VanEck to Launch NFT Collection This Week
Bitcoin’s (BTC) price has failed to surpass the $40k level as sentiment remains weak in the crypto market. Traders’ confidence in the crypto market continues to drop amid the ongoing market-wide correction. Veteran trader Peter Brandt expects Bitcoin (BTC) price to test below $32,000. Moreover, the on-chain data is also not looking good for bitcoin as transactions in profit have increased. It means profit booking might be happening at higher levels.
On Sunday (May 1), Baby Doge Coin ($BABYDOGE), which is of the most popular meme-based crypto projects (with over 1.3 million followers on Twitter), celebrated its “11 month birthday.”
Ethereum, the world’s largest altcoin, followed a bearish path below the $2,850-pivot level. In fact, ETH even traded below the $2,800-support level amidst the wider correction within the market. It traded as low as $2,718 before the bulls appeared on the horizon. Soon after, Ether’s price started an upside correction and climbed above the $2,750-level. At press time, ETH, following a 2% hike, was trading at $2.85k. That’s not all, however, as ETH also noted a spike in burning activity.
Yuga Labs, the creator of the popular Bored Apes Yacht Club collection of NFTs, is calling the shots with its new Metaverse project. The company recently concluded the sale of virtual land raising a staggering $320 million in its largest offering to date. The demand for the sale was so high that it disrupted the entire Ethereum network activity while causing transaction fees to rise once again. ApeCoin (APE) crypto holders rushed to buy the rights of 55,000 parcels of...
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Ethereum (ETH) left its short-term investors fairly dissatisfied after failing to uphold the marks of its Point of Control (POC, red) at $3,000. The ripples of the broader selling sentiment pulled the alt to its $2,700 baseline. With price retesting its 15-month trendline support, ETH would likely see itself sailing toward the $2,900-mark before any trend-altering move. At press time,...
The sustained selling in Ethereum(ETH) price has knocked out several horizontal levels and DMAs. The altcoin recently breached the $2800 suggesting the sellers are prepared for another leg down. Moreover, the sellers could extend the correction rally to $2500 under the descending trendline influence.
Yesterday was not a remarkable day for the owners of the native token for the “Ethereum Killer”. The team announced that Solana suffered a major outage which led to over a seven-hour downtime on its Network. According to the team, the downtime was caused by an “enormous amount of inbound transactions” from NFT minting bots. Standing at $96 before the downtime, the network’ s native token...
On Sunday (May 1), Yuga Labs talked about the insane demand for its Otherdeed NFTs (which are like “title deeds” for land plots in the Otherside metaverse) and how this impacted the sale process on April 30.