Schlagwort: crypto business

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SUI price prediction: SUI dips 5% amid heavy selling pressure

Key takeaways

  • SUI is down 5% in the last 24 hours, dropping below the $4 mark.
  • The broader market is facing heavy selling pressure, with BTC now below $119k.

Altcoins suffer huge losses

The cryptocurrency market is having a bearish start to the week, with major coins and tokens currently in the green. Bitcoin, the leading crypto by market cap, is down by over 2% and has dropped below the $119k level after hitting $122k over the weekend.

Ether has maintained its price above $4.200 as it remains the strongest altcoin, while XRP is trading around $3.15, down 3.6% in the last 24 hours. 

SUI, the native coin of the Sui blockchain, has lost 5% of its value, a similar average to other leading altcoins. It has now dropped below $4 and currently trades at $3.6846 per coin. The bearish performance comes amid heavy selling pressure in the market.

Data obtained from CoinMarketCap shows that SUI’s open interest (OI) has dropped 15% to $1.79 billion. Furthermore. Funding rates, which affected the cost of holding leveraged long positions, declined to 0.0083%, down sharply from their July peak of 0.075%. 

These data show that traders are not eager to maintain bullish leveraged bets, suggesting a cooling in market sentiment.

The bearish performance also comes after Swiss digital asset bank Sygnum announced on Friday that it expanded its offerings to include custody, trading, and lending products tied to the Sui blockchain.

SUI could retest the $3.2 low if selling pressure persists

The SUI/USD 4-hour chart is bearish and efficient as the coin is currently underperforming. The efficiency suggests that SUI has grabbed liquidity to the upside and could drop further.

The RSI of 43 shows that SUI could enter the oversold region if the negative sentiment thickens. The MACD lines are also looking to crossover into the negative territory amid selling pressure.

SUI/USD 4H Chart

If the market conditions persist, SUI could drop to the $3.2 support level over the coming hours. The support could hold and allow SUI to bounce back in the near to medium term. However, failure to hold will see SUI test the July low of $2.65.

If the market conditions improve, SUI could reclaim the $4.0 weekend high before rallying towards $4.43. 

The post SUI price prediction: SUI dips 5% amid heavy selling pressure appeared first on CoinJournal.

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Chainlink price: LINK eyes new leg up amid ICE collaboration

  • Chainlink price traded around $21.47 on Aug. 11, 2% down from highs of $22.55 in 24 hours. 
  • Ethereum led top altcoins like Bitcoin Cash and BNB higher as it crossed above $4,300.
  • Chainlink’s partnership with  Intercontinental Exchange could be a key catalyst.

Chainlink (LINK) price has retreated 2% in the past 24 hours to trade around $21.47, slightly off its multi-week highs of $22.55.

This bucks the uptick for Bitcoin and top altcoins such as Ethereum, Bitcoin Cash and BNB. LayerZero also rose.

However, as the market digests the potential impact of its latest partnership with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), could Chainlink price embark on a new leg up to target the all-time high above $52?

Chainlink joins forces with NYSE parent ICE

The Chainlink ecosystem witnessed a major unveiling recently when the oracle networks platform launch Chainlink Data Streams for US stocks and ETFs. Traction for the solution has netted a major partnership as Chainlink collaborates with ICE.

According to a press release, the integration brings high-quality forex and precious metals rates from ICE’s consolidated feed to Chainlink’s Data Streams.

In short, ICE’s Consolidated Feed, which aggregates data from more than 300 global exchanges and marketplaces, has added FX and precious metals rates to the Chainlink Data Streams.

The move allows for the use of the solution to power over 2,000 applications, banks, asset managers, and infrastructure providers across the Chainlink ecosystem.

Benefits include growth in network activity – particularly in tokenized assets and products.

Leveraging ICE’s institutional-grade infrastructure means Chainlink adds to its traction in bridging traditional markets and the DeFi ecosystem.

“Using ICE’s Consolidated Feed data as an input into Chainlink’s derived FX and precious metals rates onchain via Chainlink’s institutional-grade infrastructure is a watershed moment in the evolution of global markets,” said Fernando Vazquez, president, capital markets at Chainlink Labs. “This collaboration signals a pivotal shift towards a unified, globally accessible onchain financial system, with hundreds of trillions in assets on a clear path to tokenization.”

LINK price outlook: Is Chainlink poised to mirror ETH?

Ethereum (ETH), which continues to experience significant price gains amid key institutional demand and treasury interest, trades near $4,300.

The ETH price gain has helped other altcoins higher, hitting highs of $4,363 as Bitcoin Cash, Uniswap, Monero, and BNB rose.

LINK showed similar movement as it rose sharply from lows of $15.60 this past week.

Bulls are signalling resilience with the price above $21, with technical outlook suggesting they could see a new leg up.

The ICE partnership among other integrations, point to real traction and a break to $30 could see Chainlink price target $50 and the altcoin’s all-time high above $52.

If LINK mirrors ETH’s trajectory, it might see a steady climb supported by growing tokenized real-world asset (RWA) markets. On the downside, LINK’s main support areas would be around $20 and $16.

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Toncoin outlook as Coinbase Ventures joins TON’s mission to supercharge crypto adoption

  • Coinbase Ventures is officially a Toncoin holder, representing a key endorsement of TON’s mission.
  • The Open Network aims to bring crypto to billions of users through Telegram.
  • Toncoin price flashed bullish sentiments following the revelations.

Most altcoins displayed weakness late on Monday as Bitcoin’s rising dominance dents the altseason narrative.

While BTC sets the market tone, the Ton Foundation announced a significant win for its global vision of making cryptocurrencies accessible to the masses.

The Foundation took it to X to announce that Coinbase Ventures is among the holders of its native token, Toncoin.

While it didn’t disclose the size of their allocation, the move reflects confidence in TON’s digital assets adoption ambitions.

Commenting on the development, the TON team perceives the gestures as:

Another strong sign of belief in our mission: bringing crypto to the masses through Telegram’s billions of users through real utility, real adoption, and real ownership.

The announcement has sparked debates within the Toncoin community, boosting sentiments among holders.

For The Open Network, the investment represents a partnership that could unlock mainstream recognition and global adoption.

The native coin reflected the prevailing optimism with minor price jumps despite a bearish bias in the broad market.

Bringing cryptocurrencies to the masses

TON has a simple and ambitious objectives, which have drawn industry leaders like Verb Technology.

It looks to make crypto part of our day-to-day activities.

The team aims to leverage Telegram’s nearly 1 billion users to create a venue where transferring digital assets is as easy as sending messages.

The Open Network removes daunting technical barriers and complex onboarding processes, focusing on real-world utility integrated within an application that people use daily.

Meanwhile, Coinbase’s support matters for the project.

Coinbase Ventures is among the dominant names in the cryptocurrency sector, known for backing projects that grow into industry leaders.

Coinbase Ventures’ involvement boosts brand exposure, attracting exchange integration and elevating assets’ appeal to retail and institutional investors.

Thus, TON could benefit from increased market reach, strategic connection with Western investors, and attention in the international cryptocurrency conversation.

Toncoin’s team said:

As one of the most recognized investors in the Web3 space, Coinbase Ventures, joining the growing list of Toncoin holders is a major vote of confidence in the future of The Open Network.

Notably, Coinbase Ventures joins other early supporters – Benchmark, Ribbit Capital, and Sequoia Capital.

These companies have gained prominence for spotting lucrative projects long before they attain mainstream recognition.

Toncoin price outlook

The alt trades at $3.37 after gaining 1.7% in the past 24 hours.

Toncoin displays resilience as bearish tendencies dominate the crypto sector.

While continued broad market declines could erase Toncoin’s latest gains, Coinbase Ventures’ support indicates trust in the token’s long-term potential.

Most importantly, developments like these reveal which projects to track amid bull runs.

Toncoin’s current price places it beneath the crucial 0.618 FIB resistance.

The area has historically catalyzed significant trend reversals.

Surpassing this hurdle could trigger gains towards $5.0 – $5.5 and towards all-time highs above $8.

However, failure to hold above the support barrier at $3.0 might herald price dips to the $2.20 foothold.

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Test (TST) price turns bearish as developer liquidates entire holdings

  • A developer wallet has sold TST worth $30,400 in four transactions.
  • The participant has fully exited his TST position, sparking concerns among the community.
  • Data shows the alt’s open interest plunged 6.15%, highlighting emerging bearish sentiments.

Digital tokens performed well on Monday as the cryptocurrency market capitalization reclaimed $4 trillion, with Bitcoin surpassing $122,000.

