I’ve been keeping an eye on the recent developments with Lido’s Simple DVT module, and the numbers are impressive. Just recently, the module hit 2,250 validators and over 72,000 ETH staked, surpassing its initial 0.5% share limit, as noted by u/LidoFinance. Distributed Validator Technology (DVT) now powers around 0.75% of the entire Lido protocol. What’s…
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According to market analysis, XRP might be near to having a significant price blowup. The next altcoin season could go anywhere from 10x to the amazing 500x, experts believe. Two important charts by renowned market analyst Kevin Cage on XRP’s relationship with Bitcoin’s supremacy in past bull markets form the basis of this favorable prediction. The Last 2 Times $XRP Pumped Was during the previous 2 Alt Seasons when #Bitcoin was drawing higher highs first. 2017: Over 500X (over 300x with Monthly Candle Bodies) 2021: 10x (During Lawsuit & Exchange Delistings) Will history rhyme or will the future be different?… pic.twitter.com/V8nb9yh8qR — Kevin Cage (@Kevin_Cage_) October 16, 2024 Recently, financial analyst Gary Cardone generated enthusiasm within the XRP community with a cryptic tweet suggesting a possible “launch” for the cryptocurrency. Historically, Bitcoin’s market dominance has significantly influenced the performance of altcoins, such as XRP. When Bitcoin’s dominance declines, altcoins frequently experience significant increases. Related Reading: WLFI Token Launch, Backed By Trump, Falls Flat On $300 Million Fundraising Target We are waiting….I confirmed w/ authorities they are ready for you, this was the message; XRP- LAUNCH PAD IS: Green……. Proceed with launch codes….. Repeat: Launch pad is green lite for XRP. XRP may Launch. General Barnaby Anushopium https://t.co/JB2BMQDoHs — Gary Cardone (@GaryCardone) October 15, 2024 This trend was apparent in previous altcoin seasons, as XRP flourished when Bitcoin’s market dominance diminished. Proponents such as Zach Rector assert that XRP is poised for a substantial breakout, bolstering the belief that the token’s future may be promising. Historical Performance Indicates Potential Cage emphasizes two critical epochs in XRP’s history. During the 2017 bull market, XRP surged more than 500-fold, increasing from $0.006 to $3.50 by early 2018. This increase occurred as Bitcoin’s dominance decreased from 95.91% to 35.46%. Altcoins including XRP surged significantly when Bitcoin fell, grabbing the chance to shine. Though delisted from multiple exchanges and facing legal challenges from the US SEC, XRP had an incredible 10x gain in value during the 2021 bull run. It increased from $0.18 to $1.96 with a corresponding decrease in Bitcoin’s supremacy, which fell from 73.51% to 39.54%. These historical examples demonstrate a distinct trend: XRP typically excels when Bitcoin declines. Altcoin: Market Dynamics Currently, Bitcoin’s dominance is approximately 58%, having recently increased. Should its dominance begin to wane once more, according to previous cycles, XRP may be poised for another substantial price surge. A tenfold rise is possible, which would push XRP above $5. This shows that altcoin seasons are still a big reason for the token’s price changes. Even though these predictions are getting a lot of attention, it’s still not clear how much XRP will rise. Things like the present lawsuits against Ripple could change how the market works. The SEC’s recent appeal in its case against Ripple makes things more complicated. It makes the legal fight last longer and makes investors less sure of what will happen. Related Reading: Dogecoin Jumps Over 16% In The Last Week — More Gains To Come? Community Discourse And Speculation The XRP community is full of speculations. Cardone’s tweet made while using military imagery indicated some kind of upcoming development for XRP. Some members of the community seemed to take it as good news. Supporters of XRP, such as Zach Rector, interpreted Garry’s tweet as an indication of the growing recognition of the altcoin. “Gary is hopping onboard the XRP train,” he remarked. Featured image from HTX, chart from TradingView
Hamster Kombat is preparing to launch its second season, during which the platform aims to achieve integration with third-party gaming proposals. The team behind the game expects to expand beyond Telegram and allow for the sharing of items across games, thereby broadening the scope of their integration, as described in their updated roadmap. Hamster Kombat […]
Assessing potential manipulation in prediction markets is becoming increasingly important, with less than three weeks until the US presidential election.
