Ethereum price dips by 2.50% amid broader market crash, sparking concerns of a drop to $3,000.

Despite recent setback, some investors hopeful for long-term gains, citing potential for a bullish trend triggered by Bitcoin Halving.

ETH finds support at $2,850 but faces resistance; mixed signals from technical indicators add to market uncertainty.

Ethereum, the largest altcoin by market capitalization, was not immune to the recent crash, with the ETH price declining by 2.50%. Concerns about a potential drop to $3,000 have arisen due to this recent setback and broader market fears of an intense correction.

Despite the current downturn, some investors remain optimistic about Ethereum’s long-term price trend. The history of Bitcoin Halving bringing an altcoin season has teased the possibility of a future bull run.

With a market cap of $382 billion, Ethereum has seen an 18% drop over the past few weeks. However, the ETH price has found support at the 50% Fibonacci level, around $2,850.

The weekly chart’s consolidation between the 50% and 61.80% Fibonacci levels has been extended by the most recent downturn. A possible bullish break is suggested by the smaller price rejection from the 50% Fib level, which results in a sustenance above $3,000.

Can Ethereum pick up pace?

The price of ETH is currently trading at $3,140 with an intraday Doji candle, which illustrates the erratic nature of the altcoin. Ethereum might be able to resume its upward trend if the market is able to avert any more losses.

Technical indicators paint a mixed picture for Ethereum. The bearish crossover in the MACD and signal lines in the weekly chart is a result of the recent pullback phase. However, a bounce back from the 50% Fib level in ETH price could restart the positive trajectory.  

The price of ETH might break over the $3,265 overhead resistance and indicate a breakout entry opportunity if the Ethereum bull run continues. This possible bull run might test the strong $4,000 resistance level, leading to a 25% increase.

On the other hand, the chances of a drop to $3,000 are minimal but still concerning for investors. The current market conditions have created a sense of uncertainty, leaving investors to weigh the potential outcomes for Ethereum’s price action.

Ethereum withdraws from centralized exchanges have ramped up over the last week, suggesting a direction for investor sentiment during this time. Given the sheer volume of ETH withdrawn from these exchanges, it is prudent to try to understand what this could mean for the crypto’s price.

260,000 ETH Leaves Exchanges

Amid the uncertainty that has plagued the crypto market, Ethereum investors are making moves to secure their positions for better price prospects. Pseudonymous crypto technical analyst Titan of Crypto took to X (formerly Twitter) to share what Ethereum investors are doing about their holdings right.

Related Reading: Bitcoin Bears Risk Losing $7.2 Billion If BTC Price Reaches This Level

The post revealed that these investors have been withdrawing large amounts of ETH from centralized exchanges. In the one week period that was tracked, the report found that a total of 260,000 ETH were withdrawn from exchanges, which was worth almost $800 million at the time.

#Altcoins

Crypto exchanges witnessed an outflow of over 260,000 #ETH equivalent to more than $781 million within the past 7 days.

It’s time for #Ethereum shine. pic.twitter.com/jT1aocjvbI

— Titan of Crypto (@Washigorira) April 24, 2024

Now, exchange deposits and withdrawals are important for any cryptocurrency because it can often tell how investors are looking at that coin and what they are doing with their holdings. In the case of large deposits to centralized exchanges, it can be very bearish for the price because investors often deposit their coins in order to sell them as exchanges provide deep liquidity.

In contrast, withdrawals from exchanges suggest that investors are not looking to sell their ETH. Rather, they are accumulating the coins to wait for better prices before selling. Naturally, this is bullish for the Ethereum price as a diminished selling pressure gives room for the price to recover.

In this case, the withdrawals are bullish or the Ethereum price, as investors continue to accumulate. It also signals that investors are expecting a price breakout, and as the withdrawals ramp up, demand could surpass supply, leading to a surge in price.

Ethereum Headwinds Still Negative

Ethereum, while currently seeing some positive activity from investors, has still not turned completely bullish. For one, there has been a significant decline in its daily trading volume. According to data from Coinmarketcap, Ethereum’s trading volume is down approximately 20% in the last day.

This decline in volume suggests a declining interest from investors to actually trade the coin. As such, its price may be negatively affected as attention begins to shift elsewhere, with investors looking for better prospects.

Nevertheless, the cryptocurrency still looks bullish for the long term. Ethereum continues to closely mirror the price performance of Bitcoin, which is expected to go on a bull run following the successful completion of its fourth halving event.

For now, Ethereum continues to struggle to hold above $3,100 with small gains of 0.18% in the last day. Over the last month, it has suffered multiple crashes, registering a 12.36% loss in the last 30 days.

ETH price struggles to hold $3,100 support | Source: ETHUSD on Tradingview.com

Featured image from Investopedia, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

The post Ethereum Withdrawals From Exchanges Top 260,000 ETH – What This Means For Price appeared first on Crypto Breaking News.

Forbes has labeled several top-tier cryptocurrencies, including XRP and ADA, as "crypto zombies" in a recent research article. The term refers to layer-1 blockchains with major market valuation but limited utility beyond speculative trading.

Forbes points to Ripple Labs, the company behind XRP, as a prime example of a crypto zombie. Despite XRP's active daily trading volume, Forbes argues that its use extends no further than market speculation.  

