Etherisc DIP Token
|All Time High:
|The price of #DIP today is $0.033 USD.
The lowest DIP price for this period was $0, the highest was $0.033, and the current live price for one DIP coin is $0.03266.
The all-time high DIP coin price was $0.49.
Use our custom price calculator to see the hypothetical price of DIP with market cap of ETH or other crypto coins.
|The code for Etherisc DIP Token crypto currency is #DIP.
Etherisc DIP Token is 3.5 years old.
|The current market capitalization for Etherisc DIP Token is $29,533,569.
Etherisc DIP Token is ranked #1092 out of all coins, by market cap (and other factors).
|There is a small daily trading volume on #DIP.
Today's 24-hour trading volume across all exchanges for Etherisc DIP Token is $2,361.
|The circulating supply of DIP is 904,300,001 coins, which is 90% of the total coin supply.
|DIP has limited pairings with other cryptocurrencies, but has at least 4 pairings and is listed on at least 2 crypto exchanges.
View #DIP trading pairs and crypto exchanges that currently support #DIP purchase.
|Note that there are multiple coins that share the code #DIP, and you can view them on our DIP disambiguation page.
More Etherisc DIP Token (#DIP) News
|Spot Bitcoin ETFs' Momentum Stalls: Inflows Dip Despite Prior Surge
After an impressive run, spot Bitcoin ETFs appear to have hit a snag as inflows saw a minor reduction.
Lookonchain's latest analysis reveals a concerning trend in the cryptocurrency market as Bitcoin ETFs experience a significant decrease in inflows.
Bitcoin Inflows Hit Snag
According to the provided data, only 18,477 BTC, equivalent to $951 million, were added across 8 ETFs from 12th February to 16th February, marking a stark contrast to the previous week's influx of 47,961 BTC, which is approximately $2.47 billion.
Of particular note is Grayscale, which saw substantial outflows of 9,557 BTC, valued at $492 million.
8 ETFs added only 18,477 $BTC($951M) last week, while added 47,961 $BTC($2.47B) in the week '02-12 to 02-16'.#Grayscale decreased by 9,557 $BTC($492M) last week. pic.twitter.com/FlEvkEGohK
— Lookonchain (@lookonchain) February 26, 2024
Grayscale's Bitcoin Trust (GBTC) has been experiencing a notable decrease in outflows only recently. By the conclusion of January, GBTC recorded total outflows of over $5 billion, with a particularly significant outflow of $640 million recorded on January 22nd alone. Throughout February, there has been a diminishing trend in outflows totaling $1.8 billion.
GBTC has observed a total outflow of $7.4 billion since the very beginning. The latest data by BitMEX Research, in fact, highlighted that on February 23rd, GBTC recorded withdrawals of $44.2 million, representing the lowest daily volume since its transition to an ETF on J...
|Solana Price Threatens to Dip Back Below $100, But Could Bitcoin Minetri...
Solana (SOL) has struggled to gain momentum this week, with its price falling below $105 today.
This poor performance has led to worries that SOL may dip back under the $100 mark for the first time since early February.
However, one project that could be set to surge soon is Bitcoin Minetrix (BTCMTX), which has now raised over $11 million in its presale.
Solana’s Struggles Continue as Token Heads Towards $100 Level
Solana’s price action has been lackluster over the past week – a concerning trend for a top 10 cryptocurrency.
After hitting highs of $118.50 last Thursday, SOL has posted six out of seven red daily closes since then, unable to find any upside momentum.
This poor run of form now has Solana trending towards the critical $100 level, which would mark a psychologically important dip if breached.
Trading volumes have also dried up recently, declining 15% since yesterday alone.
This suggests waning interest in SOL at the moment from speculative traders.
Solana’s struggles have seen it lose ground rapidly – it has now been flipped by Binance Coin (BNB) in terms of market cap and 24-hour volumes.
Both metrics highlight how quickly Solana is losing relevance amongst the world’s top cryptos.
So, although the broader market has shown signs of consolidation lately, Solana stands out as a notable underperformer.
On-Chain Data Reveals Fading Solana Usage & Sentiment
Solana’s troubling price action can’t be blamed solely on market...
|BTC Dip to $40K Could Send Alts Falling by 20-30%; Can GFOX Provide a Sa...
A market sell-off of Bitcoin (BTC) has pushed fear into the buoyant sentiment, deflating the mood. A BTC drop to $40,000 could see alts fall by 20-30%. Greyscale Bitcoin Trust sellers seem to be the main culprits.
There is still plenty of sell pressure to be absorbed into the order books. The question is if up-and-coming projects like Galaxy Fox ($GFOX) can provide a safety net from the volatility.
Bitcoin ($BTC): A Potential Drop To $40,000, Havoc For Altcoins
A market-wide sell-off of Bitcoin driven by GBTC holders and Barry Silbert pushes $BTC’s price closer and closer to $40,000. If Bitcoin loses this level of support, it could easily shoot down lower. Bitcoin losing this much ground might also see alts take a nosedive and lose even more than they have already. But why are GBTC holders selling?
Many arbitraged the discount between $BTC’s spot price and the price of GBTC. Traders could essentially buy $BTC at a discount, betting on the fact that one day, GBTC would be converted to a Spot ETF. That day has come and profits are being taken, essentially pushing the discount to NAV to 0%
Bitcoin falling signals overall weak sentiment, and risk-appetite dwindles practically overnight. Traders sell off their riskier positions, and altcoins start tanking, which leads to a negative knock-on effect of more investors and traders cutting their positions.
