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Key On-Chain Metrics Bursts Myth, ETH Price Rally Ahead?

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1 week ago

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With Ethereum (ETH) showing major underperformance with the rest of the crypto market, and the ETH/BTC pair hitting multi-year lows, there’s a common perception building up that ‘Ethereum is dead’. However, based on some on-chain metrics, market analysts have been bursting this myth while expecting an ETH price surge ahead.

Analysts Defend Ethereum Against Market Pessimism

As the chorus grows in the market that Solana is better than Ethereum, several market analysts have come to defend the world’s largest altcoin. As per the 10X Research report, the ETH weekly stochastic indicators show the formation of a bottom for the altcoin.

After dropping to less than 10%, this indicator is showing trend reversal again. Historically, whenever this happened, it suggests the formation of the Ethereum price bottom.

Courtesy: 10x Research

On the other hand, the daily trading volume for ETH suggests that the altcoin is nowhere close to being dead. The daily trading volume for ETH is close to $12.2 billion while that of Bitcoin is $21 billion. On the other hand, the daily trading volume of Solana (SOL) is $2.7 billion. As ETH clocks higher trading volumes than SOL, it shows that the world’s largest altcoin continues to be in demand.

Besides, Ethereum is also making higher highs and higher lows on the technical chart. Popular crypto analyst Income Sharks noted:

“Love that everyone says it’s over at the lows. Still making higher highs and higher lows. Supertrend still bullish. No one was saying these things when it was at $4k. Remind me again about what happened when $SOL was dead at $10?”

Courtesy: TradingView

What Can Lead to ETH Price Revival Ahead?

On the weekly chart, the ETH price is trading 7.64% down while managing to hold the support levels of $2,500. Market analysts view ETH among three potential altcoins to rally ahead this week.

Ethereum enthusiast VivekVentures points out three reasons why the altcoin will continue to rally ahead.

  1. Fundamental: Despite all the pessimism, institutional players are choosing Ethereum to build and expand their products. Asset manager BlackRock launched its first tokenized fund on Ethereum. Similarly, financial giant Visa announced asset tokenization on the platform.
    WisdomTree is deploying money market funds on Ethereum while Coinbase, Sony, and Kraken are all developing Layer 2 solutions on Ethereum.
  2. Psychological: Vivek explains that ETH appears to be out of favor with many expecting the altcoin’s “demise”. Thus, ETH is either on a decline or is facing a solid contrarian opportunity, and he believes it’s the latter.
  3. Technical: For all these years, Ethereum has been competing with Bitcoin while the ETH/BTC pair has been struggling since the Merge. VivekVentures writes that if we believe in market cycles, we saw ETH/BTC stagnate similarly in 2020, only to rally and triple in the first half of 2021.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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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XRP Price Prediction: 2025 To Be Bullish With 450% Rise, ETFSwap (ETFS) To Rally 14,000% To New ATHs

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10 hours ago

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November 5, 2024

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As cryptocurrency trends point to a bullish year in 2025, investors are paying close attention to the XRP price and another fast-rising altcoin, ETFSwap (ETFS). Predictions for the XRP price show a projected increase of up to 450%, while ETFSwap (ETFS) could potentially rally 14,000% to reach new all-time highs.

ETFSwap (ETFS): Innovative DeFi Platform With Powerful Features

ETFSwap (ETFS) has emerged as a game-changer in the DeFi space, presenting users with several high-value features. Central to its appeal is its user-friendly interface, making the DeFi experience easy for everyone, from novice traders to seasoned investors. This interface guarantees that users can use the platform with minimal complexity, thereby making ETFSwap (ETFS) accessible and enjoyable.

In addition, ETFSwap (ETFS) is fully DeFi-oriented, enabling users to swap other cryptocurrencies in a decentralized way, enhancing both transparency and user control. With ETFSwap (ETFS), users can swap assets with ease, bypassing traditional financial systems entirely.

