In the world of Bitcoin, silence is not always golden. The recent weeks have seen Bitcoin’s price volatility drop to historical lows, with the BTC price trading mostly between $29,000 and $30,000. However, beneath this placid surface, a number of intriguing market dynamics are at play. “Realized volatility for Bitcoin has collapsed to historical lows. Across 1-month to 1yr timeframes, this is the quietest we have seen the corn since after March 2020. Historically, such low volatility aligns with the post-bear-market hangover periods (re-accumulation phase),” stated Checkmate, lead on-chain analyst at Glassnode. The chart shared by Checkmate shows that annualized realized volatility resembles the post-bear era for Bitcoin from March 2020 when volatility was at 47%. Currently, 1-year volatility sits at 49.1%, 3-month volatility at 35.5%, and 1-month volatility at 22.9%. Quit Before The Storm For Bitcoin However, the low volatility is not the only story. Checkmate also highlighted a new all-time high for Bitcoin’s long-term holder supply, now at 14.59M BTC, which accounts for 75% of the circulating supply. This shows that an increasingly high number of Bitcoin investors are convinced of a future rally, leading to a supply shortage, while high risk traders are washed out of the market due to lacking volatility. Simultaneously, there’s a surge in institutional positioning; volume and open interest of the CME Bitcoin futures have reached a 20-month high in July. Despite the Bitcoin spot markets recording low volumes, the CME futures saw the highest volume since January 2022, with $55.8 billion in July. The CTFC data reveals a fascinating slugfest between two investor groups. Asset managers are $1.2 billion net long, while hedge funds are net short by -$980 million. This standoff suggests an imminent breakout in Bitcoin’s price, potentially leaving one of these groups with burnt fingers. On-chain analyst Ali Martinez provided further insight: “Even as Bitcoin dropped from $32,000 to $29,000, the number of new BTC addresses steadily rose! This bullish divergence between price and network growth hints at a stable long-term BTC uptrend. Buy the dip!” Indeed, the current low volatility phase is not without precedent or predictive power. Renowned analyst @CryptoCon provides a compelling perspective on this, stating that such periods of sideways price action are not only normal but potentially bullish. “Bitcoin sideways price action at this point in the cycle is completely normal! The 2 Week Mass Index crosses into the golden pocket at the most stagnant cycle points, just before massive bullish moves. Data everywhere points to the same conclusion: Low volatility is bullish,” CryptoCon tweeted. Chris Burniske, partner at Placeholder VC, also shared his perspective on the current market dynamics. “Currently, tourists are inactive while residents are accumulating swiftly, owning 74.8% of all supply. That’s consistent with an early-stage bull market. Thirty percent of BTC has left for cold storage since 2020, leaving exchanges with 2.26 million. Bitcoin seems fairly valued relative to the number of active entities on the network.” Burniske’s simplified price/cycle model projects Bitcoin to reach near $39,000 by the fourth quarter of 2023 and $92,000 (base scenario) by Q4 2025 with entities above 600,000. In conclusion, the current low volatility phase of Bitcoin may seem uneventful on the surface, but the underlying market dynamics suggest a different story. The tug-of-war between asset managers and hedge funds, the steady rise in new BTC addresses, and the swift accumulation by long-term holders all hint at a brewing storm. At press time, the Bitcoin price was at $29,076.

Polygon (MATIC), a prominent player in the cryptocurrency market, faced a volatile journey in July, as it initially cleared significant gains but encountered setbacks that have left investors and enthusiasts eager for signs of a resurgence. As of the latest data from CoinGecko, the MATIC price stood at $0.66, reflecting a 24-hour slump of 0.4% and a seven-day decline of 4.7%. While the token’s price performance has been fluctuating, technical indicators suggest the potential for a rebound. Polygon: Testing Retracement Levels A crucial tool in analyzing MATIC’s price movement has been the Fibonacci retracement tool, which evaluates the retracement levels between the June low and July high. The 50% Fibonacci level, situated at $0.70, failed to uphold the pullback, raising concerns about the sustainability of the gains. The recent activity has seen the token testing the 38.2% Fibonacci level at $0.655, which has been retested twice, demonstrating its significance as a support level. Presently, MATIC has bounced off the 38.2% Fibonacci level, indicating potential for recovery. However, the overall market structure on higher timeframes remains bearish, and the interplay with Bitcoin’s performance can play a pivotal role. As Bitcoin exhibited weakness, a price rejection at the 50% Fibonacci level is a feasible scenario. The key intrigue lies below the 38.2% Fibonacci level, where bullish order blocks on both daily and weekly charts are positioned. These blocks, particularly the daily one which has already shown its impact, could mitigate further price decline should the 38.2% Fibonacci support give way. Both the 38.2% and 23.6% Fibonacci levels are emerging as critical interest points for bullish traders. Complex On-Chain Dynamics And Amazon’s Role While the Network Profit and Loss (NPL) data seems to suggest that MATIC might have reached a price bottom, a closer analysis of its on-chain performance raises concerns about a potential additional drop in value. This intricacy mirrors the broader struggles of the crypto market, which has been grappling with various regulatory, environmental, and adoption challenges. Amidst this backdrop, MATIC’s future remains uncertain. On a brighter note, Polygon’s collaboration with Amazon Prime presents an optimistic angle. Amazon Prime’s vast subscriber base, totaling around 200 million globally, offers an enticing prospect for the cryptocurrency’s adoption. Specifically, the Mojo Melee NFT-based gaming project built on the Polygon network is now offering free Polygon NFTs to Amazon Prime subscribers. This partnership could potentially boost demand for Polygon’s network and contribute to its market resilience. While challenges persist, the Polygon and its native coin’s potential to adapt and thrive cannot be underestimated, making it a compelling asset to watch in the coming days. (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 Crazy Stats