Galaxy Fox ($GFOX): An Up-and-Coming Project
Galaxy Fox offers investors a safe harbor during this volatile period but...
|Weekly NFT Sales Dip — Ethereum Outshines Bitcoin, Solana and Aval...
The latest statistics indicate a further decline in non-fungible token (NFT) sales this week, showing a 5.05% decrease compared to the previous week. Sales of NFTs reached $297 million, with Ethereum leading the way this week. Ethereum's sales amounted to $106 million, overtaking Bitcoin's $70 million in sales over the same seven-day period.
Ethereum Leads in Weekly NFT Sales, Outperforming Bitcoin as Digital Collectibles Market Experiences Overall Decline
Sales of non-fungible tokens (NFTs) have seen a 5.05% decrease from the previous week, yet there's been an 82.40% rise in buyers and a 77.46% increase in sellers. Recently, Bitcoin had been leading in sales, but Ethereum has now captured the leading position with $106 million in NFT sales, marking a 28.15% increase from last week. Meanwhile, Bitcoin's total sales amounted to $70,367,439, reflecting a 35.25% downturn according to cryptoslam.io metrics.
Solana witnessed a 35.07% uptick in sales, reaching $59 million over the past week. In contrast, Polygon experienced a downturn, with sales totaling $25.33 million, a 43.02% decline from the previous week. Among the top five blockchains for NFT sales, Avalanche enjoyed a 22.13% increase, culminating in $14.24 million in volume. Arbitrum also stood out with a significant 26.02% increase, securing $3.27 million in NFT sales over the same seven-day period.
This week's leading NFT collection was Solana's Cryptoundeads, achieving $15.9 million in sales. Trailing behind was Bitcoi...
|Chainlink Gets Whale Backing: LINK Price Up 14% Amid Market Dip
In the midst of the recent turbulence within the cryptocurrency market, Chainlink (LINK) has emerged as a notable outlier, demonstrating resilience against the sweeping downturn that has left major altcoins crumbling.
Surprisingly, LINK has steadfastly clung to the $16 mark, showcasing a 14% rally in the last seven days and defying the prevailing market trends. However, investors are left to ponder whether this is a promising sign for Chainlink's future or merely a momentary blip in the radar.
Massive Chainlink Whale Purchase
This positive signal coincides with a notable $8.9 million whale purchase, injecting a substantial dose of confidence into the market. Yet, beneath the surface, murmurs of a whale exodus are causing concern.
After the price of $LINK dropped today, a whale spent 8.9M$ to buy 601,949 $LINK at $14.81 with 3 new wallets.https://t.co/W7BjWM2XsP pic.twitter.com/xlFPqWv4ko
— Lookonchain (@lookonchain) January 19, 2024
This purchase also dampens some worries especially following a recent selling spree by Chainlink investors, who offloaded a significant 2.3 million tokens since January 12th.
The positive signal also comes after recent concerns in the absence of a noteworthy uptick in fundamental growth metrics such as network usage. Without substantial real-world adoption, the coveted $20 price point for Chainlink might remain an elusive mirage.
Chainlink's Strengths Persist Amid Market Uncertainty
Meanwhile, IntoTheBlock's global in/out of the mon...
|Analyst Advises Investors to Buy the Bitcoin Dip — Predicts 'Asymm...
A senior analyst with global asset management firm Alliance Bernstein has recommended that investors buy the bitcoin dip and focus on 'the new bitcoin adoption cycle.' His advice followed the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). 'The minor selloffs are opportunities in view of the asymmetric upside ahead,' the analyst explained.'Buy the Dip and Focus on New Bitcoin Adoption Cycle'
Global asset management firm Alliance Bernstein's senior analyst specializing in digital assets, Gautam Chhugani, has advised investors to buy the bitcoin dip, according to a client note reviewed by Yahoo Finance. The analyst stated:
Our simple advice to all investors is - buy the dip and focus on the new bitcoin adoption cycle. The minor selloffs are opportunities in view of the asymmetric upside ahead.
The SEC approved 11 spot bitcoin ETFs last week. The anticipation surrounding the approval sent the price of bitcoin soaring past $49K. However, it subsequently dropped to around $42K. At the time of writing, BTC is trading at $43,170.14.
In November last year, Alliance Bernstein said in a note that it expects the price of bitcoin to reach $150,000 by 2025. Chhugani explained at the time that this prediction is driven by the optimism of anticipated spot bitcoin ETF approval. 'You may not like bitcoin as much as we do, but a dispassionate view of bitcoin as a commodity suggests a turn of the cycle,' he noted.
Many people see the ...
|ETF Frenzy: Bitcoin Takes A Dip, Ethereum Goes Hot And The Next Crypto C...
In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back on Saturday, dipping 6% to end the week barely above $43,000.
Many analysts predicted a 'sell-the-news' scenario, where investors cashed in on profits built upon anticipation of the ETF approval. Others suggest a rotation into Ethereum, which surged 15% on the week and touched highs not seen since May 2022.
Ethereum ETF Speculation: Shaping Crypto Narratives
This speculation is fueled by expectations of imminent Ethereum ETF decisions from the SEC, potentially mirroring the winds that propelled Bitcoin towards a 60% rally in recent months.
