Dogecoin Price Flashes Signal From 2021: Will 15,000% History Repeat?

The recent Dogecoin price action is flashing a familiar signal from 2021, sparking speculation about whether history is poised to repeat itself.

Back then, DOGE price experienced a meteoric 15,000% rise, captivating the crypto space. As a similar pattern has emerged, could it herald another substantial surge, driving DOGE to new heights again?

DOGE price has decreased 7.4% in the last 24 hours following the stock market crash, which wiped out over $900 billion.

The ripple effect reached the crypto markets, which have dropped by 5.2% and now have a $2.433 trillion market cap. The price of Dogecoin is $0.1596.

Despite the fall, the Dogecoin price remains bullish. As traders prepare to ride the next wave higher, an analyst has predicted that a similar pattern observed in 2021 could result in a massive DOGE price explosion in this bull run.

Dogecoin Price Repeats 2021 Signal, Will 15,000% Rally Follow?
Head of Research at NewsBTC Tony Severino shared his observation on the Dogecoin chart, noting that the two-month Logarithmic Moving Average Convergence Divergence (LMACD) had crossed bullish for the first time since 2021.

Moreover, Trader Alan observed a golden cross on the weekly chart. He noted that the last golden cross in 2023 pumped Dogecoin from $0.069 to $0.23, a 233% increase. If DOGE repeats the same scenario, it will reach $0.47.

From Severino’s observation, a quick mean calculation of the two previous price surges gives a potential increase of 8,628% if history repeats. This puts Dogecoin price around $10, with a potential market cap of $1.466 trillion.

Additionally, the average of the two periods it took to surge 4,300% and 12,000% comes down to 213 days. This means that from the time the breakout candle began forming, the 8,600% DOGE rally is likely to take 213 days, ending April 2025.

#Doge #Dogecoin #Memecoins #CryptoAMA #NovCryptoOutlook $DOGE $BTC $SOL

SEC Confirms Grayscale’s Application to Convert Digital Large Cap Fund into ETF

Two weeks after Grayscale submitted its application to convert
the Grayscale Digital Large Cap Fund (GDLC) into an ETF, the Securities and Exchange Commission (SEC) confirmed the filing.

Grayscale now faces a wait of several more months for feedback from the SEC.

Grayscale Nears Launch of Multi-Asset Crypto ETF

On October 29, the SEC acknowledged the application to convert the Digital Large Cap Fund (GDLC) into an ETF. The GDLC manages assets like Solana and XRP, which the SEC classifies as securities.

This confirmation brings Grayscale closer to launching the first multi-asset crypto ETF. According to the SEC, a decision on the application will come within 45 to 90 days.

Meanwhile, the US will determine its new president in less than a week.

A Trump victory could lead to significant changes, including the potential replacement of SEC Chairman Gary Gensler. Industry experts believe that if Trump wins, altcoin-related ETFs could receive approval more easily.

Two weeks ago, when Grayscale filed the application to convert GDLC into an ETF, the fund traded at a significant discount of over 30%.

This discount has now narrowed to 17%. The narrowing discount indicates investor optimism about the potential approval of the GDLC ETF.

As reported by BeInCrypto, on October 15, Grayscale filed a Form 19b-4 with the SEC, requesting the conversion of the Grayscale Digital Large Cap Fund (GDLC) into a new ETF.

The Grayscale Digital Large Cap Fund (GDLC) allows investors to gain exposure to leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX).

Bitcoin and Ethereum make up 94% of the fund, which currently manages over $558 million in assets.

Additionally, VanEck, 21Shares, and Canary Capital have filed several applications to list other spot ETFs related to assets such as Solana, XRP, and Litecoin.

#SEC #Grayscale #BinanceBlockchainWeek #USADPSurges #16thBTCWhitePaperAnniv $BTC $ETH $BNB

PEPE becomes the first memecoin to be listed on Japan’s BITPoint exchange

PEPE has become the first memecoin in Japan after local crypto exchange BITPoint became the first exchange in the country to list the memecoin.

The memecoin is available on BITPoint for spot trading, saving, and lending as part of the exchange’s offerings to Japan customers. 

PEPE memecoin has unlocked a new market in Japan by becoming the first memecoin to be listed on Japanese crypto exchanges. BITPoint, a Tokyo-based crypto exchange, listed the digital asset on October 30th in various derivatives such as spot trading, lending, and fixed investment savings on the exchange.

BITPoint initiates giveaway campaigns for PEPE investors
The exchange set up two campaigns to make the listing more appealing to investors.

The first campaign involves a random giveaway of PEPE coins worth 100,000 yen to ten investors who purchase PEPE worth 10,000 yen or more. The second campaign will include a program for followers of BITPoint X account held until November 27th.

PEPE is a memecoin inspired by Pepe the Frog, a comic character and internet sensation designed as a green anthropomorphic frog with human-like features.

According to CoinMarketCap, the memecoin is trading at $0.000009521 with a 24-hour trading volume of $700 million. 

The memecoin’s price has largely remained unchanged in the last 24 hours but has dipped by 5% in the last seven days. PEPE ranks 24th on CoinMarketCap’s list of top cryptocurrencies by market capitalization.

The memecoin ecosystem continues to grow
The broader memecoin ecosystem has grown significantly since the world’s first memecoin launched in December 2013. The memecoin frenzy has benefited network platforms such as Solana.

Most memecoin activity on the Solana blockchain has occurred around Solana’s DeFi protocols.

#PEPE #Memecoins #Bitcoin #BinanceBlockchainWeek #BTCBreak71K $PEPE $DOGE $BTC

XRP Lawsuit: Cofounder of Ripple Talks About Confidential Meetings with Harris’ Team

Ripple co-founder Chris Larsen believes that Vice President Kamala Harris could play a pivotal role in correcting what he sees as significant missteps in President Biden’s cryptocurrency policy. 

In a recent interview with CNBC, Larsen criticized the current state of U.S. crypto regulation, describing it as a misguided “war on crypto.”

As part of his support for Harris’s campaign, Larsen made a contribution of $10 million worth of XRP, marking him as a significant player in the crypto space in this election cycle.

He expressed enthusiasm for Harris’s economic message, which he sees as pro-innovation and supportive of American leadership in global industries.

“We’re really excited by her economic message. It is a message now of pro innovation, and making sure that our American champions dominate their industries around the world,”

he said.

He said that the Biden campaign wasn’t paying enough attention. He said that there are many meetings happening with individuals who will be part of her administration, not just focused on crypto. 

“There’s been a lot of meetings with folks who will be in her administration, and not just within the crypto industry. Consistently, what they’ve heard is that the last administration was too anti-business and involved a sort of class warfare. That’s not how it will be in a Harris administration,”

he explained.

Larsen Criticizes Gary Gensler
Larsen also took the opportunity to criticize SEC Chairman Gary Gensler, calling him “the worst public servant in this country.” This statement explains the growing tension between crypto leaders and regulatory bodies.

Gensler’s stringent regulatory approach has drawn criticism for prioritizing enforcement over clear guidelines, creating an environment of uncertainty for crypto businesses.

#US #SEC #Bitcoin #BinanceBlockchainWeek #BTCBreak71K $BTC $ETH $BNB

This Crypto Trader Makes a Shocking SUI Price Prediction

Sui (SUI) has seen renewed attention as trader Alex Clay highlights a bullish outlook for the crypto. In a tweet, Clay noted SUI’s retest of the neckline from a Cup and Handle formation, indicating a possible upward trend.
 
With this retest suggesting stability, Clay projects ambitious price targets for Sui. Meanwhile, reports suggest that SUI has led in net inflows, reflecting heightened investor interest. 

Bullish Pattern for SUI: Cup and Handle Formation
The SUI chart reveals a classic Cup and Handle pattern, widely recognized as a bullish continuation signal. In this setup, a rounded bottom forms the “cup,” while a consolidation phase forms the “handle.” 

Such a formation often indicates an impending breakout, suggesting that bullish momentum is building. SUI recently broke above its $1.98 neckline, with a successful retest marking the start of its upward journey.

The breakout’s validation lies in the completed retest of the $1.98 neckline, where SUI’s price established support, strengthening its bullish potential.

According to Clay’s analysis, this successful retest enhances confidence in the upward trend, as support levels often solidify buyer interest, potentially driving the price toward higher targets.

Price Targets and Potential Gains
Alex Clay’s tweet details two major price targets based on the Cup and Handle formation.

The initial target, set at $6.90, reflects the height of the handle, suggesting this level as an attainable short-term goal for SUI traders. 