United States congressional candidate for Virginia Bentley Hensel used an AI chatbot, “DonBot,” in place of opponent Don Beyer in a debate, highlighting AI’s increasing role in politics.
DBS Bank has launched its “DBS Token Services” for real-time blockchain payment settlements, using smart contracts for enhanced security and transparency.
Users should not click on any airdrop links shared in EigenLayer’s recent post, warned onchain detective ZachXBT.
Falconx, a digital assets prime brokerage firm, has launched a platform that automates the conversion of cryptocurrency to USD for miners. This platform aims to streamline the liquidation process, reducing delays and improving efficiency for miners. Enhanced Liquidity for Miners Falconx, the digital assets prime brokerage firm, announced on Oct. 15 the launch of a […]
Helika’s Web3 Gaming Report showed that the number of unique wallets transferring NFTs in Telegram surged from under 200,000 in July to over one million in September.
The Bitcoin price has now broken above the $68,000 mark amid a run of a 12% price increase in the past seven days. However, analysis says the Bitcoin price will not stop this surge anytime soon. According to a detailed analysis posted on TradingView, a well-known crypto analyst has shared insights suggesting that Bitcoin is on track to climb even higher to reach an ambitious target of $95,000, but USDT.D needs to break below the lower boundary of a triangle first. Interesting Take On Bitcoin Price Outlook The analyst in question, known as TheSignalyst, takes an unconventional approach to analyzing Bitcoin’s price movement by relying on a lesser-known but intriguing metric. Related Reading: XRP Price Prediction: Analysts Turn Bullish As ‘Something Big Is Coming’, Here’s What According to TheSignalyst, the USDT.D chart, which tracks the dominance of the stablecoin Tether (USDT) in the cryptocurrency market, efficiently tracks the overall sentiment of the crypto market. Though not widely used by mainstream analysts, this metric has proven useful in predicting market tops, bottoms, and future price action. According to the USDT.D chart, the USDT dominance has been playing out a descending triangle pattern since the first days of August. Since this period, the USDT dominance has ranged between 6.5% and 5.34% of the total crypto market cap up until the time of writing. As the analyst noted, as long as USDT dominance remains within the descending triangle, Bitcoin’s price is likely to continue consolidating in a range. However, TheSignalyst adds that for Bitcoin to truly enter a bullish run, the USDT dominance needs to break downward. Specifically, it would have to fall below the lower boundary of the descending triangle and drop beneath 5.2% of the total crypto market cap. What Does This Mean For The BTC Price? As the largest stablecoin, the USDT dominance can reveal a lot about the prevailing sentiment among crypto traders. High periods of USDT dominance suggest investors are pulling out of riskier assets and parking their funds in stablecoins, while a decline in the USDT dominance suggests inflows into cryptocurrencies. Related Reading: BTC Held On Exchanges Hits Lowest Point In 5 Five Years, Here’s What It Means For Bitcoin Price In the case of TheSignalyst’s analysis, the USDT dominance breaking below 5.2% would signal reduced reliance on the stablecoin and a renewed appetite for riskier assets, paving the way for Bitcoin to embark on a more aggressive upward trajectory. According to the analyst, if this scenario unfolds, it could enable Bitcoin’s price to break past the $70,300 mark in the weekly timeframe. This level sits just above a descending trendline that has been stopping Bitcoin’s momentum since April, and a successful breakout could confirm the start of a much larger rally. In the case of such a breakout, the analyst suggests a strong surge towards the $100,000 price level. At the time of writing, Bitcoin is trading at $68,100 and is about 47% away from this six-figure target. Featured image created with Dall.E, chart from Tradingview.com
