Category: AI

NeiroCoin(NEIRO)hascapturedtheattentionofthecryptomarket,experiencingawhopping4,608%increaseinvaluewithinamere30days.Thememecoin’sextraordinary48xreturninasinglemonthwasaresultofitsprecipitousrisefrom$0.000039to$0.002. Neiroexplodesinpriceinthelastmonth.Source:Coingecko Despitethisdramaticrally,thecoinhassloweddownitsmomentum,losing15%fromitspeakof$0.0022.PriceforecastfromCoinCodexstillcallsforfurtherincreasesinthefutureforthecryptocurrency,foreseentoreach219%,gettinguptoapriceof$0.019284byNovember2024,astradersstartwonderingifthisisonlythebeginningofamuchmoremassivedrop. Intheshortterm,tradersareconcernedwithwhetherNeiro’sretracementistemporaryorifthememecoinhasreacheditsmaximumpotential.However,thislong-termforecastindicatesthepossibilityofsubstantialupside. RetracementStrikesCriticalSupport Neiro’srecentdropinpricecoincidedwithadailybullishorderblock,causingthepricetofalltoacriticalsupportlevel—the23%Fibonacciretracementarea—atthetimeofpublication.Theselevelsareessentialbecausetheyhavethepotentialtoprovidethenecessarysupporttopreventfurtherdeclines.Thebullswouldproceedtothe37%Fiblevelastheirsubsequentlineofdefenseiftheretracementpersists. Neiro’sstochasticRSIindicatesanoversoldcondition,whichsuggestsapotentialrebound.Furthermore,theRSIcontinuestoexceedtheneutral50level,whichservestobolsterthelikelihoodofapricereversal.Ifmomentumreturns,someanalystspredictthatNeirocouldincreaseto$0.0027,whichwouldbea20%increasefromitscurrentvalue. LongsPredominate,ButSentimentIsNeutral Marketsentimentremainsneutral,despitethepresenceofpositivetechnicalsignals.TheWeighedSentimentisatthemedianlevel,whichindicatesthatthereisuncertaintyregardingwhetherNeirowillcontinuetoriseorencounteradditionalsellingpressure.Thecoin’ssubstantialrallyhasresultedinadecreaseinsupplyoutsideofexchanges,whichsuggeststhatsomeinvestorshavetakenprofits. Butforthesuccessfultraders,thereisstillaglimmerofhope.UsingtheBinanceTopTraderLong/Shortratio,58%oftradersarestillnetlongonNeiroandthusexpectanextendedascent.Traderswillbewatchingaboveresistanceat$0.0027andsupportat$0.0017overthenextdaystoseehowthememecoingoesforward. Overthepastmonth,Neirohasrecorded18outof30greendays,or60%,withanotablepricevolatilityof26.66%.Thesefactorssuggestthatnowmaybeanopportunetimeforpotentialbuyers. LookingAhead:IsABiggerRallyPossible? AsNeiro’svolatilityplaysout,tradersshouldtrackimportantsupportandresistancelevelsfornow.Thenextsignificantmovementforthishigh-flyingmemecoinmightgoeitherwaysincebothtechnicalindicatorsandmarketmoodgiveconflictingsignals. FeaturedimagefromKuCoin,chartfromTradingView newsbtc.com

ManyfamouscryptoexchangesinEuropewithhighpopularitywhichareeToro,Gemini,Bitget,MEXC,andCoinJaralsohavedifferentspecialservicesfordifferenttypesoftraders. Allofsuchplatformsofferasecureenvironment,legaladherence,anduniquetradinginstrumentstoappealtobothsmallandbigtraders. ItisapparentthattherehasbeenaneedforadditionaltoolstomanagetheEuropeancryptomarket. TheEuropeanmarketincryptocurrencyhasalsoexpandednotablyoverseveralyearsintherecentpastasmoreinvestorsseeksafertradingplatforms.Aswemovefurtherinto2024,fivefairlynoticeableonesthatareverymuchuniquefortheregionhavecontinuedtoadaptinofferingthebestuserservicesfortheexchanges.Thefiveplatformsoutlinedabove,namelyeToro,Gemini,Bitget,MEXC,andCoinJar,havetimeandagaindemonstratedthattothetradingworld,theyprovidethebesttradingexperiencesarehighlyreliable,andhaveavastproductofferingofcryptocurrencies. eToro:PioneeringSocialTradingintheCryptoSphere