Category: AI

MooDeng\'spopularityunderscoresthegrowingtrendofmemecoinsinastableBitcoinmarket. KeyTakeaways MooDengisthemostpopularmemecoinamongnon-expertcryptoparticipants. Bitcoin\'sstabilityhashelpedfosterathrivingmarketformemecoins. Rasmr,awell-knowncryptoTwitterKOL,recentlyconductedasurveyaskingnormies—peoplenotdeeplyinvolvedincryptoormemecoins—whichmemecoinwastheirfavorite. Sincememecoinsoftengainpopularityduetotheirviralnature,thesurveyaimedtopredictwhichcoinscouldcapturemassappeal. RasmrtweetedthatMOODENGwasthenumberonememecoinvotedbynormies,withBILLYinsecondplace,GIGAinthird,SIGMAinfourth,andMICHIinfifth. Othernotablementionsfromthelistof20includedPopcat,FWOG,GOAT,LOCKIN,Pepe,Trump,andWif. TheproliferationofmemecoinshassurgedasBitcoinhasremainedstrongdespitepoliticaltensionsintheMiddleEastanddecisionsbytheFederalReserve. Forthepasteightmonths,Bitcoinhastradedwithinatightrangebetween$50kand$69k,signalingastablemarket. Bitcoin’sresiliencehascreatedanenvironmentwhereothercoins,particularlymemecoins,havethrived.Manyofthesememecoinshaveseenoutstandinggains,withsomeexperiencing1000xgrowthinjustafewdays. Asretailinvestorsseekhigherupsideopportunities,memecoinshavebecomeincreasinglyattractive. PlatformslikePump.funandthenewlyreleasedApePromakeiteasierforanyonetocreateanddeploymemecoinsonSolana,whichisrecognizedforitslowfeesandstrongassociationwithmemecoinprojects. Solana’sreputationasthememecoinblockchainhasdrawnafloodofretailparticipants,helpingsomeofthesecoinsreachsignificantmarketcapsandevenenterthetop100bymarketcap. cryptobriefing.com

Ethereum’sshifttoproof-of-stakeandthesuccessful2023upgradeincreasedconfidenceamonginvestors. Tetheroffersstabilityasatopstablecoin,andstakingUSDTcanprovideconsistentrewardsdespitefluctuatingmarketdemand. CardanoandAvalanchepresentviablealternativestoEthereum,withCardanoexcellinginefficiencyandAvalancheofferinghightransactionoutput. Investorscontinuetoinvestinstakingcryptocurrenciesmoreandmore,andasaresult,theyarelookingforstablecoinsandblockchainnetworksforstakingtoearnpassiveincome.Outofallthosetokens,Ethereum(ETH),Tether(USDT),Cardano(ADA)andAvalanche(AVAX)remainparticularlyattractiveintheeyesofstakers. Ethereum(ETH):ATopInvestmentOptionAfterTransitioningtoPoS Currentprice:$2,620.79 Marketcap:$315.64B EthereumswitchedtoProofofStake(PoS)in2022toimprovetransactionspeedsandscalabilityofdecentralizedapplicationsandsmartcontracts.LiketheJanuaryupdate,allowingwithdrawalsofstakedETHfollowingtheApril2023Shanghai-Shapellaupdatereinforcedinvestors’confidenceanddidnotcauseamassiverushtoexit.Therefore,Ethereumhasremainedanimportantlong-terminvestmentduetothestrengthsofitsnetworkandendlessdemandforETH. Tether(USDT):AboutStabilityinaVolatileMarket Currentprice:$0.9994 Marketcap:$119.66B Tetherhasnotchanged:thestablecoinhasananchoredvalueof$1.Inparticular,Tetherisalreadyknownasthefirstandforemoststablecoinbyusage,andtradersuseitasanelementofinsuranceagainstspikesinthecryptocurrencymarket.Also,Tethercanbestakednotonlyononesingleplatformbutwithratherhighinterestrates.Nevertheless,thebacklogremainsmostlystable,andsignificantly,themarketdemandforTethermayaffectitsmarketcapitalization.Theinvestorshouldconsidertheplatform-specificpoliciesonTetherstaking,Touchrewardrates,andthemechanisms. Cardano(ADA):AnEfficientBlockchainWithGrowingAppeal