On Monday, an attacker minted $200 million worth of GALA tokens but managed to sell only a portion of them. It’s just been returned.
On-chain data shows that Bitcoin addresses with zero sales histories participated in a big accumulation before this recovery run started. Bitcoin Inflows To Accumulation Addresses Sharply Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, the accumulation addresses on the Bitcoin network have shown some significant inflow activity recently. The “accumulation addresses”
The SEC's new directives and Ethereum's classification debates raise uncertainty over the potential ETH ETF approval.
The crypto industry has seen a positive shift with the recent market recovery. After a Q1 full of bullish sentiment, Q2 saw many sectors of the crypto space brewing a pessimistic feeling toward altcoins. Related Reading: Why Is The Ethereum Price Up 20% Today? Experts and market watchers have reassured investors that the price corrections were part of the cycle, predicting that the bullish rally would resume after the cool-off. Now, analysts consider that altcoins are about to embark on a “massive leg higher” for the alt season. Ethereum’s Surge Refuels Sentiment The crypto market is up by 8.3%, with a market capitalization of $2.55 trillion. This market surge has seen Bitcoin, the flagship cryptocurrency, soar past $70,000 in the last day. Similarly, the “king of altcoins” remarkably performed these past 24 hours. Ethereum (ETH)’s price has risen 22% since yesterday, surpassing levels not seen since mid-March. However, ETH is yet to test its all-time high (ATH) of $4,878, set nearly two years ago. As a result, the second-largest cryptocurrency has been criticized this cycle for being “a major disappointment.” In a turn of events, rumors of an approval of ETH spot Exchange-Traded Funds (ETFs) have refueled investors’ bullish tank, “erasing 65 days of down only” with a single daily candle. As ETH rallies, analysts believe it’s only a matter of time before the whole altcoins sector surges to kick off the altcoin season. Crypto analyst Rekt Capital highlighted the ‘Crypto Money Flow Cycle’, stating that, now that BTC and ETH have rallied, “it’s time for Altcoins to rally.” Is The Altcoins Season Here? During the slowdowns, market watchers have analyzed altcoins’ run this cycle. Altcoin Sherpa has stated that many tokens didn’t “run that hard” during round 1 of the bull run, resulting in his forecast of a 1-4 months “cool-off” period before resuming the uptrend. Despite the similarities with previous bull runs, the singularities of this cycle, like the approval of Spot Bitcoin ETFs and the Memecoin pre-sale frenzy, have made investors question whether they would see the alt season this time. Nonetheless, several analysts, who urged investors not to panic before, suggest the community prepares for the “maniac phase” ahead. Crypto Yoddha shared his chart for the 2024 altcoin cycle, stating that the dip was “just a higher low in an uptrend.” Per the chart, the altcoins market is now looking to retest the $1.27 trillion resistance level seen in March before testing last cycle’s $1.7 trillion ATH. To crypto Yoddha, “we’re looking at the bullish continuation” that will lead to a new market ATH during round 2. Similarly, Top analyst Michaël van de Poppe, who recently sold all his BTC for Altcoins, stated that the Altcoin market capitalization has finished its correction: The next step: reaching all-time high, which is ~60-70% from here. I think #Ethereum is likely reaching that in the next 2-4 months. Related Reading: Bulls In Control: Ethereum Longs See Biggest Candle Ever After ETF News Lastly, Crypto Jelle considers that “Altcoins are about to embark on a massive leg higher” after an 18-month accumulation period. The analyst compared the market’s recent breakout to a ball being held underwater, claiming that “it’s time for history to repeat.” Featured Image from Unsplash.com, Chart from TradingView.com
Farcaster has raised $150 million to expand decentralized social network with the just completed funding round lifting the startup’s valuation to $1 billion. The decentralized social media platform built on Ethereum blockchain and Optimism’s layer-2 ecosystem raised the millions of dollars in a funding round led by Paradigm. Also read: Coti V2 Developer Network Goes
Over the past week, there has been a notable surge in wallets engaging with Solana NFTs for the first time. Meanwhile, the Cardano price prediction appears bearish following its sustained downtrend. However, BlockDAG’s dashboard upgrade, which revealed the top whales, and its innovative low-code, no-code technology have propelled the project
Yesterday saw Litecoin LTC through a new milestone after struggling to regain strength for weeks. This came with a 10% surge near the $90 level, negotiating the next move while the bulls appeared back in the market. Litecoin has been in a slow recovery mode since it sharply rejected the
Amid the latest market evaporation, Binance BNB suddenly increased and broke out to a symmetry triangle following an insane weekly gain. While it aims to reclaim the previous high, we may see a slight pullback before rallying hard. Following several higher lows and lower highs formation in the past months,
Ethereum's explosive growth pushed market to new heights
Shiba Inu (SHIB), the popular canine-themed cryptocurrency, has expanded its trading reach with a new listing on Backpack, a British Virgin Islands-regulated crypto exchange and wallet provider. The announcement was made via a tweet from Backpack on May 5th, signifying the official launch of SHIB trading on the platform. Backpack: A Growing Crypto Exchange Launched The post Shiba Inu (SHIB) Wins New Listing appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .