|All Time High:|
|Market Cap: |
|The price of #RLY today is $0.00588 USD.|
The lowest RLY price for this period was $0, the highest was $0.00588, and the current live price for one RLY coin is $0.00588372.
The all-time high RLY coin price was $1.41.
Use our custom price calculator to see the hypothetical price of RLY with market cap of ETH or other crypto coins.
|The code for Rally crypto currency is #RLY. |
Rally is 2.9 years old.
|The current market capitalization for Rally is $30,280,817.|
Rally is ranked #414 out of all coins, by market cap (and other factors).
|There is a medium daily trading volume on #RLY.|
Today's 24-hour trading volume across all exchanges for Rally is $484,218.
|The circulating supply of RLY is 5,146,538,583 coins, which is 34% of the maximum coin supply.|
Rally Digest #66 (March 24, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches: - VR With Jasmine — $JAS Jasmine is a VR content creator on YouTube and TikTok. Jasmine makes VR tutorials and XR product reviews. She has a Bachelor’s Degree in Mechanical Engineering, an MBA and has worked for the top tech companies. She is also the co-host of VRTK’s weekly live stream lessons. — NFT Spotlight: - The $BOT Coin Community’s Silver Badge NFT grants the holder a 2x $BOT Rewards multiplier for playing on Amazon Alexa, enabling holders to accumulate $BOT faster while playing the games they love. The NFT also unlocks access private to experiences, exclusive airdrops, and sneak peeks for future game releases. The $BOT social token can be used to make other purchases, trades, and withdrawals within the $BOT Rewards Program and the greater Rally ecosystem. — Project News: - The launch of $HBCU was featured in AfroTech. Rally Director of Partnerships for Music, Bryce Carr, was quoted in a Billboard feature on doing music deals in the metaverse. — Creator Spotlight: - How I Built My Token Economy: Joe Pulizzi, $TILT Rally Digest #66 (March 24, 2022) was originally published in Rally.io — Social Tokens + NFTs for Creators on Medium, where people are continuing the conversation by highlighting and responding to this story.
Rally Digest #65 — (Mar 16, 2022)
Rally Digest #65 — (Mar 16, 2022) - Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches. — Luke Lawal Jr. — HBCU Buzz ($HBCU) HBCU Buzz is a multimedia company focusing on amplifying the Black College community, delivers HBCU news, insights and editorials. Since 2011, HBCU Buzz has been a resource for prospective & current students and alumni. We are on a mission to amplify the Black college experience, articulate stories of HBCU achievement, challenges, opportunities, & developments and advocate for students, alumni and the legacy of these historic institutions. Also launched last week: $AUTH, $EAZY, $GRIT, $HEART — NFT Spotlight. — The Q.D. Dolls NFT Collection, created by Natalie Nichole ($DOVE), awards NFT holders with the opportunity to contribute to a charitable organization or fund their independent art initiative. Every time a Q.D. Edition sells out, one NFT holder will receive $1,000 as a donation to their organization of choice or as a stipend to support the marketing efforts for their independent art project, business, or initiative (if they identify as an independent artist). — Project News. — Director of Music Partnership Bryce Carr outlines a path in Hypebot for the music industry and web3 to move forward together-where the laws of IP are respected and creators and communities...
Rally Digest #64 — (Mar 9, 2022)
Rally Digest #64 — (Mar 9, 2022) - Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches. — Hungrybox ($BOX) is one of the most successful Super Smash Bros. Melee players of all time and considered one of the “Five Gods of Melee.” He currently streams on Twitch to a dedicated fanbase, and utilizes $BOX to allow viewers to make him do things on-air (like make him exercise) and play 60-second video clips of the viewer’s choice during the stream. — NFT Spotlight. — Shipbroman’s ($SHIPR) Discord NFT Membership Pass gives the NFT holder exclusive access to the Shipbroman community Discord NFT channel. The channel offers daily tips about the latest Blockchain NFT projects and each project’s promises, as well as access to varying DeFi Yield Farming opportunities (DEGENS unite!) and the latest stable APY opportunities from reputable platforms. NFT holders will also be prioritized in the future DAO that is being developed by the growing Shipbroman community. — Project News. — FWB X Rally Hackathon: The hackathon had more than 100 participants across 25 teams building through the day. The three winning teams, chosen by a panel of judges including Brian Mark, Alex Hooven, and Mahesh Vellanki, have a month and a small budget to build a working prototype of their product, and have the opportunity to win huge c...
Rally Digest #63 (Mar 1, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches. — Roberto Carlos — $RC3 Roberto Carlos is a Brazilian former footballer who is widely considered one of the greatest left backs in history. As well as lifting the 2002 World Cup, Roberto Carlos also won three Champions League and four La Liga titles with Real Madrid in his career, which ended in 2015 after a spell in India as player/head coach with Delhi Dynamos. Fans who hold $RC3 will gain access to exclusive signed merch giveaways, private NFT drops, Zoom calls and other benefits and experiences on Rally. Also launched last week: $T45, $IDEA, $LADDR — NFT Spotlight. — A&R Block ($ANR) — a collective of entertainment industry professionals that helps people build their networks through demo submissions, NFT music/art, social media support, and entertainment industry networking/conventions — launched the Dynasty “Go Get It” NFT Collection, highlighting A&R member and musician Dynasty’s newest track “Go Get It.” NFT holders will receive a physical t-shirt with a DTG Print of the NFT, as well as special access to future events hosted by Dynasty. — Thought Leadership. — Tam Gryn, Director of Fine Arts at Rally.io, brings deep arts experience to the Rally team. In “11 Reasons Why Artists Shouldn’t Be Afraid of NFTs”, sh...
Rally Digest #62 (Feb 23, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches. — Duncan Robinson — $DBO “I am the host of the Long Shot Podcast and also a professional basketball player for the Miami Heat. When I am not recording episodes or draining threes on the court, I enjoy deep reddit dives into the crypto/NFT space and hope to integrate this knowledge into my business ecosystem.” Also launched last week: $MOTV8. — NFT Spotlight. — Transcending Dove Collection, Natalie Nichole, $DOVE Natalie Nichole — best-selling author, singer/songwriter, actress, & entertainer — launched the Transcending Dove Collection, an NFT Collection linked to her #DoveNation Community. Her #DoveNation Discord functions like a game, where members can level up based on how many $DOVE coins they hold. As members level up, they unlock new rewards and access to exclusive benefits, events, and more. You can fast-track to a specific level by purchasing one of the Transcending Dove NFTs. — Project News. — Rally Growth - As of February 2022, the collective economy holdings across all creator coins is nearly $110M USD across 280 creators. Of those, 59% have collective economy holdings of more than $100K USD and 10% have collective holdings of more than $1M USD. Duncan Robinson Launch - On Friday, Duncan Robinson launched $DBO, a new soci...
