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Ethereum claims 18.75%, while Stablecoins share 7.17% of the entire crypto market cap.
Bitcoin remains the dominant cryptocurrency with a market cap of $514 billion, reflecting 44.32% of the total crypto market cap.
TechDev used this constant to match the pointy tops on the Bitcoin chart and combine both indicators to find an intersection. The analyst deduced the next target with the indicators’ point of intersection, which is December 2023, with the price of Bitcoin between $160,000 and $180,000, as mentioned earlier.
TechDev’s analysis shows that Bitcoin’s price has developed in cycles and has respected this price development pattern for the last three cycles. Using a chart that plotted the Bitcoin log price against the adjusted log time, TechDev shows the interval between cycles is 10.2 log periods.
MicroStrategy founder Michael Saylor addresses Bitcoin’s superiority at the Bitcoin Conference 2023.
The trader and analyst Ali tweeted that the number of active LTC addresses has spiked in the past few days.
While the number of addresses climbed on Solana, the altcoin’s price declined. So far, SOL’s price has dropped by 13% since the beginning of May 2023. The price started the month at $21.66, but as of the time of writing, it had dropped to $19.77.
Solana is one of the prominent blockchains for building smart contracts. It is so popular among blockchain users that it is considered one of the Ethereum competitors. Data from The Block, a blockchain analytic tool, shows that Solana added more than five million new addresses in May 2023, the highest number since October 2022.
While the number of addresses climbed on Solana, the altcoin’s price declined.
The international regulatory environment for cryptocurrency is improving, and the company is eyeing a retail expansion on the continent, Bakkt chief product officer Dan O’Prey said. On the whole, O’Prey saw positive long-term trends.
Given the fact that SUI was trading below the 9 and 20 EMA lines on its 4-hour chart, traders may want to wait for it to reclaim a position above the 2 EMA levels before entering into a long position. On the other hand, SUI dropping below $1.1181 would be a signal to short the altcoin, as its price will likely drop to $1.0768.
This bearish move looked as if it was coming to an end, since the RSI line was looking to cross above the RSI SMA line. Should this cross happen, it would signal that bulls successfully defended the support level.
At press time, SUI’s price was resting near a key support level at $1.1181, and technical indicators suggested that it would flip the support into resistance in the next 24 hours. The 9 EMA line on the 4-hour chart was trading bearishly below the longer 20 EMA line. In addition, the RSI line was trading bearishly below the RSI SMA line.
However, the bullish RNDR momentum is waning as bears eye a potential reversal.
While the RNDR market cap surged, the trading volume dipped after profit-taking.
The RNDR bulls have overpowered bears as the price soars to a new 7-day high.
The US takes the top spot for the total number of incidents against entities, with 14 major attacks since 2011.