bitcoinlfg

Tag: Price

  • SUI price outlook: bulls on edge as $173M token unlock looms

    SUI price outlook: bulls on edge as $173M token unlock looms

    SUI price outlook: bulls on edge as $173M token unlock looms

    • Sui gained 7% in the past day to $3.94 intraday high.
    • A massive unlock on August 1 sparks fears of potential bearish pressure.
    • Holdings above $0.275 could support imminent breakouts.

    Digital currencies saw mild gains on Friday as the global crypto market cap increased by 0.55% the previous 24 hours to $3.9 trillion.

    While most alts signal recoveries, SUI led today’s gainers with an over 7% surge to $3.94.

    The uptrend has excited enthusiasts who are watching for new breakouts.

    Nevertheless, the upcoming $173 million SUI unlock on August 1 has dented investor confidence due to potential selling pressure after the massive token release.

    Can the altcoin withstand the bearish storm?

    SUI’s August 1 unlock

    Token unlocks are usual in the cryptocurrency market, but they often trigger anxiety as they can influence short-term price actions.

    Sui’s upcoming unlock isn’t an exception.

    According to Tokenomist, Sui will release 44 million tokens, worth around $173 million at current prices, on August 1.

    That’s a massive figure, especially considering the prevailing broad market uncertainty and SUI’s market dynamics.

    Significant token unlocks flood the markets, possibly introducing substantial selling pressure when recipients offload part of their balances.

    In Sui’s case, the $173 million unlock could test its current momentum.

    The altcoin trades at $3.95, and participants would now closely watch the ‘reliable’ support barrier at $3.75.

    The foothold has previously held strong amid pullbacks.

    If SUI holds $3.75 throughout unlock-driven volatility, it would be an optimistic signal.

    Healthy performance after token release will indicate impressive demand despite the surge in supply.

    Such an outlook would position Sui as a maturing blockchain unbothered by short-term events.

    Bulls could hold the line after July’s robust performance

    The primary question remains whether buyers can maintain control amidst the supply shock.

    The latest uptick to $3.94 has renewed optimism about another breakout.

    However, SUI should hold above the support at $3.75 to absorb the upcoming token supply without panic selling.

    Meanwhile, SUI heads into August after an impressive monthly performance, which will likely add upside steam.

    Sui’s total value locked closed July with a fresh all-time high above $2 billion after stable uptrends since late June.

    A surging TVL is crucial since it confirms the chain’s overall financial health, highlighting increased adoption and growth.

    It is a key liquidity indicator.

    More total value locked makes it easier for individuals to execute trades without substantial price slippages.

    Also, SUI’s decentralised exchange (DEX) volume hit record highs of $14.3 billion in July.

    SUI’s current price outlook

    The altcoin displayed impressive recoveries after hitting a low of $3.69 yesterday.

    SUI trades at $3.94 with a 15% uptick in trading volume, demonstrating a possible momentum shift to the upside.

    Short-term technical indicators suggest a buyer comeback.

    The MACD has just made a bullish crossover with the signal line on the 3H timeframe.

    Moreover, the RSI at 52 suggests neutral sentiments as bulls look to flip the script.

    Holding $3.75 amid the looming unlock might support uptrends to the Monday high near $4.35, opening the path to $5.

    Share this article
    Categories
    Tags

    Source link

  • XDC Network price forecast amid Binance US listing news

    XDC Network price forecast amid Binance US listing news

    XDC Network price forecast amid Binance US listing

    • XDC Network token price surged above $0.10 after the Binance.US listing news.
    • The token’s price has since dipped, but it still holds strong above key support at $0.085.
    • Fundamentals like LayerZero and ETP launch fuel the uptrend.

    The XDC Network has been gaining traction in recent weeks, and its latest listing on Binance.US has only amplified the growing market interest.

    After months of steady progress, the blockchain project is now in the spotlight following a sharp price movement and renewed investor confidence.

    Binance US listing sends XDC price soaring

    On July 30, Binance.US officially opened trading for the XDC/USDT pair, following a brief deposit window that allowed users to prepare their accounts in advance.

    The announcement, which was made on July 29, pushed XDC prices sharply higher, with the token rallying more than 11% within 24 hours. It climbed from around $0.08985 to briefly break above the key $0.10 resistance, peaking near $0.10167.

