Filecoin (FIL) made a positive start in July. The cryptocurrency has been experiencing a substantial price increase over the past 24 hours. According to CoinGecko data, FIL has increased in value by 16.47% in the past day, propelling its price to $4.73. FIL is the native token of the decentralized Filecoin network, an open-source cloud storage protocol designed for easy data storage and retrieval. Filecoin In June – Price Action The FIL price started the month trading at $4.693. The token’s value dipped after touching the $5 price level, losing as much as 34% before June 10. However, the FIL price has steadily risen since this sharp decline, gaining more than 52% in the past few weeks. It is worth noting that Filecoin moved sideways towards the end of June, with the token’s price hovering around $4. That said, FIL appears to have resumed its bullish course, having soared more than 20% since the beginning of July. Most of this price increase is due to today’s spike, which has pushed Filecoin to reclaim its price level seen in early June. As of this writing, Filecoin (FIL) changes hands at $4.73, according to data from CoinGecko. The cryptocurrency has a 24-hour trading volume of over $530 million, representing a 434% surge in the past day. The recent price upswing of Filecoin (FIL) has also positively impacted its market capitalization, with a market cap of more than $2 billion USD. What’s Next For FIL? It remains to be seen how long this current price rally will last, especially as the daily Relative Strength Index (RSI) nears the overbought zone. The RSI is a momentum indicator that tracks a token’s oversold and overbought levels. When the RSI enters the oversold region, it signals that the token’s price is losing momentum, and a reversal might be on the horizon. Additionally, Filecoin is at the key resistance level of $4.8 on the daily timeframe. If FIL breaks this threshold, the token is expected to continue its bullish run, leading to further price appreciation. On the flip side, if FIL fails to break the $4.8 resistance level, we could see the coin fall to the $2.941 support level. Meanwhile, the 200 EMA (Exponential Moving Average) also acts as a dynamic resistance for the Filecoin price, posing a barrier to upward movement, as seen on the chart below. Hence, the bullish run may not continue until the price of FIL moves above the 200 EMA.

Ethereum price is rising pace above $1,940 against the US Dollar. ETH could continue to gain pace if it clears the $2,000 resistance zone. Ethereum is moving higher toward the $2,000 zone. The price is trading above $1,920 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support near $1,945 on the hourly chart of ETH/USD (data feed via Kraken). The pair could surge 5%-8% if there is a close above the $2,000 resistance in the near term. Ethereum Price Climbs Higher Ethereum’s price formed a base above the $1,850 support zone. ETH started a fresh increase above the $1,880 level and moved further into a positive zone, outperforming Bitcoin. There was a clear move above the $1,950 resistance zone. The price even traded to a new multi-day high at $1,975 and is currently consolidating gains. There was a minor decline below the $1,965 level. The price tested the 23.6% Fib retracement level of the recent increase from the $1,889 swing low to the $1,974 high. Ether is now trading above $1,920 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support near $1,945 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com Immediate resistance is near the $1,975 level. The next major resistance is near the $2,000 level. A close above the $2,000 zone could start a fresh surge. The next resistance sits near $2,050, above which the price could accelerate higher toward the $2,120 level. Any more gains could send Ether toward the $2,200 resistance. Are Dips Supported in ETH? If Ethereum fails to clear the $1,975 resistance or $2,000, it could start a downside correction. Initial support on the downside is near the $1,950 level and the trend line zone. The next major support is near the $1,930 level. It is close to the 50% Fib retracement level of the recent increase from the $1,889 swing low to the $1,974 high and the 100-hourly Simple Moving Average. If there is a move below $1,930, the price could drop toward $1,900. Any more losses may perhaps send the price toward the $1,880 support. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,930 Major Resistance Level – $2,000

Bitcoin halving maintains the scarcity and value of BTC over time. Spot Bitcoin ETF approval could substantially boost the cryptocurrency’s demand. Regarding Bitcoin, the next key event is just around the corner: the ‘halving.’ Bitcoin halving refers to the decrease in rewards for Bitcoin miners, occurring every 210,000 blocks mined or approximately every four years. This event is critical in maintaining the cryptocurrency’s scarcity and value over time. However, a new player in the game could also be a significant catalyst for Bitcoin: the potential approval of a spot Bitcoin Exchange Traded Fund (ETF). A Brief Dive into Bitcoin Halving In 2009, when Bitcoin’s blockchain started, miners received 50 bitcoins as a reward for each block they mined. After the first Bitcoin halving in November 2012, it dropped to 25, and so on. As of May 11, 2020, miners receive 6.25 bitcoins for each block, signifying the third halving event. This halving mechanism ensures that Bitcoin’s supply will reach its limit of 21 million by around 2140. Significantly, this finite supply safeguards against inflation, a unique characteristic that sets Bitcoin apart from traditional currencies. The Emergence of Bitcoin Spot ETFs Besides the halving, the increasing number of applications for Bitcoin spot ETFs is another substantial factor that could influence Bitcoin’s market dynamics. Ark Invest, Wisdom Trade, Invesco, Bitwise, Valkyrie, and others have already filed for spot Bitcoin ETFs. The potential approval of these applications, particularly from BlackRock, the world’s largest asset manager, could be a game-changer. Moreover, the approval of a spot Bitcoin ETF would open doors for a broad range of investors. It will lower the barriers to entry, facilitating institutional and retail participation in the Bitcoin market. Consequently, this could boost demand for Bitcoin and potentially result in significant price appreciation. As the projected halving is due between March and April, it’s fascinating to note that the final date for the SEC to approve BlackRock’s application is at the end of February. Hence, the overlap of these two events could profoundly impact Bitcoin’s value and market dynamics. Nevertheless, the SEC has not approved a spot Bitcoin ETF, denying all 33 previous applications. Despite this, the optimism remains high, especially with BlackRock’s strong track record of ETF approval. Navigating the Crypto Landscape With these critical events on the horizon, it’s a crucial time for investors and stakeholders in the Bitcoin space. Whether it’s the halving or the potential approval of a Bitcoin spot ETF, both events could be significant catalysts for Bitcoin’s next growth cycle. Despite its potential, the Bitcoin landscape is laden with unpredictability and unexpected turns. It is crucial for investors to stay updated, make plans rooted in present and forecasted market tendencies, and never forget the inherent risks tied to cryptocurrency investments. Highlighted Crypto News Today: TRON’s Phenomenal 5-Year Run: Over 2 Million Active Addresses Fuel the Success

