Analysis Crypto by Thebittimes.Com

The digital asset created and backed by the crypto giant Binance is surging, fueled by memecoin trading and corporate treasuries. BNB just shattered its all-time high, touching $1,316 while up 8.8% in 24 hours, with trading volume surpassing $3 billion. This rally also stems from new institutional bets on the altcoin. CEA Industries says it now has a $611 million BNB treasury holding 480,000 tokens, while Kazakhstan’s Alem Crypto Fund named BNB its first national reserve asset. Says CEA Industries CEO, David Namdar, “BNB’s all-time highs are a clear validation that the global markets are waking up to the inherent value, credibility, scale, and utility of both the asset and underlying ecosystem. We view BNB not just as a token, but as the fulcrum of a massively integrated ecosystem.” In addition, BNB’s Q3 DEX volume has soared 185% to $37.1 billion, driven by the decentralized exchange (DEX) aggregator Aster’s whopping $29 million in dai...

A widely followed crypto analyst says that one non-fungible token (NFT)-related altcoin is set to revisit its previous all-time highs while updating his outlook on Ethereum (ETH) and Solana (SOL). In a new thread, pseudonymous crypto trader Altcoin Sherpa tells his 245,200 followers on X that based on technical indicators, Pudgy Penguins (PENGU) – an altcoin that’s seen 800%+ gains in five months – appears ready to revisit its all-time high after a period of stagnation. “PENGU downtrended for 1.5 months, chopped at the 0.50 [Fibonacci level], and is now moving. I’ve finally got a position when it flipped the .382 [Fibonacci level] and I took a tiny bit of profit. Going to keep maintaining this position though and will look to add on any dips. I think it eventually goes back to the highs again.” Source: Altcoin Sherpa/X PENGU is trading for $0.0358 at time of writing, a 5.9% increase on the day. Five months ago, the altcoin is valued at jus...

Stellar (XLM), a direct competitor to XRP in cross-border payments, may be on the verge of a major breakout after months of sideways movement, with technical signals pointing to a potential parabolic rally. According to TradingShot’s Analysis shared in a TradingView post on August 25, since the July 14 weekly high, Stellar has consolidated while remaining supported by its 50-week moving average. XLM price analysis chart. Source: TradingView This price action fits within a broader multi-year ascending triangle pattern, with the latest consolidation resembling a bull flag. Historically, similar setups have marked the beginning of explosive rallies. Notably, the same structure appeared in late 2017. After holding the MA50 during that period, Stellar staged a parabolic rally, peaking just above the 1.618 Fibonacci extension level. Currently, attention is on whether Stellar can break through the top of its triangle, which is defined by the lower-highs trendline. ...

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The Ethereum (ETH) underwent a lot of bashing due to its stagnant price. The asset was seen moving slowly over the past couple of years. The world’s largest altcoin hit an all-time high of $4,891.70 about four years ago. The asset has failed to reclaim this peak ever since. Despite a growth rate of 90313.41% since its launch in 2015, ETH has failed to make big noise. But investors could be in for a treat as the network was recording increased bullish activities. Also Read: PLTR: Palantir Falls 3% on $178M Army AI Deal, BofA Eyes $150 Is Ethereum Kickstarting Its Bullish Phase? Source: Watcher Guru Ethereum emerged as a top performer throughout the past month. The asset surged by a notable 55% during the last 30 days. At the time of writing, ETH was trading at $2,560.16. This comes after a 1.17% rise during the last 24 hours. Source: CoinMarketCap May has been quite eventful for the second-largest cryptocurrency. The Ethereum network witnessed a massive shift in trend. A thread on ...

Digital asset management giant Grayscale says one layer-one blockchain is the best-positioned out of any to potentially steal market share away from Ethereum (ETH), the biggest smart contract platform by market cap. In a new report from Grayscale Research, the firm says Sui (SUI) provides “one of the highest throughput and lowest transaction costs of any single-layer network” without relying on additional scaling layers, as Ethereum does. Grayscale notes that Sui represents only 0.3% of its Smart Contract Platforms Crypto Sector by market capitalization. According to the firm, its Smart Contract Platforms Crypto Sector index includes crypto assets that serve as the baseline platforms upon which self-executing contracts are developed and deployed. “Although competition within the Smart Contract Platforms Crypto Sector is likely to remain intense, Grayscale Research believes that Sui is currently the best-positioned third-generation blockchain to c...

