Category Archives: Altcoin

Ripple rally to $0.66 likely with bullish developments in the altcoin – FXStreet

Ripple price sustained above the $0.59 level, on Friday, close to its $0.62 local top. On-chain indicators reveal a rising demand for XRP tokens among market participants. Rising trade volume and daily active addresses are indicative of brewing interest among traders.

The altcoin yielded 10.70% gains over the past month. The altcoin has been in a consistent uptrend for the past three days. The US Federal Reserves interest rate decision failed to sway the bullish outlook of retail traders and XRP price continued posting gains.

Also read: Ripple makes comeback to $0.60 after XRP held by retail traders notes a significant increase

Whale transaction count (>$100,000) vs XRP price

XRP trade volume, daily active addresses vs XRP price

Payment remittance firm Ripple announced that the Dubai Financial Services Authority (DFSA) has approved the digital asset XRP for use within the Dubai International Financial Centre (DIFC).

Virtual asset firms within the DIFC will now be able to incorporate XRP into their virtual asset services. XRP is the first virtual asset to be approved by the regime. Bitcoin, Ethereum, and Litecoin rank in the list of assets previously approved under the DFSAs virtual assets regime.

The legal and regulatory clarity is likely to benefit XRP. The asset will be used by institutions located in the DIFC for value exchange, boosting its utility.

XRP price is $0.5980 on Binance at the time of writing. As seen in the price chart below, there is a Fair Value Gap between $0.6682 and $0.6758. The lower level, $0.6682, is expected to act as a resistance for the altcoin as the XRP price rally continues.

The bullish developments in XRP are likely to support the assets uptrend. A successful break past $0.6682 will send XRP to the upper boundary of the FVG, at $0.6758. The move from $0.5980 (current price) to $0.6682 (FVG) marks a 12% gain from the current price.

XRP/USDT one-day price chart on Binance

On the downside, the 10-day Exponential Moving Average (EMA) at $0.5769, could act as a support.

Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.

XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.

XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.

XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRPs blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.

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Ripple rally to $0.66 likely with bullish developments in the altcoin - FXStreet

October Altcoin Gainers – These Five Altcoins Paved the Way – BeInCrypto

October was a bullish month for the cryptocurrency market, filled with altcoin gainers. Bitcoin (BTC) and several other cryptocurrencies reached new yearly highs.

As Halloween ushers an end to October, BeInCrypto looks at 5 altcoins that made October frighteningly profitable. The five October altcoin gainers are:

The POLYX price has increased quickly since October 13. The upward movement has been parabolic, leading to an all-time high price of $0.43 on October 30.

The increase caused a breakout from the $0.29 horizontal resistance area, which had been in place since April.

The all-time high was close to the 1.61 external Fib level of the most recent decrease. Once the price is at an all-time high, the Fib level often acts as the area for the top.

If POLYX breaks out above it, it can increase by 75% to the 2.61 external Fib level at $0.66.

Despite this bullish prediction, failure to close above the $0.44 resistance can lead to a 25% drop to the $0.29 horizontal area, which is expected to provide support.

The TRB price has increased alongside a parabolic ascending support line since the beginning of September. The upward movement led to a new yearly high of $125 yesterday.

Currently, TRB trades slightly above the 0.618 Fib retracement level of the entire previous decrease at $105. Whether the price moves above it or gets rejected can determine if the future trend is bullish or bearish.

A successful close above this area can lead to a 50% increase to the next resistance at $165.

On the other hand, a rejection and breakdown from the parabolic ascending support line will mean the upward movement is complete. In that case, a 40% drop to the closest support at $66 will be likely.

The SOL price has increased alongside an ascending support trendline since the beginning of the year. More recently, it bounced above the line in September (green icon), accelerating its rate of increase.

The next month, SOL broke out from the $28 horizontal area. This was a crucial area since it had been in place since November 2022.

Today, SOL reached a new yearly high of $37. If the price continues upwards, it can increase by another 46% and reach the next resistance at $47.

Despite this bullish SOL price prediction, failure to sustain the increase can cause a 25% drop to the $28 area, validating it as support.

