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Chainlink’s LINK price is holding the $7.30 support zone. The price could start a fresh increase if it clears the $7.50 resistance zone. Chainlink token price is showing positive signs above $7.30 against the US dollar. The price is trading above the $7.40 level and the 100 simple moving average (4 hours). There is a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could gain bullish momentum above the $7.50 resistance zone. Chainlink (LINK) Price Eyes Fresh Increase After a strong increase, LINK price faced sellers near the $7.90 zone against the US Dollar. A high was formed near $7.91 and the price started a downside correction, unlike Bitcoin and Ethereum. There was a move below the $7.60 and $7.50 levels. The price declined below the 50% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. The price also spiked below the $7.40 level. However, the bulls are active near the $7.30 support. LINK is trading above the 61.8% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. It is also above the $7.40 level and the 100 simple moving average (4 hours). Source: LINKUSD on TradingView.com It is now facing resistance near the $7.50 level. There is also a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK/USD pair. The first major resistance is near the $7.685 zone. A clear break above $7.685 may possibly start a fresh increase toward the $7.90 and $8.00 levels. The next major resistance is near the $8.20 level, above which the price could revisit $8.50. More Losses? If Chainlink’s price fails to climb above the $7.50 resistance level, there could be a downside extension. Initial support on the downside is near the $7.30 level. The next major support is near the $7.15 level, below which the price might test the $7.00 level. Any more losses could lead the price toward the $6.85 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now near the 50 level. Major Support Levels – $7.30 and $7.15. Major Resistance Levels – $7.50 and $7.685.
 
XDEFI, the leading multi-chain wallet extension offering a comprehensive suite of cryptocurrency asset management solutions, has announced its integration with: Osmosis IBC transfers Squid Router (powered by Axelar Network) This represents a significant step towards improving the liquidity flow of the Cosmos ecosystem. What Does This Mean for Users? The integration enables users to bridge any asset supported by XDEFI into the Cosmos ecosystem directly within the XDEFI wallet through the Squid Router. Once bridged, users can effortlessly swap any Cosmos assets via Osmosis, and move these assets between different chains within the Cosmos ecosystem with IBC transfers, all directly from the comfort of your wallet. To illustrate the new feature’s utility, consider this groundbreaking example: users can now move from native Bitcoin to any Cosmos token, like Kujira. The swaps are performed seamlessly within XDEFI Wallet, ensuring a smooth and permissionless process. Cosmos Odyssey Campaign In a parallel development, XDEFI has recently launched the Cosmos Odyssey campaign on Galxe, featuring a guaranteed prize pool of over $25,000 in tokens from XDEFI, Stargaze, Calc Finance, Kujira, Crescent, and more. The campaign encourages participants to complete small tasks on various Cosmos networks and platforms for a chance to win prizes. This initiative aligns with XDEFI’s broader goal of driving growth and liquidity for the Cosmos ecosystem, enhancing its visibility, and encouraging active user engagement across the network. The integration with Osmosis and Squid Router is part of XDEFI’s mission to make DeFi more accessible and to offer a more inclusive and rewarding experience for its users. With the collapse of major centralized platforms like FTX and Celsius and mounting regulatory pressures, the demand for decentralized alternatives delivering a CEX-like user experience is on the rise. Witnessing over 30% growth year-to-date, XDEFI has established itself as the go-to, all-in-one wallet, delivering a true CEX experience and effectively mitigating the challenges often associated with self-custody and DeFi. Install XDEFI Twitter Discord
 
Ethereum price is attempting a recovery wave from the $1,835 zone against the US Dollar. ETH could start a steady increase if it clears the $1,860 resistance. Ethereum is trading in a range below the $1,860 and $1,880 resistance levels. The price is trading below $1,850 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop again if it stays below the $1,860 resistance. Ethereum Price Turns Red Ethereum’s price struggled to clear the $1,860 resistance zone and started a fresh decline. ETH settled below the $1,850 level to move into a bearish zone, similar to Bitcoin. There was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH/USD. The pair tested the $1,830 zone. A low is formed near $1,833 and the price is now attempting a recovery wave. There was a move above the $1,840 level. The price traded above the 23.6% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. Ether is now trading below $1,850 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $1,850 level. It is near the 50% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. The first major resistance is near the $1,860 level. The next key resistance is near the $1,880 level. Source: ETHUSD on TradingView.com A close above the $1,880 level could send the price toward $1,920. Any more gains might send the price toward the $2,000 hurdle, above which the price could rise toward the $2,040 level or even $2,120. More Losses in ETH? If Ethereum fails to clear the $1,860 resistance, it could continue to move down. Initial support on the downside is near the $1,835 level or the recent low. The first major support is near the $1,820 zone. If the bulls fail to protect the $1,820 support, there could be a sharp decline. The next major support is near the $1,780 support level. Any more losses might send the price toward the $1,720 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,820 Major Resistance Level – $1,860
 