It was only a matter of time that AI (artificial intelligence) and blockchain technology combined. ChatGPT has become common in crypto, used for everything from gathering data to predicting prices. For the latter, the bot has suggested Compound (COMP), Chainlink (LINK), and VC Spectra (SPCT) as favorites. Compound (COMP) and Chainlink (LINK) are well-known projects. Meanwhile, VC Spectra (SPCT), while a newcomer, is showing spectacular potential as the second stage of its presale nears. >>BUY SPECTRA TOKENS NOW<< Compound (COMP) Enjoys A Parabolic Rise Compound (COMP) is breaking multiple resistance levels, resulting in an impressive 2.5x gain over the past fortnight. Compound (COMP) can thank several factors for this movement. The popular Twitter page, Lookonchain, reported that a ‘whale‘ bought roughly $2.26 million worth of COMP. This adoption correlates with Glassnode’s discovery of more wallet addresses on Compound (COMP), rising from 83 to 220 within six days. Analysts also believe Compound (COMP) is benefitting from macroeconomics. Since the Fed rate pause, many have likely gone to yield-bearing protocols like Compound (COMP) to seek better returns. Finally, the other development is the ‘Superstate’ Ethereum-based government bond pending approval from the SEC. All in all, Compound’s (COMP) price action is recovering at a faster rate than its counterparts, as it looks set to exceed $60. Chainlink (LINK) Partners with SWIFT For A Traditional Finance-Blockchain Fusion While experiencing fewer developments, Chainlink (LINK) is performing relatively well on the charts. Since mid-June, the price has jumped nearly 30% from $5 to $6.37. The notable news for Chainlink (LINK) is the partnership with SWIFT, the well-known interbank messaging system. This is a strategic and familiar collaboration where traditional finance meets blockchain technology. Besides this, Chainlink’s (LINK) on-chain activity, social engagement, fundamentals, and adoption are solid. Thus, Chainlink remains supreme as the leading decentralized oracle network. VC Spectra (SPCT) Edges Close to The Second Stage of Its Fast-Selling Presale VC Spectra (SPCT) is a progressive decentralized asset management and trading platform for the finest tech and blockchain-based start-ups. The project is capitalizing on growing multi-billion industries with impressive compound annual growth. Its goal is to make investing in these sectors simple, transparent, trustless, and, of course, lucrative. VC Spectra (SPCT) has no third parties, meaning investors can begin trading without KYC and control their assets. The platform will use smart contracts to manage investments, distribute rewards, store funds, and more. Its utility token VC Spectra (SPCT), offers valuable advantages for investors, namely rewards, voting rights, quarterly dividends, and exclusive access to pre-ICOs. SPCT is also a token designed with scarcity and price appreciation in mind, as there is a limited circulation of 1 billion. VC Spectra (SPCT) stage 1 presale is a developing success. Investors have committed millions to SPCT, with only 40% of tokens remaining. With stage 2, the price will move from $0.008 to $0.011, a 37.5% increase. But the prospects get more exciting. Analysts have predicted that VC Spectra (SPCT) could reach $0.08 after all presale stages. This would be a 900% surge from its initial value. Learn more about the VC Spectra presale here: Buy Presale: https://invest.vcspectra.io/login Website: https://vcspectra.io Telegram: https://t.me/VCSpectra Twitter: https://twitter.com/spectravcfund Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

The price of Avalanche (AVAX) has shown positive momentum, but it remains range-bound. In the past 24 hours, the altcoin saw a 1.8% increase. However, on the weekly chart, it has retraced all its gains due to the lack of significant movement within the range. AVAX is struggling to surpass the $14 level, which has historically acted as a significant resistance. If AVAX manages to break above this resistance level, a rally is possible. However, the price movement of AVAX is closely tied to Bitcoin’s performance, as other altcoins have exhibited similar patterns. If Bitcoin drops to the $31,000 range, AVAX might find surpassing the $14 mark challenging. From a technical perspective, the outlook for AVAX favors the bulls, but the momentum is not particularly strong. Demand and accumulation indicators suggest that buying strength is slowly increasing. The market capitalization of AVAX has seen growth, which is a positive sign. However, if Bitcoin starts retracing on its chart, AVAX could turn bearish. Avalanche Price Analysis: One-Day Chart As of the time of writing, AVAX was trading at $13.30. The altcoin recently formed a lower high at this level, indicating a resistance point. The immediate resistance level for AVAX is slightly higher at $13.90. The price needs to break above this resistance to initiate a rally and surpass the $14 mark. However, before reaching $13.90, AVAX might encounter another resistance level of around $13.40. The coin must sustain trading above these levels for a considerable period to gain significant upward momentum. On the downside, support is seen at $13. If the price falls below this support level, it may decline to $12.80, invalidating the bullish scenario. Technical Analysis Following the bounce from the $13 support level, AVAX has seen an increase in buying interest. The Relative Strength Index (RSI) is slightly above the 50-mark, suggesting that sellers have temporarily retreated and buyers are gaining control. Additionally, AVAX has moved above the 20-Simple Moving Average (SMA) line, indicating a return of demand and that buyers are currently driving the price momentum in the market. AVAX has shown continued buying strength, with buy signals forming on the daily chart. The Moving Average Convergence Divergence (MACD), which measures price momentum and shifts, has displayed green histograms associated with bullish signals. This suggests a positive momentum and potential upward movement in the price. The Bollinger Bands, which measure price volatility and fluctuations, have opened up and moved upwards, indicating that the price may attempt to rise on the upside.