Rally Digest #61 (February 15, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches. — ZsONAMACO Fair Platforms includes Art, Design, Photography & Antiques and supports and promotes creators through $ARTE coin. Also launched last week: $HYDRA, $MASHI, and $BP4. — NFT Spotlight. — ZsONAMACO, $ARTE — Alonso Cedillo’s “Still Life with Smartphones in a Fishpond” Alonso Cedillo’s (Mexico City, 1988) work explores our post-internet world dissolving the limits between reality and fiction. Since 2018, the artist has focused entirely on working with images which are native to screens through different protocols like painting, sculpture, post-photography, programming, and video. This series takes the idea of still life as a starting point to explore the way in which we relate to technology, its fragility, and its presence in daily life. — Project News. — Rally is excited to participate in ETHDenver this year! ETHDenver is the largest Web3 #BUIDLathon in the world (fka hackathon) for Ethereum and other blockchain protocol enthusiasts, designers and developers. This year’s event features simultaneous virtual and in-person events, and kicked off on Friday, February 11th in Denver, CO. Learn more about our bounties here. Rally is now the home of a Super Bowl champion! Los Angeles Rams return specialist Brandon Powell launched $BP4 on...
Rally Digest #60 (February 8, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches. — Crescendo! Podcast — $CRNDO Crescendo! is a new seasonal podcast from award-winning podcast host and author Greg Bresnitz, which explores the intersection of food and music. Each episode, Bresnitz interviews a chef, who guides listeners through an imaginary menu where each dish is paired with a song. The guests share personal stories and insights about their selections, examining the convergence between these savory, sweet, and sonic moments as they build towards each episode’s Crescendo! Freestyle Trampoline Association — $FLIPR By purchasing the FLIPR Coin you are supporting the grass-roots community of Freestyle Trampoline. The coin will unlock NFTs from the Freestyle community in the form of videos of World’s First Skills, Greatest Moments, Influencers, Amazing Athletes and Brand in the community where you can trade and collect the NFTs from the community and be part of the future of the sport of Trampoline. Your investments will fuel the next generation of “Flippers” to take the next step for the global Movement! #FLIPPERcoin — NFT Spotlight. — Auggie Velarde’s NFT Clanger recreates organic audio sourced from natural environments with code. The Peru-based musician blends modern sound with algorithmic rhythms, inspired by philosophical perspecti...
Rally Digest #59 (February 1, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — Social Token Launches. — Banzai Bowls — $BNZI We are Banzai Bowls, a family owned business named after the famous wave Pipeline which is located on the North Shore of Oahu. Our passion is delivering you with the best hand crafted Acai bowl experience. Our background of surf and skate culture has driven our passion since 2008, and we are always ‘Living life in the bowl’. Excited for this next journey into the crypto space! — NFT Spotlight. — Jeremiah Owyang’s “Web Strategy: 2022” NFT grants access to Owayng’s premium Web Strategy group on Discord, providing valuable insights and discussions on digital trends across Web3, Digital Marketing, Corporate Innovating, Tech Wellness, and other related news. Jeremiah provides ongoing links to important news articles for the Discord group to discuss in private, as well as other occasional perks. Jeff Pulver’s “Oh Dear” NFT — featuring art by Joyce Brian — benefits the WhyHunger foundation, an initiative co-founded by Harry Chapin to feed people in need. — Project News. — Creator Mentorship Program Launch — Rally’s Organic Mentorship Program connects newly minted creators to veteran members of our community. Over the course of six weeks, mentors guide their mentees through the launch process & be...
Rally Digest #58 (January 26, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — NFT Spotlight - Cat Crate by alliestrasza $ALLIE alliestrasza’s Cat Crate NFT grants the holder a random Allie Cat NFT — 1 of 500 unique cats based on Allie’s real life animals Willow, Po, Tai, and Mika. Holding an Allie Cat NFT grants access to play-to-earn games exclusive to the Allie Cat community. Fountain by TMFA $ART “Fountain” is one of Duchamp’s most famous works and is seen as an icon of twentieth-century art. TMFA’s work is a 2021 replica of “Fountain” made in Blender to resemble the original porcelain object. — Creator Spotlight - Catch our interview with Emery’s Devin Shelton, and learn how the indie hard rock band became a “digital-first band,” launched its $WALLS Creator Coin, and changed its business model after 20 years of making music. — Industry News - NFTs are coming to Instagram and Facebook. That’s according to reporting from the Financial Times, which says users of those platforms will soon be able to display their NFTs as their profile pictures. The platforms are also working on longer term plans to create NFT marketplaces where users can trade and mint tokens. Speaking of NFTs as profile pics, Twitter’s long awaited NFT verification feature is now live, Decrypt reported. Users who pay for Twitter Blue, a subscription service that’s available ...
Rally Digest #57 (January 18, 2022)
Welcome to the Rally Digest, a weekly round-up of everything that’s happening around the Rally project. — New Creators: - Natasha May-Thomas/ $NMT Natasha May-Thomas is a professional performer based in London. The British actress and dancer has shared the stage with iconic industry stars including Camila Cabello, performing as a backup dancer at The 2020 Global Awards. She has also played the role of ‘Louise’ in the world famous musical ‘Carousel’ at the renowned Regents Park Open Air Theatre & more recently has been cast in Andrew Lloyd Webber’s Cinderella in London’s West End. May-Thomas was recently awarded two awards at the prestigious Black British Theatre Awards for Best Recent Graduate and Best Supporting Female Actor in a musical. Mitch Rossell/ $MITCH Artist/Songwriter based in Nashville, TN with over 27 Million Streams worldwide. Also written hit songs for Garth Brooks including “Ask Me How I Know” and “Dive Bar” feat. Blake Shelton. Dane/ $DANE Streamer and Youtuber focused on the game Hearthstone, finding creative ways to help waste your time. Raw/ $KICK Set up in 2016, at first, RAW was an organization composed by international booking agents working for talents coming from all over the world. Over the years and always seeking for innovation in the scene, the collective gradually created a large network, activities, and roster including some of the most iconic faces of the ...
