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6 Cryptos To Duck Trading This Week As Price Risks Fall

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5 months ago

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The ever-evolving world of cryptocurrencies appears to be bracing for yet another seismic shift in the prices of certain tokens. As massive token unlocks loom over the horizon, 6 cryptos prepare to take the heat of increased market supply in the coming week.

Token unlocks, the periodic release of locked tokens into the market, can significantly impact the supply and demand dynamics. This event, often seen as a potentially bearish signal, is urging traders and investors to exercise caution and avoid trading specific cryptocurrencies. Here’s an overview of 6 cryptos that are about to face massive token unlocks in the coming days.

$45M Worth Token Unlocks Approaches

According to the data revealed by the Token Unlocks App, $45.72 million worth of cliff unlocks are set to occur over the coming week. The cryptos that will bore the brunt include AltLayer (ALT), Yield Guild Games (YGG), Ethena (ENA), SIngularityNET (AGIX), Acala (ACA), and 1inch (1INCH). So, let’s look at these unlocks that are approaching.

AltLayer (ALT)

As per the data, the AltLayer (ALT) crypto is set to face an unlock of a whopping 105.21 million ALT tokens, worth $20.03 million, on June 25. This totals a significant 6.92% of AltLayer’s circulating supply, signaling that a notable price dip ahead is possible with the unlock.

ALT price traded at $0.1903 today, down 4.15% in the past 24 hours.

Yield Guild Games (YGG)

Meanwhile, YGG will face an unlock of 16.69 million tokens, worth $1067 million, on June 27. The unlock is equivalent to 4.48% of the total circulating supply, posing a significant threat to price.

YGG price traded at 0.6387, a slip of 0.44% over the past day.

Ethena (ENA)

Simultaneously, ENA will encounter an unlock of 14.89 million coins, worth $8.88 million, on June 23. This totals 0.87% of the circulating supply, also emerging as a threat to future price actions.

ENA price tumbled 2.71% from yesterday to $0.5956.

SingularityNET (AGIX)

The AI coin that is set to witness a token merger to become ‘ASI’ will also witness a significant token unlock in the coming week. Notably, 8.57 million tokens, worth $5.51 million, will be unlocked on June 28. The unlock amount equals 0.67% of the circulating supply, a potential threat to price.

Meanwhile, AGIX traded at $0.6476, a slight 0.55% jump from yesterday.

Also Read: XRP Price: Whales Hoard 130M Coins As Ripple Lawsuit Goes To Magistrate Judge, What’s Next?

Acala (ACA)

The Acala crypto is set to experience an unlock of 4.66 million tokens, worth $328.52K, on June 25. This is equivalent to 0.46% of the circulating supply.

ACA traded at $0.07021, down 2.99% in the past 24 hours.

1inch (1INCH)

The 1INCH crypto will face a comparatively smaller 64.28K tokens unlock, worth $25.80K, on June 27. The amount is marginal, totaling 0.01% of the token’s circulating supply.

However, it’s worth noting that the 1inch price chart shows a monthly pullback. Further bearish factors might cause additional price dips.

Meanwhile, it’s worth noting that CoinGape Media earlier reported similar token unlocks over the past week, including Arbitrum (ARB), Space ID (ID), and other tokens. CoinMarketCap’s data shows that ARB plunged nearly 13% over the past week while ID dipped nearly 22% during the same duration.

Also Read: YieldMax Applies For Ether Options ETF Amid Spot Ethereum ETF S-1 Amendments

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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.

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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5 Key Indicators To Watch For Ethereum Price Rally To $10K

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7 hours ago

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November 21, 2024

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The Ethereum price has surged more than 7% recently, with recent indicators hinting towards a potential ETH rally to $10K ahead. Notably, the recent surge also indicates a bullish momentum for the crypto ahead. So, here we explore some of the top indicators that could propel an ETH price surge ahead.

5 Indicators To Watch For Ethereum Price Rally Ahead

A recent X post from top on-chain analytics platform IntoTheBlock highlighted that Ethereum often follows Bitcoin’s rallies. While mixed signals exist, certain metrics suggest optimism. The platform noted that whales continue accumulating ETH, indicating confidence in the asset’s long-term growth. Increased transaction volumes and minimal selling pressure from holders are also contributing to Ethereum’s positive outlook.