ETFSwap (ETFS) will give users access to various ETF staking pools to earn passive income. ETFSwap (ETFS) has also promised a live price tracker in the AI-powered ETF Tracker. This tool will trail the prices of popular ETFs in real-time, assisting users to take every trading opportunity that presents itself. Similarly, the flexibility the ETF tracker affords will help users perform more efficient risk management as they can adjust or close their open positions in response to adverse market dynamics.

ETFSwap (ETFS) will also feature an advanced AI-driven ETF Screener. This AI-driven ETF tool allows investors to analyze ETF performance in real time, and makes recommendations based on market sentiment, trends and pattern recognition so users can make better investment decisions.

Adding to its appeal, ETFSwap (ETFS) plans to launch its own ETF by 2025, allowing users to invest in a crypto ETF tailored to meet the demands of modern investors. The platform’s credibility is further strengthened by a security audit from Cyberscope, which has verified ETFSwap (ETFS)’s commitment to maintaining a secure and transparent environment. This audit reflects the platform’s focus on safeguarding assets and upholding trust within the community.

XRP Price Prediction: Bullish Prospects For 2025 With 450% Growth

The XRP price forecast for 2025 remains highly optimistic, with industry experts projecting a remarkable 450% increase from the current XRP price of $0.5243. Experts believe that Ripple (XRP) could trade between $3 and $5, making it one of the top-performing cryptocurrencies in this cycle. As a token with established utility in cross-border payments, the XRP price is well-positioned to benefit from growing interest in digital currencies. Ripple’s (XRP) strategic focus on partnerships has further boosted the XRP price level in global finance, with leading institutions increasingly adopting Ripple’s (XRP) blockchain technology. 

The anticipated improved adoption facilitates efficient, cross-border transactions positions Ripple (XRP) as a reliable choice for those looking to benefit from both stability and strong growth potential in the crypto market. As investor confidence builds around Ripple (XRP), it is projected that the XRP price will move toward new highs, making it an attractive asset for long-term investment.

ETFSwap (ETFS) To Set New ATHs With 14,000% Rally

While Ripple (XRP) continues to grow as a leader in the payments industry, and the XRP price targets a 450% rise, ETFSwap (ETFS) is paving the way for new possibilities in DeFi and ETF investing. Top analysts predict that the surging interest in the ERC-20 token will trigger its surge by 14,000%. They especially expect the demand that its upcoming beta platform launch will create to explode the token’s value tremendously, frequently setting new ATHs next year. 

Don’t miss your chance to join the presale of ETFSwap (ETFS) for $0.05769 and access a groundbreaking platform that combines advanced ETF tools with the freedom of a fully DeFi ecosystem. Take action now and be part of the next big movement in crypto!

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community



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Binance Expands Support For POPCAT & MEW, Will These Solana Meme Coins Rally?

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18 hours ago

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November 5, 2024

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Crypto exchange behemoth Binance on Tuesday revealed a vital announcement on meme coins POPCAT & MEW (Cat in a Dogs World). The exchange primarily revealed that it is adding the perpetual contracts for the mentioned meme tokens to its futures copy trading platform. In light of this new enhanced offering revealed by one of the leading exchanges, market watchers speculate whether the Solana meme coins could rally ahead.

Binance Enhances Offerings For POPCAT & MEW Sparking Optimism

In an official Binance announcement dated November 5, the crypto exchange revealed that it is adding POPCAT and MEW USD-Margined perpetual contracts to the futures copy trading division today at 09:00 UTC. Per the announcement, users can now trade POPCATUSDT and MEWUSDT on the copy trading platform.

For context, the copy trading division of the digital asset trading platform allows users to “copy experienced traders’ portfolios in real time.” This enhanced investment offering for market watchers, providing opportunities to maximize gains on an asset, could bring a pivotal shift in market sentiments surrounding the Solana meme coins.

Primarily, as more buyers gush in to capitalize on gains mirroring experienced traders’ profiles, a substantial increase in buying pressure could propel bullish momentum in the meme coins. Overall, as the crypto exchange giant expands its offerings for the abovementioned crypto, market watchers remain optimistic about future price movements.

Solana Meme Coins’ Prices To Rally?