    This move was not just about speculative hype. The breakout was supported by consistent trading volume and a steady formation of higher lows, indicating that buyers were stepping in rather than exiting the market.

    The surge through the psychological $0.10 level signalled a return of bullish sentiment, which could set the stage for further gains if momentum continues to build.

    Healthy pullback hints at a strategic entry

    Despite the initial rally, XDC experienced a modest retracement after touching the $0.10 mark.

    However, the dip has been largely viewed as a healthy correction within a broader uptrend.

    Importantly, the token remains well above its 20-day exponential moving average, which has consistently acted as dynamic support during the recent rally.

    XDC Network token price chart

    The price is now hovering around the $0.098 mark, with the $0.085–$0.088 region emerging as a critical support zone. This area coincides with former resistance and trendline support, making it a strong demand level.

    Should buyers defend this zone, the token could make another attempt at breaking above its recent high, potentially targeting $0.105 or even $0.115 in the near term.

    Strong fundamentals are driving the uptrend

    The recent price movements are not happening in isolation.

    Several strong fundamental factors have been reinforcing XDC’s upward momentum. Chief among them is its successful integration with LayerZero, which went live on July 9.

    This cross-chain upgrade has enabled seamless and zero-slippage transfers between XDC and major networks like Ethereum and Solana. This has significantly boosted XDC’s utility and interoperability, making it more attractive to both developers and long-term investors.

    Additionally, institutional interest in XDC is growing. The launch of the 21Shares XDC ETP on Euronext Amsterdam and Paris earlier this month marked a major milestone in XDC’s journey toward mainstream adoption.

    On top of that, its partnership with Archax — a regulated digital securities exchange — has positioned XDC well for compliance under the EU’s Markets in Crypto-Assets (MiCA) framework, signalling an alignment with regulatory expectations.

    What traders should watch for next

    With the Binance.US listing now live, traders are closely watching how the market reacts in the days following the event.

    While early price spikes are common during major listings, sustained growth depends on volume retention and broader market sentiment.

    XDC’s ability to maintain support above the $0.085 zone could be crucial in determining its short-term direction.

    If buyers continue to defend this level, and if broader crypto markets remain stable, XDC could soon challenge its next resistance levels at $0.11 and $0.12.

    However, a failure to hold key support could open the door for a retest of the $0.080 area, which may unsettle short-term bulls.

    For now, the current dip could be a potential buy-the-dip opportunity within a strong uptrend.

    Share this article
    Categories
    Tags

    Source link

  • Omni Network price jumps 90% as Upbit lists OMNI token

    Omni Network price jumps 90% as Upbit lists OMNI token

    Omni Network Listing On Upbit

    • Omni Network (OMNI) price recorded a near triple-digit gain to break from intraday lows of $2.5 to highs of $7.13.
    • The token traded around $5.37 at the time of writing, 90% up in the past 24 hours.
    • Gains came amid OMNI listing on South Korea’s largest crypto exchange Upbit.

    Omni Network (OMNI) trended as the top gaining token among the 500 largest coins by market cap on Tuesday, recording a double-digit gain to break from intraday lows of $2.5 to highs of $7.13.

    While the price has retreated from the intraday peak to currently sit around $5.37, it still sports an impressive 90% gain in the past 24 hours.

    The daily volume was up 455% to over $584 million, with the dramatic price gain aligning with a speculative rally largely attributed to the token’s latest milestone.

    Why is OMNI price exploding?

    OMNI hovered flat and under $3.2 since dropping from highs of $5.50 on July 11, 2025. Before then, Omni Network price had struggled with bearish pressure below $1.7.

    So why did OMNI explode today?

    Many small cap tokens have seen a notable flip amid overall gains for mega cap tokens such as Ethereum, XRP and Solana.

    However, some small caps are seeing huge moves, and for Omni, the primary catalyst appears to be the official listing of OMNI on Upbit, the largest crypto exchange in South Korea.

    As detailed in an announcement on X, Upbit, known for its substantial user base and high trading volumes, has added support for OMNI.

    The exchange’s listing news has often triggered meteoric rises in both price and activity for newly listed assets, and it looks to be no different for Omni Network.

    Upbit is listing the OMNI/KRW trading pair with the market commencing at 18:30 local time on July 29, 2025.

    OMNI’s price experienced a volatile swing following the news, with the token reaching a high of approximately $7.13.

