Crypto News Ethereum

Weekly NFT Sales Show Improvement, Fantom and Immutable X NFT Volume Spikes

weekly-nft-sales-show-improvement,-fantom-and-immutable-x-nft-volume-spikes

Non-fungible token (NFT) sales managed to climb higher during the last seven days than the previous week’s overall sales. This week’s NFT sales managed to jump over 6.3% after recording more than $153 million in sales compared to last week’s $144 million. Non-Fungible Token Sales This Week Climb More Than 6% Higher, 2 NFT Collections More

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Crypto News

APECoin Retraces 2.5% In Last 7 Days – More Selloff In The Offing?

ApeCoin (APE) has been a high-performer with the price surge seen in the past couple of weeks. ApeCoin moving erratic in an ascending parallel channel. Price maintains to hold above the key support zone of $6.5. APE/USD pair gearing sideways spotted at 0.000286 Satoshis. The buying pressure has been impeccable pushing the prices way up. With the recent uptrend, APE registered a 9-week high peaking at $7.8 in the past week. On the other hand, buyers are trying to keep the coin soaring this week – and it seems like they’re facing hard times. The altcoin is seen to retrace by 2.5% as seen in the past seven days with increased selloffs looming in the next coming days. Related Reading: Polkadot (DOT) To Retest $9.88 Resistance – Can Bulls Regain Solid Footing? APECoin Price Trades at $6.83 According to CoinMarketCap, APE coin price has dropped by 1.39% and trading at $6.83 as of press time. A weekly price candle has shaped up in conformity with the past bullish candle. On the 4-hour timeline, the altcoin’s price action is observed to appear with a strong wave of higher-lows and higher-highs within the ascending parallel channel. At this point, buyers are trying to maintain APE as it hovers above the support line of $6.5. A bullish hurdle for the bulls is spotted right at $8.0. Now, if the bulls are able to breach this critical resistance zone, then $10 may be the next target. The RSI for APE has hovered downwards to revisit the semi-line as seen on the daily price timeline. Despite the MACD staying above the neutral zone, it still looks rather tepid or flat. More so, the histogram is also weakening. RSI Shows Retracement; Bears Trying To Claw Their Way In ApeCoin still managed to trade in an upward parallel channel despite the withdrawal in price seen close to the resistance level of $8.0. RSI shows a bit of retracement and in the event that RSI breaches below the half-line, the bears could potentially breach the parallel channel. On the daily chart, APE has dipped to 20 EMA or below 100 DMA but is trying to hold on positioning itself above 50 EMA. More so, APE coin price is seen to trade within an ascending parallel channel for over a month now or since July 13. The bears kept on clutching the token but the bulls are not taking it lightly and continuously trying to swing the token near the upper trendline. APE coin currently trades showing strong downward movement closing near the lower trendline of the ascending parallel channel. Now, APE coin must gain massive support from the bulls the soonest it gets into the trendline and hit reverse to prevent further dips below the channel.  Related Reading: Filecoin Cruises Near Resistance, Now Attempts For A Breakout APE total market cap at $2.09 billion on the weekend chart | Source: TradingView.com Featured image from AirdropAlert, Chart from TradingView.com

