The CEO of the on-chain analytics firm CryptoQuant has explained how the Bitcoin whales have been showing a shift in their Realized Cap recently. New Bitcoin Whales Are About To Overtake Old Ones In a new post on X, CryptoQuant CEO Ki Young Ju has discussed the recent trend in the Realized Caps of the new and old Bitcoin whales. The “Realized Cap” here is a model that calculates the total valuation of Bitcoin by assuming that each coin’s ‘true’ value in circulation is the price at which it was last transferred or sold on the blockchain. The last transfer of any coin is likely the last point at which it changes hands, so the price at its time could be equated to its current cost basis. As such, the Realized Cap measures the sum of the cost basis of the BTC supply. Or, put another way, this metric keeps track of the total amount of capital the investors have put into BTC. In the context of the current topic, the version of the Realized Cap that’s of interest is limited to just two segments of the market: the new and old whales. Whales refer to entities carrying more than 1,000 coins in their wallets. This cohort is divided into two based on age using a 155-day cutoff. All whales bought within the past five months belong to the short-term holder or new whale cohort, while those who have been holding for longer than this duration are called the long-term holder or old whales. Now, here is a chart that shows the trend in the relative percentages of the Realized Cap contributed by these two Bitcoin groups: As the above graph shows, the Realized Cap of the new Bitcoin whales wasn’t anything significant before 2018, indicating that veteran capital was king on the network. Following 2018, though, the percentage dominance of this group gradually started to show an improvement. And this year, the growth in the Realized Cap of this cohort has blown up, with the metric’s value now sitting at $108 billion. For perspective, the indicator is standing at $113 billion for the old whales, which suggests the disparity between the two almost nonexistent. “Bitcoin whales are experiencing a generational shift,” notes Young Ju, based on this trend. “Realized Cap of new whales is expected to surpass that of older whales soon.” As for the sudden sharp growth in the Realized Cap of the new whales, it’s likely that the inflows into the spot exchange-traded funds (ETFs) have been falling in this category. BTC Price At the time of writing, Bitcoin is trading at around $62,200, down more than 2% over the past week.

SUI has been one of the few assets that appears to be having a lone bull run despite the struggle of certain cryptocurrencies in the market to reclaim their major highs. Over the past month alone, SUI has increased by more than 100%, with its 7-day performance still seeing green up by 11.8% after nearly touching its all-time high of $2.17 yesterday with a 24-hour high of $2.13. Although the asset is currently facing a price decline down by 4.3% in the past 24 hours with a current trading price of $1.99, a prominent crypto analyst known as CryptoBullet has taken to his X account to address investors on whether now is the best time to sell SUI. Should You Sell Your SUI Now? While it may seem tempting for some to sell during this price dip, CryptoBullet suggests otherwise. The analyst noted, “I know it might be tempting to sell SUI here, but it’s the wrong timing imo [in my opinion].” The analyst explained that the crypto is experiencing its fourth test of the $2 level, a key technical point, adding that “the more times a level is tested, the more likely it is to break.” CryptoBullet believes this could indicate a bullish breakout, pointing to the formation of a Cup and Handle pattern. Additionally, CryptoBullet highlighted some of SUI’s achievements that could further propel its bullish case. These include a market cap that nearly reached $6 billion, a transaction per second (TPS) rate exceeding 1,000 for the past three days, and SUI ranking as the second-largest non-EVM chain by total value locked (TVL) at $1.08 billion. Strong Growth Ahead For Ecosystem? Another crypto analyst known as ‘Easy’ on X echoed CryptoBullet’s optimism, comparing SUI’s potential to Solana’s meteoric rise in 2021. According to the analyst, “Sleeping on SUI is like sleeping on SOL in 2021.” He emphasized that SUI’s metrics, including TVL and trading volume, are showing strong growth, which could indicate that the crypto is poised for a significant bull run. The analyst also noted the rise of memecoins on the network, with some tokens seeing a minimum 250% increase in value over the last 24 hours. It is easily concluded by expressing confidence in SUI’s future growth, suggesting that the current price could be a “steal” for long-term investors. He revealed plans to accumulate more SUI on market dips, setting an ambitious price target of $10 for the asset. Featured image created with DALL-E, Chart from TradingView

According to Goldman Sachs, Bitcoin (BTC) price appreciation in 2024 failed to compensate for its price volatility risks. Meanwhile, gold’s higher risk-adjusted returns reaffirmed its “safe haven” narrative. Despite The Gains, Bitcoin Fails To Outshine Gold The leading digital asset by reported market cap surged from roughly $42,000 at the beginning of the year to as high as $73,000 in March 2024, recording more than 73% gains. At its current market price of $62,790, BTC is still more than 40% up from its price in January 2024. Notably, throughout 2024, Bitcoin has consistently outperformed major equity indices, fixed-income instruments, gold, and crude oil. However, according to data tracked by Goldman Sachs, despite BTC’s impressive gains, its price performance in absolute terms fails to compensate for its volatility. The analysis by Goldman Sachs puts BTC’s year-to-date (YTD) volatility ratio at just under 2%. In comparison, gold gave a risk-adjusted return of 3%, posting strong 28% gains in absolute terms. For the uninitiated, the volatility ratio measures the return an asset generates for each unit of risk or volatility it carries. A higher ratio indicates that an asset provides better returns relative to the risk taken, while a lower ratio suggests less efficient performance. The analysis notes that Bitcoin’s volatility ratio was only better than Ethereum’s native ETH token, S&P GSCI Energy Index, and Japan’s TOPIX index among the non-fixed income growth-sensitive investments. Bitcoin’s low volatility ratio compared to gold cements the latter’s claim as a “safe haven asset.” This came under the limelight last week when BTC slumped, and gold surged following Iran’s offensive against Israel. Still A Long Way To Go For Bitcoin Since its inception following the 2008 financial crisis, Bitcoin’s ascent to a trillion-dollar market cap asset has been remarkable. The fixed supply of 21 million, decentralized network architecture, and halving every four years make BTC an appealing asset. However, the market cap gap between Bitcoin and gold remains vast. That said, several crypto analysts are confident that Bitcoin will outperform the shining metal in the coming years. For instance, seasoned analyst Peter Brandt recently made an ambitious prediction that by 2025, BTC could see its price jump 400% relative to gold. Similarly, in August 2024, VanEck CEO Jan van Eck stated that BTC could surge to $350,000 on the back of greater adoption. Most recently, investment management firm BlackRock declared Bitcoin a “gold alternative” due to its fixed supply and increasing investor confidence in its ability to tackle inflation and avoid value erosion during uncertain times. On the contrary, billionaire Ray Dalio has expressed his opinion on the Bitcoin vs. gold narrative, saying that BTC will never fully replace gold. BTC trades at $62,790 at press time, down 2.3% in the last 24 hours.

