Market
This Is What Notcoin Needs to Make 17 Billion NOT Profitable
Notcoin’s (NOT) price has experienced a period of consolidation throughout most of September. While the Telegram coin briefly broke above the crucial resistance level of $0.0083, it quickly fell back into consolidation.
Despite this, there is optimism that a rally may be on the horizon if certain market conditions align.
Notcoin Investors Await Gains
According to the Global In/Out of the Money (GIOM) indicator, approximately 17.97 billion NOT, valued nearly at $145 million, was purchased by investors between the price range of $0.0081 and $0.0072. These tokens represents a significant portion of the market supply, and the demand to turn these investments profitable could push the price higher. Investors who bought within this range are likely hoping for a breakout above the $0.0083 barrier to start seeing returns on their investments.
This large volume of purchased tokens is likely to drive up buying pressure, increasing the chances of breaching the resistance. Once this happens, Notcoin could experience an upswing, possibly bringing it closer to a more profitable trading range for these investors.
Read More: What is Notcoin (NOT)? A Guide to the Telegram-Based GameFi Token
Despite this potential bullish scenario, the overall market sentiment for Notcoin remains bearish. The extended period of consolidation has led to growing pessimism among some investors, which could counter the upward pressure caused by the accumulation of 17.97 billion NOT. The lack of significant price movement has caused hesitation, as traders are wary of the token’s future prospects, and this could result in continued subdued price action.
If the bearish sentiment continues to dominate, it could keep Notcoin’s price trapped under the $0.0083 resistance level. The prolonged consolidation may discourage new buyers from entering the market, limiting the potential for upward momentum in the near term.
NOT Price Prediction: Attempting a Breach
At the time of writing, Notcoin is trading at $0.0080, stuck in a tight range between $0.0083 and $0.0070. A breakout above the $0.0083 resistance level could signal the start of a rally, potentially pushing the price toward $0.0094.
However, the mixed signals from both bullish and bearish factors suggest that consolidation may continue for the foreseeable future. The previously mentioned 17.97 billion NOT supply could still generate profits as long as the price stays above $0.0081, the upper limit of the accumulated range.
Read More: How To Buy Notcoin (NOT) and Everything You Need To Know
If Notcoin successfully breaks through the resistance, a rally could lead to a 17% price increase, sending the token to $0.0094. Such a move would invalidate the bearish-neutral outlook and potentially open the door for further gains.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
US Seizes Bitcoin Linked to $879 Million Hack by Lazarus Group
The United States alleges that a North Korean hacking group conducted a series of brazen heists, targeting both traditional financial institutions and the crypto space.
The total amount stolen reached a staggering $879 million. In response, the US government has taken steps to seize assets related to these thefts.
The US Seizes $2.7 Million
On October 4, 2024, the US government filed two legal actions to initiate the seizure of over $2.67 million in stolen digital assets associated with the North Korean hacker group Lazarus.
According to filings, the seizure order targets two major hacks. These include 1.7 million USDT stolen from the Deribit options exchange and 15.5 Bitcoin, valued at approximately $971,000, from Stake.com.
Read more: Crypto Project Security: A Guide to Early Threat Detection
Most recently, the Lazarus Group is also believed to be behind the hack of the WazirX exchange, which resulted in a loss of $234.9 million.
By seizing these cryptocurrency assets, authorities aim to disrupt the illegal financial flows generated by these hackers.
Lazarus Group has targeted organizations in countries including Japan, Singapore, the United States, and Vietnam. The US stated that the methods employed by the Lazarus Group combine malicious cyber attacks, extortion, and theft.
The moniker “Lazarus” derives from a biblical figure who rose from the dead. This name is fitting for a group that seems to re-emerge with new tactics and targets continuously.
Last September, the FBI warned about a new tactic by a North Korean hacker group targeting crypto investors.
“North Korean fake scenarios often include offers of new employment or corporate investment… The actors usually attempt to initiate prolonged conversations with prospective victims to build rapport and deliver malware in situations that may appear natural and non-alerting,” FBI warned.