Currentprice:$0.3619 Marketcap:12.65B Cardanohasabout32timesthetransactionspeedofEthereum,requireslowernetworkfees,andstandstobemorescalable.ItisbuiltonADAasanativetoken,operatinginspecializedmarketssuchasanti-counterfeitingandcredentialingservices.StakingADAisnotcomplicated,andmostexchangeplatformsofferthisservice.AlthoughitspopularityhasdeclinedcomparedtoEthereum,Cardanoisprogressingbecauseofitsmuchlowerfeesandspecificapplication. Avalanche(AVAX):AStrongCompetitorintheBlockchainSpace Currentprice:$29.16 Marketcap:$11.86B AvalancheoffersahighertransactionoutputthanEthereum,processingupto6,500transactionspersecond.Thisisachievedthroughitsuniquearchitecture,dividingitsnetworkintothreedistinctblockchains:WehavetheX-chain,theC-chain,andtheP-Chain,eachwithauniquefunction.EstablishedinFebruary2020,AvalanchehasbeenenlargingitsecosystemandsynchronizingwithEthereumprojectsandstandards.Ithasgrownquickly,makingitamajorcontributortodecentralizedfinance(DeFi)andblockchain. cryptonewsland.com

MANEKIhasbecometheprincipalsponsorforSheffieldUnited,debutingontheirjerseysduringthe2024/25season. Thepartnershipmarksasignificantcryptosponsorship,followingtheFA’sbanonbettingcompaniesinEnglishfootball. SheffieldUnited’shistoricBramallLanestadiumwillserveasthestageforintroducingMANEKItothousandsoffootballfans. SheffieldUnitedandManeki,theSolana-basedmemecoin,havepartneredtobecometheshirtsponsorsforthenewseason2024/25.FromOctober18,whenSheffieldUnitedplaysLeedsUnited,thespecialManekilogowillfeatureontheBlades’classicredandwhitecolor. We\'reproudtoannounceMANEKIasthePrincipalPartnerandofficialshirtsponsorofSheffieldUnitedforthe2024/25season! TheMANEKIlogowillfeatureprominentlyontheBlades\'iconicredandwhiteshirts,startingtomorrowagainstLeedsUnitedonSkySportsMainEvent.…https://t.co/gOfxHgWwRTpic.twitter.com/106JML1fxc —MANEKI(@UnrevealedXYZ)October17,2024 ASignificantMilestoneforManeki ThispartnershipmarksamajormilestonefortheManekibrand,gainingofficialapprovalfromtheFootballAssociation.ThecollaborationintroducestheManekilogotoawideraudience,allowingthebrandtomakeitsmarkinEnglishfootball. Theaimistoengagemorethan32,000fansofoneoftheoldestfootballstadiums,BramallLane,andsportsfansacrosstheUnitedKingdom.Thissponsorshipisaimedatexposureandenteringtheworldofsportsmarketing.Maneki’suniquebranding,featuringacatemblem,positionsitasastandoutamongtraditionalsponsors. TheentryofManekiintotherealmoffootballsponsorshipfollowstheEnglishFootballAssociation’srecentbanonbettingcompaniesfromteamsponsorships.Asaresult,variouscryptocurrencyprojectshaveemergedtofillthisgap,seizingmarketingopportunitieswithinoneoftheworld’smostpopularsports.Therecenttrendshowsthatweb3firmsareincreasinglyinvestinginpartnershipswithPremierLeagueandBritishclubs,spendingarecord$170milliononsuchagreements. TheRiseofMemeCoinsinSportsMarketing