    The near triple-digit gain saw OMNI extend gains over the past month to over 250%. Bulls were also up 285% since the all-time lows of $1.37 reached on July 6, 2025.

    The overall upward trajectory could see buyers target more gains.

    Omni Network price prediction

    Looking at the Omni Network price charts, technical indicators are largely bullish.

    However, the Relative Strength Index (RSI) currently hovers around 80 and is in the overbought territory.

    This signals potential correction in the near term amid profit taking. Bulls may nonetheless attempt to put bears off around key support at $3.45.

    OMNI price chart by TradingView

    This outlook will be helped by the Moving Average Convergence Divergence (MACD), which continues to signal bullish momentum with the MACD line above the signal line.

    If bulls hold above $4.50, which serves as a critical support level, they could target a breakout to $10.5 and probably December 2024 highs of $15. Downside pressure could see OMNI’s price slip to $3.45 and $2.

    Share this article
    Categories
    Tags



    Source link

  • Zircuit price rises sharply as Binance adds ZRC perps

    Zircuit price rises sharply as Binance adds ZRC perps

    Binance Adds Zircuit Perpetual Contracts

    • Zircuit price jumped 11% as Binance Futures announced support for ZRC perpetual contracts. 
    • The ZRC token traded to highs of $0.038 as daily volume picked up.
    • Zircuit is also listed on Binance Alpha and recently launched a key product likely to catalyze more gains.

    Zircuit (ZRC) saw its price rise sharply on Tuesday morning as Binance Futures announced support for ZRC perpetual contracts.

    The token traded at $0.038, up 11% in the past 24 hours as the price bounced off lows of $0.034.

    Binance’s latest announcement, coupled with Zircuit’s inclusion on Binance Alpha, could catalyze more gains for the native token of this AI-powered blockchain platform.

    Zircuit price rises sharply as Binance adds futures trading

    Binance has added trading support for Zircuit (ZRC) perpetual futures on its platform, according to an announcement on July 29, 2025.

    While listing on Binance Futures does not guarantee spot listing, the move is crucial for Zircuit as it allows traders increased exposure to ZRC through leveraged trading.

    Binance will offer support for up to 50x leverage for ZRC perps on its platform.

    The listing on Binance Futures, a leading platform for cryptocurrency derivatives, amplifies ZRC’s visibility and accessibility.

    In terms of market traction, this is poised to attract more investor participation, both retail and institutional.

    According to Binance’s official announcement, the listing enhances ZRC’s liquidity and provides traders with advanced tools to capitalize on market movements, further fueling its upward trajectory.

    In addition to the Futures listing, Zircuit is also on Binance Alpha, a platform designed to showcase high-potential projects.

    Reaction to the announcement saw ZRC’s price, which hovered around $0.034 after paring gains from highs of $0.042, quickly recoup some of the losses.

    The token rose to $0.038 and looked poised to reclaim the $0.040 mark as daily volume rose.

    ZRC price forecast

    On the technical front, indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) support upside continuation.

    The latter shows a bullish crossover while RSI is at 57. However, the histogram is weakening and the RSI is slightly downsloping.

    Despite this outlook, ZRC’s price has gained amid key bullish catalysts, including the launch of Zircuit AI Vault.

    The product offers users the chance to deposit tokens and earn passive, secure yield on stablecoins and top coins such as Ethereum (ETH) and Bitcoin (BTC).

    Its AI trading engine provides for real‑time signal detection and cross‑chain execution on Ethereum Virtual Machine-compatible chains and Solana.

    Amid these developments, ZRC price could ride the overall market sentiment to eye 2025 highs of $0.05 and then $0.13 peak seen in November 2024.

    Share this article
    Categories
    Tags



    Source link

  • FARTCOIN price dips 20% as top whale takes profit

    FARTCOIN price dips 20% as top whale takes profit

    FARTCOIN price dips 20% as top whale takes profit

    • A large-scale holder has just offloaded 3 million FARTCOIN.
    • The meme token’s price has dropped 20% on the 24-hour chart.
    • Meme cryptos have plunged after the latest criticisms from Solana’s co-founder.

    Digital tokens recorded mixed performances in the past 24 hours, with most coins plunging.

    The meme token space witnessed multiple activities.

    While Gemini announced DOGE and SHIB as collaterals, a dramatic move shocked the Fartcoin community.

