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Ethereum Rebounds After Bybit Hack

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Ethereum (ETH) has shown signs of recovery after a sharp decline caused by the Bybit hack, which impacted its price. Despite this bounce back, ETH is still down nearly 18% over the past 30 days, reflecting continued volatility.

Notably, ETH’s RSI has rebounded to 58.6 from a low of 39.2 during the sell-off, indicating renewed buying pressure. This recovery in RSI suggests that market sentiment is gradually improving, potentially setting the stage for further price gains if momentum persists.

ETH RSI Has Recovered From the Recent Dip

ETH’s RSI is currently at 58.6, a notable increase from the 39.2 level it reached after the Bybit hack significantly impacted its price.

The recovery in RSI reflects the buying momentum ETH has gained since the sharp decline.

This upward movement in RSI suggests that buying pressure has returned, helping Ethereum price stabilize and potentially paving the way for further price gains if momentum continues.

ETH RSI.
ETH RSI. Source: TradingView.

RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with thresholds at 30 and 70.

An RSI below 30 is generally considered oversold, indicating potential buying opportunities, while an RSI above 70 is considered overbought, signaling a possible price correction.

ETH’s RSI is currently at 58.6, positioned in a neutral zone but leaning towards bullish momentum. This level suggests Ethereum still has room to grow before reaching overbought territory, potentially leading to continued price appreciation as buying interest remains steady.

Ethereum Whales Accumulated After Bybit Hack

The number of Ethereum whales – addresses holding at least 1,000 ETH – has been rising steadily over the past month, increasing from 5,680 on January 25 to 5,828 on February 22.

This marks the highest level since December 2023, signaling renewed interest and accumulation among large holders. The increase in whale addresses suggests that institutional investors or high-net-worth individuals are building positions, potentially anticipating future price gains, especially between February 21 and February 22, when ETH prices decreased following the Bybit hack.

This growing accumulation could provide a solid foundation for ETH’s price to rise.

ETH Whales.
ETH Whales. Source: Glassnode.

Tracking Ethereum whales is crucial because their buying and selling behavior can significantly impact the market.

When whales accumulate, it reduces the circulating supply, potentially driving prices up as demand meets reduced availability. Conversely, when they sell, it can create significant downward pressure on prices.

Currently, the rise in whale addresses indicates growing confidence and a bullish sentiment among large investors.

Although this is the highest level since December 2023, it is still relatively low compared to historical data. This suggests there is room for more accumulation. If this trend continues, it could lead to a sustained upward movement in ETH price as demand outpaces supply.

Will Ethereum Finally Rise Back Above $2,900?

Ethereum’s EMA lines suggest that a golden cross could form soon. A golden cross typically signals a bullish trend and potential upward momentum.

If this occurs, Ethereum could first test a price level near its long-term line (the blue line in the chart) around $2,876. Breaking this resistance could open the door for a move to $3,020.

If the uptrend continues with strong momentum, ETH could even reach as high as $3,442.

ETH Price Analysis.
ETH Price Analysis. Source: TradingView.

However, ETH has struggled to reclaim levels above $2,900 in recent attempts, signaling possible resistance and market hesitation.

If it fails to break through once more and a downtrend begins, ETH price could test the $2,551 support level. Losing this support could result in a sharper decline, potentially falling to $2,159.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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3 Token Unlocks for the Last Week of February: PORTAL, ALT, NFP

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Token unlocks are events when blockchain projects release previously restricted tokens to the market. These events are carefully planned to manage market impact and volatility

Often, these token unlocks lead to notable price movements. Here are three major token unlocks scheduled for the upcoming week:

1. Portal (PORTAL)

  • Unlock Date: February 28
  • Number of Tokens to be Unlocked: 25.61 million PORTAL (2.56% of max supply)
  • Current Circulating Supply: 167.1 million PORTAL
  • Total Supply: 1 billion PORTAL

Portal is the native utility token for a cross‑chain Web3 gaming platform that unites gamers and developers across multiple blockchain networks. The upcoming unlock will release tokens from several rounds of allocation. 

