Ethereum price is consolidating gains below the $1,850 resistance against the US dollar. ETH must stay above the $1,750 support to start a fresh increase. Ethereum is still struggling to gain pace for a move above $1,850. The price is trading above $1,770 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with support near $1,780 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its decline if it fails to stay above the $1,740 support. Ethereum Price Remains In Range Ethereum failed to continue higher above the $1,850 level and started a downside correction. ETH corrected lower below $1,800, but the bulls remained active near $1,750. A low was formed near $1,741 and the price is now making a fresh attempt to gain pace, like Bitcoin. There was a move above the $1,780 level. The price tested the 50% Fib retracement level of the downward move from the $1,866 swing high to the $1,741 low. Ethereum is now trading above $1,770 and the 100-hourly Simple Moving Average. There is also a key contracting triangle forming with support near $1,780 on the hourly chart of ETH/USD. On the upside, the price is facing resistance near the $1,800 level. The first major resistance is near the $1,815 zone. It is near the 61.8% Fib retracement level of the downward move from the $1,866 swing high to the $1,741 low. Source: ETHUSD on TradingView.com A close above the $1,815 resistance could start a decent increase. In the stated case, Ether could revisit the $1,850 resistance. The next key resistance is near $1,865, above which the price could accelerate higher. In the stated case, the price could rise toward the $1,920 level. The main hurdle sits at $2,000. Another Decline in ETH? If Ethereum fails to clear the $1,815 resistance, it could start another decline. Initial support on the downside is near the $1,780 level, the 100-hourly Simple Moving Average, and the trend line. The next key support is $1,740. A downside break below the $1,740 support might send the price further lower. In the stated case, Ether could drop toward the $1,700 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,720 Major Resistance Level – $1,815

MATIC price is consolidating gains above the $0.58 support zone. Polygon might gain bullish momentum if it clears the $0.650 resistance zone. MATIC price is showing positive signs below the $0.65 resistance against the US dollar. The price is trading above $0.60 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $0.640 on the 4-hour chart of the MATIC/USD pair (data source from Kraken). The pair could continue to rise if it clears the $0.640 and $0.650 resistance levels. Polygon’s MATIC Price Aims Higher After forming a base above the $0.50 level, Polygon’s price started a steady increase. MATIC broke many hurdles near $0.550 to move into a positive zone, like Bitcoin and Ethereum. There was a move above the $0.60 resistance and the price climbed as high as $0.6646. Recently, there was a minor downside correction below the $0.640 level. The price declined below the 23.6% Fib retracement level of the upward move from the $0.5032 swing low to the $0.6646 high. MATIC is now trading above $0.60 and the 100 simple moving average (4 hours). There is also a key contracting triangle forming with resistance near $0.640 on the 4-hour chart of the MATIC/USD pair. Source: MATICUSD on TradingView.com Immediate resistance is near the $0.640 level. The first major resistance is near the $0.650 level. If there is an upside break above the $0.650 resistance level, the price could continue to rise. The next major resistance is near $0.665. A clear move above the $0.665 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.680 level or $0.700. Downside Correction in MATIC? If MATIC’s price fails to rise above the $0.640 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.6100 level. The main support is near the $0.584 level or the 50% Fib retracement level of the upward move from the $0.5032 swing low to the $0.6646 high. A downside break below the $0.584 level could open the doors for a fresh decline toward $0.550. The next major support is near the $0.532 level. Technical Indicators 4 hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level. Major Support Levels – $0.610 and $0.584. Major Resistance Levels – $0.640, $0.650, and $0.700.

Bitcoin price attempted a fresh increase above the $34,500. BTC could start a major downside correction if there is a close below the 100 hourly SMA. Bitcoin is still struggling to clear the $35,000 resistance. The price is trading above $34,200 and the 100 hourly Simple moving average. There is a key rising channel forming with support near $34,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline sharply if there is a close below $34,000 and then $33,400. Bitcoin Price Holds Key Support Bitcoin price started another increase above the $34,200 resistance zone. BTC climbed higher toward the $35,000 resistance zone, but there was lack of momentum. The price traded as high as $34,758 and struggled to continue higher. It is now correcting gains below the $34,500 level. There was a move below the 23.6% Fib retracement level of the upward move from the $33,318 swing low to the $34,758 high. Bitcoin is now trading above $34,200 and the 100 hourly Simple moving average. There is also a key rising channel forming with support near $34,300 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $34,500 level. The next key resistance could be near $34,750 or the channel upper trend line. The main resistance is still near the $35,000 zone. A clear move above the $35,000 resistance might start another steady increase. Source: BTCUSD on TradingView.com The next key resistance could be $35,500, above which the price could test $36,200. Any more gains might send BTC toward the $36,500 level in the near term. Downside Correction In BTC? If Bitcoin fails to rise above the $34,750 resistance zone, it could start another decline. Immediate support on the downside is near the $34,200 level and the 100 hourly Simple moving average. The next major support is near the $34,000 level or the 50% Fib retracement level of the upward move from the $33,318 swing low to the $34,758 high. If there is a move below $34,000, there is a risk of more downsides. In the stated case, the price could decline toward the $33,400 level or even $32,500. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $34,200, followed by $34,000. Major Resistance Levels – $34,500, $34,750, and $35,000.