XRP/USDT Chart by TradingView

Ethereum Classic (ETC) also ended up on the list for having a significant market value while generating relatively low fees on its network. The "true Ethereum" was created back in 2016 when, as the result of a hard fork stemming from the DAO incident, Ethereum Classic (ETC) emerged as a continuation of the original Ethereum blockchain.

Forbes also casts doubt on Algorand, once touted as an "Ethereum killer" for its high transaction capacity, citing a low income from blockchain transaction fees due to the lack of utility.

card

One way or another, the mention of Cardano was the biggest surprise. Forbes' article refers to the project as trading on the popularity of its founder, Charles Hoskinson. It notes a problem regarding Hoskinson's educational claims.

However, supporters of Cardano argue that its ecosystem is active and thriving, delivering value and utility that extends beyond mere speculation. They point to the network’s inflows and the ongoing development activities as evidence of its vitality and relevance.

Forbes' statements may sound harsh to those who consider themselves a part of the aforementioned communities. However, the view and opinion of the researcher may not always align with reality and is only a part of a personal outlook. Some of the mentioned projects indeed have issues with utility, while others represent vibrant ecosystems with strong cases.

According to Bloomberg, Consensys, a crypto software company, has filed a lawsuit in a federal court in Texas. The firm argues that if the Securities and Exchange Commission (SEC) is allowed to exert authority over Ethereum and its digital token Ether, it could potentially halt the blockchain, thereby 'crippling one of the internet’s greatest innovations.' This lawsuit comes at a time when Consensys is under increasing scrutiny.

In the lawsuit, Consensys is seeking a court ruling that Ether is not a security and therefore should not fall under the jurisdiction of the SEC. The company was founded by Joseph Lubin, who is also a co-founder of Ethereum. The SEC, however, has declined to comment on the lawsuit.

The case is officially known as Consensys Software Inc. vs. SEC, 4:24-cv-00369, and is being heard in the US District Court, Northern District of Texas, located in Fort Worth.

Since the beginning of the year, Cardano’s Plutus Scripts, including Version 1 and Version 2, have witnessed a remarkable increase of 171.45%. This surge in development activity signifies a growing ecosystem with promising potential.

One of the most significant milestones for Cardano was overtaking Ethereum in terms of average daily developer activity on GitHub back in December 2023.&middot

For the full story, head over to TheCurrencyAnalytics.com.

According to CryptoPotato, Ethereum's price has been experiencing increased selling activity after a period of consolidation and corrective movements, leading to a slight decline toward the 100-day moving average. The key question is whether Ethereum sellers will manage to break below this significant moving average.

A detailed analysis of the daily chart reveals that following an extended phase of corrective retracements, with the price testing the critical resistance region of $3.2K, the market experienced heightened selling pressure, resulting in a slight downturn. Consequently, the Ethereum price is now testing a crucial support level marked by the 100-day moving average at $3086. This range holds significance as it typically attracts considerable demand, potentially limiting further downward pressure from sellers. However, given the current market sentiment and recent price action, Ethereum appears to lack sufficient momentum and buying activity, increasing the likelihood of a new bearish trend in the short term.

A closer examination of the 4-hour chart reveals that following a period of sideways consolidation near the lower boundary of the wedge pattern, which aligns with the support region around $3K, the price experienced notable buying pressure, leading to a bullish reversal. This intensified demand resulted in a significant surge towards a critical resistance region, encompassing the 0.5 ($3234) and 0.618 ($3324) Fibonacci levels. However, sellers regained control and halted the upward momentum, causing a renewed bearish downturn, indicating a notable bearish sign for the market.

With Ethereum’s price failing to surpass the $3.7K level, investors may be interested in understanding the behavior of futures market traders. The 14-day moving average of the Taker Buy Sell Ratio, a metric that gauges the aggressiveness of buyers relative to sellers, has been on a sharp decline over the past few weeks. Moreover, the ratio has recently been steadily decreasing, nearing its lowest point since September 2022. This downward trend is concerning and suggests that Ethereum’s bearish trend could last in the mid-term if current conditions persist.

According to U.Today, Justin Bieber's foray into non-fungible tokens (NFTs) has seen a considerable downturn, with the value of his investments experiencing a significant drop. Data from Arkham Intelligence reveals that Bieber's NFT investments, which totaled over $2 million in 2022, have depreciated by about 95%, now valued at just over $100,000.

Bieber's NFT portfolio decline is reflected in the fate of his acquisitions. Initially, his wallet received a substantial sum of $2.34 million in Ethereum (ETH), which he used to purchase two Bored Apes and two Mutant Apes, totaling $1.86 million. He also invested in various other tokens, including a World of Women token, two Doodles, an Otherdeed, and a Metacard. These tokens have seen significant value declines ranging from 89.7% to 97.4%.

Despite the substantial losses, Bieber's wallet still holds some value, currently containing just under $500,000 in Ethereum (ETH) and APE tokens. He continues to hold one Bored Ape and one Mutant Ape, although their combined value has decreased to approximately $47,300.