Thetrendofcryptoandmemecoinsponsorshipsispoisedforgrowthasmoreprojectsseektocapitalizeonthevisibilitythatsportsprovide.ThepopularityofmemecoinslikeManeki,makesthemappealingcandidatesforpromotionalagreements.Wintermutehasreportedthatthesememecoinsaccountforover40%ofSolana’stradingvolume,showcasingtheirimpactinthecryptospace. ThepartnershipwithSheffieldUniteddemonstratesashiftinhowsportssponsorshipsareevolving,integratingcryptocurrencyintomainstreamsportsculture.Astheseasonunfolds,fansand$MANEKIholderswillhavetheopportunitytoshowcasetheirsupportwithnewSheffieldUnitedshirtsfeaturingthedistinctiveManekilogo,availablenowattheBladesSuperstoreandonline. cryptonewsland.com

Thelatestdatarevealsthetopcentralizedexchangesbyweeklytradingvolume.Thetotaltradingvolumeacrossallexchangesis$166.27billion.Binanceleadsthelistbyalargemarginwith$83.9billionintradingvolume.ThisshowsthatBinancecontinuestobethedominantplayerinthecryptomarket,accordingtoPhoenix,acryptomediaoutlet. TOPCENTRALIZEDEXCHANGESBYWEEKLYTRADINGVOLUME#Binance#Cryptocom#Bybit#OKX#Coinbase#GateIo#MEXC#Upbit#HTXpic.twitter.com/yeiHpTPI94 —PHOENIX–CryptoNews&Analytics(@pnxgrp)October17,2024 Crypto.comSecures2ndPlacewith$27.5BinWeeklyTradingVolume,FollowingBinanceFromADistance Crypto.comoccupiesthesecondplacewithassetsof$27.5billion.Thisisagoodperformancefortheexchange,meaningthatithasagoodnumberofitsusers.Bybitcomessecondwith$20.8billionandhasbecomeoneofthetopexchangesfortraders.However,ithasbeenabletoretainlargevolume,whichisanindicationofgrowth. Moreover,OKXhasatradingvolumeof$12,200million.Itisstillamongtheleadingexchangesforthemarketwhichoffersaplethoraofservicesrelatedtocryptocurrencies.Coinbasecomessecondtoclosebehindwith$11.5billion.Coinbaseremainsthedominantmarketplayertothisdate. Gate.iotakesthesixthpositionwith$10.6billionintheweeklyturnover.Thisistheexchangethatisstillattractiveforuserswhowanttodiversifyandhaverelativelylowtradingfees.ThelasttopexchangeinthelistbytradingvolumeisMEXCwith$1.61billion.Despiteithasfarfewertradingvolumecomparedtothetopfiveexchanges,MEXCstillhasanotableposition. CryptoMarketReaches$166.27BWeeklyTradingVolumeasExchangesCompeteforUsers Upbitshows$1.56billioninweeklytradingvolumeandranksbelowMEXC.Itiswidelyknowninsomemarkets,particularlytheSouthKoreanmarket.HTXcompletesthelistwith$1.57billioninweeklytradingturnover.HTXissmallasitmaybeintermsofthevolumeithandlesbutitisamongthebiggestexchangesintheworld. Finally,Binanceretainsthedominanceithasbeenenjoyingthroughoutthisanalysiswithanaverageofover50%ofthetotaltradingvolume.PhoenixalsorevealsthatCrypto.com,Bybit,OKX,Coinbasedisplayssimilartrends.However,thedisparityofthevolumebetweentheleadingandtheleast-rankedexchangesdemonstratesasoundandexpandingmarketof$166.27billion.Theseplatformsarecloselycompetingwitheachotherwithmoremarketsharegrabbingbeingthemaingoal. blockchainreporter.net

