Machine learning algorithm predicts XPR price for Xmas day

https://finbold.com/machine-learning-algorithm-predicts-xpr-price-for-xmas-day/

As the Christmas festive season draws near, the cryptocurrency market often sees a surge in investor interest, with many looking for promising opportunities to achieve significant returns. 

XRP (XRP), known as the fifth largest cryptocurrency by market cap, stands out as a primary choice for holiday investments. This period is characterized by seasonal market trends where a bullish sentiment can prevail, driven by increased leisure time for trading, year-end bonuses being invested, or a general optimistic outlook for the upcoming year. 

Historically, some cryptocurrencies have exhibited a rise in their values around this time, enticing investors to anticipate similar trends, with assets like XRP attracting those looking to capitalize on short-term movements. 

What makes this accurate? Beyond its current market position, XRP holds potential for further growth, influenced by technological advancements, adoption by financial institutions, or favorable regulatory outcomes related to Ripple, the company closely associated with XRP.

Considering these dynamics, Finbold utilized PricePredictions for its AI-driven machine learning algorithms. These algorithms thoroughly evaluate the fluctuating market conditions and analyze pertinent indicators to predict the probability of XRP experiencing gains by Christmas day.

XRP price prediction for December 25th. Source: PricePredictions
XRP price prediction for December 25th. Source: PricePredictions

The algorithms project that ETH will increase to $0.618231 by the end of the month, representing a slight 0.72% increase from the current asset price at the time of publication.

XRP price analysis

A recent post by CoinsKid on X on December 1 offers valuable insight into the movement of this cryptocurrency and whether investors should sell or hold onto it.

A parameter is set with the “Sell” signal on November 16 when XRP was $0.64. This suggests a recommendation to sell XRP at that time. Anticipating a specific pattern called an “inverse head and shoulders.” This pattern could indicate a trend reversal from a downtrend to an uptrend.

The analysis highlights a price level of $0.5752, which is crucial for this potential reversal. If the price drops below this level, it could invalidate the idea of a bullish reversal, suggesting the downtrend might continue.

XRP’s inverse head and shoulders pattern.  Source: CoinsKid
XRP’s inverse head and shoulders pattern. Source: CoinsKid

At the time of press, XRP was trading at $0.6138, representing an increase of 1.86% in the previous 24 hours. These gains come after a week when this crypto lost -1.06% of its value, contrary to a 2.29% increase over the 30 days.

XRP 24-hour price chart.  Source: Finbold
XRP 24-hour price chart. Source: Finbold

In the last year, XRP price has increased by 53%, allowing it to outperform 64% of the top 100 crypto assets in this period.

This crypto trades above its 200-day simple moving average while experiencing 18 green days in the last 30 days.

However, it is essential to note that this digital asset is experiencing a high level of yearly inflation, which amounts to 16.81%, with its price being -84% from its all-time high.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Horizen EON boosts DeFi on Ascent Exchange with ICHI vault integration 

https://finbold.com/horizen-eon-boosts-defi-on-ascent-exchange-with-ichi-vault-integration/

Horizen EON proudly announces its partnership with Ascent Exchange, introducing simple yield opportunities through ICHI Vault. 

This collaboration is poised to elevate Horizen’s capabilities in the decentralized finance (DeFi) sector, ushering in innovation and efficiency, as per the latest information shared with Finbold.

Horizen EON joins forces with ascent exchange

Marking a significant leap for the Horizen EON ecosystem, this collaboration with Ascent Exchange propels this platform to new heights. Benefit from Ascent’s expertise in decentralized exchange (DEX) operations to ensure more seamless and secure trading experiences.

The integration enhances asset and information transfer across the blockchain network, emphasizing a shared vision for a unified and interoperable digital asset ecosystem. This synergy sets the stage for decentralized applications (dApps) to flourish across diverse platforms.

Ascent Exchange

“Our integration with Ascent Exchange is a testament to Horizen EON’s commitment to interoperability and resilience in the blockchain ecosystem. Ascent’s expertise, coupled with Horizen’s EVM-compatible platform, marks a significant milestone towards creating a more interconnected and robust DeFi ecosystem. Ascent Exchange’s early adoption of the Horizen EON platform is set to redefine the DeFi trading space,” said Rob Viglione, Co-founder of Horizen and CEO of Horizen Labs.

ICHI vaults present easy yield opportunities on Ascent 

Since its launch, Ascent Exchange has incorporated the ICHI Vaults automated liquidity management protocol.

This empowers liquidity providers to earn yield using their preferred tokens on Ascent Exchange. Each ICHI Vault permits depositors to input a single token, utilized as liquidity in an underlying pool.

Prioritizing deposit token yield and guarding against impermanent loss, ICHI Vaults will soon cover a broad spectrum of assets supported by Ascent Exchange.

ICHI Vault
ICHI Vault

Horizen EON’s transformation with Ascent Exchange

The incorporation of Ascent Exchange into the Horizen EON ecosystem is set to yield multiple advantages. As the pioneer decentralized exchange featuring ve(3,3) tokenomics on Horizen EON, Ascent Exchange is positioned to develop a groundbreaking standard in DeFi trading. 

This strategic initiative is expected to draw significant trading volumes and users, solidifying Horizen EON’s status as a premier platform for developers and DeFi enthusiasts.

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Machine learning algorithm predicts Ethereum price for Xmas day

https://finbold.com/machine-learning-algorithm-predicts-ethereum-price-for-xmas-day/

With Christmas on the horizon, astute investors redirect their focus to the cryptocurrency market to pursue opportunities that promise substantial returns. Among the notable cryptocurrencies, Ethereum (ETH) emerges as a top contender for holiday investments.

Why is this the case? ETH offers a distinctive combination of popularity and potential, making it particularly enticing during the festive season.

Given these dynamics, Finbold has leveraged PricePredictions for its AI advanced machine learning algorithms. These algorithms meticulously assess the ever-changing market conditions and analyze relevant indicators to estimate the likelihood of Ethereum experiencing gains by Christmas day.

ETH price prediction for December 25th. Source: PricePredictions
ETH price prediction for December 25th. Source: PricePredictions

The algorithms project that ETH will increase to $2,040 by the end of the month, representing a 0.54% increase from the current asset price at the time of publication.

The computation is based on a broad range of technical indicators, encompassing moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and various others.

Ethereum price analysis

The Ethereum price has been undergoing a consolidative trend spanning several months, forming an ascending triangle setup. While this technical pattern is inherently bullish, confirmation only comes with a successful breakout. Up until now, ETH has yet to demonstrate any clear breakouts.

The ascending triangle configuration consists of highs that are equal and lows that are progressively higher, connected by trend lines. This arrangement indicates a growing bullish sentiment among investors, with an increasing tendency to buy dips.

At the time of press, ETH was trading at $2,031, representing a decrease of -1.44% in the previous 24 hours. These losses come after a week when this crypto lost 2.38% of its value, contrary to a 12.67% increase over the 30 days.

ETH 24-hours chart. Source: Finbold
ETH 24-hours chart. Source: Finbold

In the last year, ETH price has increased by 61%, allowing it to outperform 69% of the top 100 crypto assets in this period.

This crypto trades above its 200-day simple moving average while experiencing 18 green days in the last 30 days.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Machine learning algorithm predicts Ethereum price for Xmas day appeared first on Finbold.

Nexo launches Dual Investment to earn yield and project prices in one interface

https://finbold.com/nexo-launches-dual-investment-to-earn-yield-and-project-prices-in-one-interface/

On November 29, 2023, crypto lender Nexo, expanded its product line with Dual Investment, a high-yield product featuring automated strategies for guaranteed earnings.

Inspired by traditional finance‘s structured products, it seamlessly aligns with Nexo’s customer-centric approach and acclaimed Earn suite, as per the latest information shared with Finbold.

Dual Investment is a focal point in the company’s commitment to catering to varied risk appetites and market exposure preferences. By combining Nexo’s yield-earning suite with its robust infrastructure, clients can act on their asset price projections at a future date and a price of their choosing. 

This allows them to earn passive income, irrespective of the accuracy of their forecasts and market direction.

Who can use Dual Investment?

Cryptocurrency enthusiasts seeking higher yields: Dual Investment offers an appealing option for users aiming to secure returns. It allows them to earn income while having the opportunity to implement their strategy of buying low or selling high without committing to extended investment horizons.

Astute investors in unpredictable markets: Dual Investment provides a chance to strengthen portfolios in uncertain market conditions. This solution offers a consistent income stream, enabling investors to navigate volatile markets and potentially execute transactions at advantageous prices.

Strategic approach of Dual Investment

What’s more, Dual Investment ensures a fixed interest rate when a strategy is subscribed. Featuring two well-defined investment approaches—Buy Low and Sell High—the product is designed to accommodate users’ diverse market perspectives and individual goals.

Tailored for individuals expecting a target price lower than the current market value, the Buy Low strategy enables users to use Tether (USDT) to purchase Bitcoin (BTC) or Ethereum (ETH) at the specified target and date.

Conversely, the Sell High strategy is crafted for users anticipating the target price to exceed the current market value, involving the sale of BTC or ETH for USDT at the target price and date.

“Dual Investment revolutionizes how users engage with BTC and ETH, offering a flexible, intuitive, yet sophisticated platform for predicting asset price movements, all while securing high yields. With the launch, Nexo also aims to showcase the same impeccable user experience that has become our hallmark. This product is a testament to our commitment to innovation and customer-centric design. At the same time, its yield-earning component simply enriches the comprehensive arsenal available to our users,” said Elitsa Taskova, Chief Product Officer at Nexo.

Alongside Nexo’s Fixed Term offering, which delivers high yields over a minimum of one month, the Dual Investment product offers clients a fresh avenue for earning substantial returns over shorter durations. 