Celebrity involvement in cryptocurrency reached its peak during the latter stages of the previous bull cycle in late 2021. Celebrities such as Eminem, Justin Bieber, and rapper Future were reported to be participating in the crypto space, either by purchasing popular NFT collections like Bored Apes or by adopting symbols like laser eyes on their social media avatars. However, the subsequent downturn in the crypto market has led to significant adjustments in their investments.

While Bitcoin's price has rebounded impressively since hitting rock bottom in late 2022, soaring over 400% and setting new all-time highs, the market has yet to fully recover to its 2021 fervor. Bieber's experience serves as a stark example of this reality, with his NFT investments recording a substantial loss despite the recent resurgence in cryptocurrency prices.

Key Takeaways:

Ethereum is struggling to recover above the $3,300 resistance zone.

ETH/USD is still above a crucial parabolic curve with current support at $3,000 on the weekly chart.

The price could decline heavily if there is a weekly close below $3,000.

New Delhi (CoinChapter.com): Ethereum (ETH) is struggling to gain bullish momentum above $3,300. There could be a sharp decline if the bears push the price below $2,900-$3,000.

Ethereum Price Near Crucial Juncture

In the last weekly analysis, we discussed the importance of the $2,900 support for Ethereum. ETH price did stay above the $2,900 support zone and recently attempted a recovery wave, like Bitcoin. There was a minor increase above the $3,050 and $3,150 levels.

However, the bears were active near the $3,250 and $3,300 levels. Earlier, there was a sharp decline below the 50% Fib retracement level of the upward move from the $2,172 swing low to the $4,082 high. The price tested the $2,900 support and started a consolidation phase.

Ethereum price weekly chart | Source: ETH/USD on TradingView.com

The bulls seem to be putting up a strong fight near the $2,900 and $3,000 support levels. Besides, Ethereum is still above a crucial parabolic curve with current support at $3,000 on the weekly chart.

The last two candles now signal a possible bullish exhaustion pattern. Having said that, the bears need a weekly close below the parabolic curve, the $2,900 support zone, and the 61.8% Fib retracement level of the upward move from the $2,172 swing low to the $4,082 high.

If Ether settles below the $2,900-$3,000 support zone, there could be a major pullback. In the stated case, the bears might aim for a move toward the $2,620 support zone. The next major support sits near the 50-week simple moving average (blue) at $2,200.

Fresh Rally In ETH?

Conversely, Ethereum might remain strong above the curve support and attempt another increase. Immediate resistance is near the $3,250 level. The first major resistance is $3,300. If the price clears the $3,300 resistance, it could open the doors for a move toward the $3,630 resistance.

The next key resistance might be $3,880. A close above the $3,880 level could initiate a move toward the $4,000 resistance. Any more gains might send the price toward the $4,400 level in the coming weeks.

Overall, Ethereum price is showing a few bearish signs below $3,300. If the bulls fail to protect a weekly close below $2,900, there could be more losses toward $2,200. Conversely, the price might start another increase toward $3,630 in the coming weeks.

The post Ethereum Price Signals Bullish Exhaustion, Can Bulls Save The Week? appeared first on CoinChapter.

According to PANews, Ethereum co-founder Vitalik Buterin recently expressed his views on the centralization of Proof of Work (PoW) on an unnamed platform. He stated that PoW is quite centralized, but it is not discussed as much because everyone understands that it is only a temporary phase before the transition to Proof of Stake (PoS).

Buterin did not delve into how we might primarily avoid Application-Specific Integrated Circuits (ASICs), simply because the impending switch to PoS means there is no incentive to build them. His comments highlight the ongoing debate in the crypto community about the centralization and decentralization of blockchain technologies.

The Ethereum co-founder's remarks come at a time when the crypto industry is preparing for the transition from PoW to PoS, a move that is expected to address issues of scalability and energy consumption. Buterin's comments underscore the temporary nature of PoW and the anticipation for the switch to PoS.

SEC’s rumored rejection of Ethereum ETFs prompts uncertainty in the market.

Despite bullish trends, Ethereum sees significant outflows from exchanges.

Ethereum has emerged as a focal point of discussion in the cryptocurrency community, with traders closely monitoring reports surrounding the SEC’s rumored plans to reject spot EthereumETF proposals in May. Despite optimism stemming from the approval of spot Bitcoin ETFs in January 2024 and the excitement surrounding the BTC halving in April, uncertainty looms over the fate of Ethereum and other altcoins.

Traders are grappling with the potential implications of the SEC’s stance on Ethereum ETFs, which could significantly impact ETH. While hopes for a rally persist, recent indications suggest that approval may not be imminent, leading to a rise in bearish sentiment among traders.

ETH Price Chart, Source: TradingView What’s Further?

Against this backdrop, Ethereum has witnessed significant outflows from exchanges even as its price surged above the $3,000 mark, signaling investor confidence in further price appreciation. Notably, Titan of Crypto, a prominent analyst, highlighted the substantial outflow of over 260,000 ETH, equivalent to more than $781 million, from exchanges within the past week.

Furthermore, notable figures like Justin Sun have been accumulating ETH, with recent data indicating significant withdrawals from exchanges. 

Analysis suggests that Ethereum’s net deposit on exchanges has increased compared to the previous seven days, indicating a shift towards selling among investors. However, whale accumulation of Ethereum has remained unaffected, as evidenced by the continued rise in ETH’s supply held by top addresses.

