Bitcoin jumped above $65,000 one day after an uneventful halving.

The 4-hour chart showed that the loss of the $60,266 support could lead to a correction.

In the long term, the price of the coin might head toward $85,000.

Less than 24 hours after the 4th Bitcoin (BTC) halving took place, the price climbed above $65,000. The event took place on April 20 as miners’ rewards were cut from 6.25 BTC to 3.125 BTC.

It is important to note that this happened as Bitcoin produced block number 840,000. Before the event, market participants expected the halving to cause high volatility with prices swinging very high or very low.

However, that was not the case as BTC moved sideways between $63,000 and $64,000. But with the halving done and dusted, how will Bitcoin fare in the coming months? Here, Coin Edition analyzes the price to see if the cryptocurrency would hit the astronomical values many traders have set for it this cycle.

BTC/USD 4-Hour Analysis

Since facing rejection at $71,030, BTC has been moving between $60,000 and $68,000. However, there was solid support at $60,266 on the 4-hour chart,  A breakdown between this price could send Bitcoin correcting to much lower levels like $56,000.

However, the Relative Strength Index (RSI) suggested otherwise as the reading increased. The rise in the RSI was a signal that momentum was bullish and this could foreshadow a higher price in the short term.

BTC/USD 4-Hour Chart (Source: TradingView)

However, the Money Flow Index (MFI) turned downward after an earlier surge, indicating that increasing capital in the market has decreased. Should this remain the case going forward, BTC might find it hard to cross the $73,000 region.

BTC Daily Chart Analysis

Looking at the daily chart, it was evident that Bitcoin’s price could decrease further before it goes on a rally. At press time, the Moving Average Convergence Divergence (MACD) was negative, suggesting a bearish momentum.

Furthermore, the 26 EMA (orange) was above the 12 EMA (blue), indicating that sellers were in place to outpace buying dominance. This trend, if validated, could capitulate the price of the coin. 

Possible targets if this happens might be between $53,000 and $58,000. However, in the mid to long term, the price of Bitcoin is expected to surpass its all-time high. According to signals from the Fibonacci indicator, BTC might hit $73,246 after the correction is over.

BTC/USD Daily Chart (Source: TradingView)

This was where the 0.786 Fib level was positioned. Afterward, a surge in the $85,000 direction could be next for the coin. However, it remains uncertain if BTC will hit six figures before the year ends.

The post Bitcoin (BTC) Regains $65,000: What’s Next for the Coin Post-Halving? appeared first on Coin Edition.

Satoshi Nakamoto’s earlier collaborator, Martti Malmi, previously shared a 120-page email correspondence between the two.

Colin Wu highlights Nakamoto’s concerns over identifying Bitcoin as an investment.

The emails suggest that Nakamoto preferred not to promote anonymity.

Amidst controversies regarding the identity of Bitcoin’s pseudonymous founder, Satoshi Nakamoto, 120-page email correspondence between Nakamoto and his earlier collaborator, Martti Malmi, shed light on the early days of Bitcoin creation.

Recently, Chinese crypto journalist Colin Wu, on his official page known on X as Wu Blockchain, shared insights on the emails shared by Malmi earlier this year, initially produced as evidence against Craig Wright’s claim to be the original Bitcoin founder.

Satoshi Nakamoto’s first collaborator, sophomore Martti Malmi, disclosed his emails with Satoshi. Satoshi mentioned that there is no need to promote "anonymity" and Bitcoin as an investment. Bitcoin POW consumes less energy than the traditional banking system. POW is the only…

— Wu Blockchain (@WuBlockchain) April 21, 2024

As per Colin Wu’s X post, the conversation between Nakamoto and Malmi indicated Nakamoto’s concerns over identifying  Bitcoin as an investment. In a previous X post, Wu highlighted Nakamoto’s earlier warning against Bitcoin’s significant energy consumption. In addition, Nakamoto’s concern over “labeling Bitcoin as an investment” also gained traction at the time. His recent post further stated,

Bitcoin POW consumes less energy than the traditional banking system. POW is the only solution that can make a P2P electronic cash system work without a trusted third party.

Further, Wu pinpointed Nakamoto’s insistence on not promoting “anonymity.” Nakamoto’s email read,

I think we should de-emphasize the anonymous angle. With the popularity of bitcoin addresses instead of sending by IP, we can’t give the impression it’s automatically anonymous. It’s possible to be pseudonymous, but you have to be careful.

On February 23, Martti Malmi took to X to draw the community’s attention to the 2009-2011 email correspondence between Malmi and Nakamoto. He added that he wasn’t initially “comfortable” with making the emails public, but Wright’s trial has forced him to produce it as evidence.

My email correspondence with Satoshi in 2009-2011: https://t.co/jyoX8gXckp

— Martti Malmi (@marttimalmi) February 23, 2024

However, the emails do not stand as significant evidence to prove Satoshi Nakamoto’s real identity. But, the conversation could significantly provide insights into Bitcoin creator’s vision and concerns.

The post Satoshi Nakamoto Was Concerned Over Bitcoin as an Investment: Report  appeared first on Coin Edition.

FTX investors dropped claims against SBF for cooperation in pursuing celebrity promoters.

SBF will assist in targeting Tom Brady and Shaquille O’Neal, who are accused of promoting FTX.

The settlement is valued at $1.3 million and includes disclosing SBF’s assets and involvement in the Anthropic AI startup.

A group of investors and customers has reached a new agreement with the disgraced FTX co-founder Sam Bankman-Fried (SBF) to pursue celebrities and promoters. The deal entails dropping claims against Bankman-Fried in exchange for his cooperation against other defendants involved in the lawsuits of FTX’s downfall.