Despite Revolut, a platform that provides numerous services, including banking and crypto trading, planning to delist Cardano (ADA), Solana (SOL), and Polygon (MATIC) from its trading platform in the United States by September 18, the three coins have started July firmly, bottoming up from June 2023 lows. As an illustration, SOL is up roughly 50% from June 2023 lows when it had sunk to as low as $13. Meanwhile, ADA has soared 17% while MATIC is up 25% in the past two weeks, reading from the performance in the daily chart. Cardano, Solana, Polygon Prices Firm While their prices are relatively firm but in a bearish formation considering the sharp losses in June 2023, the three coins are still some of the most liquid in crypto. ADA, for instance, is perched at seventh, trailing XRP. The coin has a market capitalization of $10.2 billion and is in the top 10. SOL is also at 10th in the market capitalization leaderboard with a market capitalization of $7.6 billion. On the other hand, MATIC is steady, in an uptrend, adding 6.3% in the last trading week. Polygon had a market capitalization of $6.5 billion when writing on July 3. The cryptocurrencies that Revolut intends to delist have high liquidity and can be traded on major global exchanges such as Binance and KuCoin, even at their current valuations. In an email, Revolut said clients in the United States would be barred from trading the three tokens and have to sell their assets by September 18. Specifically, Revolut cited shifting laws around cryptocurrencies in the United States. The email read in part: SEC Alleges ADA, SOL, And MATIC Are Unregistered Securities While the United States Securities and Exchange Commission (SEC) cited SOL, ADA, MATIC, and other coins, including Algorand (ALGO), as examples of unregistered securities, forcing several providers in the country to remove them from their platforms. Revolut also appears to be following in the steps of Baktt, a digital asset platform founded by Intercontinental Exchange (ICE). Days after the SEC’s comments, the platform said they would stop supporting the three coins mid-June. While using Coinbase and Binance, the SEC alleged that several coins, including ADA, were unregistered securities, forcing sharp price contracts in the first half of June. In the United States, crypto assets classified as securities are subject to tighter regulatory requirements.

TRON’s 5th anniversary showcases global crypto dominance with 2M daily active addresses. A milestone week: STRX integration and 6B+ transactions highlight network growth. TRON’s relentless pursuit of excellence propels it as a market leader in the crypto world. In a stunning display of digital prowess, TRON outshines its competition with an impressive 2 million daily active addresses, driving a renewed wave of global interest in its potential. TRON continues to dominate the market, the rising star of the crypto world, affirming its leadership and commitment to its global user base. TRON’s Half-Decade of Independence June 25, 2023, marked the fifth anniversary of TRON’s independence day. The day saw its founder, Justin Sun, emphasize its commitment to enhancing its global footprint. Significantly, Sun’s commitment wasn’t just words. TRON’s plans aim to accelerate its compliance initiatives and globalization efforts. Hence, the anniversary was not merely a day for reflection but a symbol of TRON’s continuous evolution in the crypto world. The commemoration also highlighted the importance of user engagement in its growth. As many community-based campaigns were launched across social media platforms. A Milestone Week for TRON Moreover, the week saw an exciting addition to TRON’s growing ecosystem. From June 25, STRX became available on JustLend DAO. Consequently, users can now deposit and borrow STRX through this platform, a development that adds another dimension of functionality for it users. As of June 27, the TRON network’s total number of transactions exceeded 6 billion, a remarkable achievement. This milestone signifies It’s commitment to driving user engagement and expanding its reach and impact within the crypto ecosystem. Additionally, it is worth noting that these impressive milestones underline TRON’s relentless pursuit of excellence. They indicate the network’s growing importance and potential for future development. In conclusion, TRON has celebrated its 5th anniversary in style. It marks significant milestones and cementing its position as a market leader. It may anticipate future growth with 2 million daily active addresses and its commitment to globalization and compliance initiatives. Hence, the week beginning on June 25 commemorates past accomplishments and a harbinger of even more remarkable triumphs on the horizon. For all individuals within the TRON community, this period is filled with hope and excitement as they actively engage with this constantly developing platform.

Over the last month, a coordinated attack against altcoins by the US SEC caused Bitcoin dominance to surpass 50%. Above the psychological level makes BTC more valuable as a whole than the entire crypto market. However, a technical signal has appeared that in the past put in a peak in BTC.D and suddenly sparked a reversal in altcoins. Here is a closer look at the signal and why a surprise alt season could be right around the corner. Bitcoin Dominance Beats All Other Crypto Combined Bitcoin dominance is a metric that measures the top cryptocurrency’s market cap against the weight of everything else in the space. It is often used as a barometer of health in altcoins, specifically when it’s better to be in BTC, or in alts like Ethereum, Litecoin, or Solana. When BTC.D is falling and the market is healthy, altcoins outperform Bitcoin in terms of alpha. But as high beta assets, alts are significantly more volatile. As a result, when the market is crashing, they suffer much more drawdown by comparison and BTC’s market share becomes increasingly dominant. This is precisely the case all throughout 2023. Altcoins have taken a beating, but Bitcoin has held its ground. This divergence across the different types of cryptocurrencies has caused the total market cap of BTC to surpass all other coins combined. 50% dominance is clearly an important level. However, it’s a reading on the Relative Strength Index that’s particularly notable. The BTC.D Signal Hinting At A Surprise Altcoin Season The Relative Strength Index is a momentum measuring tool, which tells traders when an asset is overbought or oversold. In crypto, assets can stay overbought or oversold for extended periods of time. But in BTC.D, on weekly timeframes, historically it hasn’t spent much time at overbought conditions. In fact, it has only reached overbought a handful of times. This latest push into overbought territory has reached a reading that in the past put the peak in for Bitcoin dominance and immediately turned around into an epic altcoin season. This setup last appeared in late 2019 when BTC.D was at 70%. With such overbought conditions, combined with an Elliott Wave count indicative of a five-wave move coming to an end, an altcoin season might not be as far away as most are expecting. Although altcoins outperform in an alt season, hence the name, they require a bullish Bitcoin to bait retail to the market. With BTC beginning to show bullish signs once again, how long until altcoins follow and ultimately outperform? This chart originally appeared in Issue #10 of CoinChartist (VIP). Get 10% off a year subscription with this link: https://coinchartist.substack.com/NEWSBTC

