Author: Sollcrypto
Ethereum encountered a notable setback in the previous week as its price tumbled to a level not seen in seven months. Intriguingly, this decline happened in conjunction with the blockchain network’s total gas fees dropping to their lowest point in three years. During this past week, increased volatility gripped the wider cryptocurrency market due to the ongoing conflict between Israel and Palestine over the Gaza Strip. The price of ETH falls to its lowest point in seven months. Over this timeframe, ETH’s worth experienced a 6% drop, settling at approximately $1,520, partly due to the Ethereum Foundation and prominent whale…
Bitcoin (BTC) faced a challenging week in terms of its price performance. It began to retrace on October 7, following a week of consolidation that followed a consistent uptrend since September 11. Over the past seven days, BTC saw a drop of approximately 4% in its market value as of the time of this report. However, experts have turned their attention to various factors such as technical analysis (TA), the psychology of the cryptocurrency market, and Bitcoin’s underlying fundamentals in anticipation of a potentially favorable trend in the weeks ahead. Notably, on October 13, Ferrari made a significant announcement that…
Ethereum (ETH) has hit a seven-month low, dipping to $1,528. Notably, Standard Chartered anticipates ETH reaching $8,000 by 2026. Ethereum, the second-largest cryptocurrency in terms of market capitalization, recently reached its lowest point in seven months, at $1,528. Over the last three months, ETH has faced significant bearish pressure, resulting in a sustained downward trend. Despite a brief attempt by bulls to breach the $1,750 resistance level in early October, this upward momentum was short-lived. At present, ETH is trading at $1,543, marking a 2% decrease over the past 24 hours. During the same period, trading volume has seen a…
Binance, among the world’s largest cryptocurrency exchanges, has officially declared its endorsement of the upcoming network upgrade for aelf (ELF), a prominent altcoin currently valued at $220.16 million. As part of facilitating the network enhancement, deposit and withdrawal services for the aelf network will undergo a temporary suspension. Deposits and Withdrawals for ELF Temporarily Halted Binance, a prominent cryptocurrency exchange, has affirmed its backing for the upcoming aelf network upgrade, scheduled for around 13:00 on October 17th or upon reaching block height 175,663,892. Commencing around 12:00 on October 17th, Binance will enact a temporary suspension of ELF deposits and withdrawals.…
Amid the continually expanding world of crypto and Web3, Worldcoin’s (WLD) groundbreaking state bridge technology facilitates seamless integration of developers’ creations with the World ID protocol and EVM-compatible chains, advancing Web3 towards a more interconnected and inclusive future. Summary Enhancing accessibility in crypto and Web3: The introduction of Worldcoin’s (WLD) state bridge and World ID protocolExploring the World ID protocol and its Merkle tree frameworkThe progression of state bridge architectureStringent security evaluations and a dedication to excellenceIn conclusion: Web3, cryptocurrencies, Worldcoin, and the World ID protocol Enhancing accessibility in the world of cryptocurrencies and Web3: Worldcoin’s (WLD) latest state bridge…
The price of Bitcoin (BTC) and the search patterns observed on Google Trends are closely linked factors. This connection arises from the fact that a surge in interest in Bitcoin, the prominent cryptocurrency, can result in both elevated prices and an increased frequency of searches for the term “Bitcoin” on Google. The Present Status of Bitcoin According to Google Trends Over the past couple of years, Bitcoin has undergone remarkable price fluctuations. It embarked on a bearish trend, plummeting from its all-time high (ATH) of $69,000 in November 2021 to a nadir of $15,400 by November 2022. In recent times,…
Jacob Creech, the Head of Developer Relations at Solana Foundation, took to Twitter to announce a $400,000 reward for those who can uncover the code capable of “disabling the Solana network.” This enticing reward is just one of many security bug bounties made available by the Foundation, including a substantial $1 million bounty for the disclosure of consensus violations. The current Solana price is undergoing a crucial test of its support level. A failure to maintain this support could potentially drive SOL to its lowest point in four months. Despite being hailed as an Ethereum competitor, Solana, like all blockchain…
Bitcoin’s price is currently in a consolidation phase above the $26,550 mark. While there is potential for an upward correction, any gains could be limited, with resistance likely at the $27,400 and $27,500 levels. The cryptocurrency is seeing support around the $26,550 level, although it’s trading below both $27,200 and the 100-hourly Simple Moving Average. On the hourly BTC/USD chart provided by Kraken, a significant bearish trend line is taking shape, with resistance forming around $26,200. While there’s a possibility of a corrective move to the upside, it’s important to note that bearish sentiments could prevail around the $27,500 region.…
Litecoin’s price is on the brink of dipping below the $60 mark, bringing it within a mere 2.4% of establishing new year-to-date lows. The average weekly transaction volume of Litecoin whales has dwindled to $3 billion, marking the lowest point since November 2020. With a substantial 0.73 correlation to Bitcoin, LTC’s recovery is heavily reliant on the performance of BTC. While Litecoin’s price trajectory has, and is likely to continue, closely mirroring that of Bitcoin, its susceptibility to a decline is exacerbated by the conspicuous inactivity of its prominent whale addresses. Litecoin Price Approaching Fresh Lows As of the current…
The price of Bitcoin continues to decline, with it currently trading below the $27,000 mark, indicating the potential for further downsides below the crucial support levels of $26,500 and $26,200. Bitcoin’s downward trajectory persists, displaying bearish signals as it remains below the $27,000 threshold and the 100-hourly Simple Moving Average. On the BTC/USD hourly chart sourced from Kraken, two bearish trend lines are taking shape, with resistance zones positioned near $26,950 and $27,400. This trend suggests the possibility of the pair continuing its descent towards the $26,000 support level in the immediate future. Bitcoin’s Value Continues to Decline Bitcoin struggled…