XRP could continue a price correction in the short term as recent price action has put it rebounding against a resistance level of $0.5. On-chain data has also revealed a row of transactions from whales of the cryptocurrency in the past 24 hours, but are they bullish or bearish on XRP? These large transactions have been a mix of both, although the trading volume of each transaction could point to them being bearish rather than bullish.  XRP Whales On The Move Large XRP transactions, often indicators of whale activity, have spiked recently. XRP has seen some major whale movements over the past few weeks that point to a bearish sentiment among big players amidst a price correction for the cryptocurrency in the past seven days. However, while some of these big transfers are going into crypto exchanges for a potential selloff, some are also anonymous wallets shifting huge amounts of tokens from crypto exchanges into private wallets. Related Reading: Crypto Expert Predicts Bitcoin Will Reach $650,000 Due To This Reason Whale transaction tracker Whale Alerts posted on social media platform X (formerly Twitter) instances of enormous transactions on April 16. The first notable transaction was the transfer of 158 million tokens worth $77 million from a private wallet into the crypto exchange Binance. This massive transfer into the exchange ignited worrying signs for holders hoping for a reversal from bearish momentum into a price surge. Similarly, there was a transfer of 28.9 million XRP worth $14.2 million into Bitstamp.  On the other hand, Whale Alerts also indicated the outflow of XRP from Binance into private wallets. Particularly, the tracker noted the transfer of 100 million XRP, worth around $48 million, into private wallets. These transfers were made with three transfers in rapid succession, with each transfer of 33.33 million XRP worth $16.2 million.  Interestingly, the tracker also noted the movement of large amounts of tokens on April 15. Overall, there were transfers of 457 million XRP worth over $234 million into crypto exchanges Bithumb, Bitvavo, and Bitstamp. The largest transaction was the transfer of 390 million tokens worth $201 million into Bithumb. What’s Next For The Altcoin? Whale transactions are very important in the world of cryptocurrencies. Prices could swing massively at any time based on the actions of a few big players. For regular XRP investors, these whale transfers highlight the volatility and uncertainty in the current price of XRP. At the same time, their movement into crypto exchanges is bearish, and they give investors a glimpse of the the altcoin’s price trajectory in the short term.  Related Reading: Arkham Releases Top 5 Crypto Rich List – You Won’t Believe How Much Is Inaccessible At the time of writing, XRP is trading at $0.4986. Although currently up by 1.79% in the past 24 hours, XRP seems to be reversing after hitting $0.5 again. The altcoin is still in a price correction on the larger timeframe, as it is currently down by 18% and 20% in the past seven and 30 days, respectively. According to a crypto analyst, XRP is set to go on a massive rally to $22. Additionally, many experts believe that the price of the altcoin will experience an enormous price increase after the next Bitcoin halving. Price struggles to find support tat $0.49 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin news, chart from Tradingview.com

ApeCoin (APE), the ERC-20 token governing the ApeCoin Decentralized Autonomous Organization (DAO), showed notable growth in the first quarter (Q1) of 2024.  Key metrics showed significant progress, driving APE’s market capitalization, token price, and trading volume quarter-over-quarter (QoQ), demonstrating consecutive quarters of growth. ApeCoin Regains Unicorn Status As noted in a recent report by Messari, APE’s rebound was particularly noteworthy compared to the broader cryptocurrency market, which grew 53% quarter over quarter, and Bitcoin’s market cap, which grew 63% quarter over quarter.  After briefly dipping below $1 billion in Q2 2023, APE’s market cap regained unicorn status, ending Q1 2024 at $1.3 billion, representing 31% growth. According to the report, this market value increase was partly driven by a 21% QoQ rise in APE’s token price. Related Reading: Crypto Analyst Says Don’t Buy Altcoins Just Yet – Here’s Why The report also highlighted the unlock of 46.8 million APE tokens from the circulating supply, contributing to the market cap growth. However, this unlocks, and the $16.5 million allocated to governance expenditures potentially created sell pressure on the asset throughout the quarter.  