In a significant development within the crypto market, a notable transfer of 250 million Dogecoin (DOGE), valued at approximately $20.67 million, has been observed today. The transaction, originating from prominent U.S. brokerage Robinhood and directed to an undisclosed wallet, has garnered attention within the digital currency community.
Bitcoin has recently surpassed the $50,000 mark, a significant milestone in its price trajectory. This surge has caught the attention of John Bollinger, a renowned technical analyst and creator of Bollinger Bands, a popular analytical tool among traders.
The cryptocurrency market has started the new week on a bearish note, with most cryptocurrencies experiencing a decline in value. According to CoinStats, the rate of DOGE has fallen by 3% over the past 24 hours, while SHIB has gone down by 2.64%.
Over the weekend, the XRP community engaged in a passionate debate about the future of the XRP token. The discussion was sparked by a post from Nick 'Crypto Crusader' (@NCashOfficial), who labeled the Ripple-affiliated token as a 'scam' and claimed it was 'dead.' Nick highlighted the growing fear, uncertainty, and doubt (FUD) among token supporters due to its underperformance despite Ripple's success. He also mentioned the impact of the FTX crash, which some believed would negatively affect major exchanges like Binance and Coinbase. However, the market rebounded in January 2023, proving the doubters wrong. Nick's message to XRP fans was clear: XRP should not be held by the faint-hearted, especially during periods of high volatility and bearish sentiment. The post attracted significant attention from XRP enthusiasts, with responses ranging from optimistic to emphasizing long-term investment strategies and the value of Ripple's developments.
Bitcoin's ability to overcome strong resistance at current levels is crucial for the start of a proper altcoin rally, according to a seasoned crypto trader and educator.
Bernstein analysts predict a potential record-breaking rally for Bitcoin (BTC), suggesting that the best days for the digital currency are still ahead. Despite the current stability of Bitcoin, the level of interest has not yet reached the peaks observed in previous years. However, the analysts believe that the introduction of Bitcoin exchange-traded funds (ETFs) and the fear of missing out (FOMO) will drive Bitcoin to achieve unprecedented highs.
The crypto ecosystem has experienced a significant influx of funds from institutional investors, according to data from CoinShares. In its weekly report, CoinShares revealed that the overall inflow into the crypto market reached $1.1 billion, bringing the year-to-date flow to $2.7 billion.
Dogecoin (DOGE), once celebrated for its unexpected rise from a meme to a major digital asset, has fallen out of the top 10 cryptocurrencies by market capitalization.
Cardano, the eighth-largest cryptocurrency by market capitalization, has recently gained traction, with bulls pushing the ADA price to a six-day high of $0.566 on Feb. 11. Although ADA prices have retreated, the cryptocurrency is still up 7% weekly.
Dogecoin (DOGE) is experiencing a decline in its market performance, with several key metrics sliding backward over the past week. The current price of Dogecoin has dropped by 3.14% to $0.07998, reaching a low of $0.07964 overnight. This decrease in price has resulted in Dogecoin being removed from the top 10 list of cryptocurrencies by market cap, a demotion that has not occurred in over a year.
BoneShibaSwap (BONE), a Shibarium gas token, has seen an increase in netflows over the last 24 hours.
A substantial amount of Solana (SOL) worth approximately $10.5 million was recently transferred to the Binance exchange, catching the attention of cryptocurrency enthusiasts and investors. The transaction, involving 99,999 SOL, was highlighted by Whale Alert, a popular service that tracks significant blockchain transactions.
Cardano has experienced an unprecedented surge in fund inflows, with a staggering 1,016% increase in ADA-oriented investment products within just one week. According to a report by CoinShares, Cardano saw an influx of $6.1 million, propelling it into the spotlight as one of the top contenders in the cryptocurrency market.
As the Ethereum network continues to evolve, its native asset is gaining traction on the market. The price of Ethereum has been steadily increasing, with the possibility of reaching the $3,000 mark.
According to CoinStats, most coins are experiencing an upward trend on the last day of the week. Bitcoin (BTC) has seen a 1.72% increase in price since yesterday, reaching a level close to $49,048. However, traders should closely monitor the candle closure, as a dip below yesterday's peak could indicate a correction to the nearest support zone at $46,000. At the time of writing, Bitcoin is trading at $48,122.
Bitcoin's (BTC) price has garnered significant attention recently as it edges closer to the $50,000 mark, driven by a bullish weekly divergence. Top crypto analyst Michaël van de Poppe took to X (formerly Twitter) to highlight Bitcoin's impressive trajectory, noting its recent break above the $48,000 barrier.