This settlement, subject to judicial approval, would absolve Bankman-Fried of civil liability. It comes just weeks after he received a 25-year prison sentence for fraud related to the misappropriation of billions of dollars from FTX. As part of the agreement filed in federal court in Miami, plaintiffs in the multi-district litigation have agreed to resolve all claims against him now and in the future.

Other FTX insiders have also agreed to settle and provide information to support the plaintiffs’ case. It includes former executives Gary Wang, Caroline Ellison, and Nishad Singh, who testified against Bankman-Fried. Meanwhile, the focus now shifts to celebrities, sports stars, and social media influencers who promoted FTX to investors and customers.

Bankman-Fried has agreed to assist plaintiffs’ attorneys in pursuing the remaining FTX endorsers. As part of the proposed settlement, SBF will provide all non-privileged documents disclosing his assets and stake in the artificial intelligence startup Anthropic. He will also reveal an affidavit affirming his negative net worth and documents regarding other defendants in the broad civil litigation.

Notably, the plaintiffs are targeting financiers and celebrity endorsers, including Tom Brady, Shaquille O’Neal, and Gisele Bundchen, for allegedly promoting FTX and enticing investors into what is claimed to be a Ponzi scheme. 

The settlements with promoters in this agreement are valued at approximately $1.3 million. Notably, the settlement includes football quarterback Trevor Lawrence, who received  $500,000 for endorsing FTX in 2022. 

The post FTX Bankman-Fried Strikes Deal to Pursue Celeb Promoters for $1.3M appeared first on Coin Edition.

XRP saw modest gains on Friday amid geopolitical strains in the Middle East.

The SEC vs Ripple case update also triggered a potential resurgence for XRP.

Ripple has until April 22 to file an opposition brief in ongoing litigation.

XRP saw modest gains on Friday amid geopolitical strains in the Middle East and updates in the case between the Securities and Exchange Commission (SEC). The embattled cryptocurrency rebounded from an early drop to close the day in profit. TradingView data reveal that XRP started the day at $0.50237, and dropped to $0.46700, before rebounding to close the day at $0.50358.

Notably, XRP’s initial slump on Friday followed the news of Israel retaliating against the Iran attack of April 13. However, Iran downplayed the missile attack, the result of which led to a calming market sentiment. 

Although many risk assets investors focused on the geopolitical tensions in the Middle East, the SEC vs Ripple case remained XRP’s most significant determining factor. There are three remaining filings before Judge Analisa Torres would give a final ruling on how much fine Ripple would pay for breaching U.S. Securities laws.

One of the remaining filings is Ripple’s opposition brief, which the court mandated the establishment to file by Monday, April 22, and a redacted version by April 24. The court expects Ripple’s opposition brief to address the allegations made by the SEC from the opening brief.

If Ripple succeeds in addressing the SEC’s claims, it could lead to a significant reduction in the penalties Ripple must pay. Hence, the coming days could be significant in the life of XRP, considering how long the case has lasted and the impact it has had on the crypto token’s development.

XRP continued to surge in the early hours of Saturday following relaxed geopolitical tension and a potential end in sight for its legal battles. The top altcoin traded for $0.51407 at the time of writing, gaining 2.17% from its opening price, according to data from TradingView.

The post XRP Surges Amid Middle East Tension and SEC vs Ripple Case Update appeared first on Coin Edition.

Michael Saylor called attention to the $8K price Bitcoin sold during 2020 halving.

In this year’s halving event, Bitcoin registered an intraday low of $59,651.

If Bitcoin replicates the 721% post-2020 rally in this cycle, it could reach $489K by next year.

Renowned Bitcoin bull Michael Saylor, chairman of MicroStrategy, has called attention to the price Bitcoin sold when it underwent its third halving cycle. In a recent post on X, Saylor highlighted that Bitcoin traded at $8,618 on May 11, 2020, when it halved. This spotlight comes amid Bitcoin undergoing its fourth halving cycle yesterday night, April 19.

$BTC was $8,618 on the day of the last #BitcoinHalving.

— Michael Saylor⚡️ (@saylor) April 19, 2024

Notably, Saylor sought to draw public attention to how high Bitcoin has grown since May 2020 amid the emergence of the new event to give investors confidence in the asset considering recent market bearish volatility.

As the Bitcoin bull rightly pointed out, Bitcoin opened for trading on May 11, four years ago, at $8,755.54. Despite dipping to a low of $8,374 that day, it subsequently surged to an intraday high of $9,033.

Meanwhile, Bitcoin remained below $10K in the months following the halving. It stayed within that range for five months until a burst in late October. By January 2021, eight months post-halving, BTC had surged threefold, breaching the $30,000 mark for the first time.

The upward momentum persisted as Bitcoin surpassed $60K by April 2021. However, it faced a downturn this month, returning to the $30K range in May, marking a year since the halving.

Significantly, from October 31, 2020, when BTC surpassed $14K again, to April 14, 2021, when it peaked at $64,863 before undergoing a substantial correction, the asset experienced a remarkable growth of 363%.

Upon recommencing the bull rally, Bitcoin peaked at $68,789 on November 10, 2021, marking a 721.46% surge from its low of $8,374 on the 2020 halving.

For this year,  Bitcoin registered an intraday low of $59,651 on April 19, coinciding with the 2024 halving event. Saylor’s emphasis on Bitcoin’s $8K range of 2020 implies his anticipation of a historical recurrence, where Bitcoin could potentially surpass several new highs following a halving event.

If Bitcoin replicates the 721.46% post-2020 rally in this cycle, it could reach a value exceeding $489K by next year.

