Market Analysis | ForkLog

ForkLog 8 02.12.2024

XRP Reaches $2.5, Enters Top Three by Market Capitalisation Amid High Leverage Concerns

On the morning of December 2, XRP’s price hit a seven-year high at $2.498, displacing the stablecoin USDT from the third position in market capitalisation ($136.2 billion). The day before, the asset surpassed Solana. Hourly chart of XRP/USDT on Binance. Data: TradingView. XRP’s daily growth reached 27.8%. Over the past 14 days, the asset has […]

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ForkLog 15 01.12.2024

Ethereum’s ‘Cup and Handle’ Pattern Suggests Potential Surge to $7,200

An analyst known as VentureFounder has identified a ‘cup and handle’ pattern on Ethereum’s bi-weekly chart, indicating a potential rise in the asset over the next four months. $ETH has a 3-year cup and handle in the making, it is about to be completed now if #Ethereum confirms $3.8k as support. First target: $5,349Second target: […]

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ForkLog 10 29.11.2024

Market Shifts Focus from Meme Coins to DeFi Tokens

Leading meme coins have lost their growth momentum, while DeFi tokens are showing stronger gains. This is reflected in the dynamics of the respective indices, reports The Block. Weekly dynamics of The Block indices. Data: The Block. Over the past week, the GMMEME indicator, which tracks the top 30 meme coins, decreased by 0.95%. For […]

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ForkLog 9 29.11.2024

Bitcoin Futures Open Interest Surpasses $60 Billion

On November 29, the total open interest (OI) in bitcoin futures reached approximately $61 billion, down from a record ~$64 billion the previous week. This is according to data from Coinglass. Data: Coinglass. Over five weeks, the metric has grown by more than half. Bitfinex stated that this does not pose an imminent risk of […]

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ForkLog 7 28.11.2024

Stablecoin Market Capitalisation Reaches Record $191.5 Billion

The combined market value of stablecoins has reached $191.5 billion, setting a new ATH following the collapse of Terra’s UST in May 2022. This was highlighted by Bloomberg. Since the beginning of the year, the figure has increased by 46%. Data: DeFi Llama, Bloomberg. The agency noted the growing role of stablecoins in global trade […]

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ForkLog 9 28.11.2024

Ethereum Nears $3700 Amid Capital Shift from Bitcoin

On the night of November 28, Ethereum’s price rose above $3680, outpacing Bitcoin in growth rate. QCP Capital observed signs of capital flowing into altcoins, reports The Block. According to CoinGecko, over the past 24 hours, the leading cryptocurrency increased by 2.5%, while Ethereum rose by 5.1%, XRP by 7.6%, BNB by 5.1%, Cardano by […]

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ForkLog 1 27.11.2024

Bitcoin’s Current Dip Seen as Prelude to $100,000 Surge

The recent decline of Bitcoin to $93,000 is expected to be short-lived, with prices still on track to reach six figures by the year’s end, according to trader Bluntz Capital. likely thats the pullback done on #btc here, i think up from here and its aint going as low as ppl think pic.twitter.com/pVeiFZzVC4 — Bluntz […]

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ForkLog 7 25.11.2024

Crypto Fund Inflows Surge to a Record $3.12 Billion

Between November 17 and 23, cryptocurrency investment funds received $3.12 billion. This positive trend continued for the seventh consecutive week, according to CoinShares. Data: CoinShares. Year-to-date inflows have increased to a new record of $37 billion. In the latest reporting week, $3.08 billion flowed into bitcoin instruments. Clients directed $10.4 million into structures that allow […]

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ForkLog 9 25.11.2024

FalconX Warns of Waning Bitcoin Bull Initiative

The relative advantage of bullish bitcoin orders has weakened, allowing sellers to gain a more dominant position. This conclusion was reached by FalconX, according to CoinDesk. This indicates that the upward momentum, which drove prices to around $100,000 following the US elections, is not supported by new buying interest. The smoothed 3 DMA measure of […]

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ForkLog 3 25.11.2024

Bitcoin Dips Below $96,000 Amid Record Profit-Taking

On November 24, the price of the leading cryptocurrency fell below $96,000. This followed a surge in daily realized profits to a record $443 million, according to CryptoQuant. BTC: Realized Profit reached an ALL-TIME HIGH of $443 million (daily) ? pic.twitter.com/XXANCIogxk — Maartunn (@JA_Maartun) November 23, 2024 At the time of writing, the price had […]

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ForkLog 5 22.11.2024

Ethereum Futures Open Interest Hits Record $20.8 Billion

On November 22, open interest (OI) in Ethereum futures surged by over 12% to an ATH of $20.8 billion, indicating bullish momentum. This was reported by CryptoQuant, according to The Block. Data: Coinglass. The metric has increased by more than 40% over the past four months, surpassing the previous peak of $17 billion in May. […]

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ForkLog 12 22.11.2024

Meme Coin Index Hits Record High Amid New Listings

The GMCI Meme index, tracked by The Block, rose by 8.8% over the week, reaching a new peak of 537.99 points. The surge was driven by the inclusion of Pepe (PEPE) and Dogwifhat (WIF) in the trading tools on Coinbase and Robinhood. The listings of meme coins are unprecedented and indicate a strategic shift by […]

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