Justin Sun implements 100% onchain buyback for SunPump

Justin Suns SunPump community abandons LP token burning in favor of a more transparent onchain buyback and burn process.

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Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy

Render has shown a sharp jump of more than 23% during the last week as on-chain data shows the large hands have continued to buy. Render Has Enjoyed Bullish Momentum Over The Past Week The cryptocurrency sector as a whole has witnessed an uplift recently, but Render has been among the altcoins that have really stood out from the rest. Whereas Bitcoin (BTC) and Ethereum (ETH) have only seen weekly profits of around 3% and 9%, respectively, RENDER has shown an impressive 23% jump. Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear? The below chart shows how the recent performance of the asset has been like. Following this sharp growth, Render’s price has now neared the $6.5 mark for the first time in four weeks. In terms of the market cap, the asset has seen its valuation touch $3.3 billion, placing it at the 29th place on the top cryptocurrencies list. The coin is now chasing Pepe (PEPE), which is the 28th largest asset in the sector with a market cap of around $3.9 billion. Though, considering the 18% difference in their valuations, it wouldn’t be an easy task for RENDER, especially since PEPE generally shows a notable rise of its own when the market goes up. As for what could be behind the latest growth that the cryptocurrency has enjoyed, perhaps on-chain data can provide some hints. Sharks & Whales Have Been Busy Buying The Token Recently According to data from the on-chain analytics firm Santiment, the Render sharks and whales have participated in some considerable accumulation during the last eleven weeks. The indicator of relevance here is the “Supply Distribution,” which tells us about the amount of supply that a given wallet group on the network is holding right now. In the context of the current topic, the cohort containing addresses who own at least 100,000 tokens is of interest. At the current price of the coin, this cutoff is equivalent to just under $650,000, which is a significant amount. As such, this group corresponds to the large hands of the market, popularly known as the sharks and whales. Below is the chart shared by the analytics firm, which shows how the Supply Distribution for these investors carrying 100,000+ coins has changed over the last few months: From the graph, it’s apparent that the supply held by the Render sharks and whales has witnessed a considerable increase over the last eleven or so weeks. More specifically, these investors have added 20.54 million tokens to their wallets, equivalent to 3.7% of the total supply. Related Reading: Bitcoin Correlation With Gold Now At Highest Level Since March The buying spree from this cohort has continued during the latest price surge and thus, could be at least a factor behind why it has taken place. Featured image from Dall-E, Santiment.net, CoinMarketCap.com, chart from TradingView.com

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Terraform Labs may close products, services in bankruptcy wind-down

Get it before Oct. 30, Terraform Labs tells the third parties it is discussion its wind-down with.

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How to Exchange SKALE (SKL): Step-by-Step Guide

How to convert Skale (SKL) crypto: Go to StealthEX, choose the pair you would like to swap, provide your SKL crypto address, send the deposit, and receive your coins.

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ETH trader turns $87K into almost $40M after 8-year hold

The Ether whale started selling tokens on Sept. 16, with over $38 million in ETH still in its wallets. 

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NFTs show signs of life as weekly volumes turn positive

NFT sales volumes have rebounded across major blockchains, and Polygon has taken the lead with a 123.20% increase. 

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Bitcoin Recovers To $61,000, Here Are The Possible Reasons

