Category: Crypto News (Page 1 of 15)

Analyst Says Cardano (ADA) Is Now Setting Up To Surge

An analyst says Cardano (ADA) is now setting up to surge after the cryptocurrency formed a pattern indicating a potential rally.

In a new thread, crypto strategist Ali Martinez tells his 44,000 followers on the social media platform X that the price of ADA could go up based on the cryptocurrency’s descending triangle chart pattern.

A descending triangle is generally considered a bearish signal as a continuation pattern in an established downtrend, but a breakout in the opposite direction known as a reversal pattern is bullish.

Martinez says Cardano may surge to $0.68 once it starts moving to the upside.

The crypto asset is currently trading for $0.54, up by 5% over the last 24 hours.

“Cardano shows signs of a descending triangle formation on its daily chart.

A sustained daily close above $0.53 could lead to the start of a 32% rally, potentially pushing ADA up to $0.68!”

Cardano Market Analysis - Ali Martinez.
Cardano Market Analysis – Ali Martinez.

Last month, the crypto analyst and trader also said that Cardano may see gains of over 1,300% as the asset goes through a consolidation phase similar to that in 2020 which catapulted ADA to its all-time high price of over $3, an increase of more than 2,900%, reports The Daily Hodl.

According to data from the market intelligence platform IntoTheBlock, a significant percentage of Cardano investors are long-time holders of the asset.

“23% of Cardano holders have held their ADA for more than 5 years.”

Cardano Holders – IntoTheBlock.

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Also Read: Bitcoin Will Now Surge To $200,000 in 2025 Says Analyst

Other Crypto News Today

Market News Today - Analyst Says Cardano (ADA) Is Now Setting Up To Surge.
Market News Today – Analyst Says Cardano (ADA) Is Now Setting Up To Surge.

Binance will now launch a massive Web3 crypto gaming project built on Ronin (RON) which will be focused on farming and exploration.

The top global crypto exchange says the 46th Binance Launchpool project will be Pixels (PIXEL), a blockchain-based, open-ended game focused on farming and exploration.

Launchpool allows users to stake coins to farm new assets, reports The Daily Hodl.

Starting on Friday, Binance users will have 10 days to stake BNB and the stablecoin First Digital USD (FDUSD) in separate pools to farm PIXEL tokens.

The exchange will then list PIXEL for trading on February 19th and apply a seed tag to the asset.

Binance applies seed tags to lower-liquidity tokens that have more volatility potential, and users who own assets with tags are required to pass quizzes every 90 days to ensure they’re aware of their inherent risks.

Pixels promoted the exchange listing on the social media platform X and noted that the game surpassed more than 180,000 daily active users (DAU) in 2023.

“Our explosive growth can be attributed to two core factors: our community and our migration to Ronin, Sky Mavis’ proprietary blockchain. Behind every successful web3 game is a thriving, engaged, and passionate community.

We started with a core, devoted community that has only expanded as Pixels was introduced to the players in the Ronin ecosystem.”

Ronin (RON) is a gaming-focused Ethereum (ETH) sidechain.

“With the listing on Binance and the sunset of $BERRY to create a sustainable ecosystem, we are confident that Pixels’ best days are ahead,” the network said.

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Also Read: A Veteran Trader Now Becomes Super Bullish on Bitcoin BTC

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Market News Today - Analyst Says Cardano (ADA) Is Now Setting Up To Surge.
Market News Today – Analyst Says Cardano (ADA) Is Now Setting Up To Surge.

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Ripple’s Stablecoin and the Future of Digital Payments

Ripple, known for its focus on payment system solutions and the XRP cryptocurrency, is preparing to launch its stablecoin, initially pegged to the US dollar. This move could herald a new era in the realm of digital currencies and significantly impact the market. The company assures that its stablecoin will always maintain equivalent asset backing, with periodic independent audits to ensure security

Stablecoins, a subset of cryptocurrencies, derive their value from stable assets such as fiat currencies (mostly the US dollar) or commodities like gold, aimed to reduce price volatility. While Ripple’s stablecoin is primed for a US debut, plans for regional variations in Europe and Asia aren’t off the table. In the US market, it will have to compete with well-known industry giants such as Tether (USDT), Circle (USDC), and PayPal USD stablecoin issued by Paxos Trust Company.

