$TON Price Prediction: Up up, All the Way - BeinCrypto Analytics
Toncoinâs price could continue its ongoing incline as the gradual recovery is painting a path to rally. Plus, the demand could be reinstated once TON crosses the $7.07 resistance.
This would enable a rise to $7.53, an untested level since mid-July. Flipping it into support would allow Toncoin to travel upwards and potentially breach the all-time high of $8.28.
On the other hand, a failed breach of $7.07 would send the altcoin into consolidation within this resistance and $6.43 support. Losing the uptrend could invalidate the bullish thesis, extending the investorsâ wait for profits.
#KDAUSDT is hovering near a key support zone at $0.40, signaling a possible bullish continuation. The price is within a falling wedge pattern and is now eyeing a breakout above the descending resistance line. The next target? Internal resistance at $0.900!
If momentum holds, a breakout could lead to a significant rally, reflecting past bullish trends. But, caution is keyâif momentum fades, we might see a dip to the lower support range around $0.350â$0.400. Stay sharp!
#Trading #Kadena
Pro-crypto candidate Robert F. Kennedy Jr. is dropping out of the 2024 presidential race, surprising investors by considering an endorsement of Donald Trump.
Kennedy, a staunch cryptocurrency advocate, could sway Trump, who has recently shown interest in Bitcoin. The endorsement could boost pro-crypto regulation under a Trump administration.
Following the announcement, the price of Bitcoin surged 3% to $61,000, a sign that investors see the new political alignment as a potential future for crypto in the United States.
Grayscale, a prominent crypto asset manager, has introduced the Grayscale Avalanche Trust, providing investors with exposure to AVAX, Avalanche's native token. This move comes amid increasing regulatory scrutiny and market uncertainty, raising concerns about the long-term viability of such investment vehicles.
The launch of the Grayscale Avalanche Trust signifies a continued interest in diversifying crypto portfolios despite the prevailing bearish sentiment. However, the market's reaction remains cautious, reflecting broader apprehensions about regulatory challenges and the inherent volatility of digital assets.
Investors should remain vigilant as the regulatory landscape evolves, potentially impacting the performance and accessibility of crypto-related investment products.
As Bitcoin hovers between $60K and $62K, it's casting a shadow over the broader crypto market, with many altcoins likely mirroring its behavior. This situation typically reflects a cautious market stance, where traders are closely monitoring Bitcoin's movements before making decisions on other cryptocurrencies.
### Current Market Landscape:
1. Bitcoinâs Narrow Range: The tight trading range of $60K-$62K indicates that Bitcoin is in a consolidation phase, neither breaking out nor dipping significantly, which introduces uncertainty into the market.
2. Altcoin Reactions: Given Bitcoinâs role as the marketâs benchmark, altcoins are likely to follow its lead. In a scenario where Bitcoin is range-bound, altcoins might also see similar sideways movements without clear direction.
3. Market Sentiment: The current fluctuations suggest a lack of strong momentum in either direction, possibly leading to reduced trading volumes and a choppy market environment.
### Key Indicators to Monitor:
- Bitcoinâs Next Move: A breakout above $62K or a drop below $60K by Bitcoin could spark more substantial market shifts, influencing the broader crypto landscape.
- Altcoin Correlation: Itâs essential to observe whether altcoins continue to move in tandem with Bitcoin or start to diverge, which can occur under certain market conditions.
#Write2Earn! #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021 #BullBanter
If we look on stats then it come to know that @CZ and Sam Bankman Fried are two persons who made most profits through Crypto Trading strategy . Today we will reveal their common strategy that they used and get succeed . Assure you must read full post. First we will discuss both of them personal strategy that was not common and then we will discuss their common strategy .
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We are going to discuss these strategy :
âą Sam Bankman-Fried's Quantitative Trading
âą CZ Volume-based Strategy
âą Arbitrage Trading
Sam Bankman-Fried's Quantitative Trading:
His approach was data-driven, relying on complex algorithms and quantitative analysis to identify trading opportunities. This included market-making strategies, exploiting inefficiencies in the crypto market, and high-frequency trading.
