Dogecoin, star of memecoins, is approaching a weekly “Death Cross” for the first time since 2023. This rare signal, synonymous with a bearish trend, raises a question: sell or bet on a comeback? Technical analysis and crypto outlooks.
In Brief Dogecoin might validate a Death Cross on its weekly chart, a rare bearish signal since 2023. Previous Death Crosses led to stagnation, but the context this time is different. Crypto investors must keep their eyes open between the risk of a drop and the possibility of a rebound. Dogecoin (DOGE) is close to forming a weekly Death Cross for the first time since February 2023, a technical crossover where the 50-week moving average (50 WMA) crosses below the 200-week moving average (200 WMA). This signal, often synonymous with a long-term bearish trend, is all the more rare as DOGE has experienced only three of them since 2021, two of which were Golden Crosses or bullish crossovers. In 2023, the last Death Cross trapped Dogecoin’s price between 0.07 and 0.10 dollars, without a sharp crash.
But this time, the situation is different. Indeed, at $0.074 DOGE is already below both moving averages, which could amplify the impact of the signal. This crossover is therefore closely watched by crypto traders because, if confirmed by high volume, it could trigger a wave of sales. However, Dogecoin has often defied predictions. Its history shows that Golden Crosses have always preceded explosive rallies. So, will this Death Cross be different?
DOGE: What If the Death Cross Turned into a Golden Cross? Some crypto investors are betting on a spectacular rebound for Dogecoin, despite the Death Cross causing concerns. After all, DOGE has already proven itself defying technical logic:
In 2021, a Golden Cross pushed its price from $0.02 to $0.74 in three months, a 3,600% increase; In 2024, a similar scenario occurred, with a 100% increase after a bullish crossover. Today, although the signal is bearish, external catalysts could reverse the trend. A tweet from Elon Musk, a major integration, or even a rise in Bitcoin could rekindle enthusiasm. Some analysts even bet on a new all-time high if Dogecoin manages to break the $0.12 resistance. However, caution is advised. The crypto market is volatile and unpredictable, and a Death Cross, even if it had little impact in the past, could this time mark the start of a deeper correction.
Dogecoin stands at a technical crossroads. Between the Death Cross and a potential rebound, crypto investors are hesitant. What is certain is that with DOGE, history is never the same twice. And you, do you bet on the drop or the rebound?
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
XRP has spent the last several weeks fighting to stabilize after a painful breakdown below its multi-month trading range. Recent events indicate that expectations for a move toward $1.50 are not wholly unrealistic, even though the asset is still stuck in a larger bearish structure. The resumption of trading activity is one of the most promising indicators.
XRP's volume recently increased by over 20%, suggesting that market players are once again paying attention. Though significant rallies seldom occur without it, rising volume by itself does not ensure a breakout. When traders start positioning for a bigger move, there is often an increase in participation.
XRP/USDT Chart by TradingViewFrom a technical standpoint, XRP is beginning to improve. The asset has recovered its short-term moving average and is moving toward the $1.12 resistance zone after finding support close to the psychologically significant $1 level. Additionally, the RSI has recovered from oversold conditions and is steadily rising, indicating strengthening momentum.
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The cluster of resistance levels between $1.12 and $1.29 continues to be the bulls' immediate obstacle. The 50-day and 100-day moving averages, which have served as dynamic resistance during the current decline, are located in this region. The technical outlook for XRP would be greatly improved by a successful breakout above these levels. If buyers are able to recover $1.29, the route to $1.50 becomes much more feasible.
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The long-term 200-day moving average, which is presently above the market and serves as one of the most significant resistance levels on the chart, is located in the $1.50 area. The seeming exhaustion of selling pressure is another element bolstering the bullish case. XRP has already completed a major breakdown and subsequent capitulation phase, meaning many weak hands have likely exited the market. The fact that the price has recently stabilized above $1 indicates that demand is starting to absorb the remaining supply.
Shiba Inu trying to stabilizeAfter one of its most trying periods this year, Shiba Inu is making an effort to stabilize, but returning to $0.000005 will still be difficult. Although the meme coin has somewhat recovered from recent lows, price action is still being influenced by a larger bearish structure. After bouncing from the $0.0000041–$0.0000042 support zone, SHIB has shown signs of life and is currently trading around $0.00000436.
SHIB/USDT Chart by TradingViewFollowing weeks of unrelenting pressure, sellers may be losing some momentum as the RSI rises from oversold territory, which coincides with the recovery. Whether that rebound is strong enough to push SHIB back above the psychologically significant $0.000005 level is the crucial question. The short-term moving average is currently at $0.00000459, which is technically the first barrier.
SHIB has struggled to maintain momentum above this level during previous recovery attempts. If bulls manage to clear it, the next major target becomes the 100-day moving average near $0.0000050. Because it serves as both a technical resistance zone and a psychological threshold, that level is especially significant. Reclaiming it would signal that buyers are finally regaining some control after months of decline.
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All three indicators are still in a bearish alignment, and SHIB is still trading below its 50-, 100-, and 200-day moving averages. The longer-term resistance around $0.00000544 and $0.00000649 remains far above current prices, showing just how much ground bulls still need to recover.
Volume has also failed to show the kind of explosive accumulation that typically accompanies major trend reversals. While recent sessions have seen increased activity, the market has not yet produced a convincing breakout signal.
Solana approaches recovery thresholdOne of Solana's most significant technical moments in recent weeks is quickly approaching. The asset is currently testing a significant resistance cluster that may indicate whether a more significant recovery is about to begin after being stuck in a protracted downtrend for months. SOL has made a remarkable comeback from the June lows near $65, and it is currently trading around the $81 level.
More significantly, the asset has returned above its short-term and medium-term moving averages as a result of the recovery, something that has not happened for the majority of the recent correction. The most significant battleground now sits directly ahead. Solana is testing the area around $82-$85, where the 100-day moving average and previous support levels converge. This zone acted as a floor for months before the market breakdown earlier this year.
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As often happens in technical analysis, former support has now become resistance. What makes the current setup particularly interesting is the improvement in momentum. The RSI has climbed toward 65, showing strong buying interest without yet entering extreme overbought territory. This leaves room for additional upside if buyers can maintain control. Volume has also expanded during the recovery phase.
Unlike many recent rallies that occurred on declining participation, Solana's move higher has attracted increasing market activity. That is generally considered a healthier signal and suggests that investors are becoming more confident in the asset's recovery prospects.
That area coincides with the descending 200-day moving average, which remains the most important long-term resistance on the chart. The broader market environment is also becoming more supportive.
Bitcoin and Ethereum have stabilized, reducing pressure on major altcoins and allowing assets such as Solana to focus on their own technical recoveries rather than reacting exclusively to market-wide selling.
But traders should not declare victory too soon. For now, Solana is showing one of the strongest recovery structures among major cryptocurrencies. The chart suggests a breakthrough is within reach, but bulls still need to prove they can convert resistance into support before a larger rally can truly begin. Rejection at current levels could send SOL back toward support around $75, where the 50-day moving average is currently positioned.
Circle Stock is Facing Major Risks as USDC Supply DipsCRCL, which operates USD Coin (CRYPTO: USDC) and EURC, is confronting several major risks as the crypto winter continues.
A key risk is that the supply of USDC has continued to drop this month, which will hurt its revenue growth. CoinMarketCap data shows that the market capitalization of USDC has dropped to $73.7 billion from the year-to-date high of $80 billion. Similarly, EURC’s valuation has dropped to $426 million from the year-to-date high of $467 million.
At the same time, US bond yields have continued falling recently as crude oil prices fall after the reopening of the Strait of Hormuz. Brent and the West Texas Intermediate have fallen to $72.6 and $69, respectively. As a result, the two-year yield has dropped to 4.09% from the year-to-date high of 4.235%.
A combination of falling stablecoin supply and US bond yields is that its revenue growth will deteriorate in the near term. That’s because Circle’s business model involves investing its stablecoin reserves in short-term government bonds. Its revenue does well when these reserves and short-term bond yields are in an uptrend.
Analysts expect that Circle’s business will remain under pressure in the near term. The expectation is that its annual revenue will jump by 11% this year to $3.07 billion. Its annual revenue jumped by over 60% last year as its USDC assets jumped.
Circle Internet Group Stock Has Formed a Double-Top PatternCRCL is also facing some technical risks, which may drive it lower in the near term. It formed a double-top pattern at $135.70, its highest point in March and May this year. It has now dropped below the neckline of $84, its lowest point on April 9.
The stock has slumped below the 50-day moving average, while the two lines of the MACD indicator have continued falling. Therefore, the stock will likely continue falling, initially to the all-time low of $49. This view is in line with the recent CRCL stock downgrade by Mizuho, who lowered their target to $85.
Image: Shutterstock
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Coinbase, Kraken and other cryptocurrency exchanges are taking positions on proof-of-work consensus and Bitcoin mining. Despite criticisms against proof-of-work, they argue there is little risk of centralization-induced attacks.
Proof-of-work is one of Bitcoin’s core features which allows to reach consensus and keep the blockchain secure. Miners are responsible for finalizing transactions and generating new Bitcoins. However, proof-of-work isn’t perfect – to its critics, it’s a system that results in centralization of power.
Though there are alternatives, proof-of-work is here to stay as far as Bitcoin, Litecoin, Monero and many other cryptocurrencies are concerned. Proof-of-work largely operates behind the scenes, but it can have far-reaching effects — which has led some exchanges to weigh in on the matter.
Coinbase Endorses ASIC Mining Coinbase has recently argued that proof-of-work networks can benefit from ASIC mining. This is a controversial claim — it’s widely held that ASICs bring about monopolized ownership because they are specially designed to mine certain coins. CPUs and GPUs, by contrast, are general purpose chips that are available to anyone who owns a computer.
However, Coinbase sees things differently. It argues that general purpose hardware is a greater threat to centralization. There are many GPUs and CPUs that are not being used for mining, and these could suddenly be harnessed to attack a mining network. ASIC devices, which are only useful for certain types of mining, can’t suddenly join a network en masse.
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Coinbase adds that Bitcoin Gold, Vertcoin, and Verge have fallen victim to 51% attacks despite attempts to become ASIC-resistant. The company suggests that coins should bring about decentralization in a different way — they should instead turn to ASIC-friendly algorithms that support affordable manufacturing and turn ASICs into a widespread commodity.
Coinbase concludes that ASIC mining is inevitable: “Participants have to ask themselves if the industry is going to be secured by hobbyists running old laptops,” it insists. “Every at-scale, professional industry utilizes specialized equipment — it is naive to think that cryptocurrency mining will or should be any different.”
Kraken Argues Mining Pools Are Secure Kraken has published its own in-depth report on mining mentioning centralizing effects of mining pools. At the time of its publishing in April, many people were concerned that a few major mining pools could coordinate a 51% attack due to their hashrate dominance. That fear has intermittently come and gone.
Kraken argues that there is little reason to fear such an attack. It believes that heavily invested miners cannot carry out an attack sustainably as the effects on market price would devalue any profits. “We believe there is a greater incentive for [pools] to conduct honest operations and uphold the value of the network,” Kraken says.