At present, ETH is trading at $3,147.75 with a 0.45% drop and the trading volume is down 4.07%.

Not so long ago, the words “niche” and “hype” were thrown around quite often when talking about anything related to crypto. But things have changed in the last few years, and it’s almost impossible to see that crypto has become mainstream. 

In time, people have looked beyond Bitcoin and started to explore the potential in some of the non-BTC coins on the market. These coins are called “altcoins,” and you can witness the top ten right here.

Ethereum (ETH)

Being a pioneer in the world of cryptocurrencies, Ethereum keeps attracting traders and crypto devotees with its distinctive traits and relentless drive to improve. Similar to Bitcoin, you can use ETH to purchase and sell products and services. What makes Ethereum stand out is that you can create apps that function similarly to software on a computer OS.

As one of the best altcoins in 2024, Ethereum stands out because it has a programmable chain with robust smart contracts. Because of this feature, Ethereum has become an important base for dApps and DeFi protocols, strengthening its influence on the blockchain world.

Ripple (XRP)

With XRP, you may buy and sell a wide range of assets. Despite the high rises and deep lows in recent years, XRP has managed to stay on track.

Plus, the XRP Ledger was the first decentralized exchange (DEX) with a system that let users create their own tokens. This open-source platform has a reputation for being more environmentally friendly than other digital currencies, which might be a factor in its overall appeal. On top of that, XRP is the favorite crypto asset in the financial industry and is a common currency among major banks.

Solana (SOL)

Solana is specifically made to handle dApps and cryptocurrencies quickly and easily.

Solana, often dubbed the “Ethereum killer,” processes transactions at a rate far higher than Ethereum’s. So, it works great for apps that need to handle many activities quickly, like games or video streaming. Besides that, it is a cheaper option for crypto traders than its rival.

Solana has quickly integrated many of Ethereum’s technologies, from DeFi and NFTs to the metaverse, P2E games, and meme coins. These factors have contributed to the continued rise. 

Tether (USDT)

As one of the most famous US-pegged coins in the world, USDT is a popular choice for crypto enthusiasts looking to buy stablecoins.

USDT is mostly used to “tether” or keep other coins stable. To hedge against the extreme volatility of the cryptocurrency market, many investors are shifting their holdings into USDT. Thanks to this, the market is more stable, and investors may take advantage of cheap prices to purchase cryptocurrency and sell it at high prices.

In practice, this coin lets people use the blockchain and related tools to do transactions using conventional currencies while reducing the risk and complexity that usually come with crypto.

Binance Coin (BNB)

You can pay for deals and get discounts on the Binance market with BNB, which is the utility currency of a widely popular exchange. You may even utilize BNB to pay for things outside the exchange, like booking a trip or renting a room. 

The platform has integrated almost every new cryptocurrency technology to make its community bigger, from NFTs and memcoins to metaverse and P2E gaming models. Such an approach, along with continuous BNB burning, will set the token for a bigger spike in value.

USD Coin (USDC)

Similar to Tether, USDC is another dollar-backed stablecoin that helps traders avoid the continuous volatility in the crypto sector. Plus, being on Coinbase makes it highly accessible.

You can buy, sell, and send money with USDC while using crypto. It allows you to convert crypto to USDC and avoid the hassle of withdrawing funds to a regular bank account or credit card.  

Unlike other coins, USDC is a regulated currency in the US, offering more transparency and security than some crypto tokens out there. It’s also a popular choice for cross-border payments, helping users avoid the hassles and hefty fees of traditional wire transfers.

Avalanche (AVAX)

With its emphasis on cheap fees and fast transactions, Avalanche aims to address some of the critical problems other platforms face. AVAX holders can stake their tokens for bigger rewards and participate in yield farming through many projects it runs. 

As crypto trading becomes more mainstream and new traders enter the industry, AVAX could be a popular first choice for many. On top of that, the platform has taken many measures to improve its security and stability.

Cardano (ADA)

ADA’s blockchain platform is unique because it is both innovative and well-thought-out. It has been through a lot of peer review, which makes it stand out as a PoS token that could compete with Ethereum.

By creating DeFi products like Ethereum’s, Cardano wants to become a worldwide financial platform. It aspires to tackle some critical issues like interoperability and electoral fraud. 

Despite the recent fluctuations, it remains one of the more popular altcoins in the market.

Polkadot (DOT)

Launched in 2016 as a “next-gen” blockchain, Polkadot and its coin, DOT, promised to offer higher scalability, adaptability, and interoperability than previous versions. Establishing a solid foundation for dApps, It has delivered its promises by using “parachains” and bridges that can help simplify customization, boost resource efficiency, and remove interoperability barriers.

Also, DOT is a favorite token in development activities and a plethora of projects, one reason being higher security than other alternatives. It’s also the platform’s staking and governance token, promoting transparency and decentralization.

Dogecoin (DOGE)

Back in 2013, Dogecoin emerged as the first meme coin with seemingly zero utility. Still, it has gained tremendous popularity and value over the years, all thanks to a loyal fan base, a growing meme sector, and celebrity endorsements. 

