https://www.newsbtc.com/news/solana/solana-sol-plunges-over-13-will-it-bounce-back/

Solana is facing its share of the bearish sentiment in the cryptocurrency market today. SOL has held above $20 since it jumped from $18 to $24 on January 14. 

However, the coin has seen a drop of 12.54% in price in the last seven days. Now, investors wonder if there are any signs of recovery.

Crypto Market Plunge Affects Solana

After the collapse of Alameda Research and FTX last year, SOL price joined the trend of price losses in the market. The Solana blockchain raised funds from FTX and Alameda Research, the trading firm of FTX former CEO, Sam Bankman-Fried.

However, when Binance withdrew from its planned takeover of the exchange, it spooked many investors as it meant the termination of support for Solana.

Following the incident, many key investors pulled out from the Solana blockchain. This action led to a drastic drop in price, leaving SOL to struggle. However, the asset started recovering in 2023. It started the year at $9.9610 but gradually climbed, recording rallies and pullbacks until it hit $25 on January 21 before retracing. 

The past weeks were eventful for SOL, as it touched a significant high of $24.7 (April 15). But recently, Solana’s price has also been facing challenges as the crypto markets portray several signs of fear due to the threat of economic recession. 

At the time of writing, Solana’s price stands at $21.33, indicating a drastic plunge in price by over 13% in the past week, compared to its past week’s performance.

For instance, on January 10, 2023, Solana enjoyed a 12% price increase after the blockchain’s Shiba-Inu-themed token, BONK, launched.

If another development or event occurs on the Solana blockchain, there could be a possible recovery for the asset.

$19.8 Support Critical To Halt SOL’s Downtrend

SOL is in a downtrend today, losing most of its gains in the past week. The asset has declined to the $21 price level as the bears seize market control. 

Solana is trading a bearish signal below its 50-day Simple Moving Average (SMA). However, it remains above its 200-day SMA, sparking hope of a long-term revival.

SOL’s Relative Strength Index (RSI) is 44.61, confirming the bearish trend. Notably, the indicator moves sideways, reflecting trader indecision in today’s market.

SOL’s trading volume is down by over 26% today, thus halting its price gains. Solana’s support levels are $14.96 and $19.87. Also, its resistance levels are $23.99, $26.04, $29.79, and $30. 

Solana will likely drop below $20 in the short term. However, the $19.87 support level will prove critical to the asset and could be the pivot point for an uptrend if the bulls prevail.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/analysis/dot/polkadot-dot-price-slumps-below-6-any-chances-for-reversal/

The price of Polkadot (DOT) has been gradually moving south over the past few days. The price decline cuts across the entire crypto market, with strong signs of bears. The cumulative market cap has dropped by 2.58% to sit at $1.25 trillion in 24 hours.

DOT has finally lost its grip on the $6 region as the bears became aggressive on the token over the past 24 hours. The market is wondering if Polkadot still has a chance to reverse the downtrend.

Polkadot Price Drops Drastically With Prevailing Bearish Trend  

The past few days seem to be turning out more negatively for DOT. The asset hovered between $6.1 and $6.9 last week except on April 21, when it dipped. 

Currently, the 60-day and 90-day price action for Polkadot shows negative values of 4.45% and 5.36%, respectively. Also, DOT dipped by 12.46% over the past 7 days.

After losing its hold on the price level of $7 in February, DOT has maintained a trading price within the $6 region. As of April 21, the price of DOT dropped to its resistance point of $5.8 before correcting. 

However, the price analysis of DOT for the past 24 hours shows the token is gradually going down again within the past few hours. 

At the time of writing, DOT is trading at $5.921, indicating a slight reversal after plunging. The bearish push on DOT from the past few days has spilled over to the weekend.

The crypto market is undergoing a bearish trend, with most crypto assets battling for price stability. Polkadot is included in the market performance. Hence, the selling pressure for the token has exceeded its buying pressure, forcing the price of DOT below the $6 region.

Bears Push DOT Below $6

After three consecutive red days, DOT has formed a green candle on the price chart. However, the bears are still in control as they struggle to reclaim past price levels. 

DOT has dropped below its 50-day and 200-day Simple Moving Averages (SMA), indicating a bearish sentiment in the short and long term.

DOT’s support levels are $5.15 and $5.75. A decline below its support will bring further price fall. Also, the resistance levels are $6.71 and $7.89. However, the $6 price level has transformed into a psychological resistance level.

The Relative Strength Index (RSI) indicator is 39.74, close to the oversold region of 30. However, the indicator points upwards, suggesting a bullish reversal in the short term.

DOT’s indicators are mostly bearish. Its next price action depends on traders’ decisions in the coming weeks. Further drop into the oversold region will likely lead to a trend reversal at the $5.75 support level.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/shiba-inu/shiba-inu-whales-on-buying-spree-add-311-billion-tokens-during-price-dip/

Whales have resumed their Shiba Inu buying spree as the meme coin price declined alongside the global crypto market. According to the WhaleStats report, a top ETH whale picked up $3.22 million worth of SHIB tokens over the past 24 hours.

The Ethereum whale performed the purchase in two transactions, scooping over 311 billion Siba Inu tokens within minutes.

Shiba Inu’s Price Correction Attracts Top ETH Whales

Shiba Inu has been on the list of preferred assets among top Ethereum whales over the past few months. The whales actively packed large chunks of SHIB tokens between January and February. However, it appears the whales went on break, waiting for another opportunity to strike.

Related Reading: Cardano In Strong Demand Zone, Breaking Through Key Level Crucial

A recent alert from the crypto tracking platform, WhaleStats, shows the 254th-biggest Ethereum whale purchased 311,998,734,794 SHIB tokens on April 20. The whale performed the transaction in two consecutive transactions.

The whale bought 194,114,774,578 Shiba Inu tokens worth $2,069,263 before initiating another transaction for 117,883,216 SHIB worth $1,256,643. The unexpected token accumulation comes as Shiba Inu’s price fell from its critical support level at $0.0000107.

Shiba Inu Price Outlook Amid Burn Rate Spikes

The recent price decline comes after several days of massive SHIB token burn by the Shiba Inu community to boost the meme coin’s price. In the days following the Shibarium PuppyNet launch, large chunks of Shiba Inu coins went into the dead wallets. 

On April 20, the Shiba Inu token burn rate spiked by 3,500%, according to the burn tracking website, Shibburn. Following Shibburn’s hourly update, April 20 saw another 5,180% burn rate spike. 

Given Shiba Inu’s massive circulation supply of tokens, the recent burn had little effect on the meme coin’s price. The token traded bearishly yesterday, with a 7.0% price decline, and has continued in the downtrend today.

SHIB is slightly recovering after forming three consecutive red candles on the daily chart. The bears have dominated the market, pushing SHIB close to its support zone.

Shiba Inu has dropped below its 50-day and 200-day Simple Moving Averages (SMA), a bearish sentiment for the short and long term. 

Also, the Relative Strength Index (RSI) is 41.22, close to the oversold region of 30. The indicator is moving downwards, suggesting further decline for the asset. SHIB’s support levels are $0.0000085 and $0.0000102, with resistance levels at $0.0000115 and $0.0000112.

SHIB is close to the $0.0000102 support level. If the level does not hold, expect further price decline from the asset in the coming days.

