As Bitcoin and other altcoins continue to rise and consolidate, some cryptocurrency projects are gaining attention. In this article, we will convey the altcoins and analyzes that some analysts expect to rise. Here are the details…
Lido V2 development observed for altcoin LDO
Token Unlocks tweeted earlier today that Lido DAO (LDO) has recently launched Lido V2. According to the post, this upgrade includes “game-changing” features like the Staking Router and additional withdrawal functions. The platform predicts that this upgrade will have a huge impact on the price of LDO. The upgrade has yet to have the predicted impact on the altcoin’s price. However, the data shows that LDO was trading at $1.93 after posting a 24-hour loss of 2.96 percent. This caused the coin to approach its 24-hour low of $1.89, while its daily high was $2.
Furthermore, the altcoin has also weakened against the 2 market leaders Bitcoin (BTC) and Ethereum (ETH) during this time. As a result, LDO lost 1.45% against BTC and 1.19% against ETH. Technically speaking, LDO’s price was trading above the 9-day and 20-day EMA lines at press time. Technical indicators suggested that the price of LDO will turn this resistance level into support in the next 24-48 hours. An important bullish flag was on the verge of being triggered because the 9-day EMA wanted to break above the 20-day EMA. The intersection of these two technical indicators will signal that the price of LDO has entered a short-term bullish cycle and will rise over the next few days.
Will “history repeat itself” in XRP?
In a recent tweet, renowned crypto analyst Ali Martinez pointed out the fascinating correlation between the rise in the price of XRP and the number of active XRP addresses. Could this pattern repeat itself once again, leading to a potential price rally for XRP? The on-chain data from crypto intelligence portal Santiment seems to indicate this. According to Martinez’s chart, on-chain activity surrounding the XRP token has witnessed a significant increase, surpassing 120,000 daily addresses since the middle of the previous week.
The last three instances $XRP price jumped were preceded by a spike in the number of active #XRP addresses.
On-chain data from @santimentfeed has recorded a spike in network activity over the past few days. Could history repeat itself? pic.twitter.com/XoJAFsDuvo
— Ali (@ali_charts) June 26, 2023
Although this figure lags behind the spikes seen in May and March, it is comparable to the figures observed at the beginning of the year. At that time, the XRP price had increased by over 25 percent. If this historical trend were valid for the current scenario, it would indicate a potential increase of up to $0.6 per XRP. Interestingly, this price level coincides with an incredibly strong resistance level.
Trade volume rises for SHIB
Analyst Lockridge Okoth drew attention to SHIB. The price of the Shiba Inu (SHIB) has dropped almost 3% in the last day, but this negative sentiment is limited to that. Other key elements in meme coin’s ecosystem are raising hope among investors as internal teams proactively release updates for community members. The Shibarium community is at the forefront, which could bode well for SHIB as experts predict a 20% increase. Shiba Inu (SHIB) has a sharp 15% rise in 24-hour trading volume, a metric that measures the market’s interest in SHIB tokens. This increase came despite the meme coin’s market cap dropping by almost 3%.
According to statistical data, a fall (or rise) in price in response to increased volume indicates that something fundamental has changed in the stock. Puppyscan, the renowned block explorer for Shibarium Beta and Shiba Inu, posted a 10% increase in total transaction count, climbing from 22,899,464 to 24,703,204 on Friday. This increase was in line with the total number of blocks and the average number of wallet addresses, reaching 1,444,198 and 16,969,821 respectively.
Solana prepares for its launch in China: How will the altcoin be affected?
According to a Foresight News report, the Solana Saga phone was reviewed in China early Monday. The flagship Web3 phone of the Ethereum-alternative protocol has two key features that set it apart from other smartphones: the seed vault and the dApp app store, and both worked smoothly once activated. The review marks an important milestone in the Solana ecosystem and could act as a bullish catalyst for SOL price.
The first review of Saga Mobile from China marks another breakthrough for the Web3 phone and its further adoption. The review shows that Web3 apps have few user-friendly functions and some user experience issues persist. The review considers Saga a good first attempt by Solana for the development of a Web3 phone. Solana climbed from $16.08 to $17.01 last week, up nearly 6%. The Ethereum-killer altcoin is poised to recover after posting losses in response to the Securities and Exchange Commission’s crackdown on cryptocurrencies.
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