Altcoin
A.I Cryptocurrency Internet Computer (ICP) Takes A Further 10% Hit, Here’s Why
The cryptocurrency market is no stranger to volatility, but the recent performance of Internet Computer (ICP) has raised eyebrows as it takes another 10% hit. Despite its ambitious goals and high-profile partnerships, Internet Computer (ICP)’s price continues to struggle. As the market watches this downturn, a new contender, Mpeppe (MPEPE), is gaining attention with its promising presale performance. The question on everyone’s mind is: why is ICP faltering, and could Mpeppe (MPEPE) be a better investment?
The Rise and Fall of Internet Computer (ICP)
Internet Computer (ICP) was launched with a bold vision—revolutionizing the internet by enabling developers to build websites, enterprise IT systems, and internet services directly on its blockchain. The project, led by the DFINITY Foundation, aimed to decentralize the web, offering a new era of internet freedom and efficiency. However, despite its initial success and substantial backing, Internet Computer (ICP) has faced significant challenges in maintaining its market value.
Recently, Internet Computer (ICP) experienced a 10% drop, continuing a downward trend that has been difficult for the token to shake off. Several factors have contributed to this decline, including market sentiment, competition from other projects like Mpeppe (MPEPE), and the complexities involved in the Internet Computer (ICP) ecosystem.
ICP’s Involvement in Crypto AI
One of the most recent developments for Internet Computer (ICP) was its partnership with Crypto AI, Europe’s leading Crypto AI conference, as a title sponsor. Announced in August 2024, this partnership was seen as a strategic move to align ICP with the growing field of artificial intelligence (AI) within the blockchain industry. The conference, set to take place in November 2024 in Lisbon, has attracted numerous high-profile speakers and influencers, further solidifying its significance in the crypto world.
While the partnership with Crypto AI was expected to bolster Internet Computer (ICP)’s market presence, the market’s reaction has been lukewarm. The recent 10% drop in Internet Computer (ICP)’s price reflects investor uncertainty about the project’s long-term viability. Meanwhile, Mpeppe (MPEPE) has been making waves with its presale, nearing the completion of Stage 3, with over 97% of tokens already sold. This stark contrast in performance highlights the growing interest in Mpeppe (MPEPE) as a potential game-changer in the crypto space.
Market Sentiment and Competition
While Internet Computer (ICP) continues to push forward with its ambitious goals, the broader market sentiment has not been favorable. Investors have expressed concerns about the project’s complexity, the steep learning curve associated with its ecosystem, and the slow pace of adoption compared to other blockchain projects. These factors have contributed to a sense of hesitation among potential investors, leading to a decline in Internet Computer (ICP)’s price.
Furthermore, competition from other blockchain platforms, such as Ethereum and newer projects like Mpeppe (MPEPE), has intensified. Mpeppe (MPEPE), in particular, has gained significant traction in the market, rallying 150% in its presale stages and attracting a wave of investors looking for the next big opportunity. The rise of such competitors has put additional pressure on ICP to prove its value proposition in an increasingly crowded market.
Strategic Partnerships and Future Outlook
Despite the recent challenges, Internet Computer (ICP) has not been without its successes. The partnership with Crypto AI, along with other strategic alliances, highlights Internet Computer (ICP)’s ongoing efforts to remain relevant in the fast-evolving crypto landscape. The involvement of Internet Computer (ICP) in high-profile events and its collaboration with key industry players demonstrate the project’s potential to make a significant impact in the long run.
However, the immediate future for Internet Computer (ICP) remains uncertain. The recent 10% drop is a stark reminder of the market’s volatility and the challenges that even well-established projects face. To regain investor confidence, Internet Computer (ICP) will need to deliver on its promises and show tangible results in terms of adoption and real-world applications.
In contrast, Mpeppe (MPEPE) continues to shine as its presale progresses. With the strong momentum in Stage 3 and the potential for substantial returns, Mpeppe (MPEPE) is positioning itself as a strong competitor in the meme coin space. Investors are taking notice, and the excitement around Mpeppe (MPEPE) suggests that it could be the next big thing in the crypto world.
Conclusion: ICP’s Road Ahead
Meanwhile, Mpeppe (MPEPE) is rapidly gaining ground, with its presale performance indicating strong investor interest and the potential for significant growth. As the cryptocurrency market continues to evolve, the battle for dominance among blockchain platforms will only intensify. Mpeppe (MPEPE) is emerging as a major player in this space, offering a fresh opportunity for investors looking to capitalize on the next wave of innovation in the crypto world.
