The final months of a market cycle are usually characterized by exhilarating runs by various assets in the altcoin market — a period famously dubbed the “altcoin season.” Unfortunately, while the market cycle seems to have peaked, the story has been the opposite for this category of cryptocurrencies. Specifically, the Chainlink price has declined by more than 50% in the last three months, underscoring the dwindling climate of the crypto market. However, the future might not be all bleak, as the latest price outlook suggests a promising future for the LINK token. Is Chainlink Price Gearing For A 100% Move? In a recent post on the X platform, a crypto analyst with the pseudonym Satoshi Flipper shared an exciting analysis of the Chainlink price. Referencing the current layout of its daily price chart, the crypto pundit projected LINK to go as high as $31 over the next few weeks. Related Reading: Ethereum Struggles Below $2K as Bitcoin Recovers—Will ETH Catch Up? This bullish analysis is based on the appearance of the falling wedge pattern on the Chainlink price chart. The falling wedge pattern is a technical analysis formation characterized by two descending and converging trendlines; an upper line connecting the lower highs and the lower line connecting the lower lows. Wedge formations — which could be rising or falling — are considered continuation or reversal patterns, depending on whether the price breaks down or breaks out. In the falling wedge, if the price breaks above the upper boundary as it narrows into the descending lines, a trend reversal is identified. This scenario appears to be playing out on the daily Chainlink price chart, as the altcoin continues to persist in the current downtrend. However, a break above the upper trendline would indicate a shift to an upward trend. As shown in the chart above, the price of LINK seems to be testing the upper boundary line already. Satoshi Flipper expects the altcoin to surge to as high as $31 if a successful close occurs outside the falling wedge. As of this writing, the value of LINK is hovering around the $14 mark, reflecting an over 2% leap in the past 24 hours. A Chainlink price move to $31 would represent a more than 100% surge from the current point. 640,000 LINK Tokens Flow Out Of Centralized Exchanges According to crypto pundit Ali Martinez, most LINK investors have been moving their tokens off centralized exchanges. Recent data from Santiment shows that more than 640,000 LINK have made their way off crypto exchanges in the past 24 hours. This magnitude of exchange outflow supports the current bullish prognosis for Chainlink price, as it implies that the token supply on exchanges (which offer trading services) contracts. With fewer tokens available for sale in the open market, the altcoin’s price would face less selling pressure. However, it is worth mentioning that this significant exchange outflow could be connected to Chainlink’s quarterly token unlock, which saw the release of 19 million LINK tokens on Friday, March 15. Related Reading: Dogecoin Forms Explosive Cup And Handle Pattern With $4 Target Featured image from iStock, chart from TradingView
Trump proposes tariff-free trade for Canada, SEC vs Ripple: XRP lawsuit wrapping, Arthur Hayes predicts Bitcoin bottom at $70K, and more in this Week in Review. Week in Review Bitcoin slipped below $80K as President Trump proposed tariff-free trade for Canada in exchange for statehood, following a 50% tariff on Canadian steel and aluminum. Ripple’s
The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple could be coming to an end, according to rumours that Ripple has been negotiating for better terms in the background and that the SEC wants to reset its relationship with the crypto industry. Fox News reporter Eleanor Terrett revealed the news based on her anonymous sources. She detailed that the SEC and Ripple aimed to resolve the legal dispute and were finalizing a few details of the previous agreement, particularly surrounding the $125 million fine. “My understanding”, wrote Terrett, “is that the delay in reaching an agreement is due to Ripple’s legal team negotiating more favorable terms regarding the August district court ruling, which imposed a $125M fine on the company and included a permanent injunction preventing the company from selling XRP to institutional investors”. The legal battle between the SEC and Ripple has been one of the most closely watched disputes in the crypto world. The SEC alleges that Ripple sold unlicensed securities when they held a sale of XRP tokens. In August 2024, the Federal Court ordered Ripple to pay a $125 million fee and banned it from selling XRP tokens to institutional investors. The impact on Ripple cannot be overstated because its business model was disrupted. The recent news of a possible end to the legal disputes is inspiring for the Ripple team. “The argument, I’m told”, wrote Terrett, “is that if the new SEC leadership is wiping the enforcement slate clean for all previously-targeted crypto firms because it believes regulatory clarity will resolve the underlying issue, why should Ripple still be penalized”? “Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing – but now the SEC itself is seemingly unsure whether any wrongdoing occurred. There’s no real playbook for this kind of thing, which could explain why this case is taking longer to resolve than the rest. Stay tuned”. Gary Gensler, former SEC head, disputed the August 2024 ruling, presided over by Judge Torres, because the fee was reduced from $1.95 billion to $125 million. However, many analysts watching the Ripple saga unfold, believe that a settlement is underway, and given the new Trump administration, may drop the case entirely. The delay, with a final settlement, comes as Ripple’s legal team negotiates more reductions in Judge Torres’ ruling. The team remains optimistic as the SEC winds down its ‘war on crypto’ and numerous lawsuits against crypto businesses. Therefore, the original ruling by Judge Torres may be wholly dropped given the radical changes in regulatory policies. The Ripple team initially saw Torres’ ruling as a success because the court ruled that the automated sales of tokens to retail traders did not constitute a securities transaction regarding the XRP sale. The SEC is completely reversing its ‘war on crypto’, cancelling its many legal battles with Coinbase, Kraken, and Cumberland. Ripple investors have patiently waited for their token to benefit from the new changes. Mark Uyeda, the new SEC chairman, has upended the department’s focus, reversing previous cases and even changing the entire perspective of operations. Ripple Labs, notably its legal team, sees this seismic change as indicating a complete removal of the legal case. Ripple’s legal team sees any compromise with the SEC, such as making a settlement, as an admission of guilt on their part. The SEC itself disagreed with Torres’ ruling because it disputed the findings that XRP sales did not constitute a securities transaction. The SEC, under previous leadership, challenged the court ruling in January and would prefer the original fee of around $1.95 billion.
Toncoin open interest (OI) has soared by 67% in the past 24 hours, reaching $169 million, as speculation intensifies over Telegram founder Pavel Durov’s departure from France. This marks the highest level of open interest in 42 days, according to CoinGlass data . Highest Toncoin OI Levels in Over a Month On March 15, reports surfaced that Durov had left France, where he had been detained for six months following his August 2024 arrest. Shortly after, Toncoin (TON) saw a significant uptick in trading activity, with its price jumping 17% to $3.45, per CoinMarketCap data . Toncoin serves as the native cryptocurrency of The Open Network (TON), which powers Telegram’s Mini App ecosystem. The recent surge in open interest signals increased market engagement, particularly among derivative traders who are betting on further volatility. Crypto analysts have taken note of Toncoin’s price action, with Crypto Billion, a popular trading resource, suggesting that TON is stabilizing near key support levels and could be entering a long-term accumulation phase. However, if this rally loses steam, a return to the $3 level could lead to $18.8 million in long positions being liquidated. Market Response Mirrors August 2024 Arrest This is not the first time Toncoin’s open interest has reacted to news surrounding Pavel Durov. When he was arrested in August 2024 , TON’s open interest spiked by 32% within a day, while its price dropped nearly 12%. Durov’s legal troubles have been closely watched by the crypto community, particularly given concerns that his arrest could set a precedent for crackdowns on privacy-focused services. He was accused of operating a platform that facilitated illicit transactions, a charge that sparked widespread debate over the role of decentralization and regulatory oversight in the digital economy. His reported move to Dubai, a jurisdiction with no extradition agreements with several countries, could have long-term implications for Telegram and the broader TON ecosystem. Just two months ago, Telegram announced it would discontinue support for all blockchains except The Open Network, reinforcing its commitment to the TON ecosystem. The post Toncoin OI Surges 67% Amid Reports of Pavel Durov’s Departure from France appeared first on TheCoinrise.com .
