Author: Benjamin Lee
An on-chain analyst says deep-pocketed investors are loading up massive amounts of Cardano (ADA) and a top memecoin as the market went sideways for the past week. Analyst Ali Martinez tells his 98,800 followers on the social media platform X that crypto whales accumulated $85.6 million worth of ADA in a couple of days. “Cardano whales bought over 80 million ADA in 48 hours!” Source: Ali Martinez/X At time of writing, ADA is trading for $1.07. Martinez also says deep-pocketed investors snapped up $64 million worth of the large-cap memecoin Dogecoin (DOGE). “Whales bought another 160 million Dogecoin DOGE in…
A closely followed crypto trader and Elliott Wave specialist is forecasting rallies for several altcoins amid a correction in the digital asset markets. Pseudonymous trader Bluntz tells his 304,000 followers on the social media platform X that the utility token for decentralized oracle service Pyth Network (PYTH) has broken out of a bull flag pattern. Bluntz’s chart also suggests that PYTH is in the midst of a five-wave impulse to around the $0.50 level. “Solana ecosystem looking good again, nice bull flag PYTH breakout. Looking impulsive.” Source: Bluntz/X Bluntz practices Elliott Wave theory, which states that a bullish asset tends…
The CEO of digital assets-focused investment firm Pantera Capital says his firm owns a handful of other crypto in addition to Bitcoin (BTC). In a new CNBC interview, Dan Morehead says that he thinks Bitcoin and crypto still have more room to the upside this cycle. Morehead notes that his firm has accumulated positions in three altcoins including the layer-1 protocol Solana (SOL). “The fun thing about crypto is we’ve been doing this for 11 years, and Bitcoin has a little bit more than doubled this year… On average, it has done that for 11 years in a row. So…
A decentralized real estate trading platform built on the smart contract platform Solana (SOL) is surging after getting a spot on Coinbase’s listing roadmap. In a new thread on the social media platform X, Coinbase Assets announces the addition of decentralized exchange (DEX) Parcl (PARCL) to its roadmap, triggering a nearly 50% rally in just 24 hours. Coinbase uses the listing roadmap for transparency and to prevent insider trading on coins prior to them being listed. Being placed on the listing roadmap means the firm has determined the asset will likely be available for trading in the future. Parcl is…
The co-founders of the crypto analytics firm Glassnode are outlining two key conditions that could spark altcoin rallies just in time for Christmas. Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,300 followers that altcoins could be on the verge of outperforming Bitcoin (BTC) in the next two weeks. The Glassnode co-founders are looking at the Bitcoin Dominance (BTC.D) chart, which tracks the percentage of the total crypto market cap that belongs to Bitcoin. The duo shares a chart suggesting that BTC.D has flipped bearish, opening the doors for…
Asset management giant VanEck is predicting a large surge in decentralized finance (DeFi) trading volumes next year. In a new report detailing its predictions for 2025, VanEck analysts say decentralized exchange (DEX) volumes will capture a fifth of centralized exchange (CEX) spot trading volumes. “Despite record-high decentralized exchange (DEX) trading volumes, both in absolute terms and relative to centralized exchanges (CEXs), decentralized finance (DeFi) total value locked (TVL) remains 24% below its peak. We anticipate that DEX trading volumes will surpass $4 trillion in 2025, capturing 20% of CEX spot trading volumes, driven by the proliferation of AI (artificial intelligence)-related…
A popular crypto analyst has issued a warning about Aave (AAVE), a top decentralized lending protocol built on Ethereum (ETH). The trader Ali Martinez tells his 98,500 followers on the social media platform X that social volume and positive sentiment around Aave’s native token are skyrocketing. “With the crowd’s growing focus on AAVE, a brief pullback might be on the horizon, as markets often move against popular sentiment.” Source: Ali Martinez/X AAVE, the 34th-ranked crypto asset by market cap, is trading at $384.85 at time of writing. Turning to Litecoin, Martinez says that LTC is “irrelevant, both fundamentally and technically.”…
New data from market intelligence platform Santiment reveals that Chainlink (LINK) is leading the real-world assets (RWA) sector in terms of recent development activity. In a new post on the social media platform X, Santiment says the nascent sector is being led by the decentralized oracle network followed by Ethereum (ETH)-based synthetic asset creator Synthetix (SNX) and privacy-focused tokenization project Dusk Foundation (DUSK). According to the data, Chainlink had nearly 394 notable GitHub events during the past 30 days while Synthetix and Dusk Foundation clocked in with 176.6 and 34.7, respectively. Other notable digital assets on the list include Polymesh…
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…