Coin overview
ATH
Ended--
Last price (USDT)
301.74K
24h total (USDT)
1.14M
Total vol (USDT)
2024-06-05 08:00:00 ~ 2024-06-12 09:30:00
Trading time (UTC+0)
2024-06-13 04:00:00
Delivery time (UTC+0)
Total supply42.00B
Resources
Introduction
Aethir is the only Enterprise-grade AI-focused GPU-as-a-service provider in the market. It’s a decentralized cloud computing infrastructure that allows GPU providers (containers) to meet Enterprise clients who need powerful H100’s chips for professional AI/ML tasks. Aethir also support cloud gaming clients with their virtual computing phones and GPU's with contracts with the world’s largest telecommunication company. Everything within Aethir ecosystem will be decentralized and community-owned.
MicroStrategy Announces Shareholder Vote on Increasing Bitcoin Holdings
MicroStrategy plans to raise capital and align leadership with its Bitcoin strategy. The company’s stock is down despite its large Bitcoin holdings. MicroStrategy, a business intelligence company, revealed its plan to hold a special meeting with its shareholders to approve some proposals that seek to strengthen the company’s Bitcoin-centered approach under its proposed “21/21 plan.” The company is enhancing its financial freedom and synchronizing the directors’ remuneration as it concentrates on acquiring more Bitcoin and related endeavors. Proposals to Expand Capital-Raising Capacity As of 31 December 2014, the authorized number of Class A shares was 330 million, but the firm is asking for the green light to issue up to 10.33 billion. That would greatly improve MicroStrategy’s prospects for financing potential future investments such as extra bitcoin purchases, adding to its strengths. Also, it has been recommended that the company increase its authorized preferred shares from 5 million to 1.005 billion. The message for the firm is clear. By expanding its sources of funds, the company will be able to sustain its torrid pace of buying Bitcoin while considering other strategic, long-term goals. MicroStrategy has prepared and suggested changes to the 2023 Equity Incentive Plan to continue this Bitcoin-centric strategy. Such changes include vesting equities to the new directors to remind the company of the vision set for Bitcoin investment and expansion. MicroStrategy’s Bitcoin Holdings and Impact on Valuation MicroStrategy now owns 439,000 Bitcoins, which are equivalent to about $42 billion at their current price. This means it is amongst the largest owners of Bitcoin in the world, behind only Satoshi Nakamoto, BlackRock’s Bitcoin ETF, and Binance . This shift in the company’s main focus to Bitcoin in 2020 has seen its valuation increase 80 times, with its current market capitalization potentially hitting $82 billion. Executives at the firm, including the co-founder and executive chairman, Michael Saylor, have maintained high levels of support for the Bitcoin strategy, citing its ability to deliver higher growth rates in the future. Stock Performance Amid Bitcoin Volatility MicroStrategy’s stock (MSTR) has fallen for some time, even though it is featured in the NASDAQ 100 Index. On Monday, the stock fell 8.78% to $332, down 19% on the week and 17.65% on the month. From its high of $472 in November, the stock price has now pulled back by 30%. Other factors include the recent fluctuation in the bitcoin market, which has also affected the firm’s stock. Bitcoin reached an ATH at $ 108k, yet there is pressure selling, and it has gone down to $90k, which marked a weekly loss of 11.52%. Nevertheless, MicroStrategy sees its Bitcoin-focused strategy and future growth in the same terms and expects a more favorable legal framework in the United States.
Bitcoin Price Can Recover To $107,000 Again If This Important Level Is Broken
Over the last few weeks, the Bitcoin price has been on a downward trend, experiencing significant declines that have pushed it below its all-time high above $104,000. Despite this price crash, a crypto analyst has predicted that Bitcoin could recover from this slump and potentially reach a new ATH at $107,000. However, for the pioneer cryptocurrency to make this recovery, it would have to break past a crucial Fibonacci level. Why The Bitcoin Price Could Rebound To $107,000 Crypto analyst CobraVanguard released a chart analysis on TradingView, illustrating Bitcoin’s price movement and potential recovery to $107,000 in the coming days. The analyst’s price chart showed that Bitcoin was previously in a rising wedge, a technical pattern generally viewed as a bearish signal as it indicates the likelihood of a price decline during an uptrend. True to the pattern, Bitcoin broke below the rising wedge, turning its price significantly bearish and triggering declines. Following this wedge breakout, Bitcoin plummeted from above $100,000 to $94,000 in just a few days. CobraVanguard has noted that the Fibonacci retracement levels at 0.618 and 0.382 are marked on the chart, possibly indicating potential resistance and support zones for Bitcoin. With the price of Bitcoin crashing after breaking the wedge, it is now consolidating close to the 0.382 Fibonacci level between $92,000 and $94,000. Considering Bitcoin’s current bear trend, the 0.382 Fibonacci level may act as support if its price falls again. On the other hand, CobraVanguard has predicted that if Bitcoin can break above the 0.618 Fibonacci level between $98,000 and $100,000, it could indicate renewed bullish momentum, potentially triggering a price recovery towards a new all-time high of $107,000, marked as the “target” zone on the chart. Based on the trajectory of the arrow in CobraVanguard’s chart analysis, it appears that before Bitcoin can hit $107,000, it may face an even steeper decline to $90,000. The trajectory suggests a rebound towards $94,000, followed by a dip to $92,000. From there, Bitcoin is expected to climb to $100,000, experience another major pullback towards $95,000, and then surge to the analyst’s projected ATH at $107,000. Analyst Predicts More Downside For Bitcoin Prominent crypto analyst Jelle has expressed bearish sentiment on the Bitcoin price outlook towards the end of the year. The analyst compared Bitcoin’s current price movements with those of the previous cycle, highlighting similarities in fractals and bearish trends. Jelle predicts that Bitcoin’s price could drop below $90,000 this week from its current market value of $94,192. The analyst has based this projected price decline on low liquidity, highlighting that festive holidays like Christmas often trigger less liquidity for digital assets, leading to potential downside risks. Nevertheless, the analyst forecasts that after the short-term retracement, Bitcoin could resume its upward momentum in 2025. Based on his chart, he projects that the cryptocurrency could surge as high as $190,000 in Q2 next year. Featured image created with Dall.E, chart from Tradingview.com
Litecoin Hits 401K Daily Users as Network Activity Explodes
Litecoin has experienced a remarkable growth trajectory this year, with its valuation soaring by nearly 50%. Despite a brief dip during the latest market downturn, which saw the altcoin momentarily slip below $87, Litecoin has shown resilience and now trades above $107. This upward path is driven by the robust expansion of its network. The activity on the Litecoin network has seen significant growth . According to data from IntoTheBlock, average daily active addresses have increased to 401,000, up from 366,000 in 2023. Early January marked a peak in network activity, with a remarkable 1.37 million active addresses recorded in a single day—surpassing the daily activity level of both Bitcoin and Ethereum during that period. This surge highlights the protocol’s increasing utility and user engagement amidst a bullish phase in the cryptocurrency market. Long-term confidence in Litecoin is evident, with data showing that 53.9% of all mined LTC has remained unmoved for over a year, signifying a large portion locked away from immediate market circulation. Additionally, 85.8% of all LTC has been held for more than a month, emphasizing investors' inclination towards sustained ownership. On average, each LTC is held for 2.4 years, indicating a commitment to holding it as a long-term investment. One crypto analyst has forecasted that Litecoin may exceed its previous all-time high (ATH) and reach $500 during the ongoing bull market. Although its growth might seem slower compared to other crypto assets, the analyst pinpointed its strong fundamentals and historical resilience as key factors for a potential upswing. Another analyst compared Litecoin’s current market dynamics with its performance in the 2017 bull run, suggesting that history might soon repeat. The cryptocurrency shows promising signs of breaking out from its current consolidation phase. Indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggest a bullish trend. These technical signals imply that Litecoin might be gearing up for a significant rise, positioning it as a potential "dark horse" in the upcoming crypto rally.
