In Brief Following Elon Musk’s outrage over the death of Peanut the Squirrel, the PNUT meme coin hit a $130 million market cap. Data shows that both whales and retail market participants bought into the hype as the meme coin soared in three days. While, PNUT’s price initially hit $0.14, it has retraced and the…
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In Brief Coinglass reveals that most Toncoin traders have opted to short the altcoin after its recent decline. On-chain data shows an increase in dormant TON tokens, indicating that a rebound is not close by. TON’s price currently trades below the 20 and 50 EMAs, suggesting that it could slide to $4.46. On November 1,…
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In Brief Craig Wright said he is developing a scaling solution to transform Bitcoin into a practical tool for global transactions. He aims to eliminate high fees and regulatory barriers, making Bitcoin accessible for trade, particularly in underserved regions. Wright’s goal is to empower individuals to use Bitcoin for personal financial freedom rather than as…
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In Brief One analyst via X predicts that Solana’s price could rally toward $290 before November 2024 ends. The Sharpe ratio shows that SOL offers a good risk to reward ratio with traders holding bullish positions. Another analyst suggests that the SOL/BTC uptrend could slow and this could drawdown Solana’s price. Solana (SOL) recorded an impressive…
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In Brief OpenEden, a platform for tokenizing real-world assets, recently saw a $30 million drop in total value locked (TVL). Market observers have linked the TVL decline to the misconduct allegations against its co-founder, Eugene Ng. DWF Labs, a major backer, announced that it would withdraw its funds and consider legal action against Ng. OpenEden,…
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In Brief LUCE, GRASS, and ZEREBRO are coins thriving on Solana, with rapid growth and high transaction volume. LUCE has reached a $40M market cap and a low RSI of 33, hinting at a possible rebound. GRASS and ZEREBRO show strong demand; GRASS broke $1, while ZEREBRO doubled in 24 hours. Coins within the Solana ecosystem are…
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In Brief Ethereum (ETH) neared $3,000 but dropped below $2,600; on-chain metrics now hint at a possible trend reversal. Key indicators, like the Taker Buy/Sell and MVRV ratios, suggest ETH may recover, targeting the $2,800 zone. ETH may hit $3,262 in a bullish scenario; however, a drop below $2,345 support could send it as low…
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In Brief Grayscale launched trading on its XRP Trust, while 21Shares formally applied for an XRP ETF, marking major developments. Grayscale’s XRP Trust offers early access but may lose appeal if dedicated XRP ETFs gain approval and market traction. SEC ambiguity around XRP ETFs persists, while firms like 21Shares and Grayscale seek to establish early…
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In Brief Raydium (RAY) gains almost 20% this week, retaining dominance as Solana’s leading decentralized exchange by volume. Bullish indicators hint at further gains, with RAY’s RSI below overbought levels and short-term EMAs trending upwards. Raydium’s 62% share of Solana DEX volume shows its impact; sustained gains could push RAY to highs unseen since 2022.…
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In Brief ETH price has risen over 7% in a week, though cautious whale activity suggests mixed sentiment. Positive EMA lines hint at a bullish trend, with possible gains if ETH uptrend holds steady. A large outflow of 361,000 ETH from exchanges on Oct. 25 signals long-term holder confidence. Ethereum (ETH) price has climbed more…
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