🎯🎯🎯 Bitcoin Price Predictions by AI based on last 13 years price action data: 🔥🔥🔥

Short-term (by end of 2023): 🤏
- Bitcoin to rise from $30,000 to $40,000.
- Factors: Institutional accumulation, positive ecosystem developments, limited downside.

Short-term (early 2024): 🔼
- Bitcoin to reach $50,000-$60,000 pre-halving in April 2024.
- Factors: Halving anticipation, retail investor demand, potential short squeeze.

Medium-term (around 2025): 👀🐮
- Bitcoin ATH $100,000-$150,000.
- Factors: Institutional adoption rising, new products and services development, supportive regulatory clarity, Bitcoin's scarcity, macroeconomic turmoil hedging.

Long-term (post-ATH, possibly end of 2025): 🐻
- Bitcoin to consolidate around $40,000-$50,000.
- Factors: Profit-taking by some investors, increased miner selling, cautious investor attitude.

What you think, let me know in the comments... 🔥🔥😍😍😍

**Remember, this is a prediction and not financial advice. Actual Bitcoin prices may vary due to various factors.

$BTC #CryptoTalks #crypto #BinanceSquare #BinanceTournament

🐕🐾🔥 Shiba Inu: $100 to $1.6 Billions

If you had invested $100 in Shiba Inu at its first opening price and sold it at its all-time high, you would have made over $1.6 billion.👀👀👀

Shiba Inu was launched in August 2020 with an initial price of $0.000000000056. If you had invested $100 at that time, you would have purchased 1.8 trillion #SHIB tokens.
The price of SHIB reached its all-time high of $0.00008845 in October 2021. If you had sold your SHIB tokens at this time, you would have made over $1.6 billion.🚀🚀🚀

This is a staggering return on investment, and it is a testament to the volatility of the cryptocurrency market. However, it is important to note that past performance is not indicative of future results. It is also important to remember that investing in #cryptocurrency is a risky investment, and you should only invest money that you can afford to lose.🔥🔥🔥

Here is a table that summarizes your investment:🐮🐮🐮

Investment Purchase price Sale price Profit
$100 in SHIB $0.000000000056 $0.00008845 $1.6 billion

Please note that this is a hypothetical calculation, and it is not guaranteed that you would have made this much profit if you had actually invested in $SHIB

#crypto #BinanceSquare #TrendingTopic

😳😳😳 #bitcoin falls below $66k, exchange activity rises

Bitcoin (BTC) has experienced a strong bearish momentum following three days of consolidation, leading to its price dropping below the $66,000 mark. As of now, Bitcoin is down 0.9% over the past 24 hours, trading at $65,600. This decline has also caused Bitcoin's market cap to fall below the $1.3 trillion mark for the second time this month. Despite the price drop, Bitcoin's daily trading volume has surged by 125%, reaching $36.3 billion.

Data from Santiment shows a significant increase in $BTC exchange inflow, which rose by 137% over the past day, from 19,172 BTC to 45,356 BTC.

Interestingly, the amount of Bitcoin leaving exchanges has also seen a notable increase. According to Santiment, BTC exchange outflow surged by 119% in the past 24 hours, rising from 19,871 BTC to 43,493 BTC.

The overall Bitcoin supply on exchanges increased from 937,240 BTC to 939,230 BTC over the past day, resulting in a net inflow of 1,863 BTC. This increase in inflows is happening as the broader cryptocurrency market is facing bearish momentum.

Additionally, the global #CryptoMarket capitalization has declined by 2.6% in the past 24 hours, currently hovering at $2.485 trillion, according to CoinGecko data. The price aggregator reports that 96% of the leading 300 #cryptocurrencies , including meme coins, are in the red zone.

According to Santiment, Bitcoin's relative strength index (RSI) is currently at 46, indicating that the leading cryptocurrency is slightly undervalued.