XRP’s Price Forms Higher Lows: Analysts Eye 30% Surge to $2.91
XRP’s four-hour chart displays a hidden bullish divergence, signaling a possible price recovery of 30%. Analysts cast XRP could reach $2.91, with additional potential to achieve new ATH. Increased trading volume and bullish movement position XRP as a focal point. XRP’s four-hour chart indicates a hidden bullish divergence, signaling a likely recovery in its market movement. Analysts have noted this technical confirmation , which points to a possible price recovery of nearly 30% back to its 2024 highs. The current high target stands at $2.91, with room for further continuation to new all-time highs. Technical Chart Insights The hidden bullish divergence on XRP’s four-hour chart reflects a key momentum shift. Patterns like that occur when the price makes lower lows, but the relative strength index forms higher lows. According to the chart, the price has already formed higher lows, while the RSI formed lower lows, indicating the pattern. This divergence often indicates an impending upward move in price. XRP’s chart aligns with this pattern, suggesting a strong possibility of upward momentum in the near term, as noted by Javon Marks. Source: Javon Marks(X) Should XRP achieve the expected 30% recovery, the cryptocurrency could revisit its 2024 highs of $2.91. A continuation beyond this level may open the door to new all-time highs. The current technical setup indicates bullish sentiment among traders, supported by the divergence confirmation and price action. Broader Market Context XRP’s potential recovery comes amidst fluctuating market conditions for major cryptocurrencies. While broader market trends remain a key influencing factor, XRP’s technical indicators offer a more specific outlook for the asset. The bullish divergence provides a counterbalance to broader market uncertainties, positioning XRP as a focal point for traders. According to Coinglass data at the time of press, XRP’s price reached $2.26, with trading volume at $7.84 billion. Throughout the observed period, XRP’s price showed significant fluctuation, peaking at $2.32 before stabilizing. Source: Coinglass The chart reveals notable volume spikes, particularly in July and December, coinciding with price increases. XRP’s market activity shows increased engagement as the year progresses. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Analysis: The huge BIO airdrop claim address may belong to the Molecule protocol
citing community user @EthMaaoi, the massive BIO airdrop application address belongs to Molecule, a decentralized biotechnology protocol, and can be found at mol.eth. Previously, mol.eth had already claimed 26.38 million BIO, accounting for 2.03% of the total initial circulation (equivalent to a quarter of the Binance Launchpool airdrop amount). In addition, this address had participated in VITA three years ago, and subsequently participated in popular DeSci track projects such as GROW/ATH/PSY/HAIR, all of which are part of the BIO ecosystem.
RootData APP adds features such as "Token Unlocking" to continuously improve the quality of user trading decisions
Author: flowie, ChainCatcher Editor: PY, ChainCatcher Recently, the new version of the RootData App has officially launched. The new version features two major upgrades: the addition of essential information for investment research—real-time updates on "token unlocks"; and a comprehensive update of the UI/UX (User Interface/User Experience), providing users with a more tailored and personalized operational experience for investment research interactions. With the new "token unlock" feature, users can enhance the efficiency of capturing investment signals by utilizing the "hotness ranking" and comprehensive token unlock information, combined with the basic information of structured projects in both primary and secondary markets, allowing them to navigate the bull market with ease. Additionally, with a smoother interactive experience, RootData empowers users to achieve a one-stop efficient investment research decision-making experience, creating a more personalized and visually rich data dashboard. "Token Unlock" Real-Time Dashboard Launched to Assist Users in Formulating Scientific Investment Strategies Token unlocks are a crucial aspect of the crypto market, as they not only relate to the long-term development of projects but also directly affect market supply and demand dynamics and price fluctuations. According to recent research by crypto trading service provider Keyrock, approximately over $600 million worth of locked tokens are unlocked each week. The scale and intervals of unlocks, as well as expectations and dates, all impact token value and the market. By tracking token unlock dynamics in real-time, investors can better respond to market changes and formulate reasonable and scientific investment strategies. The "token unlock" section launched by RootData tracks the entire cycle and real-time dynamics of token unlocks. Compared to crypto data platforms like CoinMarketCap that focus solely on the secondary market, RootData's token unlock information is more detailed and offers better readability and visualization. For instance, the RootData homepage directly displays projects facing token unlocks in the past 24 hours and the countdown to unlocks; all token unlock panels include real-time tracking of unlock progress, market cap percentage of unlocked tokens, unlock dates, and users can also enter project detail pages to gain clearer insights into a project's unlock progress, the next unlock event, unlock plans, and token distribution information through a "text + chart" format. On the other hand, the RootData platform essentially collects all the information needed for project investment research in both primary and secondary markets. After gathering real-time token unlock dynamics on the RootData platform, users can smoothly understand the project's basic information, recent developments, and project popularity, completing a one-stop investment research process and improving decision-making efficiency. Keeping Up with Investment Research Operational Needs, Providing a Smoother Interactive Experience In addition to the new token unlock feature, the UI/UX of the RootData App has also been comprehensively upgraded. The new version closely follows the operational needs of investment research, optimizing the dimensions of information presentation, readability, visualization, and personalization. The RootData App is divided into three main sections: "Homepage," "Investment and Financing," and "Market." The homepage filters the most important information for users' investment research decisions. In addition to token unlocks, RootData provides six major information entry points or real-time tracking panels: "Watchlist," allowing users to customize a list of issued and unissued projects for real-time dynamic tracking; "Popular Projects," providing real-time rankings of the hottest projects to keep users aligned with market attention; "Popular Ecosystems," tracking real-time rankings of popular projects within major ecosystems, enabling users to quickly seize ecosystem benefits; "Project Dynamics," updating real-time information on mainnet launches, testnet launches, recent new tokens, and recent airdrop projects, ensuring users do not miss important project milestones; "Latest Additions," providing users with updates and details on early or new projects to capture Alpha. The "Investment and Financing" and "Market" sections provide users with real-time data for primary and secondary markets, respectively. The "Investment and Financing" section presents the latest financing dynamics in real-time and offers users multiple filtering tags such as "Ecosystem," "Amount," and "Investors" to create a personalized investment and financing information panel. The "Market Page" updates real-time data on the hottest sectors and data changes in secondary trading, as well as token trading prices, market caps, and other secondary data, allowing users to clearly understand market capital flows; additionally, users can also filter and customize their market tracking panels through tags. With the comprehensive upgrade of the RootData App, the platform's points activity tracking feature has also been launched, allowing users to earn more rewards while researching. RootData has previously distributed two rounds of airdrop rewards, totaling 5,000 USDT, 60,000 ATH, 5,000 HSK, and 50 RootData monthly API Plus data services, with more airdrop incentives expected to continue. RootData has consistently maintained insights into user investment research behaviors and has rapidly iterated updates in response to research needs. The first industry project "Hotness Ranking" launched by RootData has also helped users capture the real pulse of attention through over 4.3 million real user behavior data, gaining widespread favor from investors. The reason RootData can maintain its iteration speed and accurately meet user needs is based on its large ecological user base. It is reported that RootData, as a trusted data layer of the Web3 ecosystem, encapsulates on-chain and off-chain data of Web3 assets, refining higher data structuring and readability. Currently, RootData has recorded details of over 15,000 projects, accumulating over 2 million independent users. RootData's data has been cited multiple times by mainstream media and crypto KOLs, including The Wall Street Journal, CoinDesk, Cointelegraph, and Decrypt. RootData is also continuously expanding its ecosystem, having established partnerships with dozens of well-known projects such as OKX, Tokenpocket, and 0xscope to build a data network advantage. With insights into the Web3 market and a large ecological user base, RootData secured $1.25 million in seed round financing led by NLVC in April this year, with participation from Hong Kong-listed company Boyaa Interactive (00434.hk), Bonfire Union Ventures (a fund under Mask Network), Skyland Ventures, Orbiter Finance founder Gavin, and 0xScope co-founder Jackson.
