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Altcoins News
TronWeekly
4w
111
Image Credit: TronWeekly
SharpLink Becomes Largest Public Ether Holder With $463 Million ETH Purchase
- SharpLink Gaming, a Minnesota-based firm listed on Nasdaq, purchased 176,271 ETH worth $463 million, making it the largest public ETH holder after the Ethereum Foundation.
- Over 95% of SharpLink's ETH holdings are utilized for staking to earn yield and support the Ethereum network.
- The acquisition was funded through a $425 million private placement and $79 million from equity sales.
- Prominent investors in the private placement included ConsenSys, Galaxy Digital, and Pantera Capital.
- Following a regulatory filing allowing potential share resale, SharpLink's stock dropped by 66%, despite being up over 500% since the ETH treasury pivot announcement.
- SharpLink's Ethereum-focused treasury strategy resembles MicroStrategy's Bitcoin approach, with ETH acting as the main reserve asset.
- Joseph Lubin, the company chairman and Ethereum co-founder, clarified that the regulatory filing did not signify immediate insider selling but rather permitted future share resales.
- SharpLink's move aligns with the trend of companies incorporating cryptocurrencies into their balance sheets, with the Ethereum Foundation holding the highest amount of ETH among public entities.
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Coindoo
4w
191
Image Credit: Coindoo
Spot Solana ETF Race Heats Up as Fidelity, VanEck, and Others File Updated S-1s
- Several firms including Franklin Templeton, Galaxy Digital, VanEck and Grayscale filed updated S-1s for spot Solana ETF proposals, with Grayscale disclosing a fee structure of 2.5%.
- Fidelity made a significant move by submitting its first S-1 filing for a spot Solana exchange-traded product, showing growing interest in Solana-based funds.
- Analysts suggest the increased activity hints at growing confidence in the SEC potentially approving altcoin-based ETFs beyond Bitcoin and Ethereum.
- The SEC has not yet approved any spot ETF linked to an altcoin, but the recent surge suggests rising institutional interest in crypto investment products.
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Coindoo
4w
303
Image Credit: Coindoo
Hoskinson Proposes $100M ADA Conversion to Boost Cardano DeFi and Stablecoin Ecosystem
- Charles Hoskinson proposes converting $100 million worth of ADA into stablecoins like USDM and USDA, as well as Bitcoin, to boost Cardano's DeFi and stablecoin ecosystem.
- Hoskinson aims to increase Cardano's stablecoin-to-TVL ratio from 10% to between 30% and 40% to stimulate growth, criticizing the current ratio for hindering development.
- Cardano's total value locked (TVL) is $356 million, with only $31 million in minted stablecoins, showing underperformance compared to competitors like Solana with $9.8 billion TVL and $11 billion in minted stablecoins.
- Critics express concerns that selling $100 million ADA could affect the token's price, but Hoskinson assures responsible management to prevent market disruptions and dismisses skeptics' criticisms as unfounded.
- If approved, the conversion plan could signify a strategic shift for Cardano, enhancing its competitiveness in DeFi and stablecoin sectors.
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TronWeekly
4w
200
Image Credit: TronWeekly
NEAR Protocol Tanks to $2.23—Analysts Predict $8 High by 2026
- NEAR Protocol (NEAR) is currently trading at $2.23, reflecting a 10.69% drop in 24 hours, despite robust wallet activity.
- Analysts predict a wide price range for NEAR, forecasting values between $1.80 and $8.00 by June.
- Critical support for NEAR is identified at $2.4398, emphasizing the importance of user growth amidst price stagnation.
- Trading volume for NEAR has surged by 61.53% to $255.36 million, with the token showing a weekly loss of 3.90%.
- An analyst suggests that NEAR may be oversold at its current level, highlighting $2.4398 as a crucial support level for potential trend shifts.
- Price projections vary, ranging from bearish estimates of $2.50 to bullish expectations targeting $8.00.
- Despite price declines, the number of active wallets on the NEAR network continues to increase steadily.
- The growth in active wallets signifies strong real-world usage, particularly with the rise of AI-based decentralized applications.
- Estimates from DigitalCoinPrice hint at potential growth for NEAR, reaching $4.91 by late 2025, while Changelly provides a more conservative estimate of $2.67-$2.69.
- Sustained adoption within the NEAR ecosystem could play a pivotal role in price recovery, especially amidst market slowdowns.
