Avalanche

The Terra Classic (LUNC) price has been on a tear recently and over the last month, it has managed to outperform almost every cryptocurrency in the market. Its price has risen over 300% in a 30-day period, and this has brought its market cap back over $1.5 billion once more. As the coin continues to outperform, the possibilities of it returning to its previous all-time high market cap become greater. LUNC Price Breaks One-Year High Following the Terra collapse in 2022, the LUNC (then known as LUNA) price crashed completely, going from above $100 to less than $0. This has continued through the last year especially as the LUNC supply has swelled to over 6.5 trillion. Related Reading: AVAX Uprising: Crypto Analyst Predicts Bullish Wave To Push Price To $30 As the price has plunged, so has the market cap. But with the recovery in price so far, the jump in market cap has come as no surprise. However, it is still a long way from its all-time high market cap of $45 billion which was reached back in 2021. Now, if LUNC were to return to this all-time high market cap once more, it would be a significant increase from its current price. But it will still be a long way from its ATH price of $$120. At a market cap of $40 billion, the price of the altcoin would be just around $0.007. This would mean a more than 10x increase from its current price. However, it’ll still be very low compared to its previous price as well as the price of the new LUNA token which was launched in 2023 and is already trading above $1. Token price breaks $0.0002 | Source: LUNCUSDT on Tradingview.com Can Terra Classic Break Previous ATH? The LUNC community has implemented a burn initiative to reduce the amount of tokens in circulation. This has seen billions of tokens taken out of circulation in less than a year. Data from the LuncMetrics website shows that so far, 83.77 billion tokens have been burned since the burn initiative was introduced in 2022. However, this is only a drop in the ocean of the total token supply which numbers in the trillions. Related Reading: 3 Bitcoin-Like Proof Of Work Altcoins That Could Make You A Millionaire In 2024 Nevertheless, the community continues to burn tokens in a bid to drastically reduce the circulating supply. In the last seven days, a little over 5.2 billion LUNC tokens have been sent to the burn address, reducing the supply little by little. The LUNC price is already far from returning to its past glory, but there is still a lot ahead for the coin. If it continues to perform well in the bull market, a return to the $0.01 level is a possibility. As the crypto industry grows, the likelihood of top coins crossing the $100 billion market cap becomes even more likely, signaling a better future for the altcoin. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from Analytics Insight, chart from TradingView.com

LUNC Stuns With 300% Gains, Can It Reach Its Previous ATH Market Cap?

The Avalanche (AVAX) price has performed reasonably well this year, going from a low of around $9 to as high as $24 before correcting back downward. Since the correction, the altcoin has been trading in a tight range around $20 and $21. However, this might not continue for much longer following one crypto analyst’s prediction. An AVAX Bullish Wave Is Rising Crypto analyst Babenski has unveiled their bullish prediction for the AVAX price going forward. According to the analyst, the digital asset could be poised for an incredible run that could break multiple bearish resistances to bring its price to $30. Related Reading: 3 Bitcoin-Like Proof Of Work Altcoins That Could Make You A Millionaire In 2024 Babenski’s analysis hinges on the EMA100 (Exponential Moving Average) which they identify as providing dynamic support for the altcoin. This began during the October rally where prices started rising and AVAX did not lose the EMA100 despite multiple corrections. Source: TradingView.com Even on the 4-hour chart that the analyst presents, the altcoin’s price also touched down toward the EMA100. But once again, this dynamic support held as the price bounced off and continued on its merry way. This suggests a lot of support for the asset at this level. Additionally, the crypto analyst reveals that the AVAX price has also broken out of a bullish pennant. This is shown in the chart as the price resumed its uptrend above $21. This breakout “Looks bullish in short term,” according to the analyst, and could send the price to $30. However, the bullish trend is not the only one that is spinning for the AVAX price. While bulls remain firmly in control, there is still the possibility of the altcoin losing its dynamic support. If this happens and the price drops lower, then Babenski reveals that the next significant support is located just around the $17 price level. Token price reclaims $22 | Source: AVAXUSD on Tradingview.com Avalanche Ordinals Take Center Stage The Avalanche network has also seen a surge in its network usage that could contribute to the price surge predicted for the AVAX price. Following the Polygon network, Ordinals have also made their way to the Avalanche network and their adoption caused a spike in transaction numbers Related Reading: Top 2 Under The Radar Altcoins That Could Do A 70000% Run Like Kaspa (KAS) Last week, Ordinals minting accounted for around 96% of the total transaction numbers, and as the fees on the network increased, so did the demand for AVAX. Additionally, Avalanche has debuted its new explorer after cutting ties with Etherscan. The network has now moved to a new multichain explorer for considerably cheaper than what they used to get with Etherscan. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from Medium, chart from TradingView.com