Citing rules of game theory, Kraken suggests that dishonesty is a poor strategy for miners: “Any deviation will certainly result in short-term cost with unpredictable compensation.” It also notes that pools don’t have guaranteed dominance —since users can switch between pools, new pools can form to deter collusion.
Other Exchanges Are Also Getting Involved Some exchanges have attempted to get involved in mining more directly. Huobi, for example, runs a mining pool that accounts for 6% of Bitcoin’s hashrate, while OkEX runs a much smaller pool. Though they are not very significant, their existence does indicate that exchanges are interested in taking on big, Bitmain-owned mining pools.
BitMEX, meanwhile, is trying to keep mining security in check. It runs Forkmonitor.io which scans Bitcoin and its forks in real time for unusual activity. BitMEX Research also covers various mining-related issues, some of which are quite obscure and gain very little coverage elsewhere.
Finally, Binance has courted controversy by overstepping boundaries. After it suffered an attack in May, Binance briefly considered incentivizing miners to undo the theft. Binance eventually refrained from pursuing that plan — while miners showed no interest in complying. However, the event did raise the question of whether mining is truly irreversible.
Why Exchanges Care About Proof-of-Work Exchanges typically have no direct influence over mining and proof-of-work. They can only suspend trading activity and block bad actors if an attack or vulnerability occurs. Coin developers are ultimately responsible for designing proof-of-work schemes that produce a decentralized, accessible, and secure mining network.
Instead, exchanges are concerned with mining because they adjust their services around each coin’s proof-of-work model. For example, Coinbase recently decided that it is safe to reduce its confirmation times for Bitcoin, Zcash, and Ethereum Classic. On the other hand, exchanges like Bittrex have delisted attack-prone coins entirely.
Some investors make decisions about which coins to invest in based on technical matters such as proof-of-work. Though exchanges are naturally concerned with market data, they often tend to keep investors informed about technical matters — a level of dedication to the public that often goes unnoticed.
Disclosure: This article was edited by Mike Dalton. For more information on how we create and review content, see our Editorial Policy.
The altcoin market has been following Bitcoin’s lead and has suffered immensely. The coins have failed to recover completely and have been undergoing a sideways movement.
Huobi Token [HT]
Source: HT/USD on Trading View
Houbi Token [HT] continued to rise up till March, however, it succumbed to the 12 March attack. The price of the asset was pushed as low as $1.7482, after which it has been trying to resurface. At press time, the value of the coin had reached $3.2535, but a bearish presence was still around as per Awesome Oscillator.
Resistance: $3.5417
Support: $2.3117
At press time
Price: $3.21
Market Cap: $727.45 million
24-hour Trading Volume: $159.34 million
Augur [REP]
Unlike other tokens, REP noticed a sudden spring in its price in January. As correction set in, its value got slashed by more than half but it is still reporting a YTD return of 2.35%. At press time, REP was being traded at $10.13 with its immediate resistance and support marked closely.
According to Bollinger Bands indicators, the market of REP appeared to be volatile as the bands diverged. The trend has switched to a bearish trend as the signal line crept under the candlesticks.
Resistance: $10.84
Support: $8.35
At press time
Price: $9.92
Market Cap: $109.16 million
24-hour Trading Volume: $23.04 million
Verge [XVG]
Unlike the ups and downs in other cryptos, the chart of Verge [XVG] appeared to be pretty simple. The year 2020 started with an upwards stride, but the price has been on a downward spiral since the fall on 15 February. At press time, the coin has been valued at $0.00247 and it reported a negative return of -39.99% in 2020.
With all eyes fixed on Bitcoin’s valuation at the moment, the lesser-known assets with medium-range market caps were seen performing better than the large market cap assets.
According to Arcane Research, the best performing tokens over the past week has been outside the major altcoins with only Monero and Bitcoin SV making the cut from the major assets. Privacy coin Dash and Chainlink also registered impressive recoveries over the last few days, with Dash witnessing over 14.45 percent in the last 24 hours.
The Weiss Crypto’s Mid-Cap Crypto Index (WMC) (a measurement index covering the mid-range market cap on the basis of market performance) registered a sharp rise since the start of January. The index exhibited a growth of 1.05 percent for the collective market movement from the likes of Cardano, Monero, Dash, IOTA, and Ethereum Classic.
In comparison, Weiss Large-Cap Crypto (WLC) Index only pictured a 0.14 percent growth collectively as Bitcoin and Bitcoin Cash were responsible for the majority of the positive growth. Ethereum and Litecoin managed to exhibit positive returns as well.
However, the bearish side was rather dominant with other digital assets. According to the chart above, the Weiss Small Cap Crypto Index (WSC) recorded a drop of 0.44 percent over the same period. The likes of Verge, Ziliqa, and BitShares failed to take advantage of the surging market.
As a whole, the above data indicated that mid-level crypto assets were collectively outperforming in the market over the past week, whereas the likes of major assets such as Bitcoin, Ethereum and Litecoin were playing the game cautiously.
[PRESS RELEASE – San Francisco, CA, United States, April 2nd, 2024]
Ever since the popularization of smart contracts, the industry standard is for contracts to be hosted and executed by the blockchain itself. However, the Peercoin Foundation announced in a recent blog article that it has been experimenting with a secure and decentralized way of moving the execution of smart contracts off the blockchain. Doing this would provide massive benefits like increased privacy, lower fees and improved scalability.
With this new off-chain technology, the Peercoin Flutter app will be able to handle various decentralized applications, including prediction markets, financial contracts like binary options, futures, as well as any other type of contract where the outcome can be determined based on data provided by an oracle, such as sports betting, election results, and more.
Peercoin’s second layer is imagined as a collection of independent dApps with the app logic being executed off-chain. Final balances are then settled on Peercoin’s mainnet. To summarize, by moving the execution of smart contracts off-chain, the following favorable traits are achieved:
Increased Privacy; to the outside world, the entire contract seems like a regular transaction with no identifying information. Lower Fees; due to drastically reduced size and cheap signature validation. Improved Scalability; as most computationally intensive work is done off the chain and only settled on the main chain. The ability to operate financial contracts with a minimal on-chain footprint while also ensuring contract integrity and confidentiality is a pivotal development in the quest for a more accessible and efficient blockchain ecosystem.
The blog article suggests that this project has been ongoing for over a year now, and this week marks the first successful test of threshold signature support on Peercoin’s testnet, one of the technologies necessary to make the system work.
How Does it Work?
The plan is to use the following combination of technologies:
Threshold Signatures; are an economically viable method of reaching consensus within groups, of potentially hundreds of participants, while being fully off-chain, completely private and infinitely scalable. Discreet Log Contracts (DLCs); are a novel idea on how to do contracts without relying on scripting or virtual machines. All the important details of the contract and its execution are kept secret from everyone except the parties involved, and the blockchain is not used for anything other than starting and finishing the contract. Oracles; process real-world external events and deliver information about them in a way that can be used by DLCs. External events can be anything from a football game’s results to the value of a stock, so that data can be fed into a contract. Distributed Oracles (Oracle Swarms)
Traditionally, the main issue with DLCs has been reliance on centralized oracles, which increases the risks and decreases the trust in such systems. However, by combining the above technologies, the problem is solved by introducing the concept of distributed oracles (also called an oracle swarm).
A swarm tackles the problem, as the oracle is no longer a single party that must be trusted, but an entire network of potentially hundreds of participants with internal consensus and governance. If enough participants of the swarm agree on the outcome of an event, they can construct and publish the information that proves they, as a collective, agree on that outcome. This is peer to peer consensus in its true sense.
Ease of Use with Mobile Integration
Technologies like threshold signatures, distributed oracles and off-chain contracts won’t really become meaningful unless they’re easy for everyone to use on the go in their daily lives. This means hiding all the complicated tech stuff under the hood and presenting it in a simple and clear interface to users.
Knowing this, the plan is to integrate all these technologies into the Peercoin Flutter Mobile Wallet. The mobile wallet is being developed to allow its users the ability to create and interact with discreet log contracts (DLCs) and form oracle swarms.
About Peercoin Foundation
The Peercoin Foundation is a non-profit organization established in 2018 with the simple mission of promoting and supporting the continued education, development, and overall progression of the Peercoin project. The Foundation seeks to empower the Peercoin community by providing the tools necessary to perpetuate Peercoin’s long-standing reputation. The Peercoin blockchain network and the Peercoin project in general is an open-source decentralized ledger, with no governing body. The Peercoin Foundation makes no claims over intellectual property related to the Peercoin project, unless explicitly stated otherwise.
The Foundation is funded solely by community donations.
Official Links:
Website – https://www.peercoin.net/
Foundation – https://www.peercoin.net/foundation
Twitter – https://twitter.com/PeercoinPPC
Blog – https://www.peercoin.net/blog/
Forum – https://talk.peercoin.net/
Telegram – https://telegram.me/peercoin
Discord – https://discord.gg/m294ReV
Disclaimer: The information contained in this press release is for information purposes only and does not constitute investment advice or a solicitation to purchase or invest. The price of Peercoin can be extremely volatile and can fluctuate rapidly in response to market conditions. Before making any investment decisions, you should carefully consider your investment objectives, level of experience, and tolerance for risk.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Solana has joined the ongoing market rally, forming a new bottom around the $80 price mark and now eyeing the $90 resistance mark. This uptick comes as the digital currency confirmed the formation of a golden cross on a lower time frame, setting up a basis for a stronger rally in the short term.
Solana on-chain metrics flip positiveAccording to data from CoinMarketCap, every visible Solana metric is in positive territory. Solana volume has jumped by more than 88% in the past 24 hours as total SOL traded in dollar terms surpassed $6 billion.
This volume shift shows more interaction with the asset by market traders as a broader shift in the industry shows a relief rally is underway.
Market data suggests a golden cross formation has formally been logged by Solana. This golden cross appeared on the four-hour chart as the short term 9-day moving average has crossed above the longer-term 21-day average.
Solana Price Chart | Source: TradingView/CoinMarketCapThe shift in Solana comes following the price bottoming at a daily low of $78.43. At the time of writing, the digital currency is now changing hands for $84.67, up by 5.43% in the past 24 hours.
The Solana price has faced many bearish triggers in the past few months, shown by its more than 71% drawdown from its all-time high of $294.33.
Market rebound here to stay?Solana is not the only altcoin that has seen a similar relief rally. As of writing time, Ethereum has hit a multiweek high of $2,251, up by 5.83% in the past 24 hours.
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XRP has rallied 4.64% to $1.381, and Cardano has reclaimed the $0.26 resistance atop a 6.32% uptick in the past day.
Amid the broader market rebound, the consensus is that the bottom is yet to form, and traders risk falling into a bull trap. However, with capital flowing back into crypto funds, altcoins like Solana and XRP may shine brighter in the coming weeks.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
It is not hyperbole to say that Shiba Inu is experiencing one of the most stable periods in its recent history.
SHIB has entered an exceptionally tight consolidation range around the $0.0000060 level, with price action flattening and volatility significantly compressing following months of continuous downtrend and volatility spikes.
