Author: Sollcrypto
Litecoin (LTC) has experienced a significant surge in active wallet addresses, attributed to the increasing fascination with this Bitcoin fork. Despite a disappointing Litecoin halving earlier this year, LTC prices have remained stagnant. The cryptocurrency Litecoin (LTC) continues to captivate the interest of ambitious crypto investors, driven by expanding adoption, ongoing network development, and the allure of potential profits amidst declining prices. This combination positions LTC as an attractive asset with a favorable risk-to-reward ratio. Recent data reveals that active LTC wallet addresses have reached an unprecedented level. According to information from IntoTheBlock, as of December 8, Litecoin’s network activity…
The price of Ethereum is reclaiming ground lost from the $2,120 support level. ETH has risen by more than 3%, and there is potential for further gains if it successfully surpasses the $2,250 resistance. Key Points: Ethereum’s Price Initiates a Renewed Uptrend The Ethereum price experienced a decline below the $2,150 level but demonstrated resilience above $2,120. After establishing a low around $2,116, Ethereum initiated a fresh upward movement, following a similar pattern to Bitcoin. The ascent involved surpassing resistance levels at $2,150 and $2,200. Ethereum’s price exceeded the 50% Fibonacci retracement level of the downward trajectory from the $2,332…
Data indicates that Bitcoin is relinquishing a significant on-chain support area in its recent decline. Here’s the upcoming range where the next support zone for the asset is situated. Bitcoin Dips Below Support Range, Falling to $41,200 – $42,400 Level As outlined by analyst Ali in a post on X, Bitcoin (BTC) has slipped below a crucial on-chain support zone today. An “on-chain support” range refers to a price below the current market value of the cryptocurrency, representing the cost basis for many investors. For investors, the cost basis, or the price at which they acquired their coins, holds significance…
Shiba Inu (SHIB) has undergone a dramatic market reversal, capturing the attention of both investors and traders. Despite its recent upward momentum, the token has recently experienced a sharp decline in value, marked by what traders commonly refer to as a “death candle.” This term describes a significant, abrupt red candle on the price chart, typically indicating a pronounced shift from a bullish to a bearish market sentiment. The unexpected turnaround reflects a broader change in sentiment among SHIB holders, especially notable among large investors, often referred to as “whales,” who possess substantial amounts of the token. These influential players…
Disclaimer: Cryptocurrency carries a high level of risk. This article is presented for informational purposes only and should not be considered as investment advice. By accessing this website, you agree to abide by our terms and conditions. Affiliate links may be incorporated into our content, resulting in potential commission earnings. Tether’s USDT, the leading stablecoin in terms of market capitalization, has strayed from its intended $1 valuation amidst heightened scrutiny following the company’s announcement on December 15 regarding a policy to freeze wallets in collaboration with law enforcement agencies, including the DOJ, FBI, and Secret Service. According to data from…
Once again, Bitcoin struggled to gain momentum above the $43,500 resistance threshold, leading to a new descent. The cryptocurrency is currently on a downward trajectory and may soon revisit the support levels at $40,000. Bitcoin’s value is diminishing beneath the $42,000 support region.It is trading below $42,000 and the 100-hourly Simple Moving Average.On the hourly chart of the BTC/USD pair (data feed from Kraken), a significant bearish trend line is taking shape, with resistance around $41,800.Potential robust buying support could emerge around the $40,600 and $40,000 levels. Bitcoin’s value drops beneath the $42,000 mark. Bitcoin made an effort to extend…
Recently, the Ethereum market has flirted with the enticing $2,500 threshold. However, this uptick coincides with a challenging environment for its decentralized finance (DeFi) sector, which is grappling with difficulties and shows no immediate signs of recovery. The underperformance of Ethereum’s DeFi sector can be attributed to various factors, including the surge in transaction fees that has made the layer-1 platform less accessible for average users. Transaction costs have reached levels widely deemed as unreasonable, significantly impacting usability. In response to these persistent challenges, Ethereum co-founder Vitalik Buterin has hinted at the potential integration of zero-knowledge Ethereum Virtual Machine (zkEVM)…
Bitcoin has demonstrated a robust market performance with a notable 144% surge in value in 2023. In contrast, gold has experienced a more modest 14% increase during the same period. This stark difference underscores Bitcoin’s prominence as an investment asset, highlighting a noteworthy trend in the cryptocurrency market for the year. Bitcoin (BTC) has taken the lead, showcasing its impressive value growth amid a landscape where traditional assets, such as gold, have not experienced comparable gains. Gold, often acknowledged as a secure haven asset, has recorded a modest uptick of 14% over the same timeframe. While the stability of gold…
As of December 2023, INJ, the native token of Injective Protocol, has emerged as one of the highest-performing cryptocurrencies, outperforming both Bitcoin (BTC) and Ethereum (ETH). Does on-chain data suggest that Injective Protocol is currently undervalued? Speaking on December 14, Hartvigsen pointed out the platform’s comparatively modest total value locked (TVL) at $11 million and the restricted number of protocols currently available, which stands at seven. As per the researcher’s examination, the primary decentralized application (dapp) on the layer-1, Helix Protocol, a decentralized exchange (DEX), currently registers a daily trading volume of approximately $7.4 million. Hartvigsen points out that this…
The competition for a Bitcoin ETF is intensifying, with a dozen issuers seeking approval for spot-based products. However, complications have emerged regarding the creation and redemption methods of fund shares, as regulators and issuers advocate for different approaches. On December 14, Bloomberg highlighted the additional challenges stemming from this ‘redemption contention,’ noting that intricate mechanics are currently at the forefront of discussions between issuers and US regulators as they finalize the details. Bitcoin ETF Operational Processes The SEC has openly expressed hesitancy in permitting broker-dealers to manage Bitcoin, making it improbable for the regulator to endorse a Bitcoin ETF using…