Data points to Ethereum price making a short-term rally to the $3.2K level

ETHs onchain and derivatives data are looking stronger even as macroeconomic data remains concerning.

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Bitcoin and Gold Are Breaking Down Near S&P 500 Highs, Analyst Alert

Bitcoin is outperforming the S&P 500 in Mike McGlones view, but it is weakening relative to gold, thus showing deeper market risks.

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Glassnode Introduces Breakdown Metrics to Identify Local Bottoms in Bull Market

Glassnode launches a suite of new metrics to help traders identify local bottoms in a bull market. (Read More)

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HumanCode Collaborates with TON Society to Introduce AI-Powered Biometrics to TON Ecosystem

HumanCode, in partnership with TON Society, has launched an innovative collaboration to bring AI-powered biometrics to the TON Ecosystem. Through a $5 million incentive program, users can now verify their digital identities securely within the TON Ecosystem using palm scanning technology. This initiative aims to provide secure digital identities to millions of Telegram users, ensuring convenience, privacy, and enhanced security. (Read More)

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Polkadot parachain Peaq receives major migrations from decentralized mapping projects

Polkadot-related Peaq, a layer-1 blockchain network tailored for Decentralized Physical Infrastructure (DePIN) and Real-World Assets (RWAs), saw adoption from two major DePIN projects, MapMetrics and Natix Network, last week. MapMetrics migration On April 25, Web3 drive-to-earn platform MapMetrics revealed that it was migrating from the Solana blockchain to Peaq to enjoy the several features accessible […]

The post Polkadot parachain Peaq receives major migrations from decentralized mapping projects appeared first on CryptoSlate.

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3-Week Dips in Chainlink & Quant Signal Potential Rebound Ahead

Santiment says prices are dipping for Chainlink and Quant, and the FUD around both tokens is also rising. But a price rebound is likely.

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Unlocking the Value: Why $80K Bitcoin Price is a Bargain Based on 4 Vital Metrics

Bitcoin has been on a rollercoaster ride in recent weeks, with prices reaching record highs before experiencing a sharp decline. Despite this volatility, four key metrics suggest that the current price of around $80,000 per BTC could be considered a discount for savvy investors. One such metric is the Stock-to-Flow (S2F) model, which takes into [...]

The post Unlocking the Value: Why $80K Bitcoin Price is a Bargain Based on 4 Vital Metrics appeared first on Crypto Breaking News.

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Bitcoin Miners See Stable Income After Halving: Coin Metrics Report

After the highly anticipated Bitcoin halving event, miners have seen their income stabilize, according to data from Coin Metrics. The halving reduced the block reward for miners by half, which caused some concerns about the profitability of mining operations. Despite initial worries, it seems that Bitcoin miners have adjusted to the new reward structure. Coin [...]

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On-Chain Data Signals Key Test For Solana At $135 Level Insights

Solana has been struggling since late January, experiencing a sharp decline alongside the broader crypto market. SOL has lost over 60% of its value, with bulls now fighting to hold onto current price levels. Analysts remain skeptical, calling for a continuation of the downtrend as Solana struggles to reclaim higher levels. Related Reading: Bitcoin Accumulation Resumes After 3 Months Of Distribution Analyst Despite the negative sentiment, some investors remain optimistic about a quick and strong recovery in the coming months. They argue that market conditions could shift rapidly, especially if broader economic factors and liquidity conditions improve. On-chain data from Glassnode reveals that Solana faces a major test, as $135 is the most important resistance level according to the UTXO Realized Price Distribution (URPD) indicator. This metric identifies key price levels where large amounts of SOL have previously changed hands, making $135 a critical level for price action. If SOL can break and hold above $135, it could signal a trend reversal and open the door for a potential recovery. However, failure to reclaim this level could result in further downside, reinforcing the bearish outlook. The coming weeks will be crucial for determining Solanas next major move. Solana Struggles Below Key Resistance as Bears Take Control Solana has been trading under heavy selling pressure, struggling to reclaim key levels after weeks of market uncertainty. Bulls lost control once SOL dropped below the $180 mark, and now speculation about a prolonged bear market is rising. The price remains stuck below key resistance, making a recovery challenging. Top analyst Ali Martinez shared insights on X, revealing that Solana faces a major test at the $135 level, which has been identified as the most important resistance based on the UTXO Realized Price Distribution (URPD) indicator. The URPD indicator is an on-chain metric that tracks the price levels at which coins were last moved. It highlights significant areas of accumulation, showing where investors have previously bought and sold. When many tokens have changed hands at a specific price, that level becomes a critical support or resistance zone. In Solanas case, $135 represents a level where a large amount of SOL was last transacted. This means that if bulls reclaim $135, it could act as strong support and signal a trend reversal. However, if SOL fails to break above it, bears could reinforce selling pressure, leading to further downside. Related Reading: Ethereum Is Retesting A 5-Year Long Trendline Massive Rally Incoming? Solana Faces Key Support Test at $126 Solana (SOL) is trading at $126 after experiencing massive selling pressure in recent weeks. The price has been in a strong downtrend, failing to reclaim key levels as market-wide uncertainty and volatility continue to drive sentiment. Currently, SOL is sitting at a crucial weekly demand level, which bulls must defend if they want to initiate a recovery or at least establish a consolidation phase around current prices. Holding this support could provide the foundation for a relief rally, but the market remains fragile. If SOL loses the $120 level, selling pressure could intensify, potentially sending the price toward the $100 mark or even lower. A break below this demand zone would indicate further weakness and could trigger panic selling, leading to deeper losses across the altcoin market. Related Reading: 130,000 Ethereum Moved Off Exchanges Bullish Signal? For any meaningful recovery, bulls need to push SOL above $135 and reclaim $150 to shift momentum in their favor. Until then, downside risks remain high, and traders will closely watch how Solana reacts at this critical support level in the coming days. Featured image from Dall-E, chart from TradingView

