|All Time High:
|The price of #NEAR today is $4.04 USD.
The lowest NEAR price for this period was $0, the highest was $4.04, and the current live price for one NEAR coin is $4.03634.
The all-time high NEAR coin price was $20.47.
Use our custom price calculator to see the hypothetical price of NEAR with market cap of BTC or other crypto coins.
|The code for NEAR Protocol is #NEAR.
NEAR Protocol is 3.3 years old.
|The current market capitalization for NEAR Protocol is $4,194,390,429.
NEAR Protocol is ranked #28 out of all coins, by market cap (and other factors).
|There is a very large volume of trading today on #NEAR.
Today's 24-hour trading volume across all exchanges for NEAR Protocol is $640,337,815.
|The circulating supply of NEAR is 1,039,156,880 coins, which is 104% of the maximum coin supply.
|NEAR is well integrated with many pairings with other cryptocurrencies and is listed on at least 71 crypto exchanges.
View #NEAR trading pairs and crypto exchanges that currently support #NEAR purchase.
Near Ecosystem’s Key Infrastructure Octopus Network’s Founder Louis Liu Unveils Octopus 2.0
On April 14th, Octopus Network, a Near-based multi-chain network that provides shared security, interoperability & community for Web3 startups, unveils its core plan on Octopus 2.0. Its founder Louis , who was invited by Near as one of the keynote speakers at the HK Web3 Festival, shared details on Octopus 2.0 that include “$NEAR Restaking” and “Adaptive IBC”. Octopus 2.0 has showcased the further innovation of the Octopus team and will continue to leverage shared security with $Near, to build adaptive IBC bridges for multi-chain interoperability, as well as to support Cosmos SDK. For more details, below is the transcript from Louis’ speech: NEAR has a comprehensive infrastructure to embrace as many Web3 developers as possible. The core is NEAR sharding blockchain with unprecedented scalability and usability, being around by Aurora for EVM execution, Calimero for enterprise use cases, Pagoda for startup facilities, and Machina for decentralized storage. The recently introduced Blockchain Operating System(BOS) unifies the Web3 user experience and provides developer tools to build. Octopus Network is an essential part of NEAR infrastructure, which was designed to serve application-specific blockchains, aka appchains. The Octopus Network provides shared security, interoperability, critical utilities, and community support to appchains. After two years of improving the current architecture of Octopus, the time h...
Rove World v2 Simplifies Web3 Ticketing and Loyalty for Brands
Rove, one of the most user-friendly entertainment ecosystems in Web3, is now in collaboration with NEAR. Their next release, Rove World v2, will act as a one-stop mobile-based ticketing solution and loyalty rewards program for brands. The update will also feature an in-app store that will include major brands, sports leagues, and musical artists. Rove and Rove World v2 removes many of the key friction points that occur when brands and creators try to engage their audience with Web3 technology. Notable brands are already on board, as Rove has collaborated with the likes of Tommy Hilfiger on the Web2 side, alongside some of Web3’s largest brands such as Claynosaurz and MonkeDAO, with more exciting partnerships and activations to be announced soon. “A multichain approach was always at the forefront of our long-term growth strategy for Rove,” said Jason Desimone, Founder of Rove. “Having built and launched the initial version of the Rove World mobile app, our goal is to now expand the reach and traction of Rove to other ‘Layer 1’ blockchain communities and ecosystems that align with our vision and will help us achieve our goals with the launch of Rove v2.” Let’s take a look at how Rove World V2 is a game-changer for branded NFTs on NEAR. — How Rove is helping brands amp up their NFTs - The Rove ecosystem is a solution to many of the core issues facing brand and entertainment NFT campaigns, launches, and p...
NEAR Balkans’ Tekuno and Mastercard Team Up for Gamified NFT Experience
NEAR Foundation is thrilled to announce that Tekuno, one of the most innovative NEAR Balkans Hub projects, recently teamed up with Mastercard to serve up an incredibly unique real-life NFT experience. Attendees at the recent Money Motion (MoMo) Fintech conference in Zagreb, Croatia got a taste of how Web3 and NEAR can help brands reach new audiences with blockchain gamification. Mastercard, a leader in global payment systems, enabled the Tekuno team and NEAR Balkans to realize this ground-breaking experience with NFTs. The NFT activation provided MoMo visitors with a gamified experience through which they could gather evidence of their participation at the conference and various NFTs — a concept called Proof of Doings (PODs). These PODs had time and space restrictions, so participants could only pick them up during a particular period of the conference. PODs demonstrated a novel use case of how NFTs can be used to gamify real life, while strengthening Mastercard’s brand as forward-thinking in the loyalty and payments space. — Behind the Tekuno and Mastercard partnership - The city of Zagreb, Croatia, recently hosted the first edition of an exclusive FinTech conference called Money Motion. With Mastercard as one of the conference organizers and NEAR Balkans as a sponsor, this presented the perfect opportunity for collaboration. Before the conference, NEAR Balkans Hub’s Product Lab was ready to launch Tekuno, a...
NEAR Powers Voting for the Djooky Music Awards
The world of music and the blockchain is about to get a lot more exciting and promising thanks to Djooky and NEAR. The ongoing Djooky Music Awards (DMA) for undiscovered artists will feature on-chain voting mechanisms powered by NEAR, allowing artists to vie for funding and recognition, while voters compete for cash prizes. For upcoming independent artists, Djooky serves as a streaming and discovery tool that links them to fans and industry insiders. Artists can also use the platform’s virtual marketplace, DjookyX, to receive funding by fractionalizing rights to future song royalties. Bringing DMA voting to NEAR will bring further engagement and innovation between musicians and fans. That means voting for DMA finals will be completely on-chain using Near, with weekly prizes being distributed in the form of Near tokens. Artists simply need to create a Near wallet to claim their prizes. In addition, any users trying to predict the next big hit with HitHunder will need a Near wallet to receive token rewards if their song strikes gold. — How the DMAs empower both artists and fans - The DMAs were introduced in 2020 by Djooky co-founders Andrey Dakhovskyy and Brian Malouf as a way to help fans discover new artists and aid musicians in gaining visibility. The competition runs year-round, resetting every quarter with new awards and prizes. The DMAs run tournament style, with artists competing brack-style on the national, c...
