Kategorie: Crypto Markets

• Bitcoin price has dipped below $40k, extending intraday losses to lows of $38,620.
• Solana (SOL) is down 10% at the time of writing, trading near $79 as altcoins bleed.
• Pullix (PLX), a new hybrid exchange in presale, has raised over $4.2 million as it attracts investors.

The cryptocurrency market is mainly red today, with most top altcoins posting price movements that mirror the 4% dive witnessed in the Bitcoin (BTC) market. Per details on CoinGecko, the global crypto market is down 5% to $1.59 trillion as BTC price slipped to lows of $38,620. Solana (SOL) was trading below $80 as bears threatened to pull it further into the woods.

As this happens, both the trading and presale market continue to prove attractive for buying opportunities. Pullix (PLX), a new hybrid exchange token in presale, is among those seeing huge investor interest.

This price prediction article looks at the outlook for Bitcoin and Solana and what that means for PLX.

Bitcoin (BTC) price under pressure below $40k

Amid the broader crypto weakness is the observable pressure that has hit Bitcoin price since the SEC approved spot Bitcoin ETFs and trading commenced on January 11, 2024. 

One of the biggest drivers of the sell-off has been the Grayscale dump that has seen the digital asset manager sell over $2.3 billion worth of BTC to handle GBTC share redemptions.

BTC price could now retest lower levels, potentially $35k before establishing a new upside footing. Key to the bullish outlook for the flagship cryptocurrency is the upcoming BTC halving and falling pressure from GBTC dump.

Solana (SOL) price dips below $80

Solana (SOL) was one of the best performing altcoins as 2023 came to a bullish end, with SOL hitting highs above $123.

Meme coin hype and overall growth in the Solana ecosystem saw the token stand out. The altcoin is however back below the psychological $100, extending losses below $80 in the past 24 hours as its value dipped 6%.

While massive profit-taking has fueled the latest dive, repeated rejections at the key level mentioned above has SOL bulls staring at a potential breakdown towards $60. According to crypto analyst and investor Scott Melker (The Wolf of All Streets), SOL prices could revisit the $50 area if things got “ugly.”

Asset manager Franklin Templeton recently shared a bullish outlook for Solana, highlighting key metrics such as DeFi, meme coins and DePIN (Decentralized Physical Infrastructure Networks). 

If Solana bounces and reclaims the psychological level amid the potential bull market, it could become one of the best altcoin performers.

Pullix (PLX) price outlook as presale hits $4.2 million

Pullix (PLX) is set to launch a new hybrid exchange for DeFi, bring a solution to the ecosystem’s liquidity problem as it combines the best of centralized and decentralized exchanges. 

The hybrid exchange model allows Pullix to offer a unified trading platform where traders can leverage institutional-grade liquidity and trading tools while retaining full control over their assets. Apart from being non-custodial, attractive user features include copy trading, 2FA security options and slippage-free trading.

The native utility token PLX will power Pullix’s “Trade-to-Earn” ecosystem, giving holders access to a unique revenue-sharing opportunity where traders can earn a share of the exchange’s daily revenues. For all daily revenue, Pullix will offer 30% to its customers – 50% will be shared via staking rewards and 50% in a token buy back and burn mechanism.

As the platform moves towards its launch after the presale, interest in PLX has skyrocketed. Currently in stage 6 and with PLX presale price at $0.08, investors see an opportunity. Only 19% of tokens available in the current stage remain.

With early adopters likely to see significant returns post-presale when Pullix launches on exchanges, now could be the time to buy PLX. You can get more details on how to go about it on the presale page.

The post Bitcoin, Solana, Pullix price prediction as BTC dives below $40k appeared first on CoinJournal.

• Bitcoin price is currently near $40,480 after falling 3% in the past 24 hours.
• BTC faces pressure as Grayscale sells more Bitcoin amid GBTC outflows.

 Bitcoin (BTC) price saw another sell-off bout on Monday as the crypto fell more than 3% to hover just above the key $40,400 level.

With today’s BTC decline, the global crypto market cap has also dipped by about 4% in the past 24 hours to $1.65 trillion. The outlook is one of widespread altcoin weakness – Ether prices have dropped below $2,400, Solana under $87 and XRP towards $0.52.

Injective, Near Protocol and Avalanche are some of the biggest losers on the day with near double-digit declines in the past 24 hours.

Bitcoin price dips amid Grayscale BTC dump

The flagship cryptocurrency’s struggles came as GBTC issuer Grayscale Investments transferred more of its BTC holdings to Coinbase Prime. Prices fell sharply last week amid the growing GBTC outflows.

As on-chain data from blockchain security and market intelligence platform Arkham Intelligence showed, Grayscale moved another 15,308 BTC as trading markets opened on Monday. The total amount of funds transferred has increased to over 63,991 as of January 22, 2024.

In total, the digital asset manager has deposited BTC worth over $2.68 billion to Coinbase Prime since its GBTC exchange-traded fund began trading on January 11.

Arkham data shows Grayscale still holds 549,116 BTC worth over $22.3 billion.

Grayscale deposited 15,308 $BTC($623.8M) to #CoinbasePrime again 50 mins ago.

Since the ETF was passed, #Grayscale has deposited 63,991 $BTC($2.68B) to #CoinbasePrime during the opening hours of U.S. stocks (14:30 UTC).

According to Arkham, #Grayscale currently holds 549,116… pic.twitter.com/i1LtKryu6W

— Lookonchain (@lookonchain) January 22, 2024

BTC price outlook

If GBTC related sell-off pressure continues to mount, Bitcoin price could swing below the critical support level. Chances that bears could target lower areas are likely to increase should fresh panic selling hit the market.

However, should bulls flip higher on a strong bounce from the current levels, Bitcoin price could eye the 43k hurdle. The recent highs above $49k could be the main resistance zone in case of an strengthened upward continuation.

BTC traded at $40,480 on Monday at 11:30 am ET.

The post BTC dips as key support zone at $40k comes under pressure appeared first on CoinJournal.

• CryptoCom confirms Terra Luna Classic (LUNC) delisting.
• Terra Luna Classic (LUNC) sees a 13% price plunge.
• According to emails received by investors, the exchange is set to delist the coin on Feb 15.

In a sudden turn of events, the Terra Luna Classic (LUNC) community is grappling with uncertainty following the confirmation of its delisting by Crypto.com. The news has sent shockwaves through the market, causing a 13% tumble in LUNC prices.

Investors received emails about the delisting on February 15, raising concerns about the legitimacy of the information and potential phishing scams. Amidst this turmoil, Crypto.com has acknowledged the validity of the news, leaving the community eagerly awaiting official announcements.

Terra Luna Classic community in turmoil

The delisting of the LUNC comes hours after Terraform Labs filed for Chapter 11 bankruptcy protection in the US and the ensuing LUNC price drop has fueled a dilemma among holders, torn between selling their holdings and awaiting official confirmation from Crypto.com.

Despite inquiries from the Terra Luna Classic community, Crypto.com’s response to the delisting confirmation has left many questions unanswered. While acknowledging the news as valid, the exchange provided limited details, leaving investors in the dark about the extent of the impact and the jurisdictions affected. The absence of an official announcement on Crypto.com’s official channels has added to the fear, uncertainty, and doubt (FUD) surrounding LUNC and LUNA prices. Investors are now eagerly anticipating clear communication from the exchange’s executives.

Although Terraform Labs, associated with Terra Classic, filing for bankruptcy protection in Delaware is thought to add to the complexities, the company expresses its commitment to continue working on its goals while navigating legal hurdles.

Nonetheless, the broader selloff in the market further compounds challenges for Terra Luna Classic, raising questions about the project’s future amid a dynamic and challenging environment.

The post Crypto.Com confirms Terra Luna Classic (LUNC) delisting appeared first on CoinJournal.

• Alameda Research, an affiliate of bankrupt crypto exchange FTX has dropped its case against Grayscale.
• The lawsuit’s dismissal comes as Grayscale’s GBTC sees huge outflows following SEC’s spot Bitcoin ETF approval.

Alameda Research, the collapsed crypto trading arm of bankrupt cryptocurrency exchange FTX, has dropped its lawsuit against Grayscale Investments. Reuters highlighted Alameda Research’s move to drop the case in a report on Monday.

Alameda Research drops Grayscale lawsuit

The FTX affiliate filed its lawsuit against Grayscale in March 2023 and alleged that the GBTC issuer had enriched itself at the expense of its shareholders.

Alameda Research’s lawsuit came before Grayscale’s eventual victory over the US Securities and Exchange Commission (SEC), with the legal milestone setting in motion the events that led to SEC’s approval of several spot Bitcoin ETFs, including Grayscale’s Bitcoin Trust (GBTC).

With the approval and conversion of GBTC into a spot ETF, Grayscale investors have been able to redeem their shares. In its lawsuit, Alameda claimed that the digital asset manager, which also seeks to convert its Ethereum Trust (ETHE) into a spot Ethereum ETF, charged high fees and wasn’t allowing redemptions.

