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Over $407,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin (BTC) Plunges to Four-Month Low

Over 7,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin (BTC) Plunges to Four-Month Low

Tens of thousands of crypto traders are having their positions liquidated as markets across numerous sectors close out the week in the red. Data from the cryptocurrency futures trading and information platform Coinglass reveals that on May 5th, more than $407.60 million worth of trader positions in digital assets were wiped out in a 24-hour […]

The post Over $407,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin (BTC) Plunges to Four-Month Low appeared first on The Daily Hodl.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

Coin Bureau Issues Warning on TRON (TRX), STEPN (GMT), Nexo and Another Altcoin As Crypto Markets Teeter

Coin Bureau Issues Warning on TRON (TRX), STEPN (GMT), Nexo and Another Altcoin As Crypto Markets Teeter

The closely followed analyst and host of Coin Bureau is issuing warnings on a slew of altcoins that put in good performances last week, but face headwinds as crypto markets correct. In a new update, the pseudonymous analyst known as Guy tells his 2.03 million subscribers that smart contract platform TRON‘s (TRX) rallies after news […]

The post Coin Bureau Issues Warning on TRON (TRX), STEPN (GMT), Nexo and Another Altcoin As Crypto Markets Teeter appeared first on The Daily Hodl.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

One of 2022’s Most Explosive Altcoins Is About To Walk Off a Cliff, Warns Top Crypto Trader

One of 2022’s Most Explosive Altcoins Is About To Walk Off a Cliff, Warns Top Crypto Trader

A closely followed crypto trader is issuing a warning to STEPN (GMT) investors, saying that the fundamentals of the altcoin no longer support its valuation. Pseudonymous analyst Light tells his 155,700 Twitter followers that he believes GMT, which equips users with non-fungible token sneakers and rewards them for taking steps in real-life, is extremely overvalued […]

The post One of 2022’s Most Explosive Altcoins Is About To Walk Off a Cliff, Warns Top Crypto Trader appeared first on The Daily Hodl.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

Trading for GARI, GMT, GST, mSOL and SAMO Starts April 29 – Deposit Now!

We’re thrilled to announce that Kraken now supports Gari Network (GARI), STEPN (GMT), Green Satoshi Token (GST), Marinade SOL (mSOL) and Samoyedcoin (SAMO)! Funding and Trading Funding is live, and trading will begin on April 29 at approximately 18:30 UTC. Keep an eye on the…

The post Trading for GARI, GMT, GST, mSOL and SAMO Starts April 29 – Deposit Now! appeared first on Kraken Blog.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

Altcoin That’s Exploded 3,509% in 2022 Set for Imminent Launch on Coinbase

Altcoin That’s Exploded 3,509% in 2022 Set for Imminent Launch on Coinbase

The top US-based crypto exchange Coinbase is preparing to list two explosive crypto assets, including one that has soared 3,509% in 2022. The exchange says it will soon add both STEPN (GMT) and Green Satoshi Token (GST) to its altcoin lineup. The health and fitness-focused crypto assets will be accompanied by the Experimental label, which […]

The post Altcoin That’s Exploded 3,509% in 2022 Set for Imminent Launch on Coinbase appeared first on The Daily Hodl.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

Biggest Movers: STEPN GMT Remains Close to Record Highs, as GRT and CAKE Trade Higher

Biggest Movers: STEPN GMT Remains Close to Record Highs, as GRT and CAKE Trade HigherFollowing a short-lived move above $4.50 on Wednesday, GMT was once again higher, and traded up by over 20% in today’s session. GRT was another big gainer in Thursday’s session, as it moved to a multi-week high, whilst CAKE rebounded after recent losses. The Graph (GRT) Newly formed GMT was undoubtedly today’s top gainer, climbing […]

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

Here’s What’s Next for Ethereum Rivals Polkadot, NEAR and Two Additional Altcoins, According to Top Analyst

Here’s What’s Next for Ethereum Rivals Polkadot, NEAR and Two Additional Altcoins, According to Top Analyst

Widely followed crypto analyst Michaël van de Poppe is mapping out what’s in store for four altcoins including Ethereum challengers Polkadot (DOT) and Near Protocol (NEAR). Van de Poppe tells his 587,800 Twitter followers that interoperable blockchain Polkadot must take out its immediate resistance to have a shot at a 35% surge. “Very simple chart. […]

The post Here’s What’s Next for Ethereum Rivals Polkadot, NEAR and Two Additional Altcoins, According to Top Analyst appeared first on The Daily Hodl.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

STEPN to new highs? GMT price painting first ‘bull flag’ toward $5 target

GMT is booming amid warnings that its 38,000% price rally since inception could end up being an "absolute joke."

