|
Reading time: 5 minutes |
News | Crypto Converter | Profit Calculator |
ApeCoin price soars 100% as ApeChain launch approaches |
|
Key points: |
ApeCoin's price surged over 100%, reaching a new high as whale activity increased. Anticipation for the ApeChain launch has fueled investors' interest and market momentum.
|
News - ApeCoin (APE) has experienced an impressive price increase, reportedly more than doubling in value in a short span, largely attributed to the upcoming launch of ApeChain. This surge has garnered significant attention, particularly from whales, further bolstering market confidence in the APE token. |
What's driving the momentum? The excitement around ApeChain is tied to its potential to expand ApeCoin's utility, enabling it to function as both a gas token and a governance token within the ecosystem. The introduction of this Layer-3 blockchain is expected to enhance transaction capabilities and support various dApps, making ApeCoin even more appealing to investors. |
The upside - ApeCoin's meteoric rise, alongside whale support, highlights a growing bullish sentiment in the crypto market. If the ApeChain launch meets expectations, it could solidify ApeCoin's position within the NFT and gaming sectors and pave the way for a sustained price appreciation. |
Bitcoin hashrate records new high as publicly listed miners expand their share |
|
Key points: |
Bitcoin's hashrate has surged to an all-time high, indicating increased network security and miner activity. Publicly listed mining companies are significantly increasing their share of the Bitcoin network.
|
News - Bitcoin's hashrate has achieved a new record, recently peaking at approximately 769.8 EH/s on October 21, 2024. This increase highlights a robust rise in mining activity across the network. |
It's attributed to advancements in mining technology and a growing number of publicly listed mining companies now accounting for a substantial portion of Bitcoin's computational power. |
What's driving the momentum? The impressive growth in Bitcoin's hashrate can be linked to increased investment in mining infrastructure and the optimization of operations by publicly listed firms. |
Enhanced efficiency and the ability to scale operations have allowed these companies to capture a larger share of the Bitcoin mining ecosystem, significantly bolstering overall network security. |
The upside - This uptick in hashrate signals a positive outlook for the Bitcoin network, as a higher hashrate generally correlates with increased security and stability. As publicly listed miners expand their influence, it could pave the way for further institutional investment and confidence in Bitcoin as a long-term investment. |
Big crypto donation: Chris Larsen gives $10M XRP to Kamala Harris' Future Forward PAC |
|
Key points: |
|
News - Chris Larsen, the co-founder of Ripple, has contributed $10 million in XRP to the Future Forward PAC, a prominent political action committee backing Vice President Kamala Harris. |
This donation marks Larsen as one of the largest individual donors in the crypto industry supporting her campaign, which seeks to advance technological innovation, including the crypto sector. |
Catalysts for change - Larsen's donation aligns with his belief that Harris can bring a fresh perspective to tech innovation and regulatory clarity in the crypto space. This substantial contribution is part of a broader trend among crypto leaders advocating for policies that favor innovation and responsible regulation. |
A new era of influence - As the political landscape shifts, Larsen's donation underscores the potential for significant financial contributions to shape regulatory frameworks surrounding digital assets. His support could influence the direction of future policies as the crypto industry continues to evolve and engage with lawmakers. |
Solana gains massive traction as VanEck enables ETP staking in Europe |
|
Key points: |
VanEck has announced the launch of Solana staking for its exchange-traded products (ETPs) in Europe. This development reflects a growing institutional interest in Solana and its potential for yield generation.
|
News - In a significant move for the Solana ecosystem, VanEck has made it possible for investors to stake Solana (SOL) through its ETPs in Europe. This initiative marks a pivotal moment for Solana, showcasing its utility beyond trading as investors can now earn rewards through staking. |
Implications for investors - This development is expected to attract more investors to Solana, as staking offers a way to earn passive income on their holdings. |
With VanEck facilitating this process, it could pave the way for greater adoption of Solana's ETPs and increase overall liquidity in the market. |
Looking ahead - As institutional interest in staking grows, Solana stands to benefit significantly. This move by VanEck not only enhances Solana's visibility in Europe but also sets a precedent for other financial institutions considering similar offerings. With a strong community and ongoing developments, Solana is well-positioned to expand its footprint in the rapidly evolving cryptocurrency landscape |
|
More stories from the crypto ecosystem |
|
Interesting facts |
In 2017, the total market capitalization of all cryptocurrencies surged past $800 billion, driven by a massive influx of retail investors and the popularity of Initial Coin Offerings (ICOs). In 2020, decentralized finance (DeFi) emerged as a major trend in the crypto space, with total value locked in DeFi protocols surpassing $15 billion by the end of the year. In 2021, NFTs gained massive popularity, with a digital artwork by Beeple selling for $69 million at a Christie's auction, highlighting the growing intersection of art and technology in the blockchain space.
|
|
Top 3 coins of the day |
Dogecoin (DOGE) |
|
Key points: |
|
What you should know - DOGE recently broke above the 200-day SMA at $0.12874, which can be considered a bullish signal for long-term traders. The 50-day SMA at $0.11156 provided further support below this level. Moreover, the Directional Movement Index (DMI) showed strong buying pressure (+DI at 33.58) and low selling pressure (-DI at 8.03), with the ADX at 30.10 indicating the trend has been gaining strength. Immediate resistance was found at $0.14849, and a break above this could signal further upside. Increasing volume adds confirmation to the bullish move, but traders should watch for a potential pullback toward the 200-day SMA for support. |
Aptos (APT) |
|
Key points: |
|
What you should know - On the daily chart, APT was trading near the upper Bollinger Band, indicating strong bullish momentum. The upper band at $11.22 served as immediate resistance, while support was found around $9.48 (middle band). Moreover, the RSI was at 68.87, just below overbought levels, suggesting that the price may be nearing a point where a pullback or consolidation is possible. The increasing trading volume supported the upward move, highlighting buying interest, but traders should watch for any signs of reversal at these levels. |
Avalanche (AVAX) |
|
Key points: |
|
What you should know - AVAX tested the key Fibonacci 61.8% retracement level at $27.63, suggesting a critical point between support and resistance. A bullish breakout from this level could see AVAX targeting the next resistance at $30.41 (78.6% Fib level), while support could be found at $25.68 (50% Fib level) if the price declines. The Awesome Oscillator showed mild bullish momentum with positive values, while the Chaikin Money Flow (CMF) indicated a slight inflow of buying pressure with a positive reading of 0.03. However, the relatively flat trading volume suggested market indecision, so traders should watch for stronger volume confirmation before a decisive move. |
How was today's newsletter? |
|
No comments:
Post a Comment