|All Time High:|
|Market Cap: |
|The price of #KEEP today is $0.13 USD.|
The lowest KEEP price for this period was $0, the highest was $0.126, and the current live price for one KEEP coin is $0.12590.
The all-time high KEEP coin price was $2.38.
Use our custom price calculator to see the hypothetical price of KEEP with market cap of BTC or other crypto coins.
|The code for Keep Network is #KEEP. |
Keep Network is 3.5 years old.
|The current market capitalization for Keep Network is $119,242,045.|
Keep Network is ranking upwards to #222 out of all coins, by market cap (and other factors).
|There is a modest daily trading volume on #KEEP.|
Today's 24-hour trading volume across all exchanges for Keep Network is $90,154.
|The circulating supply of KEEP is 947,116,182 coins, which is 95% of the total coin supply.|
A Provisional Timeline for the Threshold Merger
We shared some important updates on the latest Threshold Wide Community Call; not only the new Threshold branding and visual identity, the formation of Threshold Community Guilds to be formed by community members committed to providing contributions in a variety of areas, but also the hotly anticipated provisional merge timeline for the upcoming Threshold launch. Key milestones are already underway, including security audits and completed community snapshots for the Reward Mechanism. ChainSecurity and Certik, who are reviewing our smart contracts, are some of the leading auditors in the space.Threshold Provisional Merger Timeline Our next steps are all about the DAO and Multi-sig Council. From mid-November to December, we will be doing everything from holding Council Elections to allocating rewards to apps. We will also be implementing NuCypher and Threshold DAO proposals such as halting NU inflation and minting the First Reward Batch. These are the result of our community-directed approach to this process. At the same time, the team will be taking care of important technical developments such as deploying and activating the smart contracts that will complete the merger. These include the Governance Contract, Vending Machine Contract, and the Staking Contract. Once these are live, we will be ready for the Staking Rewards and funding of Threshold-only Coverage Pools that will complete the process by the end of December. Get ...
The mStable Community Votes for tBTC v2
We’re excited to announce that the mStable community has voted 100% “yes” to support tBTC v2. Users on the decentralized, community driven ecosystem will get to participate in the construction of a truly trustless and scalable BTC bridge. The integration will include the creation of a new tBTC v2 Feeder Pool with incentives from the tBTC v1 Feeder Pool switching over to the new one. Likewise, the Threshold community will explore adding extra incentives to the pool. When the DAO launches, it will hold 10% of the total supply in its treasury which can be used at the discretion of the community. This process has been an excellent example of a DAO based community-to-community collaboration: First, Will Rhodes and Eastban from the Threshold community worked with dimsome, derc and 0xPenguin0x from mStable to create a temperature check post on the mStable forum. The post received enough positive support from the community to be moved to a ProtocolDAO ratification vote. Then, a second proposal was created. The ProtocolDAO voted in favor of the proposal at which point dimsome was invited to speak about mStable and the potential of this integration at the Threshold community call. Finally, the proposal was put up to a mStable community snapshot where it passed with overwhelming support. This completed an organic, community-driven integration process that showcased the possibilities opened by a collaboration between two DAOs . Bo...
Announcing Lower C-ratios tBTC
Good news! We’ll be lowering tBTC Collateral Ratios and turning on Risk Manager in Coverage Pools. The decision was made after important input from the community and an arrival at the following consensus: 150% — mint 105% — courtesy call 101% — liquidation In the design of tBTC v1, the notifier of the courtesy call receives half of the left over ETH bonds. For this reason we want the liquidation starting point to be as low as possible. As the auction runs for 24hrs and starts by auctioning off two thirds of the bond, there is a risk that the auction will never be profitable to take. The coverage pool then acts as a buyer of last resort for the auctions. For this reason the Coverage Pool is also being turned on in conjunction with the changes in C-ratio levels.History When tBTC v1 launched the initial collateralization ratios were: 150% — mint 125% — courtesy call 110% — liquidation These were adjusted to reduce the number of liquidations from the ETH / BTC volatility and to reduce the level of active monitoring and costs of redeeming keeps that was required by node operators. Community members Naxsun and Corollari did some modelling and proposed a voting methodology in the forums on how to approach this. The topic was then discussed in Discord and voted on in two votes by node operators: One vote to change the starting collateralization ratio and a second vote to change the courtesy ca...
tBTC v2: a Censorship-resistant BTC Bridge at 100x Scale
A closer look at tBTC v2, what it means for the bitcoin community, and the roadmap for release.. — In a Nutshell: tBTC v2tBTC v2 will be able to scale 100x from today’s v1, from 1,000 BTC to 100,000 BTC (1% of total supply).tBTC v2 enables scale by more effectively deploying capital for securing BTC.The tBTC v2 token is live, and can be minted by anyone holding tBTC v1. LP incentives are live now for v2 holders.The tBTC v2 Bridge is estimated to go live near the end of this year, which will unlock direct minting of v2, deploy Coverage Pools as insurance, and launch an API to deliver truly decentralized BTC to Ethereum financial applications. tBTC v2 has a singular purpose: to extend the censorship resistant properties of Bitcoin onto every network that can interoperate with Ethereum.Vision of tBTC The vision for tBTC is to facilitate an interoperable Web3 future by solving the most untapped liquidity and yield opportunity in DeFi: BTC. BTC holders can be wary of Ethereum’s DeFi ecosystem, preferring to keep their assets secure on Bitcoin’s censorship-resistant network. Bridges expose BTC holders to considerable risks, asking them to commit their funds to an intermediary that does not mirror the same censorship-resistance of Bitcoin. tBTC has been built with security and decentralization at the forefront, offering BTC holders the only truly trustless Ethereum bridge solution that eliminates intermediary risk. ...
Real Decentralization = Math
The First Rule of DeFi. — Don’t accept centralized solutions to decentralized problems. That’s the first rule of DeFi. We know DEXs are better than CEXs. That more nodes are better than less. And that liquidity is populist game. It’s counterintuitive and counterproductive to engage with cryptocurrency and decentralized networks through centralized platforms. It’s more than an abstract philosophy. The imperative for decentralization has foundational tangible impact. Hardware can be hacked. People make mistakes, go rogue, and their incentives trend towards misalignment. So when it comes to crypto bridges — bringing Bitcoin into DeFi, connecting the emerging world of digital assets — why are we putting up with platforms saddled with centralized baggage? A quick tour of the centralized crypto bridge landscape: Ren uses specialized, proprietary hardware to produce RenBTC. The Ren apparatus is managed by a centralized group of decision makers that can decide to make any number of unilateral decisions. For example, selling the company to venture capital firms like FTX or Alameda — which is exactly what has happened. A platform beholden to the profit models of venture capital will very easily find its incentives misaligned from its users. WBTC is an organization run by people who mint and unmint BTC. Everything passes through this organization of people. People are fallible, they can be corrupted or i...