Cardano’s 17% weekly drop could push ADA to $6 this cycle
Cardano's (CRYPTO:ADA) native cryptocurrency, ADA, has experienced a significant price drop in the past week, falling below $1. Despite the setback, some analysts believe this correction could set the stage for a potential price surge. Over the past ten days, ADA’s price has plummeted from $1.2 to below $0.8, though it has since regained some ground to settle at around $0.9. This marks a 25% decline since December 12. In the broader context, however, ADA’s performance tells a different story. Prior to the recent correction, ADA had been in a tight range between $0.3 and $0.4 for several weeks. After the US presidential elections, the asset surged, reaching a multi-year high of over $1.3. Despite the recent decline, ADA is still up 160% in less than two months. Analyst Ali Martinez highlights the significance of this correction from a long-term perspective. He pointed out that ADA’s price movement in the current cycle mirrors its performance in 2020, where a major retracement followed a strong rally. In that case, ADA went on to surpass its previous all-time high (ATH) of $3.09, and Martinez believes a similar pattern could lead ADA to a new ATH of $6. A price of $6 would put ADA’s market capitalisation well above $200 billion, making it one of the top three cryptocurrencies by market cap. At the time of reporting, the Cardano (ADA) price was $0.8694.
Bitcoin Signal: Could XRP, Solana, ATH, FIL, and RNDR Be Set to Rally?
Bitcoin’s recent decline has caused a bearish phase, affecting the broader crypto market. Altcoins like XRP, Solana, Aethir, Filecoin, and Render also experienced notable drops. Despite negative sentiment, historical trends suggest a potential market rebound and rally ahead. Bitcoin has once again pulled the broader crypto market into a bearish phase, continuing its volatile trend. Over the past 24 hours, Bitcoin dropped to just above $95K after reaching a high of $99,507 on Saturday. Notably, this rally toward $100K followed a sharp drop to $92,170 on Friday. While the recovery had sparked optimism among traders, the latest correction has brought Bitcoin back down, altering market sentiment. Expectedly, this dip has had a ripple effect on the altcoin market. XRP, Solana, ATH, FIL, and RNDR in Bearish Market For example, XRP fell back to $2.18 after briefly recovering to $2.34 on Saturday. Similarly, Solana dropped to $178 from $196 just the day before. Other altcoins, such as Aethir (ATH), Filecoin (FIL), and Render (RNDR), have also experienced similar declines. This downturn has reignited concerns in the market, with traders increasingly fearing that the recovery is out of reach. Social media sentiment metrics, reported by market intelligence firm Santiment, reflect an overwhelming amount of negative commentary surrounding Bitcoin. The firm highlighted that Bitcoin’s recent decline has pushed crowd sentiment to its most pessimistic point of the year. The heightened level of FUD could be a contrarian signal for seasoned investors. Historically, such negativity has often been followed by price surges. Altcoins and Bitcoin Set for Historic Rebound For example, in early July and August, significant market pessimism was followed by price increases of 17.2% and 14.3%, respectively. This pattern suggests that the current negative sentiment could be setting the stage for a potentially historic comeback. While many traders remain anxious about further losses, experienced investors might view this uncertainty as a potential opportunity. If Bitcoin follows its historical trend, we could soon see a rally across the altcoin market, potentially boosting XRP , Solana, Aethir, Filecoin , and Render as part of a broader recovery. Price Targets for XRP and Solana According to numerous market watchers, XRP could rally to between $4 and $5 when the bull momentum returns. Notably, XRP would attain this price range following a 120% price surge. Likewise, for Solana, market participants expect SOL to reclaim its all-time high of $265 and commence a journey into price discovery. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Crypto Analyst Predicts BNB Rally to $2,000: What to Expect
Analyst predicts Binance Coin could soon see a significant bullish push, possibly leading to a new all-time high. Innovative tools and traditional finance bridges are boosting the BNB Chain ecosystem, increasing adoption and investor interest. Binance Coin (BNB) has been gaining traction in the crypto market, with recent developments and predictions driving hopes for a substantial price increase. Javon Marks, a popular crypto analyst, tweeted that BNB could be on the verge of a significant surge, potentially tripling its current value to the $2,000 level. Marks underlined that historical trends of BNB point to a possible bullish push, thereby maybe guiding the token to a new all-time high (ATH). Source: Javon Marks on X BNB Shows Signs of Recovery Amid Bullish Momentum Meanwhile, BNB is swapped hands at about $689.58 at the time of writing, a 3.46% increase over the last 24 hours. Following the token’s multi-day correction, which let market analysts conjecture on its next movement, this increasing momentum results. The present price recovery points to a starting point of a bullish sentiment. [mcrypto id=”435407″] Apart from market trends, the BNB ecosystem gains from important developments and cooperative efforts as well. Leading DeFi platform PancakeSwap on BNB Chain has unveiled SpringBoard, a no-code tool meant to streamline token production and usage on the chain, as we previously reported . This innovative ability instantly provides liquidity for recently introduced tokens, therefore removing the need for coding knowledge. The project is supposed to greatly improve user accessibility and propel further BNB Chain ecosystem adoption. Furthermore, showing increasing interest in BNB is the traditional financial industry. A few days ago, according to CNF , Osprey Funds debuted the first publicly traded fund in the United States based on Binance Coin, hence further combining blockchain technologies with traditional financial processes. Offering regulated access to the BNB ecosystem, the Osprey BNB Chain Trust lets traditional investors participate in the growing DeFi sector.
