Chiliz [CHZ] finds favor with ETH whales but is it enough for a bullish pivot?

The largest Bitcoin transaction turns out to be an NFT. Bitcoin bulls cool off but golden cross might heat things up again. While everyone and their cat were focused on whether Bitcoin would kick off February with renewed upside or retracement, something interesting happened. The Bitcoin network registered the largest block in the last four months.

SUSHI Vesting Merkle Tree Clawback passed implementation with over 99% support. A few metrics and market indicators were bullish, but SUSHI’s daily chart was red. On 6 February, SushiSwap [SUSHI] announced that its proposal for Sushi Vesting Merkle Tree Clawback got approved for implementation. Realistic or not, here’s SUSHI’s...

Rising gas prices could affect Ethereum. NFT trades decline, but traders show optimism. As the Ethereum [ETH] network continues to grow, new data has revealed an alarming trend. Gas fees on the Ethereum network have been steadily increasing since the network’s recent merge. This rise in gas prices might hinder the adoption of Ethereum, as it could make the network inaccessible to users who cannot afford the fees.

The SOPR ratio positioned closer to the market bottom as the TRIX signaled an incoming uptrend. BTC holders adhered to self-custody despite January’s profit-taking offer. Bitcoin [BTC] showed immense prowess after the U.S. Federal Reserve Board raised interest rates by 25 basis points. Initially, the king coin led the crypto market decline, but this only lasted a few hours as bulls took back control.

The decline in CMF and Aroon shows that the APT rally was on the verge of an end. Sentiment trended negative, but whales sustained buying momentum. The incredible performance by Aptos [APT] since the start of 2023 could eventually come to a halt, as per a 6 February Santiment insight. For holders of the Layer-one (L1) token, the few days in 2023 would be that would last in their memory. According to CoinMarketCap, APT’s 30-day performance was a monumental 302.31% increase.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The market structure of Dogecoin was bullish. The lower timeframe analysis showed $0.085-$0.09 to be a support zone. Bitcoin [BTC] continued to trade beneath the $23k mark. While...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The market structure of Litecoin was bullish. The reaction at $95 and the attempts to push above $100 meant bulls have the upper hand. Bitcoin [BTC] saw a...

Ethereum network’s validator numbers remained steady despite bear market. Decreased whale interest, network growth, velocity, and trader sentiment raised concerns. Validators on Ethereum [ETH] could play a significant role in the network’s future. New data on 6 February suggested that the number of new validators added to the network remained constant in 2022, even during the bear market.

The Graph (GRT) has surged over 100% in value in February so far. The token was overvalued at press time. Following a decline in value in 2022, The Graph [GRT] has recovered alongside the rest of the cryptocurrency market. The value, however, has been rising even more rapidly since the beginning of February 2023. So, to what ends might this be happening, and what might the future hold?

AGIX topped social volume among all assets in the seven days. The token direction might continue in an upturned despite being overbought. Blockchain-powered AI token SingularityNET [AGIX], on the premise of the ChatGPT adoption, increased 680% in the last 30 days. Yes, the surge in value may not be surprising as it’s not the first time that breakthroughs in other sectors impact tokens linked with them.

Ripple’s development head held the firm’s ground on the global reserve currency proposal. XRP’s momentum drifted towards the reds. A section of the Ripple [XRP] community has long hoped for approval for the token’s buyback proposal since 2021. But all that desire may now be a pipe dream as the project’s Chief Technology Officer (CTO) put a nail to the coffin.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Fantom had a bearish short-term momentum after posting strong gains throughout January. A pullback to $0.5 or deeper was possible. Fantom [FTM] saw a pullback of nearly 20%...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The lower timeframe market structure was bearish. The presence of the range lows and bullish breaker can see recovery toward the range highs. Bitcoin is likely to see...

TRON outperformed Ethereum in stablecoin dominance. The network’s growth is shown in TVL, whale interest, and price increase. The cryptocurrency world has seen tremendous growth in recent times, with several networks vying for dominance in different sectors. One area where TRON [TRX] has been making significant headway is in the stablecoin sector.

GMX moves to Arbitrum, threatening Avalanche. Decreasing sentiment, declining TVL & NFT trades for Avalanche. According to the latest data from Artemis, the majority of GMX‘s activity has shifted from Avalanche [AVAX] to Arbitrum. This shift has raised concerns about the potential impact on Avalanche, as GMX is currently the largest perp by market cap and outperforms many of its competitors in terms of Total Value Locked (TVL).

Lido highlighted improvements in many areas. LDO surged while network growth declined. Lido Finance’s [LDO] tweet on 6 February highlighted the impressive growth of MakerDAO [MKR] and Aave’s [AAVE] lending pools on its protocol. Over the last week, MakerDAO’s steCRV experienced a surge of 636%, while Aave’s Wrapped stETH [wstETH] increased by 140%.

ADA has seen a rally in large whale transactions in the past few days. Price assessment, however, revealed that a price reversal might be imminent. Layer 1 coin Cardano [ADA] has seen a spike in large whale transactions in the past few days, data from Santiment revealed. Realistic or not,...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. AVAX recovered slightly above a key short-term downtrend line. The sentiment was positive, but AVAX faced a price rejection at press time. Avalanche’s [AVAX] recovery could be limited...

The BNB community voted to deploy Euler on the chain. Investors’ portfolio was doing pretty much better than last year’s hawkish state. On 8 February, Binance CEO Changpeng Zhao (CZ) shared a snapshot showing details of the Binance Coin [BNB] Chain’s proposed deployment of Euler. According to the shared link, the BNB Chain foundation had agreed to deploy Euler on the chain.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The higher timeframe market structure remained bullish. Demand is likely to be seen on a dip to $22.7. Solana traded within a range formation. Longer-term investors have reasons...