On The Brink Of Breakthrough? Analyst Foresees Cardano (ADA) Hitting New Annual Heights


Market analyst Ali Charts has recently shared insights on the Cardano (ADA) market trajectory. Observing recent trends, ADA appears to be in a bearish phase. In the last 24 hours, mainly, the asset has witnessed a 2.8% decline, resulting in its trading price falling to $0.37. However, despite the current dip, Ali offers an optimistic outlook, suggesting that Cardano may be gearing up for a significant price surge, possibly reaching its highest point for the year. Related Reading: History Repeats? Cardano (ADA) Set To Skyrocket In December, Predicts Analyst Analyst’s Positive Outlook On ADA: Understanding The Demand Zone In an X post uploaded earlier today, Ali shared his analysis on ADA, highlighting a crucial demand zone around the $0.37 and $0.38 marks. The analyst notes the substantial buying activity in this range, with over 166,470 wallets having purchased ADA at these levels. Ali states this robust demand indicates a strong support level at these price marks. With minimal resistance ahead, Ali’s analyst suggests that ADA could see an increase, potentially surpassing its yearly high of $0.4518. Notably, while the analyst points out that the current buying trend at the demand zone is a positive indicator of ADA’s strength, the analyst also cautions investors to remain vigilant. A failure to maintain support in this zone could result in ADA’s price dropping to lower levels, such as $0.34. #Cardano sits at a key demand zone between $0.37 and $0.38. Here, 166,470 wallets acquired 4.88 billion $ADA. With minimal resistance ahead and solid support below, remaining above this zone could pave the way for $ADA to climb to new yearly highs. Still, watch out, as losing… pic.twitter.com/GDjhspFSVr — Ali (@ali_charts) November 27, 2023 Cardano (ADA) Latest Price Action Recently, ADA has experienced a downturn, with its value decreasing nearly 5% over the past week. This downward trend has continued in the last 24 hours, with a 2.5% decline, bringing its trading price to roughly $0.378. This price point is significant as it aligns with the strong support level identified by analyst Ali. As highlighted above, according to Ali, a drop below this support level could potentially lead to a further decrease to around $0.34. Conversely, if ADA stabilizes or rebounds from this level, it may set the stage for a climb to new yearly highs. While ADA has faced a bearish phase recently, a broader perspective reveals a more positive outlook. Over the past month, ADA has demonstrated a 29% increase, and even considering the past two weeks, it maintains a 3.2% gain. Related Reading: Whale Alert: Big Players Scoop Up These 4 Altcoins, On-Chain Data Indicates Meanwhile, the asset’s daily trading volume has since been on a downward trend over the past weeks. In the past 24 hours, ADA’s daily trading volume has stood at $255 million, a significant plunge from over $600 million in the middle of this month. Featured image from Unsplash, Chart from TradingView

Market Watch: These 5 Altcoins Are Poised For Breakouts, Says Crypto Expert


A recent analysis by a Crypto Banter pinpointed new notable price levels for prominent altcoins such as  XRP, Solana (SOL), Chainlink (LINK), Fantom (FTM), and Polygon (MATIC). These insights provide a fresh perspective on potential entry points for bullish positions in the current market. Related Reading: Whale Alert: Big Players Scoop Up These 4 Altcoins, On-Chain Data Indicates Altcoins At Crossroads: Key Price Levels To Watch In this analysis, Crypto Banter singles out Solana (SOL) and notes that $48 is an “intriguing” level to watch for any pullback. Additionally, historical data consolidating around this price point on the SOL/USD weekly chart indicates it could be an “optimal” buying zone should prices drop to this mark. In the case of Chainlink (LINK), Crypto Banter identifies $13.3 down to $12.2 as a “hot zone.” A drop below this range might shift focus to the $9 level as a critical reversal point. Polygon (MATIC) also comes under scrutiny, with the analyst observing a break in the 200-day moving average on its weekly chart timeframe. According to the host, this development suggests a potential bounce back at the $0.68 zone, possibly preluding a rally. For clarity, “moving average,” or MA, is a widely used indicator in technical analysis that helps unravel price data by creating a constantly updated average price. This average is typically calculated over a specific period, like 10 days, 20 minutes, 30 weeks; in the case of the Crypto Banter analysis, they based their analysis on the 200-day MA. Fantom’s Surge And XRP’s Pivotal Turnaround On the other hand, Fantom (FTM), Crypto Banter, revealed that the altcoin has shown a significant pump of over 50% since late October. Yet, the analyst suggests a possible retraction towards the 200-day moving average, making the $0.25 region attractive, particularly for those employing a dollar-cost averaging (DCA) strategy. XRP is not left out of this analytical purview. The host points out that XRP is nearing a critical juncture from a technical standpoint. The analyst reveals that the 12-hour chart for XRP shows a recent rebound off the 50-day MA. A turnaround around the $0.54 price region could occur if the ongoing pattern along the downward trendline persists. The analyst further disclosed that this level gains importance due to the convergence of key moving averages that form a support zone around it. Related Reading: 3 Altcoins Set To Skyrocket In Next Crypto Bull Run, According To Analyst Interestingly, among the altcoins highlighted by Crypto Banter as primed for a breakout, SOL and FTM stand out with significant gains. Over the past two weeks, Solana has seen a 13.8% increase, while FTM has climbed by 8.3%. Contrastingly, XRP, LINK, and MATIC  have experienced declines during the same period. XRP’s price fell by 5.5%, LINK by 5.6%, and MATIC by 6.6%, signaling a diverse performance landscape among these notable altcoins. Featured image from iStock, Chart from TradingView

XRP On The Verge Of A Surge: Analyst Pinpoints Next Bullish Targets


Renowned market analyst Ali Charts recently shared his insights, predicting a bullish trajectory for XRP. Ali, known for his market predictions, anticipates that XRP is on the brink of a major breakout, potentially escalating to a significant price range shortly. Expert Analysis Of XRP’s Movement Ali Charts has recently turned the spotlight on XRP. In his latest analysis, Ali predicts a promising upturn for XRP, expecting it to break out from its “descending parallel channel.” This optimistic forecast points to a swift climb, targeting the $0.65-$0.66 range. The analysis is backed by a detailed chart Ali shared, elucidating the potential breakout pattern XRP is forming. Related Reading: From Cool-Off To Takeoff: How XRP’s Current Value Signals An Imminent Market Triumph This projection follows XRP’s peak performance on November 6, when it reached $0.72 per token – its highest valuation since late July. Over the following weeks, XRP saw a slow downturn that brought its price to trade as low as $0.58 on Wednesday. However, the recent chart formations, as analyzed by Ali, suggest a potential reversal in this trend. #Ripple | $XRP appears to be breaking out from a descending parallel channel, which may result in an upswing to $0.65 – $0.66 for #XRP. pic.twitter.com/gvfeEMKIDX — Ali (@ali_charts) November 23, 2023 XRP Latest Price Action Meanwhile, XRP has shown signs of a potential reversal from its recent ‘descending parallel channel,’ as indicated by analyst Ali. In the past 24 hours, the token has experienced a 2.9% uptick, climbing from its low of $0.58 seen yesterday to a current trading price of $0.61 at the time of writing. This shift hints at a developing bullish momentum, aligning with Ali’s prediction of an imminent surge beyond the $0.65 mark. Notably, should the token’s price continue this upward trajectory, it could significantly bolster Ali’s analysis, possibly setting the stage for the digital asset to revisit and potentially surpass the $0.72 price level. Such a development would confirm the accuracy of Ali’s forecasts and inject renewed investor confidence in XRP. However, it’s important to contextualize these recent gains against the broader picture. Over the last two weeks, the altcoin has recorded a decline of over 10%, with a 2.7% decrease in the past seven days. This overall bearish trend is mirrored in the trading volume, which has notably reduced. Related Reading: Evernode Announces Airdrop For XRP Holders, Sets Launch Date Specifically, XRP’s daily trading volume has fallen from a high of approximately $2.4 billion seen earlier this month to around $1.1 billion in the last 24 hours. This dip in trading activity could indicate a cautious approach from investors, awaiting clearer signals of market direction before committing further, or maybe a regular trading activity in the asset. Featured image from Unsplash, Chart from TradingView

Grayscale Revamps Bitcoin ETF Filing: A Strategic Push for SEC Approval


Grayscale’s latest move in the Bitcoin ETF (exchange-traded fund) space is drawing significant attention. Following a series of discussions with the U.S. Securities and Exchange Commission (SEC), Grayscale has submitted a revised version of its spot Bitcoin ETF filing. 

This revision, while minimal in changes, marks another step in the firm’s ongoing pursuit to launch a Bitcoin ETF, a financial product that would allow investors to gain exposure to Bitcoin through a regulated, stock-exchange-listed instrument.

The Bloomberg researcher James Seyffart recently shared a series of updates on X regarding Grayscale’s amended filing. One of the notable updates is the proposed change of GBTC’s ticker symbol to BTC, a move aligning with Grayscale’s long-term vision. 

This revision is seen as a strategic step towards making the product more recognizable and accessible to a broader audience of investors.

Minimal Changes, Maximal Implications

Upon close examination, the revised filing doesn’t seem to deviate significantly from its predecessor. The changes, though minimal, include some condensation and removal of certain sections. Notably, Grayscale has streamlined the section on cash orders and entirely eliminated the pages pertaining to risk disclosures. 

This decision to avoid redundancy in risk factors, which are already detailed in other regulatory filings like 10-ks, 8-ks, and 10-Qs, reflects a thoughtful approach to regulatory compliance and investor communication.