AVAX Uprising: Crypto Analyst Predicts Bullish Wave To Push Price To $30

The post Avalanche Price Reclaims $22 Mark! Will AVAX Price Claim $30 By The Year-end? appeared first on Coinpedia Fintech News
Avalanche price has displayed significant price action recently as the token gained over 7% in value within the past day, and has doubled the net worth of its investors during the past month by adding 102% in value over the past 30 days. The AVAX price started the month of November trading in a consolidated …

Avalanche Price Reclaims $22 Mark! Will AVAX Price Claim $30 By The Year-end?


                        
                    
                                    IOTA price saw a high volume surge that took the altcoin to a near 1-year high, but are there reasons to support further upside?
                    IOTA, an open-source distributed ledger and cryptocurrency focused on the Internet of Things (IOT), saw its native IOTA token rally 43% on Nov. According to a press release from the project, the foundation will be seeded with $100 million in IOTA tokens, which will be vested over a four-year period and traders clearly perceived the announcement and funding plan as a short-term bullish catalyst. Historically, ecosystem and developer incentives by blockchain and DeFi protocols tend to attract liquidity to the project and boost market participant sentiment. In August 2021, Avalanche’s AVAX token went on a 1,400% tear after the announcement of the Avalanche Rush DeFi incentive program. A similar outcome was seen with Trader Joe’s JOE token in the months following December 2022 after the DeFi protocol announced plans to establish a presence on Arbitrum. Currently, the Arbitrum ecosystem is hosting liquidity and developer incentives and these initiatives align with the recent 62% resurgence in ARB token price. Was IOTA’s price move another sell-the-news event?On Nov. $IOTA Funding Rate and Long/Short ratio at historical low! pic.twitter.com/wloZNoLMxu— Coinalyze (@coinalyzetool) November 30, 2023


Traders often interpret funding rates and longs-to-shorts ratios as sentiment gauges and indicators of how active investors are positioned. Read more

IOTA makes 40%+ move after $100M ecosystem foundation announcement

Dive into the compelling story of Avalanche (AVAX) and Polkadot (DOT) as they navigate the challenging red crypto market. This in-depth analysis explores their resilience and potential to convert November gains into significant year-end successes. With AVAX receiving a financial boost and DOT gearing up for a major update, our coverage offers a nuanced look at their strategies to overcome market pressures. Stay informed and ahead in the crypto arena with our expert insights, guiding you through the possibilities of a remarkable turnaround or the risks of a downward trend in this ever-evolving digital currency landscape.

Can Avalanche (AVAX) and Polkadot (DOT) Overcome Red Market Challenges for a Strong Year-End Rally?

AVAX price is showing positive signs above the $20 support. Avalanche bulls seem to be in control, and they might aim for a rally toward $25. AVAX price is showing positive signs above the $20 level against the US dollar. The price is trading above $21 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if there is a clear move above the $22.50 and $23.00 resistance levels. AVAX Price Signals Fresh Rally After a strong increase, Avalanche’s AVAX faced resistance near the $24.00 zone. It started a downside correction from $24.05 but remained in a positive zone, like Bitcoin and Ethereum. There was a drop below the $23 and $22 levels. The price declined below the 50% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It even spiked below the $20 support zone. However, the bulls were active above $18.80. AVAX price found support near $18.80 and the 61.8% Fib retracement level of the upward move from the $15.60 swing low to the $24.05 high. It is again moving higher and trading above the $20 level. There was a move above the $21 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $20.60 on the 4-hour chart of the AVAX/USD pair. On the upside, an immediate resistance is near the $22.50 zone. Source: AVAXUSD on TradingView.com The next major resistance is forming near the $23.00 zone. If there is an upside break above the $22.50 and $23.00 levels, the price could surge over 10%. In the stated case, the price could rise steadily towards the $25 level. Dips Limited in Avalanche? If AVAX price fails to continue higher above the $22.50 or $23.00 levels, it could start another decline. Immediate support on the downside is near the $20.60 level and the 100 simple moving average (4 hours). The main support is near the $19.50 zone. A downside break below the $19.50 level could open the doors for a fresh decline towards $18.80. The next major support is near the $15.80 level. Technical Indicators 4 hours MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level. Major Support Levels – $19.50 and $18.80. Major Resistance Levels – $22.50, $23.00, and $25.00.

