The Polygon (MATIC) price continues to fall. Even the recent positive news from Korea and the strong data from the NFT market cannot change this. Since the yearly high on February 13 at $1.56, the MATIC price has currently fallen 60% and is trading at just $0.6169. Since the high, MATIC has been in a clear downtrend, which was last tested in mid-July. However, a breakout was not successful, both the trendline and the coinciding 200-day EMA have proven to be too strong a resistance. Now MATIC has also fallen below the 23.6% Fibonacci retracement level at $0.75. If the support at $0.60 (in shorter time frames) now also falls, a plunge towards the yearly low at $0.50 could be imminent. However, if the level establishes itself as support in the next few days, a new attempt to break out of the downtrend could start. For this, MATIC would currently have to rise above $0.71. However, validation of the breakout from the downtrend would have to come from the 23.6% Fibonacci retracement level. Only if MATIC rises above $0.75 the bulls might regain the upper hand. Then, the 200-day EMA at $0.84 would be the next major task that MATIC bulls have to master. Until then, MATIC seems poised for further downside. Even Positive News Can’t Move Polygon Price It is a bad omen for the MATIC bulls that even positive news cannot move the price. In the last two days Polygon has been able to report no less than two positive news. Today, Polygon Labs has inked a strategic alliance with SK Telecom (NYSE:SKM), South Korea’s foremost mobile telecom operator. This collaboration is geared towards the expansion of SKT’s Web3 ecosystem, positioning the telecom behemoth at the forefront of the burgeoning decentralized tech sector. Polygon’s CEO, Marc Boiron, elucidated the intent behind the partnership, stating, “Polygon Labs has been developing optimal blockchain technology for Web3 popularization, and we see this collaboration with SKT as an important step in providing Web3 experiences to more consumers.” Central to this synergy is the integration of the Polygon blockchain within SKT’s NFT marketplace, TopPort, as well as its forthcoming Web3 wallet, set for launch in 2023. The wallet promises to offer users high-speed, cost-effective transactions, augmented by Ethereum’s intrinsic security and decentralization features. Given the widespread utilization of Polygon-based solutions by global brands, this integration is likely to enhance SKT’s Web3 offerings considerably. Both entities will be actively scouring for promising Web3 startups to nurture and support. “By combining our experience in blockchain services and Polygon Lab’s blockchain infrastructure and ecosystem, we will be able to create valuable business opportunities and boost the Web3 ecosystem,” voiced Oh Se-hyun, Vice President and Head of Web3 CO at SKT. Moreover, Polygon’s NFT ecosystem clinched the second spot in traded volume over a month-long period, as highlighted by Polygon Labs founder Sandeep Nailwal. Interestingly, this surge can be attributed not just to high-value transactions but a flurry of micro-transactions, indicating Polygon’s accessibility and widespread use. By number of transactions, Polygon is 3x of Ethereum mainchain, that means there is a lot of micro transactions happening. The amount of “buyers” on Polygon also is 30% higher than the mainchain. This trend clearly solidifies Polygon’s burgeoning position in the decentralized tech sector.

Cardano is currently facing a stark contrast between its promising development trajectory and the significant losses incurred by ADA holders. Recent price analysis has revealed that the losses are nearing an astonishing 90%, sending waves of concern through the cryptocurrency community. The once-active addresses have dwindled, further accentuating the unease surrounding ADA’s price trend. In an accompanying chart in the analysis that lays bare the current situation, it becomes evident that nearly 4 million ADA addresses find themselves in the unfortunate position of holding the cryptocurrency at a loss. This staggering figure represents approximately 89.7% of all ADA holders at the time of this report. This unsettling statistic raises pertinent questions about the reasons behind this mass erosion of value, shedding light on potential market dynamics and investor sentiment. Cardano Unique Funding Approach Cardano has consistently been a pioneer in revolutionizing the blockchain landscape, consistently introducing groundbreaking developments. One such innovation is their novel approach to funding decentralized applications (dApps) – a departure from the traditional reliance on venture capital or initial coin offerings. Cardano’s introduction of undercollateralized loans introduces a fresh paradigm that could reshape the way blockchain projects are financed and sustained, offering a glimpse into the future of decentralized funding models. ADA’s Fluctuating Value Despite the advancements, ADA’s recent price performance has sparked concerns. With a current value of $0.274 according to CoinGecko, the cryptocurrency has experienced a decline of 1.2% in the last 24 hours alone. A more prolonged seven-day slump paints a bleaker picture, with a decline of nearly 8%. Navigating ADA’s Future As Cardano’s development trajectory continues to impress with its forward-looking innovations, the prevailing challenges in ADA’s price trend and holder losses should not be underestimated. The decline in active addresses further compounds the existing worries, potentially signaling shifts in user engagement and interest. While the undercollateralized loan approach holds promise for the ecosystem’s future, addressing the concerns surrounding ADA’s price and holder losses remains a pressing task. Cardano’s journey as a trailblazer in the blockchain realm is accompanied by a complex tale of contrasting fortunes. The remarkable innovations it introduces stand as a testament to its commitment to reshaping the industry. However, the substantial losses incurred by ADA holders and the wavering price trend underscore the importance of addressing market dynamics, sentiment, and user engagement to ensure the longevity and stability of Cardano’s ecosystem. (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 TimeOut