Source - crypto.news

#BinanceSquareBTC #CryptoTrends2024

🔥🔥🔥 #metalcore launches Barony guild system to enhance #PvP experience

Blockchain-based game MetalCore has introduced a new guild program called the Barony system, as announced by Studio 369, the developers of the game. This system allows players to form self-governed factions, known as Baronies, which enhance their gameplay through accelerated progression, resource sharing, and recruitment opportunities. Members of these Baronies can collaborate to dominate large-scale PvP faction wars.

Each Barony includes a comprehensive hierarchy of roles, from the supreme Baron leader to Ministers, Knights, Initiates, and more. Higher-tier "Premium Baronies" receive additional privileges, such as exclusive in-game events.

Several prominent gaming guilds, including Yield Guild Games, Merit Circle, W3GG, Perion, Ancient8 Gaming, and Avocado #DAO , are already establishing Baronies. These guilds, which collectively have over 100 million #gamers , are poised to take advantage of early unlocking benefits at launch.

Studio 369 plans to roll out the Barony system in #Q3 2024, ahead of MetalCore’s full release on PC and the Epic Games Store.

Source - cryptobriefing.com

👉👉👉 The #bitcoin☀️ Developer Who Lost 25,000 $BTC

As an early adopter and significant contributor to Bitcoin's growth, his experiences underscore the critical importance of robust security measures. His story serves as a poignant reminder of the vulnerabilities early Bitcoin users faced.

Bitcoin Developer's Loss of 25,000 BTC

During Bitcoin's nascent stages, when the cryptocurrency traded for less than $0.05, a developer known as ALLINVAIN mined and traded Bitcoin. By 2010, he launched one of the pioneering Bitcoin exchanges, Bitcoin Express, enabling users to purchase Bitcoin using PayPal.

In the early days, he sold 1,000 BTC for just $5 and mined around 1,200 BTC daily with a laptop. By 2011, increased mining participation drastically raised difficulty levels. He supported the Bitcoin economy by facilitating the purchase of tangible goods, such as acting as a purchasing agent for Canadian users buying coffee cards. His active participation earned him the title of a "Bitcoin whale," amassing over 25,000 BTC.

In early 2011, Bitcoin surged to $30, marking its first major price bubble, valuing ALLINVAIN's holdings at about $500,000. However, on June 13, 2011, he suffered a devastating blow when 25,000 BTC was illicitly transferred from his wallet, now valued at approximately $1.6 billion. ALLINVAIN admitted a security lapse, suspecting his unencrypted wallet file was compromised by a trojan virus disguised as mining software.

News of the theft spread rapidly worldwide, attracting coverage from Forbes, which dubbed it the first significant Bitcoin theft. Despite conspiracy theories suggesting otherwise, ALLINVAIN took responsibility, attributing the incident to inadequate security practices.

Despite setbacks, ALLINVAIN stayed engaged in the Bitcoin community and later ventured into hosted mining to rebuild holdings. His experience underscores the importance of securing private keys offline and following strict personal security protocols for Bitcoin users.

Source - beincrypto.com

#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets

💥💥💥 Top Analyst Predicts Massive Bullish Breakout for $XRP Amid Coiling Pattern

XRP's current chart pattern suggests a potential breakout and surge beyond the $20 mark, driven by narrowing trading ranges and converging price movements. This coiling pattern, coupled with declining trading volumes, indicates a probable upward trajectory in the near term.

In addition to technical indicators, experts are optimistic about XRP's future price performance. One analyst forecasts a substantial rise from its current level around $0.50 to a range between $50 and $200. This bullish outlook reflects expectations of significant growth, potentially surpassing previous all-time highs.

Even analysts with a more neutral stance acknowledge XRP's resilience, noting its ability to maintain critical horizontal support levels. This consistency adds credibility to the positive projections for XRP's price movement.

Fundamentally, XRP possesses several strengths that could bolster its value. It enjoys legal clarity as it is recognized as not being a security in the United States. Moreover, its practical applications in real-world scenarios, utilizing advanced #XRPL technology, and partnerships with major financial institutions and corporations, contribute significantly to its appeal. XRP's efficiency in facilitating global fund transfers, strong community backing, and the expertise of Ripple's team further position it as a pivotal player in the financial sector, enhancing its potential for substantial growth.