    According to Lookonchain, address 24BLFj has dumped a massive 3 million FARTCOIN tokens, pocketing $3.65 million.

    The investor sold at $1.22 as Fartcoin plunged from the intraday high of $1.4017.

    The meme cryptocurrency fell to $1.1253, a 19.71% decline from the daily peak.

    While Solana co-founder’s latest criticism of meme assets contributes to FARTCOIN’s weakness, the whale sell-off adds to the selling pressure.

    Anatoly Yakovenko said NFTs and meme cryptocurrencies lack intrinsic value.

    Meanwhile, this whale has invested in Fartcoin since late February, accumulating 8.89 million coins at discounted prices.

    Notably, the whale spent $0.26 on average to purchase the assets between 26 February and 21 March.

    The strategic investment, worth only $2.31 million, has grown to a massive profit of $8.07 million, a 349% ROI.

    While the large-scale offload has impacted the markets, it also shows that the investor played a long game with FARTCOIN.

    Most importantly, the sale could indicate dwindling confidence in FARTCOIN’s short-term performance.

    Is the meme token set for further declines?

    Fartcoin has plummeted continuously from $1.6843 on 23 July.

    Nevertheless, the whale has not dumped all his stash.

    They still hold FARTCOIN worth approximately $2.15 million (1.89 million coins).

    Thus, the offload signals a potential strategy change, not a complete exit. The investor could be bracing for more returns in a rebound.

    Most importantly, the sale reflects a calculated move.

    While panic sellers dump all their assets at once, the smart whale takes partial profits while waiting for any future rally.

    FARTCOIN price outlook

    The meme coin trades at $1.18 with a bearish structure.

    The 50% increase in daily trading volume signals intensified trader activity in FARTCOIN.

    That signals players seeking opportunities in the prevailing volatility or exiting their positions.

    The prevailing broad market sentiments support continued struggle for Fartcoin.

    Meme coin market overview

    The meme cryptocurrency space endured a bloodbath on Tuesday, with Dogecoin, Shiba Inu, and PEPE losing up to 10% on their daily charts.

    The seven-day timeframe also confirms bearish dominance.

    Only PENGU (+8.5%) and SPX (+18%) exhibit 7D days among the top meme coins by value.

    CoinGecko data shows the meme coins’ market cap plunged 4.6% the previous day to $79.55 billion.

    The substantial daily trading volume dip indicates dwindling interest in themed digital coins.

    The latest critique by Solana co-founder Anatoly Yakovenko magnified bearish sentiments in the meme crypto space.

    While meme activity has fueled Solana’s growth, Yakovenko blasted the asset class.

    He boldly said that “memecoins and NFTs are digital slop and have no intrinsic value.”

    Nevertheless, meme cryptocurrencies have proven crucial for the digital assets economy, often used as a proxy for broad market sentiments.
    Share this article
    Categories
    Tags



    Source link

  • Why did Conflux price spike 38% today?

    Why did Conflux price spike 38% today?

    Conflux Price Surge

    • Conflux price rose 38% amid multiple key integrations.
    • Bulls could push CFX price to $0.50 and target $1 in the short term.
    • Most cryptocurrencies are trading at key support levels, with Conflux set to ride on overall bullish sentiment.

    Conflux (CFX) price rose 38% in 24 hours to hit highs of $0.27 and lead top gainers in early trading on July 29.

    The gains came amid several strategic integrations and partnerships for Conflux, with daily volume also rising as CFX jumped to prices last seen in mid-April.

    A technical outlook suggests a retest of the $0.50 level is possible as Conflux continues to attract attention as a decentralised finance and artificial intelligence ecosystem.

    Conflux price: CFX gains amid major network integrations

    Conflux Network’s native token has benefited from fresh upside momentum as the ecosystem sees a series of high-profile collaborations.

    Both in DeFi and AI, these integrations are set to enhance the utility and market appeal of CFX.

    Among the pivotal developments is the partnership with OrcaMind.AI, which brings AI-driven payment solutions to the Conflux Network.

    Set to amplify upside momentum is the announcement that Conflux Network has joined forces with Fufuture, a decentralised perpetuals platform, a move set to integrate advanced trading capabilities and expand CFX adoption.

    These efforts add to recent momentum fueled by Conflux’s partnership with AnchorX and Eastcompeace Technology to unveil an offshore yuan-pegged stablecoin.

