Coin overview
MAJOR
Mapped
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Last price (USDT)
27.44K
24h total (USDT)
338.41K
Total vol (USDT)
2024-08-08 11:00:00 ~ 2024-11-14 06:00:00
Trading time (UTC+0)
-
Delivery time (UTC+0)
Introduction
Major is the first rating game in Telegram. You get the rating for Stars. The more Stars you get — the higher is your rating! Stars can be earned for completing daily tasks, for referrals and for other users' votes for your profile.
Major project's new features revealed: NFT achievements, number rental rewards upgraded across the board
On December 24th, the Telegram ecosystem project Major announced multiple new features, bringing a fully upgraded interactive experience to community users. The official announcement states that the NFT achievement system will be launched in early January next year, allowing users to convert all achievements collected on the platform into NFTs as the basis for future application rewards. The new features will bring users more diverse incentives, and also mean that Major is injecting stronger innovation vitality into the new year. According to the display content, the application interface of Major is about to be refreshed. Users can access the new NFT market within the platform, manage anonymous numbers, usernames, and NFT achievements, and at the same time activate the "rental market" function, flexibly renting its resources to earn token income. With these new features, Major plans to launch more innovative gaming experiences and staking options, allowing users to receive real rewards in the interactive process. In addition, Major has launched special rewards for high-value number users. Recently, the official announced a triple reward for the first 100 users who rent + 888 NFT numbers, and short-term rental options will also be launched soon. Through this plan, Major hopes to provide greater incentive space for highly active users and encourage more users to join the ecological interaction. As an important member of the Telegram ecosystem, Major has attracted the attention of the global community with its innovative feature design and reward mechanism. The launch of the NFT achievement system and the reward program indicate further breakthroughs for Major in community building and User Experience.
Users can convert achievements earned in the Major App into NFTs in early January
On December 24, according to the official tweet of Major, Major users can convert their collected achievements into NFTs in early January, and these achievements will affect the number of rewards users receive. In 2025, Major will bring a new gaming platform and a brand new staking model.
Investigation Suggests Former Fortnite Player Linked to $3.5 Million in Memecoin Scams
The crypto community is abuzz following revelations from blockchain investigator ZachXBT that link a former professional esports player to significant memecoin scams, raising serious concerns about security in the space. According to ZachXBT, the alleged scams have resulted in the loss of approximately $3.5 million, further emphasizing the vulnerabilities present in digital assets and online trading. “Over the past few months, I have been tracking a series of related compromises… which has resulted in an estimated $3.5M+ stolen via launching Pump Fun meme coins,” stated ZachXBT. This article investigates the alarming connection between a former Fortnite player and memecoin scams netting $3.5 million, underscoring the importance of security in crypto. Unmasking Serpent: The Allegations and Implications of Memecoin Scams The investigation led by ZachXBT reveals the extent to which the Australian ex-esports player, known as Serpent, finds himself entwined in a web of memecoin scams. With wallet addresses directly linked to the individual, the nature of these scams raises questions about accountability in the fast-evolving world of digital currencies. The Fallout from Compromised Accounts and Their Impact on Brands Major brands, including McDonald’s and celebrities such as Usher, have reportedly fallen victim to the malicious practices orchestrated through hacked social media accounts. ZachXBT’s investigation indicates that these account takeovers were leveraged to promote fraudulent memecoins, generating substantial illicit profits. As the public becomes more aware of these scams, the reputational risk for brands involved could lead to long-lasting repercussions. Investigation Findings: How the Scams Were Executed ZachXBT’s thorough analysis of Serpent’s activities highlights several techniques frequently exploited by scammers: from hacked verified accounts to phishing schemes and fake websites. Notably, Serpent’s project, dubbed “ERROR,” is suspected to be a rug pull, effectively siphoning funds from unsuspecting victims, which aligns with warnings he issued in previous posts on security vulnerabilities. Social Media: The Double-Edged Sword Serpent’s rise and fall serve as a stark reminder of the potential dangers lurking within social media platforms. Previously positioned as a cybersecurity analyst, his transition into orchestrating scams illustrates a significant lapse in integrity. The community’s trust is essential for healthy cryptocurrency discourse, and incidents like these can swiftly erode confidence. Gaming Background: A Contradiction of Roles Having been expelled from the esports organization Overtime in 2020 for alleged cheating, Serpent’s history within both the gaming and cybersecurity realms raises critical questions. How does one shift from being an analyst warning against the very scams they later purportedly execute? This contradiction leaves a troubling mark on the industry and signals a need for stronger vetting processes. Gambling Addiction: A Compounding Issue Further complicating matters, reports suggest that Serpent may have been utilizing the proceeds from these scams to fund gambling, exposing another layer of his character. The connecting addresses used for online gambling match those implicated in the scams. This aspect not only highlights a personal crisis but also raises concerns regarding the financial management practices in the cryptocurrency ecosystem. Lessons Learned and Future Considerations The unfolding saga involving Serpent serves as a critical learning opportunity for the crypto community. Users are urged to remain vigilant, conduct thorough due diligence, and approach investments in memecoins and similar assets with caution. As ZachXBT pointed out, the data and evidence collected point to a systemic issue that warrants further discussion within the community. Conclusion The implications of this case extend beyond Serpent alone; they encapsulate the significant risks associated with the crypto landscape. As fraudulent activities become more sophisticated, both investors and platforms must collaborate to enhance security measures. With ongoing vigilance and proactive measures, the community can work to prevent further breaches and restore faith in digital currencies. In Case You Missed It: Bitcoin's Volatility: Insights on Managing Risks Amidst Recent Price Fluctuations
Tornado Cash Sanctions Deemed Unlawful by Appeals Court in Major Crypto Win
A U.S. Appeals court has sided with Tornado Cash users against the U.S. Treasury Department. The ruling has been hailed as a big win for crypto, privacy, and open-source technology. Experts have weighed in on whether the recent ruling has any implications for the project’s developers, who are facing criminal charges. When the U.S. Department of Treasury’s Office of Foreign Asset Control (OFAC) sanctioned the notorious crypto mixer Tornado Cash in August 2022, outlawing the protocol’s use in the U.S. and by U.S.-facing entities, several crypto and privacy advocates were quick to cry foul . Several legal proceedings later, these advocates have now gotten a court to agree with them in a ruling hailed as a massive victory for crypto, privacy, and open-source technology. Immutable Smart Contracts Are Not Property A U.S. Appeals court has sided with Tornado Cash users against the U.S. Treasury Department. In a Tuesday, November 26 ruling , the court held that the Treasury exceeded its congressionally allowed authority when it sanctioned Tornado Cash, reversing an August 2023 district court decision . Sponsored In the recent ruling, the court stressed that Tornado Cash’s immutable smart contracts did not fall into the definition of property or service owned by a foreign entity as the open-source code could not be owned, controlled, or changed, even by its creators. "OFAC's concerns with illicit foreign actors laundering funds are undeniably legitimate. Perhaps Congress will update IEEPA, enacted during the Carter Administration, to target modern technologies like crypto-mixing software. Until then, we hold that Tornado Cash's immutable smart contracts (the lines of privacy-enabling software code) are not the 'property' of a foreign national or entity, meaning (1) they cannot be blocked under IEEPA, and (2) OFAC overstepped its congressionally defined authority," the ruling read. The court also noted that despite the Treasury Department’s designation of Tornado Cash, the software continued running, potentially placing liability risks on U.S. crypto