Connect with us

Altcoin

Akash Network (AKT) Price Jumps 20% With Strong Trading Volumes, What’s Next?

Published

2 months ago

on


In the last 24 hours, the Akash Network (AKT) token has registered an impressive price rally recording a 20% surge and breaking past the crucial resistance of $5.0. As of press time, the Akash Network (AKT) price is trading at $5.66 with a market cap of $1.336 trillion with its daily trading volume skyrocketing 350% all the way to $232 million.

What’s Behind the Akash Network (AKT) Price Surge?

The team behind the project shared quarterly revenue growth for Akash Network on their X account. They reported significant growth within the $AKT ecosystem, generating over $140k in revenue during Q1 2024. This growth is attributed to increasing interest in DePIN and rising demand from developers, leading to higher usage of the AKT token.

Additionally, on May 8, the Akash Network team provided details about Praetor, a user-friendly platform for setting up a provider on Akash. Praetor App simplifies the process of becoming an Akash Network cloud provider by offering a streamlined UI. It also eliminates the need for Command-line Interface usage. The team noted that since merging with Overclock Labs in April, efforts to open-source Praetor are well underway.

The team shared comprehensive insights into the product strategy of the Praetor App (Akash Provider Console) on GitHub. According to the post, the Overclock and Praetor teams have collaborated closely to synchronize their product strategy and roadmap.

AKT Price Rally to Continue?

In the last 24 hours, Akash Network (AKT) has surged by 15.63%, reaching a current trading price of $5.64. The token has surpassed a diagonal trendline on the 4-hour timeframe and is striving to maintain the previous week’s high of $5.095 as a support level. According to TraderAAG, if AKT falls below this support, there might be a chance for a retest of the trendline, offering a potential opportunity to increase positions.

Trader Andrew Griffiths has recognized a cup and handle formation for AKT, forecasting an upward target ranging from $7.9 to $12.1.

✓ Share:

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

Hamster Kombat Sparks Speculations On Airdrop

Published

2 hours ago

on

July 4, 2024

By


The recent buzz of the P2E (play to earn) crypto sector, Hamster Kombat, a Telegram-based game, has continued amassing investor attention. Notably, as the token’s airdrop looms to take place this month, the Hamster Kombat community has recently posted on X, sparking discussions across the global crypto community.

In its post dated July 4, the community raised questions about when the launch, airdrop, and token generation will take place. The post has promptly attracted the attention of noteworthy prominencies.

Hamster Kombat Airdrop

With its post on X, the Hamster Kombat community sparked discussions around “wen launching?; wen airdrop?; wen TGE?.” Moreover, discussions also involved what the community was cooking for future developments.

Intriguingly, Azara.ton, a Co-builder at Ton France, also posted showcasing a sense of trust in the P2E project. These chronicles, collectively, have added an optimistic tint to the upcoming crypto on the TON blockchain.

CoinGape Media previously reported that the Telegram project plans its TGE and rolling out in-game token utility this month. However, the global community has yet to witness an official announcement from the project.

Also Read: Crypto Crackdown By South Korea To Delay Global Crypto Market Recovery, Here’s Why

Hamster Kombat P2E

Meanwhile, the Telegram game continues to garner attention among market participants across the globe. The gameplay mandates a user to complete 10 levels with their hamsters, reaching from bronze to the “Lord” level.

Completing this promises rewards with the upcoming airdrop, which the project says is underway.

In-game features include buying cards for passive income opportunities. These cards, varying from Markets, PR & Team, and many others, ‘mine’ the coins earned in-game for reward facilitation. Moreover, the game also offers attractive features like daily rewards, further magnetizing users globally.

Meanwhile, the community’s Telegram page spotlighted that Pavel Durov, founder and CEO of Telegram, also started playing the game. These developments, collectively, have echoed optimism for the P2E project across the crypto sector.

Also Read: Dogecoin Whale Bags 90M Tokens Amid Market Crash, What’s Next For DOGE?

✓ Share:

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.





Source link

Continue Reading

Altcoin

Dogecoin Whale Bags 90M Tokens Amid Market Crash, What’s Next For DOGE?

Published

3 hours ago

on

July 4, 2024

By


In an unprecedented development witnessed amid the broader crypto market’s phenomenal crash today, a Dogecoin whale turned heads with its massive accumulation. Recent on-chain insights reveal that a whale bagged a whopping 90 million DOGE from the Binance crypto exchange.

This accumulation has glimmered hope for Dogecoin’s future price endeavors despite its recent dip to the $0.11 price level. So, let’s delve deeper into the accumulation and DOGE’s current market dynamics.

