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Ethereum Witnesses Its Largest Network Growth

TokenTalk Staff

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Ethereum Witnesses Its Largest Network Growth

SPONSORED ARTICLE*

Ethereum (ETH) is experiencing extraordinary network growth, representing a historic development. Simultaneously, altcoins such as THORChain (RUNE) or KangaMoon (KANG) are gaining ground within the crypto industry. Many analysts claim that KANG, currently in stage 5 of its presale, is the next $1 altcoin in 2024.

Ethereum (ETH): exceptional network growth

Ethereum (ETH) has been making headlines in the crypto market recently. According to crypto analyst Ali Martinez, this altcoin has seen its strongest network growth over the past 12 months. Notably, Glassnode shows that around 139,560 new ETH addresses were created on April 29.

Ethereum’s price action has seen a 62% jump in the past year alone, with a market capitalization of $356 billion. Additionally, the Ethereum crypto is now trading above its 100-day and 200-day EMAs, while nine technical indicators are flashing green. For this reason, experts predict that Ethereum will reach $3,775 before the end of the second quarter of 2024.

THORChain (RUNE): over $10 billion in trading volume

Meanwhile, THORChain (RUNE) has also made some waves in this space. For example, THORChain announced that March 2024 was the first month with a trading volume above $10 billion. This step is important because it shows the level of attention this altcoin is receiving.

THORChain price has surged 280% on the chart since the start of the year and its market cap has reached $1.65 billion. Additionally, THORChain coin is trading above its 100 and 200 day EMAs. As its RSI stands at 60, experts remain optimistic. They predict that RUNE will reach a value of $6 during the second quarter of 2024, making it one of the altcoins to watch.

KangaMoon (KANG): an upcoming member of the Top 10 Altcoins

KangaMoon (KANG) is quickly gaining popularity as an altcoin. Many traders are attracted to it thanks to its excellent presale performance. For example, KangaMoon has secured over $6 million, and is expected to reach $7 million before the end of May 2024. Additionally, 20,000 registered community members and 6,000 holders of this altcoin.

The Play-to-Earn (P2E) gaming industry is expected to reach $885 million in 2028, which represents a good opportunity for KangaMoon. For this reason, it will create a P2E game in which players will use the KANG token as in-game currency. In other words, players can use this altcoin to purchase in-game items, access challenges to obtain tokens additional, and much more.

KangaMoon also focuses on its community. For example, KangaMoon is now offering free KANG to its most active community members before the presale ends. So, traders are rushing to like and share KangaMoon’s posts on social media to earn this altcoin for free.

KANG is now at stage 5 of its presale and is worth just $0.0196 – a 290% pump from its starting price of $0.005. However, experts are optimistic about KANG as it is still in its early stages. They predict a pump to $1 once a Tier 1 CEX lists KANG in the second quarter of 2024. With this price prediction, KANG emerges as one of the best altcoins to buy.

Will KangaMoon provide faster returns than Ethereum and THORChain?

With a low market cap of $19.6 million, KangaMoon could generate faster returns than Ethereum or THORChain. Indeed, it requires fewer new flows of money to increase prices. As a result, KangaMoon could become one of the top 10 altcoins in 2024. To learn more, follow the links below and get a 10% bonus on every purchase.

Discover the exciting opportunities of the KangaMoon (KANG) presale today!

Website: https://Kangamoon.com/

Join our Telegram community: https://t.me/Kangamoonofficial

*This item has been paid for. Cryptonomist did not write the article or test the platform.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

Shiba Inu Eyes Recovery, Analyst Eyes Rise to $0.0001

TokenTalk Staff

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Shiba Inu Eyes Recovery, Analyst Eyes Rise to $0.0001

Shiba Inu (SHIB) is currently eyeing a recovery surge as it slides into the oversold region, with one market analyst predicting an imminent rise to $0.0001.

The recent market bloodbath claimed many lives, and Shiba Inu was one of them. In particular, the Crypto Basic confirmed that the turmoil, which analyst Mike Deutscher attributed to “altcoin dispersion,” led to a loss of $137 billion in the combined market capitalization of the top 125 altcoins in two weeks.

Specifically, Shiba Inu lost $4.21 billion in valuation during this period, as its market cap fell to $10 billion. This is due to a fall from a high of $0.00002633 on June 5 to the current value of $0.00001820, representing a massive collapse of 31% in just two weeks.

Shiba Inu now extremely oversold

Although this decline has left many investors in a losing position, some technical indicators have slipped into bullish regions. For example, the Shiba Inu Relative Strength Index (RSI) has since fallen to an all-time low of 15, according to the market. data from CryptoQuant.

Shiba Inu RSI oversold CryptoQuantShiba Inu RSI oversold | CryptoQuant

This extremely low value indicates that SHIB is significantly oversold. This low RSI value suggests that selling pressure is very high and Shiba Inu may be undervalued. The current position of the RSI is generally interpreted as a potential buying opportunity, with market analysts expecting a price reversal or rebound soon.

With Shiba Inu Eyeing a recovery from recent lows, market participants are increasing their holdings in anticipation. Santiment data shows that small investors holding between 100,000 and 1 million tokens purchased 2 billion SHIB this month, while large whales holding at least 1 trillion SHIB accumulated nearly 500 billion tokens .