DOGE transactions are quick and cheap, which makes them useful for everyday use and small transfers. On top of that, it’s a popular token used for charities funding humanitarian efforts all around the world, including Kenya. 

The inflationary supply system also helps the token dodge market volatility to a certain extent while preventing hoarding.

The post 2024’s Top Ten Altcoins: Diving into the Best of 2024 appeared first on Metaverse Post.

According to PANews, a recent report published by Syncracy reveals that MakerDAO has dominated nearly 40% of the DeFi profits on Ethereum over the past six months. The data, derived from TokenTerminal, analyzed the top 25 projects on Ethereum for the past 180 days, up until March 12.

The report highlights the significant role MakerDAO has played in the Ethereum ecosystem, demonstrating its dominance in the DeFi sector. This analysis provides a clear picture of the distribution of profits within the Ethereum DeFi space, with MakerDAO leading the pack.

The findings underscore the growing influence of DeFi projects on the Ethereum platform, with MakerDAO setting the pace. The report serves as a testament to the increasing relevance and impact of DeFi in the broader cryptocurrency landscape.

The FUD surrounding Ethereum remains incessant. 

While on the one side, the XRP army has been accusing the US Securities and Exchange Commission of displaying favouritism towards ETH. On the other hand, the SEC appears poised to not only publicly claim that Ethereum is a security, but also reject spot Ether ETFs in May. 

The Ethereum price has impressed the bulls with its resilience as it continues to trade above $3100. However, analysts are cautioning investors regarding the possibility of ETH falling to $2700 in the coming weeks. 

$ETH / $USD - Update Worse case i expect us to dip lower to $2700 support zone in time. Will take a few months, but failing to get over $3,600 would enable this pic.twitter.com/YLT8VaU3Nm

— Crypto Tony (@CryptoTony__) April 26, 2024

Consensys Lawsuit Reveals SEC Is Coming After Ethereum

Blockchain software company and the parent company of MetaMask - Consensys - sued the US Securities And Exchange Commission over “unlawful seizure of authority”. 

Consensys had previously received a Wells Notice by the SEC on April 10th, accusing the company of breaching the Securities Act via its MetaMask wallet. 

Looks like @Consensys received a Wells notice from the @SECGov in regards to its @MetaMask wallet so it’s chosen to sue the regulator first, asking a court to determine $ETH status. The question @GaryGensler has refused to answer may now ultimately be answered by a court. https://t.co/DKzZAbW03P

— Eleanor Terrett (@EleanorTerrett) April 25, 2024

In response, the former has gone on the offensive, suing the Commission for overreaching its authority. Consensys wants the court to declare that Ethereum is not a security and that decentralized wallets such as MetaMask could not be security brokers. 

SEC chairman Gary Gensler has traditionally remained wishy-washy regarding ETH’s security status, even in various Congressional hearings. 

Gensler also previously hinted that while ETH was initially a commodity, the Ethereum merge - which changed its consensus mechanism from proof-of-work to proof-of-stake - could have made it a security. 

Needless to say, Ethereum being declared a security could be catastrophic for its price. 

The SEC is also set to reject all spot Ethereum ETF applications, including BlackRock’s. It is unclear whether this decision is already priced in by the market or whether the second-largest cryptocurrency will take another hit in May. 

Ethereum Price Forecast - Is ETH Headed To $2700?

ETH has shown resilience, much to the delight of the bulls.

A look at the Ethereum price chart showcases that while it did plunge 6% on Thursday, it has managed to trade above the $3,100 support - at $3,150 at press time. 

However, popular trader Crypto Tony reveals that Ethereum needed to flip the $3600 resistance into support to resume its bullish trajectory. Now that this looks like a distant dream, he projects the ETH price to gradually dip to the $2700 support. 

Analyst Benjamin Cowen also expects the ETH/BTC trading pair to remain bearish. In a recent X post, Cowen highlights how the ETH/BTC chart shows weakness in the second financial quarter before hitting a bottom in June. 

New Meme Coins Could See Higher Demand If Ethereum Rally Halts

It is unlikely for Ethereum to show a sudden sharp decline in light of the SEC vs Consensys lawsuit. 

Most market participants saw this legal battle coming from a long way, as could also be the case with the rejected spot ETH ETFs. 

However, these two factors, in addition to the continued macroeconomic risks, could lead ETH to adopt a consolidatory price action with a slightly bearish trajectory to $2700. A tepid Ethereum also reduces the possibility of an altcoin season. 

In such a scenario, investors could once again turn to new meme coins for potentially higher volatility and greater returns. 

Could WienerAI Be The Next 100x Meme Coin?

New Ethereum-based meme coin WienerAI is off to a strong start in its presale, raising over $375k on the very first day.

The WienerAI meme coin claims to be represented by the first AI-powered sausage dog, one that has already captured the imagination of investors through its hilarious portrayal. 

After all, the new motto in the meme coin community has become, “If it makes me laugh, I’m buying”. Notably, one of the earliest investors in Dogwifhat ($WIF) - trader Blockgraze - revealed he invested in the meme coin simply because the dog had a hat. 

Therefore, the strong early demand for the first Wiener/Dog/AI-inspired meme coin is not out of the ordinary. 