NEAR at Consensus: Get Started on the Blockchain Operating System
NEAR Foundation is excited to announce that NEAR is heading to the 2023 edition of Coindesk’s Consensus from April 26–28. NEAR has a massive base at this year’s Consensus, from which we will introduce devs and end users to the Blockchain Operating System. The Blockchain Operating System is an industry-first category, functioning as a common layer for browsing and discovering open web experiences with any blockchain. Here is what to expect from NEAR at Consensus 2023. — The Blockchain Operating System at Consensus - If you saw NEAR’s big announcement out of ETHDenver, NEAR isn’t just a Layer 1 blockchain. It’s a Blockchain Operating System for the Open Web — your easy entry point into Web3. With the BOS, NEAR has built an industry first, with decentralized frontends and forkable components for developers. For end users, the BOS makes app discovery easy and social. All designed to bring billions of people into Web3, on any blockchain. The BOS and much more will be on display at Consensus! — The NEAR booth at Consensus - Consensus is the world’s largest and longest-running crypto gathering, bringing together devs, VCs, founders, policymakers and many others in the Web3, blockchain, and cryptocurrency communities. NEAR will be at Consensus for three days of talks, panels, demos, parties, and more. The NEAR booth at Consensus will be souped-up and multi-faceted, delivering the latest tech and ecos...
NEAR Foundation Backs Hydra Ventures to Create Web3’s First ‘Fund of Funds’ Investment DAO
NEAR Foundation is excited to announce that it has joined Hydra Ventures, a “fund of funds” investment DAO. A first in the Web3 space, Hydra Ventures is designed to help other investment DAOs get off the ground. By partnering with NEAR Foundation, Hydra Ventures will open the doors to the eventual launch of the first investment DAO in the Near ecosystem. “The combined expertise of the leaders that have created this fund offers a winning formula that will help provide critical funding to purpose-driven, socially impactful web3 startups,” said Marieke Flament, CEO of NEAR Foundation. “We are delighted to be playing a part in launching this DAO and look forward to seeing the role it will play in developing our ecosystem.” — Decentralizing Web3 investment with DAOs - To power the “fund of funds” investment DAO, Hydra Ventures has raised $10M in capital from NEAR Foundation, MetaCartel Ventures, ConsenSys, 1kx Ventures, Collab + Currency, Nonagon Ventures, CMT Digital, among others. Hydra Ventures aims to take a hands-on approach to support investment DAOs, from community coordination and investment practices to organizational design, incentive design, and back office/operations. “While the first legally wrapped investment DAOs showed us what was possible, many of them have had major operating flaws which have been exposed over the years,” said Peter Pan, co-summoner of MetaCartel and Partner at 1kx Vent...
NEAR in Hong Kong: Create without Limits
NEAR is making a debut in Hong Kong as a Platinum Sponsor for the Hong Kong Web3 Festival, which will be held at the Hong Kong Convention and Exhibition Centre on April 12–15, 2023. This four-day event, hosted on five center stages across an area of about 9,000㎡, will see over 10,000 attendees, 300 distinguished industry speakers, about 100 Web3 projects, community partners and media partners around the world congregate to network, share, and learn through high-level content and panel discussions. Web3 Festival will bring together the world’s brightest minds, top Web3 projects and leading venture capital firms presenting content-rich discussions and topics centered around Web3. Hong Kong regulatory representatives will also dive into and interpret the latest digital asset regulation policies. Top industry leaders such as CZ of Binance, Illia of NEAR Protocol, Juan of Filecoin, Dr. Xiao Feng of Wanxiang and Yat Siu of Animoca Brands are all expected to speak at the Festival. Join us on April 14th 9:30am to 12:30pm (GMT+8) at NEAR in HK Meetup — a half-day mini summit with a full schedule of keynote speeches and panels to explore topics on NEAR as a BOS, Web3 social, NFTs, DeFi and more. The summit is hosted as one of the official side stages as part of the Web3 Festival at the Convention Centre. A number of remarkable NEAR speakers will join us in Hong Kong and share their insights around NEAR’s ecosystem developm...
Near and Popp Partner on Customer Engagement for Small Businesses
Near Foundation is excited to announce a new partnership with Popp, a company helping small businesses generate better customer engagement using Web3 technology. As part of the partnership, Popp — a solution-as-a-service (SaaS) for small-to-medium consumer brands — will launch its white-labeled tools and products exclusively on Near. — How Popp works for small businesses - Popp helps consumer brands launch micro community spaces for customers, which are embedded in their online stores. Milestone-based customer rewards then drive more engagement for brands. The Near partnership will, for instance, allow Popp’s customers to issue NFTs when certain milestones are met. On Popp, brands can build deeper, more meaningful connections with customers by rewarding them across multiple touch points. Through these bespoke projects, Popp has already generated over £57k in revenue ($69k USD) in six months via six pilot partners. Popp has two interfaces. On the business side, each brand gets its own custom dashboard, where they control its loyalty and rewards program and see customer data. On the customer side, users can see all of the user activity in one place, like new members and the number of “Popps” that are live or completed. Customers can also create and interact with content — the more they interact with the community, the more coins they can earn. Popp’s customer brands include Batch LDN, perl Cos...
Near and WEMADE Team Up to Accelerate Mainstream Web3 Adoption
The Near Foundation is excited to announce that it’s partnering with WEMADE, one of the largest publicly-listed gaming companies in South Korea. A leading game developer in South Korea for over 20 years, WEMADE will be vital in Near’s push toward mainstream adoption of Web3. Near and WEMADE will support the development of blockchain apps in Korea as well as other markets. Near and WEMADE will also jointly work on mutual brand awareness, and collaborate on a number of Web3 community events and business opportunities. “WEMADE and Near share a similar vision of enabling and accelerating the mainstream adoption of blockchain to create a future of nearly limitless potential use cases and benefits for all of us across many different areas of our daily lives,” said Shane Kim, CEO, WEMIX and Vice President, WEMADE. “In order to achieve that vision, we must make it easier, faster, and more cost-effective for developers to onboard off-chain apps, organizations, and startups, and are confident that Near is ideally positioned to do so.” — Onboarding end users and developers into Web3 - The partnership will do much to encourage developers, including game designers, to build on the Near. Beyond co-hosting community events like offline hackathons and boot camps, Near and WEMADE will work together on mutual brand awareness, invest in research and collaboration on cross-chain initiatives, and be on the lookout for potentia...
NEAR Digital Collective Legal Framework
To help accelerate real-world value creation in the NEAR ecosystem, the NEAR community has launched the NEAR Community Purpose Trust (for ease referred to in the remainder of this post as the ‘NEAR Community Treasury’). The NEAR Community Treasury is intended to serve as a decentralised treasury for the NEAR ecosystem that will allocate funds to support various grassroots initiatives. The launch of the NEAR Community Treasury has been championed by the Governance Working Group (‘GWG’), a group focussing on ecosystem governance initiatives as part of the NEAR Digital Collective (‘NDC’). The NDC is an ambitious grassroots initiative that brings together users, projects, stakeholders and partners of the NEAR ecosystem to promote self-governance, aiming to empower the ecosystem to collectively make decisions on everything from funding to elected representatives and more. It is a significant step towards an even further decentralised network. The NEAR Community Treasury leverages an innovative legal framework that builds on work that has already been done utilising Guernsey Special Purpose Trust frameworks elsewhere in the industry. The NEAR community hopes that this framework should help to bring much-needed clarity to participants in decentralised autonomous organisations (‘DAOs’). Below for discussion purposes only is a high-level summary of some of the key features of the NEAR Community Treasury framework. &mdas...
