John Deaton says XRP Army is the best crypto community.

Deaton claims XRP Army invented “Decentralized Justice.”

Steven Nerayoff marveled at the extraordinary strength of the XRP community.

In a recent tweet, the founder of the Crypto-Law.us, John Deaton, proclaimed that the XRP community is the best crypto community. Deaton believes there is no better crypto community in existence that trumped the XRP Army. 

Moreover, the lawyer further stated that the XRP Army invented what he described as “Decentralized Justice.” 

There is simply no better crypto community in existence today. It’s called Decentralized Justice and the XRP Army invented it.

— John E Deaton (@JohnEDeaton1) September 24, 2023

In response to Deaton’s claim, crypto enthusiasts, particularly the XRP Army, expressed agreement that XRP invented Decentralized Justice. Someone even suggested that Deaton rename his newly launched book Decentralized Justice.

Notably, Deaton expressed the sentiment in response to a comment from Steven Nerayoff, one of the early advisers of Ethereum. Nerayoff had expressed admiration for the XRP community’s unity and unwavering commitment to their cause against the U.S. regulator.

Nerayoff marveled at the extraordinary strength of the XRP community, emphasizing that the term “Army” hardly did justice to their collective dedication. He contrasted this with his extensive experience in various crypto communities, highlighting the rarity of finding one as dedicated and civil as XRP while noting that most others tend to be plagued by toxicity.

It is worth mentioning that Nerayoff is one of the top figures in the crypto community who alleged the U.S. regulator of partiality in their dealings with Ripple and XRP. Central to the allegation is the SEC’s previous interactions with Ethereum, particularly during the initial coin offering (ICO) period.

Nerayoff alluded to possible misconduct within the SEC that cast doubts on the SEC’s reputation and integrity. Reflecting on the challenges faced by the XRP community in recent years, Nerayoff conveyed a determination not to succumb to bitterness or change his core values. 

The post XRP Community Claims Credit for ‘Decentralized Justice’ Invention appeared first on Coin Edition.

Ripple (XRP) attempted to overcome a key resistance level but was rejected by the key price mark.

A breakout pattern had formed on XRP’s 2-hour chart over the past 48 hours.

At press time, XRP was changing hands at $0.5048 following a 0.93% 24-hour loss.

The price of Ripple (XRP) attempted to flip a resistance level over the past 24 hours. However, the altcoin’s price was rejected by the significant price point. Consequently, the remittance token’s price lost the support of a key level throughout the past day of trading – resulting in the formation of a noteworthy pattern on XRP’s daily chart.

2-hour chart for XRP/USDT (Source: TradingView)

XRP’s price had attempted to overcome the $0.5170 resistance level yesterday, but was rejected by the key price point. As a result, the cryptocurrency’s price entered into a bearish move – causing it to breach the $0.5090 support level. At press time, it continued to trade below this mark.

As a result of the recent price movements, a symmetrical triangle pattern had formed on XRP’s 2-hour chart over the past 48 hours. This chart pattern suggested that the remittance token’s price may breakout within the next 24 hours. If this breakout is towards the downside, the altcoin’s price may drop to the immediate support level at $0.4995.

Thereafter, a 2-hour candle close below this significant price mark may lead to XRP dropping to the subsequent level at $0.4915 in the following few hours. However, if XRP is able to close a 2-hour candle above $0.5090, then it may invalidate the bearish thesis. In this scenario, the remittance token’s price may climb to the $0.5170 barrier.

Continued buy pressure may result in XRP flipping this resistance level into support. Subsequently, the altcoin’s price may have a clear path to rise to the next threshold at $0.5255 in the following 24-48 hours.

Meanwhile, CoinMarketCap indicated that XRP’s price had slipped 0.93% over the past 24 hours. Consequently, the altcoin was changing hands at $0.5048 at press time. Despite the negative daily performance, XRP’s price was still up 2.59% over the past 7 days. In addition to dropping over the past day of trading, XRP’s price had also slipped 0.09% during the past hour.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post XRP Could Enter Into a Strong Move as Breakout Pattern Emerges appeared first on Coin Edition.

Crypto Tony shared in an X post that he will be waiting a bit longer before investing in altcoins like RNDR again.

Over the past 24 hours, RNDR’s price slipped by more than 2%, which left it trading at $1.55.

Technical indicators on RNDR’s daily chart suggested that the altcoin’s price may continue to drop in the next 24-48 hours.

Well-known cryptocurrency analyst and trader, Crypto Tony, shared in an X post today that now might not be the best time to “go heavy” into altcoins, specifically Render (RNDR). According to the analyst, he wants to see a “final flush” on RNDR and altcoins before getting deep into them again.

$RNDR / $USD – Update I want to see that final flush on#Altcoinsbefore i start getting deep into them again. For now we are hovering in limbo, which for me is not a sign to go heavy into them pic.twitter.com/E8e8seBeNd

— Crypto Tony (@CryptoTony__) September 24, 2023

Crypto Tony’s hesitancy towards RNDR and other altcoins might be valid as RNDR saw its price dip by more than 2% over the past 24 hours of trading. According to CoinMarketCap, the altcoin was worth $1.55 at press time, which was a new 24 hour low price for the token.

RNDR’s price decrease also caused it to weaken against the cryptocurrency king, Bitcoin (BTC) by about 2.31% throughout the past day. Additionally, RNDR’s 24 hour trading volume stood at around $14,944,176, which marked a 0.68% decrease from the previous day.

The altcoin’s weekly performance also suffered a setback due to its recent decline. Over the course of the past seven days, RNDR’s price experienced a decrease of 2.36%.

CoinMarketCap ranked RNDR as the 59th largest cryptocurrency with its market capitalization of $576,803,482. This placed it on the heels of Injective (INJ) with its market cap of $585,003,473. After reaching its peak price of $8.76 in November of 2021, the value of RNDR has dropped by over 82% to trade at its current level.

