Altcoin
3 Reasons Why ETH No More A Trump-Trade
The world’s largest altcoin Ethereum (ETH) has faced major challenges with investors showing disappointment over its recent price performance. On the other hand, its Layer-1 competitor Solana is gaining much traction among investors amid strong DeFi activity. Popular economist Alex Kruger explains that ETH is no more a Trump trade and why he has stopped betting on the altcoin altogether.
Shifting Focus from Ethereum to Other Solana
Despite the strong chances of a Donald Trump presidential win, renowned crypto analyst Alex Kruger advises betting against Ethereum. He speculated that although the broader altcoin market would turn positive following Donald Trump’s victory, ETH has less chance of a rally.
“When an asset is supposed to go up and does the opposite, that’s the market telling you something,” said Kruger. Unlike other altcoins, ETH hasn’t much participated in the market rally over the last year. Furthermore, the launch of spot Ether ETFs hasn’t done enough to garner institutional interest in Ether.
Noting Ethereum’s multi-year downtrend against Bitcoin (ETH/BTC) and shifting on-chain activity away from ETH, Kruger has removed ETH from his election strategy.
Betting on Trump’s victory prospects, Kruger had previously initiated longs for both, ETH and SOL. However, he recently dropped ETH from his core assets and said that he would rather focus on Bitcoin and Solana. He pointed to Solana’s recent performance and growth in the Layer 2 and Bitcoin ecosystems as better opportunities. To keep up with Solana’s growth, Vitalik Buterin suggested a few measures to boost TPS on the Ethereum blockchain.
Furthermore, amid the recent AI meme coin frenzy, Solana overtook Ethereum in terms of daily revenue. Kruger stated that following the Trump victory, SEC Chair Gary Gensler might be ousted. This would open the chances for spot Ether ETFs to stake their ETH.
But in such a situation, Kruger predicts that Solana ETFs would make their way to the market, which would again keep SOL in the leading spot.
Trader Withdraws Long ETH Long Positions
Popular trader James Fickel is withdrawing his long positions on ETH/BTC as the trading pair drops to its lowest since April 2021. A few hours ago, Fickel converted 2,000 ETH ($5.06 million) to 74.75 wrapped Bitcoin (WBTC) and deposited an additional 20,000 ETH ($50.6 million) on Coinbase Prime.
Moreover, Fickel’s ETH/BTC position has seen a significant paper loss, with over 23,000 ETH, worth a staggering $58 million. Thus, the crypto trader has been aggressively reducing his position on ETH in recent days.
James Fickel (@jamesfickel) appears to be accelerating the reduction of his ETH/BTC long position!
8 hours ago, he swapped another 2,000 $ETH ($5.06M) for 74.75 $WBTC and deposited 20,000 $ETH ($50.6M) to #CoinbasePrime.
He still has 980.2 $WBTC ($65.4M) in debt on #Aave.… https://t.co/rftJT0vxFU pic.twitter.com/BU5HzuxAEU
— Spot On Chain (@spotonchain) October 26, 2024
On the other hand, co-founder Vitalik Buterin has defended the recent sell-off from the Ethereum Foundation. His comments came while explaining Helios’s role in multi-chain Ethereum scaling.
One user asked that while he has been pushing for key development on the blockchain, why has been the Ethereum Foundation selling aggressively? Responding to this, Buterin said that they need to pay developers and other contributors within the ecosystem.
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
SLERF Price Soars 55% Amid Binance’s Extended Support, Rally To Sustain?
Solana meme coin SLERF price has advanced 55% today, emerging as the talk of the crypto town on Thursday. Notably, the coin surfs bullish tides across the crypto landscape as the leading crypto exchange, Binance, unveiled a new listing for it. For context, traders also reacted positively to the listing announcement as the token’s intraday trading volume soared over 200%.
Binance Unveils SLERF Perpetual Contract Igniting Market Bullishness
In an official Binance announcement dated November 21, the crypto exchange revealed that it is launching SLERFUSDT (USD-Margined) perpetual contract today at 11:30 UTC. Intriguingly, the platform’s colossal user base remains poised to enjoy up to 75x leverage trading the asset. This has sparked a SLERF price rally recently, indicating the growing market confidence.