Crypto News

7 Best Altcoins Everyone is Talking About

Altcoins present some of the best opportunities in the crypto world and finding altcoins that investors are talking about can be a great way to determine which projects are likely to perform well in the coming months. Throughout this article, we’ll take a look at seven of the best altcoins that everyone is talking about and provide a guide detailing how to buy our top pick. Let’s begin. Top 7 Best Altcoins – Our Picks Sometimes an investor just needs a helping hand. Therefore, we’ve included an overview of the seven best altcoins below. More detailed reviews can be found in the next section. Lucky Block – Trending NFT Competitions Altcoin Tamadoge – Utility-Focused Meme Coin Making Waves Battle Infinity – P2E Gaming Ecosystem that Investors Love Chainlink – Well-Known Oracle Altcoin VeChain – Enterprise-Grade Blockchain Making Headlines Ethereum – Largest and Most Popular Altcoin Quant – Interoperability Focused Project Trending with Investors A Closer Look at the 7 Best Altcoins That Everyone is Talking About Each project that we’ll be taking a look at has strong fundamentals and has been making headlines recently due to increased demand, exchange listings, or high-profile partnerships. Lucky Block – Trending NFT Competitions Altcoin Lucky Block (LBLOCK) is an NFT competition platform that uses blockchain technology to improve efficiency and create a provably fair drawing system. Each competition on the Lucky Block platform is entered by purchasing an NFT. Each NFT is priced in accordance with the potential rewards from the competition. This allows Lucky Block to offer a wide range of competitions catering to players of all budgets. Even after a drawing has occurred, the NFT still grants the holder a portion of the profit pool each day. In addition to the standard competitions, Lucky Block also hosts a Platinum Competition for holders of the Platinum Rollers (PRC) NFT collection. This competition takes place weekly with prizes ranging from crypto to a real Lamborghini. Recently, Lucky Block was listed on the Uniswap exchange. With Uniswap being one of the largest decentralized exchanges (DEX) on the market, this means that demand for the LBLOCK token is likely to shoot up. Furthermore, as many people in the crypto space are familiar with Uniswap, it makes it much easier to purchase LBLOCK. On top of the recent Uniswap listing, LBLOCK was also listed on the centralized exchange (CEX) at the start of August causing the token to shoot up in value. These listings come following LBLOCK’s switch to the ERC standard. It has also made future CEX listings far easier, so keep an eye on the Lucky Block Discord to see what exchange will list LBLOCK next. Buy Lucky Block Now Tamadoge – Utility-Focused Meme Coin Making Waves Tamadoge (TAMA) is a meme coin unrivaled in terms of utility. The project has been experiencing massive demand with the beta presale hitting its $2 million cap almost a month early. Thankfully, the general presale has now begun with TAMA being sold for $0.0125. As tokens are sold, there will be marginal price increases to afford better value to early investors. The P2E Tamadoge ecosystem centers around NFT-based Tamadoge pets. In just a couple of months (Q4 2022), investors everywhere will be able to mint their own Tamadoge pet. Despite initially starting as a basic variation, players can improve their Tamadoge pet by giving food, toys, and cosmetic items from the Tamadoge store. As a pet levels up, its owner will receive Dogepoints, slowly working their way up the Tamadoge leaderboard. The highest ranked players are entitled to the largest share of the rewards pool. Every Tamadoge pet is 3D-animated and viewable within the Tamaverse (Tamadoge’s Metaverse world). The Tamaverse will initially be explorable on web browsers, but the team will release a mobile app with augmented reality functionality (expected Q4 2023) allowing players to bring their pets into the real world. With demand for Tamadoge skyrocketing, it’s no wonder that investors are discussing the project. Unlike the majority of presales, Tamadoge already has a confirmed CEX listing on LBank following the conclusion of the general presale. Therefore, it’s an excellent time to check out the project before prices climb higher due to increased demand. Join the Tamadoge Telegram group to keep up-to-date with the project. (admins will never message first). Visit Tamadoge Now Battle Infinity – P2E Gaming Ecosystem that Investors Love Battle Infinity (IBAT) is a project aiming to create an expansive play-to-earn gaming ecosystem featuring DeFi, NFT, and Metaverse elements. The project has recently concluded its presale raising 16,500 BNB however the IBAT token will soon be listed on PancakeSwap. Battle Infinity is broken up into the six following platforms, IBAT Premier League (a fantasy sports league), IBAT Battle Swap (a DEX), IBAT Battle Market (an NFT marketplace), IBAT Battle Games (a collection of P2E games), IBAT Battle Arena (a metaverse world), and IBAT Battle Stake (a staking platform). With the IBAT token using the BEP standard, it benefits from cheap, fast, and energy-efficient transactions, perfect for a DeFi gaming ecosystem. The token can be used for in-game bets, staking, and purchasing advertising space within the Metaverse world. In contrast to most new projects, IBAT has already been KYC-verified by CoinSniper and audited by Solid Proof. With the amount of utility offered by Battle Infinity, it is one of the cheapest cryptocurrencies that shows massive potential. Join the IBAT Telegram for listing updates. Visit Battle Infinity Now Chainlink – Well-Known Oracle Altcoin Chainlink (LINK) is a well-known altcoin that provides on-chain projects a simple way to access off-chain data. By creating a decentralized oracle network, Chainlink has cemented itself as a key part of the crypto ecosystem. The project has already partnered with several notable projects including Chiliz, Hedera, and Polygon. Chainlink benefits from massive intrinsic value, a first-mover advantage, and a plethora of high-profile partnerships. As such, it should be no surprise that it’s considered one of the best altcoins available today. VeChain – Enterprise-Grade Blockchain Making Headlines Vechain (VET) is a popular layer-1 network designed to be used by large companies needing enterprise-grade solutions. The project aims to work its way into real-world industries in order to provide companies with immutable data that can be used to improve efficiency and transparency, particularly when it comes to supply chain management. Vechain has been making headlines recently through its partnership with e-commerce giant Amazon. VeCahin also works with several government entities making its use case apparent. Ethereum – Largest and Most Popular Altcoin Ethereum (ETH) is the largest and most widely spoken about altcoin on the planet. The ERC standard several of the aforementioned projects use is based on the Ethereum network. Ethereum features smart contract capabilities which allow developers to create cryptos and dApps using the network. With Ethereum being the second largest cryptocurrency on the market and being used by countless projects, it’s unlikely to go anywhere anytime soon. Quant – Interoperability Focused Project Trending with Investors Quant (QNT) is a project aiming to connect blockchain networks and solve the interoperability issue. Many investors believe that for cryptocurrency to enjoy mainstream adoption, different networks must first be able to work with one another. Quant is designed to facilitate exactly that. With Quant boasting partnerships with Amazon AWS, Oracle, and several other large tech-focused companies, it seems like this altcoin could explode in the near future. How to Buy Lucky Block To ensure nobody has trouble buying LBLOCK, we’ve created the below guide. Step 1 – Register with an Exchange Ethereum is needed to buy LBLOCK. It can be purchased easily from a regulated exchange like eToro. Visit eToro Now Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection Step 2 – Deposit & Buy ETH After creating an account, press ‘Deposit Funds’, decide how much to invest, and press ‘Deposit’. Then, type ‘ETH’ into the search bar, press ‘Trade’, choose how much Ether to buy, and press ‘Open Trade’. Step 3 – Create MetaMask & Send ETH Afterward, download the MetaMask browser extension or mobile app and follow the on-screen instructions to create a wallet. Then, ensure it’s set to the Ethereum network and withdraw ETH from eToro via the eToro Money Wallet. Step 4 – Connect Wallet & Buy LBLOCK Next, navigate to DEXTools, click ‘Connect’, choose MetaMask, and confirm the connection. Search for the WETH or USDC / LBLOCK pair, enter the desired number of tokens, and press ‘Trade’. The tokens will arrive in MetaMask near-instantly. Buy Lucky Block Now    

