According to Odaily, Sui has officially launched its native cross-chain bridge, Sui Bridge, on the testnet. The move aims to enhance interoperability between Sui and Ethereum. Sui Bridge allows users to securely and efficiently cross-chain assets such as ETH, wBTCUSDC, and USDT. This is achieved by leveraging the fast transaction speed, low transaction costs, and decentralized architecture of the Sui network.

The launch of Sui Bridge on the testnet is a significant step towards improving the interoperability between Sui and Ethereum. It allows users to take advantage of the benefits of both networks, including fast transaction speeds, low transaction costs, and a decentralized structure. This development is expected to bring about a more efficient and secure cross-chain asset transfer process.

In conclusion, the official launch of Sui Bridge on the testnet marks a significant milestone in the quest to enhance interoperability between Sui and Ethereum. By allowing users to securely and efficiently cross-chain assets, Sui Bridge leverages the strengths of the Sui network, including its fast transaction speed, low transaction costs, and decentralized architecture.

According to Odaily, the founder of Milady has announced the conclusion of the token sale for Cult X. The sale successfully raised a total of 5861.8 Ethereum (ETH).

According to Odaily, Ethereum core developer, known as eric.eth, has refuted claims that the founder of Curve suffered losses due to the liquidation of CRV. In a post on platform X, eric.eth stated that the Curve founder did not incur any 'losses' as a result of the CRV liquidation.

He further explained that the founder had made a profit of $100 million from a CRV position worth $140 million. Selling on the market would have resulted in a similar price and caused dissatisfaction within the community. This statement by eric.eth aims to clarify the financial implications of the CRV liquidation for the Curve founder and the broader community.

TL;DR

Ethereum (ETH) has declined to around $3,500, but analysts predict potential new all-time highs due to positive technical indicators.

Metrics such as negative exchange netflow and a low RSI suggest reduced selling pressure and possible price recovery.

Is It Time for a Resurgence?

The price of Ethereum (ETH), similar to many other cryptocurrencies, plunged significantly in the past several days. Currently, the second-biggest digital asset in terms of market capitalization is worth around $3,500 (per CoinGecko’s data), a 9% decline on a weekly scale.

ETH Price, Source: CoinGecko

Nonetheless, some analysts think ETH will face good days ahead, with some speculating about a new all-time high in the following months. The X users Wolf and Jelle are some examples.

The former presented a price chart showing that ETH has been on a bullish path since the beginning of 2024. The analyst envisioned enhanced volatility for the asset in the upcoming future, which will eventually lead to a bull run and a new all-time high price of over $5,000.

I’m guiding you to new all-time highs. $ETH . pic.twitter.com/1ovHG2HSjz

— Wolf (@IamCryptoWolf) June 12, 2024

Jelle claimed that ETH “successfully retested the 50-day EMA.” The analyst believes the asset’s valuation could reach fresh peaks once it surpasses the $3,700 zone. 

The 50-day Exponential Moving Average (EMA) is an important technical analysis tool that could suggest a potential price movement. It helps identify prevailing trends in the past 50 days but with a bigger focus on the most recent data, unlike the SMA, and provides insights into potential buy and sell levels.

What Are Metrics Signaling?

Several major indicators also hint that an ETH price revival might be in the cards. One example is Ethereum’s exchange netflow, which has been negative in the last four days. A shift from centralized trading platforms towards self-custody methods is considered bullish since it reduces the immediate selling pressure.

ETH Exchange Netflow, Source: CryptoQuant

Separately, Ethereum’s Relative Strength Index (RSI) plummeted on June 11 to a multi-month low of 20.7, currently positioned at 36. The metric has not crossed the 70 mark since May 23.

It is a momentum oscillator that measures the speed and change of price fluctuations and identifies overbought or oversold conditions in a market. Its value varies from 0 to 100, with a ratio above 70 suggesting a pullback might be imminent. 

The post When Will Ethereum Start Rallying Again? Here Are the Latest ETH Price Predictions appeared first on CryptoPotato.

Toncoin targets an $11 breakout, backed by strong technical signals.