AVAX Price Prediction: Avalanche Rally Just Getting Started?

The post AVAX Price Ready For Takeoff, Triangle Break Teases $30! appeared first on Coinpedia Fintech News
Coming to the end of 2023, the altcoins are preparing bullish continuation patterns and eye higher levels to the end. Similarly, the AVAX price trend displays a breakout rally ready to gain momentum in the 4H chart.  Prolonging the uptrend in the daily timeframe, the breakout signals an early entry opportunity for short-term traders. Further, …

AVAX Price Ready For Takeoff, Triangle Break Teases $30!

A closely followed crypto strategist believes that four altcoins including Solana (SOL), Chainlink (LINK) and Avalanche (AVAX) will witness a bearish December. Pseudonymous analyst Altcoin Sherpa tells his 198,900 followers on the social media platform X that he thinks SOL, LINK and AVAX will likely give up some of their gains before the next leg […]
The post Crypto Trader Warns Slow Grind Down Incoming for Solana, Chainlink, Avalanche and One DeFi Altcoin appeared first on The Daily Hodl.

Crypto Trader Warns Slow Grind Down Incoming for Solana, Chainlink, Avalanche and One DeFi Altcoin

PLAYA3ULL GAMES is a gaming studio with its own blockchain & crypto coin (in the Avalanche ecosystem). Is it the next Gala Games? 

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LIKE BUYING GALA GAMES AT 1¢  👉 AVAX ECOSYSTEM CRYPTO GEM!

Avalanche’s native token, AVAX, is positioned right at a crucial long-term weekly resistance level that could determine its next major move. Holding above $20.65 support after finally breaking this barrier could set the stage for an explosive rally upwards. Keypoints AVAX price broke above crucial weekly resistance at $20.65 that had rejected rallies for over [...]
The post Avalanche AVAX Price: Poised for Major Breakout if Crucial Level Holds as Support appeared first on Blockonomi.

Avalanche AVAX Price: Poised for Major Breakout if Crucial Level Holds as Support

The post Rebel Satoshi Poised to Outshine Avalanche and Solana in the Cryptocurrency Investment Race appeared first on Coinpedia Fintech News
TLDR  Blockchain ICO analysts expect a 30% surge for Rebel Satoshi’s $RBLZ in the next round of its presale.  Avalanche’s partnership with Republic may see AVAX climb to $23.73 by December 12.  Solana’s SOL is expected to drop to $44.35 by mid-December. As the holiday season draws near, the cryptocurrency market remains a focal point …

Rebel Satoshi Poised to Outshine Avalanche and Solana in the Cryptocurrency Investment Race

Looking to gamble online and wondering which casinos accept Avalanche?  In this guide, we compare the five best Avalanche casinos for 2023. Read on to choose the best AVAX casino for bonuses, games, payouts, house edges, and more.  List of the 6 Best Avalanche Casinos 2023 The best Avalanche casinos for 2023 are listed below: […]
The post 6 Best Avalanche Casinos & Gambling Sites 2023 appeared first on Cryptonews.

