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After the recent rise of the Pepe (PEPE) meme coin, Bitcoin's BRC-20 token standard has become the latest fad in the crypto ecosystem. The BRC-20 standard has been used to create 8,500 tokens, most of which are meme coins such as PEPE and Memetic (MEME). With all this hype in the crypto industry, let’s explore more about what are these BRC20 tokens and how you can mint them. 

What are BRC20 tokens? 

The BRC-20 "token standard" is a test fungible token developed with Ordinals and Inscriptions and saved on the Bitcoin base chain. It deploys token contracts, mints tokens, and transfers tokens using Ordinal inscriptions of JSON data.

This is not a token standard in the sense that EVM chains create smart contracts that manage the token standard and its various rules, but rather a method of storing a script file in Bitcoin and using that file to attribute tokens to satoshis and then allowing them to move from one user to another. 

On March 8th, 2023, Twitter user @domodata developed the BRC-20 token. The name is a play on Ethereum's ERC-20 token standard, however, they do not interact with smart contracts like the EVM standard from which it derives its name.  

There are numerous methods for creating tokens on other chains, each of which has its own market and exchange with liquidity where they can be exchanged. The token market is a breeding ground for speculation and scams, and hearing this ERC-20 word may attract these consumers, who may then relocate to Bitcoin. 

While this may increase demand for Bitcoin to pay fees and take up block space, it may also entice naive investors to purchase meaningless metadata that only a few wallets manage to transform into something worth displaying in a human-readable manner. 

After understanding a brief of the BRC-20 tokens, let’s understand why they are hyped. 

Why are BRC-20 tokens so hyped? 

The original BRC-20 token contract for the "ordi" token has a hard cap of 1,000 tokens each mint and a total maximum supply of 21 million tokens. Since then, the market value of BRC-20 tokens has risen over the previous month, reaching an astounding $120 million, signifying a 600% increase in the last week alone. On May 1, BRC-20 tokens had a volume of 366,000 transactions, while the total number of transactions on the network was 2.36 million. As the demand for BRC-20 tokens continues to climb, so are transaction costs as a result of the increased token activity. With the increased hype of the BRC-20 tokens, the BTC chain is congested. 

Now that you know why BRC-20 tokens have been hyped, let’s explore how you can mint BRC20 tokens. 

How to mint BRC20 tokens? 

Bitcoin Tokens (BRC-20) are blockchain-based digital assets that are frequently used for decentralized finance, gaming, and digital collectibles. Unisat.io is a platform that enables users to easily generate, manage, and trade these tokens. We will lead you through the process of minting Bitcoin Tokens (BRC20) on Unisat.io in this comprehensive guide. 

Step 1: Create a Wallet 

You must first create a suitable wallet before you can begin minting tokens. Unisat is a well-known web-based wallet that accepts custom BRC20 tokens. 

Step 2: Integrate BRC20 Support into Your Wallet 

After you've created your wallet, you'll need to add BRC20 token support. Take the following steps: 

Choose the option to add custom tokens or assets to your wallet. 

Add the BRC20 token standard's contract address. You can find it on the Unisat.io website or in the token's documentation. 

Input the token's symbol and decimals that can be found in the documentation. 

Step 3: Get Some Bitcoin (BTC) 

You will need both Bitcoin (BTC) to mint BRC-20 tokens. Here's how to get them: 

Buy Bitcoin from any reputed exchange like Binance, Coinbbase, Kucoin, etc.

Buy Bitcoin from P2P

Borrow some BTC from your friend (Need really good friends for this)

Step 4: Add Bitcoin to Your Wallet 

Now that you have the necessary cryptocurrency, deposit them into your wallet by completing these steps: 

Find your Bitcoin Taproot (BTC) addresses in your wallet. Make sure it is a Taproot address.

Navigate to the withdrawal area on the exchange and enter your wallet addresses. 

Confirm the transaction and wait for the funds to appear in your wallet. 

Step 5: Register Your Wallet with Unisat.io 

Follow these steps to connect your wallet to Unisat.io: 

Visit the website Unisat.io. 

Select the "Connect Wallet" option. 

Select your wallet from the list of available alternatives and follow the on-screen instructions to connect. 

Step 6: Mint Tokens 

Now that your wallet is connected, you may begin minting BRC20 tokens. Take the following steps: 

Navigate to the "Mint Tokens" area of Unisat.io. 

Enter the desired token information, such as the name, symbol, and total supply. 

Choose the functionality of the token, such as whether it should be transferable or have a fixed supply. 

Click "Mint Tokens" to validate the transaction in your wallet. 

Step 7: Organise and Trade Your BRC-20 Tokens 

Manage and trade tokens on Unisat.io using the following steps: 

Go to Unisat.io's "My Tokens" area. 

View and control your tokens, such as changing the supply of the token or adding new functionality. 

To trade your tokens, go to the "Marketplace" section and make a new trading pair with the cryptocurrency of your choice. You need 20 UniSat points to trade on Marketplace. Please note that for each use of UniSat Inscribe to create an inscription (including TRANSFER minting in UniSat Wallet), the UniSat Points of your connected address will be incremented by one.

Set the price as well as other trading characteristics such as order type and quantity. 

Step 8: Market Your BRC-20 Tokens 

Consider advertising your BRC-20 tokens using the following avenues to boost their value and awareness: 

Social networking sites: To reach a larger audience, share your token's information and updates on platforms including Twitter, Facebook, and Reddit. 

To attract potential investors and users, participate in conversations on major cryptocurrency forums such as Bitcointalk and CryptoCompare. 

Press Statements: To announce noteworthy milestones or partnerships, publish press releases on recognized Bitcoin news sources. 

Step 9: Incorporate Your BRC-20 Tokens into Decentralised Applications (dApps). 

Consider incorporating your BRC-20 tokens into blockchain-based decentralized applications (dApps) to boost their usage and value: 

Finance Decentralised (DeFi): Allow your tokens to be used as collateral, staked for rewards, lent, and borrowed on DeFi platforms such as Uniswap, Aave, and Compound. 

Non-fungible Tokens (NFTs): Use your BRC-20 tokens as the underlying value to create digital collectibles, virtual goods, or in-game assets. 

DAOs: Use your tokens to enable governance and voting within decentralized organizations or communities. 

Step 10: Tracking the Performance of Your BRC-20 Tokens 

Consider using the following tools and resources to monitor the success of your BRC-20 tokens and make educated decisions: 

https://brc-20.io: Monitor the market value, trading volume, and market cap of your tokens on prominent cryptocurrency data aggregators on BRC-20. 

Ordspace.org: Examine your token's on-chain activity, such as transactions, holders, and token transfers. 

Dune Analytics: Create custom dashboards to visualize and analyze your token's statistics and trends. 

