Author: Benjamin Lee
A crypto strategist known for accurately calling the 2021 digital asset cycle top believes that altcoins are poised to witness a bounce. The analyst pseudonymously known as Pentoshi tells his 854,200 followers on the social media platform X that he’s accumulating crypto assets believing that the altcoin market is gearing up for a recovery. He says he’s keeping a close watch on the OTHERS chart, which tracks the total market cap of crypto excluding the 10 largest digital assets and stablecoins. “It’s kinda hard for me to be bearish in this range. We can still fill it out more of…
A memecoin launched on the BNB Chain put up massive gains after top global crypto exchange Binance rolled out support for it. In a new announcement, Binance says that it is adding support for Test (TST), a test token launched by the BNB Chain team for a tutorial video on how to create memecoins using its Four.meme launchpad platform. Amid the listing news, TST soared to an all-time high of $0.5113 from its low of $0.02607. The memecoin has since retraced. TST is trading for $0.1717 at time of writing, down 43.7% in the last 24 hours. With a market…
Donald Trump critic and SkyBridge Capital founder Anthony Scaramucci says Solana (SOL) is his preferred layer-1 over Ethereum (ETH). In a new interview with CNBC, Scaramucci says that while SkyBridge does own some ETH, his investment thesis focuses on SOL being more successful in the long run. “We own [ETH] in small sizes. We’re much bigger Solana fans than we are ETH fans. I don’t think we have a negative opinion of ETH. My partner in law school, my classmate John Sullos, is sort of an ETH maximalist. So he’s got it in our portfolio.” Scaramucci goes further to say…
Pump.fun co-founder Alon Cohen is denying reports that the Solana (SOL)-based memecoin launchpad will issue its own native token. Crypto reporter Colin Wu earlier said that Pump.fun is working on launching its own token and plans to use the Dutch auction system in the public offerings. Wu said that his team confirmed the information with insiders from multiple centralized exchanges (CEXs) that Pump.fun is purportedly working with to develop the system. In response, Cohen says on the social media platform X that the speculations are not true. He also tells his followers not to believe in anything that did not…
Closely followed crypto analyst Benjamin Cowen says that a shift in monetary policy will most likely be what finally triggers an “altseason,” or a period where altcoins vastly outperform Bitcoin (BTC). In a new strategy session, Cowen overlays the Fed balance sheet with Ethereum (ETH) versus Bitcoin (ETH/BTC) and notes that in previous market cycles, altseasons didn’t kick off until the Fed ended quantitative tightening (QT) and increased the assets on its balance sheet. “What allowed for [the forecast] was just the understanding of tighter monetary policy, and knowing that last cycle we did not see ETH/BTC bottom or the inverse…
A large entity is reportedly accumulating Uniswap’s native token UNI, according to blockchain tracking firm Lookonchain. Citing data from on-chain “de-anonymizer” Arkham, Lookonchain reports that an unknown deep-pocketed investor has begun withdrawing UNI from Binance, the largest crypto exchange in the world. “A giant whale is accumulating UNI! This whale has withdrawn a total of 1.7 million UNI ($15.54 million) from Binance in the [past days].” According to Arkham’s data, the whale also holds $15.8 million in Tether’s USDT in the same wallet which was created only about two weeks ago. Uniswap is the second-largest decentralized exchange (DEX) in the…
Economist Henrik Zeberg believes Bitcoin (BTC) and altcoins are close to igniting the final phase of the crypto bull market. In a new interview on the Crypto Banter YouTube channel, Zeberg says he’s giving a less than 5% chance that crypto assets have already printed a bull market top. “There are no indications for me that the top is in at this point here. I’m looking at various indicators that tell us that the top is in, and I actually think still that we’re going to have a fantastic altcoin season.” Looking at Bitcoin itself, the economist says that BTC…
The chief executive of market intelligence firm CryptoQuant is identifying a “killer” future use case for crypto assets. In a new thread, Ki Young Ju tells his 402,000 followers on the social media platform X that the political process will eventually become tokenized due to its narrative-driven nature. According to Ki, the way digital assets are designed makes them a perfect fit for politics, noting that Trump’s crypto asset Official Trump (TRUMP) – which launched last month – is just the start. “PoliFi will be crypto’s killer use case. A strong crypto asset attracts capital and talent through a compelling…
Coinbase added three relatively new altcoins to its listing roadmap on Friday, putting the tokens on the potential path toward trading on the top US digital asset exchange. The firm could soon support Morpho (MORPHO), Popcat (POPCAT) and Pudgy Penguins (PENGU). Morpho is a decentralized lending protocol built on the Ethereum (ETH) blockchain. The project’s native token launched in June 2022 and is trading at $1.81 at time of writing. The 188th-ranked crypto asset by market cap is down nearly 2% in the past 24 hours. Popcat is a Solana (SOL)-based memecoin that launched in December 2023. The 289th-ranked crypto…
The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) continues to surpass all other non-fungible token (NFT) projects in terms of recent development activity, according to the crypto analytics firm Santiment. Santiment notes on the social media platform X that Decentraland registered 143 notable GitHub events in the past 30 days. Decentraland also led the rankings in December, November, October, and September. Flow (FLOW), a layer-1 permissionless blockchain, continues to occupy the number two spot, with 114.9 notable events. Metaplex (MPLX), a decentralized NFT platform built on Solana (SOL), moved into third with 42.47 events, passing the NFT layer-2 scaling solution Immutable X…