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Shiba Inu: Expert Confident LEASH, BONE Will List on Binance

Abdulkarim Abdulwahab
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Shiba Inu: Expert Confident LEASH, BONE Will List on Binance

Well-known Shiba Inu community figure Del Crxpto has voiced confidence that SHIB will not be the sole ecosystem token to trade on Binance, the largest crypto exchange.

Del Crxpto conveyed this sentiment in a recent post on X amid mounting calls for Binance to endorse other Shiba Inu ecosystem tokens.

Shiba Inu Ecosystem Tokens Not Trading on Binance

Significantly, the Shiba Inu ecosystem team has launched the tokens Doge Killer (LEASH) and BONE after SHIB, with intentions to expand the ecosystem with new assets such as TREAT and the SHI stablecoin. 

Presently, among the Shiba Inu-related tokens available on the market, SHIB is the only one that has achieved extensive support and listings on several leading centralized exchanges.

Meanwhile, community members have persistently called on major exchanges such as Binance and Coinbase to include BONE on their platforms, yet these appeals have not been successful so far. 

Efforts to List Other Tokens on Binance

Two months ago, Shiba Inu lead developer Shytoshi Kusama championed the push for BONE’s listing on Binance. Kusama mobilized the Shiba Inu Army to vote BONE on the Binance Futures Next platform. Notably, Binance Next Pool allows users to predict forthcoming listings with “Picks” purchased for 1 USDT each.

Some members initially encountered challenges in the voting process for BONE, causing them to deploy VPNs to participate. However, these efforts have not proved successful yet. The SHIB Army’s efforts follow the resolution of BONE’s contract issues, though Binance has not yet listed the token.

Nonetheless, community members like Del Crxpto remain optimistic that BONE and other ecosystem tokens will trade on Binance someday.

Significantly, the continuous push for BONE to be listed on Binance arises from the exchange’s status as a major hub with the largest base of traders. Tokens that secure a listing on Binance typically see a substantial surge in price shortly after, as this exposes them to a broader spectrum of investors and traders.

Hopeful Projection of Listing

Last month, CoinPedia Markets predicted that Binance may list BONE in 2024, highlighting four factors that could influence this decision. It includes BONE’s dual role in governance and as Shibarium’s gas token.

Moreover, it cited BONE’s utility in staking and liquidity, appealing to exchanges like Binance that value high liquidity assets. Other cited points include strong community support and the renunciation of BONE’s contract. Notably, these characteristics are already available for BONE. 

Centralized exchanges that have listed LEASH and BONE include OKX, Gate.io, Bitget, and CryptoCom.

Peter Brandt Goes Long on Ethereum, Predicts Breakout to $4,032

Mark Brennan
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Peter Brandt Goes Long on Ethereum, Predicts Breakout to $4,032

Legendary trader Peter Brandt opens a long position in Ethereum with a target of $4,032, leveraging a descending wedge pattern to predict a bullish breakout from $2,741.

Peter Brandt, a seasoned trader and classical chartist, recently shared his current trades on social media, highlighting a notable bullish signal for Ethereum. 

Brandt, known for his adherence to classical charting techniques from Schabacker’s 1934 methods, focuses on swing trading by identifying and trading breakout patterns. According to an X post, his trading approach has a 55% hit rate, implying his method’s reliability.

Brandt Targets $4,032 in Ethereum

Peter Brandt’s chart analysis indicates a classic descending wedge pattern for Ethereum, a bullish signal that typically suggests an upward breakout. According to the chart, the breakout has already been confirmed by a sharp increase in price past the upper trendline of the wedge.

Moreover, Brandt shows that his entry point for Ethereum was at $2,741, anticipating the upward momentum. He further anticipates a target of $4,032, suggesting significant profit potential and reflecting confidence in Ethereum’s continued rise.

In addition to his Ethereum trade, Peter Brandt has revealed three other strategic positions, further diversifying his portfolio. He has gone long on Soybean Meal futures (ZMN24), SPDR Gold Trust (GLD), and Silver futures (SIU24). Each of these trades is based on his classical charting techniques, aiming to profit from anticipated breakout movements.

Brandt’s Ethereum Criticisms

In contrast to his current bullish stance, Brandt predicted in December of last year that Ethereum could experience a severe downturn, potentially dropping below $700. At that time, Brandt noted that classical chart patterns in price charts are not infallible and often fail to perform as expected.