Seyffart’s observation that the revision does not carry substantial changes from the previous version suggests that Grayscale’s fundamental strategy and stance regarding the ETF remain intact. The firm’s consistency in its approach, despite the ongoing regulatory challenges, highlights its commitment to bringing a Bitcoin ETF to the market.

A Step Towards Regulatory Compliance and Clarity

The involvement of the SEC’s Trading and Markets Division in recent discussions with Grayscale and other firms awaiting ETF approvals is a positive development in the crypto regulatory landscape. 

These discussions are indicative of the SEC’s increasing engagement with the evolving crypto sector and its willingness to work towards feasible regulatory frameworks.

Grayscale’s meeting with the SEC, which involved top executives like CEO Michael Sonnenshein and Legal Chief Officer Craig Salm, reflects the company’s proactive stance in seeking regulatory clarity and approval. 

The firm’s efforts to align its operations with the SEC’s expectations and standards demonstrate a commitment to regulatory compliance and investor protection. The price of Bitcoin (BTC) at the moment of writing is $37326.

Whale Alert: Big Players Scoop Up These 4 Altcoins, On-Chain Data Indicates


The transactions of ‘whales’ – large-scale investors – often set the tone for market trends. So far, recent on-chain data from Lookonchain, a renowned on-chain analytics platform, has unveiled a notable accumulation pattern in four specific altcoins. Maker (MKR), ssv.network (SSV), Coin98 (C98), and RSS3 have emerged as the latest targets of these accumulative efforts. The data shows a series of substantial withdrawals of altcoins from Binance, a leading crypto exchange, hinting at a growing interest in these altcoins among heavyweight investors. Notably, this trend of whale accumulation is not just a fleeting occurrence but a concerted effort that has been unfolding over recent months. Related Reading: Crypto Whales’ Big Bet: An Examination Of Their 3 New Altcoin Targets Diving Deep Into Whale Transactions: A Closer Look at the Accumulated Altcoins The analysis by Lookonchain reveals intriguing details about the accumulated assets. A new wallet, identified as “0xB4aE”, mainly made waves by withdrawing 10 million RSS3 tokens, valued at approximately $1.44 million, from the OKX exchange. This transaction underscores the growing interest in RSS3, a lesser-known crypto asset. In parallel, another prominent wallet, dubbed “0xb6a7”, substantially withdrew 114,227 SSV tokens from Binance, amounting to a value of about $1.93 million. 1/ We noticed that whale/fresh wallets are accumulating $MKR, $SSV, $C98 and $RSS3.👇 pic.twitter.com/AOIlNTVyux — Lookonchain (@lookonchain) November 22, 2023 This same investor also transferred 2.77 million C98 tokens from Binance, signaling a bullish stance on these specific altcoins. It is worth noting that these transactions exemplify the strategic moves by whales, often aimed at leveraging market dynamics to their advantage. The Maker (MKR) Movement: Whale “0x9e74 Leads the Charge One of the most significant players in this scenario is the whale wallet “0x9e74”. Since July 2023, this investor has consistently withdrawn Maker (MKR) tokens from Binance, totaling roughly 4,776 MKR. The most recent transaction involved moving $1.7 million worth of MKR from the exchange, bringing the total worth of MKR withdrawn by this investor to about $6.9 million. This consistent and targeted accumulation of MKR suggests a strong confidence in the future of this particular altcoin. The Maker token, part of the MakerDAO ecosystem, has been a subject of interest, mainly due to its role in decentralized finance (DeFi) as a lender. These large-scale movements by whales underscore a broader trend within the crypto world, where informed players are increasingly steering towards altcoins with strong fundamentals and potential for substantial growth. Related Reading: Pumping Altcoins All Have One Thing In Common: Crypto Whale Games Amid the accumulation of the altcoins above by whales, RSS3 and Maker are still the top gainers, with both altcoins seeing a surge in price by 34.8% and 10.7%, respectively, over the past two weeks. The remaining two altcoins, however, have seen slight gains and decline, with SSV seeing a mere 4.8% increase and C98 seeing an 8.6% plunge over the same period. Featured image from iStock Chart from TradingView

Tether Treasury Boosts Circulation with $1 Billion USDT Minting


In a notable move, Tether Treasury has recently minted an additional $1 billion in USDT, as reported by the on-chain data tracker Loononchain. This substantial increase in USDT supply comes amidst a flurry of activity within the crypto market. Notably, this minting is linked to the actions of a prominent whale investor who has been actively purchasing USDT.

The recent transaction data sheds light on the whale’s activities, revealing a significant influx of USDT into various crypto exchanges. Over the past 32 days, this investor has received roughly 1.13 billion USDT directly from Tether Treasury, subsequently depositing these funds into multiple exchange platforms. 

Whale Movements and Exchange Deposits

A closer examination of this whale’s transactions reveals a consistent pattern of acquiring and moving USDT. Just prior to the latest billion-dollar minting, the whale had received 75 million USDT from Tether Treasury. 

These funds were then distributed to major crypto exchanges like Kraken and Coinbase. Since October 20th, the total amount of USDT received by this investor from Tether Treasury has exceeded 1 billion, marking a significant flow of Tether’s stablecoin into the trading ecosystem.

This pattern of large-scale acquisition and transfer of USDT by a single entity highlights the growing influence of major players in the crypto market. It also reflects the dynamic nature of crypto assets, where large transactions can quickly shift the landscape of supply and demand.

Implications for the Crypto Market

Tether Treasury’s decision to mint an additional $1 billion in USDT is a significant event in the crypto market. Tether, as a stablecoin, is pegged to the US dollar and often serves as a safe haven or a liquidity provider in the volatile cryptocurrency market. 

This recent action could indicate a response to increasing demand for USDT, possibly driven by market volatility or a surge in trading activities.

The involvement of a whale investor in this scenario adds an intriguing layer to the market dynamics. The concentrated movement of such a large amount of USDT could have ripple effects across various trading platforms and possibly influence market liquidity and stability.

From Cool-Off To Takeoff: How XRP’s Current Value Signals An Imminent Market Triumph


Ben Armstrong, a well-known crypto analyst and YouTuber has recently offered an intriguing perspective on XRP’s current trading value.

XRP, a token closely watched in the crypto community, particularly after its legal battle with the US Securities and Exchange Commission (SEC), currently trades at around $0.60. While this figure might not represent an all-time high, Armstrong highlights why this price point might be pivotal for XRP.

The Bigger Picture: Institutional Interest And Market Dynamics

Armstrong’s analysis begins with the “adamantium” support level of $0.60 for XRP. Drawing an analogy with the fictional character Wolverine, who famously recovers from severe damage, Armstrong sees XRP’s resilience at this price as a sign of robustness.

Each time XRP’s value dips, it seemingly rebounds from this critical support level, suggesting a strong market faith in the token.

Armstrong goes beyond price analysis to consider broader market dynamics in his video. He notes that XRP’s previously traded price level of $0.62 has become particularly attractive to institutional and corporate investors.

Whale transactions involving substantial quantities of XRP have increased significantly, indicating heightened interest from large-scale investors. This trend aligns with a broader global crypto market cap increase, suggesting ample liquidity for significant investments.

Armstrong also touches upon the strategic aspect of XRP’s price following Ripple’s legal victory over the SEC. He posits that a post-verdict price surge might have limited the token’s accessibility to a broader audience.

However, the current steadier price range, a retrace of the previously seen $0.72, allows for a more extensive accumulation of XRP, potentially setting the stage for a bigger bull run.

XRP Latest Price Action

XRP’s market performance has recently shown a notable decline, with its price falling by over 10% in the past two weeks. At the time of writing, XRP is trading at approximately $0.605, reflecting a 2.3% decrease in the past 24 hours.

XRP price chart on TradingView.com

Despite a significant bullish trend earlier this year, where it surged by 70.3% year to date, XRP remains substantially lower, down by 82.20%, from its all-time high of $3.40 in 2018.

This downward trend extends beyond just XRP’s price. The past two weeks have also decreased the asset’s daily trading volume, descending from highs of around $2.5 billion early last week to roughly $1.1 billion in the past 24 hours.

This decline in trading volume may signal a decrease in investor interest or market activity surrounding the asset, contributing to its reduced price.

Moreover, the broader crypto market has seen a mix of volatility and bearish trends, which might influence XRP’s performance. So far, Bitcoin has also declined by 2% in the past 24 hours, resulting in the drawdown of the global crypto market cap of 1.3% over the same period.

Featured image from Unsplash, Chart from TradingView

Stakin Joins Forces with ClayStack to Revolutionize Liquid Staking in DeFi


In a significant move for the decentralized finance (DeFi) space, Stakin has proudly announced its partnership with ClayStack, a leading innovator in the liquid staking arena. This collaboration brings together two major entities in the blockchain world, promising to bring about groundbreaking changes in the Ethereum (ETH) staking process. 

This partnership is not just a meeting of minds but also of visions, as both entities are committed to driving forward the decentralization ethos that underpins blockchain technology.

As part of this collaboration, Stakin has taken on the role of a node operator for ClayStack, leveraging the advanced Distributed Validator Technology (DVT) developed by ssv network. 

This technology is at the forefront of enhancing the resilience and security of the ETH staking process, a critical aspect of maintaining the stability and reliability of the Ethereum network. Stakin’s involvement represents a key stride towards a fully decentralized staking ecosystem, an objective that lies at the heart of both companies’ missions.

Enhancing Decentralization and Security

The partnership between Stakin and ClayStack is more than just a technological alliance; it’s a step towards strengthening the backbone of decentralization in the crypto world. By implementing ssv network’s DVT-based infrastructure, Stakin is poised to elevate the ETH staking process to new heights of efficiency and security. 

This initiative is crucial in ensuring the robustness of the Ethereum blockchain, particularly as it transitions to Ethereum 2.0 with a proof-of-stake consensus mechanism.