- Price predictions depend greatly on NEAR's ability to surpass its late 2021 price range of $2.50 to $5.00.
- Market sentiment towards NEAR might improve with increased network expansion and ecosystem development.
- The divergence between NEAR's price decline and rising active wallets suggests positive prospects for long-term growth.
- NEAR's recent price history includes a spike to nearly $20 in January 2022, followed by a corrective phase stabilizing around $2.45 by mid-2025.
- The current price positioning below a key support level implies the potential for further short-term selling before any substantial recovery.
- Overall, NEAR's outlook remains uncertain, with the token facing both bearish and bullish price forecasts.
- The growth of active wallets demonstrates resilience and potential amidst market fluctuations, highlighting ongoing adoption within the NEAR ecosystem.
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Bitcoinsensus
4w
399
Image Credit: Bitcoinsensus
PEPE Price Bounces Off Lows — This Setup Could Trigger 25% Upside
- PEPE price initially dropped due to geopolitical news but managed to bounce back, currently trading at $0.00001119.
- The $0.00001060 level has served as significant support for PEPE multiple times, showing its importance in price action.
- Indicators like RSI, MACD, and Accumulation/Distribution suggest hidden buying strength for PEPE despite recent price declines.
- There is a potential for PEPE to test resistance levels in the short term, with $0.00001140 as a key zone to watch for bullish momentum.
- Breaking above $0.00001140 could pave the way for further gains towards $0.00001180, $0.00001278, and potentially $0.0001323.
- Traders are advised to monitor A/D trends, RSI momentum, and volume to confirm sustained buying pressure for PEPE.
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Coindoo
4w
49
Image Credit: Coindoo
VanEck Joins Solana ETF Rush as Seventh Issuer Files With SEC
- VanEck has joined the rush to launch a Solana ETF, becoming the seventh issuer to file with the SEC.
- The SEC requested issuers to revise their Solana ETF applications to include staking, leading to six issuers updating their filings before VanEck's submission on June 13.
- The seven issuers targeting Solana ETFs are Fidelity, 21Shares, Franklin Templeton, Grayscale, Bitwise, Canary, and VanEck.
- Most filings include provisions for staking, potentially paving the way for yield-generating ETF structures in the crypto markets.
- The SEC's new crypto-friendly stance under recent leadership has spurred the rush for Solana ETF filings, hinting at a shift in regulatory climate.
- While Bitcoin and Ethereum ETFs have been approved, Solana-based ETFs are still pending approval, although recent filings point towards anticipation of a green light.
- The integration of staking in filings reflects a growing acceptance of DeFi-native yield mechanisms in traditional financial instruments, indicating potential changes for altcoin-based ETFs.
- The surge in Solana ETF filings, especially from major players like Fidelity, Grayscale, and VanEck, signifies a notable moment for Solana's Wall Street adoption.
- With increased issuer participation and a more favorable regulatory environment, the launch of the first spot Solana ETF could be on the horizon.
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TronWeekly
4w
357
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Coinbase ($COIN) Faces $200 Correction If $240 Support Level Breaks
- Coinbase faces a crucial support level at $240 that must be maintained to prevent a significant downward correction towards $200.
- Falling below $240 could trigger a technical correction and further decline in stock price.
- Bearish candlestick patterns suggest increased downward pressure and a potential shift in trend in the near future.
- Traders are cautious as technical indicators signal weakening momentum and the possibility of continued downside movement.
- The stock is at a critical juncture with emphasis on the $240 support level, signaling vulnerability due to recent trend shifts.
- The appearance of bearish candlestick patterns in early June indicates growing selling pressure and a potential trend reversal.
- Failure to hold the $240 support level may lead to a further decline towards $200.
- Investor sentiment hinges on how Coinbase reacts around the $240 level, with a breakout above calming the stock while a fall below could trigger a correction.
- Current market patterns resemble past selloffs, increasing the risk of extended downtrend if key support levels are breached.
- The lack of clear reversal signals raises the likelihood of continued downward movement, especially with prevailing bearish candlestick patterns.
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TronWeekly
4w
241
Image Credit: TronWeekly
Solana (SOL) Price Prediction: Bulls-Eye Breakout Towards $179
- Solana (SOL) is trading near the $145 demand zone, signaling a potential bullish reversal.
- RSI approaching 20 suggests deeply oversold conditions and a probable short-term bounce.
- MACD remains bearish, but holding above $140 support could initiate a trend reversal.
- Trade setup involves a stop-loss at $139.21 with profit targets at $160.65, $168.22, and $179.32.
- SOL is gaining attention in the crypto space and showing price surge potential with the market turning bullish.
- Analysts anticipate a breakout as RSI shows oversold territory, attracting traders and investors.
- SOL is trading at $145.05 with significant trading volume and market cap, impacted by market volatility.
- SOL's recent retracement to $144-$145 zone is seen as a pivotal level for potential bullish momentum.
- Technical setup favors a reversal higher, with traders monitoring signs of accumulation above $145.06.
- Stop-loss at $139.21 in the trade setup offers an attractive risk-reward profile but breakdown risk exists.
- Another analyst notes SOL being deeply oversold with RSI near 20, indicating potential for a bounce.
- The $140 support level is critical for SOL, with MACD still showing bearish momentum.
- Bearish signals persist, but traders watch for signs of bullish shift, aiming to surpass $160 resistance.
- High volatility in the crypto market underscores the importance of risk management.
- SOL's technical outlook suggests a bullish reversal, with $160 resistance level crucial for further upside.
- Traders remain cautious amid bearish momentum and closely monitor support levels.
- Analysts emphasize the need to watch for potential signals of a near-term trend reversal.
- Risk management is essential given the high volatility in crypto markets.
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Coindoo
4w
63
Image Credit: Coindoo
Oil Prices Surge Amid Middle East Tensions, Testing Key Resistance
- WTI crude oil prices surged to the $72–$74 range, approaching a significant descending trendline from the past two years.
- Traders are advised by Daan to closely monitor this setup due to the absence of a breakout so far.
- Economic concerns related to inflation and tariffs are raised, with increasing oil prices posing a risk to global inflation.
- Combining tariff-related pressures with rising oil prices could lead to challenging economic conditions according to Daan.
- No technical breakout has occurred yet, emphasizing the critical importance of upcoming days for overall macroeconomic trends.
- Breaking the resistance level could elevate pressure on inflation forecasts and monetary policy outlooks.
- The article discusses the potential implications of oil price increase amidst Middle East tensions and resistance testing.
- Bitcoin aiming for $120,000 and other altcoins signaling historic breakout potential are also briefly mentioned.
- The analysis focuses on the importance of oil price movements for market sentiment and broader economic trends.
- The content reflects on the current economic landscape shaped by inflation concerns and tariff-related challenges.
- The surge in oil prices underlines the significance of monitoring resistance levels from both technical and macroeconomic perspectives.
- The article emphasizes the need for vigilance in assessing how oil price developments could impact global inflation rates.
- Rising oil prices, if combined with tariff effects, may create adverse economic conditions, warns Daan.
- The proximity to the resistance level implies crucial implications for inflation forecasts and monetary policy decisions.
- The evolving situation amidst Middle East tensions and economic data necessitates continuous monitoring by investors and traders.
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TronWeekly
4w
263
Image Credit: TronWeekly
New Solana ETF Filing Could Change Everything: Here’s What We Know
- Invesco files for the registration of the Invesco Galaxy Solana ETF in Delaware, aiming to expand digital asset offerings beyond Bitcoin and Ethereum.
- The Solana ETF filing represents a strategic move towards diversification in the market of exchange-traded products focused on crypto assets.
- Delaware was chosen for its business-friendly regulations and established legal structure regarding fund registration, attracting asset managers like Invesco.
- The registration reflects increasing interest in gaining exposure to alternative blockchain ecosystems beyond Bitcoin and Ethereum.
- Solana's appeal grows in decentralized finance and smart contracts due to its speed, scalability, and developer ecosystem.
- The Solana ETF would provide regulated access to Solana's potential for investors looking to engage with the blockchain network in conventional finance systems.
- The filing for the Solana ETF aligns with a trend of firms seeking to tap into blockchain infrastructure, enhancing interest in Solana as an investment opportunity.
- However, regulatory approval for altcoin-based ETFs like Solana remains uncertain, with debates ongoing on the classification of digital assets by the U.S. Securities and Exchange Commission.