Crypto News Ethereum

Ethereum Investors Close 300k Long Positions on Bitfinex, Rally To Stop Soon?

Data shows around 300k in ETHUSD long positions have been closed on the Bitfinex Ethereum futures market, something that could provide impedance to the latest rally. Ethereum Long Positions Have Dropped By More Than 300k During The Last Few Days On Bitfinex As pointed out by an analyst in a CryptoQuant post, the past data of the ETHUSD long positions on the crypto exchange Bitfinex would suggest the current pattern may prove to be bearish for the value of the coin. The relevant metric here is the total number of Ethereum long positions (ETHUSD pair) currently open on the Bitfinex exchange. When the value of the indicator is high, it means a bullish sentiment is more dominant among investors on the platform right now. Related Reading: Why Bitcoin At $100K Is Just A “Matter Of Time”, Says Bloomberg Intelligence On the other hand, low values could suggest whales on the exchange currently don’t believe the coin’s price is going to go up soon. Now, here is a chart that shows the trend in the ETHUSD long positions on Bitfinex during the past year: The value of the metric seems to have sharply declined in recent days | Source: CryptoQuant As you can see in the above graph, the quant from the post has marked the relevant points of trend for the ETHUSD Bitfinex longs during the period. It looks like whenever Ethereum long positions on the platform have observed a plunge down, so has the value of the crypto. This trend has taken place either immediately after the drawdown on the indicator, or some days following the fact. Related Reading: Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently The longest gap between the price plunge and the metric’s decline in the past year was back in March, where the crypto continued to rally for 18 days before forming the local top. In the past week, the Ethereum longs on Bitfinex have once again seen a sharp downwards move, amounting to around 300k such positions being closed. So far, the coin has continued to keep going up for around 6 days now. If the past pattern is anything to go by, then the current trend may mean ETH could observe a local top forming in the next 12 days. ETHUSD At the time of writing, Ethereum’s price floats around $1.7k, up 8% in the last seven days. Over the past month, the crypto has gained 40% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the price of the coin has been mostly trending sideways during the last few days | Source: ETHUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Crypto News

