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The plan would create markets for DAI-replacement USDS on Aave.
BitMEX has updated the Mark Method for DOGSUSDTQ24 to Fair Price marking, effective August 27, 2024, enhancing price accuracy. (Read More)
BitMEX announces the listing of DOGSUSDT perpetual swap, offering up to 10x leverage for traders. (Read More)
Binance Futures will launch the SYSUSDT Perpetual Contract with up to 50x leverage, starting August 19, 2024, at 12:30 (UTC). (Read More)
The Axie Infinity price forecast suggests that the coin is bouncing back from its daily opening price of $7.40, with potential for further fluctuations ahead. [...]
Axie Infinity (AXS), the popular play-to-earn game token, appears to be drawing significant attention from crypto analysts and investors alike. Recent analyses by renowned crypto experts Ali and Captain Faibik have identified key patterns and technical signals indicating a possible bullish breakout for AXS. The analysts observed an inverted head and shoulders pattern on the weekly chart of AXS, a classic technical indicator often associated with the reversal of a downtrend and the start of a bullish phase. Related Reading: Axie Infinity Co-Founder Losses Over $10 Million In Hack, AXS Holds Firm Major Rally Predicted For Axie Infinity (AXS) Ali predicts that if AXS can successfully break through the $13 resistance level, it could trigger a rally, pushing the price toward $22 or higher. Captain Faibik shares this optimism, pointing out a bullish trajectory on the 8-hour timeframe. #AxieInfinity appears to form an inverse head-and-shoulders pattern on the weekly chart, which anticipates $AXS to rise toward the neckline at $13 before a potential breakout to $22. pic.twitter.com/99kVKwUrwc Ali (@ali_charts) May 23, 2024 Faibik noted a decisive breakout from a significant falling logarithmic trend and suggested that, following a retest phase, AXS might experience a surge of up to 40 percent in the near term. $AXS Major Trendline Breakout & Retest has confirmed on the 8hr timeframe Chart.. Looks Promising for the +40% Bullish Rally in the near term. #Crypto #AXS #AXSUSDT pic.twitter.com/VrxIndGIDc Captain Faibik (@CryptoFaibik) May 23, 2024 Despite the positive technical outlook, Axie Infinity has faced challenges, including a significant drop in user engagement. Following its crash in February 2022, the token AXS has since fallen from its all-time high of $164 in November 2021, plummeting by 95%. The asset is currently trading at around $7.72, an increase of 0.9% in the past 24 hours and nearly 8% over the past week. This price movement coincides with a generally bullish trend in the global crypto market, fueled by anticipation of Altcoin ETFs’ approval, particularly for Ethereum. Axie Infinity is currently ranked as the 87th largest cryptocurrency by market cap, maintaining a valuation of around $1.1 billion. The 24-hour trading volume for AXS stands just above $41 million. Despite its mid-cap status, Axie Infinity’s network metrics have declined, such as unique active wallets (UAW) and volume. DappRadar data shows a 5% decrease in UAW and a 49% drop in volume over the past 24 hours, with current UAW at 43,500 and volume slightly above $1 million. Recent Security Breach and Future Outlook The backdrop of these market dynamics includes a recent security incident involving Jeff Jihoz Zirlin, co-founder of Sky Mavis, the company behind Axie Infinity. In February, two of Zirlin’s crypto wallets were compromised, leading to the theft of over $10 million in various crypto assets, primarily RON, the native token of Ronin Chain. This chain is an Ethereum sidechain designed specifically for Axie Infinity. Zirlin confirmed that the breach was limited to his accounts and did not impact the Ronin chain or Sky Mavis operations. He emphasized that the stolen private keys were not connected to the companys internal systems and reassured the community of strict security measures for all chain-related activities. Despite the setback, Zirlin remains optimistic about the future and is committed to bringing economic freedom to users through Axie Infinity. Featured image created with DALL·E, Chart from TradingView
The popular synthetic USD stablecoin has experienced a significant decline in value recently, causing it to fall to new lows and depeg from its intended value. This instability has raised concerns among investors and users who rely on stablecoins for trading and financial transactions. The synthetic USD stablecoin was designed to maintain a 1:1 peg [...]
The post Synthetix’s sUSD Stablecoin Plummets to $0.68 After Depegging appeared first on Crypto Breaking News.
The Ethereum Name Service price prediction could set a bullish run if the market can attempt to climb back above the resistance level of $30. [...]
