Ethereum Hits $3,800: Dencun Upgrade and ETF Hype Propel Surge #Write2Earn‬ #TrendingTopic #Etherum #etherumETF

Crypto Analyst Van Pope speculates Ethereum reaching new ATH as it surged to $3,800.

Analyst suggests factors behind this surge might be the upcoming Dencun upgrade and potential ETF approval speculation.

ETH/USDT pair shows upward movement compared to BTC/USDT which barely moved post Bitcoin ATH.

Michael Van Pope, a prominent crypto analyst, took to X speculating a new all-time-high for Ethereum. He stated two key factors driving the bull run could be the Dencun upgrade and the likelihood of ETF approval. Ethereum (ETH) crossed $3,000 and surged to $3,800 earlier this week, marking its highest value in nearly two years.

The next in line for a potential all-time high test is #Ethereum.

Why?
– Dencun upgrade.
– Potential Spot ETH ETF approval.

Crucial resistance is approaching, but the $BTC pair has barely moved.

We'll likely see more strength coming from this asset. pic.twitter.com/LyWh8ht9ow

— Michaël van de Poppe (@CryptoMichNL) March 6, 2024

The Dencun upgrade, scheduled for release on March 13, is poised to be one of Ethereum’s most significant updates since the transition to Proof-of-Stake consensus. This upgrade brings the implementation of “proto…

BONK, PEPE, FLOKI, SHIB Price Reversal Soon, Meme Coin Party to End? #TrendingTopic #Write2Earn

The massive surge in coin prices comes along with surge in trading volumes and social volumes hinting at further price volatility.

Satoshi Street witnessed a massive rally across the entire meme coin sector, With Shiba Inu (SHIB), Dogecoin (DOGE), Pepe coin (PEPE) registering gains anywhere between 30-50%. As meme coins receive a push from the broader market rally, investors need to remain cautious into taking fresh bets.

Insights provided by on-chain data provider Sentimental reveal a significant surge in trading volume for meme coins, particularly those that have garnered attention over the past week.

$SHIB , $PEPE , $FLOKI, and $BONK have witnessed an extraordinary rise in trading volume, averaging an increase of over 3,000% in the past week alone.

The surge in trading volume corresponds with the soaring prices and heightened interest from the crowd in these meme coins. Sentiment suggests that combining the spike in trading volume with a surge in social volume could serve as a crucial indicator of volatility and potential price reversals, whether investors are anticipating a market top or bottom for any asset, meme coin, or otherwise.

As we enter the new week, some of the top meme coins like Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe Coin (PEPE), continue to rally with magnificent price boosts and strong trading volumes.

The dogecoin (DOGE) whales have been scooping up massive supplies pushing the DOGE price up another 23% in the last 24 hours, to $0.162. With this, dogecoin has extended its weekly gains to more than 92%.

Since January, there has been an increase in the number of addresses holding over 100,000 DOGE, while there has been a slight decline in addresses holding over 1 million DOGE. This indicates that traders, typically associated with larger addresses on exchanges, are accumulating DOGE rather than engaging in active trading. Additionally, the surge in Dogecoin’s price follows historical patterns observed before previous Bitcoin halvings.

Shiba Inu Coin Ignites Market with Massive Token Burn Strategy #Write2Earn #Shib #ShibaPriceAnalysis

In a move that electrified the cryptocurrency community, the Shiba Inu coin showed impressive market activity by burning a significant quantity of its tokens this past Saturday. The coin, often compared to DOGE, saw a transfer of over 42 million SHIB to a dedicated burn wallet, an action aimed at improving the coin’s economic appeal. This initiative reflects the vigorous commitment of the Shiba Inu community to bolster the coin’s market value and demand.

Intensified Token Burns Signal Strong Market Optimism

The sustained effort to burn Shiba Inu tokens is generating a bullish sentiment among investors, as evidenced by the uptick in the burn rate. This strategy has been accompanied by a noticeable yet modest rise in the coin’s price, signaling solid community backing.

Cryptocurrency analysts remain optimistic about SHIB’s short-term price trajectory, with current market analysis indicating a steady uptrend for the coin’s value. Data from Shibburn, a platform that monitors Shiba Inu token burns, confirmed that the 42.05 million SHIB transfer on February 24th marked a significant leap in the burn rate, with a 55.17% daily increase and a 113.62% rise on a weekly scale.

The Shiba Inu community has already incinerated 410.70 trillion of the original SHIB supply, with a remaining circulation of 581.44 trillion. This aggressive burning strategy is reinforcing the bullish stance of SHIB enthusiasts.

The SHIB ecosystem ushered in another new development with the introduction and prompt sell-out of the SHEboshi DN404 test token, further stirring excitement among followers.

Currently, the price of Shiba Inu has witnessed a 0.28% increase within the last day, trading at $0.00000953. This upswing in value mirrors the community’s recent efforts, particularly the heightened burn rate and the fast-selling SHEboshi tokens.

Shiba Inu’s price trajectory over the past month might be setting the stage for a more substantial upsurge.