The INJ price increased by 50% last week, breaking out from the $9 horizontal resistance area. The price reached a new yearly high of $14.50 today. This was the highest price since November 2021.

Currently, INJ trades inside the $13.50 horizontal resistance area. This is the final resistance before the all-time high region.

So, if INJ breaks out, it can double in price and reach the all-time high of $27.

Despite this bullish prediction, a rejection from the $13.50 horizontal resistance area can trigger a 35% drop to validate the $9 support area again.

The MINA price has increased swiftly since its $0.36 low on October 11. On October 24 alone, the price increased by 110%, leading to a high of $0.98.

However, the upward movement could not be sustained. Rather, MINA created a long upper wick (red icon) and fell below the $0.88 horizontal resistance area.

Now, MINA trades just above the $0.58 horizontal support area. Whether it bounces or breaks down can determine the future trends direction.

A bounce can lead to a 40% increase to the next resistance at $0.88. On the other hand, a breakdown can cause a 40% drop to $0.37.

For BeInCryptos latest crypto market analysis,click here.

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

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October Altcoin Gainers - These Five Altcoins Paved the Way - BeInCrypto

Bitcoin Consolidates Around $35K, SOL Leads Altcoin Rally, SBF Found Guilty: This Weeks Recap – CryptoPotato

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Bitcoin Consolidates Around $35K, SOL Leads Altcoin Rally, SBF Found Guilty: This Weeks Recap - CryptoPotato

Top Crypto Analyst Predicts Easy 100% Rally for AI-Focused Altcoin, Updates Outlook on Chainlink – The Daily Hodl

A top crypto strategist predicts that one altcoin focused on artificial intelligence (AI) will double up while updating his outlook on decentralized oracle provider Chainlink (LINK).

Pseudonymous crypto trader Bluntz tells his 226,200 followers on the social media platform X that Ocean Protocol (OCEAN), a data-sharing digital asset with a focus on AI, will see a 100% surge in price after the narratives around AI ramp up again.

Beautiful high timeframe setups all across the board, I suspect the AI narrative will pop up again at some point in the future and OCEAN looks primed [and] ready for a breakout but hasnt moved too much. Easy 100% move higher IMO (in my opinion).

OCEAN is trading for $0.381 at time of writing, a 1.5% increase during the last day.

The crypto analyst goes on to say that he believes Chainlink is gearing up for big rally to the upside where it could catch up to smart contract platform and Ethereum (ETH) rival Solana (SOL), which has seen a 25% increase in price since October 28th.

I think [LINK] is finally ready to play catch up to SOL again. RSI (Relative Strength Index) reset, sideways flat correction finished, next leg up is loading IMO.

LINK is moving for $10.95 at time of writing, a fractional increase during the last 24 hours while SOL is trading for $39.22, a 6.7% decrease during the last day.

Bluntz concludes his analysis by noting that the US Dollar Index (DXY), which keeps track of the USDs value compared to foreign currencies, has topped, meaning the next 6 months will be great for risk assets such as crypto.

DXY showing signs of distribution here while equities look like they may have finally found a bottom and crypto is almost certainly risk on again. If DXY has topped like I suspect and starts trading back under the range and below 105, the next 6 months will be great for risk assets.

Generated Image: DALLE3

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Top Crypto Analyst Predicts Easy 100% Rally for AI-Focused Altcoin, Updates Outlook on Chainlink - The Daily Hodl

Altcoin market rises amid Bitcoin rally and U.S. interest rates –

Cryptocurrency prices reacted positively to the Federal Reserves latest decision on interest rates on Nov. 1.

Defi tokens like AAVE and Uniswap (UNI) led the way, rising over 20% in a moment. AAVE rose to $98.13 and Uniswaps UNI rose to $4.80. These tokens are thriving due to the overall significance of the cryptocurrency rally.

In the case of Uniswap, the rally means demand for cryptocurrencies will increase as investors try to follow the crowd. In the stock market, it was already seen Coinbases share price skyrocketed this week. When writing, UNI trades at $4.65, up 13.6% in 24 hours.

