Altcoin
Why Crypto Is About To Skyrocket?
The crypto is about to skyrocket regardless of macroeconomic and other factors that have until now kept Bitcoin and altcoins prices under the radar. With multiple developments happening in parallel bolstering the bullish outlook for the crypto market, experts pointed out reasons why the market could see the biggest short squeeze in human history.
Reasons Why Bitcoin and Crypto Market About To Explode?
Brian Dixon, CEO at Off the Chain Capital, explained why the crypto is near a massive breakout or about to explode. He mentions many reasons that are helping bulls to dominate and strengthen their position in the market.
1. Donald Trump’s Lead in Presidential Race
Bitcoin price is more resilient after a failed assassination attempt on Donald Trump. The Republican presidential nominee Trump’s stance on crypto has picked up in recent months. He also announced crypto donations to his campaign earlier and amassed over $3 million in donations from crypto.
Brian Dixon said digital assets will pick pace, bringing more allocations to Bitcoin and other crypto, following the assassination attempt on Trump. Moreover, he also announced pro-Bitcoin J.D. Vance as Vice President pick.
JD Vance holds $100-$250k in Bitcoin and hates bad crypto regulation. Vance is against Gary Gensler and his inclusion of politics in securities regulation. He has raised serious concerns over Gensler’s approach to regulating blockchain and crypto. The SEC is killing the industry and pushing innovation outside the U.S. not realizing the utilities of various crypto tokens.
Donald Trump confirmed that he will make a presence and give speech at the Bitcoin Conference, which will be held in Nashville, Tennessee on July 25-27. It will be a historic moment for the crypto industry.
2. Spot Ethereum ETF Approval
Spot Ethereum ETFs have received preliminary approval from the U.S. SEC. Some Ether ETFs are expected to start trading on Tuesday, July 23. Bloomberg ETF analysts also posted on X platform about the potential increase in buying activity in the market.
Brian Dixon believes spot Ethereum ETFs will also witness demand similar to spot Bitcoin ETFs. The Ethereum ETFs listing and trading will create an easier on-ramp to ETH trading and with time it will drive price. Moreover, he believes it is also a positive development for additional ETFs for other crypto assets such as XRP and Solana.
3. TradeFi Investments in Bitcoin
The mainstream adoption of Bitcoin and other crypto assets is gradually picking pace as TradFi invested in spot Bitcoin ETFs. As a retail investor, one can now invest in Bitcoin through spot Bitcoin ETFs by using traditional brokerage accounts or apps, creating more adoption of other digital assets. Dixon added that the adoption will continue to grow with time.
Apollo Sats data revealed that 154 entities have submitted the 13F filing to the U.S. SEC. Almost 80% of institutions have increased their holdings in these Bitcoin ETFs. Whilst, only 12.5% have decreased their spot Bitcoin ETF exposure.
4. Solana And Other Crypto ETFs
Historically, the SEC had been extremely restrictive in approving ETFs and these products. But the industry saw a complete shift in the SEC as they reached out to Ether ETF issuers to complete the approval processes. Solana ETFs are anticipated to see approval processes in 2025.
Brian Dixon explained that crypto ETFs will see much larger allocations from sovereign wealth funds, pension funds, and endowments. They have a very long due diligence timeline of 12-18 months before they can start pouring money into the Bitcoin ETFs.
Meanwhile, XRP ETF is also on the cards as Ripple CEO Brad Garlinghouse pointed out after CME and CF Benchmarks announced the launch of new reference rates and real-time indices for XRP. Notably, the price has skyrocketed over 40% in a week.
5. Fed Interest Rate Cuts
The global crypto market witnessed renewed buying sentiment amid growing spot Bitcoin ETF inflow, more buying from institutional and retail investors, and strong technical and on-chain charts. The global crypto market cap is at 2.38 trillion, with BTC price trading near $65,000.
With Fed officials including Chair Jerome Powell’s dovish outlook on rate cuts this year after cooling inflation and slowing labor market, traders eye rate cuts in September. Wall Street giants also predicted a first rate cut in September. Crypto research firms including Matrixport also reported that upside momentum will continue for longer.
Also Read: Ripple XRP Case Update — Ex-SEC On Secret Meeting; XRP Breakout To $1 Next?
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.
Secret Network (SCRT) saw a remarkable 50% price rise today, driven by three key developments. The network’s inclusion in NVIDIA Inception, a program supporting innovative tech startups, signals growing confidence in its privacy-focused solutions.
Additionally, Binance’s SCRT perpetual contracts launch with high leverage has boosted market activity. Coupled with a dramatic rise in open interest across major exchanges, these factors are fueling increased investor interest and pushing SCRT to new highs.
Secret Network Joins NVIDIA Inception
Secret Network joined NVIDIA Inception, a program designed to support tech startups advancing AI and blockchain innovations. This collaboration provides the platform with access to AI training, expert resources, and venture networks, boosting its development capabilities.
