Binance is adding the token of a Solana (SOL)-powered decentralized artificial intelligence (AI) computing network to the roster of supported crypto assets on its Launchpool platform. In a statement, the world’s largest crypto exchange says that io.net (IO) will be the 55th crypto project on Binance Launchpool, which allows users to deposit their coins into […]
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A closely followed crypto analyst believes that one red-hot Dogecoin (DOGE) rival is gearing up for more massive gains. Pseudonymous trader Kaleo tells his 641,600 followers on the social media platform X that Floki (FLOKI)’s market cap could soar to at least $10 billion, more than 3x the current value. The analyst says Floki could […]
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A widely followed cryptocurrency analyst and trader believes that a top-10 altcoin by market cap is destined to rally by double-digit percentage points from the current level. The analyst pseudonymously known as Bluntz tells his 260,900 followers on the social media platform X that BNB, the utility token for the BNB Chain ecosystem, is set […]
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A widely followed crypto analyst believes one top-10 altcoin by market capitalization could soon hit new all-time highs (ATHs). Pseudonymous crypto trader Altcoin Sherpa tells his 216,700 followers on the social media platform X that BNB, the native token of the BNB Chain, continues to have a strong market structure. “BNB: slow and steady wins […]
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Binance Coin (BNB) has reached a new all-time high (ATH) of $708 at the time of writing, following a 12% increase in price. BNB is the native cryptocurrency of the Binance platform, one of the largest and most popular cryptocurrency exchanges in the world. It was launched in July 2017 and is used for various […]
Bitcoin and select altcoins are attempting to break above their respective resistance levels, signaling aggressive buying by the bulls.
Bitcoin (BTC) bounced off its firm support, and the bulls are trying to push the price above the psychologically crucial level of $70,000. Several analysts believe the consolidation will resolve to the upside, and Bitcoin will rise to a new all-time high.
Veteran trader Peter Brandt said in a report that Bitcoin's halving date historically falls in the middle of the bull cycle. In 2020, the bull market started 16 months before the halving and topped out 18 months after the event. If Bitcoin follows a similar pattern, Brandt expects the cycle top to be “in the $130,000 to $150,000 range.”
Not only Bitcoin but even Ether (ETH) could surprise to the upside. According to CryptoQuant data, traders have withdrawn nearly 797,000 Ether between May 23 and June 2. Analysts expect Ether to witness a supply squeeze and hit a new all-time high after Ether exchange-traded funds start trading.
Bitcoin price action could remain sideways for longer, but BNB, AR, XMR, and TIA may see some short-term gains.
Bitcoin (BTC) is facing resistance above the psychological barrier at $70,000, but a positive sign is that the bulls have not ceded much ground to the bears. Bitcoin is down marginally by just under one percent this week.
Bitcoin’s range-bound action over the past few days has not hampered investments into the spot Bitcoin exchange-traded funds. Farside Investors data shows more than $2.1 billion in net inflows into the Bitcoin ETFs since May 14. This suggests that the investors are accumulating Bitcoin, anticipating a breakout to the upside.
Veteran trader Peter Brandt is bullish on Bitcoin in relation to gold in the long term. In a post on X, Brandt said that the ratio of gold to Bitcoin is likely to remain volatile for another 12-18 months, but after that, the rally could hit a new high where 100 ounces of gold is needed to buy one Bitcoin. Currently, each Bitcoin is worth about 29 ounces of gold.
SOL price rallied 5% today, but on-chain data raises doubts about whether Solana can overcome the barrier at $190.
Solana's native token, SOL (SOL), experienced a 5% increase on May 27, trading up from $161 on May 26 to $171. This rise fueled investors' hopes for continued growth, especially since SOL had reached $188.90 on May 21, just days earlier. A significant factor in SOL’s upward movement is a proposal designed to increase yields for validators rather than burning tokens, though network activity remains unchanged.
On May 27, Solana's validators approved the SIMD-0096 proposal, which eliminates the 50% burn rate on priority transactions and sets it to 0%. Consequently, from epoch 621 onward, all transaction fees will be allocated to block producers. This shift aims to ensure validators are motivated to prioritize network security and efficiency over engaging in arbitrage strategies that involve transaction reordering or exclusion.
Maximal extractable value (MEV) refers to profits block producers make by determining the order of transaction processing on the blockchain. With each block containing a limited number of transactions, validators can choose which pending transactions to include, often to the detriment of regular users who might face poorer execution prices in decentralized finance (DeFi) applications.
ETH price hit $3,100, backed by a favorable court ruling and increased network activity.
Ether (ETH) price rose by 5.5% on May 17, nearing $3,100 for the first time in 10 days. Analysts attributed this rally to a decrease in demand for fixed-income instruments following stagnant United States retail sales data in April. This data increased the market’s expectation of a potential interest rate cut by the U.S. Federal Reserve to boost the economy.
Expansionary measures by the central bank are typically seen as bullish for risk-on markets, whether due to an increased monetary supply or reduced credit costs for businesses and individuals. Investors sought exposure to scarce assets, including cryptocurrencies, leading to gold reaching $2,410, just 0.8% below its all-time high.
Ether’s surge was also driven by a U.S. Department of Justice indictment unsealed on May 15. The indictment accused two individuals of wire fraud and money laundering by manipulating the Ethereum blockchain. The document stated that “Ethereum is a decentralized blockchain […] without the need for a trusted intermediary” and added, “No central actor runs the Ethereum Network.”
Top global crypto exchange Binance plans to launch trading support for a new altcoin connected to a viral game on the encrypted messaging platform Telegram. Binance plans to roll out support for NOT, a community token for the popular Telegram-based tap-to-earn mining game Notcoin, via its Launchpool platform, which lets users stake coins to farm […]
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