Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

Veröffentlicht am

Story (IP) price dumps 25% as profit taking intensifies

  • Story (IP) price fell sharply to hit lows of $7.13 on Friday, extending losses amid profit taking.
  • IP drops as selling pressure wipes out millions in positions across the market.
  • Analysts say Story’s strong traction as a real-world assets platform could help IP price bounce.

Story (IP), the token of the Story Protocol, has experienced a sharp correction in the past 24 hours.

Amid a more than 25% dip, the IP token has erased most of the gains seen as bulls pushed to a new all-time high early this week.

The losses have come amid heightened selling pressure as profit taking across the market hits major coins.

IP price nosedives amid profit taking

Story is the intellectual property blockchain targeted for a AI-native infrastructure for the $80 trillion IP asset class.

The protocol’s IP token, which powers the blockchain designed to tokenize and manage intellectual property assets ranging from AI models to creative works, plummeted 25% in the last 24 hours.

Losses saw price plummet to lows of $7.13, extending the dramatic drop that has followed IP’s surge to the all-time high of $14.89.

This means Story’s price has dropped more than 51% since its peak on Sept. 22.

Enthusiasm over the Story Protocol’s innovative approach to programmable IP licensing and its integration with decentralized applications drove bulls to dominance.

But with Bitcoin selling off and major altcoins following suit, IP has pared most of the upside.

IP price chart by TradingView

Per data from CoinMarket, trading volume has increased 41% to over $361 million in the past day to suggest a rush of sell orders.

The nosedive has intensified the profit taking the IP-focused blockchain solutions platform could yet witness fresh downside pain.

Currently, Story trades near $7.20, with bears shaving off about 30% of IP value in the past week.

Story Protocol, while innovative in its RWA approach, faces many of the headwinds that impact most cryptocurrencies, including a broader downturn of risk assets.

Why are analysts bullish on Story (IP)?

Despite the turmoil, some observers point to underlying strengths. Story Protocol’s recent tokenization of high-profile IP demonstrates real-world utility.

Key partnerships and integrations signal this strong traction and in institutional interest amid AI and blockchain adoption growth, add to this bullish perspective.

This is so as RWA takes shape, and the platform’s focus on the multi-trillion-dollar IP market gives it an edge.

“At its core, Story is the only blockchain purpose-built to make IP programmable, traceable, and monetizable in real-time, at global scale.

Conventional blockchains can represent static ownership but cannot embed dynamic, programmable license terms,” the Story team noted following mainnet launch.

Crypto analysts have also pointed to Grayscale’s launch of the Story Trust as a potential catalyst for IP. Hype are ETFs and institutional demand could be key.

Holding above $6.00 and successful bounce to $10 will buoy IP bulls. However, a dip below this key demand reload zone could allow sellers to target the $3.20 area.

The post Story (IP) price dumps 25% as profit taking intensifies appeared first on CoinJournal.

Veröffentlicht am

ZRO price gains 14% to break above key hurdle, defy broader dump

  • ZRO price pops 14% as LayerZero sees a 66% spike in trading volume.
  • The LayerZero Foundation has recently repurchased 50 million ZRO tokens, equivalent to 5% of the total supply.
  • Bulls could target a breakout to $3.25 and then highs above $5 if sentiment holds.

The LayerZero (ZRO) token is among the altcoins to defy the broader crypto dump today, with ZRO price up 14% in the past 24 hours.

Gains for LayerZero come as Bitcoin drops below $110,000 and Ethereum under $4,000.

But like some altcoins across the market, ZRO is seeing an uptick and has broken above the critical resistance zone near $2.20.

LayerZero price jumps 14% — why is ZRO up today?

While most altcoins hit downside action, ZRO is surging amid two notable network milestones.

Potentially, one is the announcement by the LayerZero Foundation of a major token buyback program.

The move triggered an immediate surge in ZRO’s price, with the altcoin climbing from lows of $1.83 to reach highs of $2.24.

A dip to retest the support area at $2.00 has nonetheless seen bulls break the key hurdle at $2.25 to hit highs of $2.33.

ZRO’s uptick aligned with the 50 million token buyback, with about $150 million ploughed back into the market for the tokens.

Traders reacted positively after the 25 million ZRO token unlock event earlier, with the buyback and market reaction helping to offset sell-off pressure.

Crucially, the repurchase has tightened supply and could provide more fuel for bulls.

LayerZero’s recent acquisition of the Stargate cross-chain bridge is another catalyst for ZRO price.

The Stargate integration, approved by the DAO with 94.7% support, came at a crucial time for LayerZero.

Plasma, the platform for global money movement, has unveiled its mainnet.

LayerZero is a key player in the ecosystem, able to bridge liquidity to Plasma via Stargate.

ZRO price has jumped amid these integrations.

What’s next for the ZRO price?

As the LayerZero price rose, trading volume spiked 66% to $173 million in the past 24 hours.

This suggests bulls are buying at current levels, and ZRO’s market value could benefit further.

