Cardano’s Hoskinson Reiterates Bullish Bitcoin Prediction while Anticipating ADA, SOL, XRP Rocket ZyCrypto
Source link ]]>
Cardano’s Hoskinson Reiterates Bullish Bitcoin Prediction while Anticipating ADA, SOL, XRP Rocket TradingView
Source link ]]>
Bitcoin, Ethereum, Dogecoin Recover Even As Trump Reiterates August Tariff Deadline 富途牛牛
Source link ]]>
Bitcoin, Ethereum, Dogecoin Recover Even As Trump Reiterates August Tariff Deadline: Analyst Sees Move To $120,000-$130,000 If BTC Breaks Above This ‘Silly Wall’ Benzinga
Source link ]]>
The XRP price continues to hold support above $2, which now serves as an important level for bulls. This continues as bullish sentiment is the order of the day, and the sellers seem to have run out of steam across the crypto market. With these developments, expectations for the XRP price have shot up significantly. Most especially among crypto analysts, who continue to predict that the altcoin is set for great things and could reach double-digits this bull cycle.
XRP Price Still On Track For Mega Candle
Crypto analyst Egrag Crypto has been very vocal on X (formerly Twitter) about the bullishness of XRP. The analyst has become known for calling the XRP price increase for months before the impressive 2024 rally. Even as that rally has cooled off and the altcoin is now struggling at support, the crypto analyst has not deviated. Rather, he continues to call out that the cryptocurrency is still quite bullish, which he expects to hit double-digits at some point.
In a recent post, the crypto analyst explained that the XRP price is still on track to move upward. In what he calls the ‘blue ocean’, Egrag Crypto points out that investors are now “swimming with sharks”. In this case, XRP is being gobbled up at a rapid pace, which could set it on a path to see rapid recoveries.
With the positive sentiment rising, the crypto analyst sees the XRP price exploding soon. He explains that a mega green candle is on the way, and this could drive the price finally above double-digits. In this blue ocean, Egrag Crypto sets three price targets. The first is $9.5, and then moving further into $17. Last but not least is the $27 target, something that the crypto analyst has continuously predicted for over a year now.
Currently, the XRP price is still trading just above the $2 support, so this means that it has a long way to go before it hits the analyst’s targets. The expectation of XRP ETFs being launched has also been put forward by many in the community as a potential factor that could trigger a rise in the XRP price.
Previously, there had been rumors that the ProShares XRP ETFs would launch on April 30. However, Bloomberg’s ETF expert James Seyffart has said that there are no plans to launch on this date, and there is no specified date yet. Nevertheless, the fund is expected to launch its XRP ETFs in the short to medium term, and this is expected to be a catalyst for an XRP price increase.
]]>Bitcoin, Ethereum, Dogecoin Erase Gains Even As Trump Reiterates ‘Crypto Capital’ Pledge: Arthur Hayes Says ‘Odds Are Shifting More Bullish’ For BTC MSN
Source link ]]>
Bitcoin, Ethereum, Dogecoin Erase Gains Even As Trump Reiterates ‘Crypto Capital’ Pledge: Arthur Hayes Says ‘Odds Are Shifting More Bullish’ For BTC Benzinga
Source link ]]>
Bitcoin, Ethereum, Dogecoin Erase Gains Even As Trump Reiterates ‘Crypto Capital’ Pledge: Arthur Hayes Says ‘Odds Are Shifting More Bullish’ For BTC Benzinga India
Source link ]]>
Despite scalability and high gas fees facing Ethereum, the founder of EigenLayer, a liquidity restaking platform, insists the network is superior, especially against Solana. Solana is the third most valuable smart contracts platform, trailing Ethereum and the BNB Chain. Over the years since launching, it has been gulping up more market share from Ethereum, cementing its position.
Is Ethereum Superior To Solana?
While the prominence of Solana is evident, Sreeram Kannan, the founder of EigenLayer, argued in a post on X that Solana prioritizes low latency and global node synchronization over other core features.
Related Reading
On the other hand, Ethereum took a different approach, emphasizing the need for stability and decentralization. Accordingly, in Kannan’s view, the first smart contracts platform offers a more comprehensive solution than its competitor. Currently, EigenLayer manages over $12 billion worth of assets on Ethereum, according to DeFiLlama.
