Category Archives: Altcoin
John E. Deaton Claims XRP Is The Top Altcoin With A Comeback Story – NewsBTC
Founder of CryptoLaw, John E. Deaton, has termed XRP the best comeback coin amidst altcoins in the cryptocurrency industry. In a recent tweet, the attorney cited XRPs resilience amid criticisms and attacks from regulators and industry leaders.
According to Deaton, XRP earned its title as the comeback coin since it remained relevant even through periods of low momentum. The lawyers statements follow a tweet from a well-known crypto Youtube channel, Altcoin Daily, asking the crypto community which altcoin project had the best comeback story.
In his tweet, Deaton highlighted XRPs challenges while citing Ripples backlash when it first marketed XRP as a liquidity solution for banks. Ripples proposition did not sound interesting to BTC proponents at the time.
Related Reading: Six Million Bitcoins Now Lost Forever? Why This Matters
Aside from this, Ethereum co-founder Vitalik Buterin labeled XRP a shitcoin in 2020. That was at the start of Ripples legal tussle with the SEC over XRP being a financial security.
Buterins statement came in response to Ripples Wells submission, where it defused SECs accusation against its XRP offerings. The native token received more pressure when the SEC continued its legal action against Ripple, terming XRP a security.
John E. Deaton stated that the SECs XRP classification should have crumbled the project as the XRP price plummeted. In addition, XRP lost $15 billion from its market cap as US-based cryptocurrency exchanges delisted it due to fear of the SECs enforcement action. Despite all the troubles, XRP maintained its position among the top 10 cryptocurrencies by market capitalization.
But its story is incomplete since the SEC and Ripples court fiasco remain at the climax. The comeback story can only be full if Ripple wins against the SEC.
John E. Deaton represents the token holders as amicus curiae in Ripples lawsuit. He has been actively following up and participating in the lawsuit court proceedings while throwing weight behind Ripple in the battle against the SEC.
Deaton said in a recent tweet that Ripple does not need to win for XRPs status as a security to get clarified. Ripple only needs a judicial opinion that secondary market sales are security offerings. This might be enough to clarify XRPs classification.
Meanwhile, the coin is soaring amid the heightened anticipation for summary judgment. The crypto asset has gained over 17% in the last 24 hours, with an over 40% price increase in a week. In addition, XRP has gained more than 50% price increase over the past 30 days.
Moreover, the number of whales holding Ripples native coin token has increased in the past month, suggesting people are showing interest in the coin. At press time, Ripples native token trades at $0.5546.
Featured image from Pexels and chart from TradingView
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John E. Deaton Claims XRP Is The Top Altcoin With A Comeback Story - NewsBTC
Ethereum price shows sign of rally, will Ethereum climb to $2,000? – FXStreet
Ethereum holders are gearing up for the upcoming Shanghai hard fork and token unlock event in April. Experts have considered the different outcomes of ETH token unlock and conclude that the selling pressure on the altcoin will be temporary or short-lived.The altcoins on-chain metrics support a bullish outlook, ahead of token unlock.
Also read: Why Vitalik Buterin is bullish on ZK coins
Ethereum is being accumulated by retail investors that own less than 0.1 ETH and large wallet investors or institutions that own between 1 million and 10 million tokens. Interestingly, ahead of the announcement of a date for Shanghai hard fork, large wallet holders on the ETH network started shedding their token holdings.
As seen in the chart below, there has been consistent accumulation of the altcoin by Ethereum holders.
Ethereum accumulation
Accumulation of the altcoin is typically considered a bullish sign. The altcoins supply across exchanges has steadily declined since March 22. A reduction in ETH supply on exchanges implies there is less Ethereum available for sale and there is a subsequent decline in selling pressure, as seen in the chart below.
ETH supply on exchanges
Experts have analyzed the upcoming ETH token unlock and concluded that the selling pressure on the altcoin is likely to be temporary. Once the ETH token unlock is complete, altcoins and Ethereum is likely to experience a correction for a short-term before a recovery in prices.
Ethereum's Merge turned the altcoin deflationary, reducing the supply by nearly 75,000 tokens. This played a key role in the bullish thesis for the altcoin, as without the transition to Proof-of-Stake, total Ethereum supply would have climbed above 2.2 million. This makes the Merge a key event in Ethereum's timeline and the PoS transition supports ETH bulls in their attempts to push the altcoin's price higher.
Analysts at MacnBTC argue that over 57% of ETH stakers have been able to access liquidity, with both their principal and rewards, in the past several months. This implies that there is less reason to worry about an impending sell off after the Shanghai hard fork.
At press time, nearly 72% of the stakers are underwater and it is less likely that these entities would shed their ETH holdings at a loss.
ETH stakers in profit
These points fuel a bullish argument and a recovery in ETH price, if there is a pullback or correction following token unlock.
