Category Archives: Altcoin
Cardano Sees Upward Momentum Amid Altcoin Recovery; Significant Accumulation by Large Holders – Coinpedia Fintech News
The ongoing recovery in the altcoin market has propelled Cardano (ADA) to exhibit a notable upward momentum. As of October 19, Cardanos Total Value Locked (TVL) stood at around $207 million, and since then, the ADA price has surged by approximately 23 percent, trading near 30 cents as of Tuesday. A substantial spike of over 51 percent in the daily average trading volume to about $229 million over the past 24 hours signifies growing demand, particularly among institutional investors aiming to diversify their digital asset holdings.
The bullish trend for Cardano began unfolding at the start of the year and has been gaining traction. Market data from TradingView reveals that on a weekly time frame, ADAs price demonstrated a triple bottom pattern, accompanied by a bullish divergence on the Relative Strength Index (RSI), which remained above 50 on Tuesday. For a favorable near-term outlook, it is imperative for ADAs price to rally beyond the 200-day Moving Average (MA) and sustain above it. The ADA bulls have set a target of 45 cents as the crucial next level to breach, affirming a broader bullish sentiment.
A recent on-chain analysis by market intelligence platform Santiment showcased a significant accumulation spree by large ADA holders, referred to as sharks and whales, who hold between 100k to 10 million ADA units. Over the last fortnight, these entities have amassed an additional 43.71 million ADA coins, bringing their total holdings to about 33.71 percent of ADAs total supply. Remarkably, Santiments analysis also underlined that Monday witnessed the highest level of activity from older wallets transferring ADA since April 2022, indicating a potential shift in market dynamics.
In summary, Cardano is riding a wave of positive momentum amid the broader altcoin recovery, with notable price appreciation and heightened trading activity. The significant accumulation by large holders underscores the growing confidence and a potential bullish outlook for ADA moving forward.
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Cardano Sees Upward Momentum Amid Altcoin Recovery; Significant Accumulation by Large Holders - Coinpedia Fintech News
10 Things the Bitcoin Whitepaper Changed Forever – Altcoin Buzz
Little did the world know that this 9-page document would set in motion a revolution that would fundamentally change the global economy and finance forever.
In this article, we will explore how the Bitcoin whitepaper has reshaped the world of finance and the broader global economy.
At the core of the Bitcoin whitepaper is the concept of decentralization. Nakamotos ingenious design of the blockchain, a distributed ledger that operates on a network of computers, eliminated the need for centralized intermediaries like banks and governments to verify and record transactions. By doing so, it established trust in a trustless environment, enabling peer-to-peer transactions without relying on any single entity. This decentralization has transformed the way we perceive and conduct financial transactions.
The Bitcoin whitepaper introduced the idea of a capped supply of 21 million bitcoins, creating a digital form of scarcity. This finite supply, combined with the growing demand for Bitcoin, has positioned it as a store of value, similar to precious metals like gold. Bitcoins digital scarcity has redefined the concept of value storage, attracting investors and institutions looking for an alternative to traditional assets.
One of Bitcoins revolutionary aspects is its inclusive nature. The whitepaper emphasized permissionless innovation, allowing anyone to participate in the Bitcoin network, regardless of geographic location, background, or status. This approach has the potential to bank the unbanked and provide financial services to individuals who were previously excluded from the global financial system.
With traditional banking systems, international transactions are often slow and costly due to the involvement of intermediaries, currency conversions, and regulatory hurdles. Bitcoins borderless nature allows users to send funds across the globe quickly and at a fraction of the cost compared to traditional methods. This has opened up new opportunities for cross-border trade and international financial inclusion.
The Bitcoin whitepaper introduced a high level of transparency and security through its use of cryptographic techniques, including public and private keys. Every transaction is recorded on the blockchain, visible to anyone, and secured by the consensus mechanism of proof-of-work. This transparency has reduced fraud and corruption, significantly impacting the financial industry and making it more trustworthy.
