According to records, China has divested .3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury Holdings Drop Dramatically, Raising Red Flags for U.S. Markets China has significantly […]
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Cardano Whales Return To The Table, Increase Massive Holdings By 10%
Cardano (ADA) whales are back in the picture, with recent data suggesting their confidence in the crypto token may have been revived. If so, this will be massive for ADA, which could experience significant price surges soon enough based on this development.
Cardano Whales Add To Their Holdings
The market intelligence platform IntoTheBlock recently revealed in an X (formerly Twitter) post that Cardano whales (who hold between 100 million and 1 billion ADA) have now added 11% to their balances over the past 30 days. These investors now hold 6.71% of Cardano’s total supply.
This represents a bullish development for Cardano since whale accumulation usually suggests that these investors are positioning for a potential price surge. These whales also contribute to the price surge since buys of such magnitude could trigger a rally in the price of any crypto token.
Besides the whales, retail investors are also heavily invested in Cardano. Data from IntoTheBlock shows that the bid-ask volume imbalance is bullish for ADA. Furthermore, the ‘In The Money’ metric has also turned bullish for Cardano, meaning that most of these investors are currently in profit.
Generally, the confidence in the Cardano ecosystem is growing once again. Data from DeFiLlama shows that the Total Value Locked (TVL) on the network has increased by over 5% in the last seven days. Lately, there has also been a significant increase in Cardano’s trading volume, meaning users are actively trading on the network.
Cardano’s Rally Is Imminent
Crypto analyst World of Charts suggested that Cardano might soon experience a significant rally, noting that the crypto token’s breakout was already confirmed and moving toward the projected price targets. The analyst had previously predicted that a successful breakout would take Cardano’s price to in the coming weeks.
Crypto analyst Trend Rider also confirmed that Cardano is already witnessing a bullish reversal, highlighting the bounce the crypto token made after flashing a bullish signal on the daily chart. In the short term, the analyst expects ADA to climb back above .5 and added that Cardano will need to hold above .51 on the weekly to end the price correction and confirm a bullish continuation.
Crypto analyst Dan Gambardello, the founder of Crypto Capital Venture, also provided insights into Cardano’s future trajectory. He noted that Cardano is currently breaking its 20-day moving average (MA), which the analyst claimed is a very “nice sign” for ADA.
Gambardello pointed out on Cardano’s daily chart that the 50-day MA has crossed the 200-day MA, which likely means that the bottom is already in, and this is the lowest Cardano will go. This occurrence is referred to as a golden cross and is a bullish signal, indicating the beginning of an upward trend.
Featured image from Pexels, chart from TradingView
Polkadot Price On The Verge Of Massive Breakout, Can It Reach $25?
Polkadot (DOT) has come under the spotlight with crypto analysts laying out bullish narratives for the crypto asset. One of them is crypto expert Michaël van de Poppe, who believes Polkadot could rise to as high as in this bull run.
Polkadot Could Reach On Next Leg Up
Michaël van de Poppe mentioned in an X (formerly Twitter) post that Polkadot’s next rally will see it climb between and . He explained that the crypto token has seen a substantial correction in the past months, but it showed enough strength by coming back to pre-rally levels. The analyst further claimed that Polkadot has bottomed, “especially since JAM Whitepaper came out.”
As such, he believes that Polkadot is more than primed for this rally, which could propel it to such heights. The crypto analyst has been a big believer in Polkadot’s potential. He previously included Polkadot in a list of crypto tokens that he believes are undervalued. He claimed that DOT’s valuation was still at a cycle low, which had opened up a “huge opportunity” to invest in it.
Van de Poppe is very much invested in Polkadot because of its technology. In a previous X post, he highlighted how the JAM (Join-Accumualte Machine) Paper, which ushered in Polkadot 2.0, would revolutionize DOT’s ecosystem. He also claimed that Polkadot is the “second largest blockchain in terms of developers and growth.” Therefore, he expects DOT’s price to complement the team’s efforts soon enough.
Meanwhile, Van de Poppe expects Polkadot to reach as high as in the third quarter of this year. For now, he believes that the and range are crucial resistance levels that the crypto token must break out of to enjoy such a parabolic rally.
A More Bullish Prediction For DOT
Crypto analyst Crypto Thanos offered a more bullish prediction for Polkadot, stating that the crypto token climbing above is “easily achievable” in this bull run. He believes this price is attainable because he expects institutions to get interested in large caps like Polkadot. He also noted Polkadot’s collaboration with Tie, which aims to increase institutional exposure and access.
It is worth noting that Polkadot’s all-time high (ATH) is currently , which makes Thanos’ prediction for the crypto token feasible. Crypto tokens are known to usually surpass their ATH in every bull run.