As Ethereum price consolidates close to key resistance at $1,800, @CryptoJelleNL, a technical expert targets the $2,000 and $2,350 level for the altcoin.
ETH/USDT 3D price chart
Though Ethereum started the month in red, the analyst expects a bullish turnaround in the asset's price in April 2023.
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Ethereum price shows sign of rally, will Ethereum climb to $2,000? - FXStreet
Bitcoin vs Ethereum Price Prediction, Experts believe RenQ will give profits – Hindustan Times
New Delhi (India), March 30: Bitcoin and Ethereum have been the top two cryptocurrencies in the market for several years now. However, as the crypto industry continues to evolve, new altcoins are emerging that could offer better profit potential.
RenQ Finance (RENQ) is one such altcoin that experts believe could outperform both Bitcoin and Ethereum in 2023.
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Bitcoin vs Ethereum: A Brief Comparison
Bitcoin and Ethereum are both decentralized, open-source blockchain networks that allow for peer-to-peer transactions without the need for intermediaries like banks. Bitcoin was the first cryptocurrency, launched in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. Ethereum, on the other hand, was created by Vitalik Buterin in 2013 and launched in 2015.
While Bitcoin's primary use case is as a digital currency, Ethereum's blockchain is designed to support smart contracts and decentralized applications (DApps). Ethereum's native cryptocurrency, Ether (ETH), is used to pay for transaction fees and computational services on the network.
Bitcoin has a fixed supply of 21 million coins, while Ethereum does not have a fixed supply but uses a mechanism called "proof of stake" to ensure the network's security and stability.
Bitcoin and Ethereum Price Forecast 2023
Bitcoin and Ethereum have had an impressive run over the past few years, with Bitcoin hitting an all-time high of nearly $69,000 in 2021, and Ethereum reaching an all-time high of over $4,300 in May 2021 as well. However, both cryptocurrencies have faced significant price fluctuations in recent months, with Bitcoin now trading at around $27,684 and Ethereum trading at around $1,755 as of writing.
Many experts believe that both Bitcoin and Ethereum will continue to face price volatility in the coming years. Some predict that Bitcoin's price could reach $100,000 by the end of 2023, while others believe that it could fall as low as $10,000. Similarly, Ethereum's price forecasts for 2023 range from a high of $10,000 to a low of $500.
RenQ Finance: The Altcoin with Better Profit Potential
While Bitcoin and Ethereum have been the top performers in the cryptocurrency market, RenQ Finance (RENQ) is an altcoin that experts believe has better profit potential in the coming years. RenQ Finance is a decentralized finance (DeFi) platform that aims to provide institutional-grade liquidity to the DeFi market.
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One of the key features of RenQ Finance is its "smart contract" technology, which allows users to access liquidity from multiple sources, including centralized exchanges, decentralized exchanges, and lending platforms. This technology ensures that users always get the best price for their trades and allows them to move their assets seamlessly between different platforms.
Another significant advantage of RenQ Finance is its low transaction fees. Unlike Bitcoin and Ethereum, which have high transaction fees due to network congestion, RenQ Finance's fees are minimal, making it a more cost-effective option for users.
Experts predict that RenQ Finance could see significant price growth in the coming years, with some forecasting a price of $1 or more by the end of 2023. The platform's unique features and strong community support make it an attractive investment option for those looking to diversify their portfolio and capitalize on the growing DeFi market.
Conclusion
While Bitcoin and Ethereum have been the top performers in the crypto market for several years, new altcoins like RenQ Finance are emerging that offer better profit potential. RenQ Finance's innovative features, low transaction fees, and strong community support make it a promising investment option for those looking to capitalize on the growing DeFi market.
However, as with any investment, it's essential to do your own research and carefully consider the risks before investing in any cryptocurrency.
Click Here to Buy RenQ Finance (RENQ) Tokens.
Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.ioWhitepaper: https://renq.io/whitepaper.pdf
Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein. The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the views, opinions, announcements, declarations, affirmations etc., stated/featured in same. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice.
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Bitcoin vs Ethereum Price Prediction, Experts believe RenQ will give profits - Hindustan Times
Whales Quietly Boosting Ethereum Altcoin That Exploded 114% This Week: On-Chain Data – The Daily Hodl
An Ethereum (ETH)-based privacy-centric altcoin project is getting a boost from crypto whales making massive under-the-radar transactions, on-chain data shows.
According to blockchain tracking firm Lookonchain, crypto whales have been driving up the price of MASK token, helping it achieve its parabolic rallies over the past week.
Mask Network is a project that allows social media users to send content, messages or cryptocurrencies to one another in a private and encrypted manner.
MASK, the projects governance token, is up over 200% since 2023 kicked off. Lookonchain attributes the recent price increase to a number of deep-pocketed investors.