The integration of Stakin’s expertise in node operation with ClayStack pioneering approach to liquid staking is a game-changer. This collaboration is set to provide users with an enhanced staking experience that is not only secure and resilient but also highly accessible. 

The joint efforts of Stakin and ClayStack represent a leap forward in making liquid staking a mainstream practice within the DeFi space, thereby empowering users with more flexibility and control over their staked assets.

Driving Accessibility in Liquid Staking

Stakin’s partnership with ClayStack goes beyond technological innovation; it’s a commitment to making liquid staking more accessible to the wider blockchain community. This initiative is a significant step towards simplifying the staking process, making it more user-friendly, and ultimately bringing more participants into the DeFi ecosystem. 

The joint venture is focused on providing a seamless and streamlined liquid staking experience that aligns perfectly with the decentralized ethos of the blockchain world.

This collaboration is not just about enhancing the current staking processes; it’s about laying the groundwork for the future of DeFi. As the blockchain landscape continues to evolve, partnerships like this will play a pivotal role in shaping the direction of the industry. 

With Stakin’s operational expertise and ClayStack_HQ’s innovative approach, the duo is well-positioned to lead the charge in making liquid staking a key pillar of the DeFi ecosystem.

3 Altcoins Set To Skyrocket In Next Crypto Bull Run, According To Analyst


Several altcoins have garnered attention for their potential in the next bull run. Nick, a prominent crypto analyst and host of the Cheeky Crypto YouTube channel, has pinpointed three specific altcoins that he believes are poised for significant growth in the forthcoming market surge.

Based on current market trends and developments, Nick’s analysis highlights these altcoins for their unique features and potential growth trajectories. These predictions offer insights into which could be the next big movers in the crypto world.

Three Altcoins Poised For Potential Surge

Solana (SOL) is one of the three altcoins that caught Nick’s eye for its chart structures and potential scalability. Regardless of initial hesitations, the analyst acknowledges Solana’s robust technical setup, which he believes could propel its price to “phenomenally high numbers” in the next bull run.

Nick predicts Solana could hit a target as high as $7,500, although he also offers a more conservative estimate of $2,000, considering potential future developments that might impact its growth.

Solana (SOL) price chart on TradingView

While Solana currently trades at a price nearing $60, a more practical short-term target, according to Nick, could be $600 to $700.

The analyst advised investors to be cautious about the potential market impact when large amounts of SOL become available for sale after a lock-up period and to consider this in their investment strategy. Nick noted:

Obviously, there are a lot of [Solana] tokens that are locked up for Solana so we basically start seeing a lot of those tokens being distributed and the lockup periods are expiring in 2025 March so this means we really want to make sure that we are out of our positions before those billionaires have the ability to dump on us.

Chainlink (LINK) is also another altcoin found on Nick’s radar. The analyst appreciates Chainlink’s importance in the blockchain industry and anticipates its increasing exposure and adoption could lead to a substantial capital influx.

Nick’s theoretical projection sees Chainlink reaching up to $2,300, while a more grounded expectation places it between $200 and $400 during the next crypto bull run.

Featured image from Unsplash, Chart from TradingView

XRP’s Triple-Digit Forecast: Top Advocate Casts Doubts On Dream Valuation


Bill Morgan, an XRP advocate, has recently expressed skepticism regarding the lofty price targets for XRP circulating on social media. While the digital asset community is often rife with bullish predictions, Morgan’s realistic outlook presents a grounded perspective on the potential of XRP’s value.

The Parabolic Price Move: A Myth Or Reality?

Since the significant ruling in the SEC v. Ripple case on July 23, which brought legal clarity to XRP, the asset has seen an uptick in its trajectory.

The ruling led to multiple exchanges relisting XRP and forming strategic partnerships. Despite these developments, Morgan observed that the price of XRP has only modestly increased from $0.46 to $0.62.

Morgan’s analysis delves deeper into the relationship between XRP’s market behavior and Bitcoin (BTC). Contrary to the popular belief that XRP might soon undergo a parabolic price increase, Morgan noted:

We keep being shown charts supporting claims that a parabolic breakout is imminent but price still seems to just go up and down with Bitcoin and generally loses ground on the XRP/BTC pair.

This observation particularly challenges the narrative of a forthcoming surge in XRP’s value, often depicted in the community’s discourse.

The idea of XRP achieving a three-figure value seems even more improbable to Morgan. He questions the likelihood of such a significant increase in XRP’s price in the short, medium, or long term.

While the crypto market is known for its unpredictability and rapid changes, Morgan’s post suggests expecting a meteoric rise in XRP’s price might be overly optimistic. His stance encourages a more measured and realistic approach to understanding XRP’s future market performance.

XRP Latest Price Action

Meanwhile, XRP’s market performance has seen significant fluctuations recently. After an initial surge alongside the broader bullish crypto market trend, the asset has faced a downturn, with a 10% decrease over the past week.

XRP price chart on TradingView

In the last 24 hours alone, XRP’s price has dipped by 4%, currently trading around $0.60, down from its weekly high of $0.69.

This decline is also reflected in its trading volume, which has dropped from $3.5 billion to approximately $1.43 billion, indicating a notable decrease in trading activity.

Featured image from Unsplash, Chart from TradingView

History Repeats? Cardano (ADA) Set To Skyrocket In December, Predicts Analyst


A recent surge in Cardano (ADA)’s market value has caught the attention of both investors and analysts alike. Over the past 24 hours, ADA has seen a 7% increase, trading at approximately $0.39 at the time of writing.

This uptick in value is not just a momentary blip on the radar but a part of a broader trend that mirrors the 2018-2020 consolidation phase of ADA, according to a well-known crypto trader and analyst, Ali.

Interestingly, the analyst noted this current consolidation phase comes without the dramatic influence of an event like the Covid-19 crash.

Cardano (ADA) To Skyrocket In December

Ali has expressed insights on X (formerly known as Twitter), drawing parallels between ADA’s current market behavior and its historical trajectory. If these patterns hold, Ali suggests that ADA might soon break through the $0.45 resistance level, potentially as early as the first week of December.

Currently, ADA is trading at around $0.39. Despite a recent uptick in its weekly performance, the asset has experienced a minor pullback from its 24-hour high of $0.40. Although this peak approaches the resistance level highlighted by analyst Ali, ADA appears poised for a potential rally.

This is indicated by a significant increase in its daily trading volume, which has risen by over $200 million in the past day, suggesting heightened trading activity for the crypto.

Furthermore, as the year approaches, Ali’s prediction for ADA’s price to reach as high as $0.75 during the festive season seems to gain credibility with the recent surge.

If ADA continues on this trajectory, it could signify a notable milestone in its journey and potentially reshape investor perspectives on Cardano’s role in the competitive crypto landscape.

Media Spotlight And Ethereum’s Alleged Imitation

It is worth noting that the recent spotlight on ADA can be partly attributed to the statements made by Steven Nerayoff, a prominent figure in the crypto sphere known for his critical views on Ethereum. Nerayoff’s declaration of ADA as his “top pick in crypto” has fueled media discussions and increased interest in Cardano.

His recent public criticism of Ethereum, accusing the platform of imitating Cardano’s innovations, has added a layer of intrigue to the ongoing narrative. This controversy particularly concerns Ethereum revisiting its Plasma scaling solution, first introduced in 2017.

Members of the Cardano community have not hesitated to point out the similarities between Ethereum’s Plasma and Cardano’s Hydra, a Layer-2 scaling solution. They argue that Plasma’s recent developments closely resemble Hydra’s functionalities.

Whether substantiated or not, such claims contribute to the broader conversation about innovation and originality in the blockchain space.

Cardano (ADA) price chart on TradingView

Featured image from Unsplash, Chart from TradingView

Game Changer: LILLIUS Teams Up with Chiliz to Elevate Sports with Blockchain Tech


In an exciting development for the sports-exercise blockchain domain, LILLIUS, a leader in AI sports challenge platforms, has joined forces with Chiliz, a renowned name in the world of SportFi. 

This collaboration is set to elevate the user experience in sports apps and non-fungible tokens (NFTs) by leveraging the potential of Chiliz’s Layer-1 blockchain technology. This partnership marks a significant milestone in blending sports with the innovative world of blockchain, promising a new era of interactive and rewarding sports engagement.

The groundbreaking initiative by LILLIUS involves the integration of its state-of-the-art sports applications with the Chiliz blockchain. This integration aims to create unique applications that seamlessly marry the excitement of sports with the advancements in blockchain technology. 

LILLIUS has already made waves with the recent launch of its AI sports challenge app, which brings users closer to sports content created by prominent athletes like Olympic gold medalists Lee Yongdae, Jung Jihyun, and Joo Hyeonjung.

Empowering Sports Enthusiasts with Blockchain-Enabled Fitness Challenges

LILLIUS’s AI-powered app represents a significant leap in sports technology. It employs AI motion recognition to analyze users’ movements during various sports challenges, offering real-time feedback and scoring. 

This interactive approach not only enhances the fitness experience but also allows users to earn digital rewards like LILLIUS tokens (LLT), adding a rewarding aspect to their fitness journey. The app effectively gamifies exercise routines, making fitness more engaging and accessible to a broader audience.

Moreover, LILLIUS’s foray into the NFT space with its exclusive “Sports Figure NFTs” has added another dimension to this innovative venture. These NFTs are not just digital collectibles; they serve as keys to unlock special features and benefits within the LILLIUS app. 

This integration of NFTs enriches the user experience, fostering a deeper connection between sports enthusiasts and the digital world of blockchain and cryptocurrencies.