Bitcoins whitepaper envisioned it as electronic cash, and it has indeed become a transformative force in the world of payments. As a peer-to-peer electronic currency, Bitcoin offers an alternative to traditional fiat money. It can be used for everyday transactions, both online and in physical stores, and is increasingly accepted as a form of payment by businesses worldwide.
The Bitcoin whitepaper reimagined monetary policy. It introduced a predictable issuance schedule, with new bitcoins generated through mining rewards. This contrasts with traditional central banks that can print money at will, potentially leading to inflation. Bitcoins fixed supply and controlled issuance have sparked conversations about how monetary policy can be redesigned for the digital age.
In many parts of the world, people lack access to basic financial services such as banking and credit. Bitcoins borderless and inclusive nature has the potential to bring financial services to billions of people who were previously excluded. This, in turn, can stimulate economic growth and development in underserved regions.
Bitcoins decentralization and borderless nature allow people to take control of their financial assets and wealth. It empowers individuals to be their own bank, reducing reliance on traditional financial institutions. This shift in control and wealth distribution is a significant departure from the centralized systems of the past.
The rise of Bitcoin has also brought a wave of investment and speculation. People and institutions have flocked to the cryptocurrency as they seek to benefit from its meteoric rise in value. While this has created opportunities, it has also raised concerns about market volatility and regulatory oversight, leading to ongoing discussions on the regulation of digital assets.
The Bitcoin whitepaper was not just a technical document; it was a revolutionary blueprint that has redefined the global economy and finance. It introduced the world to the concept of decentralized trust, digital scarcity, and permissionless innovation. Through Bitcoin, we have witnessed a paradigm shift in how we view and use money, conduct transactions, and store value.
As the world continues to adapt to this new financial landscape, the impact of the Bitcoin whitepaper is undeniable. It has sparked discussions on monetary policy, financial inclusion, wealth distribution, and the very nature of money itself. The whitepapers influence extends beyond Bitcoin, as it has paved the way for a multitude of blockchain technologies and cryptocurrencies, each with its own potential to change the world of finance.
In the end, the Bitcoin whitepapers legacy is one of innovation, inclusion, and the promise of a more equitable and accessible financial future for people across the globe. Whether or not Bitcoin itself remains the dominant force, its whitepaper has irrevocably altered the trajectory of global finance and the way we envision the future of money.
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10 Things the Bitcoin Whitepaper Changed Forever - Altcoin Buzz
South Korean Investors Prefer Altcoins to Majors, Tron to Ethereum: DeSpread Research – CoinDesk
South Koreans are active crypto traders, with local exchanges outperforming their global rivals in volume, and have a strong preference toward altcoins and local tokens, according to a report from DeSpread Research.
The number of crypto investors in the country hit about 6 million, or 10% of the population, this year, according to a Korea Financial Intelligence Unit (KoFIU) survey, the report said. "The majority of these investors are primarily engaged in investment activities centered around centralized exchanges, making the influence of centralized exchanges in the Korean crypto market significant."
Since March, centralized exchanges worldwide have seen declines in trading volume as bitcoin traded sideways. Local exchanges, such as Upbit the country's largest, bucked the trend, with trading volume growth outpacing market leader Binance by July.
"Korean exchanges had an explosive reaction to news related to Ripple. The trading volume of the four major Korean exchanges, which recorded $27 billion in June, increased to $37 billion in July, a 37% increase from the previous month," DeSpread wrote.
Korean traders, after all, are big into altcoins and not so fond of the major tokens, the report said.
"The majority of individual investors on Upbit show strong interest in altcoins with high-profit potential and tend to accept the associated high risks. This is considered one of the reasons for the high proportion of altcoin trading in the Korean market," DeSpread wrote.