Bottom Line

Minting BRC-20 tokens on Unisat.io is a simple operation that can provide your digital assets with multiple potentials. You can easily create, manage, and trade BRC-20 tokens by following this step-by-step guide. To maximize their potential and worth, remember to market your tokens, incorporate them into dApps, and track their success. 

Main Takeaways:-

Ethereum ETFs performed better than Bitcoin ETFs during the mid-week jump in market volatility.

Traders are playing it safe in the short term by protecting their positions, showing they’re careful after the Musk-Trump situation.

U.S. Spot Ethereum (ETH) ETFs stayed strong on the charts, even though the market was volatile on Thursday. Interestingly, these ETFs received $11.26 million in new investments on 5 June.

In contrast, Bitcoin ETFs lost $278.44 million in a single day. This means Ethereum ETFs performed better, showing that big investors trusted ETH more during the recent market uncertainty. So far, ETH ETFs have received new investments for 16 days in a row.

Even though big investors were buying, ETH still fell by 7% because the overall market was avoiding risky assets.

Where Is Ethereum Headed? A Look at ETH’s Price Recovery

On Thursday, ETH dropped from $2,600 to $2,390, but later went back up to $2,400 by the time of reporting. Interestingly, investors took profits worth $454 million that same day.

For traders using borrowed money, buyers lost $256 million in forced sell-offs in the last 24 hours. In comparison, sellers only lost $30 million.

But when this was written, sales had slowed down. The seller exhaustion indicator went down to levels last seen in April, which means ETH is now a good time to buy and has lower risk.

This indicator shows when people are taking profits and how much the price is changing. When it spikes, it usually means the price is at a risky high point. When it is low, it often signals a local low or bottom, like it did in April and last October.

It’s important to know that trader Income Sharks said the altcoin (ETH) is still going up after staying above the $2,300 low level. He believes ETH still has a chance to reach $3,000 again.

Recently, more people, especially ETH treasury companies, have started showing interest in the altcoin again. If this keeps up in the next few months, ETH might go past the important $3,000 level.

Still, traders have been careful in the short term. According to options market data, the 25 Delta Skew dropped on Thursday for almost all time periods, including 1-week (blue), 1-month (purple), and 3-month (cyan).

This showed that more people were buying puts (bets that the price will go down or protection) than calls (bets that the price will go up), which means many expect the price to fall.

Specifically, the 1-week and 3-month periods had big increases, showing that traders were protecting themselves a lot in the short term because they expected prices might fall due to the Musk-Trump situation.

Even though the 1-week 25 Delta Skew (blue line) went up later, it fell from 5% to 3% by the time of reporting. This showed that traders were still careful, even after the price bounced back to $2,400 before the weekend.

Read also:- Warning Signs for AAVE: Price Could Drop 8% Soon

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Main Takeaways:-

Whale Alert shared that 53 million XRP, worth $118 million, was sent to Coinbase. This made people worry that many might sell their XRP.

If XRP falls below $2, its price might go down to $1.74. But if it rises above $2.26, it could go up by 22%.

Are Whales Selling Off Their XRP Holdings?

Looking at the current market and XRP’s price movements, whales and traders mostly expect the price to go down. This makes people wonder if XRP will keep its support level or if it’s getting ready for a big drop.

Whale Alert, a tool that watches big crypto moves, noticed that 53 million XRP, worth about $118 millio,n was sent to Coinbase in the last 24 hours.

So far, this big transfer from an unknown wallet to Coinbase has not been confirmed as a sale.

But this transfer happened around the same time XRP’s price dropped by 7%, which suggests that investors or whales might be getting ready to sell.

Also, these kinds of transfers usually come from whales and could mean they expect the market might crash soon.

Traders Place $91M in Bearish Bets Amid Market Uncertainty

Also, the XRP Exchange Liquidation Map from CoinGlass shows many short positions growing between $1.96 and $2.26.

At $2.268, traders have placed $91.66 million in total short bets, hoping the price won’t go up.

At the same time, traders still have $43.60 million in short bets at $1.962, making it hard for XRP to go up unless the price moves strongly in a positive direction.

This shows that traders betting on the price going down are now in control of the market.

Because of these big bets expecting the price to fall, it will be hard for XRP’s price to go above this level, which is now a strong barrier.

Right now, XRP is priced at $2.13, down 2.65% in the past day. Also, trading volume went up by 75%, showing more traders are active during this slow price movement.

XRP price action and key levels

AMBCrypto says XRP is testing the 200-day moving average at $2.08 and is just above important support. Even though the price dropped 21%, the overall trend is still positive, but the situation is weak and could change.

If the price falls below $2.00, the next important support is at $1.74, meaning the price could drop 13%. But if buyers take control and push the price above resistance, XRP could go up 22% to reach $2.60.

Right now, XRP is stuck between two sides: whales and traders who are unsure and worried, and on the other side, strong support and chances for the price to go up.

Read also:- $11M Flows into Ethereum ETFs Despite Volatility

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Main Takeaways:-

AAVE’s indicators signalled a loss of momentum in buying pressure in the last ten days.

A decline under $260 will be an early indicator of a further decline toward the lower range.

An AAVE whale purchased $15M of the altcoin after its fall to the $239-mark. This decline was observed as a value entry, with AAVE surging by 10% soon after. This happened before the crypto went down again at the time of writing.

More money coming in was helping support the positive trend at the time of writing.

Bullish Momentum Fades as AAVE Struggles at $280

On the 1-day chart, AAVE has been in an upward trend since May 8. The change to a bullish trend was marked in green, and since then, the coin has been making higher highs and higher lows.

The upward trend is still there, but in the last two weeks, the price has stayed between the same high and low points. This short period of sideways movement is worth looking at more carefully. Also, on the daily chart, the A/D indicator has not changed direction.

This might mean people are still buying the token steadily, but the buying has slowed down in the last ten days. The CMF indicator showed the same thing. It was at +0.06 when this was written, which means good money coming in, but it fell from +0.23 on May 25.

At the same time, the RSI showed the market is still strong. But if it falls below the middle 50 level, it might be a sign that the trend is about to change.

The 4-hour chart showed the price moving between $240 and $280 for the past two weeks. The middle point of this range is $260. When this was written, the price had dropped below $260.

Finally, the A/D indicator and CMF showed that buying was still happening. But the RSI was at 49.3, which means selling pressure was starting to grow.

Read also:- Crypto Dips, Tesla Tumbles 14% as Trump-Musk Drama Unfolds

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Musk’s fight with Trump over politics has made the crypto market more unstable, causing investors to feel unsure again.

A public fight between Donald Trump and Elon Musk has shaken the financial markets, causing Tesla’s stock to fall and making investors pull back from risky assets like crypto.

The conflict peaked on June 5 during a White House meeting with the German chancellor. There, Trump openly showed he was unhappy with Musk, who used to be one of his close advisers. Trump said, “I’m very disappointed in Elon. I’ve helped him a lot.”