The price of MASK increased by ~44% today.
This market maker received 3.5 million MASK from address 0x5459 [on March 17th].
At the same time, multiple related addresses withdrew MASK from exchanges one after another.
Drive up the price of MASK again!
Lookonchain previously reported on the whale earlier this month, noting a 27% price increase for MASK in one day following large withdrawals from crypto exchanges.
The price of MASK rose from $3.27 to $4.16 today, an increase of 27%.
We noticed that a whale withdrew ~3.6 million MASK ($14.8M) from Binance, OKX, Kucoin and Huobi through multiple addresses.
It is likely that this address is driving up the price of MASK.
At time of writing, MASK is trading at $6.42, up over 4% in the last 24 hours.
Featured Image: Shutterstock/GelgelNasution
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Whales Quietly Boosting Ethereum Altcoin That Exploded 114% This Week: On-Chain Data - The Daily Hodl
Solana (SOL) up 16% to Join Altcoin Uptrend, Here Are Key Reasons Powering Growth – U.Today
Godfrey Benjamin
Solana's upsurge being driven by sentiment of potential ecosystem growth
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Solana (SOL) is returning to its winning ways with marked bullish growth today as there is a mixed-price action in the digital currency ecosystem. Solana is trading at a spot price of $23.32, up 7.30% over the past 24 hours, and by more than 16% over the past week.
For Solana, trending among the top-performing altcoins can be tagged as a regular feature as the protocol is one of the most robust in terms of ecosystem diversity. With its Decentralized Finance (DeFi) and Non-Fungible Token (NFT) ecosystem growing at a rapid pace, the demand for SOL has been rising, thus contributing to its current growth surge.
Solana has had a lot of troublewith its network stability in recent times and, at the moment, its current bullish outlook can also be attributed to the stability it has enjoyed over the past few weeks.
Solana is branded as one of the most versatile Layer 1 protocols, with the intention of unseating Ethereum (ETH) as the dominant smart contract hub. Though it still lags behind Ethereum onmost metrics, its DeFi growth uptick is a sign that the protocol has a brightfuture.
In a bid to bootstrap the growth of dApps and smart contracts in its ecosystem, Solana launched a now-completed hackathon it dubbed Grizzlython. The Grizzlython was described as the biggest in the history of the protocol, and it witnessed more than 800 projects submitting proposals for consideration.
This impressive growth potential has been tagged asviable positivity to look forward to as it can herald a new era of innovative solutions that can drive increased adoption of the Solana protocol. The launch of some of the projects from the Grizzlython on Solana will create a new demand outlet for SOL, which is bound to be beneficial in the long term.
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Solana (SOL) up 16% to Join Altcoin Uptrend, Here Are Key Reasons Powering Growth - U.Today
Cronos price is the altcoin to watch this week for a breakout trade that could bear a 90% gain by summer – FXStreet
Cronos (CRO) price is holding all the cards here this Friday as it goes against several of its brothers and sisters in the altcoin space. Price action is up over 6% for the week, and with the rally in Bitcoin price this Friday, another tailwind moves in favor of CRO. Should CRO be able to break the 55-day Simple Moving Average (SMA) to the upside, just one more element stands in between bulls and a 90% gain by the summer of this year.
Cronos price is delivering some very bullish signs this Friday before starting the weekend as it is up over 6% for the week. Although it had received a firm rejection earlier in the week, it becomes quite clear that bulls are strongly participating in the price action, and the tailwinds from Bitcoin price only add more fuel to the bullish bonfire. With market tensions settling over the weekend, expect that bulls have a fair opportunity at breaking that 55-day SMA at $0.0765.
CRO would next face the 200-day SMA going into next week at $0.0851, which might prove a bit tricky. Certainly seeing the weekly performance from February, where a false break triggered a near-full decline of all gains from that same week, traders are aware what they are up against. Should Bitcoin price rally further, expect that to be enough for CRO to break above the 200-day SMA and have a wide area open for the coming months with $0.16 as the profit target.
CRO/USD weekly chart
As mentioned in the above paragraph, a repetition of the events of February could happen again. That would mean bulls push through the 200-day SMA and are met with a wave of bears that push price action back below the moving average and might even trigger a full squeeze below the 55-day SMA. This would stop out many bulls and see price action falling back toward $0.0579.
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Cronos price is the altcoin to watch this week for a breakout trade that could bear a 90% gain by summer - FXStreet
Bitcoin (BTC) Price To Soon Hit $30K, Altcoin Season On Horizon Heres What Traders Can Expect – Coinpedia Fintech News
Amid the global banking crisis and fears of worldwide recession, analysts have plotted macro money inflow into the Bitcoin market in the past few weeks. As a result, the Bitcoin price printed its largest weekly gains since the January 2023 market reversal.
