The post Hoskinson Explains Why Cardano; Cardano On Its Way To ATH Amidst Latest Developments? appeared first on Coinpedia Fintech News Amidst the broader market optimism, Cardano’s price has been showing impressive surges lately as evidenced by its recent rally. Additionally, a flurry of developments around its founder Charles Hoskinson has also sparked market optimism. Why Will It Reach An ATH? In a latest X post, Hoskinson has praised the Cardano community. He explained why people …
According to recent data from Coinglass, as of November 17th, the total open interest for Bitcoin futures contracts across all exchanges has reached an impressive figure of 602,700 BTC, equating
Real Vision’s head crypto analyst Jamie Coutts says that the US dollar is on the verge of foiling the rally for Bitcoin (BTC) and digital assets. While the long-term bullish structure is still intact, Coutts says that a strong dollar is threatening to derail BTC’s movement in the short term. “The macro backdrop has soured. The post Real Vision Analyst Jamie Coutts Issues Bitcoin Warning Amid Strong Dollar Rally, Says Macro Backdrop Soured appeared first on The Daily Hodl .
Ethereum is navigating a pivotal moment as it strives to regain its competitive edge amid growing concerns about its recent performance. Ethereum has struggled to keep pace with top competitors,
XRP has seen a remarkable surge, surpassing the $1 mark and hitting a three-year high, driven by favorable regulatory news and increased investor activity. This impressive price increase of over
Elon’s Car could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Elon’s Car (ELONCAR), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because ELONCAR is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Elon’s Car can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to
Ki Young Ju compared cryptocurrency traders to game players and Web3 projects to game developers, and memecoins dominance for now. Read original article on coincu.com
Shiba Inu (SHIB) is garnering attention once more due to a significant rise in its burn rate. Recent statistics indicate a 115% increase in the burn rate, with more than 16.1 million SHIB tokens incinerated in a single week. This increase is noteworthy since it diminishes the circulating supply of SHIB, potentially exerting upward pressure on its price if demand remains constant or escalates. Related Reading: Bitcoin To $800K? Galaxy Digital CEO Unveils Bold 5-10 Year Forecast A Community-Led Initiative The current increase in SHIB’s burn rate is mostly propelled by community efforts to augment the token’s worth. Advocates have united to endorse multiple burn events, transferring tokens to inactive wallets and thereby eliminating them from circulation. The total amount of SHIB burned since the year started is a whopping 410 trillion tokens, proving the community’s will to reduce supply and improve scarcity. This milestone corresponds with overarching economic principles: when supply decreases and demand remains stable or increases, the likelihood of price appreciation escalates. The Shiba Inu community asserts that these initiatives would enhance SHIB’s market standing and draw new investors seeking opportunities in the cryptocurrency sector. Market Reaction And Price Fluctuations As a result, the price of SHIB rose following news of this increased burn rate. The value of the token jumped by 27% to around $0.00002753, levels that hadn’t been witnessed for months. A good sign of the state of the market mood among investors is the community’s proactively managed supply strategy. $SHIB is repeating history, and you know what that means… The parabolic phase is coming! 📈 Are you ready for some gains? 🚀 #SHIB #Crypto pic.twitter.com/C0rNQ2faL4 — SHIB Bezos (@BezosCrypto) November 14, 2024 Additionally, whales in this context have actually been driving this positive sentiment. Major SHIB holders have undertaken large burn transactions, which have then diluted the circulating supply and challenged the community. The bigger whales are going to nudge participation in the market from other, smaller investors with their increased activity in the coin. Related Reading: Solana Rising: Key Metrics Hint At Serious Ethereum Competitor Positive Outlook For Shiba Inu As Shiba Inu progresses, numerous analysts express optimism regarding its potential price fluctuations. Due to heightened burning, enhanced community involvement, and favorable market mood, SHIB may be poised for a substantial gain. Certain analysts forecast that, should prevailing trends continue, SHIB may see price escalations of up to 80% in the near future. At the same time, the Shiba Inu ecosystem will continue to mature with new upcoming projects. These developments should further strengthen user engagement and the overall value proposition of SHIB, even in a competitive marketplace. With a new high in the burn rate of Shiba Inu, this is more than just a good development for its community and investors; it means that by actively burning its supplies and encouraging participation, SHIB might strategically be well-positioned to grow as it continues navigating the evolving cryptocurrency landscape. Featured image from Dall-E, chart from TradingView
Is Ethereum on the verge of a renaissance despite recent concerns over its performance?
XRP has experienced a notable correction after reaching a three-year peak due to retail profit-taking and substantial whale sell-offs. The price surge to $1.26 was predominantly fueled by optimism surrounding