For more information on the Mpeppe (MPEPPE) Presale:
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Altcoin
Ethereum Foundation Launches Pectra Tesnet ‘Mekong’, ETH Price Set For $4000
Ethereum Foundation on Thursday announced launch of its first short-lived Pectra testnet ‘Mekong.’ This testnet includes all the EIPs proposed for the upcoming Pectra upgrade on the Ethereum network. Will this trigger ETH price rally to $4000 as the price jumped 8% in the last 24 hours?
Ethereum Foundation Introduces Mekong Tesnet for Pectra
In an official announcement by Ethereum Foundation on November 7, the first short-lived Mekong testnet was introduced after scoping the Pectra fork and four DevNet events
The foundation said the Mekong testnet consists of all the EIPs proposed for the next major Pectra upgrade. It includes changes such as UX changes via EIP-7702, staking changes via EIP-7251, changes to the deposits and exit mechanisms via EIP-6110 and EIP-7002.
The Mekong testnet is focused on wallet developers to engage with UX changes and for stakers to gain confidence in the upcoming changes. This is a short-lived testnet but the features included will make it into existing public testnets and finally the mainnet.
In addition, Ethereum developer Tim Beiko reveals ethPandaOps has introduced this short-lived Pectra testnet Mekong to introduce major changes in mainnet. Also, this helps the crypto community try out EIP-7702, MaxEB consolidations, and more.
Moreover, Ethereum Foundation developer Parithosh recommended wallet teams to try Mekong testnet at the DevCon Week, which will run the entire week of November 9-17.
If you want something to hack on at DevCon, try out the Mekong testnet!
All the pectra EIPs are live: so you can brainstorm your EIP-7702 wallet user flows, deposit a validator to use MaxEB and exit a staking pool validator with a smart contract! https://t.co/GXEqhjrDjS
— parithosh | 🐼👉👈🐼 (@parithosh_j) November 7, 2024
ETH Price to Hit $4000
Bullish sentiment surrounding Donald Trump’s win and DevCon event has triggered the rally. Moreover, the launch of the Mekong testnet to fuel ETH price further. Notably, analyst Benjamin Cowen predicted Ethereum price rally after a bottom formation confirmation in the ETH/BTC pair above the 50 DMA.
Popular analysts Michael van de Poppe and Ali Martinez said Ethereum is in the early bull run stage. With the Pectra upgrade expected to take place in early 2025, whales are likely to buy the dip. Michael van de Poppe suggested that the markets are rotating and ETH will see a massive pump. Notably, a higher-low formation will bring much-awaited upward momentum.
Also, Ali Martinez added that MVRV Momentum crossing its 180-day has historically signaled a period of outperformance for ETH price. The cross hasn’t happened yet and gives an opportunity to buy the dip for more upside ahead for the $4000 psychological level.
ETH price today jumped 8% to a 3-month high, with the price currently trading at $2,800. The 24-hour low and high are $2,611 and $2,878, respectively. However, the trading volume has decreased by 6% over the last day.
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
Why Bitcoin Users Are Moving to Altcoins? As Ethereum Price Jumps 11%
Although the Bitcoin price rally has paused above $75,000 a day after Donald Trump’s victory, altcoins have continued their strong show with the Ethereum price taking the lead with 11% gains all the way to $2,850 levels. Investors have a lot of questions as to does this mark the beginning of the much-awaited altseason moving ahead.
Altcoins Steal the Limelight from Bitcoin?
On the day of Donald Trump’s victory on November 6, the Bitcoin price touched its all-time high levels surging all the way to $75,000. While the bulls try to defend these levels, altcoins seem to grabbing the investors’ focus.
The Ethereum price has managed to pull off 12% gains moving all the way to the $2,850 level and eying further rally to its all-time high levels. This comes despite strong selling pressure from Ethereum whales. Popular crypto analyst IncomeSharks noted that the ETH price has given a crucial breakout from the downward trendline slope, which opens the gates for a 75% rally from here to new all-time highs.
$ETH – Breakout. 75% move from here to an all time high. $3k first. pic.twitter.com/29KJzgk4Ex
— IncomeSharks (@IncomeSharks) November 7, 2024
Furthermore, after hitting the lower lows over the past few months, the ETH/BTC trading pair has notched up a bit. “With ETH/BTC at 0.035 it definitely makes sense to start hedging,” added Cowen. However, he added that for the bottom formation confirmation, the ETH/BTC pair must end above the 50 DMA.