Another 46.8 million APE tokens were unlocked in Q1 2024, with 22 million APE going to the DAO Treasury and 24.8 million APE distributed to non-DAO entities. The DAO plans to issue or sell APE to fund approved proposals, while non-DAO entities are free to sell once their funds are unlocked. Despite the additional sell pressure resulting from unlocking and committing 8.3 million APE tokens, the price of APE still saw a substantial 21% QoQ increase. This surge in price indicated a higher volume of buy orders, exerting upward pressure on the asset. The report also analyzed trading activity, highlighting the dominance of large-volume traders (whales and sharks), who accounted for 63% of the trade volume in Q1. The average decentralized exchange (DEX) swap size increased by 28% QoQ, reflecting the heightened activity among larger-volume traders.  Furthermore, the transfer volume of APE tokens grew by 12% QoQ, potentially driven by significant transactions following the approval of various governance proposals throughout the quarter. APE’s Journey Forward Looking ahead, APE’s utility is set to expand by implementing recently passed governance proposals. AIP-381 aims to build game-focused DAOs and vaults accessible exclusively to APE holders, allowing them to participate in governance and access specific ecosystem assets.  Additionally, the ApeChain proposal selected Horizen Labs to build a blockchain that utilizes APE as a gas token and potentially supports other asset-related applications. However, while APE continued to attract new holders, the growth rate of new APE holders did not accelerate despite two consecutive quarters of price increases, according to Messari.  To address this, ApeCoin DAO formed a branding partnership with a Formula One racing team, among other initiatives, to attract new holders in the future. Related Reading: Crypto Analyst Unveils Top 10 BTCfi Altcoins Post-Halving On the other hand, the ApeCoin DAO has been actively voting on new governance proposals, approving the building of ApeChain on the Arbitrum technology stack and expanding the utility of the APE token to GameFi DAOs and vaults.  The average votes per proposal increased by 19% QoQ, indicating growing community engagement. ApeCoin DAO plans to move the voting process on-chain more, promoting decentralization and participation in governance. Despite the overall growth witnessed by APE in Q1, the token has recently experienced a significant downturn, aligning with the downward trend in the overall market. APE has suffered a notable decline of over 41% in the past month, leading to its current trading price of $1.148. Featured image from Shutterstock, chart from TradingView.com

Roger Stone, a seasoned Republican political strategist, lobbyist, and former adviser to Donald Trump’s campaign, has endorsed the meme coin TRUMP on X, sparking a 17% increase in its value amid a wider downturn in the cryptocurrency market. Meanwhile, the meme token BODEN experienced a 9% uptick against the U.S. dollar over the last 24 […]

Many investors expressed worries about the crypto market corrections during this cycle. Bitcoin’s price drop has dragged altcoins with them, and, as a result, a more pessimistic sentiment has started to brew among some sectors of the crypto community. Analysts and traders have reassured investors that the market fluctuations are a normal part of the journey. Some urge the community to look at the bigger picture, as altcoins remain above levels not seen in years. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment “Down”? Renowned crypto analyst Altcoin Sherpa weighed in on the matter, exploring some of the reasons and differences that make this bull cycle different from the 2020s. Time For An Altcoins Cool-Off? In an X post, Altcoin Sherpa asserted that there’s a high possibility “that altcoins are done for the next 1-4 months.” The analyst considers that, right now, most of the market needs “time to chill out and consolidate after such a big run.” Despite recently falling below the $1 trillion market capitalization, altcoins have performed remarkably in the last few months. In 2024, cryptocurrencies’ market cap, excluding Bitcoin’s, has increased by 22.79%, according to TradingView data. Altcoins market cap has also considerably surged in longer timeframes, with