Category: Crypto market

Bullish BTC and Ethereum Price Breakout Soon As Fees Fall?

Posted on by Skerdian Meta

Bitcoin (BTC) and Ethereum have been consolidating in a range in February after the retreat, which points to a bullish breakout soon, as buyers keep testing the upside, while fees have been reduced.

Bitcoin has been showing a stronger bullish momentum than Ethereum

Continue reading “Bullish BTC and Ethereum Price Breakout Soon As Fees Fall?” →

Forex Signals Brief Feb 21: Weak Manufacturing PMI Could Weaken USD Further, Boost Gold Prices

Posted on by Skerdian Meta

The USD tumbled 1 cent lower yesterday while Gold printed a new high, so a softer PMI manufacturing read would amplify the moves today.

Manufacturing activity remains in recession in Europe

Continue reading “Forex Signals Brief Feb 21: Weak Manufacturing PMI Could Weaken USD Further, Boost Gold Prices” →

Mike Novogratz Bullish on Ripple (XRP), Cardano (ADA)

Posted on by Olumide Adesina

The founder of Pantera Capital, Dan Morehead, and cryptocurrency tycoon Mike Novogratz recently appeared on “Galaxy Brain” to discuss the viability of the XRP token, which is associated with Ripple.

According to Novogratz, ‘They started early when there were not as many choices and they built communities,” which is why Cardano or XRP is still one of the bigger coins.

“I believe that without utility, new projects will have a harder time becoming sustainable. Yes, the valuations aren’t useful right now,”   

Novogratz continued. Novogratz, who previously criticized  ADA and XRP, spoke positively about the latter earlier this year, stating that anyone should be able to purchase the Ripple-affiliated token. Michael Edward Novogratz has a net worth of $2.5 billion

He asserted that the cryptocurrency’s compelling story keeps the community interested. By market capitalization, XRP is still the third-largest cryptocurrency following its spectacular resurgence in the fourth quarter of 2024. It is worth $157 billion at the moment.

Mike likened the XRP army to Tesla’s fan base, which sent the company viral long before it grew into the massive electric car company it is today. Although the community behind Tesla didn’t care, Wall Street analysts at the time insisted that the company’s valuation didn’t make sense.

Ripple’s token has been a battlefield for years, pitting its most ardent supporters against its scathing detractors.  Even after the SEC sued Ripple, XRP supporters remained steadfast.

They promoted Ripple’s goal of making cross-border payments affordable, quick, and available to everyone on all social media platforms, including Instagram, Twitter, and  TikTok. They posted memes, made hashtags, and shared their message on these platforms.

 

 

 

 

 

Traders Dump Pi After Launch

Posted on by Olumide Adesina

Pi Network became very active today as users traded Pi Coins on cryptocurrency exchanges.

The development is a relief and a significant milestone for the Pi ecosystem especially for those who have mined the tokens over the previous years.

Pi Coin has seen sharp drops in value. According to CoinGecko data, it traded at $2.2 during the open mainnet launch before falling below 65 cents.

Even though PI has a huge market capitalization, it has very little liquidity on exchanges. OKX is the most liquid platform for this token, with a 2 percent market depth that varies between $33,000 and $60,000, a crucial measure of market liquidity.

The market is highly volatile because it would only take a transaction worth a few tens of thousands of dollars to affect prices significantly.

Pi Network, a company with 60 million users, has frequently been likened to viral projects from earlier cycles, such as SafeMoon, which was well-known for its aggressive marketing strategies and generous referral programs.

An existing member must invite a user to begin mining PI tokens. Following that, the user can refer other users, earning more rewards.  Early adopters have a disproportionate advantage over newcomers, much like in multi-level marketing (MLM)

The most recent trends point to holder sell-offs despite recent community support for the project.

Pi Coin is used for peer-to-peer payments, doing away with the need for conventional banks. Additionally, developers can design decentralized apps (dApps) that use DeFi, gaming, and Pi Coin for transactions.

JP Morgan Bearish on Bitcoin & Ethereum

Posted on by Olumide Adesina

JPMorgan analysts issued warnings as institutional investors lose interest in Bitcoin and Ethereum.

The Chicago Mercantile Exchange (CME) futures contracts for Ethereum and Bitcoin are getting close to a situation known as “backwardation,” in which futures prices drop below spot prices.