At press time, Shiba Inu is trading at $0.00001061, and the price is rising after declining by 3.6%.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/zilliqa-zil-price-soars-as-network-unveils-impressive-performance/

Amid the bearish trend that suppressed several coin prices, including Bitcoin, the Zilliqa token emerged among the gainers. Zilliqa secured first place among top-gaining coins in the bearish cryptocurrency market with a 9% uptrend over the past 24 hours.

This price move follows a network performance statistics update shared by a Twitter community member @inna_everstake. According to stats, Zilliqa reached a new milestone in network addresses and daily transactions.

Zilliqa Hits Milestone In Network Activity

Zilliqa is a permissionless public blockchain that offers high transaction throughput. It aims to improve blockchain scalability and speed using sharding as a layer2 scaling solution. 

The Zilliqa network relies on shards to solve scalability issues. Each shard processes transactions independently. The number of transactions increases as the Zilliqa network grows and the number of shards increases.

Related Reading: Shiba Inu (SHIB) Price Momentum Screeches To A Halt: What’s The Outlook?

The recent network performance statistics suggest the Zilliqa network is rapidly growing and has gained more traction. According to the update, Zilliqa recorded 4,582,116 addresses with 47,937,935 transactions and over 5.5 billion staked ZIL tokens. 

The statistics are incredible, given Zilliqa’s position in the cryptocurrency market compared to other Smart Contract platforms like Cardano, Ethereum, and Solana. Another notable fact is that the total addresses recorded participate in active daily transactions.

Zilliqa’s improved performance could be due to the increasing number of new developers coming to build on the network. The Zilliqa ecosystem has been active in running innovative programs that attract new Web3 developers, which is why the network addresses and transactions skyrocketed.

ZIL Price Outlook Amid The Boost In Network Performance

Zilliqa is among the coins with the most dynamic price movement this year. Zilliqa opened in 2023 at $0.01585 but gradually rallied to its current price of $0.0331, a notable increase amid slight pullbacks.

Although ZIL is still 87.33% down from its all-time high price of $0.2563, recorded on May 6, 2021, it has improved considerably since 2020. 

ZIL’s price is over 1,210% higher than its all-time low of $0.002477 on March 13, 2020. At press time, ZIL is trading at $0.331, a 9% price increase from the April 20 closing price of $0.03015.

Related Reading: OKB Tallies 24% Increase But Active Addresses Fail To Keep Pace – Here’s Why

Even ZIL’s trading volume has increased by over 38% from $116.69 million on April 20 to $190.71 million today, April 21. That could be a further confirmation of increased network activity. 

ZIL also recorded a nearly 11% price gain over the past seven days when coins like Bitcoin and Ethereum gave up theirs. The token now has over 12% price increase in the last two weeks.

From the technical perspective, ZIL’s market sentiment is bullish, with the oscillators and moving averages flagging a strong buy signal.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/stablecoin-market-share-dwindles-as-usdc-and-busd-supply-deplete/

The top 4 stablecoin valuations have declined significantly since this year. USDC and BUSD supply has depleted by $31 billion, pushing down the overall stablecoin market share. 

In addition, the top 4 stablecoins’ market capitalization has dropped by 23% from a peak of $161 billion per Glassnode’s report. The report noted the major cause of the shrinking stablecoin market cap is the dwindling supply of USDC and BUSD.

USDT Dominance Increases As BUSD And USDC Supply Shrink

The stablecoin market has faced its share of challenges this year, partly due to regulatory roadblocks on BUSD and USDC. BUSD’s supply has reduced since its issuer Paxos suspended minting after receiving a desist order from US regulators.

Also, Circle announced that $3.3 billion of USDCs are stuck on Silicon Valley Bank. As a result, the aggregate market cap of the top four stablecoins fell from $161 billion by 23%.

According to Glassnode’s report, USDC circulating supply has declined by $20 billion while BUSD’s reduced by $11 billion from their peaks. Also, Tether (USDT), the number 1 stablecoin, lost $1.3 billion from its supply, while DAI lost $4.4 billion.

At press time, the total market capitalization of all stablecoins stands at $132 billion, an over 20% decline. More so, stablecoins occupy 10.4% of the total crypto market cap, which has fallen by over 50% from its peak. 

The top 4 stablecoins account for nearly 90% billion of the overall stablecoin market cap, with USDT dominating the chart. Although BUSD and USDC’s decline affected the broader stablecoin market, the news brought more shine to USDT. As a result, USDT’s supply dominance has increased by over 60%.

Moreover, the Tether printer appears to mint more this year, adding $15 billion to the stablecoin’s supply. That has pushed Tether’s supply to 81 billion USDT, nearly equaling its May 2022 all-time high of 83 billion USDT.

Stablecoin Market Improves While Cryptocurrencies Turn Bearish

Although BUSD and USDC’s supply shortage is significant, over the past month, other stablecoins increased supply. That includes the Pax Dollar (USDP), which saw a 40% increase in circulating supply since the start of April. The increased USDP minting pushed its circulating supply above 1 billion.

USDP isn’t the only stablecoin that witnessed an increase in circulating supply. Gemini Dollar (GUSD) also did, even though its supply is only a speck in the overall stablecoin market share. This stablecoin witnessed an over 12% increase in supply to $440,000 in the last month.

Despite the total stablecoin market share falling from its previous peak, it recorded a slight increase of 0.06% in the last 24 hours. But the global cryptocurrency market cap has declined by 1.36% over the past 24 hours. 

The crypto market has met a correction over the past 48 hours after several weeks of a bullish uptrend. At press time, the two chief cryptocurrencies, Bitcoin and Ethereum, are trading bearish. 

Meanwhile, most stablecoins are green today, with USDT, USDC, and BUSD trading at a 0.01% price increase over the past 24 hours.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/chainlink/chainlink-link-makes-a-slight-recovery-after-plunging-whats-next/

Chainlink (LINK) has been trending in the bearish zone than the bullish over the past 24 hours. But while its price has fallen by 3.12% within this period, the daily chart shows a slight recovery after LINK previously marked significant gains depicting intense momentum.

The current value of LINK indicates that the token has seen some growth in its price since the start of 2023. On January 1, LINK was trading at a $5.57 price.

By January 9, the token had already crossed the $6.0 level. Since then, it has been hovering below $9 and a little over the $5.9 price level. Some technical indicators may suggest LINK’s future price action.

Chainlink (LINK) Plunged To New Support Level

Chainlink has shown some positive price movements over the last week. However, its price action as of yesterday was not promising as the token fell below the $8 price mark. According to data from the 1-day chart, LINK created a long red bar. 

Related Reading: Bitcoin Korea Premium Index Shows Signs Of Selling, Pullback Soon?

The bearish price movements brought its price to a new support level at $7.482144, which was formerly a resistance level until the recent breakout.

The token started trading at $8.5755 yesterday but failed to make any significant progress, as its price continued to decline throughout the day. It eventually fell to the day’s closing price of $7.7704, a 9.39% decline throughout the period.

LINK’s price decline can be attributed to the plunge of the broader crypto market on April 19. Major digital assets, including Bitcoin and Ethereum, dipped significantly throughout yesterday. Meanwhile, the market has made a slight recovery following yesterday’s downturn.

Currently, LINK’s 24-hour trading volume is down by 26.64%, as it stands at $419,703,269, a notable difference from yesterday’s value of $543,475,883.

At the time of writing, Chainlink trades at $7.891. Its price movements currently display a slight recovery from yesterday’s plunge, even though its 24-hour price change still shows a 3.12% decline.