Although Kannan acknowledges the efficiency of Solana, the founder nonetheless picks out some limitations now that the platform is building a global state machine. At the top of the list is the blockchain’s sacrifice of programmability and verifiability.
Meanwhile, the EigenLayer lead thinks Ethereum is excelling, especially on performance, thanks in part to the success of rollups and the resulting wild adoption. This off-chain solution provides instant confirmation and is more performant than web2 applications.
At the same time, Ethereum is programmable, enabling EigenLayer to add more features like an arbitrary decentralization of verifiable tasks. As a result, the liquidity restaking platform, Kannan adds, has enabled cloud-scale programmability.
Layer-2 Platforms Thriving: Why Is ETH Struggling?
The co-founder of Celestia, Mustafa Al-Bassam, also appreciates what Ethereum brings to the table and is absent or underdeveloped in other networks. In a post on X, Al-Bassam said the first smart contracts platform is “underrated.”
Related Reading
Specifically, the co-founder lauded the thriving rollup ecosystem in Ethereum, saying it is “by far the largest and most successful.” As of September 30, L2Beat data shows that the layer-2 ecosystem in Ethereum manages over $38 billion, with Arbitrum and Base among the largest platforms.
Even as Base and other Ethereum layer-2 platforms draw activity, ETH, the native currency, is struggling for momentum. The daily chart shows bulls have yet to break above $2,800, although support remains at $2,400.
Dwindling upside momentum has been partly blamed on the proliferation of layer-2 scaling solutions. The network becomes inflationary as more activity is re-routed off-chain, and enhancements like Dencun are activated to make layer-2 transactions even cheaper. Looking at Ultra Sound Money, fewer ETH are not being torched.
Feature image from DALLE, chart from TradingView
SkyBridge Capital’s Anthony Scaramucci has doubled on the institutional adoption of Bitcoin (BTC) following recent revelations of spot BTC ETF exposures. In a recent CNBC interview, Scaramucci noted the bullish stance on institutions after the Securities and Exchange Commission (SEC) approved spot ETFs in January.
“When you do the homework on Bitcoin, you go towards Bitcoin…sometimes when you’re early you get some bumps and scrapes, but I think it pays to be early in Bitcoin and we are still early in Bitcoin,” says SkyBridge Capital’s Anthony Scaramucci. pic.twitter.com/HTfbwH5VJG
— Squawk Box (@SquawkCNBC) May 16, 2024
According to him, spot Bitcoin ETF approval was the regulatory approval most big institutions required to open the door to the asset spurring a new tide in the asset’s price. He added that most firms go to long Bitcoin citing references from BlackRock before it becomes part of a tactical asset allocation index.
Reiterating his bullish sentiment, Scaramucci noted that SkyBridge disclosed its Bitcoin position in 2020 and received lots of backlash. However, at the moment, many of those firms have gained exposure to the asset.
“Sometimes when you’re early you get some bumps and scrapes, but I think it pays to be early in Bitcoin and we are still early in Bitcoin.”
Scaramucci Backs Digital Gold’s Narrative
The asset management executive was asked why institutions are fast adopting the asset. Specifically narrowed to two reasons; a hedge against inflation or the future transactional currency. Scaramucci stated that he remains in the digital gold category although MicroStrategy’s Michael Saylor will argue for the latter.
“Michael Saylor will probably call my cellphone after this and say no this isn’t the universal currency category. Meaning it will eventually be the standardized currency for the world over the years.”
Bitcoin to Hedge Against Inflation
Bitcoin bulls have always tipped the asset as a hedge against inflation amid the central bank printing more money. Recent negative macroeconomic factors have affected stocks in several justifications further deepening calls for the mass adoption of the asset.
Some crypto users have also supported a fundamental shift from the central bank to a more decentralized and transparent model. Scaramucci advises participants to do their homework on the asset adding that people tend to move towards Bitcoin after research.
Also Read: Binance To Remove NOT/BTC Trading Pair Amid Compliance Check Concerns
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: