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๐๐Hold on to your hats, Bitcoin enthusiasts! Despite the recent market downturn and XRP's price falling below $0.50, analysts like Dark Defender are still optimistic. They predict that XRP could reach highs of over $5 if key support levels are maintained. ๐๐ช
The ongoing legal battle between Ripple and the SEC remains a critical factor for XRP's future prospects. The case has been adding layers of complexity, but the outcome could trigger an XRP rally. ๐๏ธ๐ฎ
XRP's price tumbled by almost 10% weekly, dipping below the $0.50 mark for the first time since mid-April. Despite this, Dark Defender believes XRP can still jump to a peak of $5.85 and later to a whopping $18.22 as long as it trades above the two major support levels - $0.46 and $0.39. ๐ข๐ฐ
The analyst also forecasts that the global cryptocurrency market capitalization could surpass $23 trillion by January 2025. With XRP currently accounting for less than 1.2% of that share, its price could rise to approximately $2.80 if the market cap explodes to that level. ๐๐ธ
However, the analyst expects much more substantial gains, predicting that "most of the useless crypto assets will be vaporized" along the way, giving XRP extra room for growth. ๐๐
Another analyst, EGRAG CRYPTO, believes XRP is yet to experience a major bull run. The analyst presented a chart, which shows that XRP's latest weekly candles have not dropped below a certain resistance zone. ๐๐
So, keep your eyes peeled for news on the Ripple v SEC front. A positive outcome for Ripple in its legal battle could be the trigger for an XRP rally. Stay tuned! ๐ฐ๐
โก๏ธ The number of projects launched on Binance Launchpool in 2024 (12) surpassed the number of projects launched in the whole of 2023 (10). The category of projects added to Launchpool was mostly Gaming.
Synthetix founder, Kain Warwick, has finally spilled the beans! The much-anticipated decentralized exchange front-end, Infinex, is set to launch on May 13, after a few hiccups along the way. ๐
Infinex aims to bring a centralized exchange user experience to the decentralized world, with social passkeys for easy Web2 logins. Users can look forward to self-custodial accounts and a points-farming game post-launch.
Despite a security breach in March, Warwick assures it's now one of the most secure environments he's ever worked in. The launch date still needs a nod from the Spartan Council, but Warwick is confident about their approval.
Post-launch, Warwick hopes to see $50 million in total value locked and 10,000 genuine users within the first 30 days. If the market stays bullish, he expects hundreds of thousands of users within a year.
What are your thoughts? Are you excited for the launch? Let's chat in the comments! ๐ฌ๐
๐ฐ๐ Crypto Carnage: $250 Billion Wiped Out in Market Mayhem! ๐๐ฐ
The crypto market's rollercoaster ride took a harrowing turn as a whopping $250 billion vanished into thin air on May Day! ๐ฑ
๐ Long position investors bore the brunt of the blow, losing a staggering $400 million in leveraged transactions within just 24 hours. Ouch!
๐ Over 137,000 crypto investors felt the sting, with $464.54 million going up in smoke, primarily from bullish trades gone sour. Short sales added insult to injury, contributing $64.67 million to the total losses.
๐ Bitcoin (BTC) and Ethereum (ETH) led the pack in pain, with liquidations totaling $165.77 million and $120.76 million, respectively. These two giants alone accounted for a whopping 61% of long position losses.
๐ The crypto market's total capital plummeted from $2.29 trillion to $2.04 trillion, marking a staggering 10.87% decline in just one day. Talk about a seismic shift!
๐ Bitcoin's daily losses surpassed 7.5%, leaving investors biting their nails as the price dipped below $60,000. Analysts are eyeing potential drops to $54,000 and $50,000, raising concerns among jittery traders.
Hold onto your hats as the crypto world weathers this storm of uncertainty! ๐ช๏ธ๐ผ
๐ฑ๐ฅSHIB News: Shiba Inu Community Burned 1.69 Billion Coins in April, What's Next?
#ShibaInuย , a meme coin that has recently been talked about in crypto town, attracted a lot of attention among crypto market participants when its community recorded that it burned 1.69 billion coins last month.Dec. April This enormous amount of dog-themed meme money caused contrasting emotions to arise among investors, as SHIB showed a Decelerating price trend in April.
Crypto market participants are speculating about the potential price movement of meme coin in the coming period, because the huge amount of coins burned underlines a positive feeling despite the downward movement of meme coin. The broader crypto market has been facing increasing turbulence following the BTC halving, and amid this situation,ย #SHIBย , which has been trending down in recent days, has also been bearing the brunt of this situation.
Shiba Inu Sees Supply of Billions Running Out According to the data of the follower Shibburn, it was recorded that 1.69 billion SHIBS were burned in April and a total of 204 transactions were recorded. The majority of these tokens were sent to Contract Addresses and caused excitement in the Shiba crypto community.
However, the follower explained that this was not due to a major development. "This is just people making mistakes, sending their tokens to CA and losing their investments as a result," the follower added in a post shared on X.