CryptoDickbutts NFTs Erect Nearly 700% In Daily Sales Volume 

CryptoDickButts (CDB) floor price has skyrocketed with the overwhelming support from popular influencers. CDB soared on Sunday, outpacing other well-known NFT collectibles with significant volume. CDB was able to land the 6th spot for the largest daily trading volume for NFTs on OpenSea. As of this writing, CryptoDickbutts has soared by a whopping 690% or roughly 290 ETH equivalent to around $495,000 surpassing leading NFT projects such as Art Blocks, Cool Cats, and Goblintown. CDB’s trading volume has remarkably increased by over 135% in the last seven days. The CryptoDickbutts is the brainchild of famous comic book artist K.C.Green. Created in 2006, the Dickbutts has become very popular over the internet as a meme shared over varied social media platforms. Related Reading: Decentraland Blooms In Green In Last 4 Days; Boosts Traders’ Appetite In MANA CryptoDickbutts Soars Following 3.8 ETH Farokh  Investment On CDB Dickbutts is a collection of over 161 NFTs which was hereinafter dubbed as the OG Collection rolled out in March 2021. This was then followed by a Series 3 composed of over 5,200 NFTs launched in August 2021. CryptoDickbutts NFT collection wowed everyone as its sales volume soared last week following the announcement of Farokh, Rug Radio host regarding his entry of 3.8 ETH or equivalent to roughly $12,000 into CDB. CryptoDickbutt is far from cheap as the most budget-friendly CDB NFT collectible you can find in Series 3 sells for about 3 ETH or roughly $5,100 as of press time, which has increased by over 31% overnight. This is remarkably the highest that CDB has ever reached which is up by 163% in the previous month. CDB Price Pump Triggered By Massive Influencer Support  In terms of NFT Floor Price, CDB still has a long way to go as it’s currently at the 34th spot, but with CryptoDickbutt’s spike, investor interest and demand has been revived. The meme culture is definitely at its strongest point now, most especially for CDB. While other NFT projects seem to have dwindled in popularity, CryptoDickbutts has emerged stronger than ever. This NFT project is under the CryptoDickbutt DAO, including popular personalities like ProbCause, Blondish, and Steve Aoki. Related Reading: Dogecoin Unseated From No. 10 Spot In Rankings – Can DOGE Stay Relevant? The price pump for CryptoDickbutts is a surprise but somehow Meltem Demirors, Coinshares Chief Strategy Officer, may have something to do with it. Recently, Demiros started this so-called emergency Twitter Spaces on Sunday. Apparently, Demirors mentioned, “The Dickbutt community has always been about one thing and one thing only, and that is the universal truth of one D equals one B… I also think that commenting on prices defeats from the overall objective here. Dickbutts are not about investing. Dickbutts are a culture.” CDB started out as a joke but is now taken seriously by the NFT community. CDB was able to strike partnerships and collaborations with Silver Jets and Naughty America, among others. Crypto total market cap at $1.11 trillion on the daily chart | Source: TradingView.com Featured image from Blockhead, Chart from TradingView.com

Crypto News

Despite Bear Market Uniswap Gains Significant Traction, What’s The Reality?