Further, the leading crypto exchange set the capped funding rate for the token at +2.00% / -2.00%. Also, the tick size for the crypto was 0.0001, per the announcement. Notably, the underlying asset remains the abovementioned Solana meme coin, SLERF.
On the other hand, Binance also revealed that it is launching Secret (SCRT) (USD-Margined) perpetual contract at the same date and time. This perpetual contract launch also boasts maximum leverage of 75x in an effort to magnetize investors. Overall, these enhanced offerings have set off optimistic waves for the tokens across the broader market, offering enhanced liquidity and investment opportunities to market participants.
SLERF Price Rallies
At the time of reporting, SLERF price witnessed gains worth 55% and is currently trading at $0.4373. Its intraday low and high were $0.2547 and $0.4266, respectively. The coin’s 24-hour trading volume surged 219% to $271.18 million. Notably, this rising movement falls in line with the abovementioned listing.
Further, investors anticipate more gains in the Solana meme coin’s price against the backdrop of another bullish on-chain metric. A recent CoinGape Media report revealed that SLERF whale accumulation soared remarkably, underscoring significant buying pressure for the asset.
Meanwhile, it’s also noteworthy that SCRT price witnessed gains worth 2% intraday in the wake of the listing and is trading at $0.3393. The coin’s 24-hour low and high were $0.302 and $0.3791, respectively.
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
Vitalik Buterin, Coinbase’s Jesse Pollack Buy Super Anon (ANON) Tokens On Base
Ethereum co-founder Vitalik Buterin has purchased 30,303 ANON tokens, stirring excitement around the privacy-focused cryptocurrency. The transaction reflects a growing interest in decentralized anonymity, with Buterin’s involvement sparking speculations about ANON’s potential as a revolutionary token in the privacy space.
Joining Buterin, Coinbase executive Jesse Pollak has also acquired ANON tokens. This dual endorsement from prominent crypto figures has bolstered ANON’s debut, fueling curiosity about its role in shaping the future of private, self-sovereign transactions.
Vitalik Buterin and Jesse Pollak Support ANON
According to a November 21 post on X, Vitalik Buterin’s wallet (vitalik.eth) swapped 0.082 ETH for 30,303 ANON tokens on Base. This high-profile transaction has brought significant attention to ANON, a decentralized and privacy-focused cryptocurrency, ahead of its launch.
#PeckShieldAlert vitalik.eth (0xd8d) labeled address has swapped 0.082 $ETH for 30.3K Super Anon (ANON) on #Base pic.twitter.com/ESLwyLb4Wz
— PeckShieldAlert (@PeckShieldAlert) November 21, 2024
In addition, Coinbase executive Jesse Pollak mirrored this enthusiasm by spending 0.333 ETH to purchase 31,529 ANON tokens. The endorsement of ANON by influential industry leaders hints at its potential as the next major innovation in privacy tokens.
ANON, promoted as a self-sovereign and anonymous asset, aims to redefine privacy in cryptocurrency. These notable endorsements have positioned ANON to make a strong impact in the rapidly evolving blockchain ecosystem. Its launch has further amplified discussions on the future of privacy coins and decentralized privacy solutions.
Super Anon: A Revolutionary Step in Privacy?
Vitalik Buterin swapped 0.082 ETH for 30,303 Super Anon tokens to meet the minimum requirement for posting anonymously via Farcaster’s anoncast account. Earlier, the minimum was 30,000 tokens, but it has now been reduced to 15,000 ANON tokens, making it more accessible.
You need to have a minimum 15,000 $ANON tokens to post anonymously via anoncast account on Farcaster (earlier the min. amount was 30,000).
You can post on twitter too.
This is the reason why @VitalikButerin swapped 0.082 $ETH for 30.3K $ANON
good stuff pic.twitter.com/QHeGDlHUZW
— yash (@0x_yash21) November 21, 2024
Since Buterin’s purchase, Super Anon has surged by 550%. The token is currently trading at $0.0402, with a 24-hour low of $0.00887 and a high of $0.6367. This sharp price increase reflects rising interest in decentralized anonymity solutions, positioning ANON as a potential player in the privacy sector.