STEPN (GMT) has rallied strongly against the U.S. dollar this week as it looks likely to form a classical bullish technical pattern called the "bull flag."

GMT eyes more upside

GMT's price rose 30% week-to-date, including a strong rally to establish an all-time high near $3.85 followed by a relatively modest correction to nearly $3. In particular, the correction phase occurred inside a descending parallel channel, raising possibilities that the price would eventually break out of it to the upside.

That is precisely because traditional analysts consider strong run-ups, followed by range-trapped price corrections, as bullish continuation setups. And the one GMT has been painting — a bull flag, as mentioned above — could lead to an upside boom in the weeks ahead, as shown in the chart below.

GMT/USD 4-hour price chart featuring 'bull flag' setup. Source: TradingView

As a general rule, traders realize a bull flag target by measuring the previous uptrend's height and projecting it from the breakout point. Applying the classic setup on GMT's chart shows that it now eyes a run-up above $5, about 65% above today's price.

Bull flags' success rate of meeting their upside targets sits near 64%, according to Thomas Bulkowski, a veteran investor and analyst.

But the risk of a drop toward $2 becomes high if the GMT's price breaks below the bull flag's lower trendline, the last line of support, which coincides with the 50-4H exponential moving average (50-4H EMA; the red wave) at $2.91.

STEPN's 38,000% gains 'an absolute joke'? 

GMT surged by nearly 38,000% in less than two months, amid the hype surrounding STEPN's "move-to-earn" economic model that rewards its app's users with a native currency, called Green Satoshi Token (GST), for merely moving.

STEPN generates revenues (it made $26.81 million in Q1/2022) via the sales of its so-called "NFT Sneaker" — a unique digital image whose ownership enables players to earn GST in the first place. The game uses the proceeds first to buy and then burn GMT, thus creating upward pressure on its prices if the demand for the token goes up.

Independent market analyst Wangarian believes the hype around STEPN looks similar to what Axie Infinity (AXS), a play-to-earn gaming metaverse, witnessed in May 2021. AXS/USD rallied from around $2.50 to about $178 between May and November last year.

Fellow independent market analyst Michaël van de Poppe, however, fears that GMT's market capitalization, which sits near $1.9 billion — with a fully diluted valuation of around $18 billion — is an "absolute joke."

But GMT "valuations can still become ridiculous," he adds, owing to STEPN's marketing tactics.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

Widely-Followed Crypto Trader Says Bitcoin (BTC) Could Retest $46,000 Soon, Explains STEPN (GMT) Valuation

Widely-Followed Crypto Trader Says Bitcoin (BTC) Could Retest ,000 Soon, Explains STEPN (GMT) Valuation

Popular crypto analyst Michaël van de Poppe says Bitcoin (BTC) could reach $46,000 and beyond soon while opining on the value of rising altcoin STEPN (GMT). In a new tweet, Van de Poppe shares two BTC charts with his 586,300 followers highlighting important levels for the leading crypto asset by market cap. “If the market wants to […]

The post Widely-Followed Crypto Trader Says Bitcoin (BTC) Could Retest $46,000 Soon, Explains STEPN (GMT) Valuation appeared first on The Daily Hodl.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

Analyst Says Record High Imminent for One Ethereum Challenger

Analyst Says Record High Imminent for One Ethereum Challenger

A closely followed crypto strategist says that one Ethereum (ETH) challenger is poised to print a fresh all-time high in the coming weeks. Pseudonymous analyst Altcoin Sherpa tells his 173,400 Twitter followers that he’s bullish on decentralized application platform Near (NEAR) as he expects the Ethereum competitor to sustain its uptrend en route to a […]

The post Analyst Says Record High Imminent for One Ethereum Challenger appeared first on The Daily Hodl.

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future