Author: Sollcrypto
In the midst of the prevailing bearish sentiment in the cryptocurrency market, Dogecoin’s price retreated from the weekly resistance level at $0.064 on October 2nd. This subsequent pullback resulted in a 4.7% decline over the last five days, bringing the coin’s current price to $0.061. The lingering question now is whether the increased selling pressure will prolong the correction, or if DOGE will maintain its range-bound movement. Can the Recently Discovered Rebound Reach $0.07? The DOGE price is expected to maintain its lateral movement until the rectangle pattern remains intact. If a bullish breakout occurs beyond the $0.064 resistance level,…
In the turbulent cryptocurrency landscape, grasping investor sentiment can be an essential but intricate source of insight. Ki Young Ju, the CEO and co-founder of CryptoQuant, has recently indicated that significant investors continue to approach the market with a “risk-on mode.” In a post shared by Ki Young Ju on the microblogging platform X (formerly known as Twitter) with his extensive following of over 300,000 users, it was highlighted that Bitcoin whales are still displaying a willingness to take risks by transferring their coins to derivatives trading platforms. The analyst’s chart illustrates the “interexchange flow pulse,” which measures the net…
Bitcoin has emerged as a significant participant in the non-fungible token (NFT) arena. A recent report by Galaxy Research emphasizes this point by revealing that within its initial 200 days, the Bitcoin network has witnessed the creation of 1.14 million image-based NFTs. This number surpasses the cumulative count of NFTs minted on prominent blockchain networks such as Solana, Ethereum, and Polygon during their respective initial 200-day periods. What Exactly Do Bitcoin Ordinals Refer To? In January 2023, software engineer Casey Rodarmor unveiled the Ordinals protocol. This innovative protocol serves as a means to seamlessly incorporate data into the Bitcoin blockchain.…
“On-Chain Activity Suggests Potential Short-Term Price Boosts for Ethereum (ETH) and Two Altcoins, as Analyzed by Santiment” Santiment, the cryptocurrency analytics firm, has observed on-chain data indicating that Ethereum (ETH) and two alternative cryptocurrencies may be poised for short-term price rallies. According to Santiment, traders for ETH, Shiba Inu (SHIB), and SushiSwap (SUSHI) displayed “mild signs of panic” on a recent Thursday. The analytics firm highlighted that all three networks exhibited some of the highest levels of trader losses compared to profits in 2023. Santiment views these loss-taking indicators as significant capitulation signals, typically signaling a short-term rebound opportunity. As…
As of October 6, 2023, Cardano, represented by its ticker ADA, holds the eighth position in market capitalization within the cryptocurrency space. It is valued at slightly over $9 billion, accounting for approximately 0.817% of the total cryptocurrency market, which stands at $1.08 trillion. In the ever-evolving digital currency landscape, ADA has emerged as a significant player. This article explores the origins of Cardano, its native cryptocurrency ADA, its historical development, and its functionality. An Overview of Cardano: Its Origins and the Visionaries Behind It Cardano, an open-source and decentralized blockchain platform, facilitates peer-to-peer transactions using its native cryptocurrency, ADA.…
In a surprising development within the Ethereum ecosystem, the blockchain has revealed its adoption of a significant portion of the emerging “two-tiered staking” model, which encompasses two distinct participant categories: Node operators and Delegators. Ethereum’s founder, Vitalik Buterin, addressed the community to discuss potential issues with this emerging staking approach and potential solutions. While the inclusion of Node Operators in existing staking pools enables them to operate nodes, it raises concerns about decentralization. Additionally, the significant presence of liquid staking may result in increased burdens without commensurate benefits. Expanding on the potential roles that Delegators could assume to significantly contribute…
Staking cryptocurrencies encompasses various methods, networks, and objectives. Nonetheless, they all share a common feature: Staking tokens regularly rewards their holders with a proportionate portion of their stakes on the network or application. This occurs because investors exchange their liquidity, locking their tokens under specific protocol-defined rules, for the privilege of direct participation in the system. This participation can take various forms, including becoming validators in a Proof of Stake (PoS) consensus, participating in protocol governance, or providing liquidity to decentralized exchanges, lending platforms, or collateralized assets. Importantly, maintaining liquidity incurs a cost, often referred to as “passive income.” Notably,…
In the previous week, Bitcoin’s price exhibited a significant bullish upswing. This follows an extended period of consolidation, wherein the primary cryptocurrency remained static below the $27,000 threshold for an entire month. Nonetheless, with the recent breakout and the resurgence of bullish sentiment in the market, analysts are currently forecasting the possibility of a substantial surge that could drive Bitcoin’s price beyond the $30,000 mark. Bitcoin Price Sustains its Bullish Momentum Technical analyst Gert Van Lagen underscores a notable breakout from a prolonged descending channel, indicating the conclusion of a corrective wave and setting the stage for a potential parabolic…
Solana (SOL), one of the prominent blockchain platforms in the industry, is displaying encouraging signs in its price charts. Based on the most recent data, Solana has positioned itself near the peak of its current trend, hinting at the potential for a bullish crossover in the near future. Currently trading at $22, this cryptocurrency is holding its ground above the crucial 50-day moving average, a significant metric for both traders and analysts. The convergence of moving averages is a phenomenon that garners close attention from market participants. In the case of Solana, these moving averages are gradually drawing nearer, suggesting…
Litecoin (LTC) has witnessed a 50% decline in price since attaining its annual peak of $115 in July. Presently, it is trading above the long-standing horizontal support at $63 and has successfully breached a descending resistance trendline. Litecoin revisits its historical low within the long-term trading range. In the context of weekly technical analysis, Litecoin has seen a decline since July, when it reached its annual peak at $115. This downward movement led to a significant breach of an ascending support trendline, pushing the price down to $56 in August, representing a 50% decrease from its peak. For simplified cryptocurrency…