Author: Sollcrypto

Ethereum’s price initiated a gradual ascent from the $1,520 region when paired with the US dollar. Presently, ETH faces challenges in surpassing the resistance barriers at $1,605 and $1,620. In an endeavor to recover, Ethereum is striving to breach the $1,570 threshold. The current trading position hovers slightly above $1,575, with the 100-hourly Simple Moving Average offering support. On the hourly ETH/USD chart (data sourced from Kraken), a significant bullish trend line is taking shape, with a support level situated around $1,572. The potential for further upward movement exists if a decisive breakthrough is achieved above the $1,620 resistance level.…

A significant downturn in the prices of nonfungible tokens (NFTs) shouldn’t be viewed as a sign of distress but rather as an indication that the technology is maturing, according to Web3 executives. Decentraland Foundation’s executive director, Yemel Jardi, expressed this perspective, stating, “I wouldn’t say the NFT market has regressed. Instead, it’s maturing.” Jardi’s remarks follow a September report from dappGambl, which analyzed more than 73,000 NFT collections and concluded that as much as 95% of the NFTs examined held no value, as prices, sales volume, and transactions had declined over the past year. Jardi emphasized that markets follow cyclic…

Bitcoin’s price initiated an upward correction starting from the $26,550 region. BTC is currently ascending and encountering formidable resistance at approximately the $27,300 and $27,500 levels. Bitcoin has successfully regained ground above the $27,000 resistance threshold.The price is trading above $27,000 and is above the 100-hourly Simple Moving Average.Furthermore, there was a breakthrough of a significant bearish trend line with resistance around $27,000, as illustrated on the BTC/USD pair’s hourly chart (data sourced from Kraken).The pair displays indications of a recovery, but it may encounter challenges in the vicinity of $27,300 and $27,500. Bitcoin Price Seeks to Embark on a…

Ethereum’s price has made a rebound from the $1,520 mark against the US dollar, but it is currently encountering obstacles around the $1,565 and $1,600 resistance thresholds. Ethereum is making an effort to initiate an upward movement beyond the $1,550 level.The price is currently hovering slightly above $1,550 and is positioned above the 100-hourly Simple Moving Average.Furthermore, a significant bearish trend line was breached, which had resistance around $1,555, as observed on the hourly chart of ETH/USD (data obtained from Kraken).However, unless there is a definitive breakthrough above $1,565 and $1,600, the pair may be at risk of another decline.…

The recent performance of Ethereum (ETH) in the market, and its deflationary tendencies, have attracted the attention of numerous cryptocurrency traders and investors. Starting from December 2022, the supply of Ether has been consistently increasing. Several factors have contributed to this inflationary pattern observed in Ethereum. Notably, the reduction in transaction fees, coupled with an augmented daily issuance, has expedited the growth in ETH’s supply. The accompanying graphical representation provides a clear visual of Ethereum’s deflationary trajectory, set against its network activity. An analysis of this chart reveals some noteworthy insights. The current burn rate stands at 402,000 ETH per…

Coinidol.com provides a cryptocurrency price analysis report. The price of Dogecoin (DOGE) is currently dipping below the moving average lines. Long-term Dogecoin price prediction: pessimistic Last week, the cryptocurrency asset experienced a depreciation in value as bearish forces breached the price range of $0.060 to $0.064. The momentum of the upward movement has been hampered by the moving average lines, resulting in a descent to the $0.056 support. At the time of this report, Dogecoin is valued at $0.058, with the price maintaining its position at the current support level. Since October 9, the price has been oscillating above the…

Charles Hoskinson, the founder of Cardano, has once again found himself in disagreement with the XRP community. In a recent series of posts on the X social media platform, he playfully poked fun at some of the conspiracy theories revolving around Ethereum. Hoskinson shared, “My favorite aspect of the holiday season is stirring the XRP ETHGate Hornet’s nest with easily meme-able soundbites connected to nuanced points that often go unnoticed. It’s akin to the first snow of winter.” Furthermore, the Cardano founder questioned the accuracy of claims linking him to events that occurred well after his eventful departure from the…

Based on data from IntoTheBlock, Shiba Inu’s profitability has seen a modest uptick as the SHIB price returns to a pivotal level. IntoTheBlock, an on-chain analytics platform, categorizes addresses and tokens to provide a comprehensive view of the profitability of a specific cryptocurrency. These classifications are based on whether users are currently making a profit (in the money), breaking even (at the money), or experiencing losses (out of the money) on their holdings at the prevailing price. This is determined by calculating an address’s average cost, considering the weighted average price at which the tokens were acquired. Regarding Shiba Inu,…

Ethereum developers are providing a preview of an upcoming mainnet shadow hard fork ahead of the launch of the Dencun upgrade. As per the Ethereum ACDE call report by Christine Kim, the ETH developers have indicated that they will execute a shadow fork on the Ethereum mainnet following Devnet #10. This action aims to conduct additional testing for the Dencun upgrade, potentially running concurrently with testing on public testnets. Ethereum developers are making preparations for the impending launch of Devnet #10. As indicated in the article, it is anticipated that Devnet #10 will be ready, ideally within the next week.…

NFTs experienced a robust 15% surge in trading volumes, attributed to the U.S. Securities and Exchange Commission’s (SEC) decision to forgo an appeal in the Grayscale Bitcoin Trust case. According to data from the on-chain aggregator CryptoSlam.io, the NFT ecosystem observed a significant uptick of 15% within the past 24 hours, with the total trading volume exceeding $9.7 million. Notably, there was also a 5.9% rise in the number of investors actively engaging in NFT acquisitions. Ethereum-based NFT collections demonstrated a notable 26.7% increase in sales, generating $5.2 million in trading revenue during the same 24-hour period. Meanwhile, digital collectibles…