LIVEabbasinoman714
@abbasinoman714
Following
Followers
Liked
Shared
🔗 A whale who participated in the Ethereum ICO in 2015 and received 254,900 ETH (ICO price $0.311) transferred 7,000 ETH ($24.28M) to Kraken today after 209 days of silence. Currently, this whale still holds 40,000 ETH ($139.5M).
$ETH
$ETH
✔️ The German government transferred another 1,500 BTC ($94 million), including to the addresses of crypto exchanges
$BTC
$BTC
Top Cryptocurrency News
⏩ The US Securities and Exchange Commission (SEC) has approved the first Ethereum futures ETFs. This event has caused a significant increase in ETH prices, up to 500%.
⏩ A new regulation called MiCA (Markets in Crypto-Assets) has come into force in the European Union, establishing unified rules for the issuance and trading of crypto-assets. This could significantly change the cryptocurrency market in Europe.
⏩ The US Federal Open Market Committee (FOMC) has published the minutes of its latest meeting, providing insights into the future monetary policy of the US. This has also impacted the cryptocurrency market.
⏩ Mt. Gox has announced the upcoming release of 140,000 BTC to its creditors in July 2024. Analysts warn of possible market pressure and a drop in BTC prices to $50,000.
⏩ The price of Ripple (XRP) is holding at a critical support level of $0.47. Analysts expect a possible bullish reversal but also warn of a potential decline if the support level fails.
$XRP
$BTC
$ETH
⏩ The US Securities and Exchange Commission (SEC) has approved the first Ethereum futures ETFs. This event has caused a significant increase in ETH prices, up to 500%.
⏩ A new regulation called MiCA (Markets in Crypto-Assets) has come into force in the European Union, establishing unified rules for the issuance and trading of crypto-assets. This could significantly change the cryptocurrency market in Europe.
⏩ The US Federal Open Market Committee (FOMC) has published the minutes of its latest meeting, providing insights into the future monetary policy of the US. This has also impacted the cryptocurrency market.
⏩ Mt. Gox has announced the upcoming release of 140,000 BTC to its creditors in July 2024. Analysts warn of possible market pressure and a drop in BTC prices to $50,000.
⏩ The price of Ripple (XRP) is holding at a critical support level of $0.47. Analysts expect a possible bullish reversal but also warn of a potential decline if the support level fails.
$XRP
$BTC
$ETH
Polkadot and Chainlink on their way to $10 billion in July! DOT is up 5%, LINK is up 8.3% thanks to major partnerships. Stay tuned for more!
#Polkadot #Chainlink $LINK
$DOT
#Polkadot #Chainlink $LINK
$DOT
Filecoin (FIL-USD) is a decentralized storage system for the world’s important data. The major difference between Filecoin and other storage services is that it is peer-to-peer and managed by the individuals on the platform rather than a central body. On Filecoin, users pay for data storage and distribution services to providers (other users) using the $FIL token.
Despite its unique use case, Filecoin has performed poorly in the market this year and has been down by more than 21% in the last month. Furthermore, its trading volume and circulating supply have fallen 23% and 0.09%, respectively.
With the possibility of another bull run on the horizon, now may be the perfect time to get rid of Filecoin in favor of more promising altcoins if you own it.
$FIL
Despite its unique use case, Filecoin has performed poorly in the market this year and has been down by more than 21% in the last month. Furthermore, its trading volume and circulating supply have fallen 23% and 0.09%, respectively.
With the possibility of another bull run on the horizon, now may be the perfect time to get rid of Filecoin in favor of more promising altcoins if you own it.
$FIL
Axie Infinity (AXS-USD) is a blockchain-powered gaming platform modeled after popular retro games like Pokemon and Tamagotchi. The game involves collecting, raising, breeding, battling and trading creatures known as Axies against other players. These Axies are non-fungeable tokens (NFTs) and can take on over 500 different forms. They are divided into common, rare, ultra-rare and legendary categories.
Axie Infinity was regarded as the pinnacle of blockchain gaming and the metaverse experience at its launch. However, it has yet to quite deliver on that promise, partly due to the decline in interest in blockchain gaming following the events of the 2022 crypto winter. This year, Axie Infinity has emerged as one of the poorest performers in the crypto industry, and analysts are now reporting that it could drop 96% before the end of the year.
This is the most bearish Axie Infinity has been in recent memory. The emergence of newer use cases for crypto and blockchain technology, such as Depin, AI, and the tokenization of real-world assets, certainly does not help its case. It might be a while before the gaming and metaverse narrative recovers mindshare in the crypto industry, meaning that now is a great time to sell the AXS token if you own it. $AXS
Axie Infinity was regarded as the pinnacle of blockchain gaming and the metaverse experience at its launch. However, it has yet to quite deliver on that promise, partly due to the decline in interest in blockchain gaming following the events of the 2022 crypto winter. This year, Axie Infinity has emerged as one of the poorest performers in the crypto industry, and analysts are now reporting that it could drop 96% before the end of the year.