The full formation height points toward a potential price of $9.60, marking a longer-term upside if SUI price sustains its momentum. These targets are marked on Clay’s chart with clear indicators, helping traders identify potential profit-taking levels. 

The successful retest has positioned $1.98 as a solid support zone, essential for a sustained upward movement.

#SUI #SUI🔥 #BinanceBlockchainWeek #BTCBreak71K $SUI $BTC $SOL

Will Cardano Price Hit ATH? Analyst Says “Not the Time to Sell” ADA

Cardano price faces renewed selling pressure as Bitcoin retreats, but analysts suggest it may not be the time to sell. 

This week, the crypto market witnessed renewed selling pressure as Bitcoin price reverted from the $70,000 psychological level.

The altcoin market quickly followed the same momentum and sparked a fresh correction for major digital assets, including Cardano price. However, crypto analysts believe this may “not be the time to sell ADA,”

During Friday’s Asian market session, the ADA price fell 0.8% to $0.34, while its market cap plummeted to $12 Billion. The Cardano buyers’ retesting support from a bullish pattern signals the potential for price reversal amid bullish on-chain indicators.

Cardano Price Set for ATH? Analyst Says “Not the Time to Sell” ADA

In a recent tweet, crypto analyst Deezy.eth. highlighted a recurring pattern in Cardano price that led to a major recovery trend in the following months. The attached image shows a 3-day Heiken Ashi candle with the Relative Strength Index (RSI) momentum indicator.

The analyst discovered that the ADA price, often at the bottom of a downtrend, witnessed a higher formation in the RSI slope. Generally, this bullish divergence signals the buyers reentering the market at a discounted rate, which could drive a renewed recovery trend.

Historical data from December 2018 and March 2028 shows a major reversal following RSI divergence, with one leading to the current ATH of $3.1.

Moreover, Cardano is making waves with its integration into the Bitcoin ecosystem via BitcoinOS (BOS), unlocking over $1.3 trillion in Bitcoin liquidity for its DeFi landscape. This collaboration leverages BOS’s Grail bridge, enabling secure, trustless BTC transfers using zero-knowledge (ZK) cryptography.

#ADA #Cardano #BinanceBlockchainWeek #USJoblessClaimsDip #CryptoPreUSElection $ADA $BTC $SOL

Institutional Inflows Power Bitcoin Surge Ahead Of US Elections

In a staggering display of institutional confidence, Bitcoin’s spot ETF market witnessed a net inflow of $294 million on Monday, marking the seventh consecutive day of robust inflows.

This surge in institutional interest is propelling Bitcoin's price back to an upward trajectory, with BlackRock's IBIT ETF leading the charge, recording an impressive $329 million in inflows, as reported by Benzinga.

While other major players showed mixed results—Fidelity's FBTC ETF saw a modest inflow of $5.9 million, and VanEck's HODL ETF experienced an outflow of $7.6 million—the overall trend remains decidedly bullish.

The demand for spot Bitcoin ETFs, particularly in the United States, has emerged as a primary catalyst for Bitcoin's recent price rally.

CryptoQuant CEO Ki Young Ju reports that American institutions have acquired a staggering $13 billion worth of spot Bitcoin ETF shares since January.

Analysis of Form 13F filings reveals that 1,179 institutions have amassed 193,064 BTC in just 10 months, underscoring the magnitude of institutional adoption.

This influx of institutional capital is not occurring in a vacuum. The funds driving these inflows are, in turn, fueled by retail investors, creating a symbiotic relationship that's propelling the cryptocurrency market to new heights.

As institutional players increase their Bitcoin holdings, it's fostering greater confidence among individual investors, further amplifying the market's upward trajectory.

Interestingly, the current Bitcoin surge is coinciding with heightened political speculation surrounding the upcoming U.S. elections.

Bitfinex analysts, in their October 21 market report, noted growing speculation about a correlation between Bitcoin's price action and Donald Trump's election odds.

#TRUMP #USJoblessClaimsDip #EthereumPectraUpgrade #Bitcoin $ETH $XRP $BNB

Is Sui Price Preparing for Another Massive Surge to ATH?

Sui (SUI) price has recently experienced a significant rise, attracting attention amid a struggling cryptocurrency market. Despite facing a downturn over the past week due to market corrections, the overall sentiment remains optimistic.

