Schlagwort: crypto business

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JUP price rallies as Jupiter Lend public beta launches with $2M rewards

  • Jupiter releases Lend in public beta with $2M in incentives and over 40 vaults.
  • The addition introduces higher borrowing limits and simplified earnings with reduced liquidity risks.
  • Native JUP has turned bullish following the announcement.

While most cryptocurrencies traded with unclear trajectories on Wednesday, Jupiter Exchange’s native token led the upside with a 6.99% uptick on its daily chart.

The altcoin turned green after the DeFi ecosystem confirmed the Jupiter Lend public beta launch.

Termed as “the most advanced money market on Solana,” the new functionality comes after weeks of development with Ethereum-based developer 0xFluid.

The beta launched with more than 40 vaults and over $2 million in incentives.

After weeks of testing, audits, and feedback, we’re launching with 40+ vaults and $2M+ in incentives from Jup, Fluid, and partners.

Jupiter Lend aims to transform how users borrow, lend, and maximize returns in the cryptocurrency world.

Simplified participation will likely enrich Jupiter’s DeFi landscape.

The exchange’s native token extended its daily recoveries after the announcement.

It has gained 6.99% on its 24-hour timeframe to press time’s $0.4980.

Built with proven expertise

The partnership has marked the first time two renowned DeFi teams from diverse ecosystems have converged to launch a blockchain protocol.

While Jupiter brought its Solana-native know-how, 0xFluid leverages its 7-year experience in building Ethereum-based money markets to provide an advanced liquidation and lending infrastructure.

Besides user benefits, the launch has attracted attention as it marked the first time two teams from different ecosystems have teamed up to launch a protocol that promises fairness for borrowers and simplicity for lenders.

Jupiter’s team highlighted:

For the first time, two top-tier DeFi teams from two different ecosystems are joining forces. Lend was built together with 0xFluid – a team that has spent 7 years perfecting money markets on Ethereum. We’ve worked together for months to build a Solana protocol that is simpler for lenders and better for borrowers.

Meanwhile, the platform opened Jupiter Lend to the public after months of collaborative development.

Multiple users participated in stress testing, whereas Offside Labs and Zeninth256 performed audits.

JUP’s new utility as a collateral asset

The new feature has enriched JUP’s use cases. The platform confirmed that users can deposit the native token as collateral.

That means individuals can borrow stablecoins like USDC against their JUP holdings while bolstering the ecosystem’s growth.

Such a move reflects the exchange’s emphasis on boosting the community token’s utility as the central asset for the blockchain.

JUP price outlook

The native coin soared nearly 7% over the past 24 hours to $0.4980.

JUP remains poised to extend its rally in the short term as upside sentiments surface.

Buyers are targeting price levels above $0.54.

However, improved trading volumes remain paramount to support sustained rallies.

Also, decisive momentum shifts in the broader market are crucial for JUP’s trajectory in the upcoming sessions.

The post JUP price rallies as Jupiter Lend public beta launches with $2M rewards appeared first on CoinJournal.

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Bitcoin Cash price forecast: BCH bounce back confirmed, $600 in view

  • The Bitcoin Cash (BCH) price has rebounded from $533, regaining bullish momentum above key supports.
  • Whales are driving activity as retail participation stays near multi-year lows.
  • A break above $572 could open the path toward $600 and beyond.

Bitcoin Cash (BCH) has clawed back from recent lows, reigniting optimism that the cryptocurrency could soon test the $600 mark.

After sliding to $533.34 on August 26, BCH rebounded more than 3% in 24 hours, a move analysts say confirms a near-term bottom and signals momentum may be shifting back to the bulls.

Bounce restores confidence

The quick recovery followed weeks of consolidation that had dampened enthusiasm around Bitcoin Cash.

The sharp rebound suggests buyers are once again stepping in at key levels.

Technical signals point to renewed strength, with a hidden bullish divergence on the daily RSI indicating momentum buildup beneath the surface.

BCH continues to trade within a bullish ascending channel, though resistance near $572 remains a critical test.

According to market analysis, an hourly close above that barrier could confirm a breakout, potentially accelerating gains.

Retail activity mutes as whales step in

On-chain data shows that whales were in an accumulation spree during the downturn, with whale transactions worth $482 million on August 7 — the biggest spike since early July.

Notably, large holders often move ahead of rallies, and a similar wave of activity preceded a 75% surge in July.

