Polygon (MATIC) Retests the Range ..Price prediction for MATIC

Over the past 24 hours, MATIC has tanked about 12.5% from highs of around $1.04 to lows of around $0.91, trading below the keenly watched $1 price point for the first time since March 5.

At the time of writing, the asset remains below the $1 price point but has rebounded from the lows to trade around $0.95. How far this momentum can go remains to be seen. Still, the price action follows a TD sequential buy signal highlighted by prominent crypto analyst Ali Martinez on the asset’s 4-hour candle chart.

Zooming out to focus on MATIC’s weekly candle chart shows that the asset is retesting the multi-month range between $0.75 and $1, which it broke out from at the end of February 2024. 

How the current weekly candle closes will likely confirm whether the recent price drop is a healthy bull market correction or the beginning of a prolonged market downturn.

A close of the candle above the range, signaling a rejection, could foreshadow a move to fresh highs after a clear retest. However, a close of the candle below the former range high could see MATIC’s price chart a path to lows to around $0.75.

The fierce battle between bulls and bears could see MATIC’s price tightly range over the next few days as the market participants struggle for dominance. 

#HotTrends

Polygon (MATIC) Back Below $1, Just a Healthy Correction?

Polygon’s MATIC is back below the $1 price level.
The asset appears to be retesting a multi-month range.
MATIC’s recent price drop follows a market-wide correction.
After a whirlwind run in recent weeks primarily led by excitement around inflows to spot Bitcoin ETFs and, most recently, the Ethereum Dencun upgrade, Polygon’s native token MATIC, like the rest of the crypto market, appears to be slowing its roll. 

After running to yearly highs at $1.29 moments after the Dencun upgrade, the price of MATIC has tanked sharply and is trading below the $1 price point for the first time in two weeks.

Could this be the beginning of a prolonged downturn, or is it just a healthy correction

#HotTrends #MATIC

#HotTrends BlackRock Unveils ‘BUIDL’ Tokenized Asset Fund on Ethereum—With $5 Million Buy-In

”We are focused on developing solutions in the digital assets space that help solve real problems for our clients,” the firm said.

After leaving financial and crypto market watchers reading tea leaves to divine its next big move, investment titan BlackRock spilled the tea late Wednesday on its tokenized asset fund. Dubbed ‘BUIDL,’ it will be built on the Ethereum network and is the company's first tokenized fund issued on a public blockchain.

The BlackRock USD Institutional Digital Liquidity Fund was first registered in the British Virgin Islands last year.

“BUIDL will offer investors important benefits by enabling the issuance and trading of ownership on a blockchain, expanding investor access to on-chain offerings, providing instantaneous and transparent settlement, and allowing for transfers across platforms,” BlackRock said in its announcement.

How Much Has the Ethereum Dencun Upgrade Cut Layer-2 Gas Fees?

The Dencun upgrade has made gas fees on many Ethereum layer-2 networks near-zero. But it has yet to peel users away from the costly mainnet.

Heralded by Ethereum developers as the technical milestone they’d been “dreaming of,” last week’s Dencun upgrade was supposed to forever alter the Ethereum ecosystem—by making transactions on its layer-2 networks exponentially cheaper and thus more accessible.

One week later, how do things stand?

On the whole, Dencun has delivered exactly as promised. Across layer-2 networks that have already integrated the software update, gas fees have plummeted to unprecedented lows, in most cases by over 90%.

At writing, median transaction fees on layer-2 networks Arbitrum, Starknet, Optimism, and Optimism-based chains Base and Zora have all fallen to one cent or below, according to data from Dune and Ethereum analytics platform Grow The Pie. That’s a 91% to 95% drop in cost for each of those networks.

#HotTrends #Arb #Eth #STRK

BlackRock Launches Its First Tokenized Asset Fund on Ethereum

BlackRock has announced its first tokenized asset fund called 'BUIDL,' which will be built on the Ethereum network. The fund aims to provide investors with benefits such as on-chain offerings, transparent settlement, and transfers across platforms. Bank of New York Mellon will serve as the custodian of the fund's assets, while Securitize Markets will act as the transfer agent.

