Lưu trữ cho từ khóa: Solana

Phân tích

Jupiter price pulls back amid encouraging DEX volume metrics

Để lại phản hồi

Jupiter token retreated for two consecutive days even as the volume of transactions in Solana’s ecosystem jumped.

Jupiter (JUP) retreated to $0.08 on Sept. 23, down from last week’s high of $0.89, giving it a market cap of over $1.098 billion.

Data from DeFi Llama shows that Solana’s (SOL) decentralized exchange transactions rose by 18% in the last seven days, bringing the total to over $5.27 billion. It flipped Ethereum, whose transaction volume fell by 29% to $5.1 billion.

Jupiter’s transactions have been robust, with data from Solscan showing that it handled tokens worth $587 million on Sept. 23, giving it a market share of 37%. It has over 10,400 active wallets.

The other top Solana DEX networks like Raydium, Orca, and Meteora also saw higher volumes as meme coins like Popcat (POP) and Dogwifhat (WIF) rebounded.

Recently, however, there are signs that Jupiter’s volume momentum is falling. After peaking at $1.14 billion on Sept. 19, it has dropped to $580 million.

Jupiter exchange volume | Source: Solscan

Meanwhile, Jupiter’s total assets have risen by over 5% in the last 30 days to over $1.17 billion, making it the third-largest player in the ecosystem.

Jupiter’s token pulled back a week after the developers acquired SolanaFM, a leading blockchain explorer. This acquisition is expected to help Jupiter grow its ecosystem of infrastructure networks.

A key challenge for Jupiter’s token is its concentrated ownership structure. According to SolanaFM, the top ten addresses in the network hold almost 92% of all tokens in circulation. A highly concentrated token is typically at risk if these holders decide to liquidate their positions.

Jupiter found a strong support

Jupiter token chart | Source: TradingView

On the daily chart, the Jupiter token found strong support at $0.6577, a level it struggled to cross in July, August, and September. This indicates it has formed a triple-bottom pattern with a neckline at $1.2200.

Jupiter has also remained above the 78.6% Fibonacci Retracement level and is hovering above the 50-day and 25-day moving averages.

Therefore, Jupiter is likely to resume its uptrend as long as it remains above the two moving averages and last week’s high of $0.8932.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Weekly NFT sales plunge to $73.7m, Solana network sales surge

Để lại phản hồi

The non-fungible token market has experienced a 4.2% drop in sales volume in the last seven days.

This drop comes after a decent surge of 7.68% as reported in our last weekly NFT sales column. The latest data from Cryptoslam shows that NFT sales volume in the last seven days stood at $73.75 million.

The numbers are down by 4.2% considering the $109 million sales volume in the week prior.

Even though the NFT sales volume came down to the double digits, there has been a 132% surge in NFT buyers. Cryptoslam data shows that NFT buyers stood at 521,640 while NFT sellers were 270,413.

Interestingly, NFT transactions dropped over 26% in the last seven days to 1,217,967. Let us have a detailed look at the blockchains that ruled during this period.

Ethereum and Solana top the list

Source: Blockchains by NFT Sales Volume (CryptoSlam)

As per the data, Ethereum (ETH) has maintained the first ranking with $23.9 million in NFT sales. However, the network saw over 9.6% drop in the sales as opposed to the prior week. Interestingly, 12.24% of the sales came from wash trading.

Solana (SOL) took over the second position with $16 million in sales. Bitcoin (BTC), Polygon (POL) and Binance Coin (BNB) took the next three spots with $13 million, $7.5 million and $3.3 million in sales, respectively.

Wash trading was recorded the least for the BNB network, while Solana and Bitcoin recorded 6.41% and 4.54%, respectively.

Cryptoslam data highlights that NFT sales volume surged on the Solana network by 17.89% as well as on Polygon at 51.3%.

Guild of Guardians Heroes stands as the top collection

Guild of Guardians on the Immutable-Zk chain took home the first ranking for the highest sales volume. The NFT collection recorded $2.86 million in sales volume across 5786 transactions.