Ethereum (ETH) has seen significant volatility in recent weeks, dropping from a one-month high of nearly $2,730 at the end of September to around $2,400, raising concerns about the medium-term price sustainability of the second-largest cryptocurrency by market capitalization. Ethereum Rally To $6,000 If $2,300 Support Holds Ethereum has fallen 7% in the past two weeks, with a key support level now at $2,300. This support is crucial for bullish investors hoping for a resurgence that could push ETH to new all-time highs. According to technical analyst Ali Martinez, this moment is pivotal for Ethereum’s future price trajectory. Martinez suggests that if ETH can maintain its support above $2,300, a rally toward $6,000 might be on the horizon. Such a surge would significantly increase, surpassing Ethereum’s previous all-time peak of $4,878 in November 2021. If this bullish scenario plays out, it could translate to a substantial 150% increase from current trading levels. Conversely, if Ethereum fails to hold above the $2,300 support level in the short term, Martinez warns that ETH’s price could drop to around $1,600. This would signify a decline of nearly 34% from current levels, exacerbating the losses experienced during previous market corrections on August 5 and September 6, when ETH fell by more than 20% on each occasion. The potential loss of the $2,000 mark would also be particularly significant, marking a psychological barrier that has not been breached since November 2023. This time frame corresponds with a broader market uptrend that continued until the end of the first quarter of 2024, underscoring the importance of the $2,300 support level for Ethereum’s bullish outlook. ETH Underperforms Broader Crypto Market In addition to the absence of bullish catalysts for the second-largest cryptocurrency in the market, CoinGecko data indicates a notable lack of investor engagement. Over the past 24 hours, Ethereum (ETH) recorded a trading volume of only 5%, amounting to $14 billion. Moreover, Ethereum is currently underperforming compared to the broader cryptocurrency market, which has risen nearly 3%. In contrast, ETH’s price has declined by almost 6% over the past week, with losses exceeding 2% in the last 24 hours. This price stagnation may be linked to losing key moving averages (MAs) over the past two weeks. The 50-day MA is currently positioned just above ETH’s trading price at $2,459, as illustrated by the blue line in the ETH/USDT daily chart below, which currently acts as a resistance for the token. Overall, ETH must maintain support above the $2,300 level. Additionally, the token needs to identify a bullish catalyst that could drive its price back above previously lost levels and target the next significant milestone at $3,000, a threshold that has not been reached since early August. Featured image from DALL-E, chart from TradingView.com

Canary Capital has filed for spot XRP ETF with the U.S. SEC. The firm became the second to pursue the product after Bitwise. Canary Capital, a digital asset investment firm, has officially filed a registration for a spot XRP ETF with the U.S. Securities and Exchange Commission (SEC). The firm initiated this move a week after Bitwise filed its own S-1 registration for an XRP ETF. Canary Capital became the second firm to pursue the product this month. The filing was staged against the backdrop of the ongoing legal battle with Ripple Labs and SEC regarding the classification of XRP. Canary Capital founder Steven McClurg stated that the factors driving the firm’s XRP ETF filing are the appreciative regulatory landscape and the increasing investor interest in cryptocurrencies beyond Bitcoin (BTC) and Ethereum (ETH). Moreover, investors are seeking access to advanced blockchain solutions like XRP. Besides, a federal judge’s decision that Ripple’s institutional sales of XRP were unregistered securities offerings in July 2023. It declared that the secondary sales of Ripple’s XRP did not classify as securities transactions. However, Ripple was ordered to pay a $125 million penalty, a massive cut from the expected $2 billion demanded fines; this caused a dip in XRP’s price. On the other hand, XRP followers have initiated a petition, “Stop the SEC’s Unnecessary and Frivolous Appeal in the Ripple v. SEC Case.” They had collected over 8.3K signatures, aiming for a total of 10K signatures. Price Momentum of XRP The current price action of XRP is likely to be in the bearish zone. Over the past 24 hours, the asset has experienced a moderate spike of 0.65%. It has observed high and low prices at $0.5216 and $0.5341, respectively. At press time, XRP traded at $0.5333. Meanwhile, XRP’s daily trading volume has plunged over 19.40% to $906 million, as per CMC data. If the asset could attempt an upward correction, it might likely test the resistance at $0.5563. On the other hand, XRP could bottom to the nearest support level in the $0.5150 range if the momentum reverses. Highlighted Crypto News Coinbase Now Enables Bitcoin Transfers to Taproot Addresses