Russian oil companies are using Tether to convert Chinese yuan and Indian rupees to Russian roubles to make the transaction process smoother. This bypasses Western sanctions and establishes a more independent way to conduct cross-border transactions. Anton Siluanov, Finance Minister, said the changes started to take effect after the legal framework was amended in August 2024, allowing mining companies to transact with cryptocurrency. This was done to overcome trade disruptions caused by Western sanctions and the US war in Ukraine. A Chinese buyer, for example, pays a banker offshore in exchange for Russian oil. The banker then converts the money into crypto and sends it to Russia, where it is finally converted into roubles. An anonymous source for Reuters claims that transactions like this occur every month for tens of millions in dollars. The source claims to be familiar with the process and has seen it take place. Fiat currency, however, remains the main medium for Russian oil trade despite numerous sanctions from Western countries. Russia, meanwhile, has been using multiple methods to bias sanctions, including using other currencies, such as the United Arab Emirates dirham, to make large-scale cross-border payments. China has remained cautious of cryptocurrencies despite Russia using stablecoins for cross-border payments. In 2021, the country essentially banned digital assets from the mainland. However, Hong Kong has embraced the new technology and even become a global hub for digital asset innovation. Russia has embraced crypto cautiously. This week, it created an Experimental Legal Regime (ELR), allowing a limited group of wealthy investors to trade cryptocurrencies for three years. Crypto-based cross-border payments in Russia only constitute a small fraction of the $192 billion oil trade; however, this shows the practicable use of crypto in avoiding large-scale sanctions. Other countries like Iran and Venezuela, have also used similar strategies to avoid external sanctions. Bitcoin, and cryptocurrency in general, was designed from the start to resist censorship, and thus proved to be quite an effective technology in facilitating payments. The Ukraine conflict was a catalyst for this change in global payment processes, revealing a lack of consistency regarding sanctions and providing a new use case for the digital assets market. America will most likely monitor these blockchain transactions to see whether they continue to challenge traditional forms of finance and hegemony. Russia may emerge from this conflict as a major contributor to digital asset technology, inspiring other nations to use similar means and regaining economic stability in uncertain times. Regulatory barriers continue to block cryptocurrency despite a strong case for Blockchain technology and a noticeable weakness regarding traditional reserves as a method to enable cross-border trade in a safe, reliable, and timely manner. Russia has made efforts to adopt the BRICS payment system and has attempted to adopt the currencies of trading partners, but alas, it has continued to fall back on using dollars, euros, and the SWIFT standard for transactions. Trading partners, like China, are therefore exposed to the secondary effects of Western sanctions, limiting trade opportunities for the two countries. In August 2024, Russia expanded its mining regulation, requiring industrial miners to register with a government database, comply with consumption restrictions, and report ongoing operations. The regulation also included the use of Russian-mined cryptocurrency to facilitate foreign transactions, cross-border operations, and international settlements. One of BRICS’ strategies is for member states to build sovereign technological infrastructure so that they are less reliant on Western technology. BRICS stipulates that members should retain technology control to limit Western hegemony from dominating supply chains. Russia has started embracing sovereign technologies, such as Sberbank launching a digital assets project in 2022, forming part of a larger trade and global independence project. In December 2024, a Russian lawmaker suggested that Bitcoin, due to its decentralized design, should be used to reduce reliance on western international finance systems. He further indicated that a Bitcoin reserve should be created, despite the ongoing criticism of such a reserve. The recent mining legislation, which included a section on cryptocurrency, may be a vital step for Russia to adopt digital asset technology, and it may continue to develop over the coming months and years. After all, Bitcoin may be a useful transition technology, from the preferred American standards, to a new and developing BRICS way of handling transactions. The case for Bitcoin as a Russian reserve currency appeared good in December 2024, as the digital asset continued to see market highs exceeding $100,000. Many see the asset as a tool to provide an extra layer of economic resilience during uncertain times and under the constant threat of global sanctions. Russia may continue to invest in digital asset technology, and more so as Bitcoin adoption rises in popularity.
The ongoing surge in XRP’s price against Ethereum (ETH) has sparked curiosity about a potential shift in market dynamics within the cryptocurrency ecosystem. As of March 15, XRP is witnessing