What’s Next For LINK?

Chainlink is making a green bar after the huge red candle it made yesterday. The present price action indicates a recovery from its fall within the last 48 hours.

Chainlink price is currently above the 50-day and 200-day Simple Moving Averages (SMA), signaling more bullish sentiments than bearish. While the Relative Strength Index (RSI) still holds a neutral position at 54, there could be more buying pressure with time, given the current bullish sentiments of the market.

Moreover, the token created a new support level at $7.748 following the breakout from that position a few days back. For now, a notable resistance level holds at $8.398, with some support levels at $7.7482144, $6.4398324, and $5.9064793.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/dogecoin-2/dogecoin-price-slightly-tumbles-will-it-resume-the-uptrend-or-fall-further/

Dogecoin has maintained more bearish movements than bullish ones over the past 24 hours. DOGE closed 2022 at the price of  $0.07029 due to the market-wide crash following the FTX incident. Since the start of 2023, the token has remained between the $0.07 and $0.09 price ranges, indicating minimal action within this period.

While its 24-hour price is currently down by 5.66%, there’s no guarantee that it will continue declining or reverse to an uptrend. But some technical indicators may tell whether Dogecoin will resume the uptrend or fall even further. 

Dogecoin Hit Resistance Level At $0.09268

Dogecoin maintained seven green bars, indicating a bullish trend over the last seven days. This price movement brought the token above a resistance level at $0.09268 yesterday after reaching the day’s high of $0.09449. It eventually closed the day at $0.09399 and continued a downtrend since the beginning of today.

On April 19th, Dogecoin entered around the $0.094 price mark. At the time of writing, the token has declined by 5.62% from this figure, as it currently trades at $0.08787. It has already dropped to the day’s low at $0.08417, indicating a buy move at the current price.

Notably, the Dogecoin price could resume an uptrend considering the recent boost in its trading volume over the past day. The meme coin saw about $1.5 billion in trading volume yesterday.

Meanwhile, the trading volume in the last 24 hours is a little over $1 billion, indicating around a 24.51% surge within the same period. The token could significantly recover with such trading activities on the network.

What’s Next For DOGE – Will It Plunge Or Soar?

As the daily chart indicates, Dogecoin is on a downtrend, creating a long red bar. This is the first red candle it’s posting after seven days of bullish price actions. But based on the current market sentiment, the coin will likely make an uptrend shortly.

Dogecoin trades above its 50-day and 200-day Simple Moving Averages (SMAs), indicating bullish sentiments for the token’s price. Also, the Relative Strength Index indicator is gradually approaching buy sentiments from its current neutral state at 54.58.

Based on the 1-day chart, some major resistance levels are $0.09268 and $0.10350. On the other hand, notable support levels are $0.07007 and $0.06259.

The indicators above show a higher tendency for the token to resume an uptrend than to continue a bearish move. However, crypto assets are volatile and could deviate from predicted prices without warning. So, invest with caution by employing risk management techniques.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/analysis/link/chainlink-continues-to-rise-will-it-surge-over-the-9-boundary/

Chainlink (LINK) is in the green today, building on its current price form, as it seeks to break higher resistance levels. Its price performance in 2023 has been impressive, from $5.6224 on January 1, 2023, to its current price of $8.68. Despite price volatility, LINK has reclaimed the $8 price level and is currently in an uptrend.

Chainlink Sustains Its Uptrend As It Consolidates Above $8

LINK spiked from $7.7524 on April 14 to $8.1033 on April 15. It has remained above $8 for the last three days recording new highs on the price chart.

Also, its trading volume has spiked by over 28% within 24 hours, which could be the reason behind its current price surge. LINK has recorded a 5.87% price increase within 24 hours, which could signal the continuation of its rally.

It is trading above its 7-day high of $8.4753, sparking a bullish revival as it seeks to continue its ascent. Recent developmental activities on its network, such as the increase in smart contract use cases, contribute positively to its price action. 

Also, the upcoming Hackathon Spring 2023, a community-based event, generates positive publicity for the asset. Such activities and other fruitful partnerships have transformed LINK into a hub of developmental activity. The increased on-chain activity is also one of the factors lending support to the current price trend. 

Will We See Further Increase Above $9?

Chainlink is trading in an uptrend forming a long green candle on the daily chart today. It has posted its sixth consecutive green day, confirming the prevalent bullish trend in the market.

LINK is above its 50-day and 200-day Simple Moving Averages (SMA), a bullish sentiment for the short and long term. It implies that the bulls are still in control and will keep pushing the price. It is trading in the upper region of the Donchian channel, which also confirms the bullish trend.

The Relative Strength Index (RSI) is at 71.78 in the overbought region. This zone reflects the increase in trading volume and shows that traders are taking long positions in the market. Notably, the RSI is still moving upwards, indicating rising buyers’ interest in the market.

LINK Support And Resistance Levels 

LINK’s support levels are $5.9 and $6.75, and resistance levels are $7.735 and $8.397. It is above its first two resistance levels, signaling a further price increase.

If the bulls persist, the asset will likely test the $9.48 resistance level in the coming days. However, it might decline briefly to consolidate its gains before it resumes its uptrend. LINK’s rally is impressive as it builds on its gains, following large-cap cryptocurrencies like Bitcoin.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/bitcoin/indicator-suggests-bitcoin-to-surge-by-500-ahead-of-next-halving/

Bitcoin price recently hit $30,000 and still consolidates around that mark. However, many prominent traders and experts predict that the number 1 cryptocurrency is gearing up for more highs.

In a recent analysis, crypto experts suggested that BTC could relive the 2021 bull cycle ahead of the upcoming Bitcoin halving event. Prominent crypto researcher Will Clemente implied in a tweet that BTC could enter another 500% cycle after the next halving. 

Key Performance Indicator Flashes Bullish Signals Ahead of Next BTC Halving

Bitcoin undergoes halving every four years after mining 210,000 blocks. Experts suggest that Bitcoin’s halving causes a price increase as the number of coins in circulation reduces and creates scarcity.

Notably, Bitcoin halving events do have a significant effect on BTC prices. Historical data shows that the BTC price witnessed a significant push after every halving event.

Clement posted a chart detailing BTC price movement at previous halving cycles. The curves show that Bitcoin prices notably increased after the halving events. For example, the first BTC halving event occurred in 2012 and saw the BTC price increase by a massive 2,830%.

The same observation followed the subsequent halving events in 2016 and 2020. During these halving cycles, BTC’s price increased significantly after each event leading to the next one. 

The Reserve Risk metric is among the primary indicators that signaled Bitcoin’s parabolic price moves in the previous halving cycles. Bitcoin often gains value when the Reserve Risk has climbed above zero (0).

Notably, the Reserve Risk metric has crossed zero again, as it did in the other halving cycles. That movement may indicate that Bitcoin is gearing up for another massive price increase. 

Bitcoin Price Outlook

Many crypto investors have Bitcoin on their watchlists, closely keeping tabs on the assets as the community awaits the upcoming halving event.

Usually, cryptocurrencies are highly volatile and often deviate from past price behaviors. Also, the recent move of the Reserve Risk metric above zero strongly indicates the possibility of another massive BTC growth cycle in the nearest future.

At press time, Bitcoin is trading at $30,396, with a 24-hour price increase of 3.22%. Bitcoin’s price earlier today, April 18, aligned with the bearish market-wide trend as the global crypto market cap dropped by 0.08%.