However, the new meme coin also has utility. Being an Ethereum-powered meme coin, it allows token holders to stake their holdings. According to the WienerAI staking dashboard, the current reward rate is over 1800%. 

However, this yield percentage is set to decrease as an increasingly higher number of tokens are staked, giving an advantage to the early buyers. 

Investors can purchase WienerAI by visiting its website and using the over-the-counter widget to swap ETH, BNB or USDT tokens. They could also use a bank card. 

They can learn more about the meme coin through its whitepaper or by following its X or Telegram account. 

Visit WienerAI Presale

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

According to U.Today, Forbes recently referred to several high-profile cryptocurrencies, including XRP and ADA, as 'crypto zombies' in a research article. This term is used to describe layer-1 blockchains that have a significant market valuation but limited utility beyond speculative trading.

Ripple Labs, the company behind XRP, was highlighted as a prime example of a 'crypto zombie'. Despite the active daily trading volume of XRP, Forbes suggests that its use does not extend beyond market speculation. Ethereum Classic (ETC) was also included in the list due to its high market value and relatively low network fees. ETC was created in 2016 as a result of a hard fork from the DAO incident and is considered a continuation of the original Ethereum blockchain.

Forbes also expressed skepticism about Algorand, previously hailed as an 'Ethereum killer' for its high transaction capacity. The publication cited low income from blockchain transaction fees as evidence of its lack of utility.

The inclusion of Cardano in the list was seen as a surprise. Forbes' article suggests that the project trades on the popularity of its founder, Charles Hoskinson, and raises questions about his educational claims. However, Cardano supporters argue that its ecosystem is active and thriving, providing value and utility beyond mere speculation. They cite the network’s inflows and ongoing development activities as proof of its vitality and relevance.

While Forbes' statements may seem harsh to those who identify with the aforementioned communities, it's important to note that the views and opinions of the researcher may not always align with reality and are only part of a personal perspective. Some of the mentioned projects indeed have issues with utility, while others represent vibrant ecosystems with strong cases.

SPONSORED POST*

The Bitcoin halving has come and gone, and as many analysts predicted, the supply shock sent prices upwards. As history has proven, the Bitcoin halving not only affects Bitcoin but other tokens too. The Ethereum price has seen a rise, as has many altcoins. Coindesk has made a few predictions about where the Bitcoin and Ethereum price will go, but not even the most bullish analysts have these tokens doing as well as the new Meme-fi AI token Raboo (RABT), currently in presale at $0.0036

Bitcoin (BTC): Bitcoin Halving Sees Price Predictions Double

For those who are unsure, the Bitcoin halving is an event that happens every four years where Bitcoin mining becomes twice as difficult as it used to be, which means a miner’s reward “halves” for the same amount of energy put in. This is the genius of Bitcoin, ensuring its scarcity and deflationary nature.  

The Bitcoin halving means the supply of Bitcoin is immediately cut in half, and basic economic principle states when supply goes down, the price goes up. Coindesk is predicting that Bitcoin will far overshoot its all-time high and hit over $86,000 within a month and then will double that in a year, making Bitcoin a solid investment. 

Ethereum (ETH): Ethereum Price Prediction Lowballs

Coindesk’s Ethereum price prediction is bullish but not as bullish as Bitcoin’s. According to the trusted source, the Ethereum price will reach about $3,200 in this month, well below its ATH, but Ethereum will double to about $6,600 in the year.

This is remarkably low, as altcoins have traditionally outpaced Bitcoin in post-halving gains. It is possible that the analysts have this one wrong, and the Ethereum price can still climb quite significantly on improved post-Bitcoin halving market sentiment. Still, investors looking for faster assets may have other options.

Raboo (RABT): Presale Gains Sees ICO Off To Flying Start

Seasoned investors know where to get the most bang for their buck, and that is often in ICOs and presales. Presales are structured so as to  guarantee a price rise independent of market sentiment. Raboo’s presale is set to go up by 233% at the conclusion. On the back of the post-Bitcoin halving sentiment, analysts are predicting Raboo will 100X once it trades on the open market after its presale.

Raboo is a new AI meme coin that marries the current market-defining coin categories of AI crypto with meme coins, two of the highest-grossing coin types in the cryptosphere. Meme coins have proven to be extremely lucrative investments. With an AI engine behind it, Raboo is set to go nuclear upon release, making a massive ROI for early investors.

Conclusion:

The overall prediction for the crypto markets since the Bitcoin halving is bullish, with the Bitcoin and Ethereum prices growing steadily. But for massive ROI, partaking in the Raboo presale is a great way to follow in lucrative meme coin investment footsteps for returns like those seen by investors in Dogecoin, Shiba Inu, and Pepe Coin.

You can participate in the Raboo presale here.

*This article was paid for. Cryptonomist did not write the article or test the platform.

Ethereum (ETH) has been on a wild ride in recent weeks, with the second-largest cryptocurrency experiencing significant price fluctuations following Bitcoin’s highly anticipated halving event.

Despite a 4.73% drop in the last 24 hours, which saw ETH trading at $3,125, whales remain undeterred in their accumulation of the digital asset, signaling a strong belief in its long-term prospects.