Musk quickly replied. In a sharp post on X, he said Trump was ungrateful and added, “Without me, Trump would have lost the election.” This marked a big public breakdown of their strong partnership, which had grown during Trump’s second term.

Musk vs Trump: Tensions Shake Markets

Things got worse when Musk replied “Yes” to a post on X that said Trump should be impeached. This comment quickly got a lot of attention, even though removing Trump from office isn’t likely, since Republicans control the House and the Senate.

Markets reacted fast to the situation. Bitcoin dropped to $100,783 on Thursday but later went above $102,700. In the last 24 hours, more than $324 million worth of Bitcoin long positions were wiped out, according to Coinglass. The overall crypto market also fell by nearly 5% during that time.

The $TRUMP meme coin, which had climbed during the highs of their collabs, fell by 10%. Experts say Musk’s influence in the crypto space, combined with the political uncertainty, has added new uncertainty to a market that was already unstable.

Tesla Takes a Hit as Conflict With Trump Jeopardises Government Backing

Tesla’s shares dropped even more. The stock ended 14% lower on Thursday and has fallen 16% since Musk started criticising Trump’s domestic policy bill last week.

Tesla’s stock is now about 33% lower than it was on Inauguration Day. This shows more people worry that the fight could risk billions of dollars in government help and contracts that are very important for Tesla’s future.

Until recently, Musk was an important informal adviser to Trump. He helped with big policy decisions and often spoke for the government in other countries.

Musk’s quick exit from that close group has created a gap in tech-related plans. Now, markets are unsure how the government will handle important issues like electric cars and space projects.

Making things more uncertain, Musk has suggested he might start a new political movement. This idea, plus the chance that rules could change or money could be taken away, has made investors prepare for a tougher time. This affects not only Tesla but also the wider tech and crypto markets that often follow Musk’s actions.

The fight is more than just politics. It’s a rare situation where personal conflict is affecting the basic workings of the market. Right now, both crypto and Tesla are stuck in the middle of this struggle.

Read also:- Ethereum Set for a Bullish Breakout — $4K Target in Sight?

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Main Takeaways:-

Ethereum Price Prediction: ETH Shows a Morning Star Pattern on the Monthly Chart.

If Ethereum breaks above the $2,700 level, it could rise to $4,000 because of a pattern called an ascending triangle.

The monthly Stochastic RSI shows a positive signal, which supports a big change to an upward trend.

Ethereum Eyes $4K as Ascending Triangle Pattern Takes Shape

Analysts say Ethereum’s price is making a pattern called an ascending triangle on the daily chart. This means the price keeps hitting a flat resistance around $2,700, but the lows are getting higher, showing that buyers are getting stronger.

People usually see this Ethereum price pattern as a positive sign, especially when the price keeps getting close to the resistance level more and more often.

CryptoElites, a market expert, predicts Ethereum could reach $4,000 using a method called the measured move. This method adds the size of the triangle pattern to the point where the price breaks out to guess the next target. The analyst’s chart shows a similar past breakout, which makes the prediction more believable.

If Ethereum’s price goes above $2,700 with a lot of buying, it could start a new upward trend. Closing strongly above this level is important to confirm the price will keep going up. This move is also helped by a pattern where the price has been moving tightly, which usually happens before prices start changing more quickly.

Ethereum Shows Morning Star Pattern, Indicating Price Turnaround

Analyst CryptoBullet found a Morning Star pattern on Ethereum’s monthly chart. This pattern, made of three candles, a big red one, a small one, and a big green one, closing higher, usually shows the price might change direction and start going up.

Ethereum’s price made a Morning Star pattern around $1,800, which was a strong support level before. On the monthly chart, this pattern shows the market is likely changing from going down to starting a new upward trend.

The chart shows Ethereum’s price is having trouble going past $2,500. If it can close above this level on the monthly chart, it would confirm the price is turning up and could keep rising. CryptoBullet says the next target is $3,300, based on past price patterns.

Stochastic RSI Crossover Signals Strong Upward Momentum

Another sign that Ethereum’s price might go up is the Stochastic RSI on the monthly chart. Analyst Mister Crypto says the blue line has crossed above the orange line in the oversold area. This usually means the price momentum is changing and buyers are getting stronger.

In the past, these crossovers on bigger timeframes often happened before prices went up. Right now, this crossover matches the Morning Star pattern and areas where Ethereum has been gathering support on the chart.

Mister Crypto says Ethereum has gone through similar times before, where buying built up first, and then the price went up a lot.

The second buying zone on the chart looks like what happened after the 2021 high. Since the price is now steady above recent lows and momentum is getting stronger, this suggests Ethereum might be starting to recover. Traders watching the monthly charts might see this as a sign the trend is changing.

Tracking Key Levels Moving Into Q3 2025

On the monthly chart, traders are watching two main resistance levels: $2,500 and $2,700 on the daily chart. If Ethereum can break above these levels and confirm it, more buyers might join in and the price could go up quickly.

In past Ethereum price cycles, these levels have been tough to pass and are important points to watch for what happens next.

As long as Ethereum keeps making higher lows and moves past resistance, reaching price targets around $3,300 and $4,000 is still possible according to the technical analysis.

Data shows Ethereum is trading above the $2,500 resistance level, even though it dropped slightly by 0.16% in the last 24 hours. This small drop didn’t break the important support, so Ethereum’s price is still staying in a positive, upward trend.

Read also:- Bitcoin Charts Suggest $97K Move: Bear Flag Pattern in Play

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Bitcoin dropped 11% from its $111K all-time peak as traders if key price levels do not hold and trade tensions keep rising, Bitcoin might fall to $ 97k.

Main Takeaways:-

A bear flag pattern on the four-hour chart suggests that Bitcoin’s price could fall to $97,000.

Traders say Bitcoin’s price could fall as low as $85,000 if important support levels, like $100,000 and the yearly open near $92,000, are broken.

Breakout Points Signal Move Toward $97K Target

Bitcoin’s price has created a classic bear flag pattern on the four-hour chart. This happens when the price moves up a little in a narrow range after falling sharply, usually meaning the price will continue to go down.

For Bitcoin, the bear flag started forming after the price hit a low of about $103,100 on May 31. The price stayed in this pattern over the weekend, often testing the lower support line of the flag.

The downtrend will be confirmed if the price falls below the lower edge of the flag at $104,800. If that happens, the price could drop to about $97,690, which is the expected target based on the size of the previous price drop.

Momentum tools like the Relative Strength Index (RSI) also support this idea. The RSI is at 44 now, which means the market still looks more likely to go down.

Traders Reveal Key Bitcoin Price Zones for June

According to Cointelegraph Markets Pro and TradingView, Bitcoin (BTC) has fallen 6.3% from its record high of over $111,000.

Bitcoin’s price increased by 11% in May, but now traders are unsure where it will go next. In the past, June has been unpredictable, with an average small loss of 0.3%.

According to crypto analyst Daan Crypto Trades, the key price levels to watch in early June are $99,600 (the middle range) and $108,000 (the old record high).

The trader said there is a good chance that any price move in the first week could reverse, especially if there are early signs of a change in direction around those key levels.

A chart shared with the post showed that if Bitcoin goes above $108,000, it could climb to its all-time high of $111,900. But at that point, it would likely face strong selling pressure and fall back down.

Likewise, if Bitcoin falls below $99,600, the price could drop further until it finds support around $97,600, which is the 200-day average level.

Analyst AlphaBTC said on June 2 that Bitcoin seems to have begun a bigger drop, which will probably continue into the second week of June.

The expert said that if Bitcoin breaks down from a ‘bear flag’ pattern on the four-hour chart, its price might fall to around $102,000. If it drops below that, the price could go even lower toward the yearly opening price, which is just above $92,000.

AlphaBTC asked, ‘What will happen around $92,000?’ They said if this level is a good chance to buy, Bitcoin might bounce back and start a strong recovery toward new highs.

On the other hand, if trade tensions keep getting worse, Bitcoin could fall even more, down to about $85,000, according to the chart below.

As Cointelegraph reported, Bitcoin traders are watching how the price ends each week and month to guess where it might go next. The important price points they are paying attention to are $100,000 and $97,000.

Read also:- Is $2K BNB the Next Big Move? DeFi and ETF Hype Build the Case

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

Main Takeaways:-

The technical chart indicates BNB price breached above the key level, aiming for $1,552 in the short term and $3,975 in the bull cycle.

On May 26, the BNB chain surpassed $13.31B in daily DEX volume.

On May 29, Binance Coin grabbed 98.6% of daily on-chain trading volume, maintaining a commanding position in the DeFi space.

Technical Patterns Signal BNB Breakout and Next Cycle Milestones

According to expert Crypto Patel, the Binance Coin (BNB) price has breached resistance, indicating a trend shift. The price area of around $600 to $650 had acted as a ceiling for more than two years.

Since this zone has been passed, the expert thinks BNB’s price could reach $1,522 soon. He also said it might go as high as $3,975 if the strong upward trend continues during the bull market.

This prediction is based on a past pattern where the price stayed steady for a while and then went up. The latest price jump matches earlier times when BNB’s price rose after staying tight for some time.

Also, tools like the Fibonacci extension and price channel suggest that the strongest resistance levels might be around $1,000, $1,522, and $2,000. If the current strong trend keeps going, the price could move toward these levels soon.

BNB Chain Outpaces Rivals in DEX Volume Growth

On May 26, BNB Chain posted $13.31 billion in decentralized exchange (DEX) trading volume, the highest compared to all other blockchains on that day.

This volume was 7.9 times bigger than Ethereum’s $1.675 billion and 5.7 times bigger than Solana’s $2.32 billion, according to data from Cypher X and DeFiLlama. This shows that many users are active and there is a lot of money moving around in the BNB network.

Also, the increase in volume did not last just a short time. It helped BNB Chain beat the total volume of the top 10 blockchains combined.

Binance Dominates On-Chain Metrics at New High

Also, according to a Dune Analytics report, by May 29, Binance Chain was responsible for over 98.6% of all on-chain trades among the tracked blockchains. Binance Wallet and Binance Alpha played a big role in giving Binance Chain this level of control.

On the other hand, Binance Wallet controlled 96.1% of all wallet trading on May 25, after which it processed above $7.76 billion in trade volume.

Also, Binance Alpha helps keep users coming back by offering better search tools and easier access to Web3. This makes it simple for anyone to use BNB and stay active on the network.

Together, they create the foundation needed for users to keep using the network regularly, supporting the idea that BNB Chain is a leader in DeFi.

Market Momentum Strengthens on ETF Filing and Sentiment Boost

Also, outside rules and big companies have affected the market. The VanEck request to create a BNB Spot ETF has brought more investor interest and guesses about how traditional finance might start using BNB products.

Even though we do not know when approval will happen, just the filing has helped create positive feelings about the asset.

At the same time, the US SEC decided to drop its case against Binance, which has eased legal worries in the US. This has made big traders and crypto fans feel more confident about the BNB network.

At the time of reporting, BNB coin price was trading at $655, dropping 2.18% on the day, with bearish momentum after failing to stay above $670, indicating short-term downside pressure.

Read also:- The Bitcoin Boom: Why Altcoins Are Missing the Rally

Disclaimer: Bitcoinik.com presents the latest information in the cryptocurrency market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

Main Takeaways:-

Altcoins experience $1 billion in long liquidations as Bitcoin spikes in short liquidations.

Diverging liquidation trends show an increasing risk difference between BTC and altcoins after the ETF launch.

Since spot Bitcoin ETFs were introduced, the market has clearly split between Bitcoin and altcoins, especially in how liquidations happen.

As Bitcoin’s value surged, short liquidations increased. On the other hand, altcoins experienced heavy long liquidations as investors overvalued a rally.

Binance’s Cumulative Liquidation Delta (CLD) shows this difference. Bitcoin short positions were closed $190 million more than long positions, meaning strong buying pressure pushed short sellers to give up.

Altcoins Under Pressure Following Previous Bullish Forecasts

Altcoins experienced the reverse trend. During the same time, long liquidations surpassed short positions by nearly $1 billion.

This shows the market is very unbalanced. Investors were right to believe Bitcoin would do well, but they were wrong to think altcoins would also go up.

Instead of going up, altcoins kept dropping. Many traders using borrowed money lost their positions, especially when the market got more unstable and price support did not hold.

While risky assets with borrowed money had a hard time, Bitcoin grew more popular with big investors thanks to ETF investments.

Risk Appetite Broadens: What It Means for Markets

Since December 2024, the difference in liquidations has grown. More altcoins have been liquidated compared to Bitcoin, by several measures.

This trend mentioned an increasing risk divide in crypto. Bitcoin is observed as a safer, institutional-grade asset; altcoins are still risky and can lose more value.

ETF inflows into Bitcoin have increased this gap. As Bitcoin engages capital and short positions are forced to close, altcoin buyers are getting caught.

People expected an altcoin boom, but instead, billions were lost when many long trades were forced to close.

What Market Divergence Tells Us About the Road Ahead

These liquidation trends indicate a changing market. Altcoins are having a hard time keeping up with Bitcoin’s rise, which is being driven by strong demand. Right now, investors are mainly interested in Bitcoin, not the rest of the crypto market.

If money does not start moving back into altcoins, the difference between them and Bitcoin will keep growing. Using borrowed money to trade is still risky, especially with anything other than Bitcoin.

The results are easy to see on the daily altcoin market cap chart.

Read also:- Dogecoin’s $12 Target: A Historical Pattern Reemerges

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Big-time trader James Wynn is making and losing millions where everyone can see, and it’s drawing a lot of attention to Hyperliquid.