RNDR / Tether US 1D (Source: TradingView)

From a technical standpoint, RNDR bounced off of the key resistance level at $1.690 over the past week. Following the rejection from this barrier, the altcoin’s price has been in a negative trend. Consequently, RNDR’s price may drop to retest the immediate support level at $0.1390 in the coming few days.

Thereafter, continued sell pressure could pull the cryptocurrency’s price below this significant benchmark to the next key support at $1.240. Adding credence to this bearish thesis is the fact that the MACD line was attempting to cross below the MACD Signal line at press time.

These 2 technical indicators crossing will trigger a noteworthy bearish technical flag. Furthermore, it will also suggest a continuation of the bearish trend evident on RNDR’s daily chart.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post RNDR’s Price Takes A Hit: Analyst Cautions Altcoin Investors appeared first on Coin Edition.

Michael Saylor believes Bitcoin is the best way to store and protect wealth.

Saylor thinks consumer inflation is the amount of money a person needs to stay poor.

According to Saylor, asset inflation is the rate of creating wealth to stay wealthy.

Michael Saylor, the executive chairman of the board at MicroStrategy, believes Bitcoin is the best way to store wealth and protect it from the dangers of inflation and political risks. Saylor said this during a discussion with Stephen Gardner, a Safe Money Specialist in the United States.

The MicroStrategy Chief began the discussion by explaining the dynamics involved in monetary inflation. Saylor defined inflation as a vector and described consumer inflation as a metric that provides information on the price of products whose qualities are continually deteriorating. 

A comprehensive one-hour overview of what every newcomer needs to know about #Bitcoin. pic.twitter.com/lOTkhJQrZI

— Michael Saylor⚡️ (@saylor) September 23, 2023

According to Saylor, consumer inflation is the amount of money a person needs to stay poor and live a lower middle-class lifestyle, while asset inflation is the rate of creating wealth to stay wealthy or beat if you want to become wealthy.

The MicroStrategy executive noted that asset inflation in the US has been around 7-8% for about 100 years, while consumer inflation remained around 2% during the same period. Saylor noted that asset inflation has exploded recently, creating what he described as an interesting scenario. 

Saylor observed that the asset inflation rates outside the US, especially in weaker countries, are often double and in the region of 14% a year. He noted that those figures skyrocketed since the COVID-19 pandemic because those countries run large deficits and often print money they can’t pay back. As a result, the prices of many scarce and resellable assets increased faster than 2%, and the money supply expanded by 40% or more over a couple of years.

The MicroStrategy founder compared the rate at which fiat currencies lose value using the inflation dynamics. He revealed how individuals could lose their wealth if stored in traditional currencies. Using a typical example, Saylor showed that wealth stored in the US dollar over the last 100 years would have lost about 99% of its value. Others could lose them within the economies of unstable governments, where they could become victims of policy somersaults.

Saylor believes Bitcoin is designed to check these risks, following its inbuilt attributes. According to him, Bitcoin represents a breakthrough technology with numerous benefits, including a 21 million coin cap. Hence, it is a conservative monetary network without leakages, or inflation. He noted that Bitcoin is a way to freeze your economic energy so it does not dissipate.

The post Bitcoin Protects Wealth From Inflation and Governments: Saylor appeared first on Coin Edition.

The price of Terra Classic (LUNC) surged over the past 24 hours while most of the market recorded a loss.

LUNC rebounded from the $0.00005840 support to print a higher low – resulting in the formation of a positive trend line.

At press time, LUNC was trading above the key $0.00006110 resistance level.

While the rest of the cryptocurrency market attempted to find its bearings throughout the past trading session, Terra Classic (LUNC) was able to achieve a 3+% gain. This standout performance enabled the altcoin to overcome a key resistance level over the past 24 hours.

4-hour chart for LUNC/USDT (Source: TradingView)

Over the past 24 hours, LUNC’s price rebounded off of the support level at $0.00005840 to print a higher low. Subsequently, a positive trend line had formed on the altcoin’s charts. Furthermore, following the bounce off of this key price point, LUNC’s price entered into a bullish move to break above $0.00006110 and continued to trade above this resistance at press time.

If this bullish momentum continues, then LUNC could also overcome the subsequent resistance level at $0.00006420 as well. In an extreme bullish scenario, the altcoin may flip this level into support and continue to climb to as high as $0.00006870 within the following 2 weeks.

On the other hand, if traders begin taking profit from their LUNC positions, then the cryptocurrency’s price may drop back below the aforementioned $0.00006110 mark. This will then open up the risk of the altcoin’s value potentially dropping to the next benchmark at $0.00005840 in the following 48-72 hours.

If LUNC’s price breaks below $0.00005840, then it will also fall below the positive trend line that had formed on its chart. Consequently, traders may identify this occurrence as a sell opportunity – possibly forcing LUNC’s price down to $0.00005550 as a result.

Meanwhile, at press time, CoinMarketCap indicated that LUNC’s price had risen more than 3.5% throughout the past 24 hours. As a result, the cryptocurrency was valued at $0.00006159 at press time. This positive daily performance had also added to LUNC’s positive weekly streak – elevating LUNC’s gain over the past 7 days to +6.51%.

Despite the substantial rise in LUNC’s price, CoinMarketCap data showed that the cryptocurrency’s amount of trading volume over the past 24 hours had fallen 21.51%. This brought the total down to $19,126,021 at press time.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post LUNC Delivers Stellar Performance and Gains 3+% Over the Past 24H appeared first on Coin Edition.

CREAM token price surged 82% in the last 24 hours. 

Cream Finance unlocked $4.27M CREAM tokens to 19 addresses in response.

Machi Big Brother stakes back $3.8M CREAM upon receiving them.

In a recent tweet shared by on-chain resource Spot On Chain, it was reported that the CREAM token experienced a remarkable surge in price, skyrocketing by an impressive 82% within a single day.

In response to this significant price surge, Cream Finance executed a noteworthy transaction by unstaking a substantial amount of 241,415 CREAM tokens, which equates to a staggering $4.27 million. These tokens were distributed across 19 different wallet addresses.

