Author: Sollcrypto

Ethereum co-founder Vitalik Buterin recently deposited 200 ETH (worth $534,000) to the Kraken exchange, as reported by cryptocurrency analytics platform Lookonchain. Currently, the second-largest cryptocurrency is trading at $2,647, down 3% over the past 24 hours. Previously, on August 9, Buterin transferred 3,000 ETH (valued at $8.05 million at that time) to a multi-signature safe wallet, which Lookonchain suggested might be a donation. On August 5, the Canadian programmer moved another 3,000 ETH (valued at $7 million at that time) to a different wallet. Buterin is believed to hold over half a billion dollars worth of ETH. Earlier in August,…

Bitcoin Bounces Back: Analyst Eyes Crucial $70,000 Resistance Zone After a tumultuous week in the market, Bitcoin has demonstrated resilience, rebounding from a recent dip to $49,000 and reclaiming the $60,000 milestone. This recovery is crucial for Bitcoin’s continuation to the upside, aiming to regain levels lost during the 20% correction on August 5. Despite obstacles, the largest cryptocurrency continues to show signs of sustaining the macro uptrend that has been prevalent since the beginning of the year. ‘Golden Buying Opportunities’ In a recent analysis of Bitcoin’s price action and technical outlook, crypto analyst Doctor Profit provided insights into market…

Daily Digest Market Movers: Ethereum ETFs, Whale Activity, and On-Chain Signals Ethereum ETFs Boost the Crypto Landscape Ethereum ETFs recorded a net inflow of $155 million last week, according to CoinShares’ data. This marks the highest inflow among all digital assets, signaling that traditional investors took advantage of the market correction to buy ETH at lower prices. Notably, BlackRock’s iShares Ethereum ETF (ETHA) is nearing $1 billion in cumulative net inflows, having surpassed $900 million last week. With outflows from Grayscale’s ETHE slowing and the broader market recovering, ETH ETFs could positively influence Ethereum’s price in the coming weeks. Whale…

Bitcoin Aims to Reclaim $60,000 Amid Short-Term Correction, Analyst Predicts New Record High Bitcoin (BTC) is targeting the psychological level of $60,000 during a short-term correction, with technical indicators suggesting the cryptocurrency is poised for a new record high. On August 12, analyst TheMoonCarl posted on X, stating that Bitcoin is encountering key resistance. If breached, this could propel the cryptocurrency to $125,000. This prediction is based on the formation of a “cup and handle” pattern. TheMoonCarl highlighted Bitcoin’s price movement from 2021 to the present, pointing out the cup portion that began forming after the asset’s decline in late…

DMarket Leads NFT Sales on August 11 DMarket dominated the non-fungible tokens (NFTs) market on August 11, achieving a sales performance of $733,528, according to CryptoSlam data. The Mythos-based collection boasts an all-time sales volume of $485.22 million, ranking as the 14th largest in the industry. DMarket represents in-game items for popular games like Counter-Strike and Dota 2. The second-ranking collection for the day was Guild of Guardians Heroes on the Immutable blockchain, also game-related NFTs, with a daily sales volume of $531,721, slightly down from the previous day’s $591,119. Kgirl, a Polygon-based collection, secured the third spot with daily…

Dogecoin Price Analysis: Potential Risk for $1.4 Billion DOGE Dogecoin’s price broke out of a falling wedge early Monday morning, signaling a potential bearish reversal. The 4-hour price chart indicates that DOGE has experienced some relief from the recent downtrend, with the price rising over the past few hours. However, DOGE is not out of danger yet. Futures data reveals increasing sell pressure on the asset, putting over $1.4 billion worth of DOGE at risk of significant losses.

Ethereum’s base fees have dropped to a multi-year low of just 0.8 gwei, according to recent data. Users pay gas fees for transactions to ensure the network remains resilient to spam. The base gas fee is the minimum amount of gwei required for a valid transaction, though users can opt to pay higher fees for quicker inclusion in the next block. Ethereum fees are influenced by network demand. They peaked at $196 in May 2022. Following the Dencun upgrade, which introduced “blobs” for improved scalability and faster, cheaper transactions, the network experienced a significant drop in fees. The persistently declining…

Solana (SOL) Eyes $200 Resistance, But Analyst Warns of Potential Volatility As Solana (SOL) shows signs of maintaining its bullish momentum to reclaim the $200 resistance, an analyst cautions that investors should brace for possible turbulence. Crypto trading expert Alan Santana has noted that Solana, the decentralized finance (DeFi) token, displayed a significant bearish signal in August 2024, indicating a potential deeper decline in its price. In an August 10 TradingView post, Santana highlighted that Solana’s recent price and volume patterns closely mirror those observed in July 2023. In July 2023, after more than 45 days of consistent price increases,…

Bitcoin’s Fate Hinges on Holding $62,000 Amid Death Cross Warning, Says Analyst Benjamin Cowen Crypto analyst Benjamin Cowen recently delved into the implications of the death cross indicator, which has resurfaced on Bitcoin’s chart. This indicator highlights the importance of the $62,000 price level in preventing another Bitcoin crash. In a video posted on his YouTube channel, Cowen emphasized that Bitcoin could face a significant drop if it does not maintain its position above $62,000 as the death cross approaches. After rebounding from a crash below $50,000 on August 5, Bitcoin surged to $62,000. However, this rise has brought about…

Bitcoin Shows Potential for Price Increase, According to Recent Technical Charts and CryptoQuant Data Recent technical charts and data from CryptoQuant suggest that Bitcoin may be poised for a price rise. The charts indicate that Bitcoin is forming a bullish flag pattern, a technical indicator that often precedes a price increase in the coming months. Bitcoin forming an ascending flag pattern “Examining the on-chain NetFlow chart shows the increasing pressure to buy Bitcoin. This is a confirmation of Bitcoin’s technical pattern.” – By @CryptoOnchain Full post 👇https://t.co/CdrZvMbkkv pic.twitter.com/pDtY4e37XD — CryptoQuant.com (@cryptoquant_com) August 8, 2024 Onchain Data Shows Strong BTC Buying…