Ripple’s idea to create a stablecoin is driven by its commitment to offer heightened stability, potentially appealing to financial institutions and businesses. 

The launch of Ripple’s stablecoin could have a twofold impact on existing XRP cryptocurrency. On the one hand, this may drive greater interest in the Ripple ecosystem, bolstering XRP’s utility as a bridge currency in cross-border transactions. On the other hand, there’s a risk of the stablecoin encroaching on XRP’s market share. Regardless, market observers will closely monitor XRP price dynamics. Some analysts have concerns over Tether’s asset backing, suggesting vulnerability to a potential “bank run” if token holders rush to redeem massively. 

There are rumors regarding Tether’s strained relations with regulatory authorities, while Ripple fully complies in jurisdictions like New York, Ireland, Singapore, and other countries. Despite this new trajectory, Ripple remains committed to its XRP token. The history of stablecoins knows both success stories and failures; stability and platform trust are paramount to safeguarding token holders’ investments and regulatory adherence.

Ripple Stablecoin analysis

Ripple’s track record in developing payment systems and fostering partnerships with banks and financial institutions could augur well for the widespread adoption of stablecoin. The company envisions the stablecoin not only as a stability tool but also as a conduit for expanding its foothold in the digital payments arena. Anticipated benefits include bolstering strategic positioning and forging new financial market alliances. 

This strategy not only facilitates diversification but also aids in automated trading, a realm where maintaining numerous multidirectional positions on a given cryptocurrency is pivotal. Engaging in free market replay and simulated trading using historical data serves as an excellent avenue for honing trading skills without exposing capital to risk.

The Ripple stablecoin’s debut could be a seminal event in digital finance, potentially enhancing XRP’s value and broadening Ripple’s operational horizons. Despite inherent stability and regulatory challenges, Ripple possesses the requisite expertise and resources to navigate these waters successfully. It’s imperative to acknowledge that a stablecoin’s success hinges on myriad factors, encompassing community reception, technological robustness, and market confidence in its stability.


Analyst Now Says Bitcoin (BTC) Will Hit All Time High

An analyst now says Bitcoin (BTC) will hit all time high numbers by the end of 2024, due to new demand and buying pressure.

Bitwise analyst Ryan Rasmussen is bullish on Bitcoin (BTC) based on the tremendous amount of volume going into Bitcoin ETFs.

The researcher at Bitwise Asset Management says that over one billion dollars has flown into the company’s Bitcoin spot ETF.

“I think it’s no surprise we’ve seen the price of Bitcoin rise following the launch of those ETFs and I think it will be the same for Ethereum or other assets if there were more ETFs to come into the market,” the analyst told Yahoo Finance on Monday.

“With all that sideline capital, I think we’re still in the early innings of crypto reaching its point in the current adoption curve where we have everyday investors, institutional investors, and retail investors, all allocating to these products — and ETFs are just one of those really great vehicles that help bring those investors to market and help create a highway for them to allocate to not just Bitcoin but Ethereum, Solana, and other assets.”

“We think that Bitcoin will certainly set all time highs in 2024.

That previous price is right around $69,000, but we don’t think it’s going to stop there.

We think that we’ll at least see a 10%-15% bump over the last all-time high in 2024 — that would take us to the mid $80K range, so I think our target was $88K by the end of 2024 and I’m still thinking by that seeing all the excitement in the market today,” the analyst continued.

Bitcoin is currently trading at $56,562 at the time of this publication.

What is your Bitcoin price prediction for 2024?

Will Bitcoin go up in 2024? Leave your thoughts below.

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Also Read: Daily Crypto News

Will Bitcoin hit a new all time high in 2024? Bitcoin (BTC) Price Prediction 2024.