Source - cryptonewsland.com

#cryptotrend2024 #BinanceSquareTalks #CryptoMarkets

🔥🔥🔥 #zkSync (ZK) Drops 20% Amid #Binance Listing And New Token Distribution Program

ZkSync's ZK Token Launch Controversy

- ZkSync, Ethereum's Zero-Knowledge #Layer2 scaling solution, faced controversy with its ZK token launch and airdrop. Initially, the announcement of the airdrop drew significant backlash from investors and the crypto community.

Airdrop Backlash and Criticism

- ZK Nation's plan to distribute 3.6 billion ZK tokens to 695,000 addresses sparked dissatisfaction. Many users received fewer tokens than expected, with some high-volume users reportedly receiving less than others with lower activity levels. Projects like Element and zkApes voiced frustration at being excluded despite generating substantial gas fees.

Anti-Sybil Filtering Concerns

- Criticism intensified due to perceived weaknesses in anti-Sybil filtering. Approximately 80 million ZK tokens were distributed to 47,000 suspected Sybil addresses, raising concerns about fairness and security.

Community Response and Clarifications

- ZK Nation addressed community concerns, clarifying issues around project exclusions, user eligibility, and Sybil detection methods. They defended their approach while acknowledging compromises in Sybil detection accuracy.

Binance Intervention and Distribution Program

- Binance intervened by announcing ZK listing and a new distribution program. This initiative aims to distribute 10.5 million ZK tokens to 52,000 users meeting specific transaction criteria, addressing community dissatisfaction.

Market Performance and Reaction

- Following its debut at $0.30, ZK's price briefly spiked to $0.32 before settling at $0.24, marking a 21% decrease. Despite volatility and mixed reactions, ZK's market cap is $900 million, with a fully diluted value of $5.1 billion.

Conclusion

ZkSync's ZK token launch highlights challenges in token distribution and community engagement. Despite initial setbacks, stakeholders remain cautiously optimistic about ZK's potential in the crypto market.

#CryptoTrends2024 #BinanceSquareAnalysis

🔥🔥🔥 Cardano (ADA) Reaches Lowest Level of 2024, Again, Shiba Inu (SHIB) Hits Critical Reversal Level, Ethereum (ETH) Hits Awful $3,600 Reversal

Cryptocurrency Market Snapshot

1. Cardano ($ADA )

Cardano (ADA) has faced persistent downtrends, breaching key support levels and hitting its lowest point since 2024. Technical indicators such as the 50-day and 200-day EMAs show a bearish trend, with low trading volume indicating weak buying pressure. Despite oversold RSI levels potentially signaling a buying opportunity, negative market sentiment persists due to unmet commitments and broader industry challenges.

2. Shiba Inu ($SHIB )

Shiba Inu (SHIB) approaches a critical support level, marked by the 200-day moving average, historically pivotal for price reversals. Lower trading volumes suggest reduced selling pressure, with the RSI nearing oversold territory, indicating potential undervaluation. These indicators suggest a possible reversal if SHIB maintains support, contingent on market developments.

3. Ethereum ($ETH )

Ethereum (ETH) aimed for a bullish reversal near $3,600 but faced strong resistance at the 26-day EMA, resulting in significant declines. Continued regulatory uncertainties and global market conditions hindered Ethereum's recovery. Further declines could test support levels around the 50-day EMA, with the market closely monitoring Ethereum's stability.

Conclusion

#CryptocurrencyMarkets reflect varied trends: Cardano struggles with declining support and bearish indicators, Shiba Inu approaches a potential reversal point amidst technical supports, and Ethereum faces resistance despite attempted recoveries. Ongoing market conditions and regulatory pressures continue to influence sentiment and price actions across these assets.