This is the most bearish Axie Infinity has been in recent memory. The emergence of newer use cases for crypto and blockchain technology, such as Depin, AI, and the tokenization of real-world assets, certainly does not help its case. It might be a while before the gaming and metaverse narrative recovers mindshare in the crypto industry, meaning that now is a great time to sell the AXS token if you own it. $AXS
Avalanche (AVAX-USD) is a popular layer one blockchain created as an alternative to Ethereum. It belongs to a group of blockchains known as “Ethereum Killers” due to their potential to replace the number one smart contract platform and remedy some of its pitfalls.
Although Avalanche successfully addresses the blockchain trilemma, which prevents blockchains from achieving decentralization to a sufficient scale and results in high gas fees, as in Ethereum’s case, it has failed to replace the latter as the industry’s number one smart contract platform. However, it attracted some Ethereum-based projects, such as Sushi Swap and TrueUSD.
With a market cap of over $9 billion, Avalanche is one of the most prominent blockchains in the crypto industry. However, this year hasn’t gone particularly well for the layer one network. It has fallen by over 30% in the last month and is on a downward spiral in the market. With the bull run starting anytime soon, now might be a great time to sell the coin. $AVAX
Although Avalanche successfully addresses the blockchain trilemma, which prevents blockchains from achieving decentralization to a sufficient scale and results in high gas fees, as in Ethereum’s case, it has failed to replace the latter as the industry’s number one smart contract platform. However, it attracted some Ethereum-based projects, such as Sushi Swap and TrueUSD.
With a market cap of over $9 billion, Avalanche is one of the most prominent blockchains in the crypto industry. However, this year hasn’t gone particularly well for the layer one network. It has fallen by over 30% in the last month and is on a downward spiral in the market. With the bull run starting anytime soon, now might be a great time to sell the coin. $AVAX
3 Cryptos to Sell in June Before They Crash & Burn
As the crypto industry gears up for another bull run, these are the cryptos to sell before it’s too late.
Avalanche (AVAX-USD): $AVAX
A layer one blockchain developed as an alternative to Ethereum, but it has been unable to unseat the smart contract platform.
Axie Infinity (AXS-USD): $AXS
Once seen as the pinnacle of blockchain gaming and the metaverse, this platform faded into the background following the 2022 crypto winter
File Coin (FIL-USD): $FIL
A blockchain-powered digital storage and retrieval platform aiming to store important data that has performed poorly in the market this year.
As the crypto industry gears up for another bull run, these are the cryptos to sell before it’s too late.
Avalanche (AVAX-USD): $AVAX
A layer one blockchain developed as an alternative to Ethereum, but it has been unable to unseat the smart contract platform.
Axie Infinity (AXS-USD): $AXS
Once seen as the pinnacle of blockchain gaming and the metaverse, this platform faded into the background following the 2022 crypto winter
File Coin (FIL-USD): $FIL
A blockchain-powered digital storage and retrieval platform aiming to store important data that has performed poorly in the market this year.
Crypto: $860 Million in Tokens To Be Released Next Month
The crypto market is poised for a turbulent July with the unlocking of tokens worth a total of 860 million dollars. Around 40 crypto projects will see a portion of their tokens released on the market, an event that could have significant repercussions on prices and market dynamics.The leading projects
Among the many projects affected, Xai crypto stands out with a massive unlock scheduled for July 9th. Approximately 198 million XAI tokens, representing 71.5% of its circulating supply, will be released with an estimated value of 97 million dollars. These tokens will go to the team, the reserve, investors, and the project’s ecosystem.The crypto Aptos will closely follow with an unlock of 11.3 million APT tokens on July 12th, worth nearly 79 million dollars. These tokens will be distributed to the Aptos Foundation, its community, key contributors, and investors.
Arbitrum plans to release 92.6 million of its ARB crypto on July 16th, valued at 76 million dollars, intended for the team, investors, and project advisors. Lastly, AltLayer will unlock 684 million ALT tokens on July 25th, representing 45% of its circulating supply and valued at approximately 133 million dollars.
Other notable projects include Io.net, Starknet, and Sui. Io.net will unlock 7.5 million IO tokens, representing 8% of its circulating supply and valued at 26 million dollars, on July 1st. Starknet will release 64 million STRK cryptos on July 15th, accounting for 5% of its supply, worth 47 million dollars.
