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#BTCāļø #Binance $BTC
The National Securities Commission of Argentina (CNV) confirmed the country is considering cooperating with El Salvador on Bitcoin adoption. This follows an important meeting between Argentinian and Salvadoran regulators last week.
Officials from Argentinaās CNV met with Juan Carlos Reyes, head of El Salvadorās National Digital Assets Commission (CNAD), to discuss El Salvadorās Bitcoin regulation strategies.
Learning from El Salvadorās Experience
High-ranking CNV officials, including President Roberto Silva and Vice President Patricia Boedo, visited El Salvador. The President highlighted Argentinaās proactive stance in learning and praised El Salvadorās progress in forming cooperation agreements.
āEl Salvador has emerged as a leading country in the use of Bitcoin and the broader world of crypto assets. We want to strengthen ties with El Salvador. We will explore signing collaboration agreements with their government,ā Silva stated.
The CNVās efforts could relieve Argentinaās Bitcoin community. Despite President Javier Mileiās pro-Bitcoin stance, Buenos Aires faces pressure from the IMF to regulate crypto exchanges.
The country faces severe economic challenges, including high inflation and currency depreciation, have spurred Bitcoin trading. Crypto adoption has increased since 2017, with many using it for everyday transactions. The country has also seen a rise in crypto startups, offering innovative solutions to economic challenges.
The National Securities Commission of Argentina (CNV) confirmed the country is considering cooperating with El Salvador on Bitcoin adoption. This follows an important meeting between Argentinian and Salvadoran regulators last week.
Officials from Argentinaās CNV met with Juan Carlos Reyes, head of El Salvadorās National Digital Assets Commission (CNAD), to discuss El Salvadorās Bitcoin regulation strategies.
Learning from El Salvadorās Experience
High-ranking CNV officials, including President Roberto Silva and Vice President Patricia Boedo, visited El Salvador. The President highlighted Argentinaās proactive stance in learning and praised El Salvadorās progress in forming cooperation agreements.
āEl Salvador has emerged as a leading country in the use of Bitcoin and the broader world of crypto assets. We want to strengthen ties with El Salvador. We will explore signing collaboration agreements with their government,ā Silva stated.
The CNVās efforts could relieve Argentinaās Bitcoin community. Despite President Javier Mileiās pro-Bitcoin stance, Buenos Aires faces pressure from the IMF to regulate crypto exchanges.
The country faces severe economic challenges, including high inflation and currency depreciation, have spurred Bitcoin trading. Crypto adoption has increased since 2017, with many using it for everyday transactions. The country has also seen a rise in crypto startups, offering innovative solutions to economic challenges.
Solana is preparing for its bounce back as the asset hits the gas pedal near the $170 level, possibly changing the trajectory. Hopefully, the price level mentioned in the heading of this post turns out to be prophetic shortly. Recent price action does seem to suggest that Solana might be preparing for a significant breakout as it tests the $180 level in the near future.
Now, turning the light on to technical indicators, there are plenty of buy signals in the price of Solana on the daily chart. The price has held properly on top of the 50-day moving average, which stands as a significant support in an uptrend rally. RSI pointing upward still has room to go until it reaches 70 and currently is above the 50 level, indicating rising buying pressure
#Binance #solanainfo $SOL
Now, turning the light on to technical indicators, there are plenty of buy signals in the price of Solana on the daily chart. The price has held properly on top of the 50-day moving average, which stands as a significant support in an uptrend rally. RSI pointing upward still has room to go until it reaches 70 and currently is above the 50 level, indicating rising buying pressure
#Binance #solanainfo $SOL
BNB price started a downside correction from the $585 zone. The price must stay above $570 to start a fresh increase in the near term.
BNB price started a fresh decline after it failed to clear the $585 resistance zone.
The price is now trading below $580 and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support near $570 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair could start a fresh increase if it stays above the $570 support.
#Binance #BNBā© $BNB
BNB price started a fresh decline after it failed to clear the $585 resistance zone.