More NEAR Protocol (#NEAR) News
|Bitcoin Misery Worsens: King Crypto's Worst Week Has Investors Shivering...
The Bitcoin market is experiencing a period of adjustment following the much-anticipated launch of US spot ETFs last week. After a surge to a two-year high near $49,000, the leading cryptocurrency has pulled back over the past four days, currently trading at $42,588 with a market capitalization of $834 billion.
This correction presents an opportunity to assess the underlying dynamics and potential future trajectories of the digital asset.
ETF Approval Hype Fades: Markets React
The initial excitement surrounding the ETF approval was palpable, fueling a rapid price increase as investors anticipated increased accessibility and institutional adoption. However, profit-taking and market uncertainty quickly set in, pushing the price back down closer to pre-ETF levels.
This pattern aligns with the 'buy the rumor, sell the fact' phenomenon often observed in financial markets, highlighting the distinction between anticipation and actualization.
Adding to the selling pressure are recent outflows from the Grayscale Bitcoin Trust. The massive fund, previously trading at a discount due to its closed-ended structure, converted into an ETF last week.
However, some investors opted to redeem their shares instead of transitioning to the new structure, resulting in a net outflow of $579 million. This suggests that liquidity considerations and potential portfolio adjustments played a role in the post-ETF price movement.
Furthermore, the activity of Bitcoin miners, the decentralized network resp...
|Near Foundation Cuts Staff by 40%, CEO Says Organization Is in Good Fina...
The NEAR Foundation recently said it has let go of 35 workers as part of a realignment exercise that sees it 'focus on a narrower and higher-impact set of activities.' The foundation's CEO insisted that the job cuts did not in any way indicate that his organization was facing financial challenges.The NEAR Foundation's Record-Breaking Year
The NEAR Foundation announced on Jan. 11 that it had cut its staff by approximately 40% as part of a realignment process that will see it 'focus on a narrower and higher-impact set of activities.' Illia Polosukhin, the CEO of the Swiss-based nonprofit foundation, has however pledged to help the 35 employees find other opportunities in the Web3 industry.
According to his letter addressed to the NEAR community, the job cuts are coming off the back of what the CEO characterized as a successful 2023. Some of the successes achieved in the past year include the NEAR protocol becoming home to three top ten apps in Web3. In the same period, the NEAR protocol reportedly saw a record number of daily users.
However, despite these achievements, Polosukhin said a review of the NEAR Foundation’s activities showed that changes were needed to make the protocol even better. The CEO explained:
'During this process, we heard feedback that the Foundation has not always been as effective as it could be, sometimes moving too slowly and trying to do too many things at once. Following this review, we have decided to significantly consolidate the core Foundati...
|Is Bitcoin Near Top Yet? What Glassnode's Price Multiplier Model Says
Glassnode's model for tracking the 'price multiplier' effect for Bitcoin could provide some hints about whether the asset is near the top or not so far.
Bitcoin Is Observing A Multiplier Effect Of 4-5x Right Now
In a new post on X, the lead on-chain analyst at Glassnode, Checkmate, has discussed the 'price multiplier' effect of Bitcoin. This effect refers to the fact that the capital that flows into the cryptocurrency is not always (in fact, most of the time) the same as the change reflected in the market cap.
To track the exact ratio between the two, Glassnode has defined the 'Realized Capital to Valuation Change Ratio.' This indicator measures how much capital flows into the 'Realized Cap' for every unit change in the market cap.
The Realized Cap refers to a capitalization model for Bitcoin that assumes that the real value of each coin in circulation is not the current spot price but the price at the time it was last transferred on the blockchain.
This last transfer could be considered the previous moment the coin changed hands, so the Realized Cap adds up the cost basis or acquisition value of all coins in circulation. Put another way, the Realized Cap is a model that measures the total amount of capital the investors have used to buy Bitcoin.
Now, here is a chart that shows the trend in the BTC Realized Capital to Valuation Change Ratio over the past several years:
The above graph shows that the Bitcoin Realized Capital to Valuation Change Ratio (90-day) has recently b...
|NEAR Foundation to Cut Team by 40% in Realignment Effort
NEAR Foundation announced plans to cut its team down by about 40% as part of its realignment initiative, impacting 35 employees.
In 2023, the NEAR Protocol managed to host three of ten top Web3 apps, achieve a record number of users daily, and gain more Ethereum community partnerships.
NEAR Foundation Realignment Efforts
NEAR Foundation has released an update through a blog post that its layoff will mainly affect community, business development, and marketing teams. Notably, the engineering team will not remove employees.
The reduction follows a review that found the foundation was ineffective, moving too slowly at times and doing too many things at once. Hence, the protocol has decided to narrow its focus and concentrate on activities with a higher impact.
Further, the team expects to contract more as the ecosystem decentralizes and more nodes are available to instill more activity in the NEAR Foundation network and ecosystem.
As per the announcement, the departing team will be assisted in finding new opportunities in the Web3 industry, NEAR ecosystem, and others.
The protocol mentioned that it will now proceed with more efficiency, speed, and focus as it works on advancing chain abstraction, mainstream Open Web adoption, and user-owned AI.
NEAR Foundation also emphasized that its treasury is secure and strong. The current funds amount to $285 million in fiat, 305 million NEAR worth over $1 billion, and $70 million in loans and investments.
Crypto-Related Layoffs Have Been R...
|Decentralized Exchanges Near Trillion-Dollar Milestone: A Year of Record...
Per data analysis, decentralized exchange (dex) platforms nearly reached a trillion dollars in trading volume, posting $960.69 billion over the past year. Moreover, dex activity in December exceeded the previous 2023 high of $132.26 billion, concluding the month with $135.86 billion in finalized swaps. Dex Platforms Rise to Near Trillion-Dollar Trading Volume in 2023
In the early days, dex platforms held a minor presence, yet they have surged as market leaders compared to the colossal centralized exchanges in recent years. Archived defillama.com data shows dex platforms recorded $7.4 billion in global trade volume in the last 24 hours.
Over the preceding week, these platforms have seen an 11% decrease in volume from the prior week, amounting to $32.83 billion in swaps. Currently, the foremost decentralized exchanges, based on a seven-day trading volume, are Uniswap, Pancakeswap, Orca, Curve Finance, and Thorchain.
December turned out to be the biggest month for dex trading protocols as $135.86 billion in swaps were recorded. This figure outpaced the prior record volume in March 2023 which saw $132.26 billion and the $97.40 billion recorded in November.
September turned out to be the lowest trading volume for dex platforms with only $44.36 billion recorded. The volumes this week indicate the high volume from December may continue to flow into the new year.
In terms of total value locked (TVL) Uniswap leads with $3.76 billion, Pancakeswap with $1.65 billion, Curve with $1.62 b...
|Ethereum Price Tops At 100 SMA, Why ETH Could Struggle In Near Term
Ethereum price failed to recover further above the $2,300 resistance. ETH is showing a few bearish signs and might revisit the $2,080 support.
Ethereum is struggling to clear the $2,280 and $2,300 resistance levels. The price is trading below $2,300 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,300 resistance zone. Ethereum Price Faces Rejection
Ethereum price started a recovery wave above the $2,120 level, like Bitcoin. ETH was able to clear the $2,200 and $2,220 resistance levels. However, the bears were active near $2,300 and the 100-hourly Simple Moving Average.
The price failed to clear the 76.4% Fib retracement level of the downward move from the $2,430 swing high to the $1,860 low. It is now struggling to clear the $2,280 and $2,300 resistance levels. There is also a major bearish trend line forming with resistance near $2,280 on the hourly chart of ETH/USD.
Ethereum is now below $2,300 and the 100-hourly Simple Moving Average, but it is still above the 23.6% Fib retracement level of the upward move from the $1,860 swing low to the $2,289 high.
On the upside, the price is facing resistance near the $2,280 level and the trend line. The first major resistance is now near $2,300. A close above the $2,300 resistance could start a decent upward move. The next key resistance is near $2,400.
|NEAR Protocol Rises 80% Weekly, What's The Next Price Target? Meme Mogul...
In a major market move, NEAR Protocol (NEAR) experienced a substantial surge of 80% in the past week, fueled by the increase in trading volume. The market capitalization saw a major increase as well, leading many to diversify with this cryptocurrency.
But it's not the only altcoin to experience significant growth, as Meme Moguls (MGLS) is also seeing an uptick.
NEAR Protocol (NEAR) Grows 80% During the Week
The surge in both price and trading activity of NEAR Protocol (NEAR) suggests a heightened level of market participation and investor interest. The cryptocurrency gathered attention due to its unique approach to blockchain technology, as NEAR Protocol puts an emphasis on scalability and user-friendly decentralized applications (dApps).
This recent price surge and the increase in value are indicating growing interest and enthusiasm. Detailed on-chart data suggests that NEAR Protocol grew in value from $2.40 to $4.50. Investors and analysts are likely to track the market dynamics of the crypto to determine how far it can rise.
Meme Moguls (MGLS) Also on the Rise
Meme Moguls (MGLS) has seen bullish momentum in the market as it establishes a meme-backed exchange where players can access a P2E ecosystem. It is built on top of the Ethereum network, and will feature simulated trading through which players can improve their trading strategy.
Each player will begin with virtual currency, where the starting value is $100,000 (play money). They can use these funds to begin trading i...
|NEAR Hits New High Since 2022 – Will The Bears Get In The Way?&nbs...
The past two months have been a green flag for the broader crypto market in the run-up to the festive season. Although the hype has since cooled down, a few outliers continue to follow the upward trend. NEAR is one of those tokens that aren’t showing signs of cooling down.
According to Coingecko, the token is up nearly 8% in the daily, with the biggest jump being at 23% in the weekly timeframe. With this price ascent, NEAR just reached a new high of $2.81. The token hit its all-time high of $20.42 in January 2022.
The token’s market capitalization has likewise ballooned significantly, currently priced around $2.8 billion. Several on-chain integrations power this new wave of bullishness for NEAR.
NEAR: Monolithic And Modular? Recently, eyes are on NEAR as it continues to improve its systems. According to a Medium article last week, the protocol is implementing more changes to become what they call “a monolithic going modular” blockchain.
“In a monolithic blockchain, all four functions are executed by the same set of nodes. This has some benefits, such as high security, easier deployment, and potentially improved utility for users thanks to the ability to specialize the entire network,” the Medium article said.
Although the NEAR team says that the token is a monolothic chain, its implementation of sharding do not overwhelm individual validators. However, this isn’t enough for users as both users and developers q...
|Economist Peter Schiff: US Dollar Near 'Historic Crash'— 'Forget S...
Economist Peter Schiff has warned that the U.S. dollar is 'on the verge of a historic crash.' He stressed that there won't be a soft landing for the U.S. economy, predicting a 'crash & burn' scenario. Schiff highlighted the potential for increased inflation, rising interest rates, and elevated unemployment. 'The economy is weaker than the Fed thinks and the result will be larger budget deficits and higher inflation,' he noted.Peter Schiff's Latest Economic Warnings
Economist and gold bug Peter Schiff is back with gloomy economic predictions in a series of posts on social media platform X. He wrote on Tuesday:
The U.S. dollar is on the verge of a historic crash. This will be a game changer for the Fed and the economy, as it will send inflation, interest rates, and unemployment soaring. Forget about a soft-landing. It's crash & burn.
He added: “The U.S. dollar is toast. As inflation heats up, to avoid getting burned the world will turn to gold as the most viable alternative.”
On Wednesday, the economist explained on X: 'The U.S. economy is already in recession. Though Q3 GDP grew by 5.2%, government spending contributed 5.5%. So without that spending, GDP would've contracted by .3%. Government spending borrowed money doesn't reflect real economic growth. It will only lead to higher inflation.'
In another post on Wednesday, Schiff detailed: 'Bonds are rallying on the Fed's Beige Book acknowledgment that the economy is slowing. Bond investors should be careful what t...
|Coinbase COIN Hits 18-Month High To Rally Near $117 – Is $150 On T...
The price of Bitcoin hit a 2023 high, and Coinbase Global (COIN) shares went through the roof. It looked like the crypto exchange had benefited from Binance's recent legal problems.
People have noticed that COIN's price has been doing well in line with the overall good trend in the crypto space led by Bitcoin.
This week, the price of Coinbase stock has been going up quickly because its competitor, Binance, is having some problems with the government.
COIN has been soaring for five days in a row and hit a four-month high of $114.4 as a result. But if you look at the chart for the daily time frame, you can see that this rebound is part of a rising channel. This means that the asset is ready for another surge.
The Nasdaq-listed Coinbase stock reached an 18-month high on Friday. The prices of Ethereum and Bitcoin are also rising.
The price of a COIN share was $115.75 at the time of this writing, up almost 7% in the last 24 hours. It has almost reached $117 per share so far today. Just one month ago, COIN was worth $82 per share, but now it's worth over 40% more.
According to data provided by on-chain research company CryptoQuant, the US exchange's bitcoin reserves have recently shot up, while Binance's have fallen.
Over the past several months, Coinbase has become even more of a major player in the digital currencies sector, even as other companies in the same field have gone out of business.