As market optimism grows, some speculate that SUI may set the stage for a strong rally, possibly eyeing a return to its all-time high (ATH).

On Thursday, crypto price stirred global investor speculation once again. Bitcoin (BTC) held steady at the $67,000 mark, while ETH, Solana SOL, and DOGE displayed varied price movements.

This mixed performance across major cryptocurrencies has led to diverse market reactions, with some tokens showing resilience and others facing volatility.

Sui Price Nears ATH After a Bullish Spike

Sui price surged by an impressive 23% last month, with momentum extending into October. On October 14, 2024, SUI nearly reached a new all-time high, climbing to $2.36. However, the price has since experienced a 15.15% pullback from this peak. 

Despite the decline, the overall performance indicates strong market support, and investors remain optimistic about future movements as SUI continues to demonstrate resilience in the crypto market.

Sui price has been on an upward trajectory over the last 24 hours. At the time of this report, the value of Sui is trading at $2.00, reflecting a 5% increase for the day. The coin is approaching a critical resistance point at $2.1, which could serve as a key level for further price movements. 

If the market conditions remain favorable, Sui could soon challenge this resistance, potentially targeting a high of $2.18. Reaching this level would match its all-time high (ATH) and result in an impressive 17% increase from its current price. If bullish momentum persists, layer 1 could reach $2.50 in the near term.

#SUI #USJoblessClaimsDip #USJoblessClaimsDip #EthereumPectraUpgrade $SUI $ETH $BNB

Will Cardano Price Hit New ATH $14 as Founder Says “ADA Will be Bigger Than BTC”

Cardano price could soar 4,000% to $14 as founder claims ADA will surpass Bitcoin, with potential adoption from 45 million users.

Cardano price could break free from its extended consolidation after Cardano Founder Charles Hoskinson said ADA would be ‘bigger then BTC’ in the recently concluded summit in Argentina.

This statement has fueled speculation and enthusiasm among investors who wonder if Cardano could reach new all-time highs.

Technical analysis shows that the ADA price could surge to such heights, as price action seems to repeat a key historical pattern. The ADA price hovered around $0.3466 on October 24 after dropping 4.8% in the last 24 hours.

Despite the decline, technicals suggest Cardano is still bullish, as analysts call for a $0.80 -$1 target for December. The predictions are pegged on the success of Bitcoin’s price breaking its all-time high and surging to $80,000-$100,000 within the same duration. 

Can Cardano Price Outperform Bitcoin?

According to Hoskinson, Cardano has the potential to outperform Bitcoin as it already has the largest developer network of all other crypto networks. However, without outside help, ADA has almost zero chance of becoming bigger than Bitcoin because the latter has more users. 

According to Santiment, Cardano had 24,031 active addresses as of October 23, with an average of 28,261 users over the last four months. This figure is small compared to other major blockchain networks like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP (XRP).

However, if the Cardano network were to bolster its user base, the price would automatically skyrocket. 

While in Argentina, Hoskinson met with President Javier Milei to discuss blockchain’s potential to revamp Argentina’s economy.

#ADA #Cardano #USJoblessClaimsDip #EthereumPectraUpgrade #EthereumPectraUpgrade $ADA $ETH $BNB

India Mulls Crypto Ban, Considers CBDC Adoption

India is considering adopting Central Bank Digital Currency (CBDC) in place of a possible ban on private cryptocurrencies like Bitcoin.

India is currently weighing a potential ban on cryptocurrencies like Bitcoin and Ether while exploring the adoption of a Central Bank Digital Currency (CBDC), according to reports published on Tuesday, October 22, 2024.

This shift in stance follows government concerns over the risks posed by private cryptocurrencies, as authorities evaluate the benefits of CBDCs, which they believe can provide similar advantages with fewer risks.

India Crypto Ban Talks and CBDC Expansion
The Hindustan Times reported on Tuesday that Indian regulators, after consultations with key institutions, are increasingly leaning toward banning cryptocurrencies.

Although the exact entities involved in these discussions remain undisclosed, officials have indicated that the risks of cryptocurrencies, including stablecoins, outweigh any potential benefits.

“CBDCs can do whatever cryptos do,” one senior official commented. They added, “but without the risks,” underscoring growing support for the digital rupee over decentralized digital assets.

In parallel, the Reserve Bank of India (RBI) has been actively promoting the adoption of its retail CBDC.