As per CoinGecko, the index went live in the first week of August. BNB ranks first on the “Top Alleged Securities Coins” page. With the advent of a new index, CoinGecko is now keeping tabs on the most prominent digital tokens that are likely viewed as securities by the United States SEC. According to market cap, BNB ranks first on the “Top Alleged Securities Coins” page, followed by Cardano (ADA), Solana (SOL), and TRON (TRX). Moreover, according to a representative from CoinGecko, the index went live in the first week of August and was built by aggregating a number of the most prominent tokens that had been designated securities by the SEC in previous litigation. Regulatory Scrutiny The financial watchdog has filed lawsuits against Coinbase and Binance, bringing the total number of tokens it sees as securities to 68, but CoinGecko is limited to 24. Also, approximately 7.5% of the whole crypto market valuation is represented by the top coins included in the SEC’s litigated remit of the crypto sector, according to CoinGecko’s website. After earlier stating that “everything other than Bitcoin” is a security and so comes within the agency’s mandate, SEC Chair Gary Gensler has gone to considerable efforts to stress that the vast majority of cryptocurrencies should be considered securities. If so, then the SEC would have jurisdiction over almost all of the coins now listed on cryptocurrency exchanges. Coinbase has asked the judge overseeing the SEC’s lawsuit against them to dismiss the allegations in a brief filed on Friday. Also, in its brief, the exchange argued that decades of Supreme Court precedent holding that it does issue investment contracts are wrong. This occurs as pressure grows on U.S. authorities and officials to define the rules for the crypto space. Highlighted Crypto News Today: Justin Sun Addresses Huobi Exchange’s Bankruptcy Rumors

Blockstream CEO Adam Back predicts Bitcoin (BTC) will surpass $100,000 before its 2024 halving event. Currently, Bitcoin struggles to break the crucial resistance level of $30,000. Still, BTC golden cross and moving averages hint at potential future price growth. While Bitcoin (BTC) trading below $30K range, experts are pointing to bullish indicators that hint at the possibility of Bitcoin reaching an all-time high in the near future. Blockstream, a leading blockchain technology service provider, CEO Adam Back, one of crypto pioneers recently engaged in a million-dollar wager regarding Bitcoin’s price trajectory. He believes that BTC would reach $100,000 by March 31, 2024. Blockstream CEO confidently predicted that Bitcoin will surge over $100,000 before the BTC halving event which is expected to happen in 2024. This wager was made in response to a challenge posed by X (formerly known as Twitter) user Vikingobbitcoin, who believes the milestone won’t be reached until 2025. Adam tweeted about the bet to his 540K followers. However, Bitcoin remains standing at $29K, teasing $30K for the past few months. What will it take to push it past $30K? Bitcoin (BTC) 24-Hour Price Analysis BTC has maintained its value below the $30,000 mark, with the asset struggling to break the crucial resistance level amid extended consolidation across the global crypto market. At the time of writing, Bitcoin price stands at $29,099 with a 24 hour trading volume of $8 billion, indicating a 28% surge in trading activity. Also, Bitcoin price has seen a slight surge of 0.5% in a day. Bitcoin (BTC) Price Chart (Source: Tradingview) This recent price movement comes as the 50-day moving average approaches the 200-day moving average, signalling a potential buy opportunity. Daily frame chart displays the price of Bitcoin below the 50 Exponential Moving Average (EMA). Further, Relative Strength Index (RSI) currently stands at oversold state, indicating a slight advantage for bears. If Bitcoin manages to breach the $31,106 resistance level, it could pave the way for a substantial rise to $38,779. Conversely, if the bears take the lead the price of BTC immediately moves below the support at the level of $28,410 and might head to a downward shift, targeting levels of $27,088 and potentially even $24,947. Further, Bitcoin’s technical analysis suggests that the cryptocurrency might be headed for another all-time high based on historical price movements. Bitcoin (BTC) Chart (Source: Tradingview) A notable development is the recent accomplishment of the third-ever golden cross pattern, a long-term bullish signal. The golden cross is a bullish breakout pattern formed from a crossover, which a short-term moving average crosses above a long-term moving average. Crypto trading analyst TradingShot highlighted this pattern on August 4, noting that historical instances of this pattern have been associated with significant rallies to all-time highs. In the 3 day time-frame, Bitcoin just formed a Golden Cross. The MA200 provided support to a fresh all time high rally when BTC completed this pattern last two times. Will Bitcoin Price reach $100,000 before halving? Share your thoughts by tweeting us at @The_NewsCrypto Highlighted Crypto News Chainlink (LINK) Is on Investor’s Watchlist, Here’s Why ?