Bitcoincontinuestoleadthemarket,maintainingstabilityasitfacesdiscussionsonsustainabilityduetoitsProofofWorkmechanism. Ethereumremainsakeyplayerindecentralizedfinance,buthightransactionfeesduringcongestionsignaltheneedforimprovedscalability. MemecoinslikeDogecoinandShibaInuattractretailinvestors,whileCardanoandAvalanchefocusonscalability,security,andfasttransactionspeeds. Q32024alsocontinuestobeverydynamicforthecryptocurrencymarket,whereinthemaincoinssetthepace:Bitcoin,Ethereum,Dogecoin,ShibaInu,Cardano,andAvalanche.Eachofthemisdifferentininnovativenessandadoptionlevel,whichcontributestothecryptolandscapedifferently. Bitcoin(BTC)CementsMarketLeadership Currentprice:$65,956.56 Marketcap:$1.30T BitcoincontinuedtoenjoyitsstatusasthemostprominentcryptocurrencyinQ32024.TheunderlyingPoWconsensusalgorithmhasenabledBitcointomaintainitsstatusasasecure,decentralizedstoreofvalue.Minersinthenetworkareincentivizedtodotheirjobofverifyingtransactionsinsuchawaythattheintegrityoftheblockchainisnottamperedwith.However,debatesaboutthesustainabilityofBitcoinhaveemergedwithitsdependenceonenergy-intensivePoW.Atthesametime,duetoitsalreadyestablishedreputation,itstillattractshugemarkettrustandinvestorinterest. Ethereum(ETH)RevolutionizesDecentralizedFinance Currentprice:$2,605.68 Marketcap:$313.83B EthereumholdsfirstplaceinthefieldsofDeFianddApps.ItsincrediblesmartcontractpotentialhasmadeEthereumindispensableforthearmyofdevelopersandfounders.TransitioningtoaPoSmodelprovidedevengreaterefficiencyandsafetyforitsnetwork.Inanycase,whentheloadonthenetworkisatitsmaximum,thenetworkfacesscalingissues.Forbettertransactionspeedandlowerfees,second-layersolutionsaredevelopedinordertokeepupthestatusofEthereumasthemainblockchainplayer. Dogecoin(DOGE)InvestorsAreinLove Currentprice:$0.1148 Marketcap:$16.77B Dogecoinisamongthemostpopularcryptocurrencies,ifnotthemostpopular,anditreallyseemsthatretailinvestorsandthecommunityofmemecoinsabsolutelyadoreit.Whileitscreationwasafarce,socialmediahypeandcelebritieslikeElonMuskhavemadesureitsawmassivesuccess.WhileDogecoindoesnotreallycarrymuchintrinsicvalueoutsideofitsveryactivecommunity,thewideappealandhighlyrecognizablebackershavemanagedtokeepitrelevantinthemarket. ShibaInu(SHIB)StrongBrand Currentprice:$0.00001831 Marketcap:$10.79B ShibaInuisyetanotherpopularmemecoin,whileinQ3,2024,thecryptocurrencyisstillindemandbecauseofitslargecommunitybaseandmemevalue.ItsdevelopershavealreadyrolledoutShibaSwapasameansofcontinuingtoexpandthebrand’secosystemevenmoreinteractively.Onthesamenote,muchlikeDOGE,ShibaInuhasrampantvolatilityand,ingeneral,alackofmainstreamusecases-whichonlymakesitaspeculativeasset.ShibaInumightstarttoappearontradingserviceslikeRobinhood,whichmightincreaseaccesstothedigitalcurrencyandthusitstradingvolume.Itwillbeimportantforinvestorstobeveryawareofpotentialsharppriceswings. Cardano(ADA)focusesonscalabilityandsecurity Currentprice:$0.3605 Marketcap:$12.60B Cardanoisadigitalcurrencythathasbeendevelopedwithanemphasisonscalability,energyefficiency,andsecurity.Particularly,theProofofStakealgorithmisdesignedtohandleahighvolumeoftransactionswithlessenvironmentalimpact.CardanoHaskellprogramminglanguageisappliedforitsconstructiontoguaranteesafeandreliablesmartcontracts.WhileCardanohasn’tmanagedyettojointhemainstreamlikeEthereum,thevirtualplatformremainsoneofthemostpromisingoneswhenitcomestodAppsdevelopmentandinnovation. Avalanche(AVAX)SpeedandEfficiencyareKeyFocus Currentprice:$29.56 Marketcap:$12.02B Avalanche,alsoreferredtoasAVAX,hasbeenobservedtobecapableofprocessingthousandsoftransactionspersecond.Thisblockchainis,therefore,amongthefastestintheworld.Theplatformismulti-functionalsinceithostsnumerousdecentralizedapps,supportsbothpaymentandstaking.Asaresult,thisisoneofthebestplatformsfromadeveloperanduserstandpoint.ThenormallydecentralizednatureofAvalanche,withitsactiveparticipationrewardingsystem,encouragesmoreinvolvementintotheecosystem,henceanotherfactorcontributingtoitsdevelopment. cryptonewsland.com

