Crypto News

Ripple (XRP) Plunges To $0.43 With Bears In Full Swing

Ripple (XRP) has plummeted to $0.43, with bears now skyjacking the market following a tremendous drop in the past week. While the price seems to have improved in the past couple of days, the bulls have somewhat shoved bears to their current market movement. The past week did not look suitable for Ripple traders and investors as XRP collapsed to a drop of 42% and closed at $0.4255. The entire week was seen to drift following a bearish movement which dropped to $0.4018 before it regained momentum to $0.4123 for the week. This indicates an oversold token that implores the potential of an uptrend. Suggested Reading | Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In Will Ripple Dash Towards A Bullish Streak? However, the token price is yet to produce a higher low and a higher high to authenticate the created moment, which in effect points out that bulls will have to nudge the price of XRP to $0.65 before it instigates a new bullish trend. XRP is expected to dash to a bullish trend as things go down. However, the bullish streak can be short-lived as a result of the current market situation. The technical oscillator’s value would show you that the token has ticked off the lows in the charts (hourly, daily, and weekly). It falls right under both the 50-day and the 100-day Exponential Moving Average. It is an escalation of the buying pressure that could ram the price to shoot, targeting the 50-day exponential moving average even before it tests at the $0.50 mark. XRP total market cap at $20.5 billion on the daily chart | Source: TradingView.com Ripple Price Descending For Good? In different circumstances, the drop of XRP indicating a bearish shift could trigger the coin to go on with a new downtrend. If XRP breaks under the current low value, it will test the low of $0.40. While every token strives for decentralization, Ripple wholly owns XRP and wants to be the coin that aims for bank adoption. Ripple is also a payment gateway as much as it’s a cryptocurrency. It’s one of the pioneering tokens in the crypto space created by Ripple Labs in 2012. Suggested Reading | Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming Ripple is the brainchild of Chris Larsen and Jed McCaleb. Four years after its launch, the company acquired BitLicense from New York to ensure that XRP remains robust despite the volatility. However, Ripple has dipped to 21% because of crypto turbulence and is still struggling to keep up with the pace. Featured image from YouTube, chart from TradingView.com

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Coinbase Introduces Coinbase Pay To Web3 Developers With MetaMask Getting The First Fruits

Coinbase Introduces Coinbase Pay To Web3 Developers With MetaMask Getting The First Fruits

Coinbase has introduced a new feature for its users to seamlessly fund their Coinbase wallet. Users can fund their wallets through the Chrome browser extension with relative ease. Coinbase is on a streak as it released its Non-fungible marketplace at the start of the month with a DApp wallet on the cards. Coinbase’s community is […]

Bitcoin Crypto News

LUNA Not Alone In Crimson: APE, AVAX, SOL, SHIB All Lose 20% In Crypto Crash

The crypto market has deep-dived to 11% in just 24 hours. It’s been in the hole or behind and most coins (led by LUNA) have been suffering major losses such as Avalanche, ApeCoin, Solana, and Shiba Inu, to name a few. So, what’s happening here? It’s like a ripple or domino effect that has hit one and is now derailing the rest of the cryptocurrencies.  Not Just LUNA  LUNA has lost 97% of its value following the major dip of UST stablecoin. The losses of other coins are not as massive as Terra but they have also suffered devastating double-digit losses over the 24-hour time frame. Suggested Reading | Shiba Inu Vs. Dogecoin And LUNA: Which One Will Survive The Crypto Carnage? Altcoins In The Red Most altcoins are in the red at this time. It’s a major blow in the crypto space and people are trying to analyze their cards. Avalanche has plummeted to 34% or under $32 and it even crashed below $28 which is far worse than its slump in August 2021. More so, Solana is now down by 26% which has further dropped to around $52 as of this writing. Luna is the cryptocurrency of Terra. Following the collapse of USDT or the dollar stablecoin, Luna also suffered a massive slump at 97% or below $1. BTC total market cap at $550.71 billion on the daily chart | Source: TradingView.com ADA of Cardano has also slid down by 16% or $0.56 displaying tremendous dips comparable to what transpired in February 2021. Additionally, Polkadot (DOT) has also crashed to around 24% over the past 24 hours, or about $9. Other tokens and meme coins are also extra volatile and dipping today like Dogecoin which is down 23% or $0.087 and Shiba Inu, which has lost over 27% in the past 24 hours. Meanwhile, ApeCoin is also falling rapidly and has scraped 37% off its market value over the past day with the current prevailing price at $5.90.  The price has now plunged to 85% compared to its winning streak of $39.40 following its launch in March of this year. Trouble In Metaverse? Even the metaverse is having trouble Decentraland and The Sandbox have plunged to 28% or $0.85 and 28% or $1.32, respectively. These metaverse gaming tokens were selling like hotcakes especially following Facebook’s switch to Meta but are now losing out on value. The crypto market has slumped by 11% in a quick span of 24 hours led by the king of cryptocurrencies, Bitcoin which suffered a dip of 6% or a price below $29,900. Meanwhile, Ethereum is also down to 8% or $2,180. Suggested Reading | Bitcoin Price Crashes Below $30K As Markets Show Signs Of Paranoia Featured image from Physics World, chart from TradingView.com