Ripple Network Sees Major XRP Transfers to Exchanges #Write2Earn #Ripple #XRP🚀

Recent activity on the Ripple network indicates that large quantities of XRP have been transferred to cryptocurrency exchanges. This activity, predominantly from unknown wallets, involves substantial sums and could potentially lead to increased selling pressure on the digital asset.

Whale Alerts: Ripple’s Significant Transfers

Data monitoring service Whale Alert reported that 54.8 million XRP, worth about $30 million, has been moved, signaling potential market moves. One transaction sent 28.35 million XRP, valued at approximately $15.5 million, to the Bitso exchange, while another moved 26.5 million XRP, worth $14.5 million, to Bitstamp. These transactions coincide with XRP’s approach to a crucial support price point of $0.53.

The price of XRP has been experiencing a pullback, descending from its recent high of $0.575. Should this decline persist, it would mark a third successive day of depreciation for the cryptocurrency.

Market Reaction and Price Analysis

The community is speculating about the reasons behind these transfers, often associated with impending sales on exchanges. Despite this, the immediate market reaction has been relatively subdued, with XRP’s value dipping by 2.14% in the past day to $0.5369, which equates to 16.9 TRY.

The current downtrend in XRP’s price appears to be in line with the broader market, following Bitcoin’s performance. A potential upswing breaking past the $0.57 mark might suggest a reversal of the current downtrend, hinting at a possible surge toward $0.67. Conversely, a further descent in value could lead XRP to a strong support at $0.46.

Donald Trump Gives a Wink to Bitcoin #Write2Earn #BTC‬ #Bitcoin‬

Trump acknowledged the widespread use of Bitcoin, labeling it as “interesting” but underscored the necessity for regulation.

Despite acknowledging Bitcoin, Trump reiterated his preference for the US dollar, showing caution towards digital currencies. But first, let’s see a brief summary of what’s the evolution of Trump’s opinion about cryptocurrencies.

Trump’s Timeline with Bitcoin / Cryptocurrencies

Trump’s relationship with cryptocurrency has been a journey of evolving views, reflecting the broader debate surrounding the role of digital assets in the global financial system. Initially, Trump expressed skepticism towards Bitcoin, emphasizing their potential for facilitating illegal activities due to their decentralized nature.

In July 2019, he tweeted that he was “not a fan of Bitcoin and other cryptocurrencies,” criticizing their value as “highly volatile and based on thin air.” His administration’s stance on regulation was cautious, focusing on the need to prevent misuse while monitoring the technology’s development. However, the landscape of digital finance has evolved rapidly, and he decided to mint a very successful NFT collection. Then, he talked about banning CBDCs in the US. And so, the pro-Bitcoin thinking continues in Trump.

Trump’s Current Opinion on Bitcoin

In his latest interview, Donald Trump was asked what he thinks about adopting Bitcoin. He answered that he is aware that many people are using Bitcoin and he thinks it is interesting but it needs regulation.

BIG BREAKING 🚨
DONALD TRUMP GOES BIG ON #BITCOIN
Donald Trump says "many people are embracing" #Bitcoin & he's seeing more & more people wanting to pay in #BTC pic.twitter.com/464oXR2SuV
— BITCOINLFG® (@bitcoinlfgo) February 23, 2024

So, Trump’s engagement with these topics in the interview reflects an acknowledgment of the significant shifts underway in the financial sector. He suggests a cautious yet observant stance on the future of money.

Analyzing the Impact of Ripples Token Supply and Sales on Market Dynamics #Write2Earn #XRP🚀

Ripple (XRP) controls more than 45 billion tokens, positioning it as the largest active holder of XRP by a significant margin. The company is selling large amounts of XRP in strategic sales, and its activities are still ongoing in February.

XRP’s Locked Tokens

Specifically, over 40.7 billion XRP are locked in escrow, not yet part of the circulating supply.

However, Ripple still has access over 5 billion in liquid assets that the institution could sell at any moment. In February, 1 billion tokens were unlocked, with 800 million relocked for future release. To date, 260 million XRP have left Ripple’s treasury account.

This is 60 million more than this month’s inflation. The extra amount originated from an inactive wallet address that provided funding to the treasury account with 100 million XRP. However, only the treasury address tagged as ‘Ripple (1)’ by XRP scan is disclosed. The company might have other active sales sources not accounted for in this report. Particularly, the 260 million XRP dumped in February equates to $140.4 million at the current price of $0.54. There are still 40 million tokens behind ‘Ripple (1)’s extra 100 million tokens from February 11th.

This situation could account for some of the recent decline. However, the company can sell billions of liquid holdings at dozens of defined addresses it controls. Also, XRP started trading at $0.50 on February 1st and has shown an 8% increase since the beginning of the month. Nevertheless, it has been trading in a downtrend since its local peak in July 2023 and may now face a short-term pullback following the latest sale on February 20th.

Consequently, it might be difficult to predict the direct impact of Ripple’s sales on XRP’s price by looking at the daily chart. On the other hand, the economic effects of an increase in supply or increased selling pressure can be real, as they affect the bid and could lead to temporary declines if demand is not sufficiently strong.

