Author: Sollcrypto
Recently, Dogecoin (DOGE) has been defying established market resistance levels. Despite encountering a significant obstacle at the 5 billion coin mark, a resistance point expected to present a considerable challenge, DOGE has not only surpassed this hurdle but is also displaying resilience against profit-taking pressures. This resilience suggests the potential for a reversal in its price trajectory. The “in/out of the money” indicator, utilized to assess the profitability of DOGE-holding addresses, indicates that a significant portion of coin holders are currently “in the money.” With 72.88% of DOGE addresses in profit, this signals a robust foundation of holders who may…
After hovering near $45,000, Bitcoin underwent a significant downturn, with a more than 8% decline. However, bullish activity is evident above the $40,000 mark. Several bearish indicators have emerged since reaching the high of $44,699. The current price is below both $43,500 and the 100-hourly Simple Moving Average. Additionally, a crucial bullish trend line with support around $43,500 was breached on the BTC/USD hourly chart (data feed from Kraken). Looking ahead, there is potential for robust buying interest to emerge in the $40,000 zone. Bitcoin experiences a significant drop in its price. After breaking the $40,000 resistance, Bitcoin maintained a…
Ethereum is displaying indications of a potential emergence into a new era of growth, even as the market increasingly favors Layer-1 (L1) solutions like Solana. Although Ethereum’s price movement hasn’t exhibited the anticipated explosiveness, there remains the possibility for the cryptocurrency to reveal its potential. The trajectory of Ethereum’s price has demonstrated resilience, and recent trends suggest that the momentum driving its surge is far from reaching a conclusion. Despite trailing some of its L1 counterparts, Ethereum maintains a distinctive position in the market due to its extensive developer community, widespread adoption, and its crucial role in decentralized finance (DeFi)…
Cryptocurrency on-chain activity is on the rise, driven by an increase in transaction fees. According to data from IntoTheBlock on December 8, Bitcoin transaction fees have surged by more than 60%, and Ethereum’s “gas” fees have seen a nearly 50% climb in the past week. Transaction fees for both Bitcoin and Ethereum have experienced double-digit increases. This surge in activity can be attributed to various factors, with growing user interest and the ongoing bullish trend in the crypto market being the primary drivers. To illustrate, as of the current writing, Bitcoin and Ethereum prices are reaching 2023 highs, surpassing $43,500…
The liquid staking protocol leader in Ethereum (ETH), Lido Finance (LDO), experienced a nearly 7% growth in its total locked value (TVL) over the past week. This uptick could be attributed to the rising prices of ETH and Polygon (MATIC), along with a surge in stake deposits within the protocol. During the period from November 27 to December 4, the values of ETH and MATIC witnessed increases of 7% and 6%, respectively. DeFiLlama releases updates. As per DefiLlama’s data at the time of this report, Lido’s Total Locked Value (TVL) stands at approximately $21.32 billion, reflecting a notable 25% surge…
The latest surge in Bitcoin’s value has highlighted various factors, with one notable aspect being the emergence of a bullish Bitcoin fractal that hasn’t been observed in two years. Crypto analyst FieryTrading recently emphasized this pattern in an analysis of the primary cryptocurrency, suggesting it could be indicative of a prolonged rally. Bitcoin Bullish Fractal Resurfaces The crypto analyst highlighted a previously identified channel in Bitcoin’s price, suggesting a potential continuation of a bullish trend. This channel typically forms after a significant price surge, and considering BTC’s recent increase of approximately $15,000 in a month, it represents a substantial movement.…
Solana (SOL), the blockchain of the fourth generation, has made a noteworthy resurgence, as indicated by on-chain metrics. According to data from Artemis, Step Data Insights on X highlighted that Solana’s daily active wallets have surpassed those of Ethereum, the pioneering smart contract platform. This achievement comes amid SOL prices surging beyond resistance levels over the past few months. Solana Continues its Revival, Surpassing Ethereum in Daily Active Wallets As per Step Data Insights, Solana’s daily active wallets stand at approximately 400,000, slightly surpassing Ethereum’s. This surge in activity indicates that Solana is drawing an expanding user base, with an…
In the ever-changing realm of cryptocurrencies, Bitcoin has achieved a significant milestone by surpassing $44,000, reflecting an impressive 160% surge this year. This notable uptrend can be attributed to two key factors: increasing optimism surrounding the expected approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States and anticipations of an imminent interest rate reduction by the US Federal Reserve. These factors have substantially strengthened the value of BTC, underscoring the cryptocurrency’s responsiveness to both market speculation and macroeconomic policies. Contributing to this upward momentum is the announcement that MicroStrategy, spearheaded by billionaire Michael Saylor, has garnered more than…
Dogecoin (DOGE), the primary meme cryptocurrency fueling the decentralized Dogecoin blockchain, surged to heights above $0.095 on Tuesday. This upward momentum follows the news that Elon Musk’s X.AI company is planning to raise $1 billion through an equity offering, according to a filing with the SEC. X.AI represents Musk’s recently introduced artificial intelligence startup, revealed earlier this year when he rebranded Twitter as X Corp. Musk, who acquired Twitter in 2022, aims to transform the social media platform into an all-encompassing “everything app.” Simultaneously, he established X.AI with the purpose of comprehending the universe. Given Musk’s substantial influence and continuous…
The recent uptick in the valuations of Bitcoin and Ethereum has resulted in a substantial uplift across various NFT markets. Particularly noteworthy is the surge in value and interest within collections on Ethereum and Solana. For instance, the Ethereum-based collection Pudgy Penguins has witnessed a notable 77% rise in its USD floor price within the past week, accompanied by a significant 397% increase in trading volume. This surge underscores a robust recovery and a burgeoning investor confidence in NFTs associated with these blockchain networks. Noteworthy Surges in Prominent NFT Collections Additional Ethereum NFT collections are capitalizing on the resurgence trend.…