TON’s daily active addresses surpass Ethereum, fueled by a huge Telegram user base.

Market analysis suggests TON might dip for liquidity before climbing higher.

Toncoin (TON) is poised for a potential price surge, according to recent technical analyses and market trends. Its integration with Telegram, coupled with increasing adoption, fuels optimism among analysts and investors.

TON’s price is speculated to witness considerable price rise, aiming for as high as a $11 price target. In addition, an analysis chart from Ali charts shows Toncoin’s price movement forming a consolidating triangle pattern, signaling a tightening of prices and a possible breakout.

Market enthusiasts speculate a potential increase to $3.10, which would represent a significant gain. Moreover, the chart details Fibonacci retracement levels, indicating that TON is currently testing a resistance level. A successful breakout could see its value escalate to higher thresholds.

Source ali_charts

Market influencer Ali had posted on X about Toncoin’s potential, proposing a bullish outlook. He notes that TON might slightly dip to $7.2 to acquire more liquidity before rising. Such strategic pullbacks are typical in markets and often present buying opportunities for astute investors.

A commentary by Delphi Digital highlights a different aspect of Toncoin’s growth. Their analysis suggests a significant increase in daily active addresses, surpassing Ethereum. This spike is largely fueled by Toncoin’s association with Telegram’s 900 million user base. Delphi Digital emphasizes that while TON’s ecosystem is still in its early stages, the initial growth is promising.

Source Delphi Digital

Comparing Ethereum and Toncoin in terms of active addresses reveals much about their market positions. Ethereum maintains a consistently high number of active addresses, highlighting its status as a foundational blockchain platform. Toncoin, on the other hand, shows a rising trend in active addresses, indicating growing user engagement and adoption, although with fluctuations.

As Toncoin nears a potentially pivotal moment in its market valuation, both technical indicators and fundamental factors suggest a positive trajectory. Its integration with Telegram could play a crucial role in its adoption and utility, potentially transforming it from an emerging cryptocurrency to a mainstream financial instrument.

The post Toncoin (TON) Price Prediction: $11 Target Amidst Growing Telegram Adoption appeared first on Coin Edition.

According to BlockBeats, Jupiter's founder, Meow, expressed concerns over Ethereum's core issues in a social media post on June 13. He pointed out that the main problem Ethereum currently faces is the significant capital and incentives leaning towards creating L2/3/4 solutions, with almost no incentives for creating large-scale utility and value on any given core network.

This means that despite everyone's strong expression of the opposite desire, the division of the Ethereum community and capital will continue unabated in the foreseeable future. If the competition for block space exceeds today's level, whether Solana will face the same problem will be an interesting observation point.

The infrastructure construction for SVM application chains and L2 solutions is following the exact same trajectory as the early Ethereum L2 solutions. The core difference is that there is still more Alpha to be built directly on Solana itself compared to launching a new chain. Maintaining this dynamic will be the most important factor in determining the development of the situation.

According to Foresight News, recent data from Etherscan indicates a short-term increase in Ethereum Gas to 100 Gwei, which has now fallen back to 40 Gwei. This fluctuation in Ethereum Gas prices reflects the dynamic nature of the cryptocurrency market. Further details or implications of this change were not provided.

According to Odaily, UwU Lend, a protocol on the Ethereum blockchain, has offered a bounty of $5 million in ETH to anyone who can identify the individual who exploited a vulnerability in their system. This move comes after the attacker failed to return the stolen funds. UwU Lend has clarified that the bounty does not require the return of the stolen funds or any additional fees.

Previously, the protocol had discussed setting up a bounty directly with the individual who exploited the vulnerability. The attacker was allowed to keep 20% of the stolen funds, provided they returned the remaining 80%. UwU Lend stated that if the attacker complied, they would not pursue the matter further and would not involve law enforcement.

However, the attacker was required to return the funds by 1 PM Eastern Time on Wednesday. In a message sent to the attacker on Thursday, UwU Lend stated that the deadline for the return of the stolen funds had passed. The protocol is now seeking help from the public to identify the hacker and has set up a substantial bounty as an incentive.

