Ethereum has undoubtedly been under pressure despite the recent bullish rally in the broader cryptocurrency market as it struggles to make any major upside move. A recent analysis by ShayanBTC, a contributor to the CryptoQuant QuickTake platform, has shed light on key factors impacting Ethereum’s performance. In a post titled “Ethereum Faces Crossroads: Funding Rates and $3K Support Key to Sustaining Bullish Momentum,” Shayan highlights the asset’s struggles to maintain its upward trajectory. Related Reading: Ethereum Downswing To $2,900 Could Be A ‘Buy-The-Dip Opportunity’ – Analyst Expects Bullish Surge Funding Rates And The Importance Of The $3K Support Level According to Shayan, Ethereum’s bullish momentum has been significantly challenged by fluctuations in Funding Rates, a key indicator of demand in the derivatives market. While these rates initially rose during the recent rally in the crypto market, signaling growing confidence, there was a subsequent decline after Ethereum was rejected at the $4,000 resistance level suggesting reduced trader interest and commitment. Notably, the spike in Funding Rates during the rally pointed to cautious optimism among traders. However, the sharp decline in these rates afterward highlights a waning demand for Ethereum in the derivatives market. This shift raises concerns about the sustainability of the bullish trend, particularly in light of Ethereum’s inability to breach the $4,000 resistance. The $3,000 support level has emerged as a pivotal threshold for Ethereum. Shayan emphasized that maintaining this level is crucial for stabilizing the market and potentially reigniting bullish momentum. A failure to hold above $3,000 could trigger increased selling pressure, leading to a deeper market correction. The analyst wrote: Overall, Ethereum’s outlook depends on reclaiming higher Funding Rates and defending $3K. These factors will determine whether the market resumes its uptrend or faces further corrections. Ethereum Market Performance Meanwhile, Ethereum has continued to demonstrate downward movements, especially as the broader market has recently turned bearish. Over the past week, Ethereum’s market value has dropped by 6.2% bringing its price below $3,500. However, over the past day, there has been a slight uptick in ETH’s price as the asset records a 0.9% increase. This slight increase has pushed ETH’s price to hover above $3,200 at the time of writing marking a 33.9% decrease away from its all-time high of $4,878 recorded in November 2021. Related Reading: Ethereum: Analyst Says $7,000 Target ‘Is Looming’ As Price Retests Crucial Level Interestingly, despite the descent in ETH’s price in the past week, the asset’s daily trading volume has faced an opposite trend over the same period. Particularly, ETH’s daily trading volume has moved from $20 billion last Friday to now sitting at above $26 billion as of today. Given the current trend in ETH, it is worth noting that this increase in trading volume may be a result of the surge in buying pressure and selling pressure ongoing in the Ethereum market. Featured image created with DALL-E. Chart from TradingView
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How Will Ripple (XRP) and Dogecoin (DOGE) Prices React as Whales Keep Buying?
TL:DR; Crypto markets went through a more volatile end of the week, but larger investors seem unfazed as they keep accumulating two of the biggest tokens by market cap. The question now is whether XRP and DOGE will rebound swiftly, given the massive purchases completed by the so-called whales. It was a rollercoaster of a week for the entire crypto market, with BTC surging past $102,000 at the start of it only to dump by more than ten grand within two days to a multi-week low. The altcoins followed suit, as DOGE, for example, stood close to $0.4 at one point this week but then plunged toward $0.31, representing a 22% retracement. XRP went above $2.5 briefly on January 4 and to $2.47 on January 7, but the market-wide correction pushed it to a low of $2.2 on January 9 before it calmed to around $2.33 in the past 24 hours. Such enhanced fluctuations tend to scare off certain investors, especially retail, but that has not been the case with whales. Data from Santiment, shared by Ali Martinez, show that XRP and DOGE whales went on an accumulation spree amid this market uncertainty. Those holding the largest meme coin by market cap increased their stash by adding more than 470 million DOGE in 48 hours alone. In USD terms, this would put the total accumulation at about $150 million, with an average price of $0.33 per token. The XRP case is even more bullish as whales purchased more than a billion tokens within the same timeframe. An average price of around $2.3 puts this two-day acquisition at $2.3 billion. Whales bought roughly 1 billion $XRP in the last 48 hours! pic.twitter.com/XUlibpXkz5 — Ali (@ali_charts) January 10, 2025 It’s worth noting that both assets reacted to this market-wide crash in a less painful manner compared to the previous one at the end of 2024, when BTC slumped toward $91,000 once again. Back then, XRP tumbled hard , slipping below $2 on a couple of occasions. So far, during this correction, the token’s low was 10% higher at $2.2, perhaps assisted by the aforementioned large purchases. DOGE’s scenario was similar as it plummeted to just over $0.26 on December 30, while its bottom now came at over $0.31. Consequently, it’s safe to say that the whale accumulations helped both assets during the crash, and they could have an even greater effect if they continue and the market rebounds in the next few days. The post How Will Ripple (XRP) and Dogecoin (DOGE) Prices React as Whales Keep Buying? appeared first on CryptoPotato . NewsBTC
