Author: News Room
Bitcoin’s price has been going through a consolidation phase over the past month, failing to continue its rally higher than $75K. Yet, things might be about to change soon. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been forming a large triangle pattern around the $70K mark. Depending on the direction of the potential breakout, these patterns can signal a reversal or continuation of the trend. Currently, the market has reclaimed the $68K level and is moving toward the higher boundary of the pattern. If a bullish breakout occurs, a rally toward higher prices…
Bitcoin’s supremacy over major banks has been underscored by Gabor Gurbacs, strategy advisor at Tether and VanEck. With a staggering market capitalization exceeding $1.3 trillion, Bitcoin stands taller than the top four largest banks in the world combined. Surpassing banking behemoths like JPMorgan Chase, Bank of America, ICBC, Wells Fargo, Agricultural Bank of China, Bank of China and China Construction Bank, Bitcoin’s market cap is 2.4 times larger than that of JPMorgan Chase alone. Such a feat underscores the growing significance of decentralized digital currencies in the global financial landscape. Gurbacs challenges the narrative surrounding Bitcoin’s success, questioning why journalists…
Meme cryptocurrency Dogecoin (DOGE) has seized upon the ongoing market rally, breaching key resistance levels as it sets its sights on the coveted $1 mark. In the wake of Dogecoin’s recent price surge, the meme coin is rapidly closing in on XRP in terms of market capitalization. As of press time, the market cap of the two cryptocurrencies shows a difference of nearly $4 billion, with XRP standing at $32.98 billion and DOGE at $29.98 billion. The question arises: does Dogecoin have the potential to surpass XRP’s market capitalization? This achievement will primarily hinge on Dogecoin’s price movements. Dogecoin price…
Last Friday, Kevin Paffrath, on his highly popular YouTube channel Meet Kevin, kicked off the discussion by highlighting Ripple’s landmark victory in July 2023, when the SEC declared that the XRP token is not inherently a security. Paffrath pointed out how this regulatory win was a pivotal moment for Ripple, setting a precedent for the company’s future endeavors without the overshadowing threat of regulatory complications. As CryptoGlobe reported, Ripple, a frontrunner in blockchain and cryptocurrency solutions, announced on April 4 its intention to unveil a stablecoin tethered 1:1 with the US dollar later this year. This forthcoming stablecoin will be…
Base, the Ethereum layer-2 (L2) project launched by the US-based crypto giant Coinbase, has vaulted past the $4 billion mark in total value locked (TVL). Data from L2Beat reveals that the project reached a TVL of $4.15 billion. This impressive figure has allowed Base to surpass the growth of older L2 chains, including the popular Arbitrum (ARB). Base Overtakes Arbitrum and Optimism in TVL Growth Drawing on the latest data from L2Beat as of April 8, 2024, at 2:00 AM UTC, Base’s TVL consists of $2.69 billion in natively minted value, $3.69 million in externally bridged value, and $1.45 billion…
Throughout this week, while bitcoin and ethereum have been consolidating, vibrant discussions about the elusive ‘Altcoin Season’ have intensified across forums and social media platforms like X. Some anticipate that a rally among altcoins is on the horizon, even though the Altcoin Season Index still suggests it is “not Altcoin Season.” Altcoin Season Index Inches […] Read the full article here
Another busy week is shaping up on the US economic calendar with key inflation data and the minutes from the March Federal Reserve meeting. Core Consumer Price Index (CPI) figures are due out, and market participants eagerly await them as they are a leading inflation indicator. Additionally, the Q1 2024 earnings season kicks off on Friday with reports from some of the country’s leading banks. Key Events This Week: 1. March CPI Inflation data – Wednesday 2. Fed Meeting Minutes – Wednesday 3. March PPI Inflation data – Thursday 4. Initial Jobless Claims data – Thursday 5. MI Consumer Sentiment…
According to crypto analyst Ali, nearly 111,000 Bitcoin (BTC), valued at around $7.55 billion, were moved out of known crypto exchange wallets in the last month. This trend highlights a gradual reduction in BTC supply on exchanges in recent months, implying an exodus from cryptocurrency exchanges. One probable explanation for the Bitcoin exodus is that an increasing number of investors prefer to retain their Bitcoin in private wallets rather than on exchanges. In the last month, almost 111,000 $BTC, valued at approximately $7.55 billion, have been moved out of known #crypto exchange wallets! pic.twitter.com/c7cy4BKvFk — Ali (@ali_charts) April 6, 2024…
VeChainThor: Speedy, secure blockchain with community-driven governance. Environmentally friendly: Minimal energy usage compared to other blockchains. Focus on real-world applications, bridging tech and practicality. VeChainThor, the blockchain making waves in the crypto world, is garnering attention for its unique blend of speed, security, and community involvement. Launched in June 2018, it boasts zero downtime, ensuring uninterrupted operations. VeChainThor. Let’s talk about it.It’s our blockchain that is getting everyone on board, mixing up speed, security, and making sure everyone gets a say. Here’s why it’s a big deal. 🧵 pic.twitter.com/V1VoRJE7VW — vechain (@vechainofficial) April 5, 2024 Speed is a standout feature…
Solana, the layer 1 cryptocurrency initiated April on a bearish note in tandem with the broader market. The bearish downturn initiated at $205, plunged the coin price 12.6% to current trade at $179. Analyzing the daily chart reveals this reversal as the formation of a double-top pattern, suggesting the asset is poised for prolonged downfall. However, will the upcoming Bitcoin halving invalidate this thesis for a renewed recovery? Read the full article here