Markets

Crypto Market Weekly Winners and Losers – LDO, ENS, WIF, NOT

Published

7 months ago

23 June, 2024

Crypto Market Weekly Winners and Losers – LDO, ENS, WIF, NOT

Pendle, Lido DAO and Ethereum Name Service were last week’s biggest winners.
zkSync, dogwifhat and Notcoin were the biggest losers of the week.

Pendle [PENDLE] saw the market swing in its direction as it emerged as the biggest gainer in a turbulent week for cryptocurrencies.

Meanwhile, zkSync had a challenging debut, quickly feeling the impact of market forces in what could be described as its “baptism of fire”.

Biggest winners

Pendle [PENDLE]

PENDING He started the week positively, although his progress was not entirely smooth. It opened at approximately $5.6 and closed the week at around $6.0.

Data from CoinMarketCap indicates that PENDLE gained 15.48% last week, positioning it as the biggest gainer of the week.

AMBCrypto analysis revealed that Pendle’s price fluctuated throughout the week, falling as low as $4.8 and reaching as high as $6.2.

At the time of writing, it is trading at approximately $6.1, showing a modest increase from last week’s closing price.

Its market capitalization was around US$947 million, with a trading volume of around US$57 million. Notably, its volume has decreased by 26% in the last 24 hours.

Read DAO [LDO]

AMBCrypto’s vision Read DAO [LDO] on a daily chart revealed that it started the week with a 3.81% increase, raising its price from approximately $2 to $2.15.

It then suffered a significant drop of more than 7% on June 17, dropping its price to around 1.9 dollars. However, subsequent increases of approximately 10% and 6.5% helped it recover, pushing its price above $2 to around $2.3.

The graph indicated that LDO ended the week with a drop of 4.9%. Even so, it managed to maintain its price above US$2, trading at around US$2.1.

Despite suffering significant losses during the week, LDO finished as the second biggest gainer according to data from CoinMarketCapwhich registered a gain of 7.86% in the week.

Source: TradingView

Lido DAO’s Relative Strength Index (RSI) indicated that it remains in an uptrend despite its recent declines. At the time of writing, the RSI is above the neutral line, supported by it.

This suggests that although Lido DAO is still in an uptrend, the trend is relatively weak.

At last update, Lido DAO’s market capitalization was approximately $1.9 billion, having seen a decline in the last 24 hours.

Furthermore, its trading volume in the last 24 hours was around $106 million, which also saw a reduction of around 24%.

Ethereum naming service [ENS]

Ethereum naming service [ENS] started the week at a price of approximately $24.3, starting on a positive note with an early gain. However, it soon faced a major setback, dropping to around $22.7 the next day.

Despite this, ENS experienced significant increases thereafter and on June 21, it was trading around $26.8.

Despite facing a huge drop at the end of the week, with the price dropping to around $25, ENS still managed to close the week with a 7.7% gain.

This performance made it the third biggest winner of the week, according to data from CoinMarketCap.

As of the last update, the Ethereum Name Service (ENS) market capitalization was approximately $788 million and its trading volume was approximately $79 million.

In the last 24 hours, the market value has decreased by more than 2% and the trading volume has significantly decreased by more than 40%.

Biggest losers

zkSync [ZK]

During its debut week zkSync [ZK] emerged as the biggest loser, according to data from CoinMarketCap. Data indicated that it started the week at around $0.27 but experienced rapid drops throughout the week.

Market forces did not provide the anticipated favorable reception. By the end of the week, its price fell to approximately $0.18.

According to data from CoinMarketCapZK ended the week with a significant drop of over 37%.

At last update, its market capitalization was approximately $673 million, having increased by more than 2% in the last 24 hours.

Its trading volume was around $181 million, which decreased by more than 38% in the last 24 hours.

Dog hat [WIF]

AMBCrypto Exam Dog hat [WIF] revealed that it started the week with an increase of more than 7%, trading at approximately US$2.6.

However, this increase was only a brief interruption in the downward trend that had been registered since the previous week.

After the initial rise on June 16th, it faced consecutive descents. At the end of the week, Dogwifhat was trading at around $1.74.

According to data from CoinMarketCapmemecoin was the second biggest loser of the week, experiencing a drop of over 28%.

Its Relative Strength Index (RSI) indicated that it was entrenched in a strong downtrend.

Source: TradingView

The RSI was just above 30, highlighting the intensity of the bearish momentum and indicating that it was very close to entering the oversold zone.

According to the latest data, memecoin’s market capitalization was approximately $1.7 billion.