#HotTrends #ETH

Hopes of a spot Ethereum ETF are further eroded as reports emerge that the SEC is investigating the Ethereum Foundation.

A Wednesday report from Fortune revealed that the United States Securities and Exchange Commission (SEC) has opened an inquiry into the Ethereum Foundation. The report shows that the Wall Street top regulator is looking to classify the network’s native coin, ETH, as a security.

A February 26th post on the Ethereum Foundation’s Github repository further confirms the investigation. According to the Swiss non-profit organization’s website, it is facing a voluntary inquiry from a state authority that includes a requirement for confidentiality.

Ethereum Foundation Under the Microscope
According to a person familiar with the situation, the SEC started investigating the Ethereum Foundation shortly after the Merge, an event that saw the network switch from Proof of Work (PoW) to Proof of Stake (PoS) in September 2022.

The people familiar with the subpoena noted that the SEC saw the switch as an avenue to classify Ethereum as a security. The persons, who pleaded that they conceal their identities, further revealed that the US top regulator had sent the Swiss-based firm several investigative subpoenas in recent weeks.

Notably, the Ethereum Foundation has gone against its commitment not to conceal any external investigation from state authorities. The footer on its website states thus:

“The Ethereum Foundation (Stiftung Ethereum) has never been contacted by any agency anywhere in the world in a way which requires that contact not to be disclosed. Stiftung Ethereum will publicly disclose any sort of inquiry from government agencies that falls outside the scope of regular business operations.”

The ongoing investigation might have hampered the hopes of the SEC approving a spot Ethereum exchange-traded funds (ETF) by the widely expected May 23. If the question of ETH being a security persists, the SEC will postpone or deny Ether ETF products.

#HotTrends #ETH

XRP triggers 125% volume surge amid market crash

Despite the tumultuous conditions the crypto market is currently going through, XRP has ignited a 125% increase in trading volume. Per data provided by CoinMarketCap, yesterday, XRP showed 138% growth in 24-hour trading volumes, totalling $3.96 billion.

The surge in XRP trading volume emerged during a critical time for a crypto market marked by steep drops in the value of the major digital assets, drawing the attention of both investors and analysts.

There are several factors that could have caused the spike in XRP's volume, however, the exact reason remains unknown. First, it could be investors taking advantage of lower prices in anticipation of a possible recovery. Second, the increased activity may indicate a resurgence of interest in XRP, even though the general market is experiencing a crash

#HotTrends #BOME #SLERF #xrp

Solana (SOL) Impressive Growth and Adoption

The weekly price of Solana (SOL) has surged, ranging between $132 and $185, marking a notable increase of 14.02%. Presently, Solana is experiencing significant traction, with almost $4 billion in Total Value Locked (TVL) and a stablecoins market cap of $2.6 billion.

The introduction of Bilshare (BILS), an Israeli Shekel-backed stablecoin, on the Solana blockchain has garnered investor interest.

Despite the optimism surrounding Solana’s bullish uptrend, caution is advised as the Relative Strength Index (RSI) stands at 80.50, indicating that Solana (SOL) may be overbought and vulnerable to a potential reversal.

Traders are encouraged to exercise prudence and implement tight stop-loss orders to protect profits amidst market volatility.

#HotTrends #BTC #Sol

Can Solana Break the Golden Ratio Resistance at $170?

Solana (SOL) is nearing the golden ratio resistance at $170, with the potential to retest its ATH of $260 if breached.

Bullish signals include MACD histogram uptrend on monthly chart and strong support against BTC at 0.382 Fib level.

However, bearish indicators such as potential rejection at $170 and bearish MACD on daily chart suggest mixed signals

Solana is nearing the golden ratio resistance at approximately $170, with only about a 10.6% gap to bridge. A breakthrough at this crucial level could begin a new bullish cycle for Solana, potentially leading it to retest its all-time high (ATH) of around $260.

