.68 trillion. Positive Market Sentiment The robust performance aligns with broader market sentiment on Tuesday,…
Where Is Bitcoin Price Headed as BTC $1K+ Wallet and Long-Term Holders Reach New All-Time High?
Given BTC price’s continuous rejection of the $35k zone, it is possible that we may witness Bitcoin correction to $31k. The price of Bitcoin has broken through the $35k resistance for the third time since the start of November. It shattered the long-term consolidation range between $25k and $31k on October 22. Although the price has been on the rise since then, the overall signals have been mixed, with some analysts expecting retracements and others anticipating a continued upward trend. When BTC experienced the breakout from the $25k to $31k…
Altcoins Market Share Versus Bitcoin At A 4 Month High: What’s The Trigger?
Looking at Kaiko’s data shared on November 7 by Dessislava Ianeva, a Research Analyst at the blockchain analyst firm, it is evident that altcoins market share versus Bitcoin (BTC) has been rising in the past four months, reaching a 4-month high, the highest level since July 2023. The surge in market share can be attributed to multiple factors but primarily because of the upswing in Bitcoin prices, improving sentiment across the crypto market, and project-related developments that have attracted capital over the past few trading months. Altcoins market share versus Bitcoin rising…
Bitcoin supply held by long-term holders hits all-time high — Research
Data from Glassnode suggests that Bitcoin (BTC) is in an accumulation pattern, with its available supply reaching a new historical low. According to the report, Bitcoin’s illiquid supply and long-term holders are increasing. As its supply tightens, available BTC is being purchased by smaller, long-term holding entities. Bitcoin accumulation among a majority of investor cohorts and the bullish conviction of long-term holders have resulted in investors gobbling up “92% of the newly mined supply,” according to the Glassnode analysis. “If we isolate only entities on the smaller end of the scale,…
Analyst Sets Bullish Ether (ETH) Price Target as Ethereum Blockchain Settlements Soar to 7-Month High
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Dogecoin Climbs Above $0.075 To 3-Month High, But Metrics Show It’s Far From Done
Dogecoin has emerged as one of the clear winners in the last week after its price climbed over 10% to secure the $0.075 level. This incredible rally has brought the meme coin to its highest level in the last three months. However, it may only be getting started as multiple DOGE metrics continue to exhibit bullishness. Dogecoin Whales Still In The Game One of the most important metrics that show how investors are looking at a coin like Dogecoin is what the large investors are doing. Initially, when the crypto…
Inordinately high — Bitcoin Ordinals send BTC transaction fees to new 5-month peak
Bitcoin (BTC) transaction fees are at their highest in nearly six months as a new wave of inscriptions boosts competition for block space. Data from statistics resource BitInfoCharts shows the average BTC transaction fee approaching $6 as of Nov. 7. Ordinals taking up Bitcoin mempool again The return of Bitcoin Ordinals is making its presence felt this week as on-chain transactions attract highly elevated fees. In an environment reminiscent of Q2 this year, blockspace is being taken up by ordinal inscriptions. Ordinals are nonfungible tokens (NFTs) that store data directly…
Cardano (ADA) Price Hits 4-Month High as Network TVL Spikes Nearly 40%
Cardano is recording increased price and network activity and has sparked bullish predictions about the coin’s future. The price of Cardano (ADA) hit a new four-month high on Sunday, climbing to $0.348808. The surge is reportedly due to heavy activity from whale investors and decentralized finance (DeFi) in general. According to CoinMarketCap data, Cardano is now trading higher at $0.353 after rising more than 4% in the last 24 hours and nearly 18% over 7 days. The network is seeing a significant increase in activity, according to data from on-chain…
XRP Enjoys 11% Rally As Sharks & Whales Hit 2023 High Holdings
On-chain data shows the XRP sharks and whales have been accumulating as the recent rally in the token’s price has occurred. XRP Sharks & Whales Are Backing The Current Rally In The Asset According to data from the on-chain analytics firm Santiment, the large XRP holders have participated in buying recently. The relevant indicator here is the “Supply Distribution,” which measures the percentage of the total supply that each investor cohort in the market is holding in their wallets as a whole right now. In the context of the current…