I would watch #ETH / #BTC here.
If it can get above the 50D SMA, the there is a good chance that ETH/BTC has bottomed. pic.twitter.com/dXNYj2sDvY
— Benjamin Cowen (@intocryptoverse) November 7, 2024
Apart from Ethereum price surge, other altcoins like Solana made strong gains on Donald Trump’s victory. The Solana price has surged to $188 once again as talks about the approval of spot Solana ETF in the Trump presidency gain traction. As a result, analysts predict an SOL surge to $300 levels from here.
Will BTC Lose the Grip Over the Market?
Some market analysts state that it is still early to call the altseason and expect Bitcoin dominance to grow even further. Also, this could just be the beginning of the next major Bitcoin bull run.
Veteran trader Peter Brandt shared an optimistic outlook for Bitcoin, suggesting it has entered a “sweet spot” in the current bull market halving cycle. According to Brandt, Bitcoin is on track to peak between $130,000 and $150,000 by August or September of next year, marking a potential new high for the cryptocurrency.
Echoing similar thoughts, crypto analyst Ali Martinez noted that the next BTC top usually happens after 8 to 12 months following a monthly close above the previous all-time highs. Thus, he expects the next BTC top to happen anywhere between July to November 2025.
Historically, #Bitcoin has reached market tops roughly 8 to 12 months after achieving a monthly close above its previous all-time high.
If this pattern continues, the next potential market top for $BTC could occur between July and November 2025. pic.twitter.com/aWBZDBpUea
— Ali (@ali_charts) November 6, 2024
According to blockchain analytics firm CryptoQuant, Bitcoin’s recent all-time high doesn’t signal an overvaluation relative to its cost basis. The firm’s data on the MVRV ratio suggests that BTC remains well below peak levels. Additionally, Bitcoin’s price is close to traders’ average purchase cost, indicating that the market is not currently overheated. These insights point to the potential for continued growth in Bitcoin’s value.
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
XRP Price At Risk As Ripple Moves $250M?
The XRP price has come under the spotlight following Ripple’s recent $250 million XRP transfer. This comes amid bullish predictions for the coin, with analysts saying that its price could enjoy a parabolic rally following Donald Trump’s win.
The XRP Price At Risk With Ripple’s $250 Million Transfer
The XRP price is at risk of a decline following Ripple’s transfer of $250 million worth of XRP to an unknown wallet. Onchain data shows that the crypto firm transferred 470 million XRP to this wallet (rP4X2…sKxv3). This unknown wallet has since transferred 100 million XRP to another wallet (rhWt2…E32hk).
The purpose of the $250 million transfer remains unclear. However, it could relate to Ripple’s On-Demand Liquidity (ODL) services or the ongoing SEC appeal case.
This development comes just a day after XRP whales moved $814 million, indicating whale accumulation. While the Ripple transfer is unlikely to impact the XRP price since it will likely be done over the counter (OTC) if it is a potential sale, it could still create a bearish sentiment among XRP investors.
However, crypto analysts are confident that XRP is currently in bullish territory following Donald Trump’s win in the US presidential elections. The coin could surge up to 3,336% as crypto analyst StephIsCrypto predicted a major above $2 following Trump’s victory.
A Price Surge Above $20 By Year-End
In an X post, Crypto analyst Amonyx made a bold prediction, stating that the XRP price will rise above $20 by year-end. In another X post, the analyst suggested that he was confident that this price surge would happen with the US SEC chair Gary Gensler set to be removed following Donald Trump’s victory.
Gensler’s removal is bullish for the XRP price because he has spearheaded the long-running legal battle against Ripple. The legal battle could have negatively impacted XRP all this time, creating doubts in investors’ minds.
However, with Gensler gone and the Ripple SEC lawsuit likely to end, investors could again become bullish on XRP and look to invest more in the crypto. Crypto analyst Ross Vandermeer also predicted that the XRP price could eventually rise to $1,000 thanks to Donald Trump’s US election victory.
Ripple CEO Brad Garlinghouse recently called on the US president-elect to fire Gary Gensler on day 1, just like he promised. Meanwhile, Ripple chief legal officer (CLO) Stuart Alderoty urged Trump to end the regulation-by-enforcement approach to position the US as the crypto capital.
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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