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$BTC Loses $65,000: Reversal Still Possible - U.Today Analytics
Despite the fact that Bitcoin dropped below the $65,000 price threshold, the first cryptocurrency might still show us a substantial reversal in the foreseeable future. The next major support for the asset is at approximately $57,000, but if we see a surge of buying support right now, there is nothing holding BTC back from reaching $70,000.
At press time, BTC is trading at:
- $60,750.01 on Binance
- $60,747.15 on WhiteBIT
- $60,748.60 on KuCoin
A number of factors, including increased selling pressure from miners and a shift in general market sentiment toward caution, can be blamed for the recent decline in Bitcoin prices. The present technical arrangement suggests that a rebound may be possible. Essential support has been provided by the 100-day moving average (orange line) at approximately $64,000. The way the price of Bitcoin moves at this point will be crucial to predicting its short-term course.
The liquidity distribution should be taken into account as well. The given chart shows notable liquidity above the $70,000 mark. This implies that if Bitcoin is able to gather steam, a sizable quantity of liquidity is just waiting to be released, which might spur a sharp rise in price. It is advisable for market players to monitor the quantity of transactions.
An increase in trading volume combined with an improvement in the RSI could indicate the start of a reversal. Furthermore, macroeconomic variables and encouraging reports about the acceptance of Bitcoin or regulatory clarity may offer the impetus needed for a price increase.
Despite the fact that Bitcoin dropped below the $65,000 price threshold, the first cryptocurrency might still show us a substantial reversal in the foreseeable future. The next major support for the asset is at approximately $57,000, but if we see a surge of buying support right now, there is nothing holding BTC back from reaching $70,000.
At press time, BTC is trading at:
- $60,750.01 on Binance
- $60,747.15 on WhiteBIT
- $60,748.60 on KuCoin
A number of factors, including increased selling pressure from miners and a shift in general market sentiment toward caution, can be blamed for the recent decline in Bitcoin prices. The present technical arrangement suggests that a rebound may be possible. Essential support has been provided by the 100-day moving average (orange line) at approximately $64,000. The way the price of Bitcoin moves at this point will be crucial to predicting its short-term course.
The liquidity distribution should be taken into account as well. The given chart shows notable liquidity above the $70,000 mark. This implies that if Bitcoin is able to gather steam, a sizable quantity of liquidity is just waiting to be released, which might spur a sharp rise in price. It is advisable for market players to monitor the quantity of transactions.
An increase in trading volume combined with an improvement in the RSI could indicate the start of a reversal. Furthermore, macroeconomic variables and encouraging reports about the acceptance of Bitcoin or regulatory clarity may offer the impetus needed for a price increase.
$SOL Price To Retest $150 Soon? - CoinPedia Analytics
Once the 4th largest cryptocurrency by market capitalization, the Solana price has erased over $22 Billion from its valuation over the past few weeks. Further, the altcoin is currently hovering close to its crucial support level, the outcome of which is unpredictable.
Positively, the SOL price has leveled out its loss from the previous week by adding 9.39% to its portfolio within the last 24 hours with a surge of 122.26% in its trading volume. However, it has recorded a correction of 19.76% in valuation over the past 30 days.
Furthermore, with its recent jump, the Solana coin has formed an inverted cup and handle pattern in its price chart, indicating a rising bearish sentiment for the altcoin in the crypto market.
The Simple Moving Average (SMA) is on the verge of recording a positive crossover in the 1D time frame, suggesting increased price action for the altcoin in the crypto space.
On the other hand, the MACD shows a constant decline in the red histogram, indicating a stronger buying-over-selling pressure for the Solana crypto. Furthermore, the averages display a potential bullish convergence, highlighting the SOL token price may continue gaining value this week.
Once the 4th largest cryptocurrency by market capitalization, the Solana price has erased over $22 Billion from its valuation over the past few weeks. Further, the altcoin is currently hovering close to its crucial support level, the outcome of which is unpredictable.
Positively, the SOL price has leveled out its loss from the previous week by adding 9.39% to its portfolio within the last 24 hours with a surge of 122.26% in its trading volume. However, it has recorded a correction of 19.76% in valuation over the past 30 days.
Furthermore, with its recent jump, the Solana coin has formed an inverted cup and handle pattern in its price chart, indicating a rising bearish sentiment for the altcoin in the crypto market.
The Simple Moving Average (SMA) is on the verge of recording a positive crossover in the 1D time frame, suggesting increased price action for the altcoin in the crypto space.
On the other hand, the MACD shows a constant decline in the red histogram, indicating a stronger buying-over-selling pressure for the Solana crypto. Furthermore, the averages display a potential bullish convergence, highlighting the SOL token price may continue gaining value this week.
The bullish order block — can it save $PEPE ? - AMBCrypto Analytics
Pepe [PEPE] bulls thought they had begun to reverse the downtrend last week after prices consolidated above a former local resistance, now support. However, in the past 24 hours, this began to change.
PEPE is likely to see another double-digit percentage price drop.
The PEPE price prediction is that a move to the $0.0000093 support zone (cyan box), a bullish order block from mid-May, is likely to materialize in the coming days.
The RSI on the daily chart has been below neutral 50 in June, coupled with the lower timeframe bearish market structure flip when the meme coin fell below the $0.00001314 support.
The OBV was barely holding on to a local support level. The trading volume has been low in recent weeks, which suggests that the recent downtrend lacked substance.
A market-wide shift in sentiment could see a quick recovery for PEPE, based on the trading volume as well as the in/out of the money chart.
Pepe [PEPE] bulls thought they had begun to reverse the downtrend last week after prices consolidated above a former local resistance, now support. However, in the past 24 hours, this began to change.
PEPE is likely to see another double-digit percentage price drop.
The PEPE price prediction is that a move to the $0.0000093 support zone (cyan box), a bullish order block from mid-May, is likely to materialize in the coming days.
The RSI on the daily chart has been below neutral 50 in June, coupled with the lower timeframe bearish market structure flip when the meme coin fell below the $0.00001314 support.
The OBV was barely holding on to a local support level. The trading volume has been low in recent weeks, which suggests that the recent downtrend lacked substance.
A market-wide shift in sentiment could see a quick recovery for PEPE, based on the trading volume as well as the in/out of the money chart.
$WIF Price Prediction: Meme Coin Bounceback Likely - BeinCrypto Analytics
WIF price hit a multi-month low after falling to $1.6 over the last four weeks. As a result, WIF’s Relative Strength Index (RSI) has entered the oversold zone for the first time in the history of the meme coin.
This significant technical signal suggests that the asset is undervalued and could be primed for a potential recovery.
The RSI being in the oversold zone often indicates that selling pressure has been overextended. Investors might start to view this as a buying opportunity, which could lead to a reversal in WIF’s price trend.
Consequently, it could draw investors back to the crypto asset, benefitting WIF’s Open Interest (OI). OI had been dramatically reduced owing to the recent drawdown. In less than 20 days, it has been slashed in half, dropping from $466 million to $233 million.
This shows that during the decline, investors rather quickly lost hope of a recovery and decided to close their positions in the Futures market. However, with the price potentially recovering, traders could come back to making bets regarding the price action, pulling the OI back up.
The WIF price has suffered a 60% drawdown over the past month, falling from $3.62 to $1.67 at the time of writing. However, the meme coin seems to be attempting to recover the recently lost profits, bouncing back from $1.52.
If propelled by accumulation from the holders, the meme coin manages to reclaim $2.00 as a support floor, and recovery is possible. This could send the WIF price to $2.36.
But if the breach before $2.00 fails, the altcoin could be subjected to further drawdown. Falling through $1.52 could thus send the crypto asset to $1.21, invalidating the bullish thesis.