    “We have joined forces with AnchorX and Eastcompeace Technology for offshore RMB stablecoin (AxCNH) projects, cross-border settlement, and RWA initiatives across Belt and Road countries,” Conflux posted on X.

    Also crucial is Conflux’s mainnet upgrade, with transactions boost adding to scalability as the network looks to expand its footprint across real-world assets tokenisation and cross-border payments.

    Support in China is a major factor for CFX.

    CFX price outlook

    Bullish sentiment has indeed catalysed a 34% uptick this past week and over 250% in the past month.

    However, Conflux price remains well off the all-time high of $1.70 reached in 2021.

    Conflux price chart by CoinMarketCap

    What’s next for CFX is therefore a key sentiment factor for analysts and investors, who might look at the 24-hour spike of 38% and 250% in 30 days as a pointer to where prices might go next.

    The integrations and partnerships could drive more gains, albeit with market volatility and the overall crypto outlook a significant consideration.

    But should the network continue to leverage AI integration and cross-chain capabilities, a bounce in altcoins will solidify CFX’s upward potential.

    A breakout to $0.50 in the short term will allow bulls to target $1 and higher. Meanwhile, a downward flip may bring $0.20 and 0.15 into play as support levels.
    Share this article
    Categories
    Tags



    Source link

  • SUI price: bulls eye all-time high amid spike above $4

    SUI price: bulls eye all-time high amid spike above $4

    Sui Price

    • Sui’s price is above $4.20 after surging more than 56% over the past month. 
    • The token’s rally has pushed the total value locked to all-time highs amid a surge in open interest.
    • Bulls could target the SUI all-time high of $5.35 reached in January 2025.

    Sui (SUI) has broken above $4.20 amid a notable 56% surge over the past month.

    This rally brings SUI tantalizingly close to its all-time high of $5.35, recorded in January 2025.

    It also means an impressive rally from April lows of $1.90, putting the token alongside top performers PancakeSwap, BNB and Optimism.

    Sui price jumps above $4 as TVL, open interest surge

    While Sui isn’t the standout performer in the past day or week, the token has gained over 56% in the past month.

    This has allowed it to break above $4.20 and see bulls come within reach of all-time highs witnessed in January 2025.

    Sui is also significantly up since lows of $1.9 in April 2025, with the cryptocurrency showing remarkable recovery since plummeting amid the Cetus protocol hack.

    Bulls’ dominance as top altcoins rally means Sui has experienced a notable spike in its total value locked (TVL).

    According to DeFiLlama, the project’s TVL has surpassed $3 billion, including staking, borrowings and vesting tokens.

    Key protocols like Suilend, NAVI and Bluefin have witnessed a spike in their respective TVLs to boost Sui’s.

    As well as DeFi activity, Sui is recording notable upside in the futures market.

    Per data by Coinglass, open interest in SUI has surged 10% to $2.7 billion, with strong speculative interest showing in the $7.4 billion in derivatives volume.

    Long positions dominate, suggesting overall bullish sentiment. As TVL rises and open interest grows, Sui’s market outlook becomes increasingly bullish.

    If market conditions support an upward flip, it could be a new ATH for Sui within the short term.

    Token unlocks are nonetheless a factor to watch.

    SUI price prediction

    Looking at the technical picture, SUI’s price trajectory appears upbeat.

    Technical indicators, such as the Relative Strength Index (RSI), support the bullish outlook.

    RSI currently sits at 65, having retreated from overbought territory, which means there’s room for further gains without SUI flipping immediately overheating.

    SUI chart by TradingView

    Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover.

    The MACD line is above the signal line to suggest bulls have an upper hand.

    Despite an upcoming cliff unlock, analysts predict SUI price could soon retest its all-time high of $5.35.

    Price discovery could push the token’s value even higher. However, the token unlock and short-term profit taking may derail bulls.

    SUI currently trades around $4.21, about 6% up in the past week.
    Share this article
    Categories
    Tags



    Source link

  • Optimism price spikes as OP lands on South Korea’s largest crypto exchange

    Optimism price spikes as OP lands on South Korea’s largest crypto exchange

    • Optimism price increased by more than 13% to highs of $0.84 amid gains for PancakeSwap, Ethena and SPX6900.
    • Upbit, South Korea’s leading crypto exchange, announced the listing of the Ethereum layer 2 scaling solution’s native token OP.
    • The price of OP could explode 100% as bulls eye $2.