It looks like the whole observation of the crypto community is on James Wynn, the whale trader, who is drawing a lot of attention on Hyperliquid (HYPE). After gaining around $90 million in unrealised profit, at present, Wynn is in the danger zone.

James Wynn is one of the few big traders showing his crypto wallet and often shares updates on X (formerly Twitter). In May, people noticed him when he bet $830 million that Bitcoin would go up. The next day, he added another $1.1 billion as Bitcoin’s price went over $111,000. At that point, he was up about $40 million but only on paper.

Wynn used 40x leverage, meaning he borrowed a lot to make a much bigger bet. If Bitcoin dropped to $107,975, he would lose everything he put in. At first, the trade made money, but after news came out about Trump’s tariff plan, Bitcoin’s price dropped, and the trade started losing money.

On May 25, Wynn made a new bet that Bitcoin’s price would go down, worth about $856 million, again using 40x leverage. He did this to try to balance out his earlier losses. But he only kept the trade open for 15 hours and ended up losing $15.5 million on it.

His last trade that made money was on May 24, when he earned $18.4 million, probably to help manage risk. After that, he continued holding over 5,000 Bitcoin in his long position.

His last profitable trade was on May 24, when he earned $18.4 million, likely as part of a risk-management move. After that, he kept over 5,000 BTC in the long.

At the time of reporting, Wynn holds an open long position in Bitcoin worth 5,063.59 BTC. Even though that one trade made a small profit, the total unrealised gains and losses for the week in his wallet show a loss of $36.79 million.

The Risk of Transparency: Never Show Your Positions

Wynn’s big trades were the largest on Hyperliquid and got more people interested in the platform and decentralised exchanges (DEXs). Some people like that he is open about his trades, but others still doubt him.

Many traders think it’s unlucky to show their trades to the public, especially when the trades are very big. It can cause extra stress and make it easier to make bad choices when the market changes. With Wynn, thousands of people are now watching his profits and losses drop live.

Wynn is also popular for an excellent trade on the meme coin Pepe (PEPE). In April 2023, he made a prediction on X that PEPE’s market cap would increase from $4 million to $4 billion, and it did.

According to Lookonchain, he made $25.3 million from PEPE trades on Hyperliquid.

James Wynn has also traded other assets with leverage, including Ethereum (ETH), Sui (SUI), and Fartcoin (FARTCOIN). At its all-time high, his wallet showed around $87 million in gain. That instant decline made some people in the crypto world make fun of the losses.

However, James Wynn is still active on social media. On May 27, he said that even though things went down recently, his whole wallet is still up by about $25 million.

Losses for Wynn, Profits for Hyperliquid

Trades as big as James Wynn’s don’t happen often on decentralised exchanges, which can have their own special risks. But Wynn has said many times that he supports Hyperliquid. In one post, he said he won’t move to regular (centralized) exchanges and also explained why he shares his trades openly.

His trading activity also climbed platform metrics. For example, he paid $1.5 million in fees just for his profitable Bitcoin trade on May 24.

Read also:- Conor McGregor Discusses XRP’s Place in U.S. Strategic Reserves

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Dogecoin has not reached its previous high of $0.74 in 2021 yet, but many people still believe it could hit $1 during this market cycle. That’s because they expect another strong rally in altcoins, like the one that happened in 2021. However, if Dogecoin follows the same pattern it did during the last two big bull runs, then $1 might just be the beginning; the price could go much higher.

Dogecoin Follows Familiar Pattern: History Repeating?

Crypto expert Trader Tradigrade has observed an early similar pattern on the Dogecoin price chart that could suggest a rapid upward trend is coming. This pattern looks like what happened during the last two bull markets, just before Dogecoin’s price took off.

As the chart shows, this pattern first appeared before the big price rally in 2017. It begins a few years earlier when Dogecoin’s price makes smaller highs and then drops to retest support. After that, the price stays steady for a while, and then the trend breaks and the price starts rising. During the 2017-2018 bull market, this led to Dogecoin jumping over 2,000%, going from less than $0.00018 to over $0.0075 in just a few months.

Then, in the 2020-2021 bull market, the same pattern showed up again just before the price went up. After a period of steady prices, Dogecoin’s price broke out and went way up even more than before. It rose by over 30,000%, going from less than $0.002 to more than $0.73 in a few months. That’s still the highest price Dogecoin has ever reached.

Once again, Dogecoin is showing a similar pattern, and it seems like it’s close to another big price jump. Based on past trends and the current steady rise, this breakout could give even bigger returns than before. However, the total value of Dogecoin might limit how high the price can actually go.

Still, if Dogecoin has a similar price surge like it did in 2017-2018, it could at least reach $4 from where it is now. But according to a crypto analyst’s chart, the price might go even higher, possibly over $10, and maybe up to $12.

However, because there are over 149 billion Dogecoins in circulation, it’s very unlikely that the price will reach $12 this cycle. If it did, Dogecoin’s total value (market cap) would be more than $1.7 trillion, which is higher than what even Ethereum, the second-biggest cryptocurrency, has ever reached.

Read also:- Where’s James Wynn Now? After the $87M Blow

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

At present, UFC legend Conor McGregor is showing interest in XRP; he is looking at more than just Bitcoin because the U.S. is thinking about using different kinds of digital money. McGregor, who supports the idea of a Bitcoin reserve, is now learning about how XRP, Cardano, and Solana work without central control, which is causing people in the crypto community to talk and argue.

McGregor’s New Focus: Learning About XRP

In a post on X (formerly Twitter), McGregor said he wants to learn more about XRP and other altcoins. He mentioned that he had been told only Bitcoin and Ethereum are fully decentralised, but the U.S. government’s decision to add XRP, Solana, and Cardano to its planned crypto reserve made him interested and want to learn more.

This happened after the U.S. started talking about creating a Strategic Bitcoin Reserve earlier this year. Now, some states like Texas and New Hampshire are doing the same. Other countries, like Ukraine and Ireland, might join in. McGregor has even planned a meeting with El Salvador’s President, Nayib Bukele, to talk about doing something similar in Ireland.

XRP Supporters Speak Out

However, XRP supporters were quick to defend how decentralised it is. Important people like XRPL validator Vet and Anodos Finance founder Panos Mekras said XRP is just as decentralised as Bitcoin and Ethereum. They mentioned recent updates to the XRP Ledger that make it more decentralised and useful. Some experts also pointed out that XRP was one of the first to use features like token burning and turning real-world assets into digital tokens

.Dom Kwok from EasyA explained to McGregor that Bitcoin is mainly used to hold and store value, like digital gold. But XRP, Solana, and Ethereum can do more and have practical uses. That’s why, he said, the U.S. government is interested in these other coins; they offer real-world benefits.