The exchange's solid track record has been a key part o...
|The Reason NEAR Soared 110% in a Month
NEAR Protocol's Performance: NEAR, the native cryptocurrency of NEAR Protocol, has seen a substantial increase in its value, rising over 20% in the last 24 hours and an impressive 110% over the past month.
Market Optimism and Influences: The surge in NEAR's price could be partly attributed to the overall bullish sentiment in the cryptocurrency market, influenced by rising prices of major digital assets like Bitcoin and Ether, and anticipation of a spot BTC ETF in the US and the upcoming Bitcoin halving.
Support from Binance Japan: NEAR Protocol gained additional support as Binance Japan announced it would add NEAR among 13 new tokens to its platform on November 27, increasing its total cryptocurrency offerings to 47, with a future goal of supporting 100 tokens.
NEAR Protocol's native cryptocurrency - NEAR - has been among the best-performing tokens in the digital asset market in the past several days. Its price has jumped by over 20% for the past 24 hours and a whopping 110% on a monthly basis.
NEAR Price, Source: CoinGecko
Its impressive surge at the end of October and the beginning of the ongoing month could be attributed to the overall bullish sentiment reigning in the entire crypto industry. Recall that the biggest digital assets by market capitalization - Bitcoin (BTC) and Ether (ETH) - briefly climbed to $38,000 and $2,100 (respectively).
The optimism in the space might be triggered by expectations that a spot BTC ETF could soon see the light of day in the Uni...
|Near Protocol (NEAR) Skyrockets 17% Daily, Bitcoin (BTC) Reclaims $37K (...
After a few days of trading sideways at around the $36,500 level, bitcoin finally went on the offensive hours ago and spiked above $37,000.
Most altcoins are also with minor gains today, with Ethereum reclaiming $2,000 after dumping below that level at the end of last week.
BTC Back Above $37K
The primary cryptocurrency dumped hard on Wednesday - Nov 15 - when the bears appeared to have complete control over the market and pushed it south to a weekly low of $35,000. However, the bulls didn't give up and resumed the recent rally within the next 24 hours.
In one of the most notable daily price pumps in a while, BTC added roughly $3,000 and shot up to $38,000 for the second time within a week.
Just like the previous attempt, though, this one was quite unsuccessful and bitcoin was quickly driven back down to under $36,000. The following few days were calmer, with BTC trading sideways in a range between $36,000 and $36,500.
The early Monday trading session started on a more positive note, with bitcoin jumping to $37,500. Although the asset has lost some traction since then, it still stands above $37,000 as of now.
Its market capitalization has jumped to nearly $730 billion, while its dominance over the alts stands still at over 51%.
BTCUSD. Source: TradingView
NEAR on the Run
It's safe to say that Near Protocol's native token has been the top performer in the past 24 hours from the larger-cap alts. NEAR has soared by more almost 20% and trades well above $2.1.
Chainlink, Aptos, IM...
|NEAR Protocol Has Narrative, But Bitcoin Spark Has Real Products
As cryptocurrencies and blockchain technology mature, it becomes apparent that real, tangible products and solutions are the cornerstones of sustainable success.
NEAR Protocol garnered significant attention for its ambitious goals, with a unique narrative and approach. Bitcoin Spark stands out for its focus on real products and accessible solutions delivery.
NEAR Protocol is software encouraging computer networks to run a platform for developers to build dApps. NEAR maintains a distributed network of computers that serves as the foundation for building applications. It uses sharding, which splits the network into parts, so each computer (node) only handles a portion of the transactions, making data retrieval more efficient and helping the platform scale.
NEAR Protocol uses its token, NEAR, for various purposes in settling transaction fees, running apps, and storing payments. When apps use the network, they pay for storage and processing, and some of these tokens are 'burned' or removed from circulation, reducing the total number available.
The protocol relies on computers running its software to ensure accurate transactions. Validators who stake tokens receive rewards for ensuring the network's security and validity.
NEAR Protocol's appeal lies in its sharding technology, which can enhance transaction capacity and security. Developers may find it valuable for building efficient applications, and Ethereum developers looking to link their apps to NEAR may find its...
|Near Foundation and Polygon Labs Partner to Build Zero-Knowledge 'Prover...
Near Foundation and Polygon Labs recently announced that they would build 'a zero-knowledge (ZK) prover for WASM blockchains.' For WASM chains using the zkWASM prover, settling transactions will be more efficient and cost-effective with maximum security guarantees.Transaction Settling More Efficient and Cost-Effective
Near Foundation, the organization supporting the development of the NEAR ecosystem, has partnered with Polygon Labs to 'build a zero-knowledge (ZK) prover for Webassembly (WASM) blockchains or zkWASM for short.' According to a joint press release, the two entities’ zkWASM prover, which is set to be launched in 2024, is positioned 'to lead the market among other wasm provers.'
For WASM chains using this prover, the settling of transactions will be more efficient and cost-effective with maximum security guarantees. Commenting on Polygon Labs’ decision to partner with Near Foundation, co-founder Sandeep Nailwal said:
'We are proud to collaborate with NEAR on this exciting research initiative to further drive the development and adoption of ZK technology. The zkWASM prover maximizes developer customizability, which means projects will be able to select from a number of provers when building with CDK, whether that's launching or migrating an EVM [Ethereum Virtual Machine] chain, or building a WASM chain for closer Ethereum alignment and access to liquidity.'
Bringing Zero-Knowledge Proofs to Web3
As explained in the press release, the availability of a z...
|NEAR Foundation And Eigen Labs Team Up To Improve Web3 Transactions On E...
The NEAR Foundation has announced a strategic partnership with Eigen Labs, a startup focused on building the Ethereum restaking protocol Eigen Layer.
While addressing the challenges of liquidity fragmentation between Layer 2 (L2) solutions, the collaboration aims to reinvent Ethereum (ETH) roll-up transactions, making them “more cost-effective and efficient.”
Rapid And Affordable Ethereum Transactions?
In a joint statement released on November 10, the NEAR Foundation and Eigen Labs unveiled their plans to develop a 'fast finality layer' to power rapid and inexpensive transactions for Ethereum rollups, including cross-rollup transactions.
Per the announcement, the collaboration seeks to significantly reduce transaction processing times to a mere 3-4 seconds, a notable improvement compared to the minutes, hours, or even days it currently takes. Moreover, it aims to make transactions 4000 times cheaper than existing options, providing a cost advantage for users.
Furthermore, one of the partnership's key objectives is to establish “secure and low-latency” cross-rollup communication, resolving the challenges faced by developers and founders working with rollups.
As announced, the Fast Finality Layer will maintain the 'security guarantees' of Ethereum while introducing additional guarantees from the NEAR and EigenLayer technologies.
Both protocols believe this solution promises to enhance liquidity by reducing fragmentation between L...
|Polygon Labs And NEAR Foundation Partner For zkWasm L2 Prover Integratio...