Bitcoin price is moving lower from the $29,500 zone. BTC is showing bearish signs and might decline further below the $29,000 support zone. Bitcoin is gaining bearish momentum below the $29,500 support. The price is trading below $29,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $29,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it remains below $30,000 for a long time. Bitcoin Price Trims Gains Bitcoin price failed to settle above the $30,000 resistance zone. BTC started yet another decline below the $29,650 and $29,500 levels to move into a bearish zone. It tested the $29,100 support zone. A low is formed near $29,100 and the price is now consolidating losses. There was a minor upside correction above the $29,250 resistance zone. It cleared the 23.6% Fib retracement level of the downward move from the $29,694 swing high to the $29,100 low. Bitcoin is now trading below $29,500 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance near $29,400 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $29,360 level. The next major resistance is near the trend line and $29,400. It is close to the 50% Fib retracement level of the downward move from the $29,694 swing high to the $29,100 low. A close above the trend line could start a decent increase toward $29,650. Source: BTCUSD on TradingView.com The main resistance is still near the $30,000 level. A close above $30,000 could start a steady increase. In the stated case, the price could rise toward $30,500 or even $31,200 in the coming days. More Losses In BTC? If Bitcoin fails to clear the $29,400 resistance, it could continue to move down. Immediate support on the downside is near the $29,200 level. The next major support is near the $29,000 level or the recent low. A downside break below the $29,000 level might start another steady decline. In the stated case, the price could revisit $28,800. Any more losses might call for a move toward the $28,500 level in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $29,200, followed by $29,000. Major Resistance Levels – $29,400, $29,650, and $30,000.
 
According to Etherscan, the transactions were spread out at an interval of an hour. Since the beginning of 2023, Voyager has been gradually selling down its SHIB assets. According to Etherscan, on August 11th, insolvent crypto lender Voyager Digital sent 1,500 Ether to the crypto exchange Coinbase. This transaction was valued at around $2.77 million. Moreover, around 250B SHIB were also sent to the exchange. Many in the cryptocurrency world are wondering what the transactions might possibly mean. One possible explanation is a sell-off. Furthermore, the transactions were spread out at an interval of an hour. The sudden transfer of the tokens has sparked talks about probable liquidation. However, there are rumors that Voyager is moving tokens from their current addresses into a single primary address. The nature of these transactions has been the subject of conjecture in the larger ecosystem, according to on-chain statistics initially revealed by prominent journalist Colin Wu. Gradually Dumping SHIB Since the beginning of 2023, Voyager has been gradually selling down its SHIB assets, lending credence to rumors of an impending sale. The corporation moved digital assets worth roughly $10 million to several cryptocurrency exchanges in a single day in February. There were 270 billion SHIB transferred, with a value of $3.2M; 4.9M Voyager Token (VGX) tokens, with a value of $2.1M; 3,050 ETH tokens, with a value of $3M; and 221,000 Chainlink (LINK) tokens, with a value of $1.5M. According to blockchain research firm Lookonchain, Voyager sold digital assets worth over $56 million across three cryptocurrency exchanges prior to the US’ court-ordered purchase of the lender’s assets. About 350 billion SHIB tokens were transferred in a variety of transactions by the bankrupt lender three months later. Highlighted Crypto News Today: Shiba Inu Team Teases About Upcoming Shibarium Mainnet Release
 
The bank predicted that the gold tokens will serve as a complementary currency to the USD. To combat locals’ thirst for U.S. dollars, the RBZ introduced the gold-backed tokens in May. The Reserve Bank of Zimbabwe (RBZ) has announced that readiness for the launch of GBDT (gold-backed digital tokens) for use in transactions is at a high point as of this month. Upon launch, the bank predicted that the gold tokens will serve as a complementary currency to the U.S. dollar. Governor John Mangudya of the Reserve Bank of Zimbabwe (RBZ) said in the bank’s recently issued mid-term monetary policy statement that the RBZ would soon launch awareness programs to “educate the public on the use and benefits of GBDT.” The Confederation of Zimbabwe Industries (CZI), one of the main players Mangudya said, has committed to adjusting its infrastructure so that GBDT-denominated cards may be issued. Alternate Form of Currency To combat locals’ thirst for U.S. dollars, the RBZ introduced the gold-backed tokens in May. However, the governor of the central bank said that the GBDTs had already shown to be a successful monetary policy tool only a few months after their introduction. According to Mangudya, GBDTs have subsequently shown to be a useful tool for domestic monetary policy, with the ability to speed up the return to normality in the domestic financial and capital markets. The RBZ governor said that just 769 gold coins, or around 2% of the total, had been redeemed at the conclusion of the 180-day vesting period, out of the 36,059 coins sold earlier by July 14. Mangudya claims that people are keeping their gold coins as an alternate form of currency because of the poor redemption rate. Highlighted Crypto News Today: Ethereum (ETH) Price Consolidates Amid Low Volatility
 