According to Alex Saunders, a Citi analyst, the cryptocurrency market has transitioned to a new narrative, as Ethereum has outperformed Bitcoin. This surge is believed to be driven by anticipation that the second-largest cryptocurrency could receive approval for an ETF.
'In our view, the crypto market has already moved to the next narrative, with ETH rallying more than bitcoin, likely on the expectation that crypto's second largest token could also see an ETF approval,' Saunders said. While the immediate price action might paint a contrasting picture, the significance of the ETF launch for Bitcoin's long-term trajectory remains undeniable. Market participants across the board agree that ETFs will pave the way for increased instituti...
|Bitcoin's Rollercoaster: Surges Then Faces Sudden Dip As Options Expiry ...
According to Crypto trader Mags, Bitcoin, the flagship cryptocurrency, has recently demonstrated a notable +55% surge, breaking out from a smaller broadening wedge pattern.
Mags shared insights on this significant price movement, observing Bitcoin’s breakout and suggesting a mid-term target at the 'upper trendline resistance of a larger broadening wedge.'
This surge notably results from several catalysts in play, such as the surging interest of institutional investors and the US approval of spot Bitcoin Exchange-Traded Funds (ETFs).
Upcoming Options Expiry Impact's Bitcoin Price
However, Bitcoin has seen a slight downturn following its recent surge over the past 24 hours. Despite being significantly up over the past month, the asset has declined by nearly 10% in the past day, with its current trading volume slightly decreasing to $44 billion from over $50 billion yesterday.
This sudden dip can largely be attributed to the imminent expiration of options. According to the options trading platform Greeks.live, a substantial 36,000 BTC options are set to expire soon, featuring a Put Call Ratio of 0.9.
Notably, the 'Put Call Ratio' serves as a sentiment indicator, assessing the market mood by comparing the volume of put options to call options. It is calculated by dividing the number of traded put options by the number of traded call options.
Put options grant the holder the right (but not the obligation) to sell a specified amount of an underlying asset at a predetermined...
|Bitcoin's Dip Below $43k Sparked Aggressive Buying from Large Holders: R...
Earlier this month, Bitcoin's USD value witnessed a rapid decline from $45,400 to $40,400 in a matter of hours. Despite a quick rebound, this downturn triggered the third-highest volume of long liquidations since the bear market reached its lowest point in November 2022.
However, IntoTheBlock's analysis reveals a noteworthy trend in the market, indicating a strategic move by large holders during the recent price dip.
Large Bitcoin Holders Accumulate Big During Dip
Bitcoin holders with more than 1% of the total supply have actively accumulated a substantial amount, exceeding 14,000 BTC over the past week. According to the crypto analysis platform's findings, the accumulation coincided with a period where Bitcoin prices temporarily fell below $43,000.
The actions of these significant holders suggest a strong belief in the long-term potential of Bitcoin, as they took advantage of the lower prices to increase their holdings. This type of activity from large holders often serves as an indicator of confidence in the asset.
'Large holders bought the dip! Bitcoin holders holding >1% of the supply accumulated more than 14k $BTC over the past week as prices dipped below $43k.'
'Buy The Dip' Mentions Soar
The rising excitement in the cryptocurrency community regarding the potential approval of a Bitcoin ETF has significantly impacted the industry's recovery from the challenges of 2022.
Approval is anticipated to create potential opportunities for mainstream investors to engage in the di...
|Why The Crypto Flash Could Be The Buy The Dip Moment
In a flash, nearly $200 billion in value was wiped out of the cryptocurrency market today in a larger selloff driven by rumors that pending Bitcoin ETF approvals could end up denied by the SEC. Despite the carnage across crypto today, this could be the moment dip buyers have been waiting for.
Recapping The Crypto Market Flash Crash
At around 6AM this morning, Bitcoin price began falling, causing a cascade of liquidations in altcoins. Bitcoin dropped nearly 10% while altcoins fell anywhere between 20 and 30% from local highs.
The move has likely caused a lot of fear, uncertainty, and doubt. And when in doubt, you're supposed to zoom out. Moving away from the daily timeframe and into higher timeframes like the monthly can provide comforting view in contrast to the nasty wick left behind on the daily chart.
Instead, the high timeframe view shows that there is a breakout confirmed by high volume. The market has the rest of January to close with a gain, turning the volume bar green. If it does, this could prove to be the ideal buy the dip moment.
Why A Breakout Could Be Confirmed By The End Of January
A high volume breakout after three years of declining volume is undeniably significant and could hint at a cryptocurrency market bull run in the coming months. Volume tends to confirm price breakouts when paired with technical indicators and/or chart patterns.
In the example above, 1M BTCUSD closed above the Ichimoku's Kijun-sen. This didn't happen in 2019, but did in 2020 into 20...
|Okx to Cut Ties With Privacy Coins Amid Regulatory Heat, Triggering Mark...
In light of the ongoing dialogue around Binance's removal of privacy coins, the cryptocurrency exchange Okx has declared the removal of various spot trading pairs linked to privacy tokens such as monero, zcash, and dash. Okx attributes its decision to remove these offerings to 'feedback from users' along with the exchange's established guidelines for delisting.Privacy Tokens Take a Hit: Okx Joins Binance in Major Delisting Wave
Once more, privacy coins face removals as regulatory and compliance requirements intensified significantly throughout 2023. Okx revealed the removal of 20 trading pairs, set to cease operation after Jan. 5, 2024. Two days prior on Dec. 27, Okx halted deposits for ZEN, XMR, CAPO, DASH, FSN, CVP, ZKS, and ZEC. The suspension of withdrawals for these coins is slated for March 5, 2024.