Bitcoin has made a recovery back towards the $61,000 level during the past day. Here are the factors that could be behind this surge. Bitcoin Has Made Some Recovery During The Last 24 Hours After showing lackluster price action under $60,000 during the past few days, Bitcoin has finally shown some momentum in the last 24 hours, with its price surging by more than 4%. Related Reading: Bitcoin Holders Now Doing Loss-Taking: Sign That A Turnaround Is Near? The chart below shows how the cryptocurrency’s recent trajectory has looked like. At the peak of this rally, BTC had broken above $61,400, but the asset has since seen a pullback. Nonetheless, even after the drawdown, BTC is still trading around $60,800, which is a notable improvement over yesterday. As for what could be behind this surge, perhaps on-chain data can provide some hints. BTC Has Seen Multiple Positive On-Chain Developments Recently There are a couple of developments that have occurred in the cryptocurrency space recently that could be positive for Bitcoin. First, according to data from the on-chain analytics firm Santiment, BTC investors carrying between 100 and 1,000 BTC have made a considerable buying push during the last six weeks. At the time Santiment had shared the chart (which was yesterday), the Bitcoin investors with 100 to 1,000 BTC had held a combined 3.97 million tokens. Out of this, 94,700 coins were bought by them within the past six weeks. The cohort with wallets in this range is popularly known as the “sharks.” Along with the whales, the sharks are considered the key investors in the market, due to the considerable scale of coins that they hold. Thus, the fact that these large investors were accumulating while BTC had been struggling earlier shows that big money was confident that the cryptocurrency would turn itself around. The other positive development has been the uptrend that the supply of Tether (USDT) has been showing recently, as analyst Ali Martinez has pointed out in an X post. Investors generally use stablecoins like Tether whenever they want to escape the volatility associated with assets like Bitcoin. Such investors who store their capital like this, however, eventually plan to venture back into the volatile coins, so the supply of the stablecoins may act as a store of dry powder available for deploying into BTC and others. Related Reading: Bitcoin Still In A Bull Market, Quant SaysHeres Why Naturally, when investors do swap their stables for these assets, their prices observe a bullish boost. With Tether’s supply having seen a sharp jump recently, the investors’ potential purchasing power could be considered to have gone up. This could have happened through two processes: a rotation of capital from Bitcoin and other cryptocurrencies, and fresh capital inflows. The former would imply investors have sold their volatile coins for now, but as mentioned before, these investors may buy back into the market in the future. The latter would be entirely bullish, as it would mean there is fresh interest entering into the space. In reality, both of these likely occurred to some degree and as Bitcoin has managed to find a rebound, it’s possible new capital inflows have made up for more of the increase. Featured image from Dall-E, Glassnode.com, Santiment.net, chart from TradingView.com

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Ethereum To Remain Under Bearish Pressure As Taker Buy/Sell Ratio Drops

Amidst the general financial market crash in early August, Ethereum (ETH) lost about 30% of its value, falling to $2,226 per unit. Notably in the last few weeks, the prominent altcoin has shown much resilience climbing back into the $2,600 price region. Albeit, this recent price retracement is accompanied by much uncertainty on how long Ethereum can sustain such upward momentum. Commenting on this dialogue, CryptoQuant analyst ShayanBTC has postulated that Ethereum may likely resume its bearish course. Related Reading: Ethereum Price Wobbles As Inflation Sees 210,000 Added To Circulation Ethereum Price To Suffer From Sellers’ Dominance  In a QuickTake post on Saturday, ShayanBTC shared that the Taker Buy/Sell Ratio indicated that Ethereum may be set for more price loss in the coming days. To explain, the Taker Buy/Sell Ratio is an analysis tool that gauges the balance between aggressive buying and selling activity. It is calculated based on the volume of taker buy orders and taker sell orders.  As common with other indicators, a Taker Buy/Sell ratio above one suggests there is an upward market momentum with more aggressive buyers than sellers and a ratio below one represents a downward market pressure with the opposite scenario. According to ShayanBTC, after recently failing to surpass the $3000 price resistance, Ethereums Taker Buy/Sell Ratio declined drastically as evidenced by the assets price movement. As expected, the metric also experienced a rebound following ETHs recent price gains. Albeit, the Taker Buy/Sell Ratio could not rise above 1 staying in the zero region, which indicated a lack of sufficient buying pressure allows the sellers to retain market control. However, ShayanBTC reports that the TakerBuy/Sell Ratio has once again declined indicating that sellers are preparing to offload their assets, potentially causing an Ethereum price fall. The analyst calls for caution, stating that the ETH market will require a massive rise in demand to avoid resuming the downward price movement. Related Reading: Brace For Impact: Ethereum Price Could Plunge To $1,200 In December, Says Expert ETH Price Overview According to data from CoinMarketCap, Ethereum currently trades at $2,610 reflecting a minor 0.61% gain in the last day. However, the assets performance on larger time frames is still unimpressive with a decline of 23.93% in the last month. With persistent gains, the most prominent altcoin is set to encounter an early resistance at the $2,700 price region. If buying pressure proves sufficient, ETH could move past this barrier rising as high as $3,000. On the other hand, a massive selling pressure as indicated by the Taker Buy/Sell ratio can force the assets price as low as $2300. Featured image from Adobe Stock, chart from Tradingview