More Rally (#RLY) News
|Ethereum Price Momentum Reignites, RSI Signals Rally To $2,200
Ethereum price remained well-bid above the $2,020 level. ETH is now rising, and the bulls seem to be aiming for a move toward the $2,200 level.
Ethereum is making a fresh attempt to clear the $2,100 and $2,120 resistance levels. The price is trading above $2,050 and the 100-hourly Simple Moving Average. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $2,120 resistance zone. Ethereum Price Regains Strength
Ethereum price started a downside correction below the $2,050 level. ETH tested the $2,020 support, where the bulls took a stand. A low was formed near $2,019 before the price climbed higher, like Bitcoin.
The price cleared the $2,050 resistance zone. There was a break above a major contracting triangle with resistance near $2,055 on the hourly chart of ETH/USD. The pair climbed above the 50% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.
Ethereum is now trading above $2,050 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,095 zone or the 76.4% Fib retracement level of the downward move from the $2,126 swing high to the $1,986 low.
The first key resistance is near the $2,100 level. The next resistance sits at $2,120. A clear move above the $2,120 level could send the price toward the $2,200 resistance zone.
Source: ETHUSD on TradingView.com
|Polygon Whales Go On 120 Million MATIC Buying Spree, Rally Soon?
On-chain data shows the Polygon whales have loaded up on 120 million MATIC during the past week, a sign that could be bullish for the asset's price.
Polygon Whales Have Increased Their Holdings Recently
As pointed out by an analyst in a post on X, MATIC whales have made a decent amount of buys during the past week. The relevant indicator here is the 'Supply Distribution,' which keeps track of the total amount of Polygon that the different holder groups are carrying in their wallets right now.
In the context of the current topic, the whales are the ones of interest and their group address balance range may be defined as 10 million to 100 million MATIC (which converts to about $7.7 million to $77 million at the current exchange rate).
The whales are the most powerful entities on the network, because of the sheer scale of reserves they hold. As such, their movements can often be worth keeping an eye on, as they may end up having an influence on the asset's value.
Now, here is a chart that shows the trend in the Polygon Supply Distribution specifically for these humongous holders over the past month:
As displayed in the above graph, the indicator's value for the Polygon whales has registered a notable uplift during the past week. In total, these large investors have scooped up more than 120 million MATIC (approximately $92.5 million) in this window.
These buys from the whales have come while the cryptocurrency's price has been trading around its lows following a sharp pullback...
|AVAX Price Prediction: Avalanche Rally Just Getting Started?
AVAX price is showing positive signs above the $20 support. Avalanche bulls seem to be in control, and they might aim for a rally toward $25.
AVAX price is showing positive signs above the $20 level against the US dollar. The price is trading above $21 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if there is a clear move above the $22.50 and $23.00 resistance levels. AVAX Price Signals Fresh Rally
After a strong increase, Avalanche’s AVAX faced resistance near the $24.00 zone. It started a downside correction from $24.05 but remained in a positive zone, like Bitcoin and Ethereum.
There was a drop below the $23 and $22 levels. The price declined below the 50% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It even spiked below the $20 support zone. However, the bulls were active above $18.80.
AVAX price found support near $18.80 and the 61.8% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It is again moving higher and trading above the $20 level.
There was a move above the $21 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair. On the upside, an immediate resistance is near the $22.50 zone.
Source: AVAXUSD on TradingV...
|Ethereum Price Rally In Jeopardy? Key Supports To Watch Out In Short-Ter...
Ethereum price corrected lower below $2,050. ETH is now consolidating above the $2,020 support and might start a fresh increase in the near term.
Ethereum is still struggling to climb above the $2,075 and $2,080 resistance levels. The price is trading below $2,050 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $2,040 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the 100-hourly Simple Moving Average and then $2,075. Ethereum Price Trims Gains
Ethereum price struggled to clear the $2,075 resistance zone. The bears took control and pushed ETH below the $2,050 level. However, Bitcoin managed to stay above the $37,550 support zone.
ETH traded below the 50% Fib retracement level of the upward move from the $1,986 swing low to the $2,076 high. Besides, there was a break below a key bullish trend line with support at $2,040 on the hourly chart of ETH/USD.
Ethereum is now trading below $2,050 and the 100-hourly Simple Moving Average. It is now consolidating above the $2,020 support zone. On the upside, the price is facing resistance near the $2,00 zone and the 100-hourly Simple Moving Average.
The first key resistance is near the $2,075 level. The next resistance sits at $2,090. A clear move above the $2,090 level could send the price toward the $2,130 resistance zone.
Source: ETHUSD on TradingView.com
The next resistance is near $2,200, above which the price could ...
|Chainlink Signal Resurfaces: Is Another 31% Rally Coming?
On-chain data shows that a Chainlink signal that last preceded a 31% rally for the asset's price has just reversed.
Chainlink Age Consumed Metric Has Observed A Sharp Spike Recently
According to data from the on-chain analytics firm Santiment, LINK has recently seen a significant movement from old coins. The relevant indicator here is the 'Age Consumed,' which tells us whether the dormant Chainlink tokens are on the move or not right now.
When the indicator's value registers a large spike, it's a sign that the blockchain is currently observing the transfer of a significant number of old coins. Such dormant tokens belong to a cohort called the 'long-term holders' (LTHs), made up of the relentless hands of the sector.
As such, this metric surging can be something to watch out for, as it means that these LTHs, who usually remain quiet no matter what's going on in the wider market, have decided to break their dormancy.
Now, here is a chart that shows the trend in the Chainlink Age Consumed over the last few months:
As displayed in the above graph, the Chainlink Age Consumed indicator has observed a sharp rise recently, implying that the LTHs have been making transactions.
At the peak of this latest spike, the metric's value touched 4.28 billion, which is the highest level seen since the middle of September. Back then, the indicator registered a spike almost double in scale, and interestingly, what followed in the next couple of weeks was a 31% rally as LINK went from $6.36 to ...
|Revving Up: Solana Bulls Ready To Charge As Analysts Predict Rally Beyon...
Positive events have come for Solana (SOL), the high-performance blockchain network, indicating bullish momentum. In the last month, the price of Solana has risen by 84%, and is currently trading at $56.
