Altcoin
These 8 Altcoins May Skyrocket As Binance Expands Support
Artificial Superintelligence Alliance Price Chart (FET), Radiant Capital (RDNT), Floki (FLOKI), Aave (AAVE), LayerZero (ZRO), Sun (SUN), Bittensor (TAO), and VIDT Dao (VIDT) are the eight altcoins whose price could skyrocket following Binance’s decision to expand its trading support for them. This move from the largest crypto exchange by market share is expected to draw more attention to these coins, which could ultimately lead to a price surge for them.
Binance Expands Trading Support For These Altcoins
Binance announced in a blog post that it had updated the leverage and margin tiers of FETUSDT, RDNTUSDT, 1000FLOKIUSDT, AAVEUSDT, ZROUSDT, SUNUSDT, TAOUSDT, and VIDTUSDT perpetual contracts. The crypto exchange further highlighted what these updates entailed. Per information shared in the announcement, the updates made to these eight altcoins’ leverage and margin tiers are similar.
Traders can now use up to 75x leverage on FET, RDNT, FLOKI, AAVE, ZRO, and TAO instead of the previous maximum leverage offered for these coins. Before now, traders could use up to 75x leverage on SUN and VIDT, which remained unchanged following Binance’s update. However, an update that applied to all eight altcoins was the increase in the notional value of positions depending on the leverage used. Meanwhile, the maintenance margin rate was updated to 1% for leverage between 51x and 75x.
This update is significant as more liquidity is expected to flow into these top coins, considering that traders can now open larger trades on them. The coins could experience a significant price surge as demand for them increases and more liquidity flows into their ecosystem.
FET Already Enjoying A Price Surge
Artificial Superintelligence Alliance Price Chart (FET) is up over 10% in the last 24 hours. Crypto analyst Phrex mentioned in an X post that the altcoin looks ready to break out above $2. As such, Binance’s decision to increase the altcoin’s trading tier could be the catalyst for the break above $2.
$FET looks ready to break out above $2 pic.twitter.com/96Lzz4Jyyy
— Phrex (@CryptoPhrex) September 10, 2024
RDNT Has $0.1 In Sights With Binance Update
Radiant Capital has risen to as high as $0.08 in the last 24 hours. Considering the recent update from the crypto exchange, the altcoin now has $0.1 in sight. Crypto analysts seem to be confident that this is a price level that RDNT can hit soon enough. One crypto analyst, Popsicle, stated in an X post that the coin looks bullish and expects it to rise to between $0.1 and $0.15 within two weeks.
More Liquidity Flows Into FLOKI
Alongside Binance expanding its trading tiers for FLOKI, the altcoin’s outlook is also bullish thanks to the recent CAT airdrop distributed to FLOKI holders. This has led to a liquidity surge in the meme coin’s ecosystem, which could ultimately lead to a price rally. Per a recent Coingape analysis, the FLOKI Price could also surge thanks to its recent partnership and market resilience.
AAVE’s Price Is Surging Quietly
AAVE’s price is up over 3% in the last 24 hours. However, the bigger picture shows that the decentralized finance (DeFi) token has risen by over 50% in the last month. This is more impressive, considering that the broader crypto market has remained stagnant during this period. Crypto whales have been quietly accumulating the altcoin, contributing to this notable price surge.
ZRO’s Ultra Bullish Prediction As Altcoin Price To Reach $40
Crypto analyst CryptoBullet recently laid an ultra-bullish prediction for ZRO, stating that $40 is a price target that the altcoin could reach by 2025. The crypto analyst highlighted the coin’s bullish fundamentals, noting no token unlocks until July 2025. With only 110 million ZRO tokens in circulation, he is confident that the altcoin can hit the $40 mark.
SUN Is Benefitting From The TRON Hype Alongside Binance Support
The SUN token has been rejuvenated thanks to the hype in the TRON ecosystem. Specifically, there has been an influx of meme coin traders on the TRON network, contributing to an increase in DeFi trading volume and a surge in the demand for the DeFi token. SUN Price also has a bullish outlook following plans to buy back and burn some coins in circulation. With such fundamentals, Binance’s decision to update its trading tier for SUN would only spark more bullish momentum for the altcoin.