Bone ShibaSwap has experienced a massive increase of more than 10%. Shytoshi Kusama’s hints have sparked excitement in the Shiba Inu community. Bone ShibaSwap (BONE), the governance token of the ShibaSwap DEX, has experienced a massive increase of more than 10% in the last 24 hours. This sudden rise in value has sparked curiosity and speculation within the crypto community. The BONE token has caught the attention of investors and traders with a remarkable surge. On June 3, the gas token for Shib’s Layer 2 blockchain, BONE, started showing impressive performance. The trading price of BONE has edged closer to crossing the $2 landmark. The price surge comes after the lead developer of Shiba Inu, Shytoshi Kusama, dropped exciting hints about the upcoming launch of the Shibarium mainnet. And also the initiation of the Shibarium Layer-2 blockchain implementation process in Canada. Shytoshi Kusama’s Hint on Shibarium Mainnet Launch The Shiba Inu (SHIB) community is eagerly waiting for the most anticipated Shibarium mainnet launch’s update. Recently, in the Shibarium Tech telegram channel, Shytoshi Kusama stated that he is too busy launching the blockchain process. On Telegram, the SHIB community sent him a message requesting that he tweet that Shib 2.0 is a scam. However, Shytoshi Kusama responded that he doesn’t have time to tweet about each new SHIB-related scam that surfaces. As a result, he gave a hint that the Shibarium mainnet launch may be coming soon. Earlier, he mentioned that everything was set for launch. These recent hints have sparked excitement in the Shiba Inu community. The excitement in the ecosystem suggests that the BONE is expected to experience significant growth in the coming days. BONE plays an important role in the Shiba Inu ecosystem as a governance token and the authorized gas token for Shibarium. Shibarium’s Impact on Bone ShibaSwap According to Lucie, the Shiba Inu community can start taking Bone ShibaSwap, a governance token, as well as Shibarium’s gas token, into consideration as its trading price aims for $2-$3. Lucie’s statement has sparked some Serious discussions regarding the chances for BONE within the Shiba Inu ecosystem. The upcoming launch of the Shibarium mainnet is expected to mark a significant milestone for the Shiba Inu ecosystem. After Kusama announced that he was set to launch the Shibarium motion in Canada, the anticipation for the launch went high among the Shiba Inu community. The launch of Shibarium is expected to enhance the scalability and functionality of the ecosystem. Moreover, it opens new opportunities for both developers and investors. At the same time, Puppynet, the Shibarium testnet, has crossed the milestone of 25 million transactions. According to Puppyscan, there are 273,811 daily transactions in the Shibarium testnet. It takes the total transactions to reach 26,662,039. Moreover, the average block time in the Puppynet was 6.4 seconds. The Shibarium network activity increase suggests strong demand and a long-term surge in SHIB and BONE prices. At the time of writing, the trading price of the Bone ShibaSwap is around $1.09, with an increase of over 13.61% in the last 24 hours. The trading volume of BONE has experienced a surge of 16.35%, according to CoinMarketCap. Highlighted Crypto News Today: SHIB2.0 Joins the Latest Memecoin Trend: Exploring the Impact

Last week, the likes of Ethereum in the crypto market were shaken when the United States Securities and Exchange Commission (SEC0 revealed that it found the Bitcoin Spot ETF filings of giants such as BlackRock and Fidelity, among others, inadequate. This news saw the price of cryptocurrencies declines rapidly. But as the new week opens, investors have shaken off the effect of the announcement and bulls have begun to take over. Ethereum Sets Sight On $2,000 Level Ethereum’s recovery following the SEC announcement has been encouraging for investors, leading to a return of positive sentiment around the digital asset. Following this, ETH is now looking toward the $2,000 level despite the bears currently mounting significant resistance at this point. The digital asset has already reclaimed the $1,950 resistance which is now serving as support. As a result, this could provide the much-needed bounce-off point as the cryptocurrency attempts another rally. Such a rally from here could easily see ETH re-take $2,000 once more. Fortunately, Ethereum continues to trade well above its 50-day and 100-day moving averages, both of which have helped the digital asset to solidify its bull momentum for the short term. As long as buyers continue to dominate the market, the break above $2,000 is programmed and will likely be achieved before the week runs out. Factors That Could Propel ETH Forward One thing that could serve as a catalyst for a rally toward $2,500 for Ethereum would be approval from the United States Securities and Exchange Commission (SEC). The Spot ETF filings that have been made by the likes of BlackRock and Fidelity have already propelled the market forward. But this is only a fraction of what is possible if one or more of the ETFs are approved. Such approval will likely see billions of dollars from institutional investors flow into the market as they rush to take advantage and gain exposure to assets such as Bitcoin. And as seen before, it would not be long until an Ethereum Spot ETF follows. If this happens, then it could not only trigger a rally toward $2,500 for Ethereum. But it could be just the catalyst that the market needs to enter another bull season. Furthermore, an approval coinciding with the Bitcoin halving next year would see prices rise rapidly. For now, ETH is still maintaining its position, trading at a price of $1,967. This accounts for a 2.68% increase in the last day and a 3.88% increase in the last week.

