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A widely followed analyst and trader is leaning bullish on a decentralized finance (DeFi) project built in the Ethereum (ETH) ecosystem. The analyst, pseudonymously known as Credible Crypto, tells his 467,000 subscribers on the social media platform X that it is “only logical” for the native token of the DeFi altcoin Curve DAO (CRV) to hit a new all-time high against Bitcoin (BTC) before the end of the cycle. According to the pseudonymous analyst and trader, CRV could surge by around 1,840% from the current level to reach a price of 0.00015 BTC. CRV is trading at 0.00000773 BTC ($0.739) at time of writing. Credible Crypto says his bullish thesis for the Ethereum-based DeFi project focused on the trading of stablecoins is primarily informed by the improvement in the fundamentals since CRV last hit an all-time high against Bitcoin in 2021. “Well, aside from the technicals (which look fantastic), since the last all-time high on CRV/BTC: – Yearly inflat...

An Ethereum (ETH)-based altcoin is skyrocketing after gaining support from South Korea’s second-largest crypto exchange. In a new announcement, crypto trading platform Bithumb says that it is now supporting the interoperable cross-chain bridge Across Protocol (ACX), triggering rallies for the digital asset. News of the event caused ACX to surge, as it went from a March 21st low of $0.275 to a peak of $0.462 just a few hours later, a rise of nearly 68%. It has since retraced and is trading for $0.319 at time of writing, a 10% gain during the last 24 hours. In its whitepaper, Across Protocol says it is the only cross-chain platform powered by intents. Explains Across Protocol, “Intents introduce a third party, a relayer (alternatively named filler, or solver), that does the job of delivering assets / executing user transactions quickly. An intent is a type of order where a user specifies an outcome instead of an execution path. In practice, intents ...

Top US-based crypto exchange platform Coinbase is abruptly adding support for one decentralized finance (DeFi) lending protocol built on Ethereum (ETH) and Base. In a new announcement, Coinbase says it’s adding support for borrowing and lending project Morpho (MORPHO), causing the digital asset to rise in price. News of the addition sent MORPHO flying as the crypto asset went from a low of $2.05 on February 27th to a peak of $2.42 just a day later. MORPHO has since stabilized and is trading for $2.21 at time of writing, a 7.9% gain during the last 24 hours. Morpho, which launched in 2022, says it’s using an oracle-agnostic pricing model, meaning that it won’t be tied down to a specific data-feeding source, according to its official whitepaper. “External price feeds, often called oracles, have various designs with different accuracy and security properties. For example, some oracles can provide frequent and accurate price updates, but they...

While Justin Sun’s Tron (TRX) was the talk of the town for several years, the advent of new assets put TRX in the backseat. But the altcoin was seen making a major comeback. Despite its price rut for years, TRX has managed to remain within the top 10. With a market cap of $20.6 billion, the asset stands as the 10th largest cryptocurrency in the market. Amidst this, TRX’s price took a huge dip. The real question is if the altcoin can recover by the end of the month. Also Read: Stock Market Volatility Increases as Fed Holds Ferm on Interest Rates How Is Tron’s TRX Faring At the Moment? Source: Coin Culture TRX was among the assets that encountered a drop in price over the past 24 hours. At the time of writing, the cryptocurrency was trading at $0.2393 after recording a daily dip of 1.65%. The altcoin was trading at a high of $0.2436 just earlier today before dropping to a low of $0.2378. Source: CoinMarketCap Similar to an array of assets, Justin Sun’s TRX pocketed...

The Crypto Fear and Greed Index has plunged to levels last seen in October as Bitcoin and the rest of the crypto market tumble in the last days of 2024. The index, which tracks investor sentiment in the crypto market, has fallen to a “Greed” reading of 65. This is an 8 point drop from yesterday’s reading of 73 and is 5 points lower than the reading a week ago. It’s also the lowest since Oct. 15. Trump Euphoria Had Kept The Crypto Fear And Greed Index Above 70 – Until Now Since Donald Trump’s victory in the US presidential election, investor sentiment in the crypto market turned more positive amid anticipation of more relaxed and favorable crypto regulation. Since Trump emerged victorious, the Crypto Fear and Greed Index has stayed above 70 up until the recent drop. A month ago, the Index reached an “Extreme Greed” reading of 85 after peakingat 94 on Nov. 22 as pro-crypto politicians won seats in the Senate and House of Representativ...

A widely followed crypto analyst is expressing bullish sentiment on a large-cap altcoin while updating his outlook on Bitcoin (BTC) and Ethereum (ETH). In a new thread, pseudonymous crypto trader Credible Crypto tells his 408,700 followers on the social media platform X that XRP, the token used to operate Ripple Labs’ payments platform, is due for a “inevitable mega run” now that its legal troubles are over. According to Credible Crypto, XRP is consequently now set for an explosion now that its legal bout with the U.S. Securities and Exchange Commission (SEC) ended with a $125 million fine. “New all-time highs [for XRP] are a matter of when, not if.” XRP, which is trading at $0.614 at time of writing, would need to go up by around 454% to surpass its all-time high of $3.40 set in January 2018. Over the past 24 hours, XRP is up by 19%. As further stated by the analyst, “XRP remains a top-10 crypto by market capitalization. I...