The dynamic and ever-evolving blockchain community has shown a great deal of interest in and enthusiasm for Toncoin (TON). Due to its technological underpinnings and innovative answers to the long-standing problems that have plagued the field of decentralized finance, this digital money has risen to popularity very quickly. At the time of writing, TON was trading at $1.46, registering an impressive 10.4% increase in the last 24 hours. Equally impressive is the crypto’s price rally in the last week, when it registered a 22% climb, data from crypto market tracker Coingecko shows. Just lately, the price of Toncoin broke out in a big way, separating itself from a 30-day consolidation. During this period of consolidation, prices moved inexactly between $1.31 and $1.49, showing a restricted and steady trading range. Toncoin Shows Signs Of Resilience Several times throughout this period of consolidation, the cryptocurrency showed signs of trying to rise beyond the $1.50 barrier, which may have suggested a possible upward trend. However, bullish market forces were unable to push the price over the $1.50 level, and the price ultimately closed below that level. The continuation of these adverse influences indicates that traders and investors are currently exercising caution. The bears’ stubbornness implies there’s a widespread view that the market can’t handle a prolonged rise above $1.50 just yet. Toncoin At A Glance The Open Network, or TON for short, is a layer-1 blockchain that is both decentralized and fast. Established in 2018, it is a proof-of-stake (PoS) network that has gained massive adoption among crypto users for its lightning-fast transactions. TON set out to do some very big things, like simplifying transactions inside of Telegram. However, it encountered difficulty at every turn of its path. Despite the project’s initial focus on Gram, its native digital currency, it ran into trouble when the US Securities and Exchange Commission pointed out Telegram’s failure to register a substantial preliminary $1.7 billion Gram token sale. Possible Revisit Of Resistance Level This regulatory worry caused a brief halt in Gram sales, and the unrevealed offering ultimately led to a legal setback. Simultaneously, a slew of cyberattacks cast a pall over the TON’s appeal. Meanwhile, the present market structure indicates that the Toncoin price may revisit the resistance level of $1.49 if bulls can push prices above the support turned resistance of $1.31. For this to be even remotely credible, a candle closure over $1.31 would be required. If the TON price, however, rejects $1.31, it may return to the current support level of $1.17. (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 Hello Subscription
 
The Shiba Inu (SHIB) coin has exceeded even the top 10 established cryptocurrencies this week, posting a solid 15% increase that has captivated the attention of the cryptocurrency community. The notable ascent in SHIB’s price is closely associated with its current rate of burning, which has witnessed a significant upturn in the last 24 hours. Based on the Shibburn data, a total of 111,799,146 SHIB tokens have undergone incineration, leading to a substantial 57% surge as per the most recent update. Shiba Inu Gets Price Boost From Burn Rate Throughout the course of the week, the burn rate of SHIB has exhibited a constant upward trend, closely aligning with its favorable price trajectory. The consistent pattern observed indicates the possibility of a steady and continuous increase in the price of the asset over a prolonged duration. This can be attributed to the natural expansion of trading volume inside the Shiba Inu ecosystem. In the midst of current market trends, SHIB is demonstrating its ability to transcend its origins as a meme coin by exhibiting resilience, as evidenced by a significant 9.2% spike in price in the last 24 hours that resulted in its value reaching $0.00000940. Bitcoin, in comparison, was trading at $29,383, down a meager 0.1% in the last 24 hours, while managing to gain 1.3% in the last seven days, data from crypto market tracking site Coingecko shows, Sunday. The current increase in value represents a noteworthy achievement for SHIB, as it has exhibited sustained development throughout the preceding week. Shibarium Launch Also Provides Big Price Lift Furthermore, the imminent introduction of Shibarium, a Layer-2 protocol with advanced functionality, constructed on the Ethereum network, contributes to the heightened anticipation and price lift for SHIB. Meanwhile, data obtained from Coinglass provides a compelling depiction of a notable increase in open interest observed in Binance’s SHIB futures market. The current surge has exhibited a tremendous growth rate, increasing by almost 100% in just one month. The substantial rise in open interest and market capitalization of SHIB indicates a considerable influx of capital. The historical context is interesting since it often aligns with instances of Bitcoin price swings. SHIB And Its Correlation To Bitcoin Over the course of SHIB’s existence, there have been around seven occurrences in which its open interest surpassed the significant milestone of $100 million. Significantly, each of these instances coincided with fluctuations in the valuation of the alpha crypto, Bitcoin. (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 Advance Auto Parts
 