As August is now underway, three tokens have captured the attention of the crypto community: Tezos (XTZ), Shiba Inu (SHIB), and Everlodge (ELDG). While all of them may bring tremendous gains, one stands out. Today, we will find out which one of these tokens is and see why they are gaining traction as top contenders for potential investment. Tezos soars after Q2 report Shiba Inu on a continuous rise Everlodge to redefine real estate investment Join the Everlodge presale and win a luxury holiday to the Maldives Tezos (XTZ): Smart Contracts and Beyond Tezos (XTZ) has been making waves due to its unique approach to blockchain governance and its focus on self-amendment. In recent Tezos news, Messari published the Tezos quarterly report. From that report, we can see that Tezos’ roadmap development has been advancing. Furthermore, the network update in Nairobi has dramatically improved the platform and added new roll-up functions. Currently, the Tezos crypto trades hands at $0.7819 with a market cap of $741M, up 0.03% overnight. Moreover, its trading volume jumped by 30.94% in that same time, reaching $15,743,905. Due to all these green charts, market analysts remain bullish for Tezos. Consequently, predicting a $1.01 price for the token by December 2023. Shiba Inu (SHIB): Riding the Meme Wave Shiba Inu (SHIB) has gained significant attention as a meme-based cryptocurrency, drawing inspiration from the famous “Doge” meme. Despite its origins as a meme coin, Shiba Inu has made strides to establish itself as a legitimate project. Recently, interest in the Shiba Inu crypto has skyrocketed as the Shibarium launch draws near. In fact, the Shiba Inu coin price increased by 12.4% over the past week alone. During that week, it saw a high point of $0.00001119. Shiba Inu has a value of $0.00001037 with a market cap of $6.1B. Additionally, all its technical indicators and moving averages are in the green. Therefore, experts forecast continuous growth for Shiba Inu. As a matter of fact, they forecast a $0.00001078 price point for Shiba Inu by the end of 2023. Everlodge (ELDG): To Experience a 280% Rise Everlodge (ELDG) is a project that aims to revolutionize the real estate industry through blockchain technology, fractional ownership, and NFTs. This initiative is now in Stage 1 of its presale, and countless individuals are flooding it to obtain its native token, ELDG, for a discounted price. Everlodge solves many issues that currently plague the real estate market. For example, traditional real estate investment often requires significant capital, making it inaccessible to many individuals. Everlodge makes a change by digitizing and minting high-end properties in NFTs. Afterward, they are fractionalized. As a result, users can fractionally own a hotel for $100. But, Everlodge continues beyond fractional ownership; it offers an ecosystem with a rewards club. Investors holding ELDG tokens can earn free nightly stays at properties within the Everlodge ecosystem, similar to timeshare benefits. This creates an avenue for passive income while enjoying the benefits of owning a fraction of a property. One ELDG token costs just $0.01, but Stage 2 will soon begin. In other words, a rise to $0.012 will occur. Therefore, buyers are now flooding the presale to capitalize on this growth. As a result, experts forecast a 280% jump in its value before the presale ends. In sum, with ties to the $280T worth of real estate market, ELDG may leave Tezos and Shiba Inu in the dust. Find out more about the Everlodge (ELDG) Presale Website: https://www.everlodge.io/ Telegram: https://t.me/everlodge

Bulls and bears collide as the Ethereum price breaches crucial support at $1,800. Amidst market turmoil, Ethereum’s path awaits clarity from institutional ETF developments. Ethereum, the second-largest cryptocurrency, is imprisoned in the prevalent battle between bullish and bearish forces. This largest altcoin breached the $1,800 level, marking its new low since late June. While the question arises of who will win — bears or bulls— a sense of bullish hope emerges in the market scape of ETH. Volatility Shares, renowned for its crypto exchange-traded fund (ETF) ventures, schedules the impending launch of an Ethereum futures ETF on October 12. Notably, Volatility Shares gained recognition for launching the first 2x bitcoin-linked ETF (BITX) in July. However, Volatility Shares is not alone in this race to launch an Ethereum-focused ETF. Several other prominent financial players, including Bitwise, VanEck, Roubhill, ProShares, and Grayscale, have all submitted applications to the SEC. This surge of interest from institutional players has the potential to reshape Ethereum’s trajectory, possibly leading to increased demand. Amidst this promising institutional interest, a contrasting trend emerges. Crypto analytics tracker GlassNode’s data highlights a decline in whale interest in Ethereum, with the number of addresses holding over 10,000 ETH plummeting to a two-year low of 1,095. This speculative pattern suggests that while institutional players are stepping in, larger individual holders might be reducing their stakes. Will the Ethereum Bulls Take Over? Analyzing Ethereum’s recent price movements, the daily chart reveals that the price has been consolidating, with bears seemingly holding the upper hand. The daily Relative Strength Index (RSI) hovers around the brink of oversold territory with a value of 35. As per data from CoinMarketCap, at the time of analysis, Ethereum’s price was at $1,802, reflecting a decline of 1.24%. The short-term 9-day exponential moving average (EMA) is currently positioned at $1828, pointing to bearishness. Moreover, in the last 24 hours, ETH exhibited a surge of over 13% in trading volume. Ethereum (ETH) Daily Price Chart (Source: TradingView) If the current pattern continues, the potential for a trend breakthrough remains uncertain. Conversely, in a bullish scenario, the ETH/USDT pair might surge to $1,917, and possibly even reach $2,018. On the other hand, a downward trend could potentially drag the price even further, with experts cautioning against potential declines to $1,600 or even $1,458. Hence, the battle between bears and bulls remains an ever-evolving narrative. Will ETH reach $2000? Share your thoughts by tweeting us at @The_NewsCrypto

The network’s transactions have been frozen for at least five hours. SHIB’s price dropped by over 9 percent in the last 24 hours. The Shibarium blockchain, an Ethereum layer-2 network that utilizes SHIB tokens as fees, went live on late Wednesday. Shibarium is part of a larger strategy that recognizes Shiba Inu as a potential blockchain initiative. Developers are already adding functionality to its tokens through the Shibarium network in an effort to establish itself as a participant in the emerging field of decentralized finance (DeFi). Since the network will be using BONE, TREAT, SHIB, and LEASH tokens for blockchain-based apps, the demand for these tokens might drive up their values. Apart from its usage as a cheap settlement for DeFi apps built atop it, Shibarium is claimed to have an emphasis on metaverse and gaming applications. In particular, the NFT industry is predicted to heat up in the coming years. Shiba Inu (SHIB) 24H Price Chart (Source: CoinMarketCap) On the other hand, as per data from CMC, the Shiba Inu (SHIB) price dropped by over 9 percent in the previous day. Meanwhile, users experienced widespread bridge troubles after the launch of the much-touted Shibarium network late Wednesday. According to blockchain statistics, the network’s transactions have been frozen for at least five hours. There was 954 ether (ETH) worth $1.7 million and BONE worth $750,000 that users had sent to the contract. Shortly after users started reporting problems, they were prevented from posting on a related community topic on Discord. Shibarium’s shaky introduction to what was intended to be a low-cost, high-growth ecosystem didn’t have the start it had expected. The crypto community awaits an explanation or a response with a statement on the issue. Meanwhile, so far the Shibarium team remains silent. Related Crypto News: Shiba Inu (SHIB) Price Prediction 2023