Technically speaking, this type of structure is uncommon for an asset that has historically been driven by cycles of speculation and hype. The chart clearly demonstrates the exhaustion of selling pressure: the price is hugging short-term moving averages rather than reacting violently to them, lower lows have stopped printing and candles are getting smaller.
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SHIB/USDT Chart by TradingViewEven the RSI, which indicates equilibrium rather than momentum dominance, is stabilizing close to the midrange. This degree of stability is occurring despite comparatively poor liquidity conditions throughout the larger cryptocurrency market.
This is important because volatility is typically increased in low-depth environments, particularly for meme assets. When SHIB compresses rather than expands, it indicates that buyers are not yet strong enough to start a breakout, and aggressive sellers have mostly retreated.
Issue with meme coins like SHIBParticularly for meme coins that mainly rely on narrative and quick price growth to draw attention, low volatility tends to decrease visibility and interest. SHIB does not currently have that speculative fuel.
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The market is in balance: there is no clear catalyst, no strong trend and no breakout. The current configuration is noteworthy because the final move may become more explosive the longer SHIB stays steady at these levels.
During consolidation stages, liquidity grows quietly. The lack of overhead resistance in the immediate range allows the move to accelerate rapidly once a directional bias emerges, whether from a wider market recovery or a resurgence of meme coin rotation.
Hyperliquid: King of liquidityWith price action now firmly shifting into a sustained uptrend, Hyperliquid is getting close to a crucial technical and narrative turning point. HYPE, which is currently trading close to the mid-$40 range, has made a strong comeback from its early-year lows and is now pushing into a region that was once a significant distribution area.
HYPE/USDT Chart by TradingViewWith the 200-day serving as dynamic support rather than resistance, and the shorter-term averages curling upward, the price has broken above important moving averages. The ascending trendline is still respected, and higher lows and highs continue to form.
Although they are not yet in extreme territory, momentum indicators such as RSI are elevated, indicating strength without immediate exhaustion.
HYPE has been steadily increasing with comparatively controlled pullbacks, in contrast to many altcoins that spike and fade. This type of behavior usually indicates accumulation, as opposed to speculative spikes.
Center of altcoin rallyHyperliquid is becoming a central theme in contemporary altcoin narratives, rather than existing in a vacuum. Building or transferring liquidity into its ecosystem is a major component of high-volatility, high-interest projects.
More significantly, Hyperliquid now accounts for a sizable portion of decentralized trading infrastructure, which inevitably draws capital and users into the token's orbit. A feedback loop is produced as a result: increased activity increases liquidity, which draws in more traders and strengthens price stability and growth.
When you combine this with the fact that a number of well-known cryptocurrency personalities are actively promoting stories about Hyperliquid, you have a unique blend of social momentum and technical strength.
A continuation move driven by both breakout traders and narrative-driven inflows would probably occur if HYPE were able to surpass its prior highs.
Pressure on XRP increasingFollowing months of persistent bearish pressure, XRP is beginning to exhibit early indications of a structural recovery. The 50-day EMA, which has served as a dynamic ceiling since the start of the broader decline, was recently reclaimed by the asset after it broke through its first significant resistance level. This move indicates a change in short-term momentum rather than merely a random spike.
Source: XRPLedgerPrior to the breakout, price action has shifted from a pattern of lower highs into a more neutral structure, with consolidation tightening around the $1.35-$1.40 range. Buyers are starting to challenge overhead resistance rather than being rejected right away, as evidenced by the recent push toward $1.42-$1.43.
In theory, recovering the 50 EMA is frequently the initial stage of a potential trend reversal sequence. It indicates that early-stage accumulation is becoming more popular than persistent selling in the short term. The notion that bullish momentum is developing but has not yet reached an overheated state is supported by the RSI's upward movement into the upper midrange.
Context is important, though. The 100 and 200 EMAs, which continue to slope lower, are still below where XRP is trading. This indicates that the overall trend has not yet reversed. A local breakout is currently taking place within a broader bearish framework. Whether this action has the potential to continue is the crucial question.
The next resistance zone, which is currently where the 100 EMA is located at $1.50-$1.55, can be tested if XRP is able to stay above the recovered EMA and avoid a swift rejection back below $1.38-$1.40.
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
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US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
8 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
8 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
8 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
XRP continues to print bullish signals as momentum begins to shift in favor of the leading cryptocurrency, positioning its price for a big upsurge.
As the broad crypto market begins to show signs of a major recovery, XRP has gained the spotlight amid bullish predictions from market analysts.
XRP to hit $1.60?Popular crypto analyst Ali Martinez has just shared data, pointing to a tightening triangle pattern on the XRP hourly chart, which signals a further upside move for the asset.
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According to Martinez, the pattern printed on the chart could trigger a sharp 10% price move for XRP in the near future.
The analyst spotlighted XRP preparing for a decisive breakout as its price is seen hovering around the $1.42 and $1.43 mark, with immediate resistance levels seen near $1.44 and $1.45.
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Nonetheless, the chart further showed that support is holding around $1.41, with a stronger base forming closer to $1.39.
With the projected pattern, the analyst believes that a move beyond either boundary could put XRP on the verge of a sharp 10% price swing.
As of the time of writing, XRP is trading around $1.43 with a brief surge of about 0.37%. This means that the potential 10% surge could propel the asset to trade near $1.60 soon.
XRP community not surprisedThe bullish price prediction for XRP did not come as a surprise to the XRP community as many claimed that the asset is obviously set for a big price move which could even see it surge beyond 10%.
Other XRP traders claimed that such a technical setup is merely a routine signal and it requires confirmation with strong trading volume rather than being reactive.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
After failing to sustain its recent recovery, Ethereum is in troublesome state again. Near the $2,300-$2,400 resistance zone, where a declining trendline continues to limit upside attempts, price action clearly rejects the idea. ETH has begun to roll over rather than break out, returning to short-term support while trading below important moving averages. The structure is not strong.
Ethereum is still below the 200-day and 100-day averages, both of which are declining and supporting the overall negative trend. A brief base was created by the recent recovery from below-$2,000 levels, but it did not develop into a long-term uptrend.
ETH/USDT Chart by TradingViewA string of lower highs within a tightening range ensued, which usually resolves to the downside if buyers do not intervene with more conviction.
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A bullish scenario is not supported by volume behavior. Participation was inconsistent during the recovery phase, and recent declines are more active than upward trends. Even if the market is not in a complete capitulation phase, this imbalance implies that sellers are still more aggressive than buyers.
The focus has returned to the $2,000 level. Losing it would probably cause a change in attitude, because it served as a pivot during the previous rebound. Ethereum could move deeper toward the $1,800 area, which is where the next significant support is located, if it breaks below that threshold.
However, the market has not yet collapsed. Momentum indicators show that the price is not in oversold territory, and it is still holding above short-term local support around $2,200. This makes it possible to try stabilizing or even retesting resistance. But the upside is still constrained in the absence of a clear move above $2,400.
Ethereum is in a precarious position in terms of expectations. There is a greater chance that $2,000 will be revisited, particularly if the current structure keeps deteriorating. The way the market responds to the subsequent test will determine whether it breaks that level.
Dogecoin ready to break throughWith recent price action suggesting a possible psychological milestone, Dogecoin is gradually emerging from its protracted downtrend. DOGE has begun to stabilize above the $0.09 area after months of consistent decline, and it is currently moving toward the $0.10 threshold, which has both technical and sentimental significance. The structure is now better.
In contrast to the earlier series of lower highs and lower lows, the price is forming higher lows along a rising support line, resulting in a mild ascending trend. The move is consistent enough to imply that selling pressure is waning, even though it is not aggressive. The early phases of a trend transition are usually indicated by short-term moving averages flattening and starting to rise.
DOGE/USDT Chart by TradingViewThe larger context is still cautious, though. Dogecoin continues to trade below its main long-term moving averages. This indicates that the current movement is still a recovery phase rather than a confirmed uptrend, and the macro trend has not yet reversed.
The $0.10 level is a crucial test, since it is directly below a number of resistance zones, including the 100-day average. In keeping with the current narrative, the volume is moderate rather than explosive. The market is not experiencing heavy distribution, but it is also not seeing aggressive accumulation. This equilibrium encourages steady price growth as opposed to abrupt changes in either direction.
The concept of removing a zero is more perceptual than fundamental. A change in sentiment would be indicated by crossing above $0.10, which might pique retail interest once more. Particularly for highly narrative-driven assets like DOGE, that kind of attention frequently influences price action.
Dogecoin is getting close to a decision point in terms of expectations. A persistent rise above $0.10, supported by increasing volume, would strengthen the recovery structure and pave the way for higher resistance levels. If a breakthrough is not achieved, the current range will probably continue to be consolidated.
Shiba Inu's bounce is questionableNear $0.0000063, where price action is beginning to compress within a narrow ascending channel, Shiba Inu is getting closer to a technically significant zone. This structure indicates an attempt to stabilize following a protracted downtrend, but the overall context is still weak and reduces the likelihood of a significant breakout.
As of right now, SHIB is facing steady resistance just above the $0.0000065-$0.0000066 range, with higher lows forming along a rising support line. A breakout attempt usually follows this kind of formation, as the price tightens and volatility decreases. But the structure's quality counts, and in this instance, the underlying trend is still negative.
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The current price is below all major moving averages, which are still sloping downward. This produces a layered resistance environment where higher time frame levels will immediately put pressure on SHIB, even if it breaks out of the local channel. This considerably lowers the likelihood of long-term upside continuation.
Additionally, a strong bullish case is not supported by volume. Relatively low participation has coincided with recent upward movements, suggesting a lack of buyer conviction. Breakout attempts typically fail or produce brief spikes rather than trend reversals in the absence of a significant increase in volume.
However, the $0.000006 level is crucial structural and psychological support. This area has seen price reactions in the past, and the current structure may lead to a brief increase. The scope of such a move would be constrained, since it would probably be motivated by technical positioning rather than actual demand.
A small bounce is the most likely outcome from a probabilistic perspective, but there is little chance that it will turn into a long-term rally. Any upward movement is probably going to be limited unless there is a change in volume and momentum, because the overall trend is still intact.
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
8 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
8 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
8 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
8 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
After being compressed for months, Dogecoin is finally showing signs of life, but it's still not an ultra-bullish rally a lot of memecoin investors expect.
The unexpected recovery tempoThe price has moved into the $0.11-$0.12 zone, which is not merely a level, but rather a structural pivot that served as support before becoming resistance. Improved momentum, rising short-term moving averages, and a discernible increase in volume accompany the current push into this area. However, this is typically the point at which things become difficult.
DOGE/USDT Chart by TradingView$0.12 is the first level to focus on. The short-term structure shifts from a weak recovery to a possible trend shift with a clean break and hold above this zone. DOGE is currently testing it rather than recovering it. The next logical target is located between $0.135 and $0.14, where the previous breakdown structure and mid-range liquidity converge, if buyers are able to close above and defend it. That area is probably going to be the next significant barrier.
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Dogecoin's is still fragileBut if the breakout fails, which is not unlikely given DOGE's past performance, the drawbacks quickly become significant. The recent rising trendline and short-term moving averages are in line with the second important level, which is between $0.104 and $0.10. This region served as a base for the most recent consolidation. Losing it would indicate that the current move was not an attempt at a breakout, but rather just another lower high formation.