a 91.31% and 52.46% jump in the last six months and the past year. This “big run,” as Sherpa called it, sits the cryptocurrency market at levels like those seen in 2022. However, what worries the crypto analyst is, despite the overall performance, “many alts didn’t even run that hard over the last few months.” He illustrated his point with Chainlink’s native token, LINK. Despite the +500 days of accumulation, LINK investors only got 3-4x gains depending on when they go in. Now, the token’s price is “strongly pulling back.” Expectations for altcoins during this cycle seemingly play a significant role in the current sentiment. As one X user pointed out, LINK was anticipated to be one of the biggest winners of this cycle, Sherpa replied that he “expected more lol.” The user playfully commented, “No dino coins and new and shiny coins are the better bet.” How Did The Market Change? The previous comment highlights what appears to be a significant difference between this bull run and the 2020s. Choosing your bag has become more difficult since the market has expanded significantly. Sherpa considers that “now more than ever, it is super important to choose the altcoins that are going to run hard.” In 2020, the massive altseason made “everything go up consecutively.” This time, the liquidity is more fragmented, and “only a few sectors are pumping.” The AI and memes sectors have been the hottest topic in 2024, and layer-1 (L1) tokens, like SEI, have also performed well. “Everything else? Not great,” remarked Sherpa. The massive number of tokens, both newly launched and old ones, are finding it more difficult to “capture mindshare/attention.” Regarding retail investors, the analyst is not surprised that the default choice is memecoins instead of “trying to learn about some DeFi veRewards type of stuff. Or Oracle or L1s or modular or anything else.” The analyst suggested investors “move to real value” like ETH and SOL. He also considers that big token launches, with significant money behind them, “have some real value.” These coins, as stated in the post, have the potential to “do very well” once Bitcoin stabilizes. Sherpa’s market analysis closes with a “pretty bearish” outlook for the following months. The growing difficulty in keeping user attention and “for people to become strong users/community members” for many projects has made the market a different playground. Ultimately, the analyst pointed out that “portfolio rebalances are necessary” and said he still believes this run is not over. Related Reading: Crypto Analyst Says Don’t Buy Altcoins Just Yet – Here’s Why Altcoins market cap sitting at $981 billion in the weekly chart. Source: TOTAL2 on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

The 2024 Bitcoin halving is only two days away, and there are already varying expectations of what might happen to the BTC price once the event is completed. One way to get an idea of how it could play out for the Bitcoin price, though, is through historical data and how the cryptocurrency has performed at times like these. Bitcoin Price Trends For Previous Halvings There have been three halvings so far since Bitcoin was first launched in 2009 and with each one, Bitcoin has demonstrated various reactions to the event. The first halving took place on November 28, 2012, the second happened on July 9, 2016, and the last one was on May 11, 2020. Related Reading: Arbitrum’s Massive $107 Million Token Unlock Threatens To Send Price Below $1 For the purpose of this report, only the last two halving will be referenced given that adoption had began to climb at the time that these two happened. The 2016 halving happened when Bitcoin was trading around $650, but in the weeks following the halving, the BTC price would drop another 30%, reaching as low as $460 before climbing back up once again. BTC price crashed 30% post-halving in 2016 | Source: Tradingview.com Then, during the 2020 halving, the BTC price was trending just under $10,000, and following the halving, would see a drop in price as well. However, this drop was not as significant as the 2016 drop, with the BTC price only falling around 15% during this time. BTC price crashed 15% post-halving in 2020 | Source: Tradingview.com This has formed quite a trend with the halving, where the Bitcoin price falls after the event, which is expected to be bullish. Therefore, if this trend continues, then BTC could see a sharp drop in price despite the expectation that the halving will