"Cryptocurrencies that dominate the global market, such as Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC), boast large trading volumes worldwide. However, within Upbit, their trading volume shows surprisingly low levels," the report reads. "This phenomenon indicates that Upbit has unique characteristics compared to the global market and reflects regional disparities in investor preferences and investment strategies."
The preferred networks for transactions are different in South Korea as well, with Tron's network being used for the lion's share of transactions because of the relatively lower transaction fees.
While South Korean exchanges have registered a significant recovery in volume, the country's traders still use overseas platforms to store their assets. A September report from the country's national tax service shows that South Koreans hold $99 billion in digital assets overseas.
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South Korean Investors Prefer Altcoins to Majors, Tron to Ethereum: DeSpread Research - CoinDesk
Those altcoins are in ‘buy zones’: analyst – crypto.news
Crypto analyst and YouTuber Vance says several altcoins are currently trading in prime buy zones and could see significant gains in the near future.
In a CryptoBanter YouTube video published on Oct. 27th, Shon pointed out coins like Cardano (ADA), Gala (GALA), and SushiSwap (SUSHI) as being near key support levels and ready for a new uptrend.
Cardano is still one of my favorite ones for the the shorter time frames, he said, referring to a chart showing Cardano at support around $0.35. Gala popped check that trend retest straight back into it. Now Im happy for another push. He also highlighted Sushi as a good retest buy, saying Sushi is going to rocket.
Shon explained that he is expecting Bitcoin (BTC) dominance to fall in the near future, which would allow altcoins more room to run. He is preparing to take profits on some Bitcoin trades and focus more on altcoin entries.
I think there is going to be a release into all coins at some point, he said while examining a Bitcoin dominance chart. Theres one more leg here where altcoins all of a sudden just start to take off.
The analyst says he is keeping a close eye on Bitcoins price action and certain key levels, waiting for confirmation of an altcoin push. He recommends using tight stop losses and paying close attention to chart patterns like trendline breaks.
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Those altcoins are in 'buy zones': analyst - crypto.news
Crypto Analyst Benjamin Cowen Says Fed Pivot and Altcoin Rallies Wont Happen Until This Occurs – The Daily Hodl
A widely followed crypto analyst says that the Federal Reserve will likely keep rates higher for longer at the expense of risk-on assets like altcoins until something breaks.
In a new strategy session, crypto trader Benjamin Cowen tells his 788,000 YouTube subscribers that the Federal Reserve wont care to cut interest rates until the S&P 500 witnesses a severe corrective move.
Liquidity is flowing from high risk to low risk. [It] doesnt mean the lower risk things cant drop, its just that when they drop, that normally marks the end because when they drop then the Fed notices.
When the S&P drops, then the Fed starts to notice. Do you think the Fed cared about the S&P when it was at 4,600? No, its too elevated.
Do they care with it at 4,100? Probably not. Will they care if its at 3,500 or 3,400? Yes, they will start to care and that is when theyll start to cut is my guess. So watch the S&P if youre curious about when altcoins will turn around against Bitcoin.
As long as the stock market remains elevated, Cowen believes that the Bitcoin dominance (BTC.D) chart, which tracks the percentage of the total market cap that belongs to Bitcoin (BTC), will continue to rise, causing many altcoins to lag behind the crypto king.
Cowen also says that historically, BTC.D tends to reverse its uptrend when the Fed begins the rate-cutting cycle. Until then, he expects crypto investors to redirect their capital from altcoins to Bitcoin.
The more important thing to recognize is that [BTC] dominance topped out in September last cycle because the Fed had already started cutting rates we havent even seen the Fed start cutting rates yet, and last cycle it took another month or two after the first rate cut where dominance even topped out so why should be assume the dominance has topped out?
The S&P 500 is currently at 4,117 at time of writing, while BTCs market dominance is sitting at 54%.