Bukele took the step in April of doing away with all taxes on technological advancements. El Salvador may follow Singapore’s model and become a financial hub in the Americas. Strategy consultant at investment management company VanEck, Gabor Gurbacs, believes that El Salvador may follow Singapore’s model and become a financial hub in the Americas. Gurbacs on a twitter post stated: New Land of the Free Gurbacs predicts that fresh capital investment and immigration will be the key drivers of El Salvador’s enhanced economic development during the next few years, similar to what Singapore accomplished in the latter stages of the 1990s. Moreover, his remarks are in reaction to a tweet by American journalist and Bitcoin advocate Max Keiser from October 28 with the title “Move to #ElSalvador, The New Land of the Free.” Keiser, who relocated to El Salvador, argued that the Central American nation should be on everyone’s notice for a number of reasons, including the legal validity of Bitcoin and the U.S. dollar, a clean-up of Salvadoran crime, excellent beaches, and amazing coffee. Also, after Nayib Bukele was elected president of El Salvador in June 2019, the country’s developing economy received greater attention. Sovereign bonds issued by El Salvador have beaten several other developing markets so far this year, with returns of 70% or more as of August. Volcano Energy, which debuted in June after receiving a $1 billion investment, is one example of a company in El Salvador using the country’s volcanic resources to power its operations. Moreover, to encourage more entrepreneurs and international investment, Bukele took the daring step in April of doing away with all taxes on technological advancements. Highlighted Crypto News Today: Bitcoin Whales Aggressively Accumulating, Data Shows

Traders are looking to Jerome Powell’s remarks as a possible market-moving indicator. Bitcoin whales have been actively buying up the cryptocurrency in recent days. The crypto sector may react partially to the results of the Federal Open Market Committee (FOMC) meeting of the U.S. Fed on October 31 and November 1, 2023. Nevertheless, traders are looking to Fed Chair Jerome Powell’s following remarks on the US economic outlook as a possible market-moving indicator. However, the prospect of a rate rise at the December 13, 2023 meeting allows room for previous warnings from Federal Reserve authorities, even if traders and investors are now overwhelmingly optimistic about a delay in the interest rate hike at the forthcoming FOMC meeting. High Volatility Expected In the most recent Fed meetings, policymakers were careful to prevent the market from overreacting to the central bank’s dovish turn. Rates are now in the range of 550-575 basis points (bps). According to the data available on-chain, Bitcoin whales have been actively buying up the cryptocurrency in recent days, spending over $1 billion for more than 30,000 BTC. Moreover, crypto expert Ali claims that institutional and “whale” investors’ hunger for Bitcoin has been stoked by the recent flurry of applications for Bitcoin spot ETFs. Also, the leading cryptocurrency is seeing increasing institutional interest, according to data from the blockchain analytics company IntoTheBlock. Important on-chain occurrences, such as profit booking by short-term Bitcoin investors, were cited earlier as possibly causing a slowdown in the BTC price increase. Whether or if BTC can burst beyond the $35,000 barrier next week remains to be seen. Highlighted Crypto News Today: Cardano: DeFi Growth Surges Past $250 Million in TVL

The L2 ecosystems TVL increased by 10.36% in US dollars over the last week. The TVL in all Layer-2 Ethereum platforms hit a record high of over $12 billion. DeFi’s total value locked, a key metric for programmable blockchains, is on the rise in the second layer solutions market, which is dominated by Ethereum. In spite of a lacklustre market, the net TVL of the 30 most popular platforms has increased by 32% over the past four months. The total value locked (TVL) in all Layer-2 Ethereum (ETH) platforms hit a record high on October 27, 2023. It spiked to over $12 billion for a short period of time before settling around $11.87 billion. At $11.85 billion, the previous record high was set on April 17. Even though the cryptocurrency market has been relatively flat over the past year, its value in US dollars has increased by more than 114% over that time. After briefly surpassing 3.5 million ETH locked a year ago, the ecosystem has now reached 6.72 million ETH. Whale Dominated The L2 ecosystem increased TVL by 10.36% in US dollars over the last week. Even more impressive gains were made by a collection of the largest L2s. Moreover, in the same time frame, the price of Ethereum (ETH), the most important asset for L2s, increased by 10.14 percent. Two days ago, it dropped below $1,836 for the second time in over a month. On Ethereum, meanwhile, the L2 market is still “whale-dominated.” Over 90% of the ecosystem’s TVL is generated by the two largest networks, Arbitrum and OP Mainnet. The third place is held by the fastest-growing L2, Base, with a share of 4.83 percent. Highlighted Crypto News Today: Shiba Inu Developers Tease Groundbreaking Self-Custodial Identity Project