Frax Finance, a decentralized finance (DeFi) protocol, recently unveiled its Singularity Roadmap. It aims to propel the total value locked (TVL) of its layer 2 blockchain, Fraxtal, to $100 billion by the end of 2026. This notable surge would represent a 760,000% increase from the current TVL levels, which stand at $13 million. Frax Finance Singularity Roadmap According to the protocols announcement, Fraxtal, the substrate that powers the Frax ecosystem, serves as Frax Finance’s operating system. With the launch of Fraxtal and achieving an effective 100% Collateralization Ratio (CR), Frax Finance claims to have consolidated its core product offerings. Related Reading: Bitcoin Spot ETFs See 4 Consecutive Days Of Outflows, Heres What Happened Last Time To reach the ambitious $100 billion TVL goal, the protocol has announced that it has already generated over $45 million, reaching the coveted 100% CR. As announced, with this milestone achieved, the FRAX stablecoin, which has remained relatively dormant during the process, and the FXS revenue share, which has been temporarily reduced by 90% to conserve assets, can now undergo a “transformative change.” In addition, the upcoming introduction of Layer 3s (L3s) on Fraxtal is expected to be a key factor in further contributing to the growth and adoption of the protocol. Fraxtal, which is built on the Optimism (OP) network, stands out as one of the most widely used layer 2 solutions on top of Ethereum (ETH), according to the protocol. The Frax team says it has developed its underlying incentives to provide a seamless experience for developers and users, further encouraging adoption. In particular, by owning the entire stack, Frax can introduce advanced features such as account abstraction, new precompiles, privacy features, aggregated decentralized applications (dApps), and interoperability with Superchain. The protocol believes these features will enhance the on-chain experience, making Fraxtal the preferred platform for holding, staking, and transferring crypto assets. Expansion Strategy The proposal also unveils Frax Finance’s plan to establish 23 Layer 3s within 365 days, kicking off the “Fraxtal Nation” community. By supporting these 23 chains with developer access, incentives, and investment, Frax aims to foster a positive-sum approach and provide additional support to official partners. The protocol also suggests that these partners will receive “substantial allocations” of FXTL points, aiming to solidify the role of the FXS token as the ultimate beneficiary of the Frax ecosystem. Moreover, Frax Finance founder Sam Kazemian intends to allocate 50% of the revenue from protocol fees to veFXS token holders. In comparison, the remaining 50% will be used to acquire FXS and other Frax assets for pairing in the FXS Liquidity Engine (FLE). This initiative will increase liquidity, strengthen the Frax balance sheet, and provide additional incentives for the protocol’s stakeholders. Related Reading: Stablecoins Steal The Spotlight: $150 Billion Market Cap, $122 Billion Daily Trades Frax Finance’s proposal also seeks to reactivate the protocol fee switch, which was temporarily turned off during the consolidation phase of the protocol. By reigniting this switch, a portion of the yield generated from protocol fees will be directed toward veFXS token holders. veFXS, or veiled FXS, represents a locked version of the native token, FXS, and offers enhanced voting power and participation in the Frax ecosystem. As of the time of writing, FXS has not responded favorably to the news. Its current trading price is $6.93, reflecting a 3.5% loss in the past 24 hours. It is important to note that the proposed protocol features are still in development, and the impact on the Frax Finance ecosystem and the token’s performance is yet to be determined. Featured image from Shutterstock, chart from TradingView.com
EOS Network, a popular open-source blockchain platform prioritizing high performance and security, has recently witnessed a sharp price decline. The asset exhibits bearish sentiment in the 30-Day timeframe. Related Reading: The Best Decision Is To ‘Buy Bitcoin (BTC),’ Robert Kiyosaki Urges The EOS price is down by 14.19% in its one-month data from CoinMarketCap. This suggests that the bears have controlled the market since the last 30 days trading session. This shift in market sentiment raises questions about what lies ahead for EOS. EOS Faces High Bearish Momentum, Further Price Decline, or Potential Reversal? The bearish sentiment and the loss of control by the bulls have had a noticeable effect on EOS’s price. The cryptocurrency has experienced a downward trend, with declining trading volumes and increased selling pressure. Notably, the 24-hour trading volume is declining by 13.29% today, May 29, 2023, and its market cap is down by 1.32%. As of the time of writing, the price of EOS is down by 1.28%, at $0.89. This trend reflects a shift in market dynamics as investors become more cautious and start to sell their EOS holdings. Despite the prevailing bearish sentiment, potential catalysts could alter the trajectory for EOS. On May 26, the EOS network shared potential bullish news about its partnership with Hypha DAO and an initiative dubbed Beta Program. EOS network claims that the Beta program will offer a range of pre-configured templates designed to meet different firms’ needs and objectives. Generally, this news may lead to a positive market impact on the EOS price and market sentiment. EOS’s positive development and partnership can attract new buyers and increase demand, increasing prices. Also, Fear of