Polygon Labs (MATIC) and the NEAR Foundation have recently announced their collaboration on the development of a zero-knowledge (ZK) prover for the WebAssembly (Wasm) blockchain.
The alliance aims to “bridge the gap” between Wasm-based chains and the Ethereum ecosystem, providing customization and options for developers building with the Polygon CDK (Chain Development Kit).
NEAR Foundation Joins Polygon As Core Contributor
According to Polygon Labs’ announcement, introducing a zkWasm prover will enable developers utilizing Polygon CDK to choose from various provers when building their projects.
This can be leveraged in various scenarios, including launching or migrating an Ethereum Virtual Machine (EVM) chain or constructing a Wasm chain for closer alignment with Ethereum and access to liquidity.
The zkWasm prover will serve as a new runtime, generating zero-knowledge proofs that validate the correctness of native Wasm runtime execution. This advancement is expected to enhance scalability and decentralization, bringing the NEAR protocol closer to Ethereum.
As part of this partnership, the NEAR Foundation is set to become a core contributor to Polygon CDK, expanding the toolkit's capabilities for developers.
Sandeep Nailwal, the co-founder of Polygon, expressed pride in collaborating with NEAR on this research and emphasized the value of the zkWasm prover in providing developers with increased customization options.
To provide further...
|Wintermute to Sue Near Foundation Over Failure to Honor $11M Stablecoin ...
Evgeny Gaevoy, the founder and CEO of the crypto market-making firm Wintermute, has revealed plans to sue the Near Foundation, the non-profit organization behind the Near protocol, over its failure to honor a stablecoin deal entered in August.
According to a tweet, Gaevoy intends to pursue all legal avenues against the Near Foundation and Aurora Labs - the development company behind Aurora, an Ethereum Virtual Machine blockchain that runs on the Near protocol.
The Back Story
Following the collapse of the cryptocurrency exchange FTX in November 2022, the bankrupt firm has been liquidating its assets to maximize distributions for creditors. Wintermute, which has been involved in the process since March, was asked to facilitate the sale of 11.2 million USN, a Near-native stablecoin.
USN was initially designed to be an algorithmic stablecoin, but due to Terra’s UST collapse, the asset was upgraded to a non-algorithmic model in June 2022 to be fully backed by Tether (USDT) on a 1:1 basis. After the upgrade, USN experienced a $40 million collateral gap, which caused the Near Foundation to create a USN Protection Programme in October 2022. The program was launched to make users whole, and the $40 million grant was sent to a subsidiary of Aurora Labs.
Wintermute executed the FTX-linked transaction and sent around $11 million to the company’s creditors with confidence that the USN could be redeemed for USDT on a 1:1 basis. The confidence stemmed from the belief that the Ne...
|Biggest Movers: SOL Hits Near 1-Year High, Gaining 9% on Monday
Solana surged to near a one-year high to start the week, as bulls pushed the cryptocurrency above the $35.00 level. Today’s surge comes as the global crypto market cap rallied, following a recent bout of consolidation. Avalanche also edged higher, surging by 5% today.Solana (SOL)
Solana (SOL) was one of the notable gainers in the market on Monday, as the token climbed above the $35.00 mark.
Following a low of $32.29 on Sunday, SOL/USD rose to an intraday high at $35.17 to start the week.
This is the highest level the cryptocurrency has hit since November 6 last year, when the price was trading above $37.00.
Solana was one of the biggest tokens to fall following the FTX fraud scandal, however price has made steady gains since then.
Today’s surge comes as the relative strength index (RSI) rallied above a ceiling at 74.00, and now sits at 77.33.
SOL remains above $35.00 as of writing, however, bulls could begin taking profits in the coming days.
Avalanche (AVAX) made sizable gains to start the week, moving by as much as 6% higher during the day.
AVAX/USD peaked at $11.60 on Monday, which comes less than 24 hours after falling to a bottom at $10.92.
This has resulted in avalanche rising to its strongest point since October 7, when price last surpassed a ceiling at $11.70.
Earlier gains have marginally faded, with AVAX now sitting at $11.57, and this comes as the RSI hit a ceiling at 70.00.
Price strength is now hovering at 69.40, however bulls will...
|Bitcoin, Ethereum Technical Analysis: ETH Moves Back Above $1,800, BTC R...
Ethereum once again rallied above the $1,800 level on Monday, ahead of a highly significant week of U.S. economic data. Over the next few days consumer confidence, and nonfarm payrolls will be reported, ahead of a Federal Reserve policy meeting. Bitcoin continued to trade close to the $35,000 zone.Bitcoin
On Monday, bitcoin remained near the $35,000 level, ahead of a key week of economic data from the United States.
BTC/USD peaked at the $34,743.26 mark to start the week, after falling to a low at $34,173.38 on Sunday.
This resulted in bitcoin moving closer to an 18-month high at $35,157, which was last struck on October 25.
Bitcoin chart by TradingView
Since hitting a low of $33,400 on Friday, BTC has made consecutive gains, and this comes after the relative strength index (RSI) found a stable floor at 79.00.
As of writing, the index is tracking at 82.52, which is still significantly above the overbought mark.
Should price now continue to increase, there is a good chance that price strength will edge closer to a ceiling at 87.00.
Ethereum (ETH) rose above the $1,800 level to start the week, following a second straight day in the green.
Following a low of $1,779.36 on Sunday, ETH/...
|The End Is Near For Trellor (TRB): Crypto Analyst Says Prepare For 50% D...
Trellor (TRB) has been one of the winners of the recent crypto market rally after going from a monthly low of $43 to over $115 in less than two weeks. This impressive rally has triggered heightened interest in the cryptocurrency leading to more momentum for the digital asset. However, not everyone is buying into this bullish fantasy as one crypto analyst has predicted a rapid decline in price for the digital asset.
Why The Price Of Trellor Will Crash
A TradingView crypto analyst has given reasons for why they see the Trellor (TRB) price crashing in the coming days. The post which included a chart of TRB depicted the price falling back down below the $60 mark once more.
According to the analyst, the first indicator of the coming crash is the fact that there has been a decline in the trading volume of TRB. They showed this in the chart, which showed that the volume drop is happening amid the price rally that the coin still seems to be undergoing.
Also, the crypto analyst believes that this coin has now entered the “extremely overvalued and overbought” level. Now, usually when a coin is overvalued and overbought, it often precedes a crash in price as investors rush to secure profits. This could be what happens in this case, especially given the fact that the majority of holders are in heavy profits.
The analyst points out that the TRB profitability is incredibly high, with 95% of holders in profit at the time that the analysis was posted. This is corroborated by d...
|NEAR Token Lights Up: 22% Price Surge In Seven Days, Network Activity Sk...
NEAR Protocol, a Blockchain Operating System (BOS), demonstrated notable growth in the third quarter of 2023, defying the challenging conditions of the overall cryptocurrency market.