LUNA, the native token of the Terra 2.0 blockchain, was among the many gainers in the past week positively affected by Bitcoin’s impressive rally toward the $35,000 mark. According to data from CoinMarketCap, LUNA is up by 13.96% in the last seven days, providing some relief for investors who have had to endure the token’s bearish form in the previous weeks leading to this price rise. As expected, LUNA’s current bullish form has now attracted much attention, with some analysts speculating there could be more gains in the coming weeks. LUNA Could Double Its Value After Breaching Major Trendline, Analyst Says In a post on X on Sunday, crypto analyst Captain Faibik shared with his 67,000 followers an intriguing bullish prediction on LUNA’s price trajectory. Faibik, who claimed to not be a LUNA enthusiast, noted that the altcoin has recently broken a major bearish trendline and could potentially gain by 80-100%. According to Faibik’s analysis, LUNA traded above $0.47 in the past week, breaching a bearish trendline that stretches as far back as January 2023 on the token’s daily chart. Traditionally, trendlines are used by traders to connect several price points together and provide some insight into the potential direction of an asset’s price movement. When an asset’s price moves out of an established trendline, as in the case of LUNA, it can be interpreted as an impending price reversal. Since the start of 2023, LUNA has produced an overall negative price performance, losing over 63% of its value in the last 10 months. However, if Faibik’s prediction proves true, the popular altcoin could be on its way to a remarkable recovery. At the time of writing, LUNA trades at $0.468 with a 0.70% decline in the last day. With an 80-100% price increase, this price could rise as high as $0.934 in the coming weeks. Meanwhile, LUNA’s daily trading volume is currently down by 3.73% and valued at $48.67 million. With a market cap of $263.92 million, LUNA is ranked as the 117th largest cryptocurrency. Related Reading: Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again? Terra Community Approves New Proposal In other news, the Terra Community has recently passed governance proposal 4790 aimed at the active and aggressive development of the Terra ecosystem with resources provided by Terraform Labs. Under this newly approved proposal, Terraform Labs, alongside Terra community partners, will explore opportunities to utilize non-LUNA capital in driving the growth of the project’s economy. In addition, 125 million LUNA will be staked by a Terra community council to encourage and reward active network engagement, offer essential services to support the ecosystem, and guarantee equitable decentralization.

Cardano TVL on DeFi landscape exceeds $250 million, solidifying its rapid growth. Cardano outpaces Ergo in TVL, with Ergo’s TVL at $7.16 million in late October. Cardano’s stablecoin market cap is $15.93 million, with $2.82 million in 24-hour volume and 39,000+ active addresses. Cardano’s growth in total value locked (TVL) on the decentralized finance (DeFi) landscape continues to accelerate, reflecting strong momentum and adoption for the blockchain network. According to recent data, Cardano’s TVL has now surpassed an impressive $250 million milestone. This cements its status as one of the fastest-growing DeFi ecosystems. Cardano’s soaring TVL stands out, particularly when compared to other leading DeFi networks like Ergo. As of late October, Ergo’s TVL sat around $7.16 million. While Ergo has seen consistent growth over the past year, Cardano’s pace of scaling has proven far quicker. Stablecoin metrics highlight Cardano growth Metrics on stablecoins highlight Cardano’s expanding DeFi ecosystem. Cardano’s stablecoin market capitalization has reached $15.93 million, with $2.82 million in 24-hour volume and over 39,000 active addresses. Ergo’s stablecoin market cap remains at $387,776 by comparison. Analysts cite Cardano’s research-driven approach, rigorous peer reviews, and focus on long-term innovation as key factors driving its burgeoning DeFi adoption. Rather than chasing quick speculation, Cardano aims to build enduring value and utility. With its DeFi activity expanding rapidly, Cardano seems poised to continue its ascendance as a top DeFi contender. Its methodical and community-driven growth strategy may be paying dividends in the DeFi space and beyond.

Bitcoin whales acquire 30,000 BTC worth $1 billion in the past week, driven by increasing Bitcoin spot ETF applications. Institutional activity in BTC on the rise, with an uptick in large BTC transactions above $100,000. BTC’s recent surge brings it above $35,000, gaining 15% in the past week. On-chain data indicates Bitcoin whales have been aggressively accumulating in recent days, purchasing over 30,000 BTC worth about $1 billion over the last week. According to crypto analyst Ali, the rush of Bitcoin spot ETF applications appears to be fueling increased appetite for Bitcoin among whales and institutions. Blockchain analytics platform IntoTheBlock also shows institutional activity rising for the top cryptocurrency. The number of large BTC transactions worth over $100,000 has reached new highs in 2023. These spiked in late June following BlackRock’s ETF application and have now exceeded that level as BTC hits fresh yearly highs above $35,000. After briefly topping $35,000 for the first time since May 2022, Bitcoin has gained approximately 15% over the past week. It recently settled around $34481 at press time. Bitcoin movement shows signs of a bull run So far in 2023, BTC has risen over 66%, potentially signaling the early stage of a new bull market. Short-term momentum is accelerating, yet the BTC market value to realized value ratio indicates the bull run likely has room to continue. The recent $35,000 high marks the next resistance level for BTC. A break above could open the door to $38,000–39,000. But even if a correction occurs, analysts say support appears strong at around $30,000.