    Optimism (OP) price is up double-digits, mirroring moves by PancakeSwap, Ethena and SPX6900 as top altcoins by 24-hour gains.

    Gains for the native token of the Ethereum layer 2 scaling solution come amid a major boost from Upbit, South Korea’s dominant crypto exchange.

    With new trading pairs set to launch for OP, price could follow.

    South Korea’s Upbit adds support for Optimism

    Upbit, a titan in South Korea’s crypto landscape, is rolling out new trading pairs for Optimism (OP).

    The exchange said this in an official announcement posted earlier today.

    In it, Upbit confirms that trading support will kick off at 16:30 KST, bringing massive trading volume and liquidity to OP.

    With South Korea being a big crypto market, this news has buoyed OP’s daily volume and price.

    As noted, Optimism has managed an impressive 13% spike from its recent trough of $0.71 to a peak of $0.84.

    The surge is accompanied by a staggering 420% spike in trading volume, which surged past $700 million.

    It’s a reaction that reinforces Upbit’s reputation as one of crypto’s biggest exchanges by daily volume.

    The listing may bolster bulls and bring new highs into the picture.

    OP has also traded higher in recent weeks after $956 billion asset manager Hamilton Lane expanded its flagship fund, Senior Credit Opportunities Securitize Fund (SCOPE), to Optimism and the Ethereum mainnet.

    Optimism price forecast: Another 100% gain for OP?

    As the crypto market holds onto bullish sentiment and analysts say altcoin season is yet to unfold, one of the coins to watch is Optimism.

    The OP token teeters on the verge of a breakout, with Upbit’s listing a potentially huge catalyst.

    Notably, the exchange’s vast user base and low 0.05% KRW trading fees could propel OP into the spotlight, potentially attracting both retail and institutional players.

    A look at technical indicators shows bulls have an upper hand.

    Optimism price chart by TradingView

    The daily chart has a rising Relative Strength Index (RSI), which signals robust buying pressure.

    OP’s price outlook is also positive as indicated by the Moving Average Convergence Divergence (MACD), currently sporting a bullish crossover.

    While Optimism price hovers near $0.82 at the time of writing, upside momentum amid fresh retail demand could help push it past $1.

    The token last traded at highs of $1.2 in April. If buyers reclaim this level, a break to $2 and YTD peak of $2.1 is likely.

    However, if sellers emerge amid the Upbit listing-driven hype, primary support levels are around $0.74 and $0.68.
    Share this article
    Categories
    Tags

    Source link

  • Bitcoin L2 Stacks (STX) price drops heavily after transaction suspension

    Bitcoin L2 Stacks (STX) price drops heavily after transaction suspension

    Bitcoin L2 Stacks (STX) price drops heavily amid transaction suspension news

    • Stacks (STX) drops 2.5% as Bithumb announces temporary halting of transactions.
    • Network upgrades aim to boost Stacks’ security and features.
    • The suspension of transactions is scheduled to begin on July 29.

    Stacks (STX) token has seen its price drop by 11.4% in a week, even as the Bitcoin (BTC) price remains largely bullish.

    The decline comes at a time when excitement is building around Bitcoin-based DeFi and key network upgrades are underway.

    However, a major development from South Korean exchange Bithumb appears to have influenced investor sentiment, triggering notable short-term pressure on the STX token.

    Price pressure hits Stacks (STX) despite DeFi momentum

    STX is currently trading at $0.7786, marking a drop of 2.5% today and a sharp 11.4% decline over the past seven days.

    This drop comes even as Bitcoin, the asset it is built to complement, maintains a largely positive trend.

    The downward move has raised eyebrows among market watchers, especially given the recent momentum around the Stacks DeFi ecosystem.

    But despite the drop, STX has still gained more than 15% over the last month, driven in part by the ongoing “STX DeFi SZN” campaign — a collaborative launch among leading Bitcoin DeFi protocols.

    Through a partnership with Zealy.io, the campaign is offering 50,000 STX in rewards for users completing on-chain quests.

    While the broader DeFi push is designed to strengthen the ecosystem, it hasn’t been enough to offset short-term fears triggered by external factors.

    Bithumb’s temporary suspension fuels uncertainty

    One of the main catalysts behind STX’s recent price dip is the news of Bithumb’s announcement of a temporary suspension of STX deposits and withdrawals.

