Shibaswap would now operate on both the Ethereum and Shibarium networks.
An analyst has pointed out how Bitcoin recently closed below a historically important on-chain level, a failure to reclaim which could spell trouble for BTC. Bitcoin Fell Below Short-Term Holder Cost Basis In Latest Crash In a new post on X, Maartunn discussed BTC’s recent close below the realized price of the short-term holders and stressed its importance in reclamation. The “realized price” here refers to an on-chain indicator that tracks the price at which the average investor on the Bitcoin network acquired their coins. In other words, it measures the average cost basis in the BTC market. Related Reading: Bitcoin On Track For $1 Million Per BTC “Fair Value”, Analyst Says When the spot value of a cryptocurrency is below this metric, it means that the average investor in the market is carrying their coins at a loss right now. On the other hand, being above the indicator suggests that the holders as a whole are in the green currently. In the current topic, the realized price of the entire Bitcoin market isn’t of interest but rather of only a subsection: the short-term holders (STH). The STHs are the BTC investors who bought their coins within the past 155 days. These holders represent the inconsistent side of the market, who easily show a reaction whenever a change like a crash or rally occurs in the sector. Now, here is a chart that shows the trend in the realized price specifically for these investors over the past year: The price of the asset appears to have seen a cross under this metric in recent days | Source: @JA_Maartun on X The realized price of the Bitcoin STHs is floating around $58,500. During the latest crash, Bitcoin went as low as below $57,000, meaning that the plunge has put these investors under pressure. Historically, the average cost basis of the STHs has been significant for the cryptocurrency, as it has taken turns acting as support and resistance, depending on the market’s phase. During bullish trends, this metric often acts as a point of support. The chart shows that when Bitcoin had declined near this level earlier in the year, it had found a rebound. The metric acts as resistance during bear markets, keeping the price below it. These patterns may be related to how investor psychology works. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag In bullish periods, the STHs might view their cost basis as a profitable buying opportunity, so they accumulate during dips in it, thus helping the price turn around. In bear markets, these investors could look at the level as a point of exit, as they may not believe the price will go up any further. After closing below the STH realized price earlier, Bitcoin is now fighting to reclaim this historical level. It now remains to be seen if support will once again be found or if the level will truly become lost. BTC Price Bitcoin has climbed back above the STH realized price, trading above $59,300. This is certainly a sign in the positive direction, but it’s hard to say whether this recovery will last. Looks like the price of the coin hasn't yet recovered much since the crash | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, CryptoQuant.com, chart from TradingView.com
In a significant development, MoonPay, a crypto payment platform, has announced that users in the United States can now easily buy and sell over 110 cryptocurrencies using PayPal. The integration, unveiled Thursday, simplifies transactions for new MoonPay users who already have a PayPal account and regularly use it for online transactions. Users can fund their
Before you reading,Don't miss coins like PEPE again! Click here to find new PEPEs! JPMorgan analysts have recently expressed uncertainty about the future of cryptocurrencies, advising a cautious approach in the short term. The financial giant’s conservative stance is... Read the full article for FREE at COINOTAG!
Ethereum's price reflects the broader altcoin market trends. Recent trading patterns suggest potential for price recovery. Continue Reading: Ethereum Price Trends and Potential Movements
In recent evaluations by JPMorgan analysts, cryptocurrencies’ future appears to be uncertain. Despite the sector’s rapid expansion and increasing mainstream acceptance, the financial giant advises a cautious approach in the short term. This conservative stance stems from “diminishing retail interest” and a “scarcity of positive market catalysts.” Related Reading: Crypto Witch-Hunt: Experts Criticize DOJ For
Shiba Inu (SHIB) is capturing significant attention following a colossal transfer of tokens and a prediction of a bullish breakout. This event has piqued the curiosity of both traders and analysts alike, sparking debates and expectations about the future trajectory of this popular meme coin. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag Large SHIB Token Transfer Sparks Speculation Recently, the crypto community witnessed an extraordinary transaction involving the movement of nearly two trillion SHIB tokens from the trading platform Robinhood to an undisclosed wallet. This transfer, identified by Whale Alert, a blockchain tracking service, involved two tranches of 875 billion SHIB each, culminating in a total of 1.75 trillion SHIB. Valued at approximately $39.2 billion, this movement has led to rampant speculation about the potential implications for the SHIB market. 🚨 875,000,000,000 #SHIB (19,666,682 USD) transferred from #Robinhood to unknown wallethttps://t.co/hxSvwFxC0E — Whale Alert (@whale_alert) May 1, 2024 The timing and scale of this transaction have raised questions about its motives, whether it be a strategic move by a major investor or simply a reallocation within diverse portfolios. The lack of clarity surrounding the destination wallet adds intrigue and uncertainty within the trading community. Bullish Forecasts Amidst Market Corrections Amidst this massive token movement, cryptocurrency analysts have been closely monitoring SHIB’s performance. Notably, Ali Charts, a respected figure in the crypto analysis sphere, has projected a potential bullish breakout for SHIB. Ali suggests that SHIB could reach as high as $0.000072323 and advises traders to consider buying around the $0.000018343 mark to capitalize on the anticipated surge. Meanwhile, Shiba Inu’s 8% decline last week, juxtaposed with a 7.8% increase in the past day, illustrates the volatile nature of meme coin investments. Analysts like Bunchhieng have recently speculated that Shiba Inu could reach $0.0001. This projection is based on SHIB’s 2021 rally patterns, suggesting a repeat could propel the meme coin to new highs. Bunchhieng emphasized that similar historical trends might lead to significant price movements for Shiba Inu, considering the increased burn rate that could positively impact its valuation. Addressing skepticism regarding SHIB’s market cap and potential growth, Bunchhieng reassured that the crypto sector often defies conventional expectations, opening possibilities for substantial gains. Related Reading: Shiba Inu Exchange Balances Reach New Low As SHIB Bounces Off Golden Ratio Adding to the optimistic forecasts, notable cryptocurrency investor Armando Pantoja predicted that SHIB could climb to $0.001 by the end of 2025, citing long-term growth factors and market dynamics. My #crypto price targets for 2024-2025$BTC: $100k-$250k$ETH: $10k-$15k$XRP: $3-$6$SHIB: $0.001+$DOGE: $1$SOL: $500-$1000$AVAX: $100+$ICP: $100+$INJ: $100-$200$PRO: $10-$20$HBAR: $5-$10 — Armando Pantoja (@_TallGuyTycoon) April 24, 2024 Featured image from Unsplash, Chart from TradingView
Polygon’s daily active addresses reached an all-time high while MATIC’s price gained bullish momentum
Ripple recently conducted a series of transactions involving its XRP token, raising temporary concerns among some market participants. Although Ripple’s preprogrammed escrow releases occur monthly, community members regularly raise concerns. The company has not shown a shift in strategy to warrant worries of abandoning XRP or a major selloff, but the staggered escrow releases are The post Ripple Unlocks 500 Million XRP, Locks 800 Million XRP appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
MicroStrategy has proposed a new Bitcoin-based strategy for combatting online spam – though Bitcoiners are skeptical as to whether it’s a good idea. During the annual MicroStrategy World conference on Wednesday, the company’s executive chairman Michael Saylor unveiled “MicroStrategy Orange” – an open-source decentralized identity solution built on Bitcoin. What is MicroStrategy Orange? MicroStrategy described