Analyst and trader Michaël van de Poppe says one Solana (SOL)-based altcoin may be gearing up for a breakout. Van de Poppe tells his 774,000 followers on the social media platform X that the cross-chain messaging protocol Wormhole (W) is showing bullish divergence on the weekly chart. A bullish divergence, which suggests price will start to increase, occurs when the price of assets records lower lows while indicators, such as the Relative Strength Index (RSI), a momentum oscillator indicator, are witnessing higher lows. “The altcoins, nothing has changed. On W, there’s still a possibility of a potential bullish divergence and falling wedge breakout in the upcoming weeks. Good things are ahead of us, it might not feel like it, but it will.” Source: Michaël van de Poppe/X W is trading for $0.1798 at time of writing, up 1.1% in the last 24 hours. Next up, the trader says Bitcoin (BTC) may be poised for an explosive move. “PPI (Producer Pri...

The cryptocurrency market was painted red. A number of assets were seen bleeding making it an uneventful start to the week. SUI was also part of this and witnessed a much bigger downfall. Despite this, the community is sure that the asset will record a new all-time high sooner than later. This is mostly because of SUI’s rise earlier this month, where it hit a new peak. The real question is if the cryptocurrency will end the first month of the year on a good note. Also Read: XRP on Edge: SEC Appeal Looms as Ripple Countdown Hits Critical Stage SUI Slips By Over 7% Source: Asia Crypto Today Over the past 24 hours, the altcoin recorded a 7.36% drop. At the time of writing, SUI was trading at $4.49. The asset’s weekly loss stands at 13%. Amidst this, the cryptocurrency’s trading volume was on the rise. Throughout the past day, the asset’s volume surged by 51%, bringing the final value to $1.33 billion. Source: CoinMarketCap It is worth noting that SUI hit an all-time...

Ripple’s native token XRP breached the $1.6 mark during the weekend and is currently trading at $1.51. It is up nearly 4.2% in the day’s trade and attracts heavy bullish sentiments in the charts. Another leg-up from here could take its price above the $1.70 mark, leading to a new yearly high. The altcoin took over three years to reach $1 after slipping in the indices in November 2021. Also Read: Can XRP Hit $2 Before Thanksgiving 2024? Source: Coingecko Now that XRP is attracting bullish sentiments, can it breach its all-time high of $3.40 during the ongoing rally? The leading altcoin hit its ATH of $3.40 in January 2018, and it has been nearly seven years of struggle to reclaim its lost glory. In this article, we will highlight a tentative timeline for when XRP can breach its all-time high of $3.40. Also Read: Should You Buy MSNBC Stock Before Elon Musk Acquires the News Channel? When Will XRP Breach Its All-Time High of $3.40? Source: Twitter Leading on-chain metrics and p...

The post-election surge in bitcoin and altcoin prices has revived the non-fungible token (NFT) market. Weekly NFT sales have reached $180 million, a 94% increase, signaling renewed optimism . This resurgence is likely tied to the anticipation of Donald Trump’s second presidency, as his NFT trading card collections generated $7 million in profits, reigniting interest in the sector. Despite the recent upsurge in NFT sales, the market’s inherent volatility and speculative nature mean that short-term fluctuations do not indicate a lasting trend. Analysts have issued cautionary warnings to investors, as last year’s report highlighted that 95% of NFT collections were valued at zero ether, underscoring the market’s risks and potential for losses. New Cryptocurrency Releases, Listings, & Presales The Society Library provides revolutionary AI-powered research tools for navigating complex information landscapes. Urolithin A democratizes research by allowing develope...

Leading altcoin VeChain (VET) is trading around the $0.022 mark on Tuesday, up close to 4% in the day’s trade. It snapped its eight-day losing streak today and entered the greener spectrum in the charts. The latest price prediction for VET remains bullish, indicating that a double-digit spike could be on the way. VeChain’s spike in price comes after Bitcoin hit the $70,000 mark in the indices. The overall cryptocurrency market remains green due to BTC’s bullish momentum. Bitcoin is up 5.1% today and is gearing up to breach its all-time high of $73,737. Also Read: Dogecoin (DOGE) To Peak And Target $0.175, Expert Shares If BTC breaches the mark, leading altcoins could also hit new monthly highs in the indices. Therefore, taking an entry position in VET could be beneficial as indicators remain bullish. VeChain Price Prediction: VET Forecasted to Surge Double Digits in November Source: Unsplash Leading on-chain metrics and price prediction firm Changelly has painted a ros...