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Crypto Analyst Benjamin Cowen Says Fed Pivot and Altcoin Rallies Wont Happen Until This Occurs - The Daily Hodl
After Chainlink, this Altcoin is Poised to Explode, Causing Ripples Throughout The Market! – Coinpedia Fintech News
Bitcoin dominance is spiking up while the BTC price trades consistently above $34,000. This can be considered a bullish signal, as the bulls appear to be in a gaining position. Besides, market sentiments have surged sharply beyond 70 as investors turn greedy. In the meantime, some of the altcoins have exploded, while others are closer to triggering a fine bull run.
In recent times, Chainlink has displayed an unremarkable jump by breaking above the multi-year resistance level. Uniswap, a popular altcoin, has traded below $9.5 ever since the beginning of 2022, while levels around $4 have formed a strong support level. Therefore, there are huge possibilities of a breakout loom, as more than 87% of the holders are about to wake up after a long time.
As per the data from intotheblock shared by renowned analyst, Ali, 87.5% of UNI holders are positioned at Out of the Money. This suggests the price is closer to triggering a breakout, as the selling pressure appears to have been exhausted to a large extent. Moreover, the number of UNI transactions is also slowly rising, indicating a rise in the traders activity with respect to Uniswap.
The above chart displays the number of large transactions, which has displayed huge variation in the past few days. As per the analyst, it signals a spike in institutional players as the whales appear to be interested at around the current price levels. Therefore, there are a lot of possibilities that they position themselves well before the UNI price triggers a breakout. So when will the UNI price undergo a price rise?
As mentioned above, the UNI price has been trading above the crucial support zone at $4, and to trigger a rise, it needs to break two major barriers.
The major wall is at $4.23 where 7000 addresses have bought 14.24 million UNI and the other one is at $4.45 with nearly 2000 addresses holding 10.28 million tokens. Once these barriers are cleared, a significant upswing could be triggered, lifting the UNI price above $5 initially. However, rising above $9.5 may begin a fresh bullish trend for the token in the coming days.
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After Chainlink, this Altcoin is Poised to Explode, Causing Ripples Throughout The Market! - Coinpedia Fintech News
Aptos Surpasses Ethereum Classic in Trading Volume, New Altcoin … – NewsBTC
While Aptos (APT) recently achieved a new record in TVL, Ethereum Classic (ETC) experienced a surge in price following speculation about Bitcoin ETFs potential approval. At the same time, VC Spectra (SPCT) has garnered significant investor attention with its innovative use of AI technology and impressive returns during its public presale.
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On October 24, 2023, Defillama, a prominent aggregator of DeFi total value locked (TVL), reported that the Aptos blockchain achieved a new all-time high in TVL, surpassing Ethereum Classic. The Aptos blockchain reached an impressive TVL of over $73.14 million, accounting for more than 70% of the TVL recorded just a month ago.
Following this news, Aptos experienced a 6.48% surge in its value. Within 24 hours, the price of Aptos rose from $6.18 to $6.58. This upward trend continued over the subsequent days, with the price of Aptos climbing from $6.58 to $6.99 between October 24 and 26, marking a 6.22% increase in its value.
Given the continuous growth in TVL, experts predict a further rise in the value of Aptos. They anticipate that the altcoin price could reach as high as $39.08 within the next year.
Speculation regarding potential approval was fueled by BlackRocks iShares ETF being listed on the clearing house DTCCs website on October 23, 2023. This development resulted in a significant surge across various cryptocurrencies, including Ethereum Classic (ETC).
Consequently, the Ethereum Classic price (ETC) experienced a 5.36% increase, rising from $15.86 to $16.71. The upward momentum of Ethereum Classic persisted in the subsequent days. Between October 23 and 26, the Ethereum Classic price (ETC) continued to climb, reaching $17.24, representing a further 3.17% appreciation in value.
Analysts are optimistic about the future prospects of Ethereum Classic, particularly if the overall market conditions continue to improve. They have predicted that the Ethereum Classic price (ETC) will reach $18.11 by November 2.
