💥💥💥 Crypto market faces $860M token unlocks in July

Around 40 cryptocurrency projects are preparing for significant token unlocks in July, totaling approximately $860 million in market value. Among the largest releases:

1. Xai (XAI): Plans to unlock 198 million tokens on July 9, valued at $97 million, representing 71.5% of its circulating supply.

2. #Aptos (APT): Unlocks 11.3 million tokens on July 12, valued at nearly $79 million, allocated for foundation, community, and investors.

3. Arbitrum (ARB): Scheduled to release 92.6 million tokens on July 16, valued at $76 million, distributed among team, investors, and advisors.

4. #AltLayer (ALT): Token unlock on July 25 involves 684 million tokens, nearly 45% of circulating supply, valued at around $133 million, for protocol development and incentives.

Other notable unlocks include:

- #io.net (IO): Unlocking 7.5 million tokens on July 1, valued at $26 million.

- Sui (#SUI🔥 ): Releasing 64 million tokens on July 1, valued at $56 million.

- Starknet (STRK): Unlocking 64 million tokens on July 15, valued at $47 million.

Investors anticipate potential price fluctuations due to increased token supply entering the market. Historical data suggests tokens typically rise by an average of 34% post-unlock, but impacts can vary widely. Stay informed to navigate cryptocurrency investments effectively.

Source - cryptobriefing.com

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💥💥💥 #SolanaTrading Plunges 93% In 24 Hours: Where Did The $100 Billion Go?

Solana Faces Turmoil Over Inflated Stablecoin Volume Claims
Revelations and Impact

Solana has faced significant upheaval following reports that its daily #stablecoin volume has been overstated. Estimates plummeted from $75-100 billion to just $7 billion in one day, unsettling the crypto community and casting doubts on Solana's credibility as a DeFi leader.

Inflated Figures or Manipulative Practices?

- The drastic volume drop is attributed to wash trading, where investors buy and sell assets to artificially inflate trading volumes. This practice misleads investors about the platform's adoption and liquidity. The discrepancy suggests Solana's stablecoin market might heavily rely on such tactics, raising concerns about its organic growth.

Concerns Over #USDC✅

- USDC, a leading stablecoin pegged to the US dollar, is under particular scrutiny. Even with the revised $7 billion volume figure, up to 90% might still be inflated, further damaging Solana's reputation and potentially undermining investor confidence.

Investor Reaction and Market Volatility

- The sudden revelation has rattled investors, possibly triggering a sell-off and short-term market volatility. This comes at a sensitive time, just before the anticipated #EthereumETF deadline, which might have boosted Solana's DeFi activity.

Restoring Credibility

- To regain investor trust, Solana's development team must act swiftly and transparently. Despite the current turmoil, Solana's technological foundation remains strong, with one of the fastest and most scalable blockchains.

Looking Ahead

- The coming weeks are crucial for Solana. Addressing the data controversy and ensuring transparency will be key to weathering this storm and reclaiming its position as a leading DeFi contender.

Source - newsbtc.com

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💥💥💥 Cardano ($ADA ) Price Struggles as Large Transaction Volume Plummets

Cardano Whales🐳🐳🐳 Reduce Exposure Amid Price Dip

Cardano Whales Cutting Back

- On-chain data indicates a significant reduction in large transaction volumes for Cardano (ADA) over the past month. The daily count of ADA transactions valued between $1 million and $10 million has decreased by 33%, and those worth $10 million or more have dropped by 24%.

- This decline in large transactions suggests reduced trading activity by major holders, often signaling a shift from positive to negative market sentiment.

Negative Market Sentiment

- Cardano's weighted sentiment metric currently stands at -0.58, reflecting general negative sentiment on social media. A negative weighted sentiment typically precedes further declines in an asset's value, as investor hesitation reduces demand.

Technical Indicators

Key technical indicators on ADA's daily chart highlight declining demand:

- Relative Strength Index (RSI): The #RSI has fallen below the 50-neutral line, currently at 34.12, indicating increased selling pressure.

- Directional Movement Index (DMI): The DMI shows the positive index (blue) below the negative index (red), signaling bearish control since June 12.

Price Prediction

- If ADA sell-offs continue, its value may dip to $0.35. Conversely, a shift to positive sentiment could increase buying pressure, pushing the value up to $0.41.

Conclusion

Cardano faces reduced interest from major holders and negative market sentiment, leading to potential price declines unless positive sentiment and demand return.

Source - beincrypto.com

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👉👉👉 #chatgpt Predicts $XRP Price if SEC Lawsuit Never Happened

XRP investors missed out on the 2021 bull run as the asset only reached $1.96. Many attribute XRP's failure to reclaim its previous all-time high during the last bull season to the ongoing lawsuit against Ripple.