Polygon’s upgrade to ZK Validium improves scalability and privacy. Polygon’s POS significantly boosts Ethereum’s transaction speed and efficiency. Polygon’s technology is instrumental in mitigating Ethereum’s congestion and high fees. Ethereum is consistently making headlines. However, an often-overlooked component substantially contributes to the sidechain network, Polygon. As per reports, Polygon’s Proof of Stake (POS) mechanism is advancing rapidly, with imminent plans to upgrade to a Zero-Knowledge Validium. Significantly, the Total Transactions per Second (TPS) of the Ethereum ecosystem has reached an impressive 67, a significant contribution of which comes from Polygon’s efficient technology. Polygon Aims Higher Polygon’s relentless pursuit of excellence is noticeable. The Indian-based multi-chain scaling solution is not resting on its laurels. Besides working seamlessly with the Ethereum blockchain, Polygon’s POS system has shown substantial effectiveness in improving the blockchain’s speed and efficiency. According to Sandeep’s tweet, soon, it’s eyeing an upgrade to a Zero-Knowledge (ZK) Validium – a cutting-edge solution for scalability and privacy concerns. Consequently, this upgrade signifies a new era for Ethereum and Polygon alike. By integrating the ZK Validium, Polygon will improve the performance of the Ethereum ecosystem even further. More importantly, it will tackle one of blockchain’s most significant challenges – privacy. The Role of Polygon in Ethereum’s Success Sandeep Nailwal, one of Polygon’s co-founders, took to Twitter to shed light on the company’s accomplishments. Consequently, Polygon’s contributions within the Ethereum ecosystem are vast. With a total aggregate TPS within the ecosystem of around 67, Polygon’s POS has been instrumental in driving these numbers. By providing efficient layer two solutions, Polygon is helping Ethereum users bypass the notorious congestion and high fees. Additionally, implementing POS further enhances the network’s security, offering a double benefit to the users. Moreover, Polygon’s ZK Validium upgrade will mark a meaningful step toward optimizing blockchain technology. As the Ethereum ecosystem continues to grow and diversify, Polygon’s role remains critical. By improving scalability and privacy, it sets the stage for future innovations. In conclusion, Ethereum’s current progress is undeniable. Yet, the driving force behind this cannot be overlooked. Polygon’s POS and the upcoming ZK Validium upgrade are contributions and transformative shifts within the ecosystem. Hence, it’s clear: Ethereum’s success story isn’t complete without acknowledging the tireless efforts of Polygon. Highlighted Crypto News Today: SHIB2.0 Joins the Latest Memecoin Trend: Exploring the Impact

The crypto market has been on a rollercoaster this year, with prices fluctuating wildly and regulatory pressures causing significant drops. However, recent developments have given investors renewed confidence in the market, leading to a total crypto market cap recovery. On June 15th, the total crypto market cap hit a low point of $972 billion, following the Securities and Exchange Commission’s (SEC) regulatory pressure on the industry. But since then, the market has rebounded. This recovery has been driven partly by the entrance of major financial players into the crypto space. Several applications for a Bitcoin Spot Exchange-Traded Fund (ETF) by major financial players such as Blackrock and Fidelity have been filed, indicating that they are interested in betting on cryptocurrencies. This has helped to rebuild investor confidence in the market, leading to increased investments and a rise in the total crypto market cap. Crypto Market Cap’s Moment Of Truth Cryptocurrency investors are closely monitoring the total crypto market cap as it attempts to break through a significant resistance level. According to crypto analyst Rekt Capital, if the market can successfully breach this level, it could pave the way for continued upward momentum and potentially significant gains for the overall market. At the time of writing, the total crypto market cap is around $1.17 trillion, with Bitcoin making up the lion’s share of this value. However, the market has been trading in a relatively tight range over the past few weeks, with many investors looking for a catalyst to drive prices higher. Rekt Capital believes that a breakout above the current resistance level could be just the catalyst that the market needs to see a sustained uptrend. Rekt Capital suggests that the market could see gains of between 10% and 23% over time if this breakout occurs. As depicted in the chart, the immediate resistance levels for the global market cap of the cryptocurrency industry are currently at $1.18 and $1.25. The latter represents the highest level achieved in 2023. However, certain conditions must be met for the market to break through these levels. Firstly, there needs to be an improvement in current market conditions, including a relaxation of crypto regulations by regulators globally, particularly in the US. Additionally, there needs to be a resolution of the ongoing Bitcoin Spot ETF applications by major financial players with the SEC. If these conditions are met, it could lead to an influx of financial players and investors into cryptocurrency. Many investors are looking to cryptocurrencies as a hedge against inflation, and greater regulatory clarity and the approval of a Bitcoin ETF could make the industry more attractive to traditional investors. Cryptocurrency Trading Volume Drops To 2020 Levels Crypto trading volumes have reached their lowest levels since 2020, despite the ongoing rally in June. According to a report by crypto market data provider Kaiko, spot trade volumes have significantly declined in Q2, with Binance registering the strongest drop in trading activity. Binance, one of the world’s largest crypto exchanges, saw volumes fall by nearly 70% after the exchange reintroduced fees for its most liquid Bitcoin pairs. This move, aimed at reducing market manipulation, appears to have significantly impacted trading activity on the platform. However, Binance was not the only exchange to see a significant decline in trading volumes. Other popular exchanges, including Coinbase, Kraken, OKX, and Huobi, also saw volumes decline by over 50% in Q2. The decline in trading volumes is surprising, given the recent rally in the crypto market. Bitcoin, the largest cryptocurrency by market cap, has been bullish in June, reaching a high of over $31,000. Despite this, trading volumes have remained subdued, suggesting that investors are not as active in the market as they have been. Featured image from Unsplash, chart from TradingView.com

Bitunix Enables Visa and Mastercard Payments for Crypto Investing. Users can now seamlessly and securely buy cryptocurrencies. Bitunix, a prominent cryptocurrency derivatives exchange, has unveiled its latest feature that allows users to conveniently purchase cryptocurrencies using Visa and Mastercard credit cards directly on its platform. This integration aims to streamline the process of acquiring digital assets, making it more accessible to a wider audience. Bitunix Expands Payment Options With the integration of Visa and Mastercard credit cards into Bitunix Exchange, users can now seamlessly and securely buy cryptocurrencies without the need for additional intermediaries. By enabling direct credit card transactions, Bitunix aims to enhance the onboarding experience for both existing and new users. Moreover, it eliminates complexity and simplifies the path to cryptocurrency ownership. Arron Lee, the co-founder of Bitunix, stated that; The newly introduced feature supports multiple currencies, including USD, THB, IDR, VND, EUR, JPY, GBP, HKD, TWD, CAD, PHP, BRL, and MXN. Moreover, it ensures broad accessibility for users across various regions. Further, the integration of Visa and Mastercard credit card payments is now live on the Bitunix platform. Users can easily navigate to the “Buy Crypto” section, where they can select the credit card payment option to initiate their cryptocurrency purchases conveniently and securely. Moreover, this development marks a significant step towards making cryptocurrency acquisition more accessible. And also, user-friendly for individuals interested in entering the digital asset market.