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Below that, there is a more crucial level between $0.095 and $0.09 that hasn't been tested in a long time. This is what really keeps the larger structure together. It indicates the floor of the multi-month accumulation range and the final point at which buyers regularly intervened. It is a reset of the entire move, not just a pullback, if the price rotates back there.
While momentum indicators suggest a short-term push, they also raise the possibility of overheating. RSI is getting close to overbought territory, which, when paired with resistance above, frequently results in either rejection or consolidation.
Thus, the structure is evident: the trigger is $0.12. If it breaks, DOGE can keep going. If it fails, the market will probably turn back toward $0.10, with $0.09 serving as the line that bulls cannot afford to cross in order to maintain any control.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Even though Zcash had one of the biggest rallies in the privacy coin market this month, the most recent candle structure indicates that the movement is beginning to wane. ZEC now appears to be printing a classic falling star setup on the daily chart after surging from the low $300 region to almost $700 in a matter of weeks. This is a warning sign that buyers may finally be tiring after an aggressive vertical breakout.
Before sellers intervened and forced repeated rejections close to local highs, ZEC pushed sharply higher into the $680 region. Long upper wicks and waning continuation momentum are common indicators of distribution rather than sound consolidation in the most recent candles.
ZEC/USDT Chart by TradingViewMeanwhile, momentum indicators are starting to decline. After being overheated for weeks, the RSI has begun to roll over, but it is still high near overbought territory. This kind of setup has historically been found close to local exhaustion zones, particularly following parabolic runs in which the price exceeds both organic spot demand and moving averages.
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The overall trend is still bullish for the time being, despite the warning indicators. The 20-day moving average is quickly rising beneath price action in the mid-$500 range, and ZEC is still trading well above all major moving averages. Given how aggressive the most recent trend reversal has been, the 50-day and 100-day moving averages have also recently completed bullish recoveries following months of weakness.
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However, vertical rallies seldom last forever without a reset. Bulls have a problem because momentum chasing, rather than steady accumulation, accounted for a large portion of ZEC's recent growth. Volume skyrocketed during the breakout phase, but as the price gets closer to historical resistance levels from previous cycles, follow-through buying has begun to thin out.
Due to their relatively thin liquidity when compared to larger-cap cryptocurrency assets, privacy coins also frequently undergo violent reversals once speculative momentum subsides. Pullbacks frequently become much sharper than anticipated when traders rotate out.
Right now, the key zone is around $600 to $620. ZEC may quickly retrace toward the 20-day moving average around $530 if buyers are unable to protect that area. The next significant support cluster is located between $430 and $450, close to the previous breakout area.
Toncoin's sharp correctionOne of the most significant technical zones that Toncoin has tested in months is drawing near. TON entered a sharp correction phase that almost immediately erased a significant portion of the rally after a violent breakout earlier in May pushed the asset close to $3.00.
Currently, the chart is right on top of a significant bullish boundary that could determine whether the recent breakout continues or ends in a total collapse. The key level is clear. After losing steam from its explosive spike, TON is now trading around the 200-day moving average in the $1.75-$1.80 range.
Recovering and maintaining above the 200-day average has historically been the difference between a sustained bearish trend and a long-term recovery. As of right now, the price is attempting to level off at that line. Because of this, this area is crucial for both bulls and bears.
The recent rally was very aggressive. Driven by significant volume expansion and speculative momentum, TON moved from about $1.30 to almost $2.90 in a short period of time. However, such vertical movements are rarely sustained without consolidation. Profit-taking struck hard as buyers ran out of energy close to the highs, forcing a quick unwind back toward the breakout base.
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The issue was the rapid decline in momentum. During the rally phase, RSI entered overheated territory and rolled over sharply. As TON retraced, volume also began to drop, indicating that the breakout frenzy had subsided considerably. Support is under more pressure as a result of the local top rejection, which also produced a lower high structure on shorter timeframes.
However, the overall structure is not yet entirely pessimistic. TON is still higher than the 50-day and 100-day moving averages, which both recently saw increases following months of declines. In comparison to the first quarter of this year, when TON spent months grinding lower in a persistent downtrend, the longer-term trend also significantly improved.
Whether buyers firmly defend the current boundary is what counts now. The correction may turn into a healthy retest prior to another continuation move higher if TON maintains its position above the 200-day moving average and reclaims the short-term trendline in the $1.95-$2.00 range. In that case, traders would probably start with the $2.40 area and then try again at the most recent highs.
Shiba Inu's momentum is yet to recoverAfter losing a crucial support structure that kept the token together for almost two months, Shiba Inu appears perilously close to a complete momentum reset. Short-term control has returned to sellers as a result of the recent breakdown from a rising channel, and the chart now suggests a potential volatility flush before any significant recovery attempt can start.
The technical damage is already evident. SHIB gradually recovered momentum from its March lows while grinding higher for weeks inside a narrow ascending formation. However, buyers consistently lost strength close to the 50-day moving average, where the structure collapsed. The breakdown was confirmed when SHIB fell below both the short-term moving average cluster and trendline support as soon as support broke.
SHIB/USDT Chart by TradingViewThat action is significant because the recovery structure as a whole relied on the gradual holding of higher lows. Rather, as momentum indicators continue to decline, SHIB now trades below the previous support channel. The RSI did not exhibit a significant bullish divergence and instead declined toward the lower border of neutral territory.
In other words, the market now views rallies as exit liquidity. Near the recent local lows in the $0.00000540-$0.00000550 range, traders are keeping a close eye on the next significant area. The chart suggests a deeper reset toward earlier accumulation levels from March if SHIB loses that zone decisively.
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That does not imply that a disastrous collapse is imminent. It probably indicates that after failing to maintain breakout momentum, SHIB needs a proper cooling-off period. These reset phases are common for meme assets following prolonged sideways compression. Before trend continuation is once again feasible, the market looks for a cleaner base, weak hands exit positions, and leverage is flushed out.
The catalyst required to quickly change sentiment is currently absent from SHIB. The 200-day moving average, which is still declining and reflects the larger macro weakness that has plagued SHIB for months, is still far below the token's price. Even the most recent attempt at recovery failed to completely turn the long-term structure in a bullish direction.
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
8 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
8 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
8 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
8 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
8 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
On-chain data indicates that SHIB exchange reserves are currently at about 80.03 trillion tokens, which has long served as a significant structural and psychological benchmark for the asset. The amount of SHIB held on exchanges may soon drop below 80 trillion for the first time if the current trend continues, which would represent a historic change in the supply dynamics of the token.
SHIB/USDT Chart by TradingViewThe total quantity of a cryptocurrency that is accessible on trading platforms is represented by exchange reserves. A decrease in reserves typically means that investors are taking assets off the market and putting them in private wallets instead of preparing to sell them immediately. This lowers the liquid supply and, if demand stays steady or rises, can foster favorable conditions for price appreciation.
The fact that the 80 trillion level has persisted for a significant portion of SHIB's recent history makes the current situation especially notable. There was significant overhang of potential selling pressure for years due to the massive amounts of SHIB that were parked on exchanges.
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According to the most recent data, exchange netflows are still largely balanced, and reserves are slightly above the threshold. Even though there are still inflows and outflows, the overall pattern suggests that the supply of available currency will gradually decline.
Stabilization is a question of time Technically speaking, SHIB is still under pressure. With a bearish structure above the 100-day and 200-day averages, the asset is still trading below its major moving averages. But right now, price action is trying to stabilize close to a crucial support trendline that has held several times over the previous few months.
Additionally, the Relative Strength Index has moved into oversold territory, suggesting that the selling momentum may be coming to an end. In the past, when oversold conditions coincide with improving on-chain fundamentals, SHIB has frequently produced robust rebounds.
The exchange reserve figure is a crucial development for investors to keep an eye on. The token's long-term bullish narrative could be strengthened by a confirmed decline below 80 trillion SHIB, which would indicate a historic contraction in available supply.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
As exchange inflows continue to pick up speed, Shiba Inu is under increasing pressure and is substantially close to a critical threshold that could reinforce the negative narrative surrounding the meme coin.
Shiba Inu stays pressuredThe most recent on-chain data shows that total exchange inflows have risen to over 407 billion SHIB, easily exceeding the 390 billion mark that traders had been keeping a careful eye on. Token holders may be more inclined to move their assets into liquid trading venues. However, this development is rarely seen as a bullish signal.
SHIB/USDT Chart by TradingViewThe quantity of cryptocurrency moved into exchange wallets is represented by exchange inflows. While inflows do not automatically result in selling activity, they increase the amount of readily available supply and often precede periods of heightened volatility. Bulls are even more concerned about the metric when it is coupled with declining price action.
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Over the past few sessions, the overall on-chain picture has changed significantly. A portion of the long-term decline that many investors saw as a favorable supply-side trend has been reversed, as exchange reserves have risen above 80.25 trillion SHIB. Exchange net flows, on the other hand, continue to be strongly positive, suggesting that more SHIB are entering exchanges than are leaving them.
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The increasing weakness is reflected in the technical outlook. A rising wedge structure that had sustained price action for the majority of the spring was recently broken by SHIB. The asset was forced back toward the lower end of its trading range by the breakdown, which invalidated recovery possibility. The token is still stuck below its 50-, 100-, and 200-day moving averages, indicating that sellers are still in control of the market structure.
Unlikeliness of a recoveryMomentum indicators are also not very helpful. The Relative Strength Index is still close to 36, indicating low demand and little enthusiasm for purchases. While the asset is approaching oversold territory, previous oversold readings during the current downtrend have failed to generate sustainable recoveries.
Currently, the most crucial level to keep an eye on is the support area around $0.0000054. Although the bulls have so far been able to defend it, support zones eventually deteriorate due to repeated testing. If sellers manage to break through this floor, SHIB may be in danger of losing even more value.
For the time being, increasing exchange reserves and inflows indicate that bears are in control. In the near future, SHIB's price performance may continue to be impacted by the recent increase in supply available on exchanges unless buying demand quickly returns.
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
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Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
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US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
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CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
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Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
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The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
A signal seems to be forming on the Cardano weekly chart that might be worth paying attention to. The MA 50 and 200 have met on the weekly chart and might cross in the coming weeks.
If the 50 WMA falls beneath the 200 WMA, a death cross will appear on the weekly chart. A golden cross, generally read as a bullish signal, occurs when the MA 50 crosses above the MA 200. The weekly MA 50 is turning down and is expected to go below the MA 200 in the coming weeks, increasing the likelihood of a death cross signal.
ADA/USD Weekly Chart, Image By: TradingViewThe last time Cardano had a death cross on its weekly chart was in December 2022. The death cross came after months of selling and occurred after ADA hit an all-time high of close to $3 in September 2021.
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The death cross saw ADA trade sideways in the following months, which could have hinted at a bottom in its price. Experienced traders view crossovers as lagging indicators; for example, ADA's price only saw a slight increase to $1.02 shortly after the emergence of a golden cross on Cardano's weekly chart in July 2025. The price rise was followed by selling, which persists.