Although it may seem like a setback for the so-called 'people' who witnessed the disappearances, this date was staged as optimistic news for the Shiba Inu. With the supply also taking a hit, the SHIB token is gradually continuing to kill the oversupply in the market, which increases optimism. #Memecoins ย #binance
Shiba Inu, Caused quite a stir in Japan this week! The excitement was ignited by Binance Japan's decision to list a new SHIB/JPY trading pair on its platform. This move enabled Japanese investors to trade SHIB directly with their local currency, making the process more convenient than ever before.
The initial response to the listing was nothing short of electrifying! In fact, SHIB's price momentarily skyrocketed to ยฅ0.016666 (about $0.00011), marking an astonishing 360% surge from the opening trading price. The jubilation was palpable, especially among the Japanese Shiba Inu community, with prominent members like KURO eagerly documenting the spike on social media.
However, as is often the case in the volatile world of cryptocurrencies, the euphoria was short-lived. The price soon stabilized at a significantly lower point, ยฅ0.003741 (around $0.000024). This swift correction serves as a reminder that while such explosive price movements can be thrilling, they don't always translate into long-term growth.
As the dust settles, it's essential to consider the broader implications of this event.
Memecoin Watch: BONK Nears Key Resistance โ Potential Breakout? PEPEโs Pattern Signals UptrendCryptocurrency markets are continuously shifting, and memecoins often represent the most volatile and intriguing segment. Stoic, a notable cryptocurrency analyst on X, has shared his technical evaluations of two such coins, BONK and PEPE, providing insights that might help predict their near-term movements.
Technical Perspective on BONK
In his detailed analysis of the BONKUSDT trading pair, Stoic focuses on a 4-hour chart where BONK shows signs of testing critical technical levels. The coin is
Our previous post highlighted the growing popularity of Liquid Restaking with new players likeย $ETHFI ย andย $REZ ย joining established names like PENDLE. Now, get ready for another chapter in the story! CoinDesk reports that the excitement surrounding Liquid Staking is spilling over from Ethereum to Solana, creating a "gold rush" atmosphere. Here are key takeaways: ๐๐
๐ฐSolana's Restaking Rush The gold rush extends toย $SOL ย ! Just like Ethereum, competition is heating up for who will dominate Solana's restaking scene. Big names like Jito (yet to announce) and newcomers like Cambrian Labs and Solayer Labs are all building solutions.
๐ตYield & Rewards Expect familiar themes: projects like Picasso plan points programs and token rewards to attract users.
๐ฅConcerns & Risks Not everyone's sold. Some argue Solana might not need restaking as much as Ethereum. Others worry about potential risks like "contagion" if something goes wrong.
๐ปThe Rest of the Story Solana's restaking story is just beginning. Who will win? How will it impact Solana? Stay tuned for the next chapter!
Let us know your thoughts in the comments! DYOR!ย #SOLย #BinanceLaunchpoolย #ETHFI ย #REZ
More about Liquid Restaking ๐:ย Hitchhiker's Guide to Restaking
CNBC: What areas of inflation (services/goods) do you think need more attention right now?
FED: Right now, not yet, but I still think inflation will continue to fall, but I'm less certain about that. I continue to expect housing costs to be reflected in inflation indices.
CNBC: You're keeping interest rates steady, but slowing the pace of bond sales. Is this a signal to ease the market?
FED: No, what matters is the interest rate. We are slowing down the rate of bond sales to reduce the pressure on the market... (The FED President is explaining the situation in a roundabout way here, because he does not want to admit that there is a way to loosen the market.) #bitcoinhalving #fomc ย #Fed ย $BTC
Associated Press: So is the Fed now turning to more tightening or easing?
FED: I can only say that I think interest rates are high enough right now that we still do not have confidence in a rate cut, let me give a few examples: If inflation remains constant, interest rates will remain at this level. If inflation drops, we will consider interest rate cuts. If unemployment increases, we will consider lowering rates. It all depends on future data.
You can buyย $BTCย today and lose all your money in the next few months/years
You can buyย $BNBย today and lose all your money in the next few months/years
This is cryptocurrency
We have no control over the market, the market can be manipulated but it can never be fully controlled
Crypto is volatile, buying the top coins will not save you from losing your money in the nearest future
We can wake up one morning and discover that Satoshi has activated his/her wallet and sold all the bitcoins in them and then we see more individuals like Elon Musk and Michael Saylor sell off their bitcoins and what about coinbase ?
Coinbase holds almost 1 million BTC in total, what if they suffer an exploit and they have to sell off their bitcoins to settle customers ?
What do you think would be the fate of Cryptocurrency if such ever happens at the same period ?
All we are trying to say is
Crypto is volatile, buying the top coins will not save you from losing your money in the nearest future
Satoshi Nakamoto is the largest holder of Bitcoin, purported to be in possession of 1.1 million Bitcoin worth approximately $50 billion at todayโs prices.
Coinbase holds almost 1 million BTC in total. Binance, Grayscale and Bitfinex also hold large amounts, custodying over 600,000. 450,000 and 200,000 BTC respectively.
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Hong Kong ETF Approved Bitcoin Falls! Is Tether Responsible for Everything?
