Category: News

Trading activity has surged as the crypto market gears up for Friday’s White House Crypto Summit. Over the past 24 hours, the total crypto market cap has added $127 billion.

With renewed market interest, several altcoins are gaining investors’ attention today, including Ondo (ONDO), Toncoin (TON), and Bittensor (TAO).

Ondo (ONDO)

RWA-token ONDO is one of today’s trending altcoins. It trades at $1.16 at press time, noting a 15% uptick over the past 24 hours. 

On its daily chart, readings from its Elder-Ray Index reflect the bullis bias toward the altcoin. This indicator, which compares the strength of bulls against the bears, is above zero at 0.14. 

When an asset’s Elder-Ray Index is positive, its bulls control the market. This indicates that buying pressure is stronger than selling pressure among ONDO holders. It also hints at a potential uptrend continuation as demand pushes the price higher.

If demand continues to soar, ONDO’s price could rally past its immediate resistance at $1.23 to trade at $1.57.

On the other hand, a resurgence in selloffs would invalidate this bullish projection. In that case, ONDO’s price could fall to $1.03.

Toncoin (TON)

Telegram-linked TON is another altcoin trending today. Interestingly, it has bucked the broader market uptrend to record a 0.14% price decline over the past day.

During this review period, its daily trading volume is also down 35%, reflecting the high selling pressure among TON holders.  When an asset’s price and trading volume drop simultaneously, it suggests weakening market interest and reduced participation from buyers and sellers. 

The trend indicates a loss of momentum in the TON market and hints at more price dips if demand continues to decline. In this scenario, the altcoin’s price could plummet to $2.82. If the bulls cannot defend this level, its price could drop to $2.18.

However, if sentiment becomes bullish and TON demand rockets, its price could reach $3.63. 

Bittensor (TAO)

The leading artificial intelligence-based token, TAO, is among today’s most searched altcoins. Amid the general market uptick, its value has also dropped by 1%.

At press time, TAO trades at $289.70, significantly below its Super Trend indicator, which forms dynamic resistance above its price at $414.10. 

This indicator measures the direction and strength of an asset’s price trend. It appears as a line on the price chart, changing color based on the current market trend. When green, the market is in an uptrend, while red signals a downtrend.

As with TAO, when an asset’s price trades below the red line of its Super Trend indicator, it is in a bearish trend. This signals that selloffs outweigh buying activity among its market participants. If this continues, TAO’s price could fall to $234.

Conversely, if buyers regain market dominance, they could push TAO’s price toward $349.

The post Why These Altcoins Are Trending Today — March 6 appeared first on BeInCrypto.

Ethereum has recorded spot inflows for the first time in 10 days. This signals a resurgence in investor confidence ahead of the highly anticipated White House Crypto Summit scheduled for March 7. 

At press time, ETH trades at $2,290, noting a 4% price hike in the past 24 hours. With growing bullish pressure in the broader market ahead of the meeting, the altcoin might extend its gains in the short term. 

ETH Sees $20 Million Spot Inflows After 10-Day Outflow Streak

According to Coinglass, ETH’s spot inflows totaled $20 million on Thursday. This comes after the leading altcoin witnessed 10 consecutive days of fund outflows from its spot markets, exceeding $600 million. 

When an asset that previously recorded significant outflows begins to record inflows, it indicates a shift in investor sentiment. It means that renewed buying interest is replacing prior selling pressure. ETH’s spot inflows indicate a rise in demand for the asset, as buyers are willing to acquire it at the current market price, positioning it for further upside.

In addition, Ethereum’s open interest is also climbing, indicating a surge in trading activity. At press time, this is at $20 billion, increasing by 4% over the past 24 hours. 

An asset’s open interest measures the total number of outstanding derivative contracts, such as futures or options, that have not been settled. ETH’s rising open interest reflects increased market participation and capital inflows into its futures market, reinforcing the current bullish trend.

Ethereum Eyes $2,361 as Indicator Confirms Growing Buying Pressure 

On the daily chart, readings from ETH’s Moving Average Convergence Divergence (MACD) reflect the growing demand for the coin ahead of Friday’s Crypto Summit. As of this writing, the coin’s MACD line (blue) is poised to climb above the signal line (orange).

