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DOGE and RNDR are the top performers from the larger-cap alts now.
The inverse head and shoulders pattern forming "would make sense" if Bitcoin doesn't "break straight through" to $67,500, according to a crypto trader.
This is an excerpt from the inaugural edition of The Block’s The Funding newsletter sent to our loyal readers on May 3. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Sui launched on mainnet one year ago and since, its creator Mysten Labs, has forged partnerships with both Google and TikTok parent ByteDance. Shortly after launch Sui ranked as a top-10 blockchain in terms of TVL.
Check out which factors may propel a BTC price explosion in May (according to ChatGPT).
Check out the latest XRP price forecasts from prominent analysts.
- 05:17In the past 7 days, Ethereum network has a net inflow of $264 million, ranking firstGolden Finance reports, according to Artemis data, the Ethereum network had a net inflow of $264 million in the past 7 days, ranking first. The Base network had a net inflow of $127.4 million, ranking second. Solana ($25.2 million) ranked third.
- 04:47Greeks.live: The bullish strength in the Bitcoin market has significantly increased, with a short-term target price pointing to $105,000Analyst Adam from Greeks.live posted on the X platform, stating that 22,000 BTC options have expired with a Put Call Ratio of 0.95 and a maximum pain point of $96,000, representing a nominal value of $2.19 billion. In addition, 182,000 ETH options have expired with a Put Call Ratio of 0.36 and a maximum pain point of $3,250 USD; this represents a nominal value of $610 million. The price of Bitcoin has returned above $100k USD which sweeps away the sluggish market sentiment over the weekend but altcoins are generally underperforming. As for the options market, short-term implied volatility (IV) has risen and bullish forces in the market have significantly strengthened; short-term target prices are pointing towards $105k USD. Next week Trump will officially take office as President of United States and markets are closely watching his policies related to cryptocurrencies. On macroeconomic conditions: US stocks have recently warmed up while it is expected that Federal Reserve will maintain interest rates unchanged at its meeting at end-of-month. Analysts suggest paying attention to policy changes by new government and ETF fund flows - moderate allocation to short-term options for tactical trading could be considered.
- 04:43The total open positions of XRP futures contracts across the entire network have broken through 8 billion US dollars, continuing to reach new highsCoinglass data shows that the total open interest in XRP futures contracts has broken through $8 billion, setting a new record. The current open interest for XRP futures contracts is 24.2 billion XRP, valued at $80.5 billion, with a 24-hour increase of 9.71%. Among them, the cryptocurrency exchange Bitget's open interest in XRP contracts is 591 million XRP, worth approximately $1.963 billion, ranking first.