Had ETH fallen to $650 from its value of $2,156 at the time, it would have marked a near 70% decline for the leading smart contract platform. Moreover, last Friday, he warned of potential risks in the crypto staking sector following the U.S. SEC’s approval of spot Ethereum ETFs. 

Brandt cautioned that the complexities of staking could lead to substantial financial pitfalls for uninformed investors.

ETH Price Action

Meanwhile, on the weekly chart, ETH presently exhibits a symmetrical triangle pattern characterized by lower highs and higher lows. The descending resistance line, drawn from the all-time high of $4,868.8, forms the upper boundary of this long-term descending triangle pattern. 

Complementing this, the ascending support line, extending from the 2018 low, delineates the lower boundary, creating a significant structural formation on the price chart.

Ethereum Weekly Chart
ETH/USD 1-Week Chart

According to the chart, Ethereum marked a low of around $81.9 in 2018, signaling the beginning of a substantial upward trend. This momentum eventually propelled ETH to its ATH of $4,868. 

More recently, the token has rebounded from the 0.618 Fibonacci retracement level near $3,000, underscoring strong support at this price point.

In a bullish scenario, a successful break above the descending resistance line and the 0.786 Fibonacci level around $3,900 could pave the way towards the ATH near $4,868.8. A confirmed breakout beyond this level would be a robust bullish indicator, possibly leading to new record highs.

Conversely, a bearish scenario would unfold if Ethereum fails to overcome the resistance and drops below the 0.618 level. This could lead to a retest of lower support levels, including the crucial ascending support line.

Pundit Examines XRP ETF Buzz Amid Valour and 21Shares XRP ETPs

Abdulkarim Abdulwahab
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Pundit Examines XRP ETF Buzz Amid Valour and 21Shares XRP ETPs

Recently, the XRP community has been increasingly concerned about the coming of an XRP ETF, though Valour and 21Shares have existing XRP ETPs.

The momentum for an XRP ETF launch has increased, with the U.S. SEC approving spot ETFs for Ethereum and Bitcoin. As a result, XRP enthusiasts are eagerly advocating for a comparable investment product for XRP, expecting it to positively influence XRP’s market price, similar to the effects seen with Ethereum and Bitcoin.

Observing the trend, prominent community figure Crypto Eri pondered the significance of discussions around the XRP ETF by pointing out that at least two substantial XRP-based investment products are available, both of which are issued by major entities and are asset-backed.

In particular, Eri cited the XRP exchange-traded products (ETPs) offered by 21Shares and Valour. Additionally, she referenced remarks from Yoshitaka Kitao, the chairman and president of SBI Holdings, who has indicated that a cryptocurrency ETF is on the horizon, with support from an American issuer. With these developments in mind, Eri contemplated what might still be lacking.

Valour and 21Shares XRP ETPs

Notably, Valour launched an XRP ETP on Sweden’s Nordic Growth Market (NGM) exchange early this year, commencing trading on February 21, 2024.

Conversely, the 21Shares XRP ETP (AXRP) debuted four years ago in April 2019 and currently boasts assets under management of $53,741,755. As of May 24, AXRP has a net asset value of $15.24 and a year-to-date return of negative 8.40%.

Notably, this XRP ETP claims to be fully backed by physical XRP and mirrors the performance of XRP. It provides investors with a straightforward, regulated, and secure method to invest in the token.

Investors can access AXRP through various financial institutions, including Easybank, finanzen.net Zero, Fineco, and more than ten additional banks and brokerages.

XRP ETPs and ETFs

Meanwhile, Eri’s spotlight on these existing XRP-based investment products has failed to quell the longing for XRP ETFs.

An X user responded by arguing that the products in question are not identical. The commenter stated that Eri’s claim of two existing XRP ETFs is inaccurate because the cited examples are ETPs, not ETFs.

Furthermore, the X user pointed out that Bitcoin ETPs existed prior to the introduction of Bitcoin ETFs, yet the latter attracted more significant attention. 

Notably, Eri’s spotlight on the existing XRP ETPs relies on the fact that ETPs are a broad category that includes various investment products traded on exchanges, such as ETFs, ETNs, and ETCs. 

Meanwhile, an ETF is a type of ETP that holds a collection of assets, including crypto. Their primary purpose is to track the performance of the assets they hold. 

