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JupiterExchange recently announced a major decision to burn 30% of its $JUP team tokens, following a successful proposal that saw 95% of votes in favor and a record high turnout of 274 million $JUP staked. BREAKING: @JupiterExchange's proposal to burn 30% of the $JUP team tokens has passed with 95% […]
The total value locked on Solana surged but is this enough to send SOL price to a new all-time high?
Leading Solana-based decentralized exchange aggregator Jupiter exposes malicious Chrome extension targeting Solana users. Dubbed Bull Checker, the malicious Chrome extension…
The post Top DEX Exposes Malicious Chrome Extension Targeting Solana Users first appeared on The Crypto Basic.
Following a short break in buying, JUP took a little downturn this week and resumed positive actions after finding support nearby. It appeared bullish and ready to tap more highs but faced rejection at a key level. Last week appeared more volatile across the crypto space following a two-week recovery […]
JUPs price jumped by another 10% today in continuation of the latest recovery, although is yet to break out of its bearish structure on the daily chart. It appeared bullish but is now facing a psychological level. A few days ago, JUP traded as low as $0.64 after losing more […]
Prominent crypto expert and YouTuber Lark Davis highlights the top five altcoins that can make investors actualize their Lambo dream. …
The post Here Are Top 5 Altcoins to Make Your Lambo Dream Come True first appeared on The Crypto Basic.
The Indian instant payment system is gradually making its way around the world.
SOL derivatives and the Solana network have remained stable, indicating that traders and users are not ready to give up.
JUP is up 4% today amid the overall market deduction. However, it appeared to be facing a key resistance as it stages a new swing high. Failure to push through could invalidate the current bullish signal. Jupiters native token JUP has been gaining traction for a straight week as […]
Jupiter (JUP) has had a remarkable month, with its price skyrocketing over 150% in the last 30 days. Amid the crypto market slowdown and some controversies, JUPs performance has maintained momentum. Related Reading: Solana Tokens Among Top Gainers: JUP and WEN Soar Over 12%, WIF Hits New ATH Crypto Analyst Sees “Decent” Entry Spot For JUP Jupiters JUP started the month trading around $0.63 and has seen the price jump 106% in 25 days. The tokens performance this month showed sideways price action before climbing to a new support level twice, which could suggest that another price surge is possible despite the turbulent week. In an X post, renowned crypto analyst Altcoin Sherpa commented on JUPs most recent performance as he wondered about the possibility of a leg up. $JUP: Wondering if next leg is coming for JUPITER…consolidation and looks ok + btc looks somewhat stable (for now). Might be a decent spot entry here. pic.twitter.com/uE8IHblbFY — Altcoin Sherpa (@AltcoinSherpa) March 25, 2024 The analyst shared JUPs price chart, which displayed the tokens sideways movement inside the $1.12-$1.47 price range for the past few days. The chart shows that the consolidation phase started after the tokens price jumped and unsuccessfully tested the $1.50 resistance level on March 16. After a pullback to the $1.20 mark, JUP retested the resistance zone again on March 18, briefly reaching $1.60, but ultimately failed to maintain it. Following the unsuccessful attempts to climb, the price dipped even lower to the $1.10 support zone in the following days. Since then, JUP has bounced back, hovering between the $1.15-$1.25 zone. The recent price consolidation looks ok, according to the analyst. He further highlights Bitcoins current stability, seemingly suggesting to Sherpa that JUP could repeat its March trajectory. As a result, the analyst deems this moment as a decent entry spot for Jupiters token. Additionally, he has shown a positive sentiment towards JUP before, calling the token a winner thats gonna keep on winning. winners gonna keep on winning. $PYTH and $JUP are some of the great ones. pic.twitter.com/nL4BmzxFJo — Altcoin Sherpa (@AltcoinSherpa) March 16, 2024 JUPs Price Action Recently, JUPs Community showed some concerns after its co-founder Meow announced a controversial decision. Meow revealed on X that Jupiter would donate the SLERF limit order and DCA fees to the tokens presale participants. This decision was taken without consulting the community, a crucial part of the project. After the criticism, Meow explained that “no JUP tokens were involved in the donation and, despite the turbulence in the community, JUPs price didnt seem to be affected.” Its worth noting that Bitcoins price showed stabilization signs over the weekend, as highlighted by Sherpa. This matters as JUP followed BTCs trajectory closely over the last week. As the chart below shows, the Solana-based