be bullish for price. However, it is important to consider that subsequent halvings have seen a lower post-halving crash compared to their predecessors. So, if this holds this year, Bitcoin could still be looking at a crash but to a much lesser degree. For example, the 2020 post-halving crash was half of the 2016 post-halving crash, so holding this trend, the crash this time around could only be an around 7-8% crash. BTC Deviates From Established Halving Trends While the historical data does suggest where Bitcoin could be headed following the crash, it is also important to note that the digital asset has deviated from a number of pre-halving trends. One of these deviations is the fact that the Bitcoin price hit a new all-time high before the halving, something that has never happened before. This could suggest that there will be a complete deviation from these established trends, meaning that a crash may not follow the halving after all. Related Reading: XRP Price Set For 3,000% Rally To $22, Analyst Predicts Another deviation is that the few weeks leading up to the last two Bitcoin halvings have been green. However, in 2024, the last three weeks leading up to the halving have been red as the BTC price has been in decline. This also lends credence to the fact that there could also be a deviation from its post-halving trends. One thing to keep in mind though, is that the crypto market has always been uncertain and Bitcoin has a habit of doing what no one expected. The Bitcoin Fear & Greed Index has seen a pull back from the extreme greed territory, but it continues to remain in greed, which means investors are still bullish. In this case, if Bitcoin were to do the opposite of what is expected, then it could follow the established trend and crash back down. BTC deviates from pre-halving trend | Source: BTCUSD on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com

U.S. spot bitcoin exchange-traded funds (ETFs) experienced three consecutive days of net outflows, with a loss of $58 million on Tuesday. Leading the outflow for the day was Grayscale’s GBTC. After Another Day of Outflow, IBIT Nears GBTC as Potential Leader in Spot Bitcoin ETF Market Grayscale’s GBTC continued to report reductions in its bitcoin […]

Recent data reveals that over 27% of all ether, amounting to 32,472,720 ethereum, is currently staked, as interest in this activity has heightened significantly within the past year. Liquid staking derivative (LSD) protocols have locked in more than $40 billion, with Lido Finance holding $28.77 billion of that sum. Staking Captures 27% of Ethereum Supply; […]

Cryptocurrency exchange and trading platform, Bybit has released a new report highlighting the impacts of the upcoming Bitcoin halving event on the supply dynamics of Bitcoin within exchanges in the crypto space. The crypto firm has provided valuable insights on how the halving event would enhance scarcity and considerably influence the price of BTC.  Exchanges Set To Face Bitcoin Supply Crunch On Tuesday, April 16, Bybit published a new report, providing a detailed analysis of the Bitcoin halving event set to take place this month. The crypto firm disclosed that the Bitcoin reserves within the world’s crypto exchanges have been depleting at a rapid pace, leaving only nine months of BTC supply left on exchanges.  Related Reading: Arbitrum’s Massive $107 Million Token Unlock Threatens To Send Price Below $1 For a clearer perspective, Bybit explains that with just two million Bitcoin left in its total supply, a daily influx of $500 million into Spot Bitcoin ETFs would result in approximately 7,142 BTC leaving exchanges daily. This suggests that it would take only nine months to completely consume all of the remaining BTC reserves on exchanges.  Bybit has stated that a major contributor to this supply squeeze would be the upcoming Bitcoin halving event, which would reduce the cryptocurrency’s total supply by 50% by cutting Bitcoin miners’ rewards in half.  The crypto exchange has also disclosed that after the halving event, the sell-side supply of BTC flowing into Centralized Exchanges (CEXs) will become grossly reduced. Additionally, Bitcoin’s “supply squeeze will ostensibly be worse.” BTC To Become “Twice As Rare As Gold” In its report, Bybit compared Bitcoin’s supply after the halving event with that of gold. The crypto exchange revealed that Bitcoin was steadily growing to become one of the safest investment choices, even for the most seasoned and sophisticated investors within the crypto space.  