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XRP Bulls Face A Big Test Metrics Show $2.40 As The Most Critical Resistance Level

XRP is trading at a crucial level, setting up for what could be a major breakout. The altcoin has been one of the top performers since November 2024, maintaining strength even as the broader market struggles with uncertainty. With renewed interest in altcoins and speculation of a crypto recovery, analysts believe that XRP could be one of the biggest gainers once bullish momentum returns. Related Reading: Ethereum Is Retesting A 5-Year Long Trendline Massive Rally Incoming? According to on-chain data from Glassnode, the $2.40 level stands as the most critical resistance for XRP. The UTXO Realized Price Distribution (URPD) indicator signals that a large concentration of supply exists around this price, making it a pivotal level for the altcoins next move. A decisive breakout above this resistance could trigger a strong rally, potentially pushing XRP toward new highs. Market sentiment remains mixed as macroeconomic concerns and volatile trading conditions continue to influence price action. However, XRPs ability to hold above key support levels suggests that bulls are preparing for a significant push. If buying pressure intensifies and XRP clears the $2.40 mark, it could signal the start of a strong upward trend, positioning the altcoin as a leader in the next phase of market recovery. XRP Holds Strong But Faces Key Resistance At $2.40 Macroeconomic uncertainty and extreme volatility have shaken both the crypto and equity markets, leading to panic selling and fear-driven trading. While many altcoins, including Solana and Ethereum, have faced steep corrections, XRP has held its ground relatively well. The altcoin remains one of the strongest performers since late 2024, standing at a crucial level that could determine its next major move. To confirm an uptrend, bulls must hold above key demand levels and push XRP beyond resistance zones. However, breaking through supply-heavy areas remains a challenge. Top analyst Ali Martinez shared insights on X, citing Glassnode data highlighting $2.40 as XRPs most crucial resistance level. The UTXO Realized Price Distribution (URPD) indicator suggests that a large volume of XRP was previously transacted at this level, making it a key supply zone. The URPD indicator analyzes where the most coins were last moved on-chain. This helps traders identify price levels with high buying or selling activity. When an asset approaches a URPD resistance level, many holders previously acquired their XRP at this price. If price action struggles at this zone, it indicates a large supply overhang, potentially leading to profit-taking. However, if XRP breaks through, it signals strong demand, clearing the way for higher price targets. Related Reading: Bitcoin Accumulation Resumes After 3 Months Of Distribution Analyst With XRP consolidating below this critical level, traders are watching closely. If bulls successfully push XRP past $2.40, a breakout rally could follow, potentially driving the price toward new highs. On the other hand, failure to break through this resistance may lead to further consolidation or even a short-term pullback. The next few sessions will be crucial in determining XRPs trajectory. Investors Eye A Breakout Above $2.50 XRP is currently trading at $2.31, following a 29% surge from the $1.89 level. Bulls are attempting to hold this price range and push above the $2.50 resistance, a crucial level that could confirm an uptrend. A successful breakout would set the stage for XRP to target range highs and further price expansion. However, resistance remains strong, and bulls need sustained momentum to reclaim key supply levels. If XRP fails to break above $2.50, sellers could step in, leading to a possible retracement. A drop below $2.20 would indicate a loss of short-term strength and could trigger a retest of lower support levels. Related Reading: Solana Holds Bullish Pattern Expert Sets $140 Target Market sentiment and broader crypto trends will play a significant role in XRPs next move. With macroeconomic uncertainty still affecting risk assets, traders are closely watching whether bulls can sustain the rally or if a correction is on the horizon. The next few sessions will be crucial in determining whether XRP can extend its gains or face renewed selling pressure. Featured image from Dall-E, chart from TradingView

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‘Operation Choke Point 2.0’ may have contributed to SVB’s collapse: Mulvaney

While the existence of “Operation Choke Point 2.0” has not been confirmed, Mick Mulvaney spoke of “rumors” of its existence and the potential side effects of such a policy.