When this momentum indicator is set up this way,  it suggests a potential bullish crossover as upward momentum strengthens. This is seen as a buy signal, increasing the possibility of further price rallies. If ETH’s demand grows, its price could reach $2,361.

On the other hand, if it suffers a correction, ETH’s price could drop below $2,000 to trade at $1,990.

The post Ethereum Sees $20 Million Spot Inflows After 10-Day Outflow Streak – What Next for ETH? appeared first on BeInCrypto.

The total crypto market cap (TOTAL) has recovered slightly as Bitcoin (BTC) helped the altcoins pull up as well. Ondo (ONDO) emerged as the leader of the crypto tokens, rising by 23% in the last 24 hours.

In the news today:-

• CFTC acting chair Caroline Pham revealed that the CFTC and SEC are in talks for further collaboration on digital asset regulation. Both agencies aim to enhance their joint efforts for the benefit of the public and the market.
• Bitwise has filed to create an Aptos ETF, leveraging the recent Delaware Trust application. Despite the SEC’s high volume of ETF applications, the filings have sparked bullish momentum for Aptos.

The Crypto Market Moves Up

The total crypto market cap surged by $127 billion over the last 24 hours, reaching $2.95 trillion. This brings it closer to the key resistance level of $3.00 trillion. The rise in market cap signals positive sentiment, depending on broader market cues.

The recent decline in volatility has helped cool the market, allowing for a period of consolidation. This reduced volatility provides the crypto market with room to grow. If TOTAL manages to break through the $3.00 trillion resistance and convert it into support, further upward movement toward $3.09 trillion is possible.

However, should the crypto market cap fail to breach the $3.00 trillion mark, it may struggle to gain traction. Falling through the support at $2.93 trillion could lead to a correction, erasing some of the recent gains.

Bitcoin Is Close To Claiming Key Support

Bitcoin is currently trading at $91,717, just under the key resistance level of $92,005. The altcoin is attempting to continue its uptrend, with the next major hurdle at $93,625. If it successfully breaches this level, Bitcoin could experience significant gains, attracting further investor interest in the short term.

The price of Bitcoin is poised for a potential rise, depending on investor behavior. If the selling pressure remains low after $92,005 is surpassed, Bitcoin could breach $93,625 and flip it into support. This would provide strong momentum, pushing the price further towards $95,761 and boosting market sentiment.

However, the bullish outlook could be invalidated if Bitcoin fails to maintain its momentum. A lack of buying pressure could lead to a decline below the support at $89,800, which could trigger a further drop to $87,041.

Ondo Jumps Massively

ONDO price has surged by 24% in the last 24 hours, trading at $1.19 after breaching the key resistance of $1.10. With strong buying pressure, the altcoin is now targeting the next major resistance level at $1.27, signaling a potential continuation of the upward momentum in the short term.

To continue its uptrend, ONDO will need strong inflows. If the altcoin successfully flips $1.27 into support, it could see further growth, reaching the $1.48 target. This upward momentum is contingent on sustained investor interest and the ability to maintain support levels for continued price action.

However, sharp selling could reverse the positive trend. If ONDO loses the support of $1.10, it could face a decline, testing lower support levels like $0.96. This potential drop would invalidate the bullish thesis, erasing recent gains and jeopardizing the altcoin’s recovery.

The post Why Is the Crypto Market Up Today? appeared first on BeInCrypto.

Asset Manager Canary Capital has filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to Axelar (AXL).

This marks the first-ever filing for AXL, the native cryptocurrency that powers the Axelar Network, setting the stage for the token’s institutional adoption.

Canary Capital Files for AXL ETF

The filing, which was submitted on March 5, outlines that the fund’s net asset value (NAV) will be calculated based on the price of AXL. However, specifics regarding the exchange where the ETF will be listed, its ticker symbol, and the custodian remain unspecified.

The proposed ETF builds on Canary Capital’s earlier efforts to bring Axelar to institutional investors. On February 19, the firm launched the Canary AXL Trust. The trust was Canary Capital’s first step into structured AXL offerings, and the ETF filing represents an extension of this effort.

“With Axelar driving some of the most advanced interoperability solutions in Web3, we see in AXL a significant opportunity for institutional investors to gain exposure to the technology underpinning next-generation blockchain connectivity,” Canary Capital’s CEO Steven McClurg said.