Ethereum price IntoTheBlockEthereum price IntoTheBlock
Source: IntoTheBlock, X

In addition, one critical indicator is daily transactions, which recently rose to 1.22 million from 1.1 million three months ago. This slight uptick reflects growing network activity and rising demand for Ethereum.

Another key metric is large holder netflow, which tracks the buying activity of whales. When whales accumulate, it reduces sell-side pressure and supports price appreciation. Short-term holder behavior also warrants attention.

Meanwhile, increased activity among short-term investors often aligns with heightened retail interest. The holding time of transacted coins is another bullish sign. A steady hold time suggests that long-term investors are retaining their assets, keeping supply constrained as demand grows.

Lastly, exchange flows reveal sentiment trends. Significant outflows from exchanges typically indicate accumulation, signaling confidence among investors.

Ethereum priceEthereum price
Source: IntoTheBlock, X

ETH Rally To $10K Imminent?

ETH price today was up nearly 8% and exchanged hands at $3,343, while its one-day trading volume rocketed 61% to $45.19 billion. In addition, Ethereum Futures Open Interest also rose more than 13%, indicating a strong market confidence towards the crypto.

Amid this, a top crypto market expert predicts ETH price to hit $10K in the coming days, sparking market speculations. However, despite that, a recent Ethereum price analysis hints that the top altcoin should soar past the $4K mark, before its further rally.

Having said that, a flurry of crypto market experts anticipates the crypto to continue its rally in the coming days. In addition, as BTC hits a new ATH recently, the market pundits expect the altcoins to follow suit, especially amid soaring optimism towards a clear regulatory path after Donald Trump’s election win.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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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Agency Reiterates “Digital Assets Securities” As XRP Eyes $2

Published

8 hours ago

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November 21, 2024

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Ripple SEC Lawsuit: The US Securities and Exchange Commission (SEC) hinted at “digital asset securities” claims amid the appeal in the Second Circuit Court. The move comes as XRP price surpassed $1 and expected a rally to $2 on Gary Gensler’s resignation and the end of XRP lawsuit during Donald Trump’s presidency.

US SEC Hints At Digital Asset Securities Claims In Ripple Lawsuit

In a PLI’s 56th Annual Institute speech last week, SEC Chair Gary Gensler reiterated “Bitcoin is not a security.” He also cleared the intention to continue considering XRP as security as he didn’t mention it along with “Bitcoin, ether, and stablecoins.”

“Our focus, rather, has been on some of the 10,000 or so other digital assets, many of which courts have ruled were offered or sold as securities. Putting this in context, aside from bitcoin, ether, and stablecoins, the rest of this market approximates $600 billion.”

Crypto lawyer James Murphy, also known as MetaLawMan slammed the US SEC for using the term “digital asset securities” again in an X post on Wednesday. Gensler and the SEC disregarded the court’s order on XRP security status in the Ripple SEC Lawsuit. This indicates that the agency failed to comply with its recent apology for using the term “crypto asset securities” in lawsuits.

The regulator appealed the summary judgment on XRP sales by Ripple, XRP distribution to employees and others by the company, and XRP sales on exchanges by CEO Brad Garlinghouse and Executive Chairman Chris Larsen. However, the recent crypto narratives amid President-elect Trump has sparked speculation of the end of SEC v Ripple lawsuit.

Will XRP Lawsuit Get Dismissed?

The crypto community called for the dismissal of the long-running Ripple SEC lawsuit and resignation of SEC Chair Gary Gensler. Also, Ripple CEO Brad Garlinghouse said he is expecting a resolution or end of the SEC lawsuit after Trump’s win.

Ripple CTO David Schwartz cleared that the company is legally obligated to Ripple shareholders and not XRP holders. While Ripple can work around legal clarity around XRP and digital assets, the prices of digital assets don’t depend on the efforts of the company. Schwartz and lawyers assert XRP lawsuit will likely get dismissed or settled with $125 million.