eTorohasestablisheditselfasagroundbreakingforceintheEuropeancryptoexchangemarket.eToro’sspecialelementofsocialtradingenablesitsuserstowatchandmimictheactionstakenbyotheractivetraders,whichencourageslearningthroughcommunityinteractionsTheirwidearrayofsupportedcryptocurrenciescoupledwithafriendlyeTorotradingplatformhasendearedtheplatformforbothbeginnersandexperiencedtraders. Gemini:SettingNewStandardsforSecurityandCompliance GeminihasrightfullypositioneditselfamongthoseEuropeancryptoexchangesthatareconsideredrelativelysafeandlegallycompliant.InitiallylaunchedbytheOlsentwins,thesiteactsindefenseofconsumers,throughimplementinghigherordersofprotectionandinsuranceoptionsforstoredcryptocurrencies. Bitget:RevolutionizingDerivativesTrading BitgethaspositioneditselfasaEuropeanplayerdevotedmainlytocryptocurrencyderivativestrading.Itprovidesasolidlistoffuturesandoptionstoprovidetraderswithopportunitiestotrackthepricesofthechoseninstrumentswithoutholdingthephysicalinstrumentsthemselves. MEXC:ExpandingHorizonswithaDiverseAssetSelection MEXCcutanicheforitselfintermsofthenumberofavailablecryptocurrenciesandtradingpairs.Heck,Marvishasattractedalotofinvestorsbecausetheexchangeaimstolistnewprojectsandrelativelyunknowntokenswhileregulatinggivingmosttokensexposuretothemarket.SomeofitsfeaturesthathaveputMEXConthemapformanyusersinEuropeincludeafriendlymobileappandround-the-clocksupport. CoinJar:SimplifyingCryptofortheMasses ToseizetheEuropeanmarketCoinJarhasusedstrategieslikemakingthisproductaseasilyaccessibleaspossible.Oneadvantageofthisspecificplatformisthatthelayoutiseasytounderstandandthecontentclearlyexplained,itissuitableforbeginnersintheworldofcryptocurrency. cryptonewsland.com

Thethirdquarterof2024sawasurgeinstablecoinuseandadoption,accordingtoCoinbase’s4thQuarterGuidetoCryptoMarketsreportwithGlassnode. Stablecoinshitanall-timehighmarketcapitalizationofnearly$170billioninQ32024,accordingtothereport.ThisgrowthoccurredalongsidetheimplementationoftheEuropeanUnion’snewMarketsinCrypto-Assetsregulation,whichintroducedclearerrulesforstablecoinoperations. Stablecoinshavebecomeakeytoolforusersseekingfaster,cheaper,andmoresecuretransactions.Theirutilityinpaymentsystems,includingremittancesandcross-bordertransfers,hascontinuedtoexpand. Recently,AnthonyPomplianoarguedthattechinnovationsoutsideofcryptocouldleadtoanewerainwhichstablecoinsbecometheprimarytransactionmediuminamachine-driveneconomy.Thisincreasedadoptionreflectsthegrowingroleofstablecoinsincryptotradingandreal-worldfinancialsystems. Accordingtothereport,stablecoinvolumeshavereachednearly$20trillionyear-to-dateasofthethirdquarter,indicatingtheirgrowingroleintheglobaleconomy. Source:CoinbaseandGlassdoor StablecoinandBitcoindominance