Sui, meanwhile, will unlock 64 million SUI cryptos on July 1st, representing 2.5% of its circulating supply and valued at 56 million dollars.Implications for the crypto market
Token unlocking refers to the release of tokens that were previously prohibited from trading.
This release can lead to increased selling pressure, as a large quantity of tokens enters the market, potentially driving down prices. Investors often fear these unlocks, anticipating a price drop.
However, not all-token unlocks are necessarily negative. Smaller unlocks can have a minimal impact on prices.
Additionally, according to an annual report by Token Unlocks, tokens increase on average by 34% after their unlock for private investors. This shows that unlocks can also offer interesting buying opportunities if market conditions are favorable.The exact impact of token unlocks remains often unpredictable. While some investors might prepare for a price drop, others see these moments as opportunities to enter the market at lower prices. The inherent volatility of cryptocurrencies means that unlocks can create both risks and opportunities.
The advantages of Bitcoin in this context
Unlike many altcoins, Bitcoin remains a safe haven in the crypto universe. Its significant market capitalization and market leader position make it a more stable option compared to more volatile altcoins.
Investors often see Bitcoin as a hedge against the extreme fluctuations observed in newer and less established projects.
Bitcoin continues to benefit from increasing adoption by financial institutions and renowned companies.
This institutional recognition strengthens its position and resilience in the face of market turbulence. Moreover, regulations and financial infrastructures around bitcoin are developing, offering additional security to investors.
Bitcoin’s blockchain is the oldest and most tested of all. Its security, transparency, and decentralization are widely recognized, giving it a certain advantage over other projects still in development or less mature. In times of volatility, these characteristics make Bitcoin a more attractive option for investors seeking stability.
$ETH
$BTC
$SOL
Among the many projects affected, Xai crypto stands out with a massive unlock scheduled for July 9th. Approximately 198 million XAI tokens, representing 71.5% of its circulating supply, will be released with an estimated value of 97 million dollars. These tokens will go to the team, the reserve, investors, and the project’s ecosystem.The crypto Aptos will closely follow with an unlock of 11.3 million APT tokens on July 12th, worth nearly 79 million dollars. These tokens will be distributed to the Aptos Foundation, its community, key contributors, and investors.
Arbitrum plans to release 92.6 million of its ARB crypto on July 16th, valued at 76 million dollars, intended for the team, investors, and project advisors. Lastly, AltLayer will unlock 684 million ALT tokens on July 25th, representing 45% of its circulating supply and valued at approximately 133 million dollars.
Other notable projects include Io.net, Starknet, and Sui. Io.net will unlock 7.5 million IO tokens, representing 8% of its circulating supply and valued at 26 million dollars, on July 1st. Starknet will release 64 million STRK cryptos on July 15th, accounting for 5% of its supply, worth 47 million dollars.
Sui, meanwhile, will unlock 64 million SUI cryptos on July 1st, representing 2.5% of its circulating supply and valued at 56 million dollars.Implications for the crypto market
Token unlocking refers to the release of tokens that were previously prohibited from trading.
This release can lead to increased selling pressure, as a large quantity of tokens enters the market, potentially driving down prices. Investors often fear these unlocks, anticipating a price drop.
However, not all-token unlocks are necessarily negative. Smaller unlocks can have a minimal impact on prices.
Additionally, according to an annual report by Token Unlocks, tokens increase on average by 34% after their unlock for private investors. This shows that unlocks can also offer interesting buying opportunities if market conditions are favorable.The exact impact of token unlocks remains often unpredictable. While some investors might prepare for a price drop, others see these moments as opportunities to enter the market at lower prices. The inherent volatility of cryptocurrencies means that unlocks can create both risks and opportunities.
The advantages of Bitcoin in this context
Unlike many altcoins, Bitcoin remains a safe haven in the crypto universe. Its significant market capitalization and market leader position make it a more stable option compared to more volatile altcoins.
Investors often see Bitcoin as a hedge against the extreme fluctuations observed in newer and less established projects.
Bitcoin continues to benefit from increasing adoption by financial institutions and renowned companies.
This institutional recognition strengthens its position and resilience in the face of market turbulence. Moreover, regulations and financial infrastructures around bitcoin are developing, offering additional security to investors.
Bitcoin’s blockchain is the oldest and most tested of all. Its security, transparency, and decentralization are widely recognized, giving it a certain advantage over other projects still in development or less mature. In times of volatility, these characteristics make Bitcoin a more attractive option for investors seeking stability.