WIF price hit a multi-month low after falling to $1.6 over the last four weeks. As a result, WIF’s Relative Strength Index (RSI) has entered the oversold zone for the first time in the history of the meme coin.
This significant technical signal suggests that the asset is undervalued and could be primed for a potential recovery.
The RSI being in the oversold zone often indicates that selling pressure has been overextended. Investors might start to view this as a buying opportunity, which could lead to a reversal in WIF’s price trend.
Consequently, it could draw investors back to the crypto asset, benefitting WIF’s Open Interest (OI). OI had been dramatically reduced owing to the recent drawdown. In less than 20 days, it has been slashed in half, dropping from $466 million to $233 million.
This shows that during the decline, investors rather quickly lost hope of a recovery and decided to close their positions in the Futures market. However, with the price potentially recovering, traders could come back to making bets regarding the price action, pulling the OI back up.
The WIF price has suffered a 60% drawdown over the past month, falling from $3.62 to $1.67 at the time of writing. However, the meme coin seems to be attempting to recover the recently lost profits, bouncing back from $1.52.
If propelled by accumulation from the holders, the meme coin manages to reclaim $2.00 as a support floor, and recovery is possible. This could send the WIF price to $2.36.
But if the breach before $2.00 fails, the altcoin could be subjected to further drawdown. Falling through $1.52 could thus send the crypto asset to $1.21, invalidating the bullish thesis.
Circle CEO Jeremy Allaire's Optimism on the Future of Cryptocurrency
Circle CEO Jeremy Allaire has been leading the company behind the USDC stablecoin for 11 years. According to him, now is the time when he is most optimistic about the future of cryptocurrencies. Why exactly now? He explained this in his recent post at X.
Allaire’s View on the Crypto Market
Jeremy Allaire explains that his view on the crypto market is based on the experience and knowledge of 35 years of observing the life cycles of Internet technologies.
“We’ve seen an unrelenting march of open networks, open protocols, and open software, with layer upon layer of infrastructure on the internet that deepens its utility for society and the economy,” he says.
Allaire points out that the Internet used to lack trust, without which it was limited in terms of the utility it could provide to the world. There was no way to fully trust data, transactions, or computation, leading to a deepening dependence on hyper-centralized structures (corporate and government). However, the role of the Internet in society was increasingly growing, and its ability to perform an increasingly important function in the organization of society and the economy was evident.
He notes that after the emergence of Bitcoin, developers began to think more deeply about how they could extend the foundations of cryptocurrencies to provide a more generalized Internet infrastructure that could become fundamental to society and the economy.
Allaire sees the current state of cryptocurrencies as a new layer of Internet infrastructure that adds an important component of trust that was not previously present. He argues that this allows the industry and the technology behind it to significantly impact social and economic functions.
“This is what drew me into this space” Allaire notes.
The Future of Cryptocurrency
Allaire noted that he is particularly interested in breakthroughs in ZK technology in modern industry. He envisions a future where cryptographic computing is at the heart of important applications across a variety of industries. Over the past two years, this technology has been increasingly perceived as an important part of solving the blockchain trilemma by supporting scalability and interoperability without compromising privacy.
Currently, zkSync is one of the most popular ZK Layer 2 projects in 2024. The coin has gained popularity due to its technical advantages that help ensure speed, efficiency, and privacy for Ethereum users, making it a key player in the development and integration of blockchain applications. Currently, zkSync is available for trading on many cryptocurrency exchanges, including Gate.io, OKX, WhiteBIT, and others.
He also pointed out the growing recognition of digital assets in the global financial system, as well as the fact that clear regulatory frameworks are emerging around the world.
“Bitcoin has become one of the largest and most important alternative investment assets on the planet,” Allaire says.
He added that the largest asset management companies are now offering blockchain-based products and services, including direct regulated access to Bitcoin through spot and futures exchange products around the world.
Aller also emphasized the widespread adoption of stablecoins, which he considers the “killer app” of cryptocurrencies. He predicted that by the end of 2025, stablecoins will be legally recognized as digital currencies in almost all major jurisdictions, potentially transforming the market.
Conclusion
Jeremy Allaire believes that the current moment is the most important for cryptocurrency technologies and their future role in society and the economy. His many years of experience observing the development of Internet technologies allows him to view cryptocurrencies as a new stage of the Internet infrastructure that brings the necessary component of trust to expand their influence on global finance and technological progress.
$USDC $ZK
Allaire’s View on the Crypto Market
Jeremy Allaire explains that his view on the crypto market is based on the experience and knowledge of 35 years of observing the life cycles of Internet technologies.
“We’ve seen an unrelenting march of open networks, open protocols, and open software, with layer upon layer of infrastructure on the internet that deepens its utility for society and the economy,” he says.
Allaire points out that the Internet used to lack trust, without which it was limited in terms of the utility it could provide to the world. There was no way to fully trust data, transactions, or computation, leading to a deepening dependence on hyper-centralized structures (corporate and government). However, the role of the Internet in society was increasingly growing, and its ability to perform an increasingly important function in the organization of society and the economy was evident.
He notes that after the emergence of Bitcoin, developers began to think more deeply about how they could extend the foundations of cryptocurrencies to provide a more generalized Internet infrastructure that could become fundamental to society and the economy.
Allaire sees the current state of cryptocurrencies as a new layer of Internet infrastructure that adds an important component of trust that was not previously present. He argues that this allows the industry and the technology behind it to significantly impact social and economic functions.
“This is what drew me into this space” Allaire notes.
The Future of Cryptocurrency
Allaire noted that he is particularly interested in breakthroughs in ZK technology in modern industry. He envisions a future where cryptographic computing is at the heart of important applications across a variety of industries. Over the past two years, this technology has been increasingly perceived as an important part of solving the blockchain trilemma by supporting scalability and interoperability without compromising privacy.
Currently, zkSync is one of the most popular ZK Layer 2 projects in 2024. The coin has gained popularity due to its technical advantages that help ensure speed, efficiency, and privacy for Ethereum users, making it a key player in the development and integration of blockchain applications. Currently, zkSync is available for trading on many cryptocurrency exchanges, including Gate.io, OKX, WhiteBIT, and others.
He also pointed out the growing recognition of digital assets in the global financial system, as well as the fact that clear regulatory frameworks are emerging around the world.
“Bitcoin has become one of the largest and most important alternative investment assets on the planet,” Allaire says.
He added that the largest asset management companies are now offering blockchain-based products and services, including direct regulated access to Bitcoin through spot and futures exchange products around the world.
Aller also emphasized the widespread adoption of stablecoins, which he considers the “killer app” of cryptocurrencies. He predicted that by the end of 2025, stablecoins will be legally recognized as digital currencies in almost all major jurisdictions, potentially transforming the market.
Conclusion
Jeremy Allaire believes that the current moment is the most important for cryptocurrency technologies and their future role in society and the economy. His many years of experience observing the development of Internet technologies allows him to view cryptocurrencies as a new stage of the Internet infrastructure that brings the necessary component of trust to expand their influence on global finance and technological progress.
$USDC $ZK
The Future of Money:Insights from Coinbase's Latest Report
“Crypto is the future of money,” Coinbase emphasizes in its latest report, “The State of Crypto”. It notes that during the first quarter of 2024, Fortune 100 companies announced a record number of blockchain and Web3 initiatives. However, the biggest obstacle for them was the lack of reliable specialists and the necessary skills. In addition to this, the declining share of American crypto developers further aggravates the situation. Currently, only one out of four developers is from the United States, which is 14% less than in the last five years. But despite this, interest in blockchain technology remains high.
Crypto Help to Update the Financial System
Coinbase draws attention to a significant reduction in the number of crypto developers in the United States. Executives of Fortune 500 companies are concerned about the lack of reliable specialists, seeing this as a bigger obstacle to the introduction of cryptocurrencies than regulatory issues.