Nexo’s user-friendly interface, supported by robust infrastructure and a commitment to transparent business practices, has earned the trust of over 6 million customers, establishing it as a leading force in the digital asset landscape. The consistent application of these core principles empowers Nexo to confidently and enthusiastically introduce innovative products in the digital asset space.

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Machine learning algorithm predicts Shiba Inu price for Xmas day

https://finbold.com/machine-learning-algorithm-predicts-shiba-inu-price-for-xmas-day/

As Christmas approaches, savvy investors are turning their attention to the crypto market, seeking opportunities that could offer substantial returns. Shiba Inu (SHIB), a popular cryptocurrency, stands out as a prime candidate for this holiday investment.

Why? Because, beyond its growing popularity, SHIB presents a unique blend of volatility and potential that makes it especially appealing during the festive season.

With these factors at play, Finbold reached out to PricePredictions, a platform renowned for employing advanced machine learning algorithms. These algorithms carefully examine ever-changing market conditions and analyze pertinent indicators to gauge the probability of Shiba Inu gains by Christmas day.

SHIB price prediction for December 25th. Source: PricePredicitons

Surprisingly, the algorithms project that SHIB will fall to $0.00000825 by the end of the month, representing a -1.67% decrease from the current asset price at the time of publication.

The calculation is derived from an extensive array of technical indicators, including moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and others.

Shiba Inu price analysis

The Shiba Inu price chart draws the focus of technical analysis, depicting a situation that requires attention. Following a phase of volatility, SHIB examines a support level, with its price movement closely following the lower limits of a descending channel pattern.

The RSI is positioned in a neutral zone, indicating the absence of an immediate overbought or oversold condition.

At the time of press, SHIB was trading at $0.00000834, representing an increase of 2.84% in the previous 24 hours. These gains come after a solid week where this crypto added 3.75% to its value and a 4.26% increase over the 30 days.

SHIB 24-hour price chart.  Source: Finbold
SHIB 24-hour price chart. Source: Finbold

In the last year, Shiba Inu has undergone a price decrease of -10%. This decrease indicates that SHIB has been outperformed by 78% of the top 100 crypto assets.

It is important to note that this cryptocurrency is currently trading below its 200-day simple moving average. However, its recent gains contributed to 16 green days in the previous month.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Machine learning algorithm predicts Shiba Inu price for Xmas day appeared first on Finbold.

Cristiano Ronaldo faces lawsuit over promotion of Binance

https://finbold.com/cristiano-ronaldo-faces-lawsuit-over-promotion-of-binance/

As if news of Binance‘s former CEO Changpeng Zhao resigning and facing criminal charges wasn’t enough, football superstar Cristiano Ronaldo is being sued in Florida for advertising this platform.

According to the lawsuit, Michael Sizemore, Mikey Vongdara, and Gordon Lewis allege they experienced financial losses due to Ronaldo’s promotion of the exchange. The platform is accused of failing to implement adequate anti-money laundering measures. Additionally, the exchange is currently facing a demand from US authorities to pay $4.3 billion in settlements.

Charges consist of “promotion, assisting, and/or actively participating in the offer and sale of unregistered securities in coordination with Binance.“

Partnership between Ronaldo and Binance

In 2022, the football player established a long-term collaboration with the exchange. Under the partnership, Ronaldo was to endorse a set of his non-fungible tokens (NFT).

The legal document also states that individuals enrolled in the NFT collection allege a higher likelihood of using the exchange for various activities, including acquiring unregistered securities. These unregistered securities encompass the BNB token and the exchange’s yield programs.

The filing states, “Ronaldo’s promotions solicited or assisted Binance in soliciting investments in unregistered securities by encouraging his millions of followers, fans, and supporters to invest with the Binance platform.“

Additional allegations

As per the legal complaint, Ronaldo is accused of being aware or should have been aware of “Binance selling unregistered crypto securities.” The lawsuit also asserts that the footballer could have sought external advice, given his investment experience and substantial resources.

Furthermore, the lawsuit references the Securities and Exchange Commission’s (SEC) caution to celebrities about disclosing payments for endorsing cryptocurrencies. The plaintiffs argue that Ronaldo failed to disclose payments received from Binance.

How and whether this lawsuit saga will reflect on Binance remains to be seen. Right now, we are witnessing an increased amount of news that is uncovering Binances’ past wrongdoings.

The post Cristiano Ronaldo faces lawsuit over promotion of Binance appeared first on Finbold.

Machine learning algorithm predicts Bitcoin price for Xmas day

https://finbold.com/machine-learning-algorithm-predicts-bitcoin-price-for-xmas-day/

With the holiday season almost upon us, Bitcoin (BTC) might be carrying gifts instead of Santa as it looks to break its resistance zone and continue progressing toward gains.

The increased filings of spot Bitcoin exchange-traded funds (ETFs) and rising attention from prominent institutions have markedly shaped investor sentiment toward the cryptocurrency in the past few weeks.

Amid the raised interest among investors surrounding Bitcoin’s future movements in the coming weeks, Finbold sought insights from PricePredictions, a platform known for utilizing advanced machine learning algorithms. These algorithms meticulously evaluate dynamic market conditions and analyze relevant indicators to assess the likelihood of Bitcoin’s continued success by Christmas day.

BTC price prediction for December 25th. Source: PricePredicitons
BTC price prediction for December 25th. Source: PricePredicitons

Intriguingly, the algorithms project that BTC will fall to $37,033 by the end of the month, representing a -0,04% decrease from the current asset price at the time of publication.

The calculation is derived from an extensive array of technical indicators, including moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and others.

Bitcoin price analysis

In the last year, Bitcoin has undergone a remarkable upswing, showcasing an impressive 123.03% rise in its price. This surge indicates that BTC has outpaced 79% of the top 100 cryptocurrency assets.

Moreover, the primary cryptocurrency is presently trading beyond the 200-day simple moving average, indicating a favorable trend that has captured the interest of experienced investors.

Persisting in a robust market position, Bitcoin is currently trading close to its cycle high, reinforcing its status as a cryptocurrency to closely monitor in the dynamic crypto landscape, marked by 17 green days in the last 30 days.
BTC is currently traded at $37,033, reflecting a 0.90% daily decrease. Cryptocurrency analyst, Michaël van de Poppe, provided his perspective in a post on X on November 24 regarding Bitcoin’s present condition. van de Poppe observed that the next breakthrough for Bitcoin is anticipated to occur upon surpassing the $38,000 threshold.

BTC price resistance point. Source: Michael van de Poppe
BTC price resistance point. Source: Michael van de Poppe

Until then, he believes that a slow accumulation phase or even dips will precede the breakthrough.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Animoca Brands reveals sold-out Season 2 of TinyTap Publisher NFTs

https://finbold.com/animoca-brands-reveals-sold-out-season-2-of-tinytap-publisher-nfts/

On November 27, 2023, Animoca Brands revealed the sell-out of Season 2 of Publisher non-fungible tokens (NFT). 

Developed by TinyTap, Animoca Brands’ subsidiary and a prominent edtech platform for educational games, and conducted through Open Campus, a community-driven Web3 education protocol, the Season 2 sale involved 720 Publisher NFTs, yielding 538,560 EDU tokens (equivalent to about $333,907 at the time of sale), according to the latest information shared with Finbold.

This initiative generated immediate and continuous revenue for the 168 educators on the TinyTap platform who collaborated on creating the publisher NFTs.

Open Campus Publisher NFT season 2

TinyTap introduces Publisher NFTs as an innovative educational concept to enhance content creators’ and publishers’ empowerment, recognition, and motivation.

Utilizing Publisher NFT 

Utilizing TinyTap’s code-free Web2 platform, educators can easily create and share interactive educational content, earning a revenue share when learners use their content.

Publisher NFTs embody co-publishing rights for specific educational content on the TinyTap platform, where the content already generates revenue before being associated with an NFT.

Process of Publisher NFT utilization
Process of Publisher NFT utilization

Yat Siu, the co-founder and chairman of Animoca Brands, said: 

“The Season 2 Publisher NFTs sale by Open Campus and TinyTap marks a pivotal moment in the march of educational content toward becoming a new asset class. This success underscores the immense potential of digital property rights to unlock new earning opportunities for educators in the digital age.”

Yogev Shelly, the CEO of TinyTap, stated: 

“This milestone is not just about providing better earning opportunities for educators; it’s about building a future in which communities play a pivotal role in shaping curricula and empowering teachers and content creators to pave a path toward true educational autonomy.”

Proceeds for NFT sales

What’s more, Publisher NFTs grant creators of educational content digital property rights, offering newfound autonomy and earning opportunities. Each creator receives 50% of the net proceeds from the initial NFT sale and a 10% ongoing share of the revenue generated by the co-published content. Additionally, creators receive a 5% royalty from the secondary sale of their NFTs, facilitated by Open Campus on behalf of Season 2 creators.

As co-publishers of the linked content, NFT holders receive up to 80% of the revenue share when promoting and marketing the associated content. This collaborative approach allows creators to concentrate on content creation while TinyTap and NFT holders distribute and promote the content with incentives.

Moreover, Publisher NFT holders can market and sell their assets independently to customers outside the TinyTap platform.

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ChatGPT picks 5 cryptocurrencies to buy for December

https://finbold.com/chatgpt-picks-5-cryptocurrencies-to-buy-for-december/

Facing the turmoil of the largest cryptocurrency exchange, Binance, and recent rocky charts that have seen most crypto assets experience a cutback on their gains, investors are now left wondering what is next on the horizon.

