Author: Benjamin Lee

Top US crypto exchange Coinbase has added support for three additional digital assets, including memecoin Gigachad (GIGA). Solana (SOL)-based GIGA, a crypto asset inspired by the photo shoot of Russian bodybuilder Ernest Khalimov, is up more than 39% from its $0.04911 low on Tuesday, the day it was listed on Coinbase. GIGA is trading for $0.06844 at time of writing. With a market cap of $657.9 million, Gigachad is the 183rd largest crypto project. Coinbase also added support for Magic Eden (ME) on the Solana network, a utility token for the Magic Eden non-fungible token (NFT) marketplace. Users can list…

New data from market intelligence firm Glassnode reveals that decentralized oracle network Chainlink (LINK) is gaining on-chain momentum as its price rises. In a new thread on the social media platform X, Glassnode says that LINK’s fundamentals are improving along with its active address momentum and rising price tag. “While LINK’s price surge was clearly driven by speculative and short-term market activity, its fundamentals are improving too. Active addresses momentum is trending higher, with the short-term SMA (simple moving average) of 6,682 still above the long-term SMA of 5,878. That said, active addresses remain far below their 2021 peak of…

Solana (SOL) was the top ecosystem choice this year for new developers, according to a recent report. Researchers at the venture firm Electric Capital note that 39,148 new developers explored the crypto space in 2024. The firm also says that 2024 was the first year since 2016 that any ecosystem besides Ethereum (ETH) ranked first among the new developer cohort, with 7,625 new devs choosing Solana, compared to 6,456 for Ethereum. Solana also leads in terms of decentralized exchange (DEX) usage, capturing 81% of DEX transactions and ranking the highest in terms of the number of unique trading wallets. Base,…

A closely followed crypto analyst believes that the altcoin market is entering an uptrend after bottoming out. In a new strategy session, crypto trader Michaël van de Poppe tells his 751,700 followers on the social media platform X that the price action of the OTHERS chart may be printing a bullish pattern on the weekly timeframe. The OTHERS chart, which is often used to gauge the altcoin market strength, tracks the market capitalization of all crypto assets excluding the 10 largest coins and stablecoins. “The altcoin market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong…

Crypto giant Grayscale has launched two new trusts that offer investors exposure to liquid staking service Lido DAO (LDO) and scaling solution Optimism (OP). The new trusts add to the crypto firm’s more than 25 existing digital asset products. Rayhaneh Sharif-Askary, Grayscale’s head of product and research, praises the two altcoin projects for the benefits they bring to the Ethereum (ETH) ecosystem. “Lido is helping to democratize staking on Ethereum, and Optimism is critical in allowing Ethereum to scale to compete with newer, faster layer-1 blockchains. Grayscale Lido DAO Trust and Grayscale Optimism Trust provide investors with exposure to protocols…

A widely followed crypto analyst says that Bitcoin’s (BTC) still has upward momentum while updating his outlook on payments network Stellar (XLM). In a new thread on the social media platform X, pseudonymous crypto strategist Rekt Capital tells his 519,600 followers that it appears as if the top crypto asset by market cap’s technical uptrend will remain in place. “Bitcoin continues to hold its four-week technical uptrend line as support Bitcoin would likely need to lose this uptrend line if a deeper correction is to take place from these levels. So far, the technical uptrend remains intact.” Source: Rekt Capital/X…

Ethereum (ETH) rival Avalanche (AVAX) has raised $250,000,000 from a locked token sale led by Galaxy Digital, Dragonfly and ParaFi Capital. According to a new announcement, Avalanche says that more than 40 companies participated in the sale, including SkyBridge, Hivemind and Morgan Creek Digital. A locked token sale means the tokens sold have certain vesting or lock-up periods. The proceeds will go toward supporting the blockchain’s upgrade called Avalanche9000. “The influx of capital follows the launch of the Avalanche9000 testnet, a key milestone that paves the way for the upcoming mainnet network upgrade on Monday, December 16th, which will reduce…

Decentralized finance (DeFi) altcoin Velodrome Finance (VELO) is skyrocketing following a new listing from the world’s largest crypto exchange by trading volume. Earlier today, Binance announced the addition of VELO to the crypto exchange. “Binance is excited to announce that Velodrome Finance (VELODROME) will be added to Binance Simple Earn, ‘Buy Crypto’, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures at the respective dates and timings listed below.” According to the announcement, Binance’s Simple Earn will list VELO Flexible Products for subscription today. Binance users will be able to purchase VELO on Monday, December 16th. VELO has almost doubled…

A widely followed crypto analyst is highlighting whale activity surrounding popular crypto assets such as Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP during this week’s market dip. In a new thread on the social media platform X, crypto strategist Ali Martinez tells his 98,300 followers that deep-pocketed investors have loaded up on smart contract platform Cardano during the last two days. “Cardano whales bought over 80 million ADA in the last 48 hours!” Source: Ali Martinez/X Cardano is trading for $1.14 at time of writing, a 6.22% decrease during the last 24 hours. Moving on to the dog-themed meme…

New data from market analytics firm Glassnode reveals that traders are keeping their Solana (SOL) stacks amid expectations that its price will continue to rise. In a new thread on the social media platform X, Glassnode says that long-term holders now own a significant supply of SOL, believing that Solana’s bullish phase is far from over. “Solana investors are HODL-ing (holding on for dear life) firm, expecting higher prices. Long-term holders’ share of wealth locked in the network is growing. The 6-12 month cohort now holds 27% of the supply, showing conviction from 2024 rally buyers.” Source: Glassnode/X But the…