token mimicked the moves of the flagship cryptocurrency. JUP and BTC's price performance over the last 7 days. Source: CoinGecko In the last 24 hours, Jupiters trading volume has surged 64.1%, with $214.7 million being traded. According to CoinMarketCap data, JUPs market capitalization increased 8.5% in the past day, placing the token as the 65th largest cryptocurrency by this metric, with $1.77 billion. Despite the negative 3.5% performance in the past week, the token exhibits a significant 71.8% price jump in the biweekly timeframe. At the time of writing, JUP is trading at $1.33, a 13.2% surge in the last day. Related Reading: Social Media Storm Gives Dogecoin 14% Price Boost Details Jupiter's performance in the 3-day chart. Source: JUPUSDT on Trading.view.com Featured Image from Unsplash.com, Chart from TradingView.com
Jupiter (JUP) has recently registered some minor gains rising by 3.50% in the last day. However, earlier market losses mean the altcoin experienced a 1.38% decline in the past seven days. Amid this volatile price action, renowned market expert Ali Martinez postulates the altcoin is in imminent danger of a major price fall. Related Reading: Ethereum Whales Pounce On The Dip, Snag $236 Million In ETH Bearish Flag Forms On JUP Chart: Key Support To Watch In an X post on Saturday, Martinez reports the formation of a potential bearish flag on the JUP 4-hour chart. The bearish flag is a continuation pattern that hints at a sustained downtrend. It follows a prolonged price fall i.e. the flagpole which was seen in early March when prices of Jupiter fell from $0.83 to $0.48 in seven days. The bearish flag is a brief period of consolidation in an upward or sideways direction that comes after this price decline and is usually followed by a downward trend continuation. In the case of Jupiter, the flag is represented by prices moving between $0.56 (resistance) and $0.50 (support). Therefore, a decisive price fall below the $0.50 region would validate the bearish flag resulting in a substantial price decline. Based on the length of the initial flagpole, Martinez predicts JUP prices could slide as low as $0.41, suggesting a potential 21.15% decline from current market prices. On the other hand, a strong price breakout above the resistance at $0.56 could invalidate the bearish flag suggesting a a potential reversal. In this case, Jupiter could rise to around $0.83 at which lies the next significant price resistance. Related Reading: Global M2 Vs. Bitcoin Shows Bullishness As Analyst Sets Blast Off Date, Heres When JUP Price Outlook Amid a general crypto market correction, JUP has suffered a substantial price loss over the last month losing 30.15% of its value. This development has occurred despite efforts by the Jupiter exchange to manage the tokens supply by using 50% of protocol fees to implement a massive buy-back strategy. However, the Relative Strength Index (RSI) on the tokens daily chart shows a recent rebound from the oversold region indicating price reversal could be on the horizon. According to analysts from Coincodex, general sentiment in the JUP market remains bearish with the Fear & Greed Index of 32 suggesting investors are highly cautious about engaging the market at the moment. However, these analysts are strongly confident in JUPs bullish potential, projecting a price gain of 227% in the next month. At press time, Jupiter continues to trade at $0.52 following a price increase of 3.50% as earlier stated. Meanwhile, the assets daily trading volume has increased by 21.78% and is valued at $42.57 million. Featured image from National Geographic Kids, chart from Tradingview
To empower India’s Crypto Adoption, the global fiat-crypto payment service provider, Alchemy Pay has started supporting India’s Unified Payment Interface
MetaMask, the premier Web3 wallet, has joined forces with Onramp.money, backed by India’s largest cryptocurrency exchange Bitbns, to bring seamless access to the world of cryptocurrency to Indian users. With this partnership, Indian users will be able to buy cryptocurrency directly from within the MetaMask app by utilizing Onramp.money’s API, which offers support for popular […]
The Central Bank of Indonesia plans to accelerate the digitalization of the payment system by creating the Digital Rupiah currency, as well as expanding international payment systems, in 2023. In his speech at Bank Indonesia Annual Meeting, the Governor of Bank Indonesia discusses the economic accomplishments of the last year as well as their plans […]
Berkshire Hathaway CEO Warren Buffett says he won’t buy all the bitcoin in the world for $25. Meanwhile, his longtime business partner and right-hand man, Charlie Munger, says bitcoin is stupid and evil, noting that the cryptocurrency makes him look bad. Warren Buffett Explains Why He Won’t Buy Bitcoin Warren Buffett and Charlie Munger talked […]
NPCI’s formal directive on the use of UPI payment method for crypto transactions is unlikely to come soon. (Read More)