According to the exchange, the Bitcoin halving event would significantly impact the cryptocurrency’s scarcity factor, making it an even rarer asset than gold.  Basing this analysis on the Stock-to-Flow (S2F) ratio, Bybit disclosed that Bitcoin’s S2F ratio is around 56 currently, while gold’s ratio is 60. After the halving event this April, Bitcoin’s S2F ratio is projected to increase to 112.  Related Reading: Arkham Releases Top 5 Crypto Rich List – You Won’t Believe How Much Is Inaccessible “Each Bitcoin halving sharpens the narrative of Bitcoin as not just a currency, but a scarce digital asset, akin to digital gold. This upcoming halving in 2024 will thrust BTC into an era of unprecedented scarcity, making it twice as rare as gold,” the Co-founder and CEO of Bybit, Ben Zhou stated.  While highlighting the significance of Bitcoin’s rarity following the halving event, another report also disclosed that the price of Bitcoin would experience significant upward pressure post-halving. This suggests that BTC’S supply squeeze could potentially propel its price to new heights during this period.  Furthermore, the report revealed that several crypto analysts predict that the post-halving increase in Bitcoin’s price would be less remarkable than the early pre-halving surge which saw the price of Bitcoin hitting new all-time highs of more than $73,000. BTC price drops below $63,000 | Source: BTCUSD on Tradingview.com Featured image from Analytics Vidhya, chart from Tradingview.com

In a compelling forecast for Bitcoin, Ali Martinez, a well-known cryptocurrency expert and trader, has pointed out a possible development that could propel the crypto asset’s price to the $86,000 threshold in the foreseeable future. Bitcoin Movement Determined By Key Levels The analyst’s positive perspective highlights the possibility of a large upward shift in the price trend of Bitcoin, igniting interest and speculation in the cryptocurrency space.  Ali Martinez’s analysis primarily focuses on several key support and resistance levels, of which a break out from these levels will determine the future trajectory of Bitcoin.  Related Reading: Are The Odds In Bitcoin Bulls Favor? These Analysts Forecast BTC’s Future According to the expert, it appears the digital asset has been gathering momentum in a parallel channel. As a result, the $61,000 mark becomes the most significant support level, while the $72,400 mark becomes the most crucial resistance level. Martinez affirms that Bitcoin might plummet toward the $56,200 and $51,600 range if it manages to surpass the aforementioned support level. However, should it break out from the $72,400 resistance zone, $79,000 and $86,000 are the next price targets to expect. Considering the UTXO Realized Price Distribution (URPD) chart, Martinez notes that $62,000 also proves to be an important support area for Bitcoin. If this level is lost, attention might move to the following significant demand region, which is situated around $51,500. On the other hand, the likelihood of the bull run rekindling would be largely increased should there be a rise back above $66,250. This suggests a new wave of confidence and enthusiasm from market investors and players. Martinez has also identified a notable shift in the accumulation trend score for Bitcoin lately. Specifically, the recent development marks the first time it has happened in six months, and it is now pegged at 0.27. This change suggests that BTC whales might be selling off their holdings rather than hoarding the crypto asset even more. Interest From ETF Investors To Impact Price Substantially Despite the negative performance of BTC lately, several analysts still believe the coin is headed for unprecedented heights. Crypto expert Willy Woo recently made a bold forecast, putting his price target at $650,000 at the bull market top and $91,000 at the bear market bottom. Related Reading: Bitcoin ETF Issuers Push Holdings To 4.27% Of BTC Supply Amid Crash To $61,000 Willy Woo expects the coin to top out at this level when ETF investors have completely deployed their capital based on asset manager recommendations. Furthermore, Woo stated that while these figures are quite cautious, Bitcoin will surpass the gold cap after ETFs have served their purpose. “Gold went on a 12-year bull run when its ETF was approved, now it is Bitcoin’s turn,” he added. In the last day, the price of Bitcoin has fluctuated between a low of $62,000 and a high of $66,000, ultimately concluding around $63,000. Its daily trading volume has decreased by 20%, indicating a declining intreest from traders. Featured image from iStock, chart from Tradingview.com