With gains of 18 out of the previous 30 days and price volatility of 22.32%, Solana is still a force to reckon with. In that span of time, SOL's price surged by a staggering 78%, from $32 to $57.
The ecosystem is much more excited now that Binance has listed BONK, a meme coin based in Solana. Further evidence of Solana's commitment to the arts is the creation of Artists in Residence, a bustling studio that showcases the variety of art forms involved in the project.
Introducing Artists in Residence: A living studio, curated to showcase the diversity of art in the Solana ecosystem.
Witness the artists create live at @ArtBasel Miami Beach & celebrate a dimension of creative expression that is only possible on Solana.https://t.co/jMFWmVE31d pic.twitter.com/p9IjB8pGKd
— Solana (@solana) November 20, 2023
Analyst's Bullish Prognosis: Solana's Surge As Ethereum Challenger
Bluntz, a well-known pseudonymous cryptocurrency expert, has shared an intriguing forecast for Solana (SOL), predicting a strong rebound and an upward trend for the virtual asset.
Bluntz recently stated in a YouTube presentation that Solana's native cryptocurrency, SOL, which is a strong competitor to Ethereum (ETH), has a potential to hit the $80 level.
Based on his research, Solana looks to be about to ex...
|Ethereum Return To $4,800: Analyst Identifies Pattern To Trigger Rally T...
The Ethereum price has been trading more than 50% below its all-time high of $4,800 for the better part of a year now with no sign of returning to its previous all-time high. However, this slow trend may not continue for much longer as a crypto analyst has identified a pattern that could trigger a rally to its previous highs.
Ethereum Stuck Inside A Bullish Triangle
In an analysis that was posted on TradingView, crypto analyst FieryTrading identified a unique pattern that the Ethereum price has been trading in for almost two years. This pattern is a bullish triangle pattern and it has persisted for more than one and a half years.
Looking at the chart, the Ethereum price has not deviated from this bullish triangle and has not had any success breaking out of it. The triangle began toward mid-2022 when the Terra Network collapse triggered a crypto market-wide crash. Then even with multiple major recoveries since then, the altcoin’s price remains inside this triangle.
The lower end of this bullish triangle is at $887 which is the cycle low, and the upper end has been tracked at just above $2,100. Given this range, it suggests that for Ethereum to break out of this bullish triangle, it would have to clear the $2,200 resistance.
What Happens If ETH Breaks Out Of This Pattern? As the crypto analyst highlights, a breakout of this pattern would lead to a massive rally. The top of this breakout rally could eventually see the Ethereum price return to its 2021 all-time high leve...
|Is the Bitcoin (BTC) Price Rally in Danger? ETF Bears Warn
After a meteoric rise from $26,750 on Oct. 12 to close the month at $34,667 on Oct. 31, Bitcoin price (BTC) is still rising in November. BTC pumped from the $36,500 handle to multi-day support at $37,400 the day Grayscale Investments met with the SEC over its Bitcoin ETF application.
But its gains have seen more volatility this month, whipsawing on a course for $38,000 as Bitcoin ETF bulls hold their breath. That could be a sign that bears are gaining confidence. Meanwhile, bulls may be losing steam the longer markets wait on an SEC approval.
SEC Approval vs. Operation Timelines Key
Long-only crypto hedge fund Off The Chain Capital's president, Brian Dixon, recently said he doesn't expect a big rally when the SEC finally approves one or more Bitcoin ETF products:
'You'll probably see a short-term increase and then a drawdown. But then, when they become operational, that's when we'll see the much larger increase.'
Dixon added, however, that he believes there's plenty of demand from traditional markets, 'I believe there's a lot of institutional investors ... waiting for regulated on-ramp.' But he says the difference between approval and operation timelines is going to be key.
Bitcoin ETF Bears Caution BTC Is Overbought
His prediction echoes a similar one made by Peter Schiff. The Euro Pacific Capital founder and chief strategist said in late October that a Bitcoin ETF approval 'will mark the top of the rally.'
Schiff warned a sell-off could materialize sooner.
|Bitcoin Spot ETF Will Bring $70 Billion In New Money To Trigger Price Ra...
Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally.
Bitcoin Spot ETF Set To Ignite New Inflows
Blockchain data and intelligence provider, Glassnode has recently published research insights on the potential impacts of Bitcoin Spot ETF approvals on the price of Bitcoin and the broader crypto market. The on-chain analytics company has predicted about $70.5 billion flowing into Bitcoin from increased demand from institutional investors.
Glassnode bases its analysis on the assumption that substantial portions of capital invested in the stocks, bonds, and gold market might shift toward Bitcoin investments. The blockchain analytics firm has stated that this influx of new capital could have a huge effect on the Bitcoin market, potentially driving its price to greater levels.
“Based on these assumptions, we estimate approximately $60.6 billion could flow into Bitcoin from the combined stock and bond ETFs, and about $9.9 billion from the gold market, totaling around $70.5 billion in potential new capital influx,” Glassnode stated.
“This significant infusion of new capital could have a considerable impact on Bitcoin's market, potentially driving up its price as it gains broader acceptance and becomes integrated into more tradi...
|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...
|Ethereum Whales Go On 9-Day Accumulation Spree: ETH Price Rally Incoming...
The price of Ethereum has been on a steady and monumental rise in the past few weeks, and the last seven days have not been much different. The altcoin breached the $2,100 mark on Friday, November 24, with its sights now set on new yearly highs.
Interestingly, a recent on-chain revelation has shown what could be behind the latest ETH price surge while offering insights into the future prospects of the cryptocurrency.
On-Chain Data Shows Whales Continue To Buy ETH
Renowned crypto analyst Ali Martinez, in a post on X, revealed that Ethereum whales have been active in the crypto market over the past few days. According to on-chain data from Glassnode, ETH whales have been accumulating the altcoin for nine consecutive days.
Notably, Martinez highlighted that this is the first 9-day accumulation spree in over nine months. Furthermore, the crypto analyst noted that “the increasing buying pressure could be a strong signal for ETH bullish price action.”
Changes in whale accumulation are often closely monitored in the cryptocurrency space because of how large crypto holders can influence the market dynamics. The steady buying pressure displayed by Ethereum whales over the past nine days suggests a growing optimism amongst this class of investors.
