Category: Cryptocurrency News

submitted by /u/kirtash93 [link] [comments]

submitted by /u/kirtash93 [link] [comments]

i thought airdop is imminent? does it make sense if i want to restake more LSDs on eigenlayer? submitted by /u/Worried_Bar_5916 [link] [comments]

According to Greg Solano, co-founder of Yuga Labs, the Web3 platform has laid off additional workers partly because it had “lost its way.” Solano also encouraged employees uninterested in the next phase to consider accepting the same severance package offered to those affected by the layoffs. Convoluted Corporate Processes Yuga Labs, the Web3 platform behind […]

Lido, the largest liquid staking protocol, controls over 28.5% of all staked Ether, as liquid staking remains the largest DeFi protocol category.

The once-booming cryptocurrency XRP, championed by Ripple Labs, finds itself precariously perched on a stormy sea of uncertainty. Recent weeks have been a tempestuous voyage for the digital asset, rocked by a confluence of challenges: regulatory scrutiny, dwindling investor confidence, and now, the ominous exodus of major whales. Related Reading: Render Revving Up: Analyst Predicts Potential Climb To $16 XRP Whale Exodus Sparks Fear These “whales,” the deep-pocketed investors holding vast quantities of XRP, have begun executing sizable sell orders, sending tremors through the market. On-chain data reveals a colossal transfer exceeding 24 million units, valued at slightly over $12 million, departing from the Bitvavo exchange and vanishing into an anonymous wallet. Such sizeable movements are often interpreted as a bearish signal, signifying a potential lack of faith among these influential investors and casting a dark cloud over XRP’s immediate future. Source: Whale Alert/X XRP Price Takes A Tumble The negative undercurrents permeating the market have manifested in a precipitous decline of XRP’s price. At the time of writing, XRP is trading at a meager $0.51, representing a staggering 16% devaluation over the past month alone. This price plunge underscores XRP’s struggle to regain its footing amidst a broader market correction that has gripped the cryptocurrency space since May 2023. Institutional Investors Lose Their Appetite For XRP Adding fuel to the fire of anxiety is a noticeable decline in institutional interest. Insights gleaned from Santiment’s data point towards a palpable disinterest among entities holding significant XRP reserves. XRP market cap currently at $27.7 billion. Chart: TradingView.com Investors with holdings ranging from 100,000 to 100 XRP, typically categorized as high-net-worth individuals or institutional players, are exhibiting signs of skepticism. This trend further diminishes XRP’s allure in the market, amplifying the prevailing bearish sentiment. On-Chain Metrics Signal Trouble On The Horizon Looking deeper into the murky waters of XRP’s on-chain metrics reveals a disturbing trend – a decline in both network growth and transaction velocity. The acquisition of new users on the XRP network appears to be stagnating, coupled with a decrease in the frequency of transactions. XRP 24-hour price action. Source: CoinMarketCap This suggests a potential loss of interest among investors and a reluctance to trade XRP. However, a solitary beacon of hope shines through the gloom – a surge in long-term holders. This uptick indicates that some investors remain confident in XRP’s long-term prospects, choosing to hold onto their assets despite the current turbulence. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Development Activity Dwindles, Raising Concerns About Innovation The realm of development also paints a concerning picture for XRP. Indicators such as code commits and the number of active developers working on XRP-related projects have displayed a downward trajectory. This dearth of development activity raises concerns about a potential lack of innovation or progress within the XRP ecosystem. A stagnant ecosystem can further erode investor confidence and exacerbate the bearish sentiment surrounding the cryptocurrency. Featured image from Corporate Finance Institute, chart from TradingView

NH Management’s Tao Xiao explained that VARA’s objective is not to hinder progress but to secure the market’s integrity.

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Regulators from key crypto markets, including the United Kingdom and Spain, have also taken similar measures against misleading crypto advertisements to minimize losses from crypto investments.

Crypto analyst Josh Olszewicz is once again warning of a looming Dogecoin price crash. The analysis hinges on the Ichimoku Cloud, a comprehensive indicator that provides information on support/resistance levels, momentum, and trend direction. Olszewicz’s analysis points to two specific technical phenomena on the 1-day (1D) chart of DOGE against the US dollar (DOGE/USD). Via X, he remarked “1D DOGE: bearish TK cross + bearish Kumo breakout. Bearish Signals For Dogecoin The bearish TK cross refers to the bearish crossover between the Tenkan-Sen (conversion line) and the Kijun-Sen (baseline) within the Ichimoku Cloud system. The Tenkan-Sen, which is a faster-moving line typically calculated as the midpoint of the highest high and lowest low over the last nine periods, crossing below the Kijun-Sen, a slower line computed as the midpoint of the highest high and the lowest low over the past 26 periods, is considered a bearish signal. It suggests that short-term prices are falling below the base level of prices over the last month, indicating potential further downward movement. The Bearish Kumo breakout: The ‘Kumo’, which translates to ‘cloud’, is part of the Ichimoku Cloud indicator and is formed between two other lines: the Senkou Span A and the Senkou Span B. It represents a key area on the chart that can act as support or resistance. In the context of Olszewicz’s analysis, a ‘bearish Kumo breakout’ implies that the price has broken through the cloud downwards. This breakout is seen as a confirmation of a bearish trend. The fact that the price is below the Kumo suggests that the overall market sentiment for DOGE is negative, with the Kumo now likely acting as resistance to any upward price movement. The chart by Olszewicz shows DOGE trading at $0.15 with the cloud plotted behind the price action, appearing green above and red below the price lines. The cloud turning green represents a bullish future potential, but the price below both the cloud and the Tenkan-Sen/Kijun-Sen crossover indicates bearish current circumstances. A 40% Price Crash Looming? This gives weight to Olszewicz previous DOGE price analysis. As NewsBTC reported, the crypto analyst warned of a potential Head and Shoulders (H&S) formation on the DOGE/USD 12-hour chart which could be validated soon. The formation is characterized by two shoulders flanking a distinctive head, with the neckline at approximately $0.14 being pivotal. Should Dogecoin’s price break below this critical support, the prophecy of the H&S pattern would likely manifest, potentially triggering a sell-off towards the $0.10 to $0.09 region. This target area aligns with the 1.618 and 2.0 Fibonacci extension levels, suggesting a price crash of around 40% from the neckline. While the pattern has not yet been confirmed, with the price still above the crucial $0.14 support level, its presence serves as a cautionary signal to the market. The technical confluence of the bearish TK cross and the bearish Kumo breakout in Olszewicz’s recent analysis only reinforces the possible bearish scenario that lies ahead for Dogecoin. Market participants are recommended to keep a close watch on the $0.14 level, as a decisive break below could validate the bearish outlook and set the stage for the anticipated decline. At press time, DOGE traded at $0.1413. Featured image created with DALL·E, chart from TradingView.com