Yesterday, April 17, Bitcoin closed with a 2.88% price decline at $29,445.04. The bearish price movement pushed BTC to surrender its past week’s gain with a 0.76% 7-day price decline early today. 

But as of press time, BTC and other assets have reclaimed their values pushing the global market cap up by 0.89%. With the recent indicator flashing bullish signals, BTC could be gearing up for new highs in the coming months.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/shiba-inu/bullish-shiba-inu-whale-buys-3-48-trillion-shib/

A new Shiba Inu whale has appeared with a massive 3.48 trillion SHIB purchase and becomes the 29th biggest Shiba Inu holder. This recent purchase showcases the growing interest of crypto whales on SHIB after the Shibarium Beta Testnet, Puppynet launch.

According to a report by Bitcoin World, Puppynet fueled unprecedented growth in the Shiba Inu network, evidenced by the exploding number of new wallets and transactions. 

New Whale Bought SHIB Worth $40.24 Million In A Single Transaction

According to recent data from Etherscan.io, a new whale bought 3,484,812,794,902.91 Shiba Inu tokens worth $40.24M in one transaction. The whale only holds SHIB tokens in their wallet and is currently the 29th-highest Shiba Inu holder.

Apart from the new investor, another SHIB whale ranked the 19th largest SHIB buyer accumulated 171,680,526,401 SHIB worth $1,885,051 in four different transactions. The whale amassed these large tokens on April 13, making it 3,656,493,321,303 accumulated by two whales within five days. 

These accumulations followed an announcement that the Shiba Inu team intends to launch a crypto portal in addition to the updated ShibaSwap. The portal will offer a venue for news, data, graphs, trends, and other community-related material.

Interest In Shiba Inu Spikes With Continuous Development

Puppynet’s most recent data shows that in the last 24 hours alone, new wallet addresses have joined the network, increasing the total number of addresses to 10,674,798, a notable rise over the previous two days.

Additionally, with an average block time of approximately 7.6 seconds, the Puppynet network has already processed 3,292,323 transactions. Gas prices on the network are currently 1.01 Gwei, making transactions accessible to users.

Another notable development is that Shiba Inu project leader Shytoshi Kusama pointed out the arrival of ShibaSwap 2.0 in a Telegram message, writing, “Ignore anything that says otherwise.”

During the same session, Kusama shared his happiness with the advancements achieved on the beta version of Shibarium, Puppynet. He did stress that SHIB still has “a long way to go.” 

Although specifics of ShibaSwap 2.0 are not yet out, the community anticipates several improvements and innovations. These could include increased token support, quicker transaction times, and better security safeguards.

Shiba Inu’s position in the rapidly expanding DeFi market is anticipated to be further cemented with the upcoming ShibaSwap 2.0 upgrade.

Meanwhile, Shiba Inu is trading at $0.000011 with a trading volume of 330,743,311 and a total market capitalization of $6,824,751,960. The token is currently trading in the red zone, declining by 0.61%

This is commendable given that the global market cap, Bitcoin and Ethereum, are down by 1.05%, 2.15%, and 0.48% in 24 hours.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/cardano/cardano-price-tanks-after-a-steady-rally-when-will-ada-resume-the-uptrend/

Cardano is in a downtrend today, April 17, after its steady rally since April 11. Its positive price trend in April sparked hope for a significant rally. However, the bears returned to provide resistance to the ongoing rally.  

ADA’s price dropped by more than 2% in the last 24 hours, while the trading volume is down by 22.72% within the same time frame. Despite the prevailing bearish trend, ADA has retained most of its gains in 2023.

It traded at $0.2498 on January 1, 2023, and is currently at $0.44 at press time, a significant increase. Like other cryptocurrencies, ADA is volatile. So, is this recent move a new bearish trend or a temporary correction?

ADA Loses Momentum At $0.45 But Still Primed To Explode

ADA dipped at the $0.45 mark today to retest old support levels. However, this drop in its price will likely be temporary as the previous price action stemmed from recent developmental activities. 

The Cardano community has distinguished itself as a developmental hub with approximately 1,225 projects currently building on Cardano. These projects make the ecosystem attractive for developers and investors alike.

One such new addition is Lace 1.0, a light multifunctional wallet platform launched on the Mainnet on April 11, 2023. Such innovations spiked interest in the crypto community for Cardano as an operational base.

Also, these activities helped boost its price from the $0.2 level to the $0.44 level. Despite the current slump, ADA may resume its uptrend once there is sufficient bullish pressure. 

When Will The Cardano Price Rally?

ADA formed a red candle, seeing a second consecutive red day on the daily chart. The bulls rallied since April 7, with the price increase between April 13-15 being the most significant. Cardano exhibited a similar price pattern when it rallied between January 4 -14. A price decline occurred between January 15-18 before a resumption of the uptrend on January 19.

ADA is still trading above its 50-day and 200-day Simple Moving Averages (SMA), with bullish sentiment in the short and long term. Also, the Relative Strength Index (RSI) is 68.38, close to the overbought region of 70. The RSI is returning from the overbought zone back into the channel. However, it still reflects the buying pressure in the market.

ADA’s Moving Average Convergence/ Divergence (MACD) is above its signal line, indicating bullish pressure. The current price decrease for ADA closely mirrors its past price action in January 2023. ADA will likely resume its uptrend by April 20 and reclaim the $0.45 price level if the bulls prevail.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/ripple/bitboy-believes-xrp-is-best-altcoin-bet-for-future-bull-run/

A popular crypto influencer, Ben Armstrong, a.k.a BitBoy, has shared his views in a YouTube video expressing bullish sentiments about XRP. Armstrong believes XRP will kickstart another bull run after the upcoming summary judgment. His recent prediction hinges on a summary judgment in favor of XRP.

Every avid crypto participant knows that the SEC vs. Ripple summary judgment will impact the industry. If the SEC wins, more crypto assets will fall under its jurisdiction. But if Ripple wins, it becomes the first crypto asset with regulatory clarity changing the narrative for many other assets. Notably, BitBoy believes that if there’s a settlement, XRP will soar. 

Bitboy Cites Reasons For Picking XRP 

BitBoy mentioned in his latest video that the long battle might end in June or July, given the closing trial calendar. He also agreed that Judge Torres might deliver the summary judgment anytime before then. 

Further, he reiterated that XRP could only kickstart a bullish trend if Ripple wins the battle through an outright win or settlement. But in BitBoy’s opinion, settlement is preferable for Ripple to avoid any further appeal from the commission, which will prolong the legal pressure on the altcoin. 

Bitboy believes that if the win comes through a settlement, the chances of XRP soaring will increase. The altcoin will become a unique asset since it’ll be the only one declared “non-security” after the tedious trial.

But, some top shots have expressed that a ruling will be the decision, not a settlement. According to the Chief Legal Officer (CLO) at Coinbase, Paul Grewal, a ruling will be the outcome that will trigger an appeal from the SEC. 

Also, CryptoLaw founder representing Ripple holders John Deaton shared the same view stating that the case will not end in a settlement between the two parties. 

XRP Will Soar Following Exchange Relisting 

Another reason Bitboy said it would push the XRP price was if top exchanges such as Coinbase relist it. Notably, after the SEC’s case filing, many crypto exchanges delisted XRP from their platforms, causing a price crash during that period.