TAO Price Could Rise To Current ATH
Crypto analyst Dark Horseman has made a case for why TAO’s price could surge to its all-time high of $767. The crypto analyst argued that the altcoin is one of the “best AI/DePIN projects on the market” and that at its current price of around $200, TAO is “an absolute gift.”
I wouldn’t be surprised if $TAO / $USDT makes a strong run back to its ATH of $767.@opentensor is arguably the best if not, one of the best AI/DePIN project on the market, and prices around $200 are an absolute gift. This could easily be one of the simplest 3X plays this cycle.… pic.twitter.com/jQmQQGpiCt
— Dark Horseman (@Dark__Horseman) September 9, 2024
VIDT Could Enjoy Another Parabolic Rally With Binance Update
VIDT could enjoy another parabolic following the crypto exchange’s update. The altcoin has already surged by over 180% in the last month. This bullish momentum for the coin is largely thanks to its timestamping technology, which has a real-world use case. This technology is known to be used by companies like Airbus and IBM.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Top Neiro Ethereum Holder Dumps $3M NEIRO Sparking Price Dip Concerns
One of the top Neiro Ethereum holders has surprisingly sparked bearish sentiments amid a bull market, heavily dumping the dog-themed meme token. Recent on-chain data pointed out that the 2nd largest holder of the token, Wintermute, took action to dump $3M worth of coins. This dump has raised substantial investor concerns, further solidified by the coin’s waning price movement amid a broader bull market.
Top Neiro Ethereum Holder Offloads Over 100M Coins
According to data by Arkham Intelligence, Wintermute deposited 35 million Neiro Ethereum tokens worth $3.08 million to Bybit over the past three days. Notably, the market maker remains the 2nd largest holder of the crypto, holding 10.9% of the total supply worth 108.95 million tokens.
Besides, it’s noteworthy that the same market maker totally withdrew 121.466M of the same token from Bybit before the abovementioned selloff to become the 2nd largest holder of this Shiba Inu dog breed-themed crypto. Nevertheless, despite the selloff weighing in, Wintermute is still the 2nd largest holder of the asset.
In light of this dynamic, market participants remain apprehensive as future selloffs by the top holder could negatively influence the renowned meme coin’s price movements. Meanwhile, despite a bullish sentiment over top meme coins, as witnessed by Dogecoin, Pepe coin, Bonk, and other tokens’ phenomenal gains, the Neiro Ethereum selloff has solidified market concerns.
Token Price Remains Volatile
At the time of reporting, NEIRO price traded near the flatline over the past 24 hours to rest at $0.079. The coin’s intraday low and high were $0.0753 and $0.08385, respectively. Notably, the weekly chart for the crypto showcased a 10% dip. This waning action has sparked severe market concerns in the wake of the abovementioned selloff.
However, a recent CoinGape Media report revealed that Neiro Ethereum has partnered with the market maker DWF Labs, adding investor intrigue on future price movements. Notably, another massive holder of the crypto is GSR Markets, a renowned market maker, holding 33.52 million tokens. Wintermute and GSR collectively hold 142.47 million tokens worth 14.25% of the total supply.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Hidden Bullish Divergence Appears On Dogecoin Price Chart, Here’s What To Expect Next
A hidden Bullish Divergence pattern has just been identified on the Dogecoin price chart, signaling possibilities of a significant uptrend. With this new technical pattern, a crypto analyst has projected a target of $0.7 for the Dogecoin price.
Bullish Divergence Hint At Dogecoin Price Surge
On November 20, crypto analyst Trader Tardigrade on X (formerly Twitter) announced the appearance of a hidden bullish divergence on the Dogecoin 4-hour Relative Strength Index (RSI) chart. Based on this unique technical indicator, the analyst’s Dogecoin price analysis suggests that the meme coin may be gearing up for a significant rally to the upside.
Typically, an RSI hidden bullish divergence occurs when the price of a cryptocurrency forms higher lows while its RSI forms lower lows. This indicates that despite Dogecoin’s RSI showcasing declining momentum, its price is still maintaining strength, suggesting a higher potential for an uptrend continuation.
Recently, the Dogecoin price has been on a major bullish run, as it skyrocketed from above $0.1 to over $0.35 in just a few weeks. This impressive rally has allowed the popular meme coin to test the $0.4 resistance level, a critical threshold that could trigger a significant rally for the Dogecoin price.