Trailing just behind, the DogeZuki Collection on Solana bagged second place with $2.4 million in sales with 61,447 transactions. DogeZuki has held its position strong just like the previous week.

NFT Collection Rankings by Sales Volume (CryptoSlam)

Third on the list with $2.368 million in sales is Sorare on the Ethereum blockchain. The NFT collection enjoyed a total of 108,690 transactions.

CryptoPunks, on the other hand, recorded 25 transactions with a sales volume of $2.2 million, ranking fourth. DMarket on Mythos blockchain is fifth on the list with $2.1 million in sales and 80,713 transactions.

Top NFT collectible sales

These are some of the top NFT collectible sales that happened despite the volatile crypto market conditions.

  • CryptoPunks #1219 sold for $308,316.94 (130 ETH).
  • Autoglyphs #337 sold for $223,153.25 (87.6692 WETH).
  • Autoglyphs #337 sold for $171,000.00 (171000 USDC).
  • Known Origin #22001 sold for $140,695.52 (55 WETH).
  • Autoglyphs #281 sold for $129,684.88 (51 WETH).

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

SOL, LINK, TAO: Top cryptocurrencies to watch this week

Để lại phản hồi

The global crypto market built on the recovery push from two weeks back, recouping an additional $100 billion to close the week at $2.2 trillion. 

Bitcoin (BTC) led the charge, as it briefly reclaimed the $64,000 territory. The bullish momentum led to substantial gains for most altcoins.

Here are some of the most noteworthy performers from last week:

Solana breaches 20-day SMA

Solana (SOL) experienced a sharp 4.21% decline at the start of the week. However, following a period of consolidation, it rebounded strongly, spiking 13.01% from Sept. 18 to 21.

SOL 1D chart – Sept. 22 | Source: crypto.news

This was largely due to the crypto market’s positive reaction to the Federal Reserve’s 50 basis point rate cut, coinciding with the unveiling of Solana’s new phone — Solana Seeker.

Solana ended the week with an 8.76% gain at $149.41.

The asset broke above the 20-day simple moving average, or SMA, on Sept. 19. It has remained above it since. However, volume has declined since a 4.493 million SOL peak on Sept. 20. This indicates that the rally may be losing steam.

If the volume remains low, it could suggest weakening buying interest, which might lead to a reversal. Key areas to watch this week are the support around $135 (the 20-day SMA) and resistance near $150.

Solana was created by Anatoly Yakovenko, a former Qualcomm engineer. He founded Solana Labs in 2017, along with co-founder and fellow Qualcomm colleague Greg Fitzgerald.

Raj Gokal and a team of developers also helped launch Solana’s blockchain in March 2020.

Chainlink targets $12

Chainlink (LINK) started the week by dipping with the broader market, but quickly recovered to hit a monthly high of $11.74 on Sept. 20. 

LINK 1D chart – Sept. 22 | Source: crypto.news

LINK saw a slight pullback from this week, but managed to close with a modest 1.76% gain. The token was one of the underperformers of the week despite a partnership with Fireblocks for stablecoin issuance.

Currently, LINK trades above the middle Bollinger Band ($10.70) and is close to retesting the upper band ($11.74). A breach of the resistance at the upper band could grant the bulls enough strength to reclaim $12. 

This week, traders should watch for a breakout above $11.74, which could signal a further upward move. However, a drop below the middle band at $10.70 would bring the support at the lower band ($9.65) into play.

Sergey Nazarov and Steve Ellis created Chainlink in 2017. The crypto was originally envisioned as a decentralized oracle network that connects smart contracts with real-world data.

Bittensor rallies 43%

Bittensor (TAO) emerged as one of the top gainers last week. The decentralized, open-source protocol surged by 43%.

The rally pushed TAO to retest $480 for the first time since May, although it faced resistance at this level. Despite a slight drop, TAO is trading at a four-month high.