Exploring the Relationship Between Thesis and Keep
Just as Keep Network has been evolving in recent months with its progression to v2, the community-driven KEANU merge with NuCypher, and the forthcoming launch of the T Network, Thesis is always pushing to create new products that fit our mission of decentralization, sovereignty, privacy, and freedom. Thesis is a venture studio — we ship a lot of products. That’s part of the mission. Before Keep, we shipped Fold, and then Saddle. Now we’re working on Tally, an open source, community-governed Web3 wallet. It will present a huge compliment to Threshold. Even as Thesis grows, Keep represents the largest and primary project in terms of focus, head count, and expenditure in the Thesis portfolio. With the KEANU merge with NuCypher and the ensuing launch of the Threshold Network, this fact will undoubtedly remain. Thesis has a rising tide, and Keep is one of our biggest boats. In regards to alignment, the entire Keep dev team have been compensated in KEEP, that’s locked up at minimum until May 2022 — and much longer for many of us. Thesis’ largest asset holding is KEEP, and the entire Thesis mission is aligned behind the success of the platform and its evolution. Interested in what we’re building at Keep? Drop in and join our community on Discord at chat.keep.network. Exploring the Relationship Between Thesis and Keep was originally published in Keep Network on Medium, where people are continuing the conversati...
Keep Proposal Overview: Shifting Incentives towards Coverage Pools and TBTC v2
A proposal titled “Shifting incentives towards TBTC v2 and Coverage Pools’ was recently introduced by Keep Network community member Ben Longstaff. The proposal addressed a need to adapt the current incentives in Keep Coverage Pools to provide greater adoption to TBTC 2 through the bridge transition between TBTC v1 and TBTC v2. This is to ensure that incentives are aligned with the launches and needs of the protocol as it transitions to TBTC v2. After community discussion and calls, a second version of the proposal with one amendment in regards to the allocation of liquidity to the pool of TBTC/ETH was then introduced by Evandro Saturnino and voted on successfully by the Keep community. Now, the community has voted to move incentives toward tBTC v2 and coverage pools. This means that rewards allocations are changing, and the update represents a major community-driven step towards Keep Network v2. The proposal’s main intentions:Launch a v2 TBTC token so we can begin working on integrations with major networksAllow for a graceful unwinding of the tBTC v1 bridge when the tBTC v2 bridge is launchedChange liquidity incentives so we can reward behavior that we need for the new network and bridgeTransition the v1 tBTC bridge to be secured by our KEEP-only Coverage Pool. Below is an excerpt of the first proposal “Shifting incentives towards tBTC v2 and Coverage Pools” about how the bridge will work and what the next ste...
Keep Network 2021 Roadmap
Threshold Network, Keep v2, and the New tBTC. — Keep Network is currently in a period of fundamental growth, development, and change. Our mission is to provide secure and equitable access to censorship-resistant assets across all major blockchains. With our upgraded protocol, v2 tBTC, we’ll become the most trusted network for bridging non-custodial Bitcoin into lending, borrowing, and saving services and platforms across the Ethereum DeFi ecosystem. Through all of this, Keep retains an unwavering focus to creating uncompromising decentralized solutions driven by our incredible community first and foremost. The roadmap for achieving this in 2021 hinges upon a number of concurrent development streams. First, the KEANU hard merge will bring together the Keep Network and NuCypher platforms and communities into what will be called Threshold Network. The process of bringing this unprecedented union to fruition has been a revelation, not only for our respective communities and teams, but for the whole blockchain industry. The KEANU process and the resulting Threshold Network are proving that cooperation and decentralization are possible in a competitive market, and the resulting merged product will strengthen the utility and resiliency of both platforms, while creating an anchor in the sector of private, cross-chain value bridges supported by threshold cryptography. After months of community collaboration and development, th...
Announcing Keep’s Refreshed Website
Updating our website to better serve our mission of transparency. The Keep platform and community have evolved. It’s time for a new home on the web to match the progression of the Keep protocol and our community. Because one of our core principles is transparency, we updated the website so it’s easier to learn about and get involved with Keep. We listened to your input and structured the new website to be a more helpful resource for both our current users and new ones.The one-stop resource for all things Keep We learned from our community reviewers that a user insight was: “I don’t know where to find documentation!” Yep, we fixed that. Now, you’ll find important resources and guides compiled on the website. If you want to learn more about staking, head to the Stake section. If you want to learn more about the community, head to the Join section.The new Home and Join pages on the Keep website Want to build with Keep styles? Now you can find links to the Keep community design system on the website. It’s a Figma file built by the community for design consistency across community-built tools. Another user stated, “I think it’s important to know ‘who is the team?’ and ‘who invested in this project?’” Also curious about the #BigBrains behind Keep? We now have a section dedicated entirely to the team.The new Team and FAQ pages on the Keep website Another user request was, “How many audits has the ...
KEEP is Now Available to Trade on Coinbase and Binance
As of June 17th, KEEP is available for trading on Coinbase and Binance.. — The Keep network is a decentralized threshold cryptography platform. KEEP stakers run the network, operating trust-minimized bridges like tBTC. Exposure to a wider market of potential stakers via Coinbase and Binance will only serve to further Keep’s mission of decentralized private computation across the crypto ecosystem. As of June 17th, KEEP is available for trading on Coinbase and Binance. Via Coinbase: “Starting today, Keep Network (KEEP) is available on Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store KEEP in most Coinbase-supported regions. Trading for KEEP is also supported on Coinbase Pro. Via Binance: “Binance will list Keep Network (KEEP) and open trading for KEEP/BTC, KEEP/BNB, KEEP/BUSD and KEEP/USDT” Join our Discord if you’d like to learn more or get involved in Keep Network governance discussions. KEEP is Now Available to Trade on Coinbase and Binance was originally published in Keep Network on Medium, where people are continuing the conversation by highlighting and responding to this story.
More Keep Network (#KEEP) News
|Ethereum Bears Keep Pressing, Why ETH Price Might Revisit This Key Suppo...
Ethereum price is moving lower from $2,130. ETH is showing a few bearish signs and might decline toward the $1,920 support zone.