Likewise with AAVE: as cryptocurrency prices rise, there is a possibility that demand for its lending projects will continue. Indeed, the total value locked in many DeFi protocols has jumped, according to DeFi Llama. Now AAVE is trading at $94.21, up 14.11% in 24 hours.

The rise in altcoins comes after Bitcoinwent higher on November 1st. At that moment, BTC approached the $36k level, near which the coin was last in May 2022. Afterward, Bitcoin entered a correction.

Bitcoin rose amid the US Federal Reserves decision to leave its key interest rate unchanged for the second time. Refusal to further increase it is a positive signal for the market. Such actions may indicate that a rate-cut period is approaching.

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Altcoin market rises amid Bitcoin rally and U.S. interest rates -

Solana Price Hits 14-Month High, Could This Be the Next Altcoin to … – BeInCrypto

The Solana (SOL) price has surged to a 14-month high as investors regain confidence in the blockchain.

The rally has defied expectations that Solana would continue trading sideways for the rest of 2023, with SOL now trading above the crucial $40 level.

While SOL continues its uptrend, investors are still looking for the next under-the-radar coin that could explode in November with Bitcoin Minetrix (BTCMTX) emerging as a top contender.

At the time of writing, SOL is trading for $42.77, its highest value since Aug. 17, 2022.

The token has posted four bullish daily closes in a row, moving above crucial resistance zones and Exponential Moving Averages (EMAs) in the process.

According to CoinMarketCap, SOL trading volume spiked by 155% Wednesday,reaching $3.8 billion.

This makes SOL the fifth most-traded cryptocurrency globally, surpassing established tokens like XRP (XRP) and Chainlink (LINK).

Solanas rise can be attributed to several positive catalysts, including the $24 million net inflows into SOL-focused funds last week.

Investors are broadening their horizons and seeking new crypto-assets to diversify their portfolios, with Solana emerging as a favored token.

Solana has also recently forged some key partnerships, such as with the Dubai Multi Commodities Centre, which has boosted the networks credibility and status.

Overall, its been an excellent month for SOL holders, with the token now up 332% year-to-date.

Further boosting investor sentiment is that Solanas long-awaited scaling solution, Firedancer, finally went live on the testnet this week.

Firedancer aims to boost Solanas speed, reliability, and validator diversity, providing a long-term fix to the networks issues with frequent outages.

The launch has boosted confidence in Solanas ability to scale while maintaining uptime and security.

In turn, many investors now believe that Solana is firmly cemented as Ethereums number one competitor and could even gain market share over the worlds second-largest crypto in the months ahead.

Yet, despite the bullish trend, over $56 million in SOL was unstaked from FTX-linked wallets and moved to major exchanges like Coinbase and Binance earlier this week.

As such, traders remain wary that selling pressure could hit SOL if these tokens tied to FTX are liquidated.

Regardless, investor optimism remains sky-high, which is why Solana is one of the top gainers in the crypto market this week.

Bitcoin Minetrix (BTCMTX) has raised over $3.1 million in its limited-time presale phase, offering a revolutionary approach to crypto mining.

Using an Ethereum-based model, Bitcoin Minetrix tokenizes mining credits and allows holders to exchange them for cloud mining power.

This simplifies the mining process for crypto investors, reduces the risk of fraud, and allows Bitcoin Minetrix users to generate recurring BTC rewards.

On top of that, holders of BTCMTX, Bitcoin Minetrixs native token, can stake their tokens to earn yields of 189% APY.

With Bitcoins next halving event less than six months away, many early backers believe that Bitcoin Minetrix could capitalize on the demand for cost-effective mining solutions.

Although still in development, interested investors can buy BTCMTX tokens through Bitcoin Minetrixs presale for $0.0113.

Additionally, early investors can participate in Bitcoin Minetrixs Minedrop giveaway, which will see ten lucky winners each receive $3,000 worth of BTCMTX.

As outlined in the projects white paper, once the presale concludes, BTCMTX will be listed on an array of well-known exchanges, making the token available to the masses.

Early members of the Bitcoin Minetrix Telegram channel believe the demand and liquidity these listings bring could be catalysts for BTCMTXs value to grow.