ZRO price chart by TradingView

The ZRO price outlook also shows bulls are looking to ride a technical breakout.

On the daily chart, the price has broken above a descending triangle pattern’s resistance line.

Notably, technical indicators such as the daily RSI and MACD are flashing bullish signals for ZRO.

Successful retest and breakout from the trendline of a prolonged consolidation phase level will allow buyers to target $3.25 and higher.

Bulls are currently 53% up on the all-time low of $1.50 reached in March.

Meanwhile, the all-time high that counts as a short-term target sits about 70% off current prices at $7.53.

The post ZRO price gains 14% to break above key hurdle, defy broader dump appeared first on CoinJournal.

Veröffentlicht am

YouTube star Mr Beast scoops $900K worth of ASTER in a 3-day buying spree

  • Mr Beast bought 538,384 ASTER tokens in the past three days.
  • He accumulated the dip, purchasing at $1.87 average price.
  • Aster DEX resolved a technical trading issue today and compensated affected users in USDT.

Experienced market players are taking the current market downturn as a chance to buy at lower prices.

On-chain data shows popular YouTuber Mr Beast purchased 538,384 ASTER coins in the past three days.

The star had deposited $1 million in USDT using two wallets, withdrawing tokens worth approximately $990,000.

Details show Mr Beast executed his transaction when ASTER traded at around $1.87 per coin, indicating what many consider a smart “dip buying strategy.

Aster has gained traction lately as perpetual decentralized exchanges dominate trends that Hyperliquid began weeks ago.

Native ASTER has been on steroids this week, soaring continuously from $0.10 on September 17 to all-time highs above $2.4 as of September 24.

However, it has lost the upward steam due to broader market bearishness and profit booking.

ASTER is trading at $1.88 after losing more than 10% of its value within the last 24 hours.

Despite the downside, massive whale actions signal confidence in solid rebounds.

Mr Beast’s bet on Aster has triggered optimism among enthusiasts who anticipate significant growth as the altcoin gains visibility.

One X user commented:

Celebrity entries like this tend to draw mainstream attention, interesting to see how retail sentiment reacts around ASTER after Mr Beast’s move.

Aster DEX sparks debates with swift issue resolution

Mr Beast’s purchase news emerged as the decentralized exchange faced a technical challenge early today.

The team reported abnormal price actions on the XPL trading pair, which liquidated some users.

Meanwhile, the DEX reacted swiftly, solving the issue and reimbursing affected users.

Individuals received compensation in USDT, covering all losses, including liquidation and trading fees.

The official announcement declared:

Compensation for the XPL perp incident has now been fully distributed. All affected users have received reimbursement directly in USDT to their accounts.

The DEX emphasized transparency during the recovery process and urged users with concerns to reach out to the support through Discord.

The prompt action won traders as it reinforced trust in Aster’s ability to safeguard users and ensure transparency during downtimes.

ASTER Price action

The native token trades at $1.88 after dropping over 10% in the previous 24 hours.

ASTER mirror prevailing broader declines, which escalated after the latest USD GDP data revision.

Nevertheless, experts believe the current bearish performance won’t last, forecasting swift rebounds as October approaches.

Investor and analyst @Eljaboom says ASTER is about to explode to $3 as it completes its correction phase.

That would translate to an approximately 60% gain from the market price.

Besides endorsement from Binance’s CZ, Aster gains traction as it taps a unique niche, which looks to dominate the upcoming bull run.

Perpetual DEXs are attracting attention as they blend DeFi’s transparency and self-custody with CEX-like speed, liquidity, and performance.

The post YouTube star Mr Beast scoops $900K worth of ASTER in a 3-day buying spree appeared first on CoinJournal.

Veröffentlicht am

Bitwise seeks SEC approval for first-ever Hyperliquid (HYPE) ETF

  • Bitwise has submitted S1 for an ETF tracking HYPE.
  • It would be the first ETF tied to a perp DEX token.
  • Approval could see Hyperliquid exploding to new highs.

$15B asset manager Bitwise seems prepared for the next chapter of digital finance.

The company has filed with the US Securities & Exchange Commission for an exchange-traded fund (ETF) tracking Hyperliquid’s native coin, HYPE.

The S-1 application gained traction as a HYPE ETF would be the first of its kind, offering market players regulated access to a perpetual decentralized exchange token.

That signals the growing influence of DeFi and increasing pressure on Wall Street to expand cryptocurrency offerings beyond the top Bitcoin and Ethereum.

Understanding Hyperliquid

Hyperliquid is a decentralized platform designed specifically for DeFi undertakings.

While traditional blockchains often incorporate multiple use cases, Hyperliquid zeroes in on perpetual futures (perps) trading – a derivatives product that’s gaining remarkable attention in the cryptocurrency markets.

Notably, perps allow traders to speculate on future prices of assets without expiry dates.

That has made them attractive to institutions and experienced traders seeking heightened liquidity and flexibility.

Most importantly, Hyperliquid boasts a high-frequency infrastructure that handles the market with speed and efficiency.

