Author: Benjamin Lee
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…
The widely followed trader and analyst Michaël van de Poppe is highlighting one crypto project in the Ethereum (ETH) ecosystem whose token he believes could go up by triple-digit percentage points. Van de Poppe tells his 773,600 followers on the social media platform X that blockchain oracle Chainlink (LINK) appears bullish against Bitcoin (BTC) and could double in price. According to the widely followed analyst, the Chainlink/US dollar pair could subsequently appreciate by around 169% from the current level. “LINK forms a higher low, which indicates that we’re likely into a new uptrend. My first target is around 2x in…
Gamestop is exploring whether to add Bitcoin to its balance sheet, according to a new report. The video game retailer, which became a viral sensation among retail traders in 2021, is considering whether to buy BTC and other unnamed altcoins, reports CNBC. Gamestop (GME) shares are up about 5.5% in the last week – rising after the firm’s CEO Ryan Cohen posted a picture of himself alongwide Strategy (MSTR) founder and Bitcoin firebrand Michael Saylor. According to an unnamed source close to the company, Gamestop is in the early stages of exploring crypto asset adoption and could very well reject…
The Trump family-affiliated decentralized finance (DeFi) project World Liberty Financial (WLFI) has unveiled a strategic token reserve designed to bolster top crypto projects like Bitcoin (BTC) and Ethereum (ETH). World Liberty Financial says it plans to form partnerships with traditional financial institutions that will contribute tokenized assets to the reserve, which the DeFi project is calling “Macro Strategy.” “The Macro Strategy will serve as a robust financial backbone for WLFI, enabling us to: Enhance Stability: By diversifying our holdings across a spectrum of tokenized assets, we aim to mitigate market volatility and ensure a resilient financial ecosystem. Foster Growth: The…
Blockchain tracking firm Lookonchain says a crypto whale suddenly withdrew $5 million worth of Solana (SOL) to possibly buy more artificial intelligence (AI) related tokens. According to Lookonchain, an anonymous deep-pocketed investor spent nearly $8 million of Solana to buy AI-focused altcoins AI Rig Complex (ARC) and ai16z (AI16z) and then withdrew more than 25,000 SOL from Coinbase. The whale may now use the SOL to buy even more AI-related tokens, as Lookonchain suggests the AI token trend may be making a “comeback.” “The mysterious whale withdrew another 25,306 SOL ($5 million) from Coinbase [Tuesday], possibly to buy more AI…
The altcoin sector suffered “one of its biggest devaluations on record” amid the recent crypto market downtick, according to the digital asset analytics firm Glassnode. Glassnode notes in a new analysis that altcoins experienced significant sell-side pressure in recent weeks as Bitcoin (BTC) outperformed every altcoin subsector. “We can evaluate the magnitude of the drawdown by assessing the 14-day change in the global altcoin market cap. Over the last fortnight, the altcoin market cap declined by $234B, with a small handful of events days recording a larger absolute drawdown. The severity of this drawdown underscores the scale of the capitulation…
A crypto strategist known for accurately calling the 2021 digital asset cycle top believes that several altcoins are poised for significant rallies. The analyst pseudonymously known as Pentoshi tells his 854,200 followers on the social media platform X that the crypto market is not reacting to bad economic news, signaling that a possible bottom is in. “Now price not reacting to tariffs or negative news anymore while many, not all things, are at high timeframe supports. Not a bad sign for some relief.” He says several alts appear poised to undergo mean reversion moves after the market correction. In trading,…
President Donald Trump’s new decentralized finance (DeFi) project is partnering with real-world asset (RWA) tokenization protocol Ondo Finance (ONDO) to boost RWA adoption. In a new thread on the social media platform X, the development team behind Ondo Finance says it’s collaborating with World Liberty Financial (WLFI) as a means of bringing traditional finance to the world of blockchains. According to Ondo, WLFI is adding Ondo’s tokenized assets – such as the stablecoin Ondo US Dollar Yield (USDY) and the Ondo Short-Term US Treasuries Fund (OUSG) – into its network as treasury reserve assets. Furthermore, WLFI is planning on integrating…
A widely followed analyst believes that one large-cap altcoin now has a compelling narrative that will fuel its surge to a fresh record high. Pseudonymous analyst Kaleo tells his 685,600 followers on the social media platform X that Litecoin (LTC) appears to be mimicking its 2021 bull market pattern when it shattered a diagonal resistance before surging to a cycle high. According to Kaleo, LTC is repeating a similar price action but he thinks Litecoin will ascend to new all-time highs and breach the $1,000 price area, fueled by the LTC exchange-traded fund (ETF) narrative. “LTC/Litecoin I’ve been waiting for…
The opportunities in altcoins are probably bigger and more plentiful than ever before, according to Bitwise chief investment officer Matt Hougan. In a new note to investors, Hougan says that the situation for altcoins “is more complex” than it was in previous bull markets since there isn’t any major new application driving interest like in 2020 or 2017. Hougan says the main narrative in altcoins right now is memecoins, which has turned out to ultimately have been a short-term casino environment that lacks substance for serious investors. However, the investor says long-term, “the setup for altcoins is stronger than at…