Taproot enables advanced smart contracts and supports Bitcoin-native tokens like BRC-20. Coinbase’s Taproot integration supports the advanced “bc1p” Bitcoin address format. Coinbase has officially integrated support for sending Bitcoin to Taproot addresses, enhancing user transaction capabilities. This integration comes as Taproot, a significant Bitcoin upgrade from 2021, gains more traction for its efficiency and privacy benefits. The upgrade not only improves Bitcoin’s transaction performance but also facilitates the deployment of advanced smart contracts. With Coinbase’s latest update, users can now send Bitcoin directly to Taproot (Pay-to-Taproot) addresses, a move that broadens the scope of on-chain transactions. The Taproot protocol enhances privacy by making complex transactions, like those involving multi-signature agreements, indistinguishable from simple ones on the blockchain. This is a crucial step for Coinbase as it ensures a smoother user experience while aligning with the latest innovations in Bitcoin technology. Taproot Powers Bitcoin Smart Contracts The Taproot upgrade also introduces advanced capabilities such as the support for Bitcoin-native tokens like BRC-20. Additionally, it powers protocols like Ordinals, which enable the inscription of unique data onto the Bitcoin blockchain, similar to NFTs. This not only opens new avenues for using Bitcoin but also strengthens the privacy of transactions by masking transaction complexity. Taproot, activated in November 2021, is designed to enhance Bitcoin’s privacy by introducing a new address format that begins with “bc1p.” This format allows complex transactions to appear like ordinary ones, compared to the previous “bc1q” address format. The result is an added layer of privacy and security for users conducting advanced transactions. The significance of Taproot’s integration on Coinbase is far-reaching. By adopting this upgrade, Coinbase provides users with a more secure and private way to handle their Bitcoin transactions. Taproot’s privacy feature ensures that details of complex transactions remain hidden, contributing to better overall blockchain confidentiality. Highlighted Crypto News Today Crypto.com Sues SEC Over Claims of Unregistered Operations

The FTX token recorded a 10.18% drop in price in the last 24 hours. Former FTX executive Ryan Salame began his prison term on October 7. Satoshi Nakamoto’s identity and the HBO documentary are the day’s talks for the crypto community. The HBO documentary has attempted to uncover the true identity of the creator of Bitcoin. Meanwhile, Ryan Salame, the former FTX executive’s 7-and-a-half-year prison sentence began in the past day. In reflection, the FTX token has shown significant drops in the last 24 hours. The token recorded a 10.18% drop despite a brief attempt at recovery. At the beginning of the day, FTT traded at $2.48, however in the progressive hours, bearish candles took over. At the time of writing, FTT was trading at $2.24 as per CMC data. Moreover, in the past month, the altcoin has shown intriguing price activities fueled by the exchange’s anticipations around repayments and reorganization plans. On inferring its weekly price charts, FTT shows a 3.95% price increase. This results from the past few days of surge in prices. Notably, on October 7, the token hit a 269-day high of $3.43. FTT/USDT Daily Price Chart (Source: TradingView) Additionally, the token’s RSI stands at 59.04 indicating neutral market sentiments. However, the FTX token briefly visited the overbought situation in the past few days as per TradingView data. Meanwhile, as aforementioned, FTT has shown high volatility as indicated by the RVI standing at 50.53. What Does FTX Executive Ryan Salame’s Imprisonment Entail? The former executive of FTX exchange, Ryan Salame pleaded guilty to making millions of dollars from unlawful campaign donations. The executive received a prison sentence of seven and a half years in May. His prison sentence began on October 7, for which Salame has expressed surprising enthusiasm. According to sources, the former executive believes that the imprisonment would be an ‘exciting’ experience. Meanwhile, the FTX exchange recently received approval from a US bankruptcy judge for its reorganization plan. Previously, in August the exchange also got its $12.7 billion repayment plan approved by the US court. Highlighted Crypto News Today: Crypto.com Sues SEC Over Claims of Unregistered Operations

Crypto.com has filed a lawsuit against the SEC following a Wells Notice. The lawsuit claims that the SEC is overstepping its regulatory authority by classifying most crypto transactions as securities. After receiving a Wells Notice, Crypto.com is pushing back against the U.S. Securities and Exchange Commission (SEC). According to the report, the crypto exchange filed a lawsuit against SEC, Chair Gary Gensler, and its four commissioners alleging that the federal agency is overstepping its jurisdiction by regulating the crypto industry. Also, the lawsuit, filed by Crypto.com and its CEO, Kris Marszalek, claims Further, Crypto.com argues that the SEC’s actions have negatively impacted over 50 million American crypto holders. What Led to the SEC Sending a Wells Notice to Crypto.com? On August 22, 2024, the Securities and Exchange Commission issued a Wells notice to Crypto.com, indicating they plan to recommend enforcement action against the exchange. The notice claims the exchange may have operated as an unregistered broker-dealer in its crypto transactions. They also stated that some network tokens sold on the platform qualify as “Crypto Asset Securities” (except for Bitcoin (BTC) and Ethereum (ETH)) under the Securities Act and Exchange Act. The SEC has been overseeing the crypto sector with various enforcement actions, which companies like Crypto.com, Binance, and Coinbase are challenging. In addition to the lawsuit, Crypto.com has filed a petition with both the SEC and the Commodity Futures Trading Commission (CFTC), seeking clarification on the regulation of certain cryptocurrency derivatives. The outcome of this legal battle could significantly influence the future of crypto assets in the U.S.