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Why is Solana's Dogwifhat (WIF) memecoin crashing?

WIF price risks declining by another 48% due to the formation of a classic bearish reversal setup.

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Why is Solanas Dogwifhat (WIF) memecoin crashing?

The WIF price risks declining by another 48% due to the formation of a classic bearish reversal setup.

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MATIC: Experts Warn Of Key Support Level As Price Hits Two-Year Low Levels

MATIC, Polygons native token, recently suffered a significant price decline amid a broader market downturn. The token dropped over 20% in the past month, reaching its lowest price level in two years. As the market recovers, some analysts have made a bullish case for the token but warned of a key level to watch. MATIC [...]

The post MATIC: Experts Warn Of Key Support Level As Price Hits Two-Year Low Levels appeared first on Crypto Breaking News.

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Crypto Analyst Reveals Best Altcoins To Buy After This Crash

In the wake of the market crash of recent weeks, crypto analyst Michaël van der Poppe has provided an analysis of the trajectory of Bitcoin and its impact on altcoins. His remarks centered around Bitcoin dominance and the readiness of the altcoin markets, especially in sectors like Artificial Intelligence (AI) and decentralized finance (DeFi), for a potential rebound and significant growth. Van der Poppe started his analysis by discussing Bitcoin dominance, a metric that reflects Bitcoin’s market capitalization relative to the entire crypto market. The analyst noted that contrary to popular belief, the current state of Bitcoin dominance does not herald the beginning of a bear market. “Bitcoin dominance is not at the start of a bear market but it is at the end of the bear market and potentially the start of a bull market,” he stated. This observation is critical as it suggests that Bitcoin’s market sway is stabilizing, potentially setting the stage for an altcoin rally and capital flows into low-cap cryptocurrencies. Best Altcoins To Buy Now Focusing on strategic investment opportunities post-crash, Van der Poppe underscored the importance of selecting altcoins based on sector strength and market recovery potential. He pointed out that AI and DeFi are two sectors where growth could be most explosive due to underlying technological advancements and increased use cases. Within these sectors, he identified specific tokens that exhibit characteristics of resilience and high growth potential. #1 TAO TAO, a token within the AI sector, is highlighted by van der Poppe for its robust performance in recent weeks, showing a remarkable 70% rebound from its lows. “TAO is a super strong asset within the AI sector and has shown a 70% bounce from its lows,” he noted. Related Reading: SUI Leads Crypto Market With 78% Weekly Uptick: Heres Why This rebound is significant as it reflects growing investor interest and confidence in AI technologies within the blockchain space. Van der Poppe projected an optimistic future for TAO, suggesting, “This is one that could be doing another 5x to 10x from here,” based on its current trajectory and market interest. #2 AAVE Shifting his focus to the DeFi sector, Van der Poppe recommended AAVE, a token that has shown significant strength against Bitcoin and USDT. “AAVE is having a pretty standard or beautiful accumulation against Bitcoin; it’s making new highs against USDT and just consolidating before a big breakout.” He emphasized the relative undervaluation of AAVE by comparing its total value locked (TVL) to its market cap. “If we look at TVL versus the market cap, then the market cap of a is $1.5 billion and the TVL is around $10.3 billion which means that that valuation is 0.5. For ONDO it’s 15. It’s 100 times bigger so 0.5 is heavily undervalued where the regular valuation should be around 0.5 to 1 which means that there’s a lot of momentum to be made in,” he explained. Related Reading: Crypto Scam? PolitiFi Token RTR Plummets 95% After Trump Family Denies Link #3 RENZO In addition to AAVE, Van der Poppe brought attention to RENZO, another DeFi asset that, despite being in a downtrend, shows signs of reaching a lower valuation boundary that could attract speculative interest and potential upside. He described RENZO as a higher-risk investment compared to AAVE but noted that the asset’s significantly lower valuation in relation to its TVL could present a compelling buy opportunity for risk-tolerant investors. I want to show you RENZO which currently has a market cap of $50 million, fully diluted $440 million, but the TVL which we can see on DefiLama is $1.3 billion. So in that aspect that valuation is even lower than AAVE but there is also more risk implied by investing in such an asset, the analyst said. #4 AEVO Finally, Van der Poppe turned his attention to decentralized exchanges, specifically AEVO. He described AEVO’s unique position in the market, offering sophisticated trading options such as prediction markets, options, and hedging. “AEVO is very likely making a bullish divergence and a falling wedge, and is likely going to reverse from here,” he assessed, indicating potential upcoming growth potential. These are my primary bets that I want to take going forward in this market and in the next few weeks, van der Poppe concluded. At press time, TAO traded at $294.22. Featured image created with DALL.E, chart from TradingView.com

