BRICS: Nigeria Plans To Sell Oil in Local Currency
Nigeria had applied to join BRICS in 2023 but the application was rejected at the15th summit in Johannesburg. Despite the rejection, Nigeria is looking at possible ways to join BRICS and be a part of the bloc. The African country wants to strengthen its local currency, the Naira, by allowing other countries to settle trade in their tender. The Senior Advocate of Nigeria, Femi Falana has urged the Federal Government to follow BRICS ideals of de-dollarization and sell crude oil in local currency Naira and not the US dollar.
Falana urged the Nigerian government to rely less on the US dollar and use Naira for crude oil payments. The State-advocate called the government to ignore predictio
While no one can accurately predict the future, the recent decline in the price of #BONK could pave the way for a deciding moment for the asset’s future price.Such a substantial price drop can easily turn into a downward spiral that sends the price into hard-to-recover-from levels. The second largest meme coin, Shiba Inu, is an example of a token that has faced a similar struggle. While SHIB has impressed in recent weeks, it remains 87.79% below its October 2021 all-time high.Meanwhile, BONK’s decline could also pave the way for a new crop of holders who missed out on the initial run-up to build a position. However, there is no guarantee this would be favorable, and investors should conduct thorough research before jumping in.In BONK’s case, the recent listing on Coinbase could help its course in the same way that Solana’s recent rise to stardom has impacted BONK’s price positively.However, continued selling pressure could see investor confidence evaporate and potentially send the token into the ashes, where most meme coin-related projects end up after their classic moments.$BONK
Bitcoin Conference: Here are The Major Highlights From The Event
#Bitcoin Conference: Here are The Major Highlights From The Event The 2024 Bitcoin Conference which kicked off on Thursday finally came to an end on Saturday with several exciting highlight
Political Promises From The Bitcoin Conference Republican Presidential candidate Donald Trump gave an outstanding speech on the last day of the Bitcoin Conference. The 78-year-old politician highlighted his potential crypto-related policies, all in a bid to woo crypto voters. Part of his plan is to fire SEC Chair Gary Gensler on his first day in office. This announcement underscores Trump’s aggressive stance on reshaping crypto regulations. He went on to describe Bitcoin as a marvel of technology that showcases the epitome of cooperation and achievement. Trump also took a jab at Vice President Kamala Harris, calling her a radical. He did not fail to tell his audience how ‘anti-crypto’ the potential Democrat Presidential candidate is. Similarly, Independent Presidential candidate Robert F. Kennedy Jr., outlined his plans for the US should he win the elections. One of which is to transform how the US perceives Bitcoin (BTC). On his first day in office, RFK said he will sign multiple executive orders aimed at integrating BTC into the U.S. economic strategy. $BTC #BinanceTurns7
#XRP/USD The rate of XRP has increased by 0.46% over the last day.
On the hourly chart, the price of XRP is in the middle of the local channel. However, any sharp moves are unlikely to happen by the end of the day as most of the ATR has been passed.
A similar picture is on the daily time frame. The price keeps accumulating energy for a further move. In this case, ongoing sideways trading around the current prices is the more likely scenario for the next few days.
From the midterm point of view, the rate of XRP is trading within the previous weekly bar.
If the situation does not change until the end of the day, traders may witness a consolidation in the zone of $0.58-$0.65 for the next weeks.
#DOGE and #SHIB Among Top Laggards as Crypto Market Remains in Red
According to data provided by CoinGecko, Shiba Inu (SHIB) and Dogecoin (DOGE) are among the top laggards among leading cryptocurrencies. The two meme coins are down 3.5% and 2.5%, respectively.
For comparison, Bitcoin (BTC) is down 0.9% over the same period of time. Some other major cryptocurrencies, such as XRP, are currently in the green.
Meme coins in red
The entire meme coin sector is currently in the red, with dogwifhat (WIF) plunging by as much as 6%.
Every single meme coin with a market cap over $1 billion has recorded losses over the past 24 hours.