In Hong Kong, whereย #Bitcoinย andย #Ethereumย (ETH) ETFs were launched, the market fell well below expectations on the first day of trading, generating only $11 million in combined trading volume, crypto market analyst WhaleWire posted on April 30. It remained below the target of $125 million.
WhaleWire's view of "fabricated and non-existent" institutional demand was in line with its view that the rise in Bitcoin prices over the past few months was a result ofย #Tetherย (USDT) "bringing record amounts of money into the markets." On the other hand, according to a report published by Collective Shift senior analyst Nicholas Sciberras on April 22, he pointed out the recent surprising rise of the Bitcoin (BTC) price and stated that peaks are possible, but "catastrophic declines are also possible."
There is a theory that the four-year halving event is not as significant as many think, and instead, its alignment with external liquidity cycles is what makes it appear to be a trigger for upward price movement.
Sciberras also stated that the block reward will continue to decrease after each halving. Expressing his concerns about the long-term security of Bitcoin, the analyst also expressed his opinion that short-term selling pressure and 'texts' among developers are nothing but spam clogging the network. If Bitcoin continues to be targeted by governments and energy consumption becomes further politicized, this could put pressure on Bitcoin's long-term sustainability. (โฆ) If adoption and demand forย #Bitcoinย remains insufficient, or if fee revenues are insufficient to incentivize miners to upgrade their hardware and mine new Bitcoins, security may diminish and threaten the network.
On the other hand, the decline in Bitcoin price continued. As of writing time, Bitcoin continues to trade at $60,819 after a 5% decline. #HKETF
Worldcoin, which belongs to Tools for Humanity, is expanding its iris scanning operations in Mexico. Sharing the news, the project has started more scanning centers in Mexico City, Monterrey, and Guadalajaraย accordingย to Criptonoticias base. The increase in volume in Mexico places it as the third base in Worldcoin in Latin America, after the larger bases in Argentina and Chile.
Protection of biometric data collected by Worldcoin has been discussed by Mexican legislators such as Marรญa Eugenia Hernรกndez from the Morena party. Hernandez has demanded the INAI probe to find out whether the personal information gathered and the tokens issued are safe to be captured against Bitcoin.
Countries like Spain and Portugal have interrupted the Worldcoin operations for the time being because of the data privacy problems and the particular attention to the personal data of child minors. In Latin America, Argentine and Chilean authorities also carry out worldcoin data collection implications evaluations and some part presents the process of fines.
Wall Street Journal: What do you think the market needs to pull back inflation?
FED: The general situation of the market is similar to this year and last year. We are not relaxing either, but inflation started to rise again since December. We need to wait for more data to understand why inflation is rising again. We still hear that companies are having problems with production and imports (supply chain), which may be the reason why inflation is rising again. Companies may give raises to their employees, which may cause inflation to increase. In summary, we are waiting for more data. #BTCโฌ ย #fomc ย #Fed ย $ BTC
๐Onย #BTCโฌ since morning we saw a spill down to the global support level around $56600, where we are now. It is very important to see the reaction to this price level now. In case we break it, we do not rule out a hike all the way to $55000. If we push off from it and get a reaction, then it's a chance to start rising.
๐ฐWe would like to note that theย #fomcย will be meeting today to decide on the fund rate. In case it will not be changed, it will be favorable for crypto and in turn it will have a positive impact on btc, so we can see the month of May strongly longing. #BTC ย #bitcoin
The XRP market has experienced fluctuations over the past few days, with a price of $0.507 showing a decrease of 3.12% in the last 24 hours. Over a week, the price has dropped by 5.75% and a decrease of 17.84% over the past month. The token boasts of a market capitalization of approximately $28 billion, taking its position as the 7th largest cryptocurrency, according toย CoinMarketCap.
XRP has experienced a surge in its trading volume by 20.84% in the past 24 hours, totaling $723.35 million, with a circulating supply of 55.24 billion tokens. The token recorded an all-time high of $3.84 on January 4, 2018, although showing a decline of 86.79% since then.
Crypto Market Recovery
The global crypto market has been struggling in its performance with multiple crashes and slow downs before and after the just ended fourth Bitcoin Halving. The recovery of the market is crucial for the price recovery of XRP due to various factors. Market sentiment plays a significant role as positive sentiment can lead to increased buying pressure and demand for XRP.
The price recovery of XRP is influenced byย Bitcoinย dominance, as a rebound in BTC can boost investor confidence to invest in altcoins such as XRP. Increased investor trust and willingness to take risks in the market rebound could drive up the demand for XRP.
Market dynamics play a role as well, with correlations between cryptocurrencies weakening during recovery, potentially benefiting projects like XRP perceived as undervalued or strong. Additionally, bullish technical signals and patterns during market recovery can attract technical traders to XRP, further boosting investor confidence in its price resurgence.
Celsius, a bankrupt crypto lending platform, destroyed all of its platform tokens 6 hours ago - 652 million CEL ($90.42M), which is 94% of the total CEL supply.
After the destruction, the total supply of CEL is 40.55 million, with a market value of $5.61 million.