SpiritSwap, a decentralized exchange (DEX) on Fantom, will no longer be shutting down its operations in September after it received a takeover offer from Power, another Fantom-based DeFi protocol. The proposed shutdown was a result of cross-chain protocol Multichain’s collapse, which had a significant impact on the Fantom ecosystem. On August 9, SpiritSwap announced on Discord that it is “winding down” operations and is looking for a team to take over the project after its treasury was drained in the Multichain exploit. The protocol initially planned to shut down by September 1, 2023, but it appears that won’t be happening anymore after Power’s intervention. This would come as a relief to several SpiritSwap community members, especially those who have the native token SPIRIT locked on the protocol. According to the protocol’s website, there are currently over 410 million SPIRIT tokens locked. Power To Deposit 200,000 USDC Into The SpiritiSwap Treasury On August 16, the SpiritSwap community approved the proposal to hand the keys of the protocol to Power, a non-fungible token platform on Fantom. Power has now proposed to deposit 200,000 USDC into the SpiritSwap treasury. Related Reading: Stellar Breaks Free: Unleashes New Open-Source Disbursement Platform The team behind the NFT platform stated in the proposal that the deployment of these funds into the treasury is the first phase of ensuring that SpiritSwap survives. Meanwhile, Power claims to hold more than $1 million in liquid assets across multiple chains “ready to mobilize for use”. In the proposal, the Power team clarified that it has also been developing its own decentralized exchange, PowerSwap. Then, it laid out plans to integrate some designs of the new DEX into SpiritSwap. It is worth mentioning that Power was also impacted by the Multichain exploit. Fortunately, the protocol’s treasury assets were not bridged to Multichain, leading to relatively small losses. Multichain Exploit – The Impact On Fantom The Fantom ecosystem was the biggest victim in the Multichain exploit in July, which resulted in a total loss of over $126 million. The attack seemed to have specifically targeted the protocol’s Fantom bridge, causing a drain of more than $120 million worth of assets. As inferred earlier, the ripple effect of the Multichain hack spread across various projects on the Fantom blockchain. As a result, the total value locked (TVL) on the network has been on a steady decline. Fantom has seen its TVL drop by more than 61% since July 6 – the day of the Multichain exploit. As of this writing, the total value locked on the network stands at about $86.2 million, according to data from DefiLlama.

Savvy investors are on the constant hunt to look for cryptocurrencies with practical utility and high appeal in the market. With economic data showing slight improvement, crypto investors look forward to the coming months with hope. Will EOS, Arbitrum (ARB), and VC Spectra (SPCT) dominate the market in the upcoming months? Let’s find out! >>BUY SPCT TOKENS NOW<< EOS Network Upgrades Attract Investors And Users For A Comeback As Top DeFi Platform Despite the ongoing class action lawsuit against Block.one, EOS continues to develop its ecosystem. A partnership with Coinmarketcap has increased users and TVL for an EOS EVM decentralized exchange as developer funding programs gain momentum. Furthermore, a recent webinar displayed the benefits of the EOS EVM, which makes the development of Ethereum-based Dapps easier and cheaper by using EOS to pay gas fees. Starting August 1 to 13, EOS has been on a decline losing 4% of its value as it moved from $0.75 to trade at $0.72 on August 14. This decline aligns with the lawsuit’s expected effects on EOS’s price. Meanwhile, Block. one’s failure to fulfill its $1 billion promise to EOS has caused further low investor demand and bearish sentiment for EOS. Consequently, technical analysis indicates that the EOS price decline may persist to a support level of $0.71.However, a positive result on the class action lawsuit may cause a change in its price action. Arbitrum (ARB) Gains Users In 2023: A Sign Of Things To Come A recent report showed that Arbitrum (ARB) had doubled its user base in Q2 2023 compared to Q1, reaching 9.5 million active addresses. Further, Arbitrum (ARB) has developed its network enough to attract game developers and DeFi apps. The Gora network has launched on Arbitrum (ARB), a multi-chain smart contract in Beta it intends to launch in eight weeks. Following these developments, Arbitrum (ARB) has spiked 0.8% from $1.15 to $1.16 from August 7 to 13. As the new week starts on August 14, Arbitrum (ARB) has fallen 1.7% to trade at $1.14, suggesting that the platform still needs more time to reap the benefits of heightened developer activities on the Arbitrum network. New projects launching on Arbitrum(ARB) may revive investor appetite and cause a price revamp. Despite its range-bound trading, market experts express a bearish market sentiment for Arbitrum (ARB). The price of Arbitrum (ARB) may hit the $1.0 support by the end of the week. VC Spectra (SPCT) Price Rise Indicates Its Increasing Dominance In The Market VC Spectra (SPCT) is a new cryptocurrency platform operating as a decentralized hedge fund to revolutionize the investment landscape. Additionally, VC Spectra (SPCT) promises real-world utility and profit-making potential, causing it to attract investor attention. At the heart of VC Spectra is the SPCT token. The VC Spectra (SPCT) token enables holders to invest in ICOs, blockchain ventures, and the VC Spectra Fund. Moreover, VC Spectra (SPCT) asset and risk management experts leverage AI to find promising investment opportunities. VC Spectra’s (SPCT) presale stages have delivered roaring success. Its private presale raised over $2.4 million in seed funding. The VC Spectra (SPCT) public presale has delivered impressive ROI. The price of VC Spectra (SPCT) tokens increased by 37.5% from $0.008 to the current $0.011 in the second public presale stage. Moreover, it may increase by 127.27% in the next presale stage. The quick acceptance and adoption of VC Spectra (SPCT) The quick acceptance and adoption of VC Spectra (SPCT)For investors seeking a high-growth crypto investment with practical utility, then VC Spectra (SPCT) is worth considering. Find out more about the VC Spectra presale here: Buy presale: https://invest.vcspectra.io/login Website: https://vcspectra.io Telegram: https://t.me/VCSpectra Twitter: https://twitter.com/spectravcfund 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.

RBI’s written request from the FSB and IMF was to include the ban. Ban has not been favored in any of the G20 crypto roundtable discussions. G20, an intergovernmental forum supported by the FSB and IMF under the Indian Presidency, set to introduce the first global crypto regulations ahead of the next summit in September. This announcement comes after the G20 revealed global rules for crypto firms with no options. Adding to that, the RBI wants to include a ban on the reports, which is denied by the FSB and IMF. During the roundtable conference at the recent G20 meeting, the leading economic officials pushed for greater global coordination for crypto regulations. Moreover, the International Monetary Fund Managing Director, Kristalina Georgieva, has taken a stand against the outright ban on crypto. The G20 is a premier forum for international economic cooperation. Moreover, it plays a crucial role in shaping and enhancing global architecture and governance on all major international economic issues. India Unveils the Synthesis Paper According to the presidency’s note, India announced the anticipated synthesis paper, which will jointly produced by the IMF and Financial Stability Board (FSB). The paper will focus on global macro implications for crypto, as expected at the end of August. It brings up one major question in India whether welcoming the FBI recommendations could mean legitimizing crypto and ruling out a ban. The finance ministry has not made its position public on whether it needs to ban crypto or not. According to the report, one of the RBI’s written requests from the FSB and IMF was to include the ban in the upcoming reports, including the synthesis paper. However, given the role in framing global crypto rules as part of the G20 presidency, it’s unlikely to choose a path for banning crypto. And also, one of the people stated that there is no global acceptance of a ban. Moreover, the ban has not favored in any of the G20 crypto roundtable discussions.