But during the video, the influencer stated that if these exchanges relist the altcoin after Ripple wins, the price will soar again.

This is not the first time the influencer shared such beliefs. On April 4, he posted the same stance on Twitter, stating that XRP will lead the next bull run if it wins without a possibility of an appeal from the SEC. Also, on April 13, Bitboy stated XRP would soon make investors rich, so they should stick with it.

Notably, the XRP price is still firm on the $0.5 level it attained on March 29. Also, it is still holding on to its seven-day price gain showing a 0.19% increase in 24 hours. It’s hard to predict its possible move in the coming weeks until the upcoming summary judgment.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/chainlink/link-price-suffers-a-slight-decline-will-it-surpass-the-8-mark/

Chainlink (LINK) is rising after trading sideways on the daily candle and it’s trading at $7.77. Despite the current price drop, it has retained most of its gains in the year 2023. 

Currently, the general crypto market is also experiencing a slight retracement. However, the seven-day gains remain positive for the top 20 cryptocurrencies.

LINK Price Prediction

LINK has formed a red candle on the daily chart today. Despite the price pullback on the daily chart, it is still in an uptrend. LINK is still trading above its 50-day and 200-day Simple Moving Averages (SMA), a bullish signal for the asset in the short and long term.

Also, its Relative Strength Index (RSI) is 59.08, which shows price neutrality. It implies that the bears and bulls are evenly matched in today’s market. However, the RSI points downwards, indicating pressure from the bears and the possibility of further decline.

LINK’s Moving Average Convergence/Divergence (MACD) is above its signal line and showing positive values, a bullish sentiment for the asset. Also, the histogram bars are green, confirming the bullish sentiment.

Chainlink (LINK) is down today as the bulls seek to rally again. However, its SMA and MACD indicate that the price will likely rise again. 

The asset will have to overcome resistance to reclaim the $8 price level it traded at earlier in the year. Expect LINK’s price to increase in the coming weeks.

Recent Trends On The Chainlink Ecosystem

Interesting trends in the Chainlink ecosystem could help boost its price. Here are some of the top trends.

Chainlink Spring Hackathon 2023

The Chainlink Hackathon event will kick off on April 28 and run until June 9, 2023. It is an initiative to reward developers and give back to the growing Chainlink community. It features diverse categories such as NFTs and gaming, Artificial Intelligence (AI), DAO, and a grand prize of $25,000.

Hackathons have gained popularity across various crypto projects as developers and coders are invited to social coding events. These events unite great minds to collaborate on projects benefiting the crypto community.

Chainlink Introduces NFTFi

NFTFi is a new concept that combines NFTs and Decentralized Finance (DeFi). The aim is to add value and liquidity to the NFT market. Chainlink adopted this technology to enable NFT lending and borrowing. NFT holders can lock their digital assets as collateral to unlock liquidity for another digital asset. 

Such individuals become eligible to borrow digital assets by paying interest to lenders. This innovation highlights why Chainlink has performed well in 2023 and is set for further price increases as long as more traders gain interest and actively trade the tokens.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/ethereum/ethereum-soars-to-11-month-high-amid-massive-staking-withdrawals/

The price of Ethereum has surged to an 11-month high despite the withdrawal of nearly 240,000 ETH. The withdrawals did not have any negative impact on the Ethereum price trend as the crypto asset is on a surge spree.

As of the time of writing, ETH has recorded a price growth above 6% in the past 24 hours, beyond BTC’s 1.77% gain. There is seemingly an improvement in market sentiment around the asset today, causing ETH’s value to skyrocket. 

This is also evident in the token’s trading volume in the past 24 hours. If this trend continues, the price could surge beyond the $2,500 mark soon.

Ethereum Price Trend And Withdrawals

As of today, the price of Ethereum has surged over $2,000, its highest level over the past 11 months. This is a substantial increase from its recent price of $1,900 as of yesterday. In the meantime, the Ethereum market sentiments are bullish, particularly after its price surge.  This could be due to the Shapella upgrade that took place this week.

Ethereum now stands at $2,115, a 5.13% surge over the last 24 hours. Meanwhile, Bitcoin still hovers around a 1.77% price increase in the same period.

Furthermore, Ethereum’s trading volume is currently up by 25.45%, surpassing that of Bitcoin, which now stands at 9.22%.

The surge in Ethereum’s price has also caused a ripple effect on the broader digital asset market. Several other cryptocurrencies, including Bitcoin and Binance Coin, have experienced price increases.

In the meantime, crypto investors can only watch to see how long this surge in Ethereum’s price will last. But for now, it appears that the digital currency market is once again heating up. 

Data From Token Unlocks

An industry analyst, Colin Wu, noted that the token withdrawal occurred approximately 30 hours after the Shanghai upgrade. But he also stated that the network received about 100,000 ETH deposits afterward. As such, data from Token Unlocks shows that the net staking balance is now 139,000 ETH, worth about $277 million.

Related Reading: Little-Known Crypto WOO Outshines DEX Tokens With Surprise 32% Spike

The data also shows that about 1.11 million ETH worth $2.35 billion are still on hold for withdrawal at the time of writing.

Wu cited in his tweet that 63% of this amount goes to Kraken, whose staking services are currently not functional due to the suspension from the United States Security and Exchange Commission. Meanwhile, Coinbase, Huobi, and Lido Finance account for 11%, 5.1%, and 31%, respectively.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/bitcoin/ark-invest-analyst-believes-bitcoin-could-reach-1-million-but-how/

Bitcoin has soared tremendously in the past week as it approaches the $31,000 mark. Several analysts have predicted Bitcoin to rise in 2023 and beyond. Likewise, Yassine Elmandjra, an Ark Invest analyst believes Bitcoin will hit the $1 million mark in the next 10 years.

These bullish views on Bitcoin are not new, and it has retained its status as the apex cryptocurrency since its inception.

Yassine Elmadjra Shares His Thoughts On Bitcoin

In an interview, the Ark Invest Analyst stated that Bitcoin has been the best-performing asset in the last decade. He believes that depending on risk adjustments, BTC can yield between 2.5% to 6.6%, which could translate to above $1 million in the next 10 years.

He highlighted Bitcoin’s resilience despite market uncertainty and financial chaos, pointing to the fact that Bitcoin is in the same breath as gold as a store of value. Elmandjra notes that although a 20-fold increase might sound too optimistic, it is achievable based on Bitcoin’s origin. 

The analyst believes the digital asset sector is growing rapidly and will be more relevant in the coming years since Bitcoin and other cryptocurrencies are already enjoying increased institutional adoption. However, regulatory issues and restrictions are a challenge to the advancement of the digital economy.

Balaji Srinivasan, the former CTO of Coinbase, also placed a bet on Bitcoin with James Medlock last month of 1 BTC and $1 million USDC. The terms are if Bitcoin fails to hit $1 million by June 17, 2023, Medlock wins the bet. 

However, if it does, Srinivasan will hold onto his 1 BTC and $1 million USDC. This bet reflects the tremendous belief that BTC enjoys from investors worldwide.

Where is BTC Headed?

Bitcoin is in an uptrend on the daily chart today, consolidating on its gains from yesterday’s closing price of $30,399. It is trading at the $30,824 price level, forming higher highs on the daily chart.

BTC is above its 50-day and 200-day Simple Moving Averages (SMA), with bullish sentiment in the short and long term. Also, the Relative Strength Index (RSI) is at 72.04, firmly in the overbought region and highly bullish. Its trading volume is up by over 6.5% in the last 24 hours, indicating interest from traders.