The post Ripple Unveils RLUSD: A New Stablecoin on XRPL and Ethereum appeared first on Coinpedia Fintech News

Ripple has officially introduced its upcoming stablecoin, which will be named Ripple USD (RLUSD), a significant milestone in its strategic expansion. This announcement comes following enthusiastic speculation and teases from the crypto community. RLUSD is supported 1:1 by U.S. dollars, and aims to provide its users a stable as well as a transparent store of value. This stablecoin shall be available on XRP Ledger (XRPL) and Ethereum blockchain both, ensuring improved accessibility and broader reach within the crypto ecosystem.

Strategic Moves and Market Impact

The introduction of RLUSD comes right after Ripple’s recent acquisition of Standard Custody & Trust Company, which is a regulated custodian of digital assets. This acquisition plays a crucial role in strengthening the infrastructure of Ripple and ensuring a secure storage of USD reserves that supports RLUSD. 

Moreover, Jack McDonald, the former CEO of Standard Custody, is appointed as Senior Vice President of Stablecoins by Ripples, indicating commitment to a strong and secure launch. On the other hand, efforts of Ripple goes beyond the sector of stablecoin. We get this evidence from its partnership with Apple for the feature of Tap to Play on iOS, clearly highlighting how it influences the adoption of blockchain technology across the globe.

Future Prospects and Vision

CEO Brad Garlinghouse has humorously called the stablecoin “Real USD”, which also reveals the long-term vision of Ripple to provide an authentic as well as stable digital currency. Although it has faced major legal challenges with the U.S. Securities and Exchange Commission (SEC), Ripple has finally emerged as strong and determined in order to have a major impact on the stablecoin market.

RLUSD is expected to launch on the XRP Ledger and Ethereum by the end of 2024. Meanwhile, Ripple plans to offer faster along with transactions that are most cost-effective in comparison to traditional fiat currencies, thereby transforming altogether the sphere of stablecoin and stepping towards a broader growth of the Ripple ecosystem.

Also, read: Ripple’s XRPL EVM Sidechain REVEALED! Here’s What You Need to Know

Ethereum, the second largest cryptocurrency by market cap, has witnessed a significant drop in value following a recent general market downturn. The decline which saw millions liquidated from the crypto market within a short time, sent the price of Bitcoin, the flagship cryptocurrency, crashing to $66,000.

Consequently, the total crypto market cap has lost 3.74% at the time of writing to rest at $2.43 trillion. However, regardless of the bearish movement, Ethereum investors are optimistic about a potential rally that could send the price of the token above $4,000. But how possible is this?

Is Ethereum Price to $4k Feasible?

According to fresh data from CoinMarketCap, Ethereum has suffered a notable drop in the last 24 hours. Per the data, the coin is currently trading at $3,475, representing a 2.48% decline within the recorded time. In hindsight, ETH has lost about 9.28% in the last seven days but has significantly increased by 18.06% in the last 30 days.

Source: CoinMarketCap

Earlier today, Coinfomania reported that Gary Gensler, the Chairman of the Security and Exchange Commission (SEC) hinted that the Ethereum Spot ETF S-1 is likely to be approved by the end of Summer, precisely between June and September ending. If the SEC pulls through, the listing could lead to a large inflow of institutional funds into the product

This information has birthed a wave of optimism among investors as the prospect of a price rally above $4,000 begins to circulate. Ethereum investors are hoping that the price of Ethereum will mirror the success of Bitcoin after a spot ETF was approved for the asset on January 11. The approval of a spot ETF pushed the value of BTC to a new all-time high of $73k with billions of funds flowing into the product from issuers.

Previously, a 19b-4 filing was approved by the SEC, which catalyzed the surge of ETH above 22% to trade above $3,700 underscoring the potential impact of a listing by the regulatory watchdog. Ultimately, the possibility of ETH climbing above $4,00 is dependent on several factors such as general market sentiment and the approval of a spot ETF S-1.

The post Will Ethereum Spot ETF Listing Shoot the Price Above $4k? appeared first on Coinfomania.