users. "Simply put, regardless of OFAC's designation of Tornado Cash, the immutable smart contracts continue operating. And furthermore, because the software continues to operate regardless of the sanctions, and the blockchain technology 'allows peer-to-peer transfers... without requiring the recipient to consent to transfer,' some users may become liable whenever someone transfers them digital assets via Tornado Cash, even without their knowledge," the ruling read. Unsurprisingly, the victory in the case pursued by six Tornado Cash users backed by Coinbase has sparked significant celebration across the crypto space. A Big Win for Crypto Several crypto community members have hailed the recent ruling as a significant victory for the industry. "Privacy wins. Today the Fifth Circuit held that the Treasury’s sanctions against Tornado Cash smart contracts are unlawful. This is a historic win for crypto and all who cares about defending liberty," Coinbase CLO Paul Grewal enthused . Similarly, Consensys Senior Counsel Bill Hughes described the ruling as “a good win” for the industry. The views come as the ruling offers legal recognition of the immutability of smart contracts. At the same time, it also provides significant clarity for open-source developers. As such, the ruling has been tipped to boost crypto innovation. Following the ruling, a key question has been what it means for Tornado Cash developers Alexey Pertsev, Roman Storm, and Roman Semenov. In May 2024, a Dutch court sentenced Pertsev to 64 months in prison for money laundering for his role in creating the crypto privacy protocol. Storm and Semenov face similar charges in the U.S. , though Semenov’s whereabouts remain unknown. An Entirely Different Matter? Responding to questions about how the ruling impacts the Storm and Semenov case, Consensys Senior Counsel Bill Hughes argued it was an entirely different issue. "completely different deal altogether. This doesn't say that Tornado Cash wasn't a service generally, but that the immutable smart contracts that were part of the software suite that the platform included were not. DOJ says Roman was running a service that violated sanctions, illegally transmitted money, and facilitated money laundering. This doesn't change those allegations," he stressed, likely referring to the project's front end. Alexey Pertsev is working to appeal his conviction in the Netherlands. In January 2024, Storm launched a fundraiser to cover legal fees. On the Flipside The recent ruling does not end the case but refers it back to the district court for reevaluation. The ruling does not appear to have much implication on the separate charges faced by the project’s developers. Why This Matters The Tornado Cash ruling represents a significant milestone in the push to ensure protections for smart contract code. Read this for more on Tornado Cash: Tornado Cash Co-Founder Seeks $1M in Additional Funding to Lodge an Appeal Learn about YeagerAI’s oracle solution: How YeagerAI Is Allowing dApps to Access Real-World Data More Efficiently
As Major Cryptos Recover From Recent Dip, New Meme Coin Pepe Unchained’s Presale is Unstoppable, 16 Days Left
Last updated: November 27, 2024 11:20 EST After pulling back sharply from last week’s highs, major cryptos are on the front foot once again this Wednesday, while a new meme coin called Pepe Unchained ($PEPE)’s presale momentum is unstoppable. Traders are rushing into the ICO ahead of the token’s launch in just 16 days. Bitcoin ($BTC) dipped to $91,000 on Tuesday after nearly touching $100,000 last week, but has since recovered to nearly $96,000, per TradingView data. Other crypto majors are also pushing higher on Wednesday, with the likes of Ethereum (ETH), Solana (SOL), BNB (BNB), XRP (XRP) and Dogecoin (DOGE) each up 5-10% in the past 24 hours, per CoinMarketCap . With the broader market looking set to continue its stunning post-US election surge, Pepe Unchained’s presale continues to fly, having now raised nearly $55 million, making it one of the most highly anticipated token launches of this year. As noted, the token will launch across CEXs and DEXs in just 17 days. And, while nothing has been officially announced yet, social media is buzzing with chatter around potential listings on the likes of ByBit, KuCoin, OKX, and even Coinbase and Binance. Listing on a major tier-1 exchange would be a significant boost for $PEPU. Centralized exchanges (CEXs) have a vast user base, and listings generate a lot of new hype and interest in the project. Major cryptocurrencies are likely to remain on the front foot in the coming weeks, as optimism ahead of incoming US President Donald Trump’s arrival in the White House remains high. An expected rebound into the year’s end will keep meme coin markets hot – making it the perfect time for Pepe Unchained to launch. Thanks to its unique value proposition as a meme coin and an innovative layer-2 blockchain protocol, experts predict massive things for $PEPU in 2025. The likes of 99Bitcoins , ClayBro and analysts at cryptonews.com are all making 10x to 100x gains calls on their YouTube channels. New Meme Coin Pepe Unchained – Here’s What You Need to Know Unlike many meme coins that rely purely on speculative excitement, $PEPU introduces an innovative layer-2 blockchain solution built on top of Ethereum. Marketed as the future home of meme trading, Pepe Unchained’s “Pepe Chain” promises faster transactions and lower fees, directly addressing the scalability issues of the Ethereum network. The layer-2 protocol’s code has already passed a major audit. LAYER 2 AUDIT COMPLETE Today we have some exciting news to share with the community! As you’ve probably noticed, the presale is ending in less than a month. The token and fully operational Layer 2 will launch a few days after the presale has concluded. We are happy to share… pic.twitter.com/huhsEGj71U — Pepe Unchained (@pepe_unchained) November 18, 2024 This utility as an innovative blockchain protocol could attract a broader user base to $PEPU beyond just meme enthusiasts. And Pepe Unchained isn’t just building a blockchain. The new meme coin is busy at work building out an entire ecosystem with features like a dedicated DEX, a block explorer, and developer grant applications are already being reviewed to foster a vibrant community of builders and users. Pepe Unchained L2 Sneak Peek! What we're building is not just a new chain, but an entire ecosystem. 🐸Pepe Unchained L2 🐸Block Explorer 🐸DEX 🐸Bridge 🐸Advanced Analytics 🐸Builder Grants Pepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF — Pepe Unchained (@pepe_unchained) September 26, 2024 Possibly the most exciting news for the market is that Pepe Unchained plans to launch Pepe’s Pump Pad, a platform where users can create and launch their own new meme coins with minimal technical knowledge, in just a few clicks. This tool aims to democratize coin creation, potentially increasing the number of projects within the Pepe Unchained ecosystem, which would drive up demand for $PEPU as the native token. Pepe's Pump Pad is a 2-Click Meme Coin Launchpad built on Pepe Unchained L2. Here, users will be able to launch their own meme coins with zero coding knowledge. — Pepe Unchained (@pepe_unchained) November 6, 2024 Meme coins have been some of the best-performing cryptos so far in 2024 and their outperformance could accelerate into 2025 amid a more favorable US regulatory backdrop. Expect Pepe Unchained to lead the meme coin charge in 2025, as investors hunt for high-potential utility coins with a strong narrative. $PEPE Is Also a Passive Income Gem? So, we have already established that Pepe Unchained has a ton of utility, and, as a result, is likely to attract a broader base of users beyond just meme coin speculators. But a fact going under the radar is that $PEPU is also one of crypto’s most promising passive income gems. Indeed, DeFi farmers are flocking to the token, which is currently returning 62% APY to presale investors. $PEPU can offer these early rewards because 30% of the 8 billion token supply has been reserved for staking rewards. That means that, unlike most other meme coins, which are predominantly traded by speculators looking to get in and out quickly, Pepe is attracting a base of investors with a longer-term mindset. Moreover, generous staking rewards reduce the risk that $PEPU presale investors could dump their tokens if the price pumps post launch, as these staking rewards (paid out in $PEPU) would grow proportionately with the price. Against the backdrop of its spectacular presale success, fast-rising social media hype, and the prospect of tier-1 exchange listings, Pepe Unchained is showing all the signs of becoming the next multibillion-dollar meme coin. At the current price of $0.01295, which gives $PEPU a valuation of around $100 million fully diluted, diamond-handed presale investors could bank gains of 10x or more with $PEPU. This is not a presale to miss, and interested investors have less than 16 days to get in on the ground floor. Readers can learn more about Pepe Unchained by checking out the official website and whitepaper . The project’s smart contract is fully audited by SolidProof and $PEPU can be easily bought with ETH, USDT or bank card. Visit the Pepe Unchained presale .
