Best crypto to hold for the long term

$BTC - Bitcoin:
With a market cap over $1.3 trillion, Bitcoin remains a staple for long-term portfolios. Its track record of triple-digit annualized returns, institutional acceptance via spot ETFs, and scarcity make it a top pick, despite limitations in dapp and NFT support.

$ETH - Ethereum:

As the second-largest crypto, Ethereum's diverse utilities, ongoing improvements, and TVL exceeding $64 billion position it as a promising long-term investment. Strong performance in 2024 reaffirms its status as a top contender.

$SOL - Solana:

Boasting a market cap of over $76 billion, Solana offers high-speed, low-cost transactions, competing favorably with Ethereum. Despite network issues, its expanding ecosystem and innovative solutions like Solana Pay make it a compelling choice for long-term holds.

Chainlink (LINK):

With a market cap exceeding $10.7 billion, Chainlink's decentralized oracle network and defi integration offer reliability and security. Partnerships with industry giants like Google Cloud and SWIFT underscore its long-term potential in mainstream finance.


Avalanche (AVAX):

Launched in 2020, Avalanche challenges Ethereum with smart contract capabilities and scalability. Partnerships, including Stripe, and a focus on GameFi projects drive its growing ecosystem, while scalability enhancements and interoperability initiatives position it for sustained growth. Analysts project significant price appreciation, solidifying its appeal for long-term investors.

🔥 BREAKING NEWS: Binance Founder Changpeng Zhao Commences Prison Term in California

Binance founder Changpeng Zhao, known as CZ, has commenced a four-month prison term at a low-security federal facility in Lompoc, California. The confirmation came from his legal representatives at Latham and Watkins, alongside blockchain influencer EljaBoom.

Zhao's conviction stemmed from Binance's violations of U.S. anti-money laundering laws. Despite stepping down as CEO, Zhao retains a significant stake in Binance. The exchange was fined $4.3 billion, with Zhao personally agreeing to a $50 million fine.

His sentence, notably shorter than recommended, underscores the contentious nature of his case. Zhao intends to re-enter the crypto industry post-sentence, emphasizing adherence to regulations.

Biden's Veto of SEC's SAB 121 Repeal Divides Crypto Community

In a surprising move, President Joe Biden vetoed the repeal of the SEC's Staff Accounting Bulletin 121 (SAB 121) despite bipartisan support. SAB 121 is a controversial set of SEC accounting guidelines criticized for deterring investment banks from offering large-scale cryptocurrency custody services.

1. Background

On May 16, Democrats and Republicans united to pass the repeal of SAB 121 with a 60-38 vote. The White House had warned that repealing SAB 121 could undermine the SEC’s ability to protect cryptocurrency investors and indicated that Biden would veto the repeal if necessary, which he did on June 1.

2. Reactions to the Veto

Biden's decision disappointed many who view SAB 121 as harmful and contrary to the majority opinion in both the House and Senate. The Blockchain Association commented on the SEC’s overreach and the ongoing efforts toward regulation. Biden defended his decision, stating that reversing the SEC staff’s judgment could weaken the SEC’s broader authority on accounting practices and emphasized his administration's commitment to protecting consumers and investors.

3. Crypto Community's Response

Cardano co-founder Charles Hoskinson and Galaxy Digital CEO Mike Novogratz expressed their discontent, framing Biden's decision as part of a broader "war on crypto." However, some, like Bitwise CEO Hunter Horsley, supported Biden's cautious approach, noting that U.S. lawmakers want to foster sensible crypto development.

While Congress shows increasing interest in supporting cryptocurrency, the White House remains cautious about its implications. Biden's veto of the SAB 121 repeal could impact his stance in the upcoming presidential elections, highlighting the ongoing division within the crypto community.

BNB's Next Big Leap: Is a Surge Past $600 Imminent or Is a Plunge on the Horizon?

$BNB Binance Coin has been trending downward since peaking at $612 on May 27, forming a descending triangle. As of now, BNB is trading at $593.11, a 3% dip over the past three days.

1. Current Market Position

BNB is slightly below the lower line of the descending triangle, which acts as support. For a rally towards the resistance level at the upper line of the triangle, increased buying pressure is needed. Currently, neither buyers nor sellers are exerting enough pressure to drive the trend decisively.