TheAptos(APT)pricehassurgedby24%overthelastsevendays,raisingquestionsaboutwhetherthisuptrendcanbesustained.Whilerecentgainshavebeenimpressive,thetechnicalindicatorsarestartingtoshowmixedsignals. WhetherAPTcanpushhigherorfaceacorrectionwilldependonhowthesetrendsunfoldinthecomingdays. APTRSIIsFarFromOverbought Aptos(APT)RSIiscurrentlyat53.75,droppingfrom76justfourdaysago.Thisdeclinesuggestsareductioninbuyingpressurecomparedtorecentpeaks,signalingapotentialcoolingperiodinmarketactivity.However,thecurrentRSIlevelstillshowsaneutraltomildlybullishoutlook. RSI,orRelativeStrengthIndex,isamomentumindicatorthatmeasuresthespeedandchangeofpricemovements.Itrangesfrom0to100,withvaluesabove70indicatingoverboughtconditionsandbelow30suggestingoversoldconditions.AnRSIaround50reflectsabalancedstate,wherebuyingandsellingpressuresarenearlyequal. AptosRSI.Source:TradingView APT’sRSIat53.75pointstoamarketthatisnotyetoverextendeddespiterecentgains,whichsawAPTpriceriseby24%injustoneweek.ThislevelsuggeststhattheuptrendmaystillhaveroomtogrowastheRSIremainsbelowtheoverboughtthresholdof70. Ifbullishmomentumresumes,APT’spricecouldcontinueclimbing,potentiallypushingtheRSIhigherwithoutimmediatelyriskingareversal.Thispositioningallowsforfurthergrowthbeforereachingalevelthattypicallysignalscaution. IchimokuCloudShowsAptosSurgeCouldBeOverForNow TheIchimokuCloudchartforAptossuggestsagenerallybullishtrend,asindicatedbypricelevelscurrentlytradingabovethegreencloud(kumo).Thisconfigurationimpliesthatmarketsentimentispositiveandbuyersareincontrol.Thecloudactsasasupportzone,andwithpricesaboveit,APTisdemonstratingresilienceandstrengthinitsrecentpriceaction. Additionally,theleadingspanA(green)isaboveleadingspanB(red),whichreinforcesthebullishsentimentandpointstopotentialsupportintheeventofanyshort-termpricedips. AptosIchimokuCloud.Source:TradingView TheTenkan-sen(blueline)andKijun-sen(redline)arealsoshowingmixedsignals.WhiletheTenkan-senremainsslightlyabovetheKijun-sen,indicatingthatthemomentumisstillbullish,theirrecentconvergencesuggestsalossofmomentum.IftheTenkan-sencrossesbelowtheKijun-sen,itcouldsignalapotentialtrendreversaloratleastaweakeningofthecurrentuptrend. Additionally,thegreenChikouspan(laggingline)isabovetheprice,whichsupportsacontinuedbullishoutlook,buttradersshouldwatchforanychangesthatcouldsignalapullback.Overall,theIchimokuchartsignalsthatAPTremainsinabullishposition,butthenarrowinggapbetweenkeylinesindicatesthatmomentumcouldbewavering. APTPricePrediction:TheCoinCanSurge76%IfThisHappens