Crypto news

Instead of debating block size or layer-2 solutions, we’re stuck in a soap opera about whether Zcash is a harmless rival or a distraction worse than a TikTok algorithm. 📱

Enter our dear analyst, Ali Martinez, who’s been staring into his blockchain tea leaves and swearing on the idea that Ethereum is headed for a quaint little holiday at around two grand. Now, these on-chain mumbo jumbo, called MVRV Pricing Bands – quite the mouthful – are basically fancy tools telling us when ETH is a good buy, a fair price, or just plain overvalued. It’s as if the coin is saying, “Hey, I’m undervalued now – buy me, before I go even cheaper!”

Behold, the XRP, that enigmatic phoenix of the crypto realm, has ascended by a modest 7% since yesterday’s twilight. Yet, in the grand tapestry of the week, it has plummeted by 10.44%, a fall as graceful as a drunkard descending a staircase. 🥴

Ripple Is Quietly Building a JP Morgan Rival 🏦

The weekly tally? A paltry 46,597,909 SHIB, while the daily burn drowses at 1.3 million-a drop so minuscule, one might think the tokens are napping! 😴 The supply now stands at 589,246,313,129,194, a number so long it makes my quill weep. From a quadrillion, they say? Ah, but what is a quadrillion to a man with no wallet? 💸

This insightful dispatch comes courtesy of Theminermag, the premier publication for those brave souls who still believe mining is a sport-and perhaps a quaint hobby-amidst the chaos of institutional dabbling and ever-volatile digital gold.

Now, don’t you just love a good contrast? A bloodbath in the market, but lo and behold-green ETF columns, like little rays of sunshine poking through the gloom. This spectacle arrived precisely as the weekly BTC chart reached that magical zone traders have been tracking ever so diligently since the first quarter of the year. Bitcoin has made a valiant 32% retreat from its once lofty $129,000 peak, landing itself somewhere between $86,000 and $80,600. It’s almost like watching a drama unfold-who needs Netflix when you have this, right?

Behold, the key to investment’s alchemy lies not in mere governance or utility, but in the token’s ability to siphon value for its holders-like a well-tended garden, not a barren field. 🌱

Analysts, those modern-day prophets, have outlined the next moves and the most important support and resistance lines. One can only hope they’re not prophesying their own demise. 🕯️

Wedson believes that every major altcoin bull run has been fueled by a large influx of new money. He points out that between 2020 and 2022, crypto and Web3 companies received billions in funding, which then spread throughout the market. He argues that without this significant investment, it’s much less likely to see altcoins rise together in a coordinated way.