However, activity among smaller players remains subdued.

The daily active BCH addresses hover near six-year lows at about 19,000, highlighting weak organic adoption.

This divergence suggests speculation, not retail demand, is driving current moves.

Sustained whale inflows will be key in determining whether momentum carries forward.

The key resistance and support levels in focus

Looking at the BCH price chart, the cryptocurrency must hold above $544.23 to maintain its upward bias.

In addition, a break above $569.77 could pave the way to $595.84 and even $638.56, with Fibonacci targets at $607 and $664 adding weight to the bullish case.

Sharky, a well-followed trader, believes BCH could mirror its June rally, when it surged shortly after Bitcoin.

He highlights a 74-week trend break retest that he says points to a strong long-term setup.

AltWolf, another crypto analyst, highlights the formation of a double top pattern, noting Bitcoin Cash has lost the four-hour 200 EMA and broken below a multi-month uptrend channel.

He argues it may be premature to stay bullish given the weakening structure.

According to analysts at CoinLore, losing the $544.23 support could trigger a retreat toward $527.41 with the chance of an even deeper slide that might bring the July swing low of $516 into play, threatening the broader bullish channel.

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Litecoin price forecast: what next as LTC drops to key support?

  • Litecoin trades near $112, just in the green on the day but at risk of fresh losses.
  • The LTC price hovers at key support level as bulls attempt to hold bears off.
  • Bullish crypto market and catalysts such as spot Litecoin exchange-traded funds could help LTC go higher.

Litecoin (LTC) is trading at $112, about 2% up in the last 24 hours, but in the red over the past week and month time frames.

Meanwhile, the 24-hour trading volume of $694 million is more than 22% down on the previous day as top altcoins look to bounce.

As LTC price drops towards the $110 level, can bulls hold onto gains or is the altcoin poised for a revisit of the psychological $100 mark and lower?

Litecoin price forecast: Is LTC set for a revisit of $90 next?

Litecoin price has broken below the middle line of an ascending channel pattern. Price at $112 suggests a broader crypto pullback could accelerate LTC’s dip to support at $100 and possibly to $90.

The technical indicators on the daily chart support a likely flip lower, with RSI and MACD giving sellers the upper hand.

Litecoin Price
Litecoin chart by TradingView

Open Interest has also dropped slightly, down to $994 million from the record highs of $1.27 billion hit recently as LTC spiked.  OI in Litecoin futures does notably remain higher than the lows of $800 million seen in early August.

A break above $120 could thus allow bulls to test the upper channel barrier near $140 and aim for the psychological $200 mark.

While the Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover from mid-August and prints red histogram bars, a mixed setup has other indicators signaling potential resilience.

For instance, the Relative Strength Index (RSI) on the daily chart sits at 46, but is upsloping to suggest buyers could keep off a fresh dip towards the oversold territory.

If RSI pops above the neutral point of 50 and market conditions align, LTC could see the above scenario play out.

What could help Litecoin price higher?

Network growth, including a significant hashrate spike, suggests confidence in the proof-of-work coin.

This and market sentiment point to a scenario where bulls ride the overall crypto uptick in the coming months to drive higher.

The upcoming approval of spot ETFs, with Litecoin among those with notable high odds of a nod, add to this outlook.

In this case, the SEC’s October 2025 decisions on spot Litecoin ETFs from Grayscale, Bitwise, and CoinShares, which carry a 90% approval probability, per Bloomberg analysts, could be huge catalysts.

Experts say a SEC approval for LTC spot ETFs could drive institutional inflows of up to $500 million in Litecoin at launch, printing the trajectory that saw Bitcoin’s price rally to new highs in early 2024.

The post Litecoin price forecast: what next as LTC drops to key support? appeared first on CoinJournal.

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XRP eyes $3.7 as momentum indicators show fading bearish signs

Key takeaways

  • XRP has reclaimed the $3 mark after adding nearly 3% to its value on Tuesday.
  • The momentum indicators are showing fading bearish signs, with a bullish run expected to follow.

XRP tops $3 as broader market shows early signs of recovery

The cryptocurrency market had a poor start to the week but is now showing early signs of recovery. Bitcoin is trading above $111k after adding 1% to its value, while Ether has topped $4,600 as it is up 4%.