Established cryptocurrencies like Cardano (ADA) and Ripple (XRP) set their eyes on the price of $5 by 2025, in a new cryptocurrency that has captured the attention of analysts and investors the most: Rexas Finance (RXS). Currently priced at more than $0.10, it seems some investment proprietors are artistic in thinking Rexas Finance could pump to a staggering $17 by 2025 even with its relatively new approach to asset tokenization. The Rising Star: Rexas Finance (RXS) Rexas Finance (RXS) is not an ordinary altcoin that most people are used to. It revolutionizes in a way in which it permits someone to own a fraction of a real-world asset, in this case a real estate property. A variety of asset classes such as real estate, commodities, fine art,, and other high-value assets can be tokenized and made available for purchase through its Platform, This paradigm shift in asset ownership enables even ordinary people to participate in these markets which were previously all closed to the majority, without the need for a lot of money to invest. Recent Presale Success Rexas Finance’s recent presale has been nothing short of remarkable which once again shows the growing confidence repose by the market for the project. After the completion of its third presale stage whereby 30 million tokens were sold, Rexas Finance has moved to stage 4 where tokens are going for $0.06 each. The zeal at these earlier stages has been phenomenal as a lot of people are in a hurry to buy up their worth of RXS tokens before the price even goes higher.Indeed, to date, Rexas Finance has made a remarkable amount of up to 2.75 million US dollars in several presale phases which has seen the company selling 65 million tokens in the process from stage one to stage three. The speed at which these funds have been acquired and the pace at which these tokens have been sold is indicative of how much interest the investors have and the confidence they have in the platform in the years to come. What Is The Problem That Rexas Finance Is Seeking To Address At its core, Rexas Finance seeks to address several existing problems that investors and asset holders are encountering presently. High Barriers to Entry: Real estate investing opportunities or even fine art investing opportunities are usually only available to those individuals with a high number of zeros in their bank since they are very capital intensive. Rexas Finance attempts to mitigate this problem caused by high capital by adopting fractional ownership of tokenized assets lets any user buy a small stake of the large assets therefore enabling a larger population in high worth markets. Liquidity: There is an increase in liquidity in regard to tokenized assets because fractional tokens can be bought and sold in exchange markets easily. If an individual owns an asset that is split into various portions and represented by fractional ownership tokens, it is no longer necessary to wait until that asset is entirely sold to realize any values on it. This enhanced liquidity is unprecedented compared to other investments in assets. Transparency and Security: In the case of Rexas Finance, blockchain technology is utilized because it helps foster secure, traceable, and immutable transactions. The deployment of smart contracts also assists in the speedy completion of transactions by eliminating risks associated with human intervention and making transactions faster and safer. Regulatory Compliance: Rexas Finance also considers regulatory compliance for the tokenized assets inasmuch as compliance requirements for institutional investors can be adhered to without worrying about scrutiny. Innovative Features: QuickMint Bot and More One of the key selling points of the Rexas Finance platform is the QuickMint Bot which expedites the creativity of tokens. The bot is available on several social media platforms including Telegram and Discord making it possible for users to mint out new tokens with simple commands. This process is simple whether one is a crypto enthusiast with vast experience or a novice in the industry thus giving all those who wish to develop and issue their own tokens a swifter and more comfortable experience.Rexas Finance even offers a dynamic Launchpad for young businesses soliciting investments or seeking to convert their assets through a token offering. The launchpad serves to reduce the costs of attracting investments and facilitate the implementation of new ideas on the blockchain. Reasons why Rexas Finance may reach $17 by the year 2025 It is still in the pre-sale stage with the price of $0.06 but many people consider it possible for members to use the platform and make $17 by 2025 and here’s why. Tokenized Ownership Will Be Mass Adopted: Rexas Finance has potential growth as it intends to be a tokenizing platform for all markets including those that are being adopted to tokenization; for example real estate, fine art, and online services. Its model of offering tokenized investments in multiple assets provides it with good market share in well established and fast-growing market. Further Growth of Fractional Ownership: As high-value markets are being opened up to general public investors, the platform will also expect exponential growth in demand for Rexas Finance and other similar platforms. This in turn means that as more users join in the uptake of RXS tokens and more assets are tokenized, the price of the tokens could raise quite considerably. Prompt Presale: Successful completion of this presale has already shown that there is interest in the investment opportunity. With millions of dollars already raised and most of the tokens selling quickly, the project has enough resources to ensure that it carries out its course effectively and brings fruitful gains to those who invest early in the project. Conclusion In light of Cardano (ADA) and Ripple (XRP), setting their sights on the $5 mark by the year 2025,those in search of investment with a potential to return greater than this in investment should look out for Rexas Finance (RXS). Available for merely $0.06 in its current presale stage, Rexas Finance consists of the realizable strong-held features assisted market outlooks and community, targeting the ever-hiked price ambition of $17 by the year 2025.Becoming one of the prominent players in the blockchain ecosystem is Rexas Finance who is tackling the major problems related to asset ownership and innovating the tokenization areas. As far as investors are concerned, Rexas Finance is likely the altcoin that could change their spans of life for the good when the next valuable opportunity knocks. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research.