6 Best Avalanche Casinos & Gambling Sites 2023

Shiba Inu (SHIB) burn tracker, Shibburn, has called out the creator of the meme coin, who goes by the pseudonym “Ryoshi”. The community project seemed to suggest that Ryoshi wasn’t acting in the best interest of the SHIB ecosystem.   How “Ryoshi” Has Hampered SHIB’s Burn Rate In a series of posts on their X (formerly Twitter) platform, Shibburn alleged that the founders of the token haven’t always been honest in their dealings. Specifically, the platform suggested that the founders have forestalled the token’s burn rate by refusing to burn over 103 trillion SHIB. This particular allegation stemmed from their statement about Ryoshi’s SHIB holdings. Related Reading: FTX’s FTT Token Leads Market Gains With 55% Rally, What’s Driving It? Shibburn mentioned that Ryoshi lied about how much SHIB they held. They stated how the SHIB founder had, in their own words, claimed to hold “0 SHIB” as doing otherwise could bring about a conflict of interest. Meanwhile, that turned out to be a lie, as Ryoshi apparently holds over $1 billion worth of SHIB. The founders have apparently gone to great lengths to hide their holdings as they keep moving them across separate wallets. In doing so, Shibburn believes that they have impeded the ecosystem’s growth as some of these tokens are meant to be burnt. Shibburn went as far as alleging that Ryoshi didn’t care about SHIB’s development and was only out for themselves. Shiba Inu Founders Only Out To Enrich Themselves  As part of the shocking revelations, Shibburn mentioned that Ryoshi may not be who many think of them as. Instead, they are said to be a “group of greedy investors” who are just looking to profit off the community. To achieve this, SHIB is said to be their “golden goose,” which they use as a means to enrich themselves.  Besides Ryoshi, SHIB’s lead developer, Shytoshi Kusama, was also caught up in the mix. Shibburn accused the developer of not being a “real dev” and suggested that Shytoshi was also out to make profits off the community. One instance that they alluded to was how the developers allegedly rewarded themselves with a “large amount of $BONE” when ShibaSwap was created. Related Reading: AVAX Holders Beware: $204 Million Token Unlock Could Trigger Price Crash Today Shibburn hinted that was the reason why BONE was made a gas token for Shibarium, possibly in a bid to increase the token’s utility and make it more valuable. Shytoshi has yet to respond to these allegations neither has anything been posted on the official announcements blog, where the developers are known to give regular updates. Shiba Inu also seems unfazed by these allegations. At the time of writing, the meme coin is trading at around $0.000008189, up in the last 24 hours, according to data from CoinMarketCap.  SHIB price stalls as bulls vie for control | Source: SHIBUSD on Tradingview.com Featured image from Coins.ph, chart from Tradingview.com

Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

Avalanche is seeing renewed growth in terms of addresses and transactions on the network.

AVAX On-Chain Metrics Surge Amidst Upcoming Token Unlock Event: Data

According to a report by Business Insider, Sam Bankman-Fried (SBF), co-founder and former CEO of FTX, has adapted to the economic system of New York’s Metropolitan Detention Center (MDC), where he is currently awaiting sentencing on multiple felony counts.  The disgraced crypto-billionaire has reportedly been bartering, using food as currency in exchange for various services within the prison. Former FTX CEO SBF Trades Fish For Services Per the report, mackerel, a fish commonly referred to as “macks” among inmates, emerged as the currency of choice in federal prisons after cigarettes were banned. The fish’s popularity stems from its stability and value within the prison economy.  Formerly incarcerated individuals like attorney Larry Levin have accepted mackerel as payment from fellow prisoners, using it to acquire services such as beard trims and shoe shines.  The demand for mackerel became so significant that suppliers, including Global Source Marketing, witnessed increased sales, according to Business Insider. Related Reading: AVAX Holders Beware: $204 Million Token Unlock Could Trigger Price Crash Today In a prison environment where inmates lack access to traditional or digital currency, products with steady value, such as certain food items and stamps, serve as substitutes for money.  Mackerel and other stable commodities like tuna become a means of exchange, with their value pegged to the dollar. This economic logic allows inmates to engage in various transactions while maintaining a semblance of a barter system. The use of fish as a medium of exchange in federal prisons has been widespread since 2004, following the cigarette ban.  Sam Bankman-Fried faces sentencing on March 28, 2024, for charges that include wire fraud and conspiracy to commit money laundering, with a potential prison term of up to 110 years. Additionally, SBF is set to stand trial for separate counts related to political bribery.  FTT Surges with Impressive Gains FTT, the native token of the FTX cryptocurrency exchange, has seen a remarkable surge in value in recent weeks. With substantial gains across various timeframes and an impressive market capitalization of 1.5 billion, FTT has cemented its position among the top 50 tokens in the crypto market.  Related Reading: Is Dogecoin About To Reverse? Key Factors To Watch Over the past 24 hours, FTT has experienced a significant increase of 21%, showcasing the token’s upward momentum. This short-term surge is complemented by a strong performance over the past week, with a notable rise of 26%.  However, the real standout lies in FTT’s gains over the past 14 and 30 days. Within the last two weeks, FTT has skyrocketed by an impressive 100%, while the 30-day timeframe has seen an astounding surge of 315%.  These gains highlight the growing demand and investor interest in FTT as rumors of a possible reboot of the exchange circulate within the crypto community. Featured image from Bloomberg, chart from TradingView.com