Shibarium, an Ethereum layer 2 solution, can be termed one of the most-hyped crypto projects of 2023, expected to introduce a higher network speed and lower transaction costs to the Shiba Inu ecosystem. After months of beta testing, Shiba Inu developers finally announced on August 16 that the Shibariun mainnet is now live. However, contrary to popular predictions, SHIB, Shiba Inu’s most prominent token, appears to have taken a nosedive upon this development. SHIB Maintains Bearish Form As Shibarium’s Ethereum Bridge Develops Fault So far, Shibarium’s launch has yielded a negative effect on SHIB, with the token losing 6.86% of its value in the last 24 hours based on data from CoinMarketCap. Prior to SHIB’s dip today, the token had shown an overall negative performance this week, falling from $0.00001059 on Monday to $0.000009527 on Wednesday. Related Reading: Shiba Inu Keeps Energy Alive, Snags 26% Gain – Here’s The Inside Scoop For now, SHIB’s loss post-Shibarium launch can be attributed to a technical issue with the much-anticipated project. According to a post by Whalechart on X, more than $1.7 million worth of ETH is presently stuck in the Shibarium bridge. This development has caused much panic among investors. In addition, it seems these assets may be unretrievable following a message being circulated on social media that appears to be from Shiba Inu developer Shytoshi Kusama. Meanwhile, it is worth stating SHIB is not the only Shiba Inu token under significant selling pressure, with the BONE and LEASH also declining by 15.48% and 22.59%, respectively, over the last day. Could Shibarium Be A Set Back To The Shiba Inu Ecosystem? Shibarium was designed to enable the various projects of the Shiba Inu ecosystem, such as the Shib Metaverse, Shibaswap DEX, and the Shiboshi NFT Project, to operate at an increased speed while offering users lesser transaction costs. Furthermore, all Shibarium transactions are to lead to SHIB burn, thus serving as a deflationary mechanism of the token. Due to these proposed features of the Shibarium project, it was widely expected that the layer 2 solution could bring about a higher adoption of SHIB and other Shiba Inu native tokens which in turn could boost market prices. There were many positive signs backing this prediction, with the SHIB token notching significant gains upon any news on the progress of Shibarium in the last few months. Related Reading: More Selling? Bankrupt Voyager Sends Millions In SHIB And ETH To Coinbase In fact, Shibarium launched on Wednesday with 21 million wallets created, demonstrating a high level of user interest. However, the recent issue with the Ethereum bridge provides much concern for Shiba Inu investors on if the Shibarium project can live up to its potential. Nevertheless, it may still be considered too early to call the project a failure, especially as there is no official statement from the Shiba Inu team addressing this challenge. At the time of writing, SHIB is trading at $0.000009295, with a 0.37% gain in the last hour. Meanwhile, the token’s daily trading volume is down by 0.42%, sitting at $431.32 million.