Musk’s tweets have been known to sway the crypto market, and now, the question arises: Will Pomerdoge be his next target for a tweet? As investors from Solana and Ethereum join the presale, there’s anticipation brewing over the potential impact of Musk’s influential digital nod. Let’s delve into the possibilities and market implications. Click Here To Find Out More About The Pomerdoge (POMD) Presale Pomerdoge (POMD): The Thriving Crypto Ecosystem Attracting Solana (SOL) And Ethereum (ETH) Investors Pomerdoge is making waves in the Play-to-Earn (P2E) crypto space, offering a unique combination of engaging gaming and economic opportunities. It’s not just a game but a thriving ecosystem where players can compete, earn POMD tokens, and interact with a wide array of in-game assets, including Non-Fungible Tokens (NFTs). The ERC20 token, POMD, is at the heart of Pomerdoge, driving every facet of the platform. It’s not just a currency; it’s an essential element of the gaming experience, fueling transactions, prizes, and an innovative rewards system. Presale participants who hold onto their POMD tokens could also earn a share of the game’s revenue. This offers yet another layer of incentive to an already packed ecosystem, attracting top investors from Ethereum and Solana. Pomerdoge is also making a playful splash in the world of meme tokens. With its charming Pomeranian mascot and a community-driven approach, Pomerdoge might just have what it takes to challenge the dominance of well-known meme coins like Pepe and Shiba Inu. There are even whispers that Elon Musk might be tweeting about Pomerdoge in the near future. His love for dog-related memes is no secret, so Solana and Ethereum whales are placing their bets in anticipation of the crypto mogul’s endorsement. With Phase 1 of the Pomerdoge presale underway, early adopters can grab POMD tokens at just $0.007 each. This initial price is a limited opportunity, set to rise in the subsequent phases. For those who join in on the ground floor, the potential returns are staggering. Some analysts are even predicting gains of over 2,600% to a possible price of $1.00 per token during 2023. Solana (SOL): From Stardom to Uncertainty Solana, once hailed as an emerging superstar in the crypto-verse has been struggling to maintain its glow amidst a volatile market. known for its high-speed and low-cost transactions, Solana experienced has experienced a strong rebound from $13 to a recent peak of $32. However, Solana has slipped back under support to a current price of $22.65 — a loss of 30% in three weeks. Some analysts believe the increase to $32 was simply a retest of the weekly resistance. While technical analysis predicts a potential bounce from the $22 support level, traders and investors must be prepared for further downward movements if this level fails to hold. For now, Solana’s trajectory hangs in a delicate balance between hope and disappointment. Ethereum (ETH): The Worrisome “Death Cross” and Its Historical Impact Just like Solana, Ethereum is navigating turbulent waters, with recent signs pointing to a potential storm ahead. After trying to breach the $2,100 resistance for 16 months, the Ethereum price now sits at $1,825. A looming “death cross” has now appeared on Ethereum’s weekly chart. This happens when the 50-period moving average has fallen below the 200-period moving average. Notably, Ethereum crashed by 60% the last time this occurred. Other ominous signals include the daily chart hinting at a possible dip to the 200-day MA at $1,761, and on-chain metrics like “Ethereum’s realized price” point to $1,507. A decrease in network activity and the risk of panic selling add to the uncertainty. With all of this worrisome news, Ethereum investors are now taking profits and looking for the next big market mover. Pomerdoge could be the answer — and Elon Musk’s seal of approval might be just what it needs to take off. Learn about Pomerdoge (POMD) Presale happening today. Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge Twitter: https://twitter.com/pomerdoge

Bullish AAVE price prediction for 2023 is $85.85 to $110.19. Aave (AAVE) price might reach $100 soon. Bearish (AAVE) price prediction for 2023 is $50.11. In this Aave (AAVE) price prediction 2023, 2024-2030, we will analyze the price patterns of AAVE by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION Aave (AAVE) Current Market Status What is Aave (AAVE)? Aave (AAVE) 24H Technicals AAVE (AAVE) PRICE PREDICTION 2023 Aave (AAVE) Support and Resistance Levels Aave (AAVE) Price Prediction 2023 — RVOL, MA & RSI Aave (AAVE) Price Prediction 2023 — ADX, RVI Comparison of AAVE with BTC, ETH AAVE (AAVE) PRICE PREDICTION 2024, 2025, 2026-2030 CONCLUSION FAQ Aave (AAVE) Current Market Status Current Price $65.31 24 – Hour Price Change 0.03% Up 24 – Hour Trading Volume $76,181,578 Market Cap $947,182,025 Circulating Supply 14,509,583 AAVE All – Time High $666.86 (On May 19, 2021) All – Time Low $25.94 (Nov 2020) SOL Current Market Status (Source: TradingView) Aave 24H Technicals (Source: TradingView) What is Aave (AAVE) TICKER AAVE BLOCKCHAIN Aave CATEGORY web3 LAUNCHED ON November 2017 UTILITIES Governance, security, gas fees & rewards Aave (AAVE) is the native governance token of Aave, a crypto borrowing and lending DeFi protocol on Ethereum. Aave (AAVE) was launched in 2017 as ETHLend. Aave protocol provides users to create and access liquidity pools for crypto-assets and real-world assets. Aave also allows lenders to earn interest rates on locking in their assets in the pool. Borrowers also avail of crypto-backed loans via decentralized smart contracts. AAVE token grants voting rights to its holders to participate in the governance of the protocol. Users can also deploy AAVE tokens as collaterals in the Aave protocol. The third version of Aave, Aave v3, confers more interoperability to the Aave protocol. Aave (AAVE) Price Prediction 2023 Aave (AAVE) ranks 45th on CoinMarketCap in terms of its market capitalization. The overview of the Aave price prediction for 2023 is explained below with a daily time frame. AAVE/USDT Descending Channel Pattern (Source: Tradingview) In the above chart, Aave (AAVE) laid out a Descending Channel. Descending Channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market. At the time of analysis, the price of Aave (AAVE) was recorded at $63.84. If the pattern trend continues, then the price of AAVE might reach the resistance levels of $75.14 and $86.51. If the trend reverses, then the price of AAVE may fall to the support of $61.91. Aave (AAVE) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Aave (AAVE) in 2023. AAVE/USDT Support and Resistance Levels (Source: Tradingview) From the above chart, we can analyze and identify the following as resistance and support levels of Aave (AAVE) for 2023. Resistance Level 1 $85.85 Resistance Level 2 $110.19 Support Level 1 $62.79 Support Level 2 $50.11 AAVE Resistance & Support Levels Aave (AAVE) 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 Aave (AAVE) are shown in the chart below. AAVE /USDT RVOL, MA, RSI (Source: Tradingview) From the readings on the chart above, we can make the following inferences regarding the current Aave (AAVE) 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 = $68.45Price = $63.60 (50MA > Price) Bearish(Downtrend) Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 38.77 <30 = Oversold 50-70 = Neutral >70 = Overbought Oversold Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak Volume Aave (AAVE) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of Aave (AAVE) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI). AAVE/USDT ADX, RVI (Source: Tradingview) From the readings on the chart above, we can make the following inferences regarding the price momentum of Aave (AAVE). INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 14.91 Weak Trend Relative Volatility Index (RVI) Volatility over a specific period 38.45 <50 = Low >50 = High Low Volatility Comparison of AAVE with BTC, ETH Let us now compare the price movements of Aave (AAVE) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs AAVE Price Comparison (Source: Tradingview) From the above chart, we can interpret that the price action of AAVE is dissimilar to that of BTC and ETH. That is, when the price of BTC and ETH increases, the price of AAVE decreases, if the price of BTC and ETH decreases, the price of AAVE increases. . Aave (AAVE) Price Prediction 2024, 2025 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Aave (AAVE) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030. Year Bullish Price Bearish Price Aave (AAVE) Price Prediction 2024 $102 $98 Aave (AAVE) Price Prediction 2025 $104 $95 Aave (AAVE) Price Prediction 2026 $106 $90 Aave (AAVE) Price Prediction 2027 $108 $85 Aave (AAVE) Price Prediction 2028 $110 $80 Aave (AAVE) Price Prediction 2029 $112 $75 Aave (AAVE) Price Prediction 2030 $114 $70 Conclusion If Aave (AAVE) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Aave (AAVE) price prediction for 2023 is $110.19. Comparatively, if unfavorable sentiment is triggered, the bearish Aave (AAVE) price prediction for 2023 is $50.11. If the market momentum and investors’ sentiment positively elevates, then Aave (AAVE) might hit $100. Furthermore, with future upgrades and advancements in the Aave ecosystem, AAVE might surpass its current all-time high (ATH) of $666.86 and mark its new ATH. FAQ 1. What is Aave (AAVE)? Aave (AAVE) is the governance token of the Aave protocol, a DeFi crypto borrowing and lending platform. AAVE was launched in 2017. 2. Where can you purchase Aave (AAVE)? Aave (AAVE) has been listed on many crypto exchanges which include Binance, OKX, WEEX, Deepcoin, and Bitrue. 3. Will Aave (AAVE) reach a new ATH soon? With the ongoing developments and upgrades within the Aave platform, AAVE has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of Aave (AAVE)? On May 18, 2021, Aave (AAVE) reached its new all-time high (ATH) of $661.69. 5. Is Aave (AAVE) a good investment in 2023? Aave (AAVE) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Aavein the past few months, AAVE is considered a good investment in 2023. 6. Can Aave (AAVE) reach $100? Aave (AAVE) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Aave (AAVE) will hit $100 soon. 7. What will be Aave (AAVE) price by 2024? Aave (AAVE) price is expected to reach $102 by 2024. 8. What will be Aave (AAVE) price by 2025? Aave (AAVE) price is expected to reach $104 by 2025. 9. What will be Aave (AAVE) price by 2026? Aave (AAVE) price is expected to reach $106 by 2026. 10. What will be Aave (AAVE) price by 2027? Aave (AAVE) price is expected to reach $108 by 2027. Top Crypto Predictions Kaspa (KAS) Price Prediction 2023 Helium (HNT) Price Prediction 2023 Injective (INJ) Price Prediction 2023 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.

