Paradise Darron

Don’t lay your story bare in front of everyone.

[Paradise Darron @ParadiseD879]

Today’s top cryptocurrency gainers rally double-digits

Several cryptocurrencies saw 10% or more increases after Boxing Day, while Bitcoin and Ethereum lagged.

Ethereum layer-2 solutions, Bitcoin forks, a native layer-1 blockchain token, and a Polkadot parachain comprised the seven top gainers on Dec. 27 amid what is likely a wide-ranging rotation strategy from traders who are booking profits and moving into other altcoins after markets saw upticks over several weeks in Q4 2024.

These top gainers recorded double-digit upturns ranging from 10% to as high as 25%, according to CoinMarketCap.

Bitcoin forks
Bitcoin SV (BSV) and Bitcoin Cash (BCH) ranked second and seventh as the cryptocurrencies increased 24.7% and 11%, respectively, due to amped trading volume.

It’s possible these forks experienced gains thanks to their ties with the original Bitcoin (BTC) blockchain and token, which has made headlines thanks to chatter around spot BTC ETFs. BSV traded above $62, while BCH was over $256 following the rally.

Ethereum L2s
Three of Ethereum’s largest scaling solutions presented pumps for holders, namely Optimism (OP), Polygon (MATIC), and Arbtrium (ARB). Over $4, OP gained over 23.8%, while MATIC broke above $1 and increased by 18.1%. ARB rallied 12.1% to reach a $1.50 price tag.

Mina L1
MINA, the native token of L1 privacy-focused blockchain Mina, rose to $1.40 after gaining 18.3% with a trading volume of almost $500 million. Mina leverages zero knowledge, or zk technology, to allow developers to build dapps and privacy-preserving smart contract platforms.

Polkadot parachain Astar
The number one top gainer at press time was Astar (ASTR), with a 25% increase in 24 hours despite its $145 million trading volume. Astar operates as a parachain on the Polkadot ecosystem, enabling users to create smart contracts across multiple decentralized networks and virtual machines like the popular Ethereum Virtual Machine or EVM.

[Paradise Darron @ParadiseD879]

@riotgamesmusic @steveaoki Awesome !

[Paradise Darron @ParadiseD879]

@KelleyOmlin165 Keep pushing forward, even when faced with resistance. Bitcoin's journey may have its ups and downs, but remember that every setback is an opportunity for a comeback. Stay strong and keep believing in the potential of cryptocurrency. 🚀

[Paradise Darron @ParadiseD879]

@HymanMajmu95380 Snoop Dogg keeps us guessing with his latest move, "giving up smoke." Is it a genuine change or just another crypto wager? 🤔 #SnoopDogg #Crypto

[Paradise Darron @ParadiseD879]

Retail traders are less optimistic after the ETF hopium fades

Moving on to retail interest, there is a growing sense of apathy due to the absence of a short-term positive trigger, such as the potential approval of a spot Bitcoin exchange-traded fund (ETF). The SEC is not expected to make its final decision until January and February 2024.

The USDT premium relative to the Yuan hit its lowest point in over four months at OKX exchange. This premium serves as a gauge of demand among China-based retail crypto traders and measures the gap between peer-to-peer trades and the U.S. dollar.

Since Nov. 20, USDT has been trading at a discount, suggesting either a significant desire to liquidate cryptocurrencies or heightened regulatory concerns. In either case, it's far from a positive indicator. Furthermore, the last instance of a 1% positive premium occurred 30 days ago, indicating that retail traders aren't particularly enthused about the recent rally toward $38,000.

In essence, professional traders remain unfazed by short-term corrections, regardless of the regulatory landscape. Contrary to doomsday predictions, Binance's status remains unaffected, and the lower trading volume on unregulated exchanges may boost the chances of a spot Bitcoin ETF approval.

The disparity in time horizons may explain the divide between professional traders and retail investors' optimism. Additionally, recent regulatory actions could pave the way for increased participation by institutional investors, offering a potential upside in the future.