Additionally, the Moving Average Convergence Divergence (MACD) histogram indicates an upward trend on the monthly chart, with the MACD lines in a bullish cross and the Relative Strength Index (RSI) in overbought territory. Notably, there are no signs of bearish divergence or other bearish signals at this time.

#Write2Earn‬ #HotTrends #Sol

Dogwifhat (WIF) Price on Fire: Is $10 the New Target?

In the bustling world of cryptocurrency, Dogwifhat (WIF) has become the talk of the town. Surging by nearly 40%, it has soared to the $3 mark, capturing the attention of eager investors. But is this just a fleeting pump, or is WIF on the cusp of something bigger?

With crypto legend Arthur Hayes predicting a staggering $10 future, excitement is at an all-time high. Dive deeper to find out what’s driving this meme coin’s meteoric rise and whether you should join the frenzy.

The Story Behind It All
Born from a meme featuring a Shiba Inu sporting a pink beanie, WIF launched in December 2023, quickly winning hearts within the community. Supporters rallied, raising over $690,000 to showcase the furry mascot on Las Vegas’ iconic Sphere. Surpassing expectations, funds poured in, lighting up the night with WIF’s emblem.

As Bitcoin climbs to new heights, crossing $73,600, meme coins like Dogwifhat are enjoying their moment in the sun. From a humble $0.0047, WIF has skyrocketed by a staggering 55,000%, echoing the broader success of meme currencies.

Also Read: Are Memecoins the Next Big Thing? PEPE, WIF, and BONK Breaking Every New All-Time Highs!

What’s Driving the Surge?

WIF’s rise mirrors the broader trend in meme coins, with smaller players like PEPE and BONK also making waves. With trading volumes soaring, the meme coin market is abuzz with optimism.

A combination of factors is fueling the frenzy. Bitcoin’s resurgence has injected newfound confidence into the crypto market, propelling meme coins to the forefront of investor interest.

#HotTrends #WIF #Write2Earn

Bitcoin Could Drop to $58K as Cool-Off Period Is Imminent, Swissblock Says

Bitcoin nearly doubled in price since late January, but a "counter move seems to be near," Swissblock analysts said

Bitcoin's rally shows waning momentum, underscored by a negative divergence between its price and the RSI momentum indicator, Swissblock analysts noted.
BTC could drop as much as 20% from current prices in the near term, but the uptrend will resume Swissblock forecasted.

Bitcoin (BTC) has been climbing ever-higher over the past month, notching new all-time highs on the way with every dip bought up quickly, but the largest crypto may be poised for a cool-off phase, analysts warned.

Digital asset analytics firm Swissblock said in a note on Wednesday that bitcoin nearly doubled in price from $38,000 in late January without any meaningful pullbacks, and a cooling period could be imminent.

"Nothing rallies in a straight line. Not even BTC," Swissblock analysts said in a Telegram update. "A counter move seems to be near."

Swissblock analysts based their forecast on the negative bearish divergence between bitcoin's price inching higher but dwindling relative strength index (RSI) on the 4-hour chart, foreshadowing lower prices. The RSI is a widely used momentum indicator that measures the speed and size of an asset's price changes.

The pullback could materialize as soon as in the next few days, according to a chart by Swissblock analyst Henrik Zeberg. But, in the bigger picture, lower prices will be a temporary setback before the uptrend eventually resumes to new highs.
"We see BTC dropping to $58,000-$59,000 in the next move," they said, representing a 20% decline from current prices. "But the top is not in."

#HotTrends #Write2earn #BTC

🚨🚨XRP Jumps 20% After Mysterious Binance Transfers as Crypto Rally Expands to Laggards🚨🚨

The action could be a sign of traders rotating some of their capital to tokens that haven't moved yet.

Ripple (XRP), the native cryptocurrency of the XRP Ledger payment network developed by Ripple Labs, advanced over 20% Monday, snapping its downtrend versus bitcoin (BTC) as the crypto rally broadened.