TAO 1D chart – Sept. 22 | Source: crypto.news

In the Donchian Channels, TAO is above the basis line ($350.1) and lower line ($219.6) but just shy of breaking the upper line ($480.5) This suggests that while bullish momentum is strong, further gains may be limited unless TAO breaches $480.5.

Additionally, the Commodity Channel Index has surged to 212.28, its highest since January, indicating that TAO may be overbought. This could lead to a short-term pullback unless strong buying pressure continues.

Bittensor aims to create a marketplace for artificial intelligence (AI) and machine learning models. The platform, created by Shen-Juan Ting and Kei Kreutler, is designed to allow AI models to interact, share data and incentivize through TAO tokens.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Công nghệ

Crypto exchange Jupiter acquires blockchain explorer SolanaFM

Để lại phản hồi

Decentralized trading platform Jupiter is acquiring blockchain explorer SolanaFM to expand its capabilities, leveraging the exchange’s infrastructure.

Solana-based decentralized crypto exchange aggregator Jupiter has acquired Etherscan-backed blockchain explorer SolanaFM. In an X announcement on Sept. 20, the blockchain explorer said it will focus on “10x-ing the data and infrastructure capabilities on Jupiter,” adding that the platform will “continue to operate as usual.”

Launched in 2021, SolanaFM provides users with detailed insights into Solana’s network data, including transaction history, smart contracts, and token information. In 2022, the explorer secured $4.5 million in a seed funding round led by SBI Group’s Digital Asset Opportunity Fund. In December 2021, SolanaFM also managed to secure investments from a funding round led by Etherscan and Coinhako.

Alongside the acquisition, Jupiter announced Jupiter Mobile, a fee-free mobile app built in partnership with MoonPay. While the app’s launch date remains undisclosed, it will support major payment methods, including Apple Pay, Google Pay, and credit cards, furthering accessibility for users. Following the news, Jupiter’s (JUP) token gained 11%, soaring to $0.87.

The acquisition and product launch comes as Jupiter grapples with security threats. In August, the exchange warned users about a malicious Chrome extension named “Bull Checker” targeting Solana users. Jupiter identified this extension after extensive investigations into user complaints, highlighting ongoing risks in the ecosystem even as Jupiter seeks to expand its services and market presence.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Popcat records 22% spike, can bulls target the $1 mark?

Để lại phản hồi

Popcat, a meme coin on the Solana blockchain, recorded an impressive run, making it the top gainer among the top 100 crypto assets over the past day. 

The recent 50-basis-point rate cut by the U.S. Federal Reserve has triggered bullish sentiment across the crypto market, which Popcat (POPCAT) has leveraged, recording a 22% rise in price in the past 24 hours. 

Popcat is trading at $0.8738 at the time of writing, extending its gains with a 39.03% surge in the last seven days. Its market cap now stands at $856.4 million, with a $135 million daily-hour volume signaling surging investor interest.

POPCAT 1D chart – Sept. 19 | Source: crypto.news

A pattern contributing to the surge was the rounded bottom formation on the daily chart, which often indicates a potential bullish reversal. Most of the rally occurred in the last trading session, with Popcat gaining nearly 19% yesterday, its largest intraday gain in a month.

The Fibonacci pivot points suggest resistance at various levels, starting at $0.88 and moving higher to the all-time high at $1.09. As the bulls look to again surpass the $1 price level, the $0.88 resistance threshold presents a formidable roadblock.

On the downside, immediate support lies at $0.75, with lower supports at $0.54 and $0.32. The price recently pushed above the critical $0.46 level, which was highlighted by analysts as a key indicator for a bullish breakout. 

According to an X post by the pseudonymous analyst Impulsive Dom, this breach signals a solid upward momentum, with the possibility of Popcat targeting the $2 to $3 range on a third Elliott Wave push, provided the momentum continues.

Additionally, the Williams %R indicator, which currently stands at -2.93, points to an overbought condition. Readings closer to zero indicate that the asset might be nearing a short-term top, and the market could face selling pressure soon. A pullback from this level is possible, given the recent sharp rise.