Elon affirmed that X won’t launch any crypto token. Crypto investors on FUD; DOGE falls by 1.15% in 24H. The second week of August started with a boom in the crypto market where the unfortunate announcement spread around. The Boss of Twitter (known as ‘X’), Elon Musk has denied the launch of a crypto token for X. Following this denial of scam and rumors by Elon, Dogecoin (DOGE) went on an abrupt surge of over 2% which led to bullish momentum. As per the previous view on DOGE, it felt evident that Elon’s promotion had an impact. As of a recent update, Elon Musk said, “Never will X launch a crypto token.” Elon Musk Blowing Cryptocurrencies According to Forbes, Elon’s declaration creates wild speculation which might blow up the prices of cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE). Certain crypto analysts have predicted that the bearish sentiment might affect crypto trading. As it was believed that Elon promoted DOGE, now it doesn’t reflect the same whereas the recent surge on Friday has fallen by 1.15% according to CoinMarketCap. The global crypto market cap has decreased by 0.08% compared to the previous day. With the chance of the crypto market breaking down the wall, Elon’s stance of bringing up the price is higher. However, Elon considers the unlikely rumors being spread with no proper affirmation from X. On August 6, 2023, Elon tweeted, “We just keep making X better and better, every day.” Meanwhile, Mark Zuckerberg, the CEO of Facebook (termed ‘Meta’) commented, “Threads will copy and become better and better too.” Irrespective of the crypto community, the newer version of Twitter, X has bought changes into trading. The use of eToro if X doesn’t work as a crypto trading platform, might be useless. By the way, the curiosity of eToro was awakening at the moment of its arrival and Elon had an optimistic view over cryptocurrencies. Confusingly, the crypto investors are yet trading and the digital form of currencies might rule the nation in the future days as UPIs do up to date. The crypto market faces criticalities during the end of Q3. Challengingly, Q4 might turn effective towards the crypto market and its growth. Related Crypto News: Will Elon Musk Tweet About Pomerdoge Next?