According to the latest on-chain data, wallet addresses linked to the now-bankrupt FTX exchange and Alameda Research have transferred substantial amounts in crypto assets over the past week. This series of funds movement was first brought to the limelight by prominent blockchain analytics firm Nansen, who reported that more than $60 million had been moved. However, further on-chain revelation shows that nearly $80 million has been moved from FTX- and Alameda-linked addresses in the previous week. Nansen Uncovers FTX And Alameda’s $60 Million Transfer On Friday, October 27, Nansen disclosed – via a series of posts on X (formerly Twitter) – that FTX has been transferring millions in digital assets, including Chainlink (LINK), Solana (SOL), Ethereum (ETH), Polygon (MATIC), etc, to various exchange addresses. Prior to this development, the analytics firm initially reported that around $8.6 million were moved to a Binance address. According to the latest Nansen data, FTX subsequently moved $24.3 million in various tokens to different addresses on Coinbase and Binance. The now-defunct exchange would later transfer 943,000 SOL (worth around $32 million) from its cold storage wallet on Friday. Based on Nansen’s data as of October 27, the total funds moved from FTX and Alameda wallets was above $60 million. Has There Been More Transfers? On Saturday, October 28, another blockchain data tracker, Lookonchain, offered an update on the recent transfer activities of the FTX- and Alameda-associated addresses. In a post on the X platform, the analytics platform revealed that FTX and Alameda moved an additional $20 million in crypto assets on Saturday. According to Lookonchain, FTX addresses transferred 309,185 SOL (worth around $10 million), 2 million Band Protocol tokens (equivalent to $3.15 million), 3.82 Perpetual Protocol tokens (worth about $2.3 million), amongst other crypto assets. Using Lookonchain’s data, this brings the total value FTX has moved this week to $78.7 million. While the purpose of these transfers is unknown, it remains to be seen whether they are associated with the exchange’s bankruptcy proceedings. And it comes after the FTX estate recently staked $122 million worth of Solana tokens. FTX exchange has been looking to conclude its pending Chapter 11 court case, with a recent proposal offering customers more than 90% of their missing assets toward the end of Q2 2024. Meanwhile, former CEO Sam-Bankman Fried is currently on trial for seven counts of fraud-related offenses.

Amidst the crypto market’s recent surge propelled by rumors of the Bitcoin Spot ETF approval, PEPE, a noteworthy altcoin, made a strong move by announcing the burning of over $5.5 million worth of its PEPE tokens. This smart decision resulted in a remarkable 30% surge within just 24 hours, propelling the value of PEPE to a two-month high. The surge in the crypto market triggered by the potential Bitcoin Spot ETF approval provided the perfect backdrop for PEPE’s strategic action, marking a significant upward shift in its value and indicating a resurgence in the altcoin space. PEPE’s Impressive Market Performance Recent data from crypto market tracker Coingecko highlights the impressive market performance of Pepe Coin. In the past week, the price of the meme coin has demonstrated an outstanding 61% surge, currently resting at $0.000001207, which marked a 0.84% gain at the time of this writing. This sustained upward trajectory not only underscores the coin’s resilience but also positions it as a significant player in the volatile crypto market, showcasing remarkable growth over a short period. Anticipations in the market for Pepe Coin suggest an imminent test of buyers’ resolve around the support level. Observers foresee a scenario where a substantial influx of aggressive purchases during a price dip could trigger a strong rebound for the Pepe coin. If this support indeed materializes, the coin is poised to potentially surge beyond the $0.0000019 mark. This projection not only signifies an opportunity for market momentum but also points to a critical juncture that could shape the near-future trajectory of Pepe’s value. The fervor surrounding Pepe, the memecoin sensation, intensified as the cryptocurrency surged an impressive 38% following the much-anticipated release of its latest updates. Notably, Pepe Coin unveiled a fresh team of advisors, marking a pivotal strategic move aimed at shaping the coin’s future trajectory. Amidst a week of substantial fluctuations in the crypto market, the spotlight fell on meme coins, with PEPE coin making a prominent appearance by almost doubling its value, reaching a market cap of $500. The Growing Appeal Of Meme Coins The success of PEPE coin signifies the growing influence and appeal of meme-based cryptocurrencies, which often rely heavily on online communities and social media engagement. The enthusiasm surrounding these coins is fueled by a combination of factors, including social trends, speculative trading, and the potential for quick, albeit risky, returns on investment. However, it’s important to note that the extreme volatility and speculative nature of meme coins can lead to unpredictable price swings and potential risks for investors. Elon Musk’s recent announcement regarding the incorporation of various payment methods into his platform, X, has sparked considerable interest and activity within the market. As the excitement surrounding the Bitcoin Spot ETF gradually subsided, the attention of the crypto market shifted towards meme coins. Specifically, the PEPE team’s decision to burn roughly 7 trillion tokens emerged as a key driver in the recent growth pattern. This strategic move significantly reduced the coin’s supply, potentially contributing to the increase in its value. These collective events underscore the dynamic nature of the cryptocurrency landscape, where strategic decisions and external endorsements wield substantial influence over market sentiment and value fluctuations. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock

The first stage in revealing the secret SHIB identity will be revealed on November 1, 2023. At the time of writing, SHIB is trading at $0.000008072, up 3.35% in the last 24 hours. A surprise move towards a distinct SHIB self-custodial identity has been begun by the Shiba Inu project’s developers. This news follows the successful release of Shibarium, a layer-2 scaling solution. The leading creators of the Shiba Inu project want to include Self Sovereign identity (SSI), a blockchain-based digital identification system, in any future endeavors related to the project. The developers of the self-custodial identification program are keeping its specifics under wraps, but they have announced that the last 72 hours are counting down. The first stage in revealing the secret SHIB identity will be revealed on Wednesday, November 1, 2023, with the accompanying instructions. Seismic Shift in Blockchain World Moreover, according to Kaal Dhairya, one of the developers of the Shiba Inu, the first step towards self-custodial identification on the ecosystem is imminent. Also, according to the team, this project will trigger “a seismic shift in the blockchain world.” On August 3, 2023, head developer Shytoshi Kusama announced that all Shiba Inu projects will begin using SSI Self Sovereign Identity. The SSI incorporation may serve as the basis for the forthcoming announcement. Moreover, IntoTheBlock saw a weekly spike in Shiba Inu outflow of 841%. IntoTheBlock’s Large Holders Outflow tool tracks the addresses of whales and other major holders to spot instances of frantic dumping. A fast surge in outflows might be the result of substantial withdrawals from exchanges or selling from “whale” addresses. At the time of writing, SHIB is trading at $0.000008072, up 3.35% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 8.92%. Highlighted Crypto News Today: Ripple CEO Criticizes Former U.S SEC Chairman Jay Clayton

Bitcoin’s surge past $35,000 on the 24th and 25th of October took the crypto world by surprise, as it indicated what might be the beginning of a new bullish sentiment. Trading volumes for the world’s largest cryptocurrency hit their highest levels since March, showing that interest in Bitcoin is booming once more. The entire crypto market saw an inflow of funds during the week, leading to a surge in market cap. Data from CoinGecko shows that the entire market cap increased from $1.184 trillion on Sunday, October 22, to $1.312 trillion on Wednesday, October 25. Most of this inflow went into Bitcoin, which saw its share of the cryptocurrency market increase from 49.58% to 51.47 % during this same time period. Chart From CoinGecko Daily Crypto Exchange Volumes Reach 8-Month High The recent boom in Bitcoin and cryptocurrency prices pushed Bitcoin daily trading volumes on crypto exchanges to their highest level since March. According to The Block’s data dashboard, the seven-day moving average for spot exchange volumes across multiple exchanges hit $24.12 billion on Thursday and $23.98 billion on Friday, respectively. In comparison, Bitcoin trading volume on exchanges was at $11.02 billion on the first day of the month. A similar metric from IntoTheBlock shows Bitcoin transactions reaching 1.4 million BTC as bulls looked to push Bitcoin to $35,000. Trading volumes are an important metric because higher volumes suggest greater interest and activity in a market. It means more people are actively buying and selling, leading to more liquidity and volatility. Whale activity also increased during this time period, as indicated by on-chain trackers. Whale transaction tracker Whale Alerts has shown various BTC transactions amounting to millions of dollars to and from crypto exchanges. What’s Next? More Bitcoin Movement? Bitcoin has since formed a resistance level around $35,000 and is now trading in a range. At the time of writing, Bitcoin is trading at $34,150, still up by 14.47% in a 7-day timeframe. While price action seems to be moving sideways at the moment, there are still hopes of continued momentum from the bulls to push BTC past $35,000 in the new week. Matt Hougan, CEO of crypto index fund manager Bitwise, has hinted at a further inflow of money into Bitcoin. Hougan makes this prediction on spot Bitcoin ETFs to project an inflow of around $50 billion within the first five years of its launch. Others like crypto financial services platform Matrixport have made more optimistic claims. Data from analytics platform mempool.space has shown a sustained increase in activity on the BTC network. If bulls continue to maintain a strong push, we could see Bitcoin reach as high as $45,000 in the early days of November. Featured image from Shutterstock

