Author: dfmines

Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?

Compass Mining is constructing a new Bitcoin mining facility in Iowa, aiming to expand its self-owned infrastructure portfolio in the United States. Compass Mining’s Iowa Expansion Highlights Growing U.S. Presence Compass Mining has announced the development of a bitcoin mining facility on a five-acre site in Iowa. The company plans to energize eight megawatts (MW) […]

The long-awaited rally in the XRP price may be coming to a fast end, as a crypto analyst has predicted a 40% crash for the cryptocurrency. Despite XRP’s recent bullish momentum breakthrough to the $1 mark, the analyst has revealed that XRP is showcasing a Gravestone DOJI candlestick formation, signaling a bearish outlook for the cryptocurrency.  XRP Price Expected To Crash 40%  A crypto analyst identified as ‘Without Worries’ on TradingView has released a detailed analysis of the XRP price action, projecting a 40% crash in the short term. The analyst emphasized that this 40% decline could happen in days, with XRP set to witness a significant reversal from its recent price highs.  Related Reading: Bitcoin Forms Bullish Pennant That Shows Surge To $113,000 Is Coming, Here’s How According to the TradingView crypto expert, the XRP price action witnessed an impressive 150% gain over the past 10 days. This price increase fueled its rise to the $1 milestone for the first time in three years. Despite these bullish developments, the analyst has highlighted several reasons and technical indicators that point to an imminent trend reversal and price correction for XRP.  In the XRP price chart, the analyst identified and confirmed the Gravestone DOJI, a bearish candlestick pattern that appears during market tops and signals the potential for a price correction. The Gravestone DOJI candle indicates that buyers who had tried to push the price of XRP higher were significantly overwhelmed by sellers set on profit-taking.  Another indicator that suggests that the XRP price could be preparing for a significant correction is the Relative Strength Index (RSI) and Money Flow Index (MFI) support breakouts. The RSI measures the speed and changes in an asset’s price movements, indicating whether it is overbought or sold. On the other hand, the MFI considers both price and volume, highlighting where the money is flowing.  A support breakout in XRP’s RSI signals a potential trend reversal due to an overbought market. A breakout in MFI, which the analyst has stated is a very noteworthy indicator, suggests that funds are leaving an asset, ultimately signaling weakening buying pressure.  More Factors That Suggest An Upcoming Crash As mentioned earlier, the TradingView analyst has predicted that the XRP price may crash by 40%, meaning the cryptocurrency could drop from its current value of $1.11 to $0.66. In addition to the factors above, the market expert has stated that XRP’s price action is currently outside the Bollinger bands, which measure an asset’s price volatility.  Related Reading: Ethereum Sees $1 Billion Exchange Outflow Alongside Bitcoin: What This Means For Price The analyst has revealed that 95% of price actions occur within the bands. Hence, prices outside the Bollinger bands often signal a pullback or correction toward the mean point at $0.73. Moreover, he noted that the bands are curving inwards, suggesting that XRP buyers may be exhausted, increasing the likelihood of a price reversal.  Furthermore, the TradingView crypto analyst highlighted that most traders are either long or bullish on XRP, which is a contrarian signal for the cryptocurrency’s price outlook. While he acknowledges a possibility for a continuous upward trend for XRP, the analyst has also noted that present indicators suggest a low probability.  Featured image created with Dall.E, chart from Tradingview.com

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PRESS RELEASE. Singapore, November 19, 2024 — Leading blockchain data provider Nansen announced its collaboration with TRON DAO, a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps. TRON, the trusted network for developers, institutions, and individuals worldwide, will be fully integrated on Nansen 2. This collaboration aims to […]

Crypto drainers face mounting pressure from law enforcement as investigators uncover deeper links between services like Inferno Drainer and high-profile attackers.

On Tuesday, Matthew Sigel, the head of digital asset research at asset management firm and crypto exchange-traded fund (ETF) issuer VanEck, officially endorsed President-elect Donald Trump’s proposal for a national strategic Bitcoin reserve.  Major Financial Players Align This endorsement comes as discussions about BCT’s role in US economic policy are intensifying, most notably with Dennis Porter, co-founder and CEO of the non-profit Satoshi Action Fund (SAF), reaffirming BlackRock’s support for the strategic Bitcoin reserve.  Related Reading: Bitcoin Reaches New High Of $94,000: Blockstream CEO Anticipates $1 Million Ahead Porter emphasized that the Trump administration is actively working towards creating this reserve through an executive order, highlighting a significant alignment among major financial players and lawmakers regarding Bitcoin’s future. During a series of social media posts on X (formerly Twitter), Porter also outlined a series of steps he believes will facilitate the establishment of the strategic Bitcoin reserve, suggesting that the process will begin with Trump appointing a pro-Bitcoin Treasury Secretary.  Key Steps For Establishing A US Strategic Bitcoin Reserve  Porter asserts that Donald Trump would then sign an executive order to create the reserve, which would also involve halting the auction of Bitcoin currently held by the US Marshals Service.  The next phase would see the Treasury absorb these Bitcoin assets and place them into the Exchange Stabilization Fund. Over time, the Treasury would continue to accumulate Bitcoin for the reserve. Porter also noted the importance of legislative support, stating that since executive orders can be easily reversed, it would be crucial for Congress to pass a formal bill establishing the strategic reserve, spearheaded by pro-crypto Senator Cynthia Lummis. Related Reading: Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed The potential for a US strategic Bitcoin reserve has generated substantial excitement in the market, contributing to Bitcoin’s recent surge to an all-time high of $94,000. This reflects growing confidence among investors and speculation that such government actions could lead to significant buying pressure and further institutional adoption. At the time of writing, BTC has fallen back to $93,380 after hitting its new all-time high, marking a 40% increase in just two weeks.  Featured image from DALL-E, chart from TradingView.com

Bitcoin analysts and traders have long dreamed of a $100,000 BTC price, but what would the achievement mean for derivatives markets? 

Bitcoin exchange-traded funds (ETFs) remain preferred choice of investment for institutional investors seeking exposure to bitcoin. Hedge Funds Keep Diversifying Portfolio With Bitcoin The recent 13F Securities Exchange Commission (SEC) filing for end of Q3 revealed that hedge funds such as Millennium Management, Capula Management, and Tudor Investment boosted their exposure to U.S. spot bitcoin […]

Coinbase has already discontinued market trading of WBTC and is only facilitating limit orders.