The news of the filing had an immediate impact on the market. AXL’s price jumped 14.3%, reaching $0.44.

Trading volume also spiked to $35.7 million. This marked a 131.8% increase from the previous day. With a market capitalization of $405.5 million, Axelar currently ranks 174 on CoinGecko.

Crypto ETFs Under Donald Trump: Opportunity or Bubble? 

Canary Capital’s filing comes amid a broader surge in cryptocurrency ETF applications in the US, a trend that has accelerated since Donald Trump took office. According to Kaiko Research, more than 45 crypto ETF filings are currently pending SEC approval. 

While Bitcoin (BTC) and Ethereum (ETH) ETFs have dominated the space, the scope has expanded to include unconventional assets like meme coins. Bitwise and Grayscale have filed for a Dogecoin (DOGE) ETF. 

Moreover, the ETF filings from Rex Shares and Tuttle Capital feature newly launched meme coins like Official Trump (TRUMP) and Melania Meme (MELANIA).

Nonetheless, according to Kaiko Research, market depth, concentration, and trading structure present significant obstacles for non-BTC/ETH ETFs. Many altcoins associated with ETF applications suffer from shallow liquidity, making them more susceptible to price manipulation and volatility. 

Additionally, most trading activity for these assets occurs on offshore platforms, creating transparency and regulatory oversight issues. The lack of sufficient USD trading pairs for certain assets further complicates their inclusion in ETFs, as these pairs are essential for accurate ETF valuations. Furthermore, the absence of regulated futures markets for many cryptocurrencies limits available trading strategies.

“All of these factors could limit the demand for more crypto-related ETFs going forward. While approval processes might change, market dynamics still have to catch up,” Kaiko noted.

For now, AXL has been added to a growing list of crypto ETF filings. However, its success—and that of similar ETFs—remains to be seen.

The post Canary Capital Seeks SEC Nod for First Axelar ETF, AXL Price Soars 14% appeared first on BeInCrypto.

Bitcoin has seen some volatility recently, with its price facing significant challenges. Despite these setbacks, the cryptocurrency is forming a bullish pattern. 

Investors, particularly short-term holders (STHs), have shown resilience by moving towards accumulation, which supports the notion of potential recovery in the coming weeks.

Bitcoin Investors Are Hopeful

Bitcoin’s realized losses have been a key indicator of the current market’s struggles. This week, the realized losses across all market participants reached $818 million per day, which is among the highest values in recent times. The only larger recorded loss was the yen-carry-trade unwind on August 5, 2024, which totaled $1.34 billion. 

These substantial losses reveal that many investors have been forced to sell their positions below their cost basis, pressured by the ongoing market downturn. Despite this, the significant realized losses suggest that many investors are feeling the weight of the current volatility, yet some continue to hold their positions.

On a more positive note, Bitcoin’s network growth has been on the rise. The number of short-term holders has increased, with 50,000 more wallets on the network compared to a month ago. Specifically, there has been a rise of 37,390 new wallets holding less than 0.1 BTC, and 12,754 wallets holding between 0.1 and 100 BTC. 

The growth in the number of Bitcoin wallets reflects strong conviction among these short-term investors. Despite the ongoing price fluctuations, their continued involvement in the market indicates that many are looking beyond the current downturn. This is an important factor in supporting Bitcoin’s potential recovery, as it suggests that the base of holders remains strong and that interest in the cryptocurrency is far from fading.

BTC Price Rise Likely

Bitcoin’s price has shown a 6% recovery in the last 24 hours, trading at $92,776 as of the latest update. The cryptocurrency is nearing the critical resistance level of $93,625, which it has struggled to breach in recent days. A successful breach of this resistance could mark the beginning of a bullish breakout, pushing Bitcoin higher.

If Bitcoin manages to flip $93,625 into support, it could pave the way for a rise towards $95,761. Such a move would also indicate a potential breakout from the descending broadening wedge pattern that has dominated the market in recent weeks. Should this happen, Bitcoin could find itself heading towards the psychologically significant $100,000 mark, marking a strong recovery from its recent volatility.

However, if Bitcoin fails to break through $93,625, it could fall back to the $89,800 support level. A failure to hold at this point could delay the recovery further and even push Bitcoin to test lower levels, with $87,041 acting as a crucial support. A move below this level would invalidate the bullish outlook and extend the current downtrend.