The past few weeks have brought a positive twist in the flow of events within the cryptocurrency market, especially for Uniswap. Lots of the crypto assets are gaining more value in their prices. This overturns after the severe crypto winter that puts lots of protocol at the edge. Most witnessed drastic price drops up to 50% since January 2022. The last chaos in the crypto space was better imagined than described. Additionally, the collapse of the algorithmic Terra stablecoin and its native token, LUNA, spiked the downward trend. Several investors lost millions of dollars, creating tension in the entire crypto industry. Some crypto service companies were thrown off balance as they struggled to be their ship afloat. Related Reading: This On-Chain Indicator Suggests Bitcoin Still Only 1/3rd Into Bear Market However, a few of them still went bankrupt with most of their depositors’ funds locked on their platforms. Some participants in the industry are beginning to lose confidence in digital assets as fear, uncertainty, and doubt gradually crept in. All seems to be going progressively well for Uniswap, as its native token, UNI, increases its price value. The strength of its price increase has put Uniswap in ranking by market cap among the top 15 cryptocurrencies. In addition, the Ethereum-based decentralized protocol has experienced a significant surge in value, reaching 150% over the past seven weeks. According to data from Santiment, an on-chain analytics firm, there has been an increased and substantial whale accumulation of the UNI tokens. This explains its recent price rally as well as the surging address activity. Santiment reported that the Uniswap daily active addresses have risen to over 1,100. With the presence of strong address activity on the network, the protocol has the potential to sustain the current price action. Uniswap Whale Addresses Push Positive Moves Uniswap whale addresses have shown a positive move since the crypto crash of May 2022. The addresses have accumulated vast amounts of UNI tokens ranging in massive percentages. In their performance, whale addresses containing up to 100 thousand to 1 million UNI tokens have undergone massive accumulation within the past two weeks. Also, Santiment noted that the level of transactions they deem to be prominent are those taking about $100,000 or more. It mentioned that such transactions are from the whales and moving back to those seen in May levels. Related Reading: Low Caps Like Uniglo (GLO) And Convex Finance (CVX) Likely To Make New Millionaires Alongside Bitcoin (BTC) So, it stated that all the recent significant transactions from the whales are noticeable. This is because such moves accumulated just in the past week before the price climbed to $9.69. Besides its price rally, Uniswap has increased its active average trader returns. It currently recorded over 22.5% in its 30-day MVRV. According to the report from Santiment, the current value is clearly above the danger zone. Despite Uniswap’s impressive price rally, Santiment has advised investors to tread with caution with the protocol. Featured image from Pexels, charts from TradingView.com

Altcoins

Will Uniswap and Optimism’s Massive Crypto Rallies Continue? Santiment Analyzes Top Ethereum Altcoins

Analytics platform Santiment is looking at two crypto assets recording triple-digit percent increases over a relatively short period of time. Starting with decentralized finance (DeFi) platform UniSwap (UNI), Santiment says that the crypto asset has appreciated by over 150% over a period of nearly two months. “Uniswap has been on quite the tear in the […]

The post Will Uniswap and Optimism’s Massive Crypto Rallies Continue? Santiment Analyzes Top Ethereum Altcoins appeared first on The Daily Hodl.

Crypto News

Polkadot Sets Sight On $9 As It Claims The 10th Spot On Crypto Top 10

Polkadot has been one of the breakout stars of 2022. The cryptocurrency has managed to thrive in a market where most digital assets are taking a beating and losing value rapidly. With its breach of $8, the cryptocurrency has taken another step as it cements its position as one of the largest contenders in the space, dethroning the beloved Dogecoin in the process. Polkadot Takes 10th Place Meme coin Dogecoin has been able to maintain its position in the crypto top 10 by market cap over the last couple of weeks. However, this changed this week with the recent Polkadot rally. The digital asset had more than 7% in the last seven days to bring its trading price higher than $8.5, and this pushed its already impressive market cap over the $9.4 billion mark. Related Reading: Here’s What Bitcoin Institutional Inflows Says About The Month Of July The result of this was that the market cap of DOT surpassed that of Dogecoin. Polkadot is now ranked as the 10th largest cryptocurrency by market cap, but that’s not all. Even as the market is recording a retracement, DOT remains one of the only cryptocurrencies to mark green over the last 24 hours and one-week timeframe. At the time of writing, DOT is currently trading at $8.52 with a 24-hour recovery of 6.15%. It’s interesting that the digital asset is trading this high, given that its trading volume is actually down. With $427 million in trading volume over the last day, it is down more than 8% in this regard. DOT trending at $8.3 | Source: DOTUSD on TradingView.com As a general rule, Polkadot looks to be following the recovery trend of Ethereum. This breakout in the largest decentralized finance (DeFi) network had spread to other networks, causing them to see the largest recovery during this time. DOT Eyes $9 The recovery in the price of Polkadot has set it on an incredibly bullish path. It has now hit important technical levels, which propose that the recent rally may still have some steam in it. Most prominent of this has been the digital asset’s climb above its 50-day moving average of $7.4. Related Reading: Bitcoin Miner Revenues Continue To Grow, Will This Put A Stop To The Sell-Offs? Since investors are willing to buy the cryptocurrency at higher prices, the buying pressure is mounting, especially as sellers experience fatigue during this time. Additionally, with the recent high rates of inflation, more investors are moving into the decentralized finance market in a bid to find suitable hedge for wealth. DOT also has some free range to grow, given that the next significant resistance point lies at $9. This price point is incredibly attractive for bulls as it puts DOT on a platform to contend for 9th place with DeFi competitor Solana. Featured image from Phemex, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…