🚨 $CREAM price surged sharply up to 82% today!@CreamdotFinance unstaked 241,415 $CREAM ($4.27M) to 19 addresses over the past 10 hours, right after the price surge, of which:– @machibigbrother received the most at 215,236 $CREAM ($3.8M) via 2 addresses and then staked all… pic.twitter.com/xjYcKuN10T

— Spot On Chain (@spotonchain) September 24, 2023

Spot On Chain highlighted that the Taiwanese celebrity Jeffrey Huang, otherwise called “Machi Big Brother” in the crypto ecosystem, was among the recipients. Specifically, it mentioned Machi Big Brother emerged as the largest beneficiary, receiving 215,236 CREAM tokens valued at $3.8 million.

What makes this transaction even more intriguing is that Machi Big Brother subsequently staked all received tokens, showcasing a strong vote of confidence in the project. The report indicated that Machi Big Brother is staking back the coins for four years.

Meanwhile, the tweet also highlighted the activities of 13 other wallet addresses. Per the update, the wallets purportedly sold 5,409 CREAM tokens, amounting to approximately $99.2K in value. 

These sales were conducted through various crypto trading platforms. The mentioned platforms include the largest crypto exchange, Binance, and Gate.io. It also indicated that some of the sales took place on unnamed decentralized exchanges (DEXs).

This surge in CREAM token prices, coupled with the substantial movements of tokens within the Cream Finance ecosystem, has piqued the interest of crypto enthusiasts and investors, who closely monitor these developments for potential market impacts and further price fluctuations.

The post Machi Big Brother Stakes Back $3.8M CREAM Upon Receipt Amid 82% Surge appeared first on Coin Edition.

Glassnode Alerts shared in an X post earlier today that there has been a noticeable drop in the USDT’s exchange inflow.

According to the post, the USDT Exchange Inflow Volume (7d MA) dropped to 18,420,750.594 USDT.

At press time, USDT’s daily trading volume was down 30.81% and stood at just over $11 billion.

The on-chain tracking platform Glassnode Alerts revealed in an X post earlier today that there has been a drop in the amount of Tether (USDT) that has flowed onto exchanges. According to the post, the USDT Exchange Inflow Volume (7d MA) has reached a 1-month low of 18,420,750.594.

📉 $USDT Exchange Inflow Volume (7d MA) just reached a 1-month low of 18,420,750.594 USDTPrevious 1-month low of 18,421,739.041 USDT was observed on 22 September 2023View metric:https://t.co/iqIWsjblZd pic.twitter.com/qQ2fdYkCri

— glassnode alerts (@glassnodealerts) September 24, 2023

The post also noted that the previous 1-month low was observed on 22 September 2023. This was after the USDT Exchange Inflow Volume (7d MA) dropped to 18,421,739.041 USDT.

At press time, CoinMarketCap indicated that the leading stablecoin in terms of market cap maintained its peg with the U.S. Dollar. Meanwhile, USDT’s collective market capitalization stood at $83.209,171,349 – ranking it third on CoinMarketCap’s list of the biggest cryptocurrencies.

The 24-hour trading volume for USDT experienced a 30.81% drop during the past day of trading. Subsequently, the stablecoin’s total trading volume was estimated to be just over $11 billion at press time. This drop in USDT’s trading volume took place during a period which saw the overall trading volume in the cryptocurrency market decline 31.28%.

As a result, the market recorded $14.9 billion worth of trading volume. Notably, 90.29% of this volume was linked to stablecoins.

Tether still had a comfortable lead over its competitors USDC Coin (USDC) and TrueUSD (TUSD) at press time. CoinMarketCap data indicated that USDC was ranked as the sixth biggest cryptocurrency given its market cap of around $25.772 billion. Similar to USDT, USDC was also able to maintain its peg to the Dollar.

Meanwhile, TUSD occupied position number 21 with its market cap of $3,508,272,488. Unlike USDC and USDT, TUSD was trading below the $1 mark at $0.9993 at press time.

Expectedly, USDT accounted for the majority of the trading volume in the stablecoin market. USDC and TUSD only made up $1.5 billion and $80 million respectively of the combined $13.34 billion stablecoin trading volume.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post USDT Exchange Inflow Volume (7D MA) Drops to 1-Month Low appeared first on Coin Edition.

An XRP supporter claims it is the only digital asset in the US with legal clarity.

The supporter to Ryan Rugg that Citibank would ditch Ethereum for XRP.

According to Joseph Grundfest, only the Federal Courts can provide clarification on digital assets clarification.

A renowned digital asset investor and XRP supporter identified as Digital Asset Investor. XRP has said that XRP is the only digital asset in the United States with legal clarity. According to the investor, he told Ryan Rugg, head of digital assets for Citibank’s TTS business, that her organization would ditch Ethereum for XRP.

1000% XRP is the ONLY Digital Asset In the United States with LEGAL clarity. @RyanRRugg this is why I was telling you that you're going to need to ditch Ethereum over at Citi and give @bgarlinghouse @ripple a call. Or to quote Vanilla Ice Drop that zero and get with the hero. https://t.co/rQA7xUl7j5

— Digital Asset Investor.XRP (@digitalassetbuy) September 23, 2023

The digital assets investor referenced a speech by Joseph Grundfest, a nationally prominent expert on capital markets, corporate governance, and securities litigation. Grundfest stated that the clarification of crypto assets like Bitcoin and Ether can only be decided by the Federal Courts if and when the appropriate litigation arises, and not by speeches. 

In his remarks, Grundfest noted that the logic in the speech may be persuasive to the court or not. No matter how that pans out, the capital market expert emphasized that it remains a speech and not a legal decision. 

According to Grundfest, they could articulate the logic in a brief filed with the court but would have no precedential effect. He added that unless the Securities and Exchange Commission (SEC) takes formal rule-making action, speeches and other pronouncements by the SEC do not have the force of law.