On December 20, 2020, the U.S. SEC filed a lawsuit against Ripple and its executives, Christian Larsen and Brad Garlinghouse, alleging a $1.3 billion unregistered securities offering through XRP. This legal action prompted U.S.-based exchanges to delist XRP temporarily, resulting in price declines.

Meanwhile, the broader #cryptocurrencymarket was entering a new bull cycle driven by #Bitcoin's third halving. However, the lawsuit constrained public access to XRP, curtailing its bullish momentum. Specifically, XRP peaked at $1.965 on April 14, 2021, while Bitcoin continued its upward trajectory for another six months until November 2021.

XRP's current price is $0.47, lower due to the SEC lawsuit. Enthusiasts recall its 75,000% surge in 2017/2018, briefly ranking it second to Bitcoin, ahead of Ethereum.

Exploring XRP's Potential Without the Lawsuit

- Considering XRP's potential price without the SEC lawsuit is speculative, but leveraging insights from ChatGPT, key factors like market sentiment, Ripple's partnerships, and historical performance were considered.

Moderate and High Growth Scenarios

- In a moderate growth scenario, assuming favorable developments and adoption without legal constraints, ChatGPT predicts XRP could increase by 50-100% from its pre-lawsuit price of approximately $0.60 in December 2020. This suggests XRP could range between $0.90 to $1.20.

- In a high-growth scenario, ChatGPT projects a 150-200% increase, potentially pushing XRP's price to $1.50 to $1.80.

Aggressive Growth Scenario

- In a bullish scenario, ChatGPT speculates XRP could rise 300-500% to reach $2.40-$3.60, nearing its 2018 high of $3.84. This potential increase from its current $0.47 price level would be substantial.

Source - thecryptobasic.com

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👉👉👉 Get Ready for a DeFi Summer: #Synthetix ’s 2 Million $ARB Giveaway Heats Up on Arbitrum

Synthetix, a leader in decentralized finance (DeFi), is expanding its presence on the Arbitrum network, a pivotal step in its evolution. This move is part of the Arbitrum Liquidity Incentive Program (LTIP), spanning 12 weeks until September 3rd, supported by 2 million ARB tokens. The initiative aims to boost liquidity, promote stablecoin adoption, and optimize the Perpetual Contracts (Perps) trading environment on Arbitrum.

Synthetix is renowned for its decentralized derivatives infrastructure, powering over 80 derivative markets through its proprietary Synthetix Perps system. Notably, Synthetix has facilitated over $50 billion in trading volumes and introduced delta-neutral liquidity provision, distributing more than $25 million in trading fees to participants.

Utilizing ARB Rewards for Ecosystem Growth

The 2 million ARB tokens will be strategically distributed as follows:

- 1,000,000 ARB allocated for liquidity provider incentives to stimulate trading activity.

- 900,000 ARB set aside for trading fee rebates, offering up to 75% discounts on fees paid.

- 100,000 ARB dedicated to bolstering #stablecoin liquidity, emphasizing their crucial role in sustainable DeFi models.

Participants can engage in various beneficial activities under this program. Liquidity providers can deposit #USDC✅ , $ETH , ARB, and soon Ethena USDe into Synthetix pools. Additionally, supplying liquidity to USDx/USDC pools on Ramses, a prominent Arbitrum DEX, will soon be possible.

These initiatives, including new Perps trading options, present compelling opportunities for active participants in the perpetual derivatives trading sector to join as launch partners. By integrating with supported platforms, participants can earn fee rebate rewards, fostering engagement and volume growth.

Source - blockchainreporter.net

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🔥🔥🔥 $XRP Price Dips Again: What’s Causing The Continued Slide?

#XRPPrice Struggles and Potential Decline

The XRP price has struggled to break through the $0.480 resistance zone and is currently declining, potentially dropping below the $0.468 support level.

Key Points:

- Failed Gains: XRP couldn't extend gains above the $0.480 resistance and is now trading below $0.475 and the 100-hourly Simple Moving Average (SMA).

- Bearish Trend: A major bearish trend line forms resistance at $0.472 on the hourly chart (data source: Kraken).

- Possible Rejections: The pair might face rejections near $0.472 and $0.480.

Price Movement:

XRP attempted a recovery above $0.472, similar to #bitcoin☀️ and Ethereum , but faced resistance near $0.480. The price reached a high of $0.4797 before starting a fresh decline. It moved below $0.475 and $0.472, falling past the 50% Fib retracement level from $0.4619 to $0.4797. The price is now below $0.475 and the 100-hourly SMA, finding bids near the 61.8% Fib retracement level.