Source - u.today

#CryptoTrends2024 #BinanceSquareTalks #CryptocurrencyPredictions

💥💥💥 Top #CryptoAnalyst Predicts 50% Rally for Solana-Based #Memecoin🤑🤑 – Here Are His Targets

A trader renowned for his timely calls on altcoins believes that one memecoin is gearing up for a significant upward surge.
Known by the pseudonym Bluntz, the analyst shares with his 261,500 followers on X that while he holds a medium-term bearish view on the meme token dogwifhat ($WIF ), he anticipates the altcoin to experience a notable rebound.

Bluntz employs the Elliott Wave theory, a technical analysis method that seeks to forecast future price movements based on crowd psychology, which often manifests in discernible waves. According to this theory, a bearish asset typically undergoes a five-wave downward movement followed by a three-wave ABC correction upward.

From Bluntz's analysis, it appears that WIF has completed its five-wave downward pattern and is now poised to initiate an ABC corrective bounce.

However, following this bounce, Bluntz anticipates that WIF will decline to approximately $1.

As of the latest update, WIF is currently trading at $2.08.

Source - dailyhodl.com

#CryptoTrends2024 #CryptoNewsCommunity #BinanceSquareTrends

👉👉👉 Report Highlights #Ethereum ’s Potentially Dangerous back-end

Ethereum's Correlation Risks & the Upcoming Pecta Upgrade
Overview

- A recent report by the Liquid Collective & Obol highlights potential correlation risks that could impact Ethereum's Pecta upgrade in 2025. To maintain stability, the report emphasizes the need for improved diversity in cloud providers, operators, & clients.

Key Risks Identified

1. Correlation Penalties: Ethereum's correlated slashing model poses risks if multiple validators are controlled by a single operator. Simultaneous slashing leads to higher penalties, which can destabilize the network.

2. Non-Malicious Slashing Causes: Node slashing can occur due to geographical cloud outages, software bugs, or unintentional downtimes. Large-scale slashing from these events can destabilize Ethereum.

3. Compounding Risks:

- Client Diversity: The dominant use of the Geth client (84%) increases risk. Greater diversity in clients would mitigate potential widespread issues.

- Geographical Distribution: Concentration in Western Europe & the US, & reliance on AWS, make the network vulnerable to regional outages.

- Validator Set Concentration: A more distributed validator set would reduce risk.

4. Distributed Validator Technology (DVT): Limited adoption of DVT, which spreads key management across multiple parties, increasing resilience & reducing single points of failure.

Future Proposals

- The report suggests refining Ethereum Improvement Proposals (EIPs) to better address correlation penalties & enhance security.

Solidity Security Concerns

- #SUI🔥🔥🔥🔥 founder Evan Cheng criticized Ethereum’s programming language, Solidity, for its inherent security flaws, particularly reentrancy vulnerabilities. He argues that Solidity’s dynamic nature makes it prone to hacks.

Conclusion

To ensure Ethereum's resilience, it's crucial to address correlation risks by diversifying cloud providers, operators, & clients, improving security protocols, & adopting Distributed Validator Technology.

Source - bravenewcoin.com

🔥🔥🔥 Top Pundit Asserts You Can Still Become a Crypto Millionaire This Cycle

Bitcoin Market Analysis & Bullish Projections Amid Bearish Trends

Current Market Sentiment

- Bitcoin fell from $70K to $65K, sparking investor concern with predictions of a potential drop to $48K. However, Altcoin Daily sees an ongoing uptrend, suggesting Bitcoin could reach $200K by next year.

Bullish Projections

- Bernstein analysts have raised their #BitcoinForecast to $200K by next year, with a long-term target of $1 million by 2033, driven by expected demand from spot ETFs by Fidelity & BlackRock.

Three Bullish Factors for Bitcoin

1. Federal Reserve Rate Cuts: Possible rate reductions as inflation decreases.

2. Demand for Spot Bitcoin ETFs: Continued strong interest in Bitcoin ETFs.

3. Favorable Political Trends: Improving political conditions for cryptocurrencies.

Grayscale’s Zach Pandl suggests these factors could help Bitcoin retest all-time highs this summer.