Bonk (BONK) and Brett (BRETT) have also slipped by more than 5%. Pepe (PEPE) and Floki Inu (FLOKI) are down 3.1% and 4.9%, respectively.
Mog Coin (MOG) is the only well-established meme cryptocurrency that has managed to record a modest price uptick (1.7%).
- *Price Surge*: Lido DAO's price has seen a significant surge of 20% over the past 24 hours, indicating bullish sentiment among investors ¹.
- *Current Price*: As of July 18, 2024, the token was valued at $1.97 during U.S. trading hours, making a slight increase of 1.05% ¹.
- *Market Capitalization*: Lido DAO's current market capitalization is approximately $1.8 billion, positioning it at #52 in the rankings ¹.
- *TVL Growth*: Lido's Total Value Locked (TVL) has reached $34 billion, with an annualized revenue of $107 million ¹.
- *Stability and Potential*: Lido DAO's price stability suggests a potential for significant upward movement soon, with a possible breakthrough of the $2 mark ¹.
Litecoin’s price dips but wallet numbers and whale activity remain strong. Increased whale transactions suggest significant interest and potential market shifts. #Litecoin (LTC) has been in the spotlight recently, reaching an 18-day high of $74.61 two days ago. However, the cryptocurrency is experiencing a bearish trend, with its price dipping to $71.92, reflecting a 2.53% decline. Trading volume has also decreased by 37%, adding to the cautious sentiment. Despite this, recent data from Santiment has provided some positive news. Litecoin’s performance over the past decade shows it has amassed 8.08 million non-empty wallets, making it the most widely held altcoin among those listed. Dogecoin follows this with 6.69 million wallets, XRP Ledger with 5.24 million, and Cardano with 4.48 million. Shiba Inu and Chainlink have 1.39 million and 722,000 wallets, respectively. In addition to these metrics, recent findings from Intotheblock highlight increased whale activity on the Litecoin network. The “Large Transactions Volume” indicator, which tracks transactions valued at $100,000 or more, shows a recent uptick. This surge suggests significant movement from large investors, indicating heightened interest and potential strategic shifts within the network. Litecoin To Reach New Heights In Q3? Trading expert John Bollinger has also weighed in, suggesting that Litecoin may be on the verge of a significant move. He noted that it might be “about time for LTC to wake up,” referencing the cryptocurrency’s monthly chart analyzed through Bollinger Bands, a technical tool he developed. The above research indicates that Litecoin (LTC) remains a dominant player in the altcoin space with the highest number of non-empty wallets, suggesting strong long-term holder engagement. Despite recent price declines and reduced trading volume, increased whale activity signals significant interest from large investors. This could imply potential upcoming volatility or a shift in market dynamics. The recent dip and expert predictions of a possible major move suggest that LTC might be positioning for a significant price action. Investors should watch for further whale transactions and technical signals for insights into Litecoin’s next potential move. $LTC #BinanceTurns7
Popular XRP community member “Common Sense Crypto”
#XRP Popular XRP community member “Common Sense Crypto” identifies the major reason behind XRP’s collapse in the daily charts. The XRP community was left in disappointment after the coin recorded a dramatic plunge yesterday. Data from CoinMarketCap shows that the XRP price fell below the $0.6 threshold to a 24-hour low of $0.5869. Notably, XRP’s price crashed from $0.6215 to $0.5866 within three hours, reflecting a decline of 5.61%. However, the dip was short-lived, as the seventh-largest cryptocurrency by market cap rebounded above the $0.6 price level. Reason Behind XRP Price Decline Reacting, prominent community member Common Sense Crypto attributed the price decline to the outcome of yesterday’s closed-door meeting at the SEC’s headquarters. It bears mentioning that the price of XRP spiked to around $0.64, following speculations about a potential settlement in the SEC v. Ripple lawsuit. Several XRP community members speculated that the SEC could agree to settle with Ripple at its closed-door meeting slated for July 25, 2024, at 2 PM (ET). This speculation was fueled by the meeting’s agenda, which revolves around the settlement of administrative proceedings and injunctive actions. However, the meeting did not bring about the settlement of the SEC v. Ripple lawsuit as many anticipated. Consequently, XRP witnessed a sell-off, according to Common Sense Crypto. The community member stated that a pattern of XRP sell-off is often seen when the outcome of the SEC closed-door meetings does not produce positive results. $XRP #BinanceTurns7
The US announced that the second quarter GDP grew by 2.8% annualized, significantly exceeding the expected 2.00% and the previous value of 1.40%. The second quarter core PCE price index annualized quarterly rate was 2.9%, which was expected to be 2.70% and the previous value was 3.70%.
