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Is Metaverse Making a Comeback?

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The Sandbox (SAND) has seen a significant price surge in recent weeks, with the altcoin rallying by 239% throughout November. This surge brought SAND to a 22-month high, leading many to question whether this price increase signals a resurgence of the Metaverse. 

As SAND continues to gain momentum, market observers are closely watching for further signs of the Metaverse’s revival in the crypto space.

The Sandbox Investors Note Gains

Recent data from the GIOM (Global In/Out of the Money) indicator shows that approximately 525 million SAND, valued at over $417 million, are approaching profitability. This supply was purchased between the price range of $0.60 and $0.82. 

As of today, SAND reached an intra-day high of $0.89, pushing this previously dormant supply into profit. If these holders continue to hold their positions, the potential for further price increases is high. This could drive SAND even higher, potentially fueling more bullish momentum in the near future.

SAND GIOM
SAND GIOM. Source: IntoTheBlock

The macro momentum of The Sandbox is influenced by the distribution of SAND tokens. Currently, short-term holders, those holding for less than a month, make up approximately 22% of all SAND in circulation. 

This high concentration of short-term holders means that any significant sell-off by this group could lead to a correction in price. Short-term holders tend to react quickly to market movements, and if they choose to lock in profits, it could introduce downward pressure on the price.

SAND Supply Distribution
SAND Supply Distribution. Source: IntoTheBlock

SAND Price Prediction: Growth Ahead

SAND hit a 22-month high of $0.89 over the last 24 hours, rising by approximately 45%. This surge marks an impressive milestone for the altcoin, but the sustainability of this rally depends on broader market conditions. If the Metaverse narrative continues to gain traction and positive sentiment persists, SAND could maintain its upward trajectory.

The next key resistance level for SAND is $1.00, a psychological barrier that could trigger further gains if surpassed. However, if the broader crypto market faces a downturn or if short-term holders decide to sell, SAND could face a correction. In that case, the altcoin might test support levels around $0.70 or lower.

SAND Price Analysis.
SAND Price Analysis. Source: TradingView

Ultimately, SAND’s price will be influenced by market sentiment and the broader adoption of Metaverse platforms. If The Sandbox can maintain its appeal and attract long-term investors, it could see further gains, potentially revisiting its previous all-time highs. However, investors should remain cautious of the volatility driven by short-term market participants.

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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Dogecoin Holding Time and Whale Activity Spikes

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Dogecoin (DOGE), a leading meme coin, is signaling a potential breakout from its narrow trading range.

If this momentum continues, it could reclaim its multi-year high of $0.48, fueled by extended holding periods and increased accumulation by large holders.

Dogecoin Investors Reduce Distribution

The on-chain assessment of DOGE’s performance has revealed a significant spike in the holding time of all its coins transacted in the past seven days. According to IntoTheBlock, this has climbed by 302% during the review period. 

The holding time of an asset’s transacted coins represents the average duration tokens are kept in wallets before being sold or transferred. 

Longer holding periods like this reduce selling pressure in the DOGE market. This reflects stronger investor conviction, as investors choose to keep their coins rather than sell them. 

Dogecoin Holding Time
Dogecoin Holding Time. Source: IntoTheBlock

In addition to reducing selling activity, DOGE whales have increased their holdings over the past week. This is reflected by the 112% uptick in its large holders’ netflow during that period.

An asset’s large holders’ netflow metric tracks the movement of coins into and out of wallets controlled by whales or institutional investors. When this metric spikes, it suggests that these large holders are accumulating more of the asset, signaling increased confidence in its future price movement.

Dogecoin Large Holders Netflow
Dogecoin Large Holders Netflow. Source: IntoTheBlock

DOGE Price Prediction: Bullish Run Could Continue

If this bullish momentum is maintained, DOGE will extend its weekly 3% spike. As buying pressure strengthens, the meme coin could revisit its four-year high of $0.48.

Dogecoin Price Analysis
Dogecoin Price Analysis. Source: TradingView

However, this bullish outlook will be invalidated if accumulation stalls and selling activity recommences. In that scenario, DOGE’s price could slip to $0.29.

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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Base DEX Volume Approaches $3 Billion Amid Growing Adoption

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Base, Coinbase’s Layer-2 (L2) blockchain solution, has reached new heights, setting an all-time high daily decentralized exchange (DEX) trading volume near $3 billion.

This milestone reflects Base’s growing prominence in the L2 space and its role in scaling on-chain transactions for Coinbase users.