According to BlockBeats, Delphi Digital reported on June 13 that the TON ecosystem has quietly grown, surpassing Ethereum in the number of daily active addresses. This growth has been driven by the push from Telegram's user base, which stands at 900 million.

Delphi Digital's report indicates that the TON ecosystem's growth has been largely unnoticed, despite its significant achievement. The number of daily active addresses on TON has now exceeded that of Ethereum, a leading player in the blockchain space. This milestone is a testament to the potential of the TON ecosystem and its growing influence in the blockchain industry.

The report attributes this growth to the influence of Telegram, a popular messaging app with a user base of 900 million. Telegram's vast user base has been a significant driving force behind the growth of the TON ecosystem. The messaging app's users have been instrumental in pushing the TON ecosystem to new heights, contributing to its increased daily active addresses.

This development underscores the potential of integrating blockchain technology with popular platforms like Telegram. It also highlights the growing influence of the TON ecosystem in the blockchain industry. As the TON ecosystem continues to grow and evolve, it is expected to play an increasingly significant role in the blockchain space.

The Toncoin price surged 8% in the last 24 hours to trade at $7.525 as of 03:33 a.m. EST on trading volume that skyrocketed 112% to $680 million.

This comes as Telegram’s The Open Network (TON) blockchain recorded more daily active users than Ethereum nearly every day this month. That’s attributed to Telegram’s 900 million user base, which Delphi Digital says is a factor that Crypto Twitter ignores.

The Flippening CT ignores 🔍

TON's quiet growth, fueled by Telegram's 900M user base, has driven its daily active addresses above Ethereum.

At its core, TON is a bet on Telegram's distribution. Though the ecosystem is nascent, its early growth is promising. But is it enough? pic.twitter.com/k2b2SMiQJD

— Delphi Digital (@Delphi_Digital) June 10, 2024

That’s helped power Toncoin to an all-time high (ATH) of $7.76 on June 5. But TON has not since been able to reclaim the ATH, with the token price dropping through a slight rounding bottom, forming the cup part of the cup and handle pattern.

The support level around $6.73 is acting as a major support for the bulls to push the token over the $7.521 resistance level, data from GeckoTerminal shows.

Toncoin Price Set For A Rally Towards A New ATH

The Toncoin price trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the bullish upside potential.

Moreover, the Relative Strength Index (RSI) trades up towards the 70-overbought region, currently at 60, which shows that the bulls are gearing up towards a bullish run as they buy more.

The Moving Average Convergence Divergence (MACD) is also bullish, with the blue MACD line crossing above the orange signal line, which represents a bullish crossover. The green bars on the histogram also extend beyond the neutral line, which shows that TON is on a positive trend.

Toncoin Price Prediction

The Toncoin price analysis on the 4-hour chart shows a bullish bias, as the bulls aim to sustain the token’s bullish rally, capitalizing on the cup and handle pattern.

With the RSI and MACD providing bullish prospects, optimistic investors may buy more, which could potentially push the token towards a new ATH, currently targeting $9.

However, if the bears take control of the price at this level, TON may drop back, with $7.2 and $6.7 levels acting as the immediate support levels, coinciding with the 50-day and 200-day SMAs, respectively.

As the TON price bulls aim for a new ATH, GameFi lovers are buying into the Mega Dice presale, a project that is set to be the first GambleFi project on the Solana blockchain.

99Bitcoins, a prominent crypto channel on YouTube, says that $DICE has the potential to surge 100X after launch.

Mega Dice Presale Blasts Past $1.4 Million – Next 100X Crypto?

Mega Dice (DICE) has been shaking up the crypto gaming landscape, having recently hurtled past $1.4 million in its presale.

$DICE presale has raised $1.4 Million 🚀

Current tier price: 0.075 💰
Current presale target: $2M 💰

We're implementing multiple tiered price increases, so make sure to secure your #DICE early! Don't forget, you can now utilize your $DICE directly in our Web and Telegram… pic.twitter.com/VAsI6u27aD

— Mega Dice Casino (@megadice) June 7, 2024

Mega Dice is a crypto platform that has over 11,000 users who lock in more than $50 million in bets every month. The platform also offers over 4,000 casino games to its users and over 50 sports and eSports betting options.