Crypto analyst Captain Faibik provided insights into what to expect from Polkadot in the short term. He predicts the crypto token will record a 35% “bullish rally” soon enough. He said a “major trendline breakout/retest has already been confirmed” for DOT on the four-hour timeframe chart.
At the time of writing, Polkadot is trading at around .11, up over 2% in the last 24 hours, according to data from CoinMarketCap.
PEPE Whales Go On Massive 720B Shopping Spree Amid Campaign For New ATHs, Is It Time To Get In?
Pepe (PEPE) has recently grabbed the headlines, having hit a new all-time high (ATH) this week. The meme coin has also drawn the attention of crypto whales who have accumulated the crypto token lately. Whales accumulating the meme coin will suggest that now might be a good time to buy PEPE, but that might not be the case.
Crypto Whales Buy 720 Billion PEPE Tokens
On-chain analytics platform Lookonchain recently drew the crypto community’s attention to a whale who purchased 520 billion PEPE from the crypto exchange Binance. This move might, however, have been motivated by the fear of missing out (FOMO), as Lookonchain noted that this trader hasn’t always made the smartest investment moves, having lost .1 million so far.
Meanwhile, on-chain data shows another whale who bought over 200 billion PEPE tokens through the trading firm Cumberland. Irrespective of their intention, crypto whales accumulating a crypto token usually paints a bullish outlook for the coin in question. Based on this, crypto investors will usually assume that this is an excellent time to buy the meme coin in expectation of further price surges.
However, this might not be a good time to buy, as data from IntoTheBlock suggests that a price dump may be imminent for PEPE before it makes another move to the upside. The market intelligence platform revealed that 100% of PEPE holders were in profit thanks to the meme coin hitting a new ATH.
Given such development, many of these holders are expected to book profits from their PEPE investment, leading to a wave of sell-offs that could negatively impact the meme coin’s price. Therefore, those looking to invest in PEPE right now may be better off waiting for PEPE to bottom out from this selling pressure before purchasing the meme coin.
Still Has Enough Bullish Momentum To Go
Crypto analyst and trader Rachid Crypto recently highlighted several factors that suggest that PEPE has yet to reach its peak. The analyst noted that the “mega meme cycle” and altcoin season are yet to begin. These are events that could still spark a further rally in the meme coin’s price.
Furthermore, PEPE is yet to be listed on major crypto trading platforms like Coinbase and Robinhood. That means there is still a lot of liquidity that could flow into the meme coin’s ecosystem. PEPE’s price will likely enjoy an upward trend whenever these trading platforms decide to list the meme coin.
Meanwhile, Rachid Crypto also stated that Ethereum will surpass its ATH, meaning that PEPE’s price will benefit from ETH’s run when this happens. PEPE’s price is known to have some correlation with Ethereum’s and will most likely enjoy a significant rally as Ethereum’s price picks up.
At the time of writing, PEPE is trading at around .00001056, down over 5% in the last 24 hours, according to data from CoinMarketCap.
Industry Experts Foresee Massive Growth for Crypto Market, Predictions up to $100 Trillion
Raoul Pal, a well-known financial sector figure, predicts a significant expansion of the cryptocurrency market, forecasting its market capitalization could reach 0 trillion due to global liquidity trends and technology adoption. His analysis is underpinned by observations of the global liquidity cycle, which has been influencing asset growth since 2008, along with the rapid adoption […]
Bitcoin News
Crackdown on Crypto Investment Scam Leads to Massive Raids in Argentina: $100 Million Operation Uncovered
The detainment of two Chinese and one Argentine national involved in a .25 million crypto investment scam led to the discovery of a 0 million operation in Argentina. According to local reports, the investigation resulted in the raid of a supermarket that was used as a facade for conducting illegal cryptocurrency mining operations, with dozens […]
Bitcoin News
Grayscale Maintains Steady Revenue Despite Massive GBTC Outflows in Q1
Grayscale Investments maintained stable revenue in the first quarter despite substantial outflows from the Grayscale Bitcoin Trust (GBTC), its converted spot bitcoin exchange-traded fund (ETF). The firm reported 6 million in revenue, little change from the previous quarter, as stated in a shareholder letter from Digital Currency Group (DCG), its parent company. The conversion of […]
Bitcoin News
Can Bitcoin Reach $70K In the Next Few Months? New Altcoin Presales Poised for Massive Gains
The question on everyone’s mind is whether Bitcoin can reach the impressive ,000 mark in the coming months. While Bitcoin’s performance remains a focal point, the spotlight is also on new altcoin presales that are showing promising potential for massive gains. Among these, Dogeverse, Wiener AI, and Sealana are emerging as key players in the crypto market, each with unique selling points and exciting prospects.