Expert Identifies Decisive Level XRP Needs to Breach to Signal the Start of Its Uptrend

Sam Wisdom Raphael
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Expert Identifies Decisive Level XRP Needs to Breach to Signal the Start of Its Uptrend

Renowned crypto analyst Dark Defender has pinpointed a crucial price level for XRP that could signal the onset of a significant upward trend. 

In a recent X analysis, Dark Defender leveraged the Heikin Ashi Candles and the Fisher Indicator in identifying trend shifts. These tools help traders identify the direction of trends by smoothing out price fluctuations, making it easier to spot consistent movements. 

According to the analyst, the combination of these tools on a weekly time frame clearly shows potential trend reversals for XRP. The Heikin Ashi Candles are designed to filter out market noise and present a clearer view of the trend by averaging the open, close, high, and low prices. 

A Combination of Crucial Indicators

This method allows traders to focus on the broader trend rather than short-term volatility. The Fisher Indicator, which is used to identify the momentum and direction of price changes, further supports this analysis by confirming trend shifts.

Leveraging these metrics, Dark Defender identifies the critical price zone for XRP as being between $0.6044 and $0.6649. This range is pivotal because it encompasses multiple significant technical indicators. 

One such indicator is the Ichimoku Cloud, a tool that helps find support and resistance levels, trend direction, and momentum. The Ichimoku Cloud’s components align closely with the Fibonacci retracement levels within this price range.

Fibonacci retracement levels are based on key numbers identified by mathematician Leonardo Fibonacci and are used by traders to predict potential support and resistance levels. In this context, they reinforce the significance of the $0.6044 to $0.6649 range as a critical area for XRP to break through.

Additionally, Dark Defender notes that the Trend Resistance Line, depicted as a dark red line on the chart, forms an intersection with the Ichimoku Clouds and Fibonacci levels within this range. 

XRP Needs to Close a Week Above $0.6649

This convergence of multiple technical indicators at the same price levels demonstrates the importance of this zone. A weekly candle close above $0.6649 would be a strong bullish signal, indicating that XRP has the momentum to push higher towards the upper Fibonacci levels.

As of the latest analysis, XRP has already broken above the lower boundary of this critical range, closing the week above the $0.52 level. This development is encouraging for bullish investors, suggesting that XRP is on the cusp of taking out $0.6049 and tackling the upper resistance at $0.6649. 

According to Dark Defender, should this level be breached on a weekly closing basis, it would signal a robust uptrend, potentially propelling XRP to new highs.

Dark Defender also called attention to this movement the Elliott Wave Theory, specifically mentioning that XRP is currently in Grand Wave 3. In Elliott Wave Theory, Wave 3 is typically the most powerful and extended wave in a bullish market cycle, often characterized by significant price appreciation.

Meanwhile, as XRP trades for $0.5245, it would need to breach both the 20-day SMA ($0.5269) and the 200-day SMA ($0.5776) to push toward retesting Dark Defender’s initial point of interest at $0.6049. Breaching these two moving averages could signal enough strength from the bulls for a rally toward $0.6049.

XRP Daily SMAs
XRP Daily SMAs

Shiba Inu Team Says They Focus on Growth Rather than 30% to 50% Short-Term Gains

Lele Jima
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Shiba Inu Team Says They Focus on Growth Rather than 30% to 50% Short-Term Gains

Lucie, the marketing specialist for the Shiba Inu ecosystem, reveals the team’s focus on long-term goals for SHIB instead of pursuing short-term gains of 30% to 50%. 

The prominent Shiba Inu marketing specialist disclosed this in an X post over the weekend.

Shiba Inu Not Obsessed with Short-Term Gains 

According to Lucie, the Shiba Inu ecosystem team is not obsessed with short-term gains that could drive the price of SHIB up 30% – 50%. 

Instead, Lucie emphasizes a long-term perspective, where the team is dedicated to building meaningful projects within the Shiba Inu ecosystem. She asserted that these efforts would help the team collect the fruits of their seeds at the appropriate time. 

The marketing lead cautioned critics who go about spreading FUDs (Fear, Uncertainty, & Doubts) and insults towards Shiba Inu under her X posts, stating that she has zero tolerance for such negative energy. 

Lucie also cautioned Shiba Inu community members against investing in sh*tcoins, crypto projects with little or no potential. 