Whale Bags 90M Coins Igniting Optimism

According to the insights provided by the blockchain tracker Whale Alert, 90 million DOGE tokens, worth $10 million, was accumulated by the whale address DGmzv39riE. This accumulation underscored the whale’s undeterred sense of confidence in the asset.

Crypto market whales are large-scale investors who market participants closely monitor to judge market mood, risks, and sentiment. Notably, massive accumulations usually add a bullish tint to a coin’s future prospects.

Further, as per data by Blockchair, the abovementioned address held a whopping 1.42 billion DOGE, worth $157.30 million. This data weighs the balance towards the bullish side for Dogecoin, as, despite the recent crash, the whale has refrained from selling. This could also mean that further price pumps may be imminent, as the correction is a short-term part of the ongoing bull run.

Simultaneously, at press time, DOGE remained in the negative territory despite the buying pressure brought upon the whale.

Also Read: Crypto Crackdown By South Korea To Delay Global Crypto Market Recovery, Here’s Why

DOGE Price Pullback, What’s Next

As of writing, the DOGE price chart showed signs of a pullback, tanking 7.08% to $0.1101. Its 24-hour lows and peaks were recorded as $0.1103 and $0.1196, respectively.

It is worth noting that Dogecoin corrected 10.46% over the past week, whereas the monthly chart showed a 30% crash. This slumping action comes in line with the broader market volatility.

Besides, a recent analysis by CoinGape Media spotlighted that an extended bearish movement could pave the road for DOGE to hit the $0.1 support level. Nonetheless, the whale accumulation has sparked riveting market sentiments, pushing Dogecoin market participants onto a hot seat.

Coinglass data added on to this uncertainty as DOGE’s Futures OI dipped 3.42% to $578.21 million, whereas derivatives volume upsurged 64.80% to $1.64 billion. This data hinted at uncertain investor sentiments prevailing in the market.

Also Read: Ripple Vs SEC Update — Lawyers Reveal How SEC’s Reply Impact Final Decision

✓ Share:

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.





Source link

Continue Reading

Altcoin

XRP Takes Bearish Turn As Whale Offloads 65M Coins, What’s Next?

Published

5 hours ago

on

July 4, 2024

By


Against the backdrop of the crypto market’s remarkable bearish movement today, an XRP whale has continued to dump significant amounts of coins to exchanges. Over the past day, nearly 65 million XRP was recorded to have been offloaded, raising severe concerns among crypto market participants.

XRP is currently feeling the heat of the broader market’s downtrend, as also seen by Bitcoin (BTC) slipping as low as the $57K mark. Further, the whale’s dump, despite the recent advancements in the XRP lawsuit, has curated a storm of speculations on future price movements.

Whale Dumps 65M Coins

In a couple of posts shared by the on-chain transaction tracker Whale Alert, it was pointed out that 64.70 million coins were shifted to CEXs via the same whale address. As per the data, the address …Rzn was registered to have been making the massive dump.

Intriguingly, the whale shifted 32.69 million XRP, worth $15.12 million, to the Bitso crypto exchange. Meanwhile, in another transaction, the whale shifted 32.01 million XRP, worth $14.82 million, to the Bitstamp crypto exchange.

The emergence of these transactions amid XRP showing signs of a pullback has raised bearish market sentiments. Also, it’s worth noting that speculations of this whale being linked to Ripple persist. For context, these transactions became a recurring phenomenon soon after Ripple strategically acquired a stake in Bitstamp.

In the interim, XRP price continued to dip, aligning with the whale’s massive dump and the broader market trend. Despite positive developments in the Ripple vs the U.S. SEC lawsuit, as Ripple filed a notice of supplemental authority, the XRP community is yet to witness a significant shift in market sentiment.

Also Read: German Govt Dumps Another 1300 Bitcoin To Coinbase, Kraken & Bitstamp

XRP Price Tanks

At press time, XRP price showed signs of a pullback, falling 6.84% to $0.4502. The Ripple-backed asset’s 24-hour lows and highs are $0.4486 and $0.4833, respectively.

XRP’s Futures OI dipped 10.08% to $547.41 million, coinciding with the price fall. However, the derivatives volume rocketed 86.88% to $1.58 billion. This hinted at an uncertain market sentiment for XRP.

Meanwhile, crypto analyst Dark Defender took to X, spotlighting the cryptocurrency’s turbulency below $0.4623. The analyst states that the volume is currently at a shallow level, indicating a lack of market activity with no selling or buying. This could potentially pave the way for a dip to $0.3917 should XRP close below $0.4623.

Crypto market enthusiasts continue to eye the token for vital shifts ahead.

Also Read: Ethereum Roll-Out EIP-7732 Proposing Major Shift In Block Validation Process, Here’s All

✓ Share:

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.





Source link

Continue Reading
Advertisement

Trending

Copyright © 2024 coin2049.io