Crypto News

This Low-Cap DEX Altcoin Balloons 47% In The Face Of Crypto Market Stagnation

And everybody was saying keep an eye on this specific Altcoin and yes — Sifchain – and they were right.  Sifchain (EROWAN), a low-cap DeFi altcoin, skyrockets by 47% in the wake of the staleness in the general crypto markets. EROWAN has bounced from a low $0.114 on April 23 and is currently at $0.168. Suggested Reading | What’s In A Name? Ethereum Domain Name Sales Climb 2,300% What is Sifchain (EROWAN)? At the 271st level of all cryptocurrencies, SifChain has been on its seven-day high streak at 47%. SifChain is now at a price point that is above resistance; it may be nearing its volatility period once the rally is over. SifChain has been trading on low volumes over the course of seven days but it now has an extremely bullish sentiment score and is continuously rising. Many traders are anticipating the market behavior of Sifchain EROWAN as it has become a high-performing Altcoin despite the immobility of Bitcoin, Ethereum, and all other stablecoins. Altcoin Saves Investors From Egregious Fees Sifchain is the first-of-its-kind omni-chain decentralized exchange (DEX) geared towards digital assets and altcoins that enables liquidity, freeing investors from ridiculous trading fees and immature trades. Sifchain has set eyes on roughly 20 to 25 blockchains to facilitate cross-chain integrations. Crypto total market cap at $1.84 trillion on the weekend chart | Source: TradingView.com The only way for DAOs to be self-subsistent is to get their hands on enormous funding. Enabling cross-chain liquidity is important for continuity in the blockhain space. Sifchain is from the Cosmos Software Development Kit (SDK) and runs along others like Akash, Kava, and Terra in the Cosmos Network Blockchain network. EROWAN – 100x More Powerful Than ETH-Based DEXs With that being said, EROWAN is 100 times more powerful and robust compared to Ethereum-based DEXs when considering transaction speed and trading fees. As a DEX, Sifchain has the best of worlds in terms of order books and liquidity pools enabling solid order execution. Users are bound to leave a protocol once the APYs plunge which makes it very difficult to maintain its liquidity. Majority of protocols incentivize liquidity by way of annual percentage yields of APYs. Suggested Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout Now, the problem with keeping the APYs relatively high is that it results in casting aside the native token price. PMPT is the solution to this dilemma. PMTP’s goal is to pump up the ROWAN value so that the community would be encouraged to HODL which will beef up ROWAN liquidity for the long term. To do this, the ROWAN exchange rate is adjusted by small increments on the Sifchain. PMTP applies every time you swap. As the market value of ROWAN shoots up, the swaps also increase in value over time. Featured image from Medium, chart from TradingView.com

Bitcoin Crypto News Ethereum

Move Over Bitcoin – Is Shiba Inu The Next Crypto Gold?

Is Bitcoin ready to throw in the towel and allow Shiba Inu to snag its crypto gold status? Not likely. But, anything can happen. If you want a more reliable and stable trade then go for the kings of cryptocurrency, Bitcoin, and Ethereum. These two leading cryptocurrencies have been consistently moving on an upward trend for the past two years. However, Shiba Inu is getting more attention for its recent remarkable increase in market value at 0.12%. Was it just a lucky streak or is Shiba Inu primed to be the next crypto gold? Suggested Reading | Bitcoin Falls Back To $40,000 As Fed Mulls Faster Rate Bumps Shiba Inu Gains More Traction Why is Shiba Inu gaining that instant fame threatening the post of Bitcoin and Ethereum? Well, the Dogecoin killer Shiba Inu (SHIB) has performed way beyond the standards of a top-performing asset. The standard is around the figures of 2,000% or a little higher. However, Shiba Inu was able to surpass that in 2021. In fact, not even Bitcoin or Ethereum was able to reach that pinnacle of sorts. That humongous one-year gain by SHIB was enough for traders and crypto enthusiasts to compare Shiba Inu with Bitcoin and Ethereum.  SHIB total market cap at $13.50 billion on the weekend chart | Source: TradingView.com Suggested Reading | Shiba Inu Kicks Off Metaverse Project; SHIB Rallies 14% In The Last 7 Days Despite the criticisms and naysayers, SHIB was able to go beyond the expectations of many. What makes SHIB more robust than ever in 2021 is the fact that it has worked doubly hard to increase its visibility to its target market. SHIB has amassed great profits in the past two years. It was able to increase its market liquidity and capitalization. The popular vote on the SHIB fence has also increased its following and investors. In fact, the SHIB community has grown so rapidly to more than 1 million. SHIB – The Most-Searched Crypto in 2021 Shiba Inu is also regarded as the most-searched crypto last year. It has clearly outperformed Bitcoin in terms of popularity and market value. It might be an issue of having too much information regarding Bitcoin and Ethereum. Clearly, SHIB is enjoying the spotlight and looks ready to ‘bark’ louder. According to Google Trends, the demand for Bitcoin has died down a bit in the past couple of months. Shiba Inu has dropped to 4% which gives more opportunity for a buy-in before the prices go up. The token’s relative strength index (RSI) is now below 50. Buying SHIB now will help crypto aficionados have that vantage point once the prices rebound. Featured image from NDTV Gadgets 360, chart from TradingView.com

Bitcoin Crypto News

Bitcoin Continues To Slide As Macroeconomic And Geopolitical Anxiety Persist

Bitcoin sank to an intraday low of $39,714.69 on Friday, following a late surge above Wednesday’s critical resistance level of $41,500. BTC was down as traders braced themselves for the lengthy Easter weekend. Bitcoin – the world’s most sought-after digital asset – has fallen about $10,000 from a two-week high of $48,220, its highest level in over four months. However, following weeks of retreats, it looks as though market analysts have identified a stable floor at $39,300, with bulls now attempting to drive prices higher once more. Related Article | Bitcoin Price Plummets Below $40,000 As Crypto Market Tallies $440 Million In Liquidations Bitcoin Feeling The Pressure Concerns about macroeconomic and geopolitical concerns have lingered, keeping some investors away. Russian President Vladimir Putin stated during a news conference on Thursday that peace talks with Ukraine have reached a stalemate. Putin further vowed that Russia’s “military operation” will continue indefinitely. On a technical level, Bitcoin’s 200-day moving average significantly stymied the recent bull run, resulting in a large price fall. Bears currently control the market, and the price is rapidly declining, resulting in a break below the 50-day and 100-day moving averages. The $37K and $34K demand zones represent the next levels of Bitcoin support. If the price holds the short-term significant support level around $37K, it may resume its climb toward the significant resistance level at $45K. BTC total market cap at $752.41 billion on the daily chart | Source: TradingView.com BTC Could Touch $33K If this level is not maintained, Bitcoin’s next stop could be the $33K important demand zone. Bitcoin has lost more than 15% in the last week, prompting one indicator to declare that the market has entered a time of “severe anxiety.” The price decline occurs in the context of a broader downturn in global financial markets, prompted by geopolitical crises and uncertainty over the prospect of the US Federal Reserve tightening monetary policy. Related Article | Price Of Bitcoin Retreats Under $42,000 As Enthusiasm From Miami Event Fizzles Future Still Looks Bright Despite the current dismal performance of Bitcoin, a prominent trader believes that the cryptocurrency’s price might potentially double in the next two years. Peter Brandt made a prediction in response to a tweet from Tuur Demeester, a long-time Bitcoin supporter. According to the latter, following extended periods of consolidation, Bitcoin tends to erupt “like nothing else on this earth.” According to Brandt’s forecasts, Bitcoin may either double in value in two years or continue its streak of sideways trading for an extended length of time. A seasoned trader previously predicted that Bitcoin’s next “rocket stage” will begin in 2024, based on how prior market cycles have unfolded. Featured image from DataDriveInvestor, chart from TradingView.com