At the recent Token2049 event, the Sui Foundation made a significant announcement regarding the imminent support for native USDC on the Sui network. Currently, NAVI stands as the top DeFi protocol on Sui, with $120M in USDC liquidity. This constitutes the 3rd largest USDC supply in the industry, next to Aave and Compound. As the inaugural liquidity protocol on Sui, NAVI will integrate Circle’s native USDC asset on DAY 1. As more blockchain networks adopt USDC, with Sui being the latest addition, the role of permissionless composability—one of the fundamental principles of Web3—becomes increasingly important. This principle has fueled the rapid expansion of new applications and blockchain networks by leveraging existing open technologies. The integration of Circle’s USDC stablecoin directly into the Sui network enhances capital efficiency and improves the user experience across several dimensions. This milestone strengthens Sui’s standing in the blockchain industry, and NAVI will fully support native USDC by offering a suite of migration features and a capital-efficient native USDC Liquidity Pool. Native vs Bridged USDC on Sui Native USDC offers distinct advantages compared to bridged USDC (wUSDC). Native issuance guarantees that the asset is fully reserved and can always be redeemed 1:1 for US dollars. This adds a layer of trust for developers and users alike, who can rely on the integrity of the underlying asset. The introduction of native USDC to the Sui network simplifies transaction processes and enhances liquidity within the ecosystem. Users will now have the ability to access USDC directly on Sui, which streamlines workflows and increases overall value for participants. Moreover, with the adoption of Cross-Chain Transfer Protocol (CCTP), users can eliminate delays typically associated with bridge withdrawals, thereby establishing a new standard for blockchain efficiency. Native USDC available on NAVI In its pursuit to provide the highest level of asset composability on the Sui network, the NAVI Protocol will fully integrate native USDC as a lending and borrowing liquidity pool. As part of a broader ecosystem initiative, NAVI aims to incentivize users to transition away from bridged USDC and adopt native USDC entirely. To facilitate this shift, NAVI will introduce several in-application features designed to streamline the transition, including native USDC liquidity support, flash loan capabilities, and other functionalities. A comprehensive migration plan will be shared in the coming days, outlining the steps necessary for a seamless transition. This complete migration is poised to significantly enhance the user experience and promote wider adoption of the Sui ecosystem. Conclusion The introduction of native USDC on Sui represents a substantial upgrade over the bridged version, offering enhanced functionality and a superior user experience. NAVI Protocol is committed to delivering the best possible experience for lending and borrowing, which includes the integration of native USDC, fully backed by US dollars and redeemable on a 1:1 basis. The upcoming migration plan is expected to accelerate the adoption of native USDC, thereby contributing to the growth and improvement of the Sui DeFi ecosystem. Contact: Ivan Djordjevic [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

As Bitcoin is currently still struggling to reclaim major highs, a recent analysis of its fundamentals has highlighted a possible buying opportunity for Bitcoin based on insights from the Non-Realized Profit metric. A CryptoQuant analyst known as Darkfost highlighted this metric’s importance in a recent post on the CryptoQuant QuickTake platform, mentioning what its trend means for investors. According to the analyst, the Non-Realized Profit metric offers a window into the unrealized gains or losses held by Bitcoin investors, which can influence future market movements. Understanding The Current Zone In Non-Realized Profits The Non-Realized Profit metric is often used to calculate the difference between the current price of Bitcoin and the price at which each coin was last moved, without accounting for coins that have been sold. High values in this metric suggest that investors hold significant unrealized profits, which could lead to increased selling pressure as they may choose to realize these gains. Conversely, negative values indicate that many investors hold positions at a loss, potentially signaling a market bottom and a favourable entry point for new investors. According to the CryptoQuant analyst, the Non-Realized Profit metric is mostly in the negative zone. This situation implies that many Bitcoin holders are either at break-even points or experiencing unrealized losses. Historically, such conditions have been associated with market bottoms, where the asset is considered undervalued. This scenario could present a strategic “opportunity” for investors looking to enter the market or increase their holdings. According to Darkfost, what sets the current market apart is that the unrealized profits have reached unprecedented highs compared to previous cycles, even while in the negative zone. This anomaly suggests that the ongoing market cycle may differ from past Bitcoin patterns. The analyst cautions that while this could lead to unique investment opportunities, it also introduces potential risks due to the deviation from established trends. Bitcoin Continuous Struggle Below $70,000 After briefly touching the $64,000 price level yesterday, Bitcoin has faced correction once again, falling back below this price mark—currently, the asset trades for $62,340, down by 1.8% in the past 24 hours. This decline in performance from Bitcoin appears to have also dragged the global crypto market cap along with it, with the overall market cap valuation of crypto currently down by 3.3% in the past day to $2.26 trillion. The plunge has had a severe impact on traders, most especially the ones on long positions. According to data from Coinglass, in the past 24 hours, 59,005 traders were liquidated, with the total liquidations sitting at $176.57 million. Out of the total liquidations, long positions account for $130 million, while short positions account for only $45.91 million. Featured image created with DALL-E, Chart from TradingView

Shiba Inu (SHIB) was announced by a prominent crypto personality as the most donated meme coin as these type of coins continue to grow in importance for charitable causes. This kind of recognition shows how these digital assets can benefit communities and gain business traction. Shiba Inu: On Praise & Performance Meme coin projects have earned praise from Ethereum co-founder Vitalik Buterin for donating a percentage of their token supply to charity. He thanked the projects and efforts dedicated to this cause in a post on X. Some “meme coins” were used as examples, including “ebull,” among well-known cryptocurrencies contributing to various charities. Support & Dedication Based on comments made by Buterin, Shiba Inu community members have claimed that among meme coins, SHIB leads in charity gifts. According to crypto expert Del Crxpto, no other meme coin can even emulate Shiba Inu’s level of philanthropy. For example, several donations, including to the recent Seungil Hope Foundation in Seoul, Korea which supports the country’s first specialized ALS hospital, reflect this growing dedication to giving. Analyst Sees SHIB Uptrend In related news, with good breakout and backtest signs in the very vibrant meme coin space, technical analyst Charting Guy has predicted a possible price spike for Shiba Inu. The market of meme coin prospers today; some of them are reaching all-time highs, while others display solid price rise. Meme Coin In Negative Region Shiba Inu was up 3.34% at the time of writing, trading at $0.00001793, but the weekly performance remained in negative territory cumulatively. Charting Guy thinks the dog-themed meme coin is likely to have a major price pump even if the price action has been disappointing lately. Shiba Inu is in the last waiting period, he pointed out, and expected to show a significant upside. Featured image from United Mission for Relief & Development, chart from TradingView