Cardano sinks to multi-year lowsCardano fell to a low of $0.148 last seen in December 2020, owing to week-long selling in the broader crypto market and concerns in the Cardano ecosystem.
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Cardano founder Charles Hoskinson warned of failures in the crypto ecosystem amid the current bear market. "We stand at a precipice as an ecosystem," Hoskinson said in a video where he stated he wasn't leaving, after he had earlier stated that he was "taking a break."
Oversold readings are beginning to appear across momentum indicators for Cardano, but there remains no convincing evidence of a sustained reversal.
If history repeats and Cardano confirms a bottom in the aftermath of the death cross, ADA will eye a return to the $0.2 and $0.3 levels. On the contrary, support is expected in the $0.1 range if current declines persist.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
It's possible that Shiba Inu is about to reach a significant on-chain milestone that could drastically change the market dynamics.
The amount of SHIB held across exchange wallets has decreased to about 80.03 trillion tokens, according to the most recent exchange reserve data, putting the psychologically significant 80 trillion threshold within striking distance. Exchange-held supply is currently at one of its lowest points in recent memory, following years of slow distribution. It is hard to overestimate the importance of this trend.
Shiba Inu's exchange compositionThe quantity of cryptocurrency that is easily sold on trading platforms is represented by exchange reserves. A decrease in reserves typically indicates that investors are transferring assets into long-term storage, private wallets, or staking solutions rather than keeping them accessible for quick liquidation.
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SHIB/USDT Chart by TradingViewAccording to the most recent data, exchange reserves have decreased by an additional 0.06% in the past day. Even though that might not seem like much, when dealing with a supply of trillions of tokens, the cumulative effect is significant.
Exchange netflow, at about -51.47 billion SHIB, is still significantly negative. Simply put, there are still more SHIB leaving exchanges than entering them. Despite the recent weakness in price action, this continuous outflow trend indicates that market participants are still taking tokens out.
Technically speaking, SHIB continues to face significant challenges. The asset recently broke down from an ascending channel that had been forming since March. After that breakdown, SHIB rapidly moved toward the $0.0000045 area after losing support around the $0.0000055 region.
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The price is still below the 50-, 100-, and 200-day moving averages, indicating that the general trend is still negative. But momentum indicators are starting to show otherwise.
Seller are becoming weakerAt near 25, which has historically been linked to seller exhaustion, the Relative Strength Index has entered extremely oversold territory. Relief rallies in SHIB have frequently been preceded by comparable RSI readings.
This makes for an intriguing setup. Technically speaking, the chart is still lacking. However, exchange reserves are still declining and are on the verge of falling below 80 trillion for the first time.
Another significant decrease in the available exchange supply would occur if that threshold is crossed. Lower reserves limit the quantity of SHIB that can be sold right away into the market, but they do not by themselves ensure higher prices.
One of the most significant bullish developments SHIB holders have seen in months may be the impending breach of the 80 trillion reserve level when combined with oversold conditions and ongoing exchange outflows.
"DOGE is on a good level for accumulation," one popular X user claimed.
DOGE has fared poorly over the past months, mirroring the bearish conditions of the broader crypto market and the waning interest in the meme coin sector.
Nonetheless, numerous analysts remain bullish that a major pump could be on the way.
The Possible Catalyst The OG meme coin has collapsed well below $0.10, yet it now trades above $0.081. This level is specifically important to the popular analyst Ali Martinez, who described it as “the lower mid-range boundary” of a five-year parallel channel activity since 2021.
He argued that, since its inception, Dogecoin has progressed through multi-year consolidation channels before entering bull markets, and that holding beyond that mark could create the conditions for another “parabolic move.”
This isn’t the first time Martinez has commented on DOGE this week. He revealed that the Tom DeMark Sequential indicator flashed a buy signal on the asset, suggesting a rebound could be on the horizon. It is important to note that this technical analysis tool successfully predicted Dogecoin’s correction in early May when the price slipped from $0.113 to $0.078.
Other market observers who foresee a bright future for the coin include Trader Tardigrade and MikybullCrypto. The former opined that “Doge season is ahead of us,” whereas the latter sees the ongoing levels as a strong accumulation zone.
Prior to that, MikybullCrypto claimed that DOGE has reached a level that triggers “a massive rally” to a new all-time high. They envisioned an explosion to as high as $2.50, which at the moment seems a bit unrealistic (to say the least). After all, it would require the meme coin’s market capitalization to skyrocket above $360 billion – a figure currently surpassed only by Bitcoin (BTC).
You may also like: Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Could Dogecoin (DOGE) Be Setting Up for Its Next Big Move? Analysts Think So ‘Dead Meme’ or Major Opportunity? DOGE Is Flashing The Same Signal That Preceded Its Biggest Rallies Whales and More The recent behavior of large investors further strengthens the bullish case. As CryptoPotato reported, these market players acquired 200 million DOGE in just a week, potentially positioning themselves for the next upward move. Their actions could encourage smaller investors to follow suit and distribute fresh capital into the ecosystem.
Next on the list is DOGE’s exchange netflow. Data show that outflows have dominated inflows over the last several weeks, suggesting that investors have abandoned centralized platforms in favor of self-custody methods, thereby reducing immediate selling pressure.
XRP is about to enter a phase known as extreme volatility compression, which traders frequently consider more hazardous than direct selling pressure.
The asset has stopped making significant directional movements and entered a tight consolidation range after losing the crucial $1.32 support level and collapsing toward the $1.10 region. On the surface, that might seem stable, but history indicates that these times are rarely long-lasting.
XRP/USDT Chart by TradingViewThe daily chart displays XRP trading close to $1.14 following a dramatic break from a months-long descending triangle pattern. The asset fell well below its major moving averages due to the breakdown, which also caused a spike in volume.
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However, volatility has quickly decreased since then. Volume has decreased in comparison to the capitulation spike, daily candles have shrunk significantly, and price action has narrowed into a small range. This combination usually indicates that buyers and sellers are temporarily worn out.
The issue is that volatility expansion typically comes after volatility compression. Put another way, the more stable XRP gets, the more probable it is that a significant move is in the works.
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As of right now, XRP is still below the downward-sloping 50-, 100-, and 200-day moving averages. Therefore, bears are still favored by the technical framework. The 100-day moving average near $1.38 adds another barrier overhead, and the former support zone around $1.32 has now developed into a significant resistance level.
The current low of $1.08 is still the crucial level to keep an eye on on the downside. Another wave of liquidations might occur if sellers push XRP below that support and volatility resumes. On the other hand, after weeks of consistent weakness, a breakout above $1.22 would be the first sign that buyers are taking back control.
Due to the lack of conviction on both sides of the market, the RSI has recovered from oversold territory and is currently in neutral conditions. This neutrality strengthens the notion that XRP is awaiting a catalyst.
Extremely low volatility periods frequently give people a false sense of security. The present calm should not be interpreted as stability for XRP. The market is coiling following a significant breakdown, and the likelihood that the next move will be aggressive increases with the length of time volatility is suppressed.
Cardano pushed to the limitFollowing a violent selloff that drove the asset below a crucial support zone that had been in place since February, Cardano has entered one of its most oversold conditions in months.
Investors are wondering if the market has finally reached a bottom, as ADA is currently trading close to $0.17 after losing nearly 30% of its value in just a few days.
It's still a difficult technical picture. The long-standing support level at $0.24, which had repeatedly stopped deeper declines throughout the spring, was recently breached by ADA. Selling pressure quickly increased after that support failed, setting off a chain reaction of liquidations and panic exits.
ADA/USDT Chart by TradingViewAs a result, there was a sharp decline and a notable increase in trading volume, which is frequently an indication of capitulation.
It's interesting to note that the Relative Strength Index is now extremely oversold. In the past, Cardano seldom stays at such low momentum readings for long. Oversold conditions frequently precede at least a brief relief rally, as sellers start to exhaust themselves, even though they do not by themselves guarantee a reversal.
Stabilization above the recent low around $0.15 would be the first sign that ADA has found recovery ground. Thus far, there has been a slight recovery, as buyers have intervened in that area.
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The question of whether that bounce can turn into a long-term recovery or just turn into another dead-cat bounce within a broader downtrend is now a crucial test for the market.
The first resistance is located around $0.20, close to the 50-day moving average, should buyers gain momentum. After that, ADA encounters a much bigger obstacle between $0.23 and $0.25, where the previous support area now becomes resistance.
Regaining that area would significantly improve the situation and imply that the recent breakdown was an overreaction rather than the beginning of yet another significant decline.
But bears are still in charge for the time being. The fact that ADA is still trading below its 50-, 100-, and 200-day moving averages indicates that the overall trend is still strongly negative.
XRP's fuel decreasesXRP is about to enter a phase of solid volatility compression, which traders frequently consider more hazardous than direct selling pressure.
The asset has stopped making significant directional movements and entered a tight consolidation range after losing the crucial $1.32 support level and collapsing toward the $1.10 region. On the surface, that might seem stable, but history indicates that these times are rarely long-lasting.
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The daily chart displays XRP trading close to $1.14 following a dramatic break from a months-long descending triangle pattern. The asset fell well below its major moving averages due to the breakdown, which also caused a spike in volume.
However, volatility has quickly decreased since then. Volume has decreased in comparison to the capitulation spike, daily candles have shrunk significantly, and price action has narrowed into a small range. This combination usually indicates that buyers and sellers are temporarily worn out.
The issue is that volatility expansion typically comes after volatility compression. Put another way, the more stable XRP gets, the more probable it is that a significant move is in the works.
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As of right now, XRP is still below the downward-sloping 50-, 100-, and 200-day moving averages. Therefore, bears are still favored by the technical framework. The 100-day moving average near $1.38 adds another barrier overhead, and the former support zone around $1.32 has now developed into a significant resistance level.
The current low of $1.08 is still the crucial level to keep an eye on on the downside. Another wave of liquidations might occur if sellers push XRP below that support and volatility resumes. On the other hand, after weeks of consistent weakness, a breakout above $1.22 would be the first sign that buyers are taking back control.
Due to the lack of conviction on both sides of the market, the RSI has recovered from oversold territory and is currently in neutral conditions. This neutrality strengthens the notion that XRP is awaiting a catalyst.
Extremely low volatility periods frequently give people a false sense of security. The calm should not be interpreted as stability for XRP. The market is coiling following a significant breakdown, and the likelihood that the next move will be aggressive increases with the length of time volatility is suppressed.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Stellar (XLM) is eyeing its first major golden cross of the year. The MA 50 has touched the MA 200 on the daily chart, with traders now watching for a crossover in the coming days.
If the MA 50 crosses above the MA 200, this will confirm a golden cross, and vice versa will imply a death cross, which is a bearish signal.
Given the current setup and with the MA 50 trending upwards, it is more likely that a golden cross will emerge.
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Stellar saw a significant increase as positive developments boosted its price, which is up 47.3% in the last 30 days. A golden cross signal on the XLM price chart will mark the first of its kind in 2026, with the last one occurring in July 2025.