The post Bitcoin Sold $8K Last Halving, Soared 721% After: Will History Repeat? appeared first on Coin Edition.

The MACD and RSI on the 4-hour chart suggested SHIB’s rise to $0.000027.

A weak directional movement could push DOGE to swing between $0.14 and $0.16.

XRP formed a golden cross, indicating a possible rise to $0.56.

Several cryptocurrencies experienced relief in the last 24 hours despite a week full of ups and downs. Out of the many that stabilized, Shiba Inu (SHIB), Dogecoin (DOGE), and Ripple (XRP) were part.

However, it is expected that the broader market will experience a high level of volatility in the coming weeks. Will these cryptocurrencies survive the expected fluctuations? Let’s find out in this analysis.

Shiba Inu (SHIB)

At press time, SHIB was finding it difficult to rise beyond $0.000023.This was because bears had found a way to halt its earlier rising momentum. But press time data from the Relative Strength Index (RSI) showed that bulls were not having it as the buying momentum continued to increase.

If bulls take bears out of the way, the rise in momentum could key SHIB toward the $0.000027 resistance. On the other hand, an unsuccessful attempt might drive the token down to $0.000020.

SHIB/USD 4-Hour Chart (Source: TradingView)

Meanwhile, the Moving Average Convergence Divergence (MACD) crossed above the zero midpoint, reinforcing the signals shown by the RSI.

Dogecoin (DOGE)

DOGE changed hands at $0.15 according to the 4-hour chart. Like SHIB, DOGE has not been able to break out after its recent downturn.

However, the coin’s structure differed from the other meme coin with indications shown by the Elder Force Index (EFI). As of this writing, the EFI has flatlined, confirming that Dogecoin’s price might evade a notable increase in the short-term

DOGE/USD 4-Hour Chart (Source: TradingView)

Should this be the case, the price of the cryptocurrency might swing between $0.14 and $0.16. Furthermore, the Directional Movement Index (DMI) aligned with the viewpoint as the +DMI (green) remained below the -DMI (red).

Ripple (XRP)

As of this writing, the Exponential Moving Average (EMA) on the 4-hour chart displayed a bullish bias for XRP. Previously, the 9 EMA (blue) crossed below the 20 EMA yellow). But on April 19, that position changed as the EMAs formed a golden cross.

XRP/USD 4-Hour Chart (Source: TradingView)

This flipping was vital to the token’s price action which was XRP rise to $0.51. Despite the trend, XRP risked a possible decline as the price was still close to both EMAs. Should the price fall below the 9 and 20 EMA, the value could drop as low as $0.46.

But a further extension could drag XRP higher, and an increase toward $0.56 could be an option within a few days.

The post Crypto Price Analysis- April 20: SHIB, DOGE, and XRP appeared first on Coin Edition.

Runes minting dominated the initial phase of reactions following the recently completed Bitcoin halving.

The novel protocol attracted 78.6 BTC in fees just nine blocks after the Bitcoin halving.

Runes creator, Rodamor, minted the first project on the protocol, UNCOMMON•GOODS.

Runes minting has dominated the initial phase of reactions following the recently completed Bitcoin halving. According to reports, the novel protocol on the Bitcoin network attracted 78.6 BTC in fees, equivalent to $4.95 million just nine blocks after the Bitcoin halving.

As a relatively new creation in the crypto space, Runes is similar to Ordinals, allowing people to “etch” and mint tokens on-chain. It is the brainchild of Casey Rodamor, the creator of Ordinals. The difference between both protocols is that Ordinals are non-fungible, while Runes will function more like memecoins.

With the timely explosion of Runes and how it exploded into the Bitcoin ecosystem, many crypto users already think it could become a boon to Bitcoin’s burgeoning fee economy. Most of such users already discussed which Runes to mint and trading ticker names before mining the halving block. They carried out the discussion in an X space hosted by Leonidas, a well-known Ordinals collector.

Runes creator Rodamor minted the first project on the protocol, UNCOMMON•GOODS. Like many other projects looking to etch themselves on the novel protocol, Rodamor announced the UNCOMMON•GOODS project long before the completion of the Bitcoin halving. Hence, even before the landmark halving took place, Runes’ awareness skyrocketed and perhaps led to the extraordinary results experienced shortly after the Bitcoin halving.

Notably, Runes’ arrival into the crypto space coincides with the growing awareness and unprecedented adoption of memecoins. Such a development has led to increased competition for scarce Satoshis among intending projects wanting to mint on the Runes protocol. 

Crypto community members anticipate that users will mint more Runes over time. One highly anticipated project is Taproot Wizards, the Ordinals project co-created by Bitcoin OG influencers Eric Wall and Udi Wertheimer. Users also look forward to the creation of Satoshi Nakamoto, named after Bitcoin’s creator.

The post Runes Minting Dominates Initial Bitcoin Halving Fallouts appeared first on Coin Edition.

WIF was overbought, indicating that the price might drop below $2.70.

With increasing volatility, the price of ICP could rise to $15 in the short term.

ADA might retrace as the short-term EMAs suggested a bearish trend.

After the completion of the 4th Bitcoin (BTC) halving, the price of several cryptocurrencies spiked. However, there were a few that made double-digit increases in the last 24 hours. These include dogwifhat (WIF), whose value jumped by 11.83%, Internet Computer (ICP) which recorded a 14.48% increase, and Cardano (ADA) with a 10.55% rise.

However, it remains uncertain if these tokens would be able to sustain the hike. Here, Coin Edition looks at the possibility and how their respective prices might fare over the weekend and the coming days.

dogwifhat (WIF)

At press time, WIF changed hands at $.2.83. From the 4-hour chart, the price had initially dropped to $2.28 on April 18. But bulls found support at the same spot and helped the meme coin rally even though there was resistance at $2.70.