Will Teresa, who may take charge of the SEC, become a crypto-friendly sword-wielder?
Written by: Web3 Farmer Frank On November 21, a piece of news froze on the official website of the U.S. SEC, and the crypto world cheered. Gary Gensler may not have anticipated that he would rise and fall with crypto. Even though it would be normal for him to leave after 26 years, he still decided to step down on the day Biden resigned and Trump was inaugurated. The merits and demerits of Gary Gensler's tenure will be judged by future generations. However, the reasons for his early departure, aside from pressure from Congress and institutions, cannot overlook the fact that "crypto president" Trump had threatened to dismiss Gensler upon taking office and appoint the crypto-friendly blockchain legal expert Teresa Goody Guillén as the chair of the U.S. SEC. So who is Teresa Goody Guillén? Why has she won Trump's favor? If she takes the helm of the U.S. SEC, what different variables might she bring to the crypto industry? The Major Shift in Crypto Regulation at the U.S. SEC During the "Trump Era" Since April 17, 2021, the U.S. SEC under Gary Gensler has become synonymous with a "big stick" in the crypto industry, almost encompassing all major enforcement actions in recent years: Whether it was the large-scale lawsuits against crypto exchanges Binance and Coinbase, or the firm stance of classifying most crypto assets as securities, in just three and a half years, the U.S. SEC has completed over 2,700 enforcement actions and collected more than $21 billion in fines in the crypto industry. As a former MIT professor who taught blockchain technology courses, Gary Gensler's iron-fisted regulatory policies have stirred up storm after storm in the crypto market, causing the high hopes that the crypto industry had for him at the beginning of his tenure to dissipate. Evaluations quickly polarized, making him the most controversial figure in the crypto industry. In the 2024 U.S. presidential election, Trump has become a beacon of hope for the crypto industry. Trump has repeatedly criticized Gary Gensler's crypto regulatory policies, even stating in public speeches that if he is successfully elected president, he will remove Gary Gensler from his position on his first day in office. In Trump's reform plan, finding an SEC chair who understands both traditional finance and the crypto industry is of utmost importance. For this reason, Teresa Goody Guillén, with her unique cross-disciplinary background and industry support, has gradually become a potential hot candidate for the new SEC chair: this seasoned securities law expert not only has extensive experience in traditional finance but also maintains close cooperation with blockchain companies, possessing a deep understanding of the operational logic of the crypto industry. Who is Teresa Goody Guillén, the "Potential Successor" to the U.S. SEC? According to public information, Teresa Goody Guillén is currently a partner and co-head of the blockchain team at BakerHostetler law firm. She joined in January 2019 and leads a team handling legal matters related to blockchain technology and digital assets, accumulating rich practical experience in areas such as blockchain technology, digital assets (including NFTs), DAOs, and DeFi. Additionally, Teresa Goody Guillén has served as a litigation attorney in the Office of the General Counsel at the U.S. SEC and held senior positions at Kalorama Partners, focusing on corporate compliance, risk management, and legal strategic consulting, as well as at The Goody Group LLC and Goody Counsel PLLC. 2009 - 2011: Served as a litigation attorney in the Office of the General Counsel at the U.S. SEC, handling complex securities litigation and enforcement-related matters; 2011 - 2015: Joined Kalorama Partners, founded by former U.S. SEC Chair Harvey Pitt, as Chief Operating Officer and Managing Director, providing consulting services for clients on SEC enforcement cases in collaboration with Harvey Pitt; 2015 - 2019: Co-founded The Goody Group LLC & Goody Counsel PLLC and served as CEO; This showcases Teresa's unique cross-professional background: her experience at the SEC provides her with a solid foundation in traditional securities law, while her deep involvement in the blockchain field makes her a rare professional at the intersection of law and technology. Coupled with her academic teaching experience, it further enhances her authority in this area. Notably, BakerHostetler has taken on several important blockchain-related cases in recent years and provided legal consulting services to various Web3 projects. The team led by Teresa is particularly adept at helping startups navigate complex regulatory challenges, such as developing compliance strategies, responding to regulatory investigations, and defending clients in litigation. It is understood that the team under Teresa has collaborated with well-known blockchain projects like the decentralized "AI Data Chain" Masa, assisting in promoting the application of Web3 innovative technologies within a legal framework. Teresa's public stance on the crypto industry has always been seen as "friendly." She has pointed out on multiple occasions that the U.S. should adopt a more open attitude when formulating crypto regulations and provide a supportive framework for technological innovation, rather than employing a hardline strategy of "regulation by enforcement." This viewpoint has earned her widespread support from the Web3 community. Will the U.S. SEC Enter an "All-Out Embrace of Crypto" Era? From the current signs, Teresa becoming a hot candidate for the U.S. SEC chair is not only due to her personal resume aligning with the comprehensive needs of a "Trump Era" SEC chair but also reflects the market's strong expectation for a "policy shift" in crypto regulation: In the eyes of the industry, she is an ideal candidate who can deeply understand traditional financial rules while providing support for Web3 innovation. If she ultimately succeeds Gary Gensler, it could lead the U.S. SEC down a completely different path, injecting new vitality into the U.S. crypto industry. It is important to note that one of the biggest obstacles currently facing the U.S. crypto industry is regulatory uncertainty. The "Financial Innovation and Technology Act of the 21st Century" (FIT21 Act), which passed the House with an overwhelming majority of 279 votes to 136 on May 22, is key in delineating regulatory authority, clearly defining that there are two agencies responsible for regulating crypto assets: the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. SEC. Teresa has publicly expressed her desire to establish a new classification system for digital