Base Hits New Milestone in DEX Volume

Blockchain analyst Dan Smith highlighted Base L2’s record-breaking volume of $2.9 billion, including $1.3 billion in ETH-USD trading, which also hit an all-time high. Other trading pairs, such as ETH-cbBTC and BTC-USD, were close to breaking their own records.

Base DEX Volume By Pair Type
Base DEX Volume By Pair Type. Source: Blockworks Research

The $2.9 billion DEX volume reflects Base’s growing appeal among traders, particularly in ETH-USD pairs, which benefited from recent price volatility. Alexander, another blockchain enthusiast, noted that this milestone marked the first time Base nearly tagged $3 billion in daily volume, alluding to the development as evidence of L2’s growing adoption.

AerodromeFi, a liquidity-focused decentralized protocol on Base, also recorded an all-time high of $1.68 billion in volume, further emphasizing the ecosystem’s momentum.

“This is the first time Base nearly passed $3 billion and AerodromeFi set a new ATH of $1.68 billion in volume,” Alexander commented.

Base’s success is particularly notable because it operates without a native token. Coinbase explicitly ruled out launching a token for Base, prioritizing ecosystem growth and user adoption instead. This approach has likely contributed to its traction by focusing on utility and reducing speculative risks that could deter long-term users.

“There are no plans for a Base network token. We are focused on building, and we want to solve real problems that let you build better,” Base lead developer Jesse Pollak stated recently.

Consistent Growth in Transactions and TVL

The recent achievement follows Base’s earlier milestones, including reaching one billion transactions two months ago and surpassing six million daily transactions in October. More closely, the network recently outpaced Ethereum in user growth amid growing crypto markets.

Additionally, Base’s Total Value Locked (TVL) has seen consistent growth, indicating increased user participation, asset inflows, and liquidity within its ecosystem. A rising TVL signals greater confidence in the platform, fostering a stronger and more sustainable DeFi environment.

Base TVL and DEX Volume
Base TVL and DEX Volume. Source: DefiLlama

Despite its impressive growth, Base has faced some criticism. The network was accused of copying aspects of an NFT project, sparking concerns over originality and intellectual property. While this controversy did not deter adoption, it highlights the challenges of rapid innovation in the competitive blockchain space.

Base’s trajectory positions it as a serious contender in the L2 space, competing with established players like Arbitrum (ARB) and Optimism (OP). Its emphasis on utility, combined with rising user participation and liquidity, paints a promising picture for its future.

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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Is a Drop Below $0.92 Inevitable?

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Cardano’s recent sideways price action has led to a surge in demand for short positions among futures traders.

As the coin’s momentum slows, traders are increasingly betting on a price decline, signaling a bearish sentiment toward ADA.

Cardano Traders Bet on a Price Decline

According to Coinglass, ADA’s Long/Short Ratio is at a monthly low of 0.82, indicating a high demand for short positions.

An asset’s Long/Short Ratio compares the number of its long (buy) positions to short (sell) positions in a market. As with ADA, when the ratio is below one, more traders are betting on the price falling (shorting) rather than rising. If short sellers continue to dominate, this can increase the downward pressure on the asset’s price.

ADA Long/Short Ratio
ADA Long/Short Ratio. Source: Coinglass

Additionally, ADA’s Weighted Sentiment remains negative, currently standing at -0.074, reinforcing the bearish outlook for the altcoin.

Weighted Sentiment gauges the overall market bias by analyzing the volume and tone of social media mentions. A negative value signals growing skepticism among investors, often leading to reduced trading activity and downward pressure on the asset’s price.

ADA Weighted Sentiment.
ADA Weighted Sentiment. Source: Santiment

Notably, ADA whales have reduced their trading activity over the past week, with the coin’s large holders’ netflow dropping by 90.29%, according to IntoTheBlock.

Large holders, defined as addresses holding more than 0.1% of an asset’s circulating supply, play a significant role in market movements. A decline in their netflow indicates reduced buying activity, adding to the downward pressure on ADA’s price.

ADA Large Holders Netflow.
ADA Large Holders Netflow. Source: IntoTheBlock

ADA Price Prediction: Recovery to $1 or Decline to $0.80?

ADA is currently trading at $0.98, hovering just above its support level of $0.90. If bearish pressure intensifies, the price may test this support. A failure to hold at $0.90 could see ADA’s decline extend further, potentially dropping to $0.80.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView

Conversely, if buying activity resurges, ADA’s price could stabilize above the $1 mark.

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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