Meanwhile, the Relative Strength Index (RSI) which faced the upside earlier had turned down. This was a sign that WIF’s momentum was losing its bullish strength. Hence, a decline could be next. If this is the case, the price of WIF could fall below $2.70 again. 

However, if bulls return to save the situation, the meme coin might target $3 next. This could be validated considering that the Money Flow Index (MFI) reading increased. But if the MFI hits a reading of 80.00, the token might be overbought, and WIF might retrace further.

WIF/USD 4-Hour Chart (Source: TradingView) Internet Computer (ICP) 

The ICP/USD 4-hour chart displayed a downtrend from April 8 to 18. However, it seemed that sellers got exhausted moments after the price hit $11.87. Thereafter, the direction reversed to the upside.

At press time, ICP changed hands at $14.48. Furthermore, the Bollinger Bands (BB) expanded, indicating increasing volatility around the token. However, the upper band of the BB tapped ICP above $14, indicating that the token was overbought.

As such, a potential decline could be imminent. The RSI reading was close to 70.00, reinforcing the BB indications. While ICP’s price has the potential to hit $15, a retest of $13.14 could also be possible.

ICP/USD 4-Hour Chart (Source: TradingView) Cardano (ADA)

ADA bounced off the $0.44 support and broke the $0.47 resistance as its price almost hit the $0.50 psychological zone. If ADA hits $0.50, it could rally to $0.56. However, an overhead resistance at $0.51 might hinder the potential.

ADA/USD 4-Hour Chart (Source: TradingView)

In the meantime, the 20 EMA  was below the 50 EMA on the charts. This indicates that ADA’s uptrend might not last. Furthermore, the fact that 50 EMA was also ahead of the 100 EMA suggested a bearish performance in the coming weeks. Hence, traders might need to watch out.

The post WIF, ICP, ADA Price Analysis as Bitcoin Completes 4th Halving appeared first on Coin Edition.

Bitcoin’s fourth halving event slashes miner rewards from 6.25 to 3.125 BTC per block.

Industry experts are divided on the long-term impact, with projections suggesting potential new highs of $250K.

The reduction in block rewards aims to decrease the Bitcoin supply, which currently stands at 19.6 million. 

On Friday night, the Bitcoin network implemented its fourth halving event, reducing the incentives for miners by half. Specifically, as of April 18, miners earned 6.25 BTC tokens, equivalent to about $400,000, to validate a block of transactions. Following yesterday’s halving, miners now earn 3.125 BTC.

This event occurs approximately every four years, as the Bitcoin code dictates. The aim is to moderate the issuance of Bitcoins and foster scarcity. Industry pundits are divided over the implications of this year’s halving on Bitcoin’s long-term value. 

JPMorgan anticipates a potential downside for Bitcoin following the halving, while Deutsche Bank suggests limited expectations for price escalation. Nonetheless, the actual ramifications may unfold in the months ahead. Emphatically, the price of Bitcoin has historically clinched multiple new all-time highs following a halving event. 

For instance, after the first halving cycle, Bitcoin saw a staggering 9,300% gain in value, rallying from about $12.5 to $1,163 a year later. Also, a similar trend repeated in the second and third cycles, as illustrated in the image below.

Popular projections from industry pundits suggest Bitcoin could set a new high at $250K for this fourth cycle. However, considering BTC rallied by about 700% in the third cycle, a repeat of this history suggests a potential $500K per Bitcoin.

Notably, the mining reward of 3.125 BTC now equates to approximately $200,000 as of Friday evening. The mining rewards were 50 Bitcoins at inception, though it wielded a monetary value of about $625. 

The reduction in block rewards decreases the supply of Bitcoin by slowing down the creation of new coins. As stipulated in the Bitcoin code, the total number of Bitcoins in circulation is set to max out at 21 million, with approximately 19.6 million already in circulation today.

The post What’s Next for Bitcoin Price as it Officially Completes the 2024 Halving? appeared first on Coin Edition.

Bitcoin halving was completed late on Friday, April 19, 2024.

The average revenue per Bitcoin block reached 21.74 BTC shortly after the halving event.

The average transaction fee reward per block rose as high as 18.62 BTC from block 840,000 to 840,014.

The much-anticipated Bitcoin halving was completed late on Friday, April 19, 2024. Early reactions followed the landmark event, including changes in the average block revenue and fee reward on the Bitcoin network. 

In a recent post on X, renowned Chinese crypto journalist Colin Wu highlighted visible changes since the Bitcoin halving completed at block height 840,000. According to Wu, data from OKLink revealed that due to Runes minting, the average revenue per block on the Bitcoin network reached 21.74 BTC.

According to OKLink, due to rune minting, in the 15 blocks since the Bitcoin block height 840000 completed the halving to 840014, the average revenue per block has reached 21.74 BTC, of which the average transaction fee reward per block is as high as 18.62 BTC.…

— Wu Blockchain (@WuBlockchain) April 20, 2024

Wu’s report comprised revenue for the 15 blocks, including blocks 840,000 to 840,014 since the Bitcoin halving’s completion. He further noted that the average transaction fee reward per block rose as high as 18.62 BTC.

It is essential to note that the changes highlighted by Wu are the initial fallouts from the Bitcoin halving event. With the expiry of the countdown and the event’s completion, Bitcoin achieved its fourth halving since its creation in 2009. Following the event, the crypto community will focus on the resulting impact, especially how the price of Bitcoin and other cryptocurrencies will develop.