The price is now trading below $580 and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support near $570 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair could start a fresh increase if it stays above the $570 support.
#Binance #BNBā© $BNB
Ethereum (ETH), the biggest altcoin on Monday rallied from the $3,810 price mark to the $3,940 price level during the Asian trading time. It is expected the current surge came in likely due to Donald Trumpās pro crypto comments over the weekend.Ethereum is on the surge
The price jump is recorded post a shift by the US Securities and Exchange Commission (SEC) towards allowing crypto linked exchange-traded funds (ETFs). This move has helped Ether to surge by 26% over the last week.
However, todayās price action shows that the market participants are expressing their bullishness in Ethereum rather than BTC. This can be true with the potential institutional demand once the ETH spot ETF starts trading in the market.
While the experts are structurally positive, a major breakout is not visible until more clarity is received on the S-1 approvals and some inflow data. It should only be a matter of time before the Ether ETF opens for trade. Until then, ETH frontend vols could remain above BTC and ETH skew is likely to remain in favor of Calls.
The enthusiasm for Ether ETFs mirrors the excitement seen with the launch of US spot-Bitcoin ETFs in January, which have amassed $59 billion in assets. However, Etherās lower profile compared to Bitcoin makes investor demand harder to predict.
Ethereum is up by another 2.5% in the last 24 hours. It has surged by more than 71% on a year to date (YTD) basis. ETH is trading at an average price of $3,904, at the press time. It is just shy of breaching $4k at the moment. Its 24 hour trading volume is up by 64% to stand at $17.8 billion.Wassup with options?
Options markets reflect a bullish outlook, with significant bets placed on Ether reaching $5,000 or higher. Etherās record high is $4,866, achieved in November 2021. These optimistic bets also come with expectations of increased volatility.
#EthereumSignal #Binance $ETH
The price jump is recorded post a shift by the US Securities and Exchange Commission (SEC) towards allowing crypto linked exchange-traded funds (ETFs). This move has helped Ether to surge by 26% over the last week.
However, todayās price action shows that the market participants are expressing their bullishness in Ethereum rather than BTC. This can be true with the potential institutional demand once the ETH spot ETF starts trading in the market.
While the experts are structurally positive, a major breakout is not visible until more clarity is received on the S-1 approvals and some inflow data. It should only be a matter of time before the Ether ETF opens for trade. Until then, ETH frontend vols could remain above BTC and ETH skew is likely to remain in favor of Calls.
The enthusiasm for Ether ETFs mirrors the excitement seen with the launch of US spot-Bitcoin ETFs in January, which have amassed $59 billion in assets. However, Etherās lower profile compared to Bitcoin makes investor demand harder to predict.
Ethereum is up by another 2.5% in the last 24 hours. It has surged by more than 71% on a year to date (YTD) basis. ETH is trading at an average price of $3,904, at the press time. It is just shy of breaching $4k at the moment. Its 24 hour trading volume is up by 64% to stand at $17.8 billion.Wassup with options?
Options markets reflect a bullish outlook, with significant bets placed on Ether reaching $5,000 or higher. Etherās record high is $4,866, achieved in November 2021. These optimistic bets also come with expectations of increased volatility.
#EthereumSignal #Binance $ETH
#BTCāļø $BTC Following a modest bullish rebound from the significant support levels at $59K and the 100-day moving average, bitcoin has approached a critical resistance at $72K.
The price action at this key level likely sheds light on the cryptocurrencyās next major move. Technical Analysis
By Shayan The Daily Chart
A detailed analysis of the daily chart shows that the $72K-$74K price range has acted as a formidable resistance for bitcoin, halting several upward attempts in recent months. This range is characterized by a high level of supply, resulting in substantial selling pressure and making it a challenging barrier for BTC buyers to overcome.
