Nach sechs Wochen mit Kursgewinnen steht Bitcoin kurz vor einer weiteren „Korrektur“ – wird die Kursentwicklung von BTC die Geschichte wiederholen?
Bio Protocol defies crypto downturn with a 720% surge in volume
- Bio Protocol price rose more than 50% as bulls defied broader market selling to hit $1.46
- Despite overall sell-off pressure, BIO price is up double-digits in 24 hours as volume spikes 720%.
- BIO has benefited from key network developments, including staking and partnerships.
The price of Bio Protocol (BIO) shrugged off a broader crypto downturn to lead 24-hour gainers on Monday.
With the project that’s targeting the decentralized science (DeSci) ecosystem hitting key milestones recently, buyers have upped the ante by pushing BIO higher.
BIO price surges nearly 50% to lead top gainers
The Bio Protocol (BIO) price saw a significant surge as top altcoins struggled amid profit taking.
With Bitcoin shedding gains to below $116k and Ethereum dipping to $4,200, the BIO token climbed nearly 50% to lead the top gainers.
Per CoinMarketCap, this put the decentralized science project among the 500 largest cryptocurrencies by market capitalization.
Notably, Bio Protocol traded up from lows of $0.10 and topped $0.15.
The uptick meant BIO defied overall declines across the market, with gains coming as its 24-hour volume spiked 720% to over $393 million.
Although BIO remains double-digits up with over 21% upside in the past 24 hours, it has dropped from the $0.15 high. This shows the overall market weakness as sellers drive it to around $0.12.
Bio Protocol has hit key network milestones
Bio Protocol has gained amid significant network milestones in the past week.
As the DeSci economy picks up, the Bio Protocol team has positioned the project for greater traction with the launch of Bio Markets.
The goal is a platform that brings real-time insights into projects within the Bio Protocol ecosystem.
Markets bring growth trends and in-app trading for BioDAOs, and Bio plans to expand trading capabilities to IP-Tokens and new BioAgents.
Staking activity has also soared, with over 125 million BIO tokens staked, up to 3.5% of the circulating supply.
As the Bio team recently noted, staking generates BioXP, a key component for participating in upcoming Ignition Sales.
Unveiling of Yapping BioXP, also set to go live in the app this week, includes a boost campaign for BioAgents, further incentivizing community engagement.
What does it mean for BIO price?
Bio Protocol also hit a major milestone with CLAW, Percepta’s IP-Token.
Meanwhile, Molecule’s development of its v2 protocol targets the bridging of traditional corporate structures with DeSci.
Listing on Coinbase, the top U.S.-based crypto exchange, allows for further institutional adoption.
“From Bio V2’s launch and 100M+ BIO staked, to Coinbase listing $BIO and VitaDAO advancing longevity trials, the past month marked key steps in AI-driven science and DeSci adoption,” Bio Protocol recently posted.
Achievement of these milestones could help bolster the price of BIO.
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SOL could retest $174 amid bearish price action; Check forecast
Ke takeaways
- Solana is the worst performer in the top 10, down 6% in the last 24 hours.
- The coin could retest the $174 support level as BTC and others underperform.
SOL dips 6% as the broader market sheds nearly $200b
The weekend was bearish for Bitcoin, and other leading cryptocurrencies recorded huge losses. Bitcoin dropped to the $115k region after setting a new all-time high price last week, while Ether is now trading around $4,285 after hitting $4,700 a few days ago.
The worst performer among the top 10 cryptocurrencies by market cap is SOL, Solana’s native coin. SOL is down 6% in the last 24 hours and risks dropping below $180 soon if the bearish trend continues.
Despite the bearish performance, SOL has maintained its position as the sixth-largest cryptocurrency by market cap, behind Binance’s BNB. However, if the negative trend continues, SOL could lose more value and see its market cap drop below $90 billion.
The total cryptocurrency market cap dropped by nearly $200 billion over the weekend as SOL, ETH, XRP, and BTC all recorded heavy losses.
SOL eyes $174 support zone amid massive sell-off
The SOL/USD 4-hour chart remains bullish and efficient despite Solana recording losses over the last few hours. The technical indicators are switching bearish on the lower timeframe, indicating that sellers are now in control of the market.
The RSI of 37 shows that SOL is heading into the oversold territory if the bearish trend continues. The MACD lines have also crossed over into the negative region, suggesting a bearish trend.
If the sell-off continues, SOL could retest the first major support level and the TLQ at $174 in the coming hours or days. An extended bearish run would see SOL test the $155 low for the second time time month.
However, the market could embark on a recovery, and SOL could reclaim the recent high of $209. An extended bullish run would see SOL surge higher and hit $250 for the first time since February.
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Saylor signalisert erneuten Bitcoin (BTC)-Kauf: Rückgang kein Grund zum Aufhören
Saylor deutet einen bevorstehenden Bitcoin-Kauf durch Strategy an. Der BTC-Kurs liegt derzeit bei etwa 117.000 US-Dollar und damit unter seinem Allzeithoch.
Chainlink price prediction: LINK outperforms other coins in top 20
Key takeaways
- LINK is the best performer among the top 20 cryptocurrencies by market cap, up nearly 2%.
- Chainlink’s native coin is now trading above $25 per coin.
LINK up nearly 2% as the broader market underperforms
The crypto market was extremely bearish over the weekend, with nearly $200 billion wiped out from the market during that period. Bitcoin has dropped to the $115k zone while Ether is trading above $4,200 after failing to make a new all-time high last week.
However, LINK, the native coin of the Chainlink blockchain, is the only cryptocurrency in the top 20 to perform positively. LINK is up by more than 1% over the last 24 hours and is now trading above $25.
Its rally comes following recent developments like the launch of the Chainlink Reserve and its partnership with ICE, the company behind the New York Stock Exchange. Analysts believe that LINK is currently undervalued and its price could soar higher in the near term. LINK is currently the 11th-largest cryptocurrency by market cap after surpassing Hypiliquid’s $HYPE earlier this month.
LINK targets $30 as bullish momentum continues
The LINK/USD 4-hour chart is bullish thanks to the coin’s ongoing rally. However, it is inefficient, suggesting that LINK could sweep liquidity to the downside before continuing its rally.
The MACD lines are deep within the positive region, indicating a bullish momentum. The RSI of 59 also shows that LINK is still far away from the overbought region, indicating further room for growth.
If the rally is sustained, LINK could surge past the first major resistance level at $30 over the next few days. An extended bullish run would allow LINK to trade around $35 for the first time in four years. However, $30 could serve as a profit-taking region for long-term holders.
On the flip side, if LINK faces a correction like the broader market, it could drop to the TLQ and support level at $21 over the next few hours.
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