$ETH
$BTC
$SOL
📣 SEC delays Ethereum ETF launch
The SEC has postponed the Ethereum ETF launch to mid-July or later, requiring more time to review S-1 forms 🙂
SEC Chair Gary Gensler noted the process is smooth but could take months, possibly extending to September 🤩
$ETH
The SEC has postponed the Ethereum ETF launch to mid-July or later, requiring more time to review S-1 forms 🙂
SEC Chair Gary Gensler noted the process is smooth but could take months, possibly extending to September 🤩
$ETH
Ether to hit $6.5k later this year thanks to inflows into spot ETFs: $ETH
Steno Research forecasts net inflows of $15-20 billion into ether spot ETFs in the first 12 months.
-- Ether is expected to reach $6500 later this year due to strong ETF inflows and other positive factors, the report said.
-- Galaxy Research estimates net inflows of $5 billion for ether ETF offerings in the first five months, Bitwise expects $15 billion in inflows in the first 18 months.
The crypto market is overly pessimistic about the upcoming launch of spot ether (ETH) exchange traded funds (ETFs) in the U.S., and net inflows could reach $20 billion in the first year as the Cryptocurrency has qualities that appeal to Wall Street. , said Steno Research in a report on Thursday.
"We continue to forecast net inflows of $15 billion to $20 billion in the first 12 months, even accounting for outflows from Grayscale Ethereum Trust (ETHE)," wrote senior analyst Mads Eberhardt, adding that this should drive the value of ether. , in dollar terms as well as relative to Bitcoin (BTC).
The value of ether is projected to reach at least $6500 later this year due to expected inflows into spot ETFs as well as additional tailwinds, the report said.
Spot ether ETFs are on the cusp of becoming available for trading in the U.S. after the Securities and Exchange Commission (SEC) gave the go-ahead for issuer filings last month. Once the S-1 filings are approved, the new products will begin trading, and reports suggest that could happen as early as next week.
"The smaller inflows into ether ETFs compared to Bitcoin ETFs will have a greater impact on ether due to its lower market capitalization and significantly lower liquidity," and the resulting inflows into spot ETH are likely to surprise the upside rather than the downside, the report added.
Galaxy (GLXY) Research said spot ether ETFs could see net inflows of $5 billion in the first five months. Asset manager Bitwise predicts net inflows of $15 billion in the first 18 months.
Steno Research forecasts net inflows of $15-20 billion into ether spot ETFs in the first 12 months.
-- Ether is expected to reach $6500 later this year due to strong ETF inflows and other positive factors, the report said.
-- Galaxy Research estimates net inflows of $5 billion for ether ETF offerings in the first five months, Bitwise expects $15 billion in inflows in the first 18 months.
The crypto market is overly pessimistic about the upcoming launch of spot ether (ETH) exchange traded funds (ETFs) in the U.S., and net inflows could reach $20 billion in the first year as the Cryptocurrency has qualities that appeal to Wall Street. , said Steno Research in a report on Thursday.
"We continue to forecast net inflows of $15 billion to $20 billion in the first 12 months, even accounting for outflows from Grayscale Ethereum Trust (ETHE)," wrote senior analyst Mads Eberhardt, adding that this should drive the value of ether. , in dollar terms as well as relative to Bitcoin (BTC).
The value of ether is projected to reach at least $6500 later this year due to expected inflows into spot ETFs as well as additional tailwinds, the report said.
Spot ether ETFs are on the cusp of becoming available for trading in the U.S. after the Securities and Exchange Commission (SEC) gave the go-ahead for issuer filings last month. Once the S-1 filings are approved, the new products will begin trading, and reports suggest that could happen as early as next week.
"The smaller inflows into ether ETFs compared to Bitcoin ETFs will have a greater impact on ether due to its lower market capitalization and significantly lower liquidity," and the resulting inflows into spot ETH are likely to surprise the upside rather than the downside, the report added.
Galaxy (GLXY) Research said spot ether ETFs could see net inflows of $5 billion in the first five months. Asset manager Bitwise predicts net inflows of $15 billion in the first 18 months.
🔍 Daily crypto market overview:
Global market cap:
$2.24T(-0.45% in 24h)
24h Trading volume:
$34.86B(-41.56%)
Bitcoin dominance:
53.40% (+0.24%)
$BTC
Global market cap:
$2.24T(-0.45% in 24h)
24h Trading volume:
$34.86B(-41.56%)
Bitcoin dominance:
53.40% (+0.24%)
$BTC
🕯 Daily review of the cryptocurrency market
There are no significant changes in the market. BTC is trying to break above $60,700. ETH is trading below $3,400.
🔼 There are few growing assets: KAS +6%, TON +3%.
🔽 There are many more falling assets: CFX -8%, ENS -8%, FET -7%, WLD -7%, AGIX -6%, INJ -6%, JASMY-6%, PEPE -6%, WIF -6%, TAO -5%, VET -5%.