Notably, previous Bitcoin halvings led to parabolic rallies in the Bitcoin and altcoins market. The rallies resulted in new all-time highs in the price of Bitcoin and many other cryptocurrencies. Over the years, the Bitcoin halving became a landmark event that kickstarted the bull cycle, injecting significant volatility into the crypto market.

Wu’s observation marks the early impact of the recently completed Bitcoin halving, with the crypto community looking out for more reactions. However, the landmark event’s constant result is the block rewards reduction for Bitcoin miners. With the recent Bitcoin halving, miners will receive 3.125 BTC in block rewards against the previous 6.25 BTC reward before the event.

The post Bitcoin Halving Impact: Average Revenue Jumps to 21.74 BTC appeared first on Coin Edition.

TON Blockchain’s TVL surges to $450 million, driven by platforms like STON.Fi and Tonstakers.

Telegram’s founder Pavel Durov’s initiative to allocate 50% of advertising revenue boosts Toncoin’s performance.

Memelandia hub launched by Open Network enhances the Ton ecosystem.

TON Blockchain, a rapidly growing player in the cryptocurrency industry, has seen a boost in its TVL (Total Value Locked). Based on insights from CryptoRank.io, TON’s chain boasts a TVL of $450 million from various projects within the Ton ecosystem.

Per the same data, platforms like STON.Fi and Tonstakers hold substantial portions of the TVL, with $84 million and $200 million locked, respectively. Bemo comes third with a $72 million TVL, and lending platform EVAA Protocol comes last with a $1.7 million TVL.

Moreover, platforms such as Hipo, DeDust, and Megaton Finance contribute to Ton’s ecosystem, adding significant value. The privacy solution platform Tonnel Network has also contributed $2.3 million to the TVL, which is 0.5% of the total value.

TON Blockchain’s recent TVL surge has propelled it to the 8th largest cryptocurrency by market capitalization. This achievement is partly attributed to Telegram founder Pavel Durov’s unveiling plans to allocate 50% of advertising revenue to channel owners. Durov stated that this move is to reward Telegram broadcast channel hosting and improve wider token adoption.

Since the launch of this initiative, Toncoin has gained significantly, reaching new all-time highs. On a month-to-date basis, TON has increased by 61%, trading around $6.25 at press time. In tandem, the coin’s market cap hit a record high, overtaking Cardano (ADA) as the ninth-largest coin in the crypto market.

Furthermore, the launch of the Memelandia hub by the Open Network blockchain team marks another milestone for Ton Blockchain, aimed at supporting and promoting new meme coins. Memelandia will provide real-time data on metrics such as TVL and user engagement, enhancing accessibility within the Ton ecosystem. 

In another strategic move, the Tether stablecoin operator has improved ties with Telegram’s Web3 ecosystem by launching Tether USDT on the Open Network. On April 19, Tether Operations announced the launch of its U.S. dollar-pegged Tether USDT stablecoin and the gold-pegged Tether Gold (XAUT) stablecoin on the TON blockchain.

Reacting to this news, Tether CEO Paolo Ardoino commented: “We’re excited to bring USD₮ and XAU₮ to The Open Network because we support its vision of an open and decentralized internet and a borderless financial system.”

The post TON Blockchain’s TVL Surges to $450 Million, Ranks Top 8 appeared first on Coin Edition.

Cardano outperforms Bitcoin by 200% over four years, showcasing significant market resilience.

ADA is recognized as 2024’s best layer one solution, highlighting its technological advancements.

Despite short-term underperformance, experts remain optimistic about ADA’s long-term growth prospects.

In a video analysis by crypto analyst Dan Gambardello, the crypto community gets an insightful update on Cardano (ADA) and its position in the cryptocurrency space. Despite a period of price stagnation, with ADA’s value hovering around 45 cents from December to the current pricing at $0.463275, Cardano showcases a foundation for potential growth. This scenario plays out in contrast to Bitcoin’s price surge during the same timeframe, stirring a mix of optimism and patience among ADA holders.

Over the past four years, Cardano has seen an 800% rise since the last Bitcoin halving, surpassing Bitcoin by 200%, according to Dan. This shows Cardano’s strength in the cryptocurrency market.

In 2024, Cardano was named the top layer one solution, indicating its technological progress and active community. The upcoming Valour project is expected to introduce a novel governance model, potentially transforming blockchain functionality.

CARDANO On EDGE! Urgent Move ADA Must Make For Comeback!Intro 00:00ADA holders frustrated 00:15Cardano price and Bitcoin 1:00Big Cardano win! 2:00Cardano is extremely unique 3:15Cardano price and charts 5:50Downside target 9:20ADA reversal clues to watch for 12:00 pic.twitter.com/j5ptEIqBMW

— Dan Gambardello (@cryptorecruitr) April 19, 2024

However, the technical analysis reveals a divergence from expected bullish patterns, particularly when juxtaposed with Bitcoin’s market movements. Despite ADA’s short-term underperformance, the long-term outlook remains promising. Dan suggests keeping an eye on key indicators, such as ADA’s position relative to moving averages and the momentum oscillator on the RSI, for signs of a market reversal.

Current market dynamics, influenced by geopolitical tensions, have instilled a sense of fear among investors, affecting ADA and the broader crypto market. Nevertheless, these dips are viewed not merely as setbacks but as opportunities for strategic investments. Looking forward, the anticipation builds for an “altcoin season” post-Bitcoin halving, with ADA expected to regain momentum and solidify its market position.

Despite the frustrations stemming from ADA’s recent price performance, Cardano’s underlying strengths—bolstered by technological advancements, community support, and strategic governance models—map out a bullish long-term scenario.