Voyager Digital has been busy in recent months as it looks to sell its remaining crypto holdings on centralized exchanges. In its latest move, the bankrupt crypto brokerage has transferred millions in SHIB and ETH to Coinbase. According to on-chain data, Voyager moved SHIB and ETH tokens to Coinbase’s ledger on Friday, August 11. Millions In SHIB And ETH Transferred To Coinbase By Voyager Voyager has been selling off assets since the beginning of the year. Specifically, the latest on-chain transactions show that Voyager moved a total of $5.5 million in crypto to Coinbase. The transactions consisted of 1,500 ETH sent in two transactions. Before being moved to Coinbase, 1,000 ETH and 500 ETH, with a combined value of $2.77 million, were sent to separate wallets. Another 250 billion SHIB valued at $2.7 million was then sent to Coinbase. On-chain data also shows that Voyager has been moving all its token holdings to its primary address. This likely means the company is consolidating its crypto assets before moving them to crypto exchanges. Looking To Pay Pack Customers Voyager’s goal is to eventually reimburse all customer accounts, at least partially. The firm went bankrupt last year after the failure of crypto hedge fund Three Arrows Capital which failed to repay its $665 million Voyager loan. The company, however, received court approval in May 2023 to begin winding down its operations and start repaying customers a portion of their crypto assets that’s been locked for over a year. According to court filings, Voyager had only about $630 million to pay back $1.8 billion in customer claims. As a result, Voyager users could only claim 35.72% of their tokens. They could either withdraw their claims immediately or choose to wait for 30 days to be paid in USD after Voyager sells the tokens. At the time, data from Arkham Intelligence showed that Voyager had $268 million in ETH, $236 million in USDC, and $77 million in SHIB. But now that the time for customer claims is over, Voyager seems to be consolidating its remaining assets into one address before selling them. According to Arkham Intel, there is currently about $81.63 million worth of cryptocurrency left in Voyager addresses. What This Means For SHIB And ETH Prices The recent transfers of millions of dollars in SHIB and ETH tokens from Voyager Digital to Coinbase could signal selling pressure is on the way for the two cryptocurrencies. If Coinbase unloads these tokens onto the open market, it may drive prices down further as supply outpaces demand. SHIB is currently on a roll and is up by 15.55% in a 7-day timeframe. ETH, on the other hand, is currently ranging around $1,850 after the ETH ecosystem reached a milestone recently with the number of non-zero addresses reaching a new all-time high.
 
Ethereum price struggles to cross $2,000, amid low volatility. SEC’s Spot Bitcoin ETF delay has severely affected the crypto market. Ethereum, the second-largest cryptocurrency by market capitalization has shown relatively neutral momentum. Currently priced at $1,850, it is yet to breach the $2,000 mark, a level achieved two weeks prior. This came after a partial win for Ripple in the SEC lawsuit, which was short-lived. Examining the past month, Ethereum experienced a decline of 1.83%, reflecting a downturn in its trajectory. However, in the last week, the cryptocurrency demonstrated resilience in the face of the US Consumer Price Index (CPI) release, leading to a modest 0.18% surge. Despite these recent shifts, Ethereum remains 62.18% away from its all-time high (ATH) set two years ago on November 16, 2021. Looking at the domain of Exchange Traded Funds (ETFs), there are presently 14 active futures-based ETH ETF filings in the US. With the first verdict expected around October, the Ethereum market grapples with a lack of decisive momentum. Also, this scenario is further complicated by a lack of catalysts in the Bitcoin market. In the recent context of ETF-related news, the US Securities and Exchange Commission (SEC) has deferred the decision on Cathie Wood’s Ark Invest Bitcoin Spot ETF application. This delay originates from the SEC’s call for public input regarding amendments to the ETF applications, only days before the scheduled decision date. Proximity to a Neutral Stance The daily price chart showcases the silent battle between the bulls and the bears. An assessment of the daily Relative Strength Index (RSI) shows that ETH has slightly dipped below the neutral zone, with a value of 47. This suggests a proximity to a neutral stance, adding to the uncertainty. Looking ahead, the outcome hinges on whether Ethereum can transcend a bullish momentum. There is a possibility that the ETH/USDT pair might surge to $1,917 and even reach $2,018, should a bullish trend emerge. Conversely, negative sentiment could push the price downwards to $1,600 or even $1,458. When will ETH reach $2000 again? Share your thoughts by tweeting us at @The_NewsCrypto
 
All eyes are on the Blockchain Futurist Conference and ETH hackathon in Canada. The Shibarium mainnet launch will likely occur on August 15–16, 2023. The Shiba Inu team has been hinting at the impending release of the Shibarium mainnet this week at the upcoming event. All eyes are on the Blockchain Futurist Conference and ETH hackathon in Canada. The SHIB price has been on an upward trend for the previous few days leading up to the release, in contrast to the rest of the cryptocurrency market which has been moving sideways since the announcement of the delay in spot Bitcoin ETF by the U.S SEC. The official SHIB Twitter account has recently hinted with a “Soon” tweet in reference to the impending Shibarium debut. The Shibarium mainnet launch will likely occur on August 15–16, 2023 during the Blockchain Futurist Conference in Toronto, Canada. High Volatility Expected Moreover, on Saturday, the $SHIB burn tracker noted the transfer of 18,702,159 SHIB to a dead wallet. Traders have been waiting for the Shibarium release for quite some time, thus it is unclear how the debut will affect the price of the SHIB token. Furthermore, new data from IntoTheBlock shows a staggering 1,194% growth in investment from SHIB whales. The present bullish state is highlighted by an uptick over the short-term 50-day SMA. If the current trend continues, SHIB might face resistance between $0.00000908 and $0.00001280. A reversal in trend, on the other hand, might send prices down below $0.00000774 and $0.00000708 to the support levels. According to CMC, the price of SHIB is $0.000011 USD with a 24-hour trading volume of $659,775,755 USD. Shiba Inu is up 2.56% in the last 24 hours. Highlighted Crypto News Today: Curve Finance To Compensate Funds Lost in Recent DeFi Attack
 