This change implies that institutional demand for these assets is declining. Strong demand has traditionally been linked to “contango,” a market state in which futures prices are higher than spot prices, indicating optimism and expectations of price growth.

The shift to backwardation reflects the more volatile and uncertain market conditions in mid-2024.

The investment analyst hinted at the following variables,

Absence of Positive Catalysts: Some institutional investors have decided to secure profits and limit their exposure because of the crypto space’s lack of noteworthy positive developments or news.

Price volatility may increase if institutional participation declines because a larger portion of the market is retail investors, with different risk tolerances, and investment horizons.

Market Attitude: Institutional investors frequently have an impact on market attitude. They may become less involved, which could erode confidence and cause more sell-offs or hesitancy to enter the market.

The market has an opportunity to correct itself and address the factors causing institutional hesitancy, even though the current decline in future demand may present short-term difficulties.

Forex Signals Brief Feb 20: Eyes on Jobless Claims and Donald Trump

Posted on by Skerdian Meta

Today the US unemployment claims and comments from Washington will be the focus of financial markets, so all markets are at risk, considering the recent price action.

Unemployment Claims to Remain Little Changed in November

Continue reading “Forex Signals Brief Feb 20: Eyes on Jobless Claims and Donald Trump” →

TRUMP Token announces Airdrop

Posted on by Olumide Adesina

The TRUMP meme coin project, linked to US President Donald Trump, has launched an airdrop to reward buyers of authentic Trump merchandise.

Originally launched as a President’s Day promotion, the airdrop recognizes loyal fans and seeks to expand the TRUMP cryptocurrency community.

Those who purchased qualified things before February 15, 2025, have until March 1, 2025, to claim their TRUMP tokens.
Those who made eligible purchases at specific Trump stores, such as Trump-branded watches, footwear, cards, and fragrances, will receive three TRUMP tokens as part of the airdrop.

However, email verification is required to claim tokens.
The offer benefits the item line’s supporters and broadens the TRUMP token community. Furthermore, the TRUMP token, whose value has varied since its inception, was launched one month before the airdrop launch.

TRUMP token dropped after an initial spike that saw it hit an all-time high. The drop was caused by a lack of enthusiasm and economic factors like tariffs that reduced its value. The token experienced a new all-time low, demonstrating its erratic market performance. Notwithstanding these difficulties, the TRUMP coin’s price increased by 3% in the last day, reaching $17, despite a huge dip in trading volume.

President Trump Posts XRP on TruthSocial

Posted on by Olumide Adesina

President Donald Trump’s post on his TruthSocial account recently caused a stir in the cryptocurrency market, particularly among the XRP community. Known as the “Trump Effect,” Trump’s post emphasized the growing belief that his influence is advantageous for cryptocurrency.

 

The fact that he brought up Ripple and XRP has heightened market speculation and sparked inquiries about the potential implications of this change for the nation’s digital assets.

“Donald Trump effect bumps Ripple Labs American deals, XRP gains,” read Trump’s TruthSocial post.

This change in emphasis toward the U. S. market is a component of Ripple’s reaction to the “Trump Effect,” which is thought to favor cryptocurrencies in America.

Trump’s recent remarks have reignited discussion regarding his possible influence on the regulatory landscape surrounding cryptocurrencies.

Although he used to be critical of digital assets, his recent remarks indicate that his views have softened, with many speculating that an administration supported by Trump might be more receptive to encouraging crypto innovation.

According to the “Trump Effect,” companies operating in the blockchain and cryptocurrency space now perceive the U. S market with fresh hope. Among those modifying their tactics in reaction to the changing political landscape is Ripple Labs, a business facing regulatory scrutiny from the Securities and Exchange Commission (SEC).

Forex Signals Brief Feb 19: RBNZ Cuts Rates by 50 bps, UK Inflation and FOMC Minutes to Come

Posted on by Skerdian Meta

Today the RBNZ delivered another 50 bps rate cut, so we’re keeping a bearish bias for NZD pairs, while later we have the US inflation and FOM meeting minutes.

The RBNZ lowered interest rates by 0.50% again

Continue reading “Forex Signals Brief Feb 19: RBNZ Cuts Rates by 50 bps, UK Inflation and FOMC Minutes to Come” →