The post Bitcoin’s Volatile Ride: Short-Term Holders Are Holding Strong Amid Losses appeared first on BeInCrypto.

In recent months, Solana has demonstrated remarkable growth in the decentralized finance (DeFi) sector, prompting discussions about its potential to rival Ethereum’s valuation.

A new report by Franklin Templeton highlighted that Solana’s DeFi protocols are among the most utilized and highest-earning platforms across all blockchain environments.

Franklin Templeton Predicts Solana as Ethereum’s Rival

In an analysis, Franklin Templeton highlighted the rapid growth and potential of Solana’s DeFi ecosystem. The report suggested that its valuation could soon rival Ethereum’s.

The global asset management firm, which oversees $1.68 trillion in assets, noted that six Solana-based protocols surpassed $1 billion in Total Value Locked (TVL).

During the third and fourth quarters of 2024, Solana outperformed Ethereum in several key metrics. Solana’s decentralized exchange (DEX) volume notably exceeded that of Ethereum and all Ethereum Virtual Machine (EVM)–based DEXs combined.

The surge indicates a significant shift in DeFi activity towards Solana, challenging Ethereum’s longstanding dominance in the space. Jito (JTO) leads the charge, a liquid staking protocol that recently reached an all-time high of $3 billion in TVL. Notably, this marked the first time a Solana-based protocol has achieved this milestone.

Other notable protocols include Jupiter (JUP), Raydium (RAY), Kamino (KMNO), Marinade (MNDE), and Sanctum Coin (SANCTA). Collectively, these protocols contributed to Solana’s growing DeFi ecosystem.

Further emphasizing its growing prominence, Solana’s active addresses per hour were reported to be 26 times higher than Ethereum’s as of January 2025. This surge in user activity reflects the network’s scalability and efficiency, making it an attractive platform for developers and investors seeking faster transactions and lower fees.

Despite the impressive growth, Franklin Templeton’s report points out that Solana’s DeFi protocols remain undervalued compared to their Ethereum counterparts. The analysis reveals that Solana’s DeFi tokens are trading at lower valuation multiples, although they exhibit higher growth profiles and strong fundamentals.

“Solana DeFi valuation multiples trade on average lower than their Ethereum counterparts despite significantly higher growth profiles. This highlights an apparent valuation asymmetry between the two ecosystems,” an excerpt in the report read.

Notwithstanding, Franklin Templeton says the increased activity has also contributed to Solana’s rising market capitalization and overall ecosystem growth. According to the asset manager, these discrepancies suggest a potential investment opportunity as the market adjusts to recognize Solana’s expanding influence in the DeFi sector.

Reflecting this optimism, Franklin Templeton filed for a spot Solana ETF (exchange-traded fund) with the US SEC. Notably, the proposed ETF includes staking capabilities. This means investors can earn rewards by participating in network validation processes, which is the first for a Solana-based ETF.

Solana Rising – Could It Overtake Ethereum?

While some investors are enthusiastic about Solana’s potential, others remain skeptical. A user on X (Twitter) challenged the move to compare Solana to Ethereum, alluding to stark differences in foundational robustness.

“It’s like comparing Ethereum versus Las Vegas casino. Yea Vegas has more chips,” the user quipped.

Similarly, industry analysts caution against assuming Solana is poised to surpass Ethereum imminently. Juan Pellicer, Senior Research Analyst at IntoTheBlock, noted that while Solana has narrowed the market capitalization gap with Ethereum, it still faces significant hurdles.

 “While Solana may continue to grow and potentially challenge Ethereum in specific niches, overcoming Ethereum’s entrenched position as the dominant platform in the immediate future is still unlikely, though the competitive landscape is dynamic and evolving,” Pellicer told BeInCrypto. 

Specifically, Pellicer emphasized that Ethereum benefits from established trust and a vast developer community. According to the analyst, these are critical factors in maintaining its leading position in the DeFi space.

He also highlighted the need for Solana to address centralization concerns and achieve parity in developer adoption. These, according to the analysts, would see Solana truly challenge Ethereum’s dominance.

As Solana continues to innovate and expand its DeFi ecosystem, its potential to reach valuations comparable to Ethereum becomes more plausible.

BeInCrypto data shows SOL was trading for $149.77 as of this writing, up by over 5% in the past 24 hours.