Another analyst offered a similar on-chain perspective to the growing accumulation by Ethereum whales. The crypto pundit revealed - via a post on X - that the 200 largest Ethereum wallets now hold a collective 62.76 million ETH...
|Big Money Returns To Dogecoin: Rally To $0.2 Already Programmed?
Dogecoin is trading in the green today, which is a reflection of what on-chain data suggests maybe whales looking to propel the crypto to a rally. Recent on-chain data shows that institutional money might be returning to the meme token, as evident by the number of Dogecoin wallets holding large amounts of DOGE tokens.
Institutional Interest In Dogecoin
Data from the crypto analytics platform IntoTheBlock has reiterated the current bullish sentiment among Dogecoin whales. According to its large transaction metric, the number of DOGE transactions worth $100,000 or more has been on a run since the middle of last month and resumed a spike in the past week.
IntoTheBlock puts the number of transactions worth $100,000 at 1,300 in the past 24 hours and a 7-day high of 1,770. This notable increase indicates a growing interest in DOGE from institutional players and large-scale investors, which brings more stability and less volatility.
This large transaction volume has been going on for a while, as an earlier report noted large holders added more than $2 billion into DOGE throughout October and the first week of November.
Crypto Analyst Ali Martinez also shared a similar sentiment for the translation of the metric's data on social media. According to him, the number of huge DOGE transactions has consistently set new highs this month, which might suggest an increased interest in DOGE from institutional players.
#Dogecoin | There's a notable surge in $DOGE trans...
|BLUR Token Rules Today's Top 100 Crypto Ranking With 88% Rally – D...
The news of BLUR, which saw an impressive 88% increase in price in the last week, has the cryptocurrency industry buzzing. This abrupt increase in value is directly related to what happened after the Season 2 airdrop. Coincidentally, the price spike also occurred following news of Binance CEO Changpeng Zhao's resignation.
The cryptocurrency market saw a consecutive two-day period of downward trading activity subsequent to the disclosure of legal accusations against Zhao. Today, it seemed to have changed course and exhibited a favorable trend, with a notable increase of over 2.5% in value within the past 24 hours.
BLUR On A Tear: 200% Price Boost
In the 42 days since clearing a long-term descending resistance trend line, the price of BLUR has surged by more than 200%. The market movement indicates a positive outlook, despite the daily timeframe Relative Strength Index (RSI) providing a bearish reading.
Market analysts have reported a significant surge in purchasing activity, wherein a total of 51.3 million BLUR tokens were acquired by 19 entities. This acquisition amounts to a remarkable investment of $21 million in the aforementioned commodity.
BLUR is pumping after the Season 2 #airdrop!
19 addresses bought a total of 51.3M $BLUR($21M) after the Season 2 #airdrop. pic.twitter.com/hvgByltM5I
— Lookonchain (@lookonchain) November 22, 2023
BLUR's recent price surge followed a consolidation phase, indicating market indecision as its value consistently traded b...
|Ripple (XRP) Price Rally Incoming in December? This Analyst Comments
XRP Year-End Prediction: Analyst EGRAG CRYPTO forecasts XRP could rise to above $0.71 by year-end, a 15% increase, but warns of a potential drop below $0.55 before climbing.
Previous Mega Pump Theory: Previously, EGRAG CRYPTO suggested a potential 'mega pump' for XRP, raising its value to around $0.85.
Other Analyst's View: Dark Defender, another analyst, predicts an increase in XRP's price to between $1.05 and $1.88, citing a 'cup & handle pattern' in its daily time frame.
A 15% Increase by New Year's Eve?
Could XRP's price go on another offensive by the end of 2023? This is a question that numerous cryptocurrency proponents have been asking and is among the trendiest topics in the community.
One analyst who believes that such an uptrend might be in the cards is the X (Twitter) user EGRAG CRYPTO. They presented a chart according to which XRP might finish the year at above $0.71, representing a 15% increase from its current valuation.
However, the analyst warned that the asset's price might plunge below the certain resistance level of $0.55 (known as the 'Berlin wall') before ascending to the aforementioned peak.
Previously, EGRAG CRYPTO assumed that XRP could be on the verge of a 'mega pump' that could lift its valuation to $0.85 in the following months.
Other XRP Short-Term Predictions
The X (Twitter) user Dark Defender is another analyst who thinks that Ripple's native token could head north in the near future. Recently, they su...
|UNI Price Prediction – After 25% Rally Uniswap Turned Attractive O...
UNI price rallied over 25% and climbed above $6.20. Uniswap is now consolidating gains and any dips might be attractive to the bulls in the near term.
UNI started a fresh increase above the $5.20 and $6.00 resistance levels. The price is trading above $5.80 and the 100 simple moving average (4 hours). There was a break above a key declining channel with resistance near $5.25 on the 4-hour chart of the UNI/USD pair (data source from Kraken). The pair might correct lower, but the bulls could be active near the $5.60 and $5.55 levels. UNI Price Regains Strength
After forming a support base above $4.80, UNI started a fresh surge. The bulls were able to push Uniswap’s price above the $5.25 and $5.30 resistance levels, outperforming Bitcoin and Ethereum.
There was a break above a key declining channel with resistance near $5.25 on the 4-hour chart of the UNI/USD pair. The pair pumped over 25% and even climbed above $6.20. A new multi-week high was formed near $6.60 and the price is correcting lower.
There was a move below the $6.25 level. Uniswap is now approaching the 23.6% Fib retracement level of the upward move from the $4.83 low to the $6.60 high.
UNI is still trading above $5.80 and the 100 simple moving average (4 hours). If there is a fresh increase, the price might face resistance near the $6.40 level. The next key resistance is near the $6.60 level. A close above the $6.60 level could open the doors for more gains in the near term.
Source: UNIUSD on TradingView.co...
|Analyst Predicts Chainlink Rally To $20 Based On This Pattern
An analyst has pointed out how Chainlink might be breaking out of a bull flag right now, which could suggest a rally toward $20.
Chainlink Is Escaping Out Of A Bull Flag Pattern Currently
In a new post on X, analyst Ali pointed out a breakout that may be forming in the LINK price chart. The relevant technical pattern here is the 'bull flag,' which, as its name implies, looks like a flag on a pole.
This pattern forms when the asset's price goes through a pullback after seeing a sharp rally and consolidates inside a region. The initial trend acts as the 'pole,' while the parallel trendlines of the consolidation region make up the 'flag.'
