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Crypto Industry Q3 2024 Report: Key Trends And Highlights

The crypto market remained mostly flat in Q3 2024, with the total market cap ending the quarter at $2.33 trillion, reflecting a slight 1% drop. Despite this, the quarter was marked by volatility due to external factors, such as the Federal Reserve's rate changes and Japan's surprising rate hike. Here are the most notable insights from the Q3 report: 1. Crypto Market Performance: The market cap peaked at $2.61 trillion on July 22 before plummeting on August 6, driven by global economic concerns. Average daily trading volume stood at $88 billion, a 3.6% decrease from Q2. 2. Bitcoin Dominance: Bitcoin’s dominance surged to 53.6% of the total market, a 2.7% increase quarter-over-quarter. Conversely, Ethereum saw the biggest decline in dominance among the top seven cryptocurrencies, dropping 3.6% to close the quarter with a 13.4% market share. 3. Asset Class Performance: […]

Will Izuchukwu October 16, 2024

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Crypto Market Overview: Key Developments And Market Sentiments

Last week, the "Fear and Greed" index averaged around 25, signaling a market filled with uncertainty and bearish sentiments. Let's delve into some notable events across the cryptocurrency landscape. Market Performance: $BTC: Bitcoin's price remained relatively stable, fluctuating between $58,000 and $61,000, with minimal movement over the weekend. $ETH: Ethereum mirrored Bitcoin’s price trend, oscillating between $2,500 and $2,600. ETF Highlights: ETFs: The U.S. Bitcoin ETF is on track to surpass the holdings of Satoshi Nakamoto by October. Notably, BlackRock's ETF holdings have reached approximately $21.2 billion, overtaking Grayscale for the first time. Major Altcoin Updates: $BNB: Binance Labs has invested in Sahara AI and My Shell AI to support the development of open and equitable AI systems. $OP: Optimism has unveiled a new protocol layer designed to address liquidity fragmentation within its ecosystem. $JUP: Jupiter Exchange announced plans to […]

Will Izuchukwu August 20, 2024

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Market Rebound: Bitcoin and Altcoins Lead The Charge

Since yesterday, the market has been favoring both Bitcoin and altcoins, signaling a strong rebound. Despite recent dips, the Bullish Falling Wedge pattern remains intact for $RIO. The price of $RIO made a significant recovery, forming a hammer pattern when it touched 80 cents. Currently, $RIO is trading at $0.94, eyeing a reclaim of the $1 mark. https://twitter.com/oct_trades/status/1820726775904702620?t=F54SMpEMCFsUFtH2MW1DiA&s=19 The rapid recovery of $RIO amidst a major market downturn is noteworthy, underscoring the unpredictable nature of both stocks and cryptocurrencies. While many investors faced losses during the crash, this rebound offers a glimmer of hope and showcases the resilience of certain assets. https://twitter.com/ja1405_ja/status/1820714739619774508?t=7zQtBk8Sbtl00qdVUFa7Rw&s=19 Market volatility can be nerve-wracking, but maintaining a calm demeanor and adhering to a long-term strategy often yields the best results. According to iCrypto, there has been a high buy volume from Smart DEX Traders over the past […]

Will Izuchukwu August 7, 2024

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Market Surge Following Fed Statements: Bitcoin And Stocks Rally

Following the Federal Reserve's positive statements, both the stock market and Bitcoin have shown robust recovery, with Bitcoin surging by 13%. This upward momentum has positively impacted the broader market, raising hopes for favorable news on the Bitcoin ETF, particularly from BlackRock. https://twitter.com/iCryptoAI/status/1820639447995887862?t=3xJxMUPhqEdr_-ndm0v9WA&s=19 Top Gainers and Market Trends Among the top gainers are $NEIRO, $ANDY, $BITCOIN, $PEIPEI, $BRETT (on Base), $MIGGLES, and $SATS. The meme coin trend is leading the charge, closely followed by Ethereum. Additionally, the Base ecosystem is garnering significant attention. Notable Accumulation and Market Movements $TAO has seen strong accumulation by smart money, despite already rising 49% from yesterday's bottom. It is showing notable strength on the charts, having validated its support at $186 and making its way toward $348 with substantial volume. The expectation is for Bitcoin to remain bullish, which could further support $TAO's upward […]

Will Izuchukwu August 7, 2024

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Saturday Brings Relief To Crypto Markets With Ethereum and Solana Leading The Bounce

Weekend is finally bringing a bit of solace to the crypto markets, with mild bounces forming for Ethereum (ETH) and Solana (SOL). ETH has managed to climb back just above $3,000, while SOL is trading slightly above $150. This recovery comes after a period of heavy liquidation of long positions during the market drop. The hope now is that the market's greed remains tempered, paving the way for a sustained weekend relief rally. https://twitter.com/santimentfeed/status/1819717554505441645?t=5VBgNjlBqwCYQDEgZwfCZw&s=19 This recent dip is reminiscent of the one experienced in early July. However, the same level of enthusiastic dip buying seen previously hasn't emerged yet. Traders are closely watching key psychological levels such as $60,000 for Bitcoin (BTC) and $2,900 for ETH. Reaching these levels may provide the necessary confidence for traders to start investing heavily again. https://twitter.com/santimentfeed/status/1819547131499405666?t=T15QreRmDUMR6iFlbZDoQw&s=19 Massive Net Outflow On Spot Bitcoin ETF On […]

Will Izuchukwu August 5, 2024

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Babylon’s Staking Protocol: Pioneering Restaking On Bitcoin