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‘Operation Choke Point 2.0’ may have contributed to SVB collapse: Mulvaney

If the United States government really is implementing “Operation Choke Point 2.0” it will hurt financial stability and may have contributed to the collapse of Silicon Valley Bank (SVB) according to Donald Trump’s former Acting White House Chief of Staff, Mick Mulvaney. “I don’t want to think that the government would actually do that,” Mulvaney [...]

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Bitcoin price falls to a multi-month low, but data points to a possible short-term bounce

BTC and altcoin prices succumbed to this week’s negative newsflow, but sentiment analysis and on-chain data point to the possibility of a short-term bounce.

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Silvergate downfall sparks debate over whose fault it actually was

The demise of the crypto-friendly bank has prompted discussion about who tipped the first domino, and where crypto firms can turn for their banking needs.

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Cointelegraph launches major update to its institutional-grade crypto intelligence dashboard

The new and improved crypto intelligence dashboard boasts tools used by over 100 of the world’s leading crypto institutions with expanded functionality.

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Six on-chain metrics suggesting Bitcoin is a 'generational buying opportunity'

Six tried and tested on-chain metrics are repeating patterns last seen at the bottom of the past three bear markets.

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Coin Metrics Analyst: “FTX Might Have Provided Massive Bailout For Alameda In Q2”

Did this Coin Metrics analyst uncover the key to the whole Alameda/ FTX story? Because let’s face it, it doesn’t make sense. Both of Sam Bankman-Fried’s businesses were extremely profitable. FTX was the world’s third-biggest exchange and growing, why would anyone risk killing that golden goose? There must have been an underlying cause. Did this Coin Metrics analyst uncover it in the on-chain data? He might have. Related Reading: Solana Plunges 12% – Is FTX Selling Its SOL To Defend FTT? The Head of R&D at Coin Metrics, Lucas Nuzzi, ends his thread with a warning: “Important to note that this is my own personal highly-speculative take on what happened based on these on-chain artifacts.” The case the Coin Metrics analyst is making rests on solid on-chain data, but the interpretation of what said data means is “highly-speculative.” So, take it with a grain of salt and don’t go around saying this is exactly what happened, because it might not be.  That being said, yikes!  The Coin Metrics Analyst Makes The Case Lucas Nuzzi starts with a statement of fact, “I found evidence that FTX might have provided a massive bailout for Alameda in Q2 which now came back to haunt them.” And then, he poses a mystery. “40 days ago, 173 million FTT tokens worth over 4B USD became active on-chain.” Where did those tokens go? You guessed it, Alameda Research. The day was September 28th. A record-breaking $8.6B in FTT moved that day. 2/ That day, September 28, over 8.6 Billion USD worth of FTT was moved on-chain. That was by far the largest daily move of FTT in the token's existence and one of the largest ERC20 daily moves we ever recorded at Coin Metrics. pic.twitter.com/GnUO1ZcCB7 — Lucas Nuzzi (@LucasNuzzi) November 8, 2022 “That was by far the largest daily move of FTT in the token’s existence and one of the largest ERC20 daily moves we ever recorded at Coin Metrics,” Nuzzi tweeted. What was happening around Alameda and FTX near that time? Nothing special, really. On August 24th, Sam Trabucco stepped down from the Co-CEO position at Alameda Research. “I will stay on as an advisor, but otherwise will not continue to have a strong day-to-day presence at the company,” Trabucco tweeted. On September 27th, Brett Harrison stepped down from the CEO position at FTX. “Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company,” Harrison tweeted. This one is the kicker. On September 28th, Sam Bankman-Fried tweeted, “Heads up: rotating a few FTX wallets today (mostly non-circulating); we do this periodically.  Might be a few more coming, won’t have any effect.” If all of this is true, that last SBF tweet will probably make an appearance in court. FTT price chart for 11/09/2022 on FTX | Source: FTT/USD on TradingView.com So, What Did Alameda Do With The Money? Believe it or not, the FTT tokens came directly from the original ICO smart contract. The Coin Metrics analyst “found a peculiar transaction that interacted with a contract from the FTT ICO. This 2019 contract *automatically* released 173 Million FTT from the token’s ICO.” Strange, but both organizations are joined at the hip. Then, things took a bizarre turn. “Alameda then sent that *entire* balance to the address of the deployer (creator) of the FTT ERC20, which is controlled by someone at FTX.” 4/ The recipient of the $4.19 B USD worth of FTT tokens was no one but Alameda Research! So what? Alameda and FTX were intrinsically connected from day 1 and Alameda obviously participated in the FTX ICO. But what happened next was interesting… — Lucas Nuzzi (@LucasNuzzi) November 8, 2022 WHAT? The Coin Metrics Analyst’s Theory According to Lucas Nuzzi, Alameda Research wasn’t immune to the crypto contagion that plagued the space in Q2. In fact, the company might’ve blown up with 3AC, Voyager, and Celsius. “It ONLY survived because it was able to secure funding from FTX using as “collateral” the 172M FTT that was guaranteed to vest 4 months later.” That’s an extremely risky move. It almost seems like FTX didn’t have a choice. 8/ The Alameda bailout likely put a dent on FTXs balance sheet to the point where it was no longer solvent. This would have been fine if the price of FTT didn't collapse and a bank run ensued This is why Alameda tried their best to protect FTT's price.https://t.co/nX1tphjLNR — Lucas Nuzzi (@LucasNuzzi) November 8, 2022 They didn’t, because “the FTT ICO contract vests automatically. Had FTX let Alameda implode in May, their collapse would have ensured the subsequent liquidation of all FTT tokens vested in September.” If the scenario the Coin Metrics analyst poses is real, SBF and company had to do it. And they paid a heavy price for it. “The Alameda bailout likely put a dent on FTXs balance sheet to the point where it was no longer solvent. This would have been fine if the price of FTT didn’t collapse and a bank run ensued.” Related Reading: The Binance Vs. FTX War: Here Are The Most Recent Stats & On-Chain Data This Is Where CZ And Binance Come In In this scenario, CZ And Binance somehow found out about the deal. And the biggest cryptocurrency exchange by trading volume had a heavy FTT bag. “As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT),” CZ tweeted when he announced they were liquidating. What does this heavy FTT bag mean? The Coin Metrics analyst explains, “As large holders of FTT, they could start deliberately tanking that market to force FTX to face a liquidity crunch.” And they did. And then they offered to buy FTX and relieve them of their problems. Presumably for pennies on the dollar. A master stroke, if true. But remember the Coin Metrics’ analyst warning, “Important to note that this is my own personal highly-speculative take on what happened based on these on-chain artifacts.” Featured Image by Gerd Altmann from Pixabay | Charts by TradingView