Dan advises on patience and a strategic investment approach, as well as a keen eye on market indicators and geopolitical developments. The journey ahead for ADA, as detailed in Garmabadello’s analysis, is filled with potential, urging investors to envision the broader horizon of growth and innovation in the cryptocurrency space.

The post Cardano’s 800% Rise Since Bitcoin Halving: Analyst’s Insights appeared first on Coin Edition.

Leading Solana meme coins gained an additional $8.32B market cap in Q1 2024.

The figure marked an 801.5% growth, ending Q1 with $9.36 billion market cap. 

Whale Insider argued WIF and BOME could still rally 10,000% in the bull market.

Market tracker CoinGecko unveiled a new report capturing the performance of Solana-based meme coins in the first quarter of the year. According to the report, the top ten meme coins on Solana gained an additional market share of $8.32 billion. The figure marked a staggering growth of 801.5% as the meme coins ended Q1 with a total market cap of $9.36 billion. 

Interestingly, only BONK and Samoyedcoin (SAMO) existed before 2023 Q4. Following BONK’s success, a trove of newcomers later emerged. Meanwhile, in March, BONK, the premier meme coin on Solana, was outranked by the newcomer Dogwifhat (WIF). 

WIF knocked out BONK following a consistent uptrend since late December 2023. It attained an all-time high of $4.85 on March 31 from its all-time low of $0.0677, marking a staggering 7,063% gain in under three months. While WIF rallied, it also knocked out other leading contenders in the meme coins space, like FLOKI and PEPE. Now, WIF stands right behind only Shiba Inu and Dogecoin.

Furthermore, the CoinGecko report highlighted that Book Of Memes (BOME), launched on March 14, attained a $1 billion cap within two days. Notably, BOME’s ascent was also influenced by the pivotal listing it secured on Binance, the most prominent crypto trading platform.

Meanwhile, after the frenzy that has followed Solana meme coins, the tokens have witnessed major setbacks amid Bitcoin’s pullback. For instance, WIF retains a substantial 15% loss in its one-week trajectory despite soaring by 20% in the last 24 hours. BONK and BOME have suffered losses of 31.61% and 22.64% over the past week, respectively.

Nonetheless, market participants remain optimistic about meme coins in the Solana ecosystem. X user Whale Insider has argued that WIF, BOME, and a trove of other Solana coins could transform a $1,000 investment into a $100K fortune. This outlook suggests a potential 10,000% ROI from Solana meme coins in this bull market.

The post Solana Meme Coins See $8.32B Top Up: Will BOME, WIF Soar 100X Next? appeared first on Coin Edition.

He Yi is confident of Changpeng Zhao’s situation ahead of sentencing in the United States.

According to Yi, Zhao’s current standing in the U.S. is “largely peaceful.

Zhao will be sentenced for failing to maintain an effective AML program at Binance.

Binance co-founder He Yi is confident of the former company’s CEO, Changpeng Zhao’s situation ahead of sentencing in the United States. Yi dispelled concerns over Zhao’s regulatory status during the Binance Chinese Meetup held in Dubai.

In a recent report, the Binance website cited that Yi elaborated that Zhao’s current standing in the U.S. is “largely peaceful, and past regulatory pressures have been internally anticipated.” The report also noted that she believes the current situation is the most optimal outcome given the circumstances.

Yi’s declaration of confidence comes a few days before the scheduled sentencing of Zhao in the U.S. after he admitted guilt to a felony charge. Following his plea agreement, the United States District Court for the Western District of Washington under Judge Richard Jones will conduct a hearing involving statements from the prosecution and Zhao’s defense team. 

Zhao’s case revolves around his admittance to a single charge of failing to maintain an effective Anti-Money Laundering (AML) program at Binance. He stepped down as Binance CEO as part of the plea agreement. He also agreed, in partnership with the cryptocurrency exchange, to pay $4.3 billion in settlement to resolve civil regulatory enforcement actions in the United States. That excludes any legal action by the Securities and Exchange Commission (SEC).

According to U.S. sentencing guidelines, Judge Jones can issue a lengthy jail term of up to 10 years to Zhao. However, the guideline range for his offense is between 12 to 18 months. Several observers believe the former Binance CEO could avoid jail term altogether, considering his cooperative stance on the issue and his guilty plea.

Last month, the court ordered Zhao to submit his Canadian passport to the authorities and remain within the borders of the U.S. until after his sentencing.

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Bitcoin and Ether plunged amid reports of an Israeli strike on Iran.

Asian stock markets followed suit, with indices like Hang Seng, Nikkei 225, and TAIEX.

A whale investor quickly responded, purchasing 3,253 ETH.

In the early hours of Friday, a whale investor in the cryptocurrency market swiftly acted in response to the news of geopolitical tensions between Israel and Iran. 

According to data from Spotonchain, an on-chain data provider, a whale buyer invested $9.516 million USDT to purchase 3,253 ETH at approximately $2,925, strategically timing the purchase around the local bottom. This move resulted in the whale accumulating unrealized profits of $625K, marking a 6.57% increase.

Several digital assets experienced a market downturn on Friday following reports of an Israeli missile strike on Iran. Earlier that day, Bitcoin hit a 5.5% dip, trading at $59,961, while Ether dropped below the $3,000 mark to $2,895. Meanwhile, Ether, another major digital asset, dropped below the $3,000 mark to $2,895. 

Asian stock markets also recorded significant declines, with major indices reflecting negative trends. The Hang Seng index in Hong Kong dropped by 3.5%, while Japan’s Nikkei 225 experienced a decline of 6.5%. Similarly, Taiwan’s TAIEX saw a downturn of 5%. 