Ethereum is slowly moving lower below the $2,060 zone. The price is trading below $2,060 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,040 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down toward the $1,920 support zone. Ethereum Price Extends Decline
Ethereum price started a fresh decline after it struggled near $2,130. ETH formed a high at $2,132 and started a downward movement. There was a move below the $2,100 and $2,080 levels, like Bitcoin.
The price even spiked below the $2,000 support. A low was formed near $1,986 and the price is now consolidating losses. There was a minor recovery wave above the $2,020 level. Ether climbed above the 23.6% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low.
Ethereum is now trading below $2,060 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,040 zone. There is also a major bearish trend line forming with resistance near $2,040 on the hourly chart of ETH/USD.
The first key resistance is near the $2,060 level or the 50% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low. The next resistance sits at $2,100. A clear move above the $2,100 level could send the price toward the $2,135 resis...
|US Prosecutors Urge Court to Keep Binance's Ex-CEO in the Country Amid F...
In the wake of the settlement between the U.S. Department of Justice and Binance, the world's largest crypto exchange, federal authorities are insisting that the exchange's former CEO, Changpeng Zhao (CZ), remain stateside until his sentencing in February 2024.Justice Department Seeks to Restrict Ex-Binance CEO's Travel Before Sentencing
A recent court filing reveals that U.S. prosecutors have petitioned Magistrate Judge Brian Tsuchida to ensure Changpeng Zhao's (CZ) continued presence in the U.S. This request, lodged on Wednesday, aims to reassess the bond conditions set on November 21, 2023. The U.S. government articulates concerns about CZ being a “substantial risk of flight.”
The filed document explicitly states:
[The Government] requests that the court order that Zhao should not be permitted to return to the UAE before sentencing.
Currently residing in Dubai, United Arab Emirates (UAE), CZ lives with his three children and partner. The prosecutors argue that the prospect of an 18-month jail term might tempt CZ to remain in the UAE with his family. The lack of an extradition treaty between the UAE and the U.S. complicates matters, making it challenging to secure his return in case of non-compliance with court directives.
Despite an initial agreement on a $175 million bail bond, prosecutors are now questioning its sufficiency. Under the proposed arrangement, “three responsible persons” were to secure $15 million in cash for the bail. While CZ faces ...
|US Senator Ted Budd Introduces Keep Your Coins Act
In a move aimed at preserving the autonomy of cryptocurrency users and safeguarding their ability to self-custody digital assets, U.S. Senator Ted Budd (R-NC) has introduced the Keep Your Coins Act.
This legislative proposal, which came after last year's FTX exchange collapse, seeks to protect individuals' rights to conduct cryptocurrency transactions without relying on third-party intermediaries.
Senator Ted Budd’s Keep Your Coins Act
U.S. Senator Ted Budd announced on November 7 the introduction of the Keep Your Coins Act. This legislation aims to protect individuals' rights to self-custody Bitcoin and other cryptocurrencies, effectively allowing them to conduct transactions without needing third-party intermediaries. This development comes after last year's FTX exchange collapse, which exposed vulnerabilities in centralized custody systems.
If passed into law, the legislation would empower cryptocurrency users by allowing them to maintain custody of their digital assets in self-hosted wallets. It prohibits any federal agency from proposing rules that hinder an individual's capacity to act as a self-custodian of digital assets.
Senator Budd emphasized the importance of this legislation, stating, 'As consumers face new challenges and risks associated with the use of digital currencies, we should be empowering individuals to maintain control over their own digital assets. This approach will foster financial freedom and a more decentralized cryptocurrency ecosystem.'
|Bitcoin Predictions To Keep An Eye On As Price Reclaims $34,000
Bitcoin has once again reclaimed $34,000 even as the euphoria around the possibility of a Spot Bitcoin ETF being approved soon. Following this, there is the need to look at the predictions of certain analysts who have weighed on the future trajectory of the flagship cryptocurrency from its current price action.
Where Is Bitcoin Headed From $34,000? In a post shared on his X (formerly Twitter) platform, the CEO and Founder of trading platform MN Trading, Michaël van de Poppe, stated that the crypto was fighting $34,700 as resistance and that if it were to break out from that level, the crypto token could rise to as high as $37,000 to $38,000.
Still interesting to keep an eye on #Bitcoin.
Fighting $34.7K as resistance, through which a breakout there should lead to $37-38K.
On the other hand, areas between $32.6-33.1K, if we get there, areas of longing.
Corrections are usually quite swift in upwards trends. pic.twitter.com/DTOYcoCQIK
— Michaël van de Poppe (@CryptoMichNL) October 26, 2023
He also seemed to suggest that $32,600 and $33,100 were key support levels to keep an eye on as he labeled them “areas of longing.” Another crypto analyst, CryptoTony, projects that Bitcoin could still spike up to $36,000 before “rejecting and letting the range begin.”
$BTC / $USD - Update
Still looking for that spike up to $36,000 before rejecting and letting the range begin. I will be long while we are above $30,000 personally...
|Chainlink Whales Keep Stacking LINK as Network Activity Soars to 3-Month...
Chainlink (LINK) surged more than 43% over the past month, charting a multi-month peak.
Amid a broader market rebound, LINK demonstrated remarkable strength. It stood out as a notable performer among the top altcoins, leading an explosive rally beyond a level seen over a year ago.
Chainlink Whales on Accumulation Spree
In early September, Chainlink established a bottom and ignited a substantial rally, which is currently in progress. There were indications of significant accumulation by large investors prior to this uptrend. Interestingly, even as this rally extends, these investors continue to acquire LINK tokens.
According to Santiment's latest analysis, Chainlink whales have continued to stack LINK to their holdings. The network reached its highest levels in whale transactions, unique interacting addresses, and trading volume in the past three months.
#Chainlink is on a tear this weekend, with the network seeing 3-month highs in whale transactions, unique interacting addresses, and trading volume. #Altcoins have been benefiting from $BTC redistribution, but $LINK has been a particular standout. https://t.co/lxlb8SmzKL pic.twitter.com/Yaw5qyV8jL
— Santiment (@santimentfeed) October 22, 2023
While several altcoins have been benefiting from Bitcoin redistribution, LINK has been a particular standout. The crypto analytic platform's data suggest that the network experienced a notable surge in activity, particularly on October 21st when the LINK token recorded more than ...
|Bitcoin Maintains $28K But These Altcoins Keep Losing Value (Market Watc...
Bitcoin's attempt to overcome the $29,000 level yesterday saw no success, and the asset has lost some ground but still stands above $28,000.
The altcoins have turned red on a daily scale now. The only exceptions from the larger ones are LEO, UNI, and MNT.
BTC Fails at $29K
The start of the business week was quite positive for the primary cryptocurrency, which pumped by around a grand on Monday morning after a sluggish weekend. Furthermore, one of the most notable price pumps in months came later that day amid false reports claiming that the US SEC had finally approved a spot Bitcoin ETF.
The asset reacted with an instant $2,000 surge that drove it to a 2-month peak at around $30,000. As the reports were denied, though, BTC started losing value just as rapidly and went back down to $28,000.
The bulls tried to initiate a few more price pumps the following days, which culminated in another challenge of $29,000 yesterday. However, the cryptocurrency failed to overcome that level and has lost several hundred dollars since then.
As of now, BTC trades just inches above $28,000, but its market capitalization has remained north of $550 billion. Its dominance over the altcoins is still riding high at over 51% on CMC.
BTCUSD. Source: TradingView
Alts in Red
Most alternative coins mimicked BTC's pump and dump following the fake reports but are now trading in the red.
Ethereum went to almost $1,700 but struggles to remain above $1,550 as of now, following another 1.3% daily drop. Binance ...
|Dukascopy Unveils Crypto Lending: Access Cash, Keep Assets
[PRESS RELEASE - Geneva, Switzerland, October 16th, 2023]
Dukascopy Bank, a financial leader in banking and investing is introducing its pioneering crypto lending program. This new service allows people who own cryptocurrencies to quickly get cash without giving up their cryptocurrency investments. With Dukascopy's crypto lending program, users can tap into 50% of their crypto assets' value without any repayment commitments.
Step-by-step instructions to getting instant cash access, while keeping investments:
Open a Multi-Currency Bank Account (MCA): Clients should start by setting up a multi-currency bank account with Dukascopy. This account will act as their central hub for crypto lending.
Simple Cryptocurrency Transfer: Clients can effortlessly transfer their cryptocurrency holdings from their blockchain wallet to the Dukascopy MCA.
Protect Your Investment: Clients are advised to navigate to the 'Investment' section of the MCA and select the 'Crypto lending/borrowing' option.
Complete the Trading Agreement: After selecting this option, clients will receive an email containing login details for their trading subaccount.
Access Your Funds: The client's crypto investment is converted into regular currency. Half of it remains in the MCA, while the other half is transferred to the trading sub-account as collateral. This also opens a position that corresponds to the initial crypto investment. This process provides a seamless transition of digital assets from the blockchain to th...
|Amidst Controversy, Telegram Will Keep Hamas' Channels Open
Pavel Durov, founder and CEO of Telegram, has explained that Hamas' communication channel in the application will keep operating. Durov's statements come after Telegram faced widespread backlash for allowing the Palestinian group to keep posting war-related content on its network. Durov explained that shutting down this comms channel 'risks exacerbating an already dire situation.'
Telegram CEO Makes the Case for Keeping Hamas' Channels Operating
Telegram, the messaging platform, is in the media spotlight due to its utilization by Hamas, the Palestinian organization, to post violent war-related content. According to reports, Hamas' official channel in the app has published more than 125 videos documenting its attack on Israel, prompting mainstream media sources and activists to call out Telegram for allowing this kind of content to be hosted on its platform.
Yasmin Green, CEO of Jigsaw, a Google-owned organization that 'explores threats to open societies,' told CNBC that she was afraid this kind of content could bring Hamas' followers to organize and set up more violent acts. Rolling Stones also denounces that Telegram is being used as a hub for unverified information that gets leaked to X (formerly known as Twitter), with the two platforms constituting a disinformation duet.
While X is taking a more active approach, having removed war-related posts while facing a probe from the European Union (EU), Telegram has taken a different approach.
Durov: Closing Hamas' Channels...
|These Two Groups of Ripple Holders Hold Billions of XRP and Keep Buying:...
Large XRP wallets increased their holdings to $7.9 billion from $7.16 billion in October 2022.
Accumulation spiked after major crypto events, including the FTX meltdown and Terra's LUNA and UST collapse.
A positive outcome for Ripple against the US SEC could boost XRP's price in 2024, alongside other favorable market factors.
Buying XRP Amid the Reigning Uncertainty
As revealed by the crypto behavior platform Santiment, wallets holding between 100K and 100M XRP have been on the rise over the past year.
Such sharks and whales currently own almost $7.9 billion worth of the asset, representing 26.8% of the circulating supply. In comparison, the same investors held $7.16 billion in XRP in October 2022.
#XRPLedger is seeing less whale activity this year compared to 2021 & 2022. However, this hasn't stopped the key shark & whale addresses from accumulating more of the supply. Wallets with 100K-100M $XRP hold $7.89B in coins vs. $7.16B a year ago. https://t.co/NMnrTCTMUw pic.twitter.com/DSShcoFa8G
— Santiment (@santimentfeed) October 9, 2023
Some might assume that investors started purchasing amounts of the coin en masse in July this year when Ripple won its first major victory in the lengthy lawsuit against the United States Securities and Exchange Commission (SEC).
However, Santiment's chart shows that the accumulation spree was on its rise in November last year. Back then, the cryptocurrency industry witnessed one of its darkest events - the meltdown...
|Good Bitcoin News: Supply Keeps Falling To Lowest Since 2018 As Whales K...
Bitcoin news for traders and investors is showing positive signs as the cryptocurrency managed to stay above critical levels. The current trading environment remains uncertain as sideways price action persists, but new data points to potential gains.
As of this writing, Bitcoin trades at $27,700 with sideways movement in the last 24 hours. On higher timeframes, the cryptocurrency records profits; the previous week, BTC experienced a 4.4% rally, according to data from Coingecko.
Bitcoin News And Data Point To Favorable Price Action? A report from Bitfinex Alpha indicates that the current Bitcoin supply on exchanges has been dropping since May 2023. This metric stands at its lowest in five years, or since 2018, when the price of Bitcoin was in the early stages of a new investment cycle.
The report indicates around 2.03 million BTC on crypto trading venues, as seen in the image below. The decline of BTC supply in the market represents good Bitcoin news due to its potential to ignite another bull market. The report claims:
As the bull market began to take off, reserves on exchanges dropped, as crypto prices soared. This seemed to imply that as investors moved their Bitcoin off exchanges, its scarcity on the platform might have driven its price up.
The chart above also shows that the cryptocurrency’s price reacts to spikes in BTC supply on crypto exchanges. Each bull market has its peculiarities, but they all need a decline in supply to enter price discovery.
|These Are The Altcoins To Keep An Eye On: Santiment
Data from Santiment shows that several altcoins have registered an increase in address activity, which may make them worth keeping an eye on.
Bitcoin Cash & Other Altcoins Have Observed A Rise In Active Addresses
As explained by the on-chain analytics firm Santiment in a new post on X, some alts are seeing rising activity despite the cooldown that the overall cryptocurrency sector has observed in the past couple of days.
The indicator of interest here is the 'daily active addresses,' which keeps track of the total number of unique addresses of any given coin that are interacting on the blockchain in some way every day. The metric accounts for both senders and receivers.
By 'unique,' what's meant here is that any address participating in transaction activity on the blockchain is only counted once, regardless of how many transfers it may be involved in.
This restriction helps provide a more accurate representation of the actual activity on the network, as just a few addresses making hundreds of transactions can't skew the metric by themselves.
When the value of the indicator is high, it means that there are a large number of unique addresses taking part in transaction activity right now. Such a trend implies the blockchain is receiving a high amount of traffic currently.
On the other hand, low values imply not many users are interacting with the network, a possible sign that interest in trading the cryptocurrency is low at the moment.
Now, here is a chart that shows the trend ...
|Crypto Watchlist For October: Altcoins To Keep On Your Radar
As the dynamic crypto landscape evolves, attention is turning not only to the giants but increasingly to emerging altcoins that show promise and innovation. October is shaping up to be a pivotal month for a select group of these altcoins, with potential frontrunners positioning themselves. Here are our top 4 altcoins for October.
Arbitrum (ARB) is thrust into the limelight as it inaugurates its Short Term Incentive Program (STIP), positioning 50 million ARB to be siphoned into protocols residing within its ecosystem. The maneuver is predictive of a substantial acceleration in liquidity, reminiscent of Optimism’s grant's influential impact which witnessed the Total Value Locked (TVL) catapulting from $300 million to $1 billion during its grant distribution period, as highlighted by DeFi researcher Thor Hartvigsen.
In total, over 105 applications have already been funneled into the Arbitrum STIP, predominantly from DeFi applications, and notably DEXes which are commandeering the dominant category followed by yield aggregators and lending markets.
At press time, ARB was trading at $0.9295 after the price was rejected at the 38.2% Fibonacci retracement level ($0.9721). A break above this resistance is crucial. In particular, it is important for ARB not to fall below the descending trendline (black) again, which was breached on Sunday.
Hartvigsen emphasized the potential he sees in SOL, noting, “Growing DeFi ecosystem and a very strong/voc...
|Bitcoin Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key
Bitcoin price attempted a fresh increase above the $26,500 resistance. However, BTC failed to settle above $26,700 and reacted to the downside.
Bitcoin is still struggling to clear $26,500 and $26,700. The price is trading above $26,200 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $26,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could again climb higher unless there is a close below $26,200 and $26,000. Bitcoin Price Faces Uphill Task
Bitcoin price started a decent recovery wave from the $26,000 support zone. BTC climbed higher above the $26,350 and $26,500 resistance levels.
The price even spiked above the $26,700 resistance. However, the bears defended more gains. A high was formed near $26,818 and there was a strong rejection pattern. The price trimmed all gains and declined below the $26,500 level.
It even dived below $26,200. A low is formed near $26,100 and the price is now attempting a fresh increase. Bitcoin is trading above $26,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support near $26,200 on the hourly chart of the BTC/USD pair.
Immediate resistance on the upside is near the $26,450 level. It is close to the 50% Fib retracement level of the downward move from the $26,818 swing high to the $26,100 low.
Source: BTCUSD on TradingView.com
The next key resistance could be near the $26,650 level or the 76.4% Fib ...
|Bitcoin, Ethereum Technical Analysis: BTC Bulls Keep Price Close to 2-We...
Bitcoin continued to trade close to a multi-week high on Friday, as bulls continued to target the $27,000 level. The move came following stronger than expected U.S. retail sales figures, which rose by 0.6% in August. Ethereum also traded higher in today's session.Bitcoin
Bitcoin remained near a two-week high on Friday, as traders continued to digest the latest US retail sales figures.
Following a low of $26,285.50 on Thursday, BTC/USD rallied to an intraday high of $26,774.62 earlier in today's session.
This peak saw bitcoin trade at its strongest point since August 31, when price peaked over the $27,500 mark.
Bitcoin chart by TradingView
Overall, it appears that today's bullish sentiment comes as the relative strength index (RSI) moved towards a ceiling of 52.00.
At the time of writing, price strength is tracking at 51.96, which has led some previous bulls to abandon their positions.
BTC has now retreated to a current level of $26,617.31, however traders will likely make another run towards $27,000 in the coming days.
Ethereum (ETH) rose for a fourth consecutive session, as the cryptocurrency remained above a support level of $1,620.
ETH/USD moved to a peak of $1,640.52 on Friday...
|Bitcoin Bulls Keep Pushing And Its Good Signs of A Fresh Rally
Bitcoin price is holding gains above the $26,200 zone. BTC seems to be forming a base for a fresh increase above $26,850 in the coming sessions.
Bitcoin is eyeing a key upside break above the $26,850 level. The price is trading above $26,100 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $26,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair seems to be setting up for a fresh rally above the $26,850 resistance. Bitcoin Price Could Rally Above $27K
Bitcoin price started a decent increase above the $26,000 resistance zone. BTC remained well-bid above the Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high.
There was a close above the $26,500 resistance zone. However, the bears seem to be protecting an upside break above the $26,850 resistance. The recent high was formed near $26,833 before there was another downside correction.
There was a move toward the 50% Fib retracement level of the recent increase from the $26,154 swing low to the $26,833 high. Bitcoin is now trading above $26,100 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $26,300 on the hourly chart of the BTC/USD pair.
Immediate resistance on the upside is near the $26,720 level. The first major resistance is near the $26,850 level. The next key resistance could be near the $27,200 level.
Source: BTCUSD on TradingView.com
A successful move...
|Bitcoin Shows Stability As Experts Expect FED to Keep Rates Unchanged, W...
Bitcoin is showing remarkable stability despite the hot inflation figures from the CPI released this week.
The data showed that inflation exceeded expectations as the ‘sticky’ inflation narrative continues to loom, even with interest rates set at the 5.25% - 5.5% range.
However, with inflation rising and further rate hikes expected later this year, Bitcoin is showing resilience as it clings to $26,000.
Meanwhile, a new Bitcoin-themed alternative is starting to turn heads from investors as it raises $1.75 million in just over a week - demonstrating the building hype for the newly emerging project.
Experts Predict US Federal Reserve to Keep Rates Unchanged in September
Bitcoin continues to show hints of stability as the risky asset faces potentially higher interest rates later this year.
The August Consumer Price Index (CPI) report showed a year-over-year (YoY) increase of 3.7% - 0.1% higher than expected.
The YoY figure showed an increase from June’s figure of 3.2%, hinting that inflation might be ‘sticky’ in the economy despite elevated interest rates.
However, the core CPI data, excluding energy volatility, noted a yearly increase of 4.3%, lower than the previous month’s 4.7%.
As a result, core CPI data is showing consistent declines since September 2022;
In light of this, experts from JP Morgan believe that the US Fed will hit its inflation target of 2% by late 2024 but doesn't expect any further interest rate hikes.
David Kelly continu...
|Presidential Candidate Ramaswamy Says Grayscale's Win 'Clears a Path to ...
The American entrepreneur Vivek Ramaswamy, who is one of the US Presidential nominees of the Republican Party, thinks Grayscale's court victory against the SEC is positive news that could keep Bitcoin and blockchain innovation within the States rather than see it relocate abroad.
The 38-year-old businessman has presented himself as a proponent of the primary cryptocurrency and a critic of the possible launch of a central bank digital currency (CBDC) in America.
Praising Grayscale's Triumph
Ramaswamy is another individual who highlighted this week's court decision that ruled that the SEC was wrong to refute Grayscale's ambitions to convert its Bitcoin Trust into a spot BTC ETF.
The US Presidential candidate described the lawsuit's outcome as a development that 'clears a path to keep Bitcoin and blockchain innovation in the US instead of overseas.'
He also thinks the 'shadow government' in Washington, DC, is 'out of control,' whereas the federal courts 'are our only remaining line of defense against the unlawful rogue behaviors of 3-letter government agencies.'
Vivek Ramaswamy, Source: Politico
Subsequently, Ramaswamy suggested that Grayscale's discontent with the SEC should have never emerged as a tribunal battle, vowing to void federal regulations that 'fail the Supreme Court’s test in West Virginia vs. EPA' should he win the Presidential elections.
His comments came as a quote to Kathryn Haun's tweet, which labeled the court decision ...
|Long-Term Bitcoin Holders Keep The Faith: 40% Supply Remains Untouched F...
A recent report from Bitfinex has shed light on a trend in the Bitcoin market. The report shows despite the unpredictability of the crypto market; long-term Bitcoin holders appear to be playing the patience game, signaling a buoyant outlook on the digital currency.
This resilience and sense of optimism come to the fore as Bitfinex's Alpha report reveals roughly 40% of Bitcoin's total supply has remained untouched for over three years, marking an all-time high.
Bitcoin Dormant Supply Hits Record Highs
The latest Bitfinex report illuminates that about 40% of Bitcoin's supply has not witnessed any movement for more than three years. Based on the Coin Days Destroyed metric, the findings further highlight that this portion of the BTC has remained inactive on-chain.
Analysts at Bitfinex, in a note, deduced that this pattern highlights a prevailing mood of confidence, hinting at possible stability in the face of usual market fluctuations. The analysts noted:
This behavior insinuates a broader sentiment of optimism and potential resilience against market volatilities.
It is worth noting that such a trend can be interpreted as a clear indication that long-term Bitcoin enthusiasts are maintaining a bullish perspective.
Contrasting Metrics: Narrower Timeframes Hint At Bearish Sentiments
While the three-year metric paints a promising picture of enduring confidence, the picture is slightly different when the lens narrows to a one-year timeframe. Within this shorter period, the inactive ...
|Only 2% of Russians Ready to Keep All Their Savings in Digital Ruble: Po...
While over half of Russians are willing to put some money into their nation’s digital ruble, only 2% say they would keep all their savings in it. Insufficient information and fear of system failures are among the biggest factors turning people away from the government-issued digital currency. Nearly a Quarter of Russians Would Store Less Than $200 in State-Issued Digital Ruble
More than half of Russian citizens aged 18 to 65 are ready to keep money in the central bank digital currency (CBDC) issued by the Bank of Russia, a survey among 2,000 people ordered by the Russian SPB Exchange has shown.
According to the results, quoted by the Russian daily Izvestia on Thursday, almost a quarter of the respondents said they would convert between 5,000 and 20,000 regular rubles (approximately $50–$200) to the digital ones.
About 15% of the polled admitted they would transfer no more than 5,000 rubles to the new electronic form of the national fiat. Another 9% would use the digital ruble system for keeping between 20,000 and 50,000 rubles of their personal funds.
Around 2% of the polled are prepared to store 50,000 to 100,000 rubles in the central bank digital currency. For 3%, the amount would exceed 100,000 rubles. Only 2%, however, are ready to keep all their savings in digital rubles.
Most of those who took part in the survey said they would like to start using the CBDC in their daily lives but some are turned away by the lack of sufficient information about the technolo...
|Bitcoin Bulls Keep Pushing, Why BTC Could Recover Above This Resistance
Bitcoin price remained strong above the $25,500 zone. BTC could soon attempt a recovery wave above the $26,500 resistance zone in the near term.
Bitcoin is still consolidating above the $25,500 support zone. The price is trading near $26,050 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase if there is a clear wave above the $26,500 resistance. Bitcoin Price Eyes Recovery
Bitcoin price started another decline below the $25,800 zone. BTC spiked below the $25,600 and $25,500 levels. However, downsides were limited below the $25,350 level.
A low was formed near $25,359 and the price started a fresh increase. There was a move above the $25,500 and $25,600 levels. The price climbed above the $26,000 level and tested $26,150. Besides, there was a break above a connecting bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair.
Bitcoin is now trading near $26,050 and the 100 hourly Simple moving average. It is also above the 23.6% Fib retracement level of the recent increase from the $25,359 swing low to the $26,155 high.
Immediate resistance is near the $26,150 level. The next major resistance is near $26,250. A close above the $26,250 resistance might send the price toward the $26,500 resistance zone.
Source: BTCUSD on TradingView.com
If the bulls push the price above $...
|Here is How dYdX Chain Validators and Stakers Will Keep the Ecosystem Un...
dYdX Foundation - the non-profit organization behind the popular decentralized exchange (DEX) DYDX - announced some requirements that chain validators and stakers must comply with to ensure maximum user protection.
Good practices are organized into six categories: Maximal Extractable Value (MEV), operations and security, performance, transparency, governance participation, and dYdX ecosystem consideration.
According to a recent blog post shared by dYdX Foundation, chain validators should not engage in MEV activities or advantage any trading parties over others.
'We expect that the dYdX community will take steps to disincentivize and punish bad actors who engage in MEV activities. As such, a delegator should consider that they may be impacted if they are delegating to a validator engaging in MEV,' the team behind the entity stated.
Validators should maintain high uptime, ensure their node is online, and keep mempools across the network more consistent 'to provide a better user experience for traders.'
Erratic behavior or misleading practices will not be tolerated.
Chain validators should minimize slashing risk by monitoring their nodes' performance. 'It's inadvisable to use 'sentries' given increased latency, but instead opt for a threshold signer,' the team added.
Other security practices include properly storing signing keys (they should be backed up in a separate location), implementing a system for alerting critical issues, participating in dYdX chain testnets, and opera...
|Bitcoin Price Follows This 1930's Chart, Why BTC Could Keep On Falling
Volatility is back for the Bitcoin price and the crypto market, but it currently favors the bears as value tumbles in the past few days. The nascent sector was moving sideways, but a liquidation cascade forced prices into critical support levels, but the worse might yet come if BTC fulfills a prophecy.
As of this writing, the Bitcoin price trades at $26,100 with sideways movement in the last 24 hours. Over the past week, the price of BTC corrected back to $26,000 after its lost support at the high of its current levels.
Is The Worst Yet To Come For The Bitcoin Price? Bloomberg Intelligence’s Senior Commodity Analyst Mike McGlone shared an analysis on social media platform X. Therein, the analyst classified Bitcoin as one of the “best-performing assets in history,” the cryptocurrency rose from $100 to around $70,000 in less than ten years.
At the same time, McGlone pointed out the similarities between the Bitcoin price chart and the 1930s stock market chart. During this period, the US economy went through one of its worse history leading to a series of economic reforms.
Comparing both sectors, McGlone forecasted a potential drop in the Bitcoin price once the US Federal Reserve (Fed) turns its monetary policy around. As seen in the chart below, the financial institution has raised interest rates to slow down inflation.
As a result, BTC’s price has declined as liquidity leaves financial markets and uncertainty increases. Unlike popular belief, the Blo...
|XRP Price During Next Bull Market: 3 Things to Keep an Eye Out For
As the crypto market continues evolving, investors eagerly anticipate the next bull market. Among the coins poised to make a significant impact is XRP, the digital asset associated with Ripple Labs.
Given its distinctive attributes and significant potential for widespread adoption, it is crucial to monitor three key factors when assessing XRP's price trajectory in the upcoming bull market.
Having regulatory clarity regarding crypto, especially XRP could greatly impact its price. Ripple Labs is currently engaged in a legal battle with the U.S. Securities and Exchange Commission (SEC) regarding the classification of XRP as a security.
A favorable resolution to this dispute could propel XRP's value upward. Conversely, an adverse ruling could dampen investor sentiment and potential price gains. In a recent statement, John Reed Stark, a former SEC official, hinted at the possibility of more crypto-friendly policies and increased regulatory clarity in the event of a Republican victory in the upcoming U.S. presidential elections.
Technological advancements within the Ripple ecosystem will also shape XRP's price during the next bull market.
The integration of new features, such as the implementation of the Flare Network for smart contracts and interoperability with other blockchains, could significantly enhance XRP's utility and demand.
These improvements could position XRP as more than just a cryptocurrency, appealing to a broader ...
|Former US OCC Officials: 'Stablecoins Can Keep the Dollar the World's Re...
Brian Brooks and Charles Calomiris, former officials at the U.S. Office of the Comptroller of the Currency (OCC), have stated stablecoins can be tools that might help the U.S. dollar maintain its status as a reserve currency. In a recent article, Brooks and Calomiris call for regulations to allow stablecoin issuers to have the clarity needed for the assets to thrive.
Stablecoins Might Help the U.S. Dollar Maintain Its Reserve Currency Status
Brian Brooks, former U.S. Comptroller of the Currency, and Charles Calomiris, former chief economist of the Office of the Comptroller of the Currency (OCC), have issued an op-ed article explaining how stablecoins could contribute to maintaining the status of the dollar as a reserve currency.
Brooks and Calomiris detail that stablecoins can be significant tools in the fight against worldwide de-dollarization, serving as catalysts for the demand for dollars for citizens in developing countries, even when their governments do not support dollarization per se.
They cite Argentina and Venezuela as examples of countries facing extremely high inflation levels with governments taking measures to cut dollar dependency, but whose citizens use dollars to protect their incomes and savings from losing value while stored in their national currencies.
In this sense, they explained:
Faced with the dismal prospect of saving their wages in local currency stored in local bank accounts, more citizens of high-inflation countries are opting to use doll...
|Solana Recovery: Bulls Have To Keep Shielding Against Price Dip To Key L...
The Solana price exhibited a bullish trend during the recent trading session, pushing it beyond the $24 mark. It surpassed a key resistance hindering its progress for over a week. Within the last 24 hours, SOL saw a rise of around 6%, with a similar price increase visible on the weekly chart.
From a technical standpoint, Solana's outlook appears optimistic following the recent price shift. Both demand and accumulation have expanded on the daily chart, reflecting positive sentiment.
Despite bullishness, the speed of SOL's recovery depends on its ability to swiftly overcome the immediate barrier, which had previously acted as a tough resistance level.
Additionally, the bulls must ensure that the price remains above the local support, as a drop below would invalidate the bullish thesis. Furthermore, Solana's market capitalization has improved, indicating a gradual inflow of buyers into the market now.
Solana Price Analysis: One-Day Chart
Trading at $24.84, SOL has successfully breached the $23 resistance level, marking a growth of nearly 6%. This upward movement has reignited buyer interest, yet for Solana's recovery to persist, it must exceed the $25 threshold. Breaking past this point would enable the bulls to advance by an additional 8%, with a potential target of $27.
Conversely, the primary support levels for this altcoin are situated at $24 and subsequently at $22. A drop below $22 would revive bearish momentum, possibly prolonging a bearish phase.
|Pepe Price Has Pumped 19% – Will It Keep Rising? Wall Street Memes...
Recently, the meme coin market has seen an uptick in interest, with numerous tokens registering modest price increases.
Pepe coin ($PEPE) has been one of the main beneficiaries, with the token’s price pumping 19% in the last 24 hours.
Other meme coins like Wall Street Memes ($WSM) and Cowabunga Coin ($COWABUNGA) have also seen a boost in momentum amid the renewed hype.
