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🚀 Solana Defies Market Trend With Impressive Gains, Receives Scam Accusations 🕵️‍♂️ 💹 Solana's Recent Performance: The native cryptocurrency of the Solana layer one (L1) blockchain network, SOL, crossed $200 for the first time since November 2021. Despite being 22% away from its all-time-high of $260, its market capitalization has already exceeded $81 billion. 📉 Recent Downturn: As of reporting time, Solana (SOL) faced a 10% downturn in the recent 24 hours. On March 19, 2024, Solana also commanded the sixth-largest trading volume among all cryptocurrencies, indicating $11.8 billion over the past day. 🔍 On-Chain Activity: On-chain data indicates various metrics such as total value locked (TVL), active wallets, and network volumes reached all-time highs over the weekend amidst a surge in pre-sale activity. However, there has been negative inflow in on-chain activity over the past week, suggesting a lack of fund influx. 🚀 Solana-based Memecoins Rally: Solana’s recent surge was potentially fueled by market participants' interest in memecoins launched upon the network. Memecoins like Bonk (BONK) and Dogwifhat (WIF) saw significant market capitalization growth. However, this trend has attracted scrutiny regarding scams and fraudulent activities. 🔥 SLERF Incident: SLERF, a new Solana-based meme asset, amassed over $1.8 billion in trading volume within days of its launch, surpassing all Ethereum-based exchanges in trading volume on its first day. However, a burn address mishap resulted in the loss of $10 million worth of tokens, leading to scam accusations and market manipulation suspicions. #SOL🔥🔥🔥🔥 #Solana🚀 #SolanaTrading

🚀 Solana Defies Market Trend With Impressive Gains, Receives Scam Accusations 🕵️‍♂️

💹 Solana's Recent Performance: The native cryptocurrency of the Solana layer one (L1) blockchain network, SOL, crossed $200 for the first time since November 2021. Despite being 22% away from its all-time-high of $260, its market capitalization has already exceeded $81 billion.

📉 Recent Downturn: As of reporting time, Solana (SOL) faced a 10% downturn in the recent 24 hours. On March 19, 2024, Solana also commanded the sixth-largest trading volume among all cryptocurrencies, indicating $11.8 billion over the past day.

🔍 On-Chain Activity: On-chain data indicates various metrics such as total value locked (TVL), active wallets, and network volumes reached all-time highs over the weekend amidst a surge in pre-sale activity. However, there has been negative inflow in on-chain activity over the past week, suggesting a lack of fund influx.

🚀 Solana-based Memecoins Rally: Solana’s recent surge was potentially fueled by market participants' interest in memecoins launched upon the network. Memecoins like Bonk (BONK) and Dogwifhat (WIF) saw significant market capitalization growth. However, this trend has attracted scrutiny regarding scams and fraudulent activities.

🔥 SLERF Incident: SLERF, a new Solana-based meme asset, amassed over $1.8 billion in trading volume within days of its launch, surpassing all Ethereum-based exchanges in trading volume on its first day. However, a burn address mishap resulted in the loss of $10 million worth of tokens, leading to scam accusations and market manipulation suspicions.