With multiple applications for a spot Bitcoin ETF already filed, many have continued to speculate when the SEC is likely to give its approval or otherwise. To further add to speculations, Galaxy Digital CEO Mike Novogratz, citing his sources, stated that approval was likely to come within four to six months. However, recent developments seem to suggest that the wait could be longer. SEC Stalling? In a release dated August 11, the US Securities and Exchange Commission (SEC) has moved to delay the ARK 21Shares Bitcoin ETF in a move that could be seen as a delay tactic by the regulator. Cathie Wood’s ARK Invest and 21Shares had collaborated again to refile for a spot Bitcoin ETF earlier this year after the SEC rejected previous applications. Following the standard procedures, the SEC was meant to approve or disapprove the application by August 13. However, with its latest order calling for public input on ARK 21 Shares application, this deadline is consequently extended. With this, the general public has three weeks to give further comments on the proposal, while the SEC has another five weeks to respond to any comments it may receive. Furthermore, the SEC can choose to extend the deadline by 240 days at the maximum (a move that could potentially delay a final response until Jan 10, 2024). This news would most likely not come as a surprise to ARK Invest’s CEO Cathie Wood, as she had predicted a delay when speaking to Bloomberg on August 7. She also forecasted that the SEC might approve multiple Bitcoin ETF applications. However, nothing is certain, as the regulator could also deny all applications as it has done in the past. Concerns Over Bitcoin Manipulation & Regulation While the crypto community swallows the hard pill of the SEC’s latest move, some experts have called attention to the SEC’s multiple uses of the word “manipulation” in its latest release. This is worrisome, considering that the SEC had previously rejected spot Bitcoin ETF applications on the grounds of potential market manipulation. Furthermore, the SEC’s continued reference to this word may also mean that the regulator, maybe in a bid to frustrate these applications, could ask that they prove that Bitcoin is not a manipulated asset class. That will undoubtedly be a huge ask considering that, over time, there have been instances that raised speculations that the crypto market can be manipulated by major players. Furthermore, Bitcoin is a borderless and decentralized currency, and even if the SEC were to move to regulate its use in the US, the ETF market could still be manipulated by external activities from outside the US. The SEC also made raised concerns about Bitcoin not having a “regulated market or significant size,” something which could hinder the approval of any spot-traded Bitcoin ETF. The agency pointed out the fact that Bitcoin Future ETFs were approved because they were regulated by the Commodity Futures Trading Commission (CFTC). Meanwhile, Bitcoin isn’t regulated by any agency.
 
Chainlink (LINK) has been one of the top trending tokens in recent weeks due to a combination of an overall positive price movement as well as exciting on-chain developments. Following a recent buying spree in the LINK market, crypto analyst Ali Martinez has taken to social media platform X, providing some insights on the token’s potential price action. 29,000 Wallets Purchase 295 Million LINK Forming Major Support Level On August 11, Ali posted on X stating that Chainlink has established a strong support zone between $6.63 and $6.88 as about 29,000 addresses purchased over 295 million LINK at this price range based on data from analytics firm IntoTheBlock. Moving on, he postulated that as long as the altcoin was trading above this price zone, investors were likely to continuously remain bullish, especially as Soon-chain data shows that there are no significant resistance levels ahead. According to Ali, a good number of LINK whales have already recognized the $6.63-6.88 zone as “robust” price support and are actively accumulating more tokens. He highlighted that in the past 14 days, LINK whales have purchased an estimated 13 million LINK worth around $91 million. However, while these developments may be considered indications of a bullish LINK market, Ali states that traders anticipating a market breakout may still need to exercise some patience. Using data from IntoTheBlock, the crypto analyst draws attention to the declining network activity on the Chainlink network in the last three weeks. Ali stated that during this period, the number of large LINK transactions had gone down from 527 to 118. He concluded his market report by stating a boost in this metric is likely to precede any market breakout. At the time of writing, LINK is exchanging hands at $7.44, with a 1.36% decline in the last day, according to data from CoinMarketCap. However, the token is up 3.66% and 17.67% in the last seven and thirty days, respectively. More Good News For Chainlink Aside from Ali’s market analysis, there has been other positive news about Chainlink in recent days. Also, on August 11, market intelligence firm Santiment reported LINK had experienced its highest level of dormant coin movements in the last six weeks. According to Santiment, this represented a decline in LINK’s mean dollar invested age curve, pointing to a decrease in the token’s time in wallets which is usually a precursor for a rise in market cap. In addition, Chainlink has maintained a rise in its development activity over the last few months. Based on data from Santiment, development activity on Chainlink went up from 1579.12 on May 31 to 1706.48 on August 3.
 