BTC’s Moving Average Convergence/Divergence (MACD) is above its signal line and still rising, reflecting the bullish trend. Bitcoin has broken the $30,000 psychological resistance level leading to its current rally. 

If the bulls persist, it will likely break above $31,000 in the coming days. However, a slight pullback for consolidation is also possible for the asset.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/news/bitcoin/crypto-mogul-says-this-factor-is-key-for-bitcoin-to-reach-40000/

According to a Bloomberg report, Mike Novogratz, the founder of Galaxy Digital Holdings and a cryptocurrency investor, forecasted that Bitcoin might hit $40,000 with the Fed moving toward cutting the interest rate hikes.

Notably, the US Federal Reserve has maintained a hawkish stance in its fight against inflation by increasing interest rates. The last interest rate announcement was on March 23, when the Board of Governors of the Federal Reserve voted and approved an additional 25 basis point increase to the primary credit rate pushing it to 5%. 

BTC Price Will Increase Following Interest Rate Reduction, Novogratz

In a recent Bloomberg Television interview on Wednesday, Novogratz made forecasts on BTC price increases. According to him, the “clearest” trades are long Gold, long Euro, long Bitcoin, and long Ethereum, all of which should profit from the Fed’s predicted policy shifts.

He referred to Bitcoin’s $30,000 price level this week, for the first time since June 2022, as a significant run. Novogratz expects Bitcoin to consolidate here before heading towards $40,000, as long as the Fed plays out the way that is expected.

On the contrary, he forecasts that shares will continue to be “range-bound” this year, pointing out that they are neither affordable to purchase nor extremely appealing to investors due to their high prices.

Further, Novogratz stated that Hong Kong, Abu Dhabi, and Dubai are pushing for crypto-friendly regulations while the US Securities and Exchange Commission is targeting the cryptocurrency business.

Bitcoin Price Outlook Since January 

Since the start of this year, Bitcoin’s price has increased gradually. It ended 2022 at $16,603.67 due to the FTX collapse and regulatory pressure.

BTC started in 2023 at the $16,508 zone. However, investors began to show interest when BTC surpassed $19,669 on January 14, 2023, pushing the price to rise again. After crossing the $25,000 mark on March 16, BTC traded above $27,000 and $28,000 till April 10, when it climbed above $29,000.

Today, April 13, BTC’s price stands at $30,212 as of press time. Its market capitalization has grown to $583,952,947,218 and has a 24-hour trading volume of $19,558,222,281. 

Related Reading: Bitcoin And Inflation: What’s Next For BTC After CPI Rates Came In Lower Than Expected?

Bitcoin (BTC) Price Prediction

Bitcoin (BTC) currently trades above the 50-day and 200-day Simple Moving Average (SMA); this signifies a potential buy signal. Also, the golden cross is another strong confirmation that the trend will continue.

The Relative Strength Index (RSI) ranges between the 60 and 80 levels, and buying at this level will be profitable. Also, the MACD is slightly trading the signal line, and the indicator gives a bullish signal, predicting that the price of Bitcoin will likely experience upward momentum.

Featured image from Pixabay and chart from Tradingview.com

https://www.newsbtc.com/news/ripple/this-youtuber-claims-xrp-will-skyrocket-making-its-holders-rich-but-how/

The ongoing legal tussle between Ripple XRP and the US Securities and Exchange Commission seems close to its summary judgment, and crypto influencer Ben Armstrong (BitBoy) believes that Ripple will become one of the best-performing assets once the case ends.

He expressed his optimistic views on Twitter, stating that the judgment will be the end of one chapter and the beginning of a new one.

BitBoy Bullish On XRP

Ben Armstrong (BitBoy) is bullish on XRP’s chances after the case. In his tweet, Armstrong declared that the Ripple Vs. SEC case will end any time soon. 

He further implied that the new trend is for XRP investors to get rich from the asset. BitBoy believes that staying with XRP and the XRP Army is the best decision for investors to get their ‘rations.’ Notably, BitBoy analysis faced criticism for predicting that Ripple’s case would conclude in September 2021. 

He also attested to his failed prediction, saying it was a one-off event. However, he believes the trial calendar will soon expire; therefore, a resolution is needed.  

Attorney John Deaton shares similar views on the judgment timeline. Deaton, in an interview, stated that Judge Torres ruling timeline reveals that the summary judgment might occur before May 6, 2023.

He pointed out the fact that historically, Judge Torres’ summary judgments come up within two months. Deaton listed scenarios where the summary judgment followed within one-hour and one month for some cases.

Meanwhile, another crypto analyst, Ali, believes that XRP is on the verge of a 47% surge. However, he stated it could only happen if it secures a 3-day candlestick close above $0.54.

The analyst believes that a successful breakout could launch XRP to $0.80. Nevertheless, the impending judgment is critical in XRP price performance.

How Is XRP Looking Today?

XRP is recovering today, forming a green candle on the daily chart. The brief retracement in the last two days served as a consolidation point for the asset. XRP is trading above its 50-day and 200-day Simple Moving Averages (SMA), a bullish sentiment for the short and long term.

Notably, the 50-day SMA crossed over the 200-day SMA to form a golden cross on April 4, reflecting the bullish pressure on the asset. The Relative Strength Index (RSI) is 59.36, indicating price neutrality. However, this indicator is moving upwards and reflecting the prevalent bullish uptrend.

Related Reading: Bitcoin And Inflation: What’s Next For BTC After CPI Rates Came In Lower Than Expected?

XRP is currently trading at $0.507 with a surge of about 0.51% on the chart and it will likely move into an uptrend in the coming days.

Featured image from Pixabay and chart from Tradingview

https://www.newsbtc.com/shiba-inu/shiba-inu-community-destroys-35-million-shib-will-it-shift-the-momentum/

The Shiba Inu community continues its burn spree, with approximately 35 million SHIB burned in one day. According to the update from Shibburn, 25 million of the total burned tokens came from a single wallet.

The community has consistently been burning Shiba Inu, and billions of tokens have entered the dead wallets. The burn initiative is to reduce the meme coin’s circulation and possibly boost its price.

Active Shiba Inu Addresses Increase

An April 12 update from the SHIB burn tracker, Shibburn, noted that 34,924,913 Shiba Inu tokens entered the dead wallets in 3 transactions. The largest of the three burn transactions came from a Coinbase-linked wallet called Coinbase 10.

On-chain data shows the wallet transferred 25,313,097 SHIB, worth about 25.31 million, to the dead wallets in a single transaction. Following this development, Shiba Inu burn rates spiked by 1,108% against the previous day’s 2.3 billion SHIB tokens burned.

Over the past seven days, the Shiba Inu community has burned approximately 1.27 billion SHIB tokens, with the debut token Koyo (KOY) executing the highest. According to reports, Koyo (KOY) initiated an incredibly massive burn transaction on April 9, wiping 1.10 billion SHIB tokens from circulation.

The massive spike in burn rate has yielded positive results for the Shiba Inu community as the number of active SHIB holders increased.

At press time, approximately 1.28 million unique wallet addresses hold Shiba Inu tokens. And the community expects this to increase further to 1.3 million in no time.