Its trading volume was around $240 million, which decreased significantly, showing a drop of more than 40% in the last 24 hours.

Notcoin [NOT]

According to data from CoinMarketCap, Notcoin [NOT] it was the third biggest loser of the week, experiencing a decline of over 25% last week.

Analysis of NOT by AMBCrypto indicated that it started the week at a price of around $0.02, but began to decline from the beginning. By the end of the week, its price fell to approximately $0.015.

At press time, its market capitalization was $1.5 billion, having increased by more than 3%. However, its trading volume, which was around $321 million, has decreased by more than 30% in the last 24 hours.

Conclusion

Here’s your weekly recap of the biggest winners and losers. It is crucial to keep in mind the volatile nature of the market, where prices can change quickly.

Therefore, it is best to do your own research (DYOR) before making any investment decisions.

Source

Markets

Crypto Markets Rebound as Spot Bitcoin ETFs Attract Massive Inflows

Published

6 months ago

17 July, 2024

FinCrypt Staff

Crypto Markets Rebound Ahead of Early Ethereum ETF Approval

This week saw $722 million worth of Bitcoin spot ETF inflows, including the largest daily inflow in a month.

Cryptocurrency markets rallied on Wednesday, driven by inflows into spot Bitcoin exchange-traded funds (ETFs).

The price of Bitcoin (BTC) is up 3% over the past 24 hours to last change hands at $65,200, according to CoinGecko. Ethereum (ETH) is up 2% and is trading at $3,471. Solana (SUN) and Polkadot (POINT) increased by 4%.

Bitcoin spot ETFs saw $422 million in daily inflows on Tuesday, the highest in the past 30 days, according to Far side data, . The all-time record for a single day was $1.05 billion on March 12.

Among Tuesday’s top contributors, BlackRock’s IBIT led with $260 million in inflows, followed by Fidelity’s FBTC with $61 million. This week has already seen more than $722 million in inflows.

Among the top 100 cryptocurrencies by market cap, Worldcoin (WLD) led with a 28% increase, followed by Helium (HNT) with 20% and Lido DAO (LDO) with 15%.

Worldcoin, a decentralized identity project led by OpenAI CEO Sam Altman, announced is extending the lockups for early investors and team members. This means that tokens will be gradually released through 2029, instead of the original 2027 plan. Token unlocks are generally seen as a negative because they increase supply and early investors can sell their tokens for profit.

Meanwhile, XRP, the token of the XRP Ledger network, jumped 8% after the CME and CF benchmarks introduced new indices and reference rates for XRP.

U.S. stocks faced a downturn on Wednesday. The S&P 500 fell 1%, while the Nasdaq Composite and Dow Jones Industrial Average both fell 2%.

Source

Markets

Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

Published

6 months ago

17 July, 2024

FinCrypt Staff

Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

Crypto markets appear to have been taken over by the bulls as major tokens have surged above their crucial resistance zone. Bitcoin surged above $65,000 while Ethereum was above $3,500, and XRP, which had remained passive for quite some time, surged over 40% in the past few days to hit $0.6. The uptrend has been captured in most altcoins, with Worldcoin (WLD), Arweave (AR), and Injective (INJ) leading the rally. Here’s what to expect for these tokens in the coming days.

Worldcoin (WLD) Price Analysis

O Worldcoin Price has been trading inside a descending wedge since it marked a new ATH near $12 in the final days of Q1 2024. The recent price action helped the price break out of the upper resistance of the wedge, breaking above the crucial resistance zone between $2.21 and $2.39. Market sentiments have changed, but technicals suggest that the bulls may remain passive for a while, which could offer some room for a bearish pullback.

The price broke out of the wedge with a significant increase in volume, but the current volume suggests that the bulls have taken a step back. Meanwhile, the RSI is about to reach the upper boundary, which could attract bearish forces. Additionally, the DMI has undergone a bullish crossover, but the decline in the ADX suggests that the rally may remain consolidated above the gains. Therefore, the WLD price is expected to maintain a horizontal consolidation between $3 and $3.3 and trigger a fresh rally to $4.4 during the next bullish rally.

Arweave (AR) Price Analysis

Arweave formed a strong base around $25, which helped the rally trigger a recovery during the bearish attack. Mt. Gox and German terror forced the price to fall below $20. However, the recent price action has brought the altcoin within the bullish range and raised expectations of maintaining a decent uptrend for a few more days.

AR price has hit one of the major resistances around $30 to $31.5, which could act as a strong base once overcome. The buying volume is slowly increasing, which could keep the bullish hopes for the rally high. Moreover, the supertrend has just flashed a buy signal, indicating a clean reversal of the trend. Therefore, AR price seems primed to maintain a healthy uptrend and rally above $40. However, if the bulls maintain a similar trend, making new highs above $50 may not be a tedious task for the bulls.