The post Solana’s DeFi Surge Could Rival Ethereum’s Market Value Soon, Franklin Templeton Predicts appeared first on BeInCrypto.

Recent analyses by crypto experts acknowledge that Bitcoin (BTC) price movements closely correlate with the global M2 money supply. Based on this, they predict potential bullish momentum for the crypto market in late March.

With global liquidity expanding, analysts predict that Bitcoin and other digital assets could experience a significant rally, starting around March 25, 2025, and potentially lasting until mid-May.

Global M2 and Its Influence on Bitcoin

The M2 money supply represents a broad measure of liquidity, including cash, checking deposits, and easily convertible near-money assets. Historically, Bitcoin has demonstrated a strong correlation with M2 fluctuations, as increased liquidity in financial markets often drives demand for alternative assets like cryptocurrencies.

Colin Talks Crypto, an analyst on X (Twitter), highlighted this correlation, pointing to a sharp increase in global M2. He described it as a “vertical line” on the chart, signaling an imminent surge in asset prices.

According to his prediction, the rally for stocks, Bitcoin, and the broader crypto market is expected to commence on March 25, 2025, and extend until May 14, 2025.

“The Global M2 Money Supply chart just printed another vertical line. The rally for stocks, Bitcoin, and crypto is going to be epic,” he suggested.

Vandell, co-founder of Black Swan Capitalist, supports that global M2 movements directly influence Bitcoin’s price. He notes that declines in global M2 are typically followed by Bitcoin and cryptocurrency market downturns about ten weeks later.

Despite the potential for short-term dips, Vandell believes this cycle sets the stage for a long-term uptrend.

“As seen recently, when global M2 declined, Bitcoin & crypto followed roughly 10 weeks later. While further downside is possible, this drawdown is a natural part of the cycle. This liquidity shift will likely continue throughout the year, setting the stage for the next leg up,” Vandell explained.

Similarly, another popular analyst, Michaël van de Poppe, sees M2 expansion as one of five key indicators for an early market recovery. He emphasizes that with inflation no longer the primary focus and expectations of US Federal Reserve rate cuts, financial conditions are becoming more favorable for Bitcoin.

“Bottom line is: Inflation isn’t the prime topic, likely to go down. FED rate cuts. The dollar to weaken massively. Yields to fall. M2 Supply to significantly expand. And as this process started, it’s just a matter of time until altcoins and crypto pick up. Bull,” he stated.

Historical Context and Projections

The correlation between Bitcoin’s price and global M2 growth is not new. Tomas, a macroeconomist, recently compared previous market cycles, particularly in 2017 and 2020. At the time, significant increases in global M2 coincided with Bitcoin’s strongest annual performances.

“Money supply is expanding globally. The last two major global M2 surges occurred in 2017 and 2020—both coincided with mini ‘everything bubbles’ and Bitcoin’s strongest years. Could we see a repeat in 2025? It depends on whether the U.S. dollar weakens significantly,” Tomas observed.

Tomas also highlighted the impact of central bank policies, pointing out that while major banks are cutting rates, the strength of the US dollar could be a limiting factor. If the dollar index (DXY) drops to around 100 or lower, it could create conditions similar to previous Bitcoin bull runs.

The Federal Reserve’s Role

Macro researcher Yimin Xu believes that the Federal Reserve might halt its Quantitative Tightening (QT) policies in the latter half of the year. Such a move, Yimin says, could potentially shift toward Quantitative Easing (QE) if economic conditions demand it. This shift could inject additional liquidity into the markets, fueling Bitcoin’s upward trajectory.

“I think reserves could get too thin for the Fed’s liking in the second half of the year. I predict they will terminate QT in late Q3 or Q4, with possible QE to come after,” Xu commented.

Tomas agreed, stating that the Federal Reserve’s current plan is to increase its balance sheet slowly, which is in line with GDP growth. He also articulates that a major financial event could trigger a full-scale return to QE.

These perspectives suggest that uncertainties remain, including the strength of the US dollar and potential economic shocks. Nevertheless, the broader consensus among analysts points toward an impending bullish phase for Bitcoin.

Investors must conduct their own research as they continue to watch macroeconomic indicators in the coming months, anticipating whether the predicted rally will materialize.