APTEMAlinesarecurrentlybullish,withshort-termlinespositionedabovelong-termones.However,thedistancebetweentheselineshassignificantlynarrowed,indicatingthatbullishmomentummightbeweakening.Whenthegapbetweenshort-termandlong-termEMAsshrinks,itoftensignalsthatthetrendcouldbelosingstrengthandmightsoonreverse. EMAlines,orExponentialMovingAverages,helpidentifythedirectionandmomentumofpricetrendsbygivingmoreweighttorecentdatapoints.InAPT’scase,thecurrentEMAsetupreflectsanongoinguptrend,butthediminishingseparationsuggeststhatthemarket’sstrengthmaybefaltering. AptosEMALinesandSupportandResistanceCloud.Source:TradingView Ifthecurrentuptrendholds,APTcouldsurgeto$14.42,andbreakingthatresistancemightpropelthepriceto$17.89—itshighestlevelsinceApril1.Suchamovewouldrepresenta76%gainforAPTprice,showingthebullishpotentialifmomentumremainsstrong. However,asindicatedbyboththeIchimokuCloudandEMAlines,theuptrendcouldbegettingweaker.Ifthetrendreverses,APTpricemighttestsupportlevelsat$8.45orevenfallto$7.86. beincrypto.com

Injective(INJ)brieflysurgedtoa16-dayhighof$23.09onThursday,followingitslistingonSouthKorea’sleadingcryptoexchange,Upbit.Sincethen,thepricehascorrectedby7%andisnowtradingat$21.28. Despitethepullback,bullishsentimentaroundthisLayer-1(L1)coinremainsstrong.INJispositionedtoretestthisrecenthighandpotentiallyrallybeyondit.Thisanalysisdelvesintowhatinvestorscanexpectasmomentumbuilds. InjectiveHasUpbitToThank InaThursdayannouncement,UpbitrevealedthatitwillsupportINJtradingonitsplatformacrossbothKoreanWon(KRW)andUSDTmarkets.Thisimmediatelypromptedasurgeinthecoin’stradingactivity,pushingitspriceto$23.09,itshighestsincethebeginningofOctober. Althoughtheuptickwasbrief,andINJnowtradesat$21.28,INJ’stechnicalsetupsuggeststhatitmayreinitiatetheuptrend,reclaimthishigh,andevensurpassit.Readingsfromitsmovingaverageconvergence/divergence(MACD)confirmthisbullishoutlook. Asofthiswriting,thecoin’sMACDline(blue)ispositionedaboveboththesignalline(orange)andthezeroline.TheMACDindicator,whichtrackspricetrendsandmomentum,helpsidentifypotentialbuyorsellsignals. INJMACD.Source:TradingView Thissetupindicatesastrongbullishtrend,suggestingthatmomentumispositiveandtheassetisinanuptrend,withtheshort-termaveragenotablyhigherthanthelong-termaverage. Further,INJ’sopeninteresthasspikedby19%overthepast24hours,reflectingtheuptickinitsmarketactivity.Asofthiswriting,thisstandsat$95.17million. Anasset’sopeninterestrepresentsthetotalnumberofoutstandingderivativecontractsthatremainunsettledoropen.InINJ’scase,therisingopeninterestaccompanyingitspricesurgesuggeststhatnewcapitalisenteringthemarket,withtradersactivelytakingpositions.Thisisasignofastrengtheningbullishtrend. INJOpenInterest.Source:Santiment INJPricePrediction:WhytheBullsAreNeeded The$22.01levelservesasakeyresistanceforINJ,withthecoincurrentlytradingat$21.28,justbelowthismark.Ifbullishmomentumpersists,breakingabovethisresistancecouldtriggera54%rally,potentiallypushingthepriceto$33.38—alevellastseeninJune. INJPriceAnalysis.Source:TradingView Ontheotherhand,ifprofit-takingintensifies,INJcouldfallto$15.79.Failuretoholdthissupportmayresultinafurtherdecline,withthepricepossiblydroppingto$13.50. beincrypto.com

