Both Bitcoin and Bitcoin Cash face challenges amid the globa | CoinIQ on Binance Square

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Both Bitcoin and Bitcoin Cash face challenges amid the global market downturn. Bitcoin struggles below $60,000, while Bitcoin Cash risks dropping to $400. However, a potential recovery for both could occur if Bitcoin's bullish momentum returns. 
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Over the past week, Ripple (XRP) and Toncoin (TON) have experienced significant declines, dropping over 23% and 22% respectively, amid a broader cryptocurrency market downturn. Ripple's market capitalization has fallen to approximately $25.9 billion, while Toncoin's stands at around $13.2 billion. Despite these declines, the considerable gap between their market caps makes it unlikely that Toncoin will surpass Ripple in the near term. Furthermore, sentiment analysis indicates that Ripple is in a comparatively stronger position, with a less negative funding rate than Toncoin, suggesting that XRP will likely maintain its current ranking above TON for now. #BinanceTurns7 #BTCMarketPanic #tonecoin #TrendingTopicb

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Toncoin (TON) has experienced a notable bull rally, surpassing its 20-day and 50-day EMAs and bouncing back from the $6.9-support level to trade near $7. This rally, which began two months ago at $4.8, has seen TON gain nearly 70%, peaking at $8.24 on June 15. The price action has formed an ascending channel on the daily chart, indicating potential for continued growth if the price closes above the channel's middle line. However, negative funding rates and a bearish divergence in the On Balance Volume (OBV) suggest a weakening uptrend. The Relative Strength Index (RSI) remains bullish but shows signs of easing buying pressure. If the price falls below the ascending channel, a retest of the $6 level could be likely. Thus, caution is advised before making new long positions, as the uptrend might be losing momentum. #HotTrends #HotContent #tonecoin

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Toncoin (TON) is showing strong market performance, with only 1% of holders currently at a loss, according to IntoTheBlock. The majority, 90%, are in profit, and the rest are breaking even. This positive distribution correlates with TON’s current price of $7.65, which had previously peaked at $8.23. AMBCrypto’s on-chain analysis highlights increasing accumulation among addresses holding between 1 TON and 10 million TON, reflecting growing confidence in the token. The Global In/Out of Money (GIOM) metric indicates robust support at $7.48, with 1,310 addresses holding 476,270 tokens. If demand persists, TON's price could surpass the $8.17 resistance and potentially retest $8.32, bringing all holders into profit. However, a recent drop in Open Interest (OI) from $96.54 million to $93.80 million suggests traders are reducing their positions, which could impact liquidity and market dynamics. #HotTrends #HotContent #tonecoin

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The UAE leads the global fintech arena with 30.4% of its population (3 million people) owning cryptocurrency, according to recent data from Triple-A. Vietnam follows with significant growth, as 21.2% (21 million people) engage in digital currencies, surpassing Singapore's 11.1%. In the US, 15.6% of the population (53 million people) owns cryptocurrency, bolstered by regulatory milestones like the approval of Bitcoin and Ethereum ETFs. Iran and the Philippines also show notable adoption rates of 13.5% and 13.4%, respectively. As countries worldwide embrace digital currencies, they enhance regulatory frameworks, such as Singapore's updated Payment Services Act. While the US maintains a strict stance, it has authorized Bitcoin and Ethereum ETFs, with hopes for more pro-crypto policies in future elections. #Hotternds #HotContent

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XRP shows potential for a price increase, with the Mean Dollar Invested Age (MDIA) rising to 2083, indicating decreased trading activity and a higher chance of joining a bull run. Currently priced at $0.48, XRP has seen a 22.62% drop over the last 90 days, but continued MDIA growth could stabilize its value. Despite a decline in Network Growth, which suggests adoption issues, the positive Weighted Sentiment reflects a bullish outlook. The ongoing U.S. SEC lawsuit remains a crucial factor; a favorable outcome for Ripple could significantly boost XRP's value, while a negative ruling might lead to further declines. Overall, if these trends persist, XRP could retest or surpass the $0.50 mark. #HotTrends #HotContent #Xrp🔥🔥

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