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Market News Today - Analyst Now Says Bitcoin (BTC) Will Hit All Time High.
Market News Today – Analyst Now Says Bitcoin (BTC) Will Hit All Time High.

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Bitcoin (BTC) Is Now Making Way To Surge To $60K

Bitcoin (BTC) is now making way to surge to $60K as it begins to break higher lows and higher highs, signifying an upcoming rally.

BTC has surged more than +$4,500 in just the past week alone and analysts are forecasting the cryptocurrency leader to hit $60K soon.

Crypto analyst Kevin Svenson believes Bitcoin (BTC) could rally to a key resistance level ahead of the halving event.

In a new strategy session, the trader tells his 72,000 YouTube subscribers that the flagship digital asset’s upward momentum could take it to $60,000 before the April halving event, when miners’ rewards are cut in half.

“So the area in between $57,500 and about $60,000, the trap liquidity target, that is the next major area of resistance in my opinion.

And that is the area that I’m targeting as we’re moving into the halving.

If we keep up this momentum, the momentum that we have right now, the trajectory that we’re on, it’s not really that crazy of an idea that we would come up and hit that target zone in between $57,500 and $60,000.

It’s quite likely actually.”

Will Bitcoin (BTC) hit $60K soon?
Will Bitcoin (BTC) hit $60K soon?

The trader also warns that after the halving event, Bitcoin could retest the level around $44,000.

“After the halving, there’s a possibility that we get a dip to retest support before actually testing new all-time highs.

But going into the halving, there’s going to be a lot of anticipation and anticipation for positive fundamental events such as the halving is likely going to lead to a lot of optimism, positive sentiment, bullish speculation, and depending on what the stock market is doing when we get to these price levels, there is a possibility for a post halving dip to that $44,000 level before then going up once again.”

Bitcoin is currently trading at $51,726 at the time of this publication.

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Also Read: Bitcoin Will Now Surge To $200,000 in 2025 Says Analyst

Other Crypto News Today

Market News Today - Bitcoin (BTC) Is Now Making Way To Surge To $60K.
Market News Today – Bitcoin (BTC) Is Now Making Way To Surge To $60K.

Ethereum and Cardano now lead massive institutional inflow as $1,100,000,000 ($1.1bn) hits crypto ETPs, sources report.

Digital assets manager CoinShares says institutions poured a whopping $1.1 billion into crypto investment products one month after the U.S. Securities and Exchange Commission (SEC) approved the spot BTC exchange-traded funds (ETFs).

In its latest Digital Asset Fund Flows report, CoinShares finds that crypto investment products saw over a billion dollars in inflows last week and show no signs of slowing down.

“Digital asset investment products saw large inflows totaling $1.1 billion, bringing year-to-date inflows to $2.7 billion,” the report detailed.

“Coupled with recent price rises, total assets under management (AuM) is at the highest level since early 2022 at $59 billion.”

Crypto asset inflow.
Crypto asset inflow.

According to CoinShares, most of the inflows were focused on BTC ETFs, which have reached almost $3 billion in the last month.

The firm says Bitcoin’s price appreciation “buoyed sentiment” for Ethereum (ETH) and Cardano (ADA), which both saw more inflows than the rest of the altcoin market.

“Regionally, the focus remained on the newly issued spot-based Bitcoin ETFs in the US, which saw a net $1.1 billion inflows last week, bringing inflows since the January 11th launch to $2.8 billion.

The outflows from incumbents have slowed significantly, but the potential sale of the Genesis holdings of $1.6 billion could prompt further outflows in the coming months…

Bitcoin saw almost 98% of the inflows, while the price appreciation also buoyed sentiment for Ethereum and Cardano.”

BTC, per usual, saw the lion’s share of inflows, taking in 98% of last week’s inflows at $1.09 billion.

Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), Polygon (MATIC), and Tron (TRX) each saw inflows of $16 million, $6 million, $0.5 million, $0.4 million, and $0.4 million, respectively.

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Market News Today - Bitcoin (BTC) Is Now Making Way To Surge To $60K.
Market News Today – Bitcoin (BTC) Is Now Making Way To Surge To $60K.

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