Creating a Web 3.0 Sports Experience Through Strategic Collaboration

The partnership between LILLIUS and Chiliz is more than just a technological alliance; it’s a blend of expertise and vision. LILLIUS brings to the table its unique sports content and AI analytics, while Chiliz contributes its robust sports blockchain infrastructure and extensive network in the global sports industry. 

This synergy is set to revolutionize the traditional sports sector, ushering it into the era of Web 3.0 with a gamified, community-centric approach.

LILLIUS CEO, Kim Joo-yeon, and Chiliz CEO, Alex Dreyfus, have expressed their shared vision of transforming the sports industry. They emphasize the transition from a Web 2.0 to a Web 3.0 sports environment, promising a new level of engagement and interaction for sports fans. 

This venture is particularly significant for the South Korean market, known for its passionate sports fandom and technological prowess.

Bitcoin Defies Global Market Trends: Negative Correlation Hits Pre-Pandemic Levels


So far, Bitcoin has demonstrated a unique trajectory over the past weeks, distinct from broader financial movements. While global markets have been riding buoyancy, with investors embracing a more risk-on attitude following softer US inflation data, Bitcoin has charted its own path.

Bloomberg reported since the release of the US data on Tuesday, an index of global shares surged by 2% on speculation that the Federal Reserve might halt interest rate hikes and lean towards reductions in 2024. In this context, Bitcoin has seen a decline in the short term but overall gains on the longer time horizon.

This unusual behavior has resulted in a significant shift in the correlation between Bitcoin and traditional stock markets. The report read:

A 30-day correlation coefficient for Bitcoin and MSCI Inc.’s gauge of world stocks now sits at minus 0.23, the most negative since the onset of the pandemic in early 2020.

This data corresponds with the expectation that falling bond yields and rallying equities, combined with a potential Federal Reserve policy reversal, would also benefit crypto like Bitcoin, often seen as harbingers of high-risk investment appetites.

Bitcoin’s Cautious Trajectory Amid ETF Anticipation

Furthermore, the dynamics of Bitcoin’s market behavior have so far proved to be notably influenced by anticipations surrounding US spot exchange-traded funds (ETFs) investing directly in BTC. Bitcoin had already surged over 100% in 2023, fueled by optimism over regulatory approvals for these spot ETFs.

In the past week, the asset has seen quite a retracement, dropping from trading above $37,000 last week to a current trading price of $36,434, at the time of writing.

Bitcoin (BTC) price chart on TradingView

Tony Sycamore, a market analyst at IG Australia Pty, notes that the recent selloff in Bitcoin could be attributed to ‘weak hands folding,’ given the absence of sustained upward momentum over the past week.

This sentiment reflects a cautious approach among investors, weighing the prospects of Bitcoin in the context of its recent performance and the broader expectations of developments such as the approval of a BTC spot ETF in the crypto space.

Further Sentiments On Bitcoin

Alongside Sycamore’s insights on Bitcoin’s price movements, other experts and analysts have shared their perspectives on this leading cryptocurrency. Financial commentator Tedtalksmacro pointed to a notable increase in open interest, hinting at possible significant market shifts or ‘fireworks’ ahead.

Another analyst, CryptoCon, predicts a surge in Bitcoin’s price. CryptoCon analysis suggests Bitcoin is entering its fourth mid-cycle phase, a crucial period for forecasting the crypto’s future direction. According to the analyst, this phase could lead BTC to a ‘mid-top’ cycle peak, potentially reaching around $45,500.

Conversely, JPMorgan analysts have expressed skepticism about the recent rally in the crypto market, suggesting it might be more speculative than substantive. Their report adopts a cautious tone, hinting that the market’s enthusiasm might not be fully grounded in strong fundamentals.

The analysts further highlighted the possibility of a ‘buy the rumor, sell the fact’ situation following the approval of a spot Bitcoin ETF, indicating a potential downturn after the initial hype.

Featured image from Unsplash, Chart from TradingView

Uniswap’s Financial Win: New Fee Model Rakes In Over $1 Million In A Month Amid DeFi Frenzy


Uniswap Labs, the company behind the decentralized finance (DeFi) protocol, has achieved a milestone in its revenue generation strategy. Just a month after its implementation, the firm’s newly introduced front-end fees have crossed roughly $1 million, a testament to the platform’s robust activity and user base.

This achievement comes shortly after the mid-October decision to introduce a 0.15% fee on some certain tokens transacted on its front-end interface. This new fee structure applies to various assets, including popular ones like ETH, USDC, WETH, USDT, DAI, WBTC, and others.

Analyzing Uniswap Financial Trajectory

As shown in data from Token Terminal, over the past few weeks following the fee’s launch, Uniswap has amassed about $1.14 million.

This figure translates to an average daily revenue of approximately $44,000. Projected annually, this rate could bring in roughly or more than $16 million in revenue for Uniswap Labs.

Meanwhile, Blockchain reporter Colin Wu estimated daily fees from Uniswap V3’s new structure could range between $388,000 and $444,000. Although the figures have been more modest, they still represent a substantial income stream.

Wu’s analysis also reveals that about 35% to 40% of Uniswap’s total transaction volume is processed through the front end, indicating a significant portion of the platform’s activity is subject to these new fees.

Regardless, the total cumulative amount recorded in the past weeks, nearly a month, marks a significant financial upturn for the company and highlights the potential profitability of increased fee structures in the DeFi space.

Notably, unlike the long-established 0.3% fee, dispensed among liquidity providers as an incentive, the new front-end fees solely directed towards Uniswap Labs is not just a revenue-generating move, as it also signified a strategic shift towards diversifying income sources.

So far, this step allows Uniswap Labs to have a direct and consistent revenue stream, independent of the protocol fees traditionally distributed among liquidity providers.

DeFi Market Flourishes: Capital Inflows and Token Value Surge

It is worth noting that the recent boost in Uniswap’s cumulative front-end fees aligns with an emerging DeFi resurgence, marked by a significant rise in capital inflows.

Data from DeFiLlama reveals a notable nearly $10 billion increase in the DeFi market’s total value locked (TVL) over the past month. This upward trajectory has seen the TVL escalate from $36.62 billion in October to roughly $46.65 billion.

Moreover, this bullish trend extends to DeFi tokens, with leading DeFi assets experiencing substantial growth. Top tokens such as Chainlink (LINK), Avalanche (AVAX), and Uniswap (UNI) have recorded increases of 19.39%, 35%, and 8.56% respectively in the last week, reflecting the overall positive momentum in the crypto market.

Uniswap (UNI) price chart on TradingView

Featured image from Unsplash, Chart from TradingView

CME Overtakes Binance In Bitcoin Futures: A New Era For Institutional Crypto Investments?


The Chicago Mercantile Exchange (CME) has recently clinched the title of the largest Bitcoin futures exchange by open interest, overtaking the renowned crypto exchange, Binance.

Data from Coinglass reveals that CME’s open positions have reached roughly $4.04 billion across 108,900 Bitcoin contracts, accounting for 24.22% of the entire Bitcoin futures market.

Open interest in the context of futures trading refers to the total number of outstanding derivative contracts, such as futures, that have not yet been settled. This metric is crucial as it indicates the market’s liquidity level and trading activity.

For BTC futures, it represents the total value of all positions yet to be closed, offering insights into market sentiment and investor behavior. The rise of CME to the top position signifies a notable shift in the market dynamics, indicating a growing preference among institutional investors for regulated derivatives products.

Institutional Appetite For BTC And Implications For SEC Spot ETF Approvals

Binance, once the leader in BTC futures open interest, now trails CME with $3.90 billion in open interest, comprising 23.37% of the total market. This change underscores a significant trend: institutional investors increasingly favor Bitcoin as an investment vehicle, as evidenced by entities like MicroStrategy.

This enterprise software company, known for its substantial Bitcoin holdings, recently acquired an additional 155 BTC for $5.3 million. With Bitcoin’s current trading price above $37,000, MicroStrategy’s investment boasts roughly $1.1 billion in paper profits, underscoring the asset’s appeal to corporate investors.

The overtaking of Binance by CME in Bitcoin futures open interest has captured market participants’ attention and raised crucial questions among regulatory observers.

Notably, Bloomberg Intelligence ETF research analyst James Seyffart, echoing sentiments from Will Clemente, has speculated on whether CME’s growing Bitcoin futures open interest might address the US Securities and Exchange Commission’s (SEC) concerns about market depth and potential manipulation in Bitcoin markets.

This shift in market leadership from a crypto exchange like Binance to a traditional and regulated derivatives marketplace like CME could signal a maturing BTC market. Such a development might influence the SEC’s stance on approving spot Bitcoin ETFs.

Bitcoin Latest Price Action

While CME is overthrowing Binance regarding Bitcoin’s open interest, the crypto asset has recently reclaimed its $37,000 zone in the past hours after retracing slightly below that price mark following the quick spike on Thursday.

Bitcoin (BTC) price chart on TradingView

Notably, BTC currently trades for $37,350 at the time of writing, up by 2.1% in the past 24 hours and nearly 10% over the past 7 days.

Featured image from Unsplash, Chart from TradingView

Crypto’s Current Climb: JPMorgan Suggests Rally May Be Reaching Its Peak


JPMorgan analysts have cast a skeptical eye over the recent crypto rally, indicating it may be built on sand rather than solid ground. Their latest report conveys a guarded stance, suggesting that the market’s exuberance may be outpacing the underlying fundamentals.

As the market’s enthusiasm swells, fueled by pivotal developments such as the US Securities and Exchange Commission’s (SEC) potential green light of the spot Bitcoin exchange-traded fund (ETF), these financial experts are urging caution, advocating a closer examination of the elements at play.