Babylon's staking protocol, designed to support multiple chains, is making waves with its ambitious plans to implement restaking on Bitcoin. While restaking on Ethereum has been explored by teams like @eigenlayer and @symbioticfi, Bitcoin's lack of smart contracts poses significant challenges. However, the substantial market presence of Bitcoin, which comprises over 50% of the industry's market cap, makes this endeavor worthwhile. https://twitter.com/0xkrane/status/1816463519975461326?t=Z9Zs5mDbG6ydMFYNXN90Rw&s=19 If BTC restaking becomes viable, it could significantly reduce the bootstrapping costs for AVSs or restaking consumers. Additionally, it would provide more auditable, on-chain yield-generating options for Bitcoin, a first at scale. Babylon’s innovative use of Extractable One Time Signatures (EOTS) for slashing and the repurposing of their timestamping protocol for fast unbonding further highlight their technical ingenuity. Last Friday, Babylon and @SolvProtocol jointly opened an early pledge quota of 500 $BTC, which sold out in just two […]

Will Izuchukwu July 25, 2024

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Altcoins Surge Amid Bitcoin Profit Redistribution: Social, BSC, and Gaming Sectors Lead

As Bitcoin's price soars to a peak of $71.7K, altcoins are experiencing significant gains driven by profit redistribution. In the past week, altcoins in the social sector have seen an average rise of 11.4%, those on the BSC and Binance Chain have risen by 6.9%, and the gaming sector has increased by 6.5%. https://twitter.com/santimentfeed/status/1798507585160790351?t=FnNxVJ--vTuBS7JqoaLpUw&s=19 Among the top performers are Cardano, Shiba Inu, and Jasmy, each benefiting from heightened whale interest. The volume of $100K+ transactions on these networks has more than doubled this week compared to the usual 2024 averages, indicating strong accumulation activity. Cardano, a well-established player in the blockchain space, has seen a notable uptick as large investors flock to its network. The increased transaction volume reflects confidence in Cardano's long-term potential and its robust ecosystem. https://twitter.com/santimentfeed/status/1798485319551168939?t=FMPqbM6OLjPPXTf-bU0bEQ&s=19 Shiba Inu, often dubbed a "meme coin," is demonstrating its growing […]

Will Izuchukwu June 7, 2024

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Bitcoin Whale Activity Declines Despite ETF Trading Volume Surge

Bitcoin's whale wallets, those holding over 100 BTC, have maintained a significant coin supply at 11.79 million. However, whale activity has hit its lowest level in 2024, with only 15,907 wallets holding at least 100 BTC. This represents a decline of 76 wallets, or 0.48%, over the past two months. A rise in these large holdings would be a bullish indicator for Bitcoin’s market outlook. https://twitter.com/santimentfeed/status/1791213881722806555?t=gp--HHm3N-0RugAdaQA_Gg&s=19 Despite the drop in whale activity, the Bitcoin market has shown positive signs elsewhere. According to Santimentfeed, trading volumes for seven major Bitcoin ETFs have surged to $5.65 billion, the highest since March 24. This increase in ETF trading volume is a strong positive signal for the market, coinciding with Bitcoin's price reaching the $67,000 mark once again. https://twitter.com/TKralow/status/1791084739933208612?t=6OPVZ9A0DUl-n4FEgYkVYg&s=19 Bitcoin BTC ETF Net Inflow Makes Fourth Positive Consecutive Days  The net inflow for Bitcoin […]

Will Izuchukwu May 18, 2024

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Bitcoin Faces Crucial Support Amidst Shifting Accumulation Trends

Recent developments in the Bitcoin market have sparked speculation and uncertainty among investors, as key indicators point to potential shifts in accumulation patterns and price dynamics. For the first time since October 2023, there has been a noticeable change in Bitcoin's Accumulation Trend Score, now standing at 0.27. This shift suggests a possible alteration in the behavior of BTC whales, signaling either a distribution of holdings or a pause in accumulation. https://twitter.com/ali_charts/status/1780305407262544306?t=0qNMHvg5EAyAzpBeGNnR6w&s=19 Analysts emphasize the importance of the $62,000 support level for Bitcoin, highlighting its significance in determining the cryptocurrency's short-term trajectory. A breach of this support level could shift focus to the next significant demand area around $51,500, raising concerns about further downside potential. https://twitter.com/ali_charts/status/1780370335273005138?t=s3nxQweXHm_DGKGCFvdZTA&s=19 Bitcoin Push To 66K Could Spell Bullish Momentum And ETF Net Inflow Data However, amidst the uncertainty, there remains a glimmer of hope for […]

Will Izuchukwu April 18, 2024

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Bitcoin’s Recent Price Drop Triggers Significant Liquidations Amid Inflation Concerns

Bitcoin experienced its first drop below the $67,000 mark since April 4th, resulting in over $850 million in liquidations within the past day. This downward trend has also affected other asset classes, including the SP500 and gold, indicating broader concerns regarding CPI and inflation across various sectors. https://twitter.com/santimentfeed/status/1778899101939011588?t=zrWby7ESGii2LhefluHpnA&s=19 Comparing the current phase of Bitcoin's market cycle to previous ATH breaks suggests that the current Euphoria phase, characterized by market price discovery, is still in its early stages. Historically, Euphoria phases have witnessed substantial price corrections exceeding -10%, with many surpassing 25%. However, the current market has only seen two corrections of approximately 10% since breaking its ATH. https://twitter.com/glassnode/status/1778798514639634583?t=fxgFKpV7RQgH6d-Fu_QwFw&s=19 Amidst a month of price fluctuations, traders are eagerly awaiting the resumption of the crypto bull run. One key indicator to monitor during this period is the Mean Dollar Invested Age, which […]

Will Izuchukwu April 14, 2024

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