At the same time, small businesses are interested in finding cryptocurrency-savvy candidates for future positions in technical, financial, and legal departments. About 68% of respondents believe that blockchain and cryptocurrencies can solve financial problems such as processing time and transaction fees.
“The market infrastructure on which we have been issuing, trading, and wrapping assets into portfolios is 50 years old… What we are starting to see with blockchain technologies is that there are ways to improve that tremendously. There are ways to cut processing times, get more real-time information, and enable 24/7/365 trading because we live in a global world where our businesses operate around the clock.” said Sandy Kaull, Franklin Templeton’s head of digital assets.
Volodymyr Nosov, CEO of WhiteBIT, shares similar views, noting: “Despite the volatility, Bitcoin is gold for the new generation. Young investors won’t invest in gold, they believe in the digital age […] Blockchain is the future that needs to be understood.”
Coinbase notes that recent years have been a period of experimentation with onchain, but technology and financial companies have found the best formula between product and market. In the first quarter, these two sectors accounted for 8 out of 10 onchain initiatives, which shows an upward trend compared to 2023, when they accounted for almost 6 out of 10.
In addition, interest in using onchain technology for customer transactions extends not only to financial companies, but also to the retail, healthcare, and consumer goods industries. These include:
Exploring crypto as a form of payment for remote or global regionImplementing play-to-earn mechanics to enhance video game experienceLetting healthcare patients and customers use digital wallets to pay for products and serviceAccepting healthcare donations in cryptoBlockchain- and NFT-based restaurant loyalty programs
Rising Interest of Using Stablecoins
After that, Coinbase analyzes how stablecoins are gradually beginning to play an increasingly important role in the global economy. In the first quarter of 2024, the daily volume of stablecoin transactions broke records and reached $150 billion.
Stablecoins mitigate the volatility of popular cryptocurrencies such as Bitcoin, making them more suitable for daily transactions. They are widely used for cross-border payments and trading in other cryptocurrencies.
More than 50% of the surveyed companies noted that the introduction of stablecoins could open up new business opportunities. The relative stability of the stablecoins makes them attractive for companies seeking to avoid the fluctuations typical of other cryptocurrencies. Another reason for the attractiveness of stablecoins is low transaction fees and faster processing times.
Pegah Soltani, Head of Payment Products at Ripple, similarly spoke about cross-border payments in the world. She explained that payment standards vary greatly from country to country. For example, using SWIFT or TIPS in Europe and FedNow in the US requires different protocols, which limits the quality and detail of data.
As a result, these systems operate as closed networks that interact inefficiently with each other, requiring significant manual intervention and ultimately leading to an unsatisfactory payment experience.
According to Coinbase, the efficiency and cost-effectiveness of cryptocurrency transactions are compelling arguments in favor of their implementation. In addition, 76% of small businesses express interest in any potential benefits that cryptocurrency may offer, indicating a broad willingness to explore these technologies.
Compass Coffee, mentioned by Coinbase in its report, is already actively implementing payments in stablecoins. With many customers switching from cash to cards, the company said it was tired of paying high transaction fees, funds that could be reinvested in the business. That is why it started offering stablecoins as an alternative payment method.
“Accepting crypto payments could be transformational for our business. We hope to help transform retail experiences by accepting USDC” said Michael Haft, Compass Coffee Founder and CEO
Summary
Coinbase’s State of Crypto report emphasizes the importance of cryptocurrencies as the future of money. The first quarter of 2024 showed a significant increase in blockchain and Web3 initiatives among Fortune 100 companies, despite the lack of qualified specialists and the decline in the share of American crypto developers. However, despite these challenges, interest in blockchain technology remains high.
Crypto Help to Update the Financial System
Coinbase draws attention to a significant reduction in the number of crypto developers in the United States. Executives of Fortune 500 companies are concerned about the lack of reliable specialists, seeing this as a bigger obstacle to the introduction of cryptocurrencies than regulatory issues.
At the same time, small businesses are interested in finding cryptocurrency-savvy candidates for future positions in technical, financial, and legal departments. About 68% of respondents believe that blockchain and cryptocurrencies can solve financial problems such as processing time and transaction fees.
“The market infrastructure on which we have been issuing, trading, and wrapping assets into portfolios is 50 years old… What we are starting to see with blockchain technologies is that there are ways to improve that tremendously. There are ways to cut processing times, get more real-time information, and enable 24/7/365 trading because we live in a global world where our businesses operate around the clock.” said Sandy Kaull, Franklin Templeton’s head of digital assets.
Volodymyr Nosov, CEO of WhiteBIT, shares similar views, noting: “Despite the volatility, Bitcoin is gold for the new generation. Young investors won’t invest in gold, they believe in the digital age […] Blockchain is the future that needs to be understood.”
Coinbase notes that recent years have been a period of experimentation with onchain, but technology and financial companies have found the best formula between product and market. In the first quarter, these two sectors accounted for 8 out of 10 onchain initiatives, which shows an upward trend compared to 2023, when they accounted for almost 6 out of 10.
In addition, interest in using onchain technology for customer transactions extends not only to financial companies, but also to the retail, healthcare, and consumer goods industries. These include:
Exploring crypto as a form of payment for remote or global regionImplementing play-to-earn mechanics to enhance video game experienceLetting healthcare patients and customers use digital wallets to pay for products and serviceAccepting healthcare donations in cryptoBlockchain- and NFT-based restaurant loyalty programs
Rising Interest of Using Stablecoins
After that, Coinbase analyzes how stablecoins are gradually beginning to play an increasingly important role in the global economy. In the first quarter of 2024, the daily volume of stablecoin transactions broke records and reached $150 billion.
Stablecoins mitigate the volatility of popular cryptocurrencies such as Bitcoin, making them more suitable for daily transactions. They are widely used for cross-border payments and trading in other cryptocurrencies.
More than 50% of the surveyed companies noted that the introduction of stablecoins could open up new business opportunities. The relative stability of the stablecoins makes them attractive for companies seeking to avoid the fluctuations typical of other cryptocurrencies. Another reason for the attractiveness of stablecoins is low transaction fees and faster processing times.
Pegah Soltani, Head of Payment Products at Ripple, similarly spoke about cross-border payments in the world. She explained that payment standards vary greatly from country to country. For example, using SWIFT or TIPS in Europe and FedNow in the US requires different protocols, which limits the quality and detail of data.
As a result, these systems operate as closed networks that interact inefficiently with each other, requiring significant manual intervention and ultimately leading to an unsatisfactory payment experience.
According to Coinbase, the efficiency and cost-effectiveness of cryptocurrency transactions are compelling arguments in favor of their implementation. In addition, 76% of small businesses express interest in any potential benefits that cryptocurrency may offer, indicating a broad willingness to explore these technologies.
Compass Coffee, mentioned by Coinbase in its report, is already actively implementing payments in stablecoins. With many customers switching from cash to cards, the company said it was tired of paying high transaction fees, funds that could be reinvested in the business. That is why it started offering stablecoins as an alternative payment method.
“Accepting crypto payments could be transformational for our business. We hope to help transform retail experiences by accepting USDC” said Michael Haft, Compass Coffee Founder and CEO
Summary
Coinbase’s State of Crypto report emphasizes the importance of cryptocurrencies as the future of money. The first quarter of 2024 showed a significant increase in blockchain and Web3 initiatives among Fortune 100 companies, despite the lack of qualified specialists and the decline in the share of American crypto developers. However, despite these challenges, interest in blockchain technology remains high.