“Let’s see what the future will bring [for Shiba Inu],” she added. 

Here’s Why Shiba Inu Can Prevail Against Dominant Projects 

Furthermore, Lucie expressed confidence in the potential of underdogs emerging victorious against well-established and dominant projects. Interestingly, she backed up her belief with the outcome of the men’s Ice Hockey tournament in the 1998 Winter Olympics in Nagano, Japan. 

The competition featured teams like the Czech Republic, the United States, Canada, and Russia. She noted that although many considered the Czech Republic the underdog against powerhouse nations like Canada, the United States, and Russia, the country still won the competition, leaving many spectators stunned. 

Led by its “superstar goalie” Dominik Hašek, the Czech team defeated the U.S., Canada, and Russia in the Quarter-Final, Semi-Final, and Final of the competition to win the gold medal. 

She characterized Czech’s victory as a monumental upset and iconic underdog story, showcasing that teamwork and dedication could prevail over star-studded lineups. 

Additionally, Lucie noted that the Czech Republic’s performance in the 1998 Winter Olympics proves anything is possible, including the fact that underdogs can triumph against well-established teams. 

“All Hail SHIB […] I always believed we could win in Nagano,” Lucie remarked. 

Her story suggests that Shiba Inu, which many consider to be an underdog in the crypto space, could also pull a monumental upset and outperform dominant crypto assets in the future. 

How Much 10K, 100K, 500K, and 1M Cardano Would Be Worth if ADA Hits $10

Abdulkarim Abdulwahab
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How Much 10K, 100K, 500K, and 1M Cardano Would Be Worth if ADA Hits $10

Investors committing larger stakes in Cardano stand to become millionaires in the near future if ADA cracks the $10 price.

Cardano (ADA) has continued to linger on the sidelines in recent times, hovering around the $0.4 price level. Currently, ADA sells for $0.4617, experiencing negative growth over the past seven and thirty days, even as the broader cryptocurrency market has seen a modest surge spurred by Bitcoin’s ascent back into the $70K territory.

Meanwhile, according to prominent analysts, Cardano is poised for commendable price actions in the coming weeks, as reflected in historical observations. These market watchers target ambitious highs for ADA, including uncharted territories like the $10 range.

Accordingly, passionate ADA investors might be curious about the potential worth of their holdings if Cardano reached this $10 goal. The evaluation contemplates the prospective worth of portfolios containing 10,000, 100,000, 500,000, and 1 million ADA.

Worth of 10K and 100K Cardano If ADA Hits $10

Individuals holding 10,000 ADA tokens stand to see their investment valued at $100K should the asset surge to a floor price of $10. Notably, acquiring 10K ADA as of May 26 costs only $4,617. Essentially, today’s ADA investors are in a position to realize an up to 2,066% return on investment should Cardano soar to $10.

Investors holding 100K ADA can achieve a similar 20X gain. Specifically, with ADA at $10, 100,000 Cardano tokens will yield exactly $1 million. Meanwhile, this same portfolio costs only $46,170 at present.

Worth of 500K and 1M Cardano with ADA Hits $10

While holding 100,000 is sufficient to make $1 million with ADA at $10, individuals taking more significant risks in this asset by acquiring 500K and 1 million Cardano tokens are in for more staggering profit.

In particular, the value of a wallet holding 500K ADA, which costs $230,850 today, will be elevated to a pricy $5 million should Cardano trade at $10. Similarly, the $461,700 price tag for 1 million ADA could balloon to $10 million if the asset surged by 20 times its current value.

When Can ADA Reach $10?

Having outlined the lofty returns investors stand to profit from Cardano, attention shifts to the feasibility of ADA reaching $10.

Analysts from Changelly and Telegaon believe ADA could hit $10 by March 2031. Factors potentially driving this growth include Cardano’s development activities and the bull historical cycles that follow Bitcoin halvings.

Meanwhile, independent market observers anticipate ADA will set new records in the coming months, with targets ranging from $7 to $10 by 2024. These projections are primarily based on historical trends, such as ADA’s 4,095% rally after a 50% drop in 2019, suggesting the current dip could be a substantial buying opportunity.