Institutional Adoption

- Institutional adoption is rising, with 56% of Fortune 500 companies engaging in on-chain activities. Key developments include BlackRock's asset tokenization, JP Morgan's blockchain initiatives, Google Cloud's crypto payments, & PayPal's #stablecoin efforts. Bitwise CIO Matt Hougan believes mainstream Wall Street adoption will drive further bullish momentum.

Whale Activity & Market Trends

- On-chain data shows significant whale activity, including a $1.3 billion Bitcoin purchase, indicating strong accumulation. Bitcoin's breakout from a consolidation phase last summer supports this bullish sentiment.

Crypto Millionaire Mindset

- Altcoin Daily highlights Ethereum's momentum, anticipating spot ETF launches in July & projecting Ethereum could hit $12K at peak. As Bitcoin & Ethereum perform well, funds may flow into lower-cap & meme coins, offering higher returns.

Conclusion

Despite current bearish trends, the market remains optimistic about Bitcoin & altcoins, driven by institutional adoption, favorable trends, & significant whale activity.

Source - thecryptobasic.com

💥💥💥 #Bitcoin as Safe Haven: #BlackRock CEO Exposes Global Economic Crisis

BlackRock CEO Larry Fink Addresses G7 Leaders on Global Financial System Shift

- Larry Fink, CEO of BlackRock, recently addressed the G7 leaders, emphasizing a significant shift in the global financial landscape towards capital markets as the primary source of private-sector financing. He called for innovative strategies to unlock financial potential, moving away from traditional bank balance sheet models.

Fink's "Growth Dilemma"

- Fink highlighted a "growth dilemma" affecting both emerging and established economies. He noted that while reforms have directed billions into infrastructure in developing countries, a new approach is needed to unlock capital. To address this, Fink announced the formation of the Investor Coalition, including BlackRock, GIP, and KKR, committing $25 billion to Asia’s emerging economies with plans to replicate this in Africa.

Economic Challenges and Bitcoin's Role

- Fink pointed out that with G7 countries averaging a debt-to-#GDP ratio of 129%, traditional methods like taxation and spending cuts are insufficient. Bitcoin has emerged as a potential safe haven amid these challenges, attracting significant interest from large institutional players like Franklin Templeton, Fidelity, and BlackRock. Bitcoin offers higher returns and low correlation with equities, especially during market turmoil, making it an attractive safe haven.

Spot #BitcoinETFs and Institutional Demand

- The introduction of spot Bitcoin ETFs in the US has seen strong demand, with over $15 billion in net inflows since January 2024. These ETFs benefit from Bitcoin’s asymmetric returns and reliability during economic instability.

Summary

Fink's address to the G7 highlighted the growing role of capital markets and the potential of Bitcoin as a safe haven, reflecting a shift in global financial strategies to foster economic growth amid evolving challenges.

Source - beincrypto.com

👉👉👉 #Notcoin👀🔥 Loses 11% After the $NOT Airdrop Claim Ends

Notcoin Drops 11% Post-Airdrop, Holds Steady Amid Market Volatility

Notcoin (NOT) has experienced an 11% decline since its airdrop claim period concluded on Sunday evening. The price of NOT is currently $0.01812, marking its lowest point since early Friday morning according to CoinGecko data. Despite this sharp one-day drop, the token is only 4.6% lower than it was at the same time last week & remains 166% higher than its launch price a month ago.

The Notcoin team reports 11.5 million NOT token holders, including 2.5 million on-chain holders. Most airdropped tokens have been distributed, and unclaimed tokens will be allocated to future development, with a portion to be burned to potentially increase scarcity.

Despite the recent decline, NOT maintains its position as the 57th largest #cryptocurrency on CoinGecko, boasting a market capitalization of $1.8 billion. This valuation places it above notable projects like the DeFi lending protocol Aave (AAVE), Solana-based decentralized exchange Jupiter (JUP), and Ethereum Layer-2 solution zkSync (ZK).

Notcoin's popularity has surged due to the success of crypto-fueled games on Telegram. Recent activity was driven by an airdrop claim, allowing players to send tokens to an exchange, withdraw to a self-custody wallet, or stake them within the Notcoin ecosystem for additional rewards.

