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Michael Saylor say: “US Govt. should own the majority of
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🚀 Will Bitcoin’s Rally Continue? Analytics Company Representatives Speak Out Bitcoin continued its upward momentum, climbing for the fourth time in five days as speculators target $70,000 amid growing enthusiasm for the cryptocurrency. The largest cryptocurrency rose 2.9% to $68,898, surpassing the level reached on Wednesday and the highest since July 29. Bitcoin last traded at $70,000 on June 12. “Momentum is strong and the path of least resistance is to the upside given the macroeconomic backdrop,” commented Jaime Baeza, managing partner at crypto hedge fund AnB Investments. Investors have poured more than $1.8 billion into U.S. ETFs holding bitcoin this week, according to Bloomberg data. The investment products were first approved in the U.S. in January, boosting market confidence. Bitcoin reached an all-time high of $73,797 in March, buoyed by optimism about demand for ETFs. However, the price fell more than 30% in early August before the current bull run began. Shiliang Tang, president of leading trading firm Arbelos Markets, noted the strong ETF inflows this week. “There are a lot of options positions, between 68,000 and 71,000, so there could be some short gamma,” he said. As investors flock to the options market, dealers who provide those contracts engage in “gamma hedging,” buying or selling to neutralize their rapidly changing risk. Optimism is also fueled by expectations that the next U.S. presidential administration will be more crypto-friendly, regardless of whether Vice President Kamala Harris or former President Donald Trump win next month. Harris has addressed long-standing complaints from the crypto industry about a lack of regulatory clarity by promising to create a regulatory framework for cryptocurrencies. Trump, meanwhile, has actively supported crypto-focused voters and has ongoing crypto-related projects. #BTC #Bitcoin
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📊 Shiba Inu Price Makes End-of-Correction Pattern For 48% Rally The Shiba Inu price surged 2.7% during Friday’s trading session to reach $0.000018. The bullish narrative is fueled by restoring Uptober rally sentiment as Bitcoin climbs toward $70,000. With the formation of the famous Inverted Head and shoulder pattern, the SHIB price signals the end-of-correction and massive rally ahead. 🔸 Shiba Inu Price Poised for a 48% Rally with the End-of-Correction Pattern Since mid-June, the Shiba Inu price prediction has showcased a sideways trend, struggling to surpass the $0.00002 barrier. However, an analysis of the daily chart displays this consolidation as forming a well-known reversal pattern called inverted head and shoulder. The chart pattern characterized by three troughs indicates the asset witness demand pressure at the bottom support. Amid October’s rally, the SHIB price rebounded from $0.00001552 to $0.0000187, accounting for 21.2% growth, while the market cap surged to $11.04 billion. If the pattern holds true, the Shiba Inu price is poised for another 8% surge to challenge the $0.00002 neckline resistance of the In H&S pattern. Theoretically, this pattern establishes a predetermined target by measuring the distance from the middle trough to the neckline. This measurement is then applied from the breakout point to project the potential upward movement. If the pattern holds true, the SHIB price is set for another 8% surge to challenge the $ 0.00002 neckline resistance of the In H&S pattern. A successful flip above the overhead resistance will accelerate the bullish momentum and set the dog-themed memecoin for a promising 48% rally to hit $0.00003. A potential bullish crossover between the 50-and-100-day EMA strongly supports the narrative of the SHIB price breakout. Trader Attention Shifts to Meme Coins as BTC Targets $70K According to santiment analysis, the meme coins such as Dogecoin and Shiba Inu are drawing the most attention from traders, with social discussion rates reaching their highest levels in five months.