According to a recent report by Messari, key metrics for NEAR Protocol surged significantly over the past month, buoyed by recent price increases across the crypto market.
Surge In Transactions Drives Revenue Growth For NEAR
Per the report, despite a moderate downturn in the crypto market, with XRP and Grayscale facing court rulings in their favor, NEAR Protocol showcased resilience. The total crypto market capitalization dipped by 5.8%, with Bitcoin (BTC) and Ethereum (ETH) experiencing declines of 7.5% and 10.0% respectively.
Within this context, NEAR's circulating market capitalization decreased by 14% quarter-over-quarter (QoQ) to $1.08 billion, while its fully diluted market capitalization decreased by 17% QoQ to $1.12 billion.
Nevertheless, NEAR Protocol maintained its position as the 40th largest crypto protocol by market capitalization by the end of the quarter.
One of the highlights in Q3 '23 for the protocol was the revenue growth, which increased by 9% QoQ from $98,000 to $108,000. The average transaction fee remained at a low $0.001 throughout the quarter.
Regarding network activity, NEAR recorded substantial growth in addresses during Q3 '23. Active addresses increased by 350% QoQ, reaching 260,000 daily active addresses, while new addresses saw a 274% QoQ increas...
|Bitcoin, Ethereum Technical Analysis: BTC Remains Near 18-Month High, ET...
After a brief spell above $35,000 late on Wednesday, bitcoin retreated below this level during today's session. Despite the decline, the cryptocurrency continues to trade close to an 18-month high on Thursday. Ethereum rose back above the $1,800 level.Bitcoin
Bitcoin once again fell below the $35,000 level on Thursday, after a brief stint above this level on Wednesday.
Following a high of $35,133.76 late in yesterday's session, BTC/USD dropped to an intraday low of $34,151.88 earlier today.
The move saw bitcoin continue to trade close to its strongest point since May 2022, when price was over $37,000.
At the time of writing, bitcoin is now trading at $33,990.55, which comes as the relative strength index (RSI) failed to penetrate the 90.00 zone.
Currently, the index is at a reading of 82.99, which remains significantly overbought in the medium term.
Should sentiment begin to truly shift bearish, a floor at $31,000 is the likely target for bears in the market.
On the other hand, ethereum (ETH) was mostly higher, leading prices back above the $1,800 level.
ETH/USD peaked at $1,865.10 earlier in today's session, following a low at $1,781.49 on Wednesday.
As a result of today's surge, ethereum rose to its highest level since August, when the price hovered below $1,880.
The cryptocurrency has now traded in the green for seven straight sessions, adding nearly 20% to its value during this period.
Overall, the 10-day (red) moving average continued to race ahead of its 25-...
|Bitcoin, Ethereum Technical Analysis: BTC Remains Near 2-Month High, Fol...
Bitcoin remained near a two-month high on Tuesday, as markets digested the latest retail sales figures from the United States. Sales, which account for two thirds of the U.S. economy, rose by 0.7% in September, 0.4% higher than expected. Ethereum briefly rose above $1,600.Bitcoin
Bitcoin continued to trade above $28,000 on Tuesday, following a better than expected increase in U.S. retail sales.
Despite slipping from a peak of $30,000 on Monday, BTC/USD traded above $28,600 in today's session.
Although gains have eased, this was still considerably higher than yesterday's low at the $27,855.21 level.
Overall, the recent upward trend means bitcoin is trading at its highest rate since August 18, which comes after the relative strength index (RSI) broke out of a key resistance level.
The index surged beyond a ceiling at 63.00 in yesterday's session, peaking above the 65.00 mark.
Price strength has since retreated, however is still marginally above the aforementioned point of resistance.
Ethereum (ETH), was lower in today's session, after a brief stint trading above the $1,600 mark for the first time in almost ten days.
ETH/USD peaked at $1,628.16 to start the week, on the back of a tweet from Cointelegraph that suggested Blackrock's spot bitcoin ETF was approved.
After these claims were proven to be incorrect, the cryptocurrency has since slipped, falling to a low at $1,570.89 earlier today.
As a result of Tuesday's decline, bears have snapped a four-day win streak, an...
|Massive Activity on Cardano-Based Minswap Pushes Key Metrics Near ATHs
Minswap - which is the largest decentralized exchange on Cardano - witnessed a spike across various metrics after months of low activity.
According to the latest update by DappRadar, Minswap's unique active wallets (UAWs) and transaction count increased by 89.85% and 63.05%, respectively over the past seven days. The volume was also up by a modest 16% in the last seven days.
During the same period, Minswap added 11.29k UAWs, 129.59k transactions, and $592.08 million in trading volume.
The weekly figures spiked due to massive activity recorded on September 24th, when the volume of the DEX surged to $6.86 million, as per the latest data.
On the same day, unique active wallets also climbed above 5.4k, while the transaction count hit 35.96k.
Such activity could boost the prices of Minswap's native MIN tokens, which generate value from platform usage and are used as a governance token.
The surge comes coincided with the launch of the ADA/JPG trading pair, which was made available to users on the decentralized exchange.
Besides, the last prominent spike was in May when the figures for all three metrics registered new all-time highs.
Minswap continued to hold its position as the liquidity king of Cardano DeFi, ending the second quarter of the year with a total value locked (TVL) of approximately $50 million and a dominance of more than 32%.
The figures have since dropped, and TVL is currently stuck near $40 million, DeFiLlama data revealed.
The post Massive Activity on Cardano-Bas...
|Shiba Inu's BONE Spikes 7% as Team Reveals That Minting is Near Completi...
The price of BONE (the native token of the decentralized exchange ShibaSwap) has significantly rallied in the past 24 hours.
According to CoinGecko's data, the asset currently trades at approximately $0.85, a 7.2% jump compared to yesterday's figures.
BONE Price, Source: CoinGecko
The price increase comes shortly after the Shiba Inu team disclosed that minting BONE is 'almost completed.' Minting the remaining supply of the asset is a pivotal step in renouncing its contract.
More importantly, the unit standing behind the popular memecoin Shiba Inu will relinquish control and ownership of the token once the process is finalized.
Not long ago, the team launched the 'dummy' asset Calcium (CAL) to help the goal of minting and renouncing BONE.
Shiba Inu developer Kaal Dhairya issued a stark warning that investors should refrain from trading services with the memecoin as it will have no future value.
'Please do not buy or trade the Calcium token (seriously), there is no liquidity, and claims of large losses are FUD. If someone is selling this, please consider this a scam,' they explained.
The post Shiba Inu's BONE Spikes 7% as Team Reveals That Minting is Near Completion appeared first on CryptoPotato.
|NEAR Protocol's Daily Active Addresses Spike, Will Prices Follow?