'In order to maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular basis,' the exchange details. 'Based on feedback from users and the Okx Token Delisting / Hiding Guideline, we will be delisting several trading pairs that do not fulfill our listing criteria.'
Advocates of privacy are expressing discontent with the delisting moves by Okx and Binance. Conversely, some argue that they are indifferent and that certain privacy coins will continue to thrive regardless of support from exchanges.
Following the announcement, a significant dip occurred in the value of many p...
|Bitcoin Whales Bought The Recent Dip While Market Panicked
On-chain data suggests the Bitcoin whales may have participated in a significant amount of buying while the market was panicking about the recent lows.
Bitcoin Exchange Netflow Has Been Quite Negative Recently
An analyst in a CryptoQuant Quicktake post pointed out that the exchanges have recently seen outflows. The indicator of interest here is the 'exchange netflow,' which keeps track of the net amount of Bitcoin entering or exiting out of the wallets of all centralized exchanges. The metric's value is calculated by subtracting the outflows from the inflows.
When the indicator has a positive value, the inflows overwhelm the outflows, and a net number of coins moves into these platforms.
As one of the main reasons investors may want to deposit their BTC to the exchanges is for selling purposes, this trend can have bearish implications for the cryptocurrency.
On the other hand, the negative metric implies withdrawals are taking place, which can be a sign that the holders are accumulating right now. Such a trend could naturally turn out to be bullish for the asset's price.
Now, here is a chart that shows the trend in the Bitcoin exchange netflow over the past year:
The above graph shows that the Bitcoin exchange netflow has observed some deep negative spikes recently. This suggests that some large outflows have been occurring from these platforms.
Interestingly, these withdrawals came as BTC slipped towards the $41,600 level, implying that some investors were potentially buy...
|Stablecoins Value Dip in Recent Bull Market: Sixdegree Research
According to research by Sixdegree, stablecoins have not seen a significant increase in value during the recent bull market.
Their current total value is $129.5 billion, slightly lower than the $139 billion recorded in December 2022.
Ethereum vs. Tron in 2023
This trend can be attributed to the contrasting developments on two major blockchain platforms: Ethereum and Tron.
The former has seen a substantial decline in its stablecoin value, dropping by 34% since 2022 to the current number of $69.4 billion. In contrast, the value of stablecoins in Tron has surged by 57.7% during the same period.
Delving deeper into Ethereum's stablecoin dynamics, the distribution of these assets reveals some interesting patterns.
Half of the stablecoins on Ethereum are held in personal wallets, with 30% in centralized exchanges (CEXes) and only 5.5% in decentralized finance (DeFi) protocols. This represents a significant shift from the peak of January 2022, when DeFi protocols held about 25% of Ethereum's stablecoins.
The leading stablecoins on Ethereum, namely USDT, USDC, and DAI, have also experienced diverse trends. USDT has remained relatively stable with a 23% increase, whereas USDC and DAI have seen decreases of 47% and 30%, respectively.
In contrast, Tron's market dynamics offer a different narrative. Around 30% of its stablecoins are in CEXes, 0.2% in DeFi protocols, and the majority, approximately 70%, are held in personal wallets. This distribution suggests a distinct user behavio...
|NFT Sales Dip — Bitcoin Dominance and Solana's Rise Challenge Ethe...
In the last week, sales of non-fungible tokens (NFTs) have fallen by 12.26%, totaling $463.87 million, marking a decrease from the previous week. NFTs centered around Bitcoin topped the chart, amassing $265.61 million in sales, despite a 13.71% decline from the preceding week. Meanwhile, Solana NFTs climbed to the second rank, relegating Ethereum to third place in this week's sales.NFT Market Update: Digital Collectible Sales Slide 12.26% Lower Than Last Week
As NFT sales began climbing once more with Bitcoin surging to the forefront since early November, this week witnessed a 12.26% dip in sales, according to figures from cryptoslam.io. Conversely, the count of NFT buyers surged by 72.05%, and sellers increased by 56.61%.
This week's priciest NFT, 'Deep Vision #05128' on Cardano, fetched $551,750. Ethereum's 'Frxethredemption T' followed with a $369,208 sale price, and BNB's 'Lockdealnft #91' closed at $329,824.
Bitcoin's 'Bitcoin Frog #8518' garnered $137,957, while Avalanche's 'Nodeldnft #126' and Solana's '#3524' realized $51,312 and $39,492 respectively, rounding off the top six most expensive NFT sales by blockchain.
Among the ten leading NFT collections over the past week, nine hailed from the Bitcoin blockchain, with only Solana's 'Open Solmap' compilation breaking in as the fifth highest, amassing $10.24 million in sales.
Previously, Ethereum-based 'blue chip' NFT collections like Cryptopunks and Bored Ape Yacht Club (BAYC) dominated sales charts. Yet this week, BA...
|BNB Price Faces Critical Juncture: Head-And-Shoulders Breakout Or Bearis...
The Binance Coin (BNB) price is crucial as market analysts offer differing viewpoints on the cryptocurrency's potential direction. While one analyst presents a bullish case, anticipating a breakout and surge beyond $300, another raises concerns about a dip below $200.
BNB Price Analysis
Crypto analyst Ali Martinez suggests that BNB price could be on the verge of breaking out of a head-and-shoulders pattern.