Despite these efforts, current transaction volumes—around 18,000 daily—are still well below the RBI’s target of one million by year-end.

The RBI is working on new features, including offline transactions and integrating the digital rupee with the popular Unified Payments Interface (UPI), to boost adoption.

Ajay Seth, India’s Secretary of Economic Affairs, revealed in July that an inter-ministerial group, including key institutions like the RBI and the Securities and Exchange Board of India (SEBI), is working on a policy paper regarding cryptocurrencies.

#ScrollOnBinance #APTSurpassesSUI #XRPDonationsUSElections #INDIA #Bitcoin $BTC $ETH $BNB

Solana Price Prediction: Will SOL Break Above $200?

After an impressive breakout last week, Solana (SOL), a rapidly growing layer one (L1) blockchain with many decentralized finance (DeFi) protocols, is gaining significant bullish momentum.

Currently valued at about $98 billion, with a daily trading volume averaging around $4.6 billion, this large-cap altcoin has recently retested its support/resistance level above $161, signaling a potential upward movement.

Trading at around $168 at the time of writing, Solana’s price is now just 35% away from its all-time high (ATH).

From a technical standpoint, SOL needs to consistently close above its July 2024 peak of about $190 to prevent a possible retracement to the support level of approximately $120, which has held steady during the past seven months of consolidation.

Why Solana Bulls Remains Undefeated 

At the heart of the Solana network is the vibrant online community of developers and investors. With around 2,223 validators, the Solana network has scaled to over 330 billion transactions since its inception.

In the last 24 hours, the Solana network registered over 7.6 million active addresses, compared to about 350k on the Ethereum (ETH) network.

Driven by increasing demand for Solana’s services, including staking, the total value locked (TVL) in the network has reached a multi-year high of about $6.41 billion. Additionally, Solana’s stablecoin market cap has surged to over $3.58 billion.

DeFi Activity on the Rise

The recent increase in Solana’s DeFi activity can be largely attributed to the meme coin market, which has a valuation of around $11.2 billion and a daily trading volume of about $2.6 billion.

#SOL #Solana #ScrollOnBinance #UptoberBTC70K? #XRPDonationsUSElections $SOL $BTC $ETH

Crypto Markets Erase Weekend Gains as Rising Treasury Yields Dampen Risk Assets

Bitcoin and Ethereum caught a boost over the weekend after the SEC approved options trading for Bitcoin ETFs.

Crypto markets turned sharply lower on Monday, erasing weekend gains fueled by the SEC’s approval of options trading for Bitcoin exchange-traded funds (ETFs).

On Oct. 18, the SEC granted accelerated approval to 11 spot Bitcoin ETFs to list and trade options on the New York Stock Exchange (NYSE). This move gives investors a new way to hedge their exposure to Bitcoin through listed derivatives, potentially boosting institutional interest in the world's largest cryptocurrency.

Bitcoin (BTC) dropped 1.5% to $67,000, while Ethereum (ETH) reversed into the red after trading as high as $2,760. Solana (SOL) rose 4%, while Polkadot (DOT) dipped 3%.

The approval also coincided with a surge in total net flows for the U.S.-based spot Bitcoin ETFs, which crossed the $20 billion mark on Oct. 17, highlighting the growing institutional demand for Bitcoin.

This comes as Bitcoin dominance, the ratio of Bitcoin’s market cap to the overall crypto market cap, reached 58%, its highest level since April 2021. The global crypto market cap is $2.3 trillion, with Bitcoin alone accounting for $1.34 trillion.

BTC ETF Inflows Remain Strong
Spot Bitcoin ETFs have been a significant driver of market sentiment this week, with consistent inflows.

On Oct. 19, Bitcoin ETFs logged $203 million in inflows, marking a six-day winning streak.

The combined value of Bitcoin held by twelve funds stands at $66.1 billion, surpassing the previous record of $62.6 billion set in early June, according to SoSoValue data. This figure now represents 4.89% of Bitcoin's total market cap.

“With the SEC’s approval for BTC ETF options to be listed on the NYSE, we believe this will provide the ETF with the needed liquidity to attract sustainable inflows,” QCP Capital analysts wrote.

#UptoberBTC70K? #SCRSpotTradingOnBinance #APESurge #Bitcoin #BTC $BTC $ETH $BNB

Bitcoin dominance surges to 58% as ETF as institutional inflows continue

This week has been a pivotal one for the crypto world, with Bitcoin (BTC) experiencing a notable surge of 10.48%, peaking at $69,000.