Resistance Levels:

- Initial resistance at $0.472.

- First major resistance at $0.475.

- Main hurdle at $0.480.

A clear move above $0.480 could push the price towards $0.485, with further resistance at $0.500. A close above $0.500 might lead to a rise to $0.512 and potentially $0.525.

Potential for More Losses:

- If XRP fails to clear the $0.472 resistance, it may continue to decline. Initial support is at $0.468, followed by major support at $0.462. A break below $0.462 could lead to further declines, possibly dropping below $0.432.

Technical Indicators:

- Hourly MACD: Gaining pace in the #BEARISH📉 zone.

- Hourly RSI: Below the 50 level.

- Major Support Levels: $0.468 and $0.462.

- Major Resistance Levels: $0.472 and $0.480.

In summary, XRP needs to break the $0.472 and $0.480 resistance levels to start a significant recovery. Failing to do so could result in continued declines, with key support at $0.462.

Source - newsbtc.com

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#GameStop (GME) Erases MTD Gains Amid #RoaringKitty 's Hibernation

Roaring Kitty's Silence Impacts GameStop (GME) Ecosystem Amid Price Decline

GME Price Decline Continues

- GameStop's stock price has faced significant declines in recent weeks, exacerbated by the absence of influential trader and social media figure #KeithGill , known as Roaring Kitty.
According to Yahoo Finance, GME was trading at $23.09 at the time of writing, marking a nearly 3% drop from Monday's closing and a 7% decrease over the past week. This latest downturn has contributed to a monthly decline of just over 3%, equating to approximately $0.75.

Recent Stock Movement

- The recent trajectory of GameStop's stock is a stark contrast to its highs just three weeks ago. In early June, the stock reached a monthly peak of $46.55 following Gill's announcement of acquiring a position worth nearly $600 million. This move sparked a remarkable 47.45% increase in one day, closing at $46.55 on June 6. Concurrently, the Solana-based #Memecoin🤑🤑 GME surged by 118%.

- However, shortly after, Gill reported a loss of $350 million in profits as the stock plummeted by 50% within two days. Subsequently, GameStop continued to experience losses, erasing much of its earlier gains.

GameStop's Strategic Shift

- GameStop's CEO, Ryan Cohen, recently indicated a strategic pivot towards achieving profitability by focusing on smaller networks of stores nationwide. This unexpected announcement further impacted the stock's value, leading to a 13.4% decline with shares trading at $24.86. Had the stock continued its upward trajectory, reaching as high as $65, bullish investors could have potentially seen their holdings reach $1 billion.
However, this scenario did not materialize.

Gill's Actions and Speculation

- Keith Gill exercised GME options, boosting his shares from 5M to over 9M, valued around $206M. Speculation on board membership halted by postponed shareholders' meeting, reflecting GameStop's volatile investor sentiment.

Source - coingape.com

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👉👉👉 #SolanaDown 15% in past seven days amid claims of alleged $SOL investigation

Solana has been thrust into the spotlight amid claims by analyst Crypto Bitlord regarding an alleged investigation, sparking a wave of criticism and controversy among crypto analysts and Solana supporters on X.

According to Crypto Bitlord's recent tweet, rumors of an investigation into Solana have been circulating for several weeks. The X community heavily criticized the influencer for his assertion, labeling it as mere speculation rather than verified information.

The tweet coincided with Solana's recent price decline, with the cryptocurrency witnessing a 15% drop over the past seven days. This combination of price movement and speculative claims amplified concerns within the market.

Among the reactions, #CryptoAnalyst Evanss6 (@Evan_ss6) expressed a pessimistic outlook, suggesting that the community might be witnessing the "death of Solana."
Conversely, Luke (@toroscrypto) supported Crypto Bitlord's stance, referencing earlier predictions that Solana could face challenges similar to those experienced by LUNA in previous cycles.

In contrast, analyst Ricki.sol (@rickicryptostix) of #MonkeDAO dismissed Crypto Bitlord's allegations as baseless, labeling the supposed investigation as "nonsense."

Solana Labs has yet to respond to inquiries regarding these developments from FXStreet.

Source - fxstreet.com

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💥💥💥 Will $NEAR Protocol Look For Bullish Reversal Or Continue Plunging? 

NEAR Protocol (NEAR) Price Analysis

Current Situation

- NEAR Protocol has initiated a recovery phase after dropping below the 200-day EMA and facing strong selling pressure, particularly since early June. The cryptocurrency is striving to stabilize around the $5 level, a critical psychological and technical support zone.