The post Analysts Predict Major Bitcoin Rally in Late March as M2 Money Supply Grows appeared first on BeInCrypto.

On March 7, 2025, the White House will host its first-ever Crypto Summit. President Donald Trump will chair the summit, and David Sacks will serve as moderator.

With Trump’s recent moves, many investors are anticipating positive changes. Below are three things that BeInCrypto thinks will be key agenda in the summit.

Progress Toward Regulatory Clarity

For years, regulatory ambiguity has been a headache for cryptocurrency investors. The previous Biden administration took a heavy-handed approach with SEC lawsuits targeting companies in the industry. This was seen as excessively stifling the market, preventing its growth in the US.

Trump’s crypto-friendly stance could change that. The summit might outline a simpler legal framework for digital assets, addressing issues like exchange compliance, DeFi regulations, and stablecoin management.

David Sacks, a supporter of stablecoins strengthening the dollar’s position, could push for policies legitimizing USDC or USDT without stifling innovation.

Evidence of this shift includes the recent dismissal of several SEC lawsuits against Uniswap, Kraken, Coinbase, and other crypto companies.

Most importantly, the Summit will reportedly have a very short guest list, and several major crypto leaders have already been invited. This suggests that the White House wants to engage in direct conversation with these leaders, which could lead to more policy suggestions.

“More attendees are confirming attendance at Friday’s White House Crypto Summit. Confirmations so far from: Michael Saylor, David Bailey, Matt Huang, JP Richardson.” FOX journalist Eleanor Terrett said.

More Details On The US Crypto Reserve

President Trump recently announced plans to establish a strategic reserve with Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This has already had a positive short-term impact on their prices. As a result, investors holding these coins are particularly interested.

However, the market lacks detailed information about this strategic reserve. Where will the funding come from? Will it use seized assets or existing Treasury authority?

Additionally, the size of the fund and which assets might be added to the list might also be discussed at the White House Crypto Summit.

The Commerce Secretary also says President Trump will unveil the Bitcoin reserve strategy at the Summit. Other crypto assets will be treated positively but differently.

“The President definitely thinks that there’s a Bitcoin strategic reserve. Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that.” Secretary Lutnick told The Pavlovic Today. 

At least, for now, this strategic reserve could reinforce the legitimacy of cryptocurrencies, serving as a morale boost for long-term holders.

Crypto Tax Policy

Another potential topic of discussion is likely to be crypto tax reform. For a while now, Trump has been hinting at eliminating capital gains taxes on cryptocurrencies.

Lower taxes would reduce costs and increase profits for individual investors, potentially leading to reinvestment and boosting market activity.

In reality, completely eliminating capital gains taxes is unlikely due to potential opposition from Congress. However, a smaller adjustment, such as extending holding periods to reduce taxes, might be more feasible.

The White House Crypto Summit is taking place amid market uncertainty. The US trade war with other nations is heating up more than ever.

On Monday, Bitcoin dropped to $82,000 before recovering to its current level. Now, BTC retests $90,000 amid speculation of preferential treatment in Trump’s crypto reserve.

If the summit delivers positive news, it could reverse the downward trend. On the contrary, it could prolong the selling pressure, causing the market to continue falling further.

Therefore, investors should prepare for price volatility. This could be a “buy the rumor, sell the news” scenario, so users should avoid over-leveraging before the event. Consider your risk tolerance and investment goals.

The post 3 Things Expect From The White House Crypto Summit appeared first on BeInCrypto.

TRUMP’s price has been stuck in a downtrend for the past month despite the media attention surrounding US President Donald Trump’s recent statements. The altcoin has faced difficulty breaking through the critical resistance level of $17.14. 

However, investor sentiment remains strong, and with the upcoming White House Crypto Summit, there may be a chance for recovery.

TRUMP Notes Strong Inflows

The Chaikin Money Flow (CMF) indicator shows positive signs for TRUMP, with the indicator currently above the zero line. This suggests stronger inflows than outflows, indicating that investors are optimistic about the altcoin’s future. 

Furthermore, with the White House Crypto Summit scheduled for March 7, investors are looking to capitalize on potential price movements ahead of the event. Many are likely to accumulate at low levels, anticipating the summit’s influence on both the market and TRUMP’s price.