The cryptocurrency market contracted by nearly 2% on Wednesday, descending to a total value of $2.23 trillion. Bitcoin reached a daily low of $60,760 per unit, while ether declined to $2,944 per coin. Cryptocurrency Market Loses More Than $400 Billion in a Week Amidst Severe Volatility Since the previous week, the crypto market has experienced […]

As the community prepares for the much-anticipated fourth halving set for April 19, 2024, the buzz around Bitcoin-based projects is reaching a fever pitch. Crypto influencer Leshka.eth, with a following of over 128,500 on X (formerly Twitter), has identified a set of altcoins under the Bitcoin financial ecosystem (BTCfi) that could see significant gains post-halving. Crypto Analyst Shares His Top-10 BTCfi Altcoins Leshka.eth told his 128,500 followers on X (formerly Twitter) about the potential of various projects in the BTCfi landscape. He remarked, “The countdown to BTC halving ends in 2 days. If you missed 1,000x on BRC20 and Ordinals, if you missed 800x on STAMP, check out my watchlist of BTCfi altcoins poised to surge because of the halving.” Here’s a breakdown of the top altcoins Leshka.eth believes could benefit from the upcoming Bitcoin halving: 1. Hulvin (HULVIN): This project is touted as the first halving-themed memecoin with the slogan “Make Halving Great Again.” Initially mentioned by Leshka.eth when it was valued at a $9 million market cap, Hulvin has seen an impressive ascent, crossing a $30 million market cap. “I first mentioned it when it was at $9M market cap. Today it surpassed $30M MC and outperforming all other tokens on the market. Still much space for a price discovery,” Leshka.eth highlighted. The coin currently trades at $0.01298 with a daily volume of $5.8 million. 2. Map Protocol (MAP): Designed to simplify cross-blockchain transactions using light clients and zero-knowledge (ZK) proofs, MAP Protocol operates without relying on trusted third parties. It facilitates secure peer-to-peer connections and emphasizes compatibility across different blockchains. Currently, MAP is trading at $0.0248 with a $107 million market cap and a 24-hour trading volume of $3.2 million. Leshka.eth views it as a crucial infrastructure component for the evolving blockchain ecosystem. 3. Stacks (STX): As a layer built on top of the Bitcoin blockchain, Stacks introduces functionalities such as smart contracts, decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). It is often compared to the Lightning Network due to its extension of Bitcoin’s capabilities. Related Reading: Crypto Expert Predicts Bitcoin Will Reach $650,000 Due To This Reason With a substantial market cap of $4.04 billion and a price of $2.29, Stacks represents a significant part of the BTCfi landscape. “Stacks transforms Bitcoin from a digital gold into a more expansive ecosystem capable of supporting a wide array of applications,” Leshka.eth noted. 4. Mintlayer (ML): This layer 2 solution enhances Bitcoin’s functionality by enabling DeFi, smart contracts, atomic swaps, NFTs, and dApps directly on the Bitcoin network. Trading at $0.38 with a market cap of $24 million and a daily volume of $2.5 million, Mintlayer stands out for its integrative approach to extending Bitcoin’s utility without the need for an entirely separate blockchain. 5. SatoshiSync (SSNC): Collaborating with LayerZero and Chainlink, SatoshiSync offers a toolkit for easing transactions on Bitcoin’s L1 and L2 layers. Even before its token launch, the platform had attracted over 50,000 users, underscoring its practical value. SSNC is priced at $0.1275, with a market cap of $124.7 million and modest daily transactions amounting to $0.45 million. 6. Bitcoin Virtual Machine (BVM): BVM is a rapidly growing Layer 2 solution for Bitcoin that allows users to create their own L2 networks, thereby enhancing the value of BVM tokens. The BVM team is also planning to introduce airdrops for BVM stakers, which Leshka.eth believes could “drive up demand for the tokens significantly.” BVM is currently trading at $5.35, with a market cap of $133.6 million and a 24-hour volume of $2.74 million. Related Reading: Arkham Releases Top 5 Crypto Rich List – You Won’t Believe How Much Is Inaccessible 7. Naka Chain (NAKA): Positioned as a cost-effective, high-speed Bitcoin L2 blockchain tailored for DeFi applications that utilize Bitcoin for gas fees, Naka Chain enables developers to port decentralized apps from Ethereum to Bitcoin with minimal changes. It functions similarly to the Ethereum Virtual Machine (EVM), enhancing its appeal. NAKA is trading at $0.026, with a market cap of $56.32 million and a daily volume of $128,000. 