In a Twitter update, the Notcoin team announced that details on how gold and platinum level #stakers can earn extra rewards will be shared later this week.

Since its launch, Notcoin has attracted 35 million players. Following this trend, other Telegram-based games are launching similar initiatives, such as Hamster Kombat. This mobile clicker game casts players as crypto exchange CEOs & plans to launch a TON token next month.

Overall, Notcoin continues to show resilience and growth despite the recent price drop, highlighting its strong community and ongoing developments within the ecosystem.

Source - decrypt.co

#CryptoTrends2024 #BinanceSquareTalks

💥💥💥 Ethereum Whales 🐳🐳🐳 Buy $2.45B in $ETH : What’s Next for the Price?

Ethereum Whales Accumulate $2.45 Billion in ETH Amid Price Rebound

In recent weeks, Ethereum (ETH) has seen significant accumulation by large investors, commonly known as whales. These entities have acquired over 700,000 ETH, amounting to approximately $2.45 billion, indicating a strong belief in Ethereum's long-term potential despite recent price fluctuations.

This substantial buying activity suggests a strategic move to capitalize on the recent dip in Ethereum’s market value. The increased holdings among whales could potentially stabilize Ethereum's price amid ongoing market volatility. Despite a temporary drop below $3,400, Ethereum has shown resilience, rebounding due to heightened whale activity.

However, Ethereum's price trend has exhibited a bearish pattern since late May, marked by a series of lower highs and lower lows. The Chaikin Money Flow indicator reflects a decline in money inflows, suggesting a cautious outlook. Conversely, the Relative Strength Index (RSI) has indicated increased bullish momentum, hinting at potential price recovery attempts.

On-chain metrics present mixed signals. Network Growth has declined, indicating reduced interest from new investors, while transaction velocity has also slowed, signaling decreased market activity.

Looking ahead, Ethereum’s price trajectory remains uncertain. The #cryptocurrency faces resistance around the $3,607.30 level, which it may challenge if bullish momentum persists. However, a decisive breakthrough to new highs would require substantial bullish support.

Source - cryptonewsland.com

#CryptoTrends2024 #ETH🔥🔥🔥🔥 #BinanceSquareTalks

#Xrp🔥🔥 $0.5 Entry Denied, Here's What's Next, Is Solana Comeback Getting Postponed? Ethereum (ETH) To Recapture $3,500

XRP Faces Strong Resistance at $0.5

XRP is struggling to break the $0.5 resistance level despite increased trading volume, indicating strong sell orders or insufficient buying momentum. Repeated tests highlight the level's market significance. While increased volume signals investor interest, it hasn't led to a breakthrough, suggesting weak buying pressure. Continuous engagement may eventually weaken the resistance, potentially allowing a breakthrough if buying interest persists.

Solana's Unstable State

Solana has fallen below the critical $150 level, which previously indicated strong market demand & stability. This drop has increased investor concern & selling pressure. Despite Solana's technological potential, current market conditions are cautious, & technical indicators show no signs of recovery. Solana remains in a bearish phase & needs to reclaim $150 as a support level to signal a potential comeback.

Ethereum's Near Miss with $4,000

Ethereum recently failed to break the $4,000 mark, dropping sharply to $3,300—a 17% decline from its recent highs, shaking trader confidence. Key support areas are the 50-day moving average & the $3,300 level. Stabilizing here is crucial for regaining momentum. The RSI shows neutral market sentiment, & recovery to $3,500 will depend on improved market sentiment & advancements in the Ethereum ecosystem.

Key Takeaways

- XRP: Struggling to overcome the $0.5 resistance despite high trading volume. Persistent testing could eventually weaken this barrier.

- Solana: Falling below $150 has raised investor concerns. Recovery depends on reclaiming this level.

- Ethereum: The sharp drop to $3,300 after failing to break $4,000 highlights key support levels. Stabilization is crucial for recovery.