TLDR

Despite recent market volatility and a 4.73% drop in Ethereum’s price, whales continue to accumulate ETH, demonstrating their bullish sentiment.

Large whale purchases, such as the acquisition of 7,128 ETH worth $22 million and 1,524 stETH worth $4.185 million, suggest confidence in Ethereum’s long-term potential.

The share of total ETH supply held by top addresses has increased from 41.37% to 41.45% since the Bitcoin halving, indicating ongoing accumulation by whales.

In derivatives markets, 63% of whale positions on Binance are long on ETH, further reinforcing the bullish outlook among large investors.

Although Ethereum faces resistance at $3,200, technical indicators suggest that a break above this level could lead to a surge in price, potentially reaching $3,500 or even $3,550.

On-chain data from Spot On Chain reveals that whales have been capitalizing on the recent dip, making substantial purchases of ETH.

One notable transaction saw a whale acquire 7,128 ETH, worth a staggering $22 million, at an average price of $3,111. This particular investor now holds an estimated $482 million worth of ETH, demonstrating an unwavering commitment to the cryptocurrency despite short-term market volatility.

Whales appear to remain bullish with $ETH despite the recent market crash!

Will the $ETH price recover soon? ????

Follow @spotonchain and set alerts for $ETH to know the next significant whale activity now: https://t.co/js2Cq7crji pic.twitter.com/fLbWyLDJ3I

— Spot On Chain (@spotonchain) April 25, 2024

Another whale, with the wallet address 0xe0b, scooped up 1,524 stETH at an average price of $3,159, pushing their total stETH holdings beyond the $10 million mark. This strategic move has already yielded an estimated 3.42% profit, showcasing the potential rewards of accumulating ETH during market downturns.

The bullish sentiment among whales is further evidenced by the increasing share of total ETH supply held by top addresses.

According to data from Santiment, the percentage of supply held by these addresses has risen from 41.37% on the day of the Bitcoin halving to 41.45% as of April 24th. This growth in holdings suggests that whales are actively accumulating ETH, even as prices fluctuate.

In the derivatives markets, the majority of whale positions on Binance are long on ETH, with approximately 63% of these large investors betting on the cryptocurrency’s future price appreciation.

While long exposure has slightly decreased following the halving, the overall sentiment remains bullish, indicating a strong belief in Ethereum’s potential to rebound and reach new heights.

As Ethereum navigates the current market landscape, it faces a crucial test at the $3,200 resistance level. Technical analysis suggests that a decisive break above this threshold could pave the way for a significant price surge, with potential targets at $3,500 and even $3,550.

However, failure to overcome the $3,200 barrier may lead to further downside pressure, with support levels identified at $3,125, $3,075, and $3,030.

As the market sentiment leans towards greed, an increase in buying pressure could fuel Ethereum’s rebound in the days ahead, potentially setting the stage for a new phase of growth and adoption.

The post Ethereum Whales Dive In: Massive Accumulation Signals Bullish Future appeared first on Blockonomi.

TLDR

Ethereum’s (ETH) price may reclaim support or decline towards $2.5K.

Milei Moneda ($MEDA) witnessed a remarkable surge in its ongoing presale.

With Ethereum (ETH) consolidating around the $3,000 support level following its recent halving event, experts are analyzing whether it can reclaim its previous high of $3,500. Meanwhile, Milei Moneda ($MEDA) continues to soar in its presale as it prepares for its highly anticipated Uniswap listing. Let’s explore why you should add these top altcoins to your investment portfolio.

Economize Like Milei: Invest in $MEDA!

 

Ethereum’s $3,000 Support Holds Firm Amid Market Uncertainty 

Ethereum’s price trajectory has recently been a subject of keen interest, with many wondering if it can reach the $3,500 level once again. Meanwhile, the daily chart of Ethereum shows a notable pattern of corrective retracements, culminating in the price finding support within a crucial zone.

Although the minor bullish RSI divergence suggests that the price could potentially reclaim the $3.5,000 support level, breaking below this critical support unexpectedly could set off a decline toward $2.5K.

Zooming in on the 4-hour chart, there is a formation of a descending wedge pattern during a multi-month consolidation correction. Following the halving event, the price reached the lower boundary of the wedge and found support around the $3,000 mark. This has resulted in a consolidation phase characterized by minimal volatility, indicating the presence of buying pressure within this crucial range.

Experts are closely monitoring the funding rates to gain further insights into the market sentiment and the driving factors behind Ethereum’s price movements. As ETH prices dropped, funding rates declined, and many future positions were liquidated during the downtrend.

Consequently, the market is now primed for long positions to re-emerge, potentially causing prices to pump upwards again.

 

Milei Moneda Presale Surges Ahead With a Strong Investor Interest

While experts analyze Ethereum’s price trend and potential impact on the market, the remarkable momentum gained by Milei Moneda’s native token, $MEDA, in its presale phase cannot be ignored. Known for its vibrant community and promising growth prospects, Milei Moneda has quickly established itself as the best crypto to buy for investors seeking substantial returns.

Milei Moneda sets itself apart with its commitment to minimizing trading fees. With a 0% tax system in place, Milei Moneda ensures that investors can trade and transact with minimal financial burden. This aspect makes it the best crypto for beginners as well as seasoned investors seeking cost-effective opportunities.