A Closer Look At ETF Approval And Regulatory Battles

Within the crypto sphere, JPMorgan analysts disclosed that two significant events have captured investor interest and driven prices upward.

These events include anticipating a US-approved spot Bitcoin ETF, which has ignited hopes of new capital inflows. At the same time, recent legal tussles involving the SEC have raised expectations for a more permissive regulatory environment.

However, the JPMorgan team, led by analyst Nikolaos Panigirtzoglou, presents a contrarian view, deconstructing these drivers and their probable impact on the market. They argue that an ETF approval would usher in fresh capital, which might be misleading.

The analysts propose that rather than attracting new investment; the approval could redirect existing funds from current Bitcoin investment products into the new ETFs. The JPMorgan team noted:

First, instead of fresh capital entering the crypto industry to be invested in the newly-approved ETFs, we see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot bitcoin ETFs.

This shift, they assert, would not necessarily expand the market’s capital base. JPMorgan’s team points to the tepid response to similar products in Canada and Europe as evidence, suggesting that a US spot Bitcoin ETF might encounter the same lukewarm reception.

Legal victories against the SEC in high-profile cases like Ripple and Grayscale are also interpreted as potential precursors to a regulatory softening. Yet, the analysts remain unconvinced, citing the lingering aftereffects of the FTX scandal and the inherent risks of an under-regulated market.

They further disclosed that these factors will likely keep the regulatory tightening trend intact, with little room for significant easing.

Bitcoin Halving: A Pre-Priced Crypto Event?

The report delves into the much-discussed Bitcoin halving, which traditionally stokes bullish forecasts. However, JPMorgan’s analysts believe the market has already factored in the halving’s supply-squeeze implications. They noted:

This argument seems unconvincing as the Bitcoin halving event and its effect are predictable and in our opinion are well factored into Bitcoin price.

They calculate that based on current data, the production cost of Bitcoin post-halving should double, particularly from the current $ $21,000 to $43,000.

Their analysis concludes with a sobering outlook, anticipating a potential “buy the rumor, sell the fact” scenario post-ETF approval. Such a dynamic could see prices climb on anticipation and plummet once the event materializes, a pattern familiar to seasoned market observers.

Echoing similar sentiments, financial commentator Peter Schiff has cast doubt on the longevity of Bitcoin’s price surges driven by ETF speculations.

Schiff warns that post-approval, Bitcoin might face a shortage of positive triggers, potentially culminating in a market sell-off as the ‘buy the rumor, sell the news’ phenomenon unfolds.

Meanwhile, Bitcoin has seen quite a significant move in the past few hours. The asset has now marked a new high for 2023, surging above $37,000, up by nearly 10% in the past day.

BTC’s price chart on TradingView amid JPMorgan team crypto analysis

Featured image from Unsplash, Chart from TardingView

Bitkub Chain Unveils Roadmap to Spearhead Thailand’s Blockchain Ecosystem


In a bold move to cement its status as a leader in Thailand’s burgeoning blockchain sector, Bitkub Chain has unveiled a comprehensive set of updates and goals. 

At the heart of this initiative is a vision to establish Bitkub Chain as the foundational pillar for the national blockchain ecosystem in Thailand, as shared at the 3rd Bitkub Chain Developer Meet-Up (BKCDM).

The BKCDM, a gathering that unites blockchain developers and project leaders, has become a pivotal forum for the exchange of innovative ideas and developments within the blockchain community. 

This year’s event was particularly momentous, revealing an impressive collection of achievements by Bitkub Blockchain Technology Company Limited, the mastermind behind Thailand’s prominent blockchain network.

A Year Of Milestones And a Glimpse into the Future

The BKCDM, a gathering that unites blockchain developers and project leaders, has become a pivotal forum for the exchange of innovative ideas and developments within the blockchain community. 

This year’s event was particularly momentous, revealing an impressive collection of achievements by Bitkub Blockchain Technology Company Limited, the mastermind behind Thailand’s prominent blockchain network.

2023 has been a remarkable year for Bitkub Chain, with significant strides made in both platform development and community engagement. The transition from Proof-Of-Stake-Authority to Proof-Of-Stake has notably increased network participation, with over 14.2 million KUB tokens staked and transactions skyrocketing by 60% in a mere two months.

Bitkub’s commitment to global accessibility was further demonstrated by the integration of KUB coin across seven major digital asset trading platforms, opening up the ecosystem to a worldwide audience. 

But it’s the forward-looking ecosystem development plan set for 2024 that truly underscores Bitkub’s aspiration to become “The Leading Foundation of the National Blockchain Ecosystem in Thailand.”

Innovation and Expansion: Bitkub Chain’s Strategic Vision

At the forefront of the BKCDM’s revelations were details of the forthcoming Bitkub NEXT 2.0 upgrade, a user experience overhaul set to launch in November. This isn’t just a facelift; it’s a consolidation of functions and decentralized applications (dApps) that promises to make navigating the ecosystem more intuitive than ever. 

With features like support for NFT-1155 and the introduction of NEXT Credit, Bitkub is poised to break new ground in the digital wallet space.

The event also shed light on Bitkub NFT 2.0 and the Bitkub Metaverse Mobile Version, with both platforms slated for major updates that aim to enrich user engagement and open up new dimensions of the digital experience. 

Additionally, Bitkub Chain’s expansion plans are set to catapult KUB coin into the global spotlight with upcoming listings on various digital asset trading centers.

In a bid to foster innovation and attract top-tier developers to the ecosystem, Bitkub introduced the BKC Developer Pitch initiative. This program incentivizes developers with potential digital coin rewards, providing a robust support system for projects that enhance the Bitkub Chain landscape.

Bitcoin’s Grip Strengthens: Record High In Long-Term Holdings Signals Bullish Horizon


Amid fluctuating markets and economic uncertainty, Bitcoin long-term investors hold their coins tighter than ever. Data from blockchain analysis firm Glassnode reveals a notable trend: a significant portion of Bitcoin’s circulating supply is firmly in the hands of long-term holders, with figures reaching record heights.

Notably, the trend of Bitcoin being tightly held is not a new phenomenon, but the level of accumulation we’re witnessing today appears unprecedented. Glassnode’s research points out that the community of long-term Bitcoin holders is not just growing but doing so at an “impressive rate of accumulation.”

This cohort’s commitment is evidenced by the historical highs in key supply metrics—illiquid supply, coins held (HODLed), and long-term holder supply—are all at their peak, according to shared Glassnode insights.

A Dive into Bitcoin’s Illiquid Supply 

Glassnode’s briefing depicted the Bitcoin market’s current state. The data illustrates that 68% of Bitcoin’s circulating supply has not moved for more than a year, indicating a decision by investors to hold through volatility and market dips.

The metric for coins held for over five years is even more telling, constituting nearly a third of all Bitcoin in circulation. In terms of Bitcoin’s illiquid supply—coins held in wallets with little to no spending history—the figures are also at an all-time high, with over 15.4 million BTC firmly held.

This illiquidity is not a static condition as it is growing monthly at 71,000 Bitcoin, according to Glassnode’s analysis.

Amount of Bitcoin that is not readily available for trading or transactions

According to a Glassnode analyst, this accumulation has coincided with a notable pattern of investors pulling their Bitcoin from exchanges into private custody, further solidifying the trend of long-term holding. The analyst disclosed:

The data suggests investors are continuing to withdraw their coins into custody, with over 1.7 million bitcoin doing so since May 2021.

Bitcoin: Divergence In Holders And Latest Price Action

Glassnode’s report also highlights a significant divergence between the behaviors of long-term and short-term Bitcoin holders. While long-term supply is seeing historic highs, short-term holder supply is at record lows, indicating a change in spending habits after the currency’s surge above the pivotal $30,000 benchmark. 

Divergence between Bitcoin's long-term and short-term holders.

Glassnode’s analysis suggests this price point is a crucial battleground for bullish sentiment, marking a potential inflection point in the market’s trajectory.

Meanwhile, over the past week, Bitcoin has continued its bullishness, recording a gain of 2.9%. The asset currently trades for $35,216 at the time of writing, up by 1.5% in the past 24 hours.

Bitcoin (BTC) price chart on TradingView

Featured image from iStock, chart from TradingView

Bitcoin On The Brink? Analyst Predicts Soaring Open Interest May Signal 20% Price Correction


Bitcoin’s open interest—the total number of outstanding derivative contracts that have not been settled—has surged to levels not seen in over six months. Amid these high-interest levels, market analysts warn that Bitcoin may see a 20% price correction.

Analysts Weigh In On Market Implications

The surge in open interest has been linked to a substantial increase in derivatives market activity. Financial commentator Tedtalksmacro hinted at the potential market shifts, noting a significant addition to open interest, which could indicate impending “fireworks” in the market.

With more than $16 billion in open interest recorded currently, according to data from CoinGlass, the market is witnessing noticeable fluctuations that could spell out more significant changes in Bitcoin’s valuation.

So far, analysts are keenly observing these fluctuations, interpreting them as signals for future market movements. James Van Straten from CryptoSlate pointed out the record open interest in the CME exchange, often “preferred by institutional investors.” The analyst noted:

The CME exchange, preferred by institutional investors, has achieved a new record in open interest, with 105,380 BTC contracts open, valued at $3.68 billion. Binance has edged past this figure with open interest of approximately 113,500 BTC.

With Binance’s open interest slightly surpassing the CME’s figures, Van Straten suggests that this trend could indicate a growing interest in Bitcoin futures, which may reflect a “positive shift” in market sentiment or a strategic move by investors to adopt “protective strategies.”

The implications of this rising open interest, however, are not universally seen as positive. J. A. Maartunn from CryptoQuant cautioned that such high open interest levels have historically preceded price drawdowns of at least 20% for Bitcoin.

