Category: Cryptocurrency News

EIPs Insight (January 2024) Ethereum Standards saw remarkable activity in the 1st month of the year 2024. Follow the report for details – https://hackmd.io/@poojaranjan/EIPsInsightJanuary2024 ​ submitted by /u/poojaranjan19 [link] [comments]

Dogecoin, the Shiba Inu-faced cryptocurrency born from a meme, finds itself in an intriguing scenario. Despite a recent 23% price plunge since December, the network is experiencing an unprecedented boom in user adoption, marking a fascinating dichotomy in its current state. DOGE Frenzy: Wallet Growth Skyrockets 86% On the bullish side, non-zero wallets, indicating active users holding DOGE, have witnessed a staggering 7.2% growth since January 22nd. This translates to roughly 414,000 new wallets joining the network in just two weeks, representing the fastest growth in Dogecoin’s decade-long history. These new users primarily hold smaller amounts, suggesting potential for future engagement within the ecosystem. Related Reading: Crypto Winter In Spain? New Taxes Target Digital Assets 🐶 #Dogecoin‘s value is -23% since its top on Dec. 9th. But the #memecoin‘s wallets with >0 $DOGE coins has been growing at the fastest rate in the network’s decade long history. 413.8K new wallets, mostly holding 0.001-1 $DOGE, have been added in 2 weeks. https://t.co/GjDghuB9H9 pic.twitter.com/l6Pv0KvkKW — Santiment (@santimentfeed) February 6, 2024 Furthermore, Dogecoin adoption has skyrocketed by a mind-boggling 86% in the past week, with over 890,000 new addresses appearing on the blockchain, analysts at IntoTheBlock disclosed. Analysts attribute this surge to several factors, including the revival of “Doginals” (NFTs on the Dogecoin chain), the recent release of the iconic game Doom on the Dogecoin blockchain, and the growing popularity of Xpayments, a platform enabling DOGE transactions in the real world. Dogecoin’s Challenge: Balancing Growth And Stability This price volatility highlights a key challenge for Dogecoin: balancing user growth with sustainable value appreciation. While the increasing user base indicates potential for future adoption, the lack of diverse use cases and inherent inflationary nature might hinder long-term price stability. Unlike Bitcoin with its capped supply, Dogecoin has an inflationary model, meaning new coins are continuously created, potentially impacting its value. Dogecoin currently trading at $0.07834 on the daily chart: TradingView.com Major Backers For The Meme Coin Meanwhile, SpaceX – the leading private space exploration company – threw its weight behind Dogecoin by accepting it as payment for the rescheduled DOGE-1 Moon mission. This endorsement not only adds legitimacy to the meme coin but also injects a dose of excitement into the community. Geometric Energy Corporation, the mission’s sponsor, revealed they paid SpaceX in DOGE to secure a new launch date following a delay. While the exact timing remains shrouded in mystery, the news has undoubtedly bolstered community sentiment. However, amidst the user boom, Dogecoin’s price performance paints a contrasting picture. As of February 6th, DOGE is trading at $0.078, reflecting a 0.3% decrease in the last 24 hours and a 3.48% decline over the past week. This dip extends to a 2.77% loss for the month, marking a significant drop from its December peak. Related Reading: Meme Coin Blues: Nearly 70% Of Shiba Inu Investors Underwater As Price Flops Featured image from Adobe Stock, chart from TradingView

In a technical analysis, crypto analyst Dark Defender has provided a bullish perspective on the XRP price action, indicating that the cryptocurrency is on the cusp of a potential breakout. The analysis presented is based on a daily chart that encapsulates several advanced technical indicators and theories. Why A XRP Price Breakout Is Imminent The core of Dark Defender’s analysis is the completion of a five-wave corrective structure, as posited by Elliott Wave Theory. This theory suggests that markets move in repetitive cycles, with the five-wave pattern indicating a correction following a larger trend. In XRP’s case, the waves numbered (1) to (5) illustrate a complete correction within a larger bullish context. The implication is that the completion of this pattern could lead to the start of an impulsive, upward wave sequence. Dark Defender points to the critical support level at $0.4623, a value derived from Fibonacci retracement analysis. Fibonacci retracements are based on the idea that markets will retrace a predictable portion of a move, after which they will continue to move in the original direction. The $0.4623 level appears to be a strong area of buyer interest, representing a potential reversal zone. Related Reading: XRP Price Retreats To $0.50 As Whale Unloads 30 Million Tokens – Details On the resistance side, two levels are highlighted. The first is set at $0.5286, which is the 50% retracement level from the previous high. This price point acts as an interim hurdle for XRP’s price, serving as a barometer for short-term sentiment. A more significant resistance is noted at the 70.2% Fibonacci level of $0.6649. A break above this level could be a strong indication of bullish momentum and may attract further buying interest. The chart also incorporates the Ichimoku Cloud, which is currently acting as dynamic resistance. The Ichimoku Cloud is a multifaceted indicator that provides information on support and resistance, trend direction, momentum, and buy or sell signals. A decisive breakout above the cloud would suggest a change in trend favoring the bulls. Remarkably, the Ichimoku Cloud aligns with a descending trend line (red line). A break above both indicators could spell strong bullish momentum. Related Reading: WHAT IS XRP LEDGER (XRP)? Another compelling aspect of the analysis is the RSI breakout and subsequent retest. The RSI is a momentum oscillator used to identify overbought or oversold conditions. In XRP’s case, the RSI had previously been in a downtrend, indicating persistent selling pressure. However, the recent ‘break and back test’ pattern in the RSI, where the price breaks through a resistance level and then retests it as support, demonstrates a potential shift in momentum from bearish to bullish. Dark Defender’s analysis indicates that the combination of a completed corrective structure, a supportive RSI movement, and the challenge of key Fibonacci levels suggests that XRP is primed for an upward trajectory. His closing statement, “And come on, XRP, it is time for you to Move!” encapsulates the anticipation of a bullish phase for XRP in the near future. At press time, XRP traded at $0.50261. Featured image created with DALL·E, chart from TradingView.com

Just got a deposit on Kraken, which I used 2 years ago. I only got a RefID. What can I do with this info? How to track from whom it is? submitted by /u/Fatjuice [link] [comments]

submitted by /u/Ilovekittens345 [link] [comments]