Unlike many other meme coins that rely solely on internet hype, $MEDA sets itself apart by placing a strong emphasis on community engagement and establishing partnerships with influencers. This strategic approach underscores $MEDA’s commitment to long-term viability and sustainability, indicating that it aims to transcend the short-lived popularity often associated with meme coins.

Currently, Milei Moneda tokens are available in Stage 2 of the public presale at an altcoin price of $0.0125. As the presale progresses to Stage 3, the value of $MEDA is expected to rise to $0.015. With its anticipated launch on Uniswap fast approaching, Milei Moneda aims to establish a solid presence in the market by listing at a DeFi coin price of $0.020.

Got $MEDA curiosity? Visit us or chat on Telegram for the inside scoop. Fast, fun, and informative!

The post Post-Halving Analysis: Can Ethereum Retest $3,500 Now? Expert Explains Price Trend On Ethereum As $MEDA Presale Surges appeared first on BitcoinWorld.

The on-chain analytics firm Santiment has revealed that over 85% of all altcoins in the sector are currently in the historical “opportunity zone.”

MVRV Would Suggest Most Altcoins Are Ready For A Bounce

In a new post on X, Santiment discussed how the altcoin market looks based on their MVRV ratio model. The “Market Value to Realized Value (MVRV) ratio” is a popular on-chain indicator that compares the market cap of Bitcoin against its realized cap.

The market cap here is the usual total valuation of the asset’s circulating supply based on the current spot price. At the same time, the latter is an on-chain capitalization model that calculates the asset’s value by assuming the “true” value of any coin in circulation is the last price at which it is transferred on the blockchain.

Given that the last transaction of any coin would have likely been the last time it changed hands, the price at its time would act as its current cost basis. As such, the realized cap essentially sums up the cost basis of every token in the circulating supply.

Therefore, one way to view the model is as a measure of the total amount of capital the investors have put into the asset. In contrast, the market cap measures the value holders are carrying.

Since the MVRV ratio compares these two models, its value can tell whether Bitcoin investors hold more or less than their total initial investment.

Historically, when investors have been in high profits, tops have become probable to form, as the risk of profit-taking can spike in such periods. On the other hand, a dominance of losses could lead to bottom formations as selling pressure runs out in the market.

Based on these facts, Santiment has defined an “opportunity” and “danger” zone model for altcoins. The chart below shows how the market currently looks from the perspective of this MVRV model.

The data for the MVRV divergence for the various altcoins | Source: Santiment on X

Under this model, when the MVRV divergence for any asset on some timeframe is higher than 1, the coin is considered to be inside the bullish opportunity zone. Similarly, if it is less than -1, it suggests it’s in the bearish danger zone.

The chart shows that MVRV divergence for a large part of the market is in the opportunity zone right now. As the analytics firm explains,

Over 85% of assets we track are in a historic opportunity zone when calculating the market value to realized value (MVRV) of wallets’ collective returns over 1-month, 3-month, and 6-month cycles.

Thus, if the model is to go by, now may be the time to go around altcoin shopping.

ETH Price

Ethereum, the largest among the altcoins, has observed a 3% surge over the past week, which has taken its price to $3,150.

Looks like the price of the asset has gone up over the last few days | Source: ETHUSD on TradingView

Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

The post 85% Of Altcoins In “Opportunity Zone,” Santiment Reveals appeared first on Crypto Breaking News.

The post Will Ethereum (ETH) Price Plunge To $2.8K As Bearish Trend Intensifies? appeared first on Coinpedia Fintech News

Following the worldwide market correction at the start of the month, the ETH price has been displaying a neutral trend in its chart, suggesting a constant decline in the price action for this altcoin in the market. 

The Ethereum token has recorded a correction of 14.28% over the past 30 days but has recorded a Year-to-Date (YTD) of 37.68%. Moreover, the pending approval of the spot Ethereum ETF could play a significant role in future price action which could result in either way.

ETH Price On The Verge Of A Major Breakout:

The altcoins leader, Ethereum price, continues to hover close to its important support level at $3,150, highlighting a weak price sentiment for it in the crypto market. Moreover, it has formed a symmetric triangle pattern in the 1D time frame.

TradingView: ETH/USDT

The Ethereum token is presently trading within the triangle close to its support trend line and is on the verge of testing its resistance zone, the outcome of which is unpredictable.

Furthermore, the ETH price has added less than 1% within the past seven days, highlighting a switch of interest among investors toward other cryptocurrency tokens.

Ethereum’s Market Sentiments:

The Cross EMA 50-day acts as a resistance to the price chart in the 1D time frame, indicating uncertainty in price action for the leader of altcoins this week.

On the other hand, the RSI shows a neutral trend, highlighting weak buying and selling pressure for the ETH price.

Will ETH Price Hit $4,000 In Q2?

If Ethereum successfully breaks out of the symmetric triangle pattern, it will test its resistance level of $3,697.25 by the coming week. Maintaining the price at that level will set the stage for the ETH token to attempt to test its upper resistance level of $4,000 during the upcoming month.

Negatively, if a trend reversal occurs, the altcoin leader will break down its support trend line and fall toward its lower level of $2,800 in the coming time.