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Exploring the Future of Cryptocurrencies With Australia’s Veteran Bitcoin Exchange

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The initial rate of 1 bitcoin was about $0.0009. BTC had a peak value of over $65,000 in 2021.

Many people look back at the Bitcoin price from years ago and regret not buying, but investing in hindsight, is always easy.

We have lived through the rise and fall of cryptocurrencies again and again. With every piece of news affecting the value of crypto positively or negatively, you may need Santa to give you a wishing sock for New Year’s.

Over 14 years since its inception, the growth of cryptocurrency has been nothing short of awe-inspiring. To predict that currencies that the government did not introduce would thrive and gain such widespread adoption, one would’ve needed concrete faith. As a cryptocurrency enthusiast, won’t you gladly pay a legit seer to foretell what will happen to crypto in the years to come?

Nonetheless, there’s good news and bad news. The bad news is that nobody can tell what will happen in the future. The good news is that together at Bitcoin.com.au, we can explore the possibilities that lie ahead in the crypto-verse. Let’s get to it.

Mainstream Adoption

The growth of cryptocurrency adoption is so enormous that it is hard to keep stable statistics Every passing day, individuals, platforms, businesses, States, as well as countries adopt crypto exchange for their goods and services.

Major companies like PayPal accept cryptocurrencies as a form of payment, a bold financial decision. This is not surprising because cryptocurrency has made giant strides to reach its current position in the market today.

With increased awareness, we expect an exponential increment in its adoption as people become more familiar with digital currencies and their benefits. It won’t be long before they start using them for everyday transactions and investments.

In the background, investors are thinking up ways to better the use of digital currencies. This includes improved security and ease of use.

Financial Inclusion

Mainstream adoption will beget more financial inclusion. Individuals without access to traditional financial services will be allowed to participate in global markets when they adopt cryptocurrency.

We wouldn’t be surprised when the unbanked and underbanked populations become a part of the global economy.

Improvised Regulations

We may as well anticipate that governments and other regulatory bodies will establish clearer guidelines and regulations as cryptocurrency gains significant traction. This will be in a bid to develop trust among potential investors and encourage further growth.

It may not be an eldorado development in the crypto-verse as it will threaten the decentralization of cryptocurrency. Nonetheless, it is a step towards achieving the safety and stability of the industry. A review of regulations that cover transactions using digital currencies is unavoidable.

Evolution of Blockchain Technology

Blockchain technology will be applied beyond digital currencies. The concept of cryptocurrency is engineered by blockchain technology. Its efficacy may just earn it a spot in other industries.

Blockchain has the potential to revolutionize supply chain management, voting systems, healthcare systems, and more. You should expect innovative use cases that will transform other industries and streamline processes.

Central Bank Digital Currencies (CBDCs)

The introduction of central bank digital currencies is already a trend in recent years. These digital representations of fiat currencies are being adopted in a bid to combine the benefits of cryptocurrencies with the stability and trust associated with traditional currencies.

The crossbreed is on the rise, and we expect more central banks to adopt the trend. It may as well be the best decision for traditional banks in a few years to come.

The CBDCs and other collaboration projects will go further to bridge the gap between the digital and traditional worlds, leading to increased accessibility and acceptance.

Enhanced Security and Privacy

With relentless ongoing research, the security and privacy level that backs digital currencies will become even better. If you think the security level of cryptocurrency is high now, wait a few years. The backend of crypto transactions is secured with a cryptographic algorithm (codes comprised of alphanumeric combinations).

Already, we have witnessed privacy-focused cryptocurrencies like Monero and Zcash providing their users with the option to buy and sell anonymously.

Environmental Considerations

The environmental impact of cryptocurrency mining has always been an issue of concern in the society.

Whether in the near or far future, we may witness a significant shift towards more energy-efficient mining methods. An alternative and more eco-friendly solution to ensure the continual sustenance of digital currencies.

Where to?

What to do is to take the bull by its horns! Whether or not you’ve already invested in cryptocurrencies, it’s essential to research and stay informed. The industry is changing constantly, and it’s important to stay up to date.

If you’ve decided that it’s time to get involved, you may register on one of the many sites that trade/transact with cryptocurrencies. Furthermore, it’s also advisable to consult professionals who are experienced in the industry to point you in the right direction. From there on out, the journey is inarguably a bumpy but interesting one.

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Cryptocurrency

Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Cryptocurrency

Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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