This pattern, he argues, warrants “significant attention” as it could indicate an upcoming price correction. 

Bitcoin Latest Price Action

The current trajectory of Bitcoin’s market performance has been discussed among analysts, particularly in light of the recent surge in open interest. Despite this interest, Bitcoin has experienced a slight pullback from its recent growth spurt.

At the time of writing, the cryptocurrency has seen a 1% decrease over the last day, now valued at $34,722. Meanwhile, over the last week, Bitcoin’s growth has been modest, charting a 1.4% increase, while the bi-weekly figures show a slightly 3.1% rise.

Bitcoin (BTC) price chart on TradingView

This corrective movement in Bitcoin’s price is mirrored by a notable drop in its daily trading volume, which has fallen sharply from last week’s high of $21 billion to a current figure of just $3.8 billion within the past day. This reduction in volume may be indicative of a cooling off in trading activity.

Featured image from Unsplash, Chart from TradingView

Crypto Forecast: Analyst Predicts ‘Santa Claus Squeeze’ May Deliver Year-End Gains


Markus Thielen, the Head of Crypto Research and Strategy at Matrixport, has hinted at a potential pre-Christmas rally with Bitcoin leading the charge.

This anticipation comes amid a backdrop of macroeconomic shifts that could set the stage for a significant surge in crypto prices, which Thielen describes as the “Santa Claus squeeze.”

Thielen’s analysis is rooted in recent market movements where some altcoins began to outperform Bitcoin, suggesting a momentum build-up that could translate into substantial gains.

Macroeconomic Indicators Fueling Crypto Optimism

This concept of a “Santa Claus squeeze” in the crypto market, a term coined to describe the seasonal rally often seen in equity markets, is not new. Thielen, in his Deribit Insights report, noted that Bitcoin has historically seen an average rally of 23% during the festive months of November and December.

This trend, coupled with last week’s performance where alternative cryptocurrencies gained an edge over Bitcoin, lends credibility to the forecast of a year-end rally, according to the Head of Crypto Research and Strategy at Matrixport.

Notably, the potential for a “Santa Claus squeeze” is underpinned by several macroeconomic indicators that Thielen has identified. Thielen points to a trio of events that collectively signal an interest rate peak, setting a conducive stage for risk assets like cryptocurrencies.

The US Treasury’s pivot towards “slowing the pace of issuing longer-dated debt” is the first sign Thielen identified,  implying expectations for a decline in interest rates, which historically benefit growth assets such as tech stocks and, by extension, digital currencies.

Adding to the mix is Federal Reserve Chair Jerome Powell’s “dovish” tone at the post-FOMC meeting press conference. His statements have been interpreted as a potential halt in rate hikes, with the possibility of cuts in 2024, bringing a dose of positiveness into the markets.

For context, during the conference, Fed Chair Jerome Powell discussed the balanced nature of inflation risks, referencing the term “symmetric” twice, which suggested a tone of accomplishment in the Federal Reserve’s efforts to reduce inflation. Additionally, Powell expressed his view that a recession is not on the horizon.

Furthermore, a less-than-stellar US nonfarm payroll reported last Friday suggests a “weakening labor market,” according to Thielen, reducing the chances of aggressive rate hikes in the future.

Bitcoin And Ethereum: A Potential Rally In Sight?

Drawing parallels with the past, Thielen recalled Bitcoin’s response at the end of the last Fed rate hike cycle in January 2019, which saw the cryptocurrency’s price rally by approximately 400%.

While Thielen tempers expectations for a repeat of such dramatic gains, the Head of Crypto Research and Strategy at Matrixport anticipates that Bitcoin and some other altcoins the analyst calls “higher beta crypto assets” could see considerable growth in the coming years.

The Head of Crypto Research and Strategy at Matrixport backed this bullish outlook further by the potential approval of a BlackRock spot Bitcoin ETF, which could act as a catalyst for a more widespread crypto rally.

Thielen’s observations extend beyond Bitcoin in another report. He notes the Ethereum ecosystem’s nascent signs of recovery, evidenced by increasing revenues and ETH’s resilience in holding the crucial support level of $1,550.

The analyst also noted the outshining of Ethereum and other altcoins over Bitcoin, a shift reflected in their growing market dominance and trading volumes. The perpetual futures funding rate for both Bitcoin and Ethereum is also on the rise, mirroring a more confident stance among traders.

So far, Bitcoin is only up 1.3% in the past week and 0.3% in the past day, while Ethereum has recorded a higher gain of 5% in the past 7 days and 1% over the past 24 hours. BTC currently trades at $34,987 and ETH  at $1,897 at the time of writing.

Bitcoin (BTC) price chart on TradingView amid crypto market news

Featured image from Unsplash, Chart from TradingView

Cardano’s Whale Watch: ADA Market Cap Jumps Over 10% Amid On-Chain Frenzy


Cardano (ADA) has recently experienced a notable surge in market capitalization. Blockchain analytics firm Santiment reported a 9% increase in ADA’s market cap over the past day, which adds to a more than 20% rise over the last two weeks.

This growth spurt in valuation aligns with heightened activity on the Cardano network, specifically among large-scale holders, commonly referred to as ‘whales.’

Cardano On-Chain Data Signals Bullish Behavior For ADA

Before this latest rise in value, several on-chain metrics hinted at the potential for a short-term increase in ADA’s price. Santiment’s analysis pointed out that two key indicators—address activity and whale transactions—had spiked to levels not seen in three months.

This kind of on-chain behavior often precedes market movements, drawing the attention of investors and analysts alike.

Digging deeper into the Cardano blockchain data, there’s been a 23% rise in address activity over the past three weeks, according to Santiment, suggesting a growing use case or increased speculation about the altcoin’s future.

Concurrently, whale transactions, which are large transfers of ADA often indicative of deep-pocketed investors’ movements, have shot up by more than 32%. Such significant transactions can substantially impact market sentiment, potentially leading to price volatility or, in this case, a bullish trend for ADA.

ADA Latest Price Action: Market Surges Over 10%

Meanwhile, in a development that aligns with market expectations, ADA’s price has sustained a bullish trend over recent weeks. Correspondingly, the altcoin’s market capitalization has reflected this positive momentum, swelling by approximately 11.4% in the past week and by nearly 30% in the past two weeks.

Significantly, ADA’s market cap has surpassed the $11 billion mark, climbing from the earlier monthly low of around $9 billion. This uptick in market cap value has seen ADA achieve a trading price of $0.32 at the current time, marking an increase of close to 5% in just the last 24 hours.

Cardano (ADA) price chart on TradingView

Further bolstering the optimistic market sentiment, ADA’s daily trading volumes have experienced a substantial increase. Where just last Friday, the trading volume hovered around $214 million, there has been a remarkable swell, with the figure soaring to nearly $500 million in the past day.

This enhanced trading activity, coupled with the market cap growth, signals a robust investor interest in ADA, potentially indicative of broader market confidence in the altcoin’s prospects. 

Featured image from Unsplash, Chart from TradingView

Altcoins At Turning Point? Analyst Says ‘Time To Load On The Dips, It’s A Different Sentiment’


The crypto market is bullish, with several altcoins charting notable gains. Solana (SOL) leads this charge, which has seen a roughly 35% increase in value over the past week.

This uptrend is not isolated to Solana alone; other major altcoins like XRP and Cardano (ADA) also enjoy significant upticks. This trend signals a potentially broader market recovery and offers a positive outlook for investors who have weathered a prolonged bear market.

Buying On The Dip: A Strategy For Growth 

Michaël van de Poppe, a renowned analyst in the crypto analysis sphere, has recently spoken out about the shift in market dynamics. In his view, altcoins are not just rising; they are breaking out, signaling a more profound change in the crypto ecosystem.

This breakout could be the indicator of an even more substantial growth phase for these digital assets, according to the analyst.

Amid this resurgence, Michaël van de Poppe has offered strategic advice to the crypto investment community. The analyst believes that the current prices of altcoins represent a dip in the market, presenting a prime opportunity for buying. With a clear shift in sentiment, the analyst encourages investors to capitalize on these lower entry points.

The analyst also draws an alignment between the current market conditions and the end of the bear market cycle 2018, suggesting that we may be on the cusp of a similar reversal.

With the US monetary policy tightening phase seemingly coming to an end, there’s an air of optimism that the bearish grip on the market may be loosening, according to the analyst.

Van de Poppe’s analysis also posits that the market is transitioning, setting the stage for the conclusion of the bear cycle and the beginning of sustained growth.

Altcoins: SOL And XRP Record Double Digit Gains Except For ADA

Meanwhile, before Van de Poppe’s analysis, Solana and XRP had recorded double-digit gains, with Solana taking the lead, recording a massive gain of 35% in the past 7 days. XRP saw a 10.5% gain over the same period.

Both assets currently trade at $41.51 and $0.60, respectively, at the time of writing, with SOL recording a mere increase of 0.2% over the past 24 hours and XRP gaining 1.4% in the same period.

While ADA has only seen a slightly lesser gain of just 5.8% in the past 7 days, the altcoin records the highest gain among these three top altcoins in the past day. ADA trades at $0.30, up by 6.5%, over the past 24 hours.

Altcoins total market cap value on TradingView

Featured image from Unsplash, Chart from TradingView

November To Witness Over $450M In Token Unlocks: Aptos And Avalanche Take The Lead


The crypto market is set to experience significant token unlocks in November, with projects such as Aptos (APT), Avalanche (AVAX), and Hashflow (HFT) leading the way.

These unlocks are anticipated to release more than $320 million worth of tokens, contributing to the overall $450 million set to enter circulating supplies in the crypto market this month.

