TronWeekly

Crypto World News

You are here: Home / Archives for Aditya

Aditya

Chainlink Gains Ground: Dogecoin (DOGE) Faces Market Cap Competition

by

Chainlink (LINK) is steadily approaching the threshold to surpass Dogecoin (DOGE) in market capitalization as LINK maintains its remarkable ascent. Dogecoin after being hailed as the first meme coin and a pioneer in the cryptocurrency space, recently DOGE was facing a serious obstacle as it falls out of the top 10 cryptocurrencies by market capitalization. Although DOGE has previously received high praise and unexpected success, concerns have been raised about its long-term viability due to its shaky foundation and significant reliance on celebrity endorsements.

The dynamic and ever-evolving landscape of the digital currency space is exemplified by Dogecoin’s recent removal from the top 10 cryptocurrency rankings. Chainlink (LINK) is currently in the top 10, and DOGE is now positioned at the periphery. This change reflects a change in the attitudes and tastes of investors.

Chainlink
Chainlink Gains Ground: Dogecoin (DOGE) Faces Market Cap Competition 3

Dogecoin Faces Ranking Competition from Surging Chainlink

After dropping out of the top 10 ranks, Dogecoin resurfaced to its 10th position within 24 hours of losing its spot. As Dogecoin grapples with its changing position within the cryptocurrency hierarchy, analysts project a slight price uptick on Valentine’s Day which led DOGE to rise again. According to Changelly, the initial meme coin is expected to hit $0.082591, marking a 1.12% rise from its present value.

Chainlink
Chainlink Gains Ground: Dogecoin (DOGE) Faces Market Cap Competition 4

In fact, Chainlink has come as a huge surprise, and as LINK continues to increase, it is expected to surpass Dogecoin (DOGE) in market capitalization. With a market capitalization of around $12 million, LINK is now just outside the top 10. On the other hand, Dogecoin, with a $12.2 million market capitalization, is barely inside the top 10. Because of the stark difference in the momentum of the two tokens, many believe that the positions will change.

In particular, LINK is at its greatest point since 2022’s first month. Its technical indicators are still good, which lends credence to the idea that it can increase in value. It has, in fact, increased by an astounding 10% in just one week. In addition, throughout the past 30 days, such gains have increased to a startling 30%. It is currently, just one spot below Dogecoin, the 11th largest cryptocurrency by market capitalization.

Dogecoin Frenzy: 250 Million Coins Exit Robinhood as Price Hype Intensifies

by

In December 2023, the price of Dogecoin (DOGE) remained stable in the 3% range of $0.09 and $0.1, even if other mega-cap meme currencies had a comparatively good performance. Following several unsuccessful attempts to recover $0.1, Dogecoin on-chain data patterns indicated that the buying impulse among bulls is waning.

Dogecoin
Dogecoin Frenzy: 250 Million Coins Exit Robinhood as Price Hype Intensifies 7

Dogecoin’s price only increased by 0.5% between December 16 and December 23, whereas SHIB and BONK saw rises of 10% and 8%, respectively. The Aggregate Exchange Order Books chart on IntoTheBlock is an on-chain measure that effectively conveys this negative DOGE price forecast.

As of press time on December 23, retail DOGE dealers have posted active orders to SELL 720 million DOGE, according to the most recent readings from the current trading records of ten major cryptocurrency exchanges, including Binance and Coinbase.

After enduring a challenging period, Dogecoin made an unexpected comeback, surprising everyone with its resounding resurgence. Today, there was identified a large transfer of 250 million Dogecoin (DOGE), valued at around $20.67 million. The transaction has drawn attention from the digital currency world. It was sent to an unidentified wallet and originated from the well-known U.S. brokerage Robinhood.

Massive Dogecoin Exodus from Robinhood

Over the recent days, the DOGE rate had experienced a 3% decline. Looking at the daily chart, the DOGE price had breached the $0.080 threshold. As long as the rate remains below this level, sellers hold more influence than buyers. Consequently, it is foreseeable that there would be a continued descent towards $0.078 in the near future.

Dogecoin
Dogecoin Frenzy: 250 Million Coins Exit Robinhood as Price Hype Intensifies 8

But today there was a transfer discovered by Whale Alert, a service that keeps track of important bitcoin transactions, which raised questions about its significance.