Martinez emphasizes the significance of a sustained close above $261, which could catalyze BNB's upward trajectory toward $310. With a 2.9% gain over the past 24 hours and a 12% uptrend in the last fourteen days, the recent price action aligns with Martinez's breakout thesis.
Martinez analyzes the 1-day chart and identifies the $257 level as a crucial breakout point, signaling a potential shift in trend.
If the sustained uptrend continues, BNB's price could see a substantial 19.8% gain shortly, pushing the price toward $310. This projection remains just below BNB's yearly high of $350 in April.
However, contrasting this bullish outlook, Daan de Rover, a crypto analyst, and YouTuber, highlights BNB's downtrend structure in the 1-week chart.
Bearish Outlook For Binance Coin
According to de Rover, the current BNB price action “looks weak,” raising concerns about the currency's possible continuation of its downward trajectory, which began earlier this year.
The analyst points to the 'green box' on the 1-week chart, as seen in the graphic b...
|Bears Back in Town for Ethereum Thanks to a 3% Daily Dip (ETH Price Anal...
Ethereum’s price has seemingly struck a significant obstacle following weeks of aggressive rallying. Yet, a further bullish continuation cannot be ruled out yet, as there are several support levels available to overturn the trend.
The Daily Chart
On the daily chart, it is evident that the price has been rising consistently after a rebound from the $1,500 support zone. The large bullish flag has been broken to the upside, and the market has tested the $2,400 resistance level.
However, this level has decisively rejected the price, leading to a drop toward the $2,100 support area. In case it holds, ETH will likely rally toward the $2,400 level and beyond. On the other hand, a breakdown could result in a deeper correction and even a potential retest of the 200-day moving average, located around the $1,850 price mark.
The 4-Hour Chart
Looking at the 4-hour timeframe, things look worrying for Ethereum. The market has been making lower highs and lows since the rejection from the $2,400 level, demonstrating a clear bearish shift in the short-term market structure.
Nevertheless, the trend is still bullish, as the trendline depicted on the chart is yet to be broken. If this happens, the mid-term trend will be considered bullish, too, and a deeper drop can be expected in the coming weeks.
Ethereum Funding Rates
Ethereum’s price action has been significantly bullish ove...
|Bitcoin Price Crash, Buy The Dip Or Sell – This BTC Alternative Ra...
Bitcoin’s (BTC) price has fallen dramatically in the past 24 hours, declining over 7% and briefly tapping the $40,650 level.
This latest crypto market crash has investors wondering if now is the time to “buy the dip” or cut their losses and sell.
While Bitcoin’s future remains uncertain, a new project called Bitcoin Minetrix (BTCMTX) has defied the bearish momentum, raising over $5 million in its presale ICO.
Bitcoin Bulls Stunned as Price Drops Over 7%
The BTC price has reversed sharply since Friday’s high of $44,730, with the coin now hovering around $42,150 at the time of writing.
Bitcoin did drop lower than this in the early hours of Monday morning, yet has retraced some of its losses since then.
This decline wiped out most of the gains made during last week’s bull run – prompting an uptick in investor uncertainty.
Other major cryptocurrencies, including Ethereum (ETH) and XRP (XRP), have also posted significant losses in the past 24 hours.
More than $355 million worth of long positions were liquidated, demonstrating how overleveraged and risky the crypto market remains.
Expectations of spot Bitcoin ETF approvals and future Fed interest rate cuts have driven much of the momentum in the past three months.
Yet, questions still need to be answered over whether these factors can continue to support market growth.
Regardless, the Crypto Fear & Greed Index remains at 74 – its highest in over two years.
Investors Ponder Whether to...
|Bitcoin Transaction Fees Dip Amid November's Surging Miner Revenues
Transaction fees for Bitcoin have eased, following their surge to more than $18 per transaction on two separate occasions last week. As of November 24, 2023, the average fee per transaction stood at roughly $5.89, with the median fee per transfer being $2.86.Bitcoin Fees Cool Down - November's Mining Revenue Has Already Outstripped October's
After reaching a peak of over $18 per transfer on November 16 and 18, 2023, the expense for block space has seen a decline. Data from November 24 shows the average cost per transaction hovered at about $5.89.
This represents a significant decrease from the previous day's average of $14.06 per transfer, underscoring the fluctuating nature of block space costs over the past week.
Data from Dune Analytics reveals that Ordinal inscriptions continue to flourish, with over 300,000 mints daily following a peak of more than 475,000 inscriptions on November 19. On November 24, a total of 347,791 inscriptions were minted, and as of November 25, bitcoin miners have already processed upwards of 289,000 inscriptions.
This surge in inscriptions, combined with the volume of financial transactions, has resulted in the mempool being filled with over 200,000 transfers.
As of 4:00 p.m. Eastern Time (ET) on November 25, there are 206,697 unconfirmed transactions, which translates to a backlog of approximately 269 blocks worth of space, as per mempool.space.
Fee metrics from mempool.space on the same day, measured in satoshis per virtual byte (sat/vB), indic...
|Celestia Loses Momentum: Anticipating A Rebound Post 11% Dip
Celestia witnessed a notable decrease in its price over the current week, indicating the conclusion of its recent upward trend. Celestia's total market capitalization dropped below $800 million as a result of this decrease.