$BTC
$ETH
$WIF
There are no significant changes in the market. BTC is trying to break above $60,700. ETH is trading below $3,400.
🔼 There are few growing assets: KAS +6%, TON +3%.
🔽 There are many more falling assets: CFX -8%, ENS -8%, FET -7%, WLD -7%, AGIX -6%, INJ -6%, JASMY-6%, PEPE -6%, WIF -6%, TAO -5%, VET -5%.
$BTC
$ETH
$WIF
Cardano (ADA’s ) Prospects at $6 ??
Cardano price could easily set a new all-time high if it follows Bitcoin price movements as the premier crypto hits the $1 million price predicted by Bernstein.
The market has not been favorable to Bitcoin (BTC) in recent times, as the leading crypto asset collapses 16.5% from its all-time high above $73,700 attained on March 14. Bitcoin’s underperformance has had a negative impact on the broader market, with altcoins like Cardano (ADA) also taking the heat.
Cardano Price Correlation with Bitcoin
Interestingly, when BTC reached its peak price of over $73,700 on March 14, ADA also surged to a high of $0.8104. This represented Cardano’s yearly top and its highest price since April 2022, before the infamous Terra ecosystem collapse.
As Bitcoin retraced the Q1 2024 gains, Cardano has similarly declined. Currently trading for $0.3881 at the reporting time, ADA has slumped by 52.08% from the March 14 high. This is as a result of Cardano’s higher volatility compared to Bitcoin.
Nonetheless, these price movements confirm Cardano’s price correlation with Bitcoin, a pattern that can be both favorable and bearish. IntoTheBlock’s Correlation Matrix confirms this price relationship. Notably, the metric indicates that Cardano boasts a 90% correlation with Bitcoin in the past month.
Cardano Price if Bitcoin Hits $1M
With Bitcoin poised to reach greater heights in this market cycle and beyond, this correlation could be beneficial for Cardano. Notably, among some of the notable price projections for BTC is the ambitious one from wealth management firm Bernstein. The company expects Bitcoin to reach $1 million by 2033, nine years later.
BTC currently changes hands at $61,541 as of press time. A $1 million target would necessitate a massive 1,524% price rally in the next nine years. Notably, Bitcoin is up 19,061% over the last nine years. This historical performance lends some credence to Bernstein’s projection.
Due to Cardano’s close correlation with Bitcoin, The Crypto Basic recently assessed what Cardano price would be if it moved alongside Bitcoin. As Cardano currently trades for $0.3881, a 1,524% increase will take this value to $6.3. This Cardano price could put the token’s market cap at $225.24 billion assuming its circulating supply remains stable.
HomeCrypto NewsMarketHere’s Cardano Price if Bitcoin Hits $1,000,000 as Forecasted by Bernstein
Here’s Cardano Price if Bitcoin Hits $1,000,000 as Forecasted by Bernstein's
Cardano price could easily set a new all-time high if it follows Bitcoin price movements as the premier crypto hits the $1 million price predicted by Bernstein.
The market has not been favorable to Bitcoin (BTC) in recent times, as the leading crypto asset collapses 16.5% from its all-time high above $73,700 attained on March 14. Bitcoin’s underperformance has had a negative impact on the broader market, with altcoins like Cardano (ADA) also taking the heat.
Cardano Price Correlation with Bitcoin
Interestingly, when BTC reached its peak price of over $73,700 on March 14, ADA also surged to a high of $0.8104. This represented Cardano’s yearly top and its highest price since April 2022, before the infamous Terra ecosystem collapse.
As Bitcoin retraced the Q1 2024 gains, Cardano has similarly declined. Currently trading for $0.3881 at the reporting time, ADA has slumped by 52.08% from the March 14 high. This is as a result of Cardano’s higher volatility compared to Bitcoin.
Nonetheless, these price movements confirm Cardano’s price correlation with Bitcoin, a pattern that can be both favorable and bearish. IntoTheBlock’s Correlation Matrix confirms this price relationship. Notably, the metric indicates that Cardano boasts a 90% correlation with Bitcoin in the past month.
Cardano Price if Bitcoin Hits $1M
With Bitcoin poised to reach greater heights in this market cycle and beyond, this correlation could be beneficial for Cardano. Notably, among some of the notable price projections for BTC is the ambitious one from wealth management firm Bernstein. The company expects Bitcoin to reach $1 million by 2033, nine years later.
BTC currently changes hands at $61,541 as of press time. A $1 million target would necessitate a massive 1,524% price rally in the next nine years. Notably, Bitcoin is up 19,061% over the last nine years. This historical performance lends some credence to Bernstein’s projection.