Shiba Inu addresses Santiment 4Shiba Inu addresses Santiment 4Shiba Inu Addresses | Feeling

An imminent recovery

Interestingly, market analyst Sam_TCR predicted this rally in a previous TradingView. analysis. The analysis was carried out when Shiba Inu had not fallen to this level, trading at $0.000022. With SHIB now below the $0.00002 level, the analyst’s projection of a resistance point at $0.00002320 remains valid.

According to him, if Shiba Inu manages to cross the $0.00002320 level, its next resistance will be at $0.00002550. He predicted that a push above the $0.00002550 roadblock would pave the way for an imminent rally towards the coveted $0.0001 price. Michael, another analyst, also waits a rally to the $0.0001 level.

Meanwhile, at its current price of $0.00001820, SHIB faces more formidable resistance on the way to $0.0001. The token must first break through the psychological $0.00002 level before using it as a launchpad for significant upside.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn

TokenTalk Staff

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Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn

BitMEX Co-Founder Arthur Hayes Increases His Bullish Sentiment on Dogecoin (DOGE) and Pendle (PENDLE) despite the sudden slowdown in crypto.

Hayes tell its 524,900 followers on social media platform

“I love this choppy downward trend in shitcoin prices. I add PENDLE and DOGE to my bags.

DOGE is trading at $0.12 at the time of writing, up more than 2% in the last 24 hours. Meanwhile, PENDLE is trading at $5.65 at the time of writing, up almost 13% on the day.

Hayes, who is also an advisor to the Pendle project, was recently spotted will lock $8.4 million worth of PENDLE tokens until September 5 this year.

PENDLE, the platform’s native token, can be used to earn rewards by those who provide liquidity to the protocol. The PENDLE token lock can last up to two years and allows users to vote on governance proposals while earning 3% of all yield accrued by its Yield Bearing Tokens (YT).

Another project that Hayes said he is optimistic about is Ethereum (ETH) competitor Aptos (APT). Hayes predicted that the Aptos layer 1 (L1) smart contract blockchain will surpass Solana (GROUND) this market cycle in one to three years.

Aptos is trading at $6.81 at the time of writing, up more than 2% in the last 24 hours.

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Altcoins

The ALTcoin market has an incomplete impulse cycle

TokenTalk Staff

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The ALTcoin market has an incomplete impulse cycle

https://news.google.com/./articles/CBMiXWh0dHBzOi8vd3d3LmJhcmNoYXJ0LmNvbS9zdG9yeS9uZXdzLzI2OTM3NDcyL2FsdGNvaW4tbWFya2V0LWhhcy1hbi1pbmNvbXBsZXRlLWltcHVsc2l2ZS1je WNsZdIBAA?hl=en-US&gl=US&ceid=US%3Aen

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Is the crypto market ready to explode?

TokenTalk Staff

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Is the crypto market ready to explode?

The price of Bitcoin seems to have found its footing and is starting to rise again after a recent decline. Crypto trading expert Michael van de Poppe is among those supporting the argument that Bitcoin has reached its lowest point and is now on an upward trajectory. This change also has a positive impact on other cryptocurrencies.

Here’s an overview of current trends in the cryptocurrency market!

Recent Bitcoin Performance

Nowadays, Bitcoin is trading at $66,155. Recently, its price has been fluctuating between $63,000 and $65,000, indicating that it may have reached its lowest level. According to Michael van de Poppe, this range likely marked the lowest point for Bitcoin, which is now expected to rise further.

Bitcoin Market Indicators

The 1-day candlestick chart for Bitcoin/USD now shows a large green candle, signaling bullish momentum for Bitcoin. This is a positive sign that the price of Bitcoin is starting to rise from its recent low.

Impact on Altcoins

As the price of Bitcoin increases, other cryptocurrencies also see their performance improve. On June 6, 2024, the altcoin market capitalization peaked at $1.39 trillion. Today, June 20, 2024, it stands at $1.21 trillion, which is an improvement from yesterday’s $1.18 trillion. This suggests a recovery in the altcoin market alongside the resurgence of Bitcoin.

Bitcoin Dominance and Recent Movements

The dominance of Bitcoin The value is currently at 51.8%, close to its 6-month high of 52.47% reached on June 18, 2024. Earlier this month, on June 5, the price of Bitcoin was above $71,000. Since then, it has continued to decline, with a current opening price of around $64,915. Over the past 30 days, the price of Bitcoin has fallen by 6.9%. Over the last 7 days it has changed by -2.5%, but over the last 24 hours it has increased by 1.4%.

In conclusion, the fall in the price of Bitcoin seems to have stopped and it is now starting to rise again. This upward trend is also benefiting other cryptocurrencies, suggesting a positive change in overall market sentiment. The recovery in altcoin market capitalization further underlines this optimistic outlook.

Bitcoin’s rebound could signal a further surge in the crypto market, pointing to a more optimistic future for cryptocurrency traders and investors.

Read also: MicroStrategy Completes $800 Million Convertible Note Offering, Acquires 11.9K Bitcoin for $786 Million

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