2. Key Indicators and Market Consolidation

BNB’s Relative Strength Index (RSI) is at 49.50, and its Money Flow Index (MFI) is at 56.60, indicating a balance between gains and losses with no clear dominance by bulls or bears. The Average True Range (ATR), measuring market volatility, has dropped by 23% since May 23, suggesting the market is entering a consolidation phase with less volatility.

3. Bullish Indicators

Despite the balance between supply and demand, several indicators suggest a bullish bias for BNB. The Chaikin Money Flow (CMF) is above zero at 0.05, indicating ongoing demand for BNB. Additionally, the Parabolic SAR dots are below the current price, hinting at a possible short-term price surge. BNB is also trading slightly above its 20-day Exponential Moving Average, suggesting slow accumulation by traders.


BNB is at a critical juncture, with balanced market forces and signs of potential bullish momentum. If buying pressure increases, BNB could break through $600. However, without this surge, the price might remain in its current consolidation phase or even plunge.

Dogecoin Whales Invest $100M in DOGE: Is a Bull Market on the Horizon?

$DOGE - Dogecoin whales, particularly those holding 100 million to 1 billion coins, have been accumulating since May 28, purchasing over $100 million worth of DOGE, as per data from Santiment. This has increased their share of the supply from 20.69% to 21.40%.

1. Rising Demand and Potential Price Increase

The growing demand for DOGE signals a potential price increase. Currently priced at $0.15, Dogecoin's price has been stable over the past week. However, the surge in whale activity might propel DOGE above $0.20, reminiscent of its performance in March.

2. Key Metrics and Mean Coin Age

The Mean Coin Age (MCA), which indicates the average age of coins in wallets, has been rising since early April, suggesting old coins are being distributed, leading to lower prices. Recently, however, MCA has been declining, indicating more holders are keeping their coins in self-custody rather than on exchanges. This trend, if continued, could lead to a parabolic move favoring bulls.


3. Circulation and Selling Pressure

On-chain data shows a drop in the number of Dogecoins circulating, with one-day circulation at 357.04 million. This decrease suggests low selling pressure, which could support a price increase. While low circulation doesn't guarantee a breakout, it is a positive sign.

4. Holder Profitability

At present, 83% of Dogecoin holders are in profit, according to IntoTheBlock. If DOGE's price rises, this percentage could increase to 90%, further encouraging a bullish trend.
The accumulation by DOGE whales and the declining MCA indicate a potential bullish move. While low circulation suggests reduced selling pressure, the alignment of these metrics could lead to a significant price rally for Dogecoin.

The accumulation by DOGE whales and the declining MCA indicate a potential bullish move. While low circulation suggests reduced selling pressure, the alignment of these metrics could lead to a significant price rally for Dogecoin.

Solana Price Prediction: Can SOL Reach $500 This Cycle?

$SOL
In the past week, Solana (SOL) struggled to gain, with its price at $167.12, similar to its value on May 25. Despite a 52.63% Year-To-Date (YTD) increase, this is modest compared to its 2023 surge. However, Solana bulls remain optimistic, expecting SOL to hit $500 by the end of this cycle.


1. Correlation with Bitcoin

Solana's price movement is strongly correlated with Bitcoin (BTC), with a correlation coefficient of 0.83. Therefore, SOL's potential rise to $500 depends heavily on BTC surpassing its all-time high.

2. Social Dominance and Market Sentiment

Solana’s social dominance is currently low at 4.938%, historically a good buying opportunity, suggesting now might be an optimal time to buy SOL between $161 and $168.

3. Open Interest and Potential for a Rally

Open Interest (OI) for SOL has decreased to $807.25 million. If OI rises past $2 billion again, SOL could see a significant price increase, potentially reaching $334 in the coming months.

4. Total Value Locked (TVL) and Network Activity

Solana's Total Value Locked (TVL) is $4.80 billion, up 20.27% over the past 30 days. A rise in TVL to $8 billion could enhance demand for SOL, pushing its price toward the $500 mark. The increasing supply of stablecoins on Solana suggests there is ample buying power to drive SOL's value higher.

While recent price action has been lackluster, various metrics indicate potential for significant growth. The correlation with Bitcoin, low social dominance, potential rise in Open Interest, and increasing TVL and stablecoin supply all contribute to a bullish outlook. If these conditions align, Solana could indeed reach or exceed $500 in the current cycle.