With the fear on the rise, most of the top 100 altcoins have retraced in the past week. Recently, many have lost a significant portion of their November gains. In light of this, investors are looking for potential opportunities amidst the fear, uncertainty, and doubt (FUD) affecting the market.

“If #FUD becomes prominent, #buythedip opportunities should be worth exploring.” Santiment posted on X on November 27.

FUD is inflicting damage on most of the top 100 crypto assets. Source: Santiment
FUD is inflicting damage on most of the top 100 crypto assets. Source: Santiment

Considering the recent developments, Finbold has turned to artificial intelligence (AI) to provide traders with possible safe havens for the upcoming period. Specifically, ChatGPT, an AI program by OpenAI, recommended 5 crypto assets to watch in December based on market trends and analytics.

Bitcoin (BTC)

Unsurprisingly, AI has chosen the flagship cryptocurrency, Bitcoin (BTC), as the first pick among the cryptos to buy next month, as it has experienced a positive change of over 8% in the previous 30 days.

ChatGPT picks Bitcoin as the first crypto to buy in December. Source: Finbold and ChatGPT
ChatGPT picks Bitcoin as the first crypto to buy in December. Source: Finbold and ChatGPT

News of the potential approval of the Bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC) in the near future has been driving investors’ optimism in the previous month. Including big industry players, such as BlackRock, would represent a significant milestone in adopting digital assets in mainstream finance.

In addition to the industry recognizing the importance of this digital asset, there is an increased amount of news of state factors looking to implement BTC in some form as a financial instrument.

Ethereum (ETH)

The next pick in the line is Ethereum (ETH), extending its positive momentum from the preceding weeks and successfully surpassing the critical resistance zone.

Given its capability to deploy decentralized applications, ChatGPT notes, “it has shown impressive growth since its inception. Its rivalry with Bitcoin and its substantial market capitalization makes it a key cryptocurrency to watch.”

Ethereum has recently surpassed a resistance range between $1,982 and $2,044. Notably, 1.67 million crypto wallets acquired 38.73 million ETH, allowing it to aim at more significant gains soon.

On November 25, during an interview with Defiant in Turkey, Ethereum co-founder Vitalik Buterin discussed the need to enhance Ethereum’s staking process for improved mining and staking pools, aiming to increase platform decentralization in response to challenges posed by data availability in off-chain systems, which highlights the developers’ commitment towards continuous improvement of this digital asset.

Binance Coin (BNB)

Despite Changpeng Zhao’s departure, Binance (BNB) is still a leading cryptocurrency exchange. Consequently, Binance Coin is AI’s third pick for the next month’s purchase.

ChatGPT states:

“Originating from the world’s largest crypto exchange, Binance, BNB has experienced remarkable growth since moving to the Binance Chain. Its growth rate and market capitalization make it a notable cryptocurrency.”

Quick response to legal troubles is highlighted in the appointment of Richard Teng, who swiftly announced the commitment to Binance’s core values of customer protection and constant improvement of its platform.

Another solid indicator is that despite the significant outflow of $1 billion from Binance, on-chain data indicates a swift recovery. Interestingly, the figures align with Binance’s typical daily patterns, alleviating concerns about its financial stability. Initially down by 25%, liquidity is now displaying positive signs of recovery, as per a post by Nansen on November 22.

Tether (USDT)

Tether (USDT), the leading stablecoin by market cap, is commonly utilized by crypto traders for seamless transfers between cryptocurrencies and converting investments to or from fiat currencies. Its value is pegged to the U.S. dollar, which is a cause for it being a fourth pick to buy by ChatGPT.

On Tether, ChatGPT commented:

“Tether (USDT): As a stablecoin pegged to the USD, Tether offers a less volatile option in the crypto market. Its stability in a generally volatile market makes it an interesting option to consider.”

Recent news that Tether and its affiliated crypto exchange Bitfinex have chosen to no longer oppose a Freedom of Information Law (FOIL) request initiated by journalists indicates a positive sign after the accusations over the lack of transparency regarding the verifiability of its claimed fiat reserve.

Solana (SOL)

Boasting low transaction costs and quick scaling, Solana (SOL) earned AI’s fifth-place pick for the next month’s purchase.

ChatGPT picks Solana as the fifth crypto to buy in December. Source: Finbold and ChatGPT
ChatGPT picks Solana as the fifth crypto to buy in December. Source: Finbold and ChatGPT

A recent analysis by CoinEX Global, posted on November 24, highlights and explains the main reasons behind the strong SOL performance in the previous period. The surge in SOL and related asset prices attracted increased capital inflow into the Solana-based protocols ecosystem, which, coupled with the strong performance of its projects (dePIN, DeFi), paved the ground for future solid performances.

With the cryptocurrency sector susceptible to short-term volatile movements, it is crucial to undertake necessary fundamental and technical preparation when deciding upon your next investment.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post ChatGPT picks 5 cryptocurrencies to buy for December appeared first on Finbold.

Terra Classic soars 50% in a day; Is $0.10 next for LUNC?

https://finbold.com/terra-classic-soars-50-in-a-day-is-0-10-next-for-lunc/

Terra Classic (LUNC) has witnessed an impressive surge of 97.22% over the last 30 days, a significant increase from its October 27 price of $0.0000646, which has prompted investors to set their sights on the $0.10 mark.

In the most recent 24-hour period, LUNC, the native token of the troubled Terraform Labs, experienced a substantial 54.23% spike in value. This surge comes amid the recent news of the possible extradition of the former CEO of Terraform Labs, Do Kwon, from Montenegro to either South Korea or the USA.

Along with its price gains, Terra Classic’s market cap experienced a significant increase, which at press time stood at $718 million, which is an increase of $270 million or 54.57% from the $448 million it stood at seven days ago, according to the latest information obtained by Finbold from the cryptocurrency monitoring platform CoinMarketCap on November 27.

Terra Classic 7-day market cap chart. Source: CoinMarketCap
Terra Classic 7-day market cap chart. Source: CoinMarketCap

Recent developments surrounding Terra Classic

Previously this year, the US Securities and Exchange Commission (SEC) accused Terraform Labs and Kwon of orchestrating a multi-billion dollar crypto fraud, explicitly involving a Terra algorithmic stablecoin and other securities. News of possible extradition and resolution of these charges is immediately reflected upon the price of LUNC.

Coupled with the recent announcement of Binance Futures listing TerraClassicUSD (USTC) perpetual contracts, featuring up to 50x leverage. Terra Classic’s value has gained an even more optimistic outlook with this news.

Additionally, the Terra Luna Classic v2.3.0 upgrade proposal has gained community approval via governance voting. The on-chain deployment of terrad client v2.3.0, known as “v6,” includes a dynamic validator commission module.

Terra Classic price analysis

Meanwhile, at the time of press, Terra Classic was trading at $0.0001227, reflecting a 52.97% increase in the last 24 hours. Along with this improvement, it surged by 59.24% over the past seven days and an over 90% advance on its monthly chart.

LUNC 7-day price chart. Source: Finbold
LUNC 7-day price chart. Source: Finbold

At the moment, LUNC is currently experiencing 15 green days out of a possible 30 in the previous period, which, coupled with a negative yearly inflation rate of -3.18%, presents solid fundamentals.

However, it is essential to note that it is currently trading below its 200-day moving average, which indicates the previous movements of a singular asset and can give a general direction of its possible direction. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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3 cryptos to buy under $0.10 next week

https://finbold.com/3-cryptos-to-buy-under-0-10-next-week/

Numerous cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), have been methodically challenging and surpassing new resistance levels amidst the prevailing market upswing.

This trend has allowed lesser-known altcoins to witness value surges concurrently.

Alternative digital assets exhibiting vital fundamental attributes and promising technical indicators are particularly noteworthy, attracting growing attention. Ongoing improvements to their underlying blockchain structures contribute to the positive sentiment prevalent in the investment community.

Leveraging fundamental indicators and technical analysis, Finbold has compiled a roster of the most promising cryptocurrencies priced under $0.10, offering potential profit opportunities in the upcoming week.

Dogecoin (DOGE)

Recently, the news of derivatives trading volume for Dogecoin (DOGE) has significantly increased, profoundly influencing the memecoin. Short positions, which indicate bets against the price, reached an impressive $718.23 million on November 17. Long positions and bets in favor of the price increase totaled $627.60 million, establishing a ratio of 53.35% to 46.63%.

Additionally, many Dogecoins have moved out of stagnant wallets in the previous days. This increase in wallets that hold more than $1 million in DOGE, combined with the spike in activity of dormant holders, is often a sign of a price direction change and ‘a sign of big money interest,’ as reported by Finbold on November 23.

DOGE’s price was $0.08 at the time of publication, meaning it had risen approximately  2.20% over the past 24 hours. It experienced a decrease of -7.39% in the previous week, which contrasts with the gains made over the last month’s period, which amounted to 17.32%.

DOGE 24-hour price chart. Source: Finbold
DOGE 24-hour price chart. Source: Finbold

Hedera (HBAR)

Known as one of the cryptocurrencies whose development team is constantly looking for upgrades and projects to blockchain that will upgrade their product, Hedera (HBAR) could be a potentially lucrative proposal next week.

Another positive development comes after the announcement of approval of the proposal from Walter Hernández, a researcher from the DLT Science Foundation (DSF), who introduced an improvement for validating and verifying the source code of deployed smart contracts. This week, the proposal has been successfully implemented, substantially enhancing the interaction between developers and users with smart contracts on Hedera.

As of the time of publication, HBAR was priced at $0.06, indicating a rise of approximately  0.78% within the last 24 hours. Over the past week, it decreased by 0.85%, compared to the gains of 20.69% made throughout the preceding month.

HBAR 24-hour price chart. Source: Finbold

VeChain (VET)

VET, the native cryptocurrency of the esteemed VeChain network, has recently captured the attention of cryptocurrency investors.

