Year: 2023

“Ethereum’s native token, Ether, is struggling to surpass the $2000 mark. It faces technical levels resistance linked to the U.S. dollar strength and Bitcoin’s market momentum. Ethereum ecosystem’s total-value-locked (TVL) decrease, and falling trends in active wallets and Non-Fungible Tokens (NFTs) volumes add to the challenge.”

“Investors use long and short strategies to speculate on crypto price movements, buying when they anticipate value increase and selling in anticipation of price drop. However, these involve risks due to market unpredictability. It’s vital to understand local tax laws and keep meticulous records for tax compliance.”

ProShares Advisors has marked ether’s inaugural entry into the ETF market with six new futures products. These ETFs, backed by ether’s futures contract performance, provide regulated crypto market exposure. This development coexists with the ongoing SEC review of a prospective spot bitcoin ETF.

XRP, the cryptocurrency standing at rank #5 based on the CoinMarketCap, is prompting speculation of bouncing back as its trading volume surpasses the $500 million mark daily, with its price at $0.52255. Despite appearing bearish, the technical indicators hint at a likely bullish trend continuation at the $0.5200 marker.

“Bitcoin might hit a promising valuation of $28,435 by mid-October, a prospective 9% climb with the recent Nonfarm Payroll data showing boosted job positions. Bitcoin trades at $27,922, indicating a 4% raise over the past week, with a robust 24-hour trade volume exceeding $13 billion.”

“The four-hour timeframe sheds light on promising price action for Bitcoin, showing a soaring labor market in the cryptocurrency domain. The current Bitcoin price stands at $28,000, demonstrating a robust 24-hour trading volume of around $12.63 billion, reflecting an overall bullish sentiment.”

“Bitcoin shows determination to climb back over the $28,000 limit, despite an initial drop following the release of robust U.S job figures. Anticipation of continued ascension within the primary uptrend is palpable, potentially triggering swift move back above $30,000, with an accelerated 7-8% gain.”

AVAX, the engine behind the Avalanche blockchain protocol, has experienced significant gains, augmented by the launch of Stars Arena, a SocialFi platform on its blockchain. Rising on-chain activities and increased traction in Star Arena could further solidify AVAX’s price stance, potentially leading to significant future growth.

“Blockchain’s role in decentralized finance (DeFi) experienced a record-breaking incident in September 2023, with over $300 million lost to exploitations. Despite security challenges, DeFi’s potential continues to attract diverse industries, but is also pressured by global regulations and business demands.”

The analytics company, FundStrat, reveals a consistent contraction in venture capital funding for crypto companies, largely due to ongoing market stagnation. Despite reduced numbers, interest in crypto remains. Crypto infrastructure companies and Web3 and NFTs have seen significant investments. Investors are urged to consider high-risk-high-reward strategies in crypto presales.

“A notable Bitcoin options expiry event involving roughly 14,000 contracts, valued around $400 million, is set for October 6. With a ‘max pain’ point at $27,000, and a near even split between long and short positions, this event could significantly influence the market. Alongside, 200,000 Ether options contracts also expire, potentially altering the market dynamics.”

“Binance, the world’s top cryptocurrency exchange, continues to undergo a significant drop in its spot market share, marking the 7th consecutive month of decline. The report attributes this decrease to the end of a zero-fee trading promotion, escalating regulatory concerns, and increased competition from alternative platforms. This suggests that short-term promotional strategies may not prove sustainable amid persistent regulatory challenges.”

As U.S. cities and organizations initiate basic income pilot programs, a potential surge in crypto trading is predicted. A 2020 study showed a rise in Bitcoin trades after distribution of economic stimulus checks. Upcoming trials providing unconditional cash transfers may lead to increased trading in cryptocurrencies including AVAX, Bitcoin Minetrix, Rollbit Coin, Meme Kombat, and ADA.

The upswing in Solana’s (SOL) price can be attributed to three factors: the recovery following a major court ruling, increased usage of decentralized applications (Dapps) on the Solana network, and a network upgrade. However, competition from Ethereum’s layer-2 solutions and external factors remain challenges.