CZ Volume-based Strategy:
CZ focused on high-volume trading to capture small, consistent profits across many trades. The idea was to execute a large number of trades with minimal price movement, thereby reducing risk while still generating profits. This strategy works particularly well in highly liquid markets.
These strategy was their personal and now we will discuss their common strategy . That is:
Arbitrage Trading :
Arbitrage trading was a crucial strategy for both Changpeng Zhao (CZ) and Sam Bankman-Fried (SBF). CZ used this method through high-frequency trading and market-making, profiting from small price differences across various exchanges by executing a large volume of trades. SBF leveraged the "Kimchi Premium," buying Bitcoin in lower-priced markets like the U.S. and selling it at higher prices in South Korea. Both capitalized on the early inefficiencies in the crypto market, using speed, multiple exchange access, and technology to secure consistent profits.
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Kamala Harris Backs Crypto with Promises of Supportive Policies
During a recent Bloomberg News roundtable at the Democratic National Convention (DNC) on Wednesday, Vice President Kamala Harris expressed her support for the cryptocurrency sector, signaling favorable policies to aid its growth. Brian Nelson, a senior campaign advisor, confirmed Harris's commitment to ensuring that emerging technologies like cryptocurrency continue to thrive. This move has sparked discussions among the crypto community, with some viewing it as a genuine effort to engage, while others speculate it could be a strategic bid to win over voters.
Meanwhile, former President Donald Trump remains a prominent figure in the crypto world, boasting a strong following. His âTrump 47â joint fundraising committee has raised over $4 million in cryptocurrencies, and Trump has disclosed owning $5 million in crypto assets, with an additional $7 million earned from his NFTs. The contrast between Harris's newfound support for crypto and Trump's established backing has led to varied opinions on the sincerity and impact of Harris's stance.
Elon Musk, known for his influence on social media, conducted an informal poll on X, asking his followers who they would support in the upcoming presidential election: Donald Trump or Kamala Harris. The poll received over 5.8 million responses, with Trump leading significantly, garnering 73.2% of the votes compared to Harris's 26.8%. This margin has further fueled the debate on Harris's potential impact within the crypto community and her overall political strategy.
#kamalaHarris #Write2Earn! #BinanceBlockchainWeek #BullBanter #donaldtrump
đš Bitcoin Network Sees Fee Spike: Understanding the Cause and Effect đš
$BTC đ‎ïžđȘ
{spot}(BTCUSDT)
đ Fees surge from 0.5 BTC to 60 BTC per hour, a significant increase đ
đ The primary cause: transactions sending BTC to stake in the new Babylon protocol đ
đ The total staking size was limited to 1,000 BTC, creating a temporary rush among users to secure a spot đ
đž Each staking transaction costs users around 0.05 BTC, contributing to the fee spike đž
đ Once the staking limit was reached, fees and transactions began to return to normal, indicating a temporary anomaly đ
đ This event highlights the impact of:
đ High demand on network fees, as users compete for limited staking spots
đ Limited supply (staking size) on transaction costs, driving up fees
đ Insights:
đ Network congestion can drive up fees, as seen in this scenario
đ Temporary spikes can occur due to specific events, like the Babylon protocol staking
đ Bitcoin's decentralized nature means fees can fluctuate rapidly, influenced by network activity
đ Understanding these dynamics helps users prepare for potential fee increases
đ Takeaways:
đ Keep an eye on Bitcoin network activity and events to anticipate fee fluctuations
đ Plan transactions accordingly, considering potential fee spikes
đ Stay informed about new protocols and their impact on the Bitcoin network đ
#BTC
Bitcoin Price in September
Bitcoin September Predictions
BTC rising will also lift altcoins, which have been struggling for a long time, making 20-30% gains easily achievable. Therefore, altcoin investors are eagerly awaiting the days when BTCâs price will once again approach the $70,000 mark. There are at least three reasons for those who believe in a rise.
