Bitcoin’s price has experienced a notable decline, dropping below the $61,000 mark as the bearish momentum intensifies. A major contributing factor to this downturn is the continued outflows from the Grayscale Bitcoin Trust (GBTC) and other Bitcoin Exchange-Traded Funds (ETFs).  On May 10, GBTC reported an additional $100 million in outflows, bringing the total outflows across all 11 Bitcoin ETFs to $84 million. This trend indicates a waning interest among investors in Bitcoin ETFs, putting further pressure on the market. BTC/USD 24-hour price chart (source: CoinMarketCap) Institutional Holdings and Market Sentiment Despite the outflows, traditional banking institutions have disclosed their…

Toncoin (TON) experienced a significant price surge, climbing over 15% to trade above the $6.50 resistance level. This price action reflects a robust bullish sentiment among investors, propelling the token to outperform major cryptocurrencies like Bitcoin and Ethereum. The price recently peaked close to $7.00, marking a notable high of $6.93 before entering a consolidation phase around the $6.80 zone.    TON/USD 24-hour price chart (source: CoinMarketCap)   TON Technical Indicators and Market Analysis Several technical indicators highlight Toncoin’s current bullish trend. The presence of a parabolic curve on the hourly chart of the TON/USD pair, with support at…

Pepe (PEPE) has shown a promising upward trend, indicating a potential 27% rally. After a recent dip, the price of PEPE is positioned to bounce back from a crucial support level of $0.0000077, which could catalyse a surge to $0.0000100.  Whale activity, particularly the significant selling of PEPE tokens, has historically signalled an impending price increase. Over the past week, whales have sold approximately 2.5 trillion PEPE, worth nearly $20 million, which may indicate an optimistic outlook for the meme coin. PEPE/USD 24-hour price chart (source: TradingView) Whale Behavior and Investor Incentives Whale addresses, which hold substantial amounts of PEPE,…

Litecoin (LTC) has recently been in bullish momentum, showing significant resilience and growth in the cryptocurrency market. As of press time, Litecoin’s price was exchanging hands at $81.81, with a substantial 24-hour trading volume of $353,415,845.  The cryptocurrency has gained 2.47% in the last 24 hours, according to real-time data from CoinMarketCap, currently ranking #19 with a live market cap of $6,095,781,423. LTC/USD 24-hour price chart (source: CoinMarketCap) Litecoin’s Surge in Transactions Litecoin has observed a noteworthy increase in its transaction usage, surpassing Bitcoin in the number of payments processed through BitPay, a popular cryptocurrency payment service provider. In April,…

Litecoin (LTC) has seen a significant surge in trading volume recently. However, this uptick in trading activity comes amid a bearish sentiment dominating the market, as noted by Coincodex. Created by Charlie Lee to address Bitcoin’s limitations, Litecoin aims to facilitate faster transaction times and enhanced efficiency. Since its launch in 2011, Litecoin has positioned itself as a digital currency optimized for peer-to-peer transactions and online purchases. Litecoin holds the 19th position in the cryptocurrency market by market cap. Despite a slight 1.12% drop to $6,020,781,558 in its market cap over the last 24 hours, the overall sentiment remains cautious.…

Bitcoin’s (BTC) price has been in a bearish trend, and it faces challenges to sustain its momentum as it hovers around the $62,000 mark. Despite recent rebounds, Bitcoin’s price action has struggled to find a clear direction, leaving investors and traders needing more certainty. At press time, BTC was exchanging hands at $62,283, a 2.87% decline from the intra-day high.                                            BTC/USD 24-hour price chart (source: CoinMarketCap) Bitcoin Price Consolidation Continues Bitcoin’s price momentum has been characterized by consolidation within…

Toncoin (TON) has been trending downward over the last 24 hours, reflecting broader market bearishness. According to the latest data from CoinMarketCap, the cryptocurrency is currently trading at $5.87, marking a decline of 2.12%. Despite this, it maintains its position in the top 10 cryptocurrencies with a live market cap of approximately $20.4 billion. TON/USD 24-hour price chart (source: CoinMarketCap) This downturn aligns with a volatile shift in the digital currency markets, indicating a consolidation phase for many leading cryptocurrencies. While the overall crypto market faces downward pressure, TON’s status among the elite assets highlights its significant market presence and…

Solana (SOL) has demonstrated resilience in its price performance despite facing headwinds from broader market challenges. During the day, the SOL exchanged hands between an intra-day high and low of $150.43 and $159.05. However, the current price of $155 reflects a 0.75% rise for the day and a notable 21% increase over the week.  SOL/USD 24-hour price chart (CoinMarketCap) Amidst this rally, SOL has continued to face pressures from increased competition and regulatory uncertainties within the cryptocurrency market. Increased Competition and Regulatory Challenges One significant factor impacting SOL’s performance is the intensified competition among blockchain networks focusing on decentralized applications…

Fetch.ai (FET) has experienced a robust rally over the last 24 hours after finding support at $2.19, showcasing a significant rebound and an uptick in market activity. Priced currently at $2.44, the token recorded a remarkable 10.22% increase in a single day, indicating growing investor confidence in the asset. FET/USD 24-hour price chart (source: CoinMarketCap) The price action began at the $2.19 level, where FET consolidated before embarking on a steady upward trajectory. The rally was accompanied by a notable 55.86% increase in trading volume to $295,991,479, suggesting strong buying pressure and heightened interest. Market capitalization also rose significantly to…

Dogecoin (DOGE) has been in a bullish rally, recording a 20% price increase after Tesla, the renowned electric vehicle and clean energy company led by Elon Musk, introduced the cryptocurrency as a payment method for specific products on its online store. The update was confirmed via a detailed FAQ section on Tesla’s official website, explaining that Dogecoin can now be used for transactions. At press time, DOGE was trading at $0.1605, a 6.40% surge from the intra-day low of $0.1502. Concurrently, the 24 hour trading volume and market capitalization surged by 95% and 6.50% respectively to $2,911,697,159 and $23,143,158,208.  DOGE/USD…