December Historically Closes Over 40% in Bitcoin Halving Years, Analysts Expect Explosive BTC Pump Soon
Bitcoin price makes a spectacular recovery after a brutal fall. Historically December has closed in a 40% price pump in Bitcoin Halving years. Analysts prepare for a major price surge in the final days of December 2024. The price of Bitcoin makes a spectacular recovery after a significant drop . In detail, the pioneer crypto asset set its latest ATH at $108,268.45. Four days ago. Presently, the price of Bitcoin is at $98,434.73, a price that is up by 3.43% in the last 24 hours and down by 9.16% in comparison to its last ATH. Bitcoin Recovers Swiftly After Brutal Dip More importantly, the price of Bitcoin fell from $108,268 to $92,175.18 in 72 hours which led to mass FUD reactions and high panic-selling. Many new traders feared the remarkable drop signaled an end to the bull run pump. In contrast, seasoned traders saw the dip as another healthy correction and an opportunity to accumulate. One reputed crypto analyst known for his many accurate predictions has said many times that Bitcoin price will hit the following targets as we head into the new year: $110,000, $125,000, $135,000, $150,000 and $200,000. This means that Bitcoin should have a very bullish rally including expected dips as the market corrects after certain pump milestones. In this ongoing crypto bull run so far, Bitcoin has set consecutive monthly closes in a bullish green pump. To highlight, the months of September, October, and November have all ended in bullish green closes. Presently, the stage is set for December to close in a bullish green sign as well. December Set to Close With Over 40% Pump The average return in December during a #Bitcoin halving year is +40%. Right now, we're at +1%. There's a huge gap to fill! pic.twitter.com/rXOP1rSMwb — Crypto Rover (@rovercrc) December 20, 2024 As we can see from the post above, in previous Bitcoin Halving years, December’s average return has been over 40%. Presently, with under 9 days remaining for the end of December, BTC is up by 1%. The analyst highlights that BTC price has a huge gap to fill and expects explosive rallies in the coming week ahead. Given Bitcoin’s impressive recovery, the asset may very well surprise skeptical traders. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
As XRP Struggles to Break ATH, FX Guys Remains a Resilient Alternative
Ripple (XRP) has had problems following through with its upward trajectory, which has stopped it from creating a new All-time High (ATH). Although there are signs of rising from the downward trend recently, the market has not been very friendly to the cryptocurrency as it fails to make consistent gains. But FX Guys ($FXG) , a new crypto project, remains a strong alternative with its presale growth. The presale of FXG has raised $3.1 million, which is better compared to other crypto coins, and this is just Stage 2. Currently, this DeFi crypto coin is at $0.04, and its launch price is at $0.10. That means investors can make 150% ROI, and this may be the best time for investment. This article examines why FX Guys remains resilient as XRP struggles to break ATH. >>>BUY $FXG TOKENS HERE<<<< Ripple (XRP): Faces Bearish Signals Amid Weak Momentum Ripple is a payment protocol that efficiently and expeditiously settles cross- borders remittance at cheaper cost. At the current time, the expectation of the analyst on the price value of XRP is not very good. On the other hand of the equation, the Price Daily Active Addresses (DAA) Divergence has been giving out the sell signal for the last two days. Nevertheless, the number of participants or active addresses is gradually decreasing, while their price is increasing, hence a bearish signal for XRP. It then demonstrates that XRP is likely to face some difficulties when trying to overcome some pivotal resistance levels. As it is with the MACD signals showing bearish crossover, traders are being forced to make adjustments where possible. FXGuys ($FXG): A Unique Staking Platform for Maximum Rewards With all its benefits in the market, FXGuys has emerged as one of the resilient and most popular altcoins. This token boasts a very different staking mechanism compared to what has been seen among other projects. In relation to the staking platform, $FXG token holders enjoy a number of advantages that have made it the best blockchain trading platform available. The staking allows for a return of 20% annually on those tokens, which in turn depends on the trading volume. With this mechanism, the amount you need to earn will be totally dependent upon your investments since you can stake any amount of tokens. FXGuys removes the buying or selling tax taken from transactions and provides an extremely easy process of generating passive income with this mechanism. FXGuys ($FXG): Unlock Big Earnings with Funded Trading The FX Guys Trader Funding Program offers a once-in-a-lifetime opportunity for professional traders to increase their earnings. Elite retail traders who have passed various trading assessments or challenges can get funded with up to $500,000 in a trading account. The profits shared are very favourable in an 80/20 split toward the trader, making this one of the most popular altcoins for anyone ready to make great success in the markets. Other projects require you often to go through some KYC process, but on the FXGuy platform, it is not necessarily needed. You can start trading right after you’ve created an account without the need to go through any form of verification. This makes it easy for you to deposit fiat money and withdraw this DeFi crypto coin in crypto or fiat currency. >>>BUY $FXG TOKENS HERE<<<< Summary XRP has been working hard to attain ATH, yet FXGuys has made sure that it provides investors with the right tool set to make their portfolios grow. Its staking and funding program for the trader has turned FXGuys into the best blockchain trading platform. You can visit their website and follow the instructions on how to buy the tokens. To find out more about FXGuys follow the links below: Presale | Website | Whitepaper | Socials | Audit
What is MOVE Token and How It Rose to the Top 100 Cryptos
The Movement (MOVE) token is a standout performer in the crypto market, powered by its innovative Ethereum Layer-2 scaling network, the Movement Network. Built using the Move programming language, this blockchain aims to enhance scalability, security, and performance for developers and users alike. By TradingView - MOVEMUSD_2024-12-21 (1M) What is MOVE Token: History and Recent Performance Launched on December 9, 2024, with the Token Generation Event (TGE) and a highly successful "MoveDrop" airdrop, the MOVE token initially gained significant traction. It hit an all-time high (ATH) of $1.45 on December 10, 2024, shortly after its launch. Today, MOVE is trading at $0.9935, reflecting a 43.8% surge in the past 24 hours, following an intraday low of $0.6851 and a high of $1.12. Despite being 29.97% below its ATH, the token has consistently shown resilience, outperforming most other cryptocurrencies during the recent market recovery. By TradingView - MOVEMUSD_2024-12-21 (1D) MOVE Tokens Distribution Plan: A Smart MOVE The MOVE token has a carefully planned distribution model designed to support its ecosystem and incentivize growth: Ecosystem and Community (40%): Reserved for staking rewards, ecosystem initiatives, and user incentives, fostering a vibrant and active network. Early Backers (22.5%): Allocated to early investors who provided financial and strategic support during the development phase. Early Contributors (17.5%): Dedicated to individuals who contributed to the project’s growth, including developers, strategists, and marketers. Foundation (10%): Used to support the ongoing operations of the Movement Network Foundation, ensuring sustainability and development. Initial Claims (10%): Distributed through the "MoveDrop" airdrop, rewarding early users and community participants with 1 billion MOVE tokens (10% of the total supply). By TradingView - MOVEMUSD_2024-12-21 (All) MOVE Recent Hype: How It Rose to the Top 100 Cryptos 1- MOVE Token Performance: A Weekly and Monthly Highlight MOVE’s market capitalization of $2.25 billion ranks it at #57 among top cryptocurrencies, reflecting strong investor confidence. While many tokens struggled during the recent market crash, MOVE’s rapid recovery positions it as a top-performing crypto for the day, week, and month. By TradingView - MOVEMUSD_2024-12-21 (YTD) 2- Factors Driving the MOVE Performance When it comes to the MOVE token standout, here are the factors driving the MOVE token performance: Market Resilience: Amid a volatile crypto market over the past two days, MOVE has emerged as a strong contender, showcasing impressive intraday and weekly gains. Increased Adoption: Its Layer-2 scaling solutions have attracted significant attention from developers and blockchain enthusiasts. Exchange Listings: With major platforms like Binance and Coinbase supporting MOVE, liquidity and trading volumes have surged. Community Backing: The success of the "MoveDrop" airdrop has amplified its community-driven hype. 3- Why MOVE Is Worth Watching With a robust foundation, innovative technology, and strong market momentum, the MOVE token continues to defy the odds in a turbulent market . Its growing adoption, community support, and performance consistency make it a leading choice for investors seeking high-growth crypto assets.
Samson Mow on Bitcoin Crash: 'Supply Shock Is Coming'
Thus far this week, the crypto market has tasted two extreme sides of price movement, with Bitcoin soaring to an all-time high (ATH) above $108,000 while dropping as low as $95,587.68. The week also saw a massive accumulation streak from top pro-Bitcoin firms. Despite this trend, Bitcoin prices still fell off, and Samson Mow has broken the silence on what is happening. Bitcoin supply shock coming In a post on X, Samson Mow noted that he often sees people asking why the price of Bitcoin has continued to fall despite everyone buying, and there is no supply. In response, he said the events of this past month are just the market behaving irrationally with the limited supply of Bitcoin. I often see people asking the question “if everyone is buying and there’s no supply, then why is the price going down?” It’s just the market behaving irrationally with what limited #Bitcoin supply is left. Trust your instincts. The supply shock is coming. — Samson Mow (@Excellion) December 20, 2024 Earlier this week, MicroStrategy bought another $1.5 billion worth of Bitcoin to increase its total holdings to 439,000 BTC. Beyond MicroStrategy, other smaller firms with Bitcoin treasuries, including MARA Holdings, also announced major purchases, effectively depleting the coin’s circulating supply. Amid this buy-ups, the market has not moved past the $108,000 level; rather, it has failed to maintain support around the $100,000 mark. In his reaction, Samson Mow said investors need to trust their instincts and understand that a "supply shock is coming." Imminent BTC price recovery Whenever MicroStratey announces a Bitcoin purchase, as it has done over the past six weeks, market traders find a way to rebalance their pricing to its average purchase price. While it remains uncertain if another purchase will be unveiled in the coming week, the market is likely to rebalance ahead of the potential buy-up announcement. As of writing time, the price of Bitcoin has dropped 3.54% in 24 hours to $95243.24. Amid the ongoing freefall, the coin is bound to see a major retest of this level, as it has formed a strong support around this price range over the past month.