Bitcoin Cash (BCH) has recently dominated the headlines with massive gains in the current overall crypto market rally. Its price recently surged over 200% this month after being listed on EDX Markets, a new exchange backed by major institutions. Trading also spiked on Upbit, a major Korean exchange. This led to a significant increase in the total hash rate and mining difficulty as miners migrated to the blockchain to chase profits. Bitcoin Cash Hash Rate Reaches Highest In Two Years According to data from CoinWarz, the BCH hash rate jumped to over 5.45 EH/s in the closing hours of June, reaching its highest point in over two years. The increased hash power means the BCH network has become increasingly secure as miners move to the blockchain. Mining difficulty also followed suit, jumping to 494.8 G in less than a day. While frequent difficulty adjustments can impact mining profits in the short run, the heightened interest in mining Bitcoin Cash is a good sign for the network. The rally in Bitcoin Cash’s price and mining metrics has put pressure on those short-selling BCH futures contracts. The total amount of money lost on BCH-tracked futures shorts and longs combined was over $25 million, which is the largest in over two years. All of this comes ahead of the Bitcoin Cash Halving, an event that is expected to happen in May 2024, cutting block rewards in half. The rapid rise in mining difficulty and hash rate could be linked to this. However, given that it is almost a year away, it is more likely that the altcoin’s recovery and price movements over the last week are the culprit. BCH Price Action The future price outlook for Bitcoin Cash remains highly uncertain, given that the current rally came as a surprise to many investors. The next several weeks will be extremely important in determining whether or not this rally has sufficient energy to drive Bitcoin Cash to new highs in 2023 or whether or not it fizzles out. Currently, BCH seems overbought from various indicators like the Relative Strength Index. Overbought means an extended price move to the upside. Price action seems to have become calm, as the cryptocurrency is now facing rejection around $300. The 50-day and 200-day MAs seem to suggest that the price increases may continue. However, if the current momentum stalls and BCH faces a strong rejection, the BCH price could erase most of its recent gains. BCH is now trading at $288 and is down 1.31% in the past 24 hours. BCH’s price rise saw its market cap jump to over 5.58 billion, making it the 14th-largest cryptocurrency in the space.

Excitement is building within the Shiba Inu community as the highly anticipated launch of Shibarium, the layer-2 scaling solution, draws near. Shytoshi Kusama, the pseudonymous project lead developer, recently addressed the upcoming launch, emphasizing the importance of sticking to the planned strategy and timeline. Kusama’s confident statements have further fueled anticipation among enthusiasts. Shibarium Is On The Verge Of Release When asked about potential changes to the launch date or plan of Shibarium, Kusama responded resolutely, stating, “It doesn’t matter; everything is already set. I can’t change the date or plan. It’s called a launch strategy.” This unwavering commitment to the established timeline demonstrates the Sharium developers team’s dedication to ensuring a successful launch for Shibarium. In another intriguing conversation within a Telegram group chat, someone identified as Mark suggested that Shibarium would launch at ETHToronto which takes place from August 15-16, 2023, in Toronto Canada. Surprisingly, the Shiba Inu lead developer playfully agreed, stating, “Mark his words.” This playful interaction has fueled speculation that Mark is actually right with his speculation. It is noteworthy that Kusama recently dropped another hint in which he said that it is no longer a question of “when” but “where”. The SHIB lead developer released a video showing the Shiba Inu logo and a major (North American) city. The message of the video was, “Something is coming. We are actually going somewhere.” Apparently the developers of Shiba Inu are planning a big event, and as the rumors have it, for the Shibarium launch. While the exact launch date remains undisclosed, another Shiba Inu enthusiast brought up a previous statement from Kusama in which he hinted at a two to four-month timeframe for the launch after the beta testing start. Notably, July 11 marks the four-month milestone since the beta release. And there’s even more recent hint from Kusama. In another Telegram message, he said: “I’m to busy starting the launch process of a blockchain. And seriously … when the pilot is in the cockpit switching switches and the seat belt light is on. And the attendant is talking about safety and stuff DONT ASK THE PILOT WEN.” So everything suggests that the Shibarium may be within reach. When and where remains a secret for the time being. How High Can The Shiba Inu Price Rise? The news of a launch date will undoubtedly create new hype around Shiba Inu. What impact Shibarium will have on the SHIB price in the long term is difficult to predict, as this will depend on the adoption and success of the layer-2 solution and projects that build on it. In the short term, however, a look at the 1-day chart of SHIB helps to assess possible price scenarios. The SHIB price remains in a downtrend on the 1-day chart, but is relentlessly approaching the upper resistance of the descending parallel trend channel at around $0.00000790. Crossing this price level would be a first important step to initiate a long-term upward movement. However, as early as the $0.00000834 price level (23.6% Fibonacci retracement level), SHIB needs to confirm this trend. In any case, the introduction of Shibarium has the potential to trigger this move. A green candle towards the 200-day EMA would then be conceivable. The 200-day EMA is currently approaching the 38.6% Fibonacci retracement level at $0.00000979. This area around $0.00001 is where the strongest resistance is expected. Still, the Shibarium hype has the potential to herald a further rise towards the 61.8% Fibonacci level at $0.000012. Thus, at the current price, SHIB holds the potential to rise by more than 57% (before probably taking a breather). The area around $0.000012 has been very important as resistance and later support this year.