AnalystsfromcryptocurrencyanalysiscompanySantimenthavepublishedalistofaltcoinsthathaveexperiencedthemostgrowthasnewnetworkaddresses. Inthelistwherethedataofthelastweekisevaluated,thenumberofnewlycreatedaddressesranksthegrowthofthenetworksinquestion. AccordingtoSantimentanalysts,cryptocurrencyprojectsthatsteadilyincreasetheirusageareasandusernumbersthroughnewwalletshaveahigherprobabilityoflong-termmarketvaluegrowth. Herearethecryptocurrencyprojectsthathaveexperiencedthehighestnetworkgrowthinthelastweekandtheirtotalnetworksizescores. AaveonOptimismNetwork(AAVE)–675.31% KuCoinToken(KCS)–383%,29 Ethena(ENA)–216%,348 pufETH(PUFETH)–206%,95 AIOZNetwork(AIOZ)–173.71% WrappedeETH(weETH)–148,129% Frax(FRAX)–120%,11 Maker(MKR)–102%,150 Beam(BEAM)–100%,148 Chainlink(LINK)–100%,14 RAYDIUM(RAY)–100%,2 However,itshouldnotbeassumedthatthenetworkgrowthexperiencedbythesealtcoinswilldefinitelybereflectedintheirprices. *Thisisnotinvestmentadvice. en.bitcoinsistemi.com

Thedecentralizedfinanceecosystemcontinuestogrowdespiterecentchallengesasoverallcryptousagehitsrecordlevels,venturecapitalfirmAndreessenHorowitz(a16z)saidinanewreport. Inits“StateofCrypto”reportpublishedonOct.16,a16znotedthatthecryptoindustryhaswitnessedamajorspikeinactivityoverthepastyear.Thegrowthtrajectoryfortheindustryis“reminiscentofearlyinternetadoption.” Forinstance,September2024saw220millionaddressesinteractwithprotocolsacrosstheblockchainecosystem—morethantriplethefiguresrecordedinlate2023.About100millionoftheseactiveaddresseswereonSolana(SOL),ablockchainnetworkthathasregisteredamassivespikeinactivity. AswellasSolana,othernetworkstoseeasignificantincreaseinactiveaddressesareNearProtocol(NEAR),Coinbase’slayer-2networkBase,Tron(TRX)andBitcoin(BTC). Stablecoinandcryptoregulation Thereportalsohighlightedseveralgrowthmetricsandkeyissuessurroundingthecryptoindustrysincea16z’sfirstStateofCryptoreportin2023. OnemajortakeawayisthatcryptohasbecomeasignificantpoliticalissueamidtheU.S.election.However,theUnitedStateslagsbehindtheEuropeanUnionandtheUnitedKingdominpublicengagementregardingcryptoregulation. Themarkethasalsoseenconsiderabledevelopmentsaroundstablecoins,includingtheirregulationandusage.Notably,stablecoinshavegrowntobecomeoneofthetop20holdersofU.S.Treasurysecurities,withaCoinbasereportshowingmarkedgrowthinQ3,2024.MajorplayersincludeTether’sUSDTandCircle’sUSDC. Additionally,infrastructureimprovementsandtheincreasingintersectionofblockchaintechnologyandartificialintelligencehavefurtherbolsteredtheindustry’sgrowth. DeFicontinuestogrow DeFihasbeenoneoftheareasofcryptothatsawthemostusageacrossdailyactiveaddressesinthepastyear. “SinceDeFi’sarrivalinthesummerof2020,decentralizedexchanges,orDEXs,havegrowntoaccountfor10%ofspotcryptotradingactivity—allofwhichoccurredoncentralizedexchangesjustfouryearsago,”thereportsreads. DeFiprotocolsacrosstheecosystemnowaccountforover$169billionintotalvaluelocked.TopplatformsincludeLido,Aave,Uniswap,EigenLayer,WBTC,andether.fi.Thesedecentralizedplatformscontinuetoattractusersastraditionalfinancialinstitutions,suchasU.S.banks,faceongoingchallenges. Accordingtoa16z,topblockchainsintermsofbuilderactivityorinterestincludeEthereum(ETH),SolanaandBitcoin. WhileEthereumstillattractsthemostdeveloperactivity,with20.8%ofbuilders,Solanahasseensignificantgrowthinthissector,increasingfrom5.1%in2023to11.2%in2024. Basealsorecordedanotablejumpindeveloperactivity,risingfrom7.8%to10.7%year-over-year.Bitcoin,whichhasregisteredasurgeinDeFi-relatedactivity,sawanincreaseinbuilderinterestfrom2.6%to4.2%. crypto.news