Bitcoin Demand Hits 3-Year High; Signs of 2015-2018 Bull Run Reappear
Bitcoin reached a new all-time high (ATH) earlier this week, briefly surpassing $108,000. However, the crypto king has since faced a pullback, dropping below $96,000. While the decline reflects short-term profit-taking, it does not negate the cryptocurrency’s long-term potential, which continues to garner attention. Bitcoin Is Changing Hands Mid-term Bitcoin holders, particularly those who have held BTC for six to 12 months, are leading the current profit-taking trend. These investors accumulated during prior cycles and are now seizing the opportunity to lock in gains. This behavior mirrors the 2015-2018 bull market when the Spent Output Profit Ratio (SOPR) remained below 2.5 for an extended period, eventually giving way to a euphoric rally. As seen in prior bull markets, heavy profit-taking from these holders is likely to lead to a phase of exhaustion. For Bitcoin to maintain its upward momentum, increased demand and the entry of new buyers are crucial. Without these factors, the bull run could face challenges in sustaining its trajectory. Bitcoin SOPR. Source: Glassnode The HODL waves show a noticeable increase in wealth held by recently moved Bitcoin, indicating a rise in demand-side activity. Coins previously held by long-term investors are being distributed to new buyers, demonstrating that fresh capital is entering the market. This trend highlights the growing interest in Bitcoin despite recent price fluctuations. However, the proportion of wealth held by newer investors has not yet reached levels seen during the peak of prior ATH cycles. While the current metrics show positive signs, Bitcoin’s macro momentum hinges on whether this demand continues to grow. Sustained accumulation by new market participants will be key to driving future price rallies. Bitcoin HOLD Waves. Source: Glassnode BTC Price Prediction: Recovery Ahead Bitcoin is expected to find immediate support around $95,000. Currently trading at $95,144, the cryptocurrency could recover if market sentiment stays positive. The next critical milestone for Bitcoin is flipping $95,668 into support. Achieving this would likely pave the way for a move back above $100,000. Breaking past this psychological barrier would signal renewed confidence and bullish momentum, potentially drawing in additional buyers. Bitcoin Price Analysis. Source: TradingView Failure to hold the $95,000 range or increased profit-taking could push Bitcoin lower. In such a scenario, the next significant support level sits at $89,800. A decline to this point could invalidate the bullish thesis, signaling a potential bearish phase for the market.
An ATH for ETH?
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe . Bitcoin keeps hitting new highs. Good for bitcoin, ether says (if the asset could talk). ETH’s price of $3,470 (as of 1:30 pm ET Thursday) is about 30% off of its nearly $4,900 all-time high (set in November 2021). Newsletter Subscribe to Forward Guidance Newsletter Subscribe LMAX Group market strategist Joel Kruger said a weekly close above $4,000 could help accelerate the rally toward a retest of its price peak. That “could easily play out between now and year end,” he told me earlier this week. Stocks , BTC and ETH then dipped following Wednesday’s FOMC meeting. Still, Kruger said he doesn’t expect the latest crypto asset selling to materially impact longer-term price outlooks. CoinShares research associate Luke Nolan told me he’s eyeing February or March for ETH to hit a new high — that is, if market momentum continues and ether ETF flows remain strong. He sees several factors working in ETH’s favor: a multi-year low in the ETH/BTC ratio; a flip in retail and institutional sentiment; and being an attractive relative value trade (given ETH is one of the few notable coins yet to hit an ATH this cycle). On the investor sentiment piece, US spot ETH products have brought in $3 billion of net inflows since Nov. 6 ( after the election ). That number is $13.5 billion for spot BTC funds over that span. BTC remains an “easier sell” for many investors given its digital gold narrative, Nolan argued. More difficult to grasp is an analogy of Ethereum as a kind of global decentralized AWS . “It’s a slower process to get people to understand [ETH’s] value proposition,” he added. “But it seems to be happening more so now than it was when the products initially launched.” Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter . Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter . Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more. The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus. Tags BTC ETH ether ETFs Ethereum Forward Guidance newsletter
Solana Price Prediction: Will SOL Hit $400 or Face Further Correction?
Solana (SOL) is at a critical crossroads. While bullish analysts see potential for a surge to $400, bearish indicators hint at a possible correction. As the sixth-largest crypto by market cap, Solana price movement captures the attention of investors worldwide. This article delves into Solana price forecast , technical analysis, and the key factors driving both bullish and bearish narratives. By TradingView - SOLUSD_2024-12-20 (1D) 1- Solana Bullish Outlook: $400 Surge in Sight? Solana price trajectory has sparked optimism among analysts who see potential for a significant rally. Following a strong upward movement from September to mid-November 2024, Solana hit a new all-time high (ATH) of $263.83 before retracing to the $205 support level. Technical analysis suggests this level could serve as a launchpad for a fresh rally. One of the key proponents of the bullish outlook is analyst MartyParty, who highlights a "ghost feed" candle pattern similar to a fractal observed earlier in the year. This pattern, coupled with Solana price stability in the $205-$210 range, points to a potential surge toward $345. Similarly, another analyst, Ridger R, identifies a bullish flag formation. If this pattern plays out, it could pave the way for Solana to break resistance levels and target the $400-$600 range. Beyond technical analysis, on-chain metrics also support the bullish narrative. Data from Token Terminal reveals that Solana captured 53% of global crypto users in November, surpassing other blockchains. Developer activity also supports Solana growth, with the Electric Capital 2024 Developer Report showing Solana attracted 19.5% of new developers, overtaking Ethereum for the first time since 2016. Solana Total Value Locked (TVL) adds to the bullish sentiment. Data from DeFi Llama shows Solana TVL surged to $8.93 billion, nearing its pre-FTX levels of $10 billion. This growing adoption strengthens Solana status as a top-tier blockchain for DeFi, NFTs, and Web3 applications. With its ability to process over 50,000 transactions per second at low fees, Solana fundamentals support the case for an upward price trajectory. By TradingView - SOLUSD_2024-12-20 (1M) 2- Solana Bearish Outlook: Correction on the Horizon? Despite the bullish projections, some technical indicators and on-chain data hint at a possible correction. Solana price recently closed below the critical 200-day Exponential Moving Average (EMA) at $196, marking a significant bearish signal. This decline triggered over $38 million in total liquidations, with $33 million coming from long positions, adding to investor anxiety. SOL price failed to sustain above the $201.85 support level, closing below key support levels at $196 and $194. Analysts warn that if this resistance holds, Solana price could decline another 10%, with support levels around $174.85 and the 200-day EMA. At present, Solana is trading at $187 , reflecting an 11% drop in the last 24 hours. This sharp decline has added pressure to Solana short-term outlook, with bears maintaining control over the market. Technical