In February 2021, the US Department of Justice announced indictments against three North Korean computer programmers. These individuals were involved in an extensive criminal conspiracy.
Their activities included stealing money and cryptocurrency. They also deployed malicious cryptocurrency applications and promoted fraudulent blockchain platforms.
The US also asserted that the Lazarus Group participated in numerous high-profile attacks. These attacks include the 2014 Sony Pictures hack and the creation of the WannaCry ransomware.
Read more: 4 Best Bitcoin Mixers and Tumblers in 2024
Furthermore, the Lazarus Group often attempts to launder the stolen funds using the Tornado Cash mixer. However, law enforcement has managed to trace some of these funds.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Why Toncoin Price May Drop 18%
Over the past week, Toncoin (TON) whales have capitalized on recent dips to buy more tokens. This has led to a resurgence in the demand for the altcoin, which has driven up its value since last weekend.
As of this writing, TON is trading at $5.34, noting a 2% price increase over the past 24 hours and a 20% surge in trading volume. While whale activity offers a short-term boost to TON’s price, not everyone shares their optimism.
Toncoin Whales Boost Price
In the past week, TON large holders or whales have increased their accumulation, as evidenced by the spike in its large holders’ netflow. IntoTheBlock’s data has revealed a 124% increase over the past seven days.
Large holders refer to addresses that hold over 0.1% of an asset’s circulating supply. Their netflow measures the difference between the coin they buy and the amount they sell over a specified period. When the metric spikes, it indicates that these whale addresses are buying more coins.
Read more: What Are Telegram Bot Coins?
Moreover, the surge in whale activity has triggered a rise in Toncoin’s price since last weekend, with many transactions now yielding profits. As of Monday, the ratio of TON’s daily transaction volume in profit versus loss is 3.61, its highest in ten days. This indicates that for every transaction ending in loss today, 3.61 transactions have turned a profit.
While this is a bullish signal for TON holders, it could pose risks to its price. The higher potential for profit might prompt investors to sell, which could increase selling pressure. If this happens, TON’s recent gains may reverse, erasing the current upward momentum.
TON Price Prediction: The Desire for Profit May Lead to a Decline
Toncoin whale activity could further fuel demand for the altcoin. When retail investors notice large holders increasing their trades, it often boosts confidence, leading to increased buying and sustained price growth.
If TON experiences a surge in demand, its price could rise by 27%, reaching $6.81 — a level it has struggled to rally past since June.
Read more: What Are Telegram Mini Apps? A Guide for Crypto Beginners
However, if the pursuit of profit triggers more selling, Toncoin’s price may drop by 18%, potentially falling to $4.42.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Is a Bigger Move Coming?
Ethereum price started a fresh increase from the $2,300 support zone. ETH is rising and might aim for a move above the $2,550 resistance.
- Ethereum started a decent increase above the $2,350 and $2,420 levels.
- The price is trading above $2,420 and the 100-hourly Simple Moving Average.
- There is a key bullish trend line forming with support at $2,435 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must clear the $2,525 and $2,550 resistance levels to continue higher in the near term.
Ethereum Price Aims Higher
Ethereum price remained stable above the $2,300 level and started a fresh increase. ETH was able to clear the $2,350 resistance to move into a positive zone like Bitcoin.
The price was able to climb above the $2,400 resistance zone. There was a move above the 50% Fib retracement level of the downward wave from the $2,656 swing high to the $2,310 low. Finally, the bulls pushed the price above the $2,500 resistance.
Ethereum price is now trading above $2,450 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,435 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,525 level. It is close to the 61.8% Fib retracement level of the downward wave from the $2,656 swing high to the $2,310 low. A clear move above the $2,525 resistance might send the price toward the $2,550 resistance.
An upside break above the $2,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,740.
Another Decline In ETH?
If Ethereum fails to clear the $2,525 resistance, it could start another decline. Initial support on the downside is near the $2,450 level. The first major support sits near the $2,420 zone and the trend line.
A clear move below the $2,420 support might push the price toward $2,350. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,420
Major Resistance Level – $2,525
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