U.S. stock futures followed suit, indicating a downward trend as MarketWatch reported an increase in crude oil prices during this period. This decline aligned with the broader flight from cryptocurrencies as investors sought safety in traditional assets such as oil, gold, and bonds.

As reported by Reuters, The Israeli attack on Iranian soil was in response to a prior drone strike by Iran on Israel. While initial reports of explosions in Iran rattled markets, subsequent clarification from Iranian sources attributed these explosions to air defense systems rather than direct attacks.

Moh Siong Sim, a currency strategist at the Bank of Singapore, opined that the current market stage is a “flight to safety” mode due to the uncertainty surrounding the geopolitical tension. “I think markets are at this stage in a flight to safety mode,” Sim stated. He further voiced, “Right now, we’re still in a situation where we know something has happened. But we need to understand the degree of the degree of retaliation.”

Despite the initial sell-off, Bitcoin partially recovered to $62,300 later today, registering a 2% decline. Ether also bounced back above the $3,000 level, signaling some stabilization in the cryptocurrency market following the initial shock. The decline in Bitcoin coincided with the anticipated “halving” event, a scheduled adjustment to reduce the rate of new Bitcoin creation. 

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Nick has highlighted some of Cardano’s (ADA) challenges following its recent price trend.

The renowned crypto analyst predicted ADA’s next target to be between $0.3574 and $0.3832.

According to Nick, ADA faces significant bearish pressure without any signs of immediate recovery.

The Cheeky Crypto YouTube channel host Nick has highlighted some of Cardano’s (ADA) challenges following its recent price trend. According to Nick, technical analysis shows that ADA faces significant bearish pressure without any signs of immediate recovery.

In a recently uploaded video, Nick revealed that ADA’s price dropped by 50% in one month, leaving users worried about the future of the Layer-1 blockchain token. The drop happened between March 14 and April 13, when ADA fell from $0.810 to $0.401.

Meanwhile, Nick highlighted that the drop reflected a bearish pattern, making it difficult for users to expect a recovery soon. The renowned crypto analyst noted how ADA achieved a series of lower highs and lower lows to form a classic bearish pattern. He also noted the absence of an overlapping candlestick on Cardano’s daily chart, emphasizing why the trend remains bearish for the top altcoin.

On further examination, Nick used the Elliott Waves to show that ADA could drop lower. According to him, pushing the 1.618 Fibonacci level would confirm that ADA’s current pullback is not just a retracement but a change in direction, leading to a bearish trend.

With the developing downtrend, Nick predicted ADA’s next target to be between $0.3574 and $0.3832. According to him, that would mark the fulfillment of the downward 5-Wave move, as indicated by the Elliott Wave. At that point, ADA’s price would fall below the 1.618 Fibonacci level, exposing a more established downtrend with increased bearish pressure.

Nick’s analysis presents significantly low targets for ADA, suggesting substantial losses for the altcoin holders. However, he considers the altcoin’s dropping price as an opportunity for users to accumulate the crypto token and build bigger positions ahead of imminent reversal to the upside.

ADA traded for $0.442 at the time of writing, according to data from TradingView.

The post Cardano Faces Bearish Pressure That May Continue for Long – Analyst appeared first on Coin Edition.

Armando Pantoja has predicted a target above $0.001 for SHIB.

Pantoja predicts Bitcoin to trade between $100,000 and $250,000 in the upcoming bull cycle.

The investor also thinks Ethereum will trade between $10,000 and $15,000 in the upcoming bull cycle.

Armando Pantoja, a famous cryptocurrency investor on X, has predicted a target above $0.001 for SHIB, the Shiba Inu ecosystem native token. In a recent post, Pantoja highlighted several cryptocurrencies he expects to rally, predicting the price range he expects each to reach.

My #crypto targets for next 12-18 months:$BTC : $100k-$250k$ETH : $10k-$15k$XRP: $3-$6$SHIB : $0.001+$DOGE: $1$SOL: $500-$1000$AVAX: $100+$ICP: $100+$INJ: $100-$200$PRO: $10-$20

— Armando Pantoja (@_TallGuyTycoon) April 16, 2024

Pantoja’s list contained Bitcoin, the flagship cryptocurrency that has achieved a new all-time high (ATH) even before the next halving event. The renowned investor predicts Bitcoin to trade between $100,000 and $250,000 in the upcoming bull cycle. 

Meanwhile, Bitcoin showed significant bullish sentiment following the Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin ETF in January. BTC posted a strong rally that pushed its price to a new ATH of $73,794 before going into consolidation. Many users believe the pioneer cryptocurrency will resume its upward movement after the Bitcoin halving.

Besides SHIB and Bitcoin, Pantoja cited other top cryptocurrencies that he expects to push higher during the next bull cycle. He thinks the flagship altcoin, Ethereum, will climb above $10,000 for the first time. According to the investor, Ethereum will trade between $10,000 and $15,000 in the upcoming bull cycle.

Pantoja believes Ethereum’s rally will pull other altcoins along, with XRP breaking its shackles and rallying above $3. For Pantoja, $3 will represent the lower range for XRP in the upcoming bull run, as the embattled crypto token could climb to $6 at the peak of its rally.

The renowned investor predicted that DOGE will rally to $1, SOL will climb above $500, possibly reaching $1,000, and AVAX will climb above $100. He also predicted that ICP would push above $100, INJ would trade between $100 and $200, and PRO would trade between $10 to $20. 

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Neuner noted that investors decide on cryptos based on resilience and relative price.

Ben Armstrong and Ran Neuner think ONDO, TON, and TIA are set for significant rallies.