assets, allowing crypto assets to no longer be entirely subject to the traditional Howey test, arguing that the Howey test should not determine the future of the industry or technology. If this idea comes to fruition, it will undoubtedly provide the industry with a set of executable and clear rules, significantly reducing uncertainty and attracting more institutional capital into the crypto space, driving the institutionalization wave of crypto assets. Brendan Playford, co-founder of Masa, commented: "Teresa is the change agent the U.S. SEC desperately needs. She focuses on light-touch regulation, believes that the Howey test should not determine the future of the industry or technology, and will end the current situation of 'regulation by enforcement,' uniting all key participants from Wall Street and the crypto industry to collaboratively establish clear market structures, allowing the crypto industry to thrive in the U.S. As a lawyer challenging current SEC policies in Washington, D.C., and defending the rights of crypto innovators, her qualifications far exceed what is required—'Let the SEC be 'Goody' again!'" Conclusion If Teresa Goody Guillén is appointed, it will undoubtedly mark an unprecedented policy shift for the U.S. SEC, likely allowing it to break free from the current predicament of regulation by enforcement and reshape the competitiveness of the U.S. crypto industry through light-touch regulation and clear market rules. Especially as a legal expert well-versed in traditional financial rules and proficient in blockchain technology, her good collaborative experiences with blockchain projects like Masa also imply that the future crypto industry could establish more direct and pragmatic communication channels with the U.S. SEC through her. As a "bridge between technology and regulation," Teresa can more acutely capture industry needs and design a regulatory framework that balances innovation and compliance for the crypto market. However, amid expectations, challenges also arise—can Teresa balance the interests of traditional financial institutions with those of the emerging crypto industry? How will she protect investor interests and maintain market stability during the transformation? The answers to these questions may be revealed after her appointment.
Cardano Network Activity Hits 2023 Highs: Is $1.5 ADA Possible?
Cardano’s rising network activity suggests the potential for ADA to retest $1 and possibly reach $1.5 if bullish momentum continues. Despite ADA’s recent dip, key indicators like the 9-day moving average suggest that ADA could still find support and drive toward higher levels. Cardano’s network activity recently reached its highest levels since June 2023, signaling growing user engagement. As long anticipated in a previous CNF update , Cardano Network Poised for Major Leap: ADA Founder Hints at Exciting Development. Despite this previous setback , long-term holders remain confident, with stable metrics showing many addresses holding ADA for over a year. According to IntoTheBlock, an AI-powered, programmable financial services platform, a recent tweet revealed that ADA finally reclaimed the $1 level this weekend. While the price is consolidating now, network growth is surging. $ADA finally reclaimed the $1 level this weekend, and while price is consolidating now, network growth is surging. The number of new user addresses hit its highest levels since June 2023. Is this the beginning of a larger breakout? pic.twitter.com/HzTIrenplC — IntoTheBlock (@intotheblock) November 25, 2024 Importantly, the surge in new user addresses suggests increasing investor interest, often a precursor to price hikes. While ADA briefly crossed the $1 mark last week, it has since dipped, trading at $0.984 at press time after a 6% drop in the last 24 hours. Mixed Market Signals Although trading volume has decreased, indicating potential for a trend reversal, other indicators show caution. ADA’s social volume has declined, reflecting a drop in popularity, and the token’s MVRV ratio has fallen following the price correction. However, the Moving Average (MA) cross suggests that bulls still have an edge, with ADA likely finding support near its 9-day MA. A slip below this level could lead to a retreat into the $0.6-$0.8 range. Path to $1.5 Still in Sight If the surge in network activity translates into renewed bullish momentum, ADA could retest the $1 resistance level. A successful breakout might push the token toward the $1.5 range, offering investors a reason to remain optimistic. The coming weeks will determine whether the increased activity can sustain a rally or if the current consolidation phase continues. As of today’s price, ADA’s price shows a very positive signal, hitting $1.00 with an increase of 12.35% in the past day and 21.75% in the past week, reflecting broader market pressures. See ADA price chart below. Recommended for you: Buy Cardano Guide Cardano Wallet Tutorial Check 24-hour Cardano Price More Cardano News What is Cardano?
Bitcoin Price Bounces Back: Will the Climb Continue?
Bitcoin price is recovering higher above the $94,000 level. BTC is consolidating and aims for a fresh increase above the $97,000 level. Bitcoin started a fresh increase from the $91,000 zone. The price is trading above $95,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $95,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $97,000 resistance zone. Bitcoin Price Recovers Losses Bitcoin price found support near the $91,000 zone. BTC formed a base and started a fresh increase above the $93,500 resistance zone. The bulls were able to push the price above the $95,000 resistance zone . The price surpassed the 50% Fib retracement level of the downward move from the $98,880 swing high to the $90,735 low. There is also a connecting bullish trend line forming with support at $95,750 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average . On the upside, the price could face resistance near the $97,000 level. It is near the 76.4% Fib retracement level of the downward move from the $98,880 swing high to the $90,735 low. Source: BTCUSD on TradingView.com The first key resistance is near the $98,000 level. A clear move above the $98,000 resistance might send the price higher. The next key resistance could be $99,200. A close above the $99,200 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $97,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,750 level. The first major support is near the $95,000 level. The next support is now near the $93,000 zone. Any more losses might send the price toward the $91,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $95,750, followed by $95,000. Major Resistance Levels – $97,000, and $98,000.
