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 1Inch, TEN Finance, and others hit by a supply chain attack due to a compromised Lottie Player frontend library. Injected malicious code enables unauthorized transactions, posing risks to users’ funds and personal data. Users are advised to avoid any interactions with the websites; Lottie Player team is working on a fix. …
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In Brief The crypto market cap dipped, unable to breach $2.40 trillion, facing potential support at $2.29 trillion amid cautious sentiment. Bitcoin pauses near ATH at $73,800; a further dip to $71,367 could delay a new high, though investor optimism may sustain the uptrend. Celestia fell 11%, losing $4.96 support; holding $4.52 is key, with…
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In Brief Ethereum holders transferred about 390,423 ETH to exchanges, valued at over $1 billion. Crypto whales also appears to be selling, according to on-chain data from IntoTheBlock. ETH’s price could drop to $2,440 as bears restrict a further uptrend for the cryptocurrency. The value of Ethereum (ETH) sent into exchanges has surpassed $1 billion…
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In Brief Kamala Harris’s campaign begins accepting crypto donations via Coinbase Commerce, says CFO Alesia Haas. Future Forward PAC, not Harris directly, is accepting donations, signaling a shift in Democratic crypto policy. Harris’ outreach to crypto faces skepticism, while Trump holds a 53% chance of winning, per Polymarket odds. Coinbase’s Chief Financial Officer, Alesia Haas,…
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In Brief The SEC issued a Wells notice to OpenSea, potentially classifying NFTs as securities. OpenSea CEO pledges $5 million to support NFT creators receiving similar notices. The SEC’s legal action against OpenSea raises concerns about broader NFT regulation. On August 28, Devin Finzer, the co-founder and CEO of OpenSea, revealed that the US Securities and…
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In Brief The biggest altcoin gainers of the week include Polygon, FET, and Tron-related BitTorrent. MATIC price surged 32.5% due to previous whale accumulation and the upcoming POL migration. FET gained 26%, driven by increased capital flow while BTT rose due to Justin Sun-related activities. The third week of August 2024 has surprised the crypto…
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