Author: NBTC
As Bitcoin trades above $95,000, a cryptocurrency on-chain analyst has highlighted specific technical indicators suggesting that the digital asset can hit the elusive $100,000. This outlook aligns with the Thanksgiving holiday season, which has historically been a foundation for Bitcoin to record price breakouts. To this end, the maiden digital asset has formed a narrowing wedge pattern—a technical setup characterized by converging trendlines that indicate a potential breakout. This pattern places the $99,000 target in sight, according to an analysis by on-chain analyst Ali Martinez in an X post on November 28. Bitcoin’s bounce from key Fibonacci retracement levels around…
Aave, a leading decentralized finance protocol, witnessed a remarkable year amid a host of key milestones. But the Aave (AAVE) protocol, which offers a non-custodial platform that allows users to earn interest on their deposits as well as borrow assets, is eyeing an even “bigger” year in 2025. The DeFi giant shared the outlook in its end of year review on X, noting key milestones such as introduction of Aave 2030 and V4. The proposal for V4 looks at the strategic evolution of Aave across DeFi with improved modularity, reduced governance overhead, capital efficiency and innovative liquidity rollouts. Aave is…
Although Ethereum is currently up by about 46% from the starting point at the beginning of 2024, December has been underlined by a notable correction. This correction saw Ethereum declining noticeably from a $4,000 price point in the middle of the month, and it now finds itself consolidating below $3,400. Crypto analyst Trader Tardigrade recently shared a bullish outlook for Ethereum in light of this consolidation. Particularly, the analyst has projected a surge to $8,000 sometime in 2025. Historical Pattern Says Bullish Trajectory For Ethereum Trader Tardigrade, known for identifying long-term market trends, took to social media platform X to…
DYDX, the native token of the decentralized trading platform dYdX, recorded an impressive rally on Nov. 6 following reports of it being backed by Trump’s newly appointed White House cryptocurrency advisor. The altcoin surged 35% over the past day, hitting a seven-month high of $2.45 on Nov. 6, bringing its market cap to over $1.67 billion. The recent rally positioned DYDX as the leading gainer among the top 100 cryptocurrencies by market cap, ranking 94th according to data from CoinGecko at press time. dydx (DYDX) ‘s price surge also extended its fortnightly gains to over 83% while boosting its monthly…
Jan Happel and Yann Allemann, who go by the X handle Negentropic, recently opined that long-term holders taking profits was one of the key reasons behind Bitcoin’s recent price correction. Earlier this week, the leading cryptocurrency by market capitalization dipped all the way to the $90,000 level before paring some of its recent losses. After recovering from the pullback, Bitcoin is currently changing hands at $95,719 following a 1.5% price increase over the past 24 hours. Notably, the Glasnode founders noted that the profit-taking initiated by the long-term holders of the leading cryptocurrency was less aggressive compared to early 2024.…
Matrixport, a leading crypto financial services provider, shared sentiments on social media stating that Ethereum’s ecosystem activity has remained lackluster following the March 2024 upgrade. Matrixport: Ethereum Faces Uphill Battle for Price Growth Amid Low Ecosystem Activity and Strong Competition This, coupled with persistently low trading volumes, presents significant challenges for Ethereum (ETH) to achieve significant price appreciation in 2025. The decline in Ethereum’s gas fees, a metric typically associated with on-chain activity, highlights the decrease in network usage. Matrixport noted that the sluggish ecosystem activity reflects a slowdown in user engagement and raises concerns about Ethereum’s ability to maintain…
XRP’s price dropped sharply from $2.59 to $2.31 within 24 hours, bringing its market cap down by 12% to $131.42 billion. This decline pushed XRP out of its spot as the third-largest cryptocurrency, falling behind Tether (USDT). Futures trading volume also plummeted from $32 billion to $16 billion, signaling reduced market activity. The decline is largely tied to increased selling pressure and market speculation, potentially influenced by the delay in Ripple’s RLUSD token launch. With this fluctuation, the community is in doubt that RLUSD may impact XRP which is initially planned to operate on Ripple’s XRP Ledger (XRPL). But analysts…
BlackRock’s Bitcoin exchange-traded fund (ETF) has recorded zero inflows for the past two days. Institutional investors have lost their appetite for Bitcoin exposure despite the ongoing bull market in the broader cryptocurrency space. Institutional caution amid market volatility Data from Farside Investors reveals that BlackRock (IBIT) last recorded an inflow on Nov. 25. Since then, the ETF giant has not registered interest from institutional players. This development has shocked many, given that BlackRock’s performance has often supported the ETF market in staying in the green zone. Market trend observers have attributed the decreased interest to market volatility amid the ongoing…
Ethereum (ETH) consolidated near $3,400 on Tuesday, poised to close the year with an approximate 50% return. Ethereum has yielded underwhelming gains compared to Bitcoin and most altcoins ranked in the top 20 tokens by market capitalization The narrative could change in 2025 with catalysts like the upcoming Ethereum upgrade, accumulation by institutional investors, and other market movers. Table of Contents Ethereum gears for Pectra upgrade in 2025 Institutional investors accumulate Ether during dips US based Spot Ethereum ETFs could pass on staking yield Higher adoption among institutions, outside of token utility Technical analysis and targets Ethereum gears for Pectra…
Since the launch of the Solana (SOL)-based Peanut the Squirrel (PNUT), the memecoin has rallied more than 13,000x in less than two months. The mid-cap memecoin, with a fully diluted valuation of about $1.38 billion and a daily average traded volume of about $1.94 billion, gained mainstream adoption following the recent listing on the Binance cryptocurrency exchange. Furthermore, the PNUT token has attracted more than 72k on-chain holders due to the deep liquidity of more than $20 million on different Solana-based DEXes led by Raydium, and Jupiter. Lucky PNUT Trader Exits Via Binance According to on-chain data analysis by Lookonchain,…