Bitcoin buyers have been attempting to break through this significant resistance area for several weeks. A sudden breach above this critical juncture could trigger a notable upward movement due to a significant short-squeeze event, potentially leading to a new all-time high.
On the other hand, this pivotal juncture could also act as a barrier, leading to a period of sideways consolidation and minor retracements. In this scenario, the 100-day moving average at $64.7K will serve as a crucial support level in the mid-term.
#Binance #BTCāļø $BTC
The price action at this key level likely sheds light on the cryptocurrencyās next major move. Technical Analysis
By Shayan The Daily Chart
A detailed analysis of the daily chart shows that the $72K-$74K price range has acted as a formidable resistance for bitcoin, halting several upward attempts in recent months. This range is characterized by a high level of supply, resulting in substantial selling pressure and making it a challenging barrier for BTC buyers to overcome.
Bitcoin buyers have been attempting to break through this significant resistance area for several weeks. A sudden breach above this critical juncture could trigger a notable upward movement due to a significant short-squeeze event, potentially leading to a new all-time high.
On the other hand, this pivotal juncture could also act as a barrier, leading to a period of sideways consolidation and minor retracements. In this scenario, the 100-day moving average at $64.7K will serve as a crucial support level in the mid-term.
#Binance #BTCāļø $BTC
TheĀ Shiba Inu ecosystem has witnessed a notable rise in activity on its Shibarium network, marked by an increase in a key blockchain metric over the last 24 hours.Ā Shibariumscan reports that transaction volume jumped from 5,150 to 7,930, reflecting a notable 60% growth.
This spike in transaction volume has concurrently led to a sharp increase in network fees. The amount of BONE tokens used to pay these fees climbed from 16.68 BONE to 32 BONE during the same period.
As per Shibarium's transaction model, BONE are used for transaction fees, and a portion of these tokens is converted intoĀ SHIB, which are then burned. This burning process decreases the circulating supply of Shiba Inu tokens, potentially boosting their price over time.Source: Shibariumscan
Several elements are driving this surge in network activity. Recent market volatility has heightened investor interest in Shiba Inu tokens, leading to an increase in transaction demand onĀ Shibarium.Source: Shibariumscan
This heightened activity is evidenced by a 13.7% increase in active accounts on the network, rising from 687 to 781. Notably, while active user numbers grew, new account creation slightly declined, suggesting that the existing user base is fueling this surge in activity.
It seems that the dual advantages of rising transaction volumes and the systematic reduction of SHIB tokens through burning are driving the network's growth and potential for future value appreciation. This dynamic is likely encouraging SHIB enthusiasts to remain engaged and continue investing in the Shiba Inu network.
$SHIB #Binance
This spike in transaction volume has concurrently led to a sharp increase in network fees. The amount of BONE tokens used to pay these fees climbed from 16.68 BONE to 32 BONE during the same period.
As per Shibarium's transaction model, BONE are used for transaction fees, and a portion of these tokens is converted intoĀ SHIB, which are then burned. This burning process decreases the circulating supply of Shiba Inu tokens, potentially boosting their price over time.Source: Shibariumscan
Several elements are driving this surge in network activity. Recent market volatility has heightened investor interest in Shiba Inu tokens, leading to an increase in transaction demand onĀ Shibarium.Source: Shibariumscan
This heightened activity is evidenced by a 13.7% increase in active accounts on the network, rising from 687 to 781. Notably, while active user numbers grew, new account creation slightly declined, suggesting that the existing user base is fueling this surge in activity.
It seems that the dual advantages of rising transaction volumes and the systematic reduction of SHIB tokens through burning are driving the network's growth and potential for future value appreciation. This dynamic is likely encouraging SHIB enthusiasts to remain engaged and continue investing in the Shiba Inu network.
$SHIB #Binance
Probably the most unexpected comeback in 2024 was PEPE's rise to the top, flipping numerous "serious" cryptocurrencies left and right. The most recent achievement of PEPE was flipping Polygon and gaining 18th place on the cryptocurrency market. However, it is unclear how the asset will move from here.