Popcat Price Prediction: POPCAT Plunges 26% In A Week As This New Cat Meme Coin Soars 2,723%
The Popcat price is down more than 26% on the weekly time frame despite a slight 24-hour gain to trade at $1.23 as of 7:30 a.m. EST as traders dump their holdings in the meme coin. With the drop over the last 7 days, the POPCAT price is also down more than 40% from the all-time high of $2.07 that it set just 10 days ago. Popcat Price At Risk Of Losing A Vital Support 4-hour chart for POPCAT/USD (Source: GeckoTerminal) The Popcat price has printed multiple lower lows and lower highs on the 4-hour chart in the last couple of days, resulting in the formation of a negative medium-term descending channel. Now, the meme coin is testing the key support level at $1.2548. Should it lose the support of this price point, POPCAT stands the risk of dropping all the way down to $0.9168. However, the Popcat price maintaining a position above $1.2548 for the next 12 hours could invalidate the bearish thesis. In this alternative scenario, the meme coin’s price might start to rise. Traders could end up pushing the value of Popcat out of the negative price channel. Escaping this negative range might then lead to a challenge of the $1.5606 resistance. In an extremely bullish case, the Popcat price could rise to as high as $1.8824 in the short term. Technicals Suggest Bulls Are Trying To Take Control Of The Popcat Price From a technical perspective, there are signs on POPCAT’s 4-hour chart that suggest bulls are trying their best to take back control of the meme coin’s price. In the last couple of hours, Relative Strength Index (RSI) readings have started to level off in the low 30s. This suggests weakening seller strength. In addition to the leveling RSI values, the Moving Average Convergence Divergence (MACD) line has started to rise toward the MACD Signal line. This narrowing gap could be an early indication of a bullish reversal of POPCAT’s current negative trend. A confirmation of this shift in momentum might be if the MACD line crosses above the MACD Signal line. As POPCAT tries to overcome bearish pressure, investors are flocking to meme coin rival Catslap (SLAP) for potential parabolic gains. A Cat-Themed Meme Coin Taking The Crypto World By Storm Catslap (SLAP) is a new meme coin project that is off to a very strong start after launching less than a week ago. Already, more than 7,000 wallets hold the meme coin. Additionally, the project has a market cap of more than $28.5 million, with over $850K worth of SLAP already staked. A possible reason behind this exceptional start could be the team’s decision to avoid the traditional presale route and instead give every investor an equal opportunity to get in on the ground stage of the project. By launching on a decentralized exchange (DEX) from the get-go, SLAP will likely not undergo the post-presale correction that new project’s suffer when they enter the open market. There are other reasons that are contributing to the meme coin’s success at this early stage. One of these factors is the large burn initiatives that Catslap has in the works. With these potential burns, the value of SLAP, which has skyrocketed over 2,723% in just six days, will likely continue to rise as less tokens are made available. The team will also add a play-2-earn (P2E) element to the project’s viral slap game. With this P2E element, Catslap could follow the same growth trajectory as the Telegram clicker game, Hamster Kombat. Prominent analyst and YouTuber ClayBro recently told his over 130K subscribers that Catslap might be the next 50X opportunity in the meme coin space. Catslap Team About To Make A “Major Announcement” Catslap’s team will be making a major announcement in less than 8 days. Will the team announce a potential exchange listing on a major platform like Binance or Coinbase, or something else? Given the success of the project since its launch less than a week ago, this upcoming announcement will likely have a positive effect on SLAP’s price. To get in on the token ahead of the major announcement, investors can use the widget embedded on the project’s website. Selling for $0.00340401, SLAP can be bought with either ETH, USDT, or bank card. Purchase SLAP here before the major announcement. Related Articles: Trump Team Mulls CFTC Oversight Of Major Part Of Crypto Market DeFi TVL Reaches 2021 Level, Crypto All-Stars Rockets Past $6M Most Trending Cryptocurrencies on Polygon
PNUT, CHILLGUY & RUGRAT: New Just a chill guy & Peanut the Squirrel Rival Makes Major Waves
The meme coin space continues to dominate the cryptocurrency market, with new entrants making their presence felt alongside established players. 1900Rugrat (RUGRAT) , the latest addition to the meme coin family, is rapidly gaining attention, posing a serious challenge to well-known tokens like Peanut the Squirrel (PNUT) and Chill Guy (CHILLGUY). This article explores how 1900Rugrat (RUGRAT) is carving its niche in the market and why it’s set to rival some of the biggest names in the game. The Rise of RUGRAT: A New Contender 1900Rugrat (RUGRAT) burst onto the scene with an ambitious mission: to become the most influential meme coin of the new bull run. Unlike many meme coins that rely solely on hype, 1900Rugrat (RUGRAT) has introduced a comprehensive ecosystem focused on community participation, viral marketing, and strategic tokenomics. The token’s mascot—a mischievous cartoon rodent representing hustle and resilience—has resonated strongly with younger investors, especially on platforms like TikTok and Reddit. Within weeks of its launch, 1900Rugrat (RUGRAT) attracted substantial attention due to its upcoming listings on major decentralized exchanges and a unique staking mechanism that offers high rewards to early adopters. These elements have placed it in direct competition with market veterans like Peanut the Squirrel (PNUT) and Chill Guy (CHILLGUY). Peanut the Squirrel (PNUT): The Established Giant Peanut the Squirrel (PNUT) has long been a household name in the meme coin space. With a market cap exceeding $1 billion, it is known for its loyal community and explosive price rallies. The token capitalized on the charm of its mascot—a cunning squirrel hoarding “nuts” of value—to capture the imagination of crypto enthusiasts. While Peanut the Squirrel (PNUT) remains a dominant player, it is beginning to face competition from 1900Rugrat (RUGRAT) . Investors are keeping a close eye on the new token, drawn by its fresh approach to community engagement and its innovative marketing strategies. Some PNUT whales have already started diversifying into 1900Rugrat (RUGRAT) , recognizing its potential to outperform other tokens in the meme coin ecosystem. Chill Guy (CHILLGUY): The Viral Phenomenon Chill Guy (CHILLGUY) has been a cultural sensation, driven by its laid-back mascot—an anthropomorphic dog in casual attire—and viral appeal on platforms like TikTok. The token’s meteoric rise to a $461 million market cap in just ten days was fueled by endorsements from high-profile figures, including El Salvador’s president, Nayib Bukele. However, Chill Guy (CHILLGUY) is now contending with market saturation and challenges like intellectual property disputes. Despite these setbacks, it continues to maintain a strong foothold in the market. The arrival of 1900Rugrat (RUGRAT) , though, introduces a fresh rival capable of disrupting Chill Guy (CHILLGUY)’s dominance. 