Although the precise goal of the transfer is unknown, considering the scale of the transaction and Robinhood’s accessibility to regular investors, it makes sense to take institutional or high-net-worth investors into consideration for possible involvement. Even while the precise causes of the transfer are yet unknown, aficionados are keeping a careful eye on the Dogecoin price chart in hopes of finding some information.

Crypto Investment: JP Morgan Study Reveals 78% of Institutional Traders Remain Uninterested

by

The head of crypto and financial markets at Northern Trust claims that institutional investors lost interest in cryptocurrency after 2022 and that they haven’t yet regained it, despite this year’s upswing.

Earlier of last year around May 2023, At the Digital Assets Week conference in San Francisco, Justin Chapman told CNBC’s “Crypto World” that while institutions are now more interested in the blockchain technology that powers cryptocurrencies, his company “has capabilities” in place in case client interest in crypto assets increases. “Just after March the digital market went off a cliff… the client interest has definitely gone off the same cliff in terms of institutional interest in in cryptocurrencies,” he stated.

78% of institutional traders show no interest in cryptocurrencies, according to JP Morgan. The fascinating results, in fact, come from a recently published 2024 investigation. JP Morgan spoke with more than 4,000 people in the financial markets during this investigation.

Even while the number of businesses planning to use cryptocurrencies has increased, many are still averse to sharing what they own. Furthermore, compared to the figures from 2023, the percentage of traders who are not interested in interacting with cryptocurrencies has increased.

Crypto Fails to Captivate Institutional Traders

Leaders from major financial institutions convened at the San Francisco conference with a palpable enthusiasm for blockchain technology, particularly its capacity to tokenize real-world assets such as gold for clients. Commenting on this trend, Chapman noted the evolution of the technology and its increasing support from market participants.

Following a turbulent 2022 in which it lost 64%, Bitcoin has increased by about 75% this year. The start of the New Year’s trading session saw historically low levels of volatility. But the U.S. regulatory moves clouded the industry, and the banking crisis drove up the price of bitcoin, bringing volatility back to the market.

Although bitcoin has not been able to break above the $30,000 barrier, investors still believe in its long-term upward trajectory. Many people believed that 2024 will be the year of bitcoin, especially since Spot Bitcoin ETFs would soon be approved. But this anticipated upsurge has not yet occurred. Even though the value of bitcoin has surpassed $50,000, recent studies show that the enthusiastic acceptance anticipated has not occurred.

While appreciating Bitcoin’s resilience, the market is nevertheless cautiously hopeful about its near-term prospects. The disparity between what people assume and what really occurs highlights the intricate processes that are forming the bitcoin environment.

Cardano’s Valentine’s Day Serenade: Price Predictions for ADA

by

Cardano, along with other cryptocurrencies, is poised to break through supply limits as buyers lay the foundation for a surge in the months ahead. While alternative coins are garnering attention, established ones like Cardano are priming for a remarkable resurgence by 2024.

Volumes are increasing, indicating the arrival of market leaders, as the price of ADA is poised for a breakout run that is expected to blow up in February. Cardano is aiming to reach $1 in the upcoming months after resurfacing above the $0.50 barrier, coinciding with the catalytic event of the Bitcoin halving.

Let’s examine the potential peak of ADA on Valentine’s Day, taking into account the trend in the cryptocurrency market as a whole.

Cardano (ADA) Valentine’s Day Price Forecast

After peaking at $0.68, the price of the ADA token has recently seen a significant decline. On the daily chart, this decline has led to the construction of a falling wedge pattern. However the recent recovery of the cryptocurrency market following a protracted downturn has created the conditions for ADA to potentially rise.

Cardano
Cardano's Valentine's Day Serenade: Price Predictions for ADA 10

Cardano’s price on Valentine’s Day is predicted by Changelly’s cryptocurrency specialists using information from ADA’s performance earlier in 2024. Within this time frame, they see a possible price range with a minimum of $0.497 and a top of $0.586. Experts also predict that on Valentine’s Day, ADA will trade at an average price of $0.534881.

If ADA keeps up its current trend, there’s a good chance that the price will breakout higher and approach the $0.84 peak, which would be a noteworthy 25% increase. On the other hand, ADA may retest its resistance by going back to the 50% Fibonacci level if the trend turns against it.

