Solana (SOL) price is facing weakness as bearish headwinds persist in the crypto market. Moreover, SOL continues to underperform against Ethereum (ETH), with the SOL/ETH ratio plunging 25% in less than three weeks to its lowest level in nearly a month. Amid weakening bullish momentum, will Solana price crash to $130 or bounce higher? Solana Price Weakens as SOL/ETH Crashes The momentum around Solana price is growing weak amid a crash in the SOL/ETH ratio. As Coingape reported, Solana’s underperformance is driving Ethereum’s gains, with the latter recording a mild 1.3% drop in seven days, notably lower than SOL’s 11% drop. At press time, the SOL/ETH ratio stood at 0.0613 after shedding more than 25% of its value since May 8. At this level, the ratio was testing a multi-month support level that had previously determined whether the price continues with the upward trend or drops lower. SOL/ETH is losing… Read More at Coingape.com
After Circle rejected Ripple’s $5 billion buyout offer, rumors are circulating that Ripple made another attempt. Despite the claim that it tried to offer Circle $20 billion, there is no tangible proof supporting this claim.
Commentators pointed out that Circle’s IPO was previously valued at around $5 billion, making a $20 billion offer seem totally ridiculous. It’s hard to be certain, but it appears that this rumor moved the market less than other recent false claims.
This made its refusal especially noteworthy, leading to community speculation.
Last night, rumors began to appear that Ripple’s CEO, Brad Garlinghouse, had made a bold new offer to Circle. Specifically, several prominent social media accounts claimed that Garlinghouse set a new offer at $20 billion.
This rumor gained new traction as crypto industry media publications began reporting on it. Still, Garlinghouse hasn’t publicly said anything.
Users immediately began urging caution, reminding the community that nothing had been confirmed. Meanwhile, several pieces of evidence explain why Ripple’s alleged Circle offer is not credible.
For example, although Circle’s IPO hasn’t launched yet, it still gives valuable market data:
“FYI, Circle’s IPO valuation is ~$5 billion (which is the valuation Ripple is looking at when it made its acquisition offer). There is no way Ripple would offer $20 billion for Circle. I see lots of people saying $5 billion is a low offer since Circle holds $60 billion in collateral…However, it does not own that collateral,” Dom Kwok, co-founder of EasyA, stated.
It’s hard to be certain, but the rumor has apparently left a minimal market impact. False claims have recently had an outsized influence over the crypto industry; rumors of Trump pausing tariffs caused huge chaos.
Similar statements regarding XRP ETF approval and OpenAI integrating Worldcoin proved untrue. Nonetheless, they were definitely influential.
Of course, it’s still difficult to draw a clear conclusion from this. Did large numbers of people believe Ripple’s alleged Circle offer? Were retail traders suspicious of the claim?
Hopefully, the crypto community will move past this period of credulity. When markets consistently move on misinformation, it can disrupt momentum.
Binance founder Changpeng Zhao (CZ) poked holes at degens over the rush for quick and easy gains in the cryptoverse. CZ says pitching tents with credible projects is a better investment strategy in the long term for investors in the space.#
A Fortune Is Spent Investing In Shady Projects, Says Binance Founder
CZ has taken swipes at “degen” activity in cryptocurrency circles following a string of high-profile rug pools. According to the Binance founder, investors are sinking in massive fortunes to clutch at quick rewards in the ecosystem.
The Binance founder disclosed on X (formerly Twitter) that investors rarely recoup their funds in the pursuit of quick gains. Degens typically invest in low-cap tokens and memecoins, aping into leveraged positions without proper research.
CZ advises investors to turn their gaze to “ethical teams” building projects for long-term growth, rather than short-term hype. Investors chasing trends and hype have lost a fortune in rug pulls, liquidity drains, and exit scams. The US SEC has disclosed that memecoins are not securities, urging investors to be wary of speculative investment in the asset class.
“In crypto, too much money is spent chasing small, quick gains,” said CZ. “Focus on ethical teams that build for the long term. Big money is built slowly with stamina.”
While the Binance founder did not expressly mention credible crypto projects, his comments allude to teams with established members and communities building projects with real utility.
CZ Offers Suggestions on Tokenomics For Crypto Projects
The Binance founder has offered suggestions for crypto project tokenomics designed to reduce rug pulls. According to CZ’s plan, only 10% of tokens will be unlocked while the remaining tokens will require the fulfillment of strict conditions before an unlock.
Under the proposal, issuers will unlock new tokens after every six months with only 5% of tokens allowed to be unlocked. CZ’s tokenomics plan will rely on smart contracts to control the vesting schedule and third parties to hold the keys.
CZ has since rolled out support for victims of BROCCOLI and TST memecoin crashes, raising over $1 million in cryptocurrencies. The Binance founder says that AI projects can leverage L1 and L2 blockchains to achieve efficiency and decentralization objectives.
The crypto markets are displaying significant strength since the early trading hours, with the prices of most of the tokens remaining inflated. Altcoins like PENGU, XMR, DEEP, etc., and a few more have been attracting double-digit gains, while some are experiencing minor losses. Meanwhile, Bitcoin has sustained above $94,000 as the global trading volume has begun to recover yet again. With the start of the American trade, the buying pressure is increasing and hence, with the rise in positive sentiments, the BTC price is believed to rise above the crucial resistance levels.
A few days before, the bulls utilized all their strength to elevate the BTC price above the consolidation around $85,000. The volume increased from $15 billion to $55 billion, which later began to drop gradually to close to $20 billion. In the times when the spot retail traders have refrained from entering a fresh trade, the whales have begun aggressive accumulation. Ever since the latest rebound, the whales seem to have smelled a fresh bullish case and hence have increased their accumulation.
The data from Glassnode indicates the whales have been aggressively accumulating over the past few days. The number of wallets with a balance over 1000 BTC witnessed a sudden rise from 17.2K to 17.3K, indicating the whales are foreseeing a bullish trajectory for the token. The whales are buying BTC like never before, which suggests a massive price action could be on the horizon. The new whales appear to be more aggressive than the old ones, substantiating the bullish claim.
Is Bitcoin (BTC) Price on Its Way to $100K?
After breaking above the falling wedge, the BTC price surged extensively and surpassed the local resistance at $88,500 and entered a pivotal range between $94,170 and $94,900. The bulls are working hard to keep the rally restricted within the range. Once the bulls accumulate the required strength, the token is expected to trigger a fresh upswing, elevating the levels beyond $100K.
The daily chart of Bitcoin is progressive as the price is closely consolidating around the gains, experiencing equal bullish and bearish pressure. The RSI is about to enter the overbought zone, and the CMF has been maintaining a decent ascending trend. This suggests a significant inflow of money onto the platform. Hence, hinting towards a rise in bullish sentiments within the market. Once the Bitcoin (BTC) price rises above the pivotal resistance at $98,500 to $99,000, rising above $100,000 is imminent.
The post Bitcoin Price Prediction-Here’s What’s Incoming for the BTC Price Rally This Week appeared first on Coinpedia Fintech News
The crypto markets are displaying significant strength since the early trading hours, with the prices of most of the tokens remaining inflated. Altcoins like PENGU, XMR, DEEP, etc., and a few more have been attracting double-digit gains, while some are experiencing minor losses. Meanwhile, Bitcoin has sustained above $94,000 as the global trading volume has …
