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According to CoinGecko data, the AI token market cap stands at $27.7 billion — an increase of over 10% in the past 24 hours.

The post FTM Price Needs Quick Reversal To Hit $1 This May appeared first on Coinpedia Fintech News

Following the bearish reversal from the $1.15 mark, the FTM price drops under the $1 psychological mark. However, despite the increased market volatility, the Fantom token’s price sustains dominance at the crucial support zone of $0.65.

With the broader market recovery, the altcoins are experiencing a surge in trading volume. Will this turning around pump the Fantom price above $1? Find out more in our FTM price prediction, which projects a sprint to $10 in 2024. 

FTM Price Performance

With a 26% drop in the last 30 days, the FTM price continues a sideways trend over the $0.65 support zone. The lower price rejection is evident in the Fantom price trend, which has led to a streak of Doji candles. 

TradingView

Further, the lower price rejection takes cushion from the 50W EMA as it rises after the recent golden crossover. With the sideways shift, the weekly RSI line takes a similar shift above the halfway line. 

Currently, the FTM price trades at $0.7272 with an intraday growth of 1.35%, following the 8.52% jump last night. Further, the daily chart shows a double bottom reversal in the daily chart, increasing the uptrend chances. 

Will FTM Price Surpass $1.50?

In the weekly chart, the streak of Doji candle reflect a high likelihood of a bullish reversal, following the massive drop in April. Further, the 1D chart projects a double bottom reversal increasing the uptrend possibility. In case the uptrend manages to surpass the 23.60% Fibonacci level at $0.90, the Fantom price could reclaim the $1 mark.

Optimistically, the uptrend can reach the $1.73 mark or the 50% Fibonacci level.

The post Crypto Giants FTX and Alameda Research in $97M Sell-Off Frenzy: What’s Next for Investors? appeared first on Coinpedia Fintech News

Two bankrupt crypto firms FTX and Alameda Research have been actively liquidating their altcoin holdings as part of a debt repayment strategy. According to reports, wallets associated with FTX and Alameda Research have transferred a combined total of $97.35 million in assets for liquidation purposes over the past month.

FTX is selling its Solana (SOL) holdings to pay back customers, which raises concerns about more sell-offs in the coming days and increased market volatility.

FTX and Alameda Liquidation

According to blockchain analytics from Arkham Intelligence, wallets linked to FTX and Alameda Research have been actively liquidating assets. FTX’s liquidated holdings include approximately $33.85 million worth of BOBA and $11.22 million in ETH, alongside its dominant control over 78% of the FTT token supply.

Tagged FTX and Alameda wallets have sent a combined $97.35M to be liquidated in the past month.

FTX still holds $33.85M in BOBA and $11.22M in ETH – in addition to over 78% of the FTT supply.

Alameda’s main holdings are $140M of WLD, $102M of BIT, $93M of BTC and $48M of STG.… pic.twitter.com/bUpuJm9FSQ

— Arkham (@ArkhamIntel) May 9, 2024

On the other hand, Alameda Research a sister firm of FTX, holds substantial positions in various assets, including $140 million worth of WLD, $102 million in BIT, $93 million of BTC, and $48 million of STG. The scale of these holdings suggests the potential for further divestment by both companies.

Customer Compensation Plan

As part of the bankruptcy proceedings, FTX creditors whose claims amount to $50,000 or less are expected to receive approximately 118% of their allowed claim. The repayment plan indicates that around 98% of creditors will be compensated accordingly. 

FTX creditors will get OVER 100% of their money back, but @LouisOrigny (co-founder of @ftxcreditor_com) & I discuss why this is a deceptive statement & break down the pros/cons of FTX’s new plan. A LOT of customers are getting screwed (feat. @arush). pic.twitter.com/cvOekwUpQL

— Tiffany Fong (@TiffanyFong_) May 10, 2024

Meanwhile, other claimants will receive their 100% claims along with substantial interest to compensate for investment time value.

On the other hand, many creditors are concerned about the repayment plan, preferring crypto settlements due to asset valuation during the bear market in late 2022.

What’s Next?

FTX and Alameda Research have attracted attention due to recent asset liquidations, sparking concerns among creditors and investors in the crypto community. Meanwhile, FTX’s response to demands for crypto-based repayments is pending, adding to scrutiny over how crypto assets are handled in bankruptcy proceedings.

The post Bitcoin Price Consolidates for More than 70 Days: Here is When We Can Expect a Bullish Breakout! appeared first on Coinpedia Fintech News

The Bitcoin price continued to decline even after halving and erasing the maximum gains incurred after the approval of the Bitcoin ETF. Moreover, it is also one of the worst performances of Bitcoin after halving since its inception. In such trading scenarios, a minor rebound may increase bullish sentiments among market participants. 