The approval of GBTC as a spot Bitcoin ETF has addressed the redemptions issue, with Grayscale seeing a massive outflow since GBTC began trading on January 11, 2024. On Monday, the company reportedly sent 15,308 BTC worth over $623 million to Coinbase Prime.

Grayscale deposited 15,308 $BTC($623.8M) to #CoinbasePrime again 50 mins ago.

Since the ETF was passed, #Grayscale has deposited 63,991 $BTC($2.68B) to #CoinbasePrime during the opening hours of U.S. stocks (14:30 UTC).

According to Arkham, #Grayscale currently holds 549,116… pic.twitter.com/i1LtKryu6W

— Lookonchain (@lookonchain) January 22, 2024

With over 63,000 BTC sold since, one of the likely sellers could be the FTX estate, given it has offloaded several assets in the past few weeks.

Bitcoin price has struggled amid the BTC dump, reaching lows of $40,367 on Monday, January 22, 2024.

The post FTX’s Alameda Research drops lawsuit against Grayscale appeared first on CoinJournal.

• Option2Trade (O2T) is a new AI and Web3 social trading platform for crypto, Forex, stocks and commoditities.
• The O2T presale is gaining momentum as investors eyeing best tokens under $1 flock to its presale.
• dYdX and Polygon are also showing bullish signs, but investors are showing great confidence in O2T.

Crypto investors are turning to new crypto gems as they look to ride the most of the upcoming bull market. Option2Trade (O2T), an AI-driven social trading platform currently in its presale phase, stands out as one of the top tokens under $1 in the market. 

Is this altcoin set to challenge coins such as dYdX (DYDX) and Polygon (MATIC)?. Here’s more about Option2Trade.

Option2Trade: The new AI social trading platform set to dominate market

Amid the growing crypto investing market, new platform Option2Trade (O2T) is looking to bring a new age where traders can tap into the power of artificial intelligence (AI) to power their investing experiences.

A licensed trading platform, Option2Trade allows users to leverage AI and Web3 social trading algorithms, integrating cryptocurrency with the robust technology that powers markets across FX, stocks, and commodities among others.

The project’s launch of its O2T token presale is one more step as the platform seeks to dominate the leverage and margin trade. The O2T token is the native utility token that will allow holders to participate in the governance of the Option2Trade ecosystem.

Holders will also tap into the token’s integration as a transactional currency, accessing opportunities not just across decentralized finance (DeFi), but also gaming. Staking and an NFT marketplace are also key features of this platform.

dYdX and Polygon: MATIC and DYDX outlook

Option2Trade’s is well-positioned as one of the top platforms set to disrupt the traditional exchange and trading market ecosystem via AI and Web3. Could O2T be a more appealing buy today compared to dYdX and Polygon? A look at what Polygon (MATIC) and dYdX (DYDX) are first.

Polygon stands out as an Ethereum scaling solution, with its technology key to the ecosystem across standalone chains, Optimistic Rollups and ZK Rollup chains among other applications.

dYdX (DYDX) is the native token of dYdX Chain, a decentralized exchange (DEX) protocol that briefly overtook Uniswap as the largest DEX by 24-hour trading volume. As of January 22, dYdX Chain was seeing a significant bump in its DEX volumes (dYdX v4 is second behind Uniswap v3, while dYdX is fourth).

What’s the market outlook for MATIC and DYDX?

MATIC price remains in a downtrend since hitting its all-time high in December 2021. The token is poised at $0.77, down 23% in the past year and more than 73% off its ATH. 

DYDX meanwhile trades around $2.86, down from its December 2023 peak above $3.73.

For investors looking for a potentially profitable investment in 2024, both Polygon and dYdX could be good buys under $1 and under $5 respectively. But investors seeking even greater opportunities in the presale market are flocking to Option2Trade’s O2T presale.

Is Option2Trade (O2T) the best altcoin under $1 to buy today?

Option2Trade’s potential to disrupt the market is showing as O2T presale attracts massive attention from across the cryptocurrency space.

Currently in stage 1, the project has sold over 38 million O2T tokens. Early adopters have so far allocated more than $215 million to O2T as they look to take advantage of the current presale price of $0.007. The attractively low price and the potential for Option2Trade to take the crypto market by storm makes joining the presale today a great chance.

Given this outlook, O2T could be one of the best under $1 tokens to buy in 2024. 

Learn more about Option2Trade here.

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