1900Rugrat (RUGRAT) ’s appeal lies in its dynamic marketing campaigns and a community-driven governance model, both of which have been key to its early success. What Makes RUGRAT Stand Out? 1900Rugrat (RUGRAT) has quickly captured investor attention due to its innovative features: Engaging Narrative: The token’s branding, centered around its scrappy rodent mascot, has struck a chord with investors looking for the “next big thing.” Lucrative Tokenomics: 1900Rugrat (RUGRAT) introduces a deflationary mechanism and staking rewards, creating scarcity and driving demand. Community-Centric Approach: 1900Rugrat (RUGRAT) emphasizes transparency and community involvement, making it a trustworthy option for new and seasoned investors alike. Upcoming Listings: With planned launches on high-profile exchanges, 1900Rugrat (RUGRAT) is set to gain significant liquidity and visibility. The Market Dynamic: 1900Rugrat (RUGRAT) vs. PNUT and CHILLGUY The rivalry between 1900Rugrat (RUGRAT) , Peanut the Squirrel (PNUT), and Chill Guy (CHILLGUY) represents the dynamic nature of the meme coin market. While PNUT and CHILLGUY have established themselves as market leaders, 1900Rugrat (RUGRAT) brings a fresh perspective, capturing the interest of a new generation of investors. Early reports suggest that 1900Rugrat (RUGRAT) has already onboarded major crypto whales from both the Peanut the Squirrel (PNUT) and Chill Guy (CHILLGUY) communities. These investors recognize the explosive potential of 1900Rugrat (RUGRAT) and are eager to get in before its anticipated price surge following upcoming exchange listings. Conclusion The battle for supremacy in the meme coin market is heating up, with 1900Rugrat (RUGRAT) emerging as a strong contender against stalwarts like Peanut the Squirrel (PNUT) and Chill Guy (CHILLGUY). With its innovative features, viral appeal, and robust community support, 1900Rugrat (RUGRAT) is poised to make major waves in the crypto world. Investors looking for the next big opportunity should keep a close watch on this promising newcomer as it challenges the status quo and reshapes the meme coin landscape. For more information on 1900Rugrat (RUGRAT): Visit 1900Rugrat (RUGRAT) Join and become a community member: Telegram: https://t.me/rugrat_1900rugrat X/Twitter: https://x.com/1900rugrat_sol
Art Blocks NFT Project Takes 'Major Leap Forward' on Ethereum
Art Blocks, the popular platform and collective for on-chain artwork, announced on Wednesday that it has achieved a longstanding goal: ensuring that the vast majority of its projects can now be accessed and viewed solely by navigating the Ethereum blockchain. While all Art Blocks projects have been created on Ethereum since the collective launched in 2020, those pieces have always required a back-end generator provided by the company to be viewable online. Now, however, even the mechanisms needed to view and enjoy some 90% of all Art Blocks pieces have been configured on-chain. That means that as long as the Ethereum blockchain exists, those artworks will be viewable online, regardless of whether Art Blocks as a company continues to operate and host those works. The vast majority of Art Blocks pieces that can now be viewed purely on-chain were initially created with one of two commonly used programming tools: p5js and threejs. The remaining 10% of pieces, which still require a third party’s assistance to be viewed, relied on other tools. In a blog post today, on Art Blocks’ fourth anniversary, company founder Erick Calderon called the achievement a “major leap forward.” “You're no longer dependent on Art Blocks or any other platform,” Calderon said. “These works represent a fundamental shift in how art can be created, collected, and preserved.” Art Blocks says it will continue to rely on a centralized generator as the primary means to visualize its pieces online. But it maintains that enabling full on-chain accessibility for these works is crucial to the company’s long-term mission of creating infrastructure for “a new chapter in art history.”
SUI Eyes Next ATH Target Between $4.7 and $5.2 as Analyst Expects Major Surge Ahead for Sui Price
Bitcoin continues its steady sideways movement in a healthy correction phase. Altcoins have begun to show strong bullish indicators as BTC recovers. Analyst sets next ATH target for SUI between $4.7 to $5.2. With Bitcoin (BTC) trading between the $92,000 to $95,000 price range since entering a healthy correction phase, the market sentiment takes a bit of a hit going from an extreme greed zone to simply a greed zone with a score of 75 . Despite this, analysts are optimistic about seeing a $1000,000 ATH for BTC price soon. Altseason Sentiment Grows as Altcoins Pump Since BTC set its recent all-time high (ATH) of $99,655.50, seasoned analysts expect a 6-digit target to arrive soon after the ongoing healthy correction phase plays out. Some analysts are expecting an even greater dip in BTC price but are adamant about buying the dip to make the best of the coming super cycle pump. As traders and analysts patiently await for BTC price to recover, their watchful eyes have temporarily shifted to altcoin activity. Many anticipated the peak of altseason to occur early next year. However, presently, many altcoin prices have begun to pump with assets like ADA, VET, VTHI, and XRP having gone up by around 200%. Altcoin SUI Prepares for Next Pump Target Meanwhile, other altcoins seem to be preparing for the peak of the altseason by showing bullish indicators on their price charts. Some assets like Sui have already gone up in the previous months and still hint at a greater pump ahead in the thick of the coming altseason. As we can see from the chart below, SUI seems to be depicting strong indicators for a realistic up only sign. $SUI #SUI 1D chart I know you guys wanna see 'up only' but let’s be realistic – pullbacks are healthy. According to my EW count, we've finished this w4 small correction and we're heading off to my next target – $4.7-5.2 🎯 pic.twitter.com/YzUsdQKzJE — CryptoBullet (@CryptoBullet1) November 26, 2024 The analyst marks how SUI just experienced a healthy pull back but will continue to climb up in the coming week. He goes on to set the next ATH target for SUI which is between $4.7 and $5.2. According to CoinMarketCap data, the price of SUI stands at $3.38 with a total market cap of $9,611,245,141.87 and a 24-hour trading volume of $2,350,652,749.25. 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.
Trump Administration to Empower CFTC in Crypto Regulation Shift
Trump to expand CFTC’s jurisdiction. The crypto industry was at odds with the SEC. Move hopes to give regulatory clarity. The recent election victory of Donald Trump has prompted a major bull market. However, regulatory clarity remains a top issue for crypto firms and investors in the US. To address these concerns, Trump’s team already signaled several crypto-friendly moves. Most recently, reports suggested that Trump’s administration could give the Commodity Futures Trading Commission (CTFC) control of crypto regulation. This move would provide more regulatory clarity for the industry. Trump Plans Major Crypto Regulation Changes The incoming administration plans significant changes in crypto regulations. On Wednesday, November 27, FOX Business reported that the Trump team is considering putting the CFTC in charge of crypto regulation. The move aims to bring regulatory clarity to crypto. Sponsored The CFTC would need additional resources to ensure investor protection in the crypto industry. Chris Giancarlo, Former CFTC Chair and a key player in Trump’s crypto strategy, suggested that the Trump team is considering empowering the agency. “With adequate funding and under the right leadership, I think the CFTC could hit the ground running to begin regulating digital commodities on day one of Donald Trump’s presidency,” he explained. Why The Crypto Industry Prefers SEC over CFTC So far, the CFTC and the Securities and Exchange Commission (SEC) have competed over crypto regulation. The SEC, under Chair Gary Gensler , considered almost all crypto assets as securities. As such, the agency enforced its rules, often perceived as too harsh by the crypto industry. The CFTC, on the other hand, handles commodities and the derivatives market. As these markets are dominated by big players, they typically take a lighter approach to regulations. The SEC, on the other hand, typically focuses on protecting smaller investors. Still, the agency would likely need to expand significantly to protect crypto investors. Notably, it employs 700 people and has a budget of $400 billion, compared to the SEC’s $2.4 billion budget and 5,300 employees. On the Flipside Earlier, reports surfaced that Trump’s team is considering adding a designated position in the administration for crypto assets. The former SEC Chair Gary Gensler announced his resignation after the Trump victory. Why This Matters Regulation is a key risk factor for crypto assets in the US. If empowering the CTFC can bring clarity, the industry will be better positioned to grow. Read more about Trump’s crypto promises: Trump Wins US Elections: Here Are His Most Daring Crypto Promises Read more about Solana’s ecosystem growth: Solana Leads With $115B DEX Volume in November
