Author: Sollcrypto
In 2023, Bitcoin’s BRC-20 and Inscriptions experienced significant growth, with the latter accounting for 21% of all transaction fees. Messari observed a surge in BRC-20 and other new transaction types, causing an influx in fees within BTC’s mempool. Despite this, the Bitcoin price remains consolidated above $42,000, anticipating bullish signals expected to materialize by January 10, 2024. Bitcoin is entering a pivotal year in its history, with two major events poised to propel the digital asset. In anticipation of these developments, Messari, a crypto market intelligence data provider, has shared insights suggesting that Inscriptions could play a leading role in…
The price of Ethereum is undergoing a correction from the $2,440 zone, currently trading below the $2,400 level. Despite the correction, bullish activity may persist near the $2,300 and $2,240 support levels. As of now, the price is holding above $2,320 and the 100-hourly Simple Moving Average, indicating potential support. On the hourly chart of ETH/USD, a bullish flag is forming with resistance around $2,360. A successful close above the $2,400 level could initiate a new upward movement for the pair. The Ethereum price continues to find support. Ethereum’s price surged above the $2,320 resistance zone and surpassed the $2,400…
Ethereum’s price is surging, surpassing the $2,320 resistance zone with a gain of over 5%, indicating a potential outperformance compared to Bitcoin. Currently, Ethereum is gaining momentum and maintaining levels above the $2,300 support zone.The price is trading above $2,350 and the 100-hourly Simple Moving Average.On the hourly chart of ETH/USD (data feed via Kraken), a connecting bullish trend line is emerging, providing support around $2,380.The pair shows the possibility of extending its rally towards the $2,500 and $2,550 resistance levels. Ethereum initiates a new upward surge in its price. The Ethereum price experienced a decline below the $2,250 level,…
The widely used smart contract platform Cardano ($ADA) has retained its leading position in cryptocurrency development, surpassing the “blockchain of blockchains” Polkadot ($DOT) and its public pre-production environment Kusama ($KSM). This information is based on data provided by the on-chain analytics firm Santiment, which also highlights Avalanche ($AVAX) securing the fourth spot, outpacing other prominent digital assets. Noteworthy is the inclusion of Optimism ($OP) in the top 10 cryptocurrencies by development activity, as reported by the firm. The term “development activity” denotes the volume of work completed by developers of a cryptocurrency project within the past 30 days, specifically on…
Various prognostications have surfaced amidst the sustained substantial growth of Bitcoin’s price this year, driven by factors like the imminent halving event and the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). Particularly noteworthy is the ETC Group’s extensive report, unveiling insights into the prospect of achieving new all-time highs in 2024 and reaching a remarkable milestone of $100,000 by the conclusion of the year. The resurgence in Bitcoin prices lays the foundation for a hopeful outlook in 2024. As outlined in the recent report from the ETC Group, 2023 marked…
Despite worries about network congestion and elevated gas fees, Ethereum’s long-term bullish stance is emphasized by borovik.eth, a partner at Rollbit, who shared insights on X on December 26. The optimistic outlook is driven by key factors such as Ethereum’s robust developer ecosystem, its significance in the broader blockchain landscape, and the introduction of various Layer-2 solutions (L2s). Could Increased Layer-2 Activity Propel Ethereum to New Heights? Despite the surging performance of layer-1 coins like Solana (OSL) and Cardano (ADA) in 2023, Borovik.eth maintains a contrarian and positive outlook on ETH. The analyst believes that Ethereum’s scaling challenges are manageable,…
The Bitcoin price has further decreased, dipping below the $42,650 threshold, and is displaying bearish indicators, suggesting a potential extension of its decline towards the $40,000 support. Bitcoin appears to be adhering to a bearish trajectory beneath the $43,500 mark. The current price is below $43,000 and the 100-hourly Simple Moving Average. Additionally, an important bearish trend line is taking shape, indicating resistance around $43,200 on the hourly chart of the BTC/USD pair (data sourced from Kraken). This trend may lead the pair to continue its descent towards the $40,500 and $40,000 support levels. Bitcoin’s value experiences a deeper decline.…
Michael Bouhanna, Vice President and Head of Digital Art at Sotheby’s, has proclaimed a successful year for digital art at the renowned art brokerage, despite a year of varying reviews for non-fungible tokens (NFTs). “2023 at Sotheby’s will stand out as one of the most thrilling years for Digital Art,” he declared. Sotheby’s Achieves Highest-Ever Price for Digital Artwork. In a post on X (formerly Twitter), Bouhanna provided a comprehensive overview of Sotheby’s achievements in the digital art sphere for the year 2023. Notably, he underscored that the highest sale exceeded $6 million. Additionally, Bouhanna mentioned that the art broker…
As 2023 concludes, Polygon is celebrating a positive note with its native token, MATIC, witnessing a substantial surge in the last 24 hours, despite the founder acknowledging a challenging journey. MATIC is currently valued at $0.8939, with a 24-hour trading volume of $701,503,128.22. This reflects a noteworthy 4.20% price upswing in the last 24 hours and a remarkable 14.10% increase over the preceding 7 days. Polygon’s Founder Embraces the Role of the Underdog. Despite facing challenges throughout 2023, Polygon’s founder, Sandeep Nailwal, recently expressed satisfaction with the platform’s underdog status. In a statement on X (formerly Twitter), Nailwal highlighted several…
After a corrective phase that saw Bitcoin’s price testing the $42,650 level, BTC is making a renewed attempt at an upward movement, targeting a breach of the $43,750 resistance. Having found support above the $42,500 region, Bitcoin has initiated a new uptrend. However, it currently trades below both $43,550 and the 100 hourly Simple Moving Average. The hourly chart for the BTC/USD pair from Kraken reveals the formation of a bearish trend line with resistance around $43,600. To resume its upward trajectory, the pair needs to surpass key resistance levels at $43,750 and $44,300. Successfully clearing these levels could pave…