CoinDesk data shows that XRP sharply jumped to $0.74 in a little more than an hour Monday afternoon UTC time, notching its highest price since a very short-lived spike last November amid speculation about a potential

BlackRock-managed XRP ETF. Today's 20% gain made XRP the best-performing asset in the broad-market CoinDesk 20 Index (CD20), which was higher by 5%.

While bitcoin had already broken record highs and some corners of the crypto space such as meme coins and artificial-intelligence (AI) tokens experienced exorbitant gains, XRP had so far been notably absent from the action.

When measured against bitcoin, XRP prior to today's move had slid to a 3-year low, TradingView data shows. Even with this afternoon's big jump, XRP is now only up 17% year-to-date, substantially underperforming BTC's 64% advance and the broad-market CoinDesk 20 Index 54% gain.

XRP's rally could be a sign of traders turning their attention and rotating some of their capital to tokens that haven't moved yet as the rally on digital asset markets broadens.

#HotTrends #Write2earn #Xrp

🚨🚨AMP token price soars as volume spikes but it could retreat soon.🚨🚨

Amp price surged by over 150% on Tuesday.
👉There was no important news from the developers.
👉The surge is likely a short squeeze in the ecosystem.

Ampere (AMP) token price went parabolic on Tuesday, becoming one of the best-performing cryptocurrencies in the market. It surged to $0.017, a 150% increase from its lowest point on Monday. It has jumped by over 1,095% from its lowest point in 2023, giving it a market cap of over $829 million.

It was unclear why the AMP token went parabolic this week since the network has gone through major changes. Earlier this month, the developers announced that they would launch two projects: Ampera and Anvil.

Ampera will focus on digital payments while continuing its collateral for the Flexa ecosystem. On the other hand, Anvil will be the new platform for issuing digital letters of credit and will be governed by the ANVL token. Anvil will be launched in the next few months after coming out of its testing.

One reason for the AMP price jump is that this could be a short squeeze. A closer look shows that it was one of the most trending tokens in key social media platforms like StockTwits and Reddit.

Also, the volume of the token went up sharply. Data compiled by CoinGecko shows that the volume surged to over $111 million on Tuesday, up from $8.6 million on Monday. This was its highest daily volume since February 23rd when it spiked to $156 million.

#HotTrends #Write2earn #Amp

🚨🚨Amp price forecast🚨🚨

Turning to the daily chart, we see that the AMP token price has gone parabolic as it more than doubled in the past 24 hours. As the token rose, it moved above the crucial resistance point at $0.0058, its highest swing on December 11th.

AMP price has also surged above all moving averages, signalling that bulls are now in control. However, its oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have moved to the overbought level.

Therefore, I suspect that the coin will pull back in the next few days as it moves to a profit-taking phase. That drop could see it move to the psychological point of $0.010 before resuming the bullish comeback.

#HotTrends #Write2Earn #AMP

🚨🚨A Bitcoin analyst predicted Bitcoin price to reach $337K, citing strong market indicators and institutional inflows.🚨🚨

Bitcoin's surge to $71K marks another record high amid heightened institutional interest.
Upcoming Bitcoin Halving events and institutional inflows contribute to Bitcoin's bullish sentiment.

A popular crypto analyst has provided a bullish outlook for Bitcoin price as BTC’s meteoric rise continues smashing through the $71,000 barrier, setting yet another record high. Notably, the analyst predicts a staggering high of $337,000 for the flagship cryptocurrency. With optimism soaring and institutional interest intensifying, Bitcoin’s trajectory has investors on the edge of their seats.

Analyst Predicts Bitcoin Price To Hit $337,000
Renowned Bitcoin analyst Willy Woo, managing partner at CMCC Crest, has shared an optimistic outlook for Bitcoin’s price trajectory. Woo’s chart on the X platform illustrates a potential upper-bound model, projecting a remarkable $337,000 peak for Bitcoin.

Notably, he attributes a flurry of factors behind his bullish momentum for Bitcoin. This includes a significant influx of capital into the network as well as the emergence of a full-fledged fundamentals-driven bull market.