Trump Team Mulls CFTC Oversight Of Major Segment Of Crypto Market, Reducing SEC Role
US President-elect Donald Trump is weighing a shift in crypto regulation that could hand more authority to the Commodity Futures Trading Commission (CFTC), reducing the influence of the Securities and Exchange Commission (SEC), Fox Business reported. The CFTC could oversee digital assets like Bitcoin and Ethereum, which have been deemed to be commodities, as well as exchanges and spot markets, potentially covering up to 70% of the $3.2 trillion crypto market, sources familiar with the matter told Fox Business in a Nov. 26 report. SEC Control Over US Crypto Market Could Be Reduced During the Biden administration, the US Securities and Exchange Commission (SEC), under the leadership of its outgoing Chair Gary Gensler , targeted crypto companies operating in the US with a regulation by enforcement strategy. Should the CFTC start to regulate more of the crypto market, it would cut back the SEC’s power over the nascent digital asset space. Gensler was in favor of the idea of the CFTC taking over the regulation of Bitcoin and its associated markets. This is after he called the leading crypto a commodity. With regards to ETH, the CFTC argued in March that the altcoin is a commodity in a complaint against the crypto exchange KuCoin. CFTC Could Regulate Digital Commodities From Day 1 Of Trump’s Term Former CFTC Chairman Chris Giancarlo, who is also known as “Crypto Dad,” believes the “CFTC could hit the ground running” and “begin regulating digital commodities on day one of Donald Trump’s presidency.” Giancarlo served as the CFTC’s Chairman during the President-elect’s first term, and is reportedly being considered for the role of “crypto czar” for the incoming administration. Over the years, he has called for the CFTC to play a bigger role in regulating crypto markets. Giancarlo also wrote a letter to the Senate Agriculture Committee in 2022 in support of the agency having authority over the spot crypto market. Related Articles: Crypto All-Stars: 25 Days Until A Meme Coin Revolution Begins Catslap Soars 3,297% In 4 Days – Is It The Next Hamster Kombat? Pepe Price Plunges As Investor Frenzy Erupts Around ThisRival
End of an Era? Major Cryptocurrency Exchange Ends Services to Biggest Hype Ever
Cryptocurrency exchange giant Kraken has announced plans to shut down its NFT marketplace as part of a strategic shift to reallocate resources to new and upcoming projects. Effective November 27, 2024, users will no longer be able to list, bid on, or sell items on the platform. After that date, the marketplace will switch to a withdrawal-only mode, allowing users to transfer NFT assets. According to a communication shared with users, the marketplace will be completely shut down on February 27, 2025. “We have made the decision to close our NFT marketplace so we can shift more resources to new products and services, including unannounced initiatives in development. Our customers have been notified of the changes and our team will support them as they move their NFTs to their Kraken Wallet or a wallet of their choice,” a Kraken representative said in a statement. Related News BREAKING: Highly Anticipated FED Minutes Released - Here's Everything You Need to Know Kraken first introduced its NFT marketplace in November 2022, following a beta launch in December 2021. The platform aimed to capitalize on the NFT hype but struggled to gain significant traction amid the cooling market. *This is not investment advice.
Ethereum Price Maintains Strength at $3,250: Upside Ahead?
Ethereum price remained supported above the $3,220 zone. ETH is consolidating and might aim for a move above the $3,400 resistance. Ethereum started a fresh increase from the $3,250 support zone. The price is trading above $3,350 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $3,400 resistance zone. Ethereum Price Remains Stable and Eyes More Upsides Ethereum price remained supported above $3,200 and started a fresh increase while Bitcoin corrected gains. ETH is stable above $3,250 and is currently rising. There was a move above the $3,300 and $3,350 resistance levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $3,545 swing high to the $3,254 low. There was also a break above a connecting bearish trend line with resistance at $3,320 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,350 and the 100-hourly Simple Moving Average . On the upside, the price seems to be facing hurdles near the $3,400 level. It is close to the 50% Fib retracement level of the downward move from the $3,545 swing high to the $3,254 low. Source: ETHUSD on TradingView.com The first major resistance is near the $3,450 level. The main resistance is now forming near $3,500. A clear move above the $3,500 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,680 resistance zone or even $3,750. Downsides Limited In ETH? If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone. A clear move below the $3,250 support might push the price toward $3,150. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,250 Major Resistance Level – $3,400
XRP Price Stabilizes at $1.30: Can Momentum Build?
XRP price is consolidating near the $1.400 zone. The price must clear the $1.4550 resistance zone to start a fresh increase in the near term. XRP price is struggling to gain pace for a move above the $1.50 level. The price is now trading below $1.450 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $1.4550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might gain traction if it clears the $1.4550 resistance. XRP Price Stuck Below $1.50 XRP price struggled to gain pace for a move above the $1.50 level. It dipped again and even spiked below the $1.30 level. A low was formed at $1.2828 and the price is now recovering losses unlike Bitcoin and like Ethereum . There was a move above the $1.3250 and $1.340 resistance levels. The price tested the 50% Fib retracement level of the downward move from the $1.5389 swing high to the $1.2828 low. However, the bears seem to be active near the $1.420 resistance zone. The price is now trading below $1.45 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.420 level. The first major resistance is near the $1.450 level or the 61.8% Fib retracement level of the downward move from the $1.5389 swing high to the $1.2828 low. There is also a key bearish trend line forming with resistance at $1.4550 on the hourly chart of the XRP/USD pair. The next key resistance could be $1.50. Source: XRPUSD on TradingView.com A clear move above the $1.50 resistance might send the price toward the $1.550 resistance. Any more gains might send the price toward the $1.600 resistance or even $1.620 in the near term. The next major hurdle for the bulls might be $1.650 or $1.6550. Another Drop? If XRP fails to clear the $1.4550 resistance zone, it could start a downside correction. Initial support on the downside is near the $1.3200 level. The next major support is near the $1.30 level. If there is a downside break and a close below the $1.30 level, the price might continue to decline toward the $1.2800 support. The next major support sits near the $1.2650 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.3200 and $1.3000. Major Resistance Levels – $1.4200 and $1.4550.
Bitcoin Price Corrects to $90K: Healthy Dip or Cause for Concern?