In the realm of meme coins, PEPE’s Network Realized Profit/Loss (NPL) metric has emerged as a critical barometer, shedding light on price trends within the cryptocurrency landscape. This metric has now indicated a glimmer of a price floor for the frog-themed token that has been facing its fair share of challenges. As a result, a ray of positivity has dawned upon numerous investors who have been expecting a much-needed rebound, following a prolonged period of decline within the meme coins arena. However, a more meticulous analysis of the situation unveils a contrasting reality, suggesting that the token’s woes might be far from over. At first glance, the dip in PEPE’s NPL metric appeared to be an encouraging sign. Historically, a significant drop in this metric has often coincided with a price bottom in many cryptocurrencies. PEPE’s Misleading NPL Dip Conceals Ongoing Selling Pressure The recent uptick in PEPE’s 24-hour performance, with a 1.7% rally, seemed to lend credence to this belief. Nevertheless, deeper scrutiny of on-chain data reveals a less optimistic picture. While the NPL suggested a potential price floor, the broader on-chain performance of PEPE contradicts this notion. The token has experienced consistent and sustained selling pressure. Holders have continued to offload their tokens including meme coins, thwarting the possibility of a substantial price rebound. The 9.1% seven-day slump underscores the persistent challenges PEPE faces, casting doubt on the immediate potential for recovery. Insights From The Broader Crypto Market Struggle PEPE’s struggle is not occurring in isolation. The wider cryptocurrency market has been grappling with a plethora of challenges, including regulatory uncertainties, market sentiment shifts, and macroeconomic factors. The volatility that has become synonymous with the crypto landscape has impacted tokens across the spectrum, including well-established ones. This backdrop of uncertainty has resulted in heightened caution among investors. The fear of further price drops, according to a recent PEPE price analysis, prompts them to liquidate their holdings preemptively, even when metrics like NPL seem favorable. This collective behavior contributes to the sustained selling pressure observed in tokens like PEPE, despite signs that might hint at a price recovery. PEPE And Meme Coins: The Road Ahead While the dip in PEPE’s NPL initially raised hopes of a price bottom, a meticulous analysis uncovers the underlying challenges that continue to suppress the token’s recovery. The on-chain data reflects a consistent trend of token holders selling, which overshadows the potential for an immediate price rebound. Moreover, the broader struggles of the crypto market further exacerbate the situation, making it crucial for investors to manage their expectations. While metrics like NPL provide insights, they must be viewed within the larger context of market dynamics. Only by taking a holistic approach and considering multiple factors can investors make informed decisions that mitigate risks and capitalize on opportunities in this highly volatile environment. (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 Earth.com

There have been rumors that the cryptocurrency exchange is having financial difficulties. The top management of the exchange was allegedly detained in China on August 4. Fears of bankruptcy and reports that Chinese authorities are investigating Huobi’s management led to $64 million in withdrawals during the weekend. Total value locked (TVL) on the exchange fell to $2.5 billion from $3.09 billion the previous month as speculations persisted. The top management of the exchange was allegedly detained in China on August 4. The speculation was that this was due to a probe into the exchange’s connections with betting websites. Financial Difficulties Rumors The Chinese government seems to be tightening its regulations on crypto trading platforms. One of the exchange’s senior executives just quit, and it’s unclear whether this had anything to do with the ongoing investigations in China. Huobi’s social media head, however, has denied the claims, saying that the exchange is “currently doing well.” There have been rumors that the cryptocurrency exchange is having financial difficulties. Adam Cochran, an executive in the fintech industry and an angel investor, noticed discrepancies in the exchange’s Tether (USDT) balances. Huobi’s newest ‘Merkle Tree Audit’ says they have $630 million in USDT holdings, however on-chain data shows they have less than $90 million in assets as of August 5. According to Cochran, this indicates that Huobi may be insolvent and unable to pay its debts. The chief of the Huobi Exchange, Justin Sun, has addressed the claims that the platform is going bankrupt. On Twitter, Sun recently said: Highlighted Crypto News Today: Chainlink (LINK) Is on Investor’s Watchlist, Here’s Why ?

Bitcoin price is struggling to climb above $29,500. BTC remains at risk of more downsides if there is a close below the $28,800 support. Bitcoin is still struggling to gain pace above the $29,500 pivot level. The price is trading below $29,200 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $29,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase toward the $29,500 resistance zone. Bitcoin Price Stuck In Tiny Range Bitcoin price struggled to clear the $29,500 resistance zone. BTC started a fresh decline within the range and traded below the $29,250 level. There was a close below $29,250 and the 100 hourly Simple moving average. However, the bulls protected the range support at $28,800. The price traded as low as $28,800 and recently started a short-term upside correction. There was a move above the 23.6% Fib retracement level of the downward move from the $29,395 swing high to the $28,800 low. However, the bears were active near the $29,200 resistance zone. There is also a key bearish trend line forming with resistance near $29,100 on the hourly chart of the BTC/USD pair. Bitcoin price is trading below $29,200 and the 100 hourly Simple moving average. Immediate resistance is near the $29,100 zone, the trend line, and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the downward move from the $29,395 swing high to the $28,800 low. Source: BTCUSD on TradingView.com The first major resistance is near the $29,400 level. The next major resistance is near the $29,500 level, above which the price might rise toward the $29,750 resistance zone. A close above the $29,750 resistance zone could start a decent increase. In the stated case, the price may even surpass the $30,000 resistance. More Losses In BTC? If Bitcoin fails to clear the $29,100 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,000 level. The next major support is near the $28,800 level, below which the price could accelerate lower. The next support is near the $28,400 level. Any more losses might call for a move toward the $28,000 level in the near term. 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 – $29,000, followed by $28,800. Major Resistance Levels – $29,100, $29,400, and $29,500.

Chainlink’s development activity witnesses a substantial surge. LINK’s trading volume is up 2% amid bearish momentum. Chainlink, the leading Web3 services platform, is undergoing significant network enhancements. Notably, its GitHub development activity has surged this summer, propelling the asset into the top five most frequently developed assets, according to Santiment. The fourth quarter for Chainlink was marked by a flurry of updates, and development activity soared from 25.88% in February to 31.25%. LINK development activity, Source: Sanbase On July 17, the platform introduced its Cross-Chain Interoperability Protocol (CCIP). It aims to seamlessly integrate traditional financial institutions with many public and private blockchains. This move triggered a bullish rally, propelling Chainlink to hit a three-month high Moreover, in another strategic move, Chainlink Labs, the developer behind the industry-leading Web3 services platform, announced a partnership with GitHub. As the world’s largest AI-powered developer platform, GitHub will collaborate with select startups in the Chainlink BUILD program. Furthermore, a noteworthy development is the accumulation of Chainlink tokens by whales and high-volume traders holding between $100,000 and $10 million worth of LINK. This accumulation trend has reached its highest point since December 2022. In terms of trading volume, it has experienced a 2.01% increase, now totaling $132,300,234. Meanwhile, according to CoinMarketCap‘s report, the native token of Chainlink, known as Link, currently holds a value of $7.16. Experiencing a 5.60% decline, the asset finds itself in a state of bearish momentum, while its 50-day Simple Moving Average (SMA) stands at $7.23.

