The ongoing Ripple vs. SEC battle has sparked interest in six key XRP rivals: Solana (SOL), Cardano (ADA), Chainlink (LINK), Polygon (MATIC), Polkadot (DOT), and Filecoin (FIL). These platforms exhibit impressive growth indicators, suggesting substantial potential returns. Tech-savvy investors closely monitor these alternatives, aiming to transform a $1,000 investment into $100,000 by capitalizing on their The post Turn $1,000 Into $100,000 Buying 6 XRP Rivals As Ripple vs SEC Battle Escalates appeared first on CoinGape .
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Whale and Arthur Hayes Make Significant PENDLE Transactions Amid Market Fluctuations
Significant whale activity has been detected involving the native cryptocurrency of the Pendle protocol, PENDLE. Arthur Hayes, BitMEX co-founder, has made a noteworthy move in locking up a substantial amount of PENDLE until late 2024. Profitable transactions and staking activities have highlighted the potential of PENDLE as a lucrative investment. Discover the recent financial maneuvers
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Cryptocurrencies To Buy For $1,000 This Week
A colossal $0.13 trillion has been wiped off the cryptocurrency market in the last 24 hours, reflecting the sell-off due to the soaring volatility. Bitcoin price hinted at the crash with its retreat beneath the $70,000 mark over the weekend. Why Focus On Cryptocurrencies To Buy Amid The Bloodshed The slump in BTC price triggered The post Cryptocurrencies To Buy For $1,000 This Week appeared first on CoinGape .
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Bitcoin Slips Under $67,000: Can BTC Rely On This Historical Support Again?
Bitcoin has observed a plunge during the past day, taking the asset’s price under $67,000. Here’s the historical support level that the asset could visit next. Bitcoin Is Now Not Far From The Short-Term Holder Realized Price As analyst James Van Straten pointed out in a post on X, the Realized Price of the Bitcoin Short-Term Holders has been going up recently and currently sits around the $64,000 level. The “Realized Price” here refers to an on-chain metric that keeps track of the cost basis of the average investor in the BTC market. This indicator is based on the “Realized Cap” model for the cryptocurrency. Related Reading: Litecoin In Uphill Battle: Strong Resistance Might Block Recovery When the asset’s spot price is greater than the Realized Price, it means the investors are carrying some net unrealized profits right now. On the other hand, the coin’s value under the metric suggests the dominance of losses in the market. In the context of the current topic, the Realized Price of a specific sector segment is of interest: the Short-Term Holders (STHs). The STHs include all the investors who bought their coins within the past 155 days. Here is a chart that shows the trend in the Realized Price of the Bitcoin STHs over the last few years: As displayed in the above graph, the Bitcoin STH Realized Price rapidly climbed during the rally towards the all-time high price (ATH) earlier in the year. This trend naturally makes sense, as the STHs represent the new investors in the market, who would have had to buy at higher prices as the asset climbed up, thus pushing the cohort’s average up. Since BTC’s consolidation phase following the March ATH, the indicator’s uptrend has slowed, but its value is increasing nonetheless. After the latest increase, the metric has approached $64,000. Now, what significance does the Realized Price of the STHs have? Historically, this indicator has taken turns acting as a major support and resistance line for the cryptocurrency. During bullish periods, this metric can facilitate bottom formations for the cryptocurrency, thus keeping it above itself, while bearish trends generally witness the line acting as a barrier preventing the coin from escaping above it. Transitions beyond this level have generally reflected a flip trend for the coin. This apparent pattern has held up likely because the STHs, being the relatively inexperienced hands, can be quite reactive. The cost basis is an important level for any investor, but this cohort, in particular, can be more likely to panic when a retest of their cost basis takes place. When the sentiment in the market is bullish, the STHs could decide to buy more when the price drops to their average cost basis, believing the drawdown to be merely a “dip” opportunity. In bearish phases, though, they may react to such a retest by panic selling instead. Related Reading: Bitcoin Could See Next Top At $89,200, Crypto Analyst Suggests The chart shows that Bitcoin found support around this line during the crash at the end of April/start of May, potentially implying a bullish sentiment has continued to be dominant. With BTC seeing a drop below $67,000 in the past day and the STH Realized Price closing in at $64,000, it will be interesting to see how a potential retest would play out this time. BTC Price At the time of writing, Bitcoin is trading at around $66,800, down over 3% in the past week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
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Vitalik Buterin Highlights Ethereum’s Milestones Amidst Optimism’s Growth
Ethereum co-founder Vitalik Buterin highlights significant milestones achieved by the Ethereum protocol. Buterin emphasizes the importance of recent advancements in Layer 2 protocols like Optimism. He teases upcoming developments and milestones for the Ethereum network. Discover the latest milestones in Ethereum’s development, including insights from co-founder Vitalik Buterin on the protocol’s future achievements and the
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Whale Moves Indicate Major Shifts for Leading Meme Coin Dogecoin
The on-chain metrics of Dogecoin and Shiba Inu are indicating a waning interest among market participants. According to analyst Ekta Mourya, this could signal an increase in the recent losses for both meme coins. A decline in active addresses and volume suggests lower activity levels among traders. Notably, whales have moved 600 billion SHIB and
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PlanB Forecasts Bitcoin Reaching $800K by 2025 Despite Potential Risks
Renowned crypto analyst PlanB has updated his predictions for Bitcoin’s (BTC) future pricing. PlanB’s projections span over five years, from 2024 to 2028, based on his stock-to-flow (S2F) model. The analyst envisions significant price milestones, emphasizing the model’s historical accuracy. Discover PlanB’s ambitious Bitcoin price predictions for the next five years, analyzing potential impacts and
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