Here Are Top 19 Altcoins Ready to Skyrocket This Season 

Lele Jima
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Here Are Top 19 Altcoins Ready to Skyrocket This Season 

Altcoin Daily, a prominent crypto YouTube channel, highlights the top 19 crypto assets ready to skyrocket this bull season, including BTC, ETH, and XRP. 

The border crypto community is bullish on the series of positive events in the market over the past week. As reported earlier, the United States House of Representatives voted to pass the first major crypto bill that aims to provide clear regulations for the industry. 

While investors celebrated this win, the U.S. SEC approved multiple spot-based Ethereum exchange-traded funds (ETFs). Although these funds have not commenced trading due to the SEC’s delay in approving the S-1 documents, several ETF analysts project that the regulatory agency would approve these filings in the coming weeks.

Following the events that have occurred in the past weeks, investors are confident that this season’s bull run could be the biggest ever. As a result, they have embarked on a mission to find the top crypto assets with good growth potential. 

Top 19 Cryptos with Huge Growth Potential 

Amid the speculation, prominent YouTube channel Altcoin Daily highlighted its top 19 assets that have the potential to record significant returns this season. The list comprises both high and low-cap assets.  

Bitcoin (BTC) 

At the top of the list is Bitcoin, the largest crypto asset with a market cap of $1.36 trillion and a 24-hour volume of $22.9 billion. Bitcoin tops the list due to its widespread popularity. Altcoin Daily also mentioned Bitcoin’s finite supply and growing demand as other factors that could pave the way for a tremendous surge in the future. BTC trades at $69,122, with a daily gain of 1.16%. 

Ethereum (ETH) 

Expectedly, Ethereum, which ranks as the second-biggest cryptocurrency by market cap, also made it to Altcoin Daily’s top 19 cryptos list. 

According to Altcoin Daily, the recently approved spot-based Ethereum ETFs could propel ETH’s price for a massive surge. Ethereum was changing hands at $3,730 at press time, with its market cap comfortably sitting at around $448.24 billion. 

Solana (SOL) 

Solana was the third choice in Altcoin Daily’s top 19 crypto assets. The YouTuber selected Solana due to its growing demand and the possibility of top asset managers filing to launch an ETF for it. 

At press time, SOL was trading at $167.31, up 0.26% over the past 24 hours. The coin also boasts a market cap of $75.2 billion, which places it as the fifth biggest cryptocurrency by market cap.  

XRP (XRP) 

Altcoin Daily highlighted XRP as the fourth crypto asset with massive growth potential. XRP’s selection was partly due to Coinbase reinstating its trading in New York. At press time, XRP was trading at $0.5368, down 0.24% in the daily charts. With its market cap of $29.56 billion, XRP is the seventh-biggest cryptocurrency in the global ranking. 

Chainlink (LINK) 

For Altcoin Daily, Chainlink is the fifth crypto with a good potential to embark on a significant rally this season. According to the YouTube channel, top financial institutions, including BNY Mellon and JPMorgan, leverage Chainlink for its utility. 

A unit of LINK was changing hands at $16.94, down 2.15% over the past 24 hours. Chainlink boasts a market cap of $10.1 billion and is ranked as the 14th cryptocurrency.  

Avalanche (AVAX) 

Interestingly, Avalanche made the list due to its major partnerships with prominent financial institutions, like Citi and Fidelity Investments. Experts project that Avalanche could eventually become a future candidate for an ETF. 

In the meantime, AVAX was trading at $37.78, up 0.41% in the daily charts. It has a valuation of $14.84 billion, positioning it as the 11th biggest cryptocurrency in the industry.  

Toncoin (TON) 

According to Altcoin Daily, Toncoin is one of the fastest-growing ecosystems in the crypto industry and is expected to grow significantly in the future. At the time of writing, TON was priced at $6.41 with a daily surge of 3.97%. TON is ranked as the ninth-biggest crypto with a market cap of $22.28 billion. 

AIT Protocol (AIT) 

Altcoin Daily added AIT to the list due to its artificial intelligence (AI) functionalities and token-burning model. The token is ranked as the 698th-biggest cryptocurrency, with its market cap standing at $40.77 million. AIT is priced at $0.3122, up 9.47% in the past day.  

LimeWire (LMWR)

The YouTube channel expressed bullishness in LimeWire due to its focus on AI and music. LMWR was trading around $0.6672, down 4.40% in the past 24 hours. The token ranks as the 324th-biggest cryptocurrency with a market cap of $191.43 million. 