At press time, POPCAT price soared nearly 4% in tandem with Binance’s announcement, reaching $1.30. The coin’s intraday low and high were $1.19 and $1.31, respectively. Simultaneously, MEW price gained nearly 2% today and is trading at $0.008332. The coin’s 24-hour low and high were $0.00765 and $0.008528, respectively. Notably, the cryptos’ rising price movement aligns with the enhanced trade offerings by one of the leading crypto exchanges.

Simultaneously, it’s also worth mentioning that the same exchange listed Solana-based PONKE recently, causing a similar upswing effect on the coin’s price. However, PONKE traded down nearly 4% today, reaching $0.4352, sparking contrasting sentiments on the Solana meme coins prices.

On the other hand, CoinGape Media reported that GOAT price extended weekly gains to nearly 200% with the exchange’s launch of futures listing recently. Overall, market watchers remain uncertain over POPCAT and Cat in Dogs World’s prices ahead in light of recent listings.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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Shiba Inu Team Proposes S.H.I.B. Strategy to Musk and Trump, SHIB Price To Rally?

Published

22 hours ago

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November 5, 2024

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Shiba Inu coin’s team sparked a tidal wave of frenzy across the crypto landscape on Tuesday, revealing a proposal to introduce Strategic Hub for Innovation in Blockchain (S.H.I.B.) in the U.S. Notably, the meme coin’s lead developer, Shytoshi Kusama, unveiled this proposal recently while also inviting “presidential candidates or interested parties” nationwide to jack up the endeavor. Meanwhile, another prominent community member, Kaaldhairya, called out on the U.S. presidential candidate Donald Trump and American billionaire Elon Musk, drawing their attention to the matter.

Shiba Inu Team Unveils S.H.I.B. Proposal

In an official X post dated November 5, Shytoshi Kusama proposed for S.H.I.B. (Strategic Hub for Innovation in Blockchain) in the U.S. Notably, this mover aims to transform the United States into an epicenter for blockchain technology and sustainable development. As the global race for blockchain and digital asset-based investments grows, this mover could be pivotal, the proposal spotlighted.

Further, the details in the proposal also rolled out a potential budget plan for the development of the strategic hub in the U.S. Encompassing key aspects such as infrastructure development, economic incentives, talent development, regulatory framework, building and overseeing sustainable practices, marketing and global outreach, the projected cost for the hub development is $1.3 billion – $2.35 billion over a 5- to 10-year period, per the plan revealed by Kusama.

Shiba Inu Team's S.H.I.B. PlanShiba Inu Team's S.H.I.B. Plan

In addition, this project also eyes outcomes such as job creation, startup attraction, employment growth, and technological growth, among other optimistic advancements. Overall, the proposal sparked a frenzy among market participants, also bringing attention to the meme coin Shiba Inu’s crypto venture.

Meanwhile, meme coins appear to have stolen the spotlight amid the ongoing U.S. presidential elections. Notably, Elon Musk’s Department of Government Efficiency (D.O.G.E.) saga has already injected significant optimism into Dogecoin, another leading dog-themed meme crypto. Recently, CoinGape media reported that the American billionaire tapped into U.S. Fed critic Ron Paul for D.O.G.E expertise, aiming to minimize government spending.

Exec Hollers At Trump & Musk Sparking Optimism Over SHIB Price

On the other hand, Kaaldhairya, another prominent member of the meme coin’s team, took to X, tagging Elon Musk and Donald Trump while reiterating Kusama’s statements. According to Kaal, this endeavor could bring “America’s very own ‘Crypto Valley’- Call it S.H.I.B., D.O.G.E.’s hyper-smart cousin that brings jobs, tech and a futuristic world!” Altogether, this statement has garnered significant attention across the broader market, echoing optimism for Shiba Inu’s future prospects.

Given the proposal garners support, the meme coin’s price action could also see a paradigm shift. Notably, SHIB price traded at $0.00001745, up 4% intraday in tandem with the announcement. The coin’s 24-hour low and high were $0.00001642 and $0.00001743, respectively. Crypto market enthusiasts continue to monitor the coin amid recent developments, expecting further shifts in the trajectory ahead.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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