OpenAI and SUI Partnership Will Open the Door for a PropiChain 43,102% Run, Here’s Why
Sui has created market excitement after unveiling its desire to partner with OpenAI. This has increased the spotlight on Sui, just days after the token hit a new all-time high. However, many investors have more faith in Propichain, citing its power to offer streamlined profit opportunities in the housing market. Read on to see why experts prefer Propichain to Sui. Experts Celebrate Sui’s Willingness to Partner with OpenAI The founder of Mysten Labs, the development team behind Sui, has released exciting news that confirms a possible mega AI collaboration in the future. The network founder highlighted the importance of pursuing AI to AI collaborations between Sui and OpenAI. Such a partnership could provide significant momentum for Sui’s growth, making it an attractive prospect for investors. Sui currently trades at $4.71, falling by 12.29% from its all-time high of $5.35. With talks of a possible collaboration with top AI companies like OpenAI, Sui could remain a top performer, rising to $7 in early February. Propichain: Creating Technology-Backed Investing Solutions for the Housing Market Propichain is an AI altcoin ecosystem that focuses on clearing the regular blocks in the traditional housing sector. It also prioritizes lowering investment costs and streamlining investor access to quality opportunities. Propichain’s first investing solution is fractional asset ownership. This innovative ownership model allows investors to acquire stakes in housing assets instead of purchasing them whole. This increases participation opportunities for lower-budget investors, providing opportunities that would have been unavailable in the traditional housing sector. After breaking down investment barriers with its fractional asset ownership model, Propichain further enhances its offerings by providing AI-driven tools designed to boost investing efficiency. Propichain’s AI-driven tools empower investors with advanced market analysis, trend assessment, and asset valuation. This makes it easier to discover investment properties that align with your financial goals. It also allows you to easily find market opportunities that match your investing ambitions. You can also tailor property searches to focus on specific types of housing assets. For instance, you can search for investing opportunities with high ROI potential. Even better, you can enjoy higher investing efficiency provided by Propichain’s automated trading features. Investors can complete deals using buy or sell orders that are completed automatically. These trade commands are activated based on the conditions you set. For instance, you can purchase a housing asset using a buy command that is only activated when the asset’s price falls to your preferred level. This takes investor convenience to another height. Propichain seamlessly integrates AI-powered insights with its metaverse-based services, giving investors access to both advanced analysis and global housing markets—all within a single platform. Propichain exposes investors to more housing opportunities via virtual tours that empower users to check out housing assets worldwide. Propichain investors can leverage this feature to scout housing properties in distant markets, all from the comfort of their homes. For instance, using these virtual tours, a London-based realtor can explore penthouse suites in Abu Dhabi without changing their location. Propichain also ensures that trades are backed by smart contract technology that guarantees high efficiency. These smart contracts provide near-instant transactions, allowing users to complete housing deals without the delays associated with the traditional housing sector. Propichain’s smart contracts can also be used to create specialized agreements for rental and leasing transactions.This ensures a seamless P2P trading experience, maximizing transaction speed and reliability. Sui and Propichain: Which Token Offers Better Returns? As Propichain’s AI altcoin gains momentum, it is being compared to leading digital assets like Sui, a token known for its innovation in the digital asset space. Interestingly, Propichain has won over many investors with two key moves. Firstly, its BlockAudit security certification has shown investors that its ecosystem is safe for real estate transactions. Propichain has also gone live on CoinMarketCap, further fueling belief in its long-term growth potential. Some analysts now claim that $1,000 worth of PCHAIN tokens could grow to $60,000 by Q2 2024. Propichain’s Presale: What You Stand to Gain As Propichain’s innovative features like fractional ownership and AI-driven tools gain traction, investors are flocking to the ongoing presale to purchase PCHAIN at an early, advantageous price. Investors who joined Propichain at the start of its presale have now earned a 208.17% interest from PCHAIN’s entry to round two of its presale. PCHAIN now trades at $0.011. However, round three of its presale will bring 108.93% to $0.023. This growth will continue until PCHAIN reaches its official launch price of $0.032. Don’t miss your chance to join the Propichain presale and secure PCHAIN at an early, advantageous price—before its value rises again. For more information about the PropiChain Presale: Website: https://propichain.finance/ Join Community: https://linktr.ee/propichain NewsBTC