Crypto Portal

2024-02-16 17:01:06 Ethereum Bulls Soar: ETH Price Predictions Point to $2.5K or $3K?

Ethereum has been on a rollercoaster ride, with its price range between $2116 and $2614 dominating the scene for the past couple of months. But things took an exciting turn on February 12th when the bulls closed the day at a whopping $2659, breaking through the ceiling.

What's behind this rally? One key factor could be the surge in active addresses, a metric that has historically accompanied bull runs. While we're not seeing a clear uptrend just yet, the gradual increase in active addresses since October 2023 suggests growing interest in Ethereum's network.

The derivative markets are also buzzing with optimism, as evidenced by the sustained rise in Open Interest. From $1.7 billion in early October, it has climbed to an impressive $6.74 billion by mid-February, indicating strong bullish sentiment among speculators.

As ETH surges higher, it's important to keep an eye on the liquidation levels. The breach of the $2730-$2835 zone, with potential liquidations ranging from $10 billion to $15 billion, signals both excitement and caution. A pullback toward $2000 wouldn't be surprising to clear out these liquidations.

However, it's not all smooth sailing for Ethereum. A move below $2500 would strengthen the case for a drop to $2000, while a dip to the $2500-$2600 range could present an attractive buying opportunity for those looking to join the ETH party.

So, is your portfolio turning green? With Ethereum's upward trajectory and market dynamics pointing towards further gains, it might be time to check out that ETH Profit Calculator and see where this rally takes you!

Disclaimer: This is not financial advice. Always do your own research before making investment decisions. Open / Comment

2024-02-13 22:30:34 Think Twice Before Jumping In: Bitcoin at $50K May Not Be the Best Bet

MVRV Ratio Signals Caution: Bitcoin's Market Value to Realized Value (MVRV) ratio is hovering at 14.31%, historically a sign of an impending correction. Don't let the $50,000 price tag blind you to potential risks.

OI Hits Two-Year High: Open Interest (OI) in Bitcoin futures has surged past $19 billion, indicating strong investor interest. But remember, aggressive buying can quickly turn into profit-taking.

EMA Crosses Favor Bulls: The Exponential Moving Average (EMA) suggests a bullish trend for BTC, with short-term indicators looking positive. However, the overbought RSI and MFI hint at a possible pullback.

Patience Could Pay Off: If you're eyeing quick gains, waiting for a more significant correction might be wise. A retracement to the $46,000-$48,000 range could present another opportunity to buy.

Remember, investing in cryptocurrencies always carries risks. Stay informed and make decisions based on careful analysis rather than FOMO-driven impulses. Open / Comment

2024-02-10 15:00:24 Bitcoin: The Bullish Surge and Accumulation Signals

Bitcoin is on the rise once again, with its weekly and daily charts painted green. CoinMarketCap reports a 9.5% increase in the past seven days, and a 3% surge in just 24 hours, bringing its value to $47,454.25 with a market cap of over $931 billion.

The coin's popularity is soaring, as seen from the spike in its social volume and the growing bullish sentiment surrounding it. Notably, the Super Trend on the monthly chart just flashed a buy signal, historically known for predicting BTC bull markets.

Santiment's data supports this trend, revealing a decline in BTC supply on exchanges and an increase in supply outside of exchanges. This suggests that investors are actively stockpiling BTC, as evidenced by the rising exchange outflow.

While indicators like Chaikin Money Flow (CMF) and MACD point to a continued uptrend, caution is warranted as the Relative Strength Index (RSI) approaches the overbought zone, potentially increasing selling pressure. Open / Comment

2024-02-07 16:01:56 How DOGE's Cult Status Keeps It Alive: The Retail Surge vs. the Whales' Worry

A Downturn, Yet a Following
Despite DOGE's recent dip in value, with a 23% drop from its December peak, the meme coin still has something to wag its tail about. The new year hasn't been kind either, with a 12% decline so far. But here's the twist: retail investors are still barking up this digital dog's tree.

Retail Roars, Whales Watch
While the big fish aren't biting, the little pups are flocking to DOGE. Over 413.8K new wallets have joined the pack in just two weeks, setting a record for this memecoin. The surge is especially noticeable among those holding between 0.001 and 1 coin. It seems DOGE's cult status is attracting a new wave of believers.

Whale Woes
But as we look beyond the retail frenzy, there's a hint of concern. The whales, those with over 1,000 coins, aren't joining the party just yet. Their lack of interest could be seen as a red flag for the long-term prospects of this digital canine.

While DOGE may not be fetching headlines for its price performance lately, its loyal retail following and cult-like appeal keep it wagging its tail in the crypto world. Open / Comment

2024-02-04 20:00:08 MakerDAO: DAI Supply Hits 18-Month Low, Brace for Impact?

DAI Supply Takes a Dive
The total supply of MakerDAO's decentralized stablecoin DAI has hit its lowest point since August 2023, as reported by MakerBurn data.

CDP Model at Play
This decline in DAI supply is a result of the protocol's Collateralized Debt Position (CDP) model, which acts as a self-regulating market.

Borrowing Becomes Pricier
When the value of assets backing DAI drops, the interest rates for borrowing on the platform soar. This deters new borrowers and prompts existing ones to repay loans swiftly.

A Bearish MACD, but Bulls Persist
While MakerDAO's native token MKR has seen some bearish signs with its Moving Average Convergence Divergence (MACD), it's important to note that demand remains steady.

Accumulation vs. Weak Bear Pressure
The Relative Strength Index (RSI) suggests that bulls are still accumulating MKR tokens, but caution is advised as the Awesome Oscillator (AO) shows weak accumulation pressure against a longer-term bearish sentiment.

In this delicate balance between bears and bulls, the market awaits the next move for MakerDAO and its resilient stablecoin DAI. Open / Comment

2024-02-01 16:30:25 Bitcoin Miners Adapt to Price Decline: No Capitulation in Sight

Despite Bitcoin's recent price dip following ETF approval, miner capitulation remains elusive, says CryptoQuant analyst Yonsei Dent.

Dent's analysis of the Hash Ribbon metric reveals no death cross, indicating miners are not yet scaling back operations due to low profitability.

Additionally, BTC's Miner's Position Index (MPI) suggests that we're not seeing the same level of miner selling as in previous bear markets.

While miners have indeed sold some BTC, this could be a strategic move ahead of future halving events rather than a sign of panic.

Data shows a slight decline in BTC Miner Reserve, potentially signaling increased sell-offs by network miners.

In the face of adversity, Bitcoin miners are showing resilience and strategic thinking, adapting to market conditions with an eye on long-term sustainability. Open / Comment

2024-01-29 18:00:49 GambleFi Insight: The New Frontier in Crypto!

In the last bull run, savvy investors made fortunes by getting in early on promising projects. Now, the spotlight is on GambleFi - where gaming meets DeFi, creating unprecedented opportunities.

Spotlight on Betix: A rising star in this arena is Betix. They're crafting a unique, no-KYC platform focused on sharing profits with both players and investors. Already drawing in hundreds of players even before its official launch, Betix stands out in the prelaunch phase. It's more than just a crypto casino; it’s an immersive experience where early enthusiasts are actively farming BETX airdrops, promising significant profit-sharing opportunities.

What's the Buzz About? Betix is soon launching its Seed Sale on Jan 30th on GemPad. What makes BETX, their utility token, stand out? It’s deflationary and integral to Betix Casino, offering a 20% discount from the DEX launch price.

Explore the Seed Sale on GemPad

Why Join the Hype? Early adopters and Seed Sale participants will receive $BETX token airdrops – a perk not to be missed. It’s about being part of something at the ground level.

Is Betix Your Next Big Move? With GambleFi heating up, Betix.gg appears to be a potential game-changer. Don't overlook this emerging gem in the GambleFi space.

Stay in the Loop: Follow @betixcasino on Telegram. Be part of their newly formed channel and stay updated with the latest from Betix! Open / Comment

2024-01-29 16:00:59 Timing Bitcoin’s next cycle top as 2024 halving nears

The basic answer might not be the whole truth
Avid crypto users would immediately respond that the Bitcoin halving cycle is timed on a four-year clock.

Liquidity is a key component to understanding the four-year cycle
When the economy is in a rough spot, securing funds for investment is more difficult. This means safer assets are in demand.

Is Bitcoin’s cycle top near?
The data showed that the next cycle’s top would be in Q4 2025, around September. This tied in well with a previous, fun experiment that AMBCrypto attempted using the Bitcoin Rainbow Chart. Open / Comment

2024-01-26 22:00:41 Solana launches new token extensions – Here are the details

Solana’s 13 token extensions
On 24 January 2024, the network unveiled its 13 token extensions. Except for confidential transfers, all extensions are currently available for use. Confidential transfers will become accessible once the network adopts version 1.17, anticipated by February 2024.

Why do Solana’s token extensions stand out?
Token extensions have varied use cases and can be tailored to cater to various industries, including stablecoins, real-world assets (RWA), and payments. Key features include transfer hooks, transfer fees, confidential transfers, permanent delegate authority, and non-transferability.

Adoption by industry giants
Industry leaders such as Paxos and GMO-Z com Trust Company Inc. (GMO Trust) are already leveraging these extensions to issue stablecoins on the Solana blockchain. Paxos, a leading regulated blockchain infrastructure platform, expanded its stablecoin issuance to Solana in December 2023. Open / Comment

2024-01-23 22:00:08 First week frenzy: Bitcoin ETFs shatter records with trading milestone

GBTC outflows
While the newly launched funds from companies such as BlackRock, Bitwise, and Fidelity have experienced inflows, billions of dollars in Bitcoin (BTC) have been withdrawn from Grayscale Bitcoin Trust (GBTC). This significant shift in investor preference is likely due to lower fees and greater liquidity offered by these new products.

A look at BTC inflows
Additionally, recent data from Lookonchain highlighted significant activity among major Bitcoin ETFs. The iShares Bitcoin Trust added 4,808 BTC (worth approximately $194.4 million) from Coinbase Prime, bringing its total holdings to 33,431 BTC (valued at around $1.33 billion) to date.

A surge in numbers
The remarkable ETF journey began on 11 January 2024, when the U.S. approved the trading of Bitcoin ETFs. On the first day of trading, the combined volume across all Bitcoin ETFs exceeded $4.6 billion. GBTC, after its conversion to an ETF, reported a volume of approximately $2.3 billion. Not far behind were IBIT with $1 billion and FBTC with $712 million in volumes. Open / Comment