Sonorus (SNR) 

With a market cap of $6.75 million, Sonorus ranks as the 2,909th biggest cryptocurrency. Its inclusion in the list was due to efforts in the AI music sector. Sonorus enables anyone to become an artist, thanks to its enhanced artificial intelligence music platform. SNR was changing hands at $0.1151, marking a 24-hour decline of 15.92%. 

Algorand (ALGO) 

Algorand also made the list of the top 19 crypto assets with huge growth potential. Besides Algorand’s recently released commercials, Altcoin Daily did not indicate why they added the token to the list. 

In the hours leading up to press time, ALGO was trading at $0.1919, with a 24-hour surge of 3.95%. The coin also sits as the 61st-biggest cryptocurrency, boasting a market cap of $1.56 billion. 

Paid Network (PAID)

Altcoin Daily listed Paid Network (PAID) as the 12th crypto asset on the list, with its price potentially skyrocketing significantly this bull season. A unit of PAID was trading at $0.1381 at the time of writing, with its market cap standing at $39.91 million. 

Propy (PRO) 

Propy is the 13th asset on the list of top cryptos with a potentially good return on investment. The crypto project is focused on tokenized real estate. PRO trades at $2.25 at press time, with a daily surge of 0.17%. It ranks as the 292nd-largest cryptocurrency with a valuation of $224.72 million. 

Ondo Finance (ONDO)

ONDO, the 58th-biggest cryptocurrency, was included in Altcoin Daily’s list of assets with huge growth potential. The project is backed by top players in the industry, including Coinbase and Pantera Capital. A unit of ONDO token was trading around $1.22 at the time of writing this line. 

Internet Computer (ICP) 

Altcoin Daily characterized Internet Computer as one of the Layer-1’ss dark horses. ICP ranks as the 22nd-biggest asset in the global crypto ranking, with a valuation of $5.72 billion. At press time, the token changes hands at $12.32, with a daily surge of 3%. 

SuperVerse (SUPER) 

SuperVerse is a web 3.0 gaming project. Altcoin Daily believes SUPER has strong growth potential due to its focus on community play and token distribution. With a market cap of $502.8 million, SUPER is currently the 141st-largest cryptocurrency. It is trading at $1.03, up 0.7% in the daily charts. 

Trex20 (TX20)

This is another Web 3.0 gaming project included in the list. Ranked as the 3,274th crypto asset, TX20 boasts a market cap of $347,740. A unit of TX20 was trading at $0.0163 at press time. 

Foxy (FOXY) 

Foxy is the only meme-based cryptocurrency Altcoin Daily added to the list of top 19 crypto assets with huge growth potential. At press time, FOXY was trading at $0.0135, up 2.51% over the past 24 hours. It also boasts a market cap of $40.59 million, making it the 2,656th biggest cryptocurrency. 

Coti Network (COTI) 

The 19th and final selection was Coti Network, a Layer-1 crypto project focusing on developing fintech products. COTI has a market cap of $208.13 million, positioning the token as the 306th biggest cryptocurrency by valuation. It was trading at $0.1323 in the hours leading up to press time, with a 24-hour surge of 2.15%. 

Arbitrum (ARB) Price Surges 26% as Ethereum ETFs Approval Lifts Layer-2 Sector

Mark Brennan
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Arbitrum (ARB) Price Surges 26% as Ethereum ETFs Approval Lifts Layer-2 Sector

Arbitrum price reclaimed $1.20 mark on May 25, up 25% within the weekly timeframe on news of Ethereum ETF approval: with new users trooping into the L2 ecosystem, ARB could witness more upside.

Arbitrum price surges 26% on Ethereum ETF Approval News

News of the Ethereum ETF approval has triggered a massive shuffle across the global cryptocurrency markets. Ethereum’s main rival proof of stake networks including mega-cap assets like Solana (SOL) and Cardano (ADA) have lost traction, while Ethereum-affiliated projects have received considerable boost since the SEC official verdict on May 23.

Notably, Ethereum Layer-2 networks have emerged one of the biggest gainers from the recent shift in crypto investors preferences in the aftermath of the ETH spot ETF approval.

Arbitrum is one of the largest Ethereum L2 networks, and recent price action is in keeping with the aforementioned narrative.