Bitcoin Nine Year Growth
Due to Cardano’s close correlation with Bitcoin, The Crypto Basic recently assessed what Cardano price would be if it moved alongside Bitcoin. As Cardano currently trades for $0.3881, a 1,524% increase will take this value to $6.3. This Cardano price could put the token’s market cap at $225.24 billion assuming its circulating supply remains stable.
ADA’s Prospects at $6
Some market analysts have made projections of a Cardano price push to $6. Notably, a pseudonymous TradingView analyst called attention to the repetition of an Elliott Wave pattern on Cardano’s daily chart. He predicted an imminent surge to $6 upon the completion of Wave 5.
ADA’s chances of reaching the $6.3 level are relatively high amid the ongoing development within its ecosystem. Prominent among these developments is the anticipated launch of the Vasil hard fork. This update is expected to push Cardano into a more decentralized system.
$ADA
#ADA.智能策略库🥇🥇
The market has not been favorable to Bitcoin (BTC) in recent times, as the leading crypto asset collapses 16.5% from its all-time high above $73,700 attained on March 14. Bitcoin’s underperformance has had a negative impact on the broader market, with altcoins like Cardano (ADA) also taking the heat.
Cardano Price Correlation with Bitcoin
Interestingly, when BTC reached its peak price of over $73,700 on March 14, ADA also surged to a high of $0.8104. This represented Cardano’s yearly top and its highest price since April 2022, before the infamous Terra ecosystem collapse.
As Bitcoin retraced the Q1 2024 gains, Cardano has similarly declined. Currently trading for $0.3881 at the reporting time, ADA has slumped by 52.08% from the March 14 high. This is as a result of Cardano’s higher volatility compared to Bitcoin.
Nonetheless, these price movements confirm Cardano’s price correlation with Bitcoin, a pattern that can be both favorable and bearish. IntoTheBlock’s Correlation Matrix confirms this price relationship. Notably, the metric indicates that Cardano boasts a 90% correlation with Bitcoin in the past month.
Cardano Price if Bitcoin Hits $1M
With Bitcoin poised to reach greater heights in this market cycle and beyond, this correlation could be beneficial for Cardano. Notably, among some of the notable price projections for BTC is the ambitious one from wealth management firm Bernstein. The company expects Bitcoin to reach $1 million by 2033, nine years later.
BTC currently changes hands at $61,541 as of press time. A $1 million target would necessitate a massive 1,524% price rally in the next nine years. Notably, Bitcoin is up 19,061% over the last nine years. This historical performance lends some credence to Bernstein’s projection.
Due to Cardano’s close correlation with Bitcoin, The Crypto Basic recently assessed what Cardano price would be if it moved alongside Bitcoin. As Cardano currently trades for $0.3881, a 1,524% increase will take this value to $6.3. This Cardano price could put the token’s market cap at $225.24 billion assuming its circulating supply remains stable.
HomeCrypto NewsMarketHere’s Cardano Price if Bitcoin Hits $1,000,000 as Forecasted by Bernstein
Here’s Cardano Price if Bitcoin Hits $1,000,000 as Forecasted by Bernstein's
Cardano price could easily set a new all-time high if it follows Bitcoin price movements as the premier crypto hits the $1 million price predicted by Bernstein.
The market has not been favorable to Bitcoin (BTC) in recent times, as the leading crypto asset collapses 16.5% from its all-time high above $73,700 attained on March 14. Bitcoin’s underperformance has had a negative impact on the broader market, with altcoins like Cardano (ADA) also taking the heat.
Cardano Price Correlation with Bitcoin
Interestingly, when BTC reached its peak price of over $73,700 on March 14, ADA also surged to a high of $0.8104. This represented Cardano’s yearly top and its highest price since April 2022, before the infamous Terra ecosystem collapse.
As Bitcoin retraced the Q1 2024 gains, Cardano has similarly declined. Currently trading for $0.3881 at the reporting time, ADA has slumped by 52.08% from the March 14 high. This is as a result of Cardano’s higher volatility compared to Bitcoin.
Nonetheless, these price movements confirm Cardano’s price correlation with Bitcoin, a pattern that can be both favorable and bearish. IntoTheBlock’s Correlation Matrix confirms this price relationship. Notably, the metric indicates that Cardano boasts a 90% correlation with Bitcoin in the past month.
Cardano Price if Bitcoin Hits $1M
With Bitcoin poised to reach greater heights in this market cycle and beyond, this correlation could be beneficial for Cardano. Notably, among some of the notable price projections for BTC is the ambitious one from wealth management firm Bernstein. The company expects Bitcoin to reach $1 million by 2033, nine years later.
BTC currently changes hands at $61,541 as of press time. A $1 million target would necessitate a massive 1,524% price rally in the next nine years. Notably, Bitcoin is up 19,061% over the last nine years. This historical performance lends some credence to Bernstein’s projection.
