Author: Sollcrypto

Ethereum’s Bearish Trend Deepens Amid Market Turbulence Ethereum’s price has plunged over 15%, falling below the crucial $3,000 range and signaling a bearish trend. This decline was exacerbated when a major whale sold 26,600 ETH, worth over $82.5 million, to repay debt on Aave. This sale initially caused a sharp 3% drop in ETH’s value. However, the whale later re-entered the market at a lower price point, borrowing significant funds to take advantage of the dip. Amid the recent market turmoil, Ethereum has struggled to regain its footing after the significant drop below key support levels. The broader market downturn,…

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Cardano (ADA) Sees Significant Activity and Price Decline During the intraday trading session on July 4, Cardano’s (ADA) Age Consumed metric surged to a 35-day high, indicating that previously dormant tokens are now being actively traded. This activity suggests that long-term holders are starting to move their assets. Following this spike, the price of ADA experienced a decline, indicating that a local top had been reached. On July 4, a notable 1.32 billion ADA tokens, valued at approximately $433 million at current market prices, were transferred, as reflected by the increase in the Age Consumed metric. Understanding Cardano’s (ADA) Age…

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Solana Meme Coins Outperform Ethereum by 800% YTD, Q1 Reports Reveal According to Q1 reports, Solana-based meme coins have outperformed their Ethereum-based counterparts by an astonishing 800% year-to-date (YTD). Surge in Meme Coin Popularity The CoinMarketCap 2024 H1 report highlighted meme coins as the most popular asset class, capturing a 22% market share. Over the past eight months, the Solana (SOL) ecosystem has topped the charts, followed by Ethereum (ETH) and artificial intelligence (AI) tokens. Solana Leads the Meme Coin Rally In the midst of the meme coin rally, the Solana ecosystem holds a 9.64% market share. Solana-based meme coins…

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Ethereum price failed to climb above the $3,520 zone and corrected its gains, now showing bearish signs below the $3,400 support zone. Ethereum began a downward correction after failing to surpass the $3,520 zone.The price is trading below $3,400 and the 100-hour Simple Moving Average.A key bearish trend line is forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken).The pair now risks further downsides below the $3,350 support zone. Ethereum Price Dips Again Ethereum’s price couldn’t sustain above the $3,520 and $3,550 resistance levels, forming a top near $3,520 before starting a fresh decline…

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Ethereum is currently trading at $3,477, up 2.75% in the last 24 hours and 4.87% over the past week. The largest altcoin’s daily trading volume has surged by 51.96% in the past 24 hours. The crypto market is experiencing a slight recovery from its bearish momentum. Amid these market fluctuations, an Ethereum whale transferred 7,000 ETH, valued at $24.28 million, to the crypto exchange Kraken after 209 days of inactivity. This whale had participated in the Ethereum Initial Coin Offering (ICO) in 2015 and still holds 40,000 ETH, worth $139.5 million, even after the transfer. According to Arkham Intelligence data,…

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In a technical analysis, noted crypto analyst Big Mike (@Michael_EWpro) has shared a bullish forecast for Dogecoin (DOGE), suggesting that the meme coin could exceed the $1 mark in this bull cycle. This Dogecoin price prediction is based on the Elliott Wave theory and is supported by a robust set of technical indicators highlighting the coin’s strong upward potential. Dogecoin Could Exceed $1 By 2025 The weekly chart (DOGE/USDT) illustrates Dogecoin’s past market performance, where it completed a 5-wave Elliott Wave pattern during the previous major bull run, pushing the price to just above $0.70. Following this surge, the market…

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HashKey Global, a leading entity in the cryptocurrency space, has expanded its offerings to enhance user interaction across various blockchain networks. The latest development involves integrating Ethereum (ETH) and Tether (USDT) with the Arbitrum network, significantly improving transaction flexibility and efficiency for its users. Broadening Horizons with Cross-Chain Network Transactions In a strategic move to meet the evolving demands of the digital asset community, HashKey Global has successfully integrated Ethereum and Tether onto the Arbitrum network. This integration enables users to seamlessly conduct transactions across these major networks, marking a milestone in connectivity and functionality. Arbitrum, renowned for its optimized…

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The cryptocurrency markets are experiencing a downturn today amid relatively low trading volumes. Bitcoin is edging closer to $60K, while most altcoins are gradually losing value. As a result, the total market capitalization has decreased to $2.37 trillion. Bitcoin Price Slips Toward $60K Bitcoin’s price has decreased by 1.3% over the past 24 hours, accumulating total losses of about 6% for the week. As of now, the leading cryptocurrency is edging toward $60K amid relatively low trading volumes across the market. In the past 24 hours, there have been $100 million worth of liquidations, with BTC leading the way at…

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Spot Bitcoin ETFs Experience One Week of Outflows: What Happened Last Time? Spot Bitcoin ETFs have entered a troubling trend, recording outflows for an entire week straight. These outflows have coincided with the decline in Bitcoin’s price, suggesting that institutional sell-offs and miner sell-offs might be driving the trend. With seven consecutive days of outflows now completed, this report examines what happened the last time outflows were this high. Spot Bitcoin ETFs Lose Money for 7 Straight Days According to data from Coinglass, Spot Bitcoin ETFs have now marked their seventh consecutive day of outflows. These outflows have averaged around…

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Ethereum Price Faces Recovery Hurdles: Examining the Roadblocks Ahead Ethereum’s price began a recovery wave from the $3,230 zone, climbing above $3,350 but encountering strong resistance at $3,420. Detailed Analysis Ethereum’s price extended losses, trading below the $3,350 zone and testing the $3,240 support zone before starting a recovery wave, similar to Bitcoin. The price saw a decent increase above the $3,300 and $3,320 levels, with bulls pushing it above $3,350. It even spiked above the 61.8% Fibonacci retracement level of the downward move from the $3,518 swing high to the $3,230 low. However, strong resistance is evident near the…

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