Conclusion

XRP, Solana, & Ethereum are all at critical resistance & support levels, reflecting broader market sentiment. Monitoring these thresholds will be essential for traders & investors.

Source - u.today

#Shibarium Surges: Positive Signs for $SHIB #community as Transactions Soar

Shibarium's Transaction Volume Soars by 441% in a Week

Shibarium has experienced a significant increase in on-chain activity this week, with daily transaction volumes surging by an impressive 441%. Transactions have climbed from 2,990 at the start of the week to 13,191 presently.

This surge in activity is primarily due to heightened interest in Shiba Inu tokens amid ongoing market fluctuations. The increased demand for transactions has led to a notable rise in transaction fees paid in BONE tokens, which have jumped by 176% in the past 24 hours alone. This is seen positively within the SHIB community, as higher transaction volumes typically result in more SHIB tokens being burned, potentially driving up the value of the remaining tokens.

Active accounts on Shibarium have also increased, rising from 798 to 836. This growth indicates heightened engagement among existing users and underscores the platform’s growing relevance within the Shiba Inu ecosystem. Despite a slight decline in new registrations, Shibarium’s strong performance this week highlights its increasing importance and user confidence.

In summary, Shibarium's significant increase in on-chain activity demonstrates its operational resilience and reinforces its pivotal role in facilitating transactions within the SHIB community. With rising transaction volumes and user activity, Shibarium is set to further contribute to the growth and sustainability of the Shiba Inu token ecosystem.

Source - cryptonewsland.com

#CryptoTrends2024 #BinanceSquareTalks #CryptoMarket

🔥🔥🔥 #BitcoinTrading in Bullish Ascending Triangle, Testing Key Resistance

Bitcoin Holds Above Support, Faces 100-Day Resistance

- Bitcoin's price is currently hovering just above a crucial ascending trendline, which has consistently provided support. If Bitcoin touches this trendline and subsequently moves upwards, it would indicate strong support and the potential for a price increase.

- However, Bitcoin also faces significant resistance at the 100-day moving average, a key level monitored by many traders. Breaking through this barrier could signal a bullish movement.

Bitcoin’s Price Drop Below Trendline May Signal Correction

- Conversely, if Bitcoin's price falls below the upward trendline, it could trigger a market correction. This would suggest a shift from a bullish to a bearish trend, indicating that the support level is insufficient and the price might decline further.

In summary, Bitcoin's future remains uncertain, and it is currently at a critical juncture. Traders are closely watching the ascending trendline and the 100-day moving average as key indicators. The coming days could be decisive for Bitcoin's price direction.

Source - blockchainreporter.ne

#CryptoNews🔒📰🚫 #BinanceSquareBTC #CryptoMarket
#cryptocurrency $BTC

💥💥💥 #Solana⁩ sandwich bot makes $30M from #MEV arbitrage in 2 months

The notorious maximal extractable value (MEV) sandwich bot, known as “arsc,” has extracted around $30 million from Solana users in the past two months through MEV attacks.

An MEV sandwich attack involves the attacker placing a victim’s transaction between their own two transactions to manipulate the price & profit from the user. The attacker buys the victim’s token at a price below market value and then sells it within the same block for a profit.

Ben Coverston, founder of cryptocurrency firm MRGN Research, revealed in a June 15 post on X that the “arsc” sandwich bot has been discreetly profiting from Solana network users. One of the bot’s main wallet addresses, “9973h…zyWp6,” is believed to be used primarily for cold storage. This wallet holds over $19 million in total funds, including $17 million worth of Solana (SOL) tokens and $1.1 million in Circle’s USD Coin (USDC) #stablecoin . It also contains small amounts of wrapped-SOL (wSOL), Cringe Coin (CRINGE), and Kabosu (KAB).

Another primary wallet, “Ai4zq…VXKKT,” is more active in decentralized finance (DeFi) activities. It is gradually converting SOL into USDC via JUP DCA and holds significant positions in Kamino and various liquid staking tokens (LSTs). This wallet contains over $9.9 million in non-SOL tokens.
Coverston identified a third wallet address, “BCbrp…vi58q,” which he believes is arsc’s main SOL bank. This wallet employs dozens of different signers and tippers to carry out the sandwich attacks.