Tuesday's low for TIA was $5.4, the lowest since last week, and represented a significant 20% decline from the stock's highest point earlier this year. TIA, currently trading at $5.85, has shed 11% in the last 24 hours, based on latest data.
Celestia Tallies Over 200% Rally
After becoming public in October, the TIA token experienced a remarkable 232% increase, peaking at $7.50. Celestia's overall market capitalization was close to $1 trillion at its peak.
Celestia had been a notable performer in the cryptocurrency industry before the current setback, especially after its successful airdrop earlier in the year.
With minimal sell pressure disrupting the members' enthusiasm, Celestia accomplished what prior airdrops, like Arbitrum, were unable to: TIA mounted a prolonged upward move after the airdrop distribution.
Significant upward trends in key cryptocurrencies such as Tron, Solana, and Bitcoin were the reason for Celestia's success in the wider crypto sector. Generally speaking, airdrops work best when cryptocurrency values are rising.
Meanwhile, Celestia's price is going up to retrace back into the breakout channel. Its native token, Buyers quickly picked up on the retracement dump, which put the Celestia price back above the important lower trend...
|Will Bitcoin (BTC) Crash on Thanksgiving? Analyst Weighs in on Buying th...
Bitcoin's Recent Downturn: Bitcoin has dropped from $38,000 to around $37,300, with predictions of further decline during the Thanksgiving period based on historical trends.
Past Thanksgiving Price Trends: Historically, Bitcoin has seen price drops around Thanksgiving, with notable declines in the past three years.
Future Price Outlook: Analyst KALEO suggests buying during the dip and predicts a rise to $40,000 by year's end, while CryptoCon forecasts a new all-time high by May 2024.
Take Advantage of a Potential BTC Dip?
Bitcoin's price has recently slightly retraced from its yearly high of $38,000, currently trading at around $37,300 (per CoinGecko's data). The popular cryptocurrency analyst using the X (Twitter) handle KALEO thinks the downtrend could continue in the following days, especially during the upcoming Thanksgiving weekend.
They reminded that BTC has historically experienced price declines at that time in previous years. The asset retraced by 17% in 2020 around that holiday, 10% in 2021, and 5% last year.
However, KALEO believes investors should not be concerned about such a potential drop but rather take advantage and 'buy the dip:'
'None of those are too crazy, but as you can see below, there were some decent sell-offs across alts with them. Might not be a bad idea to have some dry powder ready to snag any dips if the trend holds up.'
Some of the Recent BTC Bets
KALEO recently predicted that Bitcoin's valuation could so...
|Fading Interest for Privacy Cryptos Leads to $440M Market Dip in 2023
Throughout 2023, numerous sectors within the cryptocurrency market have experienced gains. However, leading privacy-centric crypto tokens have lagged behind in performance compared to their counterparts. Since January, the market value of the privacy cryptocurrency sector has diminished by $440 million, marking a notable downturn over the last ten months.While Privacy Assets Gained $1.35B in 12 Months, $440M Was Erased in 2023
On Saturday, November 18, 2023, the market value of the privacy-focused cryptocurrency economy hovered slightly over $6 billion, reflecting a 0.6% decline against the U.S. dollar in the last 24 hours. Historical data reveals that on January 27, 2023, the collective value of leading privacy tokens was $6.44 billion.
This data suggests that the total group of privacy cryptocurrencies has experienced a 6.83% decrease in value when measured against the greenback. During that period in January, monero (XMR), the top privacy crypto asset in terms of market capitalization, was priced at $170.90 per XMR.
Presently, XMR's trading value has dropped to $160.68 per coin. Another major privacy token, zcash (ZEC), was valued at $45.67 per coin ten months earlier, but it has since decreased to $28.92. Dash (DASH), ranking third in the privacy coin market, had a value of $50.66 per unit back then, and today it's $30 per coin.
Google Trends data further reveals that interest in 'privacy coins' was already notable even before Bitcoin was launched by Satoshi Nakamoto, pe...
|XRP Shines Bright: 14% Weekly Gains And New Highs After August Dip
XRP has demonstrated its resilience in the volatile world of digital assets. This week, XRP investors and enthusiasts have ample reasons to celebrate as the coin saw an impressive surge of 14.2% in its price over the past seven days, bringing it to a notable high after its last dip in August.
This remarkable surge highlights the cryptocurrency's ability to experience significant price movements within a relatively short timeframe. The upward trajectory of XRP's price over the past week suggests an increase in investor interest or positive market sentiment, which has driven its value to levels higher than what was observed just seven days ago. At the time of writing, XRP is trading at $0.559841, with a modest 0.2% loss over the past 24 hours.
One of the most significant indicators of XRP's current performance is the overwhelming interest from buyers rather than sellers. The Volume Delta metric cited in a price analysis in highlights this trend vividly.
Volume Delta essentially measures the difference between buying and selling pressure in the market, serving as a valuable gauge for traders seeking to make informed decisions. In the case of XRP, this metric is painting a positive picture as buying sentiment dominates, giving traders the confidence to enter long positions.
This surge in buying interest suggests that investors have renewed faith in the coin's potential, as the coin has rebounded from the lows witnessed in the past. With growing adoption and an increasing n...
|XRP Price Prediction – Bulls Could Take Advantage Of Price Dip To ...
XRP price is correcting gains from the $0.585 resistance against the US Dollar. The bulls are active near $0.550 and might soon initiate a new rally.