SHIB Price Outlook Amid New Community Developments

Meanwhile, the Shiba Inu community is still pursuing more ecosystem developments. The developers of Shiba Inu’s metaverse project have released an update regarding the progress of their endeavor. 

The team unveiled its developmental goals while announcing a new Twitter handle dedicated to increasing the project’s awareness in the crypto community.

SHIB is trading in a downtrend below yesterday’s closing price of $0.00001106. The asset has formed a red candle with a long lower wick on the daily chart today, reflecting the selling pressure in the market.

It is trading below its 50-day Simple Moving Average (SMA), a short-term bearish sentiment. However, it is still above its 200-day SMA but is descending and might drop below the indicator.

SHIB is currently in a bearish phase. A short-term decline for the asset may occur before it rallies again if the bulls gain the upper hand.

At press time, Shiba Inu’s price has declined by 1.27% and trades at $0.000014, with a 24-hour trading volume of $195 billion.

Featured image from Pixabay and chart from Tradingview.com

https://www.newsbtc.com/news/bitcoin/report-claims-bitcoin-price-rally-will-continue-whats-next/

Bitcoin has been on an uptrend in the last few days, rallying above the $30,000 mark. According to a Bloomberg report, Bank of America strategists, Alkesh Shah and Andrew Moss, believe the rally will continue in 2023. 

They stated that the recent flow of funds between exchanges and personal crypto wallets backed up their Bitcoin price forecasts. The analysts attributed the movement of tokens from exchanges to concerns over regulatory pressure on digital platforms.

Before April 4, $368 million in BTC tokens were transferred to personal wallets. This transfer is the second-largest net bitcoin outflow for crypto exchanges in 2023. 

The strategists believe that the current trend reflects a decrease in sell pressure. They noted that investors move tokens from exchanges to personal wallets when they plan on holding them.

What Lies Ahead For Bitcoin?

Bitcoin shows a red candle on the daily chart as the bears seek to drive its price down. It is trading above its 50-day and 200-day Simple Moving Averages (SMA), a short and long-term bullish sentiment.

Related Reading: LUNC: Unveiling Terra Classic NFTs That Could Spark A Price Resurgence

Bitcoin is trading above the $29,410 resistance level, indicating the possibility of a further increase for the asset. Its Relative Strength Index (RSI) is 68.42, close to the overbought region of 70. The RSI was above 70 yesterday, indicating that the asset is overbought, leading to a slight retracement today. 

BTC’s Moving Average Convergence/Divergence (MACD) is rising above its signal line and showing positive values. This is also a bullish sentiment for the apex cryptocurrency.

Bitcoin price surges on the chart l BTCUSDT on Tradingview.comBitcoin has turned its resistance levels into support, indicating that it will likely form higher highs on the daily chart. Expect Bitcoin to trade above $30,000 in the coming days after a brief retracement. 

Other Analysts Share Thoughts On BTC

On Twitter earlier this week, Peter Brandt predicted a breakout for Bitcoin. From his chart structure, the analyst predicted that BTC would sustain its uptrend.

Mike Novogratz, CEO of Galaxy Digital, also shared similar sentiments, which he revealed in a recent CNBC interview. He believes the rally is fueled by the crypto community, not institutional investors.

Novogratz explained further that the adoption cycle always accelerates when the price increases. He dismissed allegations of market manipulation, stating that it is difficult to manipulate large-cap assets like Bitcoin and Ether. 

According to Novogratz, it is almost impossible to sway a $1 trillion market, but common with smaller crypto projects. He believes the market has shown resilience despite regulatory hiccups such as the Wells notices handed to Coinbase and Paxos. 

Also, he stated that BTC’s previous decline from $60,000 stemmed from the aggressive interest rate policy adopted by Jerome Powell, the Federal Reserve Chairman.

Featured image from Pixabay and chart from Tradingview.com

https://www.newsbtc.com/shib/111-million-shib-enter-dead-wallet-in-24-hours-here-are-the-details/

Over the past 24 hours, the Shiba Inu community destroyed over 100 million SHIB by sending the tokens to Shiba Inu’s dead wallet, a token-burning mechanism that crypto protocols use to control the number of circulating tokens in the market.

SHIB Tokens Burned Through Ten Different Transactions

According to a Shibburn report, the Shiba Inu Army has collectively destroyed 111,173,988 SHIB tokens within the past 24 hours. The tokens were burned in 10 different transactions by members of the community.

Related Reading: Ethereum Addresses In Profit Touches 11-Month High Ahead Of Shapella Upgrade

Three main SHIB holders; SHIB Super Store, an anonymous wallet, and a Uniswap-linked wallet – pioneered the burning actions. A wallet linked to Uniswap burned a large amount of Shiba Inu through a single transaction. The wallet sent 43,564,865 SHIB tokens to the dead wallet.

An anonymous wallet is the biggest contributor to the SHIB burning mechanism over the past 24 hours. According to the post from Shibburn, the unknown wallet moved about 46,877,110 Shiba Inu tokens to the dead wallet in a single transaction.

The renowned SHIB Burn Project, SHIB Super Store, has been significant in the burning actions. During their latest burning process, the Burn Project permanently destroyed about 10,297,482 Shiba Inu tokens using the SHIB Burn Portal. The burning process occurred through a single transaction.

Additionally, SHIB Super Store maintained the Weekly Burn and Earn Event for the Shiba Inu community. Following the latest burn, the Burn Project shared 10 million Shiba Inu tokens among the community members.

Spike In Shiba Inu Weekly Burn

Shiba Inu has witnessed a new high in its weekly burn of SHIB tokens. The cumulative burn rate increased to a record level last week.

Shibburn noted that the Shiba Inu Community had burned a total of 1,178,830,489 Shiba Inu tokens over the past 7 days. The tokens were burned through 26 different transactions within the period.

The top contributor to the burn was a new token on the ShibaSwapDEX Koyo. Shibburn data revealed that Koyo moved a whopping 1,104,224,812 Shiba Inu to the dead wallet on Sunday, April 9. It completed the transaction in a single transaction to set a new record level in burning Shiba Inu tokens. Also, on March 17, the new token burned 924.15 million SHIB through a single transaction. 

Shiba Inu’s price action has been on the lower turn amid its huge token-burning feats. At the time of writing, SHIB is trading at around $0.0000111, indicating a surge of 0.09% over the past 24 hours. However, its price action over the past 7 days shows a drop of 2.68%.

According to CoinMarketCap, Shiba Inu ranks as the 14th top crypto coin with a market cap of $6.54 billion. Its market dominance is 0.53%, and a 24-hour trading volume of $174.21 million.

Featured image from Pexels and chart from Tradingview.com

https://www.newsbtc.com/analysis/ada/cardano-ada-draws-attention-as-whales-accumulate-560-milloon-tokens/

Cardano is recently witnessing more activities from top whales. The whales have pushed their total Cardano holdings close to 3 billion ADA.

According to a crypto analyst @ali_charts, Cardano whale addresses holding between 100 million and 1 billion ADA tokens have been on a huge accumulation campaign. But ADA price is yet to reclaim its hold on the $0.40 it lost last week.

Cardano Whales On Buying Spree

The crypto analyst noted the top Cardano whales had amassed about 560 million ADA tokens over the past two weeks. He made the report based on data from an IntoTheBlock chart. At the time of the report, the accumulated ADA tokens were worth $218.4 million. 

The chart shows that the whales began their massive move on Cardano in April. It indicated a higher purchase activity on April 5 for these addresses. At this point, ADA was significantly trying to reclaim the $0.40 price value for the second time in a few days.