It is worth noting that such substantial releases could have immediate and long-term effects on both the price and availability of these digital assets.

Aptos And Top Players In November’s Token Release

Token unlocks are events where previously locked tokens become available for trading, often increasing a project’s circulating supply. These events are critical moments for projects, as they can signal maturation and a new phase of market dynamics. 

Aptos, a Layer 1 blockchain created by former Meta executives, is expected to have the most significant token unlock by value, releasing 24.8 million APT tokens, currently representing about $165.6 million at today’s price.

Aptos’s upcoming unlock on November 12 is not just substantial in value but also notable for its distribution, with core contributors, investors, the community, and the Aptos Foundation all set to receive portions of the release.

Meanwhile, Avalanche, another Layer 1 blockchain, is preparing for its considerable token unlock later in the month on November 24, which will see 9.54 million AVAX tokens (valued at approximately $99.3 million at today’s price) released, marking 2.7% of its circulating supply.

Hashflow, a multi-chain decentralized exchange, is slated to have the largest token release by circulating supply percentage. It is poised to unlock 160.38 million HFT tokens, approximately 73.9% of its circulating supply, on November 7, injecting roughly $42 million into the market.

The distribution of these tokens will span early investors, ecosystem development, the core team, and community rewards, adding another layer to the economic activities of the project.

Other Notable November Token Unlocks

Other projects like Optimism (OP), ApeCoin (APE), and Sui (SUI) are also scheduled for significant token unlocks this November. However, they pale in comparison to the top three in terms of value. Optimism is set to unlock 24.16 million OP tokens worth $32.4 million.

Apecoin (APE) is poised for an unlock of 15.60 million APE tokens worth $19.5 million, and SUI is to unlock 34.62 million tokens valued at $14.6 million at today’s market prices.

Each unlock carries potential implications for the broader crypto market, as they may affect liquidity, trading volume, and investor sentiment. Furthermore, out of these six tokens above set to unlock this month, Aptos and Avalanche are the top gainers.

Aptos (APT) price chart from TradingView

Currently, both assets are up 38% and 22%, respectively, in the past 14 days. APT trades at $6.82, down by 2% over the past 24 hours, while AVAX trades at $11.02, down by 2.7% over the same period, at the time of writing.

Featured image from Unspkash, Chart from TradingView

Bitcoin’s Price Tide: Could ASIC Miner Values Signal An Approaching Crypto Surge?


Adam Back, the co-founder and CEO of Blockstream, has recently drawn attention to a notable correlation, which is that the prices of ASIC (Application-Specific Integrated Circuit) miners tend to align with Bitcoin prices.

This parallel trend has been confirmed historically, with the miners peaking in price during the 2021 Bitcoin bull run, just as BTC reached its peak of $69,000.

Back’s analysis shows that even as the market navigates through changing tides, the fate of mining equipment is an important piece of the puzzle for understanding the overall ecosystem.

The CEO of Blockstream also suggests that the price of ASIC miners is not just a reflection of manufacturing costs or technological advancements but also an indicator of market sentiment toward Bitcoin itself.

The Miners’ Market: A Reflection Of Bitcoin’s Value

According to Back in a video posted on X (formerly known as Twitter), during the prelude to the 2021 bull market, the price of ASIC miners was low, mirroring the anticipation and optimism of the Bitcoin community for a significant rally.

However, as Bitcoin’s value skyrocketed, so did the price for these mining machines, hitting a peak of $120/Terrahash (TH) alongside Bitcoin’s all-time high. Yet, with the subsequent decline in BTC value, the demand and price for ASIC miners plummeted, currently trading hands at under $15/TH—a stark contrast to their previous highs.

Despite a positive momentum for Bitcoin this year, ASIC miner prices have remained subdued. However, Back maintains an optimistic outlook for a potential resurgence in ASIC miner prices.

The CEO of Blockstream suggests that as Bitcoin enters deeper into a bull phase, the value of these essential mining components is likely to increase.

Back points to the upcoming Bitcoin Halving — an event that historically impacts Bitcoin’s price due to the reduced rate at which new Bitcoins are generated — as a possible catalyst for Bitcoin’s price surge and a parallel rise in ASIC miner values.

Bitcoin Path To Reclaim $35,000

Despite several predictions and analyses about Bitcoin, the top crypto has continued to move at its own pace. After retracing from the previously tapped $35,000, the asset has begun to thrive to reclaim that price zone.

Bitcoin (BTC) price chart on TradingView

Currently, the asset trades at $34,269, down by 1.1% in the past 24 hours. However, looking at its weekly performance, Bitcoin still appears to be in gains. Though it has dropped by 0.7% in the past 7 days, it is still up by 20% in the past two weeks.

Back mentioned that the Bitcoin Halving appears as a significant milestone that could precede a notable increase in Bitcoin’s price, typically starting around six months post-halving.

While the CEO of Blockstream hesitates to make a definitive prediction about the exact outcome this time, he remains optimistic about Bitcoin’s prospects, positing that the cryptocurrency could still grow further this year or next year.

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UAE Embraces Bitcoin Boom: New KuCoin Survey Reveals Surging Crypto Economy


The United Arab Emirates (UAE) is fast becoming a beacon for crypto adoption, with the latest KuCoin survey report shedding light on the region’s burgeoning role as a crypto hub. Titled “Into The Cryptoverse: Understanding Crypto Users in the UAE,” the 17th edition of the report series, delves into the intricacies of the UAE crypto market. 

Based on meticulous feedback from crypto investors within the country, the report addresses their core concerns and highlights the pivotal role of trust, security, and education in the crypto sphere.

Alicia Kao, Managing Director of KuCoin, underscores the value of these findings, pointing out that the survey not only maps out the preferences and expectations of the UAE’s crypto community but also affirms the nation’s leadership in embracing digital currencies. 

The report reveals a predominant inclination towards Bitcoin, with a striking 72% of investors favoring the top cryptocurrency. This preference is indicative of a broader enthusiasm for blockchain technology and artificial intelligence within the region’s financial ecosystem.

Trust and Education: Pillars of UAE’s Crypto Ambition

The survey conducted by KuCoin reveals crucial insights into the attitudes and concerns of UAE’s crypto users. A significant 48% of respondents expressed reservations regarding the trustworthiness of crypto platforms. 

In parallel, 32% identified a lack of education and awareness around crypto as a key challenge in the region. These findings highlight the critical need for credible platforms and informed participation in the digital asset space.

When it comes to selecting a crypto exchange, the safety of their investments is paramount for UAE investors, with 63% citing security as their top priority. 

Close behind, 47% of users emphasized the importance of customer support, further underscoring the need for trustworthy and responsive crypto trading environments.

Beyond Investment: UAE’s Crypto Aspirations

In the UAE, Bitcoin is not just a speculative asset but a favored choice, with roughly 72% of investors expressing a preference for it. This overwhelming endorsement consolidates the UAE’s position as a frontrunner in regional crypto adoption, setting an example for other economies in the Middle East.

Furthermore, the KuCoin survey unveils a burgeoning interest among UAE investors in leveraging cryptocurrency for everyday financial transactions and cross-border remittances. About 40% of participants voiced their preference for using digital currencies in day-to-day financial dealings, suggesting a future where crypto could significantly alter the landscape of monetary exchanges in the UAE.

The enthusiasm for innovation doesn’t stop there. The survey further illustrates that 62% of respondents are keen on the synergy between AI and blockchain technology, signaling the UAE’s progressive stance towards integrating cutting-edge technologies in the crypto domain.

Ethereum’s Price Teetering: Analyst Forecasts Surge Past $2,000 On One Condition


Ethereum (ETH), the second-largest crypto by market capitalization, has been in the spotlight due to its price action. A notable crypto analyst, Pentoshi, shed light on the asset’s price trajectory, suggesting a possible uptick in value if current conditions prevail.

It is worth noting that this analyst’s predictions come at a time when Ethereum trails behind Bitcoin’s recent price rally. Notably, while Bitcoin has recorded a 12.5% increase over the past week, Ethereum’s gains are modest, rising by 8.4% during the same timeframe.

Ethereum Price Bracket Significance

According to the analyst’s post, Ethereum’s immediate future could see an upward trend if it manages to close the week within a specific price range. The suggested target zone, between $1,796 and $2,148, is critical, as highlighted by Pentoshi.

Should ETH’s closing price fall within this bracket, the analyst posits a potential path cleared for Ethereum to reach or even surpass the $2,200 mark. While Ethereum lags Bitcoin’s recent performance, the analyst remains optimistic about its prospects.

Ethereum/Bitcoin price chart on TradingView

Pentoshi indicates that Ethereum is approaching a “demand zone,” on the BTC/ETH ratio. Notably, this could stimulate buying activity and influence its price positively.

Bitcoin’s Bullish Standpoint Maintained

Pentoshi is bullish on Bitcoin, the pioneer cryptocurrency, provided it remains above a particular threshold. The $31,500 and $32,500 area is highlighted as Bitcoin’s support zone. The analyst maintains that staying above this range could sustain the positive outlook on Bitcoin.

However, a dip below these levels would suggest re-evaluating this bullish analysis. Regardless, Bitcoin does not currently appear to be moving towards any support but instead seems to be pushing above any resistance. 

In just four days, the asset has climbed from a trading price of $34,000 last Thursday to a present trading value of $34,760 at the time of writing. It’s worth noting that BTC has embarked on a significant uptrend, ascending more than 20% in the last two weeks.

Ethereum has also experienced a rally but hasn’t matched Bitcoin’s momentum. Over the past 14 days, ETH has seen a 14.8% increase and is currently trading at $1,820, marking a 1.4% rise in the last 24 hours alone.