Bitcoin Nine Year Growth
Due to Cardano’s close correlation with Bitcoin, The Crypto Basic recently assessed what Cardano price would be if it moved alongside Bitcoin. As Cardano currently trades for $0.3881, a 1,524% increase will take this value to $6.3. This Cardano price could put the token’s market cap at $225.24 billion assuming its circulating supply remains stable.
ADA’s Prospects at $6
Some market analysts have made projections of a Cardano price push to $6. Notably, a pseudonymous TradingView analyst called attention to the repetition of an Elliott Wave pattern on Cardano’s daily chart. He predicted an imminent surge to $6 upon the completion of Wave 5.
ADA’s chances of reaching the $6.3 level are relatively high amid the ongoing development within its ecosystem. Prominent among these developments is the anticipated launch of the Vasil hard fork. This update is expected to push Cardano into a more decentralized system.
$ADA
#ADA.智能策略库🥇🥇
🐤 Solana's Price Could Surge to $1300 if ETF is Approved in the US
Market maker GSR's projections considered three scenarios: bearish, base, and "blue sky."
Experts analyzed various assets based on criteria such as market demand, decentralization, financial flows, and technological components. They concluded that Solana has the highest chances of securing an ETF after Ethereum.
🤔 It’s advisable to take this into consideration.
$SOL
#ETH_ETFs_Approval_Predictions #US_Inflation_Easing_Alert #ETHETFsApproved
Market maker GSR's projections considered three scenarios: bearish, base, and "blue sky."
Experts analyzed various assets based on criteria such as market demand, decentralization, financial flows, and technological components. They concluded that Solana has the highest chances of securing an ETF after Ethereum.
🤔 It’s advisable to take this into consideration.
$SOL
#ETH_ETFs_Approval_Predictions #US_Inflation_Easing_Alert #ETHETFsApproved
MAGA (TRUMP)
The talk of the town – or rather, the talk of the shining city on a hill – in 2024 have been the upcoming presidential elections. The trend has also translated into the crypto markets and has generated numerous meme coins centered on one of the two main candidates – Joe Biden and Donald Trump – and several non-fungeable token (NFT) collections.
While any of the candidate-themed cryptocurrencies could theoretically skyrocket should the associated politician win, the MAGA tokens have, by press time, started appearing vastly more likely than the Biden ones.
The notion only became more true on June 28, given the reports that the Democratic party is looking to replace the elderly President on the November ballot after his performance during the June 27 debate.
Out of the Trump cryptocurrencies, the biggest reaction in case of victory is likely to come from MAGA (TRUMP) meme coin. It is not only the largest of the bunch, with a market capitalization of almost $350 million, but has already shown strong reactions to the candidate-related news.
Interestingly, the MAGA meme coin saw its biggest spike and its all-time high (ATH) a day after former president Trump was convicted. Overall, the cryptocurrency’s price, at the time of publication, stands at $7.96 and it is up 47,932% in the all-time chart. $BTC
The talk of the town – or rather, the talk of the shining city on a hill – in 2024 have been the upcoming presidential elections. The trend has also translated into the crypto markets and has generated numerous meme coins centered on one of the two main candidates – Joe Biden and Donald Trump – and several non-fungeable token (NFT) collections.
While any of the candidate-themed cryptocurrencies could theoretically skyrocket should the associated politician win, the MAGA tokens have, by press time, started appearing vastly more likely than the Biden ones.
The notion only became more true on June 28, given the reports that the Democratic party is looking to replace the elderly President on the November ballot after his performance during the June 27 debate.
Out of the Trump cryptocurrencies, the biggest reaction in case of victory is likely to come from MAGA (TRUMP) meme coin. It is not only the largest of the bunch, with a market capitalization of almost $350 million, but has already shown strong reactions to the candidate-related news.
Interestingly, the MAGA meme coin saw its biggest spike and its all-time high (ATH) a day after former president Trump was convicted. Overall, the cryptocurrency’s price, at the time of publication, stands at $7.96 and it is up 47,932% in the all-time chart. $BTC
XRP (XRP)
The argument for XRP’s likely surging has remained largely unchanged for years. XRP is a major cryptocurrency whose price is severely depressed by the long legal battle between Ripple and the SEC. Based on this assessment, it appears obvious that, should the regulator lose the fight in the next round of court battles, XRP has the potential to surge if the aftermath of the first case is anything to go by.
Though the argument is relatively old, it has been reinforced by several developments in the last 12 months. The most recent of these is that the SEC’s authority appears to be on a descent.
While far from a coup de grâce for the Ripple battle, the U.S. Supreme Court’s (SCOTUS) ruling against the regulator’s ability to use in-house rules has certainly hampered the SEC’s ability to prevail in future cases.