For instance, the Team & Advisors allocation will increase by approximately 920,000 tokens, while the Treasury allocation will add around 3.31 million tokens. 

With three rounds still pending, this unlock could inject fresh liquidity into the market, potentially affecting price dynamics and incentivizing further ecosystem development.

2. AltLayer (ALT)

  • Unlock Date: February 25
  • Number of Tokens to be Unlocked: 240.80 million ALT (2.41% of total supply)
  • Current Circulating Supply: 2.55 billion ALT
  • Total Supply: 10 billion ALT

AltLayer is a decentralized protocol designed to help blockchain developers launch and optimize Layer‑2 rollups via its “restaked rollup” mechanism. The ALT token plays a vital role in staking, governance, and protocol fee payments. 

This unlock is distributed across several allocations: Foundation/Treasury, Protocol Development, Ecosystem & Community, Team, Seed Round, Strategic Round, and Strategic Partners. The significant token release will likely enhance liquidity and further support AltLayer’s scaling and security initiatives.

Previously in 2024, ALT saw a significant drop in price ahead of its $100 million token unlock. However, the upcoming unlock is significantly smaller, but market volatility should be expected.

3. NFPrompt (NFP)

  • Unlock Date: February 27
  • Number of Tokens to be Unlocked: 14.51 million NFP (1.45% of max supply)
  • Current Circulating Supply: 395.3 million NFP
  • Total Supply: 1 billion NFP

NFPrompt is an AI‑powered content creation platform for Web3, empowering users to generate and monetize digital art and NFTs using advanced AI tools. The native NFP token is used for staking, payments, contest participation, and governance.

In this unlock, allocations will come from the Short-Term Growth Fund, Long-Term Treasury Fund, Team, and Investors. This release will add fresh tokens to the circulating supply, potentially impacting the token’s liquidity and market sentiment.

Overall, these unlocks represent nearly $17.71 million worth of tokens entering the market this week. 

With fresh liquidity and increased participation in governance and staking, investors and community members should watch for potential price volatility and strategic shifts in each project’s roadmap.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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KAITO Price Drops After Failing to Break $2 Barrier

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KAITO’s recent airdrop surprised many, sparking initial excitement. However, the token is now struggling to maintain user interest—a common issue seen with other airdrops. The altcoin is down 7% in the last 24 hours, highlighting short-term selling pressure, but it remains up 60% since launch.

Currently, KAITO BBTrend is negative at -10.7, signaling persistent bearish momentum, while its ADX at 13.49 shows a lack of clear trend direction. With price movements fluctuating between potential support at $1.35 and resistance above $2, KAITO faces a critical moment to either consolidate gains or continue its downward correction.

KAITO BBTrend Is Stable, But Negative

KAITO BBTrend is currently at -10.7, reflecting a sharp reversal after reaching an all-time high of 10.8 just yesterday.

This dramatic decline marks a shift from strong bullish momentum to negative territory in less than 24 hours, indicating increasing selling pressure.

The rapid change suggests a bearish sentiment is taking over, as BBTrend turning negative often signals the start of a downtrend.

With KAITO BBTrend hovering around -10 and -11 for the last several hours, it highlights persistent weakness and a potential continuation of the bearish trend.

KAITO BBTrend.
KAITO BBTrend. Source: TradingView.

BBTrend, or Bollinger Band Trend, is an indicator used to measure market momentum and trend direction by analyzing the position and movement of prices within Bollinger Bands.

It fluctuates between positive and negative values, with positive readings indicating bullish momentum and negative readings signaling bearish momentum. With KAITO BBTrend currently at -10.7, the negative value suggests that selling pressure is dominant and downward momentum is likely to continue.

This bearish signal raises concerns about KAITO price stability, as the persistent negative trend could lead to further price declines if buying interest does not return to counter the selling pressure.

KAITO ADX Shows the Lack of Trend Direction

KAITO ADX is currently at 13.49, showing a sharp decline from 60 just two days ago and 45 yesterday. This rapid decrease indicates a significant loss of trend strength, suggesting that the previous momentum has faded.