$DOGE , $SHIB reparing for a further price drop? - AMBCrypto Analytics
AMBCrypto took a look at DOGE’s daily chart to find out what to expect from the memecoin. As per our analysis, DOGE’s Relative Strength Index (RSI) registered an uptick after touching the oversold zone.
This hinted at a trend reversal, which might allow DOGE to recover from the recent losses. However, the MACD displayed a clear bearish advantage in the market.
If DOGE bulls step up and manage to initiate a trend reversal, then investors might soon witness DOGE reclaiming $0.14.
However, if the bearish price trend continues further, DOGE might plummet to $0.117 in the coming days.
AMBCrypto then checked Shiba Inu’s daily chart. As per our analysis, SHIB’s price had touched the lower limit of the Bollinger Bands, which often results in price upticks.
Additionally, both SHIB’s Money Flow Index (MFI) and Relative Strength Index (RSI) registered upticks. These indicators suggested that the possibility of a trend reversal for SHIB was high.
AMBCrypto took a look at DOGE’s daily chart to find out what to expect from the memecoin. As per our analysis, DOGE’s Relative Strength Index (RSI) registered an uptick after touching the oversold zone.
This hinted at a trend reversal, which might allow DOGE to recover from the recent losses. However, the MACD displayed a clear bearish advantage in the market.
If DOGE bulls step up and manage to initiate a trend reversal, then investors might soon witness DOGE reclaiming $0.14.
However, if the bearish price trend continues further, DOGE might plummet to $0.117 in the coming days.
AMBCrypto then checked Shiba Inu’s daily chart. As per our analysis, SHIB’s price had touched the lower limit of the Bollinger Bands, which often results in price upticks.
Additionally, both SHIB’s Money Flow Index (MFI) and Relative Strength Index (RSI) registered upticks. These indicators suggested that the possibility of a trend reversal for SHIB was high.
$NOT Price Prediction: Anticipating the Next Market Move - CoinGape Analytics
The telegram-based altcoin has seen a notable price surge over the past 30 days, mounting a surge of 184%, driven primarily by significant positive sentiment among investors. This uptick saw the NOT price hit an all-time high of $0.02896 on 2nd June, trading between $0.014 and $0.016 throughout the day.
Notcoin is currently on a recovery trajectory, which might signal the beginning of a bullish phase. If this trend continues, it is expected that Notcoin will break through the resistance at $0.018. This could pave the way for a rise toward the $0.02 mark, with the potential to reach as high as $0.1 if the momentum holds.
Conversely, If the market sentiment declines, Notcoin’s price consolidates around $0.015. Any further decreases might lead to a drop to approximately $0.013, highlighting the inherent volatility of the crypto market.
The daily technical indicators for Notcoin exhibit a notable trend, as evidenced by recent XRP/USD chart activity. The Relative Strength Index (RSI), currently at 36, leans towards the higher end of the oversold zone.
The Moving Average Convergence Divergence (MACD) indicator presents a narrowing histogram in red, signaling a reduction in bearish momentum, with values hovering just above the baseline. This setup indicates a potential equilibrium or mild positive shift in Notcoin’s market sentiment. The Average Directional Index (ADX) reading of 36 suggests weakness in the prevailing trend.
The telegram-based altcoin has seen a notable price surge over the past 30 days, mounting a surge of 184%, driven primarily by significant positive sentiment among investors. This uptick saw the NOT price hit an all-time high of $0.02896 on 2nd June, trading between $0.014 and $0.016 throughout the day.
Notcoin is currently on a recovery trajectory, which might signal the beginning of a bullish phase. If this trend continues, it is expected that Notcoin will break through the resistance at $0.018. This could pave the way for a rise toward the $0.02 mark, with the potential to reach as high as $0.1 if the momentum holds.
Conversely, If the market sentiment declines, Notcoin’s price consolidates around $0.015. Any further decreases might lead to a drop to approximately $0.013, highlighting the inherent volatility of the crypto market.
The daily technical indicators for Notcoin exhibit a notable trend, as evidenced by recent XRP/USD chart activity. The Relative Strength Index (RSI), currently at 36, leans towards the higher end of the oversold zone.
The Moving Average Convergence Divergence (MACD) indicator presents a narrowing histogram in red, signaling a reduction in bearish momentum, with values hovering just above the baseline. This setup indicates a potential equilibrium or mild positive shift in Notcoin’s market sentiment. The Average Directional Index (ADX) reading of 36 suggests weakness in the prevailing trend.
$PEPE Coin Price Prediction: Can Bulls Reclaim 50-EMA? - AMBCrypto Analytics
Key technical indicators on the higher timeframe charts, 12-hour, showed strengthening buying pressure.
Notably, the CMF (Chaikin Money Flow), which tracks money flows into the PEPE markets, climbed above the average level, demonstrating substantial liquidity pumped into the memecoin.
Similarly, the RSI (Relative Strength Index) rebounded from the lower range indicating increasing buying pressure for the meme.
However, in June, the indicator has been range-bound below the mid-range, indicating demand was still muted.
Further rally could be confirmed if PEPE flipped bullish by moving above trendline resistance (white) and the 50-EMA ($0.0000012).
So, despite a relief bounce at the golden ratio (50% Fib level), bulls could only have leverage if PEPE reclaimed the 50-EMA.
Otherwise, in the short-term, a drop to 200 EMA couldn’t be overruled as Bitcoin [BTC] struggled to move beyond $66K.
Key technical indicators on the higher timeframe charts, 12-hour, showed strengthening buying pressure.
Notably, the CMF (Chaikin Money Flow), which tracks money flows into the PEPE markets, climbed above the average level, demonstrating substantial liquidity pumped into the memecoin.
Similarly, the RSI (Relative Strength Index) rebounded from the lower range indicating increasing buying pressure for the meme.
However, in June, the indicator has been range-bound below the mid-range, indicating demand was still muted.
Further rally could be confirmed if PEPE flipped bullish by moving above trendline resistance (white) and the 50-EMA ($0.0000012).
So, despite a relief bounce at the golden ratio (50% Fib level), bulls could only have leverage if PEPE reclaimed the 50-EMA.
Otherwise, in the short-term, a drop to 200 EMA couldn’t be overruled as Bitcoin [BTC] struggled to move beyond $66K.
$XRP Price Dips Again - NewsBTC Analytics
XRP price attempted a fresh increase above the $0.4950 resistance zone. It even spiked above the $0.50 resistance, but there was no real bullish momentum. A high was formed at $0.5019 and the price started a fresh decline like Bitcoin.
There was a move below the $0.4980 and $0.4950 levels. There was a break below a short-term rising channel, with support at $0.4920 on the hourly chart of the XRP/USD pair. The pair even traded below the 50% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high.
The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. The bulls seem to be active near the $0.4850 support and the 61.8% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high.
If there is a fresh increase, the price might face hurdles near the $0.4950 level. The first major resistance is near the $0.50 and $0.5020 levels. A clear move above the $0.5020 resistance might send the price toward the $0.5150 resistance.
The next major resistance is near the $0.5250 level. A close above the $0.5250 resistance zone could send the price higher. The next key resistance is near $0.5320. Any more gains might send the price toward the $0.550 resistance.
If XRP fails to clear the $0.50 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4850 level.
The next major support is at $0.4765. If there is a downside break and a close below the $0.4765 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.4540 low in the near term.
XRP price attempted a fresh increase above the $0.4950 resistance zone. It even spiked above the $0.50 resistance, but there was no real bullish momentum. A high was formed at $0.5019 and the price started a fresh decline like Bitcoin.
There was a move below the $0.4980 and $0.4950 levels. There was a break below a short-term rising channel, with support at $0.4920 on the hourly chart of the XRP/USD pair. The pair even traded below the 50% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high.
The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. The bulls seem to be active near the $0.4850 support and the 61.8% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high.
