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๐Ÿช™ Crypto News (May 7, 2024): 1๏ธโƒฃ Mode: On May 7th, Mode's second-tier decision will unveil its native coin, MODE, and initiate the airdrop claim process. Initially, developers will distribute 550 million #MODE tokens, constituting 5.5% of the total issuance of 10 billion tokens. ๐Ÿš€ 2๏ธโƒฃ Bluesky: Jack Dorsey has resigned from the board of directors of Bluesky, a decentralized alternative to the X social network. Dorsey did not provide an explanation for his decision. ๐Ÿ”„ 3๏ธโƒฃ SEC: Investment firm Hightower Advisors has injected $68 million into the spot Bitcoin #ETF sector. This capital infusion has been divvied up among six crypto funds rooted in the primary cryptocurrency. ๐Ÿ’ผ 4๏ธโƒฃ LayerZero: On May 7, 2024, the #LayerZero omnichain protocol team announced a collaboration with Chaos Labs and Nansen to conduct analysis aimed at identifying sybils. ๐Ÿ› ๏ธ 5๏ธโƒฃ JP (Exodus): The developer of the #Exodus cryptocurrency wallet has declared its listing on the New York Stock Exchange (NYSE American). Securities under the ticker EXOD will debut on the market on May 9, 2024. ๐Ÿ’ผ ๐Ÿ“ฉ If you found these updates informative, consider subscribing for more content or drop a like below!

๐Ÿช™ Crypto News (May 7, 2024):

1๏ธโƒฃ Mode: On May 7th, Mode's second-tier decision will unveil its native coin, MODE, and initiate the airdrop claim process. Initially, developers will distribute 550 million #MODE tokens, constituting 5.5% of the total issuance of 10 billion tokens. ๐Ÿš€

2๏ธโƒฃ Bluesky: Jack Dorsey has resigned from the board of directors of Bluesky, a decentralized alternative to the X social network. Dorsey did not provide an explanation for his decision. ๐Ÿ”„

3๏ธโƒฃ SEC: Investment firm Hightower Advisors has injected $68 million into the spot Bitcoin #ETF sector. This capital infusion has been divvied up among six crypto funds rooted in the primary cryptocurrency. ๐Ÿ’ผ

4๏ธโƒฃ LayerZero: On May 7, 2024, the #LayerZero omnichain protocol team announced a collaboration with Chaos Labs and Nansen to conduct analysis aimed at identifying sybils. ๐Ÿ› ๏ธ

5๏ธโƒฃ JP (Exodus): The developer of the #Exodus cryptocurrency wallet has declared its listing on the New York Stock Exchange (NYSE American). Securities under the ticker EXOD will debut on the market on May 9, 2024. ๐Ÿ’ผ

๐Ÿ“ฉ If you found these updates informative, consider subscribing for more content or drop a like below!

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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๐Ÿ“ˆ Prediction (BTC, BNB and TON): ๐Ÿ˜ BTC/USDT - The price of #Bitcoin has been fluctuating around $68,500 for several days but has yet to turn this level into support. This is crucial if the cryptocurrency aims to establish a new ATH, as the barrier between #BTC and ATH ($73,650) lies at $71,800. Since the beginning of February, a macro flag has been observed on the BTC chart. This bullish continuation pattern targets a 45% increase, reaching $92,505. However, a more realistic scenario is the absorption of the ATH, which is only 8% higher than the current price. Nevertheless, the third quarter is known as one of the slowest months in terms of market growth. ๐Ÿ˜€ BNB/USDT - The last time BNB's price reached its all-time high was three years ago, in May 2021. The altcoin potentially could have repeated this feat last month but failed the attempt. Nevertheless, the steady price growth over the past month has bolstered investor optimism. Binance's native token is currently only 13% away from its ATH ($686). The Ichimoku Cloud not only highlights the bullish sentiment but also sits below the candles, fueling belief in a new historical high. However, given that investors have been disappointed before, they might decide to sell their coins in June. If the #BNB price does not break the all-time high, the altcoin may lose its upward trend and fall to $575 or lower. ๐Ÿš€ TON/USDT - Toncoin showed fantastic performance in the second quarter of 2024. It not only updated its ATH but is also ready to push it further. To do this, the price needs to turn the $6.5 mark into a support level. If this happens, #Toncoin could initiate a 15% increase, breaking through the $7.0 barrier and reaching an ATH of $7.6. Although overall market signals support the bullish scenario, the $7.0 mark is a key resistance. #TON has failed to overcome this barrier three times since April, and if it happens again, the altcoin is likely to fall to $6.5. Losing this support could send TON back to $6.0 or lower. ๐Ÿ‘ Please share!
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๐Ÿ“ˆ Prediction (ADA, SAND and AXS): ๐Ÿš€ ADA/USDT - On May 21, the price of #Cardano reached a peak of $0.50 and then retreated from it. The Awesome Oscillator (AO) technical indicator confirms the current trend of ADA distribution, as it now shows red bars on the histogram. This indicator measures market momentum, identifies the current trend of the cryptocurrency, and potential price reversal points. When AO shows red bars, the short-term momentum decreases faster than the long-term momentum. This usually indicates increased selling pressure and hints at a possible price decline. Moreover, the AO #ADA has shown only red bars since April 1. Consequently, a bearish sentiment has dominated the Cardano market for over 60 days. If the selling pressure continues to increase, the price may fall to the $0.40 level, where it was last seen in December 2023. ๐Ÿ˜‚ SAND/USDT - The MACD is a momentum indicator that compares the dynamics of the 12-day and 26-day exponential moving averages (EMA). The index consists of two lines โ€” the MACD line and the signal line. When the short-term moving average crosses below the long-term moving average, it is considered a signal to sell and close long positions. As seen on the SAND chart, the MACD line (blue) crossed the signal line (orange) from top to bottom. Traders may consider this an opportune moment to sell. If #SAND sales increase, the price may fall below $0.4 and reach $0.36. ๐ŸŽฎ AXS/USDT - The price of AXS, the token of the play-to-earn platform Axie Infinity, rose by 11% last month. However, a dip below the 20-day exponential moving average (EMA) signals bearish sentiment. In the coming weeks, #AXS may lose some of the recently gained points. The 20-day EMA helps track the average price of an asset over the past 20 days. When the cryptocurrency price falls below this key moving average, the market is dominated by sales, which is considered a bearish signal. If the selling pressure on AXS continues to grow, its price may drop to $7.3 and then to the long-term support level of $6.76. ๐Ÿ‘ Please, share!
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