Grundfest focused on the analysis by the renowned former Director at SEC, William Hinman, noting that it depends upon Hinman’s understanding of facts regarding Bitcoin and Ether as of June 2018. Grundfest noted that Hinman did not explain why he concluded that Bitcoin and Ether are sufficiently decentralized.

The capital markets expert further explained that there is a need to state the reason for reaching such a conclusion. According to him, that is the basis for attributing any legal qualification to the entities in question. He noted that not laying down the facts could lead others to embark on creating crypto products without providing the facts of their decentralization.

The post XRP is the Only Crypto in the US With Legal Clarity: Opinion appeared first on Coin Edition.

Glassnode Alerts revealed in an X post today that the number of addresses holding 1+ ETH has dropped to a 3-month low.

The previous 3-month low of 1,743,795 addresses was recorded on 23 September 2023.

Technical indicators on ETH’s daily chart suggested that the altcoin’s price may drop in the coming few days.

The number of investors holding 1+ Ethereum (ETH) has dropped to a 3-month low. According to an X post shared by the on-chain analytics platform, Glassnode Alerts, the number of addresses holding 1+ ETH has dropped to 1,743,744. The X post also shared that the previous 3-month low was reached on 23 September 2023, and stood at 1,743,795 addresses.

📉#Ethereum$ETH Number of Addresses Holding 1+ Coins just reached a 3-month low of 1,743,744Previous 3-month low of 1,743,795 was observed on 23 September 2023View metric:https://t.co/IuKpD48IXd pic.twitter.com/JjYRNd80nd

— glassnode alerts (@glassnodealerts) September 24, 2023

Despite this drop in the number of ETH addresses holding 1+ coins, the altcoin leader continued to trade in a positive trend. However, a significant bearish technical flag may be triggered in the coming 48 hours which could lead to ETH entering into a bearish trend reversal.

Daily chart for ETH/USDT (Source: TradingView)

At press time, ETH’s price was hovering above the key support level at $1,580. Furthermore, it continued to trade below the 9-day and 20-day EMA lines after it had fallen below the 2 technical indicators on 20 September 2023.

If ETH breaks below the $1,580 support level in the upcoming few days, then the cryptocurrency may be at risk of falling to the next crucial support level at $1,480. This will also result in ETH’s price breaking below a positive trend line that had formed on its daily chart after it recorded 2 higher lows.

On the other hand, if the $1,580 support level is able to hold for the next 72 hours, then ETH’s price may attempt to reclaim a position above the 9-day and 20-day EMA lines. Should the cryptocurrency succeed in breaking above these 2 technical indicators, then it may have the foundation needed to overcome the next resistance level at $1,690 as well.

Continued buy pressure could result in ETH flipping the $1,690 resistance level into support. Subsequently, the altcoin’s price may continue to rise to $1,775 throughout the course of the following week.

Technical indicators suggested that a bearish scenario was more likely to play out in the coming week. Firstly, the 9-day EMA line was positioned below the 20-day EMA line, which indicated that momentum over the past 9 days was more bearish than the momentum during the past 20 days.

Secondly, a noteworthy bearish technical flag was on the verge of being triggered on ETH’s daily chart. At press time, the daily MACD line was looking to cross below the daily MACD Signal line. If these 2 lines cross, it will suggest a continuation in ETH’s bearish short-term momentum.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post ETH Wallets Holding 1+ Coins Has Dropped to a 3-Month Low appeared first on Coin Edition.

DWF Labs’ Andrei Grachev and GSR’s Cristian Gill have been embroiled in a controversial brawl.

Andrei Granchev has shared the stage with market-making giants GSR and Wintermute on a discussion panel.

Gill commented that Grachev’s presence has been an insult to the industry giants.

According to recent reports, the web3 investment firm DWF Labs and the market-making giants GSR and Wintermute have been embroiled in a controversial brawl, following a panel discussion at Web3 Connect: Journey through Digital Trade Horizons. The verbal fight on X (formerly Twitter) demonstrated the fuelling competition in the web3 space where platforms contest for recognition.

The dispute began with a post shared by Andrei Grachev, the founder of DWF Labs, in which he conveyed gratitude to Ciara Sun, who invited him to occupy a distinct space in the panel discussion. However, the tweet received stark reproval from critics including Cristian Gill, the co-founder of GSR, who questioned the appropriacy of DWF and Grachev to be on the panel. Gill asserted that Grachev had “absolutely no business to be on that panel”.

@ag_dwf had absolutely no business to be on that panel.It's insulting to @GSR_io , @okx and @wintermute_t to be in the same room as @DWFLabs . It's very sad that in late 2023 bad actors like @DWFLabs can still get so much airtime.

— Cristian Gil (@CristiangilGSR) September 20, 2023

The GSR co-founder added that the presence of Grachev in the same panel had been an insult to established market makers like GSR, Wintermute, and OKX. Web3 experts like Chief Golem sided with Gill, criticizing DWF Labs and Alameda Research for claiming themselves as market makers.

However, Grachev’s response to Gill ignited the skirmish, as he boasted of his company’s position over GSR in the industry, in terms of technology, trading, and business development. He cited,

I never thought that you could be THAT scared of us. Yeah, we are stronger than you in terms of tech, trading, BD and everything. Just try to compete fairly – and you’d gone. Yeah, if I were you – I would be also crying all the time. Cheers.

Meanwhile, Chinese crypto reporter Colin Wu, on his official page Wu Blockchain, has been providing updates on the scuffle between Grachev and Gill. The reporter’s timely reports on the comments of both Grachev and Gill have shared insights on the intensifying fury as well as the wider rivalries in the crypto industry.

The post DWF Labs and GSR in a Brawl: An Episode of Fuelling Competition appeared first on Coin Edition.

Glassnode Alerts revealed in an X post today that the number of addresses holding 1+ BTC has reached an all-time high.

According to the post, 1,022,655 addresses hold 1+ BTC coins.