XRP started a strong increase above the $0.55 resistance. The price is now trading above $0.525 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.5520 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might correct further lower, but the bulls could remain active near $0.5320. XRP Price Holds Ground
After forming a base above the $0.478 level, XRP started a fresh increase. The recent pump in Bitcoin and Ethereum also dragged XRP higher. The price gained pace after it broke the $0.525 resistance.
There was a move above the $0.550 and $0.565 resistance levels. Finally, it traded to a new multi-week high at $0.5859. Recently, there was a downside correction below the $0.575 level. The price declined below the 23.6% Fib retracement level of the upward move from the $0.4778 swing low to the $0.5859 high.
The price is now trading above $0.525 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.5520 on the 4-hour chart of the XRP/USD pair.
Source: XRPUSD on TradingView.com
On the upside, immediate resistance is near the $0.563 level. A close above the $0.563 level could send the price toward the $0.585 resistance. If the bulls remain in action above the $0.585 resistance level, there could b...
|XRP Price Could Get A Boost, Dip In This Bitcoin Metric Suggests New Ral...
The XRP price continues to trade sideways on low timeframes as the crypto market faces a spike in selling pressure. While major cryptocurrencies will likely bleed into critical support, one analyst believes there is hope for the XRP Ledger native token.
As of this writing, the XRP price trades below the critical psychological level of around $0.5 and stands at $0.47 with a 2% loss in the last 24 hours. Over the previous week, XRP was one of the worst performers, recording a 9% loss.
Bitcoin Dominance Declines, XRP Price Will Come Out On Top? A pseudonym analyst on social media platform X recently shared a chart showing a decline in Bitcoin Dominance (BTC.D). This metric measures the amount of the total crypto market capitalization represented by BTC.
When the Bitcoin Dominance declines, the altcoin sector benefits as the metric suggests investors could move away from the number one crypto into other assets. The analyst indicated that the BTC.D stands at a critical level, facing substantial resistance.
In that sense, the metric could return below 50% of the total crypto market cap. The last time the BTC.D stood at current levels, the XRP price rallied above two major obstacles at $0.60 and then at $0.70. The analyst stated:
$BTC.D Got to the level where the $XRP Lawsuit win news came out. This caused a big altcoin rally at the time and also marked the 2023 top so far for $BTC and many other coins.
Altcoin Season Looming? But Something Needs To Get Out Of The Way
|Bitcoin & Ethereum Prices Dip as Market Turns Bearish, While Bitcoin BSC...
It's been a difficult 24 hours for Bitcoin (BTC) and Ethereum (ETH) investors, with both cryptocurrencies experiencing corrections.
Bitcoin's value has declined by over 2%, while Ethereum's price has dropped by 1.30%, as crypto investors become increasingly uncertain about the market's future.
However, the new stake-to-earn project Bitcoin BSC (BTCBSC) is still making headway despite the bearish conditions – and is nearing the $5 million milestone in its ongoing presale phase.
Bitcoin & Ethereum Face Downtrend as Key Indicators Turn Bearish
At the time of writing, BTC is hovering around the $26,150 level, having closed in the red during five of the last six days.
BTC's price has fallen below the 20-day and 50-day Exponential Moving Averages (EMAs) during this bearish period after briefly breaching them earlier in September.
More worryingly for investors, Bitcoin has created a lower-high on the daily chart – which often indicates the beginning of a downtrend.
Meanwhile, Ethereum’s price has also taken a hit, falling to $1,570 over the past 24 hours.
Like Bitcoin, Ethereum has struggled to maintain any positive momentum, breaching its 20-day EMA to the downside.
The world’s second-largest cryptocurrency has also shown a similar pattern of forming lower-highs on the daily chart, pointing towards further bearishness in the near term.
Global Crypto Market Dips After Hawkish Fed Statement
According to CoinMarketCap, the global cryptocurrency market cap has ...
|Dogecoin Price Outlook: Could We See A 10% Dip Due To Supply Pressure?
Dogecoin (DOGE) has found itself caught in a tug-of-war between buying pressures and bearish sentiment, leaving investors and enthusiasts wondering about the coin's future direction.
A sudden dip in DOGE's price sent shockwaves through the market, breaking a pivotal support trendline that had historically bolstered the coin's recovery phases. This breach raised concerns of a continued decline, but recent developments suggest that the meme-inspired cryptocurrency may be gearing up for a fresh rally.
One glimmer of hope for DOGE came in the form of newfound support at the $0.06 price level. This development, combined with the broader market's bullish sentiment, contributed to a modest recovery earlier today.
However, it's important to note that the price has since experienced some corrections, highlighting the ongoing volatility in the cryptocurrency space. At the time of writing, DOGE is trading at $0.061802 on CoinGecko, reflecting a 1.0% decline in the past 24 hours and a 0.6% loss over the past week.
DOGE’s Bearish Threat Looms
Despite the recent positive movement, DOGE remains vulnerable to potential bearish pressures. If bears manage to establish dominance around the overhead trendline, particularly at the $0.064 price level, the meme coin may face renewed selling pressure. In such a scenario, a decline of 10-12% could be on the horizon, potentially pushing DOGE prices toward the $0.057 region.