All in all, with its innovative use cases and early traction, Bitcoin Minetrix could be the altcoin to go viral this November.

Visit Bitcoin Minetrix Presale

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Solana Price Hits 14-Month High, Could This Be the Next Altcoin to ... - BeInCrypto

Top Analyst Predicts Breakout Rally for XRP, Updates Outlook on Solana and Ethereum-Based Altcoin – The Daily Hodl

A crypto strategist who accurately called the top of Bitcoins (BTC) 2021 bull market is expecting another leg up for XRP.

Pseudonymous analyst Pentoshi tells his 706,900 followers on the social media platform X that XRP looks bullish after taking out a key resistance level at $0.548.

XRP fans.

A breakout above $0.548 should lead towards $0.62-$0.63.

At time of writing, XRP is trading for $0.59, up about 3% in the last 24 hours.

The analyst is also updating his forecast on the layer-1 protocol Solana (SOL). According to Pentoshi, the bulls are already celebrating SOLs big rallies as of late which tells him that the crypto asset may be close to witnessing a pullback.

The timeline is getting a little loud on this one. Probably local top soonish, in the purple box.

Looking at the traders chart, he seems to predict that SOL will likely meet resistance at $38.70. At time of writing, SOL is worth $38.59.

Another altcoin on the analysts radar is the governance token of the Ethereum (ETH)-based decentralized finance lending protocol Aave (AAVE). According to Pentoshi, AAVE will see a big breakout rally if it manages to breach resistance at $90.

This one likely consolidates a bit more. A break above $90 likely brings $112-$115. For now, its under resistance that opens that up.

At time of writing, AAVE is trading at $81.81.

Generated Image: Midjourney

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Top Analyst Predicts Breakout Rally for XRP, Updates Outlook on Solana and Ethereum-Based Altcoin - The Daily Hodl

Artificial Intelligence-Focused Altcoin Rips Over 72% in One Week Amid New Project Updates – The Daily Hodl

An altcoin from the artificial intelligence (AI) sector of digital assets has outperformed most of the crypto markets over the last week as the project readies new updates.

Fetch.AI (FET) is a blockchain that aims to use AI to help automate certain tasks in various business sectors.

According to crypto insights firm Messari,

Their platform allows users to build, deploy, and connect smart agents for automating web3 systems and transforming business models. Through their technology, users can create open services using automation and AI in various sectors such as supply chain, finance, travel, and predictions. Fetch Network aims to reinvent the way we live and work by enabling agents to learn, predict, and undertake meaningful tasks in the real world.

At time of writing, FET is up 69% in the past seven days, and at one point was up 72% after it rallied from $0.22 to $0.38.

FETs price action comes as Fetch.AI gears up to release its new DeltaV technology, a large language model (LLM)-based chatbot for performing tasks.

According to Fetch.AI,

DeltaV is a new search-based AI chat interface powered by Fetch.ais innovative AI agent technology. It leverages natural language conversations to enable it to automatically handle end-to-end tasks for the user positioning DeltaV as a frontrunner in the AI economy.

The introduction of DeltaV marks the next phase of our mission to revolutionize commerce. By enabling a direct engagement between businesses and customers for tasks like booking transportation, travel arrangements, cleaning agents, and more promises to transform the current aggregator-dependent landscape and deliver the next generation of seamless AI-powered commerce that consumers expect today.

FET is currently trading for $0.3709.

Generated Image: Midjourney

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Artificial Intelligence-Focused Altcoin Rips Over 72% in One Week Amid New Project Updates - The Daily Hodl

Bitcoin triangle and altcoin growth – FXStreet

Market picture

The value of bitcoin has changed little over the past 24 hours, remaining at $34.3K - in the centre of the consolidation range of the past seven days. This ability to hold at new, much higher levels is inspiring altcoin buyers, and the market capitalisation of the entire market has increased by 0.6% over the past 24 hours.

Bitcoin is forming a triangle on the daily chart. It is generally believed that such consolidation formations end with an upward breakout. Confirmation, in this case, would be an exit above $35K.

