Cryptocurrency analyst il Capo of Crypto evaluated the general situation of Bitcoin in his latest statement. Continue Reading: Bitcoin in the Red Zone: Legendary Analyst Reveals What to Expect Next – Should We Worry?
The new Bitcoin Hashrate Futures, a regulated derivative for hedging and investing in Bitcoin mining, is now available in the US. The post Luxor and Bitnomial launch first Bitcoin mining derivative in the US appeared first on Crypto Briefing .
European Union (EU) researchers think the convergence of blockchain technology and artificial intelligence (AI) could have “significant potential.” In a new report, the EU’s Blockchain Observatory and Forum (EUBOF), an initiative that monitors distributed ledger developments across the continent, probed the current regulatory status of crypto assets in the 27 EU member states, as well The post European Commission Arm Says Convergence of Blockchain and AI Is ‘Upcoming Trend’ To Watch appeared first on The Daily Hodl .
Though XRP whales bought more tokens, the price cannot compete with LINK. Will things change?
Six Leading Cryptocurrencies of 2024: BlockDAG’s Impressive $34.7M Fundraising & Projected 800% Price Rise Dominates The dynamic world of cryptocurrency continually offers fresh coins and exciting initiatives. Among them, BlockDAG stands out with its innovative technology and significant market promise, securing its spot in the top six cryptocurrencies of 2024.
Chainlink (LINK) has recently been identified as a significant influencer within the altcoin sector. Noted by crypto analyst Michaël van de Poppe, LINK’s market movements are increasingly seen as a barometer for the broader altcoin ecosystem. This observation places Chainlink at the center of potential market trends, suggesting that its performance could presage movements across other cryptocurrencies. Related Reading: While Ethereum Shines, Top Analyst Reveals His Best ‘Under-Radar’ Altcoin Chainlink $16 Mark: Catalyst for Altcoin Market Optimism Van de Poppe’s analysis, shared on social media platform X, underscores the importance of Chainlink’s price stability around the $16 mark. Maintaining this level is crucial for sustaining LINK’s upward trajectory towards yearly highs. This sentiment reflects broader market optimism surrounding Chainlink, particularly as it navigates pivotal price points. Strong momentum for #Chainlink. Apparently, Chainlink is an indicator for the altcoins. If Chainlink does well, then I expect the altcoins to continue moving. As long as $16 holds, we’ll see a continuation on Chainlink towards the yearly highs. pic.twitter.com/nOl1r3gicW — Michaël van de Poppe (@CryptoMichNL) May 28, 2024 Over the past week, Chainlink has shown robust performance, registering a near 10% increase and stabilizing above the critical $16 threshold. Current trading prices are around $18.09. This uptrend coincides with a general bullish sentiment across the altcoin market, highlighted by the overall market cap for altcoins increasing from $930 billion earlier in the month to $1.156 trillion. This positive trend in the altcoin market is further exemplified by the major cryptocurrencies like Ethereum, BNB, and XRP, which, despite minor retracements, continue to show strong market potential. For instance, while these top altcoins have seen slight declines in the past 24 hours, Solana has experienced a 2.7% increase, which could indicate selective investor confidence in specific altcoins. Analysis and Predictive Insights So far, the altcoin market cap shows a recent breach and conversion of major resistance into support, marking a brewing upsurge in the altcoin market. Meanwhile, trader Tardigrade from the crypto analytics community has recently posited that the altcoin market could triple if the ‘Crypto Total Market Cap excluding Bitcoin’ successfully breaks out of its current inverse Head & Shoulders pattern. #Altcoin market will surge 3x if $Total2 (Crypto Total Market Cap excluding #Bitcoin) breakout this inverse Head & Shoulders Pattern. We are now at the end of the right shoulder. It is expected to breakout in a few weeks time according to this pattern.#Altseason #ETH #SOL #Alts pic.twitter.com/sIEZ99xwfg — Trader Tardigrade (@TATrader_Alan) May 26, 2024 This breakout is anticipated to occur within the next few weeks, marking a possibly transformative period for the altcoin market. Related Reading: Altcoin Season Soon? Quant Says This Ethereum Pattern Could Suggest So Echoing this bullish outlook, RektCapital points out the possibility of the Altcoin Market Cap achieving its highest weekly close since early April 2024, adhering closely to previously outlined projections. Featured image created with DALL·E, Chart from TradingView
On-chain data shows the Bitcoin mining hashrate has sharply rebounded from its post-Halving lows and has achieved a new all-time high (ATH). 7-Day Average Bitcoin Mining Hashrate Has Just Set A New ATH The Bitcoin network runs on a consensus mechanism known as the “proof-of-work” (PoW). In this system, validators called miners compete with each
A popular crypto analyst says technical indicators are suggesting altcoins are about to go parabolic. Pseudonymous analyst TechDev tells his 452,400 followers on the social media platform X that several indicators suggest the crypto market is replicating a 2020 pattern that led to a massive bull cycle. “The entire crypto market has just begun its The post Altcoins Poised To Rip in First Major Market Expansion Since 2021, According to Crypto Analyst – Here’s His Outlook appeared first on The Daily Hodl .
Starting May 30, U.K. digital bank Kroo will prohibit its customers from conducting cryptocurrency transactions. Kroo, a London-based digital bank, has announced that it will no longer allow its customers to conduct crypto transactions. This decision is in response to…
Starting May 30, U.K. digital bank Kroo will prohibit its customers from conducting cryptocurrency transactions. Kroo, a London-based digital bank, has announced that it will no longer allow its customers to conduct crypto transactions. This decision is in response to…