Tron’s dramatic price recovery just before the much-awaited altcoin season is largely attributed to its adoption by the burgeoning meme coin economy.
Magic Eden, a household name in the Non-FungibleTokens (NFTs) world, is back in the spotlight with a bold initiative The post Magic Eden To Aridrop ME Token To Eligible Users appeared first on TheCoinrise.com .
Coin Center warns that US policies on crypto tax reporting and sanctions could deter innovation, even under Trump’s pro-crypto administration.
Donald Trump is reportedly offering former Bakkt CEO Kelly Loeffler the position of Secretary of Agriculture. Sources close to the matter have said the president-elect is meeting Loeffler at Mar-a-Lago to finalize the deal. Though as always with Trump, nothing is certain until he announces it himself. Loeffler is no stranger to Trump’s circle, having
As crypto evolves, select digital currencies show promise for explosive 2024 growth, drawing keen investor interest. #partnercontent
As crypto evolves, select digital currencies show promise for explosive 2024 growth, drawing keen investor interest. #partnercontent
Pepe whales continue accumulating as a new wallet scoops up 309. 6 billion tokens worth $6.45 million.
The price of Bitcoin picked up this week from where it left off in the previous week, forging successive all-time highs in the past seven-day span. Over the last few days, the big question on everyone’s mind has been — when will the premier cryptocurrency surpass the $100,000 level? While most investors are worried about a short-term target, some market participants are more concerned about the long-term prospects of the world’s largest cryptocurrency. According to the latest on-chain data, it appears that the price of Bitcoin could see a shakeout sooner than expected. Will The Rising Bullish Sentiment Sustain The Rally? According to market intelligence platform IntoTheBlock, the Bitcoin funding rates have witnessed a notable upswing in recent days. The relevant indicator here is the “funding rate” metric, which tracks the periodic fee exchanged between traders in the derivatives (perpetual futures) market. Related Reading: Cardano Gains Steam: ADA Sights More Growth After Breaking $0.8119 When the funding rate is high or positive, it implies that the long traders are paying traders with short positions. Typically, this direction of the periodic payment suggests a strong bullish sentiment in the market. On the other hand, a negative value of the funding rate metric means that investors with short positions are paying traders with buy positions in the derivatives market. This trend suggests that the market is shrouded by a bearish sentiment. Data from IntoTheBlock shows that the Bitcoin funding fees for perpetual swaps have increased by more than 10% — and up to 20% on major trading platforms. However, the on-chain firm noted that this continuous funding rate growth could hint at speculative overheating, potentially resulting in market corrections. According to IntoTheBlock, one of the possible catalysts of this bullish sentiment is the United States government’s approach to crypto under Donald Trump. With the “strategic Bitcoin reserves” more of a possibility under the incoming US president, investors are banking on Bitcoin surpassing a six-figure valuation. As of this writing, the flagship cryptocurrency is valued at around $98,400, reflecting a 1% increase in the past 24 hours. Bitcoin Perpetual Futures Market Remains Restrained — What It Means In a recent post on the X platform, Glassnode revealed that the Bitcoin perpetual futures market “remains restrained.” This suggests that several traders are still approaching the market with caution despite the steady price climb of BTC in recent weeks. Related Reading: Dogecoin Price Set To Skyrocket By Saturday, Warns Crypto Analyst Data from Glassnode shows that the Bitcoin funding rates are just above 0.01%, which falls short of the March 2024 level (~0.07%) when the BTC price reached a local top. Ultimately, this suggests that there is still room for growth in the value of the premier cryptocurrency. Featured image from iStock, chart from TradingView
Bitcoin (BTC) continued to make headlines Saturday as it approached the highly anticipated $100,000 milestone.
Polkadot (DOT) has seen an extraordinary rally, surging over 100% in the past month. The cryptocurrency has broken out of a prolonged downtrend channel, marking a reversal in its price trajectory. Following this breakout, DOT reclaimed the $8 level, a resistance-turned-support zone from previous cycles. Analysts suggest that this level is crucial for the continuation The post Will Polkadot Price Continue To Rally Following 100% Surge? appeared first on CoinGape .