Shiba Inu’s lead developer, Shytoshi Kusama, finds himself at the forefront of a relentless battle against misinformation and scams targeting the meme coin’s investors. The recent incident involved debunking a scam related to the release of new tokens within the Shiba Inu ecosystem, sending a stern warning to the community to stay vigilant. The misinformation originated from a Twitter post that falsely claimed the imminent debut of new tokens named TREAT and SHI as part of the highly anticipated “Summer of Shibarium” campaign. Kusama quickly clarified that the information was a blatant sham, urging investors not to fall victim to such deceptive tactics. The “Summer of Shibarium” campaign, a strategic initiative by Shiba Inu, has garnered significant attention and excitement within the cryptocurrency community. It comprises a series of intriguing releases, culminating in the launch of the project’s Layer 2 blockchain, Shibarium, scheduled for August. As the campaign gains momentum, market interest in SHIB and related tokens has soared. Scammers trying to cash in Shibarium’s popularity However, with increased interest comes a rise in fraudulent activities preying on unsuspecting investors. The Shiba Inu community has been cautioned to remain cautious and vigilant against scams. The Shibarmy Scam Alerts Twitter account has been actively issuing warnings about fake support accounts and suspicious links circulating in the ecosystem. Shytoshi Kusama has emerged as a vocal advocate for vigilance and investor education to combat the surge in scams. While the “Summer of Shibarium” campaign promises excitement and potential growth, it is essential for market participants to exercise caution and scrutinize all sources of information thoroughly. As the launch of Shibarium draws closer, the cryptocurrency market remains ripe with both opportunities and risks. The Shiba Inu community, investors, and enthusiasts alike are encouraged to approach the burgeoning excitement with a balanced mindset, emphasizing due diligence and responsible investing practices. By remaining informed and cautious, participants can better navigate the cryptocurrency landscape and protect themselves from falling prey to malicious schemes.

Shiba Inu (SHIB) has taken the crypto world by storm with an unprecedented surge in substantial on-chain transactions. According to IntoTheBlock, a prominent blockchain analytics platform, SHIB has seen a jaw-dropping increase in transactions valued at $100,000 or more. In the span of just 24 hours, these high-value deals involving SHIB have skyrocketed by a staggering $91 million, marking an astonishing surge of 600%. This surge has led to an exchange of an eye-popping 8.71 trillion SHIB tokens, driving the total daily transactions to an extraordinary 10.44 trillion. Shibarium anticipated to be the trigger for the rise The driving force behind this meteoric rise in on-chain transactions is believed to be the imminent launch of Shibarium, a proprietary Layer-2 solution developed by the Shiba Inu project. While an exact date remains undisclosed, expectations are high for the launch, which is anticipated to take place sometime in mid-August. The excitement surrounding this event has reverberated across the SHIB community, sparking discussions and speculations. The SHIB Army, as the community is affectionately known, has been eagerly preparing for the potential impact of the Shibarium launch. In recent times, the surge in substantial SHIB transactions has become a testament to the increasing interest and growing confidence among investors and community members in the future of the project. Many are hopeful that the upcoming Shibarium development could revolutionize the already popular cryptocurrency. Shiba Inu’s rise to prominence has been fueled by its playful Shiba-themed branding and its appeal to crypto enthusiasts seeking the next potential “moonshot” investment. As the project’s ecosystem continues to grow, more attention is being drawn to the transformative potential of Shibarium, which aims to be a game-changer for the SHIB token and its broader ecosystem. As the crypto community eagerly awaits the unveiling of Shibarium, all eyes are on SHIB’s on-chain dynamics, and the coin’s recent surge in substantial transactions has only added to the excitement and anticipation surrounding this enigmatic token. With mid-August approaching, the crypto world braces for the next chapter in the Shiba Inu saga, which could potentially reshape the landscape of the meme-based cryptocurrency market.

Compound (COMP), a leading player in the decentralized finance (DeFi) sector, has encountered a significant setback, witnessing a 20% decline in its price over the past week. The downward trend continued with a 3.06% decrease in the last 24 hours and an additional 0.79% shrinkage in the most recent hour, placing the current price at $55.62 per COMP. Moreover, COMP is now 93.90% below its all-time high of $911.20, a substantial drop from its previous peak. Related Reading: Crypto Analyst Points To Bitcoin Price History Repeating Itself – Are The Signs Bullish? Challenges Ahead For Compound Currently priced at $56.69, Compound (COMP) holds the 85th spot among all cryptocurrencies based on market capitalization. With 7,792,894 COMP tokens in circulation, the token’s total market capitalization amounts to $440,641,903. The current rankings and market performance indicate that COMP faces significant challenges amid recent market conditions. Recent price declines have resulted in COMP slipping down the rankings, indicating the need for cautious monitoring of market conditions. In the ever-changing landscape of cryptocurrencies, tokens must continuously adapt to market trends, technological developments, and regulatory changes to maintain and improve their positions. As investors and traders navigate this complex environment, they must exercise due diligence and stay informed about the factors affecting the performance and rankings of tokens like Compound. COMP Price Analysis And Prediction This persistent bearish movement is a cause for concern, and potential investors should exercise caution. The current market conditions suggest that COMP is in a downtrend, indicating that the token is experiencing a dip. Various factors, including market sentiment, external events, and regulatory developments can influence price declines of this magnitude. Examining the situation from a broader perspective, the Compound cryptocurrency’s price trajectory is anticipated to maintain a bearish outlook as long as it remains below the $71 threshold. At present, the trading value rests at $58.28. Should the price break below $51, it is likely to head towards the midpoint of the established trading range, situated at $40. A more substantial retracement would lead to a reevaluation of the lower range boundary, potentially bringing it down to $26. Related Reading: XRP Whales Trigger Price Decline With Large Selling However, there is a silver lining for those considering investing in Compound. Over the past 90 days, the token recorded a 44.33% price increase, adding $17.41 to its previous value of $39.28. This demonstrates that Compound has displayed positive performance in the past, indicating the potential for a rebound once market conditions stabilize. The cryptocurrency market is characterized by cycles of ups and downs and historical data suggests that tokens like COMP can recover and experience growth after periods of decline. (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