Bitcoin’s Trajectory Aiming for K
Bitcoin, the pioneer cryptocurrency, has been a rollercoaster of value fluctuations. Despite recent uncertainties, many analysts and investors are optimistic about its potential to surge to ,000 in the near future. Factors such as market sentiment, institutional adoption, and macroeconomic conditions play crucial roles in shaping Bitcoin’s trajectory.
It has been showing signs of a strong recovery, with some analysts suggesting that it could reach or even surpass ,000 by the end of the year. This optimism is partly driven by the macroeconomic environment, including monetary policies and traditional finance (TradFi) investors increasingly allocating to Bitcoin ETFs. The approval of Bitcoin ETFs has been a significant positive driver, suggesting a more mainstream adoption and institutional interest in cryptocurrency.
Market analysts from Coinpedia and crypto.news have noted that Bitcoin has already brushed against the ,000 mark and, supported by substantial investments from ‘whales’ (large-scale holders), could be poised for new highs.
Dogeverse – The Next Big Meme Coin
DOGEVERSE emerges as a promising player in the meme coin arena, drawing inspiration from the success of Dogecoin. Its multi-chain feature—it has been implemented in Ethereum, Base, Polygon, Avalanche, and BNB Smart Chain, among other blockchain ecosystems—sets it out.
Dogeverse has already attracted a lot of attention, raising over million in its initial coin offering (ICO) just a few weeks. This early demand suggests that investors have a great desire for the coin. Its appeal is increased by the possibility to stake Dogeverse holdings and receive staking rewards, which are now at an annual percentage yield (APY) of over 70%.
Seeing its promise, traders and cryptocurrency influencers like Crypto Boy and Jacob Bury have predicted that Dogeverse may yield significant profits—some even predicting a 100x increase in value.
Wiener AI – Merging Meme and AI Trends
Wiener AI stands out for its innovative fusion of meme coin dynamics and artificial intelligence trends. This playful project mirrors the success of ScottyAI and offers daily staking rewards with an impressive APY for early investors. Operating on the ERC20 blockchain, Wiener AI aims to carve a niche in the competitive dog token space with its unique value proposition and forward-thinking approach.
The success of the project has been mostly attributed to its special fusion of cutting-edge technology and comedy. Meme coin fans have taken to WienerAI’s mascot, a funny cross between a dog and a sausage, and its AI-powered capabilities are rather useful to holders.
One noteworthy feature is the staking pool at WienerAI, which at the moment provides an annual percentage yield (APY) of more than 800%, much higher than industry norms. Investors have been encouraged to stake their tokens; over 68% of the tokens sold during the ICO were staked, which may lessen selling pressure after launch.
Sealana – The Redneck Seal Making Waves
Sealana introduces a quirky concept with its depiction of a patriotic, overweight American redneck seal navigating the crypto world. Inspired by the impolite South Park character “Gamer Guy,” Sealana is a seal-themed degen who lived in his mother’s basement and ate chips and canned tuna instead of living in the water to seek meme coin fortune.
Despite market fluctuations, meme coins like Sealana demonstrate resilience, hinting at a potential surge in meme coin activity during the upcoming summer months. Sealana’s presale has already raised over 0,000, drawing interest from analysts and media outlets despite its lighthearted storyline.
Rumors indicating Sealana’s founders are the same group behind Slerf, a popular meme coin project that had a market capitalization of over 0 million in March, are adding to the frenzy. Though unproven, this relationship has given investors hope. Well-known people like Jacob Bury have suggested Sealana may provide substantial gains if it is listed on exchanges.
Considerations for Investors
As the crypto market continues to evolve, investors are keenly watching the impact of global economic trends, regulatory developments, and technological breakthroughs. With the rise of DeFi and the increasing acceptance of cryptocurrencies as a legitimate asset class, the landscape is ripe for potential growth.
The cryptocurrency market remains highly volatile, with prices influenced by various factors including regulatory news, market sentiment, and technological advancements. While the potential for Bitcoin to reach ,000 exists, investors should remain aware of the inherent risks and the possibility of sudden market shifts.
The potential for Bitcoin to reach ,000 in the coming months is supported by a combination of factors including institutional investment, market sentiment, and technological advancements. At the same time, the burgeoning field of altcoins presents new opportunities for investors willing to explore these emerging assets.
Investors should consider the role of altcoins in diversifying their portfolios. Coins like DOGEVERSE, Wiener AI, and Sealana offer different value propositions and could represent a shift towards more niche and community-focused investments, which might lead to substantial returns.
Bitcoin Suffers Massive Outflows Amid Crypto Market Uncertainty, Tops $284 Million
The recent unimpressive price action of Bitcoin is playing out in the minds of institutional investors, with recent data highlighting their bearish sentiment. This has led to a wave of massive outflows from Bitcoin investment products, which could negatively impact the flagship crypto.