Bullish GRT price prediction for 2023 is $0.1756 to $0.2619 The Graph (GRT) price might reach $0.0002 soon. Bearish GRT price prediction for 2023 is $0.0536. In this The Graph (GRT) price prediction 2023, 2024-2030, we will analyze the price patterns of GRT by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION The Graph (GRT) Current Market Status What is The Graph (GRT)? The Graph (GRT) 24H Technicals The Graph (GRT) PRICE PREDICTION 2023 The Graph (GRT) Support and Resistance Levels The Graph (GRT) Price Prediction 2023 — RVOL, MA, and RSI The Graph (GRT) Price Prediction 2023 — ADX, RVI Comparison of GRT with BTC, ETH The Graph (GRT) PRICE PREDICTION 2024, 2025, 2026-2030 CONCLUSION FAQ The Graph (GRT) Current Market Status Current Price $0.09936 24 – Hour Price Change 3.95% Down 24 – Hour Trading Volume $52,704,460 Market Cap $906,746,863 Circulating Supply 9,129,681,395 GRT All – Time High $2.88 (On Feb 12, 2021 ) All – Time Low $0.052051 (On Nov 22, 2022) GRT Current Market Status (Source: CoinMarketCap) What is The Graph (GRT) TICKER GRT BLOCKCHAIN Ethereum CATEGORY Decentralized indexing protocol LAUNCHED ON July 2018 UTILITIES Governance, security, gas fees & rewards The Graph (GRT) is the native crypto token of the Graph, a decentralized indexing and query protocol. It was launched as an ERC-20 token on Ethereum in late 2020. The Graph enables users to query and retrieve data from blockchains such as Ethereum, Inter Planetary Film System (IPFS), POA, and Binance Smart Chain using GraphQL APIs. The network comprises four classes of participants: indexers, curators, delegators, and curators. Use cases of GRT vary among these roles as well. Indexers, delegators, and curators stake GRT tokens and earn those as rewards in return for their contributions. While consumers would pay GRT tokens to retrieve the data. The Graph 24H Technicals (Source: TradingView) The Graph (GRT) Price Prediction 2023 The Graph (GRT) ranks 45th on CoinMarketCap in terms of its market capitalization. The overview of The Graph price prediction for 2023 is explained below with a daily time frame. GRT/USDT Descending Channel Pattern (Source: TradingView) In the above chart, The Graph (GRT) laid out a Descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend. Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts. At the time of analysis, the price of The Graph (GRT) was recorded at $0.09936. If the pattern trend continues, then the price of GRT might reach the resistance levels of $0.1082, $0.1350, and $0.1780. If the trend reverses, then the price of GRT may fall to the support of $0.0950. The Graph (GRT) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of The Graph (GRT) in 2023. GRT/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of The Graph (GRT) for 2023. Resistance Level 1 $0.1756 Resistance Level 2 $0.2619 Support Level 1 $0.1004 Support Level 2 $0.0536 GRT Resistance & Support Levels The Graph (GRT) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of The Graph (GRT) are shown in the chart below. GRT/USDT RVOL, MA, RSI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the current The Graph (GRT) market in 2023. INDICATOR PURPOSE READING INFERENCE 50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $0.1126Price = $0.1035 (50MA > Price) Bearish (Downtrend) Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 39.61 <30 = Oversold 50-70 = Neutral>70 = Overbought Nearly Oversold Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak Volume The Graph (GRT) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of The Graph (GRT) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI). GRT/USDT ADX, RVI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the price momentum of The Graph (GRT). INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 15.9924 Weak Trend Relative Volatility Index (RVI) Volatility over a specific period 60.83 <50 = Low >50 = High High Volatility Comparison of GRT with BTC, ETH Let us now compare the price movements of The Graph (GRT) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs GRT Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of GRT is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of GRT also increases or decreases respectively. The Graph (GRT) Price Prediction 2024, 2025 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of The Graph (GRT) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030. Year Bullish Price Bearish Price The Graph (GRT) Price Prediction 2024 $0.8 $0.055 The Graph (GRT) Price Prediction 2025 $0.9 $0.06 The Graph (GRT) Price Prediction 2026 $1.2 $0.064 The Graph (GRT) Price Prediction 2027 $1.6 $0.071 The Graph (GRT) Price Prediction 2028 $2 $0.079 The Graph (GRT) Price Prediction 2029 $2.5 $0.086 The Graph (GRT) Price Prediction 2030 $2.8 $0.09 Conclusion If The Graph (GRT) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish The Graph (GRT) price prediction for 2023 is $0.2619. Comparatively, the bearish The Graph (GRT) price prediction for 2023 is $0.0536. If there is a positive elevation in the market momentum and investors’ sentiment, then The Graph (GRT) might hit $0.5. Furthermore, with future upgrades and advancements in The Graph ecosystem, GRT might surpass its current all-time high (ATH) of $2.88 and mark its new ATH. FAQ 1. What is The Graph (GRT)? The Graph (GRT) is the native token of The Graph, a decentralized indexing and query protocol. It was launched as an ERC-20 token in 2020. 2. Where can you buy The Graph (GRT)? Traders can trade The Graph (GRT) on the following cryptocurrency exchanges such as Binance, CoinW, BTCEX, OKX, and BingX. 3. Will The Graph (GRT) record a new ATH soon? With the ongoing developments and upgrades within The Graph platform, The Graph (GRT) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of The Graph (GRT)? The Graph (GRT) hit its current all-time high (ATH) of $2.88 (On Feb 12, 2021). 5. What is the lowest price of The Graph (GRT)? According to CoinMarketCap, GRT hit its all-time low (ATL) of $0.052051 on Nov 22, 2022. 6. Will The Graph (GRT) hit $0.5? If The Graph (GRT) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.5 soon. 7. What will be The Graph (GRT) price by 2024? The Graph (GRT) price might reach $0.8 by 2024. 8. What will be The Graph (GRT) price by 2025? The Graph (GRT) price might reach $0.9 by 2025. 9. What will be The Graph (GRT) price by 2026? The Graph (GRT) price might reach $1.2 by 2026. 10. What will be The Graph (GRT) price by 2027? The Graph (GRT) price might reach $1.6 by 2027. Top Crypto Predictions Polkadot (DOT) Price Prediction Filecoin (FIL) Price Prediction Litecoin (LTC) Price Prediction Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Ethereum price is showing bearish signs below the $1,840 zone against the US Dollar. ETH could drop further toward the $1,720 support zone. Ethereum is gaining bearish momentum below the $1,850 and $1,840 resistance levels. The price is trading below $1,830 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $1,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop further if it stays below $1,850 in the coming days. Ethereum Price Extends Losses Ethereum’s price failed to recover above the $1,850 resistance zone. ETH remained in a bearish zone and extended its decline below the $1,820 level, similar to Bitcoin. The bears were able to push the price below the $1,800 level. A low is formed near $1,778 and the price is now consolidating losses. There was a recovery wave above the $1,795 level. The price is now trading near the 23.6% Fib retracement level of the recent drop from the $1,853 swing high to the $1,778 low. Ether is now trading below $1,830 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance near $1,820 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,815 level or the trend line. It is close to the 50% Fib retracement level of the recent drop from the $1,853 swing high to the $1,778 low. The next resistance is near $1,830 or the 100-hourly Simple Moving Average. Source: ETHUSD on TradingView.com The first key resistance is near the $1,835 level. The next key resistance is near the $1,850 level. A close above the $1,850 level could start a decent increase toward $1,880. Any more gains might send the price toward the $1,920 resistance, above which the price could rise toward the $2,000 zone. More Losses in ETH? If Ethereum fails to clear the $1,820 resistance, it could continue to move down. Initial support on the downside is near the $1,780 level. The first major support is near the $1,750 zone. If the bulls fail to protect the $1,750 support, there could be more losses. The next major support is near the $1,720 support level. Any more losses might send the price toward the $1,650 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,780 Major Resistance Level – $1,820

Dogecoin is down over 10% and trading below the $0.070 resistance against the US Dollar. DOGE could extend losses if there is a move below $0.065. DOGE is currently trading in a bearish zone below $0.072 against the US dollar. The price is trading well below the $0.070 zone and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.071 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The price could correct higher but upsides might be limited above $0.072. Dogecoin Price Extends Losses After facing a strong rejection near $0.078, Dogecoin price started a fresh decline. DOGE declined over 10% and traded below the $0.0720 support zone to enter a bearish zone, similar to Bitcoin and Ethereum. The price even settled below the $0.070 level. Finally, it tested the $0.065 zone. A low is formed near $0.0657 and the price is now consolidating losses. It is approaching the 23.6% Fib retracement level of the recent decline from the $0.0772 swing high to $0.0657 low. DOGE is now trading well below the $0.070 zone and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.071 on the 4-hours chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.0685 level. The first major resistance is near the $0.070 level or the trend line. It is near the 50% Fib retracement level of the recent decline from the $0.0772 swing high to $0.0657 low. Source: DOGEUSD on TradingView.com A close above the $0.072 resistance might send the price toward the $0.075 resistance. The next major resistance is near $0.0780. Any more gains might send the price toward the $0.080 level. More Losses in DOGE? If DOGE’s price fails to gain pace above the $0.0720 level, it could continue to move down. Initial support on the downside is near the $0.0655 level. The next major support is near the $0.0632 level. If there is a downside break below the $0.0632 support, the price could decline further. In the stated case, the price might decline toward the $0.060 level. Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. 4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.0655, $0.0632, and $0.0600. Major Resistance Levels – $0.070, $0.072, and $0.075.

