Author: Sollcrypto
The Shiba Inu team has sent out a mysterious tweet suggesting the potential for SHIB to surge higher during this bullish period despite the recent market downturn. SHIB has recorded a 14% increase within the last 24 hours, aiming to recover from its 20% decline over the past week. In the midst of this rebound, Shiba Inu’s official account shared a video clip portraying Shiba Inu as a replacement for the iconic bat symbol from the DC movie Batman. Accompanying the post was a caption expressing its aspiration to be a hero, even if not necessarily the one it deserves.…
The cryptocurrency market is recovering from the downturn it faced towards the end of last week, with most assets now showing positive movement. Certain altcoins are outperforming others, indicating a notable shift in ecosystem attention towards Solana over other layer-one networks at present. Bitcoin is currently testing the $68,000 mark. Bitcoin is regaining momentum after a downward trend toward the end of last week. Despite a 4.4% decline over the past seven days, BTC has shown strength in the last 24 hours, surging by approximately 2.8% and currently testing the crucial resistance level at $68,000. Meanwhile, market sentiment, as gauged…
Solana (SOL), a competitor to Ethereum (ETH), stands out amidst the broader downtrend in the cryptocurrency market following its integration with Binance’s Web3 Wallet. The fifth-ranked cryptocurrency by market capitalization has surged over 5% in the last 24 hours, in contrast to the overall market downturn of 3.8% during the same period, as reported by CoinGecko. Binance announces that its Web3 Wallet users now have the capability to trade SOL and access various decentralized applications (DApps) and upcoming airdrops. Despite this positive momentum, some crypto analysts express caution regarding Solana’s price trajectory. Ali Martinez recently informed his 52,700 followers on…
In a tumultuous twist, the cryptocurrency market faces upheaval with a sharp decline in Bitcoin prices. Following a sustained period of impressive gains and record-breaking highs, Bitcoin has plummeted to a weekly low of $65,000, delivering a substantial blow to investors. As of the latest update, Bitcoin’s figures are awash in red, trading at $65,710, registering a 5.6% decrease in the 24-hour timeframe and a 4.5% drop over the week, according to data from Coingecko. Just days after its recent low of $68,000, Bitcoin has descended further to its current level, a point unseen in a week, as downward pressure…
As expected, following the introduction of futures today, cryptocurrency exchange Binance wasted no time in listing the memecoin BOOK OF MEME (BOME) on its spot market. Although Bybit had listed BOME on the spot market a few hours prior, Binance had initially confined its listing to futures. However, given the surging popularity of the altcoin, Binance promptly added it to its spot market without delay. Remarkably, BOME, a memecoin based on Solana, emerged just two days ago and swiftly surpassed a market valuation of $1 billion, defying expectations for a Solana-based memecoin, which had been largely associated with Ethereum until…
Russia has officially endorsed a law allowing the utilization of digital financial assets (DFAs) for cross-border payments as a strategic move to evade sanctions backed by Western powers. President Vladimir Putin has signed the bill into law, permitting the use of digital currencies for international trade transactions, resolving months of legislative debate. However, the law specifies that only tokenized assets issued by the Bank of Russia are sanctioned for use in foreign trade payments. Despite granting approval for DFAs, the law expressly prohibits their domestic use within Russia, aimed at safeguarding the primacy of the ruble in local transactions while…
According to data from Coinglass, the total notional value of leveraged long Bitcoin derivatives traders still exceeds $40 billion, even after the recent wave of liquidations. Short positions predominantly hover above $71,000, amounting to approximately $12 billion in notional value. Currently, futures contracts hold a total open interest of $35 billion, while options contracts stand at $31 billion. The Coinglass Liquidation Heatmap illustrates a color band representing various price ranges at which a certain amount of notional value is at risk of liquidation. Progressing from purple to yellow, the colors signify increasing notional value and the corresponding higher positions subject…
Despite significant market liquidation, Solana and Jupiter have demonstrated impressive double-digit growth, securing their positions as Friday’s top gainers. With the crypto market experiencing a nearly 5% downturn since yesterday, Bitcoin’s drop to $65,000 marks its lowest point in over a week. Ethereum and Dogecoin have also seen declines of almost 10% following their week-long rallies. Nevertheless, despite this temporary setback, Jupiter and Solana have maintained their upward momentum, buoyed by heightened trading activity and optimistic market sentiment. Solana (SOL) surged by nearly 10% today, with Solana-based meme coins witnessing remarkable gains amidst the ongoing bull market. Notably, Dogwifhat (WIF)…
Ethereum (ETH) has successfully implemented a significant software upgrade known as Dencun, aimed at enhancing the cost-effectiveness of utilizing the network ecosystem. This update is tailored to Layer 2 (L2) networks like Arbitrum (ARB), Polygon (MATIC), and Coinbase’s Base, all interconnected with Ethereum. Dencun brings about notable reductions in transaction costs across these networks, with fees plummeting from dollars to cents or even fractions of a cent. The Ethereum Dencun upgrade introduces significant cost savings for users. Hailed as the most significant enhancement to Ethereum’s user experience, the Dencun upgrade is poised to catalyze the development of new applications and…
The beloved meme cryptocurrency in the market, Dogecoin, is sending signals that may hint at its future trajectory. Lately, the asset has exhibited a downward trend in volume, typically interpreted as a cautionary indication of a possible price downturn. Analyzing the present price chart, we observe DOGE’s local support level hovering around $0.1048, a zone where prices have previously found stability before bouncing back. Conversely, a distinct resistance level lies around $0.1439, which has been tested but not decisively breached in recent trading sessions. The diminishing volume trend aligns with a price stabilization following a notable surge. This pattern implies…