In the past month, there have been more daily active addresses on the NEAR Protocol than in Ethereum and its layer-2 protocols, including Arbitrum and OP Mainnet, Artemis data from September 25 reveals.
Artemis, an institutional data platform for digital assets, shows that the number of daily active addresses on NEAR Protocol has been consistently above the 400,000 level in September.
Daily Active Addresses On NEAR Protocol Surging
Looking closer at the data confirms that the number of daily active addresses on Ethereum, the pioneer smart contract platform that hosts most decentralized finance (DeFi) and non-fungible token (NFT) activity, has been dropping.
To illustrate, the number of daily active on Ethereum rose above 1 million in mid-September but has since more than halved to below 400,000. The same trend can be seen in Arbitrum, which dropped from around 200,000 in late June to 150,000 when writing on September 25.
During this time, NEAR Protocol's daily active addresses have rapidly spiked from around 40,000 in late June to above 400,000, outperforming Ethereum in this metric. With rising daily active addresses, there has been a spike in daily transactions over the past month. According to trackers, the NEAR Protocol processes more transactions than Ethereum.
Public ledgers like NEAR Protocol and Ethereum depend on a community of users who actively transact—moving value or running protocols—or validators- to secure the network. However, the numbe...
|Dogecoin Price (DOGE) Prediction – Bulls Face Uphill Task Near $0....
Dogecoin is recovering higher from the $0.060 level against the US Dollar. DOGE could continue to rise if it clears the $0.0640 resistance zone.
DOGE started a decent increase above the $0.0615 resistance against the US dollar. The price is trading above the $0.062 level and the 100 simple moving average (4 hours). There is a key rising channel forming with resistance near $0.0640 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price could struggle to clear the $0.0638 and $0.0640 resistance levels. Dogecoin Price Starts Recovery
After a major decline, Dogecoin price found support near the $0.0595 zone. DOGE traded as low as $0.0591 and recently started a recovery wave. There was a decent move above $0.0600 and the price settled above $0.0612.
Recently, Bitcoin saw a steady increase above $27,000 and helped altcoins in recovery. Dogecoin is also showing a few positive signs and was able to clear the $0.062 resistance. There was a move above the 23.6% Fib retracement level of the downward move from the $0.0685 swing high to the $0.0591 low.
DOGE is now trading above the $0.062 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.0638 level. It is close to the 50% Fib retracement level of the downward move from the $0.0685 swing high to the $0.0591 low.
The first major resistance is near the $0.0640 level. Besides, there is a key rising channel forming with resistance near $0.0640 on the 4-hour cha...
|Bitcoin, Ethereum Technical Analysis: BTC Hovers Near 2-Week High, Ahead...
Bitcoin neared a two-week high on Thursday, as markets looked ahead to today's retail sales report in the United States. Sales are expected to rise by 0.2% in August, a drop from a 0.7% increase the month before. Ethereum remained in the green, moving back above a key support point earlier in the day.Bitcoin
Bitcoin remained in the green for a second consecutive session, ahead of the upcoming U.S. retail sales report. Consumer spending is expected to fall lower, which comes as inflation increased last month.
Following a low of $26,084.80 on Wednesday, BTC/USD surged to a peak of $26,529.50 earlier in today's session.
Looking at the chart, the surge comes as the relative strength index (RSI) broke out of a ceiling at 45.00.
At the time of writing, price strength is tracking at 49.04, which is marginally below a ceiling at the 53.00 mark.
Should it move beyond this, there is a good chance that bitcoin will rise above the $27,000 level in the coming days.
Additionally, ethereum (ETH) was also in the green on Thursday, as price rose above a recent support point.
ETH/USD reached a high of $1,635.82 earlier in today's session, less than 24 hours after trading at a low of $1,593.11.
The move resulted in the world's second largest cryptocurrency climbing above a key price floor at $1,620.
Similar to BTC, today's rally coincided with the RSI moving past a ceiling of its own at the 40.00 mark, and it now sits at 44.00.
This latest rebound has increased the possibility of an...
|Bitcoin Witnesses Second-Highest Daily Ordinal Inscription Count as Insc...
While Bitcoin-based nonfungible token (NFT) sales have declined, and the network has dropped to seventh out of 23 blockchains in sales this past month, Ordinal inscriptions continue unabated. The number of inscriptions linked to the Bitcoin blockchain is nearing 30 million. On September 3, a record 418,240 inscriptions were minted, marking the second-highest daily rate to date.Bitcoin's Ordinal Inscriptions Hit Second-Largest Daily Total
As of 10 a.m. Eastern Time on September 7, 2023, at block height 806,606, there are about 29.48 million Ordinal inscriptions tied to the Bitcoin blockchain. Bitcoin miners have to date received an estimated 1,976.62 BTC, valued at $50.85 million at current exchange rates, from Ordinal inscriptions. Daily inscriptions continue at a rapid pace, with September 3 seeing the second-highest number at 418,240.
The peak number of Ordinal inscriptions was on July 30, 2023, with the third-highest daily rate on August 20, 2023. Given the current trajectory, the number of Ordinal inscriptions on the BTC chain will likely exceed 30 million this weekend. Of the nearly 30 million inscriptions today, 17.53 million are in the 'text/plain;charset=utf-8' format, and 10.17 million are in 'text/plain.' The remaining inscriptions encompass formats such as image files, videos, GIFs, and software applications.
In addition to a surge in daily inscriptions, the inscriptions per block maintain impressively high figures. Moreover, data from Dune Analytics indicates tha...
|Biggest Movers: TON Moves Towards $1.90, XLM Remains Near Recent Highs
Toncoin was a big mover on Thursday, as the token rose by nearly 4%, closing in on the $1.90 level in the process. The rally came despite crypto price consolidation, with the global market cap largely unchanged as of writing. Stellar also surged, remaining near a recent two-week high. Toncoin (TON)
Toncoin (TON) was one of Thursday's notable gainers, as price rallied by as much as 4% in today's session.
Following a low of $1.75 on Wednesday, TON/USD rose to a peak of $1.88, earlier in today's session.
The move comes days after the token reached a high of $2.05, which was the highest point it has hit since May.
Looking at the chart, the rise in price comes as the relative strength index (RSI) jumped at a floor of 60.00.
At the time of writing, the index is tracking at 63.35, with the next point of resistance around 66.00.
In the event it moves beyond this level, there is a good chance that price will move back towards $2.00.
Stellar (XLM) also hovered in the green, as the price remained near a resistance level of $0.1300.
XLM/USD rose to a peak of $0.1243 earlier in the day, which comes following a low of $0.1178 the day prior.
The move comes as the 10-day (red) moving average approaches an upwards crossover with its 25-day (blue) counterpart.
In addition to this, the RSI is on the cusp of breaking out of a key resistance level of 50.00, which has been held for close to a month.
Bulls will potentially aim to penetrate this point in the coming days, taking pric...