PEPE has accumulated a market cap of $7.02 billion and is just slightly breathing on the back of Polygon at $7.12 billion. The surge was followed by the 12.96% surge in the price of PEPE, resting at $0.00001676. MATIC has moved backward 0.69%, with its price at $0.7184.ļæ¼ļæ¼PEPEUSDTĀ Chart by TradingView
PEPE has managed to show a very good upward trajectory by breaking many of the resistances it had faced. Currently, PEPE is trading at $0.00001698, showing strong bullish momentum. As seen from the chart below, the 50-day moving average, currently around $0.00000885, and the 100-day moving average near $0.00000765, are still far below the current price, indicating that the bullish momentum is still sustained. The Relative Strength Index stands at 78.76, showing that PEPE is very deep into overbought territory; however, big buying interest keeps pushing the price higher.
The question now is whether PEPE can maintain this current run and perhaps flip Polygon in market capitalization. Current high trading volumes are adding up to support of the bullish run, as well as to very positive market sentiment. Nevertheless, the RSI flashing overbought hints at some correction possibly coming in the short term. A quick watch of the key support levels for stability should be around $0.000015 and $0.000014.
The rise of PEPE has been very impressive, but it remains an extremely risky investment. Meme coins are extremely volatile, risky and often provide exposure that not many are willing to gain. At any given moment, the value of assets like PEPE can change rapidly without giving you a chance to cover your portfolio from losses.
$PEPE #Binance
PEPE has accumulated a market cap of $7.02 billion and is just slightly breathing on the back of Polygon at $7.12 billion. The surge was followed by the 12.96% surge in the price of PEPE, resting at $0.00001676. MATIC has moved backward 0.69%, with its price at $0.7184.ļæ¼ļæ¼PEPEUSDTĀ Chart by TradingView
PEPE has managed to show a very good upward trajectory by breaking many of the resistances it had faced. Currently, PEPE is trading at $0.00001698, showing strong bullish momentum. As seen from the chart below, the 50-day moving average, currently around $0.00000885, and the 100-day moving average near $0.00000765, are still far below the current price, indicating that the bullish momentum is still sustained. The Relative Strength Index stands at 78.76, showing that PEPE is very deep into overbought territory; however, big buying interest keeps pushing the price higher.
The question now is whether PEPE can maintain this current run and perhaps flip Polygon in market capitalization. Current high trading volumes are adding up to support of the bullish run, as well as to very positive market sentiment. Nevertheless, the RSI flashing overbought hints at some correction possibly coming in the short term. A quick watch of the key support levels for stability should be around $0.000015 and $0.000014.
The rise of PEPE has been very impressive, but it remains an extremely risky investment. Meme coins are extremely volatile, risky and often provide exposure that not many are willing to gain. At any given moment, the value of assets like PEPE can change rapidly without giving you a chance to cover your portfolio from losses.
$PEPE #Binance
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The world's first memecoin, DogecoinĀ ļæ¼DOGEUSD, recently experienced a significant price surge of more than 10 percent in the past week.
This increase comes amid growing interest from large crypto investors, known as whales, indicating a greater focus on theseĀ memeĀ cryptocurrencies.
Data from blockchain analytics firm IntoTheBlock shows a significant spike in whale transactions involving DOGE. These transactions, which exceeded $100,000, nearly doubled in a 24-hour period. This surge in activity was fueled by speculation surrounding the potential approval of Ether exchange-traded funds.
#Binance
$DOGE
This increase comes amid growing interest from large crypto investors, known as whales, indicating a greater focus on theseĀ memeĀ cryptocurrencies.
Data from blockchain analytics firm IntoTheBlock shows a significant spike in whale transactions involving DOGE. These transactions, which exceeded $100,000, nearly doubled in a 24-hour period. This surge in activity was fueled by speculation surrounding the potential approval of Ether exchange-traded funds.
#Binance
$DOGE
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