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Goldman Sachs to Launch Data Service to Classify Digital Assets

Goldman Sachs has floated a new crypto categorization tool dubbed Datanomy (Read More)

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Yield Monitor integrates DeFiChain for insights into its on-chain metrics

Yield Monitor, a multi-chain portfolio tracker for decentralized finance (DeFi) investors, has announced the integration of the DeFiChain blockchain into its database. This is the Yield Monitor’s second non-EVM mainnet integration.

Being the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, DeFiChain is attracting integrations from different blockchains for on-chain data metrics.

DEFiChain joins several other blockchains that have been integrated into the Yield Monitor database. The currently integrated blockchains include Algorand (ALGO), Avalanche (AVAX), Binance (BNB), Ethereum (ETH), Fantom (FTM), and Polygon (MATIC).

Commenting on the integration, Yield Monitor’s CEO Christophe Dupont said:

“We’re thrilled to be building a relationship with the DeFiChain organization. The community is very dedicated and supportive of the various builders and creators bringing value to the ecosystem. It’s a privilege to be adding DeFiChain to our database and we’re eager to begin building long-term, collaborative relationships with DFI investors and existing teams in the coming months.”

DeFiChain’s integration into Yield Monitor’s database provides an opportunity for investors to gain insight into the on-chain metrics around DefiChain.

Developers and Investors on Yield Monitor will be able to track assets held in wallets on the DeFiChain blockchain and also route cross-chain transactions for optimized price and efficiency.

Commenting about Yield Monito’s progress up to the time of the integration, DeFiChain Ambassador and News Anchor, Mark Pedevilla, said:

“We were excited to see the progress Yield Monitor has made in a short amount of time, especially with a small team. This speaks to the quality of their product and their dedication towards building a powerful database infrastructure foundation. We are excited to see the features they are preparing for DeFi investors and their utility in building a truly accessible, multi-chain DeFi community — one in which DeFiChain will play a large role.”

Yield Monitor will leverage the non-Turing complete nature of DeFiChain that allows DeFi transactions

The post Yield Monitor integrates DeFiChain for insights into its on-chain metrics appeared first on Invezz.

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Metaverse platforms refute 'misinformation' about daily active users

User data from DappRadar consists of metaverse users who have also made an in-game purchase with the project's native token, but the Decentraland and Sandbox projects disagree with that criteria.

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