Bullish Chart Pattern

- On the daily NEAR/USD chart, there is a notable formation of a bullish flag pattern, indicating potential for upward movement if key resistance levels are breached.

Price Potential

- NEAR could see a significant upside of over 35% if it manages to surpass the recent hurdle at $5.75.

- The formation suggests a rebound scenario towards $8, contingent on broader market conditions improving.

Market Dynamics

- Despite recent declines, NEAR remains the 17th largest cryptocurrency with a market capitalization of $5.68 billion. Daily trading volume surged by over 160% to $493.8 million, reflecting active market participation.

Weighted Sentiment and Market Outlook

- The weighted sentiment curve currently hovers near neutral, indicating a balanced sentiment among investors and traders.

- A shift above the zero line in the sentiment curve could signify a positive bias and potential price gains for NEAR.

Technical Analysis

- NEAR is finding support near the dynamic 200-day EMA, a critical level for determining market sentiment.

- The bullish flag pattern on the daily chart suggests a potential rebound from the lower boundary of the pattern, reinforcing bullish prospects if resistance levels are breached.

Conclusion

NEAR Protocol aims for stability at $5, supported by a bullish chart pattern. A breakout above $5.75 could drive rally to $8 amid market recovery. Sustained weakness may test lower supports, impacting short-term trajectory.

Source - thecoinrepublic.com

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#CryptoBullish

🔥🔥🔥 #Chainlink Signals Upside Break: Analyzing $LINK ’s Bullish Indicators

Chainlink (LINK) Price Analysis

Current Status

- Chainlink's price is showing bullish signs, rebounding from the $12.65 support level and trading above $13.50 and the 100-hourly SMA.

Key Developments

- Bullish Momentum: LINK has moved up from $12.65, surpassing $13.00 and $13.20.

- Trend Line Break: A significant break above a bearish trend line at $13.60 on the hourly chart.

- Fibonacci Levels: Price surpassed the 50% retracement of the drop from $14.82 to $12.66, currently testing the 61.8% level near $14.05.

Resistance Levels

- Immediate resistance at $14.05.

- Key resistance at $14.20. A break above this could push LINK to $14.50, $14.80, and potentially $15.00 and $15.50.

Support Levels

- Initial support at $13.80.

- Major support at $13.65 and the 100-hourly SMA. Further downside could test $13.50 and $12.90.

Technical Indicators

- MACD: Gaining momentum in the bullish zone.

- RSI: Above 50, indicating bullish sentiment.

Outlook

- Chainlink could rise further if it breaks the $14.20 resistance. Failure to do so might lead to a correction towards $13.80 or $13.65.

Conclusion

Chainlink is positioned for potential gains above $14.00, with key resistance at $14.20. Support levels to watch include $13.80 and $13.65.

Source - newsbtc.com

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🔥🔥🔥 AI tokens $FET , $AGIX , $OCEAN , and #ARKM surge despite market sell-off

Several artificial intelligence (AI)-related cryptocurrencies have shown remarkable performance despite the market downturn on Monday. Among the top performers are Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX), and Arkham (ARKM).

According to CoinGecko data, Fetch.ai (FET) surged by 20% in the past 24 hours, with its current price standing at $1.69. Ocean Protocol (OCEAN) also demonstrated a positive trend, increasing by 15% to $0.68. Similarly, SingularityNET (AGIX) saw a 15.5% rise, currently trading at $0.68.

This price rally coincides with the Artificial Superintelligence Alliance's announcement, involving SingularityNET, Fetch.ai, and Ocean Protocol, about initiating the ASI token merger on July 1. Earlier, the alliance had postponed the merger to July 15.

Additionally, Arkham (ARKM), the native token of the AI-driven blockchain analytics platform Arkham, experienced a 16% increase in the past 24 hours, now trading at around $2.

The surge in AI-related tokens occurred amid a broader market correction triggered by news that the defunct crypto exchange Mt. Gox plans to repay its creditors $9 billion in July.

Historically, such news from Mt. Gox has led to market sell-offs. For example, last month, Bitcoin's price dropped from $70,000 to $68,500 following Arkham's report that a Mt. Gox-associated wallet was transferring 140,000 BTC (approximately $9 billion) to a new wallet, likely in preparation for creditor repayments.

Following the latest announcement, #Bitcoin's price fell below $59,000 but later recovered to over $61,000, still reflecting a 2% decline in the past 24 hours. Over the month, Bitcoin has seen an almost 11% drop.

Source - cryptobriefing.com

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💥💥💥 #dogwifhat falls out of top 50, tumbles 38% over past 7 days

Dogwifhat, a #memecoin🚀🚀🚀 on the #SolanaBlockchain , has experienced the sharpest price decline among the top 100 cryptocurrencies by market cap over the past seven days, yet it remains one of the top four memecoins.