Looking ahead, if Popcat maintains its momentum, the $1 target could come into play. However, caution is advised, as failure to hold above $0.75 could lead to a retest of lower support levels near $0.54 and $0.32.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Crypto investment products see $436m inflows as rate cut speculation grows

Để lại phản hồi

Data from CoinShares shows a reversal in crypto investment trends, with $436 million in inflows following weeks of outflows.

Cryptocurrency investment products experienced their first reversal in weeks, with inflows reaching $436 million after a period of $1.2 billion in outflows.

The surge in inflows, observed towards the end of the week, is attributed to shifting market expectations of a potential 50 basis point interest rate cut on Sept. 18, CoinShares CoinShares head of research James Butterfill noted, adding that the sentiment prompted by comments from former NY Fed President Bill Dudley.

Despite the wave of inflows, trading volumes in exchange-traded funds remained flat at $8 billion for the week, significantly below the year-to-date average of $14.2 billion. Regionally, the U.S. led with $416 million in inflows, while Switzerland and Germany contributed $27 million and $10.6 million, respectively.

Weekly crypto asset flows | Source: CoinShares

As always, Bitcoin (BTC) was the primary beneficiary, reversing a 10-day streak of outflows totaling $1.18 billion with $436 million in new inflows. In contrast, short-Bitcoin products experienced $8.5 million in outflows after three consecutive weeks of inflows.

Meanwhile, Ethereum (ETH) faced continued challenges, recording $19 million in outflows, driven by “concerns over layer-1 profitability following Dencun.” Solana (SOL) marked its fourth consecutive week of inflows, totaling $3.8 million. Blockchain equities also saw a boost, with $105 million in inflows attributed to the launch of several new ETFs in the U.S., the data shows.

The inflows come just weeks after Bitcoin saw a sharp decline in exchange activity, with daily inflows dropping 68% from 68,470 BTC to 21,742 BTC, and outflows falling 65% from 65,847 BTC to 22,802 BTC in early September.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Popcat déjà vu: analyst models 5,000% surge to $40

Để lại phản hồi

Popcat, the popular Solana meme coin, continued rising this week as the mood among traders improved and as its futures open interest jumped. 

Popcat (POPCAT) rose by over 13% on Sept. 12, reaching an intraday high of $0.6812, its highest level since Aug. 29. It has surged by over 152% from its last month’s low.

The token rebounded as data from the futures market showed that open interest was in a strong uptrend. It jumped to a high of $63 million, its highest level since July 27, and much higher than last month’s low of $17 million.

Its volume on exchanges is also rising. Data shows that the volume stood at over $139 million, its highest level since Aug. 24. This indicates strong demand for the coin.

A good example of this is a whale who swapped Dogwifhat (WIF) worth $800,00 to Popcat. He then swapped his Solana (SOL) for the token. Another trader initiated a dollar-cost averaging trade worth $4 million.

Meanwhile, Cryptonary, a crypto analysis firm, maintained its bullish view on Popcat and upgraded its price target to $40. With the coin trading at $0.6812, it means that it needs to rise by almost 5,800% from the current levels.

Historically, some meme coins have had similar parabolic moves in the past. Dogwifhat jumped by over 5,000% between its lowest and highest points this year. Popcat also surged by over 1,000% between its lowest point in April and its all-time high in July.

One of the popular bullish cases for Popcat is that its ownership is spread widely. According to CoinCarp, it has over 49,000 holders, with the top ten biggest holders accounting for just 15%, and the top 50 accounting for 22% of all tokens in circulation.

In contrast, Brett’s (BRETT) top ten wallets hold 71% of all tokens. Pepe’s (PEPE) top ten accounts hold 45% of all tokens. Therefore, manipulating Popcat by whales is harder than the highly concentrated Brett and Pepe.

Popcat has formed a risky pattern

Popcat price chart | Source: TradingView

Technically, there is a risk that Popcat could pull back in the near term before resuming its uptrend. On the 4-hour chart, it is forming a head and shoulders pattern, one of the most popular bearish signals. It is about to complete the right shoulder, meaning that it may experience a deep reversal in the near term.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Crypto scammers target Indian Premier League team to promote Solana token

Để lại phản hồi

Hackers hijacked the Delhi Capitals’ X account, using the popular cricket franchise’s social media presence to push a scam Solana-based token.