StablecoindominancealsoincreasedinQ3alongsideBitcoin(BTC),withcryptoinvestorsgravitatingtowardwhattheyseeasthehighest-qualitydigitalassets. ThecurrentBTCcyclecloselytracksthe2015-2018and2018-2022cycles,whichendedwithnearly2,000%and600%returns,accordingtothereport. Source:CoinbaseandGlassdoor Youmightalsolike:PaxoslaunchesstablecoinpaymentsplatformwithStripeasfirstcustomer WhatisMiCA? TheMarketsinCrypto-AssetsRegulationisacomprehensiveframeworkenactedbytheEuropeanUnioninJune2023toregulatethecryptoindustryacrossits27membercountries.Itinitiatesa12-18monthtransitionperiodforimplementingrulesonanti-moneylaundering,combatingthefinancingofterrorismanddigitalassetcustody,amongothers. MiCA’simpactonstablecoinsstillremainstobeseen,butTether(USDT)CEOPaoloArdoinoexpressedconcernthatMiCA’s60%cashreserverequirementforstablecoinscouldcreatesystemicrisksforEuropeanbanks.Hearguedthatsuchregulationsmightexacerbateliquidityissuesduringlarge-scaleredemptions,potentiallyleadingtobankfailures. crypto.news

Let’sexaminetheinsightssharedbyourTechnicalAnalystatUseTheBitcoinasheexplainshisobservationsonthecryptomarket. IsElonMuskSellingBitcoin?TeslaTransfersAll$760MOfItsBTCToUnknownWallets Today,we’redivingintobreakingnewsaboutElonMuskandTesla’smassiveBitcoinmove,whichhassparkedspeculation.CouldTeslabesellingoffitsentireBitcoinstash?Let’sbreakitdownanddiscoverwhatthiscouldmeanforthecryptomarket. So,here’swhat’shappening:ElonMusk’sTesla,oneofthebiggestcorporateholdersofBitcoin,justtransferrednearly$760millionworthofBitcointounknownwallets.ThismovefuelsspeculationthatTeslamightplantoselloffitsBitcoinholdingsentirely,potentiallyshakingupthemarket. TESLAJUSTMOVEDANOTHER$260MBTC TOTALMOVED:$760Mpic.twitter.com/ukAcHW1EZC —Arkham(@ArkhamIntel)October15,2024 AccordingtocryptodatafirmArkhamIntelligence,walletstiedtoTeslashiftedmorethan11,500Bitcointowalletswithunidentifiedownership.Asaresult,Tesla’soriginalwalletsnowholdjust$6.65worthofBTC—practicallynothing!SinceTeslaisthefourth-largestBitcoinholderamongpubliclytradedUScompanies,thisactionhasraisedsomeeyebrowsinthecryptocommunity. Let’sgobackabitandlookatTesla’sBitcoinhistory.ThecompanyinitiallymadeheadlinesinFebruary2021whenitbought$1.5billionworthofBitcoin.ThismovepushedBitcoin’spricetonewhighs,asthemarketvieweditasasignificantendorsementfromaleadingtechcompany.Later,Tesla’sBTCholdingsevengrewtoaround$2.5billion.Butthen,inearly2022,Teslaunexpectedlysold75%ofitsBitcoinholdingsataloss.So,we’veseenbeforethatthecompanyisn’tshyaboutcashingout. Interestingly,inMarch,ArkhamIntelligenceaddedTesla’sBitcoinwallettoitsdashboard,whichshowedTeslaheldaround11,509Bitcoin,valuedatroughly$770millionatthetime.Now,justmonthslater,allthatisgone,withnocleardestinationorexplanation. AtthetimeofTesla’sinitialBitcoinpurchase,MuskhadalsoannouncedplanstoacceptBitcoinaspaymentforTeslavehicles.Thissparkedexcitementaboutmainstreamadoption.However,shortlyafter,hereversedthedecision,citingenvironmentalconcernsrelatedtoBitcoinmining’shighenergyconsumption. ElonMusk’srelationshipwithcryptohasbeencomplicated,tosaytheleast.Whilesomeofhiscompanies,likeTeslaandSpaceX,holdBitcoinontheirbalancesheets,MuskhasoftenbeenambiguousabouthispersonalviewsonBitcoin.Inaninterviewafewmonthsago,hementionedthatwhilehesees“somemerit”inBitcoinandafewothercryptocurrencies,hissoftspotisforDogecoin.ThismakesMusk’sstanceonBitcoinunpredictableandkeepsthecryptocommunityonitstoes. Let’salsorevisithistoryforamoment.RememberwhathappenedonMay13th,2021?MuskannouncedthatTeslawouldnolongeracceptBitcoinforcarpurchases,whichheattributedtoconcernsoverBitcoin’senvironmentalimpact. Tesla&Bitcoinpic.twitter.com/YSswJmVZhP —ElonMusk(@elonmusk)May12,2021 Themarketreactedinstantly.Withinhours,Bitcoin’spriceplungedfromaround$54,000to$46,000,affectingtheentirecryptomarketandwipingouthundredsofbillionsofdollars.AsingletweetorstatementremindsusofMusk’spoweroverthecryptomarket. FinalThoughts So,whatcouldthislatestmovemean?IsTeslacashingoutofBitcoinforgood,oristhisastrategytomovetheirholdingselsewhere?Andiftheyareselling,howmightthatimpactBitcoin’spriceandtheoverallcryptomarket?WithMusk’spastinfluenceoncryptoprices,anothermovefromTeslacouldpotentiallytriggeranewwaveofvolatility. Andthatbringsustothebigquestion:Doyouthinkanothercryptocrashcouldhappen?CouldTesla’sactionshavearippleeffectonBitcoinandothercryptocurrencies? Formorevideoslikethisone,makesuretosubscribeandhitthenotificationbellonUseTheBitcoin’sYouTubechannel.Wepostdailyvideoscoveringthecryptomarkets,sodon’tmissout! usethebitcoin.com

XRPpriceismovinghigherabovethe$0.5400zone.Thepricemustsettleabovethe$0.5550resistancetosetthepaceforalargerincrease. XRPpriceisattemptingafreshincreaseabovethe$0.540zone. Thepriceisnowtradingabove$0.5410andthe100-hourlySimpleMovingAverage. Thereisakeybullishtrendlineformingwithsupportat$0.5395onthehourlychartoftheXRP/USDpair(datasourcefromKraken). Thepaircouldgainbullishmomentumifitclearsthe$0.550and$0.5550resistancelevels. XRPPriceRevisitsResistance XRPpricestartedadownsidecorrectionfromthe$0.5550resistancezone.Therewasamovebelowthe$0.5420support.However,thebullswereactiveat$0.5320.Alowwasformedat$0.5317andthepriceisnowrisinglikeBitcoinandEthereum. Thepriceclimbedabovethe$0.5380and$0.540resistancelevels.Therewasamoveabovethe50%Fibretracementlevelofthedownwardmovefromthe$0.5550swinghightothe$0.5317low. Thepriceisnowtradingabove$0.540andthe100-hourlySimpleMovingAverage.Thereisalsoakeybullishtrendlineformingwithsupportat$0.5395onthehourlychartoftheXRP/USDpair. Ontheupside,thepricemightfaceresistancenearthe$0.5460levelorthe61.8%Fibretracementlevelofthedownwardmovefromthe$0.5550swinghightothe$0.5317low.Thefirstmajorresistanceisnearthe$0.5500level.Thenextkeyresistancecouldbe$0.5550. Aclearmoveabovethe$0.5550resistancemightsendthepricetowardthe$0.5650resistance.Anymoregainsmightsendthepricetowardthe$0.5800resistanceoreven$0.5880inthenearterm.Thenextmajorhurdlemightbe$0.6000. AnotherDecline? IfXRPfailstoclearthe$0.550resistancezone,itcouldstartanotherdecline.Initialsupportonthedownsideisnearthe$0.540levelandthetrendline.Thenextmajorsupportisnearthe$0.5320level. Ifthereisadownsidebreakandaclosebelowthe$0.5320level,thepricemightcontinuetodeclinetowardthe$0.5210supportinthenearterm.Thenextmajorsupportsitsnearthe$0.5050zone. TechnicalIndicators HourlyMACD–TheMACDforXRP/USDisnowgainingpaceinthebullishzone. HourlyRSI(RelativeStrengthIndex)–TheRSIforXRP/USDisnowabovethe50level. MajorSupportLevels–$0.5400and$0.5320. MajorResistanceLevels–$0.5500and$0.5550. newsbtc.com