XRP, Ripple’s native coin, is not left behind as it has recaptured the $3 psychological level after rallying by more than 3%. The coin could rally higher in the coming hours and days as the bullish momentum continues.

This latest performance comes as CME Group revealed that its crypto futures suite has surpassed $30 billion in notional open interest for the first time. According to CME Group, the SOL and XRP futures each crossed $1 billion. XRP became the fastest contract to hit the milestone, doing so in just over three months.

Institutional adoption continues to support XRP’s price, and this could push it higher over the coming days and weeks. 

XRP targets $3.7 as bullish momentum surfaces

The XRP/USD 4-hour chart remains bullish as XRP rallied by nearly 3.5% in the last 24 hours. The Ripple native coin dipped by over 5% on Monday and closed below its 61.8% Fibonacci retracement level at $2.99.

It has now recovered and is trading above the $2.99 support level. The RSI of 54 shows that the bullish momentum is growing, while the MACD lines have also crossed into the positive territory. 

XRP/USD 4H Chart

If XRP continues its recovery, it could push higher and target its next daily resistance at $3.40. An extended bullish run would allow XRP to surpass its yearly high of $3.66, with the all-time high price of $3.8 its next target. 

However, if XRP faces a correction, it could dip below $2.99 and target the next key daily support at $2.72.

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XRP Open Interest declines 30% as price consolidate below $3

  • XRP futures OI falls 30% to $7.7B as price slips from $3.66 peak to $2.98.
  • Whale inflows signal selling pressure, keeping XRP near $3 support zone.
  • Analysts see long-term uptrend intact, with 2025 targets above $5 still viable.

XRP futures open interest (OI) has fallen sharply over the past month, highlighting a reduction in speculative positioning as the cryptocurrency consolidates below the $3 mark.

While the decline raises caution over near-term momentum, historical trends suggest the cooling leverage environment could offer opportunities for accumulation.

Open Interest retreat signals cooling speculation

According to derivatives data, XRP’s futures OI has dropped by 30% over the past month, falling to $7.7 billion from $11 billion.

This pullback has coincided with spot prices retreating from a recent peak of $3.66 to $2.98.

A decline in open interest often reflects waning speculative activity, with traders either taking profits or reducing exposure due to uncertainty.

This is not the first time XRP has seen such a sharp reset.

In Q1, open interest dropped 65%, plunging from $8.5 billion to $3 billion, while spot prices fell more than 50%.

The current trend, while less severe, mirrors that earlier setup, raising the prospect of traders re-engaging once OI finds a new base.

On the technical front, XRP has a daily fair value gap between $2.33 and $2.65, which analysts highlight as a likely demand zone if open interest continues to ease.

Historically, moderating leverage has preceded stabilisation periods or accumulation phases that pave the way for fresh rallies.

Controlled leverage flush reduces risk of cascading selloffs

Despite the pullback, liquidation data suggests that market stress remains contained.

Only $22 million in long positions were liquidated on Monday, with $56 million in liquidations during the 6% correction on August 14.

Compared with prior episodes of sharp selloffs in overheated conditions, these figures reflect a relatively controlled leverage reset.

The limited liquidations reduce the risk of cascading sell pressure that can exacerbate declines in volatile markets.

This controlled backdrop offers a degree of resilience, supporting the case that XRP may find a price bottom in the near term.

If the $2.33–$2.65 support zone holds, traders could interpret the current leverage unwind as constructive rather than a sign of deeper structural weakness.

Whale inflows pressure near-term outlook

While open interest has cooled, on-chain data signals potential headwinds from large holders.

According to CryptoQuant, XRP’s rally to $3.66 was accompanied by significant inflows to exchanges, with the heaviest activity coming from whale wallets holding 100,000 to 1 million XRP.

Historically, such spikes in whale inflows have preceded major market tops, including levels above $3 in 2018, $1.90 in 2021, and $0.90 in 2023.

Currently, XRP is consolidating just below $3 while exchange inflows remain elevated, indicating sustained selling pressure from large investors.

If this pattern persists, downside risks toward the $2.6 support zone may materialize.

However, analysts note that a strong defense of the $3 threshold would underscore market resilience and potentially set the stage for a renewed bullish push.

Structurally, XRP’s broader uptrend remains intact.

Compared with past cycles, the cryptocurrency is positioned in a stronger technical environment, with long-term targets above $5 in 2025 still achievable despite near-term volatility.

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