Altcoins
Analyst Says Next Leg up Incoming for Altcoins, Updates Outlook on Solana and Two Other Crypto Assets
Published
1 month agoon
By
adminA popular crypto trader believes altcoins are on the verge of big rallies after a pullback in the digital assets market.
The pseudonymous analyst known as Altcoin Sherpa tells his 212,400 followers on the social media platform X that Render (RNDR), a project related to Graphics Processing Units (GPUs), seems to be consolidating in preparation for a breakout.
He says many altcoins are forming similar bullish price patterns with consolidation in a broader uptrend as shown in Render’s chart.
“RNDR: you know, a lot of good charts have this same type of price action. I think now is a great time to scale into many altcoins that you like and just sit on them. The next leg seems like it’s going to come in the next few weeks.”
Render is trading for $11.18 at time of writing, up nearly 2% in the last 24 hours.
Next up, the trader predicts that Ethereum (ETH) competitor Solana (SOL) could dip to the 0.382 Fibonacci retracement level before rallying.
“SOL: I think this remains a good area to buy and scale in. Would DCA (dollar cost average) from here to $140 personally.”
Solana is trading for $189.84 at time of writing, up more than 4% in the last 24 hours.
The trader is also bullish on RSS3 (RSS3), a decentralized information processing protocol.
“RSS3 is consolidating here in my opinion. I think the next leg is coming. In this one personally and have a node. Bullish.”
RSS3 is trading for $0.523 at time of writing, up over 8% in the last 24 hours.
Lastly, the trader says that the layer-1 blockchain project Vanar Chain (VANRY) seems to be in a consolidation phase and could break out within weeks.
“VANRY: fibbed the entire move and it’s consolidating right at the .382 fib. I would like to see this continue chopping around here another few weeks to be honest; the longer the break, the stronger the next move. I’ve got a bag.”
Vanar Chain is trading for $0.28 at time of writing, up more than 4% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Ethereum-Based Altcoin Leads Real-World Assets Sector in Development Activity, According to Santiment
Published
1 hour agoon
May 9, 2024By
adminBlockchain analytics platform Santiment says one Ethereum (ETH)-based altcoin project is leading in the real-world asset (RWA) sector based on development activity.
Santiment says that blockchain oracle Chainlink (LINK) is seeing the greatest amount of daily activity on the development hosting platform GitHub.
LINK Is seeing more than two times the amount of development activity compared to the second most active blockchain project, Synthetix (SNX), a decentralized finance (DeFi) crypto that allows synthetic asset creation on Ethereum.
“Here are crypto’s top real-world assets by development. This list is compiled by counting any non-redundant GitHub activity, and averaging this daily activity over the past 30 days. Chainlink currently produces 2.49x more daily activity than the next most active project, Synthetix, in the RWA sector.”
Santiment’s ranking list is as follows: 1. Chainlink 2. Synthetix.io 3. Centrifuge (CFG) 4. Dusk (DUSK) 5. Oraichain (ORAI) 6. Creditcoin (CTC) 7. IX Swap (IXS) 8. Maker (MKR) 9. Polymesh Network (POLYX) 10. Reserve Rights (RSR).
Santiment also says that the native asset of decentralized oracle protocol Tellor (TRB) is outperforming most other digital assets so far this month.
“Tellor is one of the top performing assets thus far in May, exactly doubling in market cap since the calendar month turned. Whale transactions and address activity have both seen sudden spikes, which are suggesting potential TRB profit takes.”
Tellor is trading for $111.64 at time of writing, up 16% in the last 24 hours.
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Altcoins
Hackers With $182,000,000 Stolen From Poloniex Starts Moving Funds to Tornado Cash
Published
9 hours agoon
May 8, 2024By
adminThe hacker who looted the crypto exchange Poloniex has started moving Ethereum (ETH) to the mixing service Tornado Cash, according to the digital asset de-anonymizing platform Arkham.
Arkham notes the hacker moved 1126.1 ETH worth more than $3.4 million into Tornado Cash across a series of 20 transactions on Monday and Tuesday.
They represent the exploiter’s first moves into the controversial Ethereum-based crypto mixer, which helps users conceal their digital assets.
The hacker raided Poloniex in early November, stealing $56 million worth of ETH, $48 million worth of Tron (TRX) and $18 million worth of Bitcoin (BTC), as well as smaller amounts of other crypto assets.
The exchange, which is owned by Tron founder Justin Sun, offered a 5% white hat bounty that went unaccepted. and the hacker still holds $181.47 million worth of crypto in their primary address, according to Arkham.
Justin Sun-affiliated projects have endured a prolific string of attacks in the past several months: In September, hackers exploited the Sun-linked exchange giant HTX for approximately 4,999 Ethereum worth $7.9 million, according to the blockchain security firm PeckShield.
Then in November, hackers hit HTX and Heco Bridge, another Sun-linked project that’s used to move funds between Ethereum and energy-saving blockchain Heco Chain, for a combined $100 million, according to cybersecurity firm Cyvers.
And in January, hackers once again struck HTX, hitting the exchange with a distributed denial of service (DDoS) attack that caused a brief outage.
A DDoS attack is a malicious attempt by bad actors to flood the target website with traffic to overwhelm the site’s infrastructure.
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Altcoins
‘Last Dip Ever’ – Analyst Predicts Solana Rally, Says Three Memecoins Will Surge Alongside SOL
Published
1 day agoon
May 8, 2024By
adminA closely followed crypto trader believes that Solana (SOL) just witnessed its last major correction for this market cycle.
Pseudonymous analyst Inmortal tells his 213,300 followers on the social media platform X that SOL bulls successfully defended support at around $120.
The trader shares a chart suggesting that the blue-chip altcoin is now poised to rally to a fresh 2024 high at $320.
“Last dip ever.
SOL.”
At time of writing, SOL is worth $153.45, suggesting an upside potential of nearly 110% if the altcoin hits the analyst’s target.
Inmortal also predicts that a trio of memecoins will rally alongside Solana. The trader is taking a close watch on Floki (FLOKI), which he says looks bullish after retesting the 200 moving average (MA) on the eight-hour chart and reclaiming support at $0.00015.
Inmortal believes that FLOKI will dip to around $0.00017 before surging to $0.00025 later this month.
“IF SOL goes up, THEN FLOKI, DOGE, PEPE go up too.
Especially interested in FLOKI
> Deviation + Retest + 200 MA
> A bit lagged.”
At time of writing, FLOKI is trading at $0.000179.
Another coin on the trader’s radar is Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming. According to the analyst, SFUND is currently in the process of cementing the $2.60 level as support.
“Retesting a 578 days accumulation, for the second time.
Definitely, you don’t see this every day.
SFUND.”
Looking at the trader’s chart, he seems to predict that SFUND will rally to $6 in the coming months. At time of writing, SFUND is trading at $2.65.
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