This is confirmed by the recent announcement from VeChain in a post on X, stating that “ Since November 1, nearly 160,000 new addresses have joined VeChain, partly due to our ongoing Coinbase Learn program. This initiative has allowed us to exhibit our capabilities and achievements to over 100 million KYC’d users.”

The surge in holders was probably fueled by Coinbase’s announcement on September 12 regarding its decision to support VET and the other VeChain tokens. 

At the time of publishing, VET is valued at $0.02, reflecting an increase of approximately 1.18% in the past 24 hours. In the preceding week, it experienced an increase of 1.69%, adding to the positive trend that saw gains of 11.88% over the last month.

VET 24-hour price chart. Source: Finbold
VET 24-hour price chart. Source: Finbold

These three cryptocurrencies, selected based on fundamental and technical analysis, show promise for potential investors in the upcoming week.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Biggest crypto gainers since OpenAI fired and rehired Sam Altman

https://finbold.com/biggest-rypto-gainers-since-openai-fired-and-rehired-sam-altman/

The news of firing and rehiring Sam Altman, CEO of OpenAI, the company behind the artificial intelligence (AI) program that created ChatGPT, caused shockwaves this last week, leading to surges and dips in both the stock market and the cryptocurrency world.

Several crypto assets experienced notable gains in the period when the saga of Altman’s job status was unfolding, according to a post by CoinGecko on X on November 23.

The crypto data platform noted that:
“Akash Network (AKT) took the lead, soaring by 61.1% from $1.02 to $1.65 on Nov 23, 2023. It peaked at 80.4% on Nov 20, reaching $1.85.”

Biggest gainers during Altman’s firing and rehiring by OpenAI.   Source: CoinGecko
Biggest gainers during Altman’s firing and rehiring by OpenAI. Source: CoinGecko

Notably, on November 20, 2023, 9 out of 11 AI tokens experienced their peak, with gains ranging from 19.3% to 80.4%. This surge occurred shortly after Microsoft’s (NASDAQ: MSFT) announcement that Altman, Brockman, and their colleagues would be joining to spearhead a new AI research team.

Biggest gainers during Altman’s saga

The surge in AI token prices occurred amid expectations of spot Bitcoin (BTC) exchange-traded fund (ETF) approval. The market’s attention was additionally captivated by OpenAI’s decision to terminate and rehire Sam Altman, contributing to the ongoing rally of AI tokens.

Chronology of gains made during Altman’s job saga.  Source: CoinGecko
Chronology of gains made during Altman’s job saga. Source: CoinGecko

Akash Network (AKT) emerged as the top performer following OpenAI’s announcement of Sam Altman’s termination on November 17, 2023, experiencing a 61.1% increase from $1.02 to $1.65 by November 23, 2023. Its peak occurred on November 20, reaching an 80.4% surge with a price of $1.85.

OriginTrail (TRAC) secured the second position, with a 45.8% gain from $0.26 to $0.38 during the same timeframe. It reached its highest point, a 50.9% increase, on November 20, at $0.40.

Bittensor (TAO) is closely following as the third most significant gainer, registering a 33.9% increase from $171.87 to $230.15. Its peak, a substantial 71.3% rise, occurred on November 20, when its price reached $294.39.

On November 22, 2023, two of the eleven AI tokens peaked, showcasing gains ranging from 26.4% to 50.9%. This surge occurred shortly after OpenAI’s announcement of Altman’s return as CEO. Worldcoin (WLD), founded by Sam Altman, and OriginTrail (TRAC) were the tokens that experienced peak gains following this significant announcement.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Court in Montenegro approves extradition of Terra founder Do Kwon

https://finbold.com/court-in-montenegro-approves-extradition-of-terra-founder-do-kwon/

Do Kwon, former CEO of Terraform Labs, which acted as a parent company of Terra (LUNA), might soon face justice after spending months on the run before incarceration in Montenegro.

Previously this year, the US Securities and Exchange Commission (SEC) accused Terraform Labs and Kwon of orchestrating a multi-billion dollar crypto fraud, explicitly involving an algorithmic stablecoin and other securities.

The SEC asserts that Terra and Kwon portrayed cryptocurrencies as securities to investors, characterizing the entire Terra ecosystem as an intricate fraud orchestrated by multiple collaborators.

Kwon faces charges primarily related to securities fraud, conducting an unregistered securities offering, and additional securities violations. Simultaneously, amid the SEC charges, the agency alleges that he cashed out more than 10,000 Bitcoin (BTC) from Terra.

Arrest in Montenegro and possible extradition

After being arrested in March this year while trying to enter Montenegro with falsified documents and consequently being sentenced to four months in jail, Do Kwon now faces the prospect of answering for his crimes that led to an international chase.

The court in Podgorica, the capital of Montenegro, has approved the extradition of Terra founder Do Kwon to either South Korea or the United States, as indicated in a recent update on the judiciary’s website on November 24.

Following a four-month prison sentence in Montenegro for document forgery, the ultimate decision regarding the extradition will rest with the Montenegrin Justice Minister, as stated in the update.

In recent weeks, the Montenegro High Court affirmed the four-month prison sentence for Kwon and his associate Han Chang-Joon on charges of document falsification. Their appeal was dismissed, and the court deemed the sentence fitting. Kwon now faces the possibility of extradition to South Korea or the United States.

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FTX founder gives crypto tips to guards behind bars

https://finbold.com/ftx-founder-gives-crypto-tips-to-guards-behind-bars/

Sam Bankman-Fried, once revered as a “King of Crypto,” has experienced a fall from grace in a year that saw him turning from CEO of one of the most popular crypto exchanges, FTX, into a convict who awaits his guilty verdict in a jail cell.

Since August, the founder of FTX has been incarcerated after a federal judge annulled his bail due to probable cause of witness intimidation, a charge vehemently denied by Bankman-Fried.

In a swift verdict earlier this month, a jury convicted him within a few hours on charges of embezzling billions from FTX customers, concurrently defrauding investors and lenders. His sentencing is set for March 28, 2024, after which he will be transferred to a federal prison to commence his term.

Although Bankman-Fried has concluded his days of investing billions in startups and trading digital tokens, he is still providing guards with cryptocurrency advice from his cell walls, as The Wall Street Journal reported on November 23.

What is life like for SBF in prison?

His current residence, Brooklyn’s Metropolitan Detention Center, has faced longstanding criticism from defense lawyers and the jail guards’ union, citing subpar conditions and chronic understaffing. 

According to the individual familiar with the matter, he is permitted non-attorney visitors weekly and has been provided access to a specialized laptop to review legal materials.

Bankman-Fried shares his unit with Genaro García Luna, Mexico’s former secretary of public security, convicted this year for aiding the Sinaloa cartel in smuggling over 50 tons of cocaine into the U.S. Also in the unit is Juan Orlando Hernández, former President of Honduras, awaiting trial on federal drug-trafficking and firearms charges.

Bill Baroni, the prison consultant, mentioned that when Bankman-Fried relocates to federal prison, he’ll probably take his mackerel packets along, as they are used as currency inside the prison system. Baroni recalled paying four macks for his haircut during his own time in prison.

He humorously remarked, “The mack currency system is way more reliable than crypto.”

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What’s the next meme coin to break the internet?

https://finbold.com/whats-the-next-meme-coin-to-break-the-internet/

Bonk (BONK) posted impressive numbers in the previous month, marked by a cryptocurrency rally, which has prompted its price surge by almost 1,300%, a development that investors are keenly tracking.

Considering that Bonk is significantly less popular or recognized than meme coins such as Dogecoin (DOGE), FLOKI (FLOKI), or Pepe (PEPE), its ascent in the ongoing cryptocurrency rally is all the more noteworthy.

Contributing to its growing recognition, a significant development occurred on November 20 when Bitmex officially declared that BONK is now accessible for trading on its cryptocurrency exchange platform. This announcement is expected to play a pivotal role in further elevating the coin’s prominence in the market.

The meme coin is poised for an additional boost, with Binance, the world’s largest cryptocurrency exchange by volume, announcing its official support for perpetual futures trading for Bonk on Wednesday, November 22.

Current market sentiment and the recent implementations by popular trading platforms indicate that traders feel optimistic about this digital asset in the future.

BONK price analysis

As of the current publication, BONK’s value rests at $0.00000441, reflecting a decrease of 4.29% within the past 24 hours. This decline contradicts a remarkable trend, with a substantial and consistent 1,000% rise observed over the previous month. 

A growth that can be attributed to Solana’s (SOL) own gains made in this period, since Bonk is the first meme coin based on it.

BONK 30-day price chart.  Source: CoinMarketCap
BONK 30-day price chart. Source: CoinMarketCap

In the meantime, this crypto asset has posted solid fundamentals. Most notably, it is trading above its 200-day moving average, which serves as a great indicator of the previous movements of a singular asset and can give a general direction of its possible direction. Additionally, it has experienced 17 green days in the previous month.

Nevertheless, it’s crucial to bear in mind the volatile nature of the cryptocurrency market, exemplified by the recent trajectory of Solana, from which BONK derives. Despite initially seeming unstoppable in the first two weeks of November, its surge has since decelerated and even experienced a slight reversal in the last 7 days.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post What’s the next meme coin to break the internet? appeared first on Finbold.

Jim Cramer urges viewers to ‘just buy Bitcoin’

https://finbold.com/jim-cramer-urges-viewers-to-just-buy-bitcoin/

With the overall sentiment in the cryptocurrency sector becoming more optimistic and Bitcoin (BTC) reclaiming the significant price level of $37,500, investors wonder whether to dedicate their holdings toward crypto-related businesses.

