Hulk Hogan, Ozzy memecoins soar as tributes roll in over icons’ deaths
Terry Bollea, better known by his wrestling ring name Hulk Hogan, was pronounced dead in a hospital on Thursday at the age of 71, days after Ozzy Osbourne passed away at 76.
Terry Bollea, better known by his wrestling ring name Hulk Hogan, was pronounced dead in a hospital on Thursday at the age of 71, days after Ozzy Osbourne passed away at 76.
A Texas magistrate judge says Logan Paul’s bid to blame the co-founders for the failure of his CryptoZoo NFT project should be rejected.
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The XRP price rally has already seen it reclaim the $3.6 level once this year before slowing back down again. This slowdown has raised concerns of a possible end to the rally. But the formation of a Cup and Saucer Pattern actually tells a different story. Since this pattern is yet to be completely fulfilled, there is the possibility that the XRP price rally has only entered a possible slowdown and will continue to rise from here. Why The XRP Price Rally Is Still In Motion Crypto analyst Cryptinsightuk took to X (formerly Twitter) to share the formation of a Cup and Saucer pattern on the XRP price pattern. This comes after double rejection from the $3.65 level, which is now acting as the major resistance to the altcoin’s continuation of the rally. However, while this double rejection is concerning, the emergence of the Cup and Saucer pattern suggests a sustained bullish trend. Related Reading: XRP Is About To Break 8-Year Resistance Against Bitcoin Ahead Of Spot ETF Approval Cryptoinsightuk explains that despite the rejections, the XRP price has continued to put in higher lows. Naturally, this is bullish for the price regardless of where the resistance lies. Going by the chart as well, it is obvious that there is still a way to go before the pattern plays out completely and suggests a decline in the price. From here, the analyst expects that the XRP price will indeed continue to rise. One of the major reasons that this remains bullish is the fact that this formation is coming above previous range highs. Therefore, Cryptoinsightuk explains that it is more likely a continuation pattern leading to a breakout than it is to lead to a breakdown in price. If the Cup and Saucer pattern does hold up and continue as expected, then the next target would be to retest and break the resistance that has mounted at $3.65. Once this resistance breaks, then a continuation of the rally would put XRP back on the path toward new all-time highs above $3.8. Bullish Developments Spark Hope Not only are the charts showing bullish momentum for the XRP price, but other market developments have also put the altcoin on a positive path. The latest of these is the SEC approval of the Bitwise 10 Crypto Index Fund earlier in the week, which includes XRP as one of the cryptocurrencies held by the fund. Although the SEC eventually stayed the decision and is now under review. Related Reading: Ethereum Price On The Verge: Banks And State Buy To Push ETH Above $5,500? This comes just a week after the first XRP ETF was approved for trading by the regulator last week, paving a way for more institutional investors to have access to the altcoin. Grayscale has also applied to convert its Grayscale Digital Large Cap Fund LLC, which also includes XRP, into an ETF, and is awaiting approval from the SEC as well. Featured image from Dall.E, chart from TradingView.com
TLGY Acquisition Corp. will merge with SC Assets to create StablecoinX, a company focused on building an ENA treasury. Backed by $360 million in PIPE financing, the venture aims to secure a major stake in Ethena’s stablecoin ecosystem. ENA Treasury to be Powered by StablecoinX Through $360 Million Funding TLGY Acquisition Corp. has announced the […]
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Graham Krizek, founder and CEO of Voltage, predicts the Lightning Network will capture billions in global stablecoin volume within the next few years.
Welcome to the Daily General Discussion on r/ethereum https://imgur.com/3y7vezP Bookmarking this link will always bring you to the current daily: https://old.reddit.com/r/ethereum/about/sticky/?num=2 Please use this thread to discuss Ethereum topics, news, events, and even price! Price discussion posted elsewhere in the subreddit will continue to be removed. As always, be constructive. – Subreddit Rules Want to…
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The Bitcoin short-term holder balance has often shown shifts near market tops and bottoms. Here’s what the metric’s trend is signaling right now. Bitcoin Short-Term Holder Balance Hasn’t Seen Any Major Shifts Recently In a new post on X, institutional DeFi solutions provider Sentora (formerly IntoTheBlock) has shared a chart that shows how the holdings of the different Bitcoin investor groups has changed over the years. The cohorts in question have been divided on the basis of holding time. Related Reading: Crypto Liquidations Near $1 Billion As XRP, Dogecoin Crash 10% The analytics firm classifies investors into three groups: traders, cruisers, and hodlers. The traders include the holders who have been carrying their coins for less than a month. This group corresponds to the new entrants in the sector and the investors who participate in high frequency trades. The cruisers are investors who are no longer that short-term minded, but they also haven’t built up enough resilience to be in it for the long-term yet. Cruisers who manage to hold past the one year mark become part of the diamond hands of the network: the hodlers. Now, below is the chart for the net change in the supply held by these three Bitcoin groups. As displayed in the above graph, these cohorts have historically shown a certain pattern near inflection points in the asset. “Fluctuations in short-term holder balances often signal market turning points,” notes the analytics firm. During major tops and bottoms, the traders generally register a sharp spike in their balance, as cruisers and hodlers take part in profit realization or capitulation. Whenever these older groups sell, the age of their coins resets back to zero and they are put into the supply of the traders. From the chart, it’s apparent that while Bitcoin has observed a sharp rally to new all-time highs (ATHs) recently, there still hasn’t been any big changes in the supplies of the traders. “Interestingly, we’re not seeing major shifts at the moment,” says Sentora. It now remains to be seen whether this means that the current rally still has room to grow. Related Reading: When Will Ethereum Turn Overheated? Report Says Watch This Level In some other news, the cryptocurrency has seen an uptick in on-chain transaction activity, as the analytics firm has pointed out in another X post. The weekly Bitcoin transaction volume reached almost $700 billion last week, the highest level since 2022. Though, while this does indicate activity is as high as it’s ever been in this cycle, it’s still muted when compared to the highs of the 2021 bull run. BTC Price Bitcoin is still stuck in sideways movement as its price is trading around $119,000. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
The sudden crypto market downturn saw 213,729 traders get liquidated for a total of nearly $600 million over the past 24 hours.