ShIB and LPT Lead the Surge of Meme Coins as Bitcoin Stagnates at $29,400

In the recent cryptocurrency market trends, ShIB and PEPE have emerged as leaders in the meme coin pump, while Bitcoin has remained stagnant at $29,400 for three consecutive days.

Trading Volume on Binance Futures

On Binance Futures, the trading volumes of LPT (Livepeer) and 1000SHIB have reached $2.25 billion and $975.24 million respectively. These figures have surpassed Ethereum, ranking second and third, falling just behind Bitcoin. Other notable tokens like BLZ, APE, 1000PEPE, SOL, RUNE, and HIGH rank 6th to 10th, followed by DOGE and XRP.

Top Gainers in the Last 24 Hours

BLZ, LPT, and RUNE have been the top 3 gainers, with 36%, 19%, and 16% gains respectively over the last 24 hours. LPT is the native token of Livepeer, a decentralized live video streaming network protocol based on blockchain technology. BLZ represents Bluzelle, a censorship-resistant decentralized storage network, and RUNE is the native token of THORChain, a decentralized cross-chain liquidity protocol based on the Cosmos software development kit.

Open Interest Trends

1000SHIB’s open interest has seen a decrease of -9.16% over the last 24 hours, standing at $100.37 million.

Conversely, LPT’s open interest has surged to $975.24 million, marking a 43.58% increase. Both Top Trader Long/Short Ratio (Accounts) and Long/Short Ratio are on the rise, indicating that the pump has attracted more traders to short positions. The amount of liquidated short is around $300.

Indicators for LPT Price Trend Reversal

Several indicators are crucial for LPT’s price trend reversal, including:

1. Market makers and manipulators taking profits.

2. Short traders stopping loss or being liquidated in large numbers compared to the open interest scale.

3. A plunge in Bitcoin’s price.

As of now, there are no signs of these indicators, leading to the speculation that market makers and manipulators may choose to continue pumping for more profits.

Conclusion

The recent surge in meme coins, led by ShIB and LPT, has caught the attention of traders and market analysts. With Bitcoin’s price remaining static, the focus has shifted to these alternative cryptocurrencies.

Image source: Shutterstock

Source

Tagged : / / / / / / /

5 Crypto Assets Are Set to Surge in First Quarter of 2022, According to Analyst Jason Pizzino

Popular crypto analyst Jason Pizzino is detailing which altcoins he believes are primed to surge over the next few months.

First on Pizzino’s list is Curve Dao Token (CRV), the governance token for Curve Finance, a decentralized exchange for stablecoins. Pizzino tells his 244,000 YouTube subscribers that CRV’s Bitcoin chart looks bullish.

“Will it pump like The Sandbox? Probably not, because I don’t think the vision and the excitement and the hopes and dreams can be put into a DeFi project like they can with an NFT/gaming/metaverse project…

But I think there are some big gains to be had in something that is wound up so tightly on a chart like this.”

CRV is trading at $4.73 at time of writing, down more than 4% in the past 24 hours.

Second on the analyst’s list is MATIC, the native token for the blockchain scaling solution Polygon.

Pizzino says MATIC is just starting to “find its legs” after going sideways against Bitcoin. He notes that if the overall crypto narrative shifts to Ethereum (ETH), then Polygon looks good. MATIC is trading at $2.11 at time of writing, up more than 13% on the day.

His next pick is LUNA, the native token for the smart contract platform Terra. Pizzino, however, notes that he’s more bullish on CRV and MATIC than he is on LUNA.

LUNA is trading at $63.94 at time of writing, up more than 12% in the past 24 hours.

The trader’s fourth pick is STX, the native asset for Stacks, an open-source blockchain network and Bitcoin developer project. Pizzino notes that Stacks is already breaking out and could see short-term gains.

“You want to see it stay in the all-time highs… Are they going to be as big as metaverse? I’ve already said that I don’t think so. But I want to look at something that’s going to move this quarter or next quarter.

Because I’m not sure of those larger-cap metaverse cryptocurrencies, because I think they may have had their move.”

STX is trading at $2.70 at time of writing, down nearly 10% on the day.

Another of Pizzino’s picks is RUNE, the native asset for THORChain, a blockchain platform that aims to facilitate the secure and cheap transfer of assets between different blockchains.

Pizzino notes that RUNE has been making higher lows and higher highs against Bitcoin (BTC). The analyst says the asset also has to outpace Ethereum because it’s “the strongest player at the moment.”