Meanwhile, a noteworthy bearish technical flag was on the verge of being triggered on BTC’s daily chart.

In an X post published earlier today, the on-chain tracking platform Glassnode Alerts revealed that the number of addresses holding 1+ Bitcoin (BTC) has reached an all-time high (ATH). According to the post, 1,022,655 addresses currently hold 1+ BTC. This was after the previous ATH of 1,022,629 was recorded on 22 September 2023.

📈#Bitcoin$BTC Number of Addresses Holding 1+ Coins just reached an ATH of 1,022,655Previous ATH of 1,022,629 was observed on 22 September 2023View metric:https://t.co/s7tx1xxyz3 pic.twitter.com/aFZOieYQnt

— glassnode alerts (@glassnodealerts) September 24, 2023

Meanwhile, the leading cryptocurrency achieved a slight 0.06% gain over the past 24 hours. Subsequently, CoinMarketCap indicated that BTC was trading hands at $26,569.14 at press time. This positive daily performance was also enough to flip the cryptocurrency’s weekly performance back into the green, taking it to +0.02% as a result.

Daily chart for BTC/USDT (Source: TradingView)

From a technical perspective, BTC was trading between the 9-day and 20-day EMA lines at press time. If it is able to break above the 9 EMA line at around $26,609.23 within the coming 48 hours, then it may attempt to flip the $26,915 resistance level into support. Thereafter, continued buy pressure may lead to the leading cryptocurrency’s price rising to $27,915 as well.

Conversely, a break below the 20-day EMA line, which was situated at $26,522.35, could lead to BTC retracing to the immediate support level at $26K. If this level fails to hold, then BTC’s price may continue to drop to $25,110 in the following couple of days.

Investors and traders will want to take note that a significant bearish technical flag was on the verge of being triggered on BTC’s daily chart. At press time, the daily RSI line was attempting to cross below the daily RSI SMA line. These 2 technical indicators crossing could suggest that sellers are gaining the upper hand against bulls. This may then lead to BTC’s price dropping.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post BTC Addresses With 1+ Coins Has Reached an ATH: On-Chain Data appeared first on Coin Edition.

The crypto community awaits SEC approval of Bitcoin spot ETF in the coming weeks.

Influential figures have argued for the SEC’s eventual approval.

Prominent institutional plan to fight fiercely for market share upon greenlight.

The crypto community is speculating that the Securities and Exchange Commission (SEC) of the United States will approve the first spot Bitcoin exchange-traded fund (ETF) within the coming weeks.

In a recent tweet, prominent crypto influencer Crypto Rover argued that the SEC chairman Gary Gensler has no option but to approve more than one of the Bitcoin spot ETFs that have been filed. In his words, “Gary Gensler will eventually have to approve Spot Bitcoin ETFs.”

Gary Gensler will eventually have to approve Spot Bitcoin ETFs.In 23 days the SEC needs to review the next round of#BitcoinETFs. pic.twitter.com/0jS3fR3ApC

— Crypto Rover (@rovercrc) September 23, 2023

Notably, Rover reached this conclusion based on the timelines available for the ETF application approval or disapproval. He highlighted that it is just 23 days from the second deadline for comments on multiple pending Bitcoin ETF applications. 

According to the image accompanying the tweet, the approaching deadline is for BlackRock, Bitwise, Wisdom Tree, Invesco Galaxy, Fidelity, Hashdex, VanEck, and Valkyrie applications. Specifically, the second deadline for the highlighted firms is between October 7 and October 19, 2023.

Meanwhile, the U.S. regulator has already delayed these pending Bitcoin ETF applications. In particular, the first deadlines for September have all elapsed without the SEC giving a green light or disapproval. 

Nonetheless, prominent figures in the financial industries have argued that the approval of a spot Bitcoin ETF is not a matter of if but a matter of when. Recently, Mike Novogratz, the CEO of Galaxy, argued during a conference call that the first Bitcoin ETF will surface within the next four to six months. 

He made the statement early last month. Novogratz added that upon the eventual approval, BlackRock and Invesco, alongside Galaxy, will compete fiercely to capture market share.

The post Second Deadlines for Spot Bitcoin ETF in 23 Days, Will SEC Approve? appeared first on Coin Edition.

Santiment revealed in an X post earlier today that network fees for Ethereum have dropped to its lowest point in 2023.

According to the post, historical drops in Ethereum’s fees have led to increased utility and market cap for ETH.

From a technical perspective, a positive trend line had formed on ETH’s daily chart.

According to the blockchain intelligence platform Santiment, network fees for Ethereum (ETH) have dropped to their lowest levels for 2023, falling to just $1.15 per transaction. In the post, Santiment shared that historical drops in Ethereum’s network fees have led to increased utility, which subsequently resulted in the leading altcoin’s market cap rising.

🤑#Ethereumnetwork fees have dropped down to its lowest level of 2023, at just $1.15 per transaction. Historically, we see utility begin rising as $ETH becomes more affordable to circulate. Increased utility can then lead to recovering market cap levels. https://t.co/MpOLfMYKUp pic.twitter.com/JI8ZLhmb4p

— Santiment (@santimentfeed) September 23, 2023

Meanwhile, CoinMarketCap indicated that ETH recorded a 24-hour gain of 0.20%. As a result of the latest increase, the altcoin was changing hands at $1,594.40 at press time. The positive daily performance was, however, not enough to overcome ETH’s decline over the past 7 days. Consequently, ETH was still down 2.58% on the weekly timeframe.

Daily chart for ETH/USDT (Source: TradingView)

From a technical standpoint, ETH’s price dropped below the $1,580 support level during the past 72 hours. Bulls had identified the drop below this level as a buy opportunity, causing the cryptocurrency’s price to reclaim a position above the significant price point. This also led to ETH printing a second higher low and the formation of a positive trend line.

