Altcoins

Analysis of crypto VELO, BABY BONK and other trending altcoins

Published

9 months ago

11 May, 2024

In this article, we explore two cryptocurrencies from the BSC ecosystem that have been making headlines in recent days: the altcoins Velo Protocol (VELO) and Baby Bonk (BABYBONK).

Let’s see what other hot topics could provide speculative opportunities in the market.

Meanwhile, Bitcoin Dominance is showing signs of weakness, anticipating the long-awaited “alt season” that could arrive in the coming months.

Let’s see all the details below.

Altcoin: Prices and latest crypto news VELO and BABY BONK

Among the cryptos that have attracted the attention of investors within the B.S.C. ecosystem, we find the two projects Bike Protocol (BICYCLE) and Baby Bonk (BABYBONK).

In order, we can see how Velo, which represents a financial platform for issuing crypto credits anchored in fiat currencies and covered by collateral in VELO tokens, recently joined forces with the on-chain data indexing project . The graphic.

This will enable much more efficient data accessibility for the protocol and simplified access for external dapps.

Introducing a revolutionary collaboration in the world of blockchain and Web3!

Velo and The Graph come together to power data-driven innovation 🤝🏻🚀

Velo is revolutionizing digital finance with secure and transparent blockchain transactions, while The Graph transforms the way… pic.twitter.com/nifUgJQJu6

– Velo official (@veloprotocol) May 9, 2024

Regardless, the VELO altcoin is the real protagonist of this project: Since March, when the entire market was bearish, with Bitcoin losing the $70,000 threshold, this coin has shown its full bullish potential.

Over the past week, it has been so targeted for trading that it was voted the best crypto of the week on the market. Kucoin exchange.

Looking at the VELO-USDT chart, we can immediately see how much the bulls are in control of the situation, with prices breaking away from the 50 EMA daily since mid-April, accelerating the current upward trajectory.

Over the past week, VELO has increased by approximately 40%, flying above 0.028.

From March 1 to today, this altcoin has seen a parabolic 450% price increase. THE historical maximum is unfortunately still far away, fixed at around 2.36 dollars.

Will pass Baby Bonk, a memecoin in the BSC landscape which is inspired by the famous token BONK originating from the Solana blockchain.

The news that is certainly causing a sensation for this project is the planned listing on a CEX on May 13. BABY BONK had reached a trading volume of $15 million in the previous days and is now ready to be welcomed among another exchange’s exchanges.

At the moment, this altcoin is only tradable on Gate.io, MEXC, Bitget and PancakeSwap.

Also worth noting is the strength of this memecoin’s community and the team’s willingness to invest in marketing to make their token known to the world.

Recently a A partnership has been concluded with one of the most well-known crypto influencers onSibel“, who, in the past, has helped advance many projects Solana.

Graphically, BABY BONK does not seem to match the strength of VELO, but still presents an upward outlook, with a price development that in recent months has gone against the trend of the rest of the market.

In particular, from the end of February to March 11, this crypto recorded a price growth of 1075% only to lose 80% the following month.

Starting May 1, it once again recorded unusual increases with a 200% performance in just one week, attracting much more attention than the rest of the altcoin landscape.

We will now see if BABY BONK will start attacking new highs again or return to the pre-pump price zone, thus ending its hype moment.

Source:https://www.dextools.io/app/en/bnb/pair-explorer/0xf2b4c08e43f389190372a80c83655cb8ce0c2f94?t=1715324457207

Other trending altcoins

Other trending altcoins that have seen their prices increase over the past month, outperforming Bitcoin, include mainly cryptocurrencies from AI sector and some memecoins.

We particularly highlight the achievements of NEAR, AR, AIOZ, AKT, RNDR, PEPE and BONK.

Good figures also for the Hedera Hashgraph network (HBAR) and for the “real world assets” project Ondo Finance (ONDO) that show double-digit percentage increases in 30 trading days.

The surge in AI altcoins is mainly linked to the positive numbers reported by the microchip giant. Nvidiawhich, along with quarterly data, boosted the growth of speculative stock and crypto markets.

On the memecoin front, it is worth noting the launch of the DOG meme within the Runes ecosystem immediately after the halving, which could have brought more attention to this market niche.

During the same period analyzed, BTC lost around 9%, while ETH went even further, marking a 14% decline.

baby bonk bike altcoin crypto

Looking at the Bitcoin dominance chart, we can identify an area that has been marked as a local top, namely the 57% hit by a peak in mid-April.

From there, a slight decline in this metric began, paving the way for the positive performance of several altcoins.

Now, Bitcoin’s index of dominance over the rest of the market is poised to test the 50-period exponential moving average support on the daily time frame.

If it falls below this threshold, it could drop to around 53%, allowing for even greater bullish movement in altcoins.

Before officially entering the other season, however, it will still be necessary to go below 48%. Be careful not to take for granted that this phase will come immediately because another BTC rally could occur in the meantime, involving all the capital surrounding it.

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Related Topics:altcoin baby bike crypto damn it

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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.

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Altcoins

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

Published

6 months ago

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Altcoins

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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.