Citi Group is looking to fill 100 jobs in its digital assets team. The news comes after the bank recently launched a digital assets group as part of its effort to respond to its customer demands for crypto products. (Read More)
Just when financial institutions in India were reportedly softening their stance on crypto, a prominent bank in the country has stopped payments to crypto exchanges through UPI. According to reports, the country’s largest lender, State Bank of India [SBI] has stopped payments to cryptocurrency exchanges using its UPI option. This news comes months after several […]
For a minute there, it seemed like the FUD was over. The People’s Bank of China contributes to its country’s crypto-crackdown at the “Financial Knowledge Popularization Month,” People’s Daily Online reports from Beijing. Speaking at an event, Yin Youping, Deputy Director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China, claimed: “We remind the people once again that virtual currencies such as Bitcoin are not legal tender and have no actual value support.” Related Reading | “The Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article Furthermore, Yin Youping classified all cryptocurrency-related investments as pure speculation. He advised the public to “consciously stay away” from virtual assets to avoid unnecessary risk, and to “protect their “pocket.” Nothing crazy coming from a fiat-fuelled bureaucrat. Nevertheless, an interesting new piece in China’s crypto-puzzle. Disclaimer: This article used Google-Translated quotes and information. Small inconsistencies are a possibility. What Else Did The People’s Bank Of China Said? Besides contributing to China’s crypto-crackdown, Yin Youping responded to the “rebound” in cryptocurrency trading in his country. The People’s Bank of China will: Work overtime to “detect overseas exchanges and domestic traders.” Block “trading websites, apps, and corporate channels.” Intensify “policy publicity,” to let everyone in China know the law of the land. Establish “a normalized working mechanism” and continue to crack down on cryptocurrency transactions. Maintain “a high-pressure situation.” The People’s Bank of China’s aim is pretty clear. And it seems to be working, Youping claimed that “the popularity of virtual currency trading has dropped significantly.” The Deputy Director also encouraged the general public to report “illegal fund-raising crimes” to the relevant authorities. BTC price chart for 08/27/2021 on Bitstamp | Source: BTC/USD on TradingView.com Does This Offer Insight Into China’s Crypto Strategy? In a thread summarizing the case, Chinese journalist Colin Wu gave us inside information that wasn’t part of the article. “By blocking exchanges and strengthening policy publicity, China’s popularity has dropped significantly.” 3. By blocking exchanges and strengthening policy publicity, China's popularity has dropped significantly4. Crack down on illegal fund-raising activities with virtual currency and blockchain. — Wu Blockchain (@WuBlockchain) August 27, 2021 One of the surprising revelations from Chainalysis’ Global Crypto Adoption report is that P2P trading “declined dramatically” in China. At the time, we naively asked: Why are Chinese people abandoning P2P trading so radically? Wouldn’t the “government crackdowns on cryptocurrency trading” cause a surge in old P2P trading instead? This “high-pressure situation” that the People’s Bank of China maintains might be the answer to both questions. As we learned, both “the popularity of virtual currency trading” and “China’s popularity” dropped significantly. China’s cracking down on the general population as much as on their biggest industries. Bloomberg tried to explain their moves by defining the “New China Model” as: If China is abandoning the Silicon Valley model, what will it replace it with? Insiders suggest it will be less founder-driven and more China-centric. Related Reading | China Banned Bitcoin Mining. What Happens To Small Hydropower Stations Now? We finished that article with more questions than answers. From “Why is China dwarfing its biggest industries and players? Is the “China Model” just concerned with scale?” To “Is their crackdown on Big Tech even related to their crackdown on Bitcoin mining?“ And concluded: There’s only one thing we can know for sure: China’s making big coordinated moves when it comes to tech. And they seem to have a plan. Maybe their plan is simpler than we thought. It’s possible that The People’s Bank of China is just going to make it really really hard for the common citizen to access Bitcoin. And, China’ll use propaganda and repetition to keep people in check and scared of the unknown. One of Bitcoin’s prototipical adversarial scenarios. A battle that Bitcoin expected sooner or later. Featured Image by Bruce Röttgers on Unsplash - Charts by TradingView
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