ETFSwap (ETFS) is a tokenization platform for exchange-traded funds (ETFs). The platform allows crypto traders and institutional investors to access and trade the institutional assets in a decentralized framework. The platform’s nativity to the robustly secure and highly scalable Ethereum blockchain imbued it with characteristics such as 24/7 market coverage and access which helps traders and traders manage their trades efficiently as they can open and close positions swiftly and with ease.

ETFSwap’s (ETFS) Ethereum foundation also confers the best security on the platform so it can adequately safeguard users’ portfolios. Additionally, ETFSwap (ETFS) built on the layers of security it inherited from the Ethereum blockchain, enacting several protective measures to prevent hacking attempts and protect users’ hard-earned profits. , a cybersecurity auditing firm, recently conducted a thorough audit of the ETFSwap (ETFS) platform and found it did not have any significant security vulnerabilities.

ETFSwap (ETFS) features an advanced market-making algorithm, which will make sure that all buy and sell orders are taken at the best possible prices. The algorithm tightens spreads and minimizes slippage, enabling users to maintain optimal liquidity always.

Meanwhile, ETFSwap (ETFS) ordered for its team and leadership in a show of transparency. The project’s smart contract has since been displayed prominently on its official website, allowing all visitors to verify its credentials and reassure investors that their investments are in safe hands.

A widely followed crypto strategist and trader believes that steep rallies are in store for one Solana (SOL) challenger.

Pseudonymous analyst The Crypto Dog tells his 829,200 followers on the social media platform X that layer-1 chain Sui (SUI) may be poised to witness huge bursts to the upside after printing a new all-time high (ATH).

With blue skies ahead for SUI, the trader thinks it is within the realm of possibility for the altcoin to go vertical.

“We gonna see a proper parabolic ATH break run?” 

At time of writing, SUI is worth $2.32 slightly below its new all-time high recorded just hours ago.

Turning to the memecoin Pepe (PEPE), the trader thinks it is gearing up to take out its diagonal resistance and spark a new leg up.

“PEPE wants to start something.” 

At time of writing, PEPE is trading at $0.00000962, still below the analyst’s diagonal resistance.

Looking at fellow memecoin dogwifhat (WIF), the trader thinks the altcoin needs to overcome one downward resistance line to ignite rallies to fresh all-time highs.

“ATH run?”

 At time of writing, WIF is trading for $2.63, hovering close to the trader’s diagonal resistance.

As for Bitcoin, the trader says BTC is very close to witnessing a proper bull market.

“We break $63,500 it’s gonna be no items long only final destination.” 

At time of writing, Bitcoin is worth $62,682.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: DALLE3

After recently rising by more than 20% and gaining the interest of the cryptocurrency market, Tron has been on an amazing run. Tron is one of the best-performing digital assets. Its price performance is particularly strong, recalling memories of Solana’s early days and the ferocious meme coin rallies on Ethereum and other networks.  

Tron is now a strong competitor in the race to unseat Ethereum as the second-largest cryptocurrency by market capitalization, thanks to a notable uptick in profitability and user adoption on its network. Tron’s low transaction fees are a major factor in its growth, drawing interest from both developers and users. 

With the bonus of avoiding the infamously high gas fees that have beset Ethereum more recently, this cost efficiency is reminiscent of Ethereum’s early days. Like Ethereum in its early years, Tron’s ecosystem is also reaping the benefits of a boom in decentralized applications and DeFi platforms. 

Nevertheless, Tron appears to be developing more quickly, supported by its capacity to manage a large number of transactions at low costs. Because of this, network profitability has skyrocketed and is now higher than Ethereum, the longtime leader in decentralized networks. Tron’s growth has many in the cryptocurrency community wondering if it will ever overtake Ethereum in terms of market capitalization and user base. 

Solana breaks through

Breaking through the $160 resistance level, which had been holding the cryptocurrency in check for some time, has been a major move for Solana. Significantly higher trading volume following this discovery indicates strong investor interest and the possibility of further price growth. 

For Solana, the $160 mark represented a significant resistance level, and breaking through it indicates that the bulls are gathering steam. The rise in volume lends support to this action by showing that the rally is sustained by significant market activity, as opposed to a brief spike.

Many traders and investors are hoping that Solana will continue its upward trend, and such a volume-driven move frequently lays a strong foundation for it. But even with this positive development, it is important to understand that a long-term rally might not be able to be sustained by this breakthrough alone. Since April 2024, Solana has been trading in a sideways channel. 