    Scheduled to begin at 03:00 UTC on July 29, according to a report by Bitcoin World, the suspension is aimed at supporting a significant upgrade of the Stacks network.

    For many traders, however, the move has sparked concern.

    Even though such suspensions are standard during blockchain upgrades, the market often reacts with caution.

    Investors worry about temporary inaccessibility and possible disruptions in trading activity.

    As a result, some may have opted to sell early to avoid complications, contributing to the current price decline.

    Stacks upgrades bring long-term promise

    The Stacks Network upgrades themselves are crucial milestones for the network.

    Stacks is a Bitcoin Layer 1 blockchain that enables smart contracts and decentralised apps (dApps) to run using Bitcoin as the settlement layer.

    It brings programmability to Bitcoin without changing Bitcoin itself.

    Transactions on Stacks are automatically hashed and secured by Bitcoin’s hashpower through a mechanism known as Proof of Transfer (PoX).

    This approach makes Stacks one of the most secure smart contract layers available today.

    The upcoming upgrade is expected to enhance this security while improving performance and enabling new features for developers and users alike.

    Moreover, STX plays a central role in this ecosystem. It is used for transaction fees, governance decisions, and stacking, where users can earn Bitcoin by locking their tokens.

    As the Stacks network upgrades progress, STX may gain greater utility and adoption, potentially reversing the current downtrend over time.
    Share this article
    Categories
    Tags

    Source link

  • Will Onyx V2 spark a bullish breakout in XCN price?

    Will Onyx V2 spark a bullish breakout in XCN price?

    A Healthy Bull in green Environment

    • Onyxcoin (XCN) price is around $0.015, down 19% over the past week.
    • XCN is under pressure as the broader market battles fresh selling as traders book profits.
    • Onyx V2’s anticipated launch and the regulatory clarity provided by the CLARITY Act could be a bullish catalyst.

    Onyxcoin (XCN), the native token of the web3 protocols ecosystem Onyx, is experiencing the downside pressure that currently engulfs the broader crypto market. Celestia is among the altcoins to see 24-hour losses.

    As of writing, XCN is trading at $0.01538, with a 24-hour trading volume of over $38 million.

    While the market cap has dipped to $527 million, the slight uptick in daily volume indicates a notable level of market interest.

    Onyx eyes traction with V2 ahead of CLARITY law

    The Onyx ecosystem is gearing up for a significant upgrade with the impending launch of Onyx V2, aimed at enhancing compliance and functionality.

    According to a recent announcement by OnyxDAO on X, the launch of Onyx V2 is designed to meet the highest compliance standards under the United States’ crypto markets regulation CLARITY Act.

    The CLARITY Act, formally known as H.R. 3633, aims to provide a clear regulatory framework for digital assets by distinguishing between digital commodities, securities-like assets, and stablecoins.

    As Onyx notes in its post on X, the V2 rollout will position XCN “as a Digital Commodity Token within a Mature Blockchain System.”

    Potentially, this means broadening the project’s appeal to institutional investors amid broader regulatory compliance.

    Onyx has cautioned the community that there will be no token swaps, with users asked to beware of scams and fake airdrops.

    Onyxcoin price outlook

    The anticipation surrounding Onyx V2 could spark considerable interest in XCN, hence catalyzing an upward flip.

    Among market outlook indicators traders are watching to gauge potential price movements is open interest.

    While XCN derivatives have seen a slight decrease in OI, the weighted funding rate remains positive. Derivatives volume, which reflects trading activity in futures and options, has also fallen 14% to around $25 million.

    From a technical point of view, indicators on the daily chart further support a short term bearish strength.

    The Relative Strength Index (RSI) for XCN is currently at 43, not yet oversold. However, it is downsloping to suggest sellers could gain momentum.

    Onyxcoin XCN Price
    XCN price chart by TradingView

    Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the MACD line crossing below the signal line. XCN price is also near the support line of a falling wedge, and a drop could extend losses.

    Interestingly, Onyxcoin is down 19% over the past week and has pared most of the gains seen when price jumped to highs of $0.02 in mid-July.

    XCN is nonetheless more than 914% up in the past year. While this suggests a bullish trend amidst broader market volatility, price is near a critical support level.
    Share this article
    Categories
    Tags



    Source link