If there is a fresh increase, the price might face hurdles near the $0.4950 level. The first major resistance is near the $0.50 and $0.5020 levels. A clear move above the $0.5020 resistance might send the price toward the $0.5150 resistance.
The next major resistance is near the $0.5250 level. A close above the $0.5250 resistance zone could send the price higher. The next key resistance is near $0.5320. Any more gains might send the price toward the $0.550 resistance.
If XRP fails to clear the $0.50 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4850 level.
The next major support is at $0.4765. If there is a downside break and a close below the $0.4765 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.4540 low in the near term.
$ZK Price Analysis: Up or Down? - CoinGape Analytics
ZK price chart is a huge descending triangle from day one of trading. And while there is not much technical data to go with owing to the age of the token, fundamentally, there is a lot to say. ZK price action is trending below the 50-day simple moving average (SMA), which is not bullish.
The price action also seems to be logged at the lower trend line of the descending triangle. This is a dangerous zone, as negative news can easily cause the price to slide lower.
Generally, descending triangles are bearish continuation patterns, but they occasionally break to the upside, especially if the market sentiment is bullish.
A break to the upside may result in a 43% increase from the current price to set the token at $0.28, above its all-time high price. Conversely, a break below this crucial support structure may culminate in a 37% drop to settle around $0.1185.
Data from Coinalyze shows that the ZK open interest (OI) is up 11% in the past week. The OI chart shows a bullish pennant forming, which is an indicator of more upside in the coming days.
The daily aggregated ratio of longs vs. shorts is 1.64, with longs being the majority. This indicates investors are optimistic about the future price of ZK and are willing to bet on it. Furthermore, there have been more short liquidations than long liquidations in the past 24 hours, showing the overall sentiment for the token is bullish.
ZK price chart is a huge descending triangle from day one of trading. And while there is not much technical data to go with owing to the age of the token, fundamentally, there is a lot to say. ZK price action is trending below the 50-day simple moving average (SMA), which is not bullish.
The price action also seems to be logged at the lower trend line of the descending triangle. This is a dangerous zone, as negative news can easily cause the price to slide lower.
Generally, descending triangles are bearish continuation patterns, but they occasionally break to the upside, especially if the market sentiment is bullish.
A break to the upside may result in a 43% increase from the current price to set the token at $0.28, above its all-time high price. Conversely, a break below this crucial support structure may culminate in a 37% drop to settle around $0.1185.
Data from Coinalyze shows that the ZK open interest (OI) is up 11% in the past week. The OI chart shows a bullish pennant forming, which is an indicator of more upside in the coming days.
The daily aggregated ratio of longs vs. shorts is 1.64, with longs being the majority. This indicates investors are optimistic about the future price of ZK and are willing to bet on it. Furthermore, there have been more short liquidations than long liquidations in the past 24 hours, showing the overall sentiment for the token is bullish.
$FET Price Prediction: Sideways Going Ahead - BeinCrypto Analytics
Following the recent decline that brought FET down from $2.2 to $1.2, the conviction took a hit. Mean Coin Age marked a sharp drop, which is now turning into an uptick. The former is an indication of token movement among addresses, while the latter suggests HODLing.
However, even if the investors are HODLing, they are not too impressed by the current market conditions. Their sentiment towards FET remains bearish still, with the intensity even reaching yearly lows.
This bearishness, coupled with the bullishness arising from FET HODLing, paints a bearish-neutral outlook.
Given the aforementioned cues, Fetch.ai’s price at $1.2 will likely consolidate going forward. The potential limits of this sideways momentum will be $1.7 and $1.0.
These levels have been tested as supportive in the past and resistant more recently. Thus, until the ASI formation takes place in July, the altcoin will remain stuck in these limits.
But if the volatility of the crypto market graces FET, an uptick in price can be expected. If this leads to a breakout from the upper limit of the consolidation, the bearish-neutral thesis would be invalidated.
Following the recent decline that brought FET down from $2.2 to $1.2, the conviction took a hit. Mean Coin Age marked a sharp drop, which is now turning into an uptick. The former is an indication of token movement among addresses, while the latter suggests HODLing.
However, even if the investors are HODLing, they are not too impressed by the current market conditions. Their sentiment towards FET remains bearish still, with the intensity even reaching yearly lows.
This bearishness, coupled with the bullishness arising from FET HODLing, paints a bearish-neutral outlook.
Given the aforementioned cues, Fetch.ai’s price at $1.2 will likely consolidate going forward. The potential limits of this sideways momentum will be $1.7 and $1.0.
These levels have been tested as supportive in the past and resistant more recently. Thus, until the ASI formation takes place in July, the altcoin will remain stuck in these limits.
But if the volatility of the crypto market graces FET, an uptick in price can be expected. If this leads to a breakout from the upper limit of the consolidation, the bearish-neutral thesis would be invalidated.
$DOGE 8% jump: Does it signal an end to the bear trend? - AMBCrypto Analytics
Dogecoin [DOGE] has been on a wild ride over the past four weeks. As the broader cryptocurrency market witnessed volatility, DOGE was also engulfed in the price swings, leaving investors concerned about its future.
DOGE’s price has dropped by 32% in the last two weeks. The descending trendline indicates a bearish market.
However, the recent price movements suggest a potential bullish reversal as the price has surged by 8% in the last 24 hours.
Dogecoin was trading at an average price of $0.1247 at press time. Its 24 hour trading volume stood at around $851.62 million, with a market cap of $18.03 billion.
The stochastic RSI indicates an oversold zone, which could precede a bullish reversal. However, the moving average convergence divergence indicator shows fading bearish momentum, as the recent bearish bars are fading with time.
Dogecoin [DOGE] has been on a wild ride over the past four weeks. As the broader cryptocurrency market witnessed volatility, DOGE was also engulfed in the price swings, leaving investors concerned about its future.
DOGE’s price has dropped by 32% in the last two weeks. The descending trendline indicates a bearish market.
However, the recent price movements suggest a potential bullish reversal as the price has surged by 8% in the last 24 hours.
Dogecoin was trading at an average price of $0.1247 at press time. Its 24 hour trading volume stood at around $851.62 million, with a market cap of $18.03 billion.
The stochastic RSI indicates an oversold zone, which could precede a bullish reversal. However, the moving average convergence divergence indicator shows fading bearish momentum, as the recent bearish bars are fading with time.
$ZK Price Prediction: Will ZK Price Hit the $2 Level Soon? - CoinEdition Analytics
The Stochastic RSI indicator on the 30-minute chart for zkSync (ZK) shows a recent uptick in momentum. As of the latest data point, the Stochastic RSI values are K=87.69 and D=93.36. These high values indicate that zkSync is currently in an overbought condition, suggesting potential for a price pullback or stabilization.
The sharp rise in the Stochastic RSI to near the 100 level reflects strong buying pressure, possibly due to positive market sentiment or speculative trading around zkSync. This could mean short-term gains for holders but also raises the likelihood of volatility.
Additionally, the MACD (Moving Average Convergence Divergence) indicator on the 30-minute chart for zkSync (ZK) shows a bullish signal, with the MACD line (blue) at 0.00186045 above the signal line (orange) at 0.0013771. This indicates increasing upward momentum in the price movement of ZK.
Recent histogram bars are positive and increasing in size, suggesting that the bullish trend is strengthening. The MACD values are moving further away from the zero line, which typically represents stronger bullish sentiment in the market.
Consequently, the Money Flow Index (MFI) on the 30-minute chart for zkSync (ZK) shows a value of 71.19. This indicates that the market is nearing overbought conditions, suggesting that buying pressure has been dominant but may soon face resistance as the market could be perceived as overvalued at these levels.