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Bitcoin’s rally propels market mood to levels of extreme greed not seen since 2021

The cryptocurrency market sentiment has taken a sharp turn towards optimism, as indicated by the latest readings from the Crypto Fear and Greed Index.

This tool, renowned for gauging the emotional temperature of the market, soared to a remarkable 79 on February 13, marking its highest point since the record-breaking highs of Bitcoin in mid-November 2021.

At that time, Bitcoin had peaked at $69,000, showcasing the significant correlation between the index’s readings and the cryptocurrency’s price movements.

This surge in the index to the “extreme greed” category, defined as a score above 74, comes on the heels of Bitcoin surpassing the $50,000 milestone on February 12.

This achievement underscores a robust rally that has seen the leading cryptocurrency gain approximately 13% in value since the star

The index’s jump into extreme greed territory is not an isolated event; it previously reached 76 on January 11, coinciding with the buzz surrounding the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States.

This recent spike, however, follows a month after the U.S. spot Bitcoin ETF launch, hinting at a potential easing of short-term selling pressures that typically accompany such significant news.

Cathie Wood, CEO of ARK Invest, had anticipated a sell-the-news reaction following the ETF approval but remained bullish on the long-term impact, particularly highlighting the SEC’s approval as a green light for institutional investors to engage more fully in the Bitcoin market.

The Crypto Fear and Greed Index, which derives its scores from a variety of indicators including Google Trends, market momentum, social media activity, and market volatility, serves as a critical tool for understanding market dynamics.

Despite its insights, traders and investors are advised to conduct their own research to align their strategies with their investment goals, considering the complexity and volatility inherent in the cryptocurrency markets.

$Shiba Inu’s Shibarium Sees Activity Surge: What’s Behind the Boom?

Shibarium witnesses a 50% surge in activity within 24 hours, driven by established accounts.

Shiba Inu token experiences a price sell-off following an 8.9% rally, now stabilizing around $0.0000092.

Despite price fluctuations, SHIB investors remain optimistic, anticipating renewed upward momentum.

In an intriguing development, Shibarium, the blockchain platform associated with Shiba Inu (SHIB), has experienced a notable uptick in activity within a mere 24-hour window. This surge, marked by a remarkable 50% increase in active accounts conducting transactions, seems predominantly driven by existing Shibarium users rather than fresh registrations.

Coinciding with this surge, the Shiba Inu token has witnessed significant price movements. Despite an initial 8.9% surge, the token encountered a sell-off, leading to a 4.1% dip within the same timeframe. Nonetheless, it appears to have found support around the $0.0000092 threshold, hinting at potential stability for the cryptocurrency.

Despite these fluctuations, optimism prevails among SHIB investors. Many anticipate the token consolidating around its current support level, potentially paving the way for renewed upward momentum. As the crypto market closely observes these developments, Shiba Inu remains a focal point for both enthusiasts and investors.

Presently, Shibarium boasts an impressive count of active accounts, totaling 63,681, with a whopping 1.351 million addresses in its ecosystem. The network’s daily transaction volume has surged to 2.04 million, indicating a vibrant and active community within Shibarium.

On the other hand, based on CoinCodex’s analysis, Shiba Inu‘s price is anticipated to decline by approximately 6.27% and settle at around $0.00059033 by February 17, 2024. Technical indicators suggest a bullish sentiment at present, with the Fear & Greed Index registering 70, indicating a state of greed.

The post Shiba Inu’s Shibarium Sees Activity Surge: What’s Behind the Boom? appeared first on Crypto News Land.

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Ripple’s Trading Volume Soars.

The latest figures reveal a striking escalation in XRP derivatives trading, with a 68.2% upturn within the past day, hitting a high of $867.89 million. Complementing this spike, the spot market volume for XRP has also experienced a rise, reaching $837.35 million over the same period.

Intensified Interest in XRP Transactions

Cumulatively, trading activity for XRP has now soared beyond a billion dollars, marking a resurgence of trader interest in the cryptocurrency. Nevertheless, despite the heightened trading volumes, the price movement of XRP presents a mixed picture, not necessarily following the upward trend in volume.

Amidst the increased liquidity, XRP has emerged as one of the most liquidated cryptocurrencies, with a staggering $190,000 worth of positions cleared out, predominantly affecting long position holders who make up 99.4% of the liquidations.

The recent price decline of XRP, struggling to break through the resistance at $0.535, has been a critical factor in the mass liquidation events. Although XRP did register a slight gain of 2.5% on Saturday, the general trend has been a retracement in value, indicating a bearish outlook.

Price Trend Faces Downward Pressure

The altcoin’s future price trajectory is shrouded in uncertainty, but current market trends and price movements point towards a continuation of the bearish trend. This suggests that the increase in trading volumes may not translate into a sustained rise in price for XRP.

Despite the initial optimism drawn from the burgeoning trading volumes, the concurrent dip in price provides a more complex view of XRP’s market stance. Observing its current price, XRP appears to be consolidating around the $0.53 mark. Ripple’s price behavior is also notably characterized by rapid declines and slow recoveries, testing the endurance of investors significantly.

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