As it approaches the significant psychological threshold of $70,000, there’s a sense of optimism among investors, especially since no major economic reports are anticipated to hinder its progress in the coming week.

A key driver behind Bitcoin’s impressive rally was the recent approval by the U.S. Securities and Exchange Commission (SEC) for Bitcoin ETF options to be traded on the New York Stock Exchange (NYSE).

This move is expected to enhance liquidity for the ETF, drawing in more stable investments.

Over the week, Bitcoin ETFs attracted substantial inflows, culminating in a total of $203.3 million in assets by Friday, marking a successful six-day streak. The ongoing institutional interest is evident from these consistent inflows, as highlighted by QCP broadcast.

Additionally, Bitcoin’s market dominance has climbed to a multi-year high of 58%, a level not seen since April 2021. As it nears the 60% resistance mark, analysts predict a potential rebound for layer 1 (L1) coins, which have not kept pace with Bitcoin’s gains.

Ethereum (ETH), in particular, is viewed as primed for a rebound, currently sitting 45% below its all-time high, while Bitcoin is just 7.9% away from its peak.

#MemeCoinTrending #WhichMemeCoin? #SCRSpotTradingOnBinance #USRetailSalesBoost #BinanceLabsInvestsLombard $BTC $ETH $SOL

PEPE Price Sees Breakout And Retest: Could It Gain 60% in 2024

Pepe (PEPE) crypto has witnessed slow and steady growth over a wider time frame. Since June, the PEPE price has declined due to resistance from a descending trendline.

Additionally, the price triggered a breakout from the trendline, and a retest was observed. During the retest, it smashed the key moving averages.

After the retest, the momentum has slowed, holding over the 20-day exponential moving average (EMA). It needs substantial volume to trigger a bullish momentum for a more extended period. Let’s see how the PEPE crypto price performs after the breakout.

Could PEPE Price Trigger Another Breakout?
Crypto Bulls God (@CryptoBullGod) is optimistic about the PEPE price. He holds the belief that the PEPE coin might be beneficial for the future.

He claimed that the price action might repeat history as it has formed another symmetrical triangle pattern weekly. If it triggers a breakout, another bullish momentum can be seen.

Technical Analysis of PEPE Price Over 1-D Timeframe
Pepe crypto was trading at $0.0000103, which has dropped by 2.37% over the past 24 hours. The market capitalization was $4.36 Billion, and the 24-hour trading volume was $488.77 Million.

The bearish trend halted in August, and the momentum slowly shifted toward the buyers’ hands. Since August, the price has been continuously pushed down by the downside. Moreover, the price has departed from the 200-day EMA.

If the digital asset price surpasses the last swing high, it could generate a bullish signal.

Suppose the PEPE coin price manages to sustain over the $0.0000130 hurdle; strong buying momentum can be seen. If the trading volume remains strong, the price has the potential to gain 60% in the next few months.

On the other hand, if the PEPE price doesn’t gain momentum, sellers could dominate soon. Suppose the crypto price starts trading below the 200-day EMA; sellers may dominate further.

#pepe #Pepecoin #MemeCoinTrending #WhichMemeCoin? #WhichMemeCoin? $PEPE $BTC $BNB

Why Is The ApeCoin Price Up 100% Today?

ApeCoin (APE), a fundamental asset within the Yuga Labs ecosystem, has witnessed a remarkable price surge of over 100% today. This increase in value is attributed to the recent launch of new technological advancements and incentive programs that will enhance user engagement and expand utility across its network.

ApeCoin Price Skyrockets Due to LayerZero Integration
ApeCoin has recently upgraded its smart contract to integrate with Layer Zero’s Omnichain Fungible Token (OFT) standard. This development allows APE to function as a utility and governance token and as the native gas on its blockchain, ApeChain. 

More so, the integration ensures that APE can transfer across ApeChain, Ethereum, and Arbitrum. This sets a new standard for token interoperability and functionality.

Moreover, the introduction of a Native Yield mechanism, developed in collaboration with Decent.xyz, is another notable enhancement. It enables ApeCoin holders to automatically earn yields on their tokens without manual intervention. 

This feature is the default for all externally owned accounts (EOAs), where yields accrued are added directly to the user’s balance with each new block.

