Author: Benjamin Lee
The South Korean crypto exchange Upbit has announced a new listing for a wallet-focused altcoin, triggering explosive price action. According to a new announcement, Upbit is supporting Wallet Connect (WCT) for trading over the Optimism (OP) network on its platform starting Wednesday. The project, launched in 2018, is a Web3 communications open-source protocol that aims to connect crypto wallets to decentralized applications (DApps) through encrypted connections using QR code scanning and deep linking. “Traditionally, connecting wallets to apps on the blockchain required complex steps, which often discouraged new users and created a fragmented ecosystem. WalletConnect simplifies this by offering a…
A widely followed crypto analyst says one Solana (SOL) competitor may be gearing up for a breakout. In a new thread, crypto trader Michaël van de Poppe tells his 783,000 followers on the social media platform X that Sei (SEI) may increase more than 100% its current value if it breaks through a key resistance level. “SEI starts to show momentum. The Bitcoin pair has a strong bullish divergence on the higher timeframes and the USD pair faces a crucial resistance. Breaking through $0.20 opens up a continuation towards $0.30-$0.35.” Source: Michaël van de Poppe/X SEI is trading for $0.17…
The former Chair of the U.S. Securities and Exchange Commission (SEC) Gary Gensler is warning that the future of non-Bitcoin (BTC) crypto assets is looking bleak. In a new interview on CNBC’s Squawk Box, Gensler says that most altcoins lack solid economic fundamentals and are almost entirely propped up by sentiment, putting them at high risk of a sudden collapse. “If you were interested in [crypto], think about [how] every financial asset sort of trades on a bit of fundamentals and sentiment, but this field is almost 99% – or maybe one might say 100% – sentiment and very little…
Ethereum (ETH) Layer-2 scaling solution ZKsync (ZK) has suffered a significant exploit, resulting in the loss of $5 million worth of ZK tokens. The breach, which targeted the platform’s smart contract infrastructure, has been acknowledged by the protocol through a post to the social media platform X. “ZKsync security team has identified a compromised admin account that took control of ~$5M worth of ZK tokens – the remaining unclaimed tokens from the ZKsync airdrop. Necessary security measures are being taken. All user funds are safe and have never been at risk. The ZKsync protocol and ZK token contract remained secure,…
A closely followed crypto analyst believes one Solana (SOL)-based meme token is gearing up for further swings to the upside. Pseudonymous trader Altcoin Sherpa tells his 244,000 followers on the social media platform X that artificial intelligence (AI)-based Fartcoin (FARTCOIN) will likely break through the $1 resistance level after putting up massive gains in the past month. However, he says the meme asset may first return to the .382 Fibonacci retracement level at $0.70. Fibonacci retracement levels are used in technical analysis for determining an asset’s support and resistance levels. “Don’t have much of an opinion on Fartcoin at current…
Popular economist Henrik Zeberg believes Bitcoin (BTC) and crypto will witness a huge burst to the upside due to central bank intervention. Zeberg tells his 179,800 followers on the social media platform X that he thinks the global economy is slowing down to the point that it is transitioning from growth to contraction. While the analyst believes that a recession is in sight, he says central banks will likely step in and prop up the economy with money printing to the benefit of Bitcoin and crypto. “We are at an important inflection point in the Business Cycle. From my perspective,…
A closely followed trader believes that the layer-1 protocol Solana (SOL) may have just flashed a strong bullish reversal signal. Pseudonymous trader Inmortal tells his 231,500 followers on the social media platform X that Solana appears to have set a massive bear trap earlier this month when the price of SOL briefly dropped below $100. A bear trap is a false signal that makes it appear that the price of an asset is heading to much lower levels, but instead, the price abruptly reverses and rallies, leaving short-sellers trapped. Says Inmortal, “That weekly candle is maybe the biggest bear trap…
The CEO of a real-world asset (RWA)-focused crypto project is alleging that centralized exchanges may have played a role in the sudden collapse of the project’s native token. The market cap for top RWA project MANTRA (OM) plummeted by $5.431 billion on Sunday – declining from over $6.11 billion to $683.3 million in a matter of hours. Mantra CEO JP Mullin alleges on the social media platform X that the crash was caused by unnamed exchanges seemingly working against the coin by needlessly closing large positions during low-liquidity hours. “We have determined that the OM market movements were triggered by…
President Trump’s official memecoin (TRUMP) is about to go through a massive token unlock worth about $341 million. According to crypto tokenomics data aggregator Tokenomist, 40 million TRUMP tokens will be unlocked on the open market on April 18th. With 199 million TRUMP tokens currently in circulation, the unlock represents about 20% of the memecoin’s circulating supply. TRUMP currently has a market cap of $1.69 billion and a fully diluted valuation (FDV) of $8.48 billion. Token unlocks are often considered bearish for crypto assets, given that new supply will soon be available and sell pressure may be higher. Like most…
A closely followed crypto analyst believes one meme token operating on Solana (SOL) is in the early stages of a market recovery. Pseudonymous analyst Altcoin Sherpa tells his 243,800 followers on the social media platform X that he’s bullish on the memecoin Bonk (BONK). The trader shares a chart suggesting that BONK will face resistance at the $0.000012 level before printing a bullish higher low setup and rallying to his target above $0.0000145. “BONK is looking strong in the short term, and should go higher. Should be a pullback around the 200 EMA (exponential moving average) on the four-hour chart…