#SOL🔥🔥🔥🔥 #Solana🚀 #SolanaTrading

Aviso legal: Se incluyen opiniones de terceros. Esto no respresenta una asesoría financiera. Puede haber contenido patrocinado. Lee los TyC.
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💥Crypto Prices Today June 11: Bitcoin Slips to $67K, ETH Below $3,600 While INJ & GNO Rally 4-9% 📉 Crypto Market Decline Today, the crypto market experienced significant price drops, raising bearish concerns. Bitcoin (BTC) slipped to $67K, while Ethereum (ETH) fell below $3,600. Altcoins like Solana (SOL), XRP, and meme coins also declined. However, Gnosis (GNO) and Injective (INJ) bucked the trend, rallying 4-9%. 📊 Market Overview Global Crypto Market Cap: Down 2.49% to $2.48 trillion.Total Crypto Market Volume: Up 53.88% to $74.94 billion. 📈 Top Crypto Prices Today (June 11) Bitcoin (BTC): Price: $68,315 (-1.83% in 24 hours) 24-hour range: $67,905.26 - $70,146.84 Dominance: Increased by 0.21% to 54.14% Ethereum (ETH): Price: $3,576.45 (-2.86% in 24 hours) 24-hour range: $3,571.27 - $3,711.43 Market Cap: $427.84 billion (-3.23%) Solana (SOL): Price: $155.50 (-2.48% in 24 hours) 24-hour range: $155.22 - $162.83 XRP: Price: $0.4859 (-2.68% in 24 hours) 24-hour range: $0.4849 - $0.5053 Dogecoin (DOGE): Price: $0.1419 (-2.58% in 24 hours) Shiba Inu (SHIB): Price: $0.00002261 (-2.92% in 24 hours) 📈 Top Crypto Gainers Today Gnosis (GNO): +8.50% to $353.47 Injective (INJ): +4.61% to $28.92 Oasis (ROSE): +4.04% to $0.1246 Uniswap (UNI): +1.20% to $9.90 📉 Market Sentiment The declines come ahead of the Federal Open Market Committee (FOMC) meeting, with massive liquidations in anticipation. Market analysts expect the FOMC to maintain interest rates at a 23-year high, with up to three rate cuts by the end of 2024. Despite the downturn, Ethereum’s fundamentals remain strong, leading in fees over Layer 2s by a wide margin. 📅 Looking Ahead Investors are on high alert for the FOMC meeting and Producer Price Index (PPI) data, which could influence Ethereum and the broader market's next direction. Ethereum’s strong fundamentals may help sustain its price if the FOMC outcome is unfavorable for the markets.
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🚀ETH/BTC Price Prediction: Why Is Ethereum Price Crashing Ahead Of FOMC? 📉 Ethereum Breaks Downward Ethereum's price broke downward from a consolidation zone, invalidating the previous bullish flag. The market eagerly awaits the Federal Open Market Committee (FOMC) meeting on Wednesday to see if interest rates will change. 📊 Recent Price Action On Tuesday, Ethereum was priced at $3,549, dropping 3.7% in 24 hours and 5.9% over the past week, according to CoinGecko. The price broke below its consolidation range, invalidating the bull flag on the 4-hour chart, although it remains above the 50-day and 200-day SMAs on the daily chart. 🔻 Bearish Scenario If bearish momentum continues, Ethereum could find support at the 50-day SMA, coinciding with the 0.5 Fibonacci retracement level around $3,400. Further support levels are at $3,200 and $2,900. 📈 Bullish Scenario If bulls regain control, Ethereum could test the lower boundary of the range around $3,650. A sustained rally might see it re-enter the range, moving between $3,700 and $3,950, and potentially breaking upwards to $4,200. The strongest resistance currently is at $3,650. 🤔 Why is Ethereum Crashing? The drop in Ethereum's price coincides with Bitcoin's decline and comes a day before the FOMC meeting. Market panic is linked to uncertainty about the FOMC's decisions. Analysts from Bankrate predict that interest rates will stay at a 23-year high, with up to three rate cuts before the end of 2024. Despite this, Ethereum's fundamentals remain strong, with te mainnet generating significantly more fees than Layer 2s. 📝 Bottom Line Investors are closely watching the FOMC meeting and Producer Price Index (PPI) data, as these could influence Ethereum's price direction. Ethereum’s strong fundamentals might sustain its price if FOMC results negatively impact the markets.
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🔥Is Bitcoin Price Headed for $90,000? Shift in Market Sentiment as Whales Circle 📉 Bitcoin's Slight Decline On Monday, Bitcoin experienced a minor decline of 0.28%, indicating indecisive movement from buyers and sellers. Falling below $70,000 has increased supply pressures on various altcoins, suggesting the consolidation phase may continue. However, whale and retail purchasing activity hints at a possible significant market rally ahead. 📊 Resistance and Trendlines On June 6th, Bitcoin retreated from the combined resistance of $71,750 and the upper trendline of the flag pattern. Since mid-March, this pattern has led to a sideways trend within two parallel trendlines acting as dynamic resistance and support. 📉 Retail Investor Behavior Analyst Axel Adler Jr. noted a significant drop in Bitcoin demand among retail investors, with a -17% decline in investments under $10K. A similar previous downturn of -18% eventually led to a price increase from $40K to $70K, suggesting potential future growth. 🐋 Whale Activity Analyst Maartun highlighted a significant increase in long positions by Bitcoin whales on platforms like HTX Global and Bybit. A sharp rise in the “Bitcoin: Taker Buy Sell Ratio” on Bybit suggests major investors are optimistic about Bitcoin’s future value. This pattern of whale accumulation amidst retail investor withdrawal often precedes a major upswing. 🚀 Potential Breakout A breakout from the flag pattern would signal the end of consolidation, with a BTC price prediction target of $90,000. 📈 Technical Indicators EMAs: BTC trading above daily EMAs (20, 50, 100, 200) indicates the path of least resistance is upward. MACD: Multiple crossovers between the MACD (blue) and signal (orange) lines indicate neutral and uncertain market sentiment.
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🔥US CPI Sparks Bitcoin Volatility: New High or Price Plunge? 📊 Dixon’s Warning on Market Volatility Matthew Dixon, CEO of Evai, has cautioned that the upcoming Consumer Price Index (CPI) release on June 12th could lead to significant market volatility, especially for Bitcoin. With Bitcoin near its all-time high (ATH), this data could trigger either a new surge or a dramatic correction. Despite the uncertainty, Dixon remains optimistic about Bitcoin's long-term outlook, expecting a new ATH soon. 📈 The CPI’s Role in Crypto Markets The CPI, which measures the average change in prices paid by urban consumers for a basket of goods and services, is a key inflation indicator. Higher-than-expected CPI readings can lead to increased interest rates as central banks try to control inflation, affecting various investment markets, including cryptocurrencies. For June 12th, the CPI median forecast is 0.1%, with a Year-Over-Year forecast of 3.4%. The Core CPI, excluding volatile food and energy prices, has a median forecast of 0.3% monthly and 3.5% year-over-year. These forecasts are slightly lower than the previous month's data. 💹 Bitcoin Market Performance: An Overview Bitcoin is currently priced at $67,840.10, with a 30-day change of +11.2%, close to its peak of $73,000. Since the Bitcoin halving in April, BTC has been highly volatile, making several attempts to break its ATH. Despite the short-term uncertainty, Dixon believes the long-term outlook for Bitcoin remains positive, with a new ATH on the horizon. 🔍 Lot Hinges on the CPI Release! The upcoming CPI data release is crucial for understanding inflation trends and anticipating Bitcoin’s market movements. Whether the data meets expectations or not, it is likely to significantly impact BTC’s price. Investors should stay vigilant and prepare for potential market shifts.
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