Therefore, with the latest price action, the BTC price is now expected to rise beyond $65,000, but the bearish possibility may continue to prevail. 

Bitcoin bounces from the lows below $57,000 and after maintaining an ascending consolidation, it leaps beyond $63,000 amid bullish news. Therefore, the traders are now waiting for a price appreciation that may lift the levels towards local highs. In the middle of the bullish scenario, there is a small possibility of a bearish continuation as the BTC price keeps up its trade within a falling wedge.

As mentioned above, the Bitcoin price is trading within a falling wedge, and now that market participants expect a breakout from the upper resistance, a bearish rejection may make its way out. It is worth noting that the Gaussian Channel has turned bearish as the price rises to test the upper resistance of the wedge. Besides, the RSI continues to trade within the lower ranges, indicating less strength for the rally as the bulls remain less active. 

Hence, the Bitcoin price may continue to trade within the range of $62,900 and $63,400 for some more time, but beyond that, another bearish spell appears to be imminent. Having said that, the bearish scenario for the token continues to prevail, with bearish targets below $60,000. Here is where the BTC price may find its interim lows, which could attract fresh bullish action and activity. 

Fantasy.top — We are hiring Community Manager / AmbassadorsFantasy is a social trading card game that combines strategic play with the collection and trading of digital assets. Players build decks of their favorite crypto twitter characters to compete and earn rewards during tournaments.fantasy.topCommunity Manager

Job Description: We are looking for an enthusiastic and skilled Social Media Moderator to operate and manage our English community on Discord, Telegram and other social media. This role is perfect for someone who is passionate about gaming, cryptocurrency and blockchain and enjoys engaging with DeFi communities

Key Responsibilities:

• Actively manage and cultivate our community on social media.
• Maintaining open communication with the community, quickly responding to questions.
• Promptly answer questions from community members and initiate topics to stimulate discussions.
• Create and sustain engaging topics to enhance community activity and member interaction.
• Monitor community dynamics, maintain order within the community, and ensure a healthy and harmonious discussion environment.
• Regularly communicate with the fantasy team to provide feedback, suggestions, and insights from the community.

Requirements:

• Good English proficiency.
• A strong interest and passion for the field of cryptocurrencies and blockchain.
• Basic knowledge and experience in DeFi.
• Experience in managing Discord, Telegram communities and familiarity with community operation strategies.
• Excellent communication skills in English, with the ability to clearly articulate and effectively guide community discussions.
• Understanding of our game philosophy and a full understanding of gameplay

We are also looking for ambassadors, marketing managers and devs

Apply — Text us on Telegram@l710eth@l710eth@l710ethhttps://t.me/l710eth

Submission form: Vacancy, work experience, social media links

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Fantasy.top — We are hiring Community Manager / Ambassadors was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.

Its gonna be the biggest FREE airdrop

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Magic Eden has surpassed Blur to become the top NFT marketplace in terms of trading volume, marking a significant shift in the competitive landscape of digital asset exchanges. This development comes as Blur, previously a dominant player in the Ethereum-based NFT market, sees a decline in its market share.

According to DappRadar’s Dapp Industry Report for April 2024, Magic Eden’s trading volume exceeded Blur’s by $108 million. This surge is attributed to Magic Eden’s strategic expansion into Bitcoin Ordinals and its robust rewards programs, attracting traders and collectors alike. The platform’s integration of Bitcoin Ordinals trading, which now constitutes 70% of its total volume, emphasizes the growing popularity of this new asset class within the NFT space.

Top 5 NFT marketplaces (DappRadar)

Magic Eden’s rise is also supported by its comprehensive platform features, which include low transaction fees and a user-friendly interface that supports multiple blockchains. Combined with strategic partnerships and continuous platform enhancements, these features have enabled Magic Eden to capture and sustain a significant portion of the market share.

Broader NFT market declines as Inscriptions rise.

The report also highlighted a shift in conditions in the broader NFT market. Total trading volume decreased to $1.35 billion in April, a 13% drop from the previous month, while sales have increased by 20%. This trend can be attributed to several factors, including the rising popularity of Runestone, a Bitcoin Ordinals inscription that has surpassed Bored Ape Yacht Club as the NFT collection with the highest trading volume.

Moreover, Bitcoin collections have seen a 32% increase in trading volume, reaching $675 million, positioning Bitcoin as the blockchain with the highest trading volume, followed by Ethereum. Additionally, the Blast chain has gained traction among traders seeking to farm airdrop points via Blur’s new deployment.

NFT trading volume in April and sales count (DappRadar)

The post Ordinals sales elevate Magic Eden to top NFT marketplace surpassing Blur by $108 million appeared first on CryptoSlate.