Crypto analyst Egrag Crypto has predicted that the XRP price will rise 8,400% to $44. Interestingly, the analyst suggested that the crypto could still reach a higher price target, calling the $44 price level “conservative.” XRP Price To Reach $44 Egrag Crypto predicted in an X post that the XRP price would reach $44. He highlighted this price level as one of the conservative targets based on the current cycle and the Fib Channel. The $44 price level is the target based on the Fib 0.702 channel. The other price targets he mentioned were $13 and $27, based on the Fib 0.5 and 0.618 channels, respectively. The analyst is confident that the XRP price will hit these price targets. He claimed that since the crypto’s inception, the chart has indicated that the market can expect pumps to these Fibonacci Channel levels. Egrag Crypto also suggested that XRP will reach these price targets in this bull run, claiming that this is what the chart states. Egrag’s label of these price targets as conservative also means that the XRP price could still rise higher in this bull run. The analyst didn’t provide any other price target, but other analysts like Javon Marks have predicted that the crypto could reach three digits. Marks recently predicted that XRP could rise to as high as $200. The analyst stated that the crypto has broken out of a Pennant pattern of over six years. He claimed that hold of this break plus a Logarithmic Follow-Through after can send XRP to $200, representing a price gain of over 30,000%. Marks expects the XRP price to reach $3.3 in the short term, close to its current all-time high (ATH) of $3.8. The analyst explained that since 2022, the crypto has confirmed multiple hidden bull divergences and is on course to achieve a bull breakout. According to him, this bull breakout will lead to a price gain of over 450% as XRP reaches the $3.3 range. He added that this price breakout may only be a start, especially since he believes the crypto will still reach $200. The Worst Case Scenario Amid these bullish predictions for the XRP price, Egrag Crypto has also revealed the worst scenario for the crypto in this market cycle. He claimed that XRP would at least reach between $2.3 and $5.89 in this bull run and outlined two reasons why he believes the crypto can at least reach these price targets no matter what. First, he noted that XRP managed to do a 10x from the bottom after the US Securities and Exchange Commission (SEC) dropped the lawsuit in December 2020. He stated that XRP could easily hit the $5 to $ range if there is a similar situation after the SEC appeal. He added that the crypto might reach the Fib 1.618 level at around $6.5. Secondly, he mentioned that the XRP price could hit $2.31 and $2,88 if the Bitcoin price reaches $80,000 and $100,000, respectively. He expects XRP to mirror BTC’s move, just like it did in the 2021 bull run.

Cardano price started a fresh decline below the $0.3550 zone. ADA is consolidating above $0.3400 and might attempt a recovery wave. ADA price started a downward move below the $0.3500 support level. The price is trading below $0.3520 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.3460 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could continue to move down if it stays below the $0.3520 resistance zone. Cardano Price Consolidates Losses After testing the $0.3680 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline like Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels. The price even declined below $0.3450 before the bulls appeared. A low was formed at $0.3409 and the price is now consolidating losses. There was a minor move above the $0.3450 level. The price tested the 23.6% Fib retracement level of the downward move from the $0.3681 swing high to the $0.3409 low. Cardano price is now trading below $0.3520 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.3460 zone. There is also a key bearish trend line forming with resistance at $0.3460 on the hourly chart of the ADA/USD pair. The first resistance is near $0.3520 or the 50% Fib retracement level of the downward move from the $0.3681 swing high to the $0.3409 low. The next key resistance might be $0.3550. If there is a close above the $0.3550 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3680 region. Any more gains might call for a move toward $0.400. More Downsides in ADA? If Cardano’s price fails to climb above the $0.3550 resistance level, it could start another decline. Immediate support on the downside is near the $0.3420 level. The next major support is near the $0.3400 level. A downside break below the $0.3400 level could open the doors for a test of $0.3250. The next major support is near the $0.3120 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.3400 and $0.3350. Major Resistance Levels – $0.3460 and $0.3550.

On-chain data shows the Bitcoin supply in loss has shot up close to the 20% mark after the recent bearish action in the coin’s price. Bitcoin UTXO Supply In Loss Has Seen A Sharp Increase Recently In a new post on X, CryptoQuant author Axel Adler Jr talked about the recent trend in the Bitcoin Unspent Transaction Output (UTXO) Supply in Loss indicator. The “UTXO Supply in Loss” measures, as its name suggests, the total percentage of UTXOs in existence (or more simply, just the tokens) that are being held at some net unrealized loss. The indicator works by going through the on-chain history of each UTXO in circulation to see what price it was last moved at. Generally, the last transfer of any token represents the last point that it changed hands, so the price at its time can be assumed to be its cost basis. When this cost basis for any UTXO is greater than the current spot price of the cryptocurrency, then that particular UTXO can be assumed to be underwater right now. The UTXO Supply in Loss adds up all UTXOs satisfying this condition to find what percentage of the total supply that they make up for. Like this metric, there also exists the UTXO Supply in Profit, which naturally keeps track of the UTXOs of the opposite type. Now, here is the chart shared by the analyst that shows the trend in the Bitcoin UTXO Supply in Loss over the history of the asset: As displayed in the above graph, the Bitcoin UTXO Supply in Loss registered a sharp plunge to the zero mark (note that the chart is reversed as it uses a negative scale) when the cryptocurrency’s price set its all-time high (ATH) back in March of this year. Whenever BTC sets a new record, 100% of the investors get into profits, so the UTXO Supply in Loss shrinking down to zero is only natural. As the coin has witnessed bearish momentum in the last few months, though, the metric’s value has gone through an increase again. The 90-day moving average (MA) of the indicator, which is also listed in the chart, has now come close to the 20% mark. The CryptoQuant author has marked in the graph the previous instances of the metric making a similar retest of this level. “In previous cycles, similar conditions were sometimes followed by a price rally,” notes Axel. Thus, it’s possible that a price surge may follow for Bitcoin this time as well. As for why the UTXO Supply in Loss going up can be bullish for Bitcoin, the reason is that the investors in profit are the ones more likely to participate in selling, so whenever their number reduces, the chances of a selloff also go down. BTC Price Bitcoin had shown some recovery beyond the $64,000 level yesterday, but it would appear that the asset couldn’t maintain as it’s back at $62,500 now.