If this positive trend continues, then ETH’s price may attempt a challenge at the $1,690 barrier in the upcoming week. A daily candle close above this mark may then establish the foundation needed for the altcoin’s price to climb to $1,775 if buyers continue to provide support to the cryptocurrency.

On the other hand, if ETH’s price closes a daily candle below $1,580, it may be at risk of falling to the immediate support level at $1,480 in the following few days. Investors and traders will want to note that technical indicators on ETH’s daily chart suggested that a bearish outlook was more favorable.

Firstly, the 9-day EMA line was positioned below the 20-day EMA line. This indicated that ETH was in a medium-term trend. In addition to this, the daily MACD line was closing in on the daily MACD Signal line. If these two technical indicators cross, it will suggest a continuation of ETH’s bearish trend.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Ethereum’s Network Fees Drop to 2023 Low: Intelligence Firm appeared first on Coin Edition.

PEPE, the frog-themed meme coin launched in May 2023, rallied significantly yesterday.

The meme coin gained 20% on Friday, September 22, 2023, due to unknown reasons.

Users think the price pump was artificial and not backed by any fundamental factor.

PEPE, the frog-themed meme coin launched in May 2023, rallied significantly yesterday. Data from Tradingview showed that PEPE gained 20% on Friday, September 22, 2023, leaving crypto users speculating over the reason behind the move.

The price surge caught the attention of the renowned crypto trader identified as Crypto Tony on X (formerly Twitter), who posted about it and shared a screenshot of the PEPE/USD daily chart to drive his point. Tony posted that PEPE gained 20% and asked what could be the reason behind the move.

PEPE NOW UP 20% TODAY .. WHAT HAPPENED 👊 pic.twitter.com/LC7x79PIFk

— Crypto Tony (@CryptoTony__) September 22, 2023

Crypto users responding to Tony’s post did not have definite answers to his question. Many respondents speculated that the price pump was artificial and not backed by any fundamental factor. However, Max Gainz, a respondent who didn’t focus on the cause of the price increase, decried missing the opportunity to take advantage of the rally.

Gainz said he noticed people talking about PEPE’s death two days ago on the X app. According to him, he should have interpreted that sentiment as a buy signal. 

Yesterday’s rally lifted PEPE out of the lowest point it reached since retracing from its initial rally in May. The price surged from $0.0000006045 to $0.0000007330 before closing at $0.0000007144, according to data from TradingView.

With the surge, PEPE price climbed above some of the resistance levels established in September. However, the move stopped when the price approached the base of the August 25 daily candle, which formed a reference point for the meme coin for as long as two weeks.

PEPE traded for $0.0000006963 at the time of writing as the price attempts to regain yesterday’s momentum. The sustainability of the price rally could depend on users discovering the reason behind the move. That is a question that remained unanswered at the time of this post.

Disclaimer:The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post PEPE Gained 20% in One Day, What Could Be Behind the Rally? appeared first on Coin Edition.

CryptoGeek shared on X that there are talks of XRP being integrated into a digital U.S. FED coin.

Most people believe this is fake news, and XRP’s price performance reflected the same.

Technicals suggest XRP could flip the resistance level at $0.5515 into support.

Ripple (XRP) enthusiast, CryptoGeek, shared on X yesterday that there are talks by Fox News relating to XRP being integrated into a digital U.S. FED coin. Although many believe this to be an extremely bullish sign, most commenters on the post disregarded an XRP FED coin as only a rumour or even fake news

🚨BREAKING: RUMORS OF $XRP TO BE INTEGRATED INTO DIGITAL U.S FED COIN FOLLOWING REPORT BY FOX NEWS. pic.twitter.com/IE6tAoroPK

— CryptoGeek (@CryptoGeekNews) September 22, 2023

It seems like those who believe CryptoGeek’s announcement on X was fake news might be right as the price of XRP has not shown any reaction to the news. According to CoinMarketCap, XRP’s price only climbed by 0.73% over the past day of trading.

This meant that XRP was trading at $0.5128, which was between its 24 hour peak of $0.5162 and its daily low price of $0.5082. Despite its slight price rise, XRP did end up weakening against the market leader, Bitcoin (BTC), by 0.77% throughout the past day.

The rise in the price of the remittance token was able to boost its weekly performance to a gain of 2.67%. With a market capitalization of $27,295,394,298, XRP secured its position as the 5tgh largest cryptocurrency by market cap.

Daily chart for XRP/USDT (Source: TradingView)

A symmetrical triangle had formed on XRP’s daily chart. This suggested that the remittance token’s price may breakout soon. In the event of a positive breakout, XRP’s price could flip the resistance level at $0.5515 into support. Thereafter, continued buy pressure could propel the altcoin’s price to as high as the next barrier at $0.6683 within the following 2 weeks.

Conversely, a negative breakout may result in XRP’s price losing the support of the $0.4783 mark. If sellers persist, the cryptocurrency’s price may drop to the crucial price point at $0.4120 in the following few days.

Investors and traders will want to take note of the fact that technical indicators on XRP’s daily chart suggested that a bullish scenario may be more likely to play out. Firstly, the daily MACD line was positioned above the MACD Signal line at press time, hinting at the possibility of XRP’s bullish trend over the past week continuing in the coming 24-48 hours.

In addition to this, a significant bullish technical flag was on the verge of triggering as well. At press time, the 9-day EMA line was attempting to cross above the 20-day EMA line. Should these 2 technical indicators cross in the next 2 days, it will suggest that short-term momentum has shifted in favor of bulls.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post XRP Traders Remain Cautious Following FED Coin Speculation appeared first on Coin Edition.

Shiba Inu’s burn rate surged in the last 24 hours and the past week.

Specifically, it saw a remarkable 49.42% surge in burn rate over the past week.

Shibarium has amassed just $0.40 gas tokens in five weeks but needs 5.3 quadrillion transactions to teach $25k.

In a recent tweet, Shibburn, a prominent Shiba Inu burn tracker, provided the latest updates on the Shiba Inu cryptocurrency. According to their tweet, the hourly Shiba Inu price has seen a 0.57% increase, bringing its value to $0.00000739. 

