Author: Sollcrypto
Shiba Inu (SHIB) price has consolidated above the $0.000025 support level on April 26, after the team’s $12 million fundraise had triggered a $0.000029 retest at the start of the week. SHIB Price Jumps 41% in a Week’s Timeframe Shiba Inu’s price surged 53% between April 19 and April 22, hitting a weekly high of $0.000029. This rally came after the team announced a successful $12 million fundraising effort, giving the world’s largest memecoin project a boost. SHIB has since pulled back by 10%, reaching the support level around $0.000025, reducing its weekly gains to 41% as of April 26.…
Renzo, an Ethereum restaking protocol, faced a significant blow as its restaked ETH lost its 1:1 ratio with Ethereum. Meanwhile, the SEC delayed its verdict on spot Ethereum ETF applications from Franklin and Grayscale, but BlackRock modified its filing for a similar product. In Hong Kong, spot Ethereum ETFs are set to commence trading on April 30. Ethereum (ETH) saw a brief decline on Wednesday afternoon, even as whale accumulation continued to grow. The drop came after Renzo’s restaked ETH (ezETH) plummeted from its 1:1 peg with ETH and amid heightened activity around spot Ethereum ETFs. Daily Market Movers: Renzo’s…
Ethereum (ETH) recently found support at the 0.382 Fibonacci retracement level, near $2,867, sparking a bullish rebound. This leads to a critical question: Could this signal the end of the recent correction? ETH has experienced a notable correction over the past few weeks. However, the latest rebound from this key support area indicates a possible trend reversal, hinting that the correction might be nearing its conclusion. Ethereum’s Swift Bounce from 0.382 Fibonacci Support at $2,867 Additionally, the daily chart’s Exponential Moving Averages (EMAs) continue to display a golden crossover, suggesting a bullish trend in the short to medium term. The…
Lately, Solana (SOL) has gained significant attention in the cryptocurrency world due to ongoing network congestion, which cast doubt on its ability to compete with established platforms like Ethereum (ETH). Nevertheless, recent measures to tackle these issues appear to be effective. According to a SolanaFloor update from April 24, the congestion has been resolved, with transaction confirmations now taking less than two seconds. As of the time of publication, Solana was trading at $152.27, reflecting a daily decline of over 3%. However, on the weekly chart, Solana has seen a gain of 17%. Additional Fundamentals for Solana (SOL) Besides the…
According to Sözcü, Vedat Soner, an MHP member who took over the Gümüşhene municipal administration from the AKP following the March 31 local elections, requested an audit to investigate the municipality’s financial situation due to its mounting debts. This audit request highlighted an intriguing detail involving Bitcoin (BTC). The report suggests that during the tenure of former AKP mayor Ercan Çimen, funds collected from the public for a housing project in Gümüşhene were used to purchase Bitcoin instead of being used for their intended purpose. According to allegations, the AKP-run municipality under Çimen announced a luxury housing project, the Yaşam…
Following the approval of spot Bitcoin ETFs by the SEC in January, attention shifted to Ethereum ETFs, with many expecting similar approval in the early months of the year. However, recent developments suggest that this likelihood has decreased. Most analysts now believe that the SEC is unlikely to approve Ethereum ETFs in May. This view is supported by comments from ETF analyst Nate Geraci, who shared his thoughts on X (formerly Twitter). Geraci stated that the consensus in the market leans toward a delay in approving Ethereum ETFs and that he concurs with this outlook. Geraci, the president of ETF…
Following the fourth halving event in the cryptocurrency’s history, Bitcoin (BTC) maintained stability at around $63,700, impacting the economic dynamics for the miners who sustain the Bitcoin network. BTC remained relatively stagnant after the 840,000th Bitcoin block was mined as Saturday commenced in UTC time, barely deviating from its position just before the event. The cryptocurrency experienced a dip to $59,685 on Friday before recovering above $65,000. Historically, halving events have often preceded bullish movements in Bitcoin’s price. The previous halving in May 2020 saw Bitcoin surge from $9,500 to $65,000 over the subsequent year. However, this time around, Bitcoin…
According to Tara, a prominent crypto market analyst, Ethereum (ETH) may be poised for a rebound after hitting a previous target low at the $2,960 mark. Ethereum has been impacted by the current market correction, experiencing a 23% decline from its April 9 peak of $3,726 to a two-month low of $2,850 on April 13. Despite a modest recovery from this low point, ETH remains in bearish territory, displaying volatile price action as it struggles to reclaim the $3,000 level. In her analysis, Tara highlighted these price movements and suggested that the bearish pressure could persist, potentially leading to a…
Litecoin (LTC) is eyeing a rebound after enduring a bearish streak that confirmed a 30% drop. Yet, the extent of LTC’s potential recovery remains uncertain amid increasing investor involvement. Bullish Signs Emerge for Litecoin Litecoin’s price is poised for a potential bounce back, given the recent downturn it has faced. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are signaling positive prospects. The RSI, gauging the pace and magnitude of price shifts, is on the cusp of surpassing the neutral line at 50.0, indicating a bullish trend. Meanwhile, the MACD is displaying increasing bullish momentum, suggesting…
With the eagerly awaited Bitcoin halving approaching, the mining industry encounters a downturn, marked by plummeting stock prices, despite optimistic forecasts from top executives. Bitcoin miners confront turbulent market conditions. The upcoming Bitcoin halving, which will cut mining rewards from 900 to 450 daily tokens, has rattled the mining industry. Prominent companies like Marathon Digital Holdings Inc., Riot Blockchain Inc., and CleanSpark Inc. have seen their stock prices decline for three consecutive days. The Valkyrie Bitcoin Miners ETF has plummeted by approximately 28% this month. Furthermore, escalating geopolitical tensions, notably the conflict between Iran and Israel, have exacerbated the sector’s…