Delhi Capitals, a cricket franchise team that competes in the popular Indian Premier League, fell victim to an X breach with hackers taking control of the account to advertise a Solana-based token with the ticker HACKER to the team’s over 2.6 million followers.

In the now-deleted posts, the bad actors took responsibility for the attack while announcing their intentions to “make profits” by targeting other X accounts in a bid to inflate the price of the HACKER token that was created a little over a day ago according to DEX screener data.

“We hack accounts on each account the token address will be posted and the token will pump,” the attackers wrote.

The attacker’s strategy is common in these sorts of attacks, where fraudsters exploit the large follower base of high-profile X accounts to promote crypto tokens. They artificially pump the token’s price and then sell off their pre-acquired holdings shortly after, leaving unsuspecting investors that rush in for a quick profit at a loss.

The culprits continued to make a series of similar posts, publicizing the scam token’s contract address, adding “search $HACKER to see our strength.” Shortly after, the Delhi Capitals management regained control of their account.

Meanwhile, searching X for the term “$HACKER” led to posts from another hacked account, sharing screenshots of similar attacks on the South Korean esports team T1 and other X accounts, all featuring the same message but with a different contract address.

However, the attacker’s efforts appeared to fall flat, with the HACKER token attracting little attention. At the time of writing, the scam token had a market cap of just $4,300 and only 46 transactions, most of which seemed to have been executed by the creators themselves shortly after the token’s launch.

Hackers keep finding ways around X’s security measures

Nevertheless, these attacks appear to be part of a growing trend where scammers target high-profile X accounts to promote deceitful crypto tokens—raising concerns about the platform’s security. The social media giant has yet to address this issue.

On Sep. 4, the X accounts of Lara and Tiffany Trump were hijacked simultaneously to mislead the public into buying a fake token themed around former president Donald Trump’s new decentralized finance project World Liberty Financial.

Just days earlier, French soccer star Kylian Mbappé fell victim to a similar breach and the attackers executed a pump-and-dump scheme using the MBAPPE token.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Crypto products see second-biggest weekly outflows in 2024: CoinShares

Để lại phản hồi

Data collected by crypto ETP provider CoinShares indicates that the crypto market witnessed the largest weekly outflows since March amid falling prices.

Crypto investment products faced outflows exceeding $725 million last week, matching the largest recorded outflow since March.

In a Sept. 9 research report, CoinShares head of research James Butterfill attributed this dynamic to stronger-than-expected macroeconomic data from the previous week, which increased speculation about a potential 25 basis point interest rate cut by the U.S. Federal Reserve.

“The markets are now awaiting Tuesday’s Consumer Price Index inflation report, with a 50bp cut more likely if inflation comes in below expectations.”

James Butterfill, CoinShares head of research

The data shows that outflows were mainly concentrated in the U.S., which saw a net withdrawal of $721 million, while Canada-based products witnessed outflows of $28 million. In contrast, European markets showed more positive sentiment, with Germany and Switzerland recording inflows of $16.3 million and $3.2 million, respectively.

Bitcoin stuck in fear zone

Bitcoin (BTC) saw the largest outflows at $643 million, while short-bitcoin had small inflows of $3.9 million. Ethereum (ETH) lost $98 million, mainly from the Grayscale Trust, as exchange-traded fund inflows slowed. Solana (SOL) stood out with $6.2 million in inflows, the highest among digital assets.

Bitcoin also saw a sharp decline in exchange activity, with daily inflows dropping 68% from 68,470 BTC to 21,742 BTC, and outflows falling 65% from 65,847 BTC to 22,802 BTC. Data from Alternative shows that the Crypto Fear and Greed Index hit 26, its lowest point in over a month, signaling heightened investor anxiety and a more cautious market sentiment.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News