From Crypto To Catch: Disgraced FTX Founder Turns To Trading Fish In Prison

The post AVAX rises following Onyx collaboration, InQubeta (QUBE) and Fetch.AI (FET) among top AI cryptos on investor Radar appeared first on Coinpedia Fintech News
In the vibrant and ever-evolving world of cryptocurrencies, every now and then, a story unfolds that captures the collective imagination of the crypto community. Recently, such a narrative has taken shape with Avalanche (AVAX), a top altcoin that witnessed a staggering price surge following a landmark collaboration with Onyx, JPMorgan, and Apollo Global. Amidst this …

AVAX rises following Onyx collaboration, InQubeta (QUBE) and Fetch.AI (FET) among top AI cryptos on investor Radar

Token unlocks for cryptocurrencies such as AVAX are not new but that does not negate the kind of impact that these unlocks can have on the price. Depending on the size of the unlock, it could trigger a market crash as millions of new coins roll into circulation and are dumped on retail. This could certainly be the case for AVAX today given the size of the upcoming unlock. AVAX Unlock At $204 Million AVAX’s most recent unlock is about to see a total of 9.5 million tokens being brought into the open market. With the price of the altcoin trending above $21, this puts the total value of the unlock at approximately $204 million. Related Reading: Cardano Forecast: Crypto Analyst Identifies The Event That Could Send ADA Price To $11 According to data from the Token Unlocks website, this unlock will see another 2.68% of the total token supply added to the circulating supply. This will take the percentage of the total supply already unlocked from 55% to 57.68%. This cliff unlock will continue to inflate the AVAX supply, posing a potential roadblock for rallies as the supply increases. Source: Token Unlocks The standard allocation for this cliff unlock is spread across multiple spheres, with the largest portion going to staking rewards. 50% of the total unlocked tokens usually go to these stakes. Then the team portion is 10%, while the foundation gets 9.3%. Implications For Token Price Naturally, an inflation in supply is not good for the token price and this will likely be reflected in the AVAX price soon after. However, taking a look at the last unlock event carrying the same number of coins which took place on August 23, 2023, the chart shows only a small dip in price, suggesting that the unlock event had already been priced in. If this were to repeat, then it’s possible that the AVAX price could maintain its momentum. But the difference between the current trend and that of August is that the token’s price has risen quickly in the last day. This could trigger selling as investors try to take advantage of the price recovery and secure their gains. Related Reading: Ethereum L2 Blast Crosses $123 Million, Important Things To Know Before You Bridge In As data from IntoTheBlock shows, the percentage of AVAX holders that are currently sitting in profit has reached a new 20-month high. A total of 4.02 million holders are sitting in profit, which makes up 66% of the total holder base. The last time that the holder profitability was this high was back in April 2022 when the price was at $94.93. What followed was aggressive profit-taking that would send the price falling more than 70% in a few months. So a repeat of this could see the AVAX price return toward $10. Token price holds during last unlock | Source: AVAXUSDT on Tradingview.com Featured image from Coin Culture, chart from Tradingview.com

AVAX Holders Beware: $204 Million Token Unlock Could Trigger Price Crash Today

The post AVAX Price Jumps 10% As Bulls Move On From Binance Case! appeared first on Coinpedia Fintech News
The altcoins are shaking off the bad vibes after taking a hit due to Binance pleading guilty against the recent criminal charges. Quickly regaining the lost momentum, the AVAX price trend resurfaces above the lost level of $20 with a strong bullish candle.  Following the golden crossover and the sustenance above $20, the AVAX price …

AVAX Price Jumps 10% As Bulls Move On From Binance Case!