indicators add to the bearish narrative. The Relative Strength Index (RSI) sits at 35, well below the neutral level of 50, signaling strong bearish momentum. Such low RSI levels often hint at continued downward pressure. Historical data also suggests a link between sharp TVL declines and price drops. For instance, Solana TVL recently fell from $11.22 billion to $10.35 billion in a single day, reflecting a 7% decline. Similar TVL declines on August 3 and October 29 led to more than 10% price corrections, suggesting a possible repeat scenario for SOL. Another bearish factor is the impact of FUD (Fear, Uncertainty, and Doubt) caused by sudden liquidations. Liquidation events on December 14 resulted in $38.86 million in total liquidations, raising selling pressure on SOL. Unless Solana price recovers and closes above the $201.85 resistance level, bearish momentum may persist. By TradingView - SOLUSD_2024-12-20 (5D) Solana price prediction presents two diverging paths. Bullish factors such as the $205 support, bullish patterns, growing developer activity, and rising TVL point toward a potential surge to $400. On the flip side, technical resistance at $201.85, liquidations, declining TVL, and bearish RSI suggest a possible correction to $174.85. Investors should monitor key support and resistance levels and keep a close eye on market sentiment to determine Solana next move. By TradingView - SOLUSD_2024-12-20 (YTD)
Bitcoin price has legs above $100K despite holders booking record profits — Analysis
Bitcoin’s ( BTC ) recent price rally above $100,000 has coincided with a sharp drop in the supply held by its long-term holders. This suggests that some of the market’s most seasoned Bitcoin investors are booking record profits as BTC price climbed toward the six-figure milestone. Realized profits for Bitcoin longs hit record highs The chart below shows entities that hold Bitcoin for more than 155 days as long-term holders (LTH). Their behavior can often reflect a shift in market sentiment. As of Dec. 19, the supply held by Bitcoin’s LTH dropped to $13.31 billion compared to its local peak of around $14.23 billion two months ago, according to Glassnode data . In the same period, BTC’s price has risen from around $58,000 to over $100,000, indicating that LTHs have been selling their holding at local highs. Total Bitcoin supply held by LTH. Source: Glassnode Bitcoin uptrend above $100,000 is far from being exhausted Bitcoin’s short-term holders (STHs) are stepping in to absorb sell-side pressure from long-term holders. Notably, the LTH supply’s decline has coincided with the rise in the Bitcoin supply held by STHs. The ability of STHs to absorb this selling pressure has likely played a key role in sustaining Bitcoin’s price momentum above $100,000. Bitcoin total supply held by STHs. Source: Glassnode “The proportion of wealth held by these new investors has not yet reached the heights experienced during previous ATH cycle tops,” noted Glassnode analysts UkuriaOC and CryptoVizArt in their weekly report , adding: “The interpretation here is that the market may not have reached the level of euphoric fervor, and saturation by speculators seen in prior cycles.” Bitcoin realized HODL Waves of 24-hour—3-month BTC holders. Source: Glassnode Another useful metric to assess the state of the market is the True Market Deviation (AVIV Ratio), which measures the average unrealized profit— or paper gains—held by active investors. Based on participants’ profitability, this ratio helps determine whether the market is overextended or still has room to run. Related: Double-digit drop in Bitcoin profit-taking metric hints it’s ‘ready’ to rally — Analyst Historically, bull markets tend to peak when nearly all investor categories achieve substantial profits. This scenario often results in overwhelming sell-side pressure, as investors lock in gains while new buyers hesitate to enter at elevated prices. The AVIV Ratio’s extreme band, defined as +3 standard deviations (σ), typically signals such overheated conditions. As of Dec. 19, it stood at 1.81, well below the extreme band of +3σ (2.3). Bitcoin AVIV Ratio tops. Source: Glassnode This suggests that while profits are rising, the market has not yet reached levels of unsustainable euphoria. So, Bitcoin could continue to climb even higher before profit-taking and reduced demand create a real market reversal. Bitfinex says Bitcoin price drop will be mild Analysts at Bitfinex exchange estimate Bitcoin correction to be mild in the coming months, stating that growing institutional demand will eventually propel BTC price to $145,000 by mid-2025, or $200,000 in the best-case scenario. As of Dec. 19, Bitcoin exchange-traded funds (ETF) are currently managing a little over $37 billion worth of assets, compared to $24.23 billion at the start of November, according to Farside Investors data . Bitcoin ETF cumulative net flows. Source: Farside Investors Meanwhile, speculation is mounting within the crypto industry over the possibility that the incoming Trump administration could establish a strategic Bitcoin reserve for the United States, a move that could push the price toward $800,000 by the end of 2025 .
Bitcoin Demand Hits 3-Year High; Signs of 2015-2018 Bull Run Reappear
Bitcoin reached a new all-time high (ATH) earlier this week, briefly surpassing $108,000. However, the crypto king has since faced a pullback, dropping below $96,000. While the decline reflects short-term profit-taking, it does not negate the cryptocurrency’s long-term potential, which continues to garner attention. Bitcoin Is Changing Hands Mid-term Bitcoin holders, particularly those who have held BTC for six to 12 months, are leading the current profit-taking trend. These investors accumulated during prior cycles and are now seizing the opportunity to lock in gains. This behavior mirrors the 2015-2018 bull market when the Spent Output Profit Ratio (SOPR) remained below 2.5 for an extended period, eventually giving way to a euphoric rally. As seen in prior bull markets, heavy profit-taking from these holders is likely to lead to a phase of exhaustion. For Bitcoin to maintain its upward momentum, increased demand and the entry of new buyers are crucial. Without these factors, the bull run could face challenges in sustaining its trajectory. Bitcoin SOPR. Source: Glassnode The HODL waves show a noticeable increase in wealth held by recently moved Bitcoin, indicating a rise in demand-side activity. Coins previously held by long-term investors are being distributed to new buyers, demonstrating that fresh capital is entering the market. This trend highlights the growing interest in Bitcoin despite recent price fluctuations. However, the proportion of wealth held by newer investors has not yet reached levels seen during the peak of prior ATH cycles. While the current metrics show positive signs, Bitcoin’s macro momentum hinges on whether this demand continues to grow. Sustained accumulation by new market participants will be key to driving future price rallies. Bitcoin HOLD Waves. Source: Glassnode BTC Price Prediction: Recovery Ahead Bitcoin is expected to find immediate support around $95,000. Currently trading at $95,144, the cryptocurrency could recover if market sentiment stays positive. The next critical milestone for Bitcoin is flipping $95,668 into support. Achieving this would likely pave the way for a move back above $100,000. Breaking past this psychological barrier would signal renewed confidence and bullish momentum, potentially drawing in additional buyers. Bitcoin Price Analysis. Source: TradingView Failure to hold the $95,000 range or increased profit-taking could push Bitcoin lower. In such a scenario, the next significant support level sits at $89,800. A decline to this point could invalidate the bullish thesis, signaling a potential bearish phase for the market.