In general, the Commission is finding itself under mounting pressure, as Coinbase (NASDAQ: COIN) recently filed its own lawsuit against it and several other agencies, and Ripple has also been scoring occasional wins over the months. #Write2Earn!
$XRP
The argument for XRP’s likely surging has remained largely unchanged for years. XRP is a major cryptocurrency whose price is severely depressed by the long legal battle between Ripple and the SEC. Based on this assessment, it appears obvious that, should the regulator lose the fight in the next round of court battles, XRP has the potential to surge if the aftermath of the first case is anything to go by.
Though the argument is relatively old, it has been reinforced by several developments in the last 12 months. The most recent of these is that the SEC’s authority appears to be on a descent.
While far from a coup de grâce for the Ripple battle, the U.S. Supreme Court’s (SCOTUS) ruling against the regulator’s ability to use in-house rules has certainly hampered the SEC’s ability to prevail in future cases.
In general, the Commission is finding itself under mounting pressure, as Coinbase (NASDAQ: COIN) recently filed its own lawsuit against it and several other agencies, and Ripple has also been scoring occasional wins over the months. #Write2Earn!
$XRP
Solana (SOL)
As of late June 2024, Solana (SOL) finds itself in a precarious position. The fact that it has been such a popular blockchain for millions of new projects has exposed the Solana network both to criticism and potential legal issues – if recent rumors of a ‘huge case are true.
Additionally, the SOL ecosystem came under fire on June 27 after a 90% drop in stablecoin daily volume made many suspect wash trading used to inflate the numbers, and that much of Solana’s popularity amounts to little more than smoke and mirrors.
Despite this, SOL has also proven to rapidly surge on positive news as it did after VanEck’s plans to establish a trust for the token were unveiled. Given that Solana is considered the likeliest cryptocurrency to have an exchange-traded fund (ETF) approved – after Ethereum, that is – it might just rocket to unprecedented highs before 2024 is out.
$SOL
As of late June 2024, Solana (SOL) finds itself in a precarious position. The fact that it has been such a popular blockchain for millions of new projects has exposed the Solana network both to criticism and potential legal issues – if recent rumors of a ‘huge case are true.
Additionally, the SOL ecosystem came under fire on June 27 after a 90% drop in stablecoin daily volume made many suspect wash trading used to inflate the numbers, and that much of Solana’s popularity amounts to little more than smoke and mirrors.
Despite this, SOL has also proven to rapidly surge on positive news as it did after VanEck’s plans to establish a trust for the token were unveiled. Given that Solana is considered the likeliest cryptocurrency to have an exchange-traded fund (ETF) approved – after Ethereum, that is – it might just rocket to unprecedented highs before 2024 is out.
$SOL
📣 Analyst warns of potential Bitcoin correction
«Cryptocurrency strategist Rekt Capital predicts Bitcoin (BTC) could drop over 8% to around $55,000, potentially matching the deepest correction this cycle at 23.8%» - according to The Daily Hodl 📌
However, he considers a significant drop unlikely, suggesting the bottom may be near or only a minor pullback might occur 😐
$BTC
«Cryptocurrency strategist Rekt Capital predicts Bitcoin (BTC) could drop over 8% to around $55,000, potentially matching the deepest correction this cycle at 23.8%» - according to The Daily Hodl 📌
However, he considers a significant drop unlikely, suggesting the bottom may be near or only a minor pullback might occur 😐
$BTC
🕯 Daily review of the cryptocurrency market
The market went into correction again. BTC has dropped to $66,600. ETH is trading below $3,400.
🔼 There are few growing assets: QNT +7%, AR +4%.
🔽 There are many more falling assets: LDO -15%, ENA -8%, STRK -7%, GNO -7%, TAO -6%, NOT -6%, BONK -6%, BOME -6%, UNI -6%, PEPE -5%.
$BTC
$QNT
$ENA
The market went into correction again. BTC has dropped to $66,600. ETH is trading below $3,400.
🔼 There are few growing assets: QNT +7%, AR +4%.
🔽 There are many more falling assets: LDO -15%, ENA -8%, STRK -7%, GNO -7%, TAO -6%, NOT -6%, BONK -6%, BOME -6%, UNI -6%, PEPE -5%.
$BTC
$QNT
$ENA
Explore the lastest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Trending Topics
US_Inflation_Easing_Alert
4.4M views
2,512 Posts
U.S. PCE Inflation Hits 2.6% in May, Signaling Easing Inflationary Pressure
Binance News
20 Likes
3k views
MiCA
2.1M views
1,201 Posts
IntroToCopytrading
5M views
2,453 Posts