This weekend, Shiba Inu is experiencing an extended upward traction, with the dog-themed meme coin sharply rising since late Friday. Shiba Inu made a sharp rally after exiting a phase of consolidation on Friday afternoon. At the time of writing, the meme coin was trading at $0.0000097, up 9.2% in the last 24 hours, data from crypto market tracker Coingecko shows. The highlight of SHIB’s solid upward trajectory was in the seven-day timeframe, registering an impressive 15.1% rally. At last check, the coin’s 24-hour volume climbed 236% to $683 million. Its market cap also increased by 12.3% to $5.81 billion. Price Boost From Binance ‘Loans’ SHIB reached the milestone of $0.000095 for the first time since May of this year. After Binance disclosed that the meme currency was a recognized collateral asset for loans on the exchange, the price increased. Holders will be able to deposit SHIB as collateral to get “Flexible Loans” on Binance as a result of this development. Additionally, the action is thought to give the coin more credibility than its meme roots and cause a jump in its value, reviving investor interest. This development highlights the dynamic nature of the cryptocurrency market, where the intersection of social media trends, technological advancement, and institutional acceptance can drive meme coins like SHIB to achieve notable objectives and draw interest from both crypto supporters and the mainstream financial community. Ahead of the debut of Shiba Inu’s blockchain initiative Shibarium, enthusiasm toward cryptocurrencies has also strengthened in recent days. Shibarium is expected to offer an alternative to the Ethereum blockchain, according to developers. It is anticipated to be more rapid more energy-efficient, and reduce total supply through burns. Shiba Inu: Strong Social Engagement Shiba Inu just made a significant achievement, which social analytics platform LunarCrush highlighted. Shiba Inu has the highest total social and market activity when compared to the whole crypto market, according to a tweet from the social analytics site LunarCrush. This accomplishment stands out because of Shiba Inu’s improving market influence. In addition to dominating the market, it also stands out significantly in terms of its social engagement. In particular, SHIB has surpassed 4,481 other coins to claim the top rank on AltRank. The crypto has experienced a flurry of activity during the past 24 hours, logging a staggering 200,365,743 social interactions. (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 K9 of Mine

New York Attorney General Letitia James sued the founder back in January. James might pursue certain claims under the Martin Act, a strong state securities statute. A judge in Manhattan state court determined on Friday that New York Attorney General Letitia James may proceed with her civil fraud lawsuit against Alex Mashinsky, the founder and former CEO of the defunct crypto lender Celsius Network. James sued Mashinsky in January before the former CEO of insolvent crypto lender Celsius was indicted on federal charges. Justice Margaret Chan ruled that the allegations were adequate indicating Mashinsky committed fraud by falsely representing Celsius as a secure banking option while hiding its hazards, which amounted to hundreds of millions of dollars. Pursued by Several Authorities According to Chan, the “earned interest accounts” that Celsius provided its clients were securities under state law, and James might pursue certain claims under the Martin Act, a strong state securities statute. The judge stated in a 25-page decision: On the other hand, Mashinsky has denied wrongdoing in connection with criminal fraud accusations filed against him by the United States Department of Justice. The United States Federal Trade Commission, the United States CFTC, and the United States SEC have all filed separate but connected civil actions against him. During the COVID-19 epidemic, crypto lending platforms like Celsius saw significant expansion as digital asset values rose. The firms hoped to make a profit by promising depositors fast access to loans at high-interest rates while lending tokens to institutional investors. Highlighted Crypto News Today: Stablecoin Issuer Tether Introduces Software for Bitcoin Mining Gears

Improved efficiency in managing mining capacity is the major goal of the new software. The tool facilitates coordination between various parts of the BTC mining ecosystem. To enable the transmission of orders and signals to Bitcoin mining gears, Tether developers are releasing ground-breaking JavaScript libraries. Tether CTO Paolo Ardoino announced on Twitter that certain components of the mining software would be released as open source in the future. Improved efficiency in managing mining capacity is the major goal of the Tether BTC mining software. Moreover, Ardoino emphasized his position as a main contributor to Moria, an orchestration instrument for mining farms, and claimed that all current developments were created using Holepunch technology. Major Boost for Mining Sector Moreover, Ardoino also discussed Moria’s capabilities in an earlier piece. This mining tool facilitates coordination between various parts of the Bitcoin mining ecosystem, making it possible for them to communicate with one another in a way that is simplified, protected, attack-resistant, and cost-effective. Furthermore, the CTO elaborated that each miner would have its own public/private key. This would allow for the transmission of encrypted data through hyper cores and command reception via hyper swarms. This method improves maintainability and modularity over prior efforts, while also reducing firewall setup complexity, increasing resilience to failures, and facilitating simple replication between sites. Tether’s treasury reserve assets backing USDT tokens in circulation continue to expand, as seen by the company’s latest financial report for Q2 2023. According to information by accounting firm BDO, Tether Holdings’ excess reserves increased by $850 million, bringing the total to $3.3 billion, as reported in the company’s Q2 attestation report. The business previously stated plans to spend a monthly sum on purchasing BTC. And is now working with a Uruguayan firm to invest in renewable energy generation and BTC mining. Highlighted Crypto News Today: How is Cardano (ADA) Performing as of 2023?