A Bitcoin Reserve Act may end crypto’s 4-year boom-bust cycle
With speculation mounting that incoming President Donald Trump may sign an executive order declaring a Bitcoin Reserve on day one, or pass legislation to establish a Reserve during his term, many wonder if the move could lead to a crypto supercycle. Since Wyoming Senator Cynthia Lummis introduced the Bitcoin Reserve Act earlier this year, states like Texas and Pennsylvania have filed similar proposals. Russia, Thailand and Germany are reportedly considering proposals of their own, further ramping up pressure. If governments are competing to secure their own stockpiles of Bitcoin, would we say goodbye to the four-year boom-bust cycle in crypto prices that many attribute to Bitcoin’s halving? Iliya Kalchev, dispatch analyst from crypto lender Nexo, believes “the Bitcoin Reserve Act could be a landmark moment for Bitcoin signaling its “recognition as a legitimate global financial instrument.” “Every Bitcoin cycle has a narrative trying to push the idea that ‘this one is different.' The conditions have never been so ideal. Crypto has never had a pro-crypto US President who controls the Senate and the Congress.” Lummis’ proposed Bitcoin Act 2024 would enable the US government to insert Bitcoin ( BTC ) into its treasury as a reserve asset by buying 200,000 BTC annually over five years, accumulating 1 million Bitcoin, which it would hold for at least 20 years. Jack Mallers, founder and CEO of Strike, believes Trump has the “potential to use a day-one executive order to purchase Bitcoin ” although he cautioned that it would not equate to a 1 million Bitcoin purchase. Dennis Porter, co-founder of the nonprofit organization Satoshi Act Fund, which supports pro-Bitcoin US policy bills, also believes Trump is exploring enabling a strategic Bitcoin reserve through an executive order. Announcement from Dennis Porter that Trump is studying an executive order for a strategic Bitcoin reserve. Source: Dennis Porter So far, Trump’s team has not directly confirmed the claims about an executive order, but Trump was asked on CNBC if the US would create a BTC Reserve similar to its oil reserve (which could mean legislation) and he answered, “ Yes, I think so .” Related: Ohio lawmaker introduces Bitcoin reserve bill allowing state to buy BTC An executive order, however, would lack stability, as subsequent presidents often reverse such orders. The only way to ensure the long term future of a strategic Bitcoin reserve would be with legislation with majority support. Bitcoin advocates on Trump’s team have solid ground to push Lummis’ bill as Republicans dominate Congress and have a slim majority in the Senate. However, just a few Republican defectors, swayed by progressive outrage over supposedly handing the government’s wealth to Bitcoiners, could derail the bill. US Senate and Congress results post-election 2024. Source: The Associated Press ‘Stop comparing this cycle to prior cycles’ Earlier this month, Alex Krüger, economist and founder of macro digital assets advisory firm Asgard Markets, said the election result made him believe that “Bitcoin is highly likely in a supercycle.” He believes that Bitcoin’s unique situation could be compared to gold when it surged from $35 per ounce in 1971 to $850 in 1981 as former US President Richard Nixon took the US off the gold standard, ending the Bretton Woods system. Krüger did not rule out the possibility of Bitcoin going through a bear market as in past cycles. However, he urged the crypto investors to “stop comparing this cycle to prior cycles” as it may be different this time. Trump’s actions to date certainly suggest a favorable administration going ahead. He’s nominated pro-crypto and pro-deregulation Paul Atkins as chairman of the Securities and Exchange Commison after Gary Gensler stepped down . He’s also nominated pro-crypto Scott Bessent as Treasury Secretary and designated former PayPal Chief Operating Officer David Sacks as AI and crypto czar , tasked with developing a clear legal framework for the crypto industry. Supercycle theory has never had super results However, the concept of “this cycle being different” has surfaced in every past Bitcoin bull market, each time backed by narratives surrounding mainstream and institutional adoption. During the 2013-2014 bull run, the supercycle theory was supported by the theory that Bitcoin would gain international interest as an alternative asset to fiat currencies. In the 2017-2018 cycle, the rapid price appreciation was thought to be a sign of mainstream financial adoption and the beginning of Bitcoin’s mainstream acceptance, where institutional interest would thrive. In the 2020-2021 cycle, when tech companies such as MicroStrategy, Square and Tesla entered the Bitcoin market, they believed many tech-related companies would follow suit. Bitcoin’s price performance peaks and lows from prior cycles. Source: Caleb Brown However, in each cycle, the supercycle narrative was not fulfilled ending in a price crash that wiped out proponents as it entered a prolonged bear market. Su Zhu, co-founder of Three Arrows Capital, was the most notable proponent of the Supercycle Thesis from 2021, arguing that crypto markets would remain in a bull market without a sustained bear market, with Bitcoin eventually peaking at $5 million. 3AC certainly borrowed money as if the supercycle thesis was real and when it was eventually liquidated, the crypto market cap fell by almost 50% on the news and the collapse led to bankruptcies and financial difficulties for lenders including Voyager Digital, Genesis Trading and BlockFi. So a supercycle is a dangerous theory to bet your life savings on. For Chris Brunsike, partner at venture capital firm Placeholder and former blockchain products lead at ARK Invest, the Bitcoin supercycle is a myth . “Supercycle is without fail a collective delusion.” Nevertheless, the US election results have overwhelmingly provided Bitcoin with unprecedented and extremely bullish conditions considering the backing of a US President who seems to be following through with his pro-crypto promises , among them to never sell Bitcoin from the US Bitcoin stockpile. The potential global domino effect If the Bitcoin Reserve Act is passed, it may kick off a global hodling race as other countries follow suit to avoid being left behind. George S. Georgiades, a lawyer who transitioned from advising Wall Street firms on capital raising to working with the crypto industry in 2016, told Cointelegraph that enacting the Bitcoin Reserve Act “would mark a turning point for global Bitcoin adoption” and likely “trigger other countries and private institutions to follow suit, driving broader adoption and enhancing market liquidity.” Basel Ismail, CEO of crypto investment analytics platform Blockcircle, agreed and said approval would be “one of the most bullish events in crypto history” as “it’ll catalyze a race to acquire as much Bitcoin as possible.” “Those other nations won’t have a voice, their hand will be forced. Pivot and compete, or die.” He believes “most of the G20 nations, which are the most powerful and most economically advanced countries in the world, would follow suit and create their own reserve stash.” 2024 G20 map. Red: G20, Purple: EU represented countries, Green: African Union represented countries. Yellow: Countries permanently invited. Source: Wikipedia Veteran crypto investor and Bitcoin educator Chris Dunn said to Cointelegraph that such a FOMO-based competitive buying spree among countries could completely alter the current crypto market cycle. “If the US or another major economic power started accumulating, Bitcoin could trigger an FOMO, which could create a market cycle and supply-demand dynamics unlike anything we’ve seen so far.” Hong Fang, OKX exchange President, told Cointelegraph that other countries may already be positioning themselves for such a race. “Game theory is likely already quietly in play.” However, Ismail said much of the Bitcoin purchases would be done via over-the-counter brokers and settled as block trades, so “it may not have an immediate, direct impact on the price of BTC,” but will instead create a long-lasting demand force which will eventually push the price of Bitcoin upward. The new wave of crypto investors may alter crypto market dynamics The Bitcoin market would likely change radically if states become market buyers. A new wave of new investors from global financial centers would flood the crypto markets, changing the market dynamics, psychology and reactions to certain events. While it remains speculative to assume this legislation could disrupt Bitcoin’s well-known four-year halving cycles, several dynamics might evolve, said Nexo analyst Kalchev. Bitcoin is a unique market, driven so far by retail buying and selling with the price highly reactive to market psychology. The emergence of new types of investors could shift market dynamics, altering historical cycles. Ismail believes that “investors from the equities market will behave differently” than hyper-reactive retail investors. Institutional players bring deep pockets and advanced risk management strategies, which allow them to approach Bitcoin differently than retail investors. “Over time, Wall Street’s participation could contribute to a more stable, less reactive market environment.” Stabilization is another way of saying less volatile, which would logically mean bear markets would be less aggressive than in past cycles. Georgiades believes that “price cycles will persist,” but “sustained demand from large-scale buyers like the US could reduce volatility and the swings we’ve witnessed over past cycles.” Ismail meanwhile pointed out the Bitcoin market is already behaving differently from previous four-year cycles. Bitcoin’s price in the current cycle fell below the last cycle’s all-time high (ATH), “which everyone believed was impossible,” and then Bitcoin reached a new ATH before the formal Halving took place. “The four-year cycle has already been debunked and broken multiple times now.” Bitcoin has only seen four halvings so far, with nearly thirty halving events yet to occur. “It’s difficult to imagine that all these halvings will follow the same predictable four-year pattern,” said Kalchev, especially as broader macroeconomic and political factors—such as central bank policies and regulatory developments— exert more significant influence on Bitcoin’s market trajectory. Kalchev believes Bitcoin’s price movements will become less tied to internal mechanics like the Halving, and more influenced by external factors, such as institutional adoption and geopolitical events. Read more: Magazine: 5 real use cases for useless memecoins
