Author: Benjamin Lee

A widely followed crypto analyst says that Bitcoin (BTC) may pull back after failing to hold a key support level. In a new thread, crypto trader Justin Bennett tells his 116,000 followers on the social media platform X that BTC may revisit the lower bound of a trading range at the $100,000 level, after a possible weekend bounce. “Possible scenario for BTC following Thursday’s $106,600 failure. Pull back/consolidate on Friday, weekend rally (because that’s what retail does) into $106,000-$107,000, and then revisit the $100,000 lows. Invalidation on a sustained break (high time frames) above $107,000… Personally, I wouldn’t be a…

New data from the market intelligence firm Santiment reveals that Dogecoin (DOGE) rival Shiba Inu (SHIB) could skyrocket as whale activity around the meme asset increases. In a new analysis, Santiment says that historically, deep-pocketed investors making moves worth over $100,000 have predated peaks in prices for digital assets. “History has shown that seismic upticks in $100,000 whale transactions often come just before prices peak. One of the most telling examples occurred in December 2017, when Bitcoin hit nearly $20,000 for the first time. On December 13, 2017, the number of whale transactions soared to a then-record-breaking amount of 62,317…

Analyst and trader Michaël van de Poppe is offering his outlook on Bitcoin (BTC) and two other crypto assets amid a market recovery. Van de Poppe tells his 791,900 followers on the social media platform X that Bitcoin is in the first phase of consolidation after breaking out from the $106,500 price level. According to the widely followed analyst, the first consolidation phase is likely to last a couple of days. “Then, we’re going to have the next breakout above the all-time high. Ideal zone to buy? I would estimate around $107,000 – $108,000. Buy the dip season.” Source: Michaël…

The world’s largest crypto exchange platform by trading volume is abruptly adding support for one decentralized finance (DeFi) application (DApp), causing its native token to skyrocket. In a new announcement, Binance says it is adding support for DeFi App (HOME), a DApp that aims to simplify decentralized trading as well as make it more accessible. After the addition, HOME skyrocketed, going from a low of $0.0201 on June 10th to a peak of $0.038 just two days later. The token has since retraced and is trading for $0.033 at time of writing, a gain of 10.3% during the last 24…

The world’s largest crypto exchange platform by trading volume is abruptly adding support for one decentralized finance (DeFi) application (DApp), causing its native token to skyrocket. In a new announcement, Binance says it is adding support for DeFi App (HOME), a DApp that aims to simplify decentralized trading as well as make it more accessible. After the addition, HOME skyrocketed, going from a low of $0.0201 on June 10th to a peak of $0.038 just two days later. The token has since retraced and is trading for $0.033 at time of writing, a gain of 10.3% during the last 24…

The crypto arm of the French banking giant Societe Generale is launching a US dollar stablecoin on the Ethereum (ETH) and Solana (SOL) blockchains. In a new announcement, the Societe Generale-FORGE says it is launching the USD CoinVertible (USDCV), its second stablecoin after the 2023 launch of EUR CoinVertible (EURCV). Says Jean-Marc Stenger, CEO of the Societe Generale-FORGE, “After the release of a MiCA-compliant EUR stablecoin EURCV, the launch of a US Dollar version USDCV was the obvious next step for Societe Generale-FORGE as market adoption of stablecoins is growing exponentially. The stablecoin market remains largely US dollar-denominated. This new…

A widely followed crypto strategist thinks that a correction in one safe-haven asset will likely trigger risk-on behavior that could benefit altcoins. Analyst Michaël van de Poppe tells his 791,800 followers on the social media platform X that he’s keeping a close watch on gold’s price action, noting that the precious metal’s chart is the “most important chart to watch” this week. According to the trader, gold appears to have printed a bearish lower high setup on the six-hour chart, suggesting that the precious metal could fall to as low as $3,200 in the near term. “As long as Gold…

Institutional crypto investment vehicles enjoyed nearly $225 million in inflows last week, according to CoinShares. In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that last week’s institutional crypto inflows, while positive, have fallen significantly in the last two weeks, perhaps due to uncertainty on US monetary policy. “Digital asset investment products saw US$224m in inflows last week, extending this 7-week streak to US$11bn. However, there has been a noticeable deceleration amid uncertainty over monetary policy, with investors adopting a wait-and-see stance ahead of further signals from the US Federal Reserve on inflation.” Source: CoinShares Regionally, the US led…

Coinbase has added the native altcoin of the top decentralized exchange (DEX) to its listing roadmap. Coinbase’s customers may soon be able to trade PancakeSwap (CAKE), the native asset of PancakeSwap, a DEX originally built on the BNB Chain. PancakeSwap has expanded to multiple blockchains and now leads all decentralized exchanges in trading volume, recording $228.03 billion in the past 30 days compared to Uniswap’s (UNI) $95.706 billion, according to DeFi Llama. PancakeSwap also recently set its monthly record with $173 billion in trading volume in May. The roadmap addition, announced on Wednesday, has not boosted CAKE’s price: The 116th-ranked…

Coinbase has added the native altcoin of the top decentralized exchange (DEX) to its listing roadmap. Coinbase’s customers may soon be able to trade PancakeSwap (CAKE), the native asset of PancakeSwap, a DEX originally built on the BNB Chain. PancakeSwap has expanded to multiple blockchains and now leads all decentralized exchanges in trading volume, recording $228.03 billion in the past 30 days compared to Uniswap’s (UNI) $95.706 billion, according to DeFi Llama. PancakeSwap also recently set its monthly record with $173 billion in trading volume in May. The roadmap addition, announced on Wednesday, has not boosted CAKE’s price: The 116th-ranked…