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Will Bitcoin's Bull Run Soon Begin Again? Bitcoin miners have capitulated to levels similar to December 2022, according to a recent X post by CryptoQuant chief of research Julio Moreno. Following FTX's demise in December 2022, the preceding cycle likewise hit rock bottom around that time. A low point for the cryptocurrency sector was reached when the Sam Bankman-Fried-led exchange collapsed, leading to widespread fear and sell-offs. The massive selling pressure ultimately led to Bitcoin's precipitous price drop. A 7.6% drop in the Network True Hashrate was a hallmark of the Bitcoin miners' surrender at that moment. Network True Hashrate Drawdown is now at -7.6% as per Julio Moreno's article on X. Miners' difficulties to sustain operations in a tight financial position are reflected in the Network True Hashrate Drawdown measure, which analyzes the decline in computing power committed to Bitcoin mining. Several possible effects on the price of Bitcoin might result from the accompanying miner surrender and the drastic drop in the Network True Hashrate. Because of this, selling pressure on Bitcoin may rise if miners decide to unload their holdings, as has happened in recent weeks. The result may be a precipitous decline in the value of Bitcoin as a result of this. Historical market recoveries have been preceded by times of substantial miner surrender. In addition, the article notes that in December 2022, when the Network True Hashrate Drawdown was at its lowest point, the Bitcoin market hit cycle bottom. Based on this, it seems like Bitcoin could be ready for a price recovery shortly. #CPIAlert #BTC $BTC
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Why PEPE Price Has Struggled Over the Weekend PEPE plummeted on Saturday, reversing some of its gains from the week. PEPE fell 7.5% in 24 hours to $0.00001088, a price drop. PEPE's pricing issues are part of the market decline, but whale migration may have worsened them. Recently, a crypto whale sold a lot of PEPE tokens for ETH. On-chain data suggests a single wallet traded over 1.4 trillion PEPE tokens for ETH, lowering price. Expectations for ETH Spot ETF Approval TheDataNerd reported that a PEPE whale, identified as “0x837,” switched over $18 million to Ethereum over the weekend. A massive departure is bearish for PEPE. Staked Ethereum assets in the Compound protocol indicate a long-term investment. The whale deposited 300 billion PEPE, worth $3.85 million, into Binance, according to on-chain statistics. This deposit cost the whale $1.73 million. Interestingly, this deposit was ongoing. The whale deposited 1.1 trillion PEPE tokens worth $14.42 million to Binance, which were presumably converted to ETH. Thus, this whale has deposited 1.4 trillion PEPE on Binance in two days. Over the previous two days, whale “0x837” withdrew 1,728 ETH worth 5.86 million from Binance, bringing its total of 4,374 ETH worth $14.91 million. Despite losing money, this whale converted all of its PEPE holdings into ETH, suggesting a purposeful investment choice. Market confidence in Ethereum is boosted by the probable introduction of Spot Ethereum ETFs in July. Many market players have compared Ethereum to Spot Bitcoin ETFs and predicted a similar increase. Bryan Armour, an ETF analyst at Morningstar, thinks Spot Ethereum ETFs may not be as exciting as Bitcoin because of their market sizes. PEPE is trading at $0.00001129, up marginally from Saturday's lows. The meme token has fallen 3.58% and 3.77% in 24 hours and 7 days, respectively. Ethereum fell 3.2% in the previous week to $3,390. #PEPE #US_Inflation_Easing_Alert $PEPE
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In July, the market worth of 2 cryptocurrencies will hit $10 billion. With Bitcoin's (BTC) price being relatively stable at $69,000 and the market capitalization of all cryptocurrencies remaining unchanged at $2.3 trillion, the cryptocurrency market has had a mixed performance in the last few weeks. PolkaDot Polkadot (DOT), whose market valuation is approaching $8.74 billion at the current price of $6.08 per share, is expected to surpass $10 billion by July. Polkadot, which has a 5% weekly rise, has been able to withstand recent market declines because to its reputation for decentralized applications and interoperability. Optimism about its possible recovery is emphasized by analysts, who point out strategic purchasing opportunities. Integrating Real-World Assets (RWAs) to encourage mainstream acceptance, Polkadot's ecosystem is constantly growing with significant initiatives like Energy Web, Xcavate, and Phyken. The long-term potential of DOT is being highlighted by the fact that, according to crypto researcher Michael Van De Poppe, its charts are taking on a noticeable uptick. Chainlink With a market worth of $8.29 billion and a price of $13.64, Chainlink (LINK) is well-positioned to hit $10 billion in the near future. With an 8.3% daily rise, Chainlink—a frontrunner in decentralized oracle solutions—has shown market resilience and recovery potential in the face of cautious market sentiment. The success of this technology depends on its ability to overcome technical resistances, increase its usefulness beyond blockchain ecosystems, and take advantage of the increasing integration of DeFi. The potential of Chainlink was shown in a recent partnership with DTCC and other large U.S. financial institutions such as BNY Mellon and JP Morgan (NYSE: JPM). Chainlink is doing well and might reach a $10 billion market valuation soon thanks to widespread industry backing and practical uses. #Polkadot #Chainlink $DOT $LINK @Polkadot Network @Chainlink
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July Edition: 3 Cryptos to Buy Before Altseason Sends Them to the Moon nuco.cloud optimizes speed and efficiency by dynamically distributing computing jobs over its network. Cardano has struggled this year, but a protocol change might help. Aave: Aave's busy schedule will keep things entertaining for years. nuco.cloud Rebrands to Lead Global Cloud Computing The pioneering decentralized cloud computing platform nuco.cloud proudly presents its redesign, a major step toward becoming a worldwide cloud technology leader. nuco.cloud provides unequaled computing capacity to enterprises globally using blockchain technology, assuring efficiency, security, and scalability. This rebranding shows nuco.cloud's dedication to innovation, quality, and seamless integration and use. For companies seeking high-performance computing solutions, the platform's powerful architecture enables AI, data analytics, and complicated simulations. Nuco.cloud improves resource use and reduces environmental impact while offering outstanding performance with a fresh emphasis on sustainability and energy efficiency. nuco.cloud, a pioneer in cloud computing, drives digital transformation and empowers organizations with dependable, scalable, and secure cloud solutions. nuco.cloud combines innovation and performance for the future of computing. Cardano Most cryptocurrencies have gained this year, while Cardano has plummeted 30% YTD. The dip may be due to the smart contract's platform being sidelined by “Ethereum killer” Solana (SOL-USD). Solana, known for its quickness, gained 45% YTD. When Cardano hard forks to launch Voltaire, its final development phase, ADA investors hope things will improve this month. Aave Aave may also break out because to an ecosystem update. In May, cofounder Stani Kulechov said on X that “Aave Network is planned to come after V4,” indicating an Ethereum-based second layer. #nucocloud #aave #solana #VanEck_SOL_ETFS $SOL
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