Arbitrum (ARB) price action after Ethereum ETF approval | TradingView
Arbitrum (ARB) price action after Ethereum ETF approval | TradingView

The chart above shows the Arbitrum price had initially surged 32% to hit a 40-day peak of $1.25 on news of the SEC’s approval verdict on May 23 before retracing to the $1.20 support level at the time of publication on May 25.

Notably, Arbitrum’s 25% upswing within the weekly time frame closely mirrors ETH price action, which also saw a 25% boost to reclaim the $3,700 territory.

As investors prepare for billions if institutional investment to flow in to the Ethereum ecosystem in the days ahead, this close price correlation to ETH suggests that ARB price could be poised for more upside in the days ahead.

100,000 New Investors Have Join Arbitrum Network This Week

Another vital catalyst behind ARB’s 25% price gains is the sheer number of new users that have trooped into the Arbitrum L2 network this week. Santiment chart below monitors the total number of individual wallets holding non-zero units of ARB tokens.

This chart provides real-time insights into a blockchain network, new-user acquisition, or the rate at which the number of investors within the ecosystem has grown within a given period.

Arbitrum (ARB) price action after Ethereum ETF approval | TradingView
Arbitrum price vs. ARB Total Number of Holders | Santiment

According to the data presented in the chart above, 1.5 million individual wallets held ARB tokens at the start of the week on May 20. But at the time of writing on May 25, that figure has surged to 1.51 million ARB wallets.

This implies that 10,000 new users have joined the Arbitrum network this week. As these new users execute transactions the growing demand for ARB tokens could spur more price unswings.

And with Ethereum ETF inflows in sight, majority of the 1.51 million ARB investors will likely hold their assets, in anticipation of positive impacts of the inflow of funds into the Ethereum L2 ecosystem.

The resulting decline in sell-pressure and growing demand from new entrants could see Abritrum’s price make another leg-up towards the next major milestone at $1.50.

Chainlink (LINK) Price overtakes Bitcoin Cash (BCH) as it rejoins $10 Billion Valuation Club

Mark Brennan
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Chainlink (LINK) Price overtakes Bitcoin Cash (BCH) as it rejoins $10 Billion Valuation Club

Chainlink price broke above $17.70 on Friday May 24, to reach a 45-day peak as the whale investors on embarked on a LINK buying spree in reaction to Ethereum (ETH) spot ETF approval this week. 

Chainlink overtakes Bitcoin Cash after Ethereum ETF Approval

Since the Ethereum ETF approval on May 23, crypto investors have been observed making conspicous moves to redirect capital towards ETH markets as well critical projects built on the Ethereum blockchain network.

Chainlink is widely regarded as a market leader providing the critical off-chain price feeds and other vital information needed by complex smart contracts to become the dominant form of digital agreement

The LINK token’s systemic importance to the crypto world and the Ethereum network has been brought to fore amid this major shift in investor preference this week.

The chart below shows the changes in market capitalization of Chainlink in comparison to Bitcoin Cash since the Ethereum ETF approval.

Chainlink (LINK) Price Valuation vs. Bitcoin Cash (BCH) 
Chainlink (LINK) Price Valuation vs. Bitcoin Cash (BCH)

At the eve of the SEC verdict, Chainlink market capitalization stood at $9.6 billion on May 22, trailing Bitcoin Cash’s valuation by over $230 billion.

But since the ETH approval on May 23, LINK price has surged 15% reaching a new monthly peak of $17.77 on May 24. Curiously, in comparison, Bitcoin Cash has only mustered a 5% upswing during that period.

Consequently, Chainlink market cap has now overtaken Bitcoin Cash, reclaiming the $10 billion valuation status, while BCH remains rooted at $9.75 billion at the time of publication on May 25.

Chainlink Whales Invested another $16M this week

Bullish swings in whale activity on Chainlink this week is another key indicator that underlines widespread investor preference for LINK and other Ethereum-hosted crypto projects.

The Santiment chart below shows real-time changes in balances of LINK tokens controlled by the top 100 largest wallets.

Chainlink price vs. LINK top 100 Investor Balances
Chainlink price vs. LINK top 100 Investor Balances

Chainlink’s top 100 investors held a cummulative balance of 701.05 million LINK tokens at the start of the week on May 19. But as indicated by the blue trendline in the chart above the whale investors have rapidly acquired over 1.2 million LINK, to bring their balances to 702.25 million at the time of publication on May 25.

