Algorand (ALGO) experiences a surge in user activity and whale inflows but struggles to break through key resistance levels, reflecting mixed market sentiment. Despite increased retail participation and whale accumulation,
Blockchain analytics firm Nansen reveals Algorand as the fastest growing blockchain by active users, marking a significant shift in user engagement across networks. Other notable performers include Avalanche, Berachain, and
Cryptocurrency analyst Miles Deutscher made a remarkable assessment about the altcoin season, which altcoin investors are eagerly awaiting, in his latest statement. Deutscher, who claimed that he could predict when the altcoin season would start thanks to the artificial intelligence model he developed, stated that he tested this model by comparing it with previous cycles and that the results were “surprising.” Deutscher recalled that the altcoin seasons in 2017 and 2021 offered increases of 1,000% to 10,000%, and said that such major movements have not yet been seen in the current cycle. He noted that apart from the partial increases experienced in April and November-December of last year, major altcoins generally performed poorly against Bitcoin. According to the analyst, there are several key reasons why this cycle is different from previous periods: Macroeconomic Conditions: While the pandemic-induced stimulus packages in the 2020-2021 period provided serious liquidity to the crypto market, this situation has been reversed in the current environment with the FED's balance sheet reduction policies. Institutional Bitcoin Investments: Bitcoin ETFs and the entry of giants like BlackRock are keeping capital in Bitcoin, which is leading to a weakening of the “capital flow from Bitcoin to altcoins” effect seen in previous cycles. Ethereum’s Weak Performance: Ethereum’s failure to make a strong breakout against Bitcoin is preventing the start of a large-scale altcoin rally. Low Individual Interest: Scandals such as UST, FTX and the losses experienced in the recent memecoin frenzy caused individual investors to move away from the market. Related News: Crypto Users Beware: Hackers' New Methods Have Emerged - What Steps Are Necessary to Prevent the Loss of All Assets? Miles Deutscher stated that the model called Altcoin Rally Score (ARS), which he developed by taking this data into account, consists of four basic indicators that will trigger the altcoin season: Bitcoin Dominance: Bitcoin dominance must fall below 60% and show a decline of 4 points in the 21-day period. Ethereum's Leadership: The ETH/BTC ratio must break above the 200-day moving average and make a new 90-day high. Altcoin Seasonal Index: If this index rises above 40 and rises for two consecutive weeks, it will indicate a broad-based rally. Trends and Individual Interest: Market sentiment, trend momentum, and stablecoin liquidity should show a positive trend. Deutscher predicts that the new altcoin season, which he defines as 3.0, will be shorter and more selective (sector-based) than previous cycles. He cited both the global liquidity crunch and the fact that the supply of newly released altcoins is much higher than in previous years as the main reasons for this. *This is not investment advice. Continue Reading: Experienced Analyst Reveals 4 Essential Conditions for the Mega Altcoin Season
"Dogecoin Millionaire" Glauber Contessoto still hasn't sold his DOGE, but now he's amassed enough Pepe to take on another title.
Despite rising users and whale inflows, ALGO needs stronger conviction to break current resistance.
Cryptocurrency prices retreated last week as investors locked profits, Bitcoin ( BTC ) and most altcoins will likely react to the upcoming U.S. consumer inflation data, which will impact the next action by the Federal Reserve. A lower-than-expected inflation figure could pressure the bank to cut interest rates. Some of the top coins to watch will be Flare ( FLR ), Aptos ( APT ), and Pi Network ( PI ). Flare Flare is a fast-growing layer-1 network whose token is valued at over $1 billion. It will be in the spotlight this week as it unlocks tokens worth over $35 million on Monday. In addition, its ecosystem is experiencing strong growth, with the total value locked at $188 million, up from $51 million in January. Also, its stablecoin market cap has jumped to $150 million from $5.2 million in May. The daily chart shows that the FLR token has pulled back in the past few weeks, moving from a high of $0.02220, to $0.018. It has formed a falling wedge, a popular bullish reversal sign. Therefore, it will likely have a bullish breakout, with the target being at $0.0220. Flare price chart | Source: crypto.news Aptos Aptos, a top layer-1 blockchain network, will be in focus this week as it unlocks tokens worth $53 million, equivalent to 1.8% of its float. Also, the market cap of all stablecoins in the network has jumped to a record high of $1.32 billion. APT token has been in a strong downtrend in the past few days, forming a descending channel. It has moved below the 50-day Exponential Moving Average, while the MACD and the Relative Strength Index have moved downwards. Aptos token will likely remain in this range, and possibly bounce back to the upper side of the range at $6. A drop below the lower side of the channel will point to further downside to $3.5. You might also like: Flipping Uniswap, Flopping on Price: PancakeSwap Paradox Aptos price chart | Source: crypto.news Pi Network The Pi Network token will be watched this week for two reasons. First, the network will continue unlocking over 68 million tokens this week, increasing the number in circulation. Second, the token has formed a slanted triple-bottom pattern and a bullish divergence pattern on the eight-hour chart. These patterns are often followed by a bullish breakout, which may happen this week. Pi coin price chart | Source: crypto.new Other crypto tokens to watch this week Other top tokens to watch this week will be Ethereum ( ETH ), Kekius Maximus, and Official Trump ( TRUMP ). Ethereum will be in the spotlight because it has formed a bullish flag and a golden cross, pointing to a rebound. Read more: Bitcoin price stalls as spot ETFs bleed for second week
After an extended correction throughout May, XRP price has begun showing early signs of stabilization above the $2.06 support zone. With price action breaking a key descending trendline on the 4-hour chart and holding gains around $2.21, short-term traders are eyeing the possibility of a bullish recovery as June 10 approaches. What’s Happening With XRP’s Price? On the weekly chart, XRP price today is trading around $2.21 after bouncing off the mid-range of its Fibonacci retracement zone. The price has rebounded over 7% from its local low of $2.06, retesting a declining resistance trendline for the third time. This level coincides with the 38.2% Fibonacci zone, suggesting a critical juncture where bulls must hold ground for further upside. XRP price forecast (Source: TradingView) The XRP price action has remained volatile since failing to clear the $2.54 region earlier in May. However, this recent reclaim of the $2.20 zone, alongside bullish divergence on lower timeframes, signals growing strength. XRP Price Attempts Trendline Break on 4H Chart XRP price forecast (Source: TradingView) The 4-hour chart shows a clear break above a multi-session descendi… The post XRP (XRP) Price Prediction for June 10: Support Recovery in Focus as Bulls Attempt Trend Reversal appeared first on Coin Edition .
