Bitcoin

As Bitcoin Soars, These Altcoins Do Even Better

Published

9 months ago

3 May, 2024

As Bitcoin Soars, These Altcoins Do Even Better

The global crypto market capitalization is $2.29 trillion, marking a 3.50% increase over the last day. according to for CoinMarketCap. Excluding stablecoins, 96% of the top 100 tokens are recording gains, leaving only LEO, Gnosis, Axelar, and Celestia in bearish territory with less than 1.2% in losses.

This ends the week with at least one up day, as Bitcoin is also on the rise up more than 4% in the last 24 hours and above $61,800 at the time of writing, CoinGecko data shows.

There are also 64 major coins that show better percentage gains than BTC: ORDI, TON, and BONK are among the best performers, each with impressive price movements over the last 24 hours.

ORDI, a cryptocurrency that operates within the Ordinals protocol ecosystem based on blockchain technology, is the best-performing token among the top 100 in terms of price appreciation over the last day. ORDI went from US$35.50 to US$41.60, marking a growth of 17.55% in the last 24 hours. The currency is almost erasing last week’s losses and is now down less than 2.5% in the last seven days.

ORDI is experiencing an interesting pattern even though it is a young coin. The short-term trend is bearish, with the EMA55 above the EMA10. This is considered bearish because traders need to hold the currency longer to be profitable. It also shows a strong ADX of 26 points.

Today’s spike is putting the price above the 55 EMA, however, which could reduce the breach between the two EMAs and signal a possible recovery higher in the coming days.

In a bullish scenario, ORDI could test new resistance near $53 for a further 30% rally. However, if the downtrend continues, it could fall by around 38%, testing support around $25.50.

The second best-performing token in the Top 100 is Toncoin (TON), the native cryptocurrency of The Open Network, a project started by Telegram and then handed over to the open source community after a legal dispute with the SEC. TON rose 9.76% in the last 24 hours, going from $5 to $5.52. TON also erased last week’s losses, recording a weekly gain of 3.2% – 9.2% over the last 30 days.

In terms of fundamentals, there is some excitement surrounding TON following an announcement from Pantera Capital, a crypto VC firm with over $5 billion in assets under management, of an investment on the TON blockchain. Pantera did not reveal the amount of money it invested in developing the TON network, but it did not mince words praising the blockchain and its potential.

“We believe TON has the ability to introduce crypto to the masses because it is widely used on the Telegram network,” Pantera Capital said in its official announcement yesterday.

TON appears slightly stronger than ORDI, pointing to a stable bullish recovery. The price has surpassed the EMA10 resistance, proving that it is bullish, at least in the short term. The RSI at 50 points shows a balance of forces, and the Squeeze Momentum Indicator points to the end of the downtrend and the beginning of bullish momentum. The coin is currently testing weak resistance and the trading margin is low.

A bullish scenario puts TON in a zone close to $6 for a 12% increase, with a bearish scenario sending the coin back to $4.90 for a 10.6% price drop .

Another coin with an interesting performance is BONK, a Solana-based meme coin that gained popularity in the last crypto bull run. The coin rose 9.75% in the last 24 hours, going from $0.00002467 to $0.00002716. Like ORDI and TON, it has erased last week’s losses, rising 3.3% in the last 7 days and 16.9% in the last 30 days.

BONK is currently trading sideways and has remained stable since mid-March. The currency has fluctuated between US$0.00002950 and US$0.00001940, with an atypical drop in mid-April. ADX is weak due to price behavior that is basically trading trendlessly. However, the Squeeze Momentum Indicator points to bullish momentum that could turn into a steady uptrend.

Bullish and bearish scenarios are marked by both support and resistance. A bullish performance would see the coin fall to $0.00002950, up 9%, and a bearish performance would see the coin drop 25% to $0.00001940.

Edited by Ryan Ozawa.

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Bitcoin

‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

'This is huge' — Billionaire Mark Cuban issues 'incredible' Bitcoin and crypto prediction amid price slump

Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.

Subscribe now to Forbes CryptoAsset and Blockchain Consultant and “discover blockchain blockbusters poised to generate 1,000%+ gains” after the bitcoin halving earthquake!

The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.

Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.

Sign up for free CryptoCodex now—A daily five-minute newsletter for traders, investors, and crypto curious people that will keep you up to date and ahead of the bitcoin and crypto bull market

ForbesElon Musk Suddenly Breaks His Silence On Bitcoin After Issuing Shocking Warning Of US Dollar “Doom” That Could Trigger Cryptocurrency Price BoomBy Billy Bambrough

Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.

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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.

“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.

“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”

John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”

Sign up for CryptoCodex now—A free daily newsletter for the crypto-curious

ForbesCryptocurrencies Are Suddenly Bracing For A ‘Very Major’ U-Turn In China After Wild Price Swings For Bitcoin, Ethereum, XRPBy Billy Bambrough

Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.

Forbes Digital Assets

Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.

According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”

The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.

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Bitcoin

MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows

Analysts are starting to pay more attention than usual to Bitcoin-proxy’s underlying enterprise software business MicroStrategy Inc.

How to better invest cash generated from operations is what originally prompted co-founder and CEO Michael Saylor to turn to Bitcoin four years ago. Since then, the Tysons Corner, Va.-based company has adopted a two-pronged strategy of investing in the cryptocurrency instead of traditional assets like short-term Treasuries and ramping up its software operations.

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Bitcoin

Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows

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CoinDesk is a awarded media outlet that covers the cryptocurrency industry. Its journalists follow a strict set of editorial policies. In November 2023, CoinDesk has been acquired by the Bullish group, owner of Optimistica regulated digital asset exchange. The Bullish Group is majority owned by Block.one; both companies have interests CoinDesk has a portfolio of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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Bitcoin

Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech

Bitcoin has retreated from a six-week high as investors shift their focus to speculation the U.S. may sell seized tokens just days after Donald Trump vowed to create a government stockpile of the cryptocurrency if he is elected president again.

The US transferred $2 billion worth of Bitcoin to a new digital wallet address on Monday, blockchain research firm Arkham said in a publish on social media platform X. Market analysis firms have speculated that the tokens are from the Silk Road marketplace, where customers used virtual currencies to buy illegal drugs and hacking tools before it was shut down.

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