In reply, a crypto expert named J.L. disagreed with Vet. He said that saying the reserve will only have Bitcoin is wrong. He explained that the U.S. crypto reserve will also include ETH, XRP, SOL, and ADA, and it’s only beginning with Bitcoin. He also said people are ignoring the fact that it will be a big collection of crypto and pointed to a statement from the Treasury after the executive order as proof.

XRP ETF Expectations on the Rise

On the other hand, XRP is catching the eye of institutions. Assuming a spot, XRP ETF is rising, with odds at present standing at 83%, even though the SEC is delaying. McGregor’s interest in XRP is growing at a time when big governments and investors are rethinking which cryptocurrencies should be part of the future of digital money.

Read also:- Glassnode Data Uncovers the Hidden Forces Driving Crypto Price Pumps

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Bitcoin is back in action; at present, it is trading at around $109K and reaching a $2.11 trillion market cap. What is causing these big price changes? A new report from Glassnode, a top blockchain data company, gives some answers. It shows that the two main types of buyers, people who believe in crypto for the long term and new investors, act very differently in the market.

Why Strong Believers Are Important During Big Market Changes

Glassnode’s newest study looks at how people buy and spend Bitcoin, Ethereum, and ERC-20 tokens. The data shows that strong believers and new buyers have very different roles.

Conviction buyers are people who believe in crypto for the long term. They don’t panic when prices go down. Glassnode shows these buyers usually come in when the market is at its lowest and fear is strongest. During good times, they buy when prices drop a little, helping to stop big drops and keeping the market steady.

But just believing strongly is not enough to make prices go up. You also need new buyers bringing fresh money.

New Buyers Driving Prices Up

Glassnode says that to have a big price increase, you need “First-Time Buyers.” These are people buying Bitcoin or Ethereum for the first time. When many new buyers join, they add new money to the market, which often makes prices go up quickly.

For example, from July to December 2024 and again from March to May 2025, Glassnode experienced a big climb in these new buyers. Both times, Bitcoin’s price rose fast after that. This shows how strong new buying can be.

The Market Is Still Driven by Emotions

Even though charts and data help, most traders make decisions based on their feelings. Many everyday traders follow fear, excitement, or what they see on social media. However, professional traders use these emotions to make smart moves for themselves.

That’s why Glassnode made a tool called the “FOMOmeter.” It shows when traders are feeling too excited or too scared.

Read also:- Top 5 Altcoins Ready to Soar, Analyst Says

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.

Is a big altcoin season coming? Crypto expert Rekt Fencer says GRASS, PENDLE, ONDO, ENA, and SEI could grow a lot soon.

The crypto market is getting ready for what some people call a “once-in-a-generation chance” for altcoins. Important data and money moving in the market suggest that a big altcoin season might be coming soon.

Leading this prediction is a crypto expert named Rekt Fencer, who recently shared a list of tokens he believes could grow 50 to 100 times in value if the market keeps moving in the same direction.

Altseason Signals Are Coming Together

Rekt Fencer’s idea, shared on May 27 on X, is based on a mix of big-picture and technical signs. The most important is the increase in stablecoins, which many see as money ready to be spent.

He also showed charts in his post that the stablecoin supply grew from about $50 billion in early 2021 to almost $250 billion by mid-2025. He said this shows more money is ready to be invested in riskier altcoins.

He thinks this is true because Bitcoin’s share of the market has dropped from 65.4% to 61.2% in the past few weeks. Also, Ethereum’s price compared to Bitcoin has gone up from a five-year low of 0.018 to 0.025, ending a three-year decline. This usually signals that altcoins might start to rise.

The changing flows advised investors are starting to shift into altcoins, and in this context, the market watcher highlighted five tokens he thinks could take the lead.

Top 5 Altcoins to Watch Right Now

Rekt Fencer’s initial selection was Grass (GRASS). At the time of reporting, it trades at $2.40; it has dropped 2.5% in the last 24 hours. However, the altcoin has surged around 12% in the last week and almost 50% in 30 days, as investors show confidence in decentralised infrastructure.

His second selection was Pendle (PENDLE), ranked #131 based on market cap. The altcoin gives investors a way to benefit from token-based future returns and is now priced at about $4.39. Its value has climbed more than 17% in the last seven days, adding a slight 0.4% in the last 24 hours.

Looking at the bigger picture, the past 12 months have not been great, as the data shows the price dropped by nearly 36%. However, PENDLE has done much better in the last 30 days, rising almost 30% thanks to the recent comeback of decentralised finance (DeFi).

Another DeFi darling on Rekt’s list is Ondo (ONDO). Trading at $0.9315 and with a $2.9 billion worth, it has observed consistent growth driven by increasing demand for real-world asset (RWA) tokenization. However, its recent price movement has not been impressive. The asset is down about 2% over the past 24 hours and the past week, and over the last 12 months, it has fallen by 24.5%.

Ethena (ENA) is currently priced at $0.37 with a market value of $2.1 billion. It provides a synthetic dollar that earns yield by using a strategy called delta-neutral with stETH. It’s the fourth token the analyst believes could lead the next altcoin rally. Although its price hasn’t changed much in the past week, some believe that if investors become more willing to take risks, the useful features of the project could boost its value.

Finally, Sei (SEI), the main token of the Sei Network, is the last one on Rekt Fencer’s list. Although it’s dropped more than 59% over the past year, it has gone up by 10.7% in the last month. The expert believes that because Sei is built for fast transactions and focuses on decentralised exchanges (DEXs), it might bounce back in the future.

Read also:- BNB Looks to Regain Strength: Rally or Resistance?

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

BNB’s price is holding steady above the $665 support level. At present, the price is indicating positive signals and might target more profits in the short term.

Main Takeaways:-

BNB price is targeting to rebound from the $665 support level.

At present, the price is trading under $675 and the 100-hourly simple moving average.

On the hourly chart of BNB/USD (from Binance), the price moved above a downward trend line that was acting as resistance at $665.

The pair must remain above the $660 level to begin another surge in the short term.

BNB Aims for a Stable Price Rise

BNB price stayed steady above $652, then began to rise again. It went past the $655 and $665 resistance points, similar to what happened with Ethereum and Bitcoin.

The price moved up nicely past the 23.6% Fibonacci level, which is part of the recent drop from $691 down to $653. Also, on the hourly chart of BNB/USD, the price broke above a downward trend line that was acting as resistance at $665.

At present, the price is trading under $675 and the 100-hourly simple moving average. The price could experience resistance near the $672 level on the upward trend. It is near the 50% Fib retracement level of the current drop from the $691 fluctuating high to the $653 low.

The next resistance is around $677. If the price clearly goes above that level, it could rise even more. In that case, BNB might reach $680. If it stays above $680, it could continue moving up toward $685. If the price keeps climbing, it might even test the $700 level soon.

Another Decline?

If BNB can not rise above the $675 resistance, its price might start going down again. The first place it could find support is around $665. If it drops further, the next strong support is near $662.The main support stands at $665. If there is a downward trend under the $655 support, the price could decline toward the $650 support. Any more losses could start a bigger drop toward the $642 level.