Buterin, a long-time advocate for Ethereum scalability, has also praised other blockchain projects like Starknet, which aims to enhance Ethereum’s scalability. His involvement in the Super Anon ecosystem further emphasizes his commitment to supporting innovative privacy solutions in the crypto world.
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
3 Trending Crypto Coins Ready to Soar by 100%
Excitement fills the cryptocurrency market as Bitcoin price reaches a historic achievement, hitting a record peak of $97,000. Although the top cryptocurrency is getting most attention, other major altcoins have also seen small increases, indicating stable growth throughout the market. In the midst of all this action, three crypto coins—XRP, EGO, and Minotaurus (MTAUR)—are gaining notable interest for their ability to provide substantial profits. These tokens are strategically placed to take advantage of the market’s positive sentiment, driven by new advancements and investor trust.
Trending Crypto Coins Poised to Skyrocket 100%
1. XRP (XRP)
XRP has gained attention recently because its price surged to approximately $1.12. This marks an impressive 58% surge in the last week, making it one of the best-performing assets within the top 20 largest cryptocurrencies based on market value. Analysts have a positive outlook on its future, forecasting a possible XRP price increase to $1.96 if it continues to confirm its bullish chart formations. A combination of market trends, regulatory certainty, and investor outlooks have led to its increasing appeal.
Ripple’s legal battle with the U.S. SEC is nearing a positive resolution, boosting confidence in XRP. The digital asset’s increasing adoption in global payments highlights its strength among top altcoins, making it one to watch.
Furthermore, XRP Ledger’s XLS-66D upgrade, which enhances the blockchain’s capacity for tokenized assets, has added another layer of optimism. With these advancements, XRP appears well-positioned for a significant price breakout.
2. EGO (EGO)
Meanwhile, EGO has captured attention with a dramatic price surge of 172% over the past month, driving a trading volume of approximately $1.42 million. Trading at $0.02479, this token has become a hot topic in the market, supported by strong technical indicators and investor confidence.
The Fear & Greed Index for EGO currently reads 83, signaling extreme bullish sentiment. Predictions suggest EGO could see a staggering 236% growth by December 2024, potentially reaching $0.061296.
EGO’s growth is connected to its function in the Paysenger platform, which links Web2 and Web3 environments. By allowing content creators to earn money through EGO tokens, the platform has gained a larger user community of more than 50,000 people.
The growing popularity of these tokens has led to a favorable environment for their continuous expansion, making it one of the best cryptos to buy.
3. Minotaurus (MTAUR)
In the gaming industry, Minotaurus (MTAUR) is establishing a unique position with its token model focused on practicality and quickly growing presale. MTAUR is currently valued at 0.00006 USDT, approximately 70% reduction. This gives early adopters an opportunity to benefit significantly, as it is planned to be listed at 0.00020 USDT, indicating a potential 234% rise.
The project has already achieved a milestone of 200,000 USDT in its presale phase, sparking excitement among crypto enthusiasts.
Minotaurus includes its token in an immersive gaming environment, providing options such as customizing avatars and entering exclusive in-game areas. Its strong token economics, planned for lasting viability, incorporates referral and vesting incentives.
Security audits conducted by SolidProof and Coinsult help to further increase market confidence. The excitement about the project is heightened by a 100,000 USDT prize, where one fortunate person will receive 50,000 USDT in MTAUR tokens. This pauses as a promising opportunity for those looking to capitalize on an early-stage cryptocurrencies.
A Bright Future Ahead for These Crypto Coins
With Bitcoin setting the pace with its unprecedented success, crypto coins such as XRP, EGO, and Minotaurus are following suit, displaying great potential ahead. These tokens, supported by strategic progress and strong investor support, showcase the expanding diversity and potential in the cryptocurrency market. With the ongoing bullish trend, these three assets have the potential to provide high returns that could significantly impact one’s life, making them important in the changing cryptocurrency market.
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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