Jul 4, 2024

According to U Today, The cryptocurrency market has been experiencing a significant downturn, leading to massive liquidations and sharp declines in prices. XRP, the seventh-largest cryptocurrency by market capitalization, has not been immune to this sell-off. Over the past 24 hours, XRP’s price has fallen by 6.15%, trading at $0.4517. Despite the bearish market conditions, XRP has seen a remarkable 63% increase in trading volumes, with over $1.55 billion worth of XRP changing hands according to CoinMarketCap data. This surge in trading activity reflects a growing interest in XRP from both buyers and sellers navigating the market’s heightened volatility.
$OM

This surge in trading volume occurs amidst a broader context of market fear and opportunism. As the total liquidations across various digital assets reach $321 million, traders are reacting in diverse ways. Some are liquidating their positions to prevent further losses, while others are seizing the opportunity to accumulate assets at lower prices. XRP's increased trading volume suggests it is attracting significant attention during this period of market instability, potentially positioning itself as a focal point for traders seeking to capitalize on the price fluctuations.
$ZK

Looking ahead, XRP’s price movements are likely to be closely watched by the market. The immediate support levels are between $0.41 and $0.46, where bulls are expected to defend vigorously to prevent further declines. On the upside, the critical resistance level to monitor is the 50-day Simple Moving Average (SMA) at $0.503. If buyers can push XRP above this level, it could signal the start of a strong recovery towards the 200-day SMA at $0.554 and eventually the $0.57 mark. Traders and investors should keep a close eye on these key levels as they navigate the current market conditions.
$XRP

#Xrp🔥🔥 #Market_Update #BinanceNews #6thTrade #layer1layer2

After a steep decline post-listing, NIBI appears to have entered a consolidation phase, signaling potential stabilization. The $0.050 support level has been tested multiple times, with strong buyer interest. The recent deviation to the downside was swiftly followed by a recovery back into the accumulation box, indicating renewed bullish momentum.
🔹 Aggressive Entry: Buy at the current price to capitalize on early signs of a potential breakout.
🔹 Conservative Entry: DCA down to the bottom level of the accumulation box for a more cautious approach.
📈 Profit Targets: Clearly outlined on the chart for optimized exit planning. 🚀✨
Exchanges: Bybit, Kucoin, MEXC, Gate.io
#WeAreAllSatoshi #BURNGMT #Layer1 #DEFİ #layer1layer2
NIBI/USDT

👀 Since the Dencun upgrade on March 13, 2024, Ethereum's layer-1 network revenue has plummeted by 99%! Despite a surge in layer-2 (L2) user activity and transactions—both doubling since March—fees for layer-1 transactions have dramatically dropped from $35.5M to just $578,000. 🙀

The #DencunUpdate , aimed at reducing layer-2 fees, has led to an explosion of competing L2 solutions. With 74 L2 and 21 layer-3 projects now vying for users, the race to offer the lowest fees has intensified, driving more activity off the #etherreum base layer. 🧐

This fierce competition has driven transaction costs down, counteracting the deflationary effects of EIP-1559 and causing a steady increase in ETH supply. Therefore, Ethereum has ceased to be a deflationary asset, which can negatively affect its price. 🤷

Is the L2 boom causing Ethereum’s base layer to suffer? 🤔🔍
#ETH🔥🔥🔥🔥 #EtheruemETF #layer1layer2
$ETH