DespiteXRPpricestagnationrecently,somemarketanalystsmaintainanoptimisticoutlook,suggestingtheRippletokencouldseea1000xincrease,pushingitsvalueto$500.Whileambitious,thistargetraisesquestionsaboutthelikelihoodofsuchgrowthandthefactorsthatcoulddriveit. Isa1000xIncreaseinXRPPriceEvenFeasible? A1000xsurgeinXRPpricecouldberealizedifthebroadercryptomarketseessubstantialexpansion.However,achieving$500perXRPwouldresultinamarketcapitalizationofawhopping$28.3trillion,basedonthecurrentsupplyof56.65billioncoins.Suchafigurefarexceedstoday’stotalcryptocurrencymarket,valuedaround$2.3trillion. Thoughimprobableintheshortterm,manyanalystsbelievelong-termgrowthinthecryptospacecouldallowXRPtoapproachthispricetarget.RippleCEOBradGarlinghouserecentlystatedthatthetotalmarketvaluecoulddoublebytheendoftheyear,reaching$5trillion.Thiswouldmarkasignificantstepforwardbutwouldstillfallshortofwhat’sneededforXRPtohittheproposedprice. ForXRPpricetoreachsuchheights,reducingthetotalcirculatingsupplymaybecritical.SomeintheXRPcommunityhavecalledforRippletoburnportionsofitsescrowedtokenstoshrinksupplyandincreasescarcity.Thismove,proponentsargue,couldstimulateapricesurge.However,withoutsustaineddemand,tokenburnsalonewouldnothaveasignificantimpact. AnincreaseindemandmaybeonthehorizonwiththepotentialintroductionofspotXRPETFsbyBitwiseandCanaryCapital.Suchfundscoulddrivehigherdemandfortheasset,creatingtheconditionsnecessaryforadramaticpricerise. Don’tgiveupon$XRPat$0.55 Don’tgiveupon$XRPat$0.80 Don’tgiveupon$XRPat$1 Don’tgiveupon$XRPat$3 Andyou’llberewardedby$XRPat$10 Rewardedby$XRPat$20 Rewardedby$XRPat$50 Rewardedby$XRPat$100 Rewardedby#XRPat$1,000 ♻️and❤️… —BarriC(@B_arri_C)October14,2024 AccordingtoBarriC,acryptoanalyst,approvalofanXRPETFcouldpropelthetoken’spricetoashighas$1,000.HehighlightedthepotentialformassivegrowthforXRPpriceifinstitutionalinvestmentfollowsintosuchETFproducts. ConditionsThatCouldDriveXRP’sRise TheapprovalandsuccessofUS-basedXRPETFscouldserveasapivotalfactorintriggeringsubstantialpricegains.Thesefinancialproductscouldintroduceanewwaveofinstitutionalinvestors,potentiallyleadingtoasupply-demandimbalancethatdrivesthepriceupwards. Ripple’sstrategicfocusonusingXRPasthebackboneofitspaymentsolutionsalsopresentsopportunitiesforgrowth.BychallengingtraditionalplayerslikeSWIFTinthecross-borderpaymentsmarket,Ripplecouldsecurealargershareofglobaltransactions,fuelingdemandforXRP. However,ongoinglegalchallengesposeabarriertothesedevelopments.ThelengthybattlebetweenRippleandtheU.S.SecuritiesandExchangeCommission(SEC)continuestocreateuncertainty,particularlyintheU.S.market.Ripple’sChiefLegalOfficer,StuartAlderoty,hasindicatedthatthecasemayextendinto2025or2026,delayingpotentialmarketexpansion. Thus,fornow,XRPprice’spathtoa1000xincreaseremainshighlyspeculative.However,thepositivefactorsinplaycouldalignforsubstantialgrowthovertime. cryptonewsz.com