The flag's length (the distance between the parallel trendlines) is always at most half the length of the pole. If it's not, then the pattern isn't that of a bull flag.
Inside the flag, the price feels resistance at the upper line and support at the lower one. A successful break out of the resistance zone generally indicates that the asset is ready to continue the initial uptrend.
According to the analyst, the chart below shows that such a pattern is forming for Chainlink.
As displayed in the graph, Chainlink had earlier been consolidating inside what seems to have been a bull flag, but with the recent surge, the asset has seen a break out of the pattern.
When Ali shared the chart, LINK had been trading just under the $15 mark. The analyst had noted that a retest of the breakout zone could happen soon, around $14.
The cryptocurrency has inde...
|Ethereum Price Rally In Jeopardy? Decoding Key Hurdles To Fresh Increase
Ethereum price started a fresh increase from the $1,900 support. ETH is now facing resistance near $2,020, above which it could accelerate higher.
Ethereum found support near $1,900 and started a decent increase. The price is trading above $1,980 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,020 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase if it clears the $2,020 resistance zone. Ethereum Price Faces Hurdles
This past week, Ethereum price started a downside correction from the $2,120 resistance. ETH declined below the $2,020 and $2,000 support levels. It even spiked below the $1,920 support.
A low was formed near $1,905 and the price started a steady increase, like Bitcoin. There was a move above the $1,950 and $1,980 resistance levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $2,092 swing high to the $1,905 low.
Ethereum is now trading above $1,980 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,020 zone.
There is also a major bearish trend line forming with resistance near $2,020 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level of the downward move from the $2,092 swing high to the $1,905 low.
Source: ETHUSD on TradingView.com
A close above the $2,020 resistance could start another strong increase. The next resistance is ...
|Cardano Breakout Of Epic Proportions: Analyst Predicts 1600% Rally To $6...
Crypto analyst Ali Martinez has noted Cardano (ADA) is open to an unprecedented rally. Price activity suggests that Cardano is moving into a state of consolidation, which coincides with a moderate decline in the general cryptocurrency market.
Nevertheless, the analyst is of the opinion that Cardano's current consolidation is similar to one it had prior to a 2980% increase. If previous events are any indicator, we could see Cardano mirror this move and spike past its all-time high.
Recent Cardano Price Action
Cardano is still up by 48.47% in a 30-day timeframe, but it has lost 7.21% of its market value in the past 24 hours and is currently trading at $0.372. According to chart analysis by Ali Martinez, the current consolidation looks similar to the 2018-2020 consolidation phase without considering the COVID-19 crash.
Following the conclusion of this phase, Cardano witnessed price surges in the first quarter of 2021, one of which was a price surge of nearly 100% in seven days in early February 2021. This marked the beginning of a prolonged bullish run that drove Cardano's price up by more than 2980% and brought it to its current all-time high of $3.10 in September 2021.
#Cardano's current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash!
If so, $ADA could break through the $0.45 resistance around the first week of December. The upswing could send #ADA to $0.75 by late December.
Looking to trade this setup? Head… ...
|Dogecoin Jumps 10%, But This Signal Could Bring Rally To A Stop
Dogecoin has seen a rise of about 10% during the past day, but longs are piling up on the futures market, which may be something to keep an eye on.
Dogecoin Funding Rate Attains Highly Positive Values After Rally
As explained by the on-chain analytics firm Santiment, DOGE traders are betting on the price rise to continue as long positions are being opened on the futures market.
The indicator of interest here is the 'Binance funding rate,' which keeps track of the periodic fee that Dogecoin futures contract holders on Binance are exchanging with each other right now.
When the value of this metric is positive, it means the long investors are paying a premium to the short ones in order to hold onto their current positions. Such a trend implies the majority of the market holds a bullish sentiment.
On the other hand, negative values imply a bearish mentality is the dominant force in the sector as the DOGE short traders are outweighing the longs at the moment.
Now, here is a chart that shows the trend in the Dogecoin Binance funding rate over the past month:
As displayed in the above graph, the Dogecoin funding rate on Binance has turned highly positive recently as the latest rise in the meme coin's price has taken place.
This implies that speculators have jumped onto the opportunity and are betting on the price rise to continue. Since the longs have started piling up in this latest futures mania, the asset has only continued to trend up, suggesting that the bets of these trader...
|Dogecoin On The Brink: Factors That Indicate A DOGE Rally Is Just Starti...
According to on-chain analytics, the next strong Dogecoin rally might be closer than we think. The meme token has been giving traders mixed signals for the past month, but signs like on-chain transaction volume and DOGE's mission to the moon are starting to point to the next surge being right around the corner.
Despite the majority of cryptocurrencies being in the red over the past 24 hours as consolidation and modest selloffs continue, Doge has managed to post a gain of 6.87%.
Dogecoin Transaction Volume Spikes
Price activity indicates that Dogecoin has gained more than 10% over the course of the past week. The cryptocurrency struggled to post gains like other popular cryptocurrencies for the most part of October's rally.
Price data from Coinmarketcap shows the crypto only spiked 19.7% from its October bottom of $0.0579 to end the month at $0.069. However, things changed in early November, as bulls and whales started to inject capital into the cryptocurrency. This influx pushed the cryptocurrency over the strong $0.76 support.
According to crypto analyst Rekt Capital, this breakout was the beginning of a shift in trend, with a spike to a $0.15 price target now in formation.
Various on-chain monitors reveal that on-chain transactions have spiked at the same time. According to on-chain analytics platform Santiment, Dogecoin reached a total transaction volume of $665 million yesterday, its highest level in three months. Data from Coinmarketcap also puts...
|Options Frenzy: Bitcoin Rally To $37,000 Sparks Explosive Open Interest ...
An apparent increase in demand for safe-haven assets, rising interest in Bitcoin ETFs in the US, and anticipation of a more accommodating position from the Federal Reserve were the purported drivers of the cryptocurrency market's recovery this year, which led to a significant gain in the value of Bitcoin.
While the spot and futures markets for bitcoin were at the center of attention at first, options related to the cryptocurrency have recently come to the fore. By introducing a new facet to the market dynamics, these options give a convenient way to speculate on possible price swings.
According to figures from Glassnode, the open interest in Bitcoin's options has reached a new high point by exceeding $16 billion. This big increase in open interest happens at the same time that Bitcoin's price successfully reclaimed the $37,000 mark on November 15.