8. Elastos (ELA): Elastos aims to construct a blockchain-driven version of the internet, addressing scalability and flexibility issues found in Ethereum and other DApp platforms. With a market cap of $81 million and trading at $3.69, ELA focuses on building a robust infrastructure for a decentralized internet. 9. MVC (SPACE): This public blockchain integrates multiple technologies, including the UTXO model and Proof of Work (PoW), to deliver exceptional performance, minimal fees, and high decentralization. SPACE trades at $17.59 with a market cap of $52.3 million and a 24-hour volume of $1.31 million. 10. Photon: Touted as a superior traditional Layer 2 solution, Photon leverages the security of Bitcoin’s Layer 1 to support scalable decentralized applications, providing efficiency and flexibility comparable to Ethereum’s ecosystem. This project is one to watch, with its upcoming launch expected to attract significant attention. “Keep an eye out for its upcoming launch!,” Leshka.eth stated. 11. Additional Mention – BounceBit: BounceBit is a Bitcoin staking chain that allows users to earn yields on their dormant Bitcoin. With a focus on early access, the platform encourages active participation and utilization of Bitcoin for staking purposes. The imminent launch of BounceBit is highly anticipated by the community. At press time, Stacks (STX) was trading at $2.29, down 40% from its all-time high reached on April 1. Featured image created with DALL·E, chart from TradingView.com

Crypto analyst Crypto Banter has provided insights on whether or not it is the right time to buy altcoins. Specifically, the analyst had reservations about the idea that it was best to buy altcoins that showed quick recovery after a market decline like the one experienced over the weekend. Not The Best Time To Buy Altcoins In a live video on his YouTube channel, Crypto Banter warned crypto investors against “sheepishly” buying altcoins, especially crypto tokens that recovered quickly after the flush. He claimed that anyone who buys these tokens might fall into a “classic trap.” To avoid this trap, he advised that it might be best not to buy these altcoins now despite their impressive recovery so far.  Related Reading: XRP Price Set For 3,000% Rally To $22, Analyst Predicts Crypto Banter made these statements based on his belief that the bearish sentiment isn’t over and that there will still be a lot of “tensions” in the market.  Therefore, he noted that the best strategy to deploy in investing at this point is to use dollar cost average (DCA) in altcoins that have shown strength while being wary of the ones with bad tokenomics.  He again warned against investing in altcoins that have recovered quickly, stating that this doesn’t mean those crypto tokens have “relative strength.” He further elaborated that to gauge the relative strength of a crypto token, one has to look at how much it dropped and how much it recovered after that.  How To Make Your Buy List Crypto Banter also provided a guide that crypto investors could follow when compiling an altcoin buy list. He suggested that the key was to choose between the altcoins that have recovered the quickest and are showing relative strength and the ones that are relatively still cheap.  He gave the example of Ondo (ONDO) as one crypto token that has shown relative strength. Although it experienced a drawdown of 47%, it has recovered and is now just about 6% down from its peak. Toncoin (TON) also falls under this category, as he showed how the crypto token dropped down over 30% recently but has already recovered and is just 9% from its peak.  Related Reading: Crypto Expert Predicts Bitcoin Will Reach $650,000 Due To This Reason On the other hand, he highlighted RUNE as a “really cheap” crypto token, as it is down about 52% from its peak. He added that RUNE also happens to be a good recovery token. Crypto Banter also mentioned Arweave (AR) as another quality and cheap token, noting that it is about 41% down from its peak, meaning that one could get a good bargain from it.  Meanwhile, he added crypto tokens that have been unaffected by the dips as the third category of tokens that crypto investors could add to their buy lists.  Total market cap continues to drop | Source: Crypto Total Market Cap on Tradingview.com Featured image from Coinposters, chart from Tradingview.com