Meanwhile, lawyer Bill Morgan asserted that the price of XRP is not influenced by Ripple’s efforts as seen by long-term investors. Notably, Gensler’s hint at resignation and the potential end of Ripple SEC lawsuit triggered an XRP price rally to $1.

XRP Price Rally to $2

XRP price is currently holding at 0.702 Fib retracement level. Any strong upside momentum can trigger the next move to the $1.6–$2. The strong sentiment in the XRP community and Trump’s crypto policies will maintain bullishness in the crypto market.

Popular analyst CredibleCrypto suggests XRP will probably going to make new ATH “a lot quicker than most are expecting.” XRP/ETH just reclaimed and retested a 4-year long-range in the monthly chart, which signals a 250% higher target. He predicted a target of $2.
ImageImage

XRP price jumped over 1% in the past 24 hours and 60% in a week, with the price currently trading at $1.13. The 24-hour low and high are $1.07 and $1.15, respectively. Furthermore, the trading volume has increased by 7% in the last 24 hours, indicating a rise in interest among traders.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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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Dogecoin Whale Accumulation Sparks Optimism, DOGE To Rally 9000% Ahead?

Published

9 hours ago

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November 21, 2024

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Amid a highly bullish DOGE market witnessed recently, Dogecoin whales’ action to heavily accumulate the token has garnered significant attention among traders and investors globally. On-chain data indicates over 500 million coins were bought from crypto exchanges, signaling increased market confidence in the asset’s long-term prospects. In the wake of this market statistic amid a bull market, crypto watchers anticipate a staggering 9000% gain in the dog-themed coin’s price ahead.

Dogecoin Whale Accumulation Spikes As Over 500M Coins Bought Recently

As per an X post by the renowned crypto market analyst Ali Martinez on November 21, Dogecoin whales bagged over 550 million tokens, worth $214.5 million, from crypto exchanges over the past week. This massive purchase has put significant buying pressure on the asset, pointing out the potential for considerable upside movement ahead.

Dogecoin whale accumulationDogecoin whale accumulation

Notably, the leading dog-themed meme crypto already surfs bullish tides, primarily attributable to the broader market events. Mainly, with Elon Musk’s taking the D.O.G.E. (Department of Government Efficiency) role under Donald Trump’s cabinet, market sentiments surrounding the meme coin have turned highly bullish.

Aligning with this endeavor, a recent CoinGape Media report reveals that D.O.G.E leads Elon Musk and Vivek Ramaswamy further outlined a strategy to reduce the federal workforce under Trump’s presidency. This saga garnered significant attention to the meme coin which is also much touted by Musk. It’s noteworthy that Elon and Vivek are also starting a podcast named “dogecast.” These chronicles, in turn, bring substantial attention to Dogecoin.

Simultaneously, in light of these broader events and the massive buying pressure brought by whales, market watchers foresee a phenomenal rally ahead.

DOGE To Soar 9000% Ahead?

At press time, DOGE price gained slightly by 0.5% intraday and is resting at $0.387, amid a surge in Dogecoin whale activity. The coin’s 24-hour low and high were $0.3666 and $0.3956, respectively. Notably, the monthly chart for the meme coin showcases gains worth 173%. This bullish movement has sparked further investor curiosity despite the recent turbulent performance.

Notably, leading crypto analyst Ali Martinez further spotlights that for DOGE to finally witness a 9,000% parabolic rally, 40% to 50% corrections are sure to be expected. This bullish projection rides the back of historical trends, as the meme coin witnessed a 9,470% pump in 2017 with two major corrections of 40% and another at 84%. In addition, recent on-chain data also indicates a potential rally for top meme coins like DOGE, SHIB, and others, in the coming days.

Subsequently, the coin skyrocketed 30,700% in 2021, seeing two key pullbacks of 46% and 53%. These statements indicate substantial potential for Dogecoin to pump ahead in the light of a broader bull meme coin market, further accompanied by massive whale accumulations.

Ali Martinez post on DogecoinAli Martinez post on Dogecoin

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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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