Having invalidated the 2022 crypto bear market, the Bitcoin price has continued to stay above the 200 WMA. Despite the 200 WMA acting as a crucial support level, the fears of a pullback induced by the weekly death cross still linger in most swing traders.
Consequently, most analysts are watching if Bitcoin can close the next few weeks above $25k, which could mean $30k is around the corner.
With the Federal Open Market Committee (FOMC) data on interest rates expected tomorrow, Bitcoins volatility is expected to heighten, and perhaps reach $30k. A continued bull case tomorrow will induce a fresh bull run on the altcoin market, where most traders make more profits on low-cap projects.
In his latest YouTube video, popular crypto analyst Joe Parys disputed the recent narrative that Bitcoin can hit $1 million in 90 days. According to Parys, Balajis bet is not sensible as at the moment Bitcoin price has been moving towards diminishing returns. As such, the analyst noted that high returns are currently based on altcoins like HEX, which has gained over 59 percent in the past 30 days.
Arguably, Bitcoin is bound to hit $1 million due to more countries like Venezuela whose economies are struggling with hyperinflation.
Notably, Parys thinks the altcoin season is about to kickstart with Ethereum headed for $2,000 soon. Moreover, Parys noted that Bitcoins dominance has historically declined after a bull market, which typically flows to the altcoin industry.
Altcoins Of The Day: Binance Coin and Fantom lead the recovering cryptocurrencies in the market – FXStreet
The crypto market has been exhibiting mixed signals, with the biggest cryptocurrency, Bitcoin, noting a minimal rise while altcoins take the lead. In line with the same, Binance Coin and Fantom stood among the few that pushed to keep the total value of all cryptocurrencies above $1 trillion.
Binance Coin price could be seen inching closer toward the critical resistance at $334.7 after marking another 7.35% rise on Thursday. Trading at $327.6, the cryptocurrency simply needs more bullish support from traders to push the price to mark new 2023 highs.
The Moving Average Convergence Divergence (MACD) indicates a bullish crossover for BNB, which could support the case. But the Relative Strength Index (RSI) is also inching closer to the overbought zone above 70.0. This zone is usually indicative of either a trend reversal or pullback.
BNB/USD 1-day chart
Thus if Binance Coin price corrects and declines below the critical support level at $294.5, it could crash to the year-to-date lows of $264.9. This would invalidate the bullish thesis and result in a 20% crash.
Before marking a 5% increase on Thursday, Fantom price was just recovering the 12.9% decline noted just the day before. However, the green candle came in clutch and managed to keep it above the critical support at $0.386.
Trading at $0.4064, the altcoin is open to further rises, as indicated by theRSI. The indicator is at the neutral line at 50.0, and a flip of the same into support would likely trigger a positive reaction. Although in order to seal the bullishness, the Fantom price would need to breach the critical resistance level above $0.492.
FTM/USD 1-day chart
Failure to breach the same could result in a decline, and this time around, it could push FTM below the critical support at $0.386. This would invalidate the bullish thesis and also mark a 27% crash for the altcoin.
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Altcoins Of The Day: Binance Coin and Fantom lead the recovering cryptocurrencies in the market - FXStreet
GMX Jumps 21% to Lead Altcoin Growth, Here’s Reason – U.Today
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GMX is leading the altcoin charge this morning in an unusually bullish way. The digital currency is trading at a 9.36% surge over the past 24 hours and by more than 21% in the trailing seven-day period. The GMX upsurge is coming at a time when the majority of altcoins are moving in a bearish tandem with Bitcoin (BTC), which is trading at a marginal loss of 1.52%.
GMX is designed as a decentralized spot and perpetual exchange that supports low swap fees and zero-price impact trades. GMX supports broad multi-asset pools that offer rewards to liquidity providers. As a DEX platform with relative stability, GMX is winning hearts and minds amid the growing turmoil in the banking ecosystem.
With the collapse of Silvergate and Signature Banks, two mega financial institutions that bankrolled the crypto ecosystem, investors and traders alike have been tagging DeFi as an alternative to maintain revenue generation through yield farming and liquidity provision.
Though there is competition in the space, GMX is currently carving out a niche for itself, and this is reflected in the current embrace of its native token.
One major hallmark of a perpetual futures exchange like GMX is its ability to deliver on its promises with respect to the use of rewards and distribution. In one of its latest updates on its official Twitter account, GMX said that more than $7.6 million have been collected in rewards over the past seven days.
With the distribution of these rewards, more than $6.5 million in Arbitrum (ARB) was collected and more than $1 million in Avalanche (AVAX). A small amount of GMX was also paid out to users. This lends credence to the sustainability of the liquidity provision niche in DeFi and has largely enhanced sentiment around the protocol and its native token.
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GMX Jumps 21% to Lead Altcoin Growth, Here's Reason - U.Today