One person who shared his thoughts on the latest developments is Jim Cramer, widely acknowledged for his dynamic persona and outspoken views on stocks and cryptocurrencies.

Following a question on his thoughts on CleanSpark (NASDAQ: CLSK) in his latest episode of CNBC Lighting Round, Cramer responded:

“If you like Bitcoin, buy Bitcoin. That has always been my view, and for a while, I liked it, and then I decided that money had been made. I acted premature, but money has been made.”

YouTube viewers pessimistic about the BTC outlook for 2024

In what seems to become a popular inverse trend, Cramer’s comments have sparked bearish comments against the BTC on the media platform YouTube.

“Bitcoin tanked right after this, but it’s back up.” Responded one commenter under the video.

Another one added, “Jim Cramer says Buy Bitcoin? SELL!!!”

These recent comments mark a reverse from a statement on October 10, in which Cramer recommended to his audience that the prevailing conditions provided “another good opportunity to exit the crypto market.”

Nevertheless, it is noteworthy that following Cramer’s cautious advice, the flagship digital asset has undergone a remarkable surge and is currently trading at $37,337.

Bitcoin price analysis

At press time, the maiden crypto asset was changing hands at the price of $37,337, up 2.40%, while its price remained the same across the previous week but still holding onto the 8.45% gain on its monthly chart, as the most recent data indicates.

BTC 24-hour price chart.  Source: Finbold
BTC 24-hour price chart. Source: Finbold

At the same time, BTC is posting strong fundamentals, trading above the 200-day moving average and experiencing 17 green days in the previous month.

Additionally, it experienced a 126% price increase over a year, allowing it to outperform 86% of its counterparts in the top 100 crypto assets.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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100 new DOGE millionaire wallets emerge; A sign of ‘big money’ interest

https://finbold.com/100-new-doge-millionaire-wallets-emerge-a-sign-of-big-money-interest/

After a turbulent period in the last week, altcoins are on their way up in the previous 24 hours. 

Most notably, there was a significant increase in the creation of Dogecoin (DOGE) wallets during the last month that held more than $1 million of the cryptocurrency, with 121 new wallets in total popping up.

In fact, a massive amount of Dogecoins have moved out of stagnant wallets in the last 24 hours. This increase in wallets that hold more than $1 million in DOGE, combined with the spike in activity of dormant holders, is often a sign of a price direction change and ‘a sign of big money interest,’ according to Santiment data on X on November 22. 

An influx of wallets that hold $1 million or more in DOGE.  Source: Finbold
An influx of wallets that hold $1 million or more in DOGE. Source: Finbold

Additionally, Dogecoin has experienced a substantial uptick in its derivatives volume. The notable surge has significantly impacted the memecoin, with short positions reaching an impressive $718.23 million on November 17. These 24-hour-long positions for DOGE amounted to $627.60 million, establishing a ratio of 53.35% to 46.63%.

DOGE price analysis

DOGE’s price was $0.08 at the time of publication, meaning it had risen approximately 2.17% over the past 24 hours. It experienced a decrease of -2.85% in the previous week, which contrasts with the gains made over the last month’s period, which amounted to 14.15%.

DOGE 24-hour price chart.  Source Finbold
DOGE 24-hour price chart. Source: Finbold

With positive indicators, such as its trading above the 200-day moving average and 18 green days in the previous months, it is no wonder that this digital asset is experiencing a price increase.

However, it is essential to note that it is currently being outperformed by 76% of the top 100 cryptos, as well as its current reduction of -90% from its all-time high.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post 100 new DOGE millionaire wallets emerge; A sign of ‘big money’ interest appeared first on Finbold.

JPMorgan says Binance settlement helps avoid risk of collapse

https://finbold.com/jpmorgan-says-binance-settlement-helps-avoid-risk-of-collapse/

After the news of the settlement reached by crypto exchange Binance with U.S. prosecutors on Tuesday, November 21, JPMorgan analyst Nikolaos Panigirtzoglou shared his view on the agreement as a positive development for its business and the broader cryptocurrency sector.

“We see the prospect of settlement as positive as uncertainty around Binance itself would subside, and its trading and BNB Smart Chain business would benefit. For crypto investors, the prospect of settlement would see the elimination of a potential systemic risk emanating from a hypothetical Binance collapse.” As per Panigirtzoglou’s comments to the Block on November 22.

In a far-reaching settlement with U.S. agencies on Tuesday, November 21, Binance and its co-founder Changpeng Zhao “CZ” plead guilty to charges of anti-money laundering and U.S. sanctions violations. Binance committed to a payment of $4.3 billion, marking one of the largest corporate settlements in U.S. history.

Zhao will pay a $50 million fine and step down as CEO as part of the agreement. This resolution, involving the Justice Department, Treasury Department, and the Commodity Futures Trading Commission, ended a lengthy investigation into the exchange.

What is next for Binance?

After he resigned from his position as CEO of Binance, Zhao released an internal memo in which he wrote:

“Binance will be fine. I will have to deal with some pain, but will survive. We will get through, although with some changes in structure. It might not be a bad thing when we look back in a few years time.”

Zhao’s internal memo to Binance employees. Source: Wu Blockchain
Zhao’s internal memo to Binance employees. Source: Wu Blockchain

In light of the settlement announcement, Binance has experienced outflows exceeding $1 billion in the last 24 hours, contrasting with some competing exchanges.

Additionally, Binance’s native token, BNB, has declined by nearly 9% in the past 24 hours, trading at approximately $233.

The post JPMorgan says Binance settlement helps avoid risk of collapse appeared first on Finbold.

FTX Token skyrockets over 40% as Binance faces legal battle

https://finbold.com/ftx-token-skyrockets-over-40-as-binance-faces-legal-battle/

FTX Token (FTT) has posted impressive numbers over the past 30 days, increasing by 296.17% from its price of $1.05 on October 22. 

In the past 24 hours, FTT, the native token of the disgraced FTX exchange, experienced a huge surge in value, amounting to 45%, most likely contributed by the recent developments surrounding its rival crypto exchange platform, Binance.

At the time of press, FTT was trading at $4.26, representing an impressive 43.24% positive increase in the 24-hour period, which followed a 21.08% increase over the 7-day period.

FTT 24-hour price chart.  Source: Finbold
FTT 24-hour price chart. Source: Finbold

This value increase comes from solid indicators in the same period, where it has outperformed 89% of the top 100 crypto assets in a year. Also, FTT has had 18 green days in the previous 30 days and is trading above the 200-day moving average simultaneously.

However, it is still -95% down in value from its all-time high, which at one point amounted to $84.

Traders swap BNB for FTT

This value increase is credited with the positive sentiment regarding this digital asset. At the same time, its upward momentum suggests that traders are exchanging their Binance Coin (BNB) for FTT following the escalation of regulatory issues for Binance.

In response to Binance discontinuing its US operations, some funds seem to be shifting into FTX Token, as per Santiment post on X on November 22.

The behavior analysis platform noted: “Although many see the #Binance news as the main culprit for one of the biggest retraces of the year, the fact of the matter is that #altcoins had already seen shrinking market caps. Interestingly, it appears some traders are swapping their $BNB for @FTX_Official’s $FTT.”

Switch in traders holdings between BNB and FTT.  Source: Santiment
Switch in traders holdings between BNB and FTT. Source: Santiment

Developments contributing to FTT’s value surge

Despite its troubled past, which saw the FTX cryptocurrency derivatives exchange filing for bankruptcy in November of 2022 and recent legal verdicts against its owner, Sam Bankman-Fried, FTT seems to be rallying its price recently.

Another development that has spelled gains for FTT is the legal proceedings against its rival’s (Binance) now-former CEO Changpeng Zhao, who announced his resignation yesterday.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post FTX Token skyrockets over 40% as Binance faces legal battle appeared first on Finbold.

Google Bard predicts Terra Classic price for start of 2024

https://finbold.com/google-bard-predicts-terra-classic-price-for-start-of-2024/

Artificial intelligence (AI) platforms such as Google Bard play a pivotal role in analyzing trends and insights into the cryptocurrency sector, specifically focusing on assets like Terra Classic (LUNC).

As this crypto experienced a significant resurgence in the previous period, which has seen its value increase by over 30%, investors are wondering whether this asset will return to the top 100 crypto assets by market capitalization or will fail to do so.

Capitalizing on the advanced functionalities of Google Bard, Finbold is dedicated to extracting valuable insights into LUNC’s potential future price movements. This involves tapping into the prowess of AI to formulate predictions based on well-researched data taken on November 22 for the Terra Classic price for the start of 2024.

Bard’s estimates for LUNC

The AI tool predicts a price range of $0.00006 to $0.0001 for LUNC in early 2024. This span encompasses the possibility of continued growth spurred by positive developments while recognizing the potential for price fluctuations influenced by market conditions and various factors.

If this prediction materializes, it would represent a 40% increase to the upper range of the prediction of $0.0001.

Terra Classic price prediction for start of 2024. Source: Finbold and Google Bard
Terra Classic price prediction for the start of 2024. Source: Finbold and Google Bard

However, readers should approach cautiously and acknowledge that the projected range is speculative. Due to the inherently unpredictable nature of cryptocurrency prices, the actual price of LUNC at the start of 2024 might deviate, either exceeding or falling below this range.

Factors to consider regarding Terra Classic

As one of the main factors, the chatbot highlighted the burn mechanism and supply reduction. 

The “effectiveness of the burn mechanism and the overall reduction in LUNC’s circulating supply will play a vital role in its price movements. A successful burn mechanism that consistently removes LUNC from circulation will create a deflationary environment, potentially increasing the value of the remaining tokens.”