While Ethereum’s jump past $4,300 renewed the altseason narrative, Test’s (TST) momentum weakened as transactions involving its creator dented sentiments.

Gmgn data shows the investor dumped his entire TST stash within 12 hours, offloading assets worth around $30,400.

The wallet executed the sell-off in four different transactions, leaving the portfolio without Test tokens.

While the amount might not sound staggering in the cryptocurrency industry, it’s enough to dent confidence in niche and smaller-cap tokens like TST.

Market players often perceive a full exit by an insider or developer as a negative gesture.

The altcoin is already flashing bearish signals. It has lost around 1.40% in the past 24 hours despite broad market recoveries.

Also, data shows TST’s Open Interest has dipped by 6.15%, confirming that traders are closing existing positions.

Why the dump matters

Investors often view team and developer holdings as “trust anchors.”

If individuals who launched the asset still hold a substantial stake, it signals confidence in the project’s future.

However, the perceived confidence dwindles once they liquidate their entire holdings.

For the Test coin, the optics are challenging.

The remarkable 2025 surge to $0.52 materialized as the community misinterpreted Binance founder Changpeng Zhao’s tutorial as an endorsement.

CZ clarified that the Test was just an experimental coin for BNB Chain’s tutorial and not an investment vehicle.

He even confirmed that they had deleted the address used to create a token.

That meant no individual could interact with or alter the digital token anymore.

Thus, the sudden developer exit raised eyebrows.

Is it a calculated exit ahead of possible volatility or offloading assets left from tutorial days?

Bearish sentiments prevail

TST’s momentum has shifted to bearish following the developments.

Coinglass data shows its Open Interest plunged sharply by 6.15% after the sudden sell-off.

For context, Open Interest tracks the total outstanding perpetual swap or futures contracts.

A decline in this metric shows traders exiting positions without executing new ones, indicating increased caution or fading optimism.

Also, TST displays weakness on its daily price chart.

It has retraced to $0.02561 with a 30% increase in 24-hour trading volume, indicating increased activity from participants potentially closing their positions.

Test Token: a coin with zero purpose?

TST’s primary challenge is that it lacks real-world utility.

It was an experimental asset to show developers how to deploy tokens on the BNB Chain.

TST doesn’t power any NFT platform, metaverse project, or DeFi app.

However, even useless things can find a considerable following in the crypto world.

TST has over 16K followers on X. Players often treat these assets like meme tokens, waiting for hype to propel prices.

Meanwhile, the latest developer exit has tested the community’s optimism.

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Dogecoin price prediction: DOGE to rally to $0.3 if $0.22 support holds

Key takeaways

  • DOGE rallied by 16% last week to hit the $0.23 mark.
  • The leading memecoin could rally to the $0.30 psychological mark if market momentum remains bullish.

DOGE breaks above $0.20, targets new highs

DOGE, the native coin of the Dogecoin ecosystem and the leading memecoin, performed excellently over the last seven days. The coin added 16% to its value during that period, surpassing the $0.20 mark in the process.

At press time, DOGE is trading at $0.2344 and could be set to hit the $0.30 mark for the first time since February 2025. The rally comes as the broader cryptocurrency market recorded excellent gains over the past few days.

Bitcoin, the leading cryptocurrency by market cap, hit the $122k mark earlier today after adding 3% to its value over the weekend. Ether surged past $4,300 for the first time in four years and is now targeting the all-time high price of $4,891.

DOGE targets $0.3 amid bullish momentum

The leading memecoin could continue its rally as bullish momentum engulfs the broader market. The DOGE/USD 4-hour chart is bullish and efficient, suggesting that traders could be gearing up to push the price higher.

The MACD lines have crossed into positive territory while the RSI of 66 shows that buyers are currently in control of the market. If the market momentum persists, the DOGE/USD pair could cross the first major resistance level at $0.2865 over the coming hours or days. An extended bullish run would pave the way for DOGE to surpass the $0.30 mark for the first time since February 2025.

DOGE/USD 4H Chart

However, the market might show signs of exhaustion, resulting in a bearish trend. If that happens, DOGE could retest the first major support level and its 4H TLQ at $0.2208. Failure to hold this support level could see DOGE drop further towards the Break of Structure (BOS) around $0.2098.

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