Shiba Inu’s Shibarium Skyrockets 621% as SHIB Price Breakout Grips Market

by

Shiba Inu’s Shibarium bursts onto the scene with an astonishing 621% surge in fresh accounts, aligning with a notable breakout in SHIB’s price. In a remarkable twist of fate, Shiba Inu’s layer-2 blockchain platform, Shibarium, has experienced an unparalleled surge, indicating a remarkable 621% rise in new account engagements within a mere 24-hour period.

Insights extracted from Shibariumscan unveil a surge, escalating from 33 fresh accounts on February 6 to a remarkable 205 on February 7. This surge catapulted the overall account count for Shiba Inu’s L2 to 63,341. Such spikes in network utilization frequently hint at imminent fluctuations in the values of linked cryptocurrencies. Indeed, the upsurge in new accounts for Shibarium preceded a significant uptick in the value of Shiba Inu (SHIB).

Shiba Inu
Shiba Inu's Shibarium Skyrockets 621% as SHIB Price Breakout Grips Market 13

Shiba Inu’s Price Breakout Ignites Market Frenzy

After more than a fortnight of quiet trading marked by minimal fluctuations, the SHIB token encountered a noticeable uptick, clocking in a 3.6% surge. Though relatively modest, this upsurge signals a remarkable shift from an extended phase of inactivity, sparking enthusiasm among SHIB supporters.

Shiba Inu
Shiba Inu's Shibarium Skyrockets 621% as SHIB Price Breakout Grips Market 14

Now, the pivotal inquiry concerns the durability of this momentum and the likely repercussions of heightened activity within Shibarium on SHIB’s price trajectory. As the market anxiously anticipates additional progress, recent upsurges in both network engagement and price chart fluctuations highlight Shiba Inu’s lasting allure and its capacity to enthrall market participants.

In the dynamic landscape of the cryptocurrency market, SHIB retains its leading position, utilizing inventive approaches such as Shibarium to enrich its ecosystem and involve a growing community of advocates. Positioned squarely towards what lies ahead, holders of SHIB are prepared to meticulously observe the evolving dynamics within Shibarium and their potential impacts on the price movements of Shiba Inu.

Grayscale Loses Liquidity Edge Over Blackrock, Fidelity Bitcoin ETF: JPMorgan Analysis

by

According to JPMorgan, BlackRock, and Fidelity’s spot bitcoin, exchange-traded funds (ETFs) already possess an advantage over Grayscale Bitcoin Trust (GBTC), which holds the largest assets under management, particularly in two liquidity metrics. Despite a slowdown in outflows from Grayscale’s GBTC during the fourth-week post-approval by the U.S. Securities and Exchange Commission (SEC), JPMorgan anticipates the fund will trail behind the newly established ETFs, specifically those from BlackRock and Fidelity, unless it implements significant fee reductions, as stated in the report.

The first metric, JPMorgan’s gauge for market breadth based on the Hui-Heubel ratio, indicates substantially lower figures for BlackRock and Fidelity ETFs compared to GBTC, approximately four times less, signifying broader market coverage for these ETFs, according to the report penned by JPMorgan analysts led by Nikolaos Panigirtzoglou on Wednesday.

The second metric evaluates the deviation of ETF closing prices from their net asset value on average. Analysts note that the ETF price deviation from the net asset values of Fidelity and BlackRock’s spot bitcoin ETFs nearly mirrors that of the SPDR Gold Shares ETF in the latest week, indicating a marked improvement in liquidity. Conversely, deviations for the GBTC ETF remain higher, indicating lower liquidity.

Furthermore, the report highlights that without a reduction in GBTC fees, the fund is likely to experience more outflows and lose assets to alternative ETFs, particularly those offered by BlackRock and Fidelity.

On an another note,

Grayscale CEO Calls for Approval of Options Trading for Bitcoin ETFs

Grayscale’s CEO emphasized the benefits of options for investors, citing their role in facilitating price discovery and navigating market dynamics. In a post on Feb. 5, Grayscale CEO Michael Sonnenshein advocated for regulatory approval of exchange-listed options for spot Bitcoin exchange-traded funds (ETFs). He asserted that options offer value to investors by aiding in “price discovery and can help investors better navigate market conditions or achieve desired outcomes, such as generating income.”

An exchange-traded option represents a standardized contract enabling the purchase (via a call option) or sale (through a put option) of a specified quantity of a particular financial asset at a predetermined price (the strike price) on or before a specified date. Options trading allows investors to forecast the future movement of specific stocks, bonds, or the broader stock market. Within options contracts, traders have the freedom — though not the obligation — to buy or sell an underlying asset by a specified date at a predetermined price.