Blockchain-based payment network Stellar has introduced the open-source “Stellar Disbursement Platform,” aimed at facilitating faster, cost-effective, and transparent digital disbursements worldwide. Developed by the Stellar Development Foundation (SDF) over the past year, the platform enables individuals and organizations to execute bulk disbursements using digital assets for various purposes, including gig worker payments and digital aid delivery. Initially deployed for digital aid disbursements in Ukraine, the turnkey payment solution is now open-source and available for use and further development by anyone. Revolutionizing Global Payments? According to the announcement made on Wednesday, the Stellar Disbursement Platform allows users to send funds to thousands of recipients swiftly within seconds. It offers numerous applications, including supplier payments, payroll management, and contractor payments, catering to diverse payment needs. Furthermore, the platform’s seamless integration with Stellar’s global network of on and off-ramps, covering over 180 countries, provides recipients with the convenience of converting digital currency to cash “easily.” Denelle Dixon, CEO of the Stellar Foundation, expressed enthusiasm for the open-source release of the Stellar Disbursement Platform. She highlighted its success in facilitating digital aid disbursements in Ukraine and its subsequent evolution into a comprehensive payment solution. Dixon emphasized the platform’s potential to empower gig workers, global payroll systems, and creators, fostering a more inclusive and accessible financial future. Jeremy Allaire, CEO of Circle, also acknowledged the impact of the Stellar Disbursement Platform on humanitarian aid disbursements. He praised the platform’s effectiveness in utilizing the USD Coin (USDC) and highlighted its potential to advance global disbursement practices. The open-source nature of the Stellar Disbursement Platform reflects a commitment to collaboration within the blockchain community. By sharing this tool with the world, Stellar aims to create a more accessible and transparent financial future, benefiting gig workers, global payroll systems, and creators. Overall, Stellar’s launch of the open-source Stellar Disbursement Platform marks a significant step towards enabling faster, cost-effective, and transparent digital disbursements worldwide. The platform enables individuals and organizations to streamline their payment processes with its wide range of applications and integration with Stellar’s network. Stellar Secures Minority Stake In MoneyGram On Tuesday, the Stellar Development Foundation announced its recent participation in the go-private transaction with Madison Dearborn Partners (MDP), solidifying its position as a minority investor in MoneyGram, providing cross-border P2P (person-to-person) payments and money transfer services. As part of this investment, SDF has secured a seat on MoneyGram’s Board of Directors, granting the foundation an opportunity to contribute to MoneyGram’s future and digital strategy actively. Per the announcement, joining a group of leaders from the payments, financial services, and technology sectors, SDF’s presence on the board will leverage its collective expertise to fortify and guide MoneyGram’s digital transformation. Furthermore, the investment positions SDF to play a vital role in various aspects of MoneyGram’s journey, including the expansion of its digital business, exploration of blockchain technology, and support for the company’s overarching mission of facilitating secure and efficient global money movement for individuals and businesses across multiple countries. SDF CEO Denelle Dixon expressed confidence in the growth and opportunities arising from this partnership. By fostering solid collaborations with organizations in the payments sector, SDF moves closer to its mission of creating “equitable” access to financial services. This announcement signifies a mutually beneficial arrangement where SDF’s involvement will contribute to MoneyGram’s digital advancement while aligning with SDF’s vision of facilitating inclusive financial access. Despite recent protocol announcements and developments, the native token of the Stellar protocol, XLM, has consistently declined over the past two weeks. Currently, the coin is trading at $0.1262, reflecting a 2.4% decrease in value over the past 24 hours and a 13.8% decline within the fourteen-day timeframe. Featured image from iStock, chart from TradingView.com

Bitcoin price gained bearish momentum below the $29,000 support. BTC tested $28,400 and now at risk of more losses below $28,200. Bitcoin is trading with a bearish angle below the $29,250 resistance zone. The price is trading below $29,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $28,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down and trade below the $28,200 support. Bitcoin Price Takes Hit Bitcoin price remained in a bearish zone below the $29,250 resistance zone. BTC started another decline and traded below the key $29,000 support zone. It opened the doors for a sharp decline and the price dropped below $28,500. A low is formed near $28,350 and the price is now consolidating losses. It is trading near 23.6% Fib retracement level of the recent drop from the $29,182 swing high to the $28,350 low. Bitcoin is now trading below $29,000 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance near $28,850 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $28,750 level. The next major resistance is near $28,850 and the trend line. It is close to the 61.8% Fib retracement level of the recent drop from the $29,182 swing high to the $28,350 low. The main resistance is now forming near the $29,000 zone and the 100 hourly Simple moving average. Source: BTCUSD on TradingView.com A close above the $29,000 resistance could start a decent increase toward the $29,500 resistance zone. Any more gains might set the pace for a larger increase toward $30,000. More Losses In BTC? If Bitcoin fails to clear the $28,850 resistance, it could continue to move down. Immediate support on the downside is near the $28,400 zone. The next major support is near the $28,200 level. A downside break below the $28,200 level might push the price further into a bearish zone. In the stated case, the price could drop toward $27,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $28,400, followed by $28,200. Major Resistance Levels – $28,750, $28,850, and $29,000.

The Ethereum price has been on a rather disappointing run for investors over the last month and this decline has seen it fall to the low $1,800s. As the onslaught continues, the question now is will Ethereum be able to cross the $2,000 resistance before the month runs out? ETH Open Interest On The Rise One interesting factor about the current trend for the digital asset is the rate at which open interest is growing. Now, during times of falling prices where long traders are suffering the most in the market, open interest tends to decline as traders start to pull back from bullish positions. However, that has not been the case lately. For example, in the last day, the ETH open interest rose 16.77% on CoinEx, 14.48% on OKX, and 13.08% on Bitget. It doesn’t end there as the likes of Huobi and Binance also saw an 8.15% and 5.94% increase in their ETH open interest, respectively. As a result of this, the total exchange ETH futures open interest in USD moved from $6 billion last week to $6.54 billion on Wednesday. Given that the ETH futures open interest across exchanges was sitting at $6.4 billion on Tuesday, it translates to a 5.98% jump in total open interest in the last 24 hours alone. What Does This Mean For Ethereum Price? The steady rise in the Ethereum futures open interest on exchanges could point to a coming halt in the price decline. This is because, despite the falling prices, investors expect the price of the cryptocurrency to keep rising, which means bullish sentiment has not waned. What the current trend points to is likely a case of investors selling off holdings to secure some profit. But with so much open interest, it means there is not a lot of runway for the sellers. As a result, they will run out of steam soon and buyers will take over the market once more. When this happens, it would not take long until the Ethereum price is back up once more. Pulling above $2,000 will be more of a hurdle though. This is because the price of ETH continues to trade below its 50-day moving average, giving bears steam for the resistance at $2,000. However, with the expectations of an Ethereum ETF being approved by the United States Securities and Exchange Commission (SEC), there could be more volume flowing into the asset soon. This could be just the push ETH’s price would need to break $2,000. But the first ETH ETF deliberation by the SEC will happen in October, crossing August out of the picture.

