Altcoin
Experts Weigh On After Recent Market Crash
Crypto experts at the UnChained crypto podcast, Haseeb Qureshi, Managing Partner at Dragonfly, and Tom Schmidt, General Partner at Dragonfly, along with Robert Leshner, CEO & Co-founder of Superstate, and Tarun Chitra, Managing Partner at Robot Ventures, recently weighed in on the market crash that has intensified the Solana vs Ethereum debate. Their analysis focused on the performance and investment potential of both networks.
Solana vs Ethereum Investment and Performance Dynamics
These experts have given their inputs on the market crash that has intensified the debate over Solana and Ethereum. Solana, despite an impressive start with decentralized exchange (DEX) volumes surpassing Ethereum in its initial month, faces a notable gap in venture capital investment compared to Ethereum. Solana’s capital inflow lags, with high-profile successes largely confined to its own ecosystem or meme coins rather than broader DeFi applications.
Taking a closer look at the variations in the Solana vs Ethereum comparison, Solana has demonstrated robust activity, its capital conditions are less favorable compared to Ethereum, presenting a window for savvy investors. Early-stage funds focused on Solana, like Frictionless or Big Brain, could benefit from being early movers if Solana’s traction continues to grow. Engineering solutions have improved Solana’s network reliability, offering a more pragmatic approach than Ethereum’s theoretical solutions.
Ethereum’s interoperability issues with rollups present challenges, especially in asset movement and liquidity migration. Solana’s user-friendly experience contrasts sharply with Ethereum’s complexities, underscoring a significant advantage for Solana in terms of simplicity.
In the broader crypto landscape, applications like Uniswap and PolyMarket highlight that effective infrastructure and operations can drive substantial value. Solana’s high transaction velocity, particularly in meme coins, contrasts with Ethereum’s slower pace. The success of projects within Solana, despite lower initial funding, underscores its potential for high returns. The Gini coefficient on Solana indicates significant inequality, with a few projects and individuals achieving remarkable success compared to a more balanced success distribution on Ethereum.
Market Turbulence and Recovery Insights
The current market turbulence, triggered by the Bank of Japan’s unexpected interest rate hike, has led to significant global market volatility. The Nikkei’s worst day in 30 years and sharp declines in global stock markets and crypto assets underscore the broader impact of macroeconomic events on the crypto space.
Despite a major loss of $500 billion in the crypto market in a single day, Bitcoin rebounded from a low of $49,000 to around $55,000, although altcoins remained down 30% for the week.
In the wake of the crash, infrastructure and exchanges have shown resilience, with DeFi protocols achieving record volumes and Solana leading in trading activity.
The volatility has highlighted the strengths of decentralized exchanges and isolated trading platforms compared to Ethereum’s congested network. Meme coins have begun to rebound alongside Solana, reflecting a gradual return to normalcy.
Peter Brandt recently took to X to share his views on the ongoing battle between Solana (SOL) and Ethereum (ETH). According to Brandt, it was only a matter of time before a clear winner emerged in this rivalry.
He criticized Ethereum as cumbersome, expensive, and flawed, questioning its claims of decentralization. In contrast, Brandt praised Solana for its user-friendliness and strong foundational elements. He predicts that Solana will gain 100% against Ethereum in the months ahead, reflecting a significant shift in the crypto landscape.
Market corrections in recent times have led to a slow recovery in crypto assets compared to traditional markets, raising questions about why crypto’s rebound has lagged behind other investment sectors. A recent paper suggests that crypto demand is influenced by a mix of idiosyncratic factors and macroeconomic conditions, contributing to its slower recovery.
Regulatory and Market Outlook
The regulatory landscape for AI and crypto reveals a difference in influence and the quality of regulations. AI regulations often suffer from outdated and poorly crafted laws due to a lack of technical understanding among policymakers. In contrast, prediction markets, although growing, face limitations in liquidity and predictive reliability.
As the market stabilizes, the focus shifts to the adaptability of various segments within the crypto space. Solana’s performance, particularly in meme coins, contrasts with other assets and reflects a broader trend of recovery and growth within the crypto market.
Overall, while both Solana and Ethereum face unique challenges and opportunities, the market dynamics and political landscape continue to evolve, influencing their future trajectories.
Also Read: US Solana ETF Hinges On Regulatory “Soft Fork”: VanEck Exec
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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