Sonnenshein highlighted that when the SEC sanctioned the first Bitcoin futures ETF in October 2021, listed options for the ETF became available for trading the following day thanks to automatic effectiveness, which allowed them to adhere to existing regulations.

Shiba Inu Tokens Necessary to Achieve a $3 Million Value if Priced at $0.01

by

Shiba Inu boasts nearly 1.3 million holders, most of whom initiated their investment journey in 2021. A significant portion of these 1.3 million investors aspire to achieve millionaire status once Shiba Inu reaches the $0.01 milestone. This aspiration stems from the remarkable success stories of early SHIB investors who amassed over $1 million after purchasing the token during its inception phase.

Within a span of fewer than 15 months from their initial investments in 2020, these early SHIB investors transformed into millionaires, igniting a desire among others to replicate such a feat. However, this surge in ambition places additional pressure on Shiba Inu, as now over a million investors seek to emulate the same phenomenon.

Shiba Inu
Shiba Inu Tokens Necessary to Achieve a $3 Million Value if Priced at $0.01 17

Nonetheless, it’s crucial to recognize that the cryptocurrency market operates independently of investors’ aspirations and expectations. While it has the potential to elevate individuals to millionaire status, it also carries the risk of financial setbacks. Therefore, it’s imperative to understand the dynamics of the market.

For those aiming to attain $3 million if Shiba Inu achieves the $0.01 mark, this article will delve into the calculation of how many SHIB tokens one needs to accumulate at present to reach this coveted financial goal.

Quantifying the Number of Shiba Inu Coins Necessary for a $3 Million Target at $0.01 per Token

Shiba Inu is presently valued at $0.00000919, reflecting a nearly 5% increase in today’s trading session. Consequently, acquiring 300,000,000 (300 million) coins at this current price is advisable for long-term holding. If Shiba Inu eventually reaches the $0.01 threshold in the future, the 300 million tokens amassed today would translate into a $3 million portfolio.

Shiba Inu
Shiba Inu Tokens Necessary to Achieve a $3 Million Value if Priced at $0.01 18

The current expenditure to procure 300 million SHIB tokens stands at approximately $2,757. In summary, to potentially achieve $3 million, an initial investment of $2,757 is required today to accumulate 300 million tokens, with the anticipation of Shiba Inu’s future appreciation to $0.01. Upon reaching this milestone, the initial investment of $2,757 holding 300 million coins would yield $3 million.

However, it’s essential to recognize that there’s no guarantee that SHIB will indeed reach the $0.01 milestone in the future. Thus, thorough research and consideration are advised before entering into SHIB investments at this juncture.

Ripple XRP: A $100 Investment Journey to $5 Million Returns

by

The XRP token from Ripple appears to be stabilizing around the $0.50 mark. Following a surge in price in July 2023, prompted by a US district court decision affirming that selling XRP to retail clients did not violate securities laws contrary to claims made by the SEC (Securities and Exchange Commission), the asset has struggled to gain significant momentum.

Ripple
Ripple XRP: A $100 Investment Journey to $5 Million Returns 22

Presently, XRP shows declines of 5.7% in weekly charts, 4.4% in 14-day charts, and 10.7% over the past month. Nevertheless, the asset has maintained a positive trajectory, being up nearly 27% since January 2023.

The Incredible Growth of Ripple XRP Investments

If $100 had been invested weekly into XRP from September 2013 until the asset reached its peak in January 2018, the total investment would have amounted to $22,700. However, the portfolio’s value would have surged dramatically to over $5.3 million, representing an astounding increase of 23,311%.

Ripple
Ripple XRP: A $100 Investment Journey to $5 Million Returns 23

Furthermore, had the $100 investments in Ripple’s XRP continued until the present day, the total investment would have reached $54,400. In this scenario, the portfolio’s value would have grown to $1.37 million, marking a remarkable growth of 2,421%.

Ripple
Ripple XRP: A $100 Investment Journey to $5 Million Returns 24

XRP, a favored currency for cross-border remittance, has garnered significant popularity. Additionally, Ripple has forged numerous partnerships with global corporations to facilitate cross-border transactions, establishing a sturdy foundation for future expansion. Nonetheless, XRP encounters a challenge with an ongoing legal dispute between Ripple and the SEC. Although a district court ruled partially in Ripple’s favor, the case has advanced to the higher courts, leaving investors awaiting a final verdict. Should the higher court’s ruling align with the district court’s decision, we may witness a surge in XRP’s price and adoption.

South Korea Takes Action Against Haru Invest Leadership

by

South Korean authorities have brought forth allegations against Haru, a crypto yield platform, indicating that it misrepresented risks to its depositors while enticing them with a lucrative 12% return. In a notable development, South Korean prosecutors announced on Monday the arrest and detention of three top executives from Haru Invest, among whom are the co-CEOs.

South Korea’s Anti-Corruption Drive

Seoul prosecutors have leveled accusations against the trio, alleging the misappropriation of approximately 1.1 trillion Korean won (equivalent to $826 million) in cryptocurrencies from roughly 16,000 users. An official from the Seoul Southern District Prosecutor’s Office confirmed these details to The Block. Additionally, it’s reported that Haru purportedly entrusted a significant portion of its client deposits to a single individual while falsely assuring investors that their funds were managed through “risk-free distributed investment techniques.” Notably, Haru Invest enticed clients with the promise of up to a 12% yield for users of its Earn Plus product.

Local authorities have been actively investigating both Haru and another crypto lender, Delio, following the abrupt suspension of withdrawals on June 14, 2023. Delio attributed the suspension to the sudden cessation of deposits and withdrawals earlier that day at Haru Invest, with whom Delio had previously collaborated. Simultaneously, Haru lodged a criminal complaint against B&S Holdings, a consignment operator, alleging deception and citing losses exceeding $260 million due to the collapse of FTX. South Korean prosecutors had previously issued an arrest warrant for an individual identified as Bang, the majority shareholder of B&S. However, due to privacy regulations in South Korea, Bang’s full name remains undisclosed.

The unfolding saga sheds light on the intricate web of alleged deceit and financial malpractice within the crypto industry. The arrest and detention of Haru Invest executives mark a significant development in the ongoing investigation into what appears to be a far-reaching and elaborate scheme. Authorities remain vigilant in their pursuit of justice amidst mounting concerns over the integrity and transparency of crypto investment platforms in South Korea and beyond.

Shiba Inu’s Record-Breaking Journey: Investor’s $5.7 Billion Earnings in 400 Days

by

During an astonishing event in 2021, a Shiba Inu investor accumulated $5.7 billion in less than 400 days, hailed as ‘the greatest trade of all time’ by the cryptocurrency community. Remarkably, this investor transformed a mere $8,000 investment during Shiba Inu‘s early days in 2020 into $5.7 billion.

In less than 400 days, the initial investment surged dramatically, illustrating the astounding potential of SHIB’s growth trajectory.

Shiba Inu’s Record-Breaking Achievement: $8,000 to $5.7 Billion in Glory

Dive into the backstory of Shiba Inu’s meteoric rise. Shiba Inu emerged onto the scene in August 2020, initially priced at a humble $0.00000000051 with 549 trillion tokens circulating. In a stroke of luck, one investor decided to invest $8,000 in SHIB shortly after its launch, unaware of the fortune that awaited. Fast forward to 2021, SHIB embarked on a remarkable journey, shedding six zeroes within 10 months from January to October.

This astonishing surge amounted to an 85 million percent increase from the investor’s initial stake in August 2020. As a result, the investor’s portfolio skyrocketed to an astonishing $5.7 billion in nearly 400 days, earning the title of ‘the greatest trade of all time.’ These returns weren’t merely life-changing but represented generational wealth beyond imagination for most investors. By November 2021, the billionaire investor began transferring funds to a different wallet and subsequently sold the majority of their holdings.

For those seeking deeper insights, exploring the SHIB billionaire’s wallet address and additional details offers a comprehensive understanding. This investor stands as the sole individual to amass billions through Shiba Inu, while only a select few managed to secure millions.

Currently, Shiba Inu is priced at $0.000008929, experiencing a decline of nearly 1% in the day’s trading. Over the past year, SHIB has been on a consistent downward trajectory, resulting in substantial losses for investors. Once hailed as the ‘golden egg’ that transformed early investors into millionaires, the dog-themed token has transitioned from a lucrative asset to one that generates losses since early 2022. Despite its price remaining below the 1-cent mark, Shiba Inu no longer holds the appeal it once did for average investors.