Additionally, the AI platform highlighted the importance of Terra Classic’s community:

“The activity and support of the Terra Classic community and ongoing development efforts will significantly impact LUNC’s price. A strong and active community can attract new investors and users, boosting demand. Continuous development and improvements to the Terra Classic ecosystem can enhance its utility and appeal, driving up its price.”

The importance of the community is highlighted in the recent news of Proposal 11874, titled “Upgrade to v2.3.0,” which has been officially approved. The primary objective of this proposal was to implement the dyncomm module, incorporating protocol logic to determine minimum validator commissions based on voting power.

Another noteworthy development is the recent declaration from Binance, one of the largest cryptocurrency exchanges globally. Binance intends to modify the leverage, margin tiers, and capped funding rate for various crypto perpetual contracts, including the 1000LUNCUSDT contract.

LUNC price analysis

Terra Classic was at press time trading at the price of $0.000071, recording a decrease of -5.33% on the day, in addition to decreasing -12.43% across the previous week. Nevertheless, the token gained 22.93%% over the past month, according to the latest data retrieved by Finbold on November 22.

Terra Classic 30-day price chart. Source: Finbold

It is important to note that this crypto token is trading below its 200-day moving average and has experienced just 14 green days in the previous month.

Despite this, it boasts high liquidity and availability on Binance, coupled with a negative yearly inflation rate of -3.29%.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Google Bard predicts Terra Classic price for start of 2024 appeared first on Finbold.

Abu Dhabi-based Bitcoin miner Phoenix Group raises $370 million in IPO

https://finbold.com/abu-dhabi-based-bitcoin-miner-phoenix-group-raises-370-million-in-ipo/

Phoenix Group, a Bitcoin (BTC) mining and colocation service provider based in Abu Dhabi, has made a significant mark by successfully raising $370 million in its recent initial public offering (IPO).

The company disclosed this achievement in a statement on Tuesday, November 21, highlighting that the IPO received an overwhelming response, being oversubscribed by an impressive 33 times. Notably, the demand from retail investors stood out, with a remarkable oversubscription rate of 180 times.

The IPO process, initiated on November 16 on the Abu Dhabi Securities Exchange (ADX), concluded on November 18. The company is now preparing for trading to commence on December 4, with its shares listed under the ticker symbol PHX. Phoenix Group offered 907 million shares during the IPO, representing 17.64% of its stakes, with the intention of raising 1.3 billion UAE Dirhams, equivalent to approximately $370 million.

Bijan Alizadehfard, Co-Founder and CEO of Phoenix Group PLC, noted that “the overwhelming interest during the offer period is a powerful endorsement of our pioneering role in cryptocurrency mining and blockchain. The anticipation leading up to our listing on ADX, as reflected by the oversubscription, is a testament to the confidence investors place in our vision and the potential they see in Phoenix Group.”

Previous undertakings of Phoenix Group 

Phoenix Group operates across various business segments, engaging in hosting and mining activities across the U.S., Canada, Europe, and the Middle East. Beyond its core services, the company sells miners and hardware wallets to retail users. Additionally, it manages the Abu Dhabi-regulated crypto investment platform M2.

The IPO prospectus reveals Phoenix Group’s financial performance. For the first nine months of this year, the company reported a gross profit of $76 million on revenue of $229 million. Looking at 2022, Phoenix experienced a gross profit of $171 million, boasting a healthy gross margin of 22.6%.

Phoenix Group’s IPO’s success underscores the growing interest in cryptocurrency-related businesses and positions the company as a key player in the Bitcoin mining and colocation sector. As it enters the public trading arena, Phoenix looks poised to contribute significantly to the evolving landscape of the crypto industry.

The post Abu Dhabi-based Bitcoin miner Phoenix Group raises $370 million in IPO appeared first on Finbold.

Shibarium hits 4 million transactions on the network

https://finbold.com/shibarium-hits-4-million-transactions-on-the-network/

Since its inception on August 16, Shibarium, the layer 2 blockchain network developed by the creators of the Shiba Inu (SHIB) cryptocurrency ecosystem, has sparked significant interest. This is evident in the growing number of wallets and the recent achievement of a new record in transaction volume.

Indeed, Shibarium has reached a new all-time high (ATH) by surpassing the milestone of 4 million transactions (4,007,358 as of the current publication). This data, sourced from the Shibariumscanexplorer on November 21, highlights the continual expansion of its user base.

Shibarium total transactions. Source: Shibariumscan explorer

Presently, the cumulative count of cryptocurrency wallets on Shibarium reaches 1,270,675, indicative of an approximate daily growth rate of 13,099 new addresses since its inception. This represents an addition of 20,611 wallets since the last report by Finbold on September 21.

BONE price analysis

In the meantime, BONE, which is dubbed as “passport to Shibarium” by Shytoshi Kusama, the developer of the Shiba Inu crypto ecosystem and ShibaSwap decentralized exchange (DEX), is changing hands at the price of $0.64, recording a decrease of -3.17% on the day, down -5.11% in a week and down -10.21% across the previous 30 days, as per the latest data.

BONE 7-day price chart.  Source: Finbold
BONE 7-day price chart. Source: Finbold

It is noteworthy that, at the current juncture, the smart contract of BONE is still under the supervision of Kusama (KSM) and his development team, who are committed to transferring this control to the community at a designated time.

SHIB price analysis

Simultaneously, SHIB, the cryptocurrency Shibarium stemmed from, is currently trading at $0.0000084. This reflects a -3.48% decline in the past 24 hours, a -2.71% loss over the preceding seven days, and an 18.71% gain on its monthly chart, as per data available on November 21.

SHIB 7-day price chart.  Source: Finbold
SHIB 7-day price chart. Source: Finbold

Recently, Shiba Inu has introduced a “Donate” feature to its blockchain solution, Shibarium. This feature enables users to provide financial support to non-profit validators who play a crucial role in enhancing the network’s security and efficiency.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Shibarium hits 4 million transactions on the network appeared first on Finbold.

The next SHIB? 5 meme coins set for massive growth in 2024

https://finbold.com/the-next-shib-5-meme-coins-set-for-massive-growth-in-2024/

Shiba Inu (SHIB), a prominent meme token in cryptocurrency, remains a focal point for investor interest. Bolstered by a vibrant and dedicated community, SHIB has embarked on a thrilling trajectory, with other meme coins beginning to stand out as its worthy competitors.

Within this framework, numerous cryptos have emerged as standout contenders, demonstrating the potential, driven by current market trends and technological advancements, to rival and potentially succeed SHIB.

Dogecoin (DOGE)

Operating as an open-source, peer-to-peer cryptocurrency utilizing blockchain technology, Dogecoin (DOGE) has garnered attention from traders. Recent trends highlight substantial growth in DOGE’s on-chain transactions, witnessing a surge of $665 million in transaction volume.

Furthermore, the noteworthy development of Dogecoin derivatives volume doubling in a single day on November 18, with speculators trading $5.04 billion worth of DOGE using derivatives, adds to the positive indicators of demand for this digital asset.

Meanwhile, DOGE is currently changing hands at the price of $0.08, down 5.82% on the day, diverging from the 1.83% increase across the previous week and the 26.21% gain over the past month, according to the most recent data retrieved on November 21.

Dogecoin 30-day price chart. Source: Finbold

Pepe (PEPE)

Pepe (PEPE) was originally designed to use a deflationary mechanism that burns a small percentage of tokens with each transaction. Pepe presents itself as a compelling investment opportunity.

At press time, PEPE was trading at the price of $0.00000112, recording a decrease of -6.9% in the last 24 hours, adding to a decrease of -6.6% over the past seven days. However, it had an impressive 60.9% rally in the previous month.

Pepe 30-day price chart.  Source: CoinGecko
Pepe 30-day price chart. Source: CoinGecko

FLOKI (FLOKI)

FLOKI (FLOKI) is more than just a meme coin; it has tangible applications. Significantly, the utility coin within the FLOKI ecosystem comprises decentralized finance and a non-fungible token (NFT) metaverse. Experiencing a significant surge in its value and market cap propelled this crypto into the top 100 digital assets for a period earlier this year.

As things stand, the price of FLOKI presently amounts to $0.000030, which represents a decrease of -5.2% on its daily chart, further decreasing -18.2% across the past week, and gaining as much as 14.8% on its monthly chart, according to the latest information.

FLOKI 30-day price chart.  Source: Finbold
FLOKI 30-day price chart. Source: Finbold

ApeCoin (APE)

ApeCoin (APE) serves as a utility and governance token designed to empower the community within the APE ecosystem, established in connection with the Bored Ape Yacht Club (BAYC).

According to a cryptocurrency analyst Sheldon The Sniper, ApeCoin is poised for a breakthrough after reaching value levels close to a resistance zone, as highlighted in his post on X on November 20.

ApeCoin nearing its resistance zone.  Source: Sheldon The Sniper
ApeCoin nearing its resistance zone. Source: Sheldon The Sniper

As things stand, APE is presently changing hands at the price of $1.49, recording an increase of 5.12% on the day, up 0.44% in a week, and substantial growth of 33.28% across the previous 30 days, as per the latest data.

ApeCoin 30-day price chart.  Source: Finbold
ApeCoin 30-day price chart. Source: Finbold

Bone ShibaSwap (BONE)

Bone ShibaSwap (BONE), a pivotal component of the Shiba Inu cryptocurrency ecosystem’s Layer 2 blockchain, Shibarium, has sparked significant interest in the crypto community. This surge in attention is evidenced by remarkable metrics: the total number of transactions on Shibarium has recently surpassed 4 million.

Additionally, BONE is now available to traders through StealthEX on their mobile phones via the same app, as per the announcement made on November 17.

In the meantime, BONE is changing hands at the price of $0.64, recording a decrease of -3.17% on the day, down -5.11% in a week, and down -10.21% across the previous 30 days, as per the latest data.

Bone ShibaSwap 30-day price chart.  Source: Finbold
Bone ShibaSwap 30-day price chart. Source: Finbold

Conclusion

If the crypto market experiences growth in 2024, driven by events like the Bitcoin halving and the potential introduction of a spot Bitcoin ETF in the United States, it could lead to a broader market expansion. 

This growth is expected to positively affect altcoins and prominent meme coins, as they often follow Bitcoin’s trend. Additionally, such market dynamics could attract increased interest from retail investors.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post The next SHIB? 5 meme coins set for massive growth in 2024 appeared first on Finbold.

Google Bard predicts Dogecoin price for start of 2024

https://finbold.com/google-bard-predicts-dogecoin-price-for-start-of-2024/

With the ongoing interest in artificial intelligence (AI), platforms like Google Bard are instrumental in analyzing trends and providing insights into the cryptocurrency sector, including assets like Dogecoin (DOGE). 

Leveraging the advanced capabilities of Google Bard, Finbold aims to gain valuable insights into DOGE’s future price movements, tapping into the power of artificial intelligence to make informed predictions.

The analysis will consider the prevailing market dynamics and trends, providing investors and enthusiasts with a data-driven perspective on what to expect from this crypto in the early months of 2024.

Bard’s estimates for DOGE

The AI tool indicates the projected price range for DOGE in early 2024, which falls between $0.09 and $0.15. This range encompasses the potential for ongoing growth driven by positive developments while acknowledging the likelihood of price fluctuations influenced by market conditions and various factors.

Dogecoin price prediction for start of 2024.   Source: Finbold and Google Bard
Dogecoin price prediction for the start of 2024. Source: Finbold and Google Bard

Nevertheless, readers must exercise caution, recognizing that this projected range is speculative. Given the inherently unpredictable nature of cryptocurrency prices, the actual price of Dogecoin at the beginning of 2024 may deviate, either surpassing or falling below this range. 

Thus, Bard emphasizes the need for prudence when considering any predictions in the volatile cryptocurrency market.

Factors to consider regarding Dogecoin

As the main factors at play, the chatbot singled out Elon Musk, “a prominent Dogecoin supporter, who considerably impacts the coin’s price. His tweets and statements can significantly influence investor sentiment and trading activity.”

Additionally, the AI platform highlighted the importance of DOGE’s community:

“Dogecoin’s active and supportive community plays a vital role in its price movements. The community’s enthusiasm and advocacy can attract new investors and users, boosting Dogecoin’s demand.”

Community support as a factor behind DOGE price prediction.  Source: Finbold and Google Bard
Community support as a factor behind DOGE price prediction. Source: Finbold and Google Bard

Furthermore, Bard stressed that growing overall market sentiment and adoption and utility could also lead to increased investment and demand, helping prop up the price of this crypto asset in the future. 

This increased demand was highlighted in recent news that DOGE’s on-chain transactions experienced notable growth, soaring by $665 million in transaction volume, its highest level in 3 months. 

Additionally, news of Dogecoin derivatives volume more than doubling in a day, with speculators trading $5.04 billion worth of DOGE using derivatives, is another positive aspect when it comes to demand for this digital asset.

DOGE price analysis

Dogecoin was at press time trading at the price of $0.08, recording an increase of 2.65% on the day, in addition to advancing 3.73% across the previous week and gaining a more significant 31.90% over the past month, according to the latest data on November 20.

DOGE 7-day price chart.  Source: Finbold
DOGE 7-day price chart. Source: Finbold

Robust indicators support the rise in value during the same timeframe, marked by 20 positive trading days in the last 30 days and simultaneous trading above the 200-day moving average.

Nevertheless, it’s important to highlight that, over a year, it has been surpassed in performance by 73% of the top 100 crypto assets and remains at a significant -89% decrease from its all-time high.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Google Bard predicts Dogecoin price for start of 2024 appeared first on Finbold.

Wall Street sees $100 billion crypto potential amid Bitcoin ETF hype

https://finbold.com/wall-street-sees-100-billion-crypto-potential-amid-bitcoin-etf-hype/

The impending approval of Bitcoin (BTC) exchange-traded funds (ETF) generates significant excitement in a potential breakthrough for cryptocurrency on Wall Street. This development is anticipated to open up digital currency investing to institutional and retail investors, marking a pivotal moment in the industry.

The anticipated approval by the US Securities and Exchange Commission (SEC) of ETFs designed to buy and sell BTC could usher in a new era for crypto investments. 

This regulatory shift, expected by mid-January or sooner, follows a decade of previous rejections of similar applications. The involvement of major financial players like BlackRock (NYSE: BLK), Fidelity, and Invesco (NYSE: IVZ) is contributing to projections that the spot-Bitcoin ETF market could grow into a $100 billion powerhouse, as per Bloomberg on November 20. 

The potential widespread adoption of this ETF is viewed as a game-changer, simplifying access for investors and allowing for direct supervision of crypto investments in clients’ portfolios.

Uncertainty remains

Despite the optimistic outlook, the aftermath of the FTX implosion continues to resonate across the investment landscape, tempering enthusiasm for all things crypto. While institutional interest is expected to surge with the introduction of ETFs, some market participants remain cautious due to lingering uncertainties and the industry’s tainted past.

While some advisors remain cautious, citing a decrease in digital asset interest among younger clients, proponents argue that ETFs will normalize the previously discredited asset class. The transparency and liquidity offered are expected to create compliance-friendly opportunities for institutional players, potentially transforming the market through increased lending and derivatives trades.

The possible approval of BTC ETFs holds the promise of attracting significant inflows into these products and reshaping the cryptocurrency market in unprecedented ways. However, the full extent of these changes may take time to unfold.

The post Wall Street sees $100 billion crypto potential amid Bitcoin ETF hype appeared first on Finbold.

What altcoins will explode in 2024?

https://finbold.com/what-altcoins-will-explode-in-2024/

Amidst the recent surge in the cryptocurrency market, the current moment presents an ideal opportunity to identify altcoins poised for substantial returns on investment in 2024. 

Finbold delved into the fundamental aspects, considering essential indicators that could predict increased value for specific digital assets. This analysis considered recent developments and overall market sentiment to propose potential altcoins that appear promising for investment.

Solana (SOL)

Solana (SOL) has been one of the strongest performers in the previous weeks, experiencing a significant surge in price, which has seen its value gain an impressive 115.36% in 30 days.

This value increase is credited with the positive sentiment regarding this digital asset, which has pushed its value over the $60 threshold for the first time since May 2022 and its largest positive sentiment spike from the SOL crowd since November 2022, as per a post on X from Santiment on November 19.

Solana positive sentiment chart. Source: Santiment

Indeed, amidst the ongoing rally, the cryptocurrency has ascended to the sixth position in market capitalization. Notably, it has resiliently resisted downward pressure from the continual offloading of FTX’s assets and from investors and traders seeking to capitalize on profits. This is a further argument for its resilience and future positive performance.

Solana 7-day price chart.  Source: Finbold
Solana 7-day price chart. Source: Finbold

Avalanche (AVAX)

Recognized for its impressive throughput and robust security features, Avalanche (AVAX), the platform for decentralized applications (dApps) and blockchains, is swiftly emerging as a significant player in the expanding decentralized finance (DeFi) sector. The continued growth of this sector could contribute to an increase in Avalanche’s price over the next year.

In the previous week, AVAX witnessed a notable price surge of 23.68% of its price. This upward movement coincided with the announcement from JPMorgan (NYSE: JPM), the investment banking giant, unveiling a collaborative initiative between its blockchain division Onyx and Apollo Global to introduce a proof-of-concept leveraging the Avalanche blockchain.

These advancements underscore the significance and commitment of this digital project, establishing partnerships with renowned giants in the financial industry. Such collaborations can potentially translate into lucrative returns for its cryptocurrency in the upcoming year.

Avalanche 7-day price chart.  Source: Finbold
Avalanche 7-day price chart. Source: Finbold

Polygon (MATIC)

Positioning itself as a practical remedy to address the high transaction fees on other blockchains, Polygon (MATIC) stands out as a Layer 2 scaling platform known for its rapid transaction processing. Its significance is poised to expand further as an increasing number of developers opt to build their projects on the platform, potentially leading to the eventual replacement of MATIC with the POL token.

On November 15, Polygon’s Proof of Stake (PoS) system processed 6.17 million transactions, marking the highest daily transaction volume since October 2021, as highlighted in a post by co-founder Sandeep Nailwal.

Polygon 7-day price chart.  Source Finbold
Polygon 7-day price chart. Source Finbold

This performance underscores the token’s positive sentiment and increased investor optimism, especially considering its recovery from negative year-to-date growth in September to a current year-to-date positive change of 6.02%, with possible future gains on the horizon.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post What altcoins will explode in 2024? appeared first on Finbold.

When is the best time to buy altcoins?

https://finbold.com/when-is-the-best-time-to-buy-altcoins/

With the frequent changes in the price of various cryptocurrencies, investors must understand that altcoins often undergo multiple days or weeks of correction while maintaining an overall uptrend. This may seem illogical, but it is a critical market cycle phase characterized by extended and steeper upward movements.

For observant traders, a consolidation during this phase is a strategic point for re-entry before the upward surge resumes. 

The rationale behind this approach becomes more apparent when we draw parallels to historical patterns, particularly those observed at the close of 2015 and the conclusion of 2019, as crypto specialist Michaël van de Poppe highlighted in his post on X on November 19.

An example of Ethereum

Poppe suggests a notable example is Ethereum’s (ETH) trajectory in 2015, surging from $1 to $14, eventually reaching an impressive $1,400 in 2017. 