Options Open Interest On The Rise
The rise in open interest for options shows that the market is more active and investors are interested in Bitcoin futures. The $16 billion figure shows how important options trading is becoming as a major part of the bitcoin market.
On November 10, the Options Open Interest, a measure of the total amount of money invested in options contracts, reached a record high of $18.05 billion, or 491,000 Bitcoin, Coinglass data shows.
Deribit, which has contributed about $14.5 billion, is mostly responsible for this surge, according to Coinglass.
The cryptocurrency derivatives exchange has also disclosed a...
|Cardano Price Poised To Rally 650% By July 2024: Crypto Analyst
According to crypto analyst Ali Martinez, Cardano (ADA) is exhibiting a price consolidation pattern that is highly bullish. Drawing parallels to the consolidation phase of 2018-2020, Martinez points out that ADA's current trend is a mirror image, albeit without the disastrous COVID-19 crash.
'Cardano's current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash! If so, ADA could break through the $0.45 resistance around the first week of December. The upswing could send ADA to $0.75 by late December,' Martinez shared in a recent post on X.
The one-week chart for ADA/USD indicates a prolonged consolidation phase spanning 665 days until July 2020, after which ADA experienced a 2,984% rally, peaking at $3.058. A significant aspect of this ascent was the retest of the upper consolidation box line, which took several months from summer 2020 to early 2021. Interestingly, after dipping back into the consolidation box, ADA initiated a second breakout that led to the massive bull run.
Cardano Poised For 650% Rally Till July? Martinez's analysis suggests that ADA could be on the brink of its first breakout from its current consolidation range of sub-$0.25 to $0.45, which has lasted for 434 days. He outlines two possible trajectories for ADA's price in the forthcoming period, using a gray and a blue line in his chart.
The more bullish scenario (gray line) anticipates a breakout above the consolidation zone that could catapult ADA to $0.75 by the end of De...
|Immutable X Cements Position With 32% Rally – How Far Is IMX Headi...
Celebrated as the paramount force in the realm of Web3 gaming, Immutable X (IMX) has emerged as the go-to blockchain, steering the course for NFTs and in-game transactions.
This blockchain powerhouse has solidified its position as the industry leader, particularly renowned for its association with blockbuster titles such as Gods Unchained and Guild of Guardians.
The native token IMX of Immutable X has had an amazing upswing, rising by an astounding 140%, in an intriguing turn of events. From the bottom of a bear market, when it was trading at under $0.50, it has made a spectacular comeback and is currently trading at a healthy $1.12.
Immutable X: Distinctive Mark On Digital Horizon
With the yearly high of $1.56, which was reached in March, rapidly approaching, it begs the crucial question: Will this increasing trend in values continue? The scene is set, the figures are moving, and analysts keep a close tab on the next developments in IMX's financial story.
In the ever-evolving landscape of digital entertainment and blockchain technology, Immutable X has carved a niche for itself by not only powering but revolutionizing the gaming experience.
Distinguishing itself by dedicating its prowess solely to the gaming and NFT sectors, Immutable X has successfully lured projects that once called other chains home.
Immutable has recently announced a new collaboration with Ubisoft, a prominent gaming company known for its successful series such as Assassin's Creed and Prince of Persi...
|Chainlink Declines 6%: Rally Over Or Is There More To Go?
The Chainlink rally has slowed down recently; here's what the various LINK on-chain metrics look like to see if the surge has hope of a restart.
Chainlink Has Registered Some Drawdown In The Past 24 Hours
Just during the weekend, Chainlink had been floating above the $16 mark, but winds seem to have shifted for the coin in the past couple of days, as it has registered some drawdown.
During the last 24 hours alone, LINK has dropped around 6%, leading to its price slipping below the $14 level. The chart below shows how the cryptocurrency has performed in the past month.
As displayed above, Chainlink had been riding some sharp bullish momentum in this period before this latest plunge, as the asset had more than doubled in value. Despite the decline, LINK is still up over 90% in the past month, which is an impressive return.
Naturally, the investors may be wondering now if the asset has already hit its peak for this rally or if there is more to come shortly. It's hard to say anything about that, but perhaps on-chain data could provide some hints.
LINK Activity Has Been Relatively High Recently
In a new post on X, the market intelligence platform IntoTheBlock has shared the data of some Chainlink on-chain indicators. First, when the firm made the post, about 56% of the asset's investors were sitting on some profit.
The cryptocurrency had then been floating at higher levels than currently (although not too high), so more LINK addresses would have entered a state of loss by now...
|ETH-BTC Ratio Shifting: Is An Ethereum Mega Rally Incoming?
Ethereum prices are firm at spot rates, still trading above the $2,000 level, and multiple other factors point to possible trend continuation.
According to Kaiko's data on November 12, not only is the ETH-BTC ratio shifting and reversing after extended periods of lower lows, but also there is a notable uptick in trading volume with funding rates in crypto derivative platforms shifting from negative to positive, suggesting increasing demand.
Ethereum Breakout Above $2,000
As of writing on November 13, Ethereum is relatively firm and changing hands at around the $2,090 level. Despite the expected contraction in trading volume over the past couple of days following the rally on November 9, the uptrend remains in place.
So far, the immediate support level technical analysts are watching remain at $2,000, marking July 2023 highs. Conversely, the $2,100 zone, marking the April high, is a critical liquidation level that optimistic bulls must break for a buy trend continuation pattern.
As it is, traders are optimistic. However, whether the uptrend will continue depends primarily on trader sentiment and if existing fundamental factors might spark more demand, lifting ETH to new 2023 highs. Thus far, even though the general ETH support base remains upbeat, the coin, unlike Bitcoin (BTC), is struggling to break key resistance levels recorded in H1 2023, which is a concern.
ETHBTC Turning Bullish As Funding Rate Flips Positive
On the positive side, looking at the ETHBTC c...
|Important Ripple (XRP) Developments, Bitcoin (BTC) Price Rally in Danger...
Bitcoin (BTC): Experienced a significant rise to nearly $38,000, with some experts predicting future values as high as $220K to $350K.
Ripple (XRP): Saw a price increase to $0.73, now at $0.65, with strategic expansions in Africa and approval for use in Dubai's financial hub.
Solana (SOL): Marked an 80% increase in two weeks, reaching around $58, with a notable rise in its ecosystem's total value locked.