Astheassetredemptionprocesscontinues,FTXhasunstakedover178KSolana(SOL)tokens.Thesetokensareworthmorethan$128million. ThedecisioncomesaftertheU.S.BankruptcyCourtapprovedFTX’sreorganizationplan,astheexchangeseekstocompensateitscreditorsfollowingthecompany’sbankruptcy. Thislatestunstackingcontinuesatrendinrecentmonths.FTXredeemsasimilarnumberofSOLtokensbetweenthe12thand15thofeachmonth. FTX’sRegularSolanaRedemptionsRaiseConcerns Theunstakingof178,631SOLonOctober15ispartoftheongoingeffortsofFTXtoliquidateassetsandsendbackthefundstothecustomers.ThiscomesafteraU.S.courtgavethenodtoitsreorganizationplanthatseekstogiveoutover$14billiontocreditors. Intheplan,severaldigitalassetsareidentifiedforsale,withlargevolumesofSolanabeingsoldintheprocess,andsuchliquidationscouldbeseentoputdownwardpressureonthevalueofSOL. TheSOLstakingaddressofFTX/Alamedaredeemed178,631SOL(US$28million)today,mostofwhichareexpectedtoflowintoCoinbaseorBinance.TheSOLofthisaddressisredeemedandtransferredoutabout170kSOLonthe12thto15thofeachmonth.Currently,thereare7.09… —WuBlockchain(@WuBlockchain)October15,2024 Forthepastfewmonths,FTXanditssistercompany,AlamedaResearchhasbeusingSOLtokenstoredeemthem.Forinstance,inSeptember2024,thecompaniesunstakedmorethan530,000SOLwhichisapproximately$71million. Thesetokensweresenttovariouswallets,withapproximately176,700SOLbeingclaimedeverymonth.Nevertheless,FTXandAlamedastillholdabout7.06millionSOLwiththeworthofapproximately$945.7millioninthemiddleofSeptember. PotentialMarketImpactofFTX’sSOLSales TheconstantunstakingandthepossibilityofsellinglargeamountsofSOLintheopenmarketmightcausethepriceofthetokentogodown.The178,631SOLrecentlyredeemedbyFTXisbelievedtobesenttomajorexchangessuchasCoinbaseandBinanceandmaybesold.Ifthishappens,theincreasedsupplywillputdownwardpressureontheprice.AsFTXcontinuestoimplementitsreorganizationplanmoreofsuchsalesmayoccur,whichmayputmorepressureonSOLprices. AsforFTX’sliquidations,SOLmayexperiencesomeshort-termlosses,yetthemarketsentimentisbecomingmorepositive.Inthelast7days,Solanahasbeenontherise,withitspricerisingbymorethan8%. SolanaPrice Currently,SOListradingataround$151,a3%declineduetoincreasedmarketfearposttheFTXmove.However,thisupwardmovementmaybetemporaryiftheliquidatedtokenspourbackintothemarket. StrongFundamentalsCouldSupportSOLDespiteSell-Off However,asSolana’snetworkcontinuestoexperiencegrowth,thereareindicatorsthatcansupportitspriceevenamidstthecurrentredemptionsatFTX.TheTotalValueLocked(TVL)inSolanaDeFiapplicationshassurpassed$6.1billioninOctober,thehighestlevelsinceJanuary2022. Thisgrowthshowsthatusersaregainingmoreconfidenceandparticipationontheplatform,whichwouldbenefitSOL’spricedespitetherisingsellingpressure. TVLSolana Inaddition,thedailyactiveaddresseshaveincreasedtremendouslywithover4millionnewaddressesbeingcreateddailyontheSolananetwork.ThisincreaseinuseractivityandfreshcapitalinflowsmeansthatthereisasteadyneedforSolana’sserviceswhichmayovershadowthenegativepriceimpactfromtheliquidationofassetsatFTX. Fromatechnicalpointofview,analystssaythatSolanaisencounteringamajorbarrieratthe$159mark.Ifthetoken’spricemanagestoovercomethisresistancelevelitmayheadtowards$186apricelastseeninJuly2024. AnalystViewsonSOLPrice Nonetheless,ifFTXstartstoliquidateunstakedSOLtokenswithoutadequatemarketdemand,SOLmaydropby15%withthehelpofsupportat$131.Ifthissupportlevelcollapses,Solana’spricemaydecline,andmayfalltoaslowas$109. thecoinrepublic.com

AttheMiamiRippleSwell2024conference,RipplerevealednewexchangepartnersandmarketmakersforRLUSD,itsimpendingdollar-peggedstablecoin. FormerFDICChairSheilaBairandformerCENTREConsortiumCEODavidPuthareappointedtotheRLUSDadvisoryboard.Ripple’spresidentsaidthestablecoinwas“operationallyready”andarewaitingforregulatoryapprovalfromtheNewYorkDepartmentofFinancialServices(NYDFS). ExchangesandMarketMakersHelpRippleLaunchRLUSD someofRipple’smultiplepartnerstosupportRLUSDdistributionincludeBitstamp,Bitso,Bullish,CoinMENA,MoonPay,Uphold,andIndependentReserve. However,thefirmalsopartneredwithB2C2andKeyrockasmarketmakerstofacilitatethecreationofliquidityandadoptionacrossglobalmarkets. ThesepartnershipsaimtoofferRLUSDtoinstitutionsandusersworldwideontrustedexchanges. Initially,thestablecoinwillbelaunchedontheXRPLedgerandtheEthereumnetworktofacilitatereal-timetransactionsandconvertbetweenfiatanddigitalcurrencies. BradGarlinghouse,RippleCEO,saidthecompanyseekstomakeRLUSDagold-standardstablecoinforenterpriseusecases.Garlinghouseaddedthatcustomersneedstablecoinstosettlecross-borderpayments,assettokenization,anddecentralizedfinance(DeFi). Ripple’smovetostablecoinreflectsabroaderstrategytolinktraditionalfinancialmarketswithblockchaintechnology.However,thefirm’spaymentnetworkalreadycoversmorethan90markets,havingprocessedmorethan37milliontransactionstotalling$70billiontodate. Inanothernewsdevelopment,GarlinghousestatedthatRipplehasalreadyboughtStandardCustody,whichprovesitscompliance. RLUSDDesignedforPayments,On-Ramps,andAssetTokenization Ripple’sRLUSDstablecoinwillfocusoncross-borderpayments,crypto-to-fiatandviceversaonramps,andtokenizingreal-worldassets. WithRLUSD,Ripple’sexistingcross-borderpaymentsolutions,includingXRP,willbefurtheroptimizedforspeedandcost.Thisintegrationwillprovideliquidityandallowinstitutionstoeffortlesslytransactglobally. RLUSDwilllinktraditionalanddigitalfinanceandofferasecuregatewaytotradeinandoutofcryptomarketswithoutworriesaboutpricevolatility.Moreover,itattemptstofosterfasteracceptanceofdigitalmoneybyprovidinganefficienton-ramptotheblockchainecosystem. TheadvisoryboardmembersofRippleemphasizedtheneedforcomplianceandstabilityintheaborningdigitaleconomy.“Stablecoinswillplayakeyroleinmodernizingfinancialinfrastructure,”saidSheilaBair.Asthedigitalassetsindustrygrows,responsibleinnovationwillbeparamounttotheiradoption,prioritizingbothconsumerprotectionandfinancialstability.”Sheadded RegulatoryComplianceandMarketPositioning BasedinNewYork,Ripple’sRLUSDstablecoinisissuedunderaNewYorkTrustCompanyCharterandfullycomplieswithrigorousregulatoryprocesses.AccordingtoMonicaLong,Ripple’spresident,thepubliclaunchofRLUSDwillfollowregulatoryapprovalfromNYDFS.“Weareoperationallyready,”Longsaid,hintingthattherolloutcouldcomeinthecomingweeks. Dollardeposits,short-termU.S.Treasuries,andcashequivalentswillbacktheRLUSD.Ripplewillprovidetransparencytoinvestorsandusersbyreleasingindependentthird-partyattestationsofRLUSD’sreserveseachmonth. Furthermore,accountingfirmBPMwillconducttheseauditstoensurethatRLUSDisentirelybackedupbycollateral. AsperCoimarketcap,XRPistradingat$0.5404,withapriceincreaseof$0.33%. thecoinrepublic.com

Ethena’sENAsurged33%,reaching$0.3887amidgrowinginvestorexcitement. AproposaltoaddSolanaasabackingassetfuelsENA’smomentum. Traderseyeapotentialbreakoutto$0.50,withupcomingpricetargetstowatch. Ethena’sENAhassurged,jumping33%injustoneweek.Investorsareexcited,pushingthepriceto$0.3887.ArecentproposaltoaddSolana(SOL)asabackingassetforUSDehasfueledthismomentum.Withthisgrowingexcitement,tradersareeyeingthe$0.50target.Asofwriting,ENAisthebiggestgaineronBinance,asthepostbelowhighlights. 🟢Ethena(@ethena_labs)isNewGaineronBinance.$ENA🌐https://t.co/Dl9liNAc3q🚀Price:$0.41📈24hchange:14.4%24hVolume:$437,590,112Mcap:$1,118,758,237 𝐄𝐭𝐡𝐞𝐧𝐚Keyupdatesyoushouldknow:(inthenexttweet) —BinanceGainerAlert🚨🚨🚨(@CoinGainerAlert)October14,2024 Ethena’sBreakoutRallyGathersSteam ThepricechartforEthenatellsastrongstory.Aninvertedhead-and-shoulderpatternhasformed,indicatingasoliduptrend.Recently,therallyreached$0.41beforeaminorpullback.Currently,ENAhoversaround$0.3918,strugglingtoholdabovethe61.80%Fibonaccilevel. However,thisdoesn’tmeanmomentumhasfaded.Agoldencrossoverbetweenthe50and200EMAsapproaches,suggestingcontinuedbullishactivity.Furthermore,technicalindicatorsliketheMACDreflectstrongpositivesentiment. TheImpactofAddingSolanaasaBackingAsset AmajorreasonbehindENA’sgrowthistheproposaltoincludeSolanaasabackingassetforUSDe.ThisplanmirrorsEthena’sexistinghedgingsystemwithBitcoinandEthereumperpetualfutures. AlongwithSOL,BinanceandBybitliquid-stakeversionsofSOLwillalsobeconsidered.TraderseagerlyawaittheRiskCommittee’sdecision,expectedinsevendays.Thebullishtrendsuggeststhatreaching$0.50ispossible. UpcomingtargetsbasedonFibonaccilevelsstandat$0.4431and$0.5086.IfENAbreaksthroughthesepricelevels,newrecordsmightfollow.However,cautionisnecessary.Shouldtherallyfalter,aretreatto$0.3557oreven$0.3196couldoccur. Ethena’srecentmomentumpositionsENAclosetothe$0.50mark.TheexcitementaroundtheproposedinclusionofSolanaasabackingassethasignitedbullishsentiment.Fornow,tradersremainoptimisticasENA’strajectorycontinuestounfold. cryptonewsland.com

Ethereum’spositioninDEXtradingischanging,accordingtotheCoinGeckoQ3cryptoindustryreportreleasedonOct.14. Thenetworkremainsthedominantchainfordecentralizedexchange,butitsmarketshareconsistentlyfellbelow40%duringthequarter. TradingvolumeonEthereumtrendeddownwardbetweenJulyandSeptember,withitscumulativevolume19.6%lowerthanthepreviousquarter,itnoted. MemeCoinsDrivingDEXCompetition