The dynamic world of cryptocurrencies has once again witnessed a fascinating turn of events, this time with THORChain (RUNE) taking center stage. Over the past seven days, THORChain has experienced a substantial surge in its price, marking an impressive increase of 20.19%. This resurgence has sparked intrigue and excitement among crypto enthusiasts and investors, prompting a closer examination of the factors contributing to this rapid upward movement. The Catalysts Behind The Surge RUNE has made a resurgence in recent months from its lows in June to its recent highs gaining 40% during this period. However, its price is still 10% down from the start of the year and there are expectations that this could be an extended bullrun. Related Reading: Shiba Inu Keeps Energy Alive, Snags 26% Gain – Here’s The Inside Scoop The surge in THORChain’s price invites a deeper investigation into the underlying dynamics and catalysts that have propelled this substantial price rally. While a myriad of factors often influences the cryptocurrency market, several key drivers may have played a role in THORChain’s recent surge: Substantial progress in THORChain’s underlying technology, protocol enhancements, and ecosystem expansion has triggered renewed interest and investment. Positive fundamental developments often align with price surges as investors anticipate potential long-term growth prospects. Cryptocurrency markets are renowned for their inherent volatility. While volatility can create risks, it allows traders to capitalize on price swings. The recent surge in THORChain’s price may be driven, in part, by heightened market volatility. THORChain (RUNE): Forecasting Future Trajectories Considering THORChain’s recent surge, attention naturally turns to the future prospects of this cryptocurrency. Various experts and analysts have offered their insights into THORChain’s potential trajectory. Related Reading: GMX Drops 24% in 1 Month, Whales Rapidly Selling: What’s Going On? According to short-term prediction, THORChain’s price could experience a minor retracement to $1.02 by August 16, followed by a recovery to $1.24 by September 9. This prediction underscores the inherent volatility of short-term price movements. Looking ahead to 2023, divergent forecasts paint a range of possibilities. CaptainAltCoin suggests a potential dip to $0.6726 by October, with the year closing at $0.8817. However, if the bull run continues to persist there could be a spike to $2.12 by the year’s end. Navigating The Unpredictable Path Ahead As THORChain continues its remarkable surge, the crypto community remains captivated by its price movement. The convergence of various factors, including market sentiment, technical indicators, fundamental developments, and overall market volatility, has likely contributed to this recent rally. However, the cryptocurrency landscape is known for its unpredictability, and the path ahead for THORChain remains uncertain. (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, chart from TradingView
 
In the context of the constantly changing and complex cryptocurrency industry, Bitcoin is currently facing a critical point in its trajectory, as it confronts a range of heightened price pressures that pose significant challenges. The upcoming halving event in 2024 has generated significant anticipation, drawing attention to the complex interaction of various elements that contribute to the value and destiny of the subject in question. Bitcoin’s value has increased by 75% so far this year despite having to deal with regulatory scrutiny and fraud. The leading crypto in terms of market cap and widespread adoption has shown surprising resilience in the face of US Securities and Exchange Commission enforcement actions against key exchanges like Binance.US and Coinbase. Bitcoin’s Price Performance Currently, Bitcoin is trading around $29,411, up a meager 0.2% in the last day, but managed to gain a decent 1.4% in the last week, data from crypto market tracker Coingecko shows. Bitcoin is currently showing a neutral stance in the market and facing resistance as it tries to surpass the key $29,600 mark. If there’s a bullish breakout above $29,600, it could potentially open up the path for Bitcoin to reach the $30,200 level. The top coin has already reached the 61.8% Fibonacci retracement level, which is at $29,200. On the other hand, Bitcoin’s price could change in a big way if it can break through the support level at $30,200. This accomplishment could act as a catalyst and push the value of the coin into a new range, which is thought to be between $30,600 and $31,000. Such a breakthrough could make the market more hopeful and boost investor trust, which could set the stage for more growth. The critical zones to watch are at $29,800 and $30,200. If Bitcoin’s price moves below these levels, it could indicate a bearish trend for the cryptocurrency. Bitcoin Price Prediction Meanwhile, Cypherpunk figure Adam Back has bet on Bitcoin hitting six figures by March 2024. He made the wager on Twitter, predicting that Bitcoin will surpass $100,000 before the March 31, 2024 halving. The bet is with the Twitter user “Vikingo,” with the winner receiving 1 million satoshis (0.01 Bitcoin). For Bitcoin to meet this target, it needs a 243% increase in the next eight months. Before the previous halving in May 2020, Bitcoin saw a range-bound period without major gains. The most significant price surge occurred about six months post-halving, initiating a bullish market trend in November of that year. Understanding Bitcoin Halving Bitcoin halving refers to the occurrence where miners’ rewards for validating blockchain transactions are halved. This event takes place roughly every 210,000 mined blocks, which translates to approximately every four years. Introduced by Bitcoin’s creator, Satoshi Nakamoto, in 2009, halvings serve the purpose of regulating asset supply. The mining reward reduces by half every 210,000 blocks, aligning with Nakamoto’s original vision as outlined in the white paper. This mechanism ensures controlled creation of Bitcoin and maintains incentives for miners. The historical trend of halvings driving price escalation underscores the intricate interplay between scarcity, demand, and Bitcoin’s valuation, accentuating the anticipation surrounding the forthcoming halving’s influence on prices. (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 Deltec Bank & Trust
 