On-chain data shows that Bitcoin sharks and whales have continued to accumulate recently, something that could help the rally go parabolic this month. Bitcoin Sharks & Whales Have Continued To Add To Their Holdings According to data from the on-chain analytics firm Santiment, BTC sharks and whales have participated in further buying during the past two weeks. The relevant indicator here is the “Supply Distribution,” which tells us about the total amount of Bitcoin that each address group is holding in the market right now. The addresses are divided into these address groups based on the total number of coins they are carrying in their balances right now. The 1-10 coins group, for instance, includes all investors holding between 1 and 10 BTC currently. In the context of the current discussion, the cohorts of interest are the “sharks” and “whales.” These are investors who generally hold sizeable sums in their wallets, and their combined coin range may be defined as 10-10,000 coins. Due to the high amounts that these holders may carry in their wallets, they can have some influence on the market. Naturally, as the whales are the larger of the two groups, they carry significantly more power in the sector. As the movements of these holders can cause noticeable effects on the market, it can be worth keeping an eye on their behaviors. The Supply Distribution of this coin range can provide hints related to exactly that. Now, here is a chart that shows how the supply of these investors has changed during the last few months: As displayed in the above graph, the Bitcoin Supply Distribution for the 10-10,000 coins group had seen some decline earlier in the year but had bottomed out in the middle of April. Around the same time as the whales finishing up their selling, the asset’s price had hit a local top and had observed a drop over the next couple of months. While this decline had taken place, though, these sharks and whales had started growing their holdings once again, suggesting that they had been buying the dips. Later on, when the cryptocurrency had failed to show any signs of a resurgence, the supply of these investors had hit a standstill, implying that these investors had become hesitant to buy more. Following the bottom in June, however, and the subsequent emergence of news related to new ETF launches, these sharks and whales began to show some strong accumulation. In the past seven weeks, these investors have loaded up 154,500 BTC, a good chunk of which has come during the past couple of weeks alone. The indicator’s value has now reached 13 million BTC, implying that the Bitcoin sharks and whales now hold 67% of the total circulating supply. These humongous investors continuing to show strong overall accumulation through this new leg of the rally can be a positive sign for things to come this month. BTC Price At the time of writing, Bitcoin is trading around $30,600, up 1% in the last week.

Litecoin (LTC) has been on a remarkable run in the past three days, emerging as one of the most impressive performers among cryptocurrencies this week. But what’s causing this sudden surge in its price? The answer lies in the anticipation of a major event that’s just around the corner: the impending halving of Litecoin, set to take place on August 2. Similar to Bitcoin, Litecoin undergoes halvings after a specific number of blocks are mined, roughly every four years. As the halving approaches, investors and enthusiasts are left wondering: will Litecoin’s price continue to soar, or is there more to this story than meets the eye? Litecoin Price Rally And Resistance Breakthrough LTC has demonstrated a strong performance in recent days, currently trading at $112.35 according to CoinGecko. Over the past 24 hours, LTC experienced a notable rally of 5.1%, and within a seven-day timeframe, it surged by an astonishing 29.0%. Over the weekend, LTC managed to surpass the crucial $100 mark, and since then, it has sustained trading above this key level of resistance. This resilience indicates bullish tendencies and raises the possibility of a significant breakthrough, with the potential for the $100 resistance to transform into support. Such a development could pave the way for a sustained bull run, potentially propelling the token to reach $130 in the near future. Social Activity Volume And Halving Event Hype The surge in LTC’s price has coincided with heightened social activity volume, as observed by the blockchain analytics firm Santiment. This suggests a correlation between price spikes and increased interest and engagement surrounding the crypto. The anticipation of Litecoin’s upcoming halving event has generated a surge in demand for the asset, driving its price upward. Litecoin’s halving events have historically been associated with significant price movements. In the months leading up to previous halvings, Litecoin experienced notable price surges. These halvings have been pivotal moments for the crypto asset, often triggering a period of increased market activity and bullish sentiment. The underlying principle behind the price surge observed before halving events is the anticipation of reduced supply coupled with sustained or growing demand. As the number of new coins entering the market decreases, if demand remains steady or increases, the scarcity of Litecoin can drive up its price. This scarcity narrative has been a driving force behind the previous bull runs experienced by Litecoin, and the upcoming halving event is expected to generate similar dynamics. (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 Master The Crypto

Bitcoin has risen by almost 80% in the first six months of 2023. However, as has been the case in the past, the cryptocurrency has experienced periods of stagnation before making any significant moves. This has resulted in a consolidation phase that has left investors waiting in anticipation for the next direction. And if attempts to breach upper resistance lines fail, it could jeopardize most of the gains made in the last few months of 2023. Will Bitcoin Plummet To The Depths? Crypto analyst under the pseudonym “Captain Faibik” on Twitter, has recently made some bold predictions about Bitcoin’s future. Despite the current bullish sentiment in the market and the possibility of reaching a new yearly high for 2023, Captain Faibik warns that bulls are not “out of the woods yet.” Faibik believes that Bitcoin may retest the $20,000 region in the upcoming months of August and September. However, Faibik also believes that the Bitcoin bull run will officially start in November 2023. On the other hand, the recent confirmation of a 2-week buy signal, a successful retest from the breakout, and the Moving Average Convergence/Divergence (MACD) crossing above the “0” level for Bitcoin have caught the attention of traders and investors alike. These indicators have only occurred in 2015, 2019, and 2020, leading many to believe that a significant price movement is imminent. Trader “Moustache” highlights that while history doesn’t repeat itself exactly, it often rhymes. This means that while past events can provide insights into potential market movements, there are no guarantees in the volatile cryptocurrency market. However, the fact that these same technical indicators have been observed in the past and have been followed by significant price movements is a cause for excitement among Bitcoin investors. The 2-week buy signal is a particularly significant indicator, suggesting that Bitcoin is oversold and undervalued, making it an attractive investment opportunity. The successful retest from the breakout is also a positive sign as it indicates that the breakout was not a false signal, and the new price level has been validated. The MACD crossing above the “0” level is another bullish indicator as it suggests that the momentum is shifting in favor of the bulls. This is important as it indicates that the buying pressure is increasing, which could lead to a significant price movement shortly. BTC Set To Soar? Economist and trader MikyBull has been closely analyzing the pre-halving price action of Bitcoin for 2024. According to MikyBull, the current accumulation phase is wider than previous halvings, indicating that the post-halving rally may take longer to materialize. However, the wider accumulation phase could also result in a more significant price increase. Furthermore, Bitcoin’s price has already tapped into the bi-yearly resistance, which is a crucial price level that has historically led to breakouts. This indicates that a price breakout is imminent, and MikyBull anticipates a rally before the halving event with a price target between $35,000 and $40,000. At the time of writing, Bitcoin is trading at $30,600, representing a modest gain of 0.4% over the past 24 hours. It is unclear whether the cryptocurrency will continue to hold this level or if a significant pullback will occur. Nonetheless, the current market sentiment favors bullish investors, and Bitcoin appears to be well-positioned for another attempt to break through the $31,000 line. If successful, this could pave the way for the cryptocurrency to achieve further milestones throughout the remainder of 2023. Featured image from Unsplash, chart from TradingView.com