The positive CMF reading supports the idea that investors are positioning themselves for a potential breakout. As the summit approaches, TRUMP’s price could see upward momentum. Historically, significant events like these tend to influence altcoins, especially when there’s optimism about new regulations or policy changes in the crypto space. 

TRUMP shares a strong correlation of 0.86 with Bitcoin (BTC), which suggests that the altcoin is likely to follow BTC’s lead. Given that BTC’s price is also influenced by broader market trends, TRUMP’s price could rise alongside Bitcoin if the hype around the White House Crypto Summit continues to build. 

Bitcoin’s potential rise in anticipation of the summit could lift TRUMP’s price as well. The correlation indicates that as BTC moves up, so too could TRUMP. Should the broader market experience positive momentum, both Bitcoin and TRUMP are poised for potential rallies, with TRUMP looking to benefit from increased attention during the summit.

TRUMP Price Aims At Key Barrier

Currently trading at $13.38, TRUMP is holding above the critical support level of $12.41. The altcoin remains stuck under the month-long downtrend, unable to break above the key resistance at $17.14. However, the bullish sentiment driven by the upcoming White House Crypto Summit could spark a rally for TRUMP.

The altcoin’s target would be to secure $17.14 as support. If successful, TRUMP price could note a 27% rally and push to $21.45, marking a significant recovery from its current levels. The optimism surrounding the summit could provide the necessary catalyst for this price movement.

On the other hand, if the altcoin fails to break through the downtrend and the market sentiment weakens, TRUMP could drop below its support of $12.41. This would lead to a decline to $11.07, its current all-time low (ATL), or possibly lower, invalidating any bullish outlook.

The post TRUMP Price Eyes Breakout Ahead of White House Crypto Summit appeared first on BeInCrypto.

Pi Network is planning to unlock 188 million tokens in March, making them accessible to over 1 million users. This is a substantially larger user pool than most months. Yet, it may not increase selling pressure as demand for PI continues to surge.

However, the project’s community is also acting aggressively over social media, review-bombing Binance for its perceived listing delays. A Binance community vote overwhelmingly supports Pi, but the listing hasn’t gone live yet, prompting intense backlash.

Pi Network Prepares for Big Unlock

Pi Network is one of the most hyped crypto projects in recent times. Since its mainnet launch on February 20, PI surged nearly 100%, hitting a peak of $2.99 before seeing corrections. At the same time, it’s gaining recognition from the wider community despite earlier criticism.

A week ago, CoinMarketCap refused to update its market cap, but the platform reversed this stance yesterday. PI is now the 11th largest cryptocurrency in the market, ahead of Hedera, Chainlink, Steller, and other notable names.

CoinMarketCap’s community sentiment shows that 91% of its users are bullish on Pi, as the firm is planning to unlock 188 million tokens to over 1.1 million users this month.

A token unlock of this size is bound to have an impact on Pi Network’s price. Recently, the project launched the biggest airdrop in crypto history, which helped juice enthusiasm.

ExplorePi data shows that there are currently more than 11.5 million Pioneer accounts. However, 7.25 million (63%) accounts lock PI for three years, and 1.6 million accounts (14%) lock PI for one year.

Therefore, the selling pressure on Pi Network may not take effect immediately, even with this massive user pool.

Nonetheless, Pi Network is also ruffling more than a few feathers. Recently, Binance hosted a community vote on whether or not to list PI tokens, and its users were overwhelmingly in favor.

Despite the votes, Binance is yet to list PI, and several users are not taking this lightly. Pi fans have review-bombed its Google reviews. Without directly mentioning the project, the exchange responded to these comments:

“Before listing cryptocurrencies, Binance will check and consider many factors including liquidity and trading volume in the market,” Binance claimed. Although the exchange didn’t directly reference Pi Network, it commented on several Pi-centric 1 star ratings on Play Store.

Many (but not all) of these reviews and responses took place on Asia-based servers, where the project is the most popular. Recently, the Vietnamese government issued a warning about Pi Network, and Bybit CEO Ben Zhou reminded his users that China issued similar warnings years prior.

Regardless, Pi Network seems to have a huge community of enthusiastic supporters. Although some of its fans are getting a reputation for their hostility and defensiveness on social media, the project remains resilient to the current market conditions.

The post Pi Network to Unlock 188 Million Tokens in March appeared first on BeInCrypto.