Order book data shows bids and asks narrowing as stocks inch higher and the U.S. dollar bounces back from a previous slip. Bitcoin (BTC) stayed strictly rangebound on Aug. 24 as buyers and sellers attempted to spark a breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Spot price squeeze on the cards Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $21,500 at the Wall Street open. The pair had seen little action in the 24 hours prior, entering the fifth day of sideways movement within an increasingly tight range. Data from the order book of major exchange Binance uploaded to social media by on-chain monitoring resource Material Indicators hinted that the status quo was frustrating exchange users, including whales. At the time of writing, bids were inching higher towards spot price , while seller interest was building at $21,600. The result could be volatility as liquidity reduces the range in which BTC/USD floats — either to the upsid...

Bitcoin and most major altcoins are witnessing a relief rally but higher levels are likely to attract strong selling by the bears. FTX’s collapse dealt a major blow to the already fragile sentiment among cryptocurrency investors. Although a quick recovery is unlikely, Blockchain analysis firm Chainalysis said that the crypto universe could emerge stronger from this crisis. Chainalysis’ research lead Eric Jardine arrived to the conclusion after comparing FTX’s fall to that of Mt. Gox. Another calming statement came from Bloomberg Intelligence exchange-traded fund (EFT) analyst James Seyffart, who said that there was a “99.9% chance” that the Grayscale Bitcoin Trust (GBTC) held the Bitcoin (BTC) it claimed. He added that GBTC was “unlikely” to be liquidated. Daily cryptocurrency market performance. Source: Coin360 The negative events of the past few days do not seem to have scared away the small investors who remain on an accumulating spree. According to blockchain analytics company Gla...

Bitcoin and select cryptocurrencies are trying to start a rebound following the CPI data release but bulls may find it difficult to continue the recovery at higher levels. The United States consumer price index rose 4.9% annually, which was slightly less than estimates of a 5% increase. The CPI’s monthly rise of 0.4% in April was in line with expectations. Although inflation remains stubbornly higher than the Federal Reserve’s 2% target range, traders will take comfort from the slower pace of increase. That suggests the Fed rate hikes are having their effect and further rate hikes may not be necessary. If the Fed pivots and starts to cut rates as the FedWatch Tool projects, that may be positive for risky assets such as equities and cryptocurrencies. Bitcoin (BTC) has responded positively to the CPI data and has risen above $28,000 on May 10. Daily cryptocurrency market performance. Source: Coin360 While the downside looks limited, the bulls may not have it easy at higher levels becaus...

BTC price targets extend down to $27,000 with Bitcoin in a state of "flux." Bitcoin (BTC) refused to give up $30,000 at the July 17 Wall Street open as observers placed bets on a step lower next. BTC/USD 1-hour chart. Source: TradingView Bitcoin traders line up downside targets Data from Cointelegraph Markets Pro and TradingView followed what one analyst called “boring” BTC price action into the new trading week. After an equally quiet weekend, BTC/USD showed no signs of volatility amid a lack of catalysts for change across risk assets. Twenty-six days within this range for #Bitcoin. Boring. pic.twitter.com/JghJp1dCCQ — Michaël van de Poppe (@CryptoMichNL) July 17, 2023 “The market is in flux, and both camps are fighting for dominance,” on-chain monitoring resource Material Indicators wrote in part of its latest Analysis , referring to a battle between Bitcoin bulls and bears. “Everytime bears start to get some momentum, bulls replenish support at $30k. IMO, still to...

Bitcoin price could be gearing up for a decisive move, which could set the stage for XRP, LTC, RNDR and CFX. Inexperienced traders usually chase prices higher during the end of the bull phase as they fear missing out on the rally. However, institutional investors tend to wait for the froth to settle before entering. Bitcoin’s (BTC) bear market in 2022 ended the hype that was seen in 2021. Fred Pye, CEO of 3iQ, Canada’s first Bitcoin fund issuer, said in an interview with Cointelegraph that as “the FOMO in Bitcoin is gone” institutional investors and portfolio managers have started to take a look at it as “a serious venue.” Crypto market data daily view. Source: Coin360 While analysts are bullish for the long term, the short-term picture looks uncertain as the price is stuck inside a range for the past several days. Analysts expect a trending move to start either next week or the week after. If Bitcoin breaks out to the upside, what are the altcoins that may follow it higher? Let’s a...

Bitcoin hit a year-to-date high at $31,000 and ETH price followed. Which altcoins will be next? Bitcoin (BTC) and Ether (ETH) are trading above the psychologically important levels of $30,000 and $2,000 respectively. This suggests that the crypto winter may be on its last legs.  Some analysts are calling for an altseason to begin but it may be too early for that. When most of the crypto bears turn bullish, Bitcoin is likely to turn down sharply and catch the late entrants off guard. That could hurt sentiment in the short term and cause a sell-off in altcoins. After the weak hands are shaken out, the crypto Markets may stabilize and begin a sustained uptrend. Daily cryptocurrency market performance. Source: Coin360 Data from on-chain intelligence platform Glassnode suggests that there are significant similarities between the current having cycle and the previous ones. However, Ecoinometrics warned that an economic recession could alter things.  Let’s watch the charts of the top-10 cryp...