From the perception that Bitcoin could continue to fall further if the main support level collapses to the number of active users of TRON nearing the ATH level. Here are some outstanding news in the crypto market.
Analyst Jason Pizzino is warning that Bitcoin (BTC) is at risk of falling further if a key support level collapses.
In a recent video, Pizzino told his 330,000 YouTube subscribers that Bitcoin support at around $44,600 must hold to avoid a collapse that could send the leading asset back to prices last recorded in early January. 2023.
“Any close below $44,600 could push BTC below $40,000… And if BTC closes the monthly candle below $40,000, the underlying uptrend has been broken. That is when the game is over… BTC will continue to drop and test $30,000, even $20,000.”
Source: Jason Pizzino
According to Pizzino, Bitcoin can still continue its uptrend if it manages to stay above bull market support. He also Chia a chart showing that BTC could return above $60,000 by November this year.
“Bitcoin currently maintains its price above the bull market support level around $49,243. Therefore, the asset still has room to continue growing higher.”
Source: Jason Pizzino
TRON has demonstrated a resilient user base as the number of active users has increased since the beginning of the year and remains close to ATH levels, despite uncertainty and selling pressure in the broader cryptocurrency market .
Unique applications across the TRON ecosystem such as payments, stablecoins, and real-world assets have allowed the network to maintain and grow its user base, when other networks are struggling to Find a place in the market.
Source: CryptoQuant
Solana memecoin Dogwifhat (WIF) suddenly stood out as an outlier on Friday, posting strong gains of more than 20% over the past 24 hours, despite a previous wave of declines among Token in the sector. memecoin area.
WIF fell along with other memecoins, continuing the downward trend since Wednesday. However, the leading memecoin on the Solana network quickly reversed the trend, gaining around 14% in the past few hours.
The bearish outlook looks set to change for WIF as bulls returned as the price hit a three-month low of $1.58 on June 24. Buying pressure caused WIF to increase about 43% within a week before witnessing a correction due to the overall bearish market sentiment.
WIF price chart – 4 hours | Source: TradingView
The cryptocurrency market will see a wave of new Token Lockup unlocks in the coming weeks, with Aptos (APT), XAI and Immutable (IMX) set to flood the market with $161 million worth of new supply.
With these Token currently facing limitations due to the bearish market outlook, the unlock event could cause prices to drop further.
Token Lockup unlocking is often associated with a price drop as increased supply can dilute investors' existing holdings.
XAI will hold an unlock event on Monday, releasing $56.35 million worth of Token to its community. APT will unlock 63.3 million USD worth of new Token to add to the total supply, while IMX will unlock 41.57 million USD worth of Token .
Toncoin remained quiet for a long time before skyrocketing sharply, delivering much higher returns than some other investment assets.
When XEM at the top coins, only Solana outperforms Toncoin. To date, Bitcoin's bull run has occurred without any major inflows into altcoins.
If money begins to shift to altcoins, many believe that Toncoin will become a much-discussed topic.
In terms of performance, Toncoin is in a very favorable position. Analysts predict that it will surge when altcoin season arrives. Currently, Toncoin is not much affected by price drops, which shows its resilience and strength.
Source: CryptoQuant
Puffer Finance, a liquid reStaking protocol integrated into Eigenlayer, has deployed the first Based Rollup on Ethereum called Puffer UniFi to connect and solve the problem of liquidation Shard on layer-2.
In the context of the continuous development of layer-2 (L2) on Ethereum, the increasing appearance of layer-2 also leads to a Shard liquidation ecosystem. This reduces the effectiveness of assets across different layer-2s, affecting the user experience due to dependence on complex bridges.
This creates difficulties for developers to integrate and maintain their dApps on too many L2s, affecting the potential for expansion and development on Ethereum.
Puffer Finance's UniFi uses Ethereum sequencing to sequence transactions in the rollup and transactions are processed with high security. UniFi integrates a preconfirmation mechanism that provides users with transaction speeds of only about 100ms.
The UK Supreme Court ordered the freezing of Craig Wright's assets
The UK Supreme Court has granted a Freezing Order on Craig Wright's assets to assist Peter McCormack to recover £1.5 million in legal fees following a lawsuit.
Wright, who claimed to be Satoshi Nakamoto, lost an intellectual property case in which COPA evidence played a key role in refuting his claims.
This decision not only impacts Wright's statement but also affects the broader Bitcoin ecosystem.
You can XEM coin prices here.
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Viet Cuong
Bitcoin Magazine