Moreover, the MFI being above 70 typically hints at potential for a price correction if buyers begin to pull back. This indicator, coupled with a stable price movement, suggests that while the buying momentum is strong, traders should be cautious of potential volatility or reversals.
The Stochastic RSI indicator on the 30-minute chart for zkSync (ZK) shows a recent uptick in momentum. As of the latest data point, the Stochastic RSI values are K=87.69 and D=93.36. These high values indicate that zkSync is currently in an overbought condition, suggesting potential for a price pullback or stabilization.
The sharp rise in the Stochastic RSI to near the 100 level reflects strong buying pressure, possibly due to positive market sentiment or speculative trading around zkSync. This could mean short-term gains for holders but also raises the likelihood of volatility.
Additionally, the MACD (Moving Average Convergence Divergence) indicator on the 30-minute chart for zkSync (ZK) shows a bullish signal, with the MACD line (blue) at 0.00186045 above the signal line (orange) at 0.0013771. This indicates increasing upward momentum in the price movement of ZK.
Recent histogram bars are positive and increasing in size, suggesting that the bullish trend is strengthening. The MACD values are moving further away from the zero line, which typically represents stronger bullish sentiment in the market.
Consequently, the Money Flow Index (MFI) on the 30-minute chart for zkSync (ZK) shows a value of 71.19. This indicates that the market is nearing overbought conditions, suggesting that buying pressure has been dominant but may soon face resistance as the market could be perceived as overvalued at these levels.
Moreover, the MFI being above 70 typically hints at potential for a price correction if buyers begin to pull back. This indicator, coupled with a stable price movement, suggests that while the buying momentum is strong, traders should be cautious of potential volatility or reversals.
Is This The Best Time To Buy $SOL ? - NewsBTC Analytics
Even amid this deep retracement, Raol Pal, a macro analyst, thinks this is the best time for investors and traders to consider Solana. In a post on X, Pal said traders may look at loading the coin, citing the candlestick arrangement in the daily chart.
Looking at the SOLUSDT chart, it is clear that the coin is moving sideways and inside a broader flag after the spike to over $200 in March. However, what’s emerging amid the cool-off is that the zone between $120 and $125 is a support to watch out for.
At press time, SOL is changing hands at around $130, down approximately 40% from the March 2024 highs. If bears of late May 2024 press on, it will be interesting to see how prices will react at this level.
From Pal’s position, the analyst expects prices to bounce back from this level and resume the uptrend from last year. The problem is that there won’t be any guarantee that prices will shoot higher from this support zone.
Technically, a close above $190 and preferably $190, could mark the resumption of the next leg up, quashing bears.
Even amid this deep retracement, Raol Pal, a macro analyst, thinks this is the best time for investors and traders to consider Solana. In a post on X, Pal said traders may look at loading the coin, citing the candlestick arrangement in the daily chart.
Looking at the SOLUSDT chart, it is clear that the coin is moving sideways and inside a broader flag after the spike to over $200 in March. However, what’s emerging amid the cool-off is that the zone between $120 and $125 is a support to watch out for.
At press time, SOL is changing hands at around $130, down approximately 40% from the March 2024 highs. If bears of late May 2024 press on, it will be interesting to see how prices will react at this level.
From Pal’s position, the analyst expects prices to bounce back from this level and resume the uptrend from last year. The problem is that there won’t be any guarantee that prices will shoot higher from this support zone.
Technically, a close above $190 and preferably $190, could mark the resumption of the next leg up, quashing bears.
$NOT Price Struggles, Fails to Break Downtrend - BeinCrypto Analytics
Notcoin’s price is currently in a downtrend, and despite an attempt to break out of it, not much has changed. The consequent shift in sentiment among NOT holders is now becoming much clearer.
Nevertheless, the altcoin will be safe from falling below the support at $0.015 since the Telegram Coin’s short-term outlook is bullish.
The Moving Average Convergence Divergence (MACD) indicates that Notcoin is experiencing a bullish crossover in a short-term timeframe. This technical signal typically suggests a potential upward momentum as the MACD line crosses above the signal line, hinting at a possible increase in buying pressure and a positive shift in market sentiment for Notcoin.
However, despite this bullish indicator, investors remain pessimistic about a recovery. They are leaning towards a decline, as evidenced by the negative funding rate for the first time this month.
For now, Notcoin’s price is safe from losing the critical support of $0.015. It will likely move sideways under $0.018 until it gains enough momentum to chart a rally again.
The downtrend line that NOT has been under for weeks now before the fake-out will come into effect again. If the Telegram Coin breaches this line, the altcoin can expect a more bullish outcome.
However, if the investors’ decision to stay bearish remains unchanged, there is a good chance that Notcoin could fall below the support of $0.015. Losing it would not only invalidate the bullish thesis but also mark lower lows for NOT around $0.014 and $0.013.
Notcoin’s price is currently in a downtrend, and despite an attempt to break out of it, not much has changed. The consequent shift in sentiment among NOT holders is now becoming much clearer.
Nevertheless, the altcoin will be safe from falling below the support at $0.015 since the Telegram Coin’s short-term outlook is bullish.
The Moving Average Convergence Divergence (MACD) indicates that Notcoin is experiencing a bullish crossover in a short-term timeframe. This technical signal typically suggests a potential upward momentum as the MACD line crosses above the signal line, hinting at a possible increase in buying pressure and a positive shift in market sentiment for Notcoin.
However, despite this bullish indicator, investors remain pessimistic about a recovery. They are leaning towards a decline, as evidenced by the negative funding rate for the first time this month.
For now, Notcoin’s price is safe from losing the critical support of $0.015. It will likely move sideways under $0.018 until it gains enough momentum to chart a rally again.
The downtrend line that NOT has been under for weeks now before the fake-out will come into effect again. If the Telegram Coin breaches this line, the altcoin can expect a more bullish outcome.
However, if the investors’ decision to stay bearish remains unchanged, there is a good chance that Notcoin could fall below the support of $0.015. Losing it would not only invalidate the bullish thesis but also mark lower lows for NOT around $0.014 and $0.013.
Weekend Recap:Solana’s Loyalty Platform,Buterin Backs TiTok AI,XLink Partners Fireblocks and Ancilia
Elon Musk’s social network X is not doing “enough” to prevent the spread of cryptocurrency fraud on the platform. Such an opinion was shared by Binance co-founder Yi He, who recently asked how the billionaire owner is going to deal with this problem. However, this was not the hottest news of the week.
Buterin Supports TiTok AI
Ethereum co-founder Vitalik Buterin has endorsed TiTok AI for its potential application in the blockchain. We are not talking about the social network TiTok but about Token for Image Tokenizer, a new method of image compression that makes them more practical for storing on the blockchain.
On his Warpcast account, Buterin called the image compression method a new way of “encoding a profile photo.” He also noted: “320 bits is a hash. Small enough to go on chain for every user.”
The co-founder became interested in the method after reading a post in X published by Ethan, a researcher at Leonardo AI, an artificial intelligence-based image creation platform. The author described how the technology could help those interested in reinterpreting the high-frequency details of images to successfully encode complex visual objects into 32 tokens. For his part, Buterin expressed an opinion on how much easier it would make it for developers and creators to create profile images and non-fungible tokens (NFTs).
TiTok AI, developed in collaboration between ByteDance and the University of Munich, is characterized as an innovative one-dimensional tokenization framework that is significantly different from the dominant two-dimensional methods in use. The White Paper of the project describes the challenges faced by previous image tokenization methods such as VQGAN.
TiTok, using artificial intelligence, plans to overcome this problem with technologies that efficiently convert images into one-dimensional hidden sequences to provide a “compact hidden representation” and eliminate redundant regions.