Massive XRP whale wallets are at it again as recently, some of the largest holders of XRP have dumped over 100 million tokens, putting major selling pressure on the XRP price. On-chain data shows that since July 19, the overall supply in addresses holding between 100,000-1,000,000 coins has decreased from 6.85 billion to 6.75 billion. Whales Taking Profit After Pump The actions of whales or large holders of cryptocurrencies seem to always tell the nature of general market sentiment. When whales sell off chunks of their holding, it often triggers a cascade of smaller holders selling in response, driving the price down. While retail investors and smaller holders often get caught up in the excitement of price rises and buy-in at the top, whales are more likely to sell off after massive price jumps and buy back in after the pullback. Right now, XRP whales may be taking some profits after the recent pump in price following news of partial victory in the SEC case. The price of XRP rose over 70% in less than 24 hours to $0.85 on the back of the news but has since declined about 15% from the yearly high. Data shows that the price decline started two weeks ago, around the same time when XRP whales started selling off their holdings. What’s Next For XRP? The XRP ecosystem faced a similar selloff in June, as whales dumped around 120 million XRP after Ripple unlocked its escrow to add another 1 billion tokens into circulation. Sell-offs are likely to trigger more selloffs. So In the short term, we’re likely to see some price volatility and fluctuations as the market absorbs the impact of such a large amount of tokens entering circulation. The price of XRP, on the other hand, is doing well compared to the overall market. It was reported earlier last month that whales have been amassing more than $500 million in XRP since February in anticipation of positive developments within the ecosystem. Ripple, the company behind the altcoin, says it is now eyeing the tokenized assets market as it hopes to unlock trillions of dollars of value in the global financial system. However, Ripple’s partial victory in court seems to be standing on one foot, as analysts expect an appeal from the SEC. If this happens, it could negatively impact the price of XRP, leading to a downtrend. In such a case, the altcoin’s gains from last month could quickly be wiped out. XRP is currently trading at $0.6253 and has risen by 31.52% in the last 30 days.

A new report has shown investors who held Bitcoin actually outperformed most cryptocurrency funds in the first half of 2023. This is because, between January and June, Bitcoin gained over 80% in value. Crypto funds, on the other hand, on the other hand, returned only about 15.2% profits on average. While still a positive return, it lagged far behind what regular Bitcoin investors made by just buying and sitting tight. 21e6 Capital’s Crypto Fund Performance in H1 2023 According to a recently released report from Switzerland-based investment adviser 21e6 Capital AG, Bitcoin traders outperformed most crypto funds by 68.8% in H1. This is not surprising, as BTC was one of the best-performing crypto assets in the first half of 2023, seeing massive gains from prospects of the SEC approving a Spot Bitcoin ETF. The price of Bitcoin started the year around $15,500 and climbed to over $31,400 in July. Bitcoin outperforming crypto funds is relatively new, as crypto hedge funds are frequently able to outperform the BTC benchmark in the past significantly. But the crypto industry ended 2022 with more of a gloomy sentiment, as the market witnessed regulatory uncertainties and the collapse of FTX and Terra. This seems to have caused crypto hedge funds to take a safer approach, leaving them with larger-than-normal cash positions. When crypto is hot, that cash doesn’t appreciate like BTC would unless the funds’ assets perform significantly better than Bitcoin. The report also noted that directional crypto funds generally outperformed non-directional crypto funds. Non-directional funds, like arbitrage, lending, and staking, do not depend on the market’s direction. Outlook for Second Half of 2023: More Gains Ahead for Bitcoin? 21e6 Capital’s latest report shows the general sentiment of the crypto market. Crypto funds had a rough first half of 2023, with many closing down early this year. About 13% of crypto hedge funds shut this year, as a few of them have struggled to present a favorable value proposition to potential investors. The price of Bitcoin seems to be struggling to break over $30,000, but the outlook for Bitcoin in the second half of 2023 still looks positive. If approved, the price of Bitcoin is expected to spike further in the coming months as major investment companies start to offer Spot Bitcoin ETFs. This influx of capital could spark a fresh bull market for all cryptocurrencies, leading to further gains for BTC holders. This new volume could see the price of BTC rise above $30,000 once more. At the time of writing, BTC is trading at $29,043.

Crypto whales are being driven away as evidenced by the 30% volume drop. The price of Bitcoin is $29,054 at the time of writing as per data from CMC. Investors in Bitcoin (BTC) are in a bind as the value of the leading cryptocurrency continues to consolidate. Crypto whales are being driven away as evidenced by the 30% volume drop. The price of Bitcoin is $29,054 at the time of writing as per data from CMC. Source: CoinMarketCap Earlier on Aug 2, the price made an unsuccessful attempt to breach the $30k level. Post the failed attempt, bears kicked in, driving the price all the way to the $29k mark. Major Swing in Either Direction Bitcoin’s price chart, which shows the cryptocurrency’s steady trading around the $29,000 level, is indicative of a confined trading pattern, which is characterized by a lack of major volatility. Bitcoin’s attempt to break through $29,300 resistance was quickly rejected, reaffirming the cryptocurrency’s recent range-bound nature. The price might witness a further drop if it breaks the recent support level of $28,750 and can rally to the $30k level if it manages to trade above the $29,400 mark. Surprisingly, Bitcoin’s volatility has dropped to levels similar to gold’s, a historically stable asset class. Also, the dynamics of the market are made more interesting by the unexpected confluence of the highly volatile cryptocurrency and the conventional store of value. It’s important to remember that periods of quiet in the market’s turbulence like these often come before major swings in either direction. According to Bitcoin firm NYDIG, the impending BTC halving event looks bleak in light of the recent Litecoin halving. Bitcoin and Litecoin have both maintained their halving cycle duration, although the subsequent price rallies have become less dramatic. According to the consensus of Bitcoin experts, the asset’s low-to-high and high-to-low returns throughout the halving cycle create a negative projection.