The analyst thinks TIA is a cheap quality token, considering how low it has dropped from the ATH.

Renowned cryptocurrency analyst Ben Armstrong has highlighted some cryptos, that Ran Neuner, the Crypto Banter host, thinks will perform well in the upcoming bull run. Armstrong offered his opinion on the identified cryptos, noting why he supports Neuner’s predictions in a recently uploaded video.

Armstrong began his analysis with Ondo, the native token of Ondo Finance, a Coinbase-backed securities tokenization project. Ondo is one of the cryptos Neuner picked on April 16 as a potential target. He emphasized the crypto token’s relative strength and recent price behavior, noting them as elements of a bullish outlook.

In his analysis, Neuner clarified that crypto investors make decisions based on two factors. According to him, they decide which token to buy based on how quickly the tokens recover from pullbacks, indicating relative strength, or based on how cheap the tokens are. He thinks the cheaper tokens have more room to recover. Hence, they could potentially offer significant profit to investors.

Neuner identified TON as another crypto token with significant upside potential. He showed in his analysis that TON is resilient, dropping only 30% during a recent pullback before recovering. He revealed that TON is only down 9% from an overall perspective amid the crypto market pullback.

For his third pick, Neuner picked TIA, the native cryptocurrency of the Celestia blockchain. He elaborated on the token’s 65% drop from all-time highs (ATH), using it as a positive element for future rallies. According to Neuner, TIA is a cheap quality token, considering how low it has dropped from the ATH. 

Armstrong supported Neuner’s analysis on TIA, noting that the crypto token has hit a local bottom and could be on the verge of a significant rally. Hence, both analysts agree on the identified tokens and the basis of their potential strength. They could either be resilient or cheap to present profitable opportunities for investors.

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Arthur Hayes termed Solana TPS “bullshit,” sparking a debate.

The huge number of spammers causes significant transaction failures.

Trader Dan Smith noted that the Solana blockchain has an abundance of spam.

Solana (SOL) blockchain has a problem with spam transactions, claims a trader and investor in digital assets, Dan Smith. In a series of X posts, the crypto enthusiast explained how spammers boost the number of failed transactions on the blockchain network. 

Smith explained that an average “real user” of the Solana blockchain sends under 50 transactions per day with a failure rate of 8%, resulting in the failure of 1 transaction in every 10 transactions. 

The X post explained that 97% of addresses fall into the “real user” group, and are collectively responsible for 0.6% of total failed transactions. Smith added:

“Any address that sends over 5,000 txs per day is clearly a bot. Yesterday, there were 879 addresses that hit this mark, and they created 95% of the total failed transactions with a failure rate of 79%.”

Smith noted that due to the significant number of spam transactions, 0.1% of the addresses were responsible for 95% of the failed transactions, concluding that Solana has an “abundance of spam” problem.

The conversation began with Arthur Hayes, co-founder of the BitMEX exchange, stating that the huge number of meme coins has destroyed Solana. Hayes added that 75% of transactions have started to fail on the blockchain because investors have started trading these meme coins heavily, terming Solana’s TPS “bullshit.”

Smith noted that from a “real user” metric, Solana TPS might be “bullshit,” but it is crucial to note that despite the rate of failed transactions being high, validators still have to use resources on these transactions, which paints a stronger picture for Solana TPS from a technical perspective.

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The wallet also moved 2,010 ETH worth $6.1M and JOE tokens worth $3.25M.

FTX treasury wallet moved 195.87M FTT valued at $246.8M to a new destination.

These transactions came amid the recent relief rally in the crypto market, with Bitcoin regaining $64K.

A wallet affiliated with bankrupt exchange FTX has been spotted migrating crypto funds to a new destination, largely the platform’s native token, FTX. Lookonchain, a crypto surveillance account on X, called attention to this latest move from FTX in an update.

6 hours ago, FTX: FTT Treasury transferred all assets to a new wallet, including:195.87M $FTT ($246.8M)1,938 $ETH($5.94M)6.36M $JOE($3.25M)Address:0x2a4F8d77bAde18256b1BDB3cF8782645037f60d3 pic.twitter.com/vJXmYsC2Ek

— Lookonchain (@lookonchain) April 19, 2024

Per the revelation, FTX’s treasury wallet transferred all assets to a new wallet in multiple transactions within the last 24 hours. Of the moving tokens, FTT wields the most staggering dollar sum. Specifically, the wallet transferred 195.87 million FTT coins valued at $246.8 million. 

Other transactions from the FTX treasury wallet valued in millions of dollars included Ethereum and JOE tokens. In particular, the wallet’s most recent movements of ETH were cumulatively 2,010.6 tokens worth $6,176,563. As for the JOE token, the FTX wallet sent out 6.359 million units worth $3.25 million.

Other tokens transferred off FTX’s treasury included USDT stablecoins worth $201.83K, MAGIC tokens worth $680.94K, and GMX tokens worth $140.25K. Cumulatively, FTX has recently sent out about $253,999,583.

Interestingly, these transactions emerged amid the recent relief rally in the crypto market, wherein Bitcoin regained the $64K mark, slightly boosting the values of other tokens. According to CoinMarketCap data, FTT is up 2.79% in its 24-hour trajectory at press time. Similarly, ETH has seen a 4% gain. JOE witnessed a more substantial gain of 6% at press time.

X user Shawn speculated that FTX divided FTT, ETH, and JOE into smaller pieces for easy liquidation. Notably, this is not the first time FTX has moved out funds during periods of market gains. Late last year and earlier this year, the bankrupt exchange was similarly spotted moving out Solana (SOL) tokens while the asset was in an uptrend.

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