AI is Now on TikTok
The social network TikTok may soon be filled with ads with “digital avatars” created by artificial intelligence. On June 17, the platform announced the expansion of its Symphony advertising package with “stock avatars” and “artificial dubbing” functions.
According to TikTok, all avatars are created from videos of real paid actors licensed for commercial use. In addition, users will be able to use “voice and accent” to read the script voiced on the avatar using artificial intelligence.
The attached video demonstrates how the tool converts text into voiceover and can dub actors with voices in several languages, trying to imitate mouth movements in each language. The script itself can also be generated using artificial intelligence. The feature supports ten languages and dialects, including English, Spanish, Japanese, and Korean. The tool detects the language used and duplicates it in the user’s target language.
Today, artificial intelligence technology is becoming increasingly widespread. Influential companies are integrating AI into their operations to increase efficiency, optimize processes, and develop innovative products and services. One example is Microsoft, which has a multimillion-dollar partnership with OpenAI, the company behind the development of the famous ChatGPT chatbot. Their partnership aims to develop and promote cutting-edge research in this area and democratize AI as a new tool for companies and organizations in various industries.
One of the largest crypto exchanges in Europe, WhiteBIT, also uses artificial intelligence in its operations. In particular, to analyze big data, market trends, user behavior, transaction processing, etc. The financial company JPMorgan Chase also announced the use of artificial intelligence in its work. In particular, they use a neural network to obtain information about potential investments and speed up decision-making. Moreover, the head of the bank’s asset and wealth management department, Mary Erdos, recently spoke about the implementation of engineering training for new employees to work with artificial intelligence.
XLink Onboards Fireblocks, Ancilia to Prevent Hacks
Following a recent security breach that stole $10 million in user funds, XLink, a Bitcoin bridge by Alex Lab, has partnered with Fireblocks and Ancilia. According to the company, the collaboration with Fireblocks will allow it to implement multi-party computing (MPC) technology to manage XLink’s wallet and smart contracts.
Chiente Hsu, CEO and co-founder of Alex told Cointelegraph: “[The] partnership with Fireblocks will implement two of three multiparty computation wallets to hold all these user assets, with one key held by the validator network of Bitcoin Oracle (that validates the XLink bridging events), another key held by Fireblocks and the last key held by Coincover who provides the disaster recovery service.”
At the same time, the partnership with Ancilia will help ensure continuous monitoring and real-time threat detection, offering instant alerts and proactive measures to prevent hacks.
Hsu explained that the “source of the hack” was the leak of a private key with “administrator access” to a smart contract that stores users’ assets. He also added that the cooperation will maximize the security of users’ assets, which they have been planning for some time, but the recent incident has accelerated this process.
Funding for Crypto Startups Exceeded $100 Billion
The total amount of funding for crypto startups has crossed the $100 billion mark. According to DefiLlama, since the end of May 2014, crypto projects have raised $101.36 billion in 5287 investment rounds.
A noticeable peak occurred in October 2021, when funding amounted to more than $7 billion. No other month has come close to this figure, although February 2022 – $3.67 billion – was the second highest in history.
The 2023 study shows that almost half of all funding comes from US investors, followed by the UK and Singapore. At the end of 2023 and in the first half of 2024, several high-profile funding rounds took place, further strengthening investor confidence. Specifically, Together.AI, Wormhole, Totter, and Eigenlayer received significant investments of more than $100 million each.
Solana Labs Debuts Blockchain Loyalty Platform
Solana Labs has announced the launch of Bond, a platform designed to increase customer engagement through direct customer interactions, digital collectibles, and more. In its publication, the company notes that Bond will provide brands, including non-cryptocurrency brands, with a platform “to create personalized, transparent, and engaging digital experiences that deepen customer connections and foster long-term loyalty.”
In addition, the technology will be able to eliminate the “critical limitations” of modern loyalty programs, namely the loss of connection with the end user if the product is ever resold or given away. The company promises that brands will not be required to have experience with blockchain, as the service will be available through a single application programming interface.
The platform uses the Solana blockchain to create collectible “digital twins” and limited edition products complemented by their real-life models to “encourage repeat purchases and increase overall customer value.”
By using digital product identification, customers can verify the authenticity of a product, and brands can track their items even if they are subsequently resold or given away.
$SOL
Buterin Supports TiTok AI
Ethereum co-founder Vitalik Buterin has endorsed TiTok AI for its potential application in the blockchain. We are not talking about the social network TiTok but about Token for Image Tokenizer, a new method of image compression that makes them more practical for storing on the blockchain.
On his Warpcast account, Buterin called the image compression method a new way of “encoding a profile photo.” He also noted: “320 bits is a hash. Small enough to go on chain for every user.”
The co-founder became interested in the method after reading a post in X published by Ethan, a researcher at Leonardo AI, an artificial intelligence-based image creation platform. The author described how the technology could help those interested in reinterpreting the high-frequency details of images to successfully encode complex visual objects into 32 tokens. For his part, Buterin expressed an opinion on how much easier it would make it for developers and creators to create profile images and non-fungible tokens (NFTs).
TiTok AI, developed in collaboration between ByteDance and the University of Munich, is characterized as an innovative one-dimensional tokenization framework that is significantly different from the dominant two-dimensional methods in use. The White Paper of the project describes the challenges faced by previous image tokenization methods such as VQGAN.
TiTok, using artificial intelligence, plans to overcome this problem with technologies that efficiently convert images into one-dimensional hidden sequences to provide a “compact hidden representation” and eliminate redundant regions.
AI is Now on TikTok
The social network TikTok may soon be filled with ads with “digital avatars” created by artificial intelligence. On June 17, the platform announced the expansion of its Symphony advertising package with “stock avatars” and “artificial dubbing” functions.
According to TikTok, all avatars are created from videos of real paid actors licensed for commercial use. In addition, users will be able to use “voice and accent” to read the script voiced on the avatar using artificial intelligence.
The attached video demonstrates how the tool converts text into voiceover and can dub actors with voices in several languages, trying to imitate mouth movements in each language. The script itself can also be generated using artificial intelligence. The feature supports ten languages and dialects, including English, Spanish, Japanese, and Korean. The tool detects the language used and duplicates it in the user’s target language.
Today, artificial intelligence technology is becoming increasingly widespread. Influential companies are integrating AI into their operations to increase efficiency, optimize processes, and develop innovative products and services. One example is Microsoft, which has a multimillion-dollar partnership with OpenAI, the company behind the development of the famous ChatGPT chatbot. Their partnership aims to develop and promote cutting-edge research in this area and democratize AI as a new tool for companies and organizations in various industries.
One of the largest crypto exchanges in Europe, WhiteBIT, also uses artificial intelligence in its operations. In particular, to analyze big data, market trends, user behavior, transaction processing, etc. The financial company JPMorgan Chase also announced the use of artificial intelligence in its work. In particular, they use a neural network to obtain information about potential investments and speed up decision-making. Moreover, the head of the bank’s asset and wealth management department, Mary Erdos, recently spoke about the implementation of engineering training for new employees to work with artificial intelligence.
XLink Onboards Fireblocks, Ancilia to Prevent Hacks
Following a recent security breach that stole $10 million in user funds, XLink, a Bitcoin bridge by Alex Lab, has partnered with Fireblocks and Ancilia. According to the company, the collaboration with Fireblocks will allow it to implement multi-party computing (MPC) technology to manage XLink’s wallet and smart contracts.
Chiente Hsu, CEO and co-founder of Alex told Cointelegraph: “[The] partnership with Fireblocks will implement two of three multiparty computation wallets to hold all these user assets, with one key held by the validator network of Bitcoin Oracle (that validates the XLink bridging events), another key held by Fireblocks and the last key held by Coincover who provides the disaster recovery service.”
At the same time, the partnership with Ancilia will help ensure continuous monitoring and real-time threat detection, offering instant alerts and proactive measures to prevent hacks.
Hsu explained that the “source of the hack” was the leak of a private key with “administrator access” to a smart contract that stores users’ assets. He also added that the cooperation will maximize the security of users’ assets, which they have been planning for some time, but the recent incident has accelerated this process.
Funding for Crypto Startups Exceeded $100 Billion
The total amount of funding for crypto startups has crossed the $100 billion mark. According to DefiLlama, since the end of May 2014, crypto projects have raised $101.36 billion in 5287 investment rounds.
A noticeable peak occurred in October 2021, when funding amounted to more than $7 billion. No other month has come close to this figure, although February 2022 – $3.67 billion – was the second highest in history.
The 2023 study shows that almost half of all funding comes from US investors, followed by the UK and Singapore. At the end of 2023 and in the first half of 2024, several high-profile funding rounds took place, further strengthening investor confidence. Specifically, Together.AI, Wormhole, Totter, and Eigenlayer received significant investments of more than $100 million each.
Solana Labs Debuts Blockchain Loyalty Platform
Solana Labs has announced the launch of Bond, a platform designed to increase customer engagement through direct customer interactions, digital collectibles, and more. In its publication, the company notes that Bond will provide brands, including non-cryptocurrency brands, with a platform “to create personalized, transparent, and engaging digital experiences that deepen customer connections and foster long-term loyalty.”
In addition, the technology will be able to eliminate the “critical limitations” of modern loyalty programs, namely the loss of connection with the end user if the product is ever resold or given away. The company promises that brands will not be required to have experience with blockchain, as the service will be available through a single application programming interface.
The platform uses the Solana blockchain to create collectible “digital twins” and limited edition products complemented by their real-life models to “encourage repeat purchases and increase overall customer value.”
By using digital product identification, customers can verify the authenticity of a product, and brands can track their items even if they are subsequently resold or given away.
$SOL
$ADA Price Remains In Negative Zone - NewsBTC Analytics
In the past few days, Cardano started a downward move like Bitcoin and Ethereum after it failed to clear the $0.450 resistance. ADA dipped below the $0.400 support and tested the $0.360 zone.
A low was formed at $0.360 and the price is now correcting losses. There was a minor recovery wave above the $0.3750 zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.4204 swing high to the $0.3600 low.
There is also a connecting bullish trend line forming with support at $0.3760 on the hourly chart of the ADA/USD pair. However, the price faces many hurdles on the upside.
ADA is still trading below $0.400 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $0.3980 zone or the 61.8% Fib retracement level of the downward move from the $0.4204 swing high to the $0.3600 low.
The first resistance is near $0.400. The next key resistance might be $0.410. If there is a close above the $0.410 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4250 region. Any more gains might call for a move toward $0.450.
If Cardano’s price fails to climb above the $0.400 resistance level, it could start another decline. Immediate support on the downside is near the $0.3850 level.
The next major support is near the $0.380 level and the trend line. A downside break below the $0.380 level could open the doors for a test of $0.3650. The next major support is near the $0.360 level.
In the past few days, Cardano started a downward move like Bitcoin and Ethereum after it failed to clear the $0.450 resistance. ADA dipped below the $0.400 support and tested the $0.360 zone.
A low was formed at $0.360 and the price is now correcting losses. There was a minor recovery wave above the $0.3750 zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.4204 swing high to the $0.3600 low.
There is also a connecting bullish trend line forming with support at $0.3760 on the hourly chart of the ADA/USD pair. However, the price faces many hurdles on the upside.
ADA is still trading below $0.400 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $0.3980 zone or the 61.8% Fib retracement level of the downward move from the $0.4204 swing high to the $0.3600 low.
The first resistance is near $0.400. The next key resistance might be $0.410. If there is a close above the $0.410 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4250 region. Any more gains might call for a move toward $0.450.
If Cardano’s price fails to climb above the $0.400 resistance level, it could start another decline. Immediate support on the downside is near the $0.3850 level.
The next major support is near the $0.380 level and the trend line. A downside break below the $0.380 level could open the doors for a test of $0.3650. The next major support is near the $0.360 level.
$FLOKI Price Prediction: Bearish Trends and Key Levels - BeinCrypto Analytics
On the daily chart, Floki Inu experienced significant volatility after reaching an all-time high of $0.00035. The subsequent 54% decline from June 5 to the present has been influenced by several key technical factors.
In our previous analysis, we highlighted that Floki’s price might drop following breakouts of key support levels.
The dark red baseline of the Ichimoku Cloud served as a crucial support level during the rally to $0.00035. Well, FLOKI fell below this baseline on June 7, signaling a shift in market sentiment and acting as a catalyst for further declines.
The price is currently testing the 200 EMA (green), a significant support level on the daily chart. Historically, the 200 EMA is considered a critical long-term indicator. A breach below this level could lead to increased volatility and a further downside move towards $0.00015.
The immediate support levels to watch are $0.000165 and $0.000157. Should these levels fail to hold, the next critical support is at $0.00010. On the resistance side, FLOKI must reclaim the $0.000188 level to initiate any significant bullish reversal.
On the daily chart, Floki Inu experienced significant volatility after reaching an all-time high of $0.00035. The subsequent 54% decline from June 5 to the present has been influenced by several key technical factors.
In our previous analysis, we highlighted that Floki’s price might drop following breakouts of key support levels.
The dark red baseline of the Ichimoku Cloud served as a crucial support level during the rally to $0.00035. Well, FLOKI fell below this baseline on June 7, signaling a shift in market sentiment and acting as a catalyst for further declines.
The price is currently testing the 200 EMA (green), a significant support level on the daily chart. Historically, the 200 EMA is considered a critical long-term indicator. A breach below this level could lead to increased volatility and a further downside move towards $0.00015.
The immediate support levels to watch are $0.000165 and $0.000157. Should these levels fail to hold, the next critical support is at $0.00010. On the resistance side, FLOKI must reclaim the $0.000188 level to initiate any significant bullish reversal.
$XRP Price Prediction: Can the Altcoin Stay Above $0.5? - AMBCrypto Analytics
The Monday upswing saw XRP defend the 78.6% Fib level ($0.48), a crucial range low. XRP has been stuck between the 61.8% and 78.6% Fib levels.
So, a decisive reclaim could set the altcoin for the range-high ($0.54). That’s a potential 10% for bulls.
However, key technical chart indicators haven’t demonstrated market leverage to bulls as of press time.
The RSI (Relative Strength Index) faced rejection at the mid-range, indicating buying pressure surged but wasn’t strong enough to push XRP higher.
Similarly, the CMF (Chaikin Money Flow) showed an uptick but hadn’t crossed above the zero level. It meant inflows improved but weren’t substantial enough.
That said, XRP bulls need to defend the 78.6% Fib level if the 10% potential is to be realized. Otherwise, short-sellers could drag it lower to $0.45 or $0.41
The Monday upswing saw XRP defend the 78.6% Fib level ($0.48), a crucial range low. XRP has been stuck between the 61.8% and 78.6% Fib levels.
So, a decisive reclaim could set the altcoin for the range-high ($0.54). That’s a potential 10% for bulls.
However, key technical chart indicators haven’t demonstrated market leverage to bulls as of press time.
The RSI (Relative Strength Index) faced rejection at the mid-range, indicating buying pressure surged but wasn’t strong enough to push XRP higher.
Similarly, the CMF (Chaikin Money Flow) showed an uptick but hadn’t crossed above the zero level. It meant inflows improved but weren’t substantial enough.
That said, XRP bulls need to defend the 78.6% Fib level if the 10% potential is to be realized. Otherwise, short-sellers could drag it lower to $0.45 or $0.41