DICE is giving away $2.25 million via an airdrop carried out over three seasons. Currently in its second season, the platform has an opportunity for players to win a maximum airdrop of $37,500 each.

The $DICE Season 2 Airdrop is STILL LIVE – Earn Your Share of a $750,000 AIRDROP! 🚨💰

Want a piece of the action? Just wager $5000 or more between May 15 and 28 June, 2024, and you could claim your share of the $750,000 airdrop! 😍 With a maximum airdrop of $37,500 per player,… pic.twitter.com/YiFxEUucRx

— Mega Dice Casino (@megadice) May 31, 2024

To participate in the airdrop, all you need to do is wager $5,000 or more between May 15 and June 28 to have an opportunity to grab a portion of the second season’s $750,000 giveaway.

Token holders also also share in the casino’s profits on a daily basis through its unique staking system.

To join the presale, you can buy $DICE on the official website here for $0.075 per token using BNB, ETH, or SOL. But prospective buyers must act swiftly to secure the token at this rate before the price advances to the next stage of the presale. 

You can also earn 10% on any purchases made by investors you refer.

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Whales purchased 240,000 ETH during a price drop, spending $840M, showing strong faith in Ethereum’s future.

Ethereum-based apps make revenues similar to public companies, highlighting its move towards mainstream use.

Ethereum’s price is steady at around $3,650, with crucial support at $3,450 and the potential for a rise if it goes above $3,660.

Ethereum (ETH) is showing strength in the volatile crypto market, according to crypto analyst Ali. Large investors, known as whales, recently purchased over 240,000 ETH during a price dip. This significant purchase, valued at around $840 million, demonstrates strong confidence in Ethereum’s long-term value and its crucial role in the global crypto ecosystem.

Whales have bought over 240,000 $ETH during the recent #Ethereum price dip, totaling around $840 million! pic.twitter.com/j5jnxJul4q

— Ali (@ali_charts) June 12, 2024

Crypto applications built on the Ethereum blockchain are generating revenues comparable to those of several public companies. This highlights the innovation, resilience, and vision driving the global crypto industry. These applications are becoming integral to daily financial and digital activities, marking a significant milestone in the mainstream adoption of cryptocurrency.

Crypto analyst Crypto_Scient noted that Ethereum is currently consolidating around a crucial daily level of $3,650, a critical area for determining the next move. If Ethereum closes below $3,660 and consolidates, a drop toward the $3,200 support level may occur. Conversely, reclaiming and consolidating above $3,700 could signal a bullish trend, encouraging long positions.

$ETH , Got the correction I was looking for, but it wasn't as deep as I expected.ETH looks much better and bullish than BTC.• Holding and Bouncing from 12h 200MA.• Tapped the 1D FVG on this drop.We have local support around $3450, Consolidation above this level and we… https://t.co/M0FvCc39yw pic.twitter.com/Xs91adRer8

— Scient (@Crypto_Scient) June 12, 2024

The recent price correction has been less severe than anticipated, leaving Ethereum in a more favorable position than Bitcoin. Ethereum is holding and bouncing from its 12-hour 200 Moving Average (MA) and has tapped into the 1-day Fair Value Gap (FVG) on the recent drop. Local support has been established around $3,450. If consolidation continues above this level, a move toward $3,660 is likely in the coming days. A flip of the $3,660 level to support would confirm a bullish deviation, potentially attracting more long positions. Any dip towards the $3,500 to $3,450 range presents a scalping opportunity for traders.

As of the latest update, Ethereum’s price is $3,541.88, with a 24-hour trading volume of $14.73 billion. This represents a 0.25% increase in the past 24 hours but a 6.69% decline over the past seven days.

Whales’ accumulation of ETH during the price dip strongly indicates underlying confidence in Ethereum’s potential. Additionally, the ability of Ethereum-based applications to generate revenues on par with traditional public companies further solidifies their role in the evolving financial landscape.

The post Whales Go on Buying Spree, Snapping Up $840 Million in ETH appeared first on Coin Edition.