VC Spectra (SPCT), a decentralized hedge fund and trading platform, has taken the crypto market by storm with its ongoing public presale, attracting a flurry of investors seeking to benefit from its unique value proposition.
What sets VC Spectra (SPCT) apart from other altcoins is its innovative use of AI technology in its investment strategies. By leveraging artificial intelligence, VC Spectra aims to become a springboard for minting crypto winners, promising substantial returns for its investors.
One of the key strategies employed by VC Spectra is hedging, a technique that helps mitigate risk by offsetting losses in one asset with gains in another. This approach significantly reduces the overall portfolio risk for investors, providing them with a sense of security in an otherwise volatile market.
Moreover, the impressive performance of VC Spectra (SPCT) in its public presale stages further fuels investor enthusiasm. With the price of SPCT tokens reaching $0.055, early Stage 1 investors have already enjoyed an astonishing 587.5% in profits.
As the presale approaches its conclusion, VC Spectra (SPCT) is poised to exceed initial price predictions of $0.080, making it an enticing choice for investors seeking the best crypto to buy. Last but not least, SPCT is offering current investors a bonus on any deposits Dont miss out!
Learn more about VC Spectra (SPCT) and its presale:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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Aptos Surpasses Ethereum Classic in Trading Volume, New Altcoin ... - NewsBTC
Binance Crypto Exchange Launches Futures Trading for Ethereum-Based Altcoin Thats Surged Over 50% in a Week – The Daily Hodl
The worlds largest crypto exchange platform by volume is launching futures trading for one Ethereum (ETH)-based altcoin thats jumped over 50% in a week.
In a new announcement, crypto exchange Binance says that it will be launching futures contracts with up to 50x leverage for Powerledger (POWR), a decentralized energy market built on top of ETH that democratizes energy tokens.
According to Powerledgers official website, the crypto asset aims to aid the decentralization of the energy grid, help transition toward renewable energy, and help consumers keep track of their power usage.
We aim to lead the global democratization of the energy market in a way where people have access to the energy they need, can participate directly in energy markets and improve their lives and the lives of others
Our mission is to empower ordinary citizens and corporations alike, so that their renewable energy generation, storage and buying power is harnessed in an optimal way. Our mission includes bringing continuity in transmission and distribution that is less liable to conventional grid failures.
According to Binance, futures contracts for Powerledger will start being offered as soon as tomorrow.
POWR is trading for $0.247 at time of writing, a 22.5% decrease during the last 24 hours but a 59% increase since October 19th, when it was moving for $0.156.
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Weekly Cryptocurrency Market Analysis: Altcoins Resume Uptrend And Overcome Resistances – CoinIdol
This week crypto assets resumed their uptrend. Altcoins are trading within a positive trend zone, while cryptocurrencies continue to break new barriers.
The price of Pepe (PEPE) has recovered from its previous trend after rising above the moving average lines. The price of the cryptocurrency surpassed the moving average lines. It shows a pattern of higher highs and higher lows. PEPE rose to a high of $0.000003557 before falling back.
According to the price indication, PEPE will rise but will be rejected in the overbought region of the market. That is, PEPE may rise but then reverse at the level of 1.272 Fibonacci extension or $0.000001556. Meanwhile, the altcoin is trading below $0.0000013557. It is the best performing coin and has the following characteristics:
Current price: $0.000001145
Market capitalization: $481.65M
Trading volume: $125.18
7day gain:64.18%
Mina (MINA) is on the rise. MINA price made a significant movement to a high of $0.97. But the vertical trend fell abruptly and ended below the resistance level of $0.75. Although the rise has ended, the altcoin is steadily going down.
On the downside, the uptrend will resume if it goes back above the breakout level of $0.50. If the bears break below the $0.50 support, the downtrend will resume. The market may fall back to $0.38.