On Wednesday, Ord.io, the Ordinals explorer, announced a $2 million pre-seed funding achievement to pioneer the expansion of Runes. Leonidas, the founder of Ord.io, stated that the startup is strategically positioning itself to “serve the next generation of bitcoiners.” Ordinals Explorer Ord.io Receives $2M Boost In 2024, a significant number of startups connected to the […]

In the ever-volatile landscape of the cryptocurrency market, recent days have seen a surge in turbulence, with Bitcoin and leading altcoins struggling to maintain stability. Among them, MATIC, the native token of Polygon, hasn’t been immune to the downward pressure, experiencing a drop of nearly 2% in the past 24 hours alone. Related Reading: Elon Musk Latest Tweet: How Much Did Dogecoin Gain From It Today? As of the latest data, MATIC is trading at $0.69, marking a 21% decrease compared to the previous week. Source: CoinMarketCap MATIC: Whales Seize The Opportunity Despite the market downturn, some seasoned investors are viewing this as an opportunity to stockpile MATIC at lower prices. Large holders, colloquially known as whales, have been particularly active during this period of volatility. Notably, there has been significant accumulation of MATIC by whales, with one notable investor scooping up nearly 2 million tokens. This trend of accumulation is further evidenced by an uptick in the number of wallets holding substantial amounts of the altcoin, ranging from 1,000 to 10 million coins. Which #altcoins did whales buy after the market dropped? We noticed a fresh wallet withdrew $17.43M #altcoins from #Binance in the past 3 hours, including: 48,922 $AVAX($1.86M) 621,003 $FET($1.45M) 5.14M $GRT($1.44M) 1.9M $MATIC($1.41M) 532,444 $OP($1.29M) 135,751 $RNDR($1.26M)… pic.twitter.com/peeRi3E3nR — Lookonchain (@lookonchain) April 15, 2024 Additionally, large transactions worth more than $100,000 have increased significantly, indicating a concerted effort by whales to buy the dip. Total crypto market cap is currently at $2.231 trillion. Chart: TradingView Bullish Sentiment Prevails Among Whales Whales remain steadfast in their bullish outlook for MATIC. Data shows that more than half of all whale positions for the crypto on Binance are long. This suggests that large investors are confident in the token’s potential for a short-term rebound. Their optimism is rooted in their belief in the underlying fundamentals of MATIC and its role within the Polygon ecosystem. However, amidst the backdrop of price volatility, there has been a surge in negative commentary surrounding the coin. The Weighted Sentiment indicator reflects an increase in bearish sentiment, potentially influencing retail investors’ participation. Source: Santiment Negative discourse, particularly on social media platforms, can have a significant impact on market sentiment and investor behavior. Retail investors, often swayed by discussions and sentiment online, may be cautious in their approach to MATIC amidst the prevailing negativity. Related Reading: Analyst Keeps Faith In XRP, Targets $288 Despite Price Retreat Furthermore, Santiment’s data analysis corroborates the uptick in whale activity and accumulation of MATIC during the market downturn. Santiment’s insights provide additional context to the trends observed in whale behavior, offering valuable information for market participants. While the cryptocurrency market grapples with uncertainty and price fluctuations, MATIC stands out as a focal point of activity. Whales are leveraging the market downturn to accumulate MATIC, expressing confidence in its future prospects. Despite challenges posed by negative commentary, the bullish sentiment among whales underscores the resilience of MATIC within the broader crypto landscape. Featured image from Pexels, chart from TradingView

As bitcoin’s price action shows signs of continued bearishness, the digital currency’s trading volume and market capitalization suggest a volatile but keenly watched market. Bitcoin Bitcoin’s (BTC) current trading price of $62,891 to $63,075 per unit underscores a market grappling with uncertainty, reflected in an intraday trading range between $61,773 and $64,414 over the last […]