Meanwhile, in a surprising turn of events over the ...
|Fourth Consecutive Week of Decline: NFT Sales Dip 6.75%
Non-fungible token (NFT) sales took yet another dip this week, marking the fourth consecutive week of decline, albeit a slight one, with a decrease of 6.75%. From September 2, 2023, to September 9, the total sales for this week amounted to approximately $80.69 million, with a notable chunk of $42.61 million originating from the Ethereum blockchain.NFT Sales Drop 6.75% in Weekly Decline
NFT sales took a 6.75% dip this week, as reported by data from cryptoslam.io. Over the past seven days, NFT transactions also slid by 4.33%. Despite this decline in sales, the number of NFT buyers surged to 569,407, marking a 17.77% increase compared to the previous week.
Presently, Ethereum leads the pack among 22 different blockchain networks, accounting for $42.61 million in NFT sales, which represents 52.80% of the market share. Following Ethereum, we find Mythos, Polygon, Solana, and Immutable X, completing the top five blockchains in terms of NFT sales.
Although ETH-based NFT sales were at the forefront, they still experienced a 12.11% decrease, while Mythos sales soared by 25.27% compared to the previous week. Polygon witnessed a 7.21% increase in sales, while Solana NFT sales dipped by 5.58% during the same period. Immutable X, on the other hand, faced the steepest decline, with sales dropping by 17.52% from the previous week's figures.
Among the 22 blockchains, Cronos emerged as the standout performer with a notable 24.22% increase in sales for the week. Mythos' Dmarket emerged as the...
|Shiba Inu Latest Dip – A Bullish Opportunity In Disguise?
Shiba Inu (SHIB) has been making headlines once again, but this time for all the wrong reasons. The popular meme token has been under sustained selling pressure, leading to a significant crack in a critical support level.
Despite the recent launch of Shibarium, a blockchain platform aimed at enhancing the SHIB ecosystem, the bearish sentiment seems to have a firm grip on the token's price chart, raising concerns about the long-term outlook.
The crack in SHIB's armor became evident as it breached the crucial $0.00000807 support level, resulting in a 7.3% decline in its price over the past seven days. Currently, SHIB is trading at $0.00000764, as reported by CoinGecko, with a modest 1.5% gain in the last 24 hours. However, these numbers only tell part of the story.
Shiba Inu’s Bearish Indicators Abound
A deeper dive into the technical indicators as revealed in a recent report reveals a grim picture for SHIB. The Chaikin Money Flow (CMF) has seen a substantial decline, resting at the zero mark as of press time.
This signifies a lack of buying pressure and strong capital outflows. Moreover, the Relative Strength Index (RSI) remains in a downtrend, hovering just above the oversold zone, highlighting the absence of demand for SHIB.
Intriguingly, the report also points out that the levels at which bears could potentially profit might serve as a price reversal zone for bulls, drawing parallels with price action observed in early June. However, the 24-hour liquidation ...
|Stellar Tough Spot: Will XLM Prices See A Dip Amid Mid-Range Struggles?
Stellar (XLM) investors were in for a surprise over the weekend as the cryptocurrency staged a remarkable comeback, defying the prevailing bearish trend across the crypto market.
The token's price surged by 7.3% in the past 24 hours and recorded a 2.3% increase over the past week, now resting at $0.122461 according to CoinGecko.
While cryptocurrency enthusiasts are rejoicing over the impressive price performance, the question that lingers on everyone's mind is: why did Stellar's price jump during the weekend? Two plausible explanations have emerged.
XLM Surge Potential Triggers
One likely catalyst for the sudden Stellar surge is the tantalizing tease from its developers regarding an important announcement scheduled for next week. This cryptic hint has stirred anticipation and speculation in the crypto community, with investors eagerly awaiting what could be a game-changing revelation for Stellar.
Something cool is dropping in 10 days.
Get ready to gear up for a change that's got us all excited. Stay curious pic.twitter.com/CgNzfzwqmc
— Stellar (@StellarOrg) September 2, 2023
Another factor that might have contributed to the bullish sentiment around Stellar is the upcoming Meridian event set to be hosted by the blockchain platform later this month in Spain.
Meridian, known as Stellar's flagship annual event, is expected to bring together a multitude of influential speakers from the blockchain and cryptocurrency space. Their speeches and insights have the po...
|Bitcoin Rollercoaster: Analyst Forecasts $8,000 Dip Before Skyrocketing ...
In his recent interview, Mike McGlone, Bloomberg Intelligence's Senior Commodity Strategist, predicted Bitcoin's potential fall amid the ongoing market downturn. However, it wasn't all gloom from the seasoned analyst, as he also touched upon the longer-term prospects of the flagship cryptocurrency.
Will Bitcoin Touch $8,000? It is worth noting that Bitcoin has undergone a fair share of price fluctuations since its inception. In the interview, McGlone compared Bitcoin's volatile nature to the days of the stock market. His predictions, grounded in his analytical observations, also prompted apprehension and agreement.
Mike McGlone's interview was rife with insights into the cryptocurrency market, but one statement stood out: his belief that Bitcoin could plunge to a low of $8,000 in the current bear market.
McGlone emphasized that despite the potential for such a drastic drop. Bitcoin remains the world's top-performing asset. McGlone stated that Bitcoin hasn’t exhibited deflationary characteristics like Treasury bills and gold.
Instead, he pointed out that macroeconomic elements, particularly the Federal Reserve’s ongoing tightening policies, continue to have a pronounced effect on Bitcoin’s price.
Institutional Influence: Not the Immediate Boost Many Anticipate? Another popular belief within the crypto community is that spot ETF approvals, and an influx of institutional investors would catapult Bitcoin's price to new heights.