DeFi

Ethereum Price Forecast As DeFi TVL Rises to $57 Billion, ETH Poised to Gain $4,000 This Week?

Published

9 months ago

7 May, 2024

Ethereum Price Forecast As DeFi TVL Rises to $57 Billion, ETH Poised to Gain $4,000 This Week?

Ethereum Price Forecast: ETH is approaching its highest level in just over a week, alongside a strong rebound in the crypto from last week’s low. Bitcointhe largest cryptocurrency, maintains the bullish outlook approaching the $65,000 mark.

Major altcoins like Binance Coin (BNB), Solana (SOL) and XRP are also in the green, rewarding patient investors. Nonetheless, the market slump cannot be ignored, especially in light of the many internal and internal factors at play.

Externally, soaring inflation is a hindrance to risky asset classes like crypto. Recently, the Federal Reserve left interest rates unchanged amid persistent inflation in the United States since January.

The outlook for the first rate cut of the year has changed as the Fed struggles to bring inflation back to 2%. Experts predict the first-order reduction could come later in the year, rather than in June.

Current Ethereum price predictions show the leading smart contracts token hovering at $3,122 on Monday, down a modest 0.5% in 24 hours. Ranked #2 in the market, Ether boasts $374 billion, a value backed by $10 billion in trading volume.

Ethereum Price Forecast: Does DeFi TVL Impact ETH Technical Outlook?

According to the data processed and presented graphically by Lama DeFi, the cumulative value of all assets locked in smart contracts within the ecosystem is on the move again, amounting to $57 billion. While that figure is a pale shadow of the record $109 billion, continued increases reduce potential selling pressure.

Ethereum DeFi TVL | Lama DeFi

Investors demonstrate confidence in the long-term value of a coin by staking their holdings to grow their portfolio. Staking rewards are distributed daily on an annualized basis, allowing the community to participate in processing transactions and securing the network.

A high total value locked (TVL) reduces circulating supply and, therefore, potential selling pressure. Sentiment is also improving, encouraging more people to buy ETHthus supporting the token for gains.

Can Ethereum hit $4,000 in May

Investors are holding tight to their positions as the crypto market rebounds in May. April ended several months of a bullish streak that began in the fourth quarter of last year. Major cryptocurrencies have woken up strongly this week, aiming for higher levels this week and a rally to $4,000 before the end of May.

The bullish bet on Ethereum Price depends on the descending wedge observed on the daily chart. Although it is an uptrend, it remains unconfirmed until the price breaks above the upper trendline.

Traders activate their buy orders following this breakout and anticipate a move equal to the distance between the widest points of the wedge – approximately 25%.

Ethereum Price Prediction Chart | Commercial view

On the sell side, traders cannot ignore the Relative Strength Index (RSI) position at 46. A close look reveals that the indicator is stuck below trendline resistance. If this trend continues, selling pressure will be a time bomb.

Ethereum price is also below two bull market indicators; the 20-day exponential moving average (EMA) and the 50-day EMA. Bulls need to reclaim these two key levels to validate their strong hold on the uptrend.

Otherwise, there is a glaring possibility of another sweep of the $3,000 and $2,800 support zones to collect more liquidity.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

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Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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