Bitcoin price is correcting gains below the $95,000 support. BTC traded close to the $90,000 level and is currently consolidating near $92,500. Bitcoin started a downside correction below the $95,000 zone. The price is trading below $94,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $93,500 resistance zone. Bitcoin Price Corrects Gains Bitcoin price struggled to extend gains and started a downside correction below the $97,500 level. BTC dipped below the $96,000 and $95,000 levels. It even dipped below $92,000. A low was formed at $90,736 and the price is now rising. There was a move above the $91,800 resistance level. The price cleared the 23.6% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low. Bitcoin price is now trading below $95,000 and the 100 hourly Simple moving average . On the upside, the price could face resistance near the $93,500 level. There is also a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC/USD pair. The first key resistance is near the $94,800 level. It is close to the 50% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low. Source: BTCUSD on TradingView.com A clear move above the $94,800 resistance might send the price higher. The next key resistance could be $95,750. A close above the $95,750 resistance might initiate more gains. In the stated case, the price could rise and test the $97,500 resistance level. Any more gains might send the price toward the $98,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $93,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $91,800 level. The first major support is near the $90,500 level. The next support is now near the $90,000 zone. Any more losses might send the price toward the $88,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $91,800, followed by $90,500. Major Resistance Levels – $93,500, and $94,750.
XRP’s Impressive Surge: Will It Sustain Momentum or Face Further Correction?
The resurgence of XRP has captivated the crypto community, with its price soaring over 220% since early November, peaking at $1.634 amidst regulatory scrutiny and market volatility. Despite skepticism surrounding its sustainability, XRP has revitalized interest among investors, prompting discussions on its next potential moves amid ongoing market dynamics. “Major movements for XRP were on the horizon,” noted COINOTAG, highlighting the significance of recent price patterns as the digital asset navigates its current phase. Explore XRP’s dramatic 220% price surge and its future trajectory amid regulatory challenges and market dynamics in this insightful analysis. XRP’s Price Dynamics: Understanding the Current Surge and Its Implications The recent 220% price increase of XRP has thrown the spotlight back on this long-time cryptocurrency. Achieving a recent high of $1.634, XRP has regained levels not seen since May 2021, though it has since pulled back to $1.367, reflecting a 16.54% correction. While the crypto market remains rife with regulatory concerns, XRP’s substantial price movement indicates a resilient community of enthusiasts and investors eager to anticipate the next trend. Analyzing the Bollinger Bands: A Key Indicator for XRP To gauge XRP’s future price movements, the application of Bollinger Bands—a technical analysis tool developed by John Bollinger—provides critical insights. This indicator consists of a moving average and two standard deviation lines above and below it, helping traders understand price volatility and potential reversals. Recently, the Bollinger Bands showed a tight compression due to a narrowing price range, indicating that significant price changes were imminent. The Crucial Resistance Level: $1.655 As per the Bollinger Bands rules, XRP must close above the upper band at $1.655 by the end of the week to avoid further downward pressure. Should XRP fail to maintain this threshold, a retracement towards the $1 zone becomes increasingly probable. Such a correction could entail a decline of approximately 27% from current levels, positioning a potential price trajectory between $1.000 and $1.100, which some analysts consider a healthy correction conducive to long-term growth. Market Sentiment: Bulls vs. Bears The current market sentiment surrounding XRP reflects a tug-of-war between bullish enthusiasm and bearish caution. Following an astonishing rally that saw prices surge, the potential for a corrective phase could induce fears in the trading community. However, based on historical patterns and previous corrections, many believe a healthy consolidation will strengthen XRP’s bullish outlook without undermining the momentum gained during the recent surge. Conclusion In summary, XRP’s recent performance illustrates the cryptocurrency’s volatile nature and the influence of key technical indicators like Bollinger Bands. The immediate focus will be on whether it can breach the critical resistance level of $1.655. Observers remain optimistic about XRP’s long-term potential despite short-term challenges. Maintaining a balanced perspective will be crucial as investors navigate the evolving landscape of the crypto market, ensuring that any possible corrections are seen not as failures but as opportunities for future growth. In Case You Missed It: WisdomTree Enters XRP ETF Race Amid Increasing Interest and SEC Leadership Changes
Bitcoin Faces Price Correction Amid Overbought Conditions and High Leverage Use
Bitcoin struggles to regain upward momentum as market indicators signal overbought territory amid high leverage usage, sparking concern among traders. The recent downturn highlights Bitcoin’s volatility, with its price dropping to approximately $93,000 from a peak of nearly $100,000 within a short time frame, raising questions about the sustainability of its upward trend. “The current market dynamics indicate a pattern that suggests a price retracement, should continued selling pressure persist,” noted a source from COINOTAG. Bitcoin’s recent price decline signals potential volatility ahead, raising concerns over sustainability as market dynamics evolve amidst high leverage metrics. Bitcoin’s Profit and Loss Ratio Hits Record Highs Bitcoin’s recent price correction is accompanied by **record-high profit and loss (P/L) ratios** for the cryptocurrency. According to data from CryptoQuant, the on-chain profit/loss ratio has surged, matching the all-time high levels observed in March 2024. This spike in P/L ratios often indicates potential profit-taking by investors, suggesting that Bitcoin’s market may be experiencing a temporary peak. Indicators of Market Top: P/L Ratios and Fear Index Historically, periods of elevated P/L ratios correlate with market tops. For instance, when Bitcoin reached approximately $73,400 earlier in the year, the P/L ratio was similarly high. Concurrently, the **Crypto Fear and Greed Index** has soared to a significant reading of 94, achieved on November 22. This level denotes extreme greed among investors, a potential precursor to market corrections. Impact of Overleveraging in the Market Another critical factor contributing to Bitcoin’s recent price drop is the **overleveraged positions** present in the futures market. With a substantial imbalance between buyers and sellers, overleveraged traders have been particularly vulnerable to sharp price movements. Analysts from IntoTheBlock have noted that rising funding rates have influenced this correction, tipping the scales in favor of bearish sentiment. Technical Analysis: Price Patterns and Expectation Bitcoin’s current price behavior echoes patterns observed at previous local market tops, suggesting potential stagnation in the near-term. An analyst from the crypto community, Byzantine General, articulated that sideways trading appears likely. He mentioned, “The chances are high for prolonged sideways action for BTC, possibly paving the way for altcoins to outperform.” Such insights highlight the anticipation of varying strength across different assets as Bitcoin navigates through consolidation phases. Liquidity Zones and Future Projections The **liquidity zone** around $90,000 is now a critical observation point for traders, especially given the significant price run-up experienced earlier this month. As the relative strength index (RSI) has dipped below 50, a shift in market sentiment is anticipated, suggesting continued selling pressure that may push Bitcoin toward lower support levels, such as $85,000. The lack of price inefficiency during Bitcoin’s ascent further emphasizes the importance of these liquidity zones for traders positioning for potential rebounds. Conclusion The current Bitcoin landscape serves as a stark reminder of the cryptocurrency market’s inherent volatility. With overleveraged positions, record profit ratios, and key liquidity zones identified, traders should remain vigilant. Monitoring Bitcoin’s potential to close above $95,000 will be crucial in determining the near-term direction. However, signs lean toward continued consolidation under the current psychological barrier, warranting cautious engagement. In Case You Missed It: Bitcoin Faces Major Liquidations as Market Sees Nearly $500 Million Wiped Out Amid Uncertainty Over $100,000 Target
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