Although breaking above $160 is encouraging, it does not yet indicate a clear breakout of this channel. To really leave the sideways trading range and start a more persistent bullish trend, the cryptocurrency will need to keep up its upward momentum and overcome more resistance levels.  

Shiba Inu’s bearish state

The 50-day Exponential Moving Average has proven to be a formidable obstacle for Shiba Inu in its latest attempt to rally. This setback is a warning sign that could indicate a possible retreat in the near future. With the asset trading below its 50 100 and 200-day EMAs — all important indicators that traders use to assess the overall trend — overall market conditions for SHIB remain extremely bearish. 

SHIB’s inability to break above the 50 EMA, which frequently acts as a dynamic resistance level during downtrends, indicates that selling pressure is still in control. Instead of signaling the start of a longer-term rising trend, this rejection at the 50 EMA could mean that the recent bullish momentum was only a transient relief rally. 

Given that SHIB is now below every major moving average (EMA), more losses may be imminent. If the bearish attitude persist, SHIB may find itself retreating to lower support levels and possibly hitting recent lows once again. The future is still not looking good for SHIB. 

The difficulties SHIB has in reversing its downward trend are highlighted by its inability to break above the 50 EMA. A failure to breach this crucial resistance level could result in more selling pressure and additional price declines, so traders and investors should exercise caution.

A widely followed crypto believes that Solana (SOL) can reasonably climb by more than 850% before the current cycle expires.

Pseudonymous analyst Kaleo tells his 643,700 followers on the social media platform X that Solana appears to be mirroring the price action of Ethereum in late 2020 just before ETH skyrocketed to its all-time high (ATH) of $4,878.

“If Solana manages similar growth from the previous ATH that ETH did last cycle during this bull market, $1,000 SOL is a reasonable target.”

But Kaleo notes that Solana can climb even higher if it truly follows ETH’s 2020 script. In August 2020, ETH traded at around $308 before witnessing a parabolic rally to its all-time high in over a year.

“Let’s just assume [Solana is] where ETH was in August of 2020 then and we get a 1,400% pump to $2,000+ from here.”

At time of writing, Solana is trading for $146.74, up slightly in the last 24 hours.

The analyst is also keeping an eye on the price action of fellow layer-1 protocol Avalanche (AVAX). According to the crypto trader, AVAX’s current price action is reminiscent of its movements during the first half of 2021.

Back then, AVAX witnessed a deep drawdown prior to a vertical rally that sent the altcoin to record highs of $144.96.

“The current drawdown reminds me of what we saw in 2021 – pump to start the year, bleed off, send to $100+.” 

At time of writing, AVAX is worth $21.43.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney

Solana (SOL) was recently in the spotlight after the US Securities and Exchange Commission (SEC) adjusted its complaint regarding the classification of SOL. The network also ranked as the second largest revenue-generating crypto project on Monday. Following this, some market watchers shared their predictions regarding the token’s recent performance. Some highlighted that a recent rejection of a key level could plunge the prince to $150 before it’s ready for a massive rally.

Analysts Set New ATH Targets For Solana

On Tuesday, crypto trader Yoddha forecasted his price target for Solana this cycle based on its performance over the years. According to his chart, SOL saw a 96% drop from its all-time high (ATH) during the last bearish rally. After the retrace, the token saw a 343-day accumulation period.

Related Reading: Render Continues To Flash Red In All Timeframes – What’s Going On?

This period was followed by a 600% surge to the yearly high above $200 seen in March. According to Yhodda, SOL is in an accumulation zone again, moving within a falling wedge pattern. The chart suggests to the trader that the token’s price could skyrocket over 455% in the coming months, hitting the $1,000 mark this bullish run.

Meanwhile, analyst Inmortal Crypto highlighted that SOL rejected the weekly opening (WO) price of $190, which traded above last week’s WO. To the trader, if SOL’s price doesn’t hold the $180 support level, it could potentially drop to retest the monthly opening (MO) of $147 before resuming its climb.

Poseidon, another pseudonym analyst, shared a similar opinion. He stated that investors “will have a chance to buy SOL below $150 again” before it rallies to $500.

According to Crypto Jelle, SOL broke out of “the re-accumulation structure” this month. Per the chart, a similar structure preceded the price expansion that led to Solana’s ATH.

Jelle considers that Solana “looks ripe to push higher” and will enter a “mania-like stage” once it gets moving. He also suggested that SOL will be scaling out aggressively” after it breaks above its ATH.