Another bullish prediction has come in for the XRP price which is arguably more optimistic than many would expect. This time around, a crypto analyst is expecting XRP to use up its stored energy for an explosive rally that could see the altcoin rally to $27, well above its all-time high. XRP Price Suppressed During Last Bull Run Because Of SEC Lawsuit Crypto analyst ERGAG CRYPTO recently predicted that XRP is poised for a massive 4,000% price surge. ERGAG made this prediction in an X post, detailing how this price surge can be actually possible. According to the analyst, XRP’s price was suppressed during the last major crypto bull run in 2021 due to an ongoing lawsuit from the SEC against Ripple Labs, XRP’s creator. While Bitcoin and other altcoins were hitting new all-time highs, the XRP price struggled to keep up due to fears the lawsuit could severely impact the project’s future. For instance, during this time period, Bitcoin skyrocketed by 23X, and Ethereum also went up a whopping 58X. A federal judge in the United States has since determined that the programmatic sales of XRP do not constitute the selling of securities. Now that the lawsuit seems to be coming to an end with a settlement in sight, XRP is poised to make up for lost time and shoot up with this lost energy. The analyst predicts the XRP price could rally 40 times from its current level to $27 in the subsequent bull run, which would exactly coincide with the Fibonacci 1.618 indicator from the 2017 peak to the 2020 bottom. Although a timeline for the next bull run is not known at the moment, ERGAG puts this spike to happen around mid-2024. What’s Next For XRP? The entire crypto market has witnessed gains since the middle of October, and the XRP price hasn’t been left out. Bitcoin, for instance, attained a new yearly high of $35,150. At the time of writing, XRP is trading at $0.547, up by 5.73% in the past seven days. Although its price is relatively low compared to other altcoins, XRP is still one of the strongest in the entire market, occupying the 5th spot in terms of market cap. ERGAG CRYPTO has also had some very optimistic price predictions for XRP in the past. While a $27 price point seems very overachieving, XRP could easily smash through its previous all-time high of $3.84 in the next bull market. The analyst had initially predicted that the altcoin might not see a new all-time high by July 2028.

Clayton blasted current SEC Chairman Gary Gensler for his handling of proceedings. The former SEC chairman departed the SEC days after the Ripple case was filed. When it comes to debates over corporate lawsuits and the US SEC’s role, Brad Garlinghouse, CEO of Ripple, has been vocal in his criticism of Jay Clayton, the previous chairman of the SEC. The CEO of Ripple recalls that Jay Clayton was the one who first filed the lawsuit that his company fought for over three years in response to a CNBC roundtable conversation with Jay Clayton that was posted by Cameron Winklevoss, CEO of Gemini. High-profile Legal Battle The fact that Clayton departed the SEC days after the Ripple case was filed was a big cause for worry for Garlinghouse. In an interview with CNBC, Clayton blasted current SEC Chairman Gary Gensler for his handling of enforcement proceedings against cryptocurrency businesses as an abuse of authority. Clayton told CNBC on June 29, 2023 that the US SEC could sue firms individually if it had a strong legal case to do so. He elaborated on how regulatory bodies should only provide rules and instances that they are certain would be upheld in court. Since taking over the SEC, Gary Gensler has been targeting the crypto firms. The regulator has targeted not just Kraken but also crypto exchange Coinbase and Binance on the grounds that they enabled the trade of unregistered crypto assets. Despite the SEC’s high-profile lawsuits under Gary Gensler, Clayton’s action against Ripple Labs is widely regarded as the industry’s most high-profile legal battle in recent memory. The payments company didn’t get its first big victory until July, when Judge Analisa Torres ruled that XRP’s programmatic sales are not investment contracts. Highlighted Crypto News Today: Ethereum’s Price Trading in Confined Range Eyeing Breakout

The recent price drop might be the catalyst for a subsequent price increase for SHIB. Rapid withdrawals from exchanges or sales from “whale” addresses are two possible causes. Shiba Inu had an increase of 841% in outflows last week, as reported by IntoTheBlock. The Large Holders Outflow feature of IntoTheBlock monitors the withdrawal of funds from the addresses of whales and other significant holders, making it possible to detect panicked selling. Rapid withdrawals from exchanges or sales from “whale” addresses are two possible causes of a sudden increase in outflows. During times of excessive volatility, large holders may be inclined to sell assets to avoid being forced to liquidate. Large withdrawals, however, are often due to funds leaving the exchange itself, since they are among the top holders. Cashing Out Following Bull Run The NetFlow indicator, which tracks the net change in whale holdings, reveals the whole story. Large-holder netflows have decreased for Shiba Inu by 96.69% during the last week. Net inflows from major investors falling is often a precursor to decreasing holdings or sales. On October 26 when the market started to go up, the price of a Shiba Inu hit a peak of $0.00000825, a level not seen in two months. Moreover, there was a record-breaking 715.13 billion SHIB worth of sell-off by institutional investors. This indicated that whales, or major Shiba Inu holders, cashed out following the recent bull run. Large holder outflows have fallen dramatically in the last day, reaching 274.37 billion SHIB, thanks to the rebound of Shiba Inu after its slide. After a prolonged bull run, Shiba Inu (SHIB) has joined the cryptocurrency pack and is experiencing the same minor pullback. Instead of being gloomy, this price drop might be the catalyst for a subsequent price increase for SHIB. Highlighted Crypto News Today: Binance Strengthens User Security With Launch of BNB SafeWallet