At the time of writing, the altcoin was trading at $0.60. It is the second most profitable cryptocurrency after PEPE. MINA is characterised by the following features:
Current price: $0.6064
Market capitalization: $660,411,084
Trading volume: $59,111,614
7day gain: 53.25%
The price of Injectables (INJ) moved sideways earlier. Resistance at $10 has hindered the uptrend since April 17. On October 23, the altcoin rallied by breaking through the overriding $10 resistance. At the time of writing, INJ is trading at $13.52.
The bounce ended in the last 48 hours as the altcoin fluctuated below the $14 resistance level. Meanwhile, INJ has entered the overbought zone of the market. It seems unlikely that the altcoin will continue to rise. Below are the advantages of INJ, the third best performing cryptocurrency:
Current price: $13.54
Market capitalization: $1,353,959,925
Trading volume: $75,589,429
7day gain: 51.22%
Conflux (CFX) was previously in a downtrend. But now the cryptocurrency is correcting higher after breaking above the moving average lines. The price of CFX rose to a high of $0.166 before falling back below the $0.16 resistance.
Since October 24, the altcoin has been trading below the resistance level in anticipation of a bullish rise. However, if CFX declines and finds support above the breakout level of $0.14, the market will continue to rise. If it loses the $0.14 support, the altcoin will come under selling pressure again. The fourth most valuable cryptocurrency is CFX. Features include:
Current price: $0.155
Market capitalization: $818,077,820
Trading volume: $68,092,166
7day gain: 44.91%
FLOKI (FLOKI) is in an uptrend after rising above the 21-day SMA support. The price of the altcoin is rising in a series of higher highs and higher lows. The altcoin climbed to the $0.0000400000 resistance zone before falling back. At the time of writing, it is trading at $0.0000362308.
If resistance is broken at the recent high, the altcoin will resume its climb. According to the price indicator, FLOKI will rise but reverse at the 1.272 Fibonacci extension or the $0.0000493173 level. In the meantime, FLOKI is trading below the resistance zone and is preparing to rise. FLOKI, the coin with the fifth highest value, has the following characteristics:
Current price: $0.00003631
Market capitalization: $360,910,453
Trading volume: $113,151,987
7day gain: 48.91%
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
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Weekly Cryptocurrency Market Analysis: Altcoins Resume Uptrend And Overcome Resistances - CoinIdol
Whales Showing More Interest Than Ever in Ethereum-Based Altcoin Amid 832% Rally in Two Months: Santiment – The Daily Hodl
The crypto analytics firm Santiment says that whales are showing significant interest in a red-hot Ethereum (ETH)-based Chainlink (LINK) rival.
The native asset of decentralized oracle protocol Tellor (TRB) clocked 51 unique $100,000+ transactions on Monday, a new all-time high.
TRB is trading at $91.66 at time of writing, up from around $9.83 two months ago, a staggering increase of more than 832%. Despite the massive gains, however, the asset remains more than 43% down from its all-time high of $161.12, which it hit in May 2021.
Santiment also notes that TRBs unique active addresses and newly created addresses are both surging.
Tellors price has now jumped ~+750% since July, and whales are showing more interest than ever before while new addresses continue to pour in. TRB is now the #192 market cap asset (and rising) as it leads the altcoin charge here in October.
Additionally, the analytics firm notes that LINK, blockchain scaling solution Polygon (MATIC), layer-1 blockchain Aptos (APT), and lending platform Aave (AAVE) are all witnessing their best-performing de-couplings of the year.
Unlike Bitcoins previous two brief visits to $30,000, this latest resistance level break to end the weekend has occurred as altcoins surge, rather than falling behind BTCs price.
LINK, the 14th-ranked crypto asset by market cap, is trading at $10.31 at time of writing. MATIC, the 13th-ranked, is worth $0.625. APT, ranked 35th, is currently changing hands at $6.23. The 41st-ranked AAVE is trading for $83.31.
Generated Image: Midjourney
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Whales Showing More Interest Than Ever in Ethereum-Based Altcoin Amid 832% Rally in Two Months: Santiment - The Daily Hodl