Ethereum followed Bitcoin's lead and broke out above its 200-week MA after a few weeks below it, breaking the shorter-term downtrend. In other similar cases, we've seen some solid and sustained gains. The rebound from the drop below $1500 has confirmed a long-term broad uptrend, with the upper boundary now near $2400. The bulls are likely targeting this upper bound.

CoinShares said crypto fund investments rose by $326 million last week, the fifth consecutive week of inflows. Bitcoin investments rose by $296 million, while Ethereum investments fell by $6 million. Investment in Solana increased by $24 million.

The difficulty of mining Bitcoin has reached an all-time high. According to another recalculation, it has increased by 2.34%, up 76.6% YTD to a new record of 62.46T. The average Bitcoin network hash rate at the current difficulty level is expected to be 449.68 EH/s, also a record.

Investment firm VanEck has filed an updated application with the US Securities and Exchange Commission (SEC) to launch a spot bitcoin ETF. The regulator has previously rejected similar applications from VanEck three times.

VanEck admitted that the Solana blockchain will be the first network to reach 100 million users, and the value of its SOL coin will grow from $32 to a maximum of $3211 by 2030. A conservative growth estimate is $335.

JPMorgan expects the SEC to approve many applications for spot bitcoin ETFs within the next two months.

The UN highlighted the correlation between the Bitcoin price and the network's energy consumption. The 400% increase in the price of the first cryptocurrency in 2020-2021 was accompanied by a 140% increase in the energy used to mine it.

Bitrace named popular ways to steal bitcoins. Cybercriminals use three main methods to steal digital assets: fake applications, clipboard address spoofing and liquidity fraud.

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Bitcoin triangle and altcoin growth - FXStreet

Here’s Why the SEC Cited PayPal – Cryptocurrency News – Altcoin Buzz

PayPal announced on Thursday that it had received a subpoena from the EC over its PayPal USD (PYUSD) stablecoin. A subpoena is a court order requesting documents, testimony, or other forms of evidence during an investigation.

PayPal launched PYUSD in August. But it appears the new stablecoin has caught the attention of US regulators, who are keen on regulating the stablecoin market. Lets discover more about it.

Stablecoins are cryptocurrencies that are pegged to the price of fiat currency. In most cases, it is the US dollar. Others are pegged to the pound or euro.

A PayPal spokesperson confirmed on Thursday that the company intends to collaborate with the SECs demands. The PYUSD is an Ethereum-based stablecoin issued by Paxos, backed by treasuries, dollar deposits, and other cash equivalents.

The stablecoin market is highly competitive. But Paxos claims PYUSD has received huge adoption since its launch three months ago. A core reason for this adoption is that PYUSD is listed on top exchanges such as Coinbase.

In September, PayPal released PYUSD on Venmo to expand its reach to users. Also, users can leverage the PayPal app to buy and sell PYUSD. They can also convert it to other cryptocurrencies like Bitcoin, send it to friends within the US, or pay for items.

The news of the SECs subpoena of PayPal sparked concerns within the crypto world. It appears Washington is threatened by the stablecoin market. Some US officials are concerned that a token associated with a top tech company could see heavy adoption and endanger the stability of the US financial system.

PayPal is one of the many tech companies targeted by US regulators. Most companies targeted by the SEC are crypto-native. However, PayPal is the major US financial organization that releases stablecoins for payments. The stablecoin market is currently under scrutiny. One of the biggest stablecoin issuers, Circle, failed to go public due to concerns raised by the SEC.

Its also public knowledge that Gary Gensler, the chair of the SEC, is against stablecoins. Gensler previously warned of the systematic risk that these digital assets pose to financial stability. Circles CEO, Jeremy Allaire, believes the SEC is outside of its jurisdiction in its attempt to regulate the stablecoin market. Allaire argued that stablecoins focus on payments.

While the US has adopted a tough stance on crypto regulations, other regions are developing friendly policies. And are seeing an influx of crypto projects. A new research ranked the UK as the fastest-growing crypto hub. The report also named London as the most crypto-friendly city. The US stands at risk of losing out to other nations in the race for the crypto industry.

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Here's Why the SEC Cited PayPal - Cryptocurrency News - Altcoin Buzz