Taking to X on November 22, one user, @kevinsekniqi, notes that the Avalanche C-Chain is burning roughly $12.65 of AVAX every second, a development that could be a massive boost for AVAX in the long term. The surge in AVAX burning on the C-Chain is primarily due to the launch of inscriptions, which permit storing data on the Avalanche’s C-Chain, pushing the number of AVAX being taken out of circulation. Avalanche Burning AVAX At Record Pace @kevinsekniqi estimates that if the burn rate is maintained at spot rates, it could see approximately $400 million of the coin taken away from circulation. This could be a significant figure supporting AVAX bulls long-term since reducing supply at constant demand would naturally lead to price gains. Related Reading: Panic At Binance Following CZ’s Departure? Analyzing 24-Hour Inflow and Outflow Trends The heightened activity in recent days stems from the over 2.3 million daily transactions tied to users creating and transferring “ASC-20” tokens to inscribe data permanently onto Avalanche’s C-Chain. On average, the Avalanche C-Chain processes around 450,000 transactions daily. However, this figure has been changing in recent days, reading from on-chain data. On-chain activity is up roughly 4X due to inscriptions, driving the network’s revenue as gauged by gas fees collected. Through inscriptions, new use cases, as demonstrated in Bitcoin, around provable ownership and identity have emerged. Since Avalanche is a public ledger maintained by distributed validators operating nodes, gas fees must be paid. Part of the gas is burnt as part of Avalanche’s structure. FTX Group Selling AVAX, Bulls Dominant It is not immediately clear how the spike in the number of inscriptions on the C-Chain will impact prices. Though more inscriptions could support bulls, other external market factors should be considered.  Related Reading: Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today? According to Scopescan data, FTX Group, a team tasked with managing FTX estate, recently sent 916,780 AVAX worth $20.7 million to Binance. Transfers to centralized exchanges are often interpreted as bearish. Following this, AVAX prices fell by 13% on November 21.  Prices remain stable, and AVAX maintains an uptrend despite prices contracting this week. Looking at the developments in the daily chart, the coin roared 190% from October 2023 lows. It peaked at around $16 in November.  At present, prices have cooled off, dropping by approximately 18%. Nonetheless, the uptrend remains. Any break above $16 could spur more activity, even lifting the coin towards August 2022 highs of around $30.  Feature image from Canva, chart from TradingView

Avalanche C-Chain Burning $12.65 Of AVAX Every Second, What Does It Mean For Price?

Shibarium, the Ethereum Layer network from the Shiba Inu team, has had a rocky few months following its highly anticipated launch. After surging immediately following its launch, its figures dropped as interest waned. However, there has been a change in the performance as transaction numbers are spiking once again. Transaction Numbers Jump 288% On Shibarium In the last few days, there has been a marked increase in the number of transactions carried out on the Shibarium network. The Shiba Inu Layer 2 blockchain saw a nice jump from November 19 to November 22. Related Reading: Did JPMorgan Secretly Buy 7.5 Million XRP? Here’s What We Know On November 19, the total number of transactions on the network was 8,930. But as of November 22, this figure is sitting at an impressive 34,670 transactions. This represents a 288% increase in the space of three days. As a result, the total number of transactions carried out on the network since inception has now crossed 3.578 million. Transaction numbers spike 288% | Source: ShibariumScan There was also a small uptick in the number of active accounts on the network, albeit to a smaller extent compared to the transaction count. Active accounts went from 569 on November 20 to 648 on November 22. However, amid all of these, the amount of new blocks created on the network took a nosedive. Between November 20 and November 22, the number of new blocks created on Shibarium went from 17,214 to 13,907, a 20% decrease in two days. SHIB price crashes alongside Bitcoin | Source: SHIBUSD on Tradingview.com Why Is Shiba Inu Price Down? Despite the immense growth recorded in the Shibarium over the last few days, the Shiba Inu price has not followed this trend. Rather, the meme coin is seeing losses, especially on the 24-hour chart and this can be attributed to the general crypto market downtrend. Related Reading: AVAX Open Interest Climbs 10.4% To $224 Million, Is $30 Possible? The crypto market saw a crash after Changpeng Zhao announced he would be stepping down as the CEO of Binance and that the exchange had agreed to a $4 billion fine with the DOJ. As a result, the price of Bitcoin dropped from above $36,000 to mid-$35,000s before recovery. However, the damage was already done and it dragged the altcoin market down with it. Currently, the price of Shiba Inu is down 3.62% to trade at $0.000008061. This decline follows the Bitcoin trend, suggesting that a recovery in the Bitcoin price would translate into a recovery in the Shiba Inu price as well. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from Crypto Valley Journal, chart from TradingView.com

Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?