North America could see its share in the global trading volume for crypto-related exchange-traded funds (ETFs) grow even further if spot Bitcoin ETFs are approved in the United States, a Bloomberg analyst said. This comes after the US Securities and Exchange Commission (SEC) issued a delay letter regarding Ark Invest’s application for a spot Bitcoin ETF. In a widely-anticipated delay, the SEC is asking for new written comments on the spot Bitcoin application. Some of the issues raised by the commission include the suitability of Bitcoin as an underlying asset of an exchange-traded product, and the resistance of Bitcoin to price manipulation, amongst other things. The Ark Invest spot ETF, proposed by leading asset management firm ARK Invest in conjunction with Swiss-based 21Shares, would give investors indirect exposure to Bitcoin, the largest cryptocurrency in the market. This recent setback has raised questions about the fate of the spot Bitcoin ETF applications of other asset management companies, including Blackrock, Valkyrie, WisdomTree, etc. North America’s Share Of Global ETF Trading Volume To Reach 99.5%? In the event that the spot Bitcoin ETF applications get greenlighted by the SEC, Bloomberg ETF analyst Eric Balchunas said that the North American region may see its percentage of the crypto ETF trading volumes reach 99.5%. According to his post on X (formerly Twitter), North America currently accounts for 97.67% of the total crypto ETF trading volume in the world. “If/when spot ETFs come out in the US this will likely go to like 99.5%,” Balchunas noted. In another post, the Bloomberg analyst disclosed that most of the best-performing equity ETFs in 2023 are crypto-related. At the top of this list is $WGMI, the Valkyrie Bitcoin Miners ETF, with a year-to-date return of 227%. This actively-managed fund invests in public companies in the Bitcoin mining industry, including Riot, Bitdeer, Cipher Mining, etc. Given the positive performance of these mining firms’ stocks, it is no surprise that investment products, like $WGMI, are doing well. Other top-performing crypto-related exchange-traded products on this list include the VanEck Digital Transformation ETF, with a YTD return of 182%; the Global X Blockchain ETF, which has returned 168% so far in 2023; and the Bitwise Crypto Industry Innovators ETF, also up by roughly 168% year to date. Pending Grayscale Lawsuit To Be Pivotal To Bitcoin ETF Approval In 2022, Grayscale Investments sued the SEC for rejecting the application to convert its flagship product, GBTC, into a spot Bitcoin ETF. According to Nathan Geraci, president of the ETF Store, the final judgment in this lawsuit could prove pivotal in the race for Bitcoin exchange-traded fund. Geraci commented on the delay of Ark Invest ETF: Earlier in March, Grayscale argued against the commission, questioning the logic behind allowing Bitcoin futures ETFs while disapproving similar spot Bitcoin funds. Subsequently, the Grayscale legal team submitted a letter in July, urging the Securities and Exchange Commission to approve all eight applications for Bitcoin spot ETF.
 
The assault, according to one Viper contributor, was likely organized for weeks. In exchange for returning the stolen monies, a 10% reward was proposed to the hacker. Curve Finance, a decentralized finance (DeFi) protocol, has announced that it would pay consumers who were affected by the recent attack that resulted in $62 million in losses. An official Twitter account said that continuing investigations were providing positive results, with almost 79% of the monies recovered so far. The platform also promised to determine how much each affected user should be reimbursed. Moreover, the purpose of this evaluation is to guarantee a fair allocation of funds. On July 30, bad actors exploited flaws in previous versions of the Vyper compiler used by Curve Finance. Well-planned Attack The perpetrator of the exploit targeted the Vyper compiler from versions 0.2.15 to 0.3.0. Experts in the sector stressed that a high level of expertise and big resources were required to identify the vulnerabilities. The assault, according to one Viper contributor, was likely organized for weeks before it was carried out. There is also rising fear that Arbitrum’s tri-crypto pool may have been compromised. The assault sent shockwaves across the whole DeFi community. An in-depth analysis of the hack highlighted a problem in the nascent cryptocurrency industry: the lack of appropriate incentives to detect vulnerabilities in earlier software revisions. In exchange for returning the stolen monies, a 10% reward was offered to whoever was responsible for the hack. Moreover, Etherscan reported that the total value of the returned money was 4,821 Ether, or $8,891,578. Highlighted Crypto News Today: Former President Trump Holds $250,000 Ethereum
 