EthereumisfacingincreasedcompetitionfromotherchainsintheDEXspace,particularlySolanaandBase.However,theirpopularityisprimarilydrivenbydegensmintingmemecoins. SolanagainedsignificanttractioninDEXtrading,endingSeptemberwitha22%marketshareand$21.5billioninvolume. Base,theCoinbaseEthereumL2,grewitsDEXmarketshareby31.4%inQ3,overtakingArbitrumwitha13%dominanceand$12.3billioninvolumebySeptember. TronwasanewcomertothetoptenafterdisplacingBlast,whichsawitsvolumesplummetfollowingitstokengenerationevent. However,thiswasalsodrivenbymemecoinsfollowingthelaunchofsuchageneratorSunPumponTron.Thenetworkmanagedtocapture2%ofthemarketsharewith$1.7billioninvolumeinSeptember,accordingtoCoinGecko. ETH’smarketdominancealsotookabeatinginthethirdquarter.Itsshareofthetotalcryptomarketcapdroppedby3.6%,endingthequarterat13.4%.Thiswasthelargestdeclineamongthetop7cryptocurrencies,despitethelaunchofEthereumETFsinJuly. However,theEthereumecosystemsawsubstantialgrowthinlayer-2scalingsolutions,withthetotaltransactionsacrossthetop10L2sincreasingby17.2%inQ3. DailytransactionsonL2snearlyreached10millionbytheendofSeptember,farexceedingEthereummainnet’s1milliondailytransactions,thereportnoted.ThisgrowthindicatesashiftinuseractivityfromthemainEthereumchaintomorescalableL2solutions. ETHFUDContinues EthereumecosystemdevelopershavetakentocryptosocialmediathisweektodisputethewavesofFUDthathaveplaguedthenetworkrecently. OnOct.14,CyberCapitalfounderJustinBonaddedtotheFUDstatingthatUniswapmovingoff-chain“isonlythefinalnailinthecoffin,allappsaremovingtocompetingL1sandL2sinstead.” “NowETHisbeingleftbehind,irrelevantandbroken;Ethereumiscooked.” However,BlackRockCEOLarryFinkbeggedtodiffer,highlightingthegrowthpotentialoftheEthereumnetworkduringthefirm’sQ3earningscallthismonth. Andyou’restillbearishonETH?https://t.co/nb1E8tQMsO —sassal.eth/acc(@sassal0x)October14,2024 cryptopotato.com

Inamomentousevent,apseudonymouscryptoinvestorhasobtainedsignificantprofit.Aspertheprominenton-chainanalyticsfirmLookonchain,theEthereumtradergainedaround3millionintermsofprofitinlessthan40days.Theanalyticsplatformprovidedthedetailsofthiseventonitsofficialsocialmediaaccount. myparagon.ethsoldalltheremaining4,802$ETH($12.56M)40minsago,makingaprofitof~$2.8Min38days! Hebought9,050$ETH($20.75M)at~$2,293onSept7andSept9. Thenhesoldall$ETHat~$2,598onSept30,Oct2,andOct15,making~$2.8M.https://t.co/XFRkut6fb4pic.twitter.com/jfBt8h8d0Q —Lookonchain(@lookonchain)October15,2024 InvestorSellsAllHisEthereumHoldings InitsrecentXpost,Lookonchainmentionedthattheinvestor’sprofitof$2.8Mhasmadewavesinthecryptosector.Theinvestorformerlyacquiredacumulative9,050$ETHcoinsbackinSeptemberat$2,293astheaverageprice.Thistime,theinvestorhaseffectivelycapitalizedonEthereum’srecentpricespike. ThedatafromLookonchaindisclosesthattheinvestorhasrecentlyconductedthelastsaleof$ETH.Therespectivesaleaccountedforupto4,802$ETHwithavalueofnearly$12.56M.Thisstrategicdevelopmentdenotedtheconclusionofasetofpreciseandtimelytransfers.Inthisrespect,theinvestorhasreportedlyliquidatedtheholdingsthereofacrossdiversedatesfromSeptember’sendtothemiddleofOctober. TheInvestorKeepsMakingHugeReturnsStartingfromSeptember2024 Theinvestor’sjourneystartedwiththebuyoutsonthe7thand9thofSeptember.Atthattime,theinvestorcommittedacumulativeamountofalmost$20.75MtoEthereumwhilethemarketconditionswerefavorable.AccordingtoLookonchain,thelatestgainsunderscorethecryptomarket’svolatileyetprofitablenaturethatsavvyinvestorssuchas“myparagon”leveragetomakesubstantialprofits. blockchainreporter.net