XLM/USD Daily Chart, Image By: TradingViewThe last golden cross for Stellar coincided with overbought conditions. XLM had rallied before it, and the golden cross appeared shortly after it rose to $0.52 in July 2025. The weeks that followed saw a drop in XLM price.
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This mirrors the current setup, with XLM seeing a sharp surge to $0.297 at May's close before retreating. It will be watched whether the incoming golden cross will continue XLM's price surge or whether the current profit-taking continues.
How XLM holds above its daily Moving Averages 50 and 200 will be watched, as this will help sustain its current uptrend, with the potential to retest $0.3.
Stellar's new developmentsMajor crypto exchange Binance is set to expand the list of trading choices offered on its Spot trading platform with two new Stellar (XLM) pairs scheduled for listing. Binance will open trading for XLM/U and XLM/USD1 trading pairs on July 23 at 08:00 (UTC). The move, Binance says, will enhance users' trading experience.
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In addition, Binance will enable Trading Bots services for Spot Algo Orders of XLM/U and XLM/USD1.
Stellar (XLM) eyes July date for key upgrade: Zipper (Protocol 27), which adds authentication delegation for custom accounts and address-bound Soroban address credentials, is set to launch in early July. July 8, 2026 has been earmarked for the mainnet upgrade vote, occurring after the testnet upgrade.
HodlX Guest Post Submit Your Post A core ideology in the cryptocurrency space is a consistent commitment to privacy. But until privacy coins deliver easy-to-use, efficient solutions at scale, privacy will remain a privilege reserved for the crypto-savvy.
For individuals seeking to reject government or other third-party surveillance in their financial and business dealings, end-to-end encryption is a must. However, privacy coins universally lack a comprehensive approach that can aid users in performing other necessary functions like private messaging, file sharing, and data messaging.
Monero is routinely seen as the gold standard of the privacy niche, and for good reason. It’s the longest running of the major contenders, boasts the largest market cap, and has successfully protected XMR transactions from unwanted eyes for years. But that hasn’t stopped Monero users from being identified and reprimanded, over and over again.
Now, the purpose is not to condone criminal behavior, or argue over what constitutes a crime – criminals should be arrested. But the fact that individuals using Monero for illicit purposes are routinely uncovered and detained suggests that XMR isn’t adequately serving its users. By tracking on-ramps in and out of Monero, channels of communication, web activity, and so on, Monero users can forfeit their anonymity even if they use the coin exactly as intended.
The recent Monero website hack, in which a malicious actor planted a coin stealer on the site, proves that anyone can be tampered with, despite how knowledgeable they are of crypto. Centralized solutions in use alongside Monero and other privacy coins aren’t perfect, as the massive, recent NordVPN hack highlights.
And if we take a step further back, how accessible is Monero itself to the average individual? Despite over a decade of existence, cryptocurrency across the board is incredibly inaccessible for the average individual. XMR and coins like it carry an even larger learning curve. Realistically, what percentage of the population is equipped to properly utilize Monero and supplementary services to adequately protect their anonymity? I’d argue the figure is well below 1%. And with the ongoing trend of exchanges delisting the “purely privacy” coins, that figure may continue to dip lower still.
For privacy coins to carry out their intended purpose, they need to build out comprehensive, user-friendly applications that average Joe can wrap his head around.
Opal Coin: Before Its Time
A holistic approach to privacy isn’t a foreign concept to the niche. Once upon a time, there was a little known privacy coin by the name of Opal. Launched in 2014, Opal was situated as a suite of privacy utilities that were all housed in the Opal wallet. Alongside hidden addresses and shielded transactions typical of most privacy coins, you could also partake in on-chain private messaging. From a single location, you could negotiate dealings and settle transactions in a completely decentralized, secure manner.
Unfortunately, this philosophy wasn’t widely regarded as necessary for the privacy space. Although there were other intended features to encompass within the wallet, development largely dried up within the next year as the team and community pursued different ventures. For all intents and purposes, Opal and “holistic privacy” were good as dead.
Broadening Utility
Either in response to Monero, or as a reflection of the growth of the industry as a whole, there are a number of competing privacy coins that do emphasize greater utillity. Zcash is perhaps the most appropriate example. Like Monero, Zcash is sufficiently private for users looking to deal in encrypted currency transactions.
However, Zcash broadens the scope of its “transactions” through the incorporation of private smart contracts. Smart contracts are the industry standard for the nuanced transaction of data on-chain. When applied to a privacy coin, this means users can deal in much more than just units of currency: they can store files, lock currency, establish escrow, alongside more nuanced potential applications like decentralized autonomous organizations.
Zcash also employs “flexible privacy”. Users can opt for public transactions, which may be necessary for auditing and compliance purposes. They can similarly verify activity through zk-SNARKs without revealing contents. In order for privacy coins to see legitimate usage at the global scale, they must encompass these broader functionalities.
Overcoming the Impossible Trinity
There is currently an “impossible trinity” of utility, sufficient privacy, and scalability that privacy coins across the boards are succumbing to. Most projects are building out under the preconceived notion that only two of these qualities can be appeased.
Monero is sufficiently private and scales well enough, but lacks utility for more comprehensive use per the possibilities suggested above. Grin has taken the same approach. Verge is quick and offers several features, but does so at the sacrifice of the adequacy of the privacy it encompasses. Zcash is pushing towards utility, and many will agree ZEC is sufficiently private, but the resources required for various privacy activities, like contracts, suggests the network won’t succeed at worldwide scale.
Enigma is one project looking to overcome this “impossible trinity” at the application layer. The functionality of Enigma reflects the ability to use “secret contracts” across existing blockchain networks. In essence, this will allow users to transmit and interact with data on-chain in a secure, untraceable manner.
Essentially, Enigma is providing the “privacy” for networks that otherwise embody utility and scalability. As major chains like Ethereum and Bitcoin continue to improve and evolve, the impact Engima enables as its underlying chains become more capable similarly grows.
At the protocol level, Beam is also taking on a more comprehensive approach. Like Grin, Beam is constricted by its MimbleWimble architecture, which confines network activity as solely currency transactions. Unlike Grin, however, Beam has placed ample resources and capital to broaden the utility and usability of the project.
While Grin continues to be very barebones, with users relying on a spartan command line wallet, Beam is putting a major emphasis on usability. They’ve built interactive wallets on a number of platforms, and atomic swap capabilities provide users more autonomy in bringing funds on-and-off Beam, without as much reliance on exchange offerings. Additional features like tokenized assets in the pipeline, combined with interoperability initiatives, further expand the utility of the coin.
Lastly, a newer contender, Stegos, has an ambitious bottom-up approach that may prove fruitful for the broader niche. Like Grin and Beam, Stegos utilizes aggressive transaction pruning for a far more lightweight, scalable blockchain. But beyond that, Stegos approach is a direct opposite: instead of completely restricting the functionality of transactions, Stegos expands network activity to broaden transactions as a system for fast data messaging.
In the same capacity that an amount of tokens can be sent, users can similarly send messages, like Opal, alongside media, data, and whatever else. The team is looking to create a one-stop mobile app that will allow users to participate in encrypted, on-chain messaging, and interact with network dapps. This is only possible because the network is lightweight enough for smartphones to act as full nodes, which enables them to whichever functionalities are available for desktop alternatives.
An Innovative Future
The above coins, along with other initiatives that make up the privacy players of the current generation of “blockchain 3.0”, suggest that the usability solution in the niche is a matter of “when,” rather than “if”. The future should be private. Down the road, everyone will be able to maintain complete digital anonymity through the utilization of privacy coins.
How far out we are will only be revealed with time. All will depend on when projects across the board shift their approach to focusing on how to build a platform that can do it all properly. The current philosophy of figuring out the best way to do what is possible through existing infrastructure is a fruitless endeavor.
PIVX, a minor privacy coin, has announced plans to adopt Zcash’s Sapling protocol.
Sapling will provide PIVX with greater transaction performance. It will also offer shielded and unshielded transactions side by side, giving users optional privacy. Finally, Sapling will separate viewing and spending keys, allowing users to look at transaction details without compromising their accounts.
PIVX will specifically use a variant of Sapling that features Groth16. This variant was chosen due to the fact that it has a proven track record and has undergone plenty of due diligence.
The feature will be introduced as part of PIVX’s 5.0 core wallet upgrade later this year.
Changing Privacy Standards Until now, PIVX has relied on Zerocoin as its privacy protocol.
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Unfortunately, Zerocoin faced an issue last year that allowed attackers to freely mint coins. Though the problem did not affect PIVX holders directly, the team has expressed the desire for a more secure system:
“PIVX had a tough year last year due to the unexpected Zerocoin protocol issues [and we] worked very hard to ensure all zerocoins were accounted for making every holder of PIVX whole.
This updated protocol from the Zcash team will allow PIVX to regain privacy at a higher level that is well recognized by the cryptographic community.”
As PIVX notes, this is the first time a blockchain not based on Zcash has adopted Sapling.
So far, only Zcash and its forks have done so. Horizen, for example, partially introduced Sapling in 2019. Likewise, Ycash inherited Sapling by default when it forked from Zcash in 2019.
Despite Sapling’s relative popularity, there are several other privacy coin standards, including Mimblewimble, CryptoNote, bulletproofs, and more. This makes Sapling far from universal.
PIVX on the Decline? PIVX is notable for being one of the few privacy coins that relies on a proof-of-stake consensus mechanism.
This means that PIVX holders can earn interest without dedicating any computer power.
By contrast, many privacy coins rely on mining. This is true of Monero, Zcash, Verge, and Mimblewimble-based privacy coins like Grin and Beam. Dash does allow masternode staking, but it only offers coin mixing; it does not truly hide transaction data as most privacy coins do.
Despite PIVX’s distinctive staking feature, it has fallen through the ranks. PIVX reached the height of its popularity in April 2017, at which time it had a $100 million market cap and was the 10th largest coin.
Now, PIVX is the 156th largest coin, and it has a market cap of just $20 million.
Time will tell if the coin’s ongoing improvements will allow it to make a comeback.
Edited Mar. 15 to correct PIVX’s April 2017 market ranking.
Disclosure: This article was edited by Mike Dalton. For more information on how we create and review content, see our Editorial Policy.
Reserve Rights token RSR is on a short price drop from $0.0197 to $0.017. The token price rose 100% this week after Trump picked Paul Atkins as the US SEC chair. In line with Bitcoin’s price rally, several altcoins are recording new highs on the crypto market. With new all-time high prices of overall crypto market capitalization and the largest cryptocurrency, Bitcoin, the crypto community is fully awake to grab next tokens with growth potential. On the other hand, political announcements from the US are also influencing crypto to a large extent.
Reserve Protocol’s Reserve Rights (RSR) token recorded 160% monthly and around 100% weekly gains. The token price dropped slightly from $0.197 to almost $0.176 when a whale transferred 680 million RSR tokens to Binance Deposit. As a result, investors are suspecting that it is a planned price dump.
The RSR token price was trading near the $0.009 price range at the beginning of the week. When rumors of Donald Trump nominating Paul Atkins as the US SEC chair started circulating on Dec 3, the RSR token price witnessed a significant price surge to as high as $0.0266.