The crypto market has seen huge growth and massive drops this week. Avalanche has seen a big price drop with further drops seeming inevitable. Cardano has also hit its lowest trading volume in 2024 and may see a further fall. On the opposite side of the coin, BlockDAG has seen a $10 million surge in presale in only 72 hours due to the massive whale activity. It seems to have come off the back of the 50% bonus offer that BlockDAG announced as a celebration of their successful Testnet launch. BlockDAG is collecting wins and traders are excited to see what the future holds for the altcoin. The Huge Avalanche Price Drop Raises Concerns The Avalanche (AVAX) price has dropped 21% from its recent peak of $30, signalling potential market volatility. After reaching a high of $65 earlier in the year, AVAX has entered a downward correction, testing support levels near $20. Even with a brief recovery, concerns remain about whether this price bounce marks the beginning of a new uptrend or just a temporary relief before further declines. Analysts believe the $30 resistance level is crucial in determining AVAX’s future momentum. If AVAX fails to break this level, the Avalanche price drop may continue, leading to lower values in the coming weeks. Cardano News: ADA Faces a 30% Price Drop Recent Cardano news points to a potential 30% price drop, as on-chain metrics highlight increasing selling pressure. According to Santiment, Cardano’s daily active addresses have fallen from 52,000 to 22,000 since early September. Additionally, trading volume has hit its second-lowest level in 2024 at $458 million, and ADA has seen a 17% price decline over the past month. While whale activity shows some interest, these broader negative trends could push Cardano’s price further down if it fails to break the $0.41 resistance level. If the current trend continues, ADA could hit a yearly low of $0.27, posing significant challenges for the cryptocurrency. $10M in 72 Hours: BlockDAG’s Presale Booms to Over $92M BlockDAG has experienced an impressive surge in its presale, raising $10 million in just 72 hours. This rapid influx of capital has been driven by growing whale interest, as large traders seize the opportunity to maximise their returns. BlockDAG’s strong position as a key beneficiary of the recent market upswing has further fueled this momentum, drawing major capital inflows into the project. With the coin price currently at $0.0206 in batch 24, and over $92 million raised through the sale of 13.8 billion coins, BlockDAG’s presale continues to outperform expectations. BlockDAG’s enticing 50% bonus offer on all coin purchases, which is still available for seven more days, has contributed to the presale’s success over the last 3 days. This bonus has incentivized large holders to act swiftly, eager to capitalise on the significant returns potential that BlockDAG’s presale offers. Traders looking to join the movement can use code BDAG50 until October 14th. Early backers are especially thrilled to see the presale gaining traction. With such rapid growth and major whales backing the project, the BlockDAG presale has positioned itself as one of the fastest-growing cryptos in the presale phase. The combination of market confidence and the limited-time bonus offer has created the perfect storm, getting noticed by whales and the larger crypto community. Fastest Growing Crypto In an expected turn, Avalanche & Cardano have looming price drops hanging over them and their community, while only time will tell which way it will go for them. But in stark contrast, BlockDAG sees huge whale activity that has shot up the coin’s presale number. BlockDAG presale saw $10 million in just 72 hours with the help of their 50% bonus offer which allowed large traders to acquire more BDAG for the same cost. Watching the presale gain momentum and the bonus offer ending in 7 days, traders are watching BlockDAG closely to see the movement over the next week. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

XRP price is stuck in a tiny range below the $0.550 level. The price must clear the $0.5450 and $0.5500 resistance levels to start a fresh increase. XRP price is still stuck in a range above the $0.5080 support. The price is now trading near $0.5320 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.5340 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5360 and $0.5450 resistance levels. XRP Price Eyes Fresh Surge XRP price remained supported above the $0.5080 support level. The price started a consolidation phase above the $0.5120 level, unlike Bitcoin and Ethereum. There was a minor increase within a range and the price climbed above the $0.5250 resistance. There was a move above the $0.5320 level. However, the bears are active near the 50% Fib retracement level of the downward wave from the $0.5453 swing high to the $0.5211 low. The price is now trading near $0.5320 and the 100-hourly Simple Moving Average. If there is another increase, the price might face resistance near the $0.5340 level. There is also a connecting bearish trend line forming with resistance at $0.5340 on the hourly chart of the XRP/USD pair. The first major resistance is near the $0.5460 level or the 61.8% Fib retracement level of the downward wave from the $0.5453 swing high to the $0.5211 low. The next key resistance could be $0.5550. A clear move above the $0.5550 resistance might send the price toward the $0.5800 resistance. Any more gains might send the price toward the $0.6000 resistance or even $0.6050 in the near term. The next major hurdle might be $0.6250. Another Decline? If XRP fails to clear the $0.5360 resistance zone, it could start another decline. Initial support on the downside is near the $0.5200 level. The next major support is near the $0.5165 level. If there is a downside break and a close below the $0.5165 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.5000 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5200 and $0.5165. Major Resistance Levels – $0.5360 and $0.5450.