Resilience and Synchronicity
From UkuriaOC, CryptoVizArt, Glassnode Executive Summary: A striking degree of similarity in the Bitcoin price trajectory can be observed across prior cycles despite vastly differing market scales, investor composition, and market structure dynamics. With price trading above $100k for a few weeks now, Long-Term Holders are taking the opportunity to distribute supply into fresh demand. This has resulted in a new ATH in realized profit being set, breaching $2.1B. A notable portion of these profit taking volumes are originating from coins aged 6m-12m, with coins older than this remaining relatively dormant in comparison. The percentage of network wealth held by new investors has surged higher, highlighting a robust demand profile, but also reflects a transition in the balance of wealth away from longer-term HODLers. Old But New 2024 has been another exceptional year for Bitcoin, with year to date returns of more than 150%, and the BTC price trading above $100k for a few weeks. When we compare price performance across cycles, we can see that the prevailing cycle is starkly similar to both the 2015-18, and 2018-21 cycles. 2015-2018: +501% 2018-2022: +1085% 2022+ Cycle: +638% This parallel becomes even more impressive when we account for the order of magnitude larger the Market Cap is between these cycles, requiring increasingly larger capital flows to support the same degree of growth. Live Chart Interestingly, the severity of market drawdowns during each bull market uptrend has declined as the market grows, despite the extreme sell-side pressure which typically accompanies aggressive upward price movements. The deepest drawdown in this cycle has been -32%, set on 5 August 2024. The majority of drawdowns have only seen the price fall -25% below the local high, masking this is one of the least volatile cycles to date. This may be a reflection of the significant demand opened up by the spot ETFs, as well as a growing interest from institutional investors. Live Chart Dissecting Losses In the drawdown profile above, the declines in August 2023 and September 2024 are the two deepest drawdowns in the current up-cycle. Both of these periods can be characterized as a point of extreme market pressure, which carried significant potential to devolve into a regime of fear and accelerating losses. We can visualize this using metrics associated with the Short-Term Holder (STH) cohort, which we often consider as a proxy for new market demand. As previously explored in our study on Seller Exhaustion, the STH cohort is the primary source of realized loss during uptrends, providing us with information regarding the top-heaviness of markets. Typically, periods of extreme market distress are characterized by a dominant portion of the coin supply falling into a position of loss (coins underwater). We can see in both of these instances (August-23 and September-24) that a super-majority of STH coins were indeed held at an unrealized loss. Live Chart However, when we measure the magnitude of unrealized losses (paper losses rather than the number of coins held in loss), we encounter a different picture. Whilst a super-majority of the STH supply (coin count) was underwater relative to their cost basis, they did not carry the extreme unrealized losses typically associated with deteriorating markets. Live Chart A similar story is apparent when we denominate Short-Term Holder losses as a percentage of their total invested wealth (divided by the STH Realized Cap). The previously mentioned periods did not lead to cascading realized losses despite the entirety of the STH supply being underwater on the position. In the chart below, we highlight (blue) periods of time where both the percentage of Short-Term Supply held in Loss and the magnitude of losses locked have moved more than 1 standard deviation from the mean. The yen-carry-trade unwind on 5 August is the only notable point where this condition was briefly flagged throughout this bull market uptrend. Live Chart Ramping Up Sell-Side Pressure In the previous section, we assessed and evaluated the impressive relative strength of the Bitcoin market, even during corrections. Next, we will switch our focus towards the demand profile, which is acting to offset sell-side pressure from existing holders, who are taking profits. Long-Term Holders have distributed a significant volume of supply into the rally up to and through the $100k price point. Sell-side pressure from LTHs has eclipsed what was experienced in March when the market set the new ATH at the time of $73k. The magnitude of this sell-side pressure is quite massive, but it is consistent with market dynamics typically experienced in the later phases of a Bitcoin bull cycle. Live Chart This has translated into a substantial volume of profits being taken by the LTH cohort, which has recently peaked at a new ATH of $2.1B/day. If we adopt a simplified assumption that every seller is matched with a buyer, this observation provides some insight into the strength of the demand side, who, by contrast, has provided an estimated $2.1B of fresh capital into the market. Live Chart Compounding on the above observation, we can see the proportion of wealth held within recently moved supply has started to increase meaningfully in recent months. This occurs as coins held by Long-Term Holders are distributed to new investors, which in turn highlights a surge in new demand-side activity. Nevertheless, the proportion of wealth held by these new investors has not yet reached the heights experienced during previous ATH cycle tops. The interpretation here is that the market may not have reached the level of euphoric fervour, and saturation by speculators seen in prior cycles. Live Chart Composition of Sell-Side After demonstrating the scale of the sell-side pressure originating from Long-Term Holders, we can increase the granularity of our assessment using age-band sub-sets of this cohort. By assessing the spent volume of coins aged older than 6 months, it appears as though the majority of sell-side pressure originates from the 6m-12m subset. These coins were more or less acquired in 2024. Notably, coins aged 3 years or more have remained relatively static in comparison, potentially requiring higher prices before the holders decide to release their coins. Live Chart Additionally, we can employ our age breakdowns of the realized profit metric to evaluate which sub-cohorts are contributing the most to sell-side pressure. Here, we calculate the cumulative profit-taking volume by age since the start of the Nov-2024. 6m-1y Realized Profit: $27.3B 1y-2y Realized Profit: $12.7B 2y-3y Realized Profit: $8.1B 3y-5y Realized Profit: $10.1B 5y+ Realized Profit: $12.6B Coins aged between 6 and 12 months dominate the prevailing sell-side pressure, accounting for 38.5% of the total, providing confluence to the above observation. Live Chart We can additionally bolster our thesis by assessing the URPD segregated by holding age. Here, we again note a significant amount of coins aged 2yrs-5yrs old remain changeless, underscoring the notion that higher prices are required to relinquish their coins. Looking Upwards To close, we can now turn our attention to the AVIV Ratio which helps us assess the average unrealized profit (paper gains) held by investors that are active within the market. We can utilize this metric to gauge whether the market is currently over/under heated relative to the profitability of its participants. Typically, Bull Markets reach their conclusion when all denominations of investors are in substantial profits, leading to enormous supply-side pressure coupled with an acute lack of new investors willing to buy at the current price. At the moment, the AVIV Ratio has not yet reached its extreme band of +3σ, suggesting there may be room for the market to run before the profit held by the average investor becomes too tempting. Live Chart Summary and Conclusions Supply-side forces are becoming increasingly prominent as Long-Term Holders continue to actively distribute coins on a large scale, resulting in an impressive $2.1 billion in realized profit. However, a strong demand side is also evident, largely counteracting the significant selling pressure from existing holders. In addition, the proportion of network wealth held by new investors has risen sharply, supporting the notion of a robust demand profile. Nevertheless, this indicates a shift in wealth distribution away from mature investors, which typically occurs during the later stages of Bull Markets. Disclaimer: This report does not provide any investment advice. All data is provided for information and educational purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions.
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