The #Bitcoin market has fallen a bit, but it also sees a lot of support in the region we are currently trading in. This is a market that also has the backing of Wall Street, which means that stabilization might be easier than in the past. Bitcoin Technical Analysis: The bitcoin market has fallen during Asian trading and at this point in time is looking at the $64,000 level to see whether or not it is going to be supported. I do think eventually it gets supported, but we may need to work off a little bit of fear in the markets. This isn’t just about Bitcoin, this is about the world, quite frankly, as there have been a massive amount of negative positions put on out there. With that being said, I think this is a situation where we eventually try to go looking toward the 50-day EMA above, which is closer to the $65,400 level, and if we can break above that, then the $67,000 level is more likely than not going to be the next target. If we break down from here, I see a massive amount of support at both the $62,000 level and the $60,000 level, which of course, is a large round psychologically significant figure, and has shown itself to be important more than once in the past. Because of this, I would be very interested in this area for a potential set up. Because of this, I am bullish, but I also recognize that you need to see momentum coming back into the market. If you’re a longer term holder, then it probably doesn’t matter as much. Remember, position sizing will be everything, especially in an environment like we have right now where pretty much everything has sold off for the last couple of days. $BTC #BinanceTurns7
Ripple (XRP) registered a sharp drop on Thursday after bulls pushed the price above $0.60 on Wednesday. Strong selling pressure led to XRP dropping by 9% on Thursday, dipping below $0.60 and settling at $0.57. However, bears were unable to sustain momentum at lower levels despite pushing XRP to a low of $0.54. Strong demand at lower levels allowed the price to recover and register an increase of 0.54% to settle at $0.57 on Friday. This can be seen in the long tail on the price chart.
XRP registered an impressive increase of 3.61% on Saturday, rising to $0.59. Sunday saw XRP withstand considerable selling pressure, falling to a low of $0.57. However, buyers were once again able to overwhelm selling pressure at lower levels, resulting in an increase of 0.67%. The current week began with XRP rising to $0.60 after an increase of 1.76%. The current session sees XRP back in the red as sellers look to push it back below $0.60.
Buyers will attempt to keep XRP above $0.60 and push it above $0.64. Such a scenario could see XRP push towards $0.70 as well. However, sellers are expected to defend these levels vigorously, and we could see considerable back-and-forth between buyers and sellers. If XRP is unable to push above $0.70, it will continue to trade between $0.56 and $0.65.
