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⚡️ $ICP price recovers as Internet Computer token burn accelerates Internet Computer token rose for the third consecutive day as data showed an intensified burn cycle for the token. Internet Computer (ICP) token climbed to an intraday high of $12, significantly higher than last month’s low of $8.83. A likely reason for the surge is the latest data showing that the ICP burn cycle continues to rise, signaling the token’s value to developers and users. The cycle burn rate has jumped by over 8,800% on an annual basis. According to the dashboard, the cycle burn rate now stands at over 849 billion cycles, surpassing the 90-day average of 512 billion. This indicates that the network is performing well and that the number of ICP tokens in circulation is not expanding rapidly. As shown below, the burn rate has been steadily rising over the past few months. Further data shows that the number of canisters, or smart contracts, in the Internet Computer protocol has reached a record high of 879,670. This is a significant increase from 374,000 during the same period last year. However, the growth of Internet Computer’s ecosystem has stalled recently. According to DeFi Llama, the network has only 11 decentralized financeapps, with a total value locked of just over $52 million. This makes it much smaller than other popular chains like Base and Sui. 🔸 #ICP price analysis The daily chart shows that the Internet Computer token has bounced back after hitting a low of $8.83 in December. It has broken above the crucial resistance level at $10.97, the highest swing point from July last year. ICP has also moved above the 50-day and 200-day Exponential Moving Averages, suggesting that bulls are gaining momentum. The token is now hovering around the 50% Fibonacci Retracement level and slightly above the lower boundary of the Murrey Math Lines trading range. Most notably, ICP has broken through the key resistance level at $11.60, which was the neckline of a double-bottom pattern at $9.40.
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🔥 $EOS , $IOTA , #Hedera prices lead as Bitcoin stalls at $97k Popular layer-2 cryptocurrencies like EOS, IOTA, and Hedera Hashgraph were among the top gainers on Friday as Bitcoin found resistance at $97,000. EOS (EOS) surged to $0.9570, rising over 36% from its December low and pushing its valuation to more than $1.2 billion. The token’s jump was driven by Binance’s announcement of an APR boost airdrop through the BNSOL Super Stake program. The boost will begin on January 6 and run through January 20, with users set to receive 320,656 EOS tokens valued at nearly $300,000. EOS, launched by Block.one, had a strong performance in 2024 as its turnaround strategy progressed. Its total value locked in the DeFiindustry space rose to over $254 million, fueled by projects such as EOS Rex, Defibox, and Paycash. Hedera Hashgraph (HBAR) rose by more than 10%, reaching a high of $0.3200. The token is up over 630% from its 2024 lows. Its latest rally is linked to speculation about a potential HBAR ETF, with expectations growing ahead of Donald Trump’s swearing-in later this month. Eric Balchunas, head of ETF strategy at Bloomberg, predicted that the SEC will approve a spot HBAR ETF. He noted that the agency has not previously categorized Hedera as a security, which increases the likelihood of approval. Hedera’s ecosystem has also seen growth, with its TVL climbing to $186 million, supported by platforms like Stader, Bonzo Finance, and HLiquity. IOTA (#IOTA ) price increased for three consecutive days, forming a bullish chart pattern known as the “three white crows,” characterized by three consecutive bullish candlesticks. IOTA’s rebound, which we predicted, is because, as shown below, the token formed a falling wedge and a double-bottom pattern at $0.2785. It has also bounced back ahead of the Rebased upgrade, which will introduce more features like staking, full decentralization, and parallelized MoveVM. #BTC
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💰 16 years since the launch of the #Bitcoin network! On January 3, 2009, Satoshi Nakamoto launched the Bitcoin mainnet by mining the very first block (the genesis block) by sending 50 BTC. The hash of this block contains a message left by Satoshi - the headline of a Times article, "Chancellor on brink of second bailout for banks." The article discussed how UK Chancellor of the Exchequer Alistair Darling is being forced to consider new measures to rescue banks amid the economic crisis. #BTC
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📊 Shiba Inu Eyes Monthly High as Large Holders Increase Their Accumulation Leading meme coin Shiba Inu (SHIB) has seen a steady price climb over the past week. This price growth has been fueled by accumulation by its large holders, commonly known as whales. This consistent buying pressure has positioned SHIB for further potential gains, with the coin now eyeing a monthly high. 🔸 Shiba Inu’s Reduced Selling and Whale Interest Fuel Rally According to IntoTheBlock, SHIB has noted a 16% rise in its large holders’ netflow over the past week. These are whale addresses that hold more than 0.1% of the meme coin’s circulating supply. Their netflow tracks the difference between the coins they buy and the amount they sell over a specific period. When large holders’ netflow increases for an asset, it means that more tokens flow into the wallets of major investors or institutions than flow out. This trend indicates that these holders are accumulating the asset, signaling confidence in its future value. Further, SHIB’s price rally has also been driven by the general market’s reduced selling activity out of fear of incurring losses. Per Santiment’s data, the coin’s negative Network Realized Profit/Loss metric indicates that many traders who sold their coins over the past week did so at a loss. Hence, the desire to make gains on their investments has deterred many SHIB holders from selling, contributing to its price hike. 🔸 #SHIB Price Prediction: Profit-Taking Could Cause Decline At press time, the meme coin trades at $0.000022. If selling pressure remains minimal and its whales intensify their accumulation, the Shiba Inu coin price will breach resistance at $0.000026 and revisit the $0.000033 monthly high. On the other hand, if traders start to turn a profit and selling pressure strengthens, the meme coin could shed its recent gains and drop below $0.000021. #Shibainu
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🇺🇸 Bitcoin Keith Michael Saylor Meets Trump's Son Yesterday, MicroStrategy CEO Michael Saylor met with Donald Trump's son Eric Trump at Mar-a-Lago. The details of their meeting have not been publicly disclosed, but they likely discussed cryptocurrency-
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