In total, these three wallets hold approximately $29.8 million. Coverston suggests that the operator behind “arsc” appears to be maintaining a low profile.

MEV sandwich bots utilize sophisticated algorithms to detect & exploit these profit opportunities. This activity is common among maximal extractable value bots on #Ethereum as well. According to MEVBlocker, over $1.38 billion had been extracted from Ethereum users as of April 2023.

Source - cointelegraph.com

#CryptoTrends $SOL

🔥🔥🔥 Tether CEO Highlights USDT’s Key Role in Boosting US Dollar Demand in Emerging Markets

#PaoloArdoino , the CEO of Tether, recently emphasized the crucial role of USDT in boosting demand for the US dollar in emerging markets. At a recent conference, he highlighted that over 300 million people consider USDT as a digital dollar, providing access to millions who lack traditional banking services. This financial instrument simplifies money transfers and savings by eliminating the inefficiencies of conventional banking systems. For many in developing countries, USDT acts as a safeguard against hyperinflation and currency devaluation.

Ardoino also pointed out Tether's significant impact on global finance through its status as one of the largest buyers of US Treasury Bills. As of March 31, 2024, Tether held approximately $90.87 billion worth of these bonds, demonstrating its strong integration with traditional finance. These substantial investments in American government securities underscore Tether's stability, reinforcing demand for US public debt while linking cryptocurrencies to conventional markets.

With a market capitalization exceeding $112 billion, USDT dominates about 70% of the #stablecoin market and surpasses #bitcoin☀️ in trading volumes. Despite scrutiny from regulatory authorities, it remains highly demanded in countries like Nigeria, Turkey, Thailand, and Brazil. Additionally, a Chainalysis report confirmed the global appetite for stablecoins, reflecting USDT's consistent growth.

In summary, Tether's strategic positioning within the global financial system, coupled with its robust integration with traditional financial instruments, underscores its critical role in both emerging markets and global finance.

Source - coinspress.com

#cryptotrends #BinanceSquareTalks

💥💥💥 TON Outperforms #Ethereum in Key Metrics

The TON blockchain has recently outperformed Ethereum in several key metrics, attracting significant attention. In the first two weeks of June, TON’s price surged by 4.44% to $7.9, and its market cap exceeded $19 billion, making it the 9th largest cryptocurrency by volume. This price increase highlights TON's growing influence.

Comparison Between TON and Ethereum

A crucial metric is the number of daily active addresses. Since May 17, TON has shown comparable values to Ethereum, surpassing it on 10 out of the first 11 days of June. On June 3, TON had 568,300 active addresses, a level Ethereum hadn’t reached since September 13, 2023. Ethereum’s Layer-2 solutions, such as Arbitrum, Base, and Optimism, handled a combined 1.3 million daily active addresses on June 11.

Factors Driving TON's Surge

Support from Telegram: Telegram's backing has significantly boosted TON, providing seamless integration and accessibility, which increases user engagement.

Applications like Notcoin: Notcoin has attracted millions with its reward system, entering the market in May and quickly becoming the 49th largest #cryptocurrency with a market value of $1.9 billion.

Key Takeaways for Users

Active Daily Addresses: TON has outperformed Ethereum in this metric for most of June.

Market Value: TON’s market value rise is linked to community engagement and application use.Platform Support: Major platform support, especially from Telegram, has been crucial for TON’s growth.

Application Impact: Apps like #Notcoin👀🔥 have significantly bolstered TON’s ecosystem.

Future Outlook

The competition between TON and Ethereum will be closely monitored. TON’s success is driven by robust platform support and innovative applications, indicating its potential to continue growing and impacting the blockchain landscape. As these two giants vie for dominance, the developments will be pivotal for the future of cryptocurrency.

Source - en.bitcoinhaber.ne

#tonecoin #BinanceSquareTalks