Valued at the current Chainlink prices of around $17 per token, this implies the whales investor over $18 million this week alone.

As many large institutional investors look to front-run the bullish impact of ETH ETFs inflows to the broader Ethereum blockchain ecosystem, Chainlink could witness more whale demand in the days ahead.

Chainlink Price Forecast: $20 target now in focus

Chainlink price is currently trading at $17, up 15% within the 48-hour timeframe. With the added market liquidity, and whale investors propensity for long-term holding, the $18 million buying frenzy this week could be the beginning of a LINK price ascent towards the $20 milestone.

Chainlink LINK price forecast
Chainlink LINK price forecast

Looking at the historical accumulation trends, Chainlink price now faces a major resistance around the $17.50 level where, 8,190 active addresses had acquired 27.9 million LINK tokens.

If LINK price can establish a steady support base above this level, Chainlink price could reclaim the $20 territory for the first time since March 2024.

 

Dogecoin Price Surges 15% as Community Reacts to Meme Dog ‘Kabosu’s Death

Mark Brennan
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Dogecoin Price Surges 15% as Community Reacts to Meme Dog ‘Kabosu’s Death

Dogecoin price surge 15% on May 24 as global meme community was thrown into an following the death of Kabosu, the dog which has graced the memecoin’s iconic logo since 2013. 

Kabosu, the Shiba Inu who became an internet sensation and the face of Dogecoin, has passed away peacefully at the age of 18. Her legacy continues to resonate within the crypto community.

Kabosu’s owner, Atsuko Sato, shared the sad news on her official blog, expressing heartfelt gratitude for the love and support Kabosu received over the years. A farewell party for “Kabo-chan” is planned at Flower Kaori in Kotsu no Mori, Narita City, on May 26.

Crypto Community Reacts to Kabosu’s Death

The crypto community and fans worldwide have been sharing tributes and favorite memories of the dog that became an internet legend. Kabosu’s influence as the face of Dogecoin (DOGE) will remain a symbol of community spirit and meme culture for future generations.

Kabosu first gained attention in 2010 when Sato posted photos of her adopted dog on her blog. One particular image of Kabosu, showing a skeptical and curious expression, quickly went viral, giving rise to the “Doge” meme. This image, paired with phrases in broken English and Comic Sans font, became a cornerstone of internet culture.

By 2013, the meme’s popularity surged when Dogecoin was created, using Kabosu’s image as its logo. Initially intended as a joke, Dogecoin grew into a popular cryptocurrency, known for supporting various charitable initiatives, including clean water projects and funding for the Jamaican bobsled team.

In December 2022, Sato revealed that Kabosu was in a “dangerous position” health-wise, prompting an outpouring of support from the crypto community. Dogecoin co-creator Billy Markus, also known as Shibetoshi Nakamoto, urged his followers to send their support, leading one user on X to offer financial assistance to ensure Kabosu received the best treatment.

Kabosu’s impact extends beyond internet culture, even influencing political campaigns. For instance, U.S. President Joe Biden’s reelection campaign announced the hiring of a “master of memes,” with the primary role of managing relationships with digital media companies, podcasts, and meme pages on social media.

Kabosu’s legacy will continue to inspire and remind us of the power of memes in connecting communities and spreading joy. Rest in peace, Kabosu, the internet’s beloved Shiba Inu.

DOGE price forecast: $0.20 Rebound in Motion

Since news of Kabosu’s death broke on May 24, the outpouring of eulogy for the iconic dog has resulted in a demand surge for DOGE. Consequently, Dogecoin price has surged 14% since the news broke, reaching a daily timeframe peak of $0.173 on May 25.

However, the Parabolic SAR technical indicator suggests that DOGE price could be poised to make another leg-up towards $0.20 in the days ahead.

 

Dogecoin (DOGE) Price Forecast
Dogecoin (DOGE) Price Forecast

As seen about the parabolic SAR dots currently point to $0.142, far below the current price. This alignment often occurs when there’s a strong bullish momentum in the market.

However, DOGE price must close above the weekly timeframe peak of $0.18 for bulls to be confident of a $0.20 retest in the near term.

On the downside, Dogecoin price will likely enter bearish territories, if it fall rapidly below the key support level of $0.14 as highlighted by the parabolic SAR dots.

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