With the accumulation campaign, the total holdings of the whale addresses have grown to $1.16 billion. Cardano transactions above $100,000 have also witnessed an increase to an estimated value of about $13.61 billion.

In an older post, he noted that about 92,000 addresses accumulated 4.4 billion ADA as the token formed a crucial support region between $0.365 and $0.376. The trend was prominent among Cardano addresses that hold between 1 million and 10 million ADA tokens.

The analyst reported that these whale addresses purchased almost 150 million ADA worth $57 million over the past 30 days.

Additionally, the increased performance in Cardano cuts across the non-zero addresses in the network. A tweet from Cardanians on April 7 shows that about 79,196 non-zero addresses have been added to the network in 2023. This indicates more demand for ADA as the non-zero addresses hit 2,237,610 at the time of the report.

ADA Price Action

At the time of writing, ADA is trading at around $0.3883, showing a slight drop of about 0.28% over the past 24 hours. According to CoinMarketCap, Cardano ranks as the 7th top crypto asset with a market cap of $13.46 billion. Its 24-hour trading volume is at $196.84 million, increasing 6.57%.

Cardano’s price action over the past 7 days dropped by 2.53%. However, its price trend for the past 30 days and 90 days shows an increase of 24.95% and 22.54%, respectively.

Related Reading: Buckle Up! Bitcoin Bollinger Bands Signal An Impending Rollercoaster Ride

The price performance of Cardano shows that the token is trying to reclaim the $0.40 level after losing it last week. ADA hit the daily trading of $0.3902 on April 9, but couldn’t continue the climb.

Featured image from Pixabay and chart from Tradingview.com

https://www.newsbtc.com/shiba-inu/whale-accumulates-229-billion-shiba-inu-tokens-whats-next/

Recently, whales accumulated 3.73 trillion Shiba Inu (SHIB) within 24 hours at the cost of $42.81 million. Blockchain data provider WhaleStats reported that the first whale purchased 3.50 trillion SHIB tokens, while the second whale purchased 229.96 billion SHIB tokens in a single transaction. 

Whale Purchased 229.96 Billion SHIB In A Single Transaction 

According to WhaleStats, ‘BlueWhale0073’, rated as the 254 biggest ETH Whale, amassed 229.96 trillion SHIB tokens within 24 hours by spending $2.58 million in a single transaction. This transaction from the whale stands as the second-biggest Shiba Inu buy transaction over the past 24 hours.

The leading SHIB buy transaction came from a new Shiba Inu whale who ranks as the 30th biggest SHIB holder as per Etherscan. The new whale bought about 3.50 trillion SHIB tokens worth $40.23 in a single transaction. Also, the new whale is reported to be exclusively holding SHIB tokens.

Further, WhaleStats disclosed that Shiba Inu now ranks as the third most-held cryptocurrency, excluding Ether, among the leading 100 ETH Whales. SHIB is behind USDC and USDT, the first and second most held tokens. The top whales hold over $601.20 million worth of Shiba Inu (SHIB) in their wallets. 

Besides the large purchases of the SHIB tokens, other whales have made massive transactions involving Shiba Inu this week. 

According to data from Whalealert on April 3, an unknown wallet transferred 1.92 trillion SHIB tokens worth $20.5 million to another unknown wallet. Also, an anonymous wallet moved 2.24 trillion SHIB tokens worth $24 million to another unknown wallet.

Shiba Inu Price Performance

CoinMarketCap ranks SHIB as the 14th top crypto asset with a market cap of $6.60 billion. At the time of writing, SHIB is trading at $0.00001136, indicating a drop of 0.31% over the past 24 hours.

Shiba Inu’s price action for the past 1 hour shows an increase of 0.21%. Also, the token surged by 4.73% and 2.65% over the past 7 days and 30 days, respectively. The second largest meme coin, Shiba Inu, has been catching the attention of global Investors.

Shiba Inu has witnessed a surge in ecosystem activities since the beginning of 2023. According to a crypto analyst, SHIB recorded a huge surge in daily active addresses. The surge in Shiba Inu activity is also connected to the launch of the Shibarium Public Beta Testnet, Puppynet. Puppy Scan data reveals Puppynet boasts over 100,000 wallets and over 800,000 transactions

Additionally, CoinMarketCap reported tremendous growth in CMC users with SHIB in their watchlist. The report noted more than 1.84 million CMC users have Shiba Inu on their watchlist for monitoring the price trend of the coin.

Featured image from Pixabay and chart from Tradingview.com

https://www.newsbtc.com/analysis/xrp/xrp-will-survive-even-a-nuclear-war-claims-john-deaton/

Lawyer and crypto enthusiast, John Deaton, has made yet another bullish remark on XRP. True to Deaton’s words, the digital asset has proven resilient amid challenges, including regulatory attacks and backlash from crypto industry players.

While responding to Coindesk’s tweet, Deaton touted XRP as the most resilient coin in the crypto industry that would survive even a nuclear war as it has been topping charts over the past weeks with impressive gains. 

The Surge In Dominance

Deaton’s latest comments come as XRP records massive rallies with over 60% price increase in two weeks, according to Coindesk’s TV platform reports. This has happened despite XRP facing attacks and criticism from top industry leaders like Cardano’s Charles Hoskinson and Vitalik Buterin. 

On December 17, 2022, Charles Hoskinson stated that the XRP community is toxic, and petty and will no longer comment on anything concerning the token. His statement came after Buterin labeled the cryptocurrency a shitcoin while responding to Ripple’s Wells submission amid other criticisms. In addition, some Bitcoin maximalists supported the SEC’s move against XRP, calling it a banker’s coin.

Related Reading: These Top 5 Meme Coins Are Bleeding As March 2023 Ends – Here’s Why

Deaton, who represents thousands of XRP holders as amicus curiae in the Ripple v. SEC lawsuit, made his remarks in light of these criticisms. 

XRP showed incredible performances in South Korea recently, surpassing Bitcoin in trading volume on top exchanges. Coindesk’s TV platform, featuring its executive director, Emily Parker, highlighted these during the recent broadcast. 

Parker attributed the asset’s dominance to the increasing demand for the token by South Korean traders. She further noted that the renewed optimism about the expected outcome of the SEC v. Ripple lawsuit also contributed to XRP’s performance. 

The community, including Ripple’s CEO Brad Garlinghouse, are optimistic about the court’s ruling on the lawsuit. This expectation has boosted their confidence in the coin while sparking bullish sentiment among investors. 

XRP Price Performance Outlook

XRP’s price moves started on March 15 when the assets scored some gains, though very slight. The rally became notable when it added 11%, in a day, on March 21 when other coins’ prices were down. These rallies pushed XRP’s price from $0.3606 on March 15 to $0.5454 on March 29, a 60% increase within two weeks.

Although XRP experienced a slight pullback, the token still holds more than 15% gains over the past week. Not only that, XRP has recorded a 36.69% price gain over the past 30 days. These moves place XRP ahead of most coins in performance and the highest gainer among the top 20 cryptocurrency assets.

XRP is trading at $0.5147, with a 0.54% price increase over the past 24 hours. The asset might climb above the current price level should it maintain its bullish momentum. More so, the token could rally even higher if Ripple emerges victorious in the ongoing SEC lawsuit.

Featured image from Pixabay and chart from Tradignview.com