🚀 XRP holders are celebrating as the cryptocurrency hit a three-year high, with long-term investors realizing over $1.5 billion in profits last week. Despite the surge, the Market Value to Realized Value (MVRV) ratio suggests a potential short-term overvaluation, hinting at a possible market correction.
Key drivers for XRP's rise include regulatory clarity for Ripple Labs, new money market funds on XRP Ledger, and bullish technical analysis. Ripple's investment in the newly rebranded Bitwise Physical XRP ETP further boosted prices.
What do you think about XRP's future? Share your thoughts in the comments!
$ORCA is showing bullish strength after consolidating at $1.50 support, eyeing a move toward $5.40. The expanding volume, paired with the influence from $AXS , is adding momentum to its growth. Traders should closely monitor $BTC dominance, as it plays a pivotal role in determining market sentiment, which can significantly impact $ORCA’s breakout potential.
🚀$PEOPLE 🚀
📈 Looking at the technical analysis of PEOPLE/USDT, the price is currently at $0.05939 with a 1.35% increase. The 24h high was at 0.06113 and the low at 0.05603, with a 24h trading volume of 519.31M PEOPLE and 30.39M USDT.
🔍 Based on the BOLL indicator (20, 2), the upper band is at 0.06550, the middle band at 0.06105, and the lower band at 0.05659. The current price is below the middle band, indicating a potential buying opportunity.
📊 Trading Signal: Considering the current price trend and BOLL indicator, it might be a good time to consider buying PEOPLE/USDT for potential gains.
{spot}(PEOPLEUSDT)
🌐 Exciting News from the Metaverse! Veelive is revolutionizing digital interaction by merging virtual worlds with real-world economic opportunities. Here's why it's capturing global attention:
- **Real Ownership**: Own virtual land and assets as NFTs, backed by blockchain for secure trading.
- **Passive Income**: Earn guaranteed returns on virtual properties, diversifying your investments.
- **Start Fund**: Begin your journey with a boost, making wealth-building accessible for all.
- **NFT Marketplace**: Trade income-generating assets, not just collectibles.
- **Influencer Nodes**: Creators can share success with followers, creating new revenue streams.
Join the conversation! What excites you most about Veelive? 💬
🚀 Crypto Buzz Alert! 🚀
Dogecoin is making waves as Elon Musk and Arthur Hayes hint at a $1 target by year-end. With DOGE currently at $0.37, analyst Ali Martinez predicts a breakout to $0.82 if it holds steady. Meanwhile, Cutoshi, a new memeFi altcoin, has raised over $1 million in its presale, sparking investor interest with its unique DeFi features. As crypto enthusiasts eye these trends, the market's heating up! 🔥
What are your thoughts on DOGE's potential and Cutoshi's rise? Share in the comments!
🌟 Exciting news for $ADA /USDT traders!
🚀 Our technical analysis shows that the price of ADA/USDT has surged by 8.96% in the past 24 hours, reaching a high of $1.0249. The current price stands at $0.9836, with a 24-hour low of $0.8881.
📈 The BOLL indicator suggests that the upper limit is at $1.0566, the middle limit at $0.9788, and the lower limit at $0.9010. Based on this data, we anticipate further upward movement in the price of ADA/USDT.
🔔 Trading Signal: Our prediction is that the price of ADA/USDT will continue to rise. Traders may want to consider entering a long position at the current price and set a target for profit-taking.
{spot}(ADAUSDT)
This heatmap highlights $BTC D3 liquidations. It shows intense liquidation activity around $95,000 and $90,000, where many traders' leveraged positions were closed. The sharp drop in Bitcoin's price triggered these liquidations, amplifying market volatility. After the decline, the price stabilized, with liquidation activity diminishing. This indicates how leveraged trading contributed to recent price swings.
Personally, I think a sharp scam dump towards $90k zone is a possibility that would wipe out almost $600M in liquidities before it proceeds to attempt again breaking out the $100k mark to establish its new ATH.
Why MegaVault is a Game Changer in Liquidity Provision
Let’s break it down with numbers:
🔹 A 20% yield in $USDC could be considered attractive
🔹 dYdX protocol fees last year were around $40M.
🔹 The MegaVault will receive 50% of those protocol fees, which would have been around $20M last year.
If we consider any yield above 20% attractive, this would mean that USDC stakers should provide up to $100M in liquidity to dYdX MegaVault just for the 20% return.
But that's not all.
A common issue for perp exchanges is that they're limited by liquidity - especially on long-tail markets. With this new liquidity flowing into dYdX markets via MegaVault, there's a good possibility of an increase in volume, leading to an increase in fees.
For example, with $100M more in liquidity, dYdX volume could potentially double, leading to the fees in MegaVault increasing from $20M closer to $40M.
From this increase, stakers who deposit $USDC into MegaVault could benefit from more returns due to the additional inflow of liquidity in the vault and decide to stake more.
Pretty cool, right?
To add to all of this, do note that liquidity coming from the MegaVault isn't the only stream of liquidity to new markets on dYdX. All the existing liquidity works alongside the MegaVault to ensure that markets are tradable.
It's not a case of replacing the current liquidity; it's about adding more to it 🤝
GMX is introducing a 25% reduction of Open & Close fees on select markets:
On 4 December 2024, the SOL/USD, DOGE/USD, and LINK/USD markets will be the first markets to trial updated parameters, aimed at making trading more affordable and secure.
The Open and Close fees for all trades on these markets will be reduced to a flat 4.5 basis points, from the current rates of 7 bps / 5 bps.
Additionally, the newly activated liquidation fees (initial parameter: 20 basis points) will be implemented for these markets at the same time.
These updates aim to lower costs for all traders, support larger markets, and create a safer and more sustainable mechanism for liquidity providers absorbing liquidations.
Feedback and monitoring of these updates will be evaluated over several weeks, before considering application to additional markets.
🚀 Exciting news for $SKL /USDT traders!
📈 According to our technical analysis, the price of SKL/USDT has seen a significant increase of 26.59% in the past 24 hours, reaching a high of $0.07457. Currently, the price is hovering around $0.07099, with a 24-hour low of $0.05421.
📊 Looking at the BOLL indicator, the upper limit is at $0.06658, middle limit at $0.05986, and lower limit at $0.05314. Based on this data, we predict that the price could potentially continue to rise in the short term.
🔔 Trading Signal: Our prediction is that the price of SKL/USDT will continue to increase. Traders may want to consider buying now and setting a target price for profit taking.
{spot}(SKLUSDT)