RUNE is trading at $10.68 at time of writing, down more than 7% on the day.

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Relight Motion/Sensvector

Source

Tagged : / / / / / / / / / / / / / / / / /

Here’s What’s Next for Shiba Inu, THORChain and Three Additional Altcoins: Crypto Analyst Michaël van de Poppe

Popular crypto strategist and trader Michaël van de Poppe is mapping out the potential path ahead for Shiba Inu (SHIB), THORChain (RUNE) and three other altcoins.

The crypto analyst tells his 475,800 Twitter followers that he’s looking at two possible trade scenarios for Shiba Inu where the meme coin could bounce.

“This one is in between levels. Shown some beautiful S/R (support and resistance) flips resulting in some big gains if you day trade this one. Right now stuck in between. Correcting to green = potential trade. Flipping red = potential trade. Very easy.”

Image
Source: Van de Poppe/Twitter

According to Van de Poppe’s chart, SHIB could either take out resistance at $0.000062 to regain its bullish momentum or restest support at $0.000043 for a probable bounce.

Next up is decentralized exchange protocol THORChain. According to the crypto strategist, he’s looking at two possible setups for THORChain against Bitcoin (RUNE/BTC).

“The aggressive approach is the upper one, which is currently where we’re going to hit support.”

Image
Source: Van de Poppe/Twitter

Looking at Van de Poppe’s chart, RUNE/BTC could either bounce at 0.0002 BTC ($13.51) or continue falling to 0.00015 BTC ($10.13) to carve a local bottom.

Another coin on the trader’s list is high-throughput blockchain Zilliqa. Van de Poppe says he expects Zilliqa to continue consolidating against Bitcoin (ZIL/BTC) before it could take out its immediate resistance and rally to his target above 0.00000257 BTC ($0.17).

“Still pretty much the same view here, in which we can see the price action currently into resistance. If that breaks and flips, we could be having continuation.”

Image
Source: Van de Poppe/Twitter

The next coin on the analyst’s radar is Reserve Rights Token, a cryptocurrency that facilitates the stability of the asset-backed stablecoin known as the Reserve Token. Van de Poppe says he sees Reserve Rights Token gaining over 72% against Bitcoin (RSR/BTC) toward his target at 0.00000112 BTC ($0.07).

“Looks like we’re going to see continuation.”

Image
Source: Van de Poppe/Twitter

The last coin is mobile data exchange Dent (DENT), which Van de Poppe says is poised to take out a crucial resistance area.

“The chart looks ready for continuation, as multiple retests are done on the resistance zone. If $0.008 breaks, I’m expecting another 40% run to be happening.”

Image
Source: Van de Poppe/Twitter

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Lubos Mak/sdecoret/DM7

Source

Tagged : / / / / / / /

Altcoin Project THORchain Poised for Massive Rally, Predicts Coin Bureau – Here’s the New Price Target

The pseudonymous host of crypto outlet Coin Bureau is sharing his price analysis on the altcoin RUNE, the native token of decentralized exchange protocol THORchain.

In a new video, the analyst known as Guy tells his 1.51 million YouTube subscribers that “the sky’s the limit” for RUNE as the crypto bull run plays out.

ADVERTISEMENT

 

“As time goes on, cryptocurrency is starting to look like just another arm of the existing financial system. Everywhere you go, you need to provide KYC [know-your-customer]. Almost all of the services you use involve an intermediary and everything you do is tracked to a T.

This trend toward surveillance and centralization is concerning, to say the least, but luckily there are some cryptocurrencies which are working to keep this industry free. THORchain is arguably at the top of this list. And now that it’s back online, it’s high time to remind you all just how important this crypto project is.”

Back in June, THORchain was hacked several times for around $13 million. Developers took steps in August and September to “harden” the protocol, according to Guy. Now he sees RUNE’s price action reflecting positive sentiment.

“RUNE is rallying quite nicely and is quickly approaching its previous all-time high. This milestone should be easily reached, and that’s for three reasons.

Firstly, now that THORchain is back online it means more cryptocurrency will be added to THORchain’s various vaults. Because THORchain nodes must stake 1.5 times the value of RUNE for the value of the cryptocurrency in THORchain’s vaults, this creates buying pressure for RUNE as more crypto is deposited into these vaults.

Secondly, THORchain liquidity providers depositing the crypto into THORchain vaults must pool an equivalent of RUNE for those assets too, meaning they will also buy more RUNE.