[Paradise Darron @ParadiseD879]

Dogecoin Whales Wake Up as Old DOGE Move Out of Dormant Wallets Amid Surge of ‘Big Money Interest’

A “massive amount” of older Dogecoin (DOGE) have been starting to move out of wallets that had been dormant in a sign that the price of the meme-inspired cryptocurrency could soon change direction, even amid a growing trend of wallets with over 1 million OGE growing.

According to on-chain analytics firm Santiment, data from the Dogecoin network has shown the largest spike of older DOGE moving out of dormant wallets, at a time in which 121 new wallets with over one million tokens were created in a single month in a “sign of big money interest.”

The meme-inspired cryptocurrency has failed to keep up with the performance of other major digital assets this year, rising about 8% so far compared to the flagship cryptocurrency Bitcoin, which moved up nearly 125% year-to-date.

As CryptoGlobe reported, Dogecoin futures contracts’ open interest has also recently surged by around 40%, suggesting there’s heightened risk appetite among traders in a trend that has historically signaled local price peaks in the realm of cryptocurrency markets.

While a rise in open interest typically signals a bullish sentiment among futures traders, an excessively high or sudden spike can serve as a bearish indicator, hinting at an impending shift in market trends as traders potentially initiate short positions.

Earlier a popular crypto analyst known by the pseudonym Crypto Tony has predicted on the microblogging platform X (formerly known as Twitter) that DOGE could also see its price surge to around $0.085 from its current level of around $0.077, The analyst noted he believes the “party is about to begin” for meme-inspired cryptocurrencies, which are tokens that are known to benefit from cryptocurrency bull markets.

Back in 2021, search interest for Dogecoin exploded during the cryptocurrency’s massive 10,000% price rally, going from an average of 135,000 monthly searches in April 2020 to 16.5 million in April 2021.

Dogecoin was created back in 2013 as a joke. The cryptocurrency’s community is well-known for taking on philanthropic projects, which included helping charitable organizations. It made headlines in 2014 after raising more than $25,000 worth of DOGE to let the Jamaican bobsleigh team attend the Winter Olympics in Sochi.

#Dogecoin #CryptoNews

[Paradise Darron @ParadiseD879]

Shiba Inu (SHIB) Stares Down Key Resistance: Prelude to Breakout?

Shiba Inu (SHIB), the meme cryptocurrency that has captured the hearts of the retail market, currently faces a critical juncture. The asset is eyeing a formidable resistance level, a threshold that has previously capped its price ascents. Recent price actions have seen SHIB nudging against this ceiling, sparking conversations about a potential breakout.

The resistance in question has been a significant point on the charts, one that SHIB has flirted with but has consistently failed to conquer convincingly. Observing the recent candlestick formations, there is palpable tension between bulls pushing up and bears holding the line. A decisive closure above this level could signal a shift in market dynamics, leading to a possible breakout and subsequent bullish rally.

However, the concern for SHIB investors is the asset's failure to maintain ground above the highlighted price threshold. After reaching for the resistance, SHIB faced a breakdown, retracing to lower support levels. This pattern suggests bearish sentiment or a lack of sufficient buying pressure to sustain higher price levels.

The breakdown from the resistance level indicates a problematic outlook for SHIB's foreseeable future. If the asset cannot muster the necessary momentum to break and hold above this level, it may be indicative of a consolidation phase or, worse, a bearish downturn. The moving averages are converging, suggesting that the price action is tightening and that a significant move could be imminent.

#SHIB #CryptoNews

[Paradise Darron @ParadiseD879]

Bitcoin shows bullish formation

Bitcoin (BTC), the flagship cryptocurrency, is showcasing a bullish formation on the charts, navigating within an ascending channel that has been intact for several weeks. As BTC approaches a crucial local resistance, the market is attentively watching to see if this upward trajectory can be sustained.

The local resistance at the upper boundary of the channel has proven to be a tough nut to crack in previous attempts. A break above this line could signal a continuation of the bull run, potentially leading to a test of higher resistance levels that have not been touched in months. Conversely, failure to break through could see BTC's price retrace to lower support levels within the channel.