FLOKI is up 3.21% in the last 24 hours as per data from CMC. The price had been on a bullish move, after reaching a low of $0.000021 on August 8. The FLOKI Community is excited over the recent update. The FlokiFi Locker has been deployed on the opBNB testnet as per the recent update by the team. By providing cheaper fees and better throughput, opBNB from BNBchain is a high-performance layer-2 solution that liberates its full potential. By making its utility products available to millions of new consumers on a high-performance blockchain supported by the world’s largest crypto brand, Binance, this move will help speed FLOKI adoption and increase the value of its products. In addition, FLOKI made significant headway in improving its digital financial services by forming a strategic agreement with BitGo, a market leader in crypto custody solutions and digital asset financial services, earlier last month. Potential Breakout Likely According to CMC, the FLOKI price today is $0.000023 USD with a 24-hour trading volume of $16,040,748 USD. FLOKI is up 3.21% in the last 24 hours. As per recent statistics, whales are dominating the token holdings with 52.85%. Source: CoinMarketCap The price had been on a bullish move, after reaching a low of $0.000021 on August 8. Ever since bulls have kicked on and driven the price higher. However, as the price nears the strong resistance level at $0.0000236, it faces selling pressure. If the price is able to breach and hold above this level then one can expect a strong rally. Moreover, if the price declines and breaches $0.000021, then a steep decline is on the cards. Highlighted Crypto News Today: Curve Finance To Compensate Funds Lost in Recent DeFi Attack
 
The developers of Roblox are banking on Hilton’s massive social media following. Hilton will conduct a metaverse performance on August 25. Slivingland, a metaverse experience created by Paris Hilton’s 11:11 Media, has recently been released on the online gaming platform Roblox. The developers of Roblox are banking on Hilton’s massive social media following (70 million users) to use and cherish the venue. Hilton, in 2019, invented the phrase “slivingland” by merging the concepts of “slaying” and “living your best life.” The purpose of this Roblox experience is to provide a central hub where fans of Hilton and 11:11 Media can come together to enjoy the latest in entertainment offerings like music, podcasts, television, movies, and intriguing business partnerships. Intuitive User Experience Hilton’s new initiative, Slivingland, is an innovative platform for strategic brand activations aimed at Generation Z, the metaverse, and other companies. Cynthia Miller, director of Web3 and the metaverse at 11:11 media, claimed that a team of twenty individuals worked to make Slivingland a virtual world that exemplifies innovation, fun, and teamwork. Hilton will conduct a metaverse performance on August 25 to celebrate the debut of Slivingland, where she can show off her skills as a DJ while blending the real and virtual worlds. Hilton is looking for ways to improve her online fan engagement. Slivingland isn’t just about the music, however; there are plenty of attractions and activities available for visitors of all ages to enjoy. Players may explore the virtual environment and find its hidden treasures and easter eggs, such as holograms, a lively nightclub, a music mini-game, and charming pet sidekicks. On August 11th, Hilton will hold a Community Game Night on her Discord server, inviting fans to play the game together in real-time. Highlighted Crypto News Today: ApeCoin (APE) Surges 9% While Major Altcoins Bleed
 
Trump’s disclosed Ethereum wallet showcases holdings estimated at around $250,000. He has previously denounced cryptocurrencies as not money and called it a scam. Donald Trump, the former United States President, holds a substantial amount of cryptocurrency in an Ethereum wallet. The revelation underscores the evolving relationship between politics and cryptocurrencies. The wallet appears to be linked to a collection of non-fungible tokens (NFT) that he sold after leaving the White House. According to the Financial Disclosure, Trump’s Ethereum wallet showcases holdings estimated at around $250,000. The emergence of a prominent political figure like Trump as a cryptocurrency holder introduces a new layer of intrigue and credibility to the sector. However, this report has caused some controversy, particularly in light of Trump’s prior remarks on the world of digital currencies. Trump’s Claims Are in Opposition to the Report In April 2019, Donald Trump tweeted, “I’m not a fan of Bitcoin and other Cryptocurrencies, which are not money.” Moreover, he added that unregulated Crypto Assets facilitate unlawful behavior, including drug trade and other illegal activity. He has previously denounced cryptocurrencies as not money and called it a scam. Such claims are in opposition to the latest findings regarding his Ethereum holdings. As indicated by his Ethereum investment and rumored campaign financing plans, he appears to be aware of its financial possibilities. Spokespeople for Trump did not respond to a request for comment. In recent days, U.S. presidential candidates have continuously expressed their ideas on the crypto sector in their election campaigns. There is a rising rumor that he is investigating Bitcoin and decentralized finance (DeFi) to raise money for a prospective presidential campaign in 2024.
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