Bitcoin Investment Products Record 4 Million Of Outflows
CoinShares revealed in a blog post that Bitcoin investment funds recorded an outflow of 4 million last week. Most of these outflows are said to have come from the US Spot Bitcoin ETFs, which saw outflows of 6 million last week. CoinShares noted that last week was the first time these funds recorded such a measurable amount of outflows.
Related Reading: Can Ethereum Reclaim ,000? Fragile Fundamentals Threaten To Send ETH Crashing
These US Spot Bitcoin ETFs indeed had a week to forget last week, as even BlackRock’s iShares Bitcoin Trust (IBIT) recorded its first day of outflows since launch, with almost million exiting the fund.
CoinShares suggested that the magnitude of outflows was likely due to Bitcoin dropping below ,000, which they estimate is the average purchase price of these ETFs since launch. Therefore, they claim that Bitcoin’s decline may have triggered automatic sell orders.
Before now, institutional investors had already shown mixed feelings towards these funds thanks to Bitcoin’s recent price action. As such, it makes sense that Bitcoin dropping below ,000 made them panic sell instead of holding their positions.
Despite this development, CoinShares noted that the Spot Bitcoin and Ethereum ETFs in Hong Kong which launched last week, were a bright spot, recording 7 million in inflows in the first week of trading. The launch of these funds could prove timely, with Bitcoin needing a catalyst to continue its upward trend.
Interestingly, CoinShares revealed that Bitcoin was the only crypto asset to record outflows. On its part, Ethereum broke its seven-week streak of recording outflows, with million flowing into Ethereum investment products. Other altcoins like Avalanche, Cardano, and Polkadot also saw inflows.
Spot Bitcoin ETFs Still Not In The Clear
With Grayscale’s GBTC recording its first day of net inflows last week, there was the feeling that such development could spark a turnaround in the outflows that the Spot Bitcoin ETFs have been recording. However, that hasn’t been the case. On May 7, these funds recorded a net outflow of .7 million.
Related Reading: Here’s How This Ethereum Whale Made Million From A Single Trade
GBTC was again the primary culprit, with the fund seeing a net outflow of .6 million. These outflows have continued to affect Bitcoin’s price negatively, given the amount of selling pressure it is piling on the flagship crypto.
At the time of writing, Bitcoin is trading at around ,300, down over 2% in the last 24 hours, according to data from CoinMarketCap.
Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here’s The Target
Shiba Inu has rebounded by over 19% from its .00002081 price point at the beginning of the month. Current price action shows the cryptocurrency might be on its way to performing an interesting price surge in the coming weeks. According to one crypto analyst, SHIB could actually go on a 120% price surge after breaking out of the current consolidation.
Crypto Analyst Says Massive Surge Coming
SHIB kickstarted a price correction immediately after reaching 0.00003556 in early March. Bullish investor sentiment surrounding the meme cryptocurrency at the time quickly changed into a bearish one. This pushed SHIB on a decline that bottomed out at .00002117 in the middle of April, indicating a 40% price correction in those two months. Interestingly, this was the worst SHIB price decline since the May 2022 collapse of the Terra ecosystem.
Related Reading: Why Did The Solana (SOL) Price Jump Today?
As noted on the 8-hour timeframe chart shared on social media platform X by crypto analyst World Of Charts, SHIB has been on a consolidation channel for the past two months. However, the analyst foresees a bullish breakout to create a strong bullish wave that’s going to send SHIB holders on a profit margin between 100% and 120%.
Consolidating In Bullish Flag In H8 Timeframe Incase Of Successful Breakout Expecting Solid Bullish Wave Expecting 100-120% Bullish Wave#Crypto #Shib pic.twitter.com/vfLClaexvu
— World Of Charts (@WorldOfCharts1) May 3, 2024
Interestingly, a further look into the chart shared by World Of Charts shows that the analyst is open to a higher price surge over a longer period of time. The last price target indicated on the chart is .00009500, which is a 280% target from the current price levels.
Can Shiba Inu Push Higher?
Shiba Inu recently formed a higher low on the weekly timeframe, an indicator that the bulls might be starting to gain the upper hand. Despite the past decline, over 56% of SHIB holders remained in profit as many long-term holders opted to hold on to their tokens. At the time of writing, SHIB is trading at .00002489 and is up by 6.4% in the past seven days. This price increase has seen the number of SHIB holders in profit rising concurrently to 61%.
Related Reading: Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here
Many addresses that just moved into profit margin are not taking profit indicating that majority of investors are anticipating a price increase in May. One catalyst that could lead to a further price increase is the recent partnership between PayPal and MoonPay which will allow PayPal users within the United States to buy the dog-themed cryptocurrency easily.
Popular crypto analyst Ali Martinez also predicted a SHIB price surge based on a bull flag that has recently appeared on the token’s price chart.