Nonetheless, he set the token’s final target to $600, disagreeing with those expecting a new ATH above $1,000. “People expecting $1000+ are in for a rude awakening I’m afraid,” said the analyst.

SOL Price Stays Still Despite Bullish News

On Tuesday, Solana and its community received bullish news after the US SEC amended its complaint in the lawsuit against crypto exchange Binance.

The regulator filed an amendment regarding its “Third Party Crypto Asset Securities” complaint, stating that there is no imperative need for the court to rule on “the sufficiency of the allegations regarding those tokens at this juncture.”

Related Reading

Additionally, Lookonchain revealed that Solana was the second-largest revenue-generating crypto project on July 29. The network generated $940,000 in revenue in the previous 24 hours, surpassing Ethereum’s $844,300 revenue.

Despite the news, SOL’s price didn’t register any notable performance, hovering between the $177 and $183 price range. As of this writing, Solana is trading at $182, a 0.3% price drop from yesterday and a mild 2.5% surge in the last week.

Featured Image from Unsplash.com, Chart from TradingView.com

A closely followed analyst thinks Solana (SOL) may be repeating a pattern witnessed three years ago before the smart contract platform surged to its all-time high.

Pseudonymous analyst Inmortal tells his 214,700 followers on the social media platform X that Solana appears to be printing a series of bullish higher-low setups on the two-day chart after briefly soaring above $200 earlier this year.

According to the analyst, SOL flashed the same pattern in Q2 to Q3 of 2021, just before Solana ignited a parabolic surge from $24 to its all-time high of $259, an over 979% increase.

“Time is a flat circle.

SOL.” 

Looking at the trader’s chart, he seems to predict that SOL will rally toward a fresh record-high at around $500. At time of writing, SOL is worth $159.

The analyst is also bullish on gaming altcoin Beam (BEAM). The analyst shares a chart suggesting that BEAM will surge above $0.03 after recovering $0.016 as support.

“Shopping day.

BEAM.” 

At time of writing, BEAM Is trading at $0.0175.

Turning to the native asset of the real world assets (RWA) protocol TokenFi (TOKEN), the analyst thinks that the altcoin is currently flashing a bullish setup after reclaiming support at $0.08.

“If they approve ETH ETF this week, tokenization/RWA plays should fly, in my opinion. 

TOKEN is one of my favorites.

> Price back above key level
> Deviation setup
> Leading the sector.” 

At time of writing, TOKEN is worth $0.0816, up over 13% on the day.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney

Solana prices have been on a tear lately, rallying over 30% in under seven days as the broader cryptocurrency market pushes higher.

The SOL token, which serves as the native digital asset of the high-performance Solana blockchain network, climbed to $188.37 late last night, CoinMarketCap figures show.

At this point, the cryptocurrency had risen roughly 33% after approaching $140.00 on May 14 and was trading at its highest value since early April, additional CoinMarketCap data reveals.

Since then, the SOL token has pulled back somewhat, but has still managed to retain most of the gains it generated over the last week, and was trading close to $178.00 at the time of this writing.

Over the last week, the value of the overall cryptocurrency market has risen from roughly $2.25 trillion to approximately $2.6 trillion at the time of report, an increase of more than 15%.

Robust Network Activity

When explaining the latest gains in SOL, analysts polled for this article repeatedly pointed to strong activity on the Solana network.

“There is a lot going on in the Solana ecosystem that could have contributed to the recent gains,” said Brett Sifling, an investment advisor for Gerber Kawasaki Wealth & Investment Management.

“Besides the general optimism for crypto and risk-on assets recently, Solana has also experienced a DeFi and meme-coin frenzy that has captivated the attention of traders and gamblers,” he stated via emailed comments.

“Very similar to the immense NFT growth that Solana fueled a few years ago, it seems that speculators have turned their attention to these meme-coins in an effort to get-rich-quick,” said Sifling.

“Since you need to buy Solana’s token SOL in order to buy these meme-coins, it seems that the token has benefited from the continued demand,” he claimed.

Joe Lee, founder and CEO of DefiDive, also weighed in, focusing on network liquidity and its subsequent impact on the value of SOL.

“Earlier this year Solana’s price peaked at $202.37 on March 19th, driven by a significant influx of liquidity from traders seeking yield in the memecoin markets,” he noted.

“DefiDive’s DeFi market data showed liquidity moving from Solana’s network to Base’s chain due to a significant drop in transaction fees following Ethereum’s Dencun upgrade,” Lee observed.