Technical Indicators

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is presently above the 50 level.

Hourly MACD (Moving Average Convergence Divergence) – The MACD for BNB/USD is increasing pace in the bullish zone.

• $662 and $655 – Major Support Levels

• $672 and $680 – Major Resistance Levels

Read also:- ETH Price Slips After Recent Rally – Where Could It Head Next?

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

Main Takeaways:-

Ethereum declined to $2,476 after being denied at $2.7K, pointing to a 3.05% 24-hour decline.

On the spot market, 113.1K ETH were sold while only 90K were bought. This shows that more people are selling than buying, which suggests stronger selling pressure.

Sellers Dominate as Taker Buy-Sell Ratio Drops Sharply

According to CryptoQuant, the 14-day Moving Average of the Taker Buy-Sell Ratio declined quickly. Generally, this change marked a growing strong selling pressure outweighing buying.

Both small and big Ethereum holders are selling more now. Big holders, called whales, have sold more Ethereum than they have bought.

Into TheBlock’s Large Holder Netflow number went negative, showing -12.7K ETH. This means big Ethereum holders (whales) sold more than 188.6K ETH in just one day.

With this metric declining to negative, it indicates that whales are presently in selling mode.

This selling trend is also seen with regular traders, as more people are selling than buying in the spot market.

Looking at the spot market, there were 22.53k more Ethereum sold than bought on the last day.

A negative number means more people are selling than buying. Right now, 113.1k ETH were sold, but only 90k ETH were bought.

Crucial Test for ETH: Is a Drop Below $2.2K Coming?

Ethereum is trading around a breakdown zone as selling momentum stays firm.

At present, Bears dominate the market, raising the risk of further price drops. If the selling pressure remains, Ethereum could experience an extended downturn, with $2.2K as a key support level. Maintaining above $2.2K is critical to avoid a decline under $ 2 K.

If most of the selling is done by short-term traders who quickly give up, it might mean the price is just taking a break before going up strongly again.

If selling slows down, Ethereum’s price could rise back to $2.7K and maybe even $3K, but buyers need to start strong again for that to happen.

Read also:- What Could Move Crypto This Week? 5 Key Drivers

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

U.S. financial markets are closed on Monday for Memorial Day, but a lot of important economic information will be released throughout the rest of the week.

Trade war worries came back to the markets late last week after Donald Trump made new threats against phone companies and the European Union. Because of this, tech stocks and crypto markets dropped, even though Bitcoin had hit a record high the week before.

On Sunday, Trump decided to postpone 50% EU tariffs until July 9, providing brief relief from tensions.

Economic Events May 26 to 30

Tuesday will experience consumer confidence numbers shared, which indicates sentiment and consumer purchasing capacity.

The Federal Reserve will share the notes from its May meeting on Wednesday. These notes might explain more about when the bank could lower interest rates. No big surprises are expected, but investors are guessing if rate cuts will happen in the second half of 2025.

On Thursday, the report for how much the economy grew in the first three months of 2025 will be released. An early estimate showed the economy actually got smaller by 0.3% during that time.

On Friday, the report for April’s Core Personal Consumption Expenditures (PCE) will come out. It shows inflation based on what people spend but doesn’t include food and energy prices. The Federal Reserve uses this report to understand inflation.

The first numbers for May’s Michigan Consumer Sentiment Index and Inflation Expectations will come out on Friday. These show how confident people feel and what they expect for inflation in the future.

It is also a big earnings week with attention on Nvidia, which reports on Wednesday, and strong figures from the chipmaker could impact AI token prices.

Weekly Crypto Market Outlook: Movers and Shakers

Crypto markets have increased during Monday morning’s trading session in Asia following Trump’s extensions of the tariff implementation for Europe.

The overall capitalisation was $3.56 trillion, which has stayed within a sideways range that started two weeks ago when Bitcoin started to rise.

BTC has slowed down from its May 22 all-time high of $111,814 and dropped to $107,000 on Sunday before showing a small rebound. The asset had bounced back to reach $109,000 on Monday morning.

Ethereum dropped under $2,500 on Sunday and is showing a little bit of improvement above it right now. However, the asset’s price changes have been much smaller compared to BTC.

Most altcoins went up on Monday morning. Solana and Cardano had a little bigger increase, and Hyperliquid went up by more than 14% that day.

Read also:- Solana Eyes $200, But Market Sentiment Remains Mixed

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

Hong Kong, China, May 22nd, 2025, Chainwire

Solana users will be able to transact with Dogecoin securely, powered by Psy and Wormhole, tapping into a $36B asset and its vast community for DeFi, gaming & more.

Psy (formerly QED Protocol) has developed a trustless bridge connecting Dogecoin to the Solana blockchain. This innovation brings proof-of-work security to Solana while making Dogecoin, the world’s largest memecoin, available to Solana’s ecosystem of dapps.

This innovation allows Solana and Dogecoin to directly ‘speak’ to each other, with each blockchain able to independently verify the other’s transactions and consensus without requiring trust in third parties.

The bridge not only enhances security but also creates substantial ecosystem opportunities. Bringing Dogecoin’s $36B+ market cap and massive community to Solana opens new possibilities for both networks. Dogecoin users gain access to Solana’s DeFi, NFT, and gaming applications, while Solana developers can tap into Dogecoin’s extensive user base. 

Unlike traditional bridges, which often rely on multisig signers or custodians, Psy’s next-generation proof-of-work technology validates Dogecoin Proof of Work consensus directly on Solana. This trust-minimized approach helps address a major weakness in crypto infrastructure: bridge hacks, which have caused more than $2.8 billion in losses to date.

This positions Psy as the leading proof-of-work innovator for Solana, bridging the security benefits of proof-of-work with Solana’s speed and programmability. This integration demonstrates that new proof-of-work chains, like Psy’s, can interact with high-performance blockchains without sacrificing security or requiring centralized intermediaries.

This bridge continues Psy Protocol’s mission to empower developers to build hyper-scalable web3 applications to host the next generation of the decentralized internet.

The bridge supports standard Dogecoin wallets and exchange deposits.

Quotes

“We have been working hard to find ways to better serve the Doge community, and now we get the chance to offer them even greater utility for their Dogecoin,” Carter Feldman, CEO of Psy Protocol, said. “This demonstrates the promise of combining best-in-class security with user demand and an established developer base.”

“We’re thrilled to announce the DOGE bridge to Solana, a big step in welcoming one of crypto’s most iconic communities to the Solana ecosystem,” said Lily Liu, President of the Solana Foundation. “DOGE, Bitcoin’s beloved pet, embodies the fun, irreverent spirit that drives on-chain culture. By bridging DOGE into Solana’s network, we’re inviting the Dogecoin community—and all OG crypto enthusiasts—to join us in marrying on-chain culture and decentralized finance.”

