Connect with us

Market

PEPE Price Hits 6-Month Low; Recovery Delayed Further

Published

on


PEPE has continued its downward trajectory, hitting a six-month low of $0.00000670. The meme coin’s sustained losses have significantly eroded investor confidence, leading even uncertain holders to pull back. 

The extended drawdown has created a challenging environment, with sentiment remaining overwhelmingly bearish.

PEPE Investors Are Losing Hopes

Short-term holders (STHs) have exited the market over the past month. Their participation has dropped from 11.5% to 7%, a 4.5% decline that reflects the growing reluctance to engage with PEPE at current price levels.

The prolonged downtrend has discouraged traders, as any recent investments have resulted in losses.

Typically, a low STH presence can be seen as a stabilizing factor, reducing volatility. However, this case highlights rising pessimism among PEPE investors.

The absence of new inflows and the reluctance of holders to re-enter suggest that sentiment remains fragile, further delaying any potential recovery.

PEPE STH Holding.
PEPE STH Holding. Source: IntoTheBlock

PEPE’s macro momentum remains weak, with technical indicators signaling persistent bearish conditions. The Relative Strength Index (RSI) has remained stuck in the bearish zone for over a month, indicating continued selling pressure.

The lack of upward momentum suggests that recovery remains unlikely in the near term.

Additionally, worsening broader market conditions have exacerbated PEPE’s decline. Without a shift in macroeconomic or crypto market trends, the meme coin could remain under pressure. Until key resistance levels are breached, bearish dominance is expected to persist.

PEPE RSI.
PEPE RSI. Source: TradingView

The PEPE Downtrend Continues

PEPE’s price has fallen to $0.00000670, holding above the critical support of $0.00000632. Sitting at a six-month low, the meme coin’s four-month-long downtrend shows no signs of reversal. If bearish pressure continues, PEPE could lose its support and sink further.

A breach of $0.00000632 would likely result in PEPE falling below $0.00000600. This could extend losses further, pushing the price toward the next support at $0.00000587. Without a strong reversal, PEPE may continue its downward trajectory, deepening investor losses.

PEPE Price Analysis.
PEPE Price Analysis. Source: TradingView

The only way to invalidate this bearish outlook is if PEPE reclaims the crucial resistance of $0.00000951 as support. A successful breakout above this level would increase the chances of the meme coin returning to $0.00001000.

However, before this can happen, PEPE must first breach $0.00000718 and $0.00000839, both acting as key resistance levels on the way to recovery.

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.



Source link

Market

Michael Saylor Shares $81 Trillion Bitcoin Reserve Plan for Trump

Published

on



Michael Saylor shared an ambitious proposal for the US government to accumulate a vast Bitcoin reserve that he claims could generate up to $81 trillion in wealth by 2045.

The outspoken Bitcoin (BTC) advocate and co-founder of Strategy (formerly MicroStrategy) shared the blueprint during the White House Crypto Summit.

Michael Saylor’s Bitcoin Accumulation Blueprint For Trump’s Government

Syalor’s plan, presented as a blueprint for economic dominance, calls for the nation to acquire between 5% and 25% of the Bitcoin network over the next decade through consistent, programmatic daily purchases.

“I shared this at the White House Digital Assets Summit,” Salor confirmed.

Saylor’s vision rests on the idea that Bitcoin will appreciate significantly over time due to its fixed supply and growing global adoption.

Under his plan, the US government would begin accumulating Bitcoin in 2025 and continue until 2035, by which point 99% of all Bitcoin will have been mined.

“Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” read an excerpt in the blueprint.

Following this strategy, the US could acquire up to a quarter (25%) of the total supply, locking in a dominant position in the global financial system. Saylor argued that such a move would have a transformative economic impact.

Saylor estimates that the Strategic Bitcoin Reserve could generate between $16 trillion and $81 trillion in value for the US Treasury by 2045. Notably, this prediction hinges on the scale of adoption and Bitcoin’s future price appreciation.

The reserve would act as a long-term store of value for the nation, offering an alternative to traditional monetary assets and providing a powerful hedge against inflation.

Also, Saylor said the strategy would secure America’s financial future, strengthen the dollar, reduce national debt, and cement the country’s status as a global economic leader.

Saylor Discourages US Government From Selling Bitcoin Holdings

One of the most striking aspects of Saylor’s proposal is his assertion that the US should never sell its Bitcoin holdings. Instead, he envisions the SBR generating at least $10 trillion annually by 2045 through appreciation and other financial mechanisms.

He claims this would create a self-sustaining economic engine capable of addressing national debt concerns. It would also position the US to fund technological advancements, critical infrastructure, and social programs without increasing taxes or borrowing excessively.

Beyond buying Bitcoin, Saylor’s broader digital asset framework includes sweeping regulatory changes designed to position the US as the epicenter of the digital currency wave.

He advocates for clear, supportive regulations that encourage innovation while ensuring market integrity.

“Hostile and unfair tax policies on crypto miners, holders, and exchanges hinder industry growth and should be eliminated, along with arbitrary, capricious, and discriminatory regulations,” Saylor added.