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One Ethereum Challenger Is Becoming an Unstoppable Beast, According to Popular Crypto Analyst

A popular crypto analyst says one of Ethereum’s top rivals appears to be unstoppable. In a new strategy session, the host of financial education YouTube channel InvestAnswers discusses the hot streak that decentralized stablecoin issuer Terra (LUNA) has been on over the past two months, and highlights the project’s structural links to Bitcoin (BTC). “There’s […]

The post One Ethereum Challenger Is Becoming an Unstoppable Beast, According to Popular Crypto Analyst appeared first on The Daily Hodl.

Altcoins

Cardano Witnessing Institutional Demand As Large Transactions Skyrocket: Analytics Firm IntoTheBlock

A leading crypto analytics firm says institutional investors appear to be buying bulk into global payments platform Cardano (ADA). In a new tweet, IntoTheBlock says that the volume of ADA’s on-chain transactions greater than $100k has increased by 50x in 2022 alone. “Yesterday, a total of 69.09 billion ADA were moved in these large transactions, […]

The post Cardano Witnessing Institutional Demand As Large Transactions Skyrocket: Analytics Firm IntoTheBlock appeared first on The Daily Hodl.

Crypto News Ethereum

Outflows Remain The Order Of The Day As Ethereum Crosses $3,300

Ethereum has now cemented its position above the hard-won $3,000 level. This signals another bull rally for the digital asset given how the market has responded to its recent surge. More money is coming into the digital asset daily as investors clamor to take part in the gains. This is evidenced by the exchange inflows and outflows, which show a clear buy and accumulate trend on the part of these investors. Ethereum Outflows Grow For the past week, Ethereum, like its counterpart Bitcoin, has been on an outflow trend. This trend saw more of the digital asset leaving exchanges than have been coming in. Glassnode Alerts makes daily reports of exchange inflows and outflows, showing that Ethereum investors are choosing to remove their coins off exchanges, presumably to safer, personal wallets. Related Reading | Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining In the one-week time frame, daily exchange outflows had consistently been above that of inflows. In total, there was a total of $5 billion worth of Ethereum that were moved into exchanges in one week. Compared to this is outflows, which came out at $6 billion in total leaving exchanges. This translates to 20% more ETH leaving exchanges than those being moved in to be too sold. 🚨 Weekly On-Chain Exchange Flow 🚨#Bitcoin $BTC➡️ $7.3B in⬅️ $7.7B out📉 Net flow: -$474.3M#Ethereum $ETH➡️ $5.0B in⬅️ $6.0B out📉 Net flow: -$1.1B#Tether (ERC20) $USDT➡️ $5.6B in⬅️ $4.9B out📈 Net flow: +$722.7Mhttps://t.co/dk2HbGwhVw — glassnode alerts (@glassnodealerts) March 28, 2022 It shows that investors have been accumulating their tokens over the past week. However, there has been a break in this streak recently. As markets open on Monday, ETH has seen this accumulation trend turn. Glassnode Alerts reported in the early hours of Monday that exchange inflows had topped that out of outflows. On the daily chart, exchanges saw $441 million worth of ETH flow in, while only $418 million of ETH flowed out, recording a net flow of +$22.8 million. There is no telling if this is the new trend as it is too early to tell. However, this makes sense given that investors who have been holding through the period of consolidation would want to realize some profits given that the price is up significantly. ETH On The Charts As expected, Ethereum has had one of the best runs out the weekend rally. The digital asset which had been struggling to hold above $3,000 finally got the boost it needs to shed the impacts of the bears. This pushed it high with a soft landing above $3,300. ETH breaks above $3,300 | Source: ETHUSD on TradingView.com With this recent move, trends for the digital asset in the short term have all turned bullish. Buy pressure has cranked up to 92% on investors as the cryptocurrency prepares to test the next significant resistance which lies above $3,500. Related Reading | TA: Ethereum Gains Traction, A Strengthening Case For More Gains At the time of this writing, Ethereum is trading $3,324 with a market cap of almost $400 billion. Featured image from Admiral Markets, chart from TradingView.com