In a recent post on X (formerly Twitter), noted XRP advocate and lawyer John Deaton shared his top 10 cryptocurrency picks for the next 12 months. His selection includes a mix of well-established and emerging digital currencies. He stated, “If you had to pick only 10 tokens to own for the next 12 months (as a trade) what are they? Here’s mine: BTC, XRP, ETH, QNT, RNDR, SOL, KAS, AVAX, HBAR, CSPR. What am I missing?” Analysis Of The Pro-XRP Lawyer’s Picks Bitcoin (BTC): Deaton likely selected Bitcoin due to the potential imminent approval of a spot Bitcoin ETF in the United States. Bloomberg Intelligence analysts anticipate that the US Securities and Exchange Commission (SEC) might approve multiple spot Bitcoin ETF by January 10, 2024, a move that could significantly impact Bitcoin’s value XRP: Deaton’s choice of XRP is consistent with his role as a strong supporter and legal advocate for the XRP community. XRP’s status as a regulatory-defined token in the United States with high utility adds to its appeal. Currently, XRP is consolidating after being rejected at the 0.618 Fibonacci retracement level at $0.7492. Ethereum (ETH): Despite the harsh criticism of Ethereum’s founder, Deaton has included ETH in his list. This might be due to its position as the second-largest cryptocurrency by market cap. Also, BlackRock and several other financial giants have recently applied for a Spot Ethereum ETF, adding to the potential bullish trajectory of ETH in the next 12 months. Related Reading: Did JPMorgan Secretly Buy 7.5 Million XRP? Here’s What We Know Quant (QNT): The QNT token of Quant Network has found itself in a downtrend channel since late January this year, down approximately 35% from its year-to-date high. With the current price of $98.74, QNT is 78% below its all-time high of $428.38 on November 21, 2023. Nevertheless, Quant can boast partnerships with major financial institutions, including the Bank for International Settlements (BIS), Bank of England, Bank of Canada, MasterCard, Amazon, and Barclays, to develop and test use cases for central bank digital currencies (CBDCs). Render Network (RNDR): The RDNR token is currently up 725% since the beginning of the year. Render Network provides a decentralized GPU rendering platform, allowing artists to scale GPU rendering work on-demand to high-performance GPU nodes. Notably, the RDNR price has also profited from the AI narrative. Solana: SOL has been one of the other big winners this year, up nearly 600% at the current price since it went below $8 at the end of last year. Solana is currently seen as the potential biggest challenger to Ethereum as a layer-1 blockchain, which is why Deaton may have ranked SOL on his list. Kaspa (KAS): Kaspa has gained attention due to its positioning as a highly scalable Layer-1 blockchain, with a focus on fast confirmations and high throughput. Its underlying technology, GhostDAG/PHANTOM protocol, aims to balance security, scalability, and decentralization. The KAS token’s impressive performance, with an over 2,600 % increase year-to-date, makes it a notable inclusion. Avalanche (AVAX): Avalanche’s AVAX token might be included due to its recent gains of almost 130% since mid-October. Deaton may have chosen AVAX because of Avalanche’s involvement in the Monetary Authority of Singapore’s tokenization initiative, Project Guardian, as well as its partnership with Amazon Web Services and Deloitte, all of which are potential catalysts for price appreciation. Related Reading: XRP Price: Cup And Handle Pattern Hints At Short-Term 208% Surge Hedera (HBAR): Hedera Hashgraph has gained prominence by becoming part of FedNow, the US Federal Reserve’s instant payments platform. This development led to a significant surge in the price of Hedera’s HBAR token. Casper (CSPR): Casper’s inclusion may be due to its position as one of the fastest-growing blockchain projects, with a focus on solving the blockchain trilemma of scalability, security, and decentralization. Remarkably, Deaton’s selections reflect a balance between established market leaders like Bitcoin and Ethereum, and emerging, high-potential projects like Kaspa and Casper. This blend indicates a strategic approach to cryptocurrency investment, recognizing both stability and innovation within the digital asset space. Featured image from YouTube / CryptoLaw, chart from TradingView.com