Since then, the token price is on an uptrend with slight price declines in between. The RSR Market cap is $972.49 million with a 7% rise and the trading volume $366M witnessed a 12% surge in the last 24 hours.
Is the RSR Token Going to be Dumped? As per the latest data from on-chain tracking platform, Arkham Intelligence, a whale deposited a whopping 680 million RSR tokens to Binance. Right when this transaction took place, the RSR token price went on a downtrend until the price hit $0.017. As a result, investors are suspecting that there might be a price dump of the RSR token.
However, as we witness with any crypto market price, when there is a significant price surge because of market news and big announcements, there is going to be a price correction. That could also be a possibility with the current slight price decline of the RSR token.
Nonetheless, the RSR token is trading at around $0.018 at press time, with 7% daily gains despite the price decline. Its more than 12% rise in trading volume indicates a further price surge of the RSR token. With the ongoing bull run, there is a high possibility of price surges in multiple altcoins, including memecoins and low-cap cryptocurrencies.
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Dash leads a sharp rally in privacy coins as Monero, Zcash, Verge and Horizen bounce from support, with thin liquidity magnifying moves versus Bitcoin and Ethereum.
Summary
Dash hit fresh short‑term highs, outpacing Monero and Zcash as privacy‑focused tokens from Verge to Horizen logged intraday gains amid renewed sector interest. Technicals show Dash and Monero breaking higher on strong volume toward nearby resistance zones, with traders eyeing round‑number targets if momentum extends. Analysts warn that thin liquidity versus Bitcoin and Ethereum leaves Dash, Monero and peers vulnerable to sharp reversals even as bulls reclaim key support levels. Dash price reached new highs in the past 24 hours, leading a rally among privacy-focused cryptocurrencies, according to market data. Monero also advanced as the privacy coin sector registered gains.
Privacy coins gain momentum after Dubai crackdown Dash (DASH) outpaced both Monero (XMR) and Zcash (ZEC) during the rally. Dash and Monero prices rose early Tuesday as privacy-focused tokens registered fresh gains. Zcash, which has declined in recent weeks, also showed renewed strength. Other coins, including Verge and Horizen, posted intraday gains. The upswing in the privacy coin segment occurred amid broader market volatility, with Bitcoin and Ethereum positioned at key price levels.
Dash traded higher as price action indicated increased buying pressure, reflected in a surge in 24-hour trading volume. Technical analysis shows near-term support in a lower range, while a resistance cluster has formed above current levels. A break above the resistance cluster could lead to a potential breakout, according to market observers.
Monero has gained attention among privacy-focused cryptocurrencies at the start of the year, even as Zcash led the sector through much of last year. Market focus has shifted toward Monero, which is regarded as a benchmark for transaction privacy due to its default use of obfuscation techniques. The token has rallied over the past 24 hours, accompanied by a surge in trading volumes, indicating strong market participation.
From a technical perspective, traders are monitoring whether momentum can carry prices higher. Support is identified below current levels. If the rally extends, market participants are watching a higher range as a potential next area of resistance, with a round-number level emerging as a longer-term upside target.
Analysts noted that liquidity in the privacy coin segment remains relatively thin compared with major cryptocurrencies such as Bitcoin and Ethereum. As a result, assets including Dash and Monero are more susceptible to sharp price swings. Privacy-focused tokens have begun to reclaim key technical levels amid renewed investor interest, raising the possibility that bullish momentum could continue. Alongside Dash, Monero, and Zcash, traders are monitoring Verge and Horizen for further signals from the sector.
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There have been several 51 percent attacks on the proof-of-work (PoW) consensus protocol since it was first proposed a decade ago. Although the Bitcoin blockchain has never been hijacked due to the astronomical power of all computers within the network, the PoW used on other blockchain-based projects like Bitcoin Gold, Litecoin Cash, ZenCash, Verge, or Ethereum Classic, and others haven’t managed to stand the test of time.
Infamous 51% attacks on the PoW consensus algorithm
A 51 percent attack can happen when a miner, or a group of miners, gets in control of over 50 percent of the mining power within a network, known as hash power or hash rate. On the Bitcoin blockchain, the hashing uses the SHA-256 algorithm whereas Ethereum uses ‘Ethash’ and Litecoin uses the ‘scrypt’. One of last year’s most infamous attacks on a PoW-based blockchain was Bitcoin Gold. Using superior computation power, hackers falsified the ledger of the currency, stealing almost $18 million.
ZenCash, a cryptocurrency based on a PoW Equihash mining algorithm, also experienced a 51 percent attack. The attacker reorganized the blockchain, managing to reverse 38 blocks and enabling double spending on two major transactions totaling $550,000.
A PoW consensus that can stand a 51% attack
Amid a series of attacks on the PoW consensus throughout 2018, the ILCOIN project launched an improved version of PoW, deemed as a command chain protocol (C2P). C2P implements bulletproof rules and regulations in the source code to either permit or restrict different activities. Due to the centralized nature of the ILCOIN blockchain, which uses the SHA-256 technology of Bitcoin, the development team at ILCOIN can fully control any corruption attempts on the network, including double spendings and rollbacks.
C2P incorporates three security layers that altogether create an improved environment for end users. According to mentions in the whitepaper, “C2P is the actual next step of security in the cryptocurrency world, in order to turn down the page for all the non-ethical hackers who always try to take advantage on some back doors for some faulty codes, or lack of hashing power, for example, and in the same moment hurt a specific cryptocurrency and the trust of still cutting-edge technology.”
A better Bitcoin with bulletproof technology against hacks
Committed to building and developing a digital currency-based ecosystem for its growing community, ILCOIN aims to become a better Bitcoin; a high-quality cryptocurrency that can stand a 51 percent attack successfully. To perfect the security of its blockchain, ILCOIN made it quantum resistant.
First, the team analyzed former attacks against different chains. After concluding that no existing protocol is secure enough to withstand a 51 percent attack, they developed new rules and completely changed their blockchain. So-called “admiral” nodes within the CPA protocol sign every block, and if the block isn’t signed by the Master Node, it instantly becomes invalid. Regardless of the hash rate, it would be impossible to forge a block and initiate an attack on the network because the Admiral Node will not sign the block. The unique blocking mechanism prevents hackers from stealing ILC coins, as well as spending in case users lose their wallets.
Armed with a sustainable tech stack and a forward-thinking development team, ILCOIN lays ambitious plans for 2019 – to become the first project to implement smart contracts within its C2P; and potentially, be the first cryptocurrency using the SHA-256 consensus algorithm to achieve its mission of increasing security without compromising blockchain speed.
Bitcoin Gold, a minor fork of Bitcoin, fell victim to a 51% attack last week, according to an independent report on GitHub.
Bitcoin Gold’s Low Hashrate to Blame As explained by Vertcoin maintainer James Lovejoy, the cryptocurrency suffered two deep reorganizations on Thursday, Jan. 23 and Friday, Jan. 24.
By buying out the blockchain network’s hashrate, attackers were able to steal approximately 7,000 BTG ($72,000) through double spending.
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Bitcoin Gold appears to be an easy target due to its low hashrate. Lovejoy suggests that the attack would have cost about $1,700 based on current Nicehash prices. Similarly, Crypto51 suggests it would cost about $700 to attack the blockchain.
The attacker succeeded in moving the stolen cryptocurrency to Binance, and may have succeeded in cashing out the stolen funds. However, Binance has also increased its withdrawal times for Bitcoin Gold to prevent future thefts.
This is not the first time that Bitcoin Gold has suffered a 51% attack: it was previously hacked for $18 million in May 2018, which led several exchanges to delist the coin.
Bitcoin Gold isn’t the only blockchain that has fallen victim to an attack. Lovejoy detected a similar attack on Vertcoin in December. He also discovered attacks on Expanse and Litecoin Cash over the course of 2019.
Other blockchains that have been targeted by 51% attacks in recent years include Ethereum Classic, Verge, and Feathercoin.
Disclosure: This article was edited by Mike Dalton. For more information on how we create and review content, see our Editorial Policy.
Binance will delist BAR, PIVX, and XVG from its leveraged lending and borrowing services.
PANews reported on April 14 that, according to an official announcement, Binance will cease margin trading and delist the following cryptocurrencies at 14:00 (UTC+8) on April 17, 2026: FC Barcelona Fan Token BAR (BAR), PIVX (PIVX), and Verge (XVG).
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While most people consider every cryptocurrency transaction anonymous, that’s not the case. Bitcoin, for example, has all transactions recorded on a public ledger, which can be easily accessed. In theory and practice, it’s entirely possible to associate a Bitcoin address with an individual, especially if he has ever used a cryptocurrency exchange, which requires identity verification.
However, the apparent need for a fully anonymous payment option ultimately led to the creation of such, called privacy coins. During this week, turbulent movements, a lot of them recorded serious gains, and it’s perhaps to have a closer look.
What Are Privacy Coins? Privacy coins conceal all the information from both the sender and the recipient. They don’t provide any data on the amount of the transaction when they take place and ultimately leave absolutely no traces or records behind.
With this being said, a lot of people consider that privacy coins are generally used by criminals since the transactions are untraceable. One valid example here may come from the kidnapping of a Norwegian multimillionaire’s wife last year. The perpetrators reportedly requested a ransom for $10 million to be paid in one of the most popular private coins – Monero.
However, this report from Q2 2019 indicates otherwise. It examines cryptocurrencies’ involvement in illegal activities, and it concludes that privacy coins are responsible for just around 4% of all similar transactions.
A more popular usage is the basic need of most regular people to protect their anonymity from central authorities and governments. This is where the demand for such coins surfaced in the first place.
Notable Privacy Coins Examples As with most cryptocurrencies, there are already several well-established privacy coins in the market.
Monero is one of the most popular at the moment. It’s also one of the largest cryptocurrencies, as it’s currently situated in 11th place. Besides, it has received a lot of widespread adoption with many different outlets.
Dash is another prominent example of such a coin, which is based on Bitcoin’s software. It continues to grow over the years, and just recently, it partnered with Burger King Venezuela. Dash will be offered in 40 different locations where people can use it to purchase burgers, for instance. Its price also reacted accordingly and surged with over 80% in a day.
Dash: Focusing On Real Solutions Cryptopotato recently had the opportunity to speak with Dash Core’s Business Development Manager for LatAm, Ernesto Escalona, regarding the price movements and company’s updates. He talked about the recently released Dash Platform on EvoNet, which is a “technology stack for building decentralized applications on the Dash network.” He also mentioned Venezuela’s adoption that adds further real usage for Dash.
“We believe the recent positive price action is a reflection of Dash constantly working on fundamentals to allow real use of cryptocurrency. […] So getting cutting edge technology deployed, and focusing on real solutions seems to be getting the attention in 2020, and we will keep working to make real adoption happen!”
As a response to the above, the Dash team added that they are a “user-centric coin with a privacy feature on one wallet and not a privacy coin.”
Zcash falls under the category of privacy coins. The company is behind the Zk-SNARK protocol, which a part of the zero-knowledge proof system. Moreover, it was also recently endorsed by the famous whistleblower Edward Snowden.