ADX measures the strength of a trend regardless of its direction, and a drop of this magnitude points to weakening momentum and a potential shift to a neutral or undefined trend.

The current ADX level reflects a market lacking clear direction, which is consistent with the observation that KAITO’s EMA lines are very close to each other, indicating indecision among traders.

KAITO ADX.
KAITO ADX. Source: TradingView.

ADX, or Average Directional Index, is a technical indicator used to measure the strength of a trend rather than its direction. It ranges from 0 to 100, with values above 25 typically indicating a strong trend and values below 20 suggesting a weak or non-existent trend.

With KAITO ADX at 13.49, it signals that the current trend is extremely weak and lacks conviction. This low ADX value suggests that KAITO price movement may remain range-bound or choppy until a stronger trend emerges.

The absence of a clear trend direction, combined with closely aligned EMA lines, points to a period of consolidation or sideways trading for the altcoin.

Will KAITO Price Reach Levels Above $2 Soon?

KAITO reached an all-time high near $2 on February 21, but shortly after, it began to correct downward. This pullback suggests profit-taking or weakening buying pressure after hitting the peak.

If the correction continues, KAITO could test the support level at $1.35, a crucial point to maintain its bullish structure.

KAITO Price Analysis.
KAITO Price Analysis. Source: TradingView.

Should this support fail, KAITO could face a deeper decline, potentially dropping below $1.2 or even as low as $1.1, reflecting increased selling pressure and bearish sentiment.

However, if KAITO can establish a strong uptrend, it could reverse the current correction and surge above $2, challenging the resistance at $2.12. Successfully breaking this level could pave the way for a new all-time high, with the next target at $2.2.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Binance Founder CZ’s DEX Trade Sparks Rally for TST Meme Coin

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The Binance Smart Chain (BSC)-based meme coin, TST, has jumped nearly 50% in the past 24 hours, reaching a one-week high.

The price spike comes after Binance co-founder Changpeng Zhao (CZ) conducted his first-ever decentralized exchange (DEX) trade involving the token.

CZ Trades on a DEX for the First Time Using TST

On February 22, CZ executed his first-ever DEX trade, purchasing TST and providing liquidity.

He admitted facing difficulties since he had never used a DEX before, having always traded on centralized exchanges (CEX).

“I wanted to put a few BNB in TST liquidity pool, as a test. I had seen demos of Pancake before. It looked so simple. I thought how hard could it be? But I forgot my IQ level,” Zhou stated.

Despite stepping back from Binance’s daily operations, Zhou’s actions continue to shape market sentiment. His unexpected move has sparked speculation across the crypto community. Some users on X believe it hints at a potential new Binance-related product or initiative.

Meanwhile, the Binance founder stated that his goal was to contribute Binance Coin (BNB) to the TST liquidity pool, but navigating the unfamiliar interface proved challenging. Liquidity providers help facilitate trades and, in return, receive a share of transaction fees.

Blockchain analytics platform Lookonchain reported that CZ spent 1 BNB (worth $660) to acquire 5,388 TST. He later contributed 1,111 TST and 0.096 WBNB (worth $64) to the liquidity pool.

“I didn’t follow any video tutorials. I kinda wanted to see what a first experience would be like. As a noob, I have to say the DEX experience can be improved, a lot! The error messages don’t make any sense. There are probably bots trying to front run my public address (or any large transaction I suspect). And why can everyone watch what I was doing in real time?” CZ wrote on X (formerly Twitter).

Following his DEX trade, TST’s value surged by over 50%, showing how influential his involvement remains.

TST meme coin
TST Meme Coin Weekly Price Chart. Source: GeckoTerminal

However, the token still trades significantly below its all-time high of $0.47, recorded on February 9.

TST was initially launched as a test token by BSC meme coin deployer Four.Meme. CZ’s social media mention of the asset brought significant attention.

While some view it as an experimental trade, critics argue that his involvement inadvertently boosted engagement on the BNB Network.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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