Author: NBTC
The Bitcoin price is inching closer to the much-coveted $100,000 mark, recently reaching an intraday high of $98,471. Yet, despite this bullish price action, there are some worrying signs for the bulls. According to Glassnode co-founders Jan Happel and Yann Alleman, the cryptocurrency’s momentum is weakening due to underwhelming trading volume. “Even with Bitcoin breaking $97K, volume remains low—critical for short-term bullish continuation,” the analysts noted. Higher volume would be an absolute must for sustaining strong upward momentum. Recently, 10x Research opined that Bitcoin’s uptrend could be nearing its peak after the flagship cryptocurrency formed the “shooting star” candlestick on…
Cardano is gearing up for a significant upgrade, with expectations for the Plomin hard fork in place for January 2025. Intersect, a member-based organization for the Cardano ecosystem, has provided a recent update in this regard. As reported earlier, the governance action for the Cardano mainnet Plomin hard fork was submitted on-chain on Dec. 20. This action marks the end of the beginning for blockchain governance. If ratified, this action will bring full governance, as stated in CIP-1694, to mainnet, ending the technical bootstrapping phase. https://t.co/zILET0RcoT — Intersect (@IntersectMBO) January 8, 2025 Intersect’s most recent update anticipates that the Plomin…
Ethereum (ETH) price has struggled to regain momentum after losing the $3,000 threshold on February 2, remaining below that level ever since. Over the past 30 days, ETH has dropped more than 20%, reflecting ongoing market weakness and uncertainty about its next move. Technical indicators like the DMI suggest a lack of a clear trend, with both bullish and bearish pressures weakening in recent days. Meanwhile, the supply of ETH on exchanges has fallen to its lowest level in six months, which could signal accumulation and reduced selling pressure, potentially setting the stage for a recovery attempt. Ethereum DMI Shows…
Stellar (XLM) is in the spotlight as over 2.9 billion tokens have been exchanged by participants on the cryptocurrency market. This comes after its price slipped below a critical support level of $0.4550. The token, which hit a low of $0.4156 in earlier trading, appears to have pared off some of its losses. XLM’s volatile price movement amid soaring volume XLM attained a height of $0.4675 within the past 24 hours before market fluctuations canceled its previous gains. Over the past week, its upsurge has drawn attention to the coin, which rivals XRP in price movement. The current price movement…
Price of bitcoin shows an upward break out of a falling wedge pattern, which indicates a bullish reversal. Various historical fractals suggest it has the potential just to revisit or even go beyond previous recorded peaks. It is essential to understand that the fate of the cryptocurrency will be influenced by market sentiment and external factors. Bitcoin’s price movement seems to be repeating the previous trend and this view is making observers positive. When the fractals of the current time period are compared with the previous fractals an opportunity of another up move could be expected in the cryptocurrency. This…
The NFT market continues its downward trend even as crypto prices stabilize, with Bitcoin edging up to $97,000 while Ethereum holds steady around $2,688 (see below). Source: CoinGecko The broader crypto market has seen a modest recovery, with the total market cap rising to $3.24 trillion from last week’s $3.13 trillion. New traders show interest despite lower volumes According to CryptoSlam data, NFT (non-fungible token) sales volume has fallen to $112.7 million. That’s a 35.15% decline from the previous week. However, the market has seen a notable surge in participation, suggesting growing interest from new traders despite lower overall values.…
Ethereum whale wallets holding over 10,000 ETH increased by 2.3% in early February, hinting at growing confidence in a price rebound. Over 121,512 ETH valued at $323.4 million moved from exchanges to whale wallets, reducing short-term selling pressure. Technical indicators suggest Ethereum’s bearish trend is weakening, with RSI nearing oversold territory and the MACD histogram showing signs of reversal. Ethereum is trading at $2,700.01, reflecting a 2% increase over the past 24 hours. The latest market movement comes as large-scale investors, commonly known as whales, continue to accumulate substantial amounts of ETH. Analysts suggest this activity could indicate a potential…
A prominent cryptocurrency whale has made waves in the market by depositing a significant amount of $PEPE (Pepe coin) to Kraken exchange in the past 24 hours. This transaction has drawn attention not only for its sheer volume but also for its implications on the broader market. The whale’s actions suggest a strategic approach to capitalizing on short-term price movements, with a potential for further influence on $PEPE’s price in the days to come. This whale deposited another 210B $PEPE ($3.95M) to #Kraken 10 hours ago.• Total offloading in the past 32 hours: 427B $PEPE ($8.45M)• Current balance: 1T $PEPE…
Ethereum price is consolidating above the $2,500 zone. ETH might gain bullish momentum if it clears the $2,700 resistance zone. Ethereum started a fresh decline below the $2,650 level. The price is trading below $2,680 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,690 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent upward move if it settles above $2,700 and $2,735. Ethereum Price Eyes Upside Break Ethereum price started a fresh decline below the $2,800 support zone, like Bitcoin. ETH declined below the…
In a recent development, DePIN Union formally announced its strategic collaboration with IoTeX, an innovative Layer 1 blockchain ecosystem to transform decentralization. This partnership will seek to connect the real and the virtual dimensions using IoTeX’s safe, integrated, and distributed solutions. Promoting Innovation in the DePIN Ecosystem The continuous improvement of solutions and the development of a decentralized physical infrastructure network (DePIN) have made IoTeX one of the most prominent representatives. Combining their experience with the mission of DePIN Union, which focuses on the development of decentralized structures, everyone contributes to making changes. As stated in the press release, this…