However, backing his forecast, Woo emphasizes the Bitcoin Macro Index (BMI), a composite of 17 macro signals, signaling a full-blown bull market. In addition, he highlights the influx of $1.8 billion per day into the network, hinting at strong investor confidence.

However, despite the recent positive momentum, he urged investors to tread cautiously amid the rally. Notably, he warned against potential profit-taking opportunities by the investors, as measured by the Spent Output Profit Ratio (SOPR), suggesting an impending period of consolidation

#Write2Earn #BTC

🚨🚨Mudrex, a U.S.-headquartered crypto investment firm based in India, plans to offer Indian investors access to U.S. spot Bitcoin exchange-traded funds (ETFs)🚨🚨

This will not only enable Indian investors to invest in Bitcoin security via financial giants such as BlackRock and Fidelity but will also help spot Bitcoin ETFs to capitalize on the potential in India.

Mudrex is a 100% compliant with Indian regulations and registered with Financial Intelligence Unit (FIU) of India. It allows users to invest in over 350 crypto and crypto baskets, with actionable insights.

Indian Investors Can Invest in US Spot Bitcoin ETFs
Indian investors can buy crypto ETFs through Indian exchanges or through the Liberalised Remittance Scheme (LRS) route, which will incur a 20% tax collected at source (TCS) on remittance. Mudrex plans to use the route to offer the services.

With $250,000 in a year as a limit in LRS, Mudrex plans to offer the advantage of investing in spot bitcoin ETFs with a minimum investment of $5,000 and a maximum of $250,000. Whereas, when investors use crypto exchanges in India, it involves a 1% TDS on transfer of crypto assets and a 30% tax on profits.

Edul Patel, CEO and co-founder of Mudrex, in an interview with CoinDesk said “We are certainly the first Indian crypto platform to offer this service. The LRS is the tricky part for most people and over there (in the U.S.), because we also have strong banking relationships, we’re able to help users do these transactions in a very seamless way, and that’s why these services are important.”

Patel added that the service will be more valuable to institutional investors. The first four spot Bitcoin ETFs in the plan include BlackRock iShares Bitcoin ETF (IBIT), Fidelity Wise Origin Bitcoin ETF (FBTC), and Franklin Templeton Bitcoin ETF (EZBC).

#HotTrends #Write2Earn

🚨🚨Hong Kong to Capitalize on Spot Ethereum ETF Before the US🚨🚨

The spot Bitcoin ETF applications are currently under processing as 10 financial institutions including Harvest Finance plan to launch spot Bitcoin ETF in Hong Kong. The industry calls for fast action on spot ETFs approval, especially spot Ethereum ETF, reported local media on March 11.

After the United States approved 11 spot Bitcoin ETFs, Bitcoin and crypto adoption gained pace. The net inflow has surpassed $9.5 billion and total assets under management (AUM) exceeded $55 billion. Bitcoin holdings of BlackRock Bitcoin ETF has even surpassed Michael Saylor’s MicroStrategy.

With rising adoption in Hong Kong amid regulatory support, plan to launch spot Ethereum ETF from the U.S. is under intensive preparation. The U.S. SEC delayed BlackRock and Fidelity spot Ether ETF applications recently, with the market experts anticipating approval in May end. Hong Kong seeks to take the lead amid rising uncertainty surrounding Ethereum ETF in the US. Experts said Hong Kong spot ETFs and derivatives and other trading products can be launched as soon as possible.

“The delayed launch of spot ETFs in half a year also means that it will be half a year later for U.S. capital to enter the market. At that time, it will face higher purchase costs and entry points, and will have to bear the risk of being locked in by U.S. capital,” said Weng Xiaoqi, COO of HashKey Group.

#Write2Earn #ETHETFNews #HotTrends

🚨🚨Worldcoin price surges 45% following Sam Altman's OpenAI board expansion announcement.🚨🚨

Altman welcomes new board members, enhancing strategic planning and governance at OpenAI.WLD price hits an all-time high, crossing the $10 mark, amid soaring trading volume.

