Author: Benjamin Lee
A closely followed crypto analyst is warning that payments token XRP and three other altcoins may suddenly collapse. In a new post, crypto trader Ali Martinez tells his 134,500 followers on the social media platform X that XRP may be forming a head-and-shoulders (H&S) pattern on the daily chart. An H&S structure is a bearish pattern indicating that an asset has lost momentum to sustain its uptrend after failing to print new highs. He also says that the Ethereum (ETH) hard fork Ethereum Classic (ETC), decentralized finance (DeFi) protocol Yearn.Finance (YFI) and a Bitcoin (BTC) hard fork Bitcoin Cash (BCH)…
A crypto analyst known for accurately calling Bitcoin’s pre-halving correction last year believes that BTC needs to reclaim a key technical indicator as support to regain bullish momentum. Pseudonymous crypto strategist Rekt Capital tells his 542,600 followers on the social media platform X that BTC appears to be mirroring its price action in 2021 when Bitcoin consolidated between two key exponential moving averages (EMAs) on the weekly chart. According to Rekt, Bitcoin must convert the 21-week EMA into support to trigger the resumption of bullish price action. “Earlier this week, Bitcoin rejected from the 21-week EMA resistance (green). As a…
Crypto asset manager and research firm CoinShares says institutional investors poured millions of dollars into altcoin digital asset investment products last week. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says crypto products enjoyed inflows last week after record-setting levels of outflows. “Digital asset investment products saw US$226m of inflows last week suggesting a positive but cautious investor. Following the largest outflows on record, ETPs have seen 9 consecutive trading days of inflows. Last Friday was the exception, seeing minor outflows totaling US$74m, likely in reaction to core personal consumption expenditure in the US coming in above expectations, implying…
Stablecoin firm Circle is teaming up with top American banks as it prepares for a reported April initial public offering (IPO) launch. According to a new Fortune report, USDC-issuer Circle is working with JPMorgan Chase and Citi Bank to publicly list the firm’s shares next month. Citing “two sources familiar with the situation” Fortune reports that Circle is planning to file the paperwork for the IPO in late April. Circle filed for the traditional IPO with the U.S. Securities and Exchange Commission (SEC) in January 2024. Circle has tried filing for an IPO in previous years, but the firm’s last…
The U.S. Securities and Exchange Commission (SEC) is reportedly closing its investigation into social media influencer Haliey Welch over the alleged rug pull of her memecoin. According to a new report by TMZ, the regulatory agency is closing the probe into Welch – known as the “Hawk Tuah” girl for her 2024 viral video – without filing any charges against her after it was alleged that she conducted a rug pull following the launch of Hawk (HAWK) in December. The SEC investigated Welch after her Solana (SOL)-based memecoin rapidly lost its value after a big rally, triggering accusations that the…
A memecoin creator notorious for being involved with several controversial projects is continuing to dump his coins even after a 95% drop. New data from the blockchain tracking firm Bubblemaps is shedding light on on-chain activity of Hayden Davis, who admitted to having a role in both Libra (LIBRA), a memecoin originally backed by Argentinian President Javier Milei before he quickly disavowed it, and Melania Meme (MELANIA), a coin inspired by Melania Trump. MELANIA began a steep descent the very day it was launched in January and is now down 95.3%. Says Bubblemaps, “Hayden Davis is STILL selling MELANIA He…
Digital asset management giant Grayscale hopes to launch an Avalanche (AVAX) exchange-traded fund (ETF) in the US. The Nasdaq Stock Market submitted a proposal this week to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of Grayscale Avalanche Trust, which would be entirely tied to the price of the layer-1 project’s native asset, AVAX. Grayscale isn’t the first financial giant to file for an Avalanche ETF. Documents submitted to the state of Delaware earlier this month suggest VanEck also hopes to launch a fund tied to the Ethereum (ETH) rival. Coinbase Custody will serve as the custodian…
Binance’s first class of memecoins chosen by traders is experiencing major volatility following their listings. Earlier this month, Binance introduced a new “Vote to List” campaign, allowing users to choose smaller projects to add to the world’s largest crypto exchange. “We now invite users to participate and vote on the first batch of Vote to List projects under the official post… on Binance Square Official. The first batch of Vote to List is exclusively for BNB Smart Chain-based tokens.” Yesterday, Binance announced the winners of the first ‘Vote to List’ campaign: memecoins Mubarak (MUBARAK), CZ’S Dog (BROCOLLI714), Tutorial (TUT) and…
Cryptocurrency trader and analyst Ali Martinez is leaning bullish on an altcoin that’s less than two months old while unveiling his forecast for XRP (XRP) and Sui (SUI). Martinez tells his 134,300 followers on the social media platform X that the native token of Berachain (BERA), the newly launched crypto project focused on decentralized finance (DeFi), could go up by up to 70% if the altcoin manages to break above a key resistance level. “Berachain is up 65% in the past two weeks and is now testing the upper boundary of this channel. A breakout here could open the gates…
A crypto whale is booking millions of dollars in losses after making several Official Trump (TRUMP) trades. According to blockchain tracking platform Lookonchain, the whale’s losses have ballooned to nearly $16 million on his TRUMP memecoin trades this month. “This whale sold 743,947 TRUMP ($7.92 million) at $10.66 [Friday] – taking another $3.3 million loss on TRUMP! He only profited on his first TRUMP trade. The next three were all losses, bringing his total loss to $15.7 million.” Earlier this month, Lookonchain noticed that the same whale at first made nearly $12 million on his initial TRUMP trade, before suffering…