“Trustless verification has always been the holy grail of interoperability, but achieving it at scale has remained elusive,” said Robinson Burkey, co-founder of Wormhole. “Seeing Psy and Wormhole come together to build this around an asset like DOGE captures the true cyberpunk spirit of crypto. We’re excited to help bring a $36B asset to Solana—soon to be powered by Wormhole.”

How the Bridge Works

The bridge captures and verifies each Dogecoin block header on Solana. Block headers contain essential blockchain data, including the previous block hash, timestamp, difficulty target, the Merkle root of all transactions in the block, and the Proof of Work consensus algorithm. By verifying these headers directly on Solana, the system cryptographically confirms the validity of Dogecoin transactions without intermediaries.

When users send DOGE to the bridge, the system verifies the deposit on the Dogecoin blockchain and mints an equivalent amount of QDOGE tokens on Solana. To convert back, QDOGE tokens are burned on Solana, with withdrawal messages securely transmitted through Wormhole’s cross-chain messaging protocol, triggering the release of the original DOGE to the user’s Dogecoin address.

To enable this bridge, Psy has created a suite of infrastructure for developers:

txindex: a fully-featured indexer for Dogecoin with effortless handling of forking behavior

electrs-doge: the first open-source block explorer for Dogecoin

doge-sdk: the first JavaScript SDK for Dogecoin

forkr: an easy-to-use tool for simulating forks/re-orgs on Bitcoin and Dogecoin.

About Psy Protocol

Psy is the leading innovator in next-generation proof-of-work technology, on a mission to restore the security and decentralization principles of blockchain while enabling modern scalability. Psy is bridging the utility gap between Proof of Work and Proof of Stake chains, empowering developers to build hyper-scalable web3 applications, to provide a credible alternative to a centralized internet controlled by a handful of tech monopolies.

Contact

MrJosh [email protected]

Main Takeaways:-

Solana is showing a “cup-and-handle” chart pattern, which often suggests a possible price increase. At the same time, most traders on Binance are betting that the price will go up.

Feelings and online activity around Solana are still low, showing that people are being careful, even though the charts suggest the price might go up.

Solana (SOL) is creating a textbook cup-and-handle pattern in the weekly chart. At present, the price is testing the neckline resistance between $200 and $210 following a rebound from $135.

At the time of reporting, SOL traded at $170.20, pointing to a 1.57% decline in the past 24 hours. Even though the price dropped a little, the chart pattern stayed strong, and buyers are still trying to push the price above the downward trendline.

So, if the price clearly moves above $200, it could lead to a strong upward move and confirm that the trend is turning bullish.

Neutral Trading Activity Edges Toward Outflows

Exchange flow data from the 16th of May indicates $148.49M in inflows and $149.55M in outflows. This small difference between the two metrics indicates that selling pressure is still down.

So, most investors seemed to be keeping their investments instead of selling them.

This kind of behaviour usually helps support a price increase, especially when the price is close to a key barrier. But since there aren’t many people pulling their money out, it shows that confidence is still low.

As a result, Solana may need stronger assumption signals to support a breakout over the psychological $200 level.

Dominant Long Bias Highlights Bullish Trader Sentiment

Binance data indicates that 70.53% of traders currently hold long positions at the reporting time, with a Long/Short Ratio of 2.39. This big difference shows that people expect the price to go up even more.

That kind of positioning can help prices rise quickly when they break out. But it also means the market could suddenly drop if prices go the other way, causing many investors to be forced to sell.

Even though there’s a risk, the fact that most traders are betting on prices going up shows they are confident. So, if the price goes above $200, it could rise even faster because more investors might jump in, and those betting against it may be forced to buy, pushing the price up more.

But people’s overall feelings about Solana are still slightly negative, with a sentiment score of -0.46. This means most traders are still being careful. Even though the price chart looks strong, most people have not started feeling positive yet.

In the past, price increases that started when most people were feeling negative often continued for a longer time.

Retail backs down?

Interest in social media has gone down, and fewer people are interacting. Trading volume was 162, and its share of the market fell to 3.74%.

These figures indicated that Solana was no longer the centre of focus of retail interest. Yet, this lack of attention could work to its benefit.

Price usually goes up when there is little confusion or distraction. But since not many people are interested right now, the big price jump might take longer. If more people start talking about it on social media, that would show stronger belief, but for now, interest is low.

In the end, SOL looks like it has a good chance to go up because of a clear chart pattern called a cup-and-handle, and many traders are betting on the price going higher.

Yet, broader market actions still mixed, with lower sofeelingslume and small negative feelings indicating low broad support.

Read also:- After the Climb: What’s Next for Dogecoin at $0.22?

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

Dogecoin (DOGE) has maintained consistent momentum in the current weeks, which is in line with the broader surge across the cryptocurrency market. In the last two weeks, DOGE has increased by more than 25%, boosting its price as high as $0.24.

Although growth has occurred, the asset faced a minor dip in the last 24 hours, dropping by 0.3% to $0.22 at the time of reporting. The recent changes show that more people, especially everyday investors, are getting interested in the asset again.

What Retail Traders Are Saying About Dogecoin

Burak Kesmeci, who writes for CryptoQuant, currently shared new information about Dogecoin’s futures trading. In a post called “Too Many Retail Traders? DOGE Futures Show Repeated Peak Patterns,” he talked about how a lot of traders might be trading based on guesses and speculation.

His analysis indicates that the last highs of Dogecoin’s price have often coincided with a quick surge in individual investor involvement in futures markets, highlighting concerns about the durability of the rallies.

Kesmeci’s analysis focuses on a chart that shows how much retail investors are trading Dogecoin futures. In the chart, red bubbles show times when retail trading suddenly increases a lot.

According to the expert, these times usually happen right before prices reach a local high, meaning lots of guessing and trading often come before short-term price drops. On the other hand, green and pink bubbles show times when fewer retail traders are active, and those times usually match with steadier or calmer price movements.

The main idea is that when many retail traders are active in Dogecoin futures, the price momentum is more likely to slow down or stop. For traders, these big increases in retail trading can be a warning that the price might change direction soon.

As Kesmeci mentioned, this data can be used together with other technical and on-chain metrics to create a more thorough analysis of market mood, generally in unstable assets like Dogecoin. The report supports a more careful strategy where retail investor excitement drives trading volumes.

Technical Indicators Suggest Rally Could Persist

While futures data shows caution around likely retail-driven tops, other technical perspectives advise the chance of additional gains. Crypto expert Javon Marks currently shared an outlook showing that DOGE may be set for a continuation toward a new all-time high.

Marks says the asset’s chart shows a strong buy signal, meaning the price might keep going up. He thinks the next big price goal is about 200% higher than where it is now.

Read also:- XRP vs HBAR: Who Will Lead the Next Crypto Bull Run 2025?

Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.