Over the past 24 hours, Shiba Inu has also experienced a 1.26% increase in its value, with the market cap now standing at $4,345,909,911, showing a 1.06% increase.

Meanwhile, one of the most significant highlights from the tweet is the token burn data, which indicates a substantial increase in tokens burnt. In the past 24 hours alone, a staggering 247,744,292 SHIB tokens have been burnt, reflecting a remarkable 35.87% increase compared to the previous day. 

Over the past seven days, Shiba Inu’s token burn rate has surged even further, with 789,178,355 SHIB burnt, marking a remarkable 49.42% increase.

HOURLY SHIB UPDATE$SHIB Price: $0.00000739 (1hr 0.57% ▲ | 24hr 1.26% ▲ )Market Cap: $4,345,909,911 (1.06% ▲)Total Supply: 589,340,122,706,381TOKENS BURNTPast 24Hrs: 247,744,292 (35.87% ▲)Past 7 Days: 789,178,355 (49.42% ▲)

— Shibburn (@shibburn) September 23, 2023

It is worth mentioning that the collaborative efforts within the Shiba Inu community aimed at reducing SHIB’s circulating supply have shown promising outcomes. A substantial 410,659,447,212,709 (410.65 trillion) SHIB tokens have been successfully burned over the past three years.

Despite this considerable burn, SHIB maintains a substantial circulation of 579,624,553,910,004 (579.62 trillion) tokens. It has become evident that the Shiba Inu community needs additional measures beyond regular burns to significantly reduce the cryptocurrency’s circulating supply. 

To this, the Shiba Inu development team has designed the recently launched layer-two scaling solution, Shibarium, to burn SHIB tokens per transaction. Within the last five weeks of launch, Shibarium has accumulated just 0.512013000539 gas tokens worth $0.406398542879.

Shibburn has estimated that Shibarium needs 5,338,220,759,085,494 (over 5.3 quadrillion) transactions to reach $25k before burning Shiba Inu.

The post Shiba Inu Burn Rate Soars 35.87% in 24hrs, Community Efforts Pay Off appeared first on Coin Edition.

Glassnode Alerts revealed that the Mean Liquidated Volume for Long Positions in BTC Futures Contracts on Okex has surged.

Meanwhile, the on-chain analytics platform also shared that the number of addresses holding 100+ BTC has dropped.

BTC’s price was trading between the 9-day and 20-day EMA lines at press time.

The Mean Liquidated Volume for Long Positions in Bitcoin (BTC) Futures Contracts on Okex has surged to a 19-month peak of $730,576.07, according to an X post shared by the on-chain analytics platform Glassnode Alerts. This surpasses the previous 19-month high of $607,216.06 which was recorded on 8 September 2022.

📈#Bitcoin$BTC Mean Liquidated Volume in Futures Contracts Long Positions just reached a 19-month high of $730,576.07 on#OkexPrevious19-month high of $607,216.06 was observed on 08 September 2022View metric:https://t.co/tj77GIdcs8 pic.twitter.com/grYR4JKKxq

— glassnode alerts (@glassnodealerts) September 10, 2023

Glassnode Alerts also shared earlier today that the number of addresses holding 100+ BTC coins has reached a new 4-month low of 15,955. This decrease of addresses with 100+ coins may indicate a reluctance or reduced interest among large investors to accumulate more BTC at its current price.

📉#Bitcoin$BTC Number of Addresses Holding 100+ Coins just reached a 4-month low of 15,955View metric:https://t.co/ceqO9LHIvs pic.twitter.com/lkwH6bYvQY

— glassnode alerts (@glassnodealerts) September 23, 2023

At press time, BTC was worth about $26,550.11 after its price dropped by 0.41%, according to data from CoinMarketCap. Along with its price drop, the market leader’s intraday trading volume fell by more than 27% throughout the past day. This left it standing at around $10 billion.

Daily chart for BTC/USDT (Source: TradingView)

From a technical perspective, BTC’s price was trading between the 9-day EMA and 20-day EMA lines at press time. This was after it lost the support of the shorter EMA line over the past 72 hours.

Investors and traders will want to keep an eye on these 2 technical indicators through the course of the next 24-48 hours. Should BTC’s price break below the 20-day EMA line, it may pullback and seek support from the $26K mark. Thereafter, the leading cryptocurrency’s price could break below this level to as low as $25K if the sell volume persists.

On the other hand, a break above the 9-day EMA line, which was situated at $26,619.82 at press, may be followed by BTC flipping the $26,915 resistance level into support. Continued buy support may elevate the cryptocurrency’s price to $27,915 in the following couple of days.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post BTC Loses the Interest of Holders as Liquidations Spike appeared first on Coin Edition.

The price of Chainlink (LINK) surged more than 4% over the past 24 hours.

Throughout the last day of trading, LINK’s price printed a second higher low.

Meanwhile, a significant medium-term bullish flag was on the verge of being triggered on LINK’s daily chart.

The price of Chainlink (LINK) surged more than 4% over the past 24 hours, according to CoinMarketCap. As a result, the cryptocurrency was changing hands at $6.98. Notably, the altcoin’s weekly performance also stood at more than +10%. At press time, technical indicators on LINK’s chart suggested that this positive momentum may continue in the coming days.

4-hour chart for LINK/USDT (Source: TradingView).

Over the past 24 hours, LINK’s price rebounded off of the key support level at $6.680. This resulted in the altcoin’s price printing a second higher low for the week – leading to the formation of a positive trend line. During this same period, LINK also printed numerous higher highs. Subsequently, a positive price channel formed on LINK’s 4-hour chart as well.

After rebounding from the $6.680 mark, LINK’s price entered into a positive move and was able to break above the next resistance level at $7.040 to reach a high of $7.195 earlier today. Since then, the cryptocurrency’s price has pulled back to trade back below this threshold at press time.