A lot of people wonder why I like #Zcash despite the Founder’s Reward. Here’s a reason: that tax funds a quality team that catches and kills serious bugs in-house, before they get exploited. Some other projects learn about bugs like this only AFTER people have lost money. http://t.co/i9MD1CpeNx
— Edward Snowden (@Snowden) February 5, 2019
Other examples for privacy coins are Horizen (ZEN), Verge (XVG), Bytecoin (BCN)< Zcoin (XZC), PIVX (PIVX), and more.
Pricing History Naturally, one can’t overlook the price for a particular coin, especially if he considers taking advantage of their potential as an investment, rather than transmitting payments.
By looking at all charts, one can get some general and conclusive information on how all privacy coins were handling the different trends. For example, during the parabolic price increase of late 2017 and early 2018, all of them reached their respective all-time high (similarly to most cryptocurrencies that existed back then.)
Monero (XMR) was to almost $500, while Dash hit $1,642 in December 2017. Then came the price crash, and all of them followed closely. Just for reference, XMR noted a 92% decline to $42 in late 2018, while DASH’s drop was 96% to $63.
Is The Positive Privacy Coin Trend Back? Despite the price crashes of 2018, most of them appear to be on an extremely positive trend as of the last few weeks. XMR recorded a 10% increase in the previous seven days. Zcash posted 66% gains, and Zcoin was up with 60% in the same timeframe.
Dash managed to surge by 140% to about $125. Besides, DASH entered the top 10 currencies by market cap at one point but it retraced since then.
These movements had the crypto community speculating on whether or not privacy coins are returning to the grand scene. They had a significant role during the previous major bull cycle, and some consider their latest increases as an indication that another one is to come. While it may be too early to conclude this theory to be valid, it’s still worth checking the possibility of actually occurring soon.
Even though all of the privacy coins declined a bit in the past couple of days, the surges were notable and it’s interesting to see whether 2020 will be positive in this regard.
Privacy coins have been lauded by some as necessary to protect users’ basic right to privacy. So, what are the top 10 privacy-centric cryptocurrencies?
The Benefits of Privacy Coins Privacy cryptocurrencies occupy a sacred place in the cryptocurrency ecosystem.
While most cryptocurrency transactions are traceable on the blockchain, privacy coins utilize a range of protocols to obscure the addresses of transacting parties. Some privacy cryptocurrencies are private by default. Others offer identity-preserving features as an option.
Some exchanges have even delisted many coins due to regulatory pressures to implement strict KYC requirements. But if protecting one’s identity is a highly valued commodity, it’s important to understand how each of the top privacy coins operates.
Privacy Coins By Default Monero (XMR) Monero is the privacy coin with the largest market cap, at around $1 billion at press time.
Monero uses the CryptoNight Proof-of-Work protocol to make the network ASIC resistant. The protocol also obscures wallet transaction details and user amounts on the public blockchain. A truly fungible cryptocurrency, XMR coins’ transaction histories cannot be traced.
CryptoNight uses ring signatures and stealth addresses to hide transaction details. All transactions are private by default.
RingCT (Ring Confidential Transactions), an enhancement of CryptoNight, implements ring signatures to obfuscate transactions on the network by mixing them with other spendable transaction inputs.
The blockchain displays the validity of transactions, but only the sender and receiver involved in a particular transaction can see the amount of coins transferred in a transaction.
Monero is widely considered the most important of this category of cryptocurrencies.
Zcoin (XZC) Zcoin uses a protocol known as Sigma to preserve user identity. Sigma removes the ability to link coins with transaction histories. Only the parties to a transaction have knowledge of the exchange of funds.
The privacy-focused coin has integrated Tor into its network to hide users’ IP addresses. The development team also added Dandelion++ to improve IP address protection when a transaction is broadcast.
The team is currently building toward the launch of Lelantus, an upgrade that would improve the protocol’s scalability, privacy, and ease of use.
Lelantus will usher in completely untraceable transactions. Called HOOMP, Hierarchical One-out-of-Many-Proofs, the algorithm significantly improves on the performance of the One-Out-of-Many Proofs (OOMP).
OOMP is a building block of many other upcoming privacy protocols, such as Beam, Anonymous Zether, JP Morgan’s Many to Many proofs, and Monero’s Triptych and Triptych-2.
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On average, Zcoin developers found a 10x faster proving time, as well as a reduction in verification time, using HOOMP. This feature could make it one of the most important privacy coins in the market.
Bytecoin (BCN) Bytecoin bills itself as the world’s first private untraceable cryptocurrency. To ensure user privacy, Bytecoin deploys CryptoNote technology.
The protocol utilizes ring signatures to bundle transactions as well as making addresses unlinkable through the generation of “non-repeating, one-time address.”
Bytecoin’s privacy credentials are only enhanced by the fact that the more widely known Monero is a fork of the BCN project.
Grin (GRIN) & MimbleWimble Grin is a privacy-focused cryptocurrency “without censorship or restrictions.” The project deploys two methods to ensure transaction privacy for its users.
First, the Grin blockchain does not store amounts or addresses involved in transactions. Transactions are relayed through “a sub-set of peers” prior to being broadcast.
Secondly, using Mimblewimble allows past transaction data to be erased. That not only contributes to the privacy of transactions, but it also helps the blockchain scale. Beam is another project that uses the Mimblewimble protocol.
To ensure privacy and fungibility, the Litecoin Foundation has considered implementing the protocol on the LTC blockchain. According to the foundation:
“We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a MimbleWimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with MimbleWimble LTC in complete confidentiality.”
Super Zero (SERO) Super Zero is the native token for the SERO Dapp platform. SERO uses Super-ZK for privacy, and is reportedly 20 times faster than the Sapling upgrade of zk-SNARKs.
Its protocol claims to be the first to support smart contracts that use zero-knowledge proofs.
Privacy Coins With Optional Privacy Dash (DASH) Dash, a fork of the Bitcoin protocol that began life as Xcoin in 2014, has an optional privacy feature that allows users to hide transaction details if they want to through the network’s mixing mechanism. Dash’s privacy feature is called PrivateSend.
It has become a very popular way to transact in Venezuela. The feature, an implementation of CoinJoin, mixes coins with other transactions, to obscure the origin of the funds.
Dash is not, strictly speaking, a privacy coin and does not market itself as one.
In fact, the company’s website promotes it as “instant, global, and easy to use.” Transactions cost less than one cent and are near-instant.
Zcash (ZEC) Zcash is another widely-used coin with optional privacy.
Zcash transactions can take two forms: transparent or private. In private transactions, address details are hidden.
Zcash is a fork of the Bitcoin protocol, adding a privacy layer through a cryptographic proof known as zk-SNARKs. Zero Knowledge Succinct Non-Interactive Argument of Knowledge allows transactions to be verified without any knowledge of the wallet addresses involved or the amounts transferred.
According to the Zcash team:
“’Zero-knowledge’ proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is.”
Horizen (ZEN) Horizen is “a technology platform with optional privacy features that aims to enable an application-rich and inclusive ecosystem to provide people with freedom and everyday usability.”
ZEN is the platform’s native cryptocurrency.
Like other privacy coins, its privacy features are optional, offering both T-Addresses (transparent) and Z-Addresses (private). Z-Addresses utilize zero-knowledge cryptography to allow users to obfuscate transaction amounts and sender and receiver addresses.
Komodo (KMD) Komodo was a source-code fork of Zcash, enabling the project to implement the zk-SNARKs protocol. It is not a privacy blockchain itself, and KMD is not a privacy coin. But the platform allows for the creation of privacy protocols by third parties.
If a project wishes to adopt Komodo’s privacy as a feature, it can choose whether to make it optional or mandatory. (The Komodo project itself is not privacy-centric.)
Komodo developers also built an entirely separate blockchain, Pirate Chain, in mid-2018. Pirate Chain (ARRR) has mandatory transaction privacy using the zk-SNARKs protocol. The team claims it to be one of the most private blockchains in operation.
The Komodo website outlines that Monero’s ring-signature protocol leaves traces of metadata, which the zk-SNARKs protocol does not.
Verge (XVG) Verge, originally DogecoinDark, uses an anonymous network layer and the Tor anonymity tool to hide IP addresses and user locations.
The Wraith Protocol upgrade brought the ability to accommodate stealth addressin to the Verge network. The upgrade offers senders and receivers the ability to choose to have transactions recorded to the public or the private ledger.
Not only are the locations of senders and receivers private by default, but it also offers stealth addressing.
For these reasons, Verge is a payment option accepted by Pornhub, an ideal use case for privacy coins.
Privacy Coins an Important Part of the Crypto Ecosystem Privacy coins remain an important part of the cryptocurrency ecosystem.
Despite, or perhaps because of, the increased regulatory scrutiny of privacy-enhancing features in the cryptocurrency markets, privacy-focused projects will continue to be important tools against privacy infringements.
Disclosure: This article was edited by Paul de Havilland. For more information on how we create and review content, see our Editorial Policy.
Bitcoin’s dominance in the cryptocurrency market has fallen over the past few weeks, with the same recorded to be 62%, at press time. This was in light of the altcoin rally that took up much of 2020. However, it has since simmered and only a few altcoins have managed to retain their position, when compared to Bitcoin.
Verge [XVG]
Verge [XVG], which was among the 8 new crypto-assets to be added to the conversion function on Binance, has seen exponential highs after posting gains of 10.48% over the past week.
Verge saw a steep rise in the price. However, the latest chart suggested that the coin might be re-entering the bearish zone.
XVG was valued at $o.0046, at press time. After a decline of 5.51% over the past 24-hours, the coin held a market cap of $75.20 million and registered a trading volume of $1.37 million.
VeChain [ VET]
Over the past month, VeChain’s social engagement metrics have reportedly been very heavy with spikes as high as 3,520,412 engagements per day, according to the crypto-insights provider LunarCRUSH. Additionally, the latest altcoin rally propelled VeChain to shoot up to highs not seen since December 2019.
The coin breached its crucial resistance along the way, however, it took a plunge of 8.05% over the last seven days, following which VET bulls found support at the $0.005 level.
At press time, VET registered a market cap of $379.3 million and was priced at $0.0068. After gaining by 3.93%, the coin recorded a 24-hour trading volume of $188 million.
Bitcoin Diamond [BCD]
This fork-coin of Bitcoin did manage to post some impressive gains this month and was up by 16.78% over the last week. However, the coin failed to regain its foothold as it ended up trading below the previously breached resistance point of $0.76. The coin found its support at $0.57.
At press time, Bitcoin Diamond [BCD] held a market cap of $145.3 million and was trading at $0.77 after a surge of 4.45% in the last 24-hours. Additionally, the fork-coin registered a trading volume of $7.70 million over the same time period.
Monero [XMR]
The most popular privacy coin, Monero also gained traction during the latest bull run. The privacy-centric coin was recently added to the list of cryptocurrencies supported by Monaco-based crypto startup Bitsa.
XMR bulls noted a significant upward momentum as it posted 12.12% gains over the past week. Additionally, it was up by 4.68% over the last 24-hours and was priced at $84.18, at press time. XMR held a market cap of $1.46 billion and a 24-hour trading volume of $143.8 million.