“Simply put, the upgrade, which rolled out on March 13th, made the Base network the lowest-cost place to transact,” he noted.

“Consequently, a large volume of memecoin trading shifted directly to the Base network triggering a selloff of Solana. This was observed and tracked using TVL (Total Value Locked) data.”

However, Lee emphasized that market participants have been flocking back to the Solana platform more recently.

“Confidence in Solana has returned over the past two weeks following a period of uncertainty about whether Base would replace Solana in liquidity,” he stated.

“According to our data, Solana currently maintains $6.725 billion in TVL compared to Base’s $1.757 billion. Solana is currently gaining liquidity much faster than its competing layer 1 and layer 2 chains.”

Lee followed up by emphasizing a key staking announcement that trading platform Robinhood made earlier this month.

“In other macroeconomic indicators, Solana made headlines this week as Robinhood launched its first crypto staking product for European customers, featuring none other than the SOL token,” he stated.

Bullish Price Outlook

Going forward, Lee offered a bullish prediction for SOL prices.

“With strong underlying economics, our analysts have set a target for Solana’s price to reach $210 within the next 30 days,” he stated.

Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, also offered an optimistic take on the digital currency’s future prospects.

Describing SOL as “a favorite of many crypto investors,” he emphasized that the platform is user friendly and provides very fast transaction processing.

“This results in While Bitcoin is about 6% off its all-time high, Solana is still about 30% off its all-time high of almost $260,” said DiPasquale.

“We believe it could climb further, but will find resistance at around the $200 line, which it wasn’t able to convincingly cross earlier this year.”

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether, EOS and SOL.

Disclaimer: The data offered doesn’t represent monetary, funding, buying and selling, or different sorts of recommendation and is solely the opinion of the author.

World inventory market indices have been in a freefall over the previous two weeks. Bitcoin has additionally seen extreme losses over the identical time interval, measuring near a 35% drop. Given this backdrop, the altcoin market has additionally quickly shed worth. Ethereum Basic noticed a near-term bullish market construction break. But, this might seemingly not be sufficient to reverse the robust downtrend for the altcoin.

ETC- 4-Hour Chart

On the H4 chart, it may be seen that the value has set a sequence of decrease highs since late Could. What will not be proven on the charts is that this downtrend stretches again to early April.

On the time of writing, there have been two zones of nonetheless resistance for ETC. The higher one was $18, and the decrease one at $14.8, each demarcated by pink packing containers. Furthermore, the 38.2% Fibonacci retracement stage added confluence to the $18 resistance zone.

ETC broke previous the $15.3 stage up to now couple of days of buying and selling. This flipped the near-term market construction to bullish. The $13.89 assist additionally seemed to have been defended.

But, the upper timeframe bias stays strongly bearish. Due to this fact, a shorting alternative may quickly current itself.

ETC- 1 Hour Chart

The H1 chart highlighted the bullish construction flip, however the $16.15 stage has not but been overwhelmed. In actual fact, the sweep of this stage the day gone by earlier than a transfer decrease prompt that the pattern was firmly bearish.

Therefore, The complete area from $14.6 to $16.1 can be utilized to enter a brief place. Bearish divergence on a timeframe increased than the H1 may supply a extra exact entry.

The RSI on the hourly was preventing with the impartial 50 mark. Even when the hourly RSI climbs increased, it could not counsel a pattern reversal. The OBV noticed a spike increased on the day gone by of buying and selling, whereas the CMF climbed to -0.04.

Taken collectively, it prompt the presence of some shopping for strain. But, it wasn’t overwhelming strain, and may not imply a pattern reversal to the bullish aspect.

Conclusion

The upper timeframe bias stays bearish, regardless of the bullish break on the decrease timeframes. The $16.15 stage stays unbroken, and the $14.8 can be a zone of resistance.

Due to this fact, a brief place will be scaled into between the $14.8 and $16.1 ranges, with a stop-loss simply above $16.3. To the south, the 23.6% Fibonacci extension stage at $10.13 might be a bearish goal.

The chief in information and data on cryptocurrency, digital property and the way forward for cash, CoinDesk is a media outlet that strives for the best journalistic requirements and abides by a strict set of editorial insurance policies. CoinDesk is an unbiased working subsidiary of Digital Forex Group, which invests in cryptocurrencies and blockchain startups. As a part of their compensation, sure CoinDesk workers, together with editorial workers, might obtain publicity to DCG fairness within the type of inventory appreciation rights, which vest over a multi-year interval. CoinDesk journalists will not be allowed to buy inventory outright in DCG.