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TronWeekly
4w
392
Image Credit: TronWeekly
XLM Struggles Below Resistance, Eyes $0.24 on Weak Momentum
- XLM is trading at $0.2597, reflecting a slight decline of 0.14% in the last 4-hour session.
- XLM shows bearish pressure near key support levels and struggles below resistance, indicating growing indecision among traders.
- Repeated rejections from the $0.2848–$0.2895 zone suggest fading bullish strength in XLM's price movement.
- On the 4-hour chart, XLM is near the 9-period DEMA at $0.2595, showing a neutral stance with downside risk.
- The Bollinger Bands indicate weakening bullish momentum as XLM trades below the midline at $0.2734.
- XLM faces potential oversold conditions as it nears the lower Bollinger Band at $0.2573, raising the risk of a sharp drop if support fails.
- The resistance zone between $0.2848 and $0.2895 remains a barrier for XLM, highlighting a bearish outlook.
- The immediate support region for XLM is between $0.2534 and $0.2525, with a break below potentially targeting the $0.24 range.
- A sustained move above $0.2734 could shift short-term sentiment in favor of bulls, aiming for a retest of the $0.2848 resistance area.
- XLM is at a crucial technical juncture with the next price action determining the direction of the upcoming move.
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Coindoo
4w
111
Image Credit: Coindoo
Fidelity Files for Solana Spot ETF
- Fidelity filed for a Solana spot ETF, aligning Solana with Bitcoin and Ethereum for institutional-grade investment vehicles.
- Bitwise and Canary also recently updated their S-1 filings for Solana spot ETFs to include staking functionality.
- Invesco Galaxy's registration of a Solana Spot ETF in Delaware signals growing institutional interest in Solana.
- This suggests a potential shift in U.S. regulatory policy for altcoins, as previously, only Bitcoin and Ethereum spot ETFs were approved.
- Under new SEC leadership, altcoin ETFs, including those with staking features, may see increased approval chances.
- Fidelity's filing could pave the way for wider institutional exposure to Solana and set a precedent for future altcoin ETFs.
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Bitcoinsensus
4w
223
Image Credit: Bitcoinsensus
Dogecoin Price Prediction: Watch These Key Levels
- DOGE swept both upside and downside liquidity before reacting at a known demand zone.
- The $0.164 area remains a strong magnet if price decides to hunt more liquidity.
- A bullish scenario could play out if DOGE targets stop losses above recent highs.
- Dogecoin demonstrated precise market moves based on liquidity and trader vulnerability.
- Recent price action showed DOGE breaking through supply, then sweeping lows before bouncing from a demand zone.
- Price movement in crypto seeks areas of vulnerability, stops, and emotions, rather than being random.
- Two potential scenarios exist: DOGE dropping to $0.164 or shooting higher above recent highs based on demand and liquidity.
- The unpredictability of crypto price movements is highlighted, despite having an edge with such setups.
- Limited-time promo offered for 10% off the Legends Community plan until Friday the 13th at 23:59 CET.
- First-time users can use the code BTCSPROMO10 for the 3-month plan discount in the Legends Community.
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Bitcoinist
4w
200
Image Credit: Bitcoinist
XRP Bullish Structure Remains Bullish: Analyst Releases 3 New Targets
- Crypto analyst Klejdi asserts that XRP's bullish structure remains despite a recent pullback.
- Klejdi highlights three targets for XRP once it reverses its direction to the upside.
- XRP is noted to have broken out of a larger bullish pattern, hinting at the end of its accumulation phase.
- Short-term uncertainty, including US-China trade deal and Trump-Musk dynamics, may impact XRP's price temporarily.
- Projections suggest XRP could drop to $2.17 amid market uncertainty, but the broader bullish outlook remains strong.
- Potential price targets for XRP include $2.4, $2.6, and $2.8, with a rally to $2.8 possibly opening doors for surpassing the $3 mark.
- Analyst CasiTrades anticipates an XRP breakout by June 16, potentially climbing to $13 if this phase marks the dip.
- Heightened uncertainties following Israel's strike against Iran have added to the market's instability, impacting XRP and the broader crypto market.
- XRP's support levels at $2.01, $1.90, and even $1.55 are still plausible as long as $2.25 acts as resistance.
- Experts suggest that XRP may endure a significant pullback before experiencing substantial gains.
- At present, XRP is trading at approximately $2.09, reflecting a decline of over 6% in the past 24 hours.
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