And thirdly, users of THORchain’s various DEX [decentralized exchange] front ends must pay for all transaction fees in RUNE, which turns them into a third demand vector for RUNE.”

The crypto analyst next gives his price prediction for RUNE.

“In terms of how high we could go, I’ll reiterate that I really think the sky’s the limit for RUNE due to the insane value of what the THORchain protocol provides.

In my books, a realistic estimate for the remainder of this bull run is a 3- to 4x from here.

And the strong demand we’re seeing for truly trustless DeFi [decentralized finance] from Chinese crypto traders could take RUNE much higher.”

RUNE is currently trading at $13.74, according to CoinGecko. That’s close to its 7-day peak, but 34% below its ATH of $20.87 reached back in May.

[embedded content]

I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

ADVERTISEMENT

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/zeber

Source

Tagged : / / / / / /

These Five Altcoins Are Ready for Explosive Moves in November, Says Crypto Trader Aaron Arnold

Crypto trader Aaron Arnold is naming his top altcoin picks for the month of November.

In a new YouTube video, the Altcoin Daily host says he anticipates Polygon (MATIC) to surge as companies like Twitter work on projects that require Ethereum layer-2 scaling solutions.

ADVERTISEMENT

 

“Polygon is breaking out, targeting new record highs. MATIC looks ready to set new all-time highs, and this matches what we see going on on-chain.

Polygon just crossed one billion transactions that have all been processed on the Polygon proof-of-stake chain. An amazing milestone, an amazing achievement.

Ethereum layer-2 scaling solutions could not have come at a better time. There’s demand for this, especially with all the adoption that we see.”

The trader is also optimistic about the smart contract platform Avalanche (AVAX) after one of the original rebasing tokens, Ampleforth (AMPL), launched on the network.

“Avalanche is providing a lot of incentives for different DeFi [decentralized finance] protocols to come on the Avalanche blockchain and it’s working.”

He points to Avalanche’s growing numbers in terms of addresses and transactions, adding that the network’s daily active addresses just hit a new high of nearly 70,000, representing a weekly increase of over 100%.

Arnold says that he is also bullish on the decentralized oracle network Chainlink (LINK) and decentralized peer-to-peer file storage protocol Filecoin (FIL).

“I’m adding them just because they are interoperating with a lot of the leaders in this space. I think the future is multi-chain, the future is interoperable.”

Arnold says that the decentralized cross-chain liquidity protocol THORchain (RUNE), which recently broke volume and liquidity all-time highs, is also on his list.

He says the platform is now being viewed as a favored venue for KYC-less (know your customer) and borderless trading of Bitcoin (BTC) for Ethereum (ETH) and ERC-20 tokens. Arnold cites a forecast that the network will have more real Bitcoin than Wrapped Bitcoin (WBTC) on the Uniswap exchange by the end of next January.

“THORchain is doing some impressive metrics.”

[embedded content]

I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

ADVERTISEMENT

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/klyaksun/Vladimir Sazonov

Source

Tagged : / / / / / / / / / / / / / / /

THORChain Jumps 35% on Ethereum Trading Restart



Share this article



THORChain’s native RUNE token has rallied 35% following the restart of Ethereum trading on the protocol. 

THORChain Rallies on Ethereum Restart

THORChain is back on Ethereum. 

The protocol’s native RUNE token rallied 35% Thursday after trading interoperability with the Ethereum network was re-enabled. While the rally has since cooled off, RUNE is still trading up over 27%. 


USD/RUNE chart. Source: CoinGecko

Users can once again trade native Ethereum and ERC-20 tokens through THORChain. However, those wishing to provide liquidity for Ethereum pairs will need to wait for the treasury to rebalance pools before doing so.

Trading on the THORSwap exchange has more than tripled following the restart, hitting $43 million, the highest daily volume ever recorded. The protocol appears to be running at full steam, with over $22 million in trading volume on the Binance USD pool, despite only containing $15 million of liquidity. 

THORChain is a liquidity protocol that facilitates cross-chain trading between networks. Users can connect to exchanges built on the protocol, such as THORSwap, to directly swap assets like Bitcoin for tokens on other blockchains without going through a centralized exchange. 

SIMETRI Research
Sanctor Turbo Demo Day


THORChain halted trading on the Ethereum network in July after a series of hacks cost users a combined $13 million. The chain’s native RUNE token was hit hard, falling more than 82% from all-time highs. While the RUNE token has since recovered, it has been unable to retest the highs achieved in May. 