BTC Supply on Exchanges
The first reason is the amount of BTC held on exchanges. there are 2.68 million BTC on exchanges. In January, the figure was over 3 million, a decrease of 11%. While the price increased by 43%, the supply ready for sale on exchanges significantly decreased.
This data, showing that BTCs are being transferred to cold wallets, is a bullish indicator. The ETF channel is also recovering, with only four negative days in the last 13 days. The recovery in the BTC ETF channel brings to mind the following comments
âA recovery in spot ETF purchases is necessary to boost overall Bitcoin demand and potentially lead to a corresponding price rally.â
Bitcoin Whales
According to Santiment data, addresses holding between 100 and 1000 BTC accumulated 94,700 BTC during the past six weeks. Whales are relatively experienced investors, and if their reserves are increasing in this seemingly negative environment, the medium-term outlook is positive. Demand increased rapidly, especially with the drop to $50,000.
Bitcoin Technical Analysis
The BTC price fluctuating within the bull flag formation is preparing for an upward breakout soon. For this, closures above $60,300 are essential,the price is above this level. The formation target is $68,000, to $70,000 with the estimated date of reaching the target being September.
The $59,446 support is strengthening. If those expecting deeper dips for BTC join the buyers as the current stance continues, it will support the rise, presenting a different detail.
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**Bitcoin Transaction Fees Skyrocket Amid Network Demand Surge**
- Bitcoin (BTC) transaction fees soared by a staggering 937.7%, from $0.74 to $7.679 per transaction on August 22, driven by increased network demand.
- Since July, fees had been stable, mostly under $2, hitting a low of $0.558 on August 18.
- Higher fees can deter everyday users but benefit miners who authenticate transactions.
- On August 23, fees moderated to $0.34, according to mempool data.
- CryptoQuant reports a drop in Bitcoin demand, with holdings decreasing from a 30-day growth of 496,000 BTC in April to a negative growth of 25,000 BTC.
- VanEck suggests Bitcoin miners could earn an extra $13.9 billion annually by 2027 by supplying energy to AI and high-performance computing sectors.
Investing $1,000 Today: These 3 Altcoins Could Turn It Into $1 Million by 2024
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1. CYBRO: A High-Growth DeFi Project
CYBRO is catching the attention of crypto enthusiasts with its presale that has already exceeded $1.6 million. Positioned as a cutting-edge DeFi platform, CYBRO offers unique earning opportunities by utilizing AI within the Blast blockchain. Early investors in CYBRO tokens are seeing a rare opportunity to achieve substantial returns, with experts predicting an ROI of up to 1200%. Investors are particularly drawn to CYBROâs staking rewards, exclusive airdrops, and cashback features, making it a promising candidate for rapid growth. The limited availability in its presale further amplifies the interest from crypto whales and influencers.
2. Solana (SOL): Scalability and Decentralized App Growth
Solana remains a strong contender in the crypto space, focusing on scalability and decentralized applications. With its high transaction speed and developer-friendly environment, Solana aims to attract projects that require a streamlined infrastructure. SOL, the native coin, is crucial for transactions and operating within its ecosystem. As the network grows and more projects are launched, investors in SOL could benefit from the platform's continued expansion, especially during the next crypto bull run.
3. Shiba Inu (SHIB): A Memecoin with Expanding Use Cases
Shiba Inu initially gained popularity as a memecoin but is now evolving into a more serious project with decentralized applications on Ethereum. The SHIB token is part of a larger ecosystem that includes ShibaSwap, an exchange for token swaps, and potential NFT and governance applications. With a passionate community and active development, SHIB presents an intriguing mix of meme culture and practical use cases, making it a potential candidate for those looking for high-risk, high-reward investments.