Mujeeb🔄🎩ðŸŽ
@mujeeb
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Ethereum (ETH) has seen a 4.6% price surge to $3,380, driven by weaker-than-expected CPI data and robust market activity. Key insights:
Whale Activity and Market Trends
1. A giant whale deposited 20,000 ETH ($67.6 million) into Kraken, sparking discussions about large-scale investor activity.
2. Ethereum's price has moved within a range of $1,500 to $4,500 over the past year, demonstrating both bullish and bearish phases.
Technical Analysis
1. ETH's recent rally tested a strong resistance level at $3,400; breaking past this level could pave the way for a challenge to the $3,500-$3,600 range.
2. Ethereum has been trading above its 50-day and 200-day moving averages.
Network Resilience
1. Ethereum's active addresses have seen a steady uptick over the last few months, demonstrating strong participation across the ecosystem.
2. Periods of rising active addresses have often coincided with price rallies. 2 replies
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Solana's (SOL) price has decreased by over 1.50%, currently trading at $191, with a rising wedge pattern forming below the $200 resistance level. Key highlights:
- A break above $200 could trigger a significant rally, targeting $236 and potentially extending above $400 in Q1 2025.
- Failure to surpass $200 might result in a pullback to lower support levels around $180.
- Solana's Total Value Locked (TVL) has reached $20 billion, an all-time high, signaling robust participation in staking, borrowing, and liquid staking.
- Daily fees collected amount to $3.22 million, reflecting high network usage, while volume totals $3.293 billion.
- Solana's market cap stands at $91.682 billion, positioning it for possible growth into 2025.
- The network's financial performance in December 2024 was significant, with DEX trading volume and revenue generation from Pumpdotfun exceeding $80 million. 1 reply
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Toncoin (TON) has seen a decline in interest for swaps on its decentralized exchanges, potentially impacting its price. Key highlights:
- The number of swaps on TON DEX has sharply declined, with average daily users dropping to 13,300 and 5,250 on (link unavailable) and DeDust, respectively.
- The decline is attributed to reduced open positions, uncertainty over legal issues, and unfavorable market conditions.
- Investors are shifting interest from decentralized trading to staking, which could provide a strategic opportunity.
- The decline in interest for swaps reflects reduced buying pressure and increased uncertainty, leading to oversupply and reduced scarcity.
- TON's stock-to-flow ratio has dropped, and supply on exchanges has spiked, indicating potential selling pressure and downward price pressure.
If conditions persist, TON could drop to $5.2. However, if investors view the decline as a buying opportunity, the altcoin could break out to $6.1. 0 reply
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