This has seen the DEX create a sought-after niche in the blockchain industry.

Bitwise’s HYPE ETF application reflects confidence in the broader cryptography technology and Hyperliquid’s role in the future of decentralized finance (DeFi).

A exchange-traded fund approval would be a game-changer for US investors and the DEX.

Hyperliquid might boom to levels that the BitMEX co-founder predicted as institutional players join.

Pension funds, retail broker accounts, and hedge funds will have a regulated exposure to HYPE via a familiar product: the ETF.

Americans will gain frictionless access to a high-frequency decentralized asset, something that has been somewhat intimidating for non-crypto-native investors.

Everyday investors can use brokerage apps to buy into the altcoin’s exposure without the hurdles of creating wallets and exploring DEXs.

Challenges ahead

While the application stirred optimism, approval remains far from guaranteed.

The US SEC has taken a cautious approach to cryptocurrency ETFs, often citing concerns like investor protection, liquidity, and market manipulation.

Furthermore, Bitwise’s filing comes as the regulator delays its decision on multiple altcoin exchange-traded funds, including Pengu, Avalanche, and Sei.

Moreover, questions linger whether the SEC can endorse an ETF of an asset with a primary utility linked to high-risk perpetual trading.

The regulator will likely prioritize balancing investor safety and innovation when reviewing the application.

HYPE price action

The alt lost 0.2% in the past day to hover at $42.43.

HYPE has declined from its mid-September all-time highs of $58.

Meanwhile, its current outlook mirrors ongoing broader market declines.

Cryptocurrencies extended their downside yesterday after the US revised GDP data.

Bitcoin trades below $110,000 as cryptocurrencies follow September’s history of bearish performance.

The post Bitwise seeks SEC approval for first-ever Hyperliquid (HYPE) ETF appeared first on CoinJournal.

Veröffentlicht am

World Liberty’s WLFI holds steady as Robinhood listing sparks interest

  • WLFI displays resilience amid broader market bloodbath.
  • Robinhood has listed the token today, boosting investor trust and visibility.
  • Cryptos struggle as September history unfolds.

The digital assets industry slumped on Thursday as Bitcoin dipped from above $112,000 to $110,700.

The global crypto market drifted further below the $4 trillion psychological mark after a 2.5% 24-hour dip to $3.81 trillion.

While altcoins appear to suffer the most, with many halting their bullish structures with double-digit declines, Trump-linked WLFI held steady.

World Liberty Financial’s token gained a modest 0.64% on its daily chart amid market-wide slumps.

The resilience comes after the DeFi project scored a Robinhood listing today.

The integration renewed interest among the crypto community as it translates to increased visibility to the retail audience.

Also, the compliant, commission-free trading platform adds credibility to WLFI, which remains tied to political developments.

The native token maintained stability following the listing updates and seems ready to lead the next leg up.

Robinhood boosts WLFI sentiments

Robinhood has gained a reputation as a leading trading platform for retailers, allowing individuals to access both cryptocurrencies and traditional stocks.

Most importantly, the platform prioritizes compliance, meaning it lists financial instruments after significant scrutiny.

Many believe digital tokens on Robinhood are legitimate, with impressive future potential.

Therefore, WLFI’s listing on the trading platform marks a key breakthrough for World Liberty Financial.

DeFi enthusiast Chence Alpha expects magnified liquidity as smart-money ventures into the token.

The move indicates growing recognition after the native token’s September 1 official debut.

Cryptocurrency enthusiasts love Robinhood for its user-friendliness and reduced entry barriers.

Even individuals who might have never interacted with decentralized exchanges (DEXs) can purchase WLFI tokens from the application.

Meanwhile, this development has likely cushioned WLFI against the prevailing broader market downturn.

Magnified exposure and easier entry could attract another wave of investors.

That will boost trading volumes and support price performances, essential factors as the alt eyes rebound to post-listing peaks above $0.30.

WLFI price outlook

The native coin outperformed markets today as it remained stable despite notable dips in the overall market.

WLFI trades at $0.2019 after a 0.64% increase on its daily chart.

The soaring daily volumes, currently above $500 million, signal reinvigorated optimism in the altcoin.

Nonetheless, the broader market outlook remains crucial for WLFI’s near-term trajectory.

Exchange listings trigger short-lived gains, and unless bulls amplify actions, corrections follow once the hype fades.

Bears dominate the cryptocurrency space, and the market might underperform in the coming sessions.

History shows September closes with losses, and that means sellers could have an upper hand as October approaches.

Experts view the current dips as a normal September rest before “Uptober” rallies.

Analyst Michael van de Poppe believes this is “the final correction before the big run” that could see altcoins surge up to 10x.

Bitcoin’s performance and potential swift recovery above $113,000 would support WLFI’s stability and catalyze the anticipated breakout past the $0.3 psychological mark.

The post World Liberty’s WLFI holds steady as Robinhood listing sparks interest appeared first on CoinJournal.