His plan divides digital assets into four categories—digital tokens, digital securities, digital currencies, and digital commodities. Each of these, he indicated, serves a specific function within the economy.

Notably, if the US government heeds Saylor’s 25% Bitcoin supply purchase, it would hold 5.25 million BTC. This would be more than the 1 million BTC (5% of the supply) Wyoming Senator Cynthia Lummis proposed in the Bitcoin Act introduced in August 2024.

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.



Source link

Continue Reading

Market

Solana Futures Market Turn Bearish as SOL Might Dip Below $130

Published

on


Solana’s price has faced significant volatility over the past week due to recent market troubles. This has led to a sharp decline in its futures market sentiment as leveraged traders appear reluctant to take bullish positions. 

This lack of confidence increases the risk of a further price drop, with SOL eyeing a dip below the $130 level in the near term.

Solana Struggles as Traders Exit

SOL’s negative funding rate is an indicator of the waning bullish bias among its futures traders.

According to Coinglass data, SOL perpetual futures have maintained a negative funding rate for the past three days, indicating that short sellers are paying to hold their positions. At press time, this stands at -0.0060%.

SOL Funding Rate
SOL Funding Rate. Source: Coinglass

The funding rate is a periodic fee exchanged between long and short traders in perpetual futures contracts to keep the contract price aligned with the spot market. 

As with SOL, when this rate is negative, it means that short sellers (those betting on a price decline) are paying fees to long traders, indicating a bearish sentiment in the market.

Therefore, more traders are positioned for a price drop, reinforcing the downward pressure on the coin’s price. 

Moreover, the lack of confidence among SOL futures traders is reflected by its plummeting open interest. At press time, this is at $3.94 billion, falling 19% since the beginning of March. 

SOL Open Interest
SOL Open Interest. Source: Coinglass

An asset’s open interest tracks the total number of active futures contracts that have not been settled.

When this falls, especially during a period of price decline, it suggests that traders are closing positions without opening new ones. This confirms the reduced conviction in a short-term SOL price recovery among its futures traders. 

Solana Bulls Weaken—Can They Prevent a Drop Below $130?

At press time, SOL trades at $137.70, resting just above the support floor of $136.62. As bullish sentiment tapers, this level risks being flipped into a resistance zone.

Should this happen, SOL’s price could slip below $130 to exchange hands at $120.72.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView

On the other hand, if bullish momentum returns to the SOL market, this bearish projection will be invalidated. In that scenario, new demand could drive the coin’s price to $182.31.

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.



Source link

Continue Reading

Market

1inch Hacker Returns $5 Million Stolen Funds After Bug Bounty

Published

on


Decentralized exchange (DEX) aggregator 1inch experienced a critical breach of its smart contracts last week. However, following negotiations with the hacker, the exchange successfully recovered most of the $5 million stolen.

Despite the recovery, the attack highlights the ongoing security challenges within the DeFi ecosystem.

1inch Recovers Most of Its Stolen Funds

1inch experienced this particular breach on March 5. Investigators attributed it to a vulnerability in an outdated version of the platform’s smart contract. After discussions and a generous bug bounty, the attacker returned the funds.

“After negotiations with the hacker, most of the $5 million stolen from 1inch has been returned, with the hacker keeping a portion as a bug bounty,” WuBlockchain reported, citing Decurity’s postmortem report.

1inch explained in the March 7 blog that the breach was caused by a flaw in the Fusion v1 resolver smart contract, an obsolete platform component. The team detected the incident at approximately 6 PM UTC on March 5.

Attackers exploited outdated logic within Fusion v1 to execute unintended transactions.

Notably, no end users were directly affected, as the attack targeted a third-party market maker, TrustedVolumes. Upon discovering the breach, 1inch swiftly redeployed its resolver contracts as a precautionary security measure, preventing further exploits.

According to Decurity’s postmortem report, the hacker initiated an on-chain message following the attack. They requested a bug bounty in exchange for returning the stolen funds.

TrustedVolumes, the affected market maker, entered negotiations with the attacker, leading to a successful resolution.

This resolution marks a rare instance in which a DeFi exploit resulted in the voluntary return of stolen assets. It reflects the growing trend of ethical hacking and white hat negotiations in the DeFi industry.

Security Remains a Major Challenge for 1inch

This incident marks the second time in six months that 1inch has faced a security breach. In October 2024, the platform suffered a front-end compromise due to a supply chain attack.

Also, it highlights the persistent risks DeFi protocols encounter. The latest hack is another reminder of the necessity for continuous monitoring and rapid response mechanisms to safeguard users and assets.

1inch price chart
1inch Daily Price Chart. Source: BeInCrypto

Despite the recovery, the 1INCH price has only gone up by a modest 1.12% since Sunday’s session opened and was trading for $0.23 as of this writing.

This incident highlights the importance of continuous smart contract audits and proactive vulnerability detection. It also indicates the need for stronger validation mechanisms to prevent similar incidents in the 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.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io