The Worldcoin (WLD) price has touched its all-time high today with a significant surge of about 46% and crossing the $10 mark. Meanwhile, this remarkable uptick comes amid pivotal developments, including the welcoming of new OpenAI board members by co-founder Sam Altman.

Notably, it was previously seen as well that any developments in OpenAI generally impact the performance of Worldcoin. Besides, Worldcoin’s stance against the recent roadblock in Spain could have also sparked optimism among investors.

Sam Altman, co-founder of Worldcoin and CEO of OpenAI, recently announced the addition of new board members, signaling a strategic shift within the organization. In a recent X post, Altman welcomed new team members to the OpenAI Board, which includes “Fidji Sami, Sue Desmond-Hellmann, and Nicole Seligman”. Besides, he also showed his gratitude towards past OpenAI executives like Bret Taylor, Larry Summers, and Adam D’Angelo.

In addition, the OpenAI CEO also lauded the firm’s CTO Mira Murati, and its President and co-founder Greg Brockman for continuously aiding in the firm’s advancement. Although, while applauding the resilience of the team amid challenges, Sam Altman also acknowledges past mistakes in handling company affairs.

Altman’s transparency and commitment to addressing past errors resonate with stakeholders, fostering a sense of trust and optimism in Worldcoin’s trajectory as well. Meanwhile, the addition of experienced individuals to the OpenAI board enhances strategic planning and governance, further bolstering investor confidence in the project’s long-term prospects

#TrendingTopic #Write2earn #wld

🚨🚨XRP Accumulations Mirror Optimism🚨🚨

According to the data revealed by the blockchain tracker Whale Alert, the aforementioned amount was accumulated in four noteworthy whale transactions. Moreover, all these transactions showcased XRP accumulated from Binance, the world’s leading cryptocurrency exchange.

In alignment with this, the first XRP whale transaction recorded 18.40 million coins, worth $11.52 million, accumulated from Binance by an unknown wallet rfQ9EcLkU6…eN47Rk8Cvi. Whereas, the second transaction noted the accumulation of 18.52 million XRP, worth $11.39 million, from the same CEX by the address rarG6FaeYh…gFsPn2bZKk.

Similarly, the third and fourth transactions also illustrated XRP accumulated by Binance. The wallet address rhWj9gaovw…GRbuXFLQkK withdrew 18.46 million XRP, worth $11.45 million, whereas the wallet address rarG6FaeYh…gFsPn2bZKk accumulated 18.43 million XRP, worth $11.51 million, again.

These transactions sparked immense curiosity among crypto market traders and investors globally as they rode a bullish market sentiment wave, showcasing the whales’ confidence in the asset. However, XRP’s price action today appears to have contrasted this sentiment

#TrendingTopic #Write2Earn #XRP

🚨🚨Uniswap Price Dips 7% As UNI Fees Proposal Rejected With 30M Votes🚨🚨

Uniswap (UNI) crypto caught the eyes of investors on March 9, with a slump in its price, despite a positive momentum in the broader market. Meanwhile, the 7% dip in Uniswap price follows the rejection of a crucial proposal regarding fees. Notably, with 30 million UNI votes opposing the proposal, the decision highlights diverging opinions within the Uniswap community regarding governance and future protocol changes.

Uniswap Community Rejects UNI Fees Proposal
The Uniswap community initiated a voting proposal on March 3, 2024, aiming to amend the Uniswap V3 Factory owner’s role in setting fees. Notably, the proposed amendment sought to empower the DAO to modify the fee mechanism, allowing for greater flexibility and adaptability in response to evolving market conditions.

However, despite the potential benefits outlined in the proposal, the community demonstrated a clear preference for maintaining the current fee structure. With 30.06 million UNI votes cast against the amendment, representing approximately 60% of the total votes, the rejection underscores the community’s cautious approach toward protocol changes.

In addition, the rejection of the UNI V3 Fees proposal highlights the complex dynamics of decentralized governance within the Uniswap ecosystem. While decentralization fosters inclusivity and empowers community participation, it also necessitates consensus-building and compromise to enact meaningful changes

#TrendingTopic #write2earn #uni