Increased Trading Volume Fuels $PEPE Breakout Attempt
The price of $PEPE is currently hovering around $0.00000126 and is inching closer to the 20-day Exponential Moving Average (EMA) on the daily time frame.
This EMA, a commonly used indicator for short-term trends, was last broken in mid-July and hasn’t been breached since.
Given the current bullish momentum surrounding $PEPE, some investors speculate that the price can break back above the 20-day EMA – thereby confirming a short-term trend reversal.
The likelihood of this occurring is increasing, with CoinMarketCap data revealing that the $PEPE trading volume hit $197 million during the past day, 125% higher than the previous 24 hours.
If the current surge in buying volume can be sustained and $PEPE can soar above the nearby EMA, it would signal that the bears have lost control for the first time in nearly a month.
Meme Coin Market Resurgence Lifts Pepe Coin’s Price
Interestingly, no clear catalysts exist for $PEPE's current positive price movements.
The coin's creators haven't released any major upgrades or announced any new use case...
|Why Do Large BTC Addresses Keep Buying Bitcoin in the Past 3 Months?
The number of Bitcoin addresses holding at least 100 BTC has recently spiked to almost 16,000. Those participants collectively own 11.5 million BTC, adding almost 28K BTC in the last 12 weeks.
Bitcoin sharks and long-term holders have also shown a rising interest in the leading digital asset during the first half of the year, which saw the asset's price climbing above $30,000. In addition, the sector was infused with optimism following the numerous applications from finance giants such as BlackRock, Invesco, VanEck, and others, all of which filed to launch a spot BTC ETF in the United States.
The Recent Uptrend
The cryptocurrency market intelligence platform Santiment revealed that bitcoin addresses holding at least 100 BTC (equaling $2.9 million at current prices) have surged to 15,870.
These whales have purchased 27,755 BTC during the past three months and currently possess 11.5 million BTC (worth $334 billion), or nearly 60% of the asset's total circulating supply.
Bitcoin Addresses Holding Over 100 BTC, Source: Santiment
According to Santiment's figures, the latest accumulation spree started in mid-May when Bitcoin was trading at around $27,000 and intensified in June and July.
The cryptocurrency industry received some revival shots during the first months of the summer, coming from the multiple spot BTC ETF filings and Ripple's landmark victory in the legal battle against the US Securities and Exchange Commission (SEC).
One can observe, thoug...
|This Hedge Fund Manager Backs Bitcoin & Ethereum Prices to Keep Rising, ...
Cryptocurrencies are showing remarkable resilience amidst a turbulent economic environment, evidenced by their decoupling from traditional asset classes.
Dan Morehead, CEO of Pantera Capital, predicts this dynamic will allow major cryptos like Bitcoin and Ethereum to continue rallying over the medium term.
Although these two cryptos remain the most talked-about in the space, investors are also paying attention to BTC20 – an innovative new token that combines elements of both Bitcoin and Ethereum and has just launched an eagerly-anticipated presale phase.
Crypto Guru Dan Morehead Forecasts Rally for Bitcoin & Ethereum
Veteran hedge fund manager Dan Morehead has a long history of successfully investing in top cryptocurrencies before major price increases.
As CEO of Pantera Capital, a US-based hedge fund established in 2003, Morehead has managed a Bitcoin fund that has produced over 42,000% in returns since its inception.
Considering his background and successful track record, Morehead's optimistic perspective on Bitcoin and Ethereum is highly influential in the crypto community.
In a recent interview with Forbes, Morehead stated that “we can rally now” in reference to the potential for the crypto market to recover after a difficult year in 2022.
This optimism stems from his interpretation of the Federal Reserve's recent activity in the bond markets.
Over the past 15 years, the Fed has purchased huge amounts of bonds – a strategy known as 'quantitative e...
|Will Sonala Keep Exploding After 32% Weekly Gains? Three Things to Watch...
Solana doubled in price since June, and it seems it wants to go much higher.
Key Support levels: $26Key Resistance levels: $33Uptrend Intact
The impressive performance by Solana continued in July, and a major breakout took place last Friday when the price moved above $26 and almost reached $33, which is the current resistance. SOL has turned the $26 level into support, and so long as this level holds, this cryptocurrency has a clear path higher.
Chart by TradingView
Buying Volume Exploded
Last week's buy pressure exceeded any expectation with levels not seen since the start of 2023. This impressive interest from buyers rapidly translated into a higher price. The volume has decreased somewhat compared to last week, but buyers continue to be present.
Chart by TradingView
3. RSI is Overbought
The daily RSI is giving a clear signal that Solana may have reached a local top right now after hitting 82 points. This means a pullback is likely on lower timeframes, and buyers have to do their best to stop sellers at the key support.
Chart by TradingView
The bias for SOL is bullish.
Short-Term Prediction for SOL Price
The price action remains bullish for Solana, and momentum is favoring buyers. Nevertheless, a short-lived pullback could take place before the price attempts to break the key resistance at $33. If, for any reason, the support at $26 fails, then the pullback may last longer than initially expected.
The post Will Sonala Keep Exploding After 32% Weekly Gains? Three Things...
|Keep Building: Binance Starts Running Bitcoin Lightning Network Nodes
Following through on its promise in May, crypto exchange giant Binance confirmed on Tuesday that it has begun running multiple nodes on Bitcoin’s lightning network.
The exchange plans to leverage the layer-2 scaling solution to enable cheaper Bitcoin (BTC) deposits and withdrawals on its platform.
Binance resolved to integrate lightning after an explosion in memecoin / Ordinals popularity on Bitcoin in May, which triggered major blockchain congestion and drove up transaction fees by over 1000%.
The event interfered with exchanges like Binance attempting to satisfy users’ deposit and withdrawal requests, prompting the exchange to briefly suspend BTC withdrawals on May 7.
In response, the firm increased the transaction fee it attached to Bitcoin withdrawals (to ensure they’d be processed faster by miners) and assured followers that lightning network withdrawals were in the works.
To prevent a similar recurrence in the future, our fees have been adjusted. We will continue to monitor on-chain activity and adjust accordingly if needed.
Our team has also been working on enabling BTC Lightning Network withdrawals, which will help in such situations.
— Binance (@binance) May 8, 2023
“Some eagle-eyed users spotted our new lightning nodes recently. Yes - that's us,” tweeted Binance on Tuesday. “There's still more tech work to be done. We'll update once Lightning is fully integrated.”
Lightning nodes allo...