Nevertheless, the bullish trend continuing in the next 24-48 hours may lead to LINK flipping the resistance level into support. Thereafter, the cryptocurrency’s price could have the foundation needed to rise to $7.365 as well.

On the other hand, LINK’s price breaking below the positive trend line that had formed on its chart may put it at risk of retesting the aforementioned support level at $6.680. If this support fails to hold, then sellers will have little in the way stopping them from dragging LINK’s price down to $6.405.

Daily chart for LINK/USDT (Source: TradingView).

Looking at the daily chart for LINK/USDT, a noteworthy bullish technical flag was on the verge of being triggered. At press time, the 20-day EMA line was attempting to cross above the 50-day EMA line. Should these 2 technical indicators cross, it will suggest that medium-term momentum has shifted in favor of buyers, which may lead to LINK’s price rising.

Notably, short-term momentum for LINK was positive, as the 9-day EMA line was positioned above the 20-day EMA line at press time. This indicated that LINK’s momentum had been more bullish throughout the past 9 days than its momentum over the past 20 days. 

Furthermore, the shorter EMA line breaking away from the 20-day EMA line suggested that this bullishness was growing stronger. Subsequently, LINK may close today’s daily candle above $7.040.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post LINK Stands Out and May Continue to Rise in the Next 24-48 Hours appeared first on Coin Edition.

Bob Injective shares insights on the current performance of the Injective Token, following the inEVM launch.

The launch had little impact on investor sentiment but triggered a momentary hike in the social dominance metric.

The current price of INJ represents a 500% premium from its lowest price in 2023.

The Injective blockchain’s INJ token has been capturing broader recognition, as the platform continues to create waves in the crypto space with its development activities. The latest of the series of events is the launch of inEVM, the first-ever Ethereum Virtual Machine facilitating interoperability with Cosmos and Solana.

Bob Injective, a popular figure in the Injective ecosystem recently took to X (formerly Twitter) to share insights on the current state of the INJ token amidst the development activities. As per their analysis, Injective has emerged as “one of the best gainers within the last two weeks”, in light of the substantial spike in the token’s price. INJ currently stands at a value of $7.18, with a slight 0.66% increase in one day. Nonetheless, it is noteworthy that the token is currently residing at a price representing a 16% premium from its lowest price in one month and a 500% premium from its lowest price in 2023.

This makes it one of the best gainers within the last two weeks. In fact, it is one of the best performers in 2023 so far considering that its press time price represented a 500% premium from its lowest price this year.

— Bob Injective 🇩🇰🥷 (@multibaks) September 22, 2023

On September 19, Injective announced the launch of inEVM, in collaboration with the layer 2 rollup infrastructure platform, Caldera. The development intends to expand Injective’s dApps composibility on Cosmos and Solana, unlocking a new level of interoperability for Ethereum developers.

The Injective enthusiast commented on inEVM’s little influence on investor sentiment, despite the common belief that “healthy development activity often attracts more confidence among investors”. Adding to the point, Bob Injective stated that the weighted sentiment metric was resting at its lowest level over the past four weeks.

However, following the announcement of the inEVM launch, the platform’s social dominance metric exhibited an appreciable surge. Though the uptick was momentary, it could be counted against the unmoved lower levels of investor sentiment. Another major metric to consider is the Money Flow Index which suggests Injective’s demand slowdown, pointing out the possibility of limiting the current bullish track.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Will INJ’s Bullish Action Continue Amidst Development Activity? appeared first on Coin Edition.

Bitcoin’s non-whale wallets, users with less than 100 BTC, have climbed to a new All-Time High.

The number of traders showing interest in the leader of cryptocurrencies could drive the price of BTC upwards.

However, one crypto analyst under the pseudonym of Rekt Capital recently tweeted that BTC may fall below $26K.

Santiment, an on-chain market intelligence platform, recently took to Twitter to notify the community that Bitcoin’s non-whale wallets, users with less than 100 BTC, have climbed to a new All-Time High. The market intelligence platform also points out that the non-whale wallets now own 41.1% of the available supply; meanwhile, BTC whales own 55.5% of the supply.

🐳📉 #Bitcoin's non-whale wallets, defined as addresses with under 100 $BTC, have climbed to new #AllTimeHigh levels, now owning 41.1% of the available supply. Meanwhile, whales with 100 to 100K, own 55.5% of the supply, their lowest amount held since May. https://t.co/JktSd6yM6Z pic.twitter.com/f2cwYZ3MTX

— Santiment (@santimentfeed) September 21, 2023

The number of traders showing interest in the leader of cryptocurrencies could drive the price of BTC upwards. Many speculate that BTC’s prices could continue to trade between the $25K and $30K levels, before breaking out in the bullish cycle. However, one crypto analyst under the pseudonym of Rekt Capital recently tweeted that BTC may fall below $26K before expecting a surge during its BTC-halving event.

#BTC Bitcoin hasn't yet revisited the Macro Higher Low in this cycle (blue circle)$BTC #Crypto #Bitcoin pic.twitter.com/XUjl8TPZLr

— Rekt Capital (@rektcapital) September 21, 2023

This analysis was conducted by focusing on the historical price movements of BTC. The comment section was also flooded with users debating whether this statement was true or not. While some claimed this analysis is true, others rejected the analysis suggesting that it is false.

One Twitter user Diplocat expressed, “I don’t think a massive global black swan event of the magnitude of COVID counts as a valid data point, especially when it is the only data point to base a whole chart on. In other words, I wouldn’t count on it, mate.”

At the time of writing, BTC is trading at $26,686.25 after experiencing a surge of 0.34% in seven days. The market cap is valued at $520,312,465,932, after facing a fall of 1.04% in 24 hours. Despite the slight downfall, traders still have a demand for BTC as the trading volume, valued at $14,134,845,243, is experiencing a surge of 11.85% in 24 hours.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Will BTC Fall Despite Bitcoin’s Non-Whale Wallets Reach All-Time High? appeared first on Coin Edition.