Asset management firm Valkyrie has taken a significant step by filing for an Ether or Ethereum (ETH) futures exchange-traded fund (ETF) called “Valkyrie Ethereum Strategy ETF” with the United States Securities and Exchange Commission (SEC). Valkyrie Ether Futures ETF Include Secure Collateral Investments According to the filed documents on August 16, the proposed ETF will not directly invest in Ether, the native token of the Ethereum blockchain. Instead, it aims to acquire a portfolio of Ether futures contracts. These contracts are traded on commodity exchanges registered with the Commodity Futures Trading Commission (CFTC), primarily focusing on contracts traded on the Chicago Mercantile Exchange (CME). The value of these futures contracts will be determined by the CME CF Ether Reference Rate, which tracks the price of Ether across selected cash exchanges. Per the filing, the Fund intends to employ a “rolling” strategy to manage the expiration of futures contracts. As contracts approach their expiration date, they will be replaced by similar contracts with later expiration dates. These contracts allow investors to speculate on Ether’s future price movements without owning the digital asset directly. Apart from Ether futures contracts, the Fund will invest its remaining assets in cash, cash-like instruments, or high-quality securities, collectively called “Collateral Investments.” These may include U.S. Government securities, money market funds, and corporate debt securities rated investment grade or comparable quality. Collateral Investments serve the purpose of providing liquidity and satisfying margin requirements for the Fund’s futures portfolio. In addition, the Fund may engage in reverse repurchase agreements to help maintain the desired level of exposure to Ether futures contracts. These factors are expected to position the proposed Ether ETF favorably with the SEC, as it aligns with their requirements. Therefore, there is optimism for a promising decision in support of the Ether ETF application. Options Market Supports BTC And ETH Amid Strong US Economy The strength of the US economy has propelled the US Dollar Index (DXY) to deliver a sharp performance, exerting continued pressure on the cryptocurrency market. However, despite liquidity challenges, the gradual decline in Bitcoin (BTC) and ETH prices has not exceeded expectations. Fortunately, the options market continues providing substantial price support for BTC and ETH, ensuring stability without external liquidity. Digital asset management platform Blofin has closely analyzed the options market and identified significant factors contributing to the ongoing support for BTC and ETH. Positive gamma has impacted BTC, “sticking” its price around the $29,000 mark. Similarly, for ETH, market makers’ hedging behavior around the $1,800 strike price has also provided support, preventing a steeper decline in its price. Despite the overall support from the options market, Blofin’s analysis reveals a discrepancy in the sentiment of block traders towards BTC and ETH. Block traders, who typically execute large-volume trades, believe more strongly in BTC’s resilience than ETH. This preference may stem from BTC’s established position as the leading cryptocurrency and its reputation as a reliable store of value. Overall, Blofin’s analysis underscores the crucial role the options market plays in supporting BTC and ETH amid liquidity pressures. The positive gamma effect and market makers’ hedging actions have contributed to maintaining the stability of both cryptocurrencies. As of the time of writing, the second-largest cryptocurrency in terms of trading volume is trading at $1,825. Following in the footsteps of Bitcoin, Ethereum has experienced a 0.8% decline over the past 24 hours, further extending its downward trend over the past 30 days, resulting in a 4% decline during that period. Featured image from iStock, chart from TradingView.com

The Bitcoin price action has been stuck in a tight range for weeks leading to the lowest volatility levels in years. A recent report hints at a potential breakout from the current range, but which side will be favorable by the potential spike in volatility? As of this writing, Bitcoin trades at $28,950 with sideways movement in the last 24 hours. Over the previous seven days, the BTC’s price saw a slight downtick recording a 2% loss. Other tokens in the top 10 by market cap are underperforming, with many seeing double-digit losses on low timeframes. The Last Time The Bitcoin Price Saw Low Volatility As seen in the chart below, provided by trading desk QCP Capital in a report, annualized volatility for BTC reached critical levels seen for the first time in over five years. The metric last stood at these levels from late 2018 to 2019. The chart above also shows that volatility fluctuated from the low to the yearly high in a cycle that extended for 2019. At that time, Bitcoin and the crypto market were coming out from a prolonged bear market that, as today, left traders and market participants in shambles and with almost no appetite for risk. QCP Capital noted that from 2018 to 2019, the macroeconomic landscape dominated the Bitcoin price action. At that time, the US Federal Reserve (Fed) hiked interest rates, but the COVID-19 pandemic, which operated as a catalyzer, forced it to reverse. The latter occurred from late 2019 to 2020, when the ease in macroeconomic conditions allowed Bitcoin to soar to a new all-time high. Thus, the trading desk believes that a catalyzer is needed to push the price action back to life: However, they noted that the break of the current low volatility environment is not “imminent.” However, the upcoming decision on a Bitcoin spot Exchange Traded Fund (ETF) in the US could operate as a catalyzer, bringing BTC to its next resistance level at around $34,000, but patience is still required. QCP Capital concluded: Cover image from Unsplash, chart from Tradingview