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⭐️ Analytics Company Reveals: These Two Altcoins May Have Hidden Bullish Signs Analysts from cryptocurrency analysis company Santiment discussed the market following the Bitcoin rally in their latest report. With almost the entire cryptocurrency community expecting the Bitcoin price to exceed $70,000, traders are taking risks with high leverage on speculative cryptocurrencies like memecoins, according to analysts. According to analysts, the mention rates of these memecoins on social media platforms have increased to a 5-month high. However, analysts also touched on an interesting detail. According to the data, layer 2 blockchain altcoins such as Arbitrum and Optimism are ignored by the community and their mention rates have dropped significantly. Santiment said that while speculative cryptocurrencies like memecoins have a bit more upside potential, historical data shows that it pays to look where the cryptocurrency community generally doesn’t focus much. According to analysts, community discussion rates for top memecoins like Dogecoin and Shiba Inu have been on the rise since May, while altcoins like Arbitrum (#ARB ) and Optimism (#OP ) are being ignored, which could be a hidden bullish sign.
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🔥 'Solana Killer' Aptos (APT) Celebrates 1.7 Billion Transaction Milestone Aptos (#APT ) is celebrating two years of operations, and the protocol has outlined several of its achievements during this period. The record of 1.7 billion transactions on the blockchain is among its most profound milestones. Multiple achievements on Aptos blockchain In an X post, the popular “Solana Killer” recounted the last two years while highlighting its goals for its third year. Aptos has accumulated over 27.7 million all-time active addresses in this period, reflecting the network's traction. The peak transactions per second value during this time is 13,367. Happy Birthday, Aptos! In just two years, here's what we have accomplished together - 27.7M all-time active addresses - 1.7B all-time transactions - 326M transactions done in a single day - 250 innovative projects that are #builtdifferent and we’re just getting started — Aptos Additionally, the network saw the number of transactions performed on it rise to about 1.7 billion. It also boasts of a record 326 million transactions performed on the network in a single day. Aptos also celebrated the 250 innovative projects on its blockchain and its 149 validator nodes across 22 countries and 47 cities. Its many integrations with top projects and upgrades were not overlooked either. In Q1, 2023, Aptos expanded its ecosystem to welcome the Lava testnet, designed to boost developers innovating on the chain significantly. The layer-1 protocol launched its non-fungible token (NFT) bridge on Wormhole. One of its most recent collaborations was with dWallet Network, a pioneering native multi-chain technology platform. dWallet's proprietary Zero Trust Protocols (ZTPs) were brought in to advance the interoperability and performance of decentralized finance (DeFi) apps. It also enhances Play-to-Earn applications on the Aptos (APT) blockchain.
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📊 3 cryptocurrencies to avoid trading next week “Uptober” is playing out for Bitcoin (BTC) and altcoins, with indicators suggesting crypto’s bull market is back after seven months. Yet, some cryptocurrencies will perform better than others, bearing significant risks that pose a threat that traders should avoid. 🔸 Avoid trading Metars Genesis (#MRS ) next week First, Metars Genesis (MRS) will unlock $15.60 million of 10 million MRS next week, destined to AI Partnership Funding. Metars Genesis is a low-cap cryptocurrency with less than $150 million in capitalization, increasing the relevancy of such an unlock. The 10 million MRS these partnerships could soon sell represents a nearly 12% supply inflation for the token. 🔸 ApeX (#APEX ) ApeX (APEX) is another cryptocurrency that will face a massive supply dilution next week and should be avoided. Notably, the protocol will unlock 9.62 million APEX, worth $14.34 million, in the next seven days. This event represents an even higher supply inflation than MRS, adding 20% new tokens to the circulating supply. On the tokens’ distribution, early investors will receive over one-third of the unlocks, while the team will get the majority. 🔸 Cryptocurrencies to avoid: Solidus Ai Tech (#AITECH ) Finally, the last of the three cryptocurrencies to avoid trading next week is Solidus Ai Tech (AITECH). This project tries to navigate the artificial intelligence (AI) boom dominating all finance markets. For example, Finbold reported how uranium can shine in the commodity market while AI-related stocks are among the most popular investments for 2024. AITECH will add 7.6% more circulating supply to its ecosystem, unlocking 80.18 million tokens worth $8.08 million. However, token unlocks and supply inflation do not necessarily mean a poor future price performance. According to basic economics, an asset’s value—translated into price—is determined by the relation between supply and demand.
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