On-chain data shows a Litecoin indicator is currently showing a pattern that has historically been bearish for the cryptocurrency’s price. Litecoin 30-Day MVRV Ratio Has Registered A Surge Recently As pointed out by an analyst on Twitter, the 30-day MVRV ratio has spiked towards the 35% mark recently. The “Market Value to Realized Value (MVRV) ratio” here refers to an indicator that measures the ratio between the Litecoin market cap and its realized cap. The “realized cap” here is a capitalization model that aims to find a sort of true value for the asset. According to this model, the true value of any coin in circulation is not the current spot price, but the price at which it was last moved/transferred on the blockchain. As the MVRV compares the market cap (that is, the spot price) with the realized cap (the “real” value of the asset), it can tell us whether the current price is overinflated or not. When the value of the MVRV is greater than 1, it means that the market cap is larger than the realized cap currently. Naturally, such a trend can imply the asset may be overpriced right now. On the other hand, values of the indicator below this threshold suggest the cryptocurrency could be undervalued at the moment as its realized cap is higher than the market cap. Now, here is a chart that shows the trend in the 30-day Litecoin MVRV ratio over the last few years: Here, the MVRV ratio is displayed in terms of the percentage difference between the market cap and the realized cap (meaning that the 0% line plays the role of the 1 mark in this version of the indicator). As shown in the above graph, the 30-day Litecoin MVRV ratio has registered some rapid growth recently. This jump in the indicator has come as the latest rally in the cryptocurrency has occurred, which has now taken the price above the $110 level. The metric has now hit a value of 35%, which implies that the market cap is currently 35% more than the realized cap. Historically, the indicator’s value rising above the 30% level has been a sign that the asset is becoming notably overpriced. From the chart, it’s visible that the cryptocurrency’s price has generally always registered a correction whenever this pattern in the 30-day MVRV ratio has formed. The degree of this price drop has varied, but on average it has been around 30% to 40%. It now remains to be seen if this historical pattern would continue to hold true this time as well. Naturally, if it does hold, then Litecoin would register a significant drop in the coming days. LTC Price At the time of writing, Litecoin is trading around $109, up 23% in the last week.

Twitter’s initial endeavor to implement a fee for verifying accounts with blue check marks resulted in a reportedly marked decrease in bots. Nevertheless, the persistent nuisance of fake Twitter accounts remains far from abating. Twitter launched Twitter Blue, a subscription service priced at $8 per month. It was launched with the dual purpose of boosting the platform’s revenue and making it financially unfeasible for bots and fake accounts to operate effectively. Despite these efforts, reports indicate that a significant proportion of followers from the most popular crypto accounts are still deceitful. In a recent investigation DappGambl, a crypto platform, conducted an analysis on the same. They suspected that there is a correlation between the popularity of crypto tokens and the presence of fake followers in Twitter accounts. Related Reading: Litecoin $100 Milestone Indicates Promising Bullish Trends – Here’s Why DappGambl examined the social sentiment associated with crypto accounts and it was discovered that as many as 10% of followers from the most followed crypto accounts were fake. Fake Twitter Crypto Followers: Facts And Figures When examining the official accounts of cryptocurrency tokens and ecosystems, it was found that Shiba Inu had the highest proportion of fake followers. These fake followers amounted to 10.26% or approximately 80,000 accounts. Avalanche (AVAX) came in second place with 8.14% fake followers, and Polygon (MATIC) ranked third with 7.58% or around 73,000 fake accounts. In addition, dappGambl’s findings revealed that DAI is widely considered the most beloved and popular coin among Twitter users. On the other hand, XRP is often associated with scams. Other notable figures also face the presence of fake followers on their Twitter accounts. Twitter co-founder Jack Dorsey reportedly has around 560,000 fake followers, accounting for 8.62% of his total follower count. El Salvador President Nayib Bukele and Ethereum co-founder Vitalik Buterin apparently both have nearly 6.5% of their followers identified as fake. Musk’s Anti-Fraud Measures Fail To Tackle Fake Accounts Among prominent figures in the crypto industry, Elon Musk, the CEO of Tesla, has around 4.76% fake followers on Twitter. Following closely is Michael Saylor, the co-founder of MicroStrategy, with approximately 6.16% fake followers. Changpeng ‘CZ’ Zhao, the CEO of Binance, also has a significant presence of fake followers, accounting for around 5.58% of his total followers. These statistics underline the prevalence of fake followers among well-known individuals in the crypto space. Despite Elon Musk’s efforts to combat fake accounts, he is followed by over 6.7 million fake accounts, highlighting the persistence of the problem. Various methods, such as examining account details and analyzing followers, can be used to identify fake accounts. Recently, the popular Twitter bot “Explain This Bob” was suspended after Musk called it a scam, emphasizing the ongoing challenges in tackling fake accounts on the platform.