With new developments and predictions, Cardano (ADA) continues to attract attention in the crypto world, presenting investors with a divided picture. Analyst Dan Gambardello recently expressed a bullish prognosis, asserting that Cardano is now 10 times more robust than it was in previous cycles. The long-term prospects appear promising, however, the short-term market sentiment indicates that a cautious approach is preferable. Gambardello said that the move to a fully decentralized, community-owned blockchain is one of the most important changes that makes him more optimistic. This important change happened after the Chang Upgrade went live on September 1. Gambardello said that the update has strengthened Cardano’s base, making it a more stable and independent network. However, this is only one part of the story. Cardano’s Most Recent Advancements One of the major steps that Cardano took to signify its full shift into community administration was the termination of its genesis keys. Leading this milestone adds another level of security and decentralization to the blockchain, thanks to the efforts of Input Output Global (IOG). According to Gambardello, these elements make Cardano’s network far more robust than it was in earlier cycles. Furthermore, Cardano’s Hydra, a layer-2 scaling solution, extends the network’s appeal. Hydra’s objective is to enhance transaction throughput while simultaneously preserving high levels of security and decentralization. This solution could provide Cardano with a competitive advantage, particularly in its pursuit of dominating the competition with other top networks such as Ethereum, as scalability is a significant obstacle for many blockchains. ADA Market Position Cardano has also experienced a substantial increase in its market position. ADA rated 12th in the crypto market and had a market cap of $2.997 billion in 2020. At the time of writing, Cardano maintains a market capitalization of $12.64 billion. Despite recent underperformance, Cardano’s resilience during the 2022 and 2023 market decline has kept it in the top 10 for an extended period. Cardano (ADA) Price Forecast Meanwhile, with technical indicators suggesting a cautious outlook for investors, Cardano (ADA) is presently in a bearish territory in the market. By November 7, 2024, the price of Cardano is expected to climb by 16.86%, according to CoinCodex, to over $0.412024. At 49, the Fear & Greed Index says traders are neutral even at this potential upward trajectory. The price volatility of Cardano had been at 5.70% with 60% positivity, boasting 18 out of 30 days in the green in the last 30 days. Based on these factors, many analysts believe that today isn’t probably the best time to make investments in Cardano. Featured image from Pixabay, chart from TradingView

Ethereum price corrected gains and tested the $2,400 support. ETH is now consolidating and might aim for a fresh increase above the $2,465 resistance. Ethereum started a downside correction below the $2,500 zone. The price is trading just above $2,430 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $2,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,400 support level to start another increase in the near term. Ethereum Price Holds Support Ethereum price failed to extend gains above the $2,500 resistance zone. ETH started a downside correction like Bitcoin and traded below the $2,465 support zone. There was also a move below the $2,420 level. The price tested the 50% Fib retracement level of the upward wave from the $2,310 swing low to the $2,519 high. It seems like the bulls are now protecting more downsides below the $2,400 support level. Ethereum price is now trading just above $2,430 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,465 level. There is also a short-term rising channel forming with support at $2,420 on the hourly chart of ETH/USD. A clear move above the $2,465 resistance might send the price toward the $2,500 resistance. An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,600 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665. More Losses In ETH? If Ethereum fails to clear the $2,465 resistance, it could start another decline. Initial support on the downside is near the $2,420 level. The first major support sits near the $2,390 zone or the 61.8% Fib retracement level of the upward wave from the $2,310 swing low to the $2,519 high. A clear move below the $2,390 support might push the price toward $2,325. Any more losses might send the price toward the $2,240 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,390 Major Resistance Level – $2,465

Bitcoin price corrected gains and tested the $61,850 zone. BTC is consolidating and might aim for a fresh increase above the $62,500 resistance. Bitcoin is holding gains above the $61,850 zone. The price is trading below $62,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $61,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless there is a close below the $61,700 zone. Bitcoin Price Eyes Another Increase Bitcoin price failed to settle above $65,000 and started a fresh decline. BTC traded below the $64,000 and $63,500 levels. It even broke the $62,500 support. A low was formed at $61,825 and the price is now consolidating losses. There was a minor increase above the $62,250 level. The price tested the 23.6% Fib retracement level of the recent decline from the $64,419 swing high to the $61,825 low. Bitcoin price is now trading below $62,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $62,500 level. There is also a connecting bearish trend line forming with resistance at $61,450 on the hourly chart of the BTC/USD pair. The first key resistance is near the $63,150 level or the 50% Fib retracement level of the recent decline from the $64,419 swing high to the $61,825 low. A clear move above the $63,150 resistance might send the price higher. The next key resistance could be $64,200. A close above the $64,200 resistance might initiate more gains. In the stated case, the price could rise and test the $65,000 resistance level. Any more gains might send the price toward the $65,500 resistance level. More Losses In BTC? If Bitcoin fails to rise above the $62,500 resistance zone, it could start another decline. Immediate support on the downside is near the $62,000 level. The first major support is near the $61,850 level. The next support is now near the $61,200 zone. Any more losses might send the price toward the $60,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $62,000, followed by $61,850. Major Resistance Levels – $62,500, and $63,150.