Based on Trader Tardigrade’s Dogecoin chart, the RSI Hidden Bullish Divergence can be seen forming at around the $0.37 price level. The analyst has set a bullish target at $0.7 for Dogecoin, highlighting a steady but continuous growth from its current price if it can maintain positive momentum.
As of writing, the price of Dogecoin is trading at $0.38, marking a 165.19% surge over the past month, according to CoinMarketCap. Despite repeatedly failing to break the $0.4 threshold, Dogecoin could see an 84.2% price increase from its current value if the projected positive growth driven by the Hidden Bullish Divergence holds valid. This would effectively push the meme coin close to or even above it’s All-Time High (ATH) of $0.73 in May 2021 during the last bull market.
DOGE Targets New ATH
In another X post, crypto analyst, Steph, has maintained an optimistic outlook on the Dogecoin price. According to Steph, Dogecoin could be gearing up for a new ATH this bull cycle.
The analyst shared a 2-year Dogecoin price chart, pinpointing a bullish target between $1.4 and $1.8 for the meme coin. Following the target’s position on the Dogecoin chart, the analyst suggests that this ATH rally could either take place before the end of 2024 or in 2025.
Based on current market trends, this massive price surge to a new ATH could be potentially driven by Elon Musk’s influence through his newly proposed organization, the Department of Government Efficiency (D.O.G.E). Additionally, Donald Trump’s upcoming inauguration as the 47th United States (US) President could also serve as a strong catalyst that could propel the Dogecoin price higher.
Altcoin
XRP Price Rally to $2 As Paul Atkins Leads to Replace US SEC Chair Gary Gensler
XRP price shot up 26% in hours as the US SEC Chair Gary Gensler announced his resignation. Ripple’s native token XRP hit a high of $1.43, the levels last seen during the 2021 bull run. Crypto market analyst predicts the continuation of the rally all the way to $2 following a bullish pattern breakout. The news of pro-crypto Paul Atkins replacing Gensler as SEC Chair could fuel the XRP rally further.
XRP Price Rally to $2 Coming?
Following the resignation announcement by SEC Chair Gary Gensler, the XRP bulls have charged in leading to another 26% price rally. Gensler’s last day at the office will be January 20, 2025, the same day when President-elect Donald Trump takes charge at the White House. It is clear that the XRP community sees Gensler’s resignation as positive, following the tough four-year legal battle in the Ripple lawsuit.
Crypto market analyst Ali Martinez believes that this rally will continue to $2. Martinez suggested that Gensler leaving the SEC would mark a significant turning point for Ripple, potentially easing regulatory pressures on the company.
“Gary Gensler leaving the SEC is the best thing that could happen to Ripple,” Martinez stated. He further added that XRP price could now set its sights on a $2 target, amid the fresh breakout from the flag-and-pole pattern.
Crypto analyst CrediBULL Crypto highlighted that XRP’s monthly Relative Strength Index (RSI) is on the verge of entering overbought territory for the first time in three years. “XRP/ETH just reclaimed and retested a 4 year long range, with the first target being ~250% higher,” he added.
Paul Atkins to Replace US SEC Chair Gary Gensler?
As Gary Gensler puts his resignation, the biggest question in everyone’s mind is whom will Donald Trump appoint as the next SEC Chair? Fox Business reported that former SEC Commissioner Paul Atkins is the front-runner to succeed Gary Gensler.
Paul Atkins is popular for his free-market regulatory approach and pro-crypto stance. He has also garnered strong support from the business community and the digital asset industry. His appointment could also open the gates for the spot XRP ETF by 2025.
21Shares, Canary Capital, and Bitwise have already filed with the US SEC for the XRP ETF in the last two months. The arrival of this investment product could fuel institutional interest in XRP.
Gary Gensler’s decision not to complete his term at the SEC has been met with widespread approval from the business sector, which has been critical of his regulatory approach. The narrative towards the end of Ripple vs SEC lawsuit now looked more obvious.
As of press time, the XRP price is trading 26% up at $1.40 with a market cap of $80 billion. As per the Coinglass data, the open interest in XRP has shot up 35% to $2.47 billion. In the last 24 hours, $25.64 million worth of XRP positions were liquidated with $14 million in short liquidations and $11.62 million in long liquidations.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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