The partnership enhances Secret Network’s Decentralized Confidential Computing (DeCC) solutions, enabling new privacy tools for Web3 applications. Lisa Loud, Executive Director, emphasized that this initiative will revolutionize how sensitive data is handled in blockchain environments.
Binance Launches SCRT Perpetual Contracts
Binance, one of the world’s top cryptocurrency exchanges, introduced USD-margined Secret Network perpetual contracts with up to 75x leverage. The listing on Binance had an immediate effect, with SCRT’s price soaring 55% as Binance extended its support. This surge highlights growing investor interest, raising questions about whether the rally will be sustained.
Moreover, this move boosts liquidity and builds investor confidence, enhancing Secret’s appeal in the market. As trading activity intensifies on Binance, SCRT adoption continues to grow.
Open Interest Jumps 1300%, Fueling SCRT Price Surge
Secret Network (SCRT) saw an impressive 1300% increase in open interest over the past 24 hours, according to Coinglass data, signaling heightened market activity. On Binance, open interest surged by over 905%, with other major exchanges like Bitget and Kraken also showing significant interest. This surge in demand has propelled SCRT’s price to new highs.
Moreover, SCRT is currently trading at $0.4765, up 50% in the last 24 hours and 134% over the past week. With a 24-hour low of $0.3313 and a high of $0.5488, along with a market cap of $138 million and $107 million in volume, the coin shows strong potential for continued growth.
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.
In an unprecedented event, a dormant Ethereum whale caused a stir across the broader market on Friday, heavily dumping tokens amid the hovering bullish sentiment. Recent data pointed out that the whale dumped nearly $224 million worth of tokens, raising price drop concerns among crypto enthusiasts globally. Despite that, ETH price soared today, setting off waves of speculation over future movements across the industry.
Dormant Ethereum Whale Wakes Up To Sell, Investors Apprehensive
According to the latest data by Lookonchain, an Ethereum whale that was dormant for eight years was revived and started selling. According to the data, the whale used various addresses to sell a staggering $224 million worth of the abovementioned token.
Notably, this whale accumulated 398,889 ETH at around just $2.4 million between January 18 and March 10, 2016, at an average cost of $6 per token. Following eight years of dormancy, the whale revived on November 7, 2024, and commenced offloading.
Meanwhile, the whale has been recorded selling 73,356 ETH, worth $224.42 million, the latest data showed. This massive dump brought selling pressure to the asset. Besides, the colossal amount of Ethereum remaining with the whale has sparked speculations over his future moves.
On the other hand, it’s also noteworthy that the latest Whale Alert data indicated nearly 20.8 million ETH dumped to Coinbase. Although these dumps raised bearish market sentiments, the top crypto by market cap has defied usual trends to trade in the green territory.
ETH Price Soars Defying Selling Pressure
Despite the abovementioned selloffs, ETH price today traded dominantly in the green at $3,337, up 5% intraday. Its 24-hour low and high were $3,147 and $3,428.46, respectively. Intriguingly, the monthly chart for the token showcased 29% gains. This bullish trajectory has raised uncertain investor sentiments over the coin’s future movements.
Further, Coinglass data pointed out a 10% increase in Ethereum’s futures OI to $70.79 billion. Moreover, even the derivatives volume soared 63% to $70.79 billion. This data further points to a bullish scenario for the token, adding to market speculations amid massive selloffs.
Additionally, a recent CoinGape Media report spotlighted key indicators that signal further gains for Ethereum price. Considering these bullish trends and the recent rally in the crypto’s price, it appears that market watchers continue to remain optimistic about the asset despite the recent selloffs.
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.
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.
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.
3 Reasons Why Secret Network (SCRT) Price Skyrockets 50% Today
Stellar (XLM) Price Climbs to Three-Year High
Dormant Ethereum Whale Dumps $224M Tokens, Has ETH Price Topped?
3 altcoins that could go ballistic if Bitcoin (BTC) crosses $120,000 mark
Cardano Whales Accumulation Hits $55 Million: $1 Target Soon?
Ethereum Attempts Key Breakout: Analysts Set $3,700 Target
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Altcoin23 hours agoDogecoin Whale Accumulation Sparks Optimism, DOGE To Rally 9000% Ahead?
-
Bitcoin22 hours agoMarathon Digital Raises $1B to Expand Bitcoin Holdings
-
Regulation16 hours agoUK to unveil crypto and stablecoin regulatory framework early next year
-
Market21 hours agoETH/BTC Ratio Plummets to 42-Month Low Amid Bitcoin Surge
-
Altcoin21 hours ago5 Key Indicators To Watch For Ethereum Price Rally To $10K
-
Market20 hours agoSEC Moves Toward Solana ETF Approval Amid Pro-Crypto Shift
-
Market13 hours agoGOAT Price Sees Slower Growth After Reaching $1B Market Cap
-
Market19 hours agoAptos Partners with Circle and Stripe to Revitalize Network
✓ Share: