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Dogecoin Rises Even As Bitcoin, Ethereum Tumble: Analyst Predicts Start Of Full-Blown Alt Season

Published

2 months ago

April 18, 2023

Major coins traded in the mixed on Monday evening as the uncertainty surrounding the regulatory landscape continued to grip the cryptocurrency market. CryptocurrencyGains (+/-)Price (Recorded 9:30 p.m. EST)Bitcoin BTC/USD-1.97%$29,397Ethereum ETH/USD-0.97%$2,074Dogecoin DOGE/USD+1.10%$0.090What Happened: Bitcoin is still up 80% from where it stood at the beginning of 2023. This surge follows a tumultuous year, which saw numerous prominent companies go bankrupt, causing risk-averse investors to turn away from cryptocurrency markets. Dogecoin rose by 1%, holding its ground in green amid the red zone of several other cryptocurrencies. The Dogecoin community is buzzing with excitement as the highly anticipated SpaceX “Starship” prepares for its grand launch.At the time of writing, the global crypto market capitalization stood at $1.25 trillion, down over 1.51% over the last day. U.S. stocks saw a positive start to the week as traders scrutinized the newest set of corporate earnings reports, seeking vital insights on the overall state of corporate America. The S&P 500 registered a rise of 0.33%, accompanied by a 0.28% increase in the Nasdaq Composite.See More: Best Crypto Day Trading StrategiesNews Highlights: Bittrex, the Seattle-based cryptocurrency exchange, has responded to a lawsuit filed by the Securities and Exchange Commission, or SEC, that accuses the exchange of operating as an unregistered securities exchange, broker and clearing agency. Analyst Notes: Edward Moya, senior market analyst at OANDA, said, “Cryptos are losing some appeal as banking turmoil risks appear to be disappearing. Fed lending to banks continues to ease and earnings has not revealed any major strains with the early banks that have reported. Also dampening the appeal for crypto is the surge behind Treasury yields, which is dampening the appeal for most risky assets. It looks like ‘one and done’ calls for the Fed were a bit too optimistic and the risks of the Fed over tightening will remain on the table”. Moya added, “Bitcoin looks like it might be consolidating here, possibly settling on a new range between the $26,500 and $31,000 region.”According to crypto analyst Michael Van de Poppe, Ethereum’s recent Shanghai upgrade that enables stakers to withdraw their coins may indicate the commencement of a new alt season.”If we’re looking at the Bitcoin dominance, we can arguably say that we have been reaching the crucial level at 50 (percent)…I was thinking maybe we can go a little bit higher but then I realized that Shanghai upgrade took place, which I didn’t include in the previous update. I think that we’re on the edge of having a correction on the Bitcoin dominance. I think that we’re peaking here, and that is going to result into a fall in the coming period. As the last time during the Ethereum merge, it was bottom. Now, it’s probably the peak.” Read Next: Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users

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CryptoPunk #7026 Sold For 99 ETH

Published

2 months ago

April 18, 2023

CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever. What happened: CryptoPunk #7026 just sold for 99.00 ETH ETH/USD ($206,315 USD). The value of CryptoPunks is typically determined by Punk’s attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. Other species of Punks (Zombies, Apes and Aliens) are incredibly rare and also sell for a premium.Here are a list of its attributes and how many other Punks have the same trait:
Accessory: Earring (2,459)
Accessory: Mustache (288)
Type: Male (6,039)
Accessory: Cowboy Hat (142)
Accessory: 3 Attributes (4,122)
Why it Matters: Cryptopunks are the ultimate rookie card for NFT collectors. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.Price Action: Ethereum is currently trading at $2,084.11, down 1.6% over the past 24 hours.See Also: NFT Release Calendar and Best NFT Projects of 2021Data provided by OpenSea.Checkout the full cryptopunk collectionYou can learn more about this NFT here.This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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Cardano Down More Than 3% Within 24 hours

Published

2 months ago

April 18, 2023

Cardano’s ADA/USD price has decreased 3.15% over the past 24 hours to $0.44. This is contrary to the coins performance over the past week where it has experienced an up-trend of 11.0%, moving from $0.39 to its current price.The chart below compares the price movement and volatility for Cardano over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.The trading volume for the coin has climbed 104.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.04%. This brings the circulating supply to 35.05 billion, which makes up an estimated 77.88% of its max supply of 45.00 billion. According to our data, the current market cap ranking for ADA is #7 at $15.33 billion.Powered by CoinGecko APIThis article was generated by Benzinga’s automated content engine and reviewed by an editor.© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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CryptoPunk NFT Sold For 53 ETH

Published

2 months ago

April 18, 2023

CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever. What happened: CryptoPunk #9174 just sold for 53.10 ETH ETH/USD ($110,659 USD). The value of CryptoPunks is typically determined by Punk’s attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. Other species of Punks (Zombies, Apes and Aliens) are incredibly rare and also sell for a premium.Here are a list of its attributes and how many other Punks have the same trait:
Accessory: 2 Attributes (3,279)
Accessory: Stringy Hair (463)
Type: Male (6,039)
Accessory: Front Beard Dark (260)
Why it Matters: Cryptopunks are the ultimate rookie card for NFT collectors. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.Price Action: Ethereum is currently trading at $2,084.11, down 1.6% over the past 24 hours.See Also: NFT Release Calendar and Best NFT Projects of 2021Data provided by OpenSea.Checkout the full cryptopunk collectionYou can learn more about this NFT here.This article was generated by Benzinga’s automated content engine and reviewed by an editor.