The Turbo Protocol (TURBO) token has experienced a recent price downturn,
The Turbo Protocol (TURBO) token has experienced a recent price downturn, dropping across various exchanges. Here's a breakdown of the key data points and their implications: Real-Time, Multi-Exchange Price Tracking TURBO's price is determined using a real-time, volume-weighted average formula. This approach considers data from 30 exchanges and 33 markets, aiming to provide a comprehensive picture of the token's value. Short-Term Price Decline Looking at recent performance, TURBO has seen a 0.90% decrease in the last hour and a steeper 10.14% decline over the past 24 hours. This short-term trend suggests a downward price movement. Extending Downtrend: Weekly and All-Time High Comparison The downtrend extends further when considering the weekly timeframe. TURBO's price has fallen by 10.32% in the past week, indicating a sustained price drop. The current price of $0.0037 per TURBO sits significantly below its all-time high of $0.0098. This translates to a depreciation of 61.79%, highlighting a substantial drop from its peak valuation. Market Cap and Circulating Supply As of now, TURBO has a 24-hour trading volume of $67.17 million. This indicates active trading, despite the price decline. The current circulating supply of TURBO stands at 63,674,701,174.423, resulting in a total market capitalization of the same amount. Looking Ahead: Unforeseen Trajectory While the current data paints a picture of a price decline, the future trajectory of TURBO remains uncertain. Factors like project developments, market sentiment, and broader cryptocurrency trends can all influence its price. Investor Considerations This information serves as a snapshot of TURBO's current performance. Investors should conduct thorough research and consider their risk tolerance before making any investment decisions in TURBO or any other cryptocurrency. #BinanceTurns7
Bonk & Daddy Tokens Plunge As Solana-based Memecoins Stumble Again!
With the price of #Bitcoin failing to reclaim the $60K mark, the crypto space continues to record a bearish price action. Further, the Solana price has repeatedly failed to hold its value above the $140 mark for the Eighth consecutive day, highlighting a strong selling point at that level. Following this, SOL-based altcoins have experienced a similar trend by displaying significant corrections in their respective portfolios. Moreover, top Solana-based memecoins have recorded the highest loss with some memecoins displaying a double-digit drop. Bonk Price Fails To Break Out Of Its Important Resistance Level: The BONK price successfully retested its crucial support trendline, following which this memecoin recorded a positive uptrend for three consecutive days by adding 35.67% during this time. However, it failed to surpass its resistance trendline, resulting in a bearish reversal.
Notably, the BONK coin price has dropped 11.03% within the past day, with a trading volume of $318.719 Million. This has further resulted in this memecoin losing its 4th place to Dogwifhat which has a market cap of $1.574 Billion. Bonk mememcoin has a market cap of $1.573 Billion. The technical indicators, RSI and MACD have recorded a strong bearish curve in their respective chart, suggesting an increase in the negative influence within the crypto space. If the bears continue to dominate the market, the Bonk crypto will prepare to test its crucial support level of $0.00002125. However, a bullish reversal could result in the Bonk price heading toward its resistance of $0.0000270. $BONK #BinanceTurns7
Ripple (XRP) Skyrockets 13% Daily to 3-Month Peak,
#Ripple (XRP) Skyrockets 13% Daily to 3-Month Peak, #bitcoin (BTC) Touched $66K (Market Watch) After XRP, the other notable gainers from the larger-cap alts include FET, AVAX, APT, and more. Amid the ongoing positive inflows toward the spot Bitcoin ETFs, the price of the underlying asset continues to recover and tapped $66,000 for the first time in roughly a month earlier today. The altcoins are also well in the green, with XRP leading the pack following a 13% daily surge. BTC Stopped at $66K: Bitcoin’s price actions went through extreme turbulence at the start of the month, culminating in a price dump to a three-month low of under $54,000 on July 5. Since then, though, the asset has managed to recover more than ten grand. The bounce-off started almost immediately with a jump to $58,000, and the cryptocurrency stood there for several days. It wasn’t until the failed assassination attempt against US presidential candidate Donald Trump during the weekend that BTC spiked hard and reclaimed the $60,000 line. More gains came at the start of the current business week as bitcoin jumped to $63,000 yesterday and kept climbing in the past 24 hours. Another three-grand increase resulted in tapping $66,000 for the first time since June 20. Despite losing about $1,000 since then, bitcoin now sits at just over $65,000. Its market cap is slightly above $1.280 trillion, and its dominance over the alts stands still at 51.2% on CG. XRP on the Run: Ripple’s native token has emerged as today’s top performer. The asset has soared by more than 13% in the past 24 hours and now trades at a multi-month peak of its own at over $0.6. FET is the other larger-cap alt with a similar surge that has driven it to $1.5. $XRP #BinanceTurns7