Shiba Inu is up by 12.15% in a 7-day timeframe as investors continue to accumulate cryptocurrencies in the wider crypto market. However, on-chain data has shown that accumulation has been going on for a while, with SHIB whales now accumulating $300 million in the past three months. Shiba Inu Whales Have Been Accumulating Large Amounts Of SHIB On-chain data from IntoTheBlock has shown that SHIB whales, meaning large holders, have been accumulating huge amounts of SHIB over the last few months. Large holders in the Shiba Inu ecosystem are divided into 12 whales (those with more than 1% of circulating supply) and 47 investors (those with more than 0.1% of circulating supply). These top SHIB wallet addresses have added an increase of +33.17%, around $300 million worth of SHIB in just the last 90 days. Data from the on-chain tracker Whale Alerts has shown various massive transfers during this time period. When investors accumulate large amounts, it often signals an incoming price rally. These massive accumulations by large holders point to their bullish belief in SHIB, despite the crypto having a weak momentum before the ongoing spike in the crypto market. This accumulation can, for the most part, be traced back to the introduction of Shibarium. The layer-2 solution developed by Shiba Inu, known as Shibarium, has had a good deal of success. At the time this article was written, the Shibarium blockchain had a total of 3,685,073 transactions and 1,257,858 wallet addresses. SHIB Future Outlook SHIB has had a price spike in relation to the ongoing inflow of funds into the crypto market currently being spearheaded by Bitcoin. At the time of writing, SHIB is trading at $0.00000784 after facing rejection at the $0.0000082 mark. Bulls have defended the $0.0000061 support level and $0.0000077 levels very strongly to form support after the price tested the latter level multiple times. A sustained move above $0.0000082 could send SHIB skyrocketing to its August high of $0.00001137. Large SHIB holders now hold 71% of the total circulating supply, and some of them can manipulate the price to their advantage. While whale accumulation is a positive sign, there are other things to consider regarding SHIB’s price outlook. On the other hand, the Shiba Inu developers and team leaders have pointed at upcoming projects in the ecosystem, one of which is a stablecoin based on Shibarium. If successful, a SHIB-based stablecoin could attract new investors to the Shiba Inu ecosystem, leading to a strong SHIB price spike.

Bitcoin has once again reclaimed $34,000 even as the euphoria around the possibility of a Spot Bitcoin ETF being approved soon. Following this, there is the need to look at the predictions of certain analysts who have weighed on the future trajectory of the flagship cryptocurrency from its current price action. Where Is Bitcoin Headed From $34,000? In a post shared on his X (formerly Twitter) platform, the CEO and Founder of trading platform MN Trading, Michaël van de Poppe, stated that the crypto was fighting $34,700 as resistance and that if it were to break out from that level, the crypto token could rise to as high as $37,000 to $38,000. He also seemed to suggest that $32,600 and $33,100 were key support levels to keep an eye on as he labeled them “areas of longing.” Another crypto analyst, CryptoTony, projects that Bitcoin could still spike up to $36,000 before “rejecting and letting the range begin.” Bitcoin Halving has become an important metric in making price predictions as the event draws near. In line with this, crypto analyst CryptoCon mentioned that the 2-Year-Old Cumulative Bands MVRV (Market Value to Realized Value) indicates that the pre-halving woes have occurred. Bearing this in mind, CryptoCon seemed bullish on the crypto token as he stated that “Bitcoin has something special in store for us next.” The analyst had recently predicted that Bitcoin could hit $45,000 as early as November based on their analysis of historical data and past cycles. Another crypto analyst, Crypto Rover, also mentioned using technical analysis that a bull flag was breaking out on the charts. This suggests that the rally already experienced might be nothing compared to what is on the way. Bitcoin In A League Of Its Own Several crypto analysts have, over time, noted the correlation between BTC and the stock market. Bitcoin is said to experience a decline whenever stocks are down and an upward trend whenever these stocks are on the rise. However, recent data suggests that this trend might be over (for now, at least). In a post on the X platform, Bitcoin Magazine noted that Bitcoin has so far decoupled from the Nasdaq, S&P 500, and Dow Jones this month. Bitcoin is up by over 28% in October, while the Nasdaq and S&P500 have had a relatively quiet month with just over 3% gains this month. Bitcoin is also hitting new highs (this year) in its dominance over the broader crypto market. Data from TradingView shows that the coin’s dominance currently stands at close to 54%. The flagship cryptocurrency has enjoyed an upward trend since the year began and hasn’t seen any significant competition from Ethereum despite talks about ‘The Flippening.’ Featured image from iStock