Missing Out (FOMO), a psychological phenomenon, can create a buying frenzy and drive the price even higher quickly. EOS Price Formed Double Bottom Pattern In that sense, the EOS/USDT has formed a double-bottom chart pattern, suggesting a potential uptrend movement soon. The double bottom pattern is a bullish reversal pattern that typically forms after a prolonged asset price decline. Confirming the double bottom pattern occurs when the asset’s price breaks above the resistance level formed by the peak between the two bottoms. This breakout confirms the reversal signal and suggests a higher probability of an upcoming uptrend. Related Reading: JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why EOS has an important resistance level at $0.931, which represents a significant blockage for possible bullish movement. Bollinger Bands and MACD Signal Potential Trend Reversal The asset is currently oscillating between the upper band and middle band of the Bollinger Band indicator. This suggests an increase in the buying pressure and a rising bullish momentum. In addition, the Moving Average Convergence/Divergence (MACD) is currently above its signal line, suggesting bullish momentum. This indicates that the buyers are gradually taking over the market, and there might be a potential trend reversal soon. As seen in the chart above, the histogram is above zero and has strong green bars, further confirming the bullish sentiment in the market. Featured image from Pixabay and chart from TradingView
Kaspa (KAS) has been making waves in the altcoin market lately, with its impressive surge of over 60% in the past 14 days, according to CoinGecko data. The cryptocurrency is based on the GHOSTDAG protocol, which is a generalization of the Bitcoin Consensus. This protocol offers several advantages over traditional blockchain consensus mechanisms, including higher [...]
The post Kaspa (KAS) Takes Altcoin Market By Storm With 60% Growth appeared first on Crypto Breaking News.
Solana is recovering above the $16 resistance against the US Dollar. SOL price might rise steadily toward the $20 resistance if Bitcoin climbs above $30,800. SOL price is showing positive signs above the $16 level against the US Dollar. The price is now trading above $15 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $16.05 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to move up unless there is a close below $14.40. Solana Price Recovers 10% In the past few days, Solana’s price started a fresh increase from the $13.00 support zone. Recently, Bitcoin and Ethereum saw a steady increase, sparking positive moves in Solana and Cardano. The bulls were able to push SOL above the $14.40 resistance zone. There was a close above the $16.00 resistance. However, the price faced resistance near $17.75, and the 50% Fib retracement level of the key decline from the $22.31 swing high to the $13.00 low. SOL is now trading above $15 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $16.05 on the 4-hour chart of the SOL/USD pair. On the upside, immediate resistance is near the $17.75 level. A clear move above the $17.75 resistance might send the price toward the $20 resistance. It is close to the 76.4% Fib retracement level of the key decline from the $22.31 swing high to the $13.00 low. Source: SOLUSD on TradingView.com A close above the $20 level could resend the price toward the $21.20 resistance zone. Any more gains might send the price toward the $22.40 level. Fresh Decline in SOL? If SOL fails to clear the $17.75 resistance, it could start a fresh decline. Initial support on the downside is near the $16.00 level and the trend line. The first major support is near the $14.40 level, below which the bears might gain strength. In the stated case, the price may perhaps decline toward the $13.00 support. The next major support is near the $12.20 level. Technical Indicators 4-Hours MACD – The MACD for SOL/USD is losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $16.00, and $14.40. Major Resistance Levels – $17.75, $20.00, and $21.20.
At present, the price of Solana (SOL) is showing signs of recovery from a corrective phase. However, to sustain the momentum, it is crucial for SOL to surpass a significant resistance level. In the past 24 hours, SOL has experienced a 4% increase in value. Over the course of the past week, the altcoin has [...]
The post Solana Bulls Must Overcome This Resistance To Avoid A 10% Plunge appeared first on Crypto Breaking News.
EOS price prediction shows that EOS kicked off its rally as the coin continues to spike higher to touch the $1.20 resistance. EOS Price Prediction [...]
The Axie Infinity price prediction is recovering from the daily opening price at the $12.53 level as the price continues to fluctuate. Axie Infinity Prediction [...]
Axie Infinity Price Prediction – January 5 The Axie Infinity price prediction sees a 1.68% price increase over the past 24 hours of trading as [...]
The Axie Infinity price prediction shows that AXS is beginning to restart the uptrend after touching the daily low of $7.86. Axie Infinity Prediction Statistics [...]
The EOS price prediction shows that EOS is likely to cross above the upper boundary of the channel to begin the upward movement. EOS Prediction [...]
Sellers’ momentum is increasing Axie Infinity (AXSUSD) Price Analysis – 07 December An increase in the bulls’ pressure may break up the $10 level which [...]
Sellers’ momentum is increasing Axie Infinity (AXSUSD) Price Analysis – 07 December An increase in the bulls’ pressure may break up the $10 level which [...]
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