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Buying Crypto on Changelly A Complete Guide

Welcome to “A Guide to Buying Crypto on Changelly.” Whether you’re a seasoned crypto enthusiast or just beginning your journey into the world of digital...

The post Buying Crypto on Changelly – A Complete Guide appeared first on Cryptocurrency News & Trading Tips Crypto Blog by Changelly.

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German govt transfers another $900M in Bitcoin, adding to BTCs selling pressure

Repeated Bitcoin transfers to centralized exchanges suggest the German government plans to sell the remaining $1.3 billion in BTC holdings.

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Spot Bitcoin ETFs see record inflows after July 4 dip

The Bitcoin price correction provided a strong opportunity for ETF investors to buy the dip.

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Social Media Screams Sell As Bitcoin Crashes To $54,000: Buy Signal?

Data shows users on social media platforms have been calling to sell Bitcoin after its latest crash, a signal that contrarian traders may be waiting for. Bitcoin Sentiment On Social Media Has Turned Quite Bearish According to data from the analytics firm Santiment, social media is showing historic levels of FUD amid the market drawdown. The indicator of interest here is the “Social Volume,” which basically tells us about the degree of discussion around a given topic or term that users on the major social media platforms are currently participating in. This metric works by going through posts/threads/messages on these platforms to look for mentions of the keyword. The indicator then counts up the number of posts that contain at least one such mention. Related Reading: Bitcoin Traders Sink Into Fear As Price Crashes Below $58,000 The reason the Social Volume doesn’t simply count up the mentions themselves is that mentions alone don’t contain any information about if the trend is being followed across social media as a whole. Sometimes, for example, mentions can be high for a topic, but most of them could be limited to niche circles (that is, inside a few posts). The Social Volume naturally wouldn’t spike in this case, but it would when users across the platforms are making posts about the term. Now, what the analytics firm has done here is that it has applied terms related to sentiment to Social Volume, to differentiate between discussions related to positive and negative sentiments. Here is the chart shared by Santiment that shows how the Social Volume for negative and positive sentiments has changed alongside the recent Bitcoin volatility: To discern the sentiment, the analytics firm has chosen terms such as buy, bottom, and bullish in the case of positive sentiment, and sell, top, and bearish for negative sentiment. From the graph, it’s visible that the Social Volume for the latter type of keywords has observed a huge spike alongside the plunge in the Bitcoin price. This would imply that a large amount of bearish posts have popped up on social media. The indicator has also spiked for terms pertaining to positive sentiment, but clearly, the scale has been lesser than the one for bearish terms. In fact, the latest ratio between sell and buy calls has actually been the largest observed in the year so far. Thus, it would appear that social media users as a whole are feeling FUD towards Bitcoin. This may actually be a positive development for the cryptocurrency, however, as its price has historically been more likely to move in the opposite direction to what the crowd expects. Related Reading: Why Did Bitcoin Plunge Under $58,000? On-Chain Data Says This As is apparent in the chart, buying calls had spiked on a few occasions following price plunges in the past month, but this optimism had only led to a continued decline for the asset. With the latest crash, sentiment appears to have finally flipped, with Bitcoin traders starting to give up. “For bold traders, this is a window that some may wish to be a true contrarian and buy into the crowd’s anger and frustration,” notes Santiment. BTC Price Bitcoin had briefly slipped under the $54,000 level during the plunge, but the asset appears to have bounced back to $55,400 since then. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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How to Find and Buy New Crypto Before Listing? Safer Investing 101