In a recent interview, Tom Lee, CNBC’s head of research, shared his insights on the potential impact of a Spot Bitcoin exchange-traded fund (ETF) approval by the Securities and Exchange Commission (SEC) on the price of the largest cryptocurrency in the market. Lee expressed optimism that introducing a Bitcoin ETF could propel the digital asset to price levels of $150,000 or even $180,000, representing a significant surge from current levels. Optimistic View On BTC Lee’s bullish stance on the potential for a Bitcoin ETF to drive price appreciation reflects the growing anticipation within the cryptocurrency community, as an ETF would provide traditional investors with a regulated and easily accessible vehicle for gaining exposure to Bitcoin, potentially attracting substantial capital inflows into the market. According to Lee, if the SEC were to approve a Spot Bitcoin ETF, it could unlock a new wave of investor interest and significantly boost the price of Bitcoin. He estimated that this approval could drive the cryptocurrency to $150,000 or even $180,000, representing a substantial appreciation from its current levels. The endorsement of a regulated ETF would likely instill confidence among institutional investors who have hesitated to enter the cryptocurrency market due to concerns about custody and regulatory oversight. However, Lee also acknowledged the influence of the upcoming Bitcoin halving event on the price trajectory. Bitcoin’s protocol is designed to undergo halvings approximately every four years, reducing the block reward miners receive by half. Considering the impact of the halving, Lee tempered expectations of Bitcoin reaching six-figure prices in the immediate aftermath. While he expressed confidence in the long-term potential of the digital asset, he suggested that the effects of the halving might delay the realization of such high valuations. Bitcoin Holds Critical Zone Amidst Intensifying Bull-Bear Battle While continuing to experience a consolidation phase and decide which side will crack first, Bitcoin has found itself in a critical zone, prompting both bullish and bearish sentiments among market participants. Keith Alan, co-founder of the analysis firm Material Indicators, has highlighted vital indicators and technical levels that are currently shaping the market’s direction. While the bears actively seek to test support and potentially trigger a macro bear market, the bulls have maintained the trading range thus far, keeping the macro bull market prospects alive. The significance of maintaining the range cannot be understated. According to Alan’s analysis, key Moving Averages and the green resistance/support (R/S) Flip Zone have demarcated critical levels that Bitcoin must hold. As BTC’s price approaches the lower end of the range, below $29,000, Alan closely observes the technical support at the 21-Week Moving Average, as a breach of this level could have far-reaching implications for the overall market sentiment. According to Keith, a break below the range and the subsequent formation of a Lower Low (LL) in price action would signal the onset of a macro bear market. This would imply a prolonged period of downward price pressure and a potential shift in the broader market trend. Conversely, a successful defense of the range, coupled with a clearance of the 100-Week Moving Average and the formation of a Higher High (HH), would indicate the potential for a macro bull market characterized by sustained upward momentum. Despite the bearish signs of “price erosion” and diminishing liquidity, the bulls can still find solace in the fact that they are currently holding the range. This suggests that the market is yet to tip in favor of the bears decisively. However, the bears remain determined to test this support, making it a crucial juncture for determining the near to mid-term trend of Bitcoin. Featured image from iStock, chart from TradingView.com

On-chain data shows the Bitcoin exchange whale ratio has spiked, a sign that the whales may be selling now. Bitcoin Exchange Whale Ratio Has Gone Up In Recent Days An analyst in a CryptoQuant post explained that the whale inflows have been higher than usual recently. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top 10 inflows to exchanges and the total exchange inflows. Generally, the ten most significant transactions going to exchanges are coming from the whales, so this ratio’s value can provide hints about how the inflow activity of these humongous investors currently compares with the entire market. When the value of this metric is high, it means that this cohort is making up a significant part of the total market inflows. As one of the main reasons investors deposit their coins to these platforms is for selling-related purposes, this trend can be a sign that the whales are currently applying a large amount of selling pressure. On the other hand, low values imply the whales are making up for a relatively healthy portion of the total inflows. Depending on other market factors, such a trend may be neutral or bullish for the cryptocurrency’s price. Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of years: The above graph shows that the Bitcoin exchange whale ratio has recently registered a spike. In this latest surge, the metric had neared the 0.70 mark, implying that almost 70% of the total exchange inflows had come from these humongous investors alone. If these whales have made these deposits to sell their coins, then BTC could naturally feel a bearish effect from this inflow activity. So far, however, the price hasn’t seen any significant decline, as it continues to be within the range it has been endlessly consolidating for the past few weeks. In the chart, the quant has also highlighted the instances during the last couple of years where the Bitcoin exchange whale ratio spiked to similarly high values. It would appear that the BTC price declined shortly after most of these occurrences. In some instances, the bearish effect only occurred with a delay, meaning that even though the recent spike hasn’t led to a significant price drawdown, it could still do so soon. It remains to be seen how the Bitcoin market copes with this potential high selling pressure from the whales this time. BTC Price At the time of writing, Bitcoin is trading around $29,000, down 2% in the last week.

Toncoin (TON) has showcased healthy market status since the end of last week. According to historical data from TradingView, it witnessed a consecutive bullish trajectory from August 11, 2023, until today, August 16. The upward movement drew the attention of investors, resulting in a price increment of over 12% gain in the past seven days. Notably, the latest developments within Toncoin’s ecosystem could be the reason for the market uptick in the past few days. However, TON’s market value today, August 16, is $1.44, representing a price drop of over 2% in the last 24 hours. With this current price, the asset is almost 19.7% up in the past 14 days, 7% in 30 days, and 17% in the past year. Related Reading: Best-Selling Author Touts Buy XRP Now, But This Price Is Crucial Recent Development Within Toncoin Ecosystem Pushes TON’s Value There have been a lot of events on Toincoin’s ecosystem attracting massive investor attention and investment. Today August 16, Toincoin shared a post on X about its Indonesia event in Bali slated for August 23, inviting the crypto community to join. Also, on August 14, Toincoin shared another update on expanding its ecosystem globally through the X platform. Toincoin shared that it has taken another step to increase its global reach by launching the network’s website in Ukraine. This move shows the project’s commitment to increasing the asset’s adoption. Also, the team behind the TON projects wants to discover how Web3 teams could easily sign documents in Telegram. In its X post, the team behind TON wrote: Earlier on August 11, the TON community, via its X handle, shared a tweet from a known payment gateway for cryptocurrencies, NOWPayments. The report noted that the payment service had incorporated TON into its technology to enable a seamless non-fungible token checkout from different marketplaces. This announcement triggered a rise in the market value of TON, verifiably from historical data on TradingView. From the data, the digital asset kick-started its bullish trend on the same day the news was announced. It recorded a price gain from $1.259 to $1.302, reflecting a positive price change of about 3.4% in 24 hours. As the news spread, investors filled their portfolios with TON, despite the price decline of some other crypto assets. Related Reading: SEI Token Breaks Into Top 100 One-Day Post-Debut On Major Exchanges Toncoin entry into the NFT sector could have been the reason for the continued purchase of more TON tokens. Investors are hopeful that the digital asset’s value will appreciate in the future because of NFTs. These new updates contributed to the positive market sentiment after the association with NOWPayments triggered the price gains.