$SHIB - Shiba Inu Faces Potential Decline as 4 Trillion Tokens Hit Exchanges.

Shiba Inu (SHIB) experienced significant price volatility last week, with its value fluctuating sharply. Initially, SHIB’s price surged, reaching $0.000029 by May 29. However, the upward momentum was short-lived as the price began to decline, dropping by 2.5% in the last 24 hours to trade at $0.00002536, with a market cap of over $14.9 billion.

1. Increased Selling Pressure

Investor sentiment turned bearish, leading to increased selling pressure. Crypto analyst Ali noted that over 4 trillion SHIB, worth approximately $103 million, were sent to exchanges in the past two weeks. On-chain data from Santiment confirmed this trend, showing a spike in SHIB’s exchange outflow, increased supply on exchanges, and decreased supply outside of exchanges. Even large holders, or whales, appeared to be selling, as evidenced by a slight drop in SHIB held by top addresses over the past week.

2. Potential for Price Drop

AMBCrypto’s analysis suggests that the high selling pressure could lead to a further price drop. Glassnode data showed an increasing Network Value to Transactions (NVT) ratio after a recent decline, indicating that SHIB might be overvalued and susceptible to a price drop. Technical indicators supported this bearish outlook; both the Chaikin Money Flow (CMF) and the Relative Strength Index (RSI) registered downticks, signaling potential further declines. If the selling pressure persists, SHIB could fall to its support level of $0.000020.

3. Ecosystem Stability

Interestingly, while SHIB’s price was falling, its ecosystem token, Bone ShibaSwap (BONE), showed stability. BONE’s price increased by over 1% in the last 24 hours, trading at $0.6595 at press time.

In summary, SHIB’s recent high volatility and increased selling pressure suggest a potential price correction. While SHIB struggles, BONE remains relatively stable, highlighting a nuanced dynamic within the Shiba Inu ecosystem.

$XRP Price Under Pressure as Demand Declines and Indicators Signal Bearish Trends

Ripple (XRP) has been experiencing a seven-day price decline, closing below its 20-day exponential moving average (EMA) for four consecutive days as of May 31. Trading below this average is a bearish signal, indicating a shift towards sell-offs.

1. Decline in Demand for XRP

Key technical indicators suggest that XRP might continue losing value. The Relative Strength Index (RSI) is at 46.64, and the Money Flow Index (MFI) is at 40.96, both below their neutral points, indicating a decline in demand as market participants are more inclined to sell rather than buy.

2. On-Chain Activity Decline

Santiment’s data shows a 30% decrease in daily active addresses over the past month, along with a 29% drop in new addresses created to trade XRP. Such declines in active and new addresses often precede price drops.

3. Profit Despite Declining Price

Interestingly, despite the declining demand and price, daily traders have continued to record profits. The ratio of transaction volume in profit to loss stands at 1.16, meaning for every loss-making transaction, there are 1.16 profitable transactions.

4. MVRV Ratio Signals a Buying Opportunity

XRP’s Market Value to Realised Value (MVRV) ratio on 30-day and 365-day moving averages are -0.7% and -8.5% respectively, indicating that XRP is currently undervalued. This suggests a potential buying opportunity as the asset is trading at a discount relative to its historical cost basis.

Overall, while XRP shows signs of bearish trends with decreasing demand and on-chain activity, its undervalued status might present a strategic buying opportunity for traders.

$SOL

Solana (SOL) is currently consolidating in a pennant pattern after a significant upward surge over the last three months, but it is showing bearish momentum. The price is moving toward a key support level at $159. If this support is broken, the price could drop further to around $153. As of now, Solana’s price is $168, showing slight increases over the last 24 hours and seven days.
Despite these minor increases, the overall bullish momentum is fading. Analysis of the Santiment social volume indicator reveals a short-term volume increase but a longer-term decreasing trend, aligning with bearish momentum. The long/short ratio from Coinglass indicates more short positions than long ones, suggesting investors anticipate further price declines.
Technical indicators, including the MACD, show a bearish crossover with a negative histogram, suggesting downward momentum. The Stochastic RSI is near the lower bound, indicating a neutral to slightly oversold market. Overall, technical and on-chain analyses point to a potential drop to $153 if the $159 support fails, though a bullish run is possible if the support holds.