Ethereum (ETH) price chart on TradingView

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The Hidden Signals: Bitcoin’s On-Chain Data Points To Bullish Outlook, But There’s A Catch


Santiment, a leading blockchain intelligence platform, has recently provided insights pointing to a favorable short-term scenario for Bitcoin (BTC). However, according to other signals that seem ‘hidden,’ there’s a catch.

These on-chain metrics can serve as the north star for investors looking to strategize their next steps. However, according to another metric, though recent revelations by Santiment might hint at continued positive momentum for Bitcoin, there’s also a possible contrary move that could play out.

Bitcoin Sentiments Bullish On-Chain Indications

Santiment’s recent post revealed a positive narrative for BTC’s immediate future. One of the key metrics supporting this bullish outlook is the significant number of active Bitcoin addresses.

It is worth noting that an increase in active addresses can indicate enhanced adoption, investor interest, and overall network health. Furthermore, a surge in previously dormant tokens moving actively hints at a renewed trader interest.

According to Santiment, such activity has often coincided with bullish trends, making this an essential metric to monitor.

Given these disclosed metrics by Santiment, Bitcoin may still have more rallies to squeeze out. However, to add another layer of intrigue to the current market scenario is the behavior surrounding meme coins, especially PEPE.

According to Onchain Capital co-founder and Crypto Banter host, Ran Neuner, meme coins, with their viral nature and swift price movements, sometimes act as a barometer for market sentiment, albeit unconventional.

PEPE’s Performance: A Market Temperature Check?

While Santiment’s report offers optimism, some market observers utilize unique indicators to sense potential market shifts. PEPE, a meme coin, has recently caught the attention of several prominent crypto figures.

Ran Neuner recently mentioned that PEPE might act as an indicator of an overheated market. The logic? When traders and investors flock to such tokens, and they see significant price pumps, it might be a sign of excessive optimism in the market. An event to walk with caution.

Notably, PEPE has surged by more than 80% in the past week. The meme coin has soared from a low of $0.00000650 seen last Friday, to as high as $0.00000118 at the time of writing. Following the recent increase in price, PEPE is currently down 1.1% in the past 24 hours.

Furthermore, in what seems to complement Neuner’s proposed indicator, Bitcoin has seen quite a notable retrace from its recent spike above $35,000. The asset currently trades at $33,620, at the time of writing down by 1.1% in the past hour.

Bitcoin (BTC) price chart on TradingView

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Bitcoin’s Stellar Surge: What’s Next? Expert Deciphers The Crypto Labyrinth


Gareth Soloway, an analyst and Chief Market Strategist at InTheMoneyStocks.com and President of VerifiedInvesting.com, has recently dived deep into the dynamics and offers a glimpse into Bitcoin and its future.

Bitcoin’s rally, which boasts a 30% uptick in the past fortnight, has reignited the bullish sentiments within the crypto community. This performance has been linked to the anticipation surrounding the potential approval of a spot Bitcoin Exchange-traded fund (ETF). What happens once this approval is granted?

The Power Of Speculation And Potential Spot Bitcoin ETF Impact

Gareth Soloway believes the approval, which might see daylight by the end of this year or early 2024, could trigger a price correction. “If Bitcoin is still up here, you may not go higher,” Soloway posits.

Soloway argues that the crypto space might already be factoring in the spot Bitcoin ETF approval. This implies that the news, once official, might paradoxically catalyze a sell-off, dampening the current momentum.

Soloway’s projection sees the “maximum upside” of Bitcoin in this bull phase reaching around $47,000 – potentially the next resistance level.

The expert hints that many institutional ETF players might have pre-emptively accumulated Bitcoin, anticipating an eventual spot ETF approval. This could mean fewer buyers once the spot Bitcoin ETF comes to life. Soloway elucidated:

Many of these ETF institutions have probably been accumulating for the last couple of months, knowing that eventually an approval will come. And so, there may not be as many buyers for the spot ETF.

A Glimpse Into 2024: Economic Predictions And Crypto

While Bitcoin’s immediate future is in the limelight, Soloway takes a broader macroeconomic stance for the coming year. The analyst paints a cautious picture, predicting an impending economic recession in 2024. This, coupled with a stock market correction of around 35%, might significantly impact Bitcoin. 

Bitcoin (BTC) price chart on TradingView

Soloway noted predicting a possible plunge to $15,000:

What happens if the stock market goes down 35%? Fear and panic will take over, even in Bitcoin holders. Remember, there are a lot of people who hold Bitcoin that also have big stock portfolios. And if I’m down huge at some point, do I start to panic and start selling everything? That’s the worry that could drive us back to $15,000 or even lower.

Backing his bleak economic prediction, Soloway further highlights soaring credit card debts, skyrocketing interest rates, and the “risky” state of several banking institutions.

The expert stressed the lurking dangers within the banking sector, many of which he called “zombie banks,” operating with unsustainable “dead paper on their balance sheet.”

Despite the grim financial outlook, Soloway shared his bullish sentiment on gold, anticipating new all-time highs. The analyst underscores the importance of aligning with “smarter money,” referring to central banks that oversee and implement monetary policies. 

Soloway concluded:

If they [Central Banks are] loading the boat on gold, then it probably says we need to do the same

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Bitcoin’s Upcoming Leap? Analyst Predicts A Potential $45,500 Rise By November


Bitcoin (BTC), the pioneering digital currency that has recently seen a notable surge recording 51% in global crypto market capitalization dominance, has now received a fresh analysis from CryptoCon, a seasoned crypto technical analyst hinting at a potential surge in the asset’s price.

This projection, shared in a recent post on X (formerly known as Twitter), has caught the attention of many, given its bullish outlook amid the present market landscape.

Bitcoin Enters Mid-Cycle Phase Four

Based on CryptoCon’s research, Bitcoin has embarked on its fourth mid-cycle phase. It is worth noting that such categorized phases are integral in understanding the potential trajectory of a cryptocurrency.

This new phase suggests that Bitcoin is on a path to reach the “mid-top” of its cycle, which, according to CryptoCon, is around the $45,500 mark.

CryptoCon further elaborated that there’s typically a swift transition to phase five after the second phase’s conclusion. Given this pattern, the prediction is that Bitcoin could reach the speculated $45,000 price point soon.

However, a key hurdle remains. For Bitcoin to ascend to this new height, it must first breach the $36,368 resistance level, the analyst disclosed.

The Path To $45,500: Factors And Timelines

Notably, the optimism surrounding this prediction is grounded in historical patterns. CryptoCon’s assessment indicates that a leap to the “mid-top” typically occurs approximately two months after the closure of the second phase.

The anticipation grows stronger as the first of these two months draws to a close. If the pattern holds and Bitcoin maintains its current momentum, we might witness it touch the $45,500 mark as we usher in November, the analyst concluded, noting:

Since our first month is about to come to a close in phase 4, the mid-top could be complete as soon as November. Translation: A possible move above 45k by next month.

It is worth noting that CryptoCon isn’t the only analyst sharing predictions on Bitcoin’s trajectory. Stephan Livera, Swan Bitcoin’s Head of Education, recently disclosed his projections for Bitcoin’s future.

Livera believes Bitcoin could reach around $500,000 by 2025 or early 2026. Yet, this ascent might not be without its challenges, possibly seeing a significant decline after reaching that peak.

Drawing comparisons with gold, Livera suggests that BTC could exhibit a similar valuation pattern. “So, it might go to $500k and then crash to $100k,” Swan Bitcoin’s Head of Education remarked. 

Bitcoin (BTC) price chart on TradingView

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Uniswap Foundation’s Unexpected $43 Million Token Sale: What’s Going On?


The spotlight has recently turned towards the Uniswap Foundation following notable shifts in its holding patterns. Uniswap Foundation, which backs the development and expansion of the Uniswap (UNI) protocol, made headlines for its sale of the platform’s native tokens. 

Uniswap’s UNI token has maintained its position as a prominent digital asset in decentralized finance (DeFi). Yet, the recently reported sale by the foundation responsible for its proliferation raises questions regarding its long-term strategy and the implications for the wider UNI ecosystem.

$43 Million Uniswap Token Sale Capture Attention

Recent data suggests that the Uniswap Foundation moved roughly $43.3 million worth of UNI tokens within three days. This activity becomes even more interesting when considering that substantial movements of UNI tokens from the foundation’s wallet have been rare over the past two years, according to data from Etherscan.

In a disclosure by the renowned on-chain analytics platform Lookonchain, the foundation reportedly transferred 6.8 million UNI tokens (valued at $29.16 million) to a new digital wallet.

A segment of these tokens also reached FalconX, a recognized digital asset trading platform. Adding another layer to this saga, Lookonchain unveiled that three million UNI tokens, translating to $13 million, were sold via the Kraken exchange deposit address affiliated with the automated market maker Wintermute.

The timing of this sale coincided with a period of significant gains for the UNI token, according to Lookonchain.

Further Insights Into The Foundation’s Token Activities

PeckShieldAlert, a renowned market risk assessment entity, also highlighted that the Uniswap Foundation had relocated nearly ten million UNI tokens to four distinct addresses.

With the cumulative value pegged at approximately $43.3 million, according to PeckShieldAlert, these revelations raise further questions about the foundation’s objectives behind these token sales.

Shedding light on the inflow of tokens to the foundation’s wallet, data from Etherscan documented the receipt of 10,685,984 UNI from a wallet labeled “Uniswap V2: UNI Timeblock” on October 20.

Meanwhile, regardless of the sell-off from the Uniswap Foundation, the UNI token has been in green over the past week, up by 7.5%. This bullishness appears due to the current global crypto uptrend sentiment, especially with Bitcoin up by more than 20% in the past 7 days.

Uniswap (UNI) price chart on TradingView

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