Price Analysis of Injective (INJ)

Injective price has been showing sharp strength since the beginning of the year and hence, the recent turnaround is expected to revive a good uptrend going forward. The bears engulfed the rally to a large extent, but the recent price action suggests that the bulls have regained their dominance. Therefore, INJ price is expected to maintain a strong uptrend with a bearish interference on the way down.

INJ price has surged above the lower support zone and has registered consecutive bullish candles. Although the volume is below the required levels, the OBV is maintaining a sharp uptrend. Furthermore, the Ichimoku cloud lead span B is heading towards the lead span A and a healthy crossover indicates the start of a new uptrend. However, INJ price may be out of the bears’ reach once it secures the resistance zone between $30.77 and $32.12, which seems to be on the horizon.

Source

Markets

Ethereum at $3.5K, Exchange Supply Hits 34-Month High

Published

6 months ago

17 July, 2024

FinCrypt Staff

Ethereum at $3.5K, Exchange Supply Hits 34-Month High

Ethereum (ETH) supply on exchanges has hit a 34-month high as the asset’s price surpassed the $3,500 mark.

ETH has risen 2.3% over the past 24 hours and is trading at $3,490 at the time of writing. The second-largest cryptocurrency — with a market cap of $419 billion — briefly touched an intraday high of $3,517 earlier today.

ETH Price, Whale Activity, RSI, and Exchange Supply – July 17 | Source: Santiment

Ethereum’s daily trading volume also increased by 7.6% to reach $19.8 billion.

According to data provided by Santiment, the supply of Ethereum on exchanges has reached $19.52 million ETH. This level was last seen in September 2021, when the asset was trading around the same price.

On the other hand, data from the market intelligence platform shows that the number of whale transactions has fallen by 12% in the last day — falling from 8,730 to 7,629 unique transactions per day.

The move shows that the supply of Ethereum on exchanges has been increasing with small deposits rather than large transactions from whales.

Additionally, the ETH Relative Strength Index (RSI) is currently hovering at the 60-mark, per Santiment. The indicator shows that Ethereum is slightly overbought at this price point, but it may not be in a critical position due to its large market cap.

One of the main drivers of Ethereum price increase is ETH spot expectations ETFs in the US Investment products are scheduled to start trading on July 23rd.

Source

Markets

Bits + Beeps: How to Play the ‘Trump Trade’ in Cryptocurrencies After the Assassination Attempt

Published

6 months ago

17 July, 2024

FinCrypt Staff

Bits + Bips: How to Play the ‘Trump Trade’ in Crypto After the Assassination Attempt

Also, how much will the Fed cut rates (and when)? What will be the inflows into ETH ETFs? And what is the near future for Bitcoin?

Posted on July 17, 2024 at 12:00 PM EST.

Listen to the episode at Apple Podcasts, Spotify, Capsules, Source, Podcast Addict, Pocket molds, Amazon Musicor on your favorite podcast platform.

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger and Joe McCann, joined by guest Jack Platts, dive into the market reaction to the recent assassination attempt on former President Donald Trump, analyzing how this event will influence the 2024 US presidential election and the cryptocurrency markets.

They also cover potential rate cuts: Could there be a cut in July? How big could the September rate cut be? Could the decision be influenced by the upcoming election?

They also give their predictions on what percentage of BTC ETF inflows the ETH ETFs will reach, and James talks about what he expects for Grayscale’s ETHE (hint: his outlook would be positive for ETH).

Finally, they delve into what’s next for Bitcoin as the German government runs out of BTC and Mt. Gox distributions begin. Just now?

Program Highlights:

Whether Trump’s shooting decided the election and whether the event caused a “flight to safety”
How election markets are becoming a place to watch election probabilities and whether cryptocurrencies “lean right”
Whether rate cuts will occur in July or September and by how much they will cut: 25 bps or 50 bps
How Joe sees the relationship between global liquidity cycles, rate cuts, and the potential rise of Bitcoin
What are the new updates about Ethereum ETFs and their expected launch?
Why Solana Hasn’t Performed Significantly Better Since Trump News
What Market Breadth Indicates About the Current Market Rally and the Impact of Rates on Small Caps
Everyone’s predictions on ETH ETF inflows and how much outflow we’ll see on Grayscale’s ETHE
What’s Next for BTC After German Government Exits Bitcoin and Mt. Gox Giveaways Starting This Week