Crypto.com’s derivatives arm sued the state of Nevada’s gaming and gambling regulator over its block on sports event contracts. The fully regulated exchange claims the CFTC has jurisdiction over its sports contracts, not the gaming board. The lawsuit claims the Nevada Gaming Control Board (NGCB) is acting beyond the scope of its jurisdiction. NGCB Improperly Bans Sports Event Contracts Business associates of Crypto.com’s North American derivatives business, North American Derivatives Exchange, Inc., sued the Nevada Gaming Control Board (NGCB), alleging the board impeded Crypto.com from offering “derivative contracts that reference sporting events on its federally regulated market.” In a lawsuit filed on June 3, 2025, the exchange asserts that the NGCB asserted jurisdiction by mistaking that contracts traded on Crypto.com constitute “wagering” on sporting events according to the state’s gaming laws. The lawsuit details: “Nevada has purported to assert jurisdiction over CDNA, a federally regulated designated contract market (“DCM”), on the mistaken premise that contracts traded on the DCM constitute “wagering on sporting events” subject to Nevada gaming laws.” In its lawsuit the exchange argues that federal law, the Commodity Exchange Act in this regard, affords the Commodity Futures Trading Commission (CFTC) sole jurisdiction over these events. Federal Law Prevails Crypto.com asserts that the state of Nevada’s gaming commission acted beyond its jurisdiction. In an excerpt of the lawsuit, the exchange claims: “NGCB has no authority to regulate, let alone prohibit, derivatives trading offered by a federally regulated DCM [designated contract market] operating pursuant to federal law.” The exchange challenged Nevada state-level governance, taking issue with its interference with a federally regulated platform. Crypto.com and several other exchanges are federally regulated and report to the Commodity Futures Trading Commission (CFTC). The June 3 lawsuit cites two recent federal injunctions involving KalshiEX, a predictions marketplace, where courts found that state gaming boards in Nevada and New Jersey (New Jersey Division of Gaming Enforcement) could not interfere in federally approved event contracts. Bloomberg reported in March 2025, KalshiEX said the following over Nevada’s attempted state-level interference: “Nevada’s attempt to regulate Kalshi intrudes upon the federal regulatory framework that Congress established for regulating futures derivatives on designated exchanges.” KalshiEX’s lawsuit specified: “The Commodity Exchange Act explicitly and unambiguously delegates the ‘exclusive’ power to oversee, approve, and regulate futures trading on registered exchanges to a federal agency – the CFTC.” Kalshi’s lawsuit came after Nevada and New Jersey regulators issued cease-and-desist orders instructing it to stop sports contracts. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Over the past three years, bitcoin mining gear has evolved dramatically—from machines cranking out massive terahash to widely available rigs boasting efficiencies under 20 joules per terahash (J/TH). At the World Digital Mining Summit last month, Bitmain pulled back the curtain on a machine delivering over a petahash per second (PH/s) with an energy use
Andre Cronje’s Sonic token is in freefall, having erased almost $1.3 billion in market capitalization since its relaunch in January. Sonic ( S ) price crashed to $0.3775 on Sunday, down by over 61% from its highest point this year. This crash has brought its market capitalization to $1.9 billion, down from $3.15 billion in January. Sonic token has plunged as its ecosystem continues slowing down. Data shows that the stablecoin market cap has plunged to $446 million, down from $597 million earlier this year. A falling stablecoin supply in a chain signals that activity in the network is fading. You might also like: Chart of the week: Solana indicators point north, bulls test $165 target Further data shows that Sonic’s total value locked in its decentralized finance has plunged from nearly $2 billion in May to $1.53 billion. Most of this weakness was driven by outflows from AAVE, Sio Finance, Pendle, and MEV Capital, which have shed over 10% in assets in the last 30 days. This slowdown means Sonic is not making as much money as it did a few months ago. Its daily chain revenue dropped to $9,600 on Saturday from a record high of over $42,000 in May. Sonic token has also dropped as the funding rate across all exchanges has turned negative in the past few months. Santiment data shows that the funding rate fell to 0.05% on Saturday, its lowest point in over a week. A falling funding rate signals that investors anticipate its future price to be lower than the spot one. Sonic crypto price technical analysis S price chart | Source: crypto.news The 12-hour chart shows that the S price has been in a free fall in the past few weeks. It plunged to a low of $0.3810, a key level that coincided with the lowest swing in April. This price was also the neckline of the double-top pattern at $0.6185. A double-top is one of the most popular bearish signs in technical analysis. The Sonic token has remained below the 50-period moving average, while oscillators point downwards. Therefore, it will likely continue falling as sellers target the support all-time low of $0.3151, its lowest point in February. Read more: Cardano price faces downside risk amid weak network activity