While some may argue that such returns are a thing of the past, it is entirely plausible that current projects, initially yielding 5-10x returns at the onset of this bull cycle, are just getting started.

Ethereum’s price surge trajectory throughout time. Source: Michaël van de Poppe

In the early stages of these upward movements, corrections of multiple days often bring prices back to higher timeframe support zones. Rather than being causes for concern, these corrections represent suitable entry points. 

Reflecting on the 2020 DeFi summer, which could resurface in 2024, we witnessed similar correction phases during the bullish run.

Zooming in on the specific price actions, ETH experienced corrections ranging from 30-50% before reaching its peak. Such fluctuations are not strange but natural to market dynamics when viewed on shorter timeframes like 1-hour, 4-hour, or 15-minute charts.

ChainLink’s current correction phase

Effectively navigating through these fluctuations involves identifying and leveraging higher timeframe support entries. Comparing the price action of Ethereum with that of current projects like ChainLink (LINK) reveals that the latter may only exhibit a modest 20% correction or even less.

In such cases, a correction of 30% could further clarify the trend, presenting a compelling entry opportunity.

ChainLink’s current price correction.  Source: Michaël van de Poppe
ChainLink’s current price correction. Source: Michaël van de Poppe

This development is also highlighted by cryptocurrency analyst Ali Martinez, who claims that LINK may see a reset to a price of $14 before continuing its price rise to $20, as highlighted in his post on November 20.

Current example in Arbitrum

As per Coin98 Analytics, ARB is currently experiencing one of the highest daily counts on Layer2 when it comes to adding the new non-fungible tokens (NFT), which could aid it in breaking from its current price.

Arbitrum’s current correction phase.  Source: Michaël van de Poppe
Arbitrum’s current correction phase. Source: Michaël van de Poppe

As seen from the previous examples, investors should not be deterred by altcoins undergoing corrections in the 30-50% range; as per Poppe, now may be the time to seek entry points and look to capitalize on the unfolding opportunities.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post When is the best time to buy altcoins? appeared first on Finbold.

XRP whale transactions rise despite 18% price drop; Rebound imminent?

https://finbold.com/xrp-whale-transactions-rise-despite-8-price-drop-rebound-imminent/

With the XRP (XRP) price experiencing a negative trend in the previous days, most investors would be inclined to stay away from this investment, but not according to whale holders, who maintain their position.

Cryptocurrency analyst Ali Martinez notes even in the face of an 18% price dip for XRP over the past ten days, it’s intriguing to observe a noteworthy surge in whale transactions and their accumulated holdings. 

This activity surge among major crypto investors raises speculation that it could serve as a harbinger of a potential price rebound for XRP, as per his post on X on November 17.

“Despite XRP‘s 18% price drop over the past 10 days, there’s a notable uptick in whale transactions and their holdings. This growing interest from major players could be a precursor to an XRP price rebound,” Ali stressed.

XRP whale transaction activity chart. Source: ali_charts

The increased involvement of these influential entities suggests a growing confidence or strategic positioning that may influence the broader market sentiment and contribute to a positive shift in XRP’s valuation.

Recent developments regarding XRP

Recent news of fake BlackRock filing for an XRP exchange-traded fund (ETF) highlights traders’ eagerness to invest in this digital asset. After the news broke out, the price of XRP surged by 10% in a single day, driving its value toward the level of $0.69.

Another notable development in November is that Ripple has deviated from its observed pattern of selling unlocked XRPs in weekly batches, marking the first instance since August. The most recent sell-off of 60 million XRP ($39 million) occurred on November 6, and it has been 11 days since this transaction.

XRP price analysis

At the time of press, the XRP price stood at $0.60, which marks a negative change of -5.57% in the previous 24 hours, adding to the losses incurred over the past 7 days that amounted to -7.39%; however, monthly gains of 22.31% represent a stark contrast to the recent price movement.

XRP 24-hour price chart.  Source: Finbold
XRP 24-hour price chart. Source: Finbold

Aspects that spell out a positive outlook for this digital asset are most notably its trading above the 200-day moving average, and 18 green days in the previous 30. Combined with its better performance than 68% of the top 100 crypto assets in a year.

On the other hand, it is essential to note that this is still down -85% from its all-time high value. Considering both pros and cons, whether XRP’s price will rebound remains to be seen.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post XRP whale transactions rise despite 18% price drop; Rebound imminent? appeared first on Finbold.

3 cryptocurrencies under $1 to buy next week

https://finbold.com/3-cryptocurrencies-under-1-to-buy-next-week/

Several cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), have been systematically testing and pushing against new resistance levels amid the current market rally. 

This has created an opportunity for lesser-known altcoins to see increases in value during the same time frame.

Notably, alternative digital assets with robust fundamental qualities and promising technical indicators are garnering increased interest. The ongoing enhancements to their underlying blockchain architectures contribute to this optimistic sentiment within the investment community.

Using fundamental indicators and technical analysis, Finbold has curated a list of the most promising cryptocurrencies priced under $1, presenting potentially profitable opportunities next week.

Cardano (ADA)

Cardano (ADA) has experienced a notable 50.74% increase year-to-date, with the past month alone contributing to a positive change of 51.19%. This surge is attributed to the growing demand for its native token, which investors can stake in return for staking rewards.

Remarkably, Cardano holds the third-largest position in terms of Staking Market Cap among cryptocurrencies, according to data from StakingRewards.com. As of November 17, the Cardano network boasts a total staked value of $8.49 billion.

ADA is currently trading at $0.37, indicating a -6.28% change over the last 24 hours and a change of -2.03% in the past week. However, it has had a remarkable surge of 51.19% in the previous 30 days.

Cardano 1-month price chart. Source: Finbold

XRP

Among this week’s three selections, XRP (XRP) boasts the highest market capitalization and has delivered strong performances in the previous month.

The analyst CryptoinsightUK, suggests a potential rapid ascent if XRP breaks above the descending trendline, triggered by shorts covering and stop-loss triggers.

Despite an incorrect timeframe prediction, a bullish divergence and the need to eliminate leveraged shorts support the expectation of a swift surge to a target range of $0.89 to $1.35, as per his post on November 17.

Possible XRP price target range.  Source: CryptoinsightUK
Possible XRP price target range. Source: CryptoinsightUK

As of the latest update, XRP is trading at $0.62, reflecting a -4.28% change over the past 24 hours. However, it has demonstrated an impressive positive monthly change of 26.07%. 

XRP 1-month price chart.  Source: Finbold
XRP 1-month price chart. Source: Finbold

Polygon (MATIC) 

Polygon (MATIC) stands out as another robust performer, showcasing a notable surge in its price over the previous 30 days. Rising from $0.51 to $0.83 in this period.

On November 15, Polygon’s Proof of Stake (PoS) system processed 6.17 million transactions, marking the highest daily transaction volume since October 2021, as highlighted in a post by Today in Polygon on November 16.

Polygon PoS amount of transactions processed on November 15. Source: Today in Polygon
Polygon PoS amount of transactions processed on November 15. Source: Today in Polygon

This underscores the token’s positive sentiment and increased investor optimism, especially considering its recovery from negative year-to-date growth in September to a current year-to-date positive change of 6.02%.

At the time of this publication, Polygon’s price is $0.85, reflecting a -6.85% change over the 24-hour period. This contrasts its positive trend over the past 7 days, with a gain of 1.08% and an impressive 30-day increase of 63.32%.

Polygon 1-month price change.  Source: Finbold
Polygon 1-month price change. Source: Finbold

While the mentioned cryptocurrencies are currently experiencing losses at the time of publication, the dynamic nature of the digital asset realm suggests that unexpected breakthroughs remain a possibility. 

The current market atmosphere, buoyed by optimistic sentiment and the potential approval of a Bitcoin ETF in the U.S., suggests a favorable outlook for altcoins. This scenario could lead to another month of gains, potentially enhancing the already positive performance of these alternative cryptocurrencies.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post 3 cryptocurrencies under $1 to buy next week appeared first on Finbold.

Dogecoin on-chain transactions spike; Will DOGE hit $0.1?

https://finbold.com/dogecoin-on-chain-transactions-spike-will-doge-hit-0-1/

Numerous cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), have been methodically exploring and challenging new resistance levels during the ongoing market rally.

In contrast, Dogecoin (DOGE) has displayed a remarkable and nearly uninterrupted upward trajectory in previous days. In recent days, DOGE’s on-chain transactions experienced notable growth, soaring by $665 million in transaction volume, its highest level in 3 months. 

Additionally, there is also a notable amount of DOGE long-openings as investors bet on prices rising, as reported by blockchain and cryptocurrency behavior analysis platform Santiment in an X post on November 17.

Dogecoin experienced its highest trading volume in 3 months. Source: Santiment

The platform also highlights that DOGE shows breakout potential as its on-chain transactions spiked, fueled by an increased funding rate on Binance.

Will DOGE hit $0.1?

At the time of press, DOGE is trading at levels set at $0.09, which represents a 10.22% positive increase in the 24-hour period, which has followed a 17.40% increase over the 7-day period, coupled with impressive gains in the value of 47.11% in the previous 30-day span.

DOGE 24-hour price chart.  Source: Finbold
DOGE 24-hour price chart. Source: Finbold

This value increase comes from solid indicators in the same period, where it has had 20 green days in the previous 30 days and is trading above the 200-day moving average simultaneously.

However, it is essential to note that it is being outperformed by 59% of the top 100 crypto assets over a span of a year and is still down -88% from its all-time high.

Despite these, the current trend shows promising signals regarding reaching the $0.10 milestone, which would mean a return to value it hasn’t experienced in almost a year.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Dogecoin on-chain transactions spike; Will DOGE hit $0.1? appeared first on Finbold.