Solana's decentralized exchanges (DEX) have recently surpassed Ethereum in trading volume over the past week. This shift highlights Solana's increasing popularity and adoption in the crypto market. One major factor contributing to this rise is the reduced fees on Jupiter, a Solana-based DEX aggregator, which has made trading more attractive. As a result, Solana's native token (SOL) has seen a price increase, and its market activity continues to grow, indicating a significant evolution in decentralized finance (DeFi).

Solana (SOL) is showing signs of recovery amid recent market volatility. After hitting a four-month low of $122.44, SOL has increased by 15%, trading at around $145. This recovery comes despite broader market concerns, including Bitcoin reimbursements from Mt. Gox and large BTC sales by the German government. Analysts predict a potential market rally, with forecasts suggesting SOL could reach $158.48 by the end of the month.

Solana (SOL) recently experienced a significant price drop, falling nearly 10%. The decline started after SOL failed to climb above the $135 resistance level. Currently, it is trading below $130 and faces further downside risks. Immediate resistance levels are $126.50 and $130, while major support levels are $122 and $120. If SOL fails to recover, it could see additional losses towards the $112.50 support. The market sentiment remains bearish, with the hourly MACD and RSI indicators reflecting negative trends.

Bitcoin's price recently fell below $62500 amid a significant drop in whale transactions. According to data from Santiment, $100,000 or more transactions decreased by 42% over two days. This decline in whale activity and a risk-averse sentiment among traders on derivatives exchanges suggest cautious market behavior. Bitcoin's Fear and Greed Index has also shifted to a neutral (51) stance.

According to a Bernstein research report, MicroStrategy has significantly influenced Bitcoin capital markets. The company, led by Michael Saylor, has raised $4 billion in convertible debt to acquire 214,400 bitcoins, valued at approximately $14.5 billion. This strategy has increased MicroStrategy's Bitcoin holdings per equity share by nearly 67% over the past four years, highlighting its role in driving institutional demand for Bitcoin-linked financial products.

Bitcoin's price is declining, trading below $66,800 and the 100-hourly simple moving average. It recently fell from a resistance level near $66,850 and broke below a bullish trend line at $66,500. Bitcoin might drop below the $65,500 support zone if the downward trend persists. Immediate resistance levels are at $66,500 and $67,000; surpassing these could lead to a short-term increase. However, failing to hold above these levels could push the price towards the $65,000 support zone.

buy in spot
$RNDR current price 7.777
$PEPE current price 0.00001084
$SUI current price 0.9177

Hold few days

swing trade

Buy $BTC at the current market price of 65465 and DCA till
64444 - 61000

Tp1: 66877
Tp2: 67650
Tp3: 71074
Tp4: 72590

Buy $ETH at current market price of 3380 and DCA till 3300 - 3200
stoploss at 3180
TP1: 3666
TP2: 3815
TP3: 4200

Ripple has invoked the SEC v. Terraform case in its legal battle with the SEC, arguing for a smaller civil penalty. Ripple's lawyers highlight the "unreasonableness" of the SEC's $2 billion penalty request, referencing the recent $4.5 billion settlement in the Terraform case. They argue that a penalty of no more than $10 million would be appropriate, given there are no fraud allegations against Ripple and institutional buyers did not suffer substantial losses.

important

All 👀 on 12 June CPI and funding rates

The Federal Reserve's upcoming interest rate decision is crucial for Bitcoin's short-term performance. Despite a recent dip to $69,000, prominent analyst Ali Martinez predicts Bitcoin could surge to $89,200 if the Fed's comments are positive regarding inflation and interest rate cuts. The market is keenly watching Fed Chairman Jerome Powell's statements for any indication of future monetary policy changes.

Update : All tps hit,trade closed 🙂

Edit:TP2 done

BTC Short signal

Short from current market price of 71351 and DCA till 72222
stoploss at 73000

Tp1: 70930
Tp2: 70652
TP3; 70211
Tp4: 69717
Tp5: 68961

The reason for this trade is low volume but price moving up, which means fake pump that can liquidate shorters at 72222

BUY / Long
DYDX/USDT
BUYING RANGE: Buy at current marke price of 2.035 till 2.05$
TP: 2.10$ - 2.20 - 2.40 - 2.55
SL: 1.68$

Shiba Inu (SHIB): SHIB has lost crucial support levels, putting it in a precarious position. This decline has raised concerns about its ability to maintain its market cap and compete with other major cryptocurrencies like Cardano (ADA).

Ethereum (ETH): Despite a recent bullish surge, Ethereum's momentum has cooled off. Analysts are watching closely to see if ETH can sustain its upward trajectory and eventually hit the $4,000 mark. This will depend on various market factors, including investor sentiment and broader economic conditions.

Solana (SOL): Solana has shown signs of a potential massive reversal. The crypto community is optimistic about its performance, especially considering its previous resilience and innovative ecosystem developments.

A significant burn of the Shiba Inu cryptocurrency has sparked optimism for its price recovery despite the overall downturn in the market. The burn, which involved the destruction of a large quantity of Shiba Inu tokens, is seen as a positive development by investors, as it reduces the overall supply of the cryptocurrency. This reduction in supply could potentially lead to an increase in demand and, consequently, a rise in the price of Shiba Inu. Additionally, the burn is viewed as a strategic move by developers to enhance the long-term value and sustainability of the cryptocurrency. Despite the challenging market conditions, this event has generated hope among Shiba Inu supporters for a future price rebound.

The USDE stablecoin, issued by Ethenea, has reached a supply of $3 billion. The stablecoin, backed by the US dollar, has gained significant traction in the cryptocurrency market. This milestone underscores the growing demand for stablecoins, which offer stability amidst the volatility of traditional cryptocurrencies like Bitcoin and Ethereum. Ethenea's USDE stablecoin provides users with a reliable means of transferring value while minimizing exposure to price fluctuations. The article highlights the stability and trustworthiness of the USDE stablecoin, contributing to its widespread adoption among cryptocurrency users and investors. This achievement reflects the increasing confidence in stablecoins as a fundamental component of the digital asset ecosystem, serving as a bridge between traditional finance and the burgeoning world of cryptocurrencies.

The US banking system faces $517 billion in unrealized losses, primarily due to higher mortgage rates affecting residential mortgage-backed securities. The FDIC reports that 63 banks are on the brink of insolvency, an increase from 52 in the previous quarter. Despite these challenges, the FDIC states the banking system is not at imminent risk but warns of ongoing pressures from inflation, volatile market rates, and geopolitical concerns.

Three notable token unlocks are scheduled for the week of June 3-9, 2024:

Liquity (LQTY)
Unlock Date: June 5 Tokens Unlocked: 657,350 LQTY

Galxe (GAL)
Unlock Date: June 5 Tokens Unlocked: 2.03 million GAL

Hashflow (HFT)
Unlock Date: June 7 Tokens Unlocked: 13.62 million HFT

Depending on market conditions and investor behavior, these unlocks could significantly impact the respective token prices.

Ripple is strengthening its commitment to blockchain technology despite facing regulatory challenges. The company has invested $25 million in Fairshake, aligning with its goal of global crypto adoption. Ripple CEO Brad Garlinghouse emphasizes the need for clear U.S. regulations, criticizing the SEC's inconsistent approach. He foresees the introduction of ETFs for cryptocurrencies like XRP, Solana, and Cardano as a positive market development. Garlinghouse also highlights the growing role of cryptocurrencies in political discussions and calls for sensible regulations to support market growth.