Unfold 2023, India’s largest Web3 event organised by CoinDCX from October 19 -21, 2023, was wrapped up on a high note. The sheer scale of the event and the overwhelming success reflects the promising future of Web3 in India. This objective is no less than propelling the nation to the forefront of Web3 leadership, thereby charting the course for the next phase of the Internet revolution. Unfold 2023 witnessed a remarkable turnout of over 2,500 participants during its three-day duration. Eminent leaders from the Ministry such as Sh. Priyank Mallikarjun Kharge, Minister IT/BT Karnataka, Sh. Jayant Sinha, Chairman PSC-FINANCE and MP and Sh. Rajeev Gowda, Vice Chairman, of Karnataka Policy and Planning Commission, and former- MP, of Rajya Sabha, spoke at the event, sharing a firm belief in the potential of Web3 to generate employment opportunities and revolutionize the internet landscape. The Event featured participation both in person and virtually, with over 60 distinguished global Web3 leaders and entrepreneurs, including notable figures such as Jesse Pollak, Founder of Base; Emin Gün Sirer, Founder of Ava Labs; Raj Gokal, Co-Founder of Solana Labs; Balaji Srinivasan; Ola Doudin, Co-Founder and CEO of BitOasis; and Mo Shaikh of Aptos. Unfold 2023 hosted Asia’s largest multichain multiprotocol hackathon, drawing over 700 web developers who competed for a total prize pool of USD 85,000. The Demo Day, which was also part of the event, saw some exceptional ideas from the entrepreneurs. The perks of winning the Demo Day included a $1 million pool of funding from CoinDCX Ventures and some of the top-tier Web3 investors, including Pi Ventures, Mumbai Angels, Global Coin Research, Dorahacks Ventures, Hashed EM, Draper Dragon, and IOSG Venture. By every metric, the event stood as the grandest and most significant in the realm of Web3. CoinDCX also unveiled its upgraded app, offering Indian crypto investors and traders a seamless experience with integrated advanced features from CoinDCX Pro. The user-friendly app launched during Unfold 2023 ensures secure and compliant trading in Virtual Digital Assets (VDAs). Unfold 2023 stands as a monumental achievement, propelling India to the forefront of the global Web3 arena. With hundreds of startups, five unicorns, and a projected contribution of $1.1 trillion to India’s GDP by 2032, this event underscored the imperative of fostering a unified Web3 ecosystem. India’s pivotal role in grassroots crypto adoption, housing 11% of the global Web3 developer pool, solidifies its position as a Web3 powerhouse. Anticipating a 120% growth in blockchain talent, the nation is poised for remarkable progress. The retail and financial sectors, contributing 37% and 15% respectively, will drive Web3 and metaverse adoption, illuminating India’s dynamic potential. Unfold 2023 has firmly established India as a trailblazer in the ever-evolving Web3 landscape, marking a significant leap toward a collaborative and thriving future. About CoinDCX Established in 2018, CoinDCX is the preferred crypto exchange in India, trusted by over 1.4+ crore registered users. Our mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets. We prioritize user safety and security, strictly adhering to KYC and AML guidelines. In our commitment to quality, we employ a stringent 7M Framework for the listing of crypto projects, ensuring users access only the safest digital assets. CoinDCX has partnered with Okto for India to launch a secure multi-chain DeFi app that offers a keyless, self-custody wallet. It aims to simplify the world of decentralized finance (DeFi) by providing a secure, user-friendly, and innovative solution for managing digital assets. Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3 empowers Indians with crypto knowledge, preparing them for the future of virtual digital assets. CoinDCX’s vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred and Coinbase Ventures. For more information, visit https://coindcx.com/ For media queries CoinDCX Sharjil Shaikh 9920231055 [email protected] Veritas Reputation PR Disha Guha 8388820313 [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.

Amid the recent upsurge, the price is up 11% in the last 7 days. If the bears drive the price below $1762 level, then price will head towards $1671 level. The recent rise in Ethereum’s price is consistent with the market’s optimistic mood. The rising price of Bitcoin, driven in part by the prospect of Bitcoin ETFs, has had a salutary effect on the broader crypto industry. As a result of the market’s upbeat outlook, Ethereum, which is already a formidable competitor, has strengthened even more. During the current crypto market surge, Ethereum gained 21% but still couldn’t break the $2,000 barrier. Many investors attributed the surge in value to the price of Bitcoin. The value of the cryptocurrency has moved between $1,760 and $1,850 during the course of the previous four days. Breakout Likely Assuming ETH recovers above the breakthrough mark of $1,853, the uptrend will continue. There will be further selling pressure on Ether if the price drops below the breakthrough mark of $1,746. The price however, is consolidating eyeing for a breakout in either direction. At the time of writing, ETH is trading at $1789, up 0.59% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down 16.90%. Amid the recent upsurge, the ETH price is up 11% in the last 7 days. Source: CoinMarketCap If the price manages to go past $1852 resistance level, then it is highly likely to head towards $2000 resistance level. If bulls could push the price above this level then the price will likely test the $2123 level. However, if the bears drive the price below $1762 level, then price will head towards $1671 support level. Further decline will likely see price testing $1611 mark.