Now that trading has been re-enabled with the Ethereum network, THORChain is back at full operational capacity. Users can now trade assets between all five supported blockchains: Bitcoin, Ethereum, Binance Chain, Litecoin, and Bitcoin Cash. 

The THORChain team have also announced plans to integrate more chains in the future, allowing users to exchange assets such as Dogecoin, Monero, and Dash through the protocol.

Disclaimer: At the time of writing this feature, the author owned BTC, ETH, and several other cryptocurrencies. 

Share this article




Source

Tagged : / / / / / / /

DeFi Project Thorchain Back Online, Lifting Token 21%

Thorchain, a cross-chain decentralized exchange (DEX), is back in the game again after the team spent several weeks making the network more secure and resistant to malicious attacks.

Built on the Cosmos SDK, Thorchain is a protocol that aims to offer cross-chain liquidity by enabling the non-custodial trading of cryptocurrencies across different kinds of blockchains.

Thorchain’s cross-chain feature is called “Chaosnet” and was released on mainnet in April. It allows users to swap Bitcoin for Ethereum, two non-compatible blockchains, without a centralized intermediary like Coinbase.

Despite its promise, the hasty launch of Chaosnet led to two multi-million dollar hacking incidents that resulted in RUNE’s price plummeting below $4.

Thorchain has been in a sort of hibernation mode since then, with most of the work happening behind the scenes. Now the network is getting back online, having conducted necessary security audits and releasing new critical features.

“[Thorchain] remains one of the most important projects in crypto/defi,” Erik Vorhees, founder of crypto exchange ShapeShift, wrote in a recent tweet.

Boosted by the news, RUNE is up 18.9% over the last 24 hours. The coin hit a local high of $11.28 earlier on Monday, a level last seen in September, before a correction to $10.53 at press time, per CoinGecko.

Thorchain’s new features

On Wednesday, Thorchain announced the release of two new critical features for the network’s node operators.

The first feature will allow any node operator to pause the network for a period of one hour in the event of an attack. This will halt all incoming and outgoing liquidity into the protocol and “trap attack transactions,” according to Thorchain.

The second feature is called “Make Relay” and will serve as a broadcasting service for validator nodes. The feature will be used to signal support, alert the network of attacks, and explain the reason behind a pause.

Earlier this month, THORSwap, a multichain DEX powered by THORChain, secured $3.75 million in funding. According to THORSwap, the fresh funds will be used to scale the project’s development and to launch new products.

Source

Tagged : / / /

THORSwap relaunches cross-chain trading on four of five networks

Cross-chain decentralized exchange (DEX) THORSwap appears to be on the path to recovery after the THORChain network was taken offline following major exploits just three months after entering its guarded launch.

The Cosmos-powered network aims to support decentralized trades executed across different blockchain networks such as Bitcoin (BTC) and Ethereum (ETH). According to an Oct. 12 progress report, the team behind the project’s decentralized exchange THORSwap has so far restored functionality for four of the five networks it supported prior to going down in July.

The update states that THORSwap has resumed swap functionality across the Bitcoin, Bitcoin Cash (BCH), Litecoin (LTC), and Binance Smart Chain networks, adding that the team is currently in the process of reinstating support for Ethereum.

THORSwap added it is working to integrate support for the Terra stablecoin network and the Cosmos’ decentralized finance hub, Gaia. Further integrations with other crypto assets, including Dogecoin (DOGE), Decred, Haven and Monero (XMR), are also under development.

The team is also working to improve the performance of network nodes.

THORSwap’s highly guarded “chaosnet” was partially launched in April, following the launch of THORChain’s initial systems in July 2020.

Despite apparent early success, the THORChain network would suffer three hacks during June and July, forcing it to take some services offline.

Related: Possible ‘white hat hacker’ exploits THORChain for $8M, proposes 10% bounty

THORChain was initially exploited in June. However, the team downplayed the incident at the time, stating that the first exploit attempt was limited to $140,000, “which is a small amount compared to other exploits.”

The network was exploited again for a much larger $7.6 million in Ethereum on July 16 after a hacker discovered a vulnerability resulting in the suspension of operations. THORChain was attacked for a third time on July 23 when a hacker exploited the network’s Ethereum router to steal $8 million worth of ETH.

“It’s been a tough time for THORChain during the last few months, but fundamentals never changed,” said the THORSwap team.