Market Response and Liquidity Boost

The market has responded positively to these updates, with ApeCoin’s trading volume surging over 6,400% to reach $1.84 billion. The positive market response and ApeCoin price surge is reflected in its market cap, which has crossed the $1 billion mark increasing over 100% in 24 hours. 

In addition, the liquidity on ApeChain has been boosted by the introduction of bridges that facilitate the migration of APE, ETH, and various stablecoins between networks. This capability has enhanced the fluidity of asset movement, attracting both developers and investors to the ecosystem.

Similarly, ApeChain’s performance since the update has been impressive, with over $25 million in volume traded within the first 12 hours.

#Apecoin #APE #MemeCoinTrending #WhichMemeCoin? #SCRSpotTradingOnBinance $APE $BTC $BNB

SOL Overtakes ETH As Analyst Forecasts Solana Price To Hit $1,400

SOL has overtaken ETH in weekly and daily DEX volume as crypto analyst Titan of Crypto predicts that the Solana price can reach $1,400.

Solana has overtaken Ethereum in weekly and daily DEX volume, a development that has further strengthened predictions that SOL could flip ETH or challenge its dominance in this cycle. Interestingly, crypto analyst Titan of Crypto has predicted that the Solana price can rise to as high as $1,400 in this bull run.

Solana Overtakes Ethereum In DEX Volume

Artemis data shows that the Solana network has overtaken Ethereum in weekly and daily decentralized exchange (DEX) volume to rank number one above all chains. Solana has witnessed a trading volume of $8.6 billion in the last seven days and $1.3 billion in the last 24 hours. At the same time, Ethereum has come in second place with a weekly trading volume of $8.2 billion and a daily trading volume of $772 million.

This metric tracks the trading volume witnessed on all DEXs on these networks. Therefore, this development is significant as it indicates that Solana is generating more user interest than Ethereum. Such fundamentals are also bullish for the Solana price since this sustained trend could help trigger rallies for the crypto.

This development has also fuelled further conversations that Solana could flip Ethereum or challenge its dominance in this market cycle.

Ethereum is known to boast the top DeFi protocols, a narrative that boosted the ETH price during the 2021 bull run. However, with that narrative looking to change, SOL could easily be the runner in this cycle and threaten ETH’s position as the second-largest crypto by market cap.

Analyst Forecasts SOL To Hit $1,400
Crypto analyst Titan of Crypto has predicted that the Solana price can reach $1,400. The analyst explained that a “massive Bull Flag” might be unfolding for SOL in the coming weeks and months, which indicates that the crypto could reach this price level.

#Solana #SOL #Ethereum #MemeCoinTrending #BTCBreaks66K $SOL $ETH $BTC

Ethena Labs Proposes SOL for a Stronger USDe Foundation

Ethena Labs, the creator of the synthetic stablecoin USDe, has proposed the inclusion of Solana (SOL) as a new collateral asset in its treasury. 

Unlike traditional stablecoins such as Tether’s USDT or Circle’s USDC, USDe operates as a synthetic stablecoin, meaning it is not backed by fiat currency at a 1:1 ratio. Instead, USDe maintains its $1 value by collateralizing various stablecoins and utilizing a hedged cash-and-carry trade strategy. 

This involves taking futures positions with substantial open interest, helping stabilize its value while a reserve fund manages risks in changing market conditions.

If approved by Ethena’s independent Risk Committee, SOL will be gradually integrated into USDe’s collateral framework, with an initial allocation target of $100-200 million. This amount would represent about 5-10% of SOL’s open interest, mirroring USDe’s existing stakes of 3% in Bitcoin (BTC) and 9% in Ethereum (ETH).

Additionally, the proposal includes the potential use of liquid staking tokens (LSTs) like BNSOL and bbSOL, similar to Ethena’s current approach with ETH LSTs, which constitute one-third of its ETH holdings.

Recently, Ethena Labs allocated $46 million of its USDe reserve fund for tokenized real-world asset investments in various projects, including BlackRock’s BUIDL, Mountain’s USDM, Superstate’s USTB, and Sky’s USDS. This aligns with the growing trend in decentralized finance (DeFi) toward generating yield from asset-backed tokens. 

#Altcoins #ENA #Ethena #moonbix #MemeCoinTrending $ENA $BTC $ETH