The Terra Luna Classic token is showing signs of bottoming after crashing by over 90% from its all-time high. Terra Luna Classic ( LUNC ) price has found strong support at $0.00005385, where it has failed to drop below since its inception. That is a sign that the coin may be on the cusp of a bullish breakout. You might also like: THORChain ‘eerily similar’ to Terra Luna implosion: Osmosis co-founder Potential catalyst for LUNC price LUNC is hitting a 406 billion token burn milestone. Data shows that the network incinerated over 280 million tokens in the last seven days, bringing the total tokens burned to 406 billion. Over 336.2 billion LUNC tokens have moved to the burn wallet, while almost 70 billion of these coins have been burned on-chain. Most of these burns were from Terraform Labs, which a U.S. bankruptcy court ordered. Binance, the biggest crypto exchange, has also been the most active LUNC burner in the industry. It has burned over 71 billion tokens in the past three years, and has consistently supported all of its upgrades. Meanwhile, more LUNC holders are staking them. That’s an optimistic sign that, perhaps, the token will bounce back. The LUNC staking ratio has risen to 15.85%. That’s its highest level since Nov. 10, 2024. A high staking ratio, especially when a coin is falling, is a highly bullish sign. LUNC price shows bottoming signs Terra Luna Classic price chart | Source: crypto.news The weekly chart shows that the Terra LUNA Classic price dropped to a low of $0.000054 this month. This was a notable level as the coin failed to drop below it in July and September last year. It also failed to move below the price in 2024. The last time LUNC’s price dropped below this level was in June 2022, when it dropped to a low of $0.00003440. This drop turned out to be a false breakdown, too. Therefore, there is a likelihood that the Terra Luna Classic price has formed a quadruple bottom — a popular bullish reversal sign. A bullish breakout may see it jump to the next key resistance at $0.0001797, the highest swing in November last year. This price is about 180% above the current level. A drop below that support level will signal more downside to $0.000034. LUNC’s history The LUNC token, originally known as the Luna token, was created by Do Kwon and Daniel Shin, co-founders of Terraform Labs. Terraform Labs was based in South Korea, and they launched the Luna token as part of the Terra blockchain ecosystem. The project aimed to create a stablecoin (TerraUSD, or UST) through an algorithmic mechanism tied to Luna. After the UST stablecoin de-pegged from the U.S. dollar in May 2022, the value of Luna (now LUNC after a rebranding) crashed. This led to a massive loss in value and the collapse of the Terra ecosystem. Afterward, a hard fork was created, leading to the introduction of Terra 2.0, and a new token was issued to replace the old one. Read more: LUNC price could soar as Terra Luna burns 1.34b tokens
XRP ( XRP ) price versus Ether ( ETH ) reached its highest level in five years over the weekend, extending its recovery. On March 15, the XRP/ETH pair touched 0.00128 ETH for the first time since April 2020. That amounts to a 925% rebound when measured from its all-time low of 0.00013 ETH established in June 2024 and approximately 620% gains since November 2024, when Donald Trump won the US presidential election. XRP/ETH weekly price chart. Source: TradingView XRP potential breakout versus ETH The XRP/ETH rally is fueling speculation among market watchers that XRP could flip Ether to become the second-largest cryptocurrency by market capitalization. For instance, analyst Dom highlights 0.0012 ETH as a historically significant resistance level, a threshold that has consistently preceded explosive rallies in past cycles. He notes that XRP has gone parabolic after breaking this resistance, delivering gains of at least 160% in previous instances. XRP/ETH 12-hour price charts. Source: TradingView/Dom He illustrated the same with three key breakout points—in early 2017, late 2017, and 2018 when XRP’s surged against Ether following a confirmed breach of the 0.0012 ETH resistance. As of March 16, XRP was once again testing this critical level. If history repeats itself, even a partial rally of 80% would be enough for XRP to flip ETH in market capitalization, DOM suggests, especially as Ether’s price risks more downside in 2025 . Related: XRP price poised for 46% gains after Ripple secures first Dubai license At $138 billion, XRP’s market cap is less than $100 billion short of hitting Ethereum’s. Moreover, XRP’s fully diluted valuation (FDV) briefly surpassed Ethereum's earlier this week. For context, FDV represents the total theoretical value of all tokens, including those not yet in circulation, whereas market capitalization only accounts for tokens currently in circulation. Why is Ethereum underperforming XRP? XRP’s market dominance has grown by over 300% since Trump’s reelection on Nov. 5. XRP.D vs. ETH.D daily price chart. Source: TradingView The same period has witnessed Ethereum losing its market share by over 35.50%, showing a clear lack of interest among traders for Ether compared to other top-ranking crypto assets. A key factor in this divergence is regulatory sentiment. Trump has positioned the US as the future " world’s crypto capital ,” appointing pro-crypto regulators and pledging to foster a more favorable environment. This shift has especially benefited XRP, which caters to enterprise users, particularly as Ripple unveiled an institutional DeFi roadmap in February. Meanwhile, Ethereum has slumped due to rising competition from rival layer-1 blockchains, particularly Solana ( SOL ). The Dencun upgrade in March 2024, which slashed Ethereum’s transaction fees by 95%, was intended to improve scalability. However, it has also reduced ETH burn rates, increasing supply and weakening its deflationary appeal and “ ultrasound money ” narrative. ETH supply rate since the Merge. Source: UltraSound Money At the same time, Solana’s dominance has risen, with its trading volume now rivaling Ethereum and all its layer-2 chains combined. The network’s faster and cheaper transactions have made it the go-to platform for DeFi activity, memecoin trading , and NFT markets, which Ethereum previously dominated. This shift has eroded Ethereum’s market share, particularly among traders and developers seeking high-speed, low-cost transactions. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin’s unpredictable price swings could lead to a significant market shift, as analysts weigh the cryptocurrency’s future amidst increasing volatility. Even with bearish forecasts, Bitcoin maintains a solid position, currently
Could Bitcoin’s volatile swings soon unleash a surprising breakout?