Reasons why ApeCoin [APE] holders can be bullish in the near term

Aptos’ Total Value Locked (TVL) reached a new ATH of over $62.5 million. However, the market indicators showed reasons why investors should be worried. Aptos [APT] remained in the headlines for the entire week because of its massive price pump, which outperformed the rest. The gains also helped Aptos reach another milestone.

Cardano was back in the top 10 tokens by trading volume among the 4000 biggest BSC whales. ADA’s price rallied by over 50% in the last 30 days. Cardano foundation recently revealed January month’s stats of Cardano [ADA]. As per the official tweet, there has been an increase in transactions using smart contracts and metadata.

Dogecoin recently saw an increase in whale transactions. The dog-themed token has also recently seen a spike in its daily active addresses. Whale activity has increased for Dogecoin [DOGE], which is also the ninth-largest cryptocurrency by market capitalization, according to CoinMarketCap. Whales’ action boosted the token price and impacted some other indicators as well.

SHIB’s last year’s performance did not lead to massive dumps by institutional investors and whales. The token had the potential to remain significant in the long term based on the technical outlook. Shiba Inu’s [SHIB] 2021 disruption of the crypto market was one reason it amassed a lot...

TRON will soon announce partnership with BitTorrent. TRX’s price increased over the last day and the metrics, along with market indicators, looked bullish. TRON [TRX] reached a new milestone that reflected its increased adoption across the globe. TRONSCAN revealed that TRON’s total accounts surpassed the 140 million mark – they stood at 140,010,268 at press time.

UNI remained one of the top choices of the whales. A few of the metrics and market indicators suggested a further downtrend in the coming days. On 31 January, Uniswap [UNI] released details related to its new Permit2 smart contract, which is a token approval contract that can share and manage token approvals of different smart contracts. According to the latest tweet, Permit2 smart contract allows for seamless token approvals across web3 dApps, making things easier.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. LINK faced a price rejection at the selling pressure zone at $7.500. Holders still enjoyed profits. Chainlink’s [LINK] uptrend momentum was facing a crucial short-term blockade. LINK dropped...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Binance Coin surged above resistance; retracement could be a buying opportunity. The market structure remained bullish. Binance Coin [BNB] beat the 12-hour bearish order block near $316 after...

AXS users can now access NFT loans and also earn staking rewards. Despite the development, Axie Infinity was struggling with improving adoption. On 2 February, Axie Infinity’s [AXS] engine, the Ronin network, confirmed that users of the Play-to-Earn project could access loans directly in their wallet. According to the announcement, the feature was made available after the network’s collaboration with MetaLend.

Aptos’ NFT ecosystem registered growth over the last few days. A new update is to be launched soon, but the metrics were not affected positively. After closing a comfortable week, Aptos’ [APT] price took the opposite route, going down considerably. According to CoinMarketCap, APT’s price was down by more than 6% in the last 24 hours, and at the time of writing, it was trading at $16.86 with a market capitalization of $2.7 billion.

2 February saw ETH hit $1,713 for the first time in four months. The inflow of ETH into exchanges exceeds the outflow signifying sell pressure. Ethereum [ETH] experienced a price increase before the close of the trading session on 2 February, bringing it to its highest level in more than four months. How did traders respond to it, and how might their responses impact the future price of ETH?

MUX protocol saw promising growth in trading volume and fees. The protocol’s native token MCB shot up by 6% at press time. MUX Protocol, a decentralized perpetuals exchange, made players in the DeFi arena sit up and take notice. Built on layer-2 scaling solution Arbitrum, MUX has seen considerable growth in key performance indicators (KPIs) over the past few weeks, as highlighted by a crypto analyst on 31 January.

Fantom [FTM] has surged 200% since its price rally began in January. Several metrics are suggesting a bull run except for the MVRV ratio. Fantom [FTM] is undoubtedly one of the coins in the market that saw a significant surge in January. When seen on a daily timeframe, it rallied by 200% from January 1 until the time of this writing.

CME Open Interest in Bitcoin grew, implying a decline in volatility. Miner revenue fell while selling pressure increased. According to a 31 January tweet by Arcane Research, Bitcoin’s [BTC] rally was slowing down. Despite this, institutional interest in Bitcoin continued to grow. One indicator of high institutional interest in...

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Aptos has retested a 4-hour bullish order block. A breakout past $19-$20 could see APT register massive gains. Aptos has registered gains of 18% within 12 hours to...

Bitcoin saw over 50,000 in Coin Days Destroyed. The Aroon indicator, however, pointed to the absence of pending price reversal. There are indications that Bitcoin’s [BTC] recovery remained active at press time, and that it may soon surpass the $23,000 price level. The fact that these transactions appeared to be increasing suggested that it was caused by the movement of whales.

AlephZero was added to Polkadot as the 38th parachain. Despite declining activity, staker interest and development activity increased. AlephZero, a zkSnark based cryptocurrency, was added to Polkadot [DOT] as the 38th parachain on the network. This addition to Polkadot could likely improve the state of its ecosystem. However, despite the growing ecosystem, there were areas where Polkadot did not show any improvement.

Ripple’s ODL product reaches new heights but sees a decline in sales. XRP’s price and weighted sentiment metric surge, but growing short positions raise concerns. Ripple‘s On Demand Liquidity (ODL) product has been making headlines as the firm reported sales of over $200 million in Q4 of 2022.

The FOMC meeting on 1 February was perhaps the most anticipated event in the investment landscape. This includes the cryptocurrency market, hence the heavy expectations, especially among Bitcoin investors and enthusiasts. Is your portfolio green? Check out the Bitcoin Profit Calculator. The biggest question of the day was whether the...

Miners might revert to a revenue increase as the Puell Multiple left the capitulation area. Market statistics showed that the current condition was not overheated. Bitcoin [BTC] holders were not the only recipients of welcome developments recently. Like the holders, miners who have struggled with inhospitable conditions may also have cause to celebrate in the near term. This is after they had spent months in losses.