Altcoins

3 Heavily Liquidated Altcoins to Sell Now

Published

7 months ago

4 July, 2024

3 Heavily Liquidated Altcoins to Sell Now

The recent trading day saw significant losses for traders, with 59,370 facing liquidations, representing a cumulative loss of $170.64 million. Ethereum, Solana, and Binance Coin, the altcoins to sell, saw significant market corrections. The largest single liquidation order occurred on OKX – ETH-USD-SWAP, valued at $4.00 million. These cryptocurrencies are showing signs of slowing down, indicating potential risks for investors.

1. Altcoins for Sale – Ethereum (ETH)

Ethereum (ETH), a key player in the Proof-of-Stake blockchain space, stands out for its smart contract technology. This allows it to serve as much more than just a digital currency platform, unlike Bitcoin and Solana, which focus primarily on payments.

Ether is essential to the functioning of the network. It powers transactions and rewards nodes that perform complex computations, underscoring the platform’s focus on practical applications.

There has been a noticeable increase in activity around

Decentralized Finance (DeFi) on Ethereum. This surge has led to record levels of investment, with the total value locked (TVL) in these protocols reaching unprecedented levels. This growth highlights the dynamic nature of Ethereum and solidifies its critical role in the digital currency space.

Currently, Ethereum is trading at $3,312, with a trading volume of $13 billion in the last 24 hours. Although there has been a slight decline of 3% since yesterday, its market capitalization remains solid at $398 billion.

Ethereum Price Chart

Ranked second on CoinMarketCapEthereum has seen its value decrease by 12% over the past month. However, it is up 68% year-over-year.

In terms of market activity, $44 million worth of positions were liquidated in the last 24 hours, with long positions accounting for $38 million and short positions accounting for $5.70 million. This marks a period of significant liquidations, especially for altcoins.

2. Solana (SOL)

Solana (SOL), a leading blockchain network, continues to capture attention with its high-speed transaction capabilities and robust platform. Layer 1 The technology has gathered a vast community, which is reflected in its thriving ecosystem and the rise of developers creating decentralized applications. The platform’s innovative features have significantly boosted investor confidence.

Solana Price Chart

Despite recent market slowdowns, Solana Price Solana has maintained a stable price, currently at $142, which is down 4% from the previous day. Over the past year, its price has increased from $20 to its current level, showing a remarkable growth of 643%. Currently ranked fifth on CoinMarketCap, Solana has a market capitalization of $65 billion.

Recent data shows significant market activity, with $11.10 million in liquidations over the past 24 hours, including $8.54 million from long positions and $2.56 million from short positions.

3. Binance Coin (BNB)

Binance Coin (BNB) is a key asset within the Binance ecosystem, operating on both the Binance Chain (BEP-2) and Binance Smart Chain (BEP-20). The high trading volumes on Binance highlight its important role. Additionally, it supports the operation of the exchange’s dual blockchain structure.

Notably, the BNB chain is the leading blockchain. It is home to many of the leading decentralized applications on the market. Recently, Coinbase expanded its asset recovery tool to include support for the BNB Chain and Polygon networks. This expansion has paralleled an upward trend in Bitcoin’s market cap.

However, Binance Coin has recently shown a downward trend in its price. It has fallen below the $580 resistance level, currently trading at $557. This represents a drop of more than 3% in its price. Over the past week, it has decreased by 3% and by 10% over the past month.

BNB Price Table

Over the past 24 hours, BNB experienced notable liquidations. The total was approximately $1.02 million, with long positions representing $1.01 million and short positions representing approximately $12.5 thousand. Coingalass data. This positions BNB among the altcoins experiencing significant liquidations, suggesting a cautious approach for traders.

Conclusion

Given the significant liquidations and corrections taking place in the market, investors are advised to consider selling Ethereum, Solana, and Binance Coin. Monitoring these trends is essential to make timely decisions in a volatile market.

Frequently Asked Questions (FAQ)

Liquidations occur when a trader’s position is forcibly closed by the exchange because the market has moved against them and their account balance is insufficient to maintain margin requirements.

Liquidations can have a significant impact on market volatility. Large-scale liquidations can result in sharp price declines when positions are closed.

Traders can reduce liquidation risk by using lower leverage, maintaining adequate margin balances, using stop-loss orders to limit potential losses, and closely monitoring market conditions to adjust positions if necessary.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.