Every spike in Bitcoin’s value sends a wave of regret through the crypto community: “Why didn’t I invest sooner?” As fear of missing out (FOMO)...

The post How to Find and Buy New Crypto Before Listing? Safer Investing 101 appeared first on Cryptocurrency News & Trading Tips Crypto Blog by Changelly.

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$100M Bitcoin liquidated as BTC drops: Will ETF investors panic sell?

Despite BTC falling below the realized price of ETF buyers, ETF holders did not panic sell, but a deeper correction remains on the horizon.

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XRP Bullish Signal: Shark & Whale Population Sharply Growing

On-chain data shows the total number of sharks and whales on the XRP network has seen a sharp increase recently, a sign that could be bullish for the asset’s price. XRP Sharks & Whales Have Witnessed Their Count Go Up Recently According to data from the on-chain analytics firm Santiment, the shark and whale wallets have registered a notable jump over the past five weeks. The indicator of relevance here is the “Supply Distribution,” which tells us about the number of addresses that currently belong to a given wallet group. Related Reading: Dogecoin & Other Memecoins Seeing Less Interest Than Bitcoin: Data The addresses are put into these cohorts based on the number of coins that they are carrying in their balance right now. Investors who own between 1 and 10 XRP, for example, fall inside the 1 to 10 coins group. In the context of the current discussion, the 10,000+ coins group is of interest. The cutoff for this cohort converts to around $6,500 at the current exchange rate. This amount in itself isn’t high, but the upper range of the group stretches to infinity, so it should also include heavyweight investors like sharks and whales. The sharks and whales are considered key investors in the market, so their behavior can be to keep an eye on, as it may end up affecting the cryptocurrency’s price. Naturally, the whales are the more influential of the two, due to their larger size. Now, here is a chart that shows the trend in the XRP Supply Distribution for the 10,000+ coins cohort over the past few months: As displayed in the above graph, the XRP Supply Distribution for this wallet group has observed a rapid increase recently. More specifically, around 2,390 addresses of this size have popped up on the network in just the past five weeks. This would suggest that entities like the sharks and whales have been busy accumulating the cryptocurrency. Following the latest increase, the indicator’s value has reached the 279,400 mark, which is the highest that it has been in about six months. From the chart, it’s visible that the indicator’s value had been observing a downtrend earlier in the year, alongside which, the asset’s price had also been riding bearish momentum. The indicator reached a bottom in April, which is around when the asset’s drawdown also slowed down. And since the recent uptrend in the Supply Distribution of the sharks and whales has appeared, the XRP price has also felt the return of bullish winds. “The correlation between these wallets and XRP’s market value has been undeniable throughout 2024,” notes Santiment. Related Reading: Minimal Bitcoin On-Chain Resistance Ahead: Price Set For New ATH? Given the pattern, this indicator should be monitored in the near future, as a continued rise in it could spell a bullish outcome for the cryptocurrency. XRP Price XRP has enjoyed a rally of around 5% during the past 24 hours, which has taken its price to the $0.65 level. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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How to Buy and Exchange Cryptocurrency with Changelly on Android

Changellys Android mobile app allows users to buy and exchange crypto as easily and with the same low fees as our website. And not only...

The post How to Buy and Exchange Cryptocurrency with Changelly on Android appeared first on Cryptocurrency News & Trading Tips Crypto Blog by Changelly.

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