Category: Cryptocurrency News

Some Ethereum stucked on a liquidity pool. Is there a way to recover it ? submitted by /u/Constant_Broccoli_74 [link] [comments]

The Bitcoin price has cooled off after surging to as high as $71,000 on the back of the Ethereum ETF approval news last week. Not long after the price spike, the premier cryptocurrency witnessed a correction to $67,000 and appears to be back in a consolidation range. Interestingly, Bitcoin whales seem to be awakening from their slumber, as they have been loading their bags with significant BTC amounts in the past few days. This begs the question – can the returning whales’ appetite push Bitcoin to a new record-high price? Is A Return To All-Time High Imminent? A pseudonymous analyst shared in a CryptoQuant Quicktake post that Bitcoin whales are showing an increased buying appetite and getting active in the market once again. The relevant indicators here are the total whale holdings and a moving average tracking a 30-day percentage change in the balance. Related Reading: Prepare For Impact: Market Expert Says Biggest Disaster In Crypto Yet To Come Whales are entities (individuals or organizations) that own substantial amounts of a cryptocurrency (typically at least 1,000 BTC, in this case). Due to the size of their holdings, whales are often able to influence price movements and market dynamics through their activities. In the Quicktake post, the on-chain analyst noted a recent increase in the monthly percentage change in whale address holdings and a steady rise in the total whale balance. The pseundonymous pundit said: The whales’ appetite for buying Bitcoin has returned strongly, after a two-month decline in buying interest since March. From the chart above, it was observed that the Bitcoin whales had increased their holdings by more than 11% in March when the BTC price hit a new all-time high of $73,737. However, the BTC accumulation rate steadied in April, with the 30-day percentage change falling to around 3% by the end of the month. Bitcoin accumulation appears to be on the rise in May, with the monthly percentage change returning to above 5% as of May 24. The CryptoQuant analyst said in the post:  They [whales] are now returning with a strong buying force again, indicating that the current prices are suitable for purchasing and accumulating despite the widespread fear. If the whale accumulation of BTC returns to its March level, there is an increased likelihood of the Bitcoin price returning to and perhaps surpassing its current all-time high. This projection is even more plausible considering that the premier cryptocurrency did forge a new high the last time the whales accumulated BTC at that rate. Bitcoin Price At A Glance As of press time, the price of Bitcoin stands at around $69,216, reflecting a bare 0.8% increase in the past 24 hours. Related Reading: Why Did CORE Price Surge 20% While The Crypto Market Dumped? Featured image from iStock, chart from TradingView

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

Continuing raids in China on alleged underground gangs using cryptocurrency to facilitate foreign exchange transactions underscore the ineffectiveness of the Asian nation’s 2021 ban on crypto trading. Chengyi Ong, head of policy for the Asia-Pacific region at Chainalysis Inc., said the peer-to-peer nature of cryptocurrency activity renders the ban ineffective. China Remains a Significant Cryptocurrency […]

Chainlink (LINK), the oracle network powering decentralized finance (DeFi), is experiencing a solid rise, breaching a six-week high of $17.40. This surge comes amidst a wave of optimism fueled by the recent approval of an Ethereum exchange-traded fund (ETF) and speculation surrounding a potential Chainlink ETF. Related Reading: Uniswap Shoots Past $10 On 15% Price Explosion – Here’s The Trigger Transactions And DeFi Dominance Fuel Rally On-chain data reveals a strong buying sentiment for LINK, with a record 11 profitable transactions for every one at a loss. This surge in profitability coincides with the broader market’s positive reaction to the Ethereum ETF. Analysts believe this approval signals a growing institutional interest in cryptocurrencies, potentially paving the way for similar vehicles focused on specific projects like Chainlink. 🔗📈 #Chainlink has climbed well ahead of the #crypto pack, quickly surpassing $17.50 for the first time in 6 weeks. #Onchain today, there are 11 transactions in profit for every 1 $LINK transaction at a loss. This is the highest ratio since Dec. 8, 2022. https://t.co/nILlWsXWNh pic.twitter.com/joMV55V5x7 — Santiment (@santimentfeed) May 24, 2024 Tomi Point, a renowned crypto analyst, took to social media to express his belief that Chainlink could be the next beneficiary of the ETF boom. Chainlink’s role in bridging the gap between DeFi and traditional finance makes it a prime candidate for an ETF. Point highlighted Chainlink’s robust DeFi ecosystem, boasting reliable data connections to over 20 blockchains, as a key factor driving its institutional appeal. Technicals Flash Green The current market sentiment surrounding Chainlink is overwhelmingly bullish. Despite the Fear & Greed Index hovering in “extreme fear” territory, most technical indicators point towards a sustained uptrend. As of May 24th, 2024, a majority of technical analysis tools confirmed a positive outlook for LINK. Several analysts have weighed in with bullish price predictions. Digitcoinprice predicts LINK to reach $37.35 by the end of May, representing a staggering 117% increase. The overall optimistic outlook is bolstered by LINK’s impressive performance in the past month, with a price appreciation of over 16%. Chainlink Whales Pour In $16 Million More Meanwhile, this week’s bullish fluctuations in whale activity on Chainlink are another important sign that shows how popular LINK and other Ethereum-hosted cryptocurrency projects are among investors. Related Reading: Shiba Inu On The Verge Of 600% Rally? Analyst Weighs In The Santiment graphic above displays changes in the balances of LINK tokens held by the top 100 largest wallets in real time. As of May 19, the top 100 Chainlink investors held 701 million LINK tokens. By May 25, they had increased their holdings by over 1.2 million LINK, totaling 702 million. Featured image from Texture X, chart from TradingView

Bitcoin may not yet be done consolidating below new all-time highs, with BTC price rejecting above $70,000.