Will This New Bitcoin Mining Token Surge After Raising $1.7m?
The post Will This New Bitcoin Mining Token Surge After Raising $1.7m? appeared on BitcoinEthereumNews.com. The cryptocurrency market has seen a decline in recent days, with most major coins posting significant losses. XRP (XRP) has fallen to the $0.48 level, while Ethereum (ETH) has dropped to $1,554, reflecting the broader market sentiment of increased uncertainty. Despite the bleak short-term outlook for established coins, a new player called Bitcoin Minetrix (BTCMTX) has emerged, raising over $1.7 million during its presale and turning heads in the market. Bearish Momentum Builds as XRP Posts Three Consecutive Red Closes XRP has posted two bearish daily closes in a row and looks likely to post a third today, signalling a potential continuation of its downward momentum. After peaking at $0.549 in September, XRP has slid 12% in the weeks that followed, with the bears now firmly in control. The decline is mainly due to speculative investors taking profits after a favourable court ruling for Ripple Labs against the SEC. Nonetheless, some large XRP holders appear to be taking advantage of the lower prices, with one whale moving 409 million tokens from the Bitvavo exchange to a new wallet address on Tuesday. At the time, this transfer represented over $200 million worth of XRP. This has been viewed as a positive sign, with bulls interpreting it as high-net-worth investors accumulating XRP while price is low. While this sentiment boost hasn’t immediately impacted XRP’s price, it does introduce an element of potential upside – making the token one to watch in the days ahead. Ethereum Price Struggles to Break Key Resistance Despite Whale Accumulation Like XRP, Ethereum has also struggled to gain positive momentum over the past few weeks. ETH’s price has failed to break through key resistance levels around the 50-day and 200-day Exponential Moving Averages (EMAs) on the daily time frame, trading between $1,520 and $1,600 for nearly two weeks.…
The post Will This New Bitcoin Mining Token Surge After Raising $1.7m? appeared on BitcoinEthereumNews.com.
The cryptocurrency market has seen a decline in recent days, with most major coins posting significant losses. XRP (XRP) has fallen to the $0.48 level, while Ethereum (ETH) has dropped to $1,554, reflecting the broader market sentiment of increased uncertainty. Despite the bleak short-term outlook for established coins, a new player called Bitcoin Minetrix (BTCMTX) has emerged, raising over $1.7 million during its presale and turning heads in the market. Bearish Momentum Builds as XRP Posts Three Consecutive Red Closes XRP has posted two bearish daily closes in a row and looks likely to post a third today, signalling a potential continuation of its downward momentum. After peaking at $0.549 in September, XRP has slid 12% in the weeks that followed, with the bears now firmly in control. The decline is mainly due to speculative investors taking profits after a favourable court ruling for Ripple Labs against the SEC. Nonetheless, some large XRP holders appear to be taking advantage of the lower prices, with one whale moving 409 million tokens from the Bitvavo exchange to a new wallet address on Tuesday. At the time, this transfer represented over $200 million worth of XRP. This has been viewed as a positive sign, with bulls interpreting it as high-net-worth investors accumulating XRP while price is low. While this sentiment boost hasn’t immediately impacted XRP’s price, it does introduce an element of potential upside – making the token one to watch in the days ahead. Ethereum Price Struggles to Break Key Resistance Despite Whale Accumulation Like XRP, Ethereum has also struggled to gain positive momentum over the past few weeks. ETH’s price has failed to break through key resistance levels around the 50-day and 200-day Exponential Moving Averages (EMAs) on the daily time frame, trading between $1,520 and $1,600 for nearly two weeks.…
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