The largest cryptocurrency by market capitalization has recently charted impressive gains, triggering fresh hopes that an actual bull run could be on the horizon. It spiked to an 18-month high of almost $38,000 (per CoinGecko's data) on November 9. However, it quickly retraced below $36,500 in the following hours.
The ups and downs continued in the remaining days of last week, and currently, BTC is worth approximately $37,000, meaning its price has soared by over 120% since the beginning of the year.
Numerous experts and analysts believe the recent uptrend might be just the beginning of a rally that might take the asset to unseen peaks. Among those were Max Keiser (Chairman of El Salvador-based Bitcoin mining startup Volcano Energy) and Michael Saylor (Executive Chairman of MicroStrategy).
The former believes BTC could explode to $220K following possible social unrest, while the latter sees BTC trading at over $350K, bolstered by the 2024 halving event.
Those curious to check five additional price forecasts coming from prominent figur...
|Ethereum Bulls Keeps Pushing, Why Rally Isn't Over Yet
Ethereum price rallied steadily and surpassed the $2,000 resistance. ETH is consolidating above $2,000 and might start a fresh increase toward $2,120.
Ethereum rallied above the $2,000 and $2,050 levels before it corrected lower. The price is trading above $2,020 and the 100-hourly Simple Moving Average. There is a key declining channel forming with support near $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,085 resistance zone in the near term. Ethereum Price Holds Support
This past week, we saw a strong increase in Ethereum above the $2,000 level. ETH outperformed Bitcoin and cleared many hurdles near the $2,050 level.
It traded to a new multi-week high at $2,137 before there was a downside correction. The price declined below the $2,080 level. There was a move below the 23.6% Fib retracement level of the upward move from the $1,906 swing low to the $2,137 high.
Ethereum is still trading above $2,020 and the 100-hourly Simple Moving Average. There is also a key declining channel forming with support near $2,000 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
On the upside, the price is facing resistance near the $2,060 level and the channel region. The next major resistance sits at $2,085, above which the price could accelerate higher. In the stated case, the price could rally toward the $2,120 resistance. The next key resistance is near $2,150, above which the price could aim for a...
|Bitcoin Hits Interesting Milestone as BTC Price Rally Continues in Novem...
Moreover, the total crypto market cap is now worth more than all the silver in the world.
After a 4.7% rally for the five days ending Sunday, Bitcoin price is humming right along at the $37,100 level. The world's original cryptocurrency is trading 38% higher than six months ago. But it's up even more YTD, with an astounding 123% gain over an average exchange price of $16,600 on January 1.
With the Bitcoin market cap in excess of $725 billion, the leading cryptocurrency is now capitalized at 55% of the value of all the silver in the world at today's spot prices. Furthermore, the total crypto market cap swelling past $1.47 trillion has overtaken the global silver market cap estimated at $1.255 trillion.
Here are three big reasons for Bitcoin's energetic surge into a cryptocurrency spring.
Bitcoin's Deflationary Halving in April
Bitcoin is a deflationary currency.
The seminal cryptocurrency was intentionally designed that way when it was first revealed on Oct 31, 2008. The US dollar has an adjustable rate of inflation. Bitcoin has a fixed rate of deflation.
Every previous halving has resulted in an extended bull market lasting for several months afterward. That will likely continue this year's growth in Bitcoin market cap until it overtakes silver all on its own as it did during the bull run in 2021 two years ago.
SEC Likely to Approve a Spot Bitcoin ETF
New Research note from me today. We still believe 90% chance by Jan 10 for spot #Bitcoin ETF approvals. But if it comes earl...
|Avalanche Shines With A 31% Rally – Can AVAX Bulls Maintain Push T...
Avalanche (AVAX) has had a relatively quiet second half of 2023 regarding price performance and ecosystem advancements. However, the token experienced a mesmerized turnaround towards the end of October, which has seen its value rise almost vertically in the past few weeks.
Avalanche’s positive run coincides with an optimistic climate in the general crypto market, as investors appear to be more interested in various digital assets. While Bitcoin, the premier cryptocurrency, continues to hold its own above the $37,000 mark, most altcoins seem ready to take advantage of changing market sentiment.
Avalanche Displays Strength With 31% Rally - Price Overview
The Avalanche price reached a yearly low of $8.78 in late September, forming the bottom for a trend reversal. The cryptocurrency’s price has been on a bullish run since then while looking to reclaim the highs achieved at the beginning of 2023.
As of this writing, the AVAX token is valued at $18.58, reflecting a massive 31% price increase in the past 24 hours. Meanwhile, the price of the altcoin has swelled by more than 48% in the weekly timeframe.
A broader look at the Avalanche price chart further highlights the token’s strength and attractiveness over the past few weeks. According to CoinGecko data, the value of AVAX has more than doubled in the past month.
Avalanche’s positive price action - in such a short timeframe - further emphasizes the favorable sentiment currently brewing in the general crypto...
|Solana's Rally Hits 184% Gain in 30 Days as $19M in SOL Shorts Liquidate...
This weekend, the crypto community's buzz centered on solana (SOL) and its notable surge in value against the U.S. dollar over the previous week. SOL has posted an 11% gain in the last 24 hours, with a striking 45.2% uptick over the week, ascending to the rank of the sixth largest asset by market cap.Solana Leapfrogs in Crypto Race With 45% Weekly Rise
Among the leading ten crypto assets by market value, solana (SOL) has outperformed its peers this week. Currently, SOL boasts a 45.2% increase over the last week and has vaulted by 184% against the U.S. dollar in the last 30 days. On Saturday, November 11, trading prices for SOL ranged from $53.59 to $63.44 per coin. With around $4.41 billion in global trade volume over the past day, SOL ranks as the fifth most traded cryptocurrency in terms of trading activity.
The recent uptick in solana's value has resulted in a significant number of short positions wagering on the digital currency's decline being liquidated. Data from Coinglass reveals that solana tops today's chart with short position liquidations amounting to $19.28 million. Concurrently, conversations about SOL's rise are peppered across social media networks, including X.
'I missed SOL because less than 30 minutes after my bottom call when I went to buy it had pumped to $12 in one straight candle and now it's at $62,' wrote Eric Wall. Meanwhile, others gloated over their SOL gains. 'Mfers watching me make life changing gains with solana right now,' one individual remar...