Author: Benjamin Lee
A widely followed cryptocurrency trader is turning bullish on Solana (SOL) while expressing his reservations about the Ethereum (ETH) competitor. The trader pseudonymously known as Credible Crypto tells his 460,500 followers on the social media platform X that Solana passed the “first test” by bouncing off the “must-hold” level of roughly between $165 and $190 and subsequently reaching a new all-time high of approximately $293. The widely followed analyst says that even though Solana is likely to climb higher, there’s one reason holding him back from going long on the fifth-largest crypto asset by market cap. “For what it’s worth,…
A widely followed crypto analyst says that one rival of dog-themed meme assets Dogecoin (DOGE) and Shiba Inu (SHIB) is repeating a move it did previously that caused it to spark a 200% rally. In a new strategy session, pseudonymous crypto trader Inmortal tells his 227,000 followers on the social media platform X that the last like memecoin Floki’s (FLOKI) Relative Strength Index (RSI) reached the level it did, the crypto asset saw a 4x price increase. “Last time we reached this RSI level we bottomed and pumped 200% One of my fav charts right now.” Source: Inmortal/X An asset’s…
Crypto asset management firm Grayscale is announcing the launch of a new trust that would give investors access to the popular meme asset Dogecoin (DOGE). In a new press release, the investment giant says it is creating the Grayscale Dogecoin Trust as it believes DOGE has matured from a simple memecoin into a legitimate global financial tool. As stated by Grayscale’s head of products and research, Rayhaneh Sharif-Askary, “Dogecoin has matured into a potentially powerful tool for promoting financial accessibility. We believe, as a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial…
Circle’s dollar-pegged stablecoin USDC has officially gone live on the layer-1 chain Aptos (APT). Aptos’ native token, APT, is up on the news, surging by 5.5% in the past 24 hours. The 38th-ranked crypto asset by market cap is trading at $7.91 at time of writing. Coinbase, the top US crypto exchange, has already added Aptos-native USDC to its listing roadmap. In November, Aptos first announced that it planned to integrate USDC, as well as the fintech giant Stripe’s payment services. Stripe will provide a fiat on-ramp for the Aptos network. The payments firm reemerged in the crypto sector in October…
A widely followed analyst is leaning bullish on a memecoin in the Solana (SOL) ecosystem amid a rout that has seen the crypto asset lose 72% of its value from the all-time high. The analyst pseudonymously known as Bluntz tells his 314,000 followers on the social media platform X that dogwifhat (WIF) might have bottomed out after completing a correction in a three-wave pattern on the weekly time frame. The analyst who regularly applies the Elliott Wave theory in his technical analysis says that while WIF’s bearish trend lasted longer than he had originally anticipated, there are “some nice signs…
A widely followed crypto analyst says that one rival of smart contract platform Solana (SOL) is waiting in the wings before making its next move to the upside while updating his outlook on Bitcoin (BTC). In a new strategy session, crypto trader Rekt Capital tells his 533,400 followers on the social media platform X that layer-1 blockchain Sui Network (SUI) is consolidating below its all-time high as it gains support from prominent crypto wallet Phantom. “SUI. Still consolidating below all-time highs, biding its time before its next move. As for fundamentals, Phantom is live with SUI to over 15 million…
A top crypto strategist says money invested in Bitcoin (BTC) is unlikely to rotate into the altcoin market at levels seen in previous cycles for one key reason. Pseudonymous analyst The Flow Horse tells his 259,500 followers on the social media platform X that many Bitcoin investors who are now contributing to its strong performance are unlikely to move profits into alts. He says Michael Saylor’s MicroStrategy massive purchases of Bitcoin and those investing in Bitcoin spot exchange-traded funds (ETFs) are major bullish catalysts for the flagship crypto this cycle. However, he believes these entities are not going to rotate…
The newly rebranded layer-1 blockchain Sonic (S) is being called the “golden standard” of layer-2s (L2s) by Andre Cronje, the project’s co-founder. Cronje claims on the social media platform X that Sonic, formerly known as Fantom, is the “only actual decentralized stage 3 L2.” “No fee extraction, all submits 100% to ETH, no ‘centralized value extraction’. Decentralized sequencing. Decentralized bridges. While the rest of the L2s continue to fake pretend to ‘decentralize’ (why would they when they get millions of fees per year?), we already did it. Scaled transactions per second to 16,000+ on the L1. Decreased storage by 98%…
A recent on-chain investigation indicates a hacker plundered $29 million worth of the Solana (SOL) rival Sui (SUI) from a single victim last month. The on-chain sleuth ZachXBT uncovered the hack, which he notes occurred on December 12th. “The stolen funds were bridged from Sui to Ethereum via Bridgers and then deposited to Tornado Cash in batches… The victim transferred their .sui domains to a new uncompromised address shortly after the theft. Current limitations with Sui block explorers and Sui analytics tools make the theft difficult to trace.” Tornado Cash is an Ethereum (ETH)-based coin mixing system that helps users…
A widely followed crypto strategist and trader thinks that rallies are in sight for two altcoins amid upcoming catalysts. Pseudonymous trader Pentoshi tells his 847,800 followers on the social media platform X that he thinks the Ethereum (ETH)-based automated staking service Lido DAO (LDO) is gearing up for a steep move up. The analyst believes that traders will enter long positions on LDO amid speculations that US regulators will approve the staking of ETH held in spot Ethereum exchange-traded funds (ETFs). “LDO Probably violent repricing when the filings come in the next couple of weeks… If you believe ETH staking…