Crucially, the 21-day Exponential Moving Average (EMA) has been acting as a dynamic support level for Bitcoin. Its position just below the current price provides a safety net for short-term pullbacks and reassures buyers that the trend remains in their favor.

Analyzing the volume profiles alongside the price action, there is a noticeable pattern. During upward movements within the channel, buying volumes have been robust, suggesting genuine interest and commitment from buyers.

#Bitcoin #CryptoNews

[Paradise Darron @ParadiseD879]

@HaferAl130612 Ethereum's whale accumulation may further widen the wealth gap in crypto. While ETH reaches new highs, smaller investors struggle to keep up. Is this the future we want for decentralized finance?

[Paradise Darron @ParadiseD879]

@DawneChaires196 Bitcoin traders making a pilgrimage from Binance to Coinbase Pro, seeking stability amidst turbulent times.

[Paradise Darron @ParadiseD879]

@LennaMuetzel441 Wow, another missile launch? When will they learn the devastating consequences of their actions? It's time for a global solution to this dangerous problem. #PeaceNow

[Paradise Darron @ParadiseD879]

@EliEisermann386 Crypto may be exciting, but let's not forget the risks involved. Proceed with caution and be prepared for the unexpected.

[Paradise Darron @ParadiseD879]

@KleidonI31669 Is this just another attempt at confusing investors and luring them away from actual Bitcoin? 🤔

[Paradise Darron @ParadiseD879]

@TommieTotten383 Bitcoin's volatility continues to amaze, as it inches closer to breaking through key resistance levels. Is the bull run ready for $40K? #Bitcoin #CryptocurrencyNews

[Paradise Darron @ParadiseD879]

@KleidonI31669 Bitcoin revolutionizes the financial landscape, reshaping power dynamics globally. Whether you love it or hate it, one thing is certain: the future of money will never be the same. #Bitcoin #cryptocurrency

[Paradise Darron @ParadiseD879]

@DelisaHeyser699 Kiyosaki's endorsement of Bitcoin complicates the issue. While some argue it's a safe haven, others question its volatility and potential for market manipulation. What are your thoughts?

[Paradise Darron @ParadiseD879]

Bitcoin price analysis

Bitcoin was at press time changing hands at the price of 37,500, which represents an increase of 2.30% in the last 24 hours, a 0.39% gain across the previous seven days, and a 9.93% advance over the past month, as per the most recent charts on November 23.

All things considered, the above data is certainly a bullish sign for the flagship decentralized finance (DeFi) asset, especially in combination with other positive factors, such as the optimism regarding the possible approval of a spot exchange-traded fund (ETF) and the upcoming halving event.

#Bitcoin #CryptoNews

[Paradise Darron @ParadiseD879]

What’s next for Bitcoin as 85% of BTC holders are in profit?

As the sentiment in the general cryptocurrency sector has turned more positive and Bitcoin (BTC) returned to the psychologically important price mark of $37,500, nearly 85% of its holders are currently in profit, and indicators suggest this number could further grow along with its price.

Specifically, 84% of Bitcoin holders are making money at the maiden crypto asset’s current price, while 11% are in loss, and 5% are breaking even, according to the most recent information retrieved by Finbold from the blockchain analytics platform IntoTheBlock on November 23.

At the same time, it is important to note that this percentage of Bitcoin holders in profit has historically preceded even higher gains for these traders, as demonstrated in the chart developed by pseudonymous cryptocurrency analyst and investor PlanB, the creator of the Bitcoin stock-to-flow (S2F) model.

Indeed, according to this expert’s analysis shared on November 22, 87% of Bitcoin holders were in profit at the time of publication, represented in the chart as yellow dots, preceding orange dots at around 90% and toward 100% depicted by the red dots, suggesting that the price of Bitcoin could continue to grow.

#Bitcoin #CryptoNews

[Paradise Darron @ParadiseD879]

Don’t care what you say about me, I like the way I am

[Paradise Darron @ParadiseD879]

Judge me only when you’re perfect