In the last week, Dogwifhat (WIF) dropped by 38%, causing it to fall out of the top 50 cryptocurrencies by market capitalization. As of June 23, its market cap decreased by 9% within a 12-hour period to $1.60 billion, allowing Fantom (FTM) to surpass it with a market cap of $1.65 billion.

Despite discussions about WIF being in an accumulation zone, sentiment remains skeptical. A pseudonymous crypto trader, Blockgraze, noted on June 23 that the chart does not indicate significant accumulation.

Dogwifhat retains its position as the fourth largest memecoin by market cap, trailing Pepe (PEPE) with a market cap nearly three times larger at $4.57 billion.

Currently trading at $1.62, Dogwifhat's recent decline has also impacted futures traders' activities. Open Interest (OI) in Dogwifhat futures contracts has decreased by 25% to $209.64 million over the same period, according to CoinGlass data.

If Dogwifhat rebounds to $1.81, approximately $13.53 million in short positions could be liquidated.

The sentiment surrounding Dogwifhat has shifted from optimistic forecasts earlier this year. In March, when Dogwifhat reached $3 for the first time, Arthur Hayes, former BitMEX CEO and current CIO at Maelstrom, predicted a potential rally to $10.

Source - cointelegraph.com

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🔥🔥🔥 #tezos (XTZ) Battles Market Bears, Sees Price Rebound from $0.71 Lows

Tezos (XTZ) has been enduring a bearish trend, marked by a 29% decline year-to-date and a recent 4% drop over the past week. Analysts are closely monitoring a potential upward movement aiming for $0.94, although failure to achieve this could trigger further downside towards $0.60. Currently, XTZ is trading at $0.77, with a significant uptick in accumulation evident as indicated by the Chaikin Money Flow (CMF) indicator, reflecting growing investor confidence amidst volatile funding rates.

Despite ongoing consolidation within the $0.76 to $0.87 range, the market remains uncertain due to mixed signals. Positive funding rates suggest dominance of long contracts, while negative rates point to short contract prevalence, highlighting investor indecision about XTZ's short-term trajectory. Analysts emphasize that a breakout above $0.94 would signal bullish momentum, whereas a failure could potentially lead to a retreat to $0.60.

Beyond price movements, Tezos recently rolled out its 16th upgrade on the mainnet, aimed at reducing block finality times to just 10 seconds. This enhancement, particularly beneficial for the Ethereum Virtual Machine-compatible L2 network Etherlink, positions Tezos competitively against other Layer 2 solutions like Arbitrum and Optimism in terms of transaction efficiency and cost-effectiveness. Arthur Breitman, Tezos co-founder, highlighted the Paris upgrade's improvements, emphasizing Etherlink's enhanced user experience and competitive advantage in transaction finality over leading Ethereum L2 solutions.

Moreover, the upgrade introduces the Data Availability Layer (DAL), crucial for scaling Tezos' Smart #Rollups to potentially support millions of transactions per second (#TPS ) in the future. This scalability milestone underscores Tezos' commitment to advancing blockchain technology and enhancing its ecosystem's capabilities.

Source - crypto-news-flash.com

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🔥🔥🔥 Ethereum Price Trims Gains as #bitcoin☀️ Slump Drags Crypto Market

#EthereumPriceAnalysis

Current Situation

Ethereum encountered resistance near $3,550 and subsequently declined below $3,500, testing support around $3,385. It is currently consolidating losses.

Technical Details

Ethereum is trading below $3,500 and the 100-hourly Simple Moving Average (SMA).A bearish trend line is forming with resistance near $3,465 on the hourly chart (ETH/USD).The price is consolidating near the 23.6% Fibonacci retracement level of the decline from $3,543 to $3,388.

Key Levels and Scenarios

- Resistance: Immediate hurdles are near $3,430 and $3,465. Significant resistance lies at $3,520 and $3,550. A clear break above $3,550 could trigger a rally towards $3,650 or even $3,720.

- Support: Initial support is at $3,385, followed by a crucial zone around $3,350. Further downside could target $3,220 and potentially $3,100 if selling pressure intensifies.

Technical Indicators

- MACD: The hourly MACD is in the bearish zone, indicating increased selling momentum.

- RSI: The hourly RSI is below 50, suggesting a bearish bias in the short term.

Conclusion

Ethereum faces resistance near $3,465, with downside risk if it fails to break higher. Support levels to watch include $3,385 and $3,350, while a break above $3,550 is crucial for renewed bullish momentum towards higher targets.

Source - newsbtc.com

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