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An analyst who called the end of Bitcoin’s (BTC) bull market last year is predicting surges for blockchain scaling solution Polygon (MATIC) and smart contract protocol Avalanche (AVAX).
Pseudonymous analyst Pentoshi tells his 671,300 Twitter followers that MATIC looks bullish and could be gearing up for a rally toward a major resistance area.

“This one the most important and historical spot on the chart is $1.30. Think that is a great place to focus on the next major move. If able to close three-day [chart]+ above that, then we go into the previous range. Reject and back to the local lows shown.” 
Source: Pentoshi/Twitter
At time of writing, MATIC is changing hands for $1.14, flat on the day.
Next up is Ethereum (ETH) competitor AVAX. According to the crypto strategist, Avalanche looks poised for a 36% surge as the coin is now trading above $20.
“So Amazon comes to crypto, partners with AVAX and then announces an NFT [non-fungible token] initiative, (but not confirmed if with Avax). They are making moves. Think this can run to $28 in the next month or so.”
Earlier this month, Amazon reportedly teamed up with AVAX developer Ava Labs in an effort to speed up blockchain adoption across multiple industries.
Pentoshi is also keeping an eye on Ethereum itself, which he says appears to be setting up for a rally in its Bitcoin pair (ETH/BTC).
“Think ETH/BTC gets a little relief soon.” 
Source: Pentoshi/Twitter
Looking at the Pentoshi’s chart, it seems that he’s predicting a surge to around 0.072 BTC ($1,677) for ETH/BTC. At time of writing, the pair is switching hands for 0.068934 BTC ($1,605).
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Grunge Creator/Voar CC
The post Crypto Strategist Predicts Rallies for Polygon and Avalanche, Says Ethereum Setting Up To Outperform Bitcoin appeared first on The Daily Hodl.


An analyst who called the end of Bitcoin&#8217;s (BTC) bull market last year is predicting surges for blockchain scaling solution Polygon (MATIC) and smart contract protocol Avalanche (AVAX). Pseudonymous analyst Pentoshi tells his 671,300 Twitter followers that MATIC looks bullish and could be g...

dailyhodl.com

Crypto Strategist Predicts Rallies for Polygon and Avalanche, Says Ethereum Setting Up To Outperform Bitcoin

The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back in November 2022. 
However, the governance token of the platform, AAVE, has not responded either positively or negatively. According to data from CoinGecko, the token registered losses in the daily and weekly time frames. But these losses are too miniscule to revert the token’s gains from the start of the year. 
 With the launch of AAVE’s V3 on its mainnet, the crypto might be in a position to tally new highs if the situation permits it. 

The Gist Of The Proposal & On-Chain Developments
Based on the proposal, the token has over 2,677,749 units of CRV in debt on its Ethereum V2 CRV reserve. This is worth, at the date of the proposal, over $2.5 million. The proposal would use V2’s stablecoin reserve to buy the necessary number of units of CRV to pay the debt.
This obviously was accepted by the community positively, being implemented immediately by January 25th. This would reverse the damage of the exploit attempt, proving the liquidity of the protocol. 
The deployment of AAVE’s V3 on Ethereum was also implemented. According to DefiLlama, the crypto is in the top 4 among all platforms. AAVE V3, the Ethereum pool deployment, has over $526.52 million total value locked. 

At $86.02, What’s In Store For AAVE? 
The token is currently consolidating around the $85.8 support range. This could be a sign that the token still has room to regain lost ground from 2022’s bear market. However, this can only be achieved if the token closes with a green candle to continue AAVE’s rally when the year started. 
Investors and traders should target the token’s current resistance at $90.15. If the bulls can consolidate at the token’s present support, we can see an upward push towards $94.70. 




Investors should also monitor the token’s correlation with Bitcoin and Ethereum as these would have a big influence on its price movement in the short to medium term. 
As these major cryptocurrencies retest their crucial resistances, a breakthrough by either one or both of these coins would boost AAVE’s momentum to regain lost ground. 
With this in mind, investors and traders should exercise caution in the short to medium term as the token can still be clawed by the bears to revert back to $78.65.
Featured image by Kanalcoin.com


The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back...

newsbtc.com

AAVE Seeks Proposal To Clear Itself Of Bad Debt – Can It Overcome These Obstacles?

New data from crypto analytics platform Santiment reveals that whale transactions are spiking for Litecoin (LTC), Polygon (MATIC) and two Ethereum (ETH)-based altcoins.
According to the market intelligence firm, Bitcoin (BTC) alternative Litecoin is experiencing a resurgence of whale activity that could result in another price explosion of more than 30%, which is what happened the last two times whale activity centered around LTC spiked.

“Litecoin’s large whale transactions have exploded with activity, indicating a resurgence of transactions that are valued at $1 million or more. On the tail end of the last two similarly sized whale spikes, prices jumped +37% and +33% at their peaks.”
Source: Santiment/Twitter
At time of writing, Litecoin is changing hands at $87.29. A 30% price increase would bring Litecoin to a value of about $114.
Santiment also says the networks of layer-1 protocol Aave (AAVE), decentralized exchange DyDx (DYDX) and scaling solution Polygon have seen a huge increase in whale transactions in the past month, adding that their prices have also seen big increases.
“AAVE (+56% 30-day price), MATIC (+35%), and DYDX (+94%) have all seen dramatic rises in the amount of whale transactions on their respective networks over the past month. The increased large address interest in these assets should be watched closely.”
Source: Santiment/Twitter
At time of writing, DyDx is changing hands for $2.51 while Aave and Polygon are moving for $87.33 and $1.17, respectively.
The crypto analytics platform goes on to note that altcoins overall are having a strong rally to start the year, and the upswing looks like it may continue.
“Altcoins are on another impressive run, with several notable assets up 20% or more. After a five-day crypto dip, prices are seeing little resistance. Social spikes and FOMO (fear of missing out) may cause a top, or traders will scoff at this run (allowing rallies to continue).”
Source: Santiment/Twitter
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney/ Shutterstock
The post Whales Are Pouncing on Litecoin, Polygon and Two Ethereum-Based Altcoins, Says Analytics Firm Santiment appeared first on The Daily Hodl.


New data from crypto analytics platform Santiment reveals that whale transactions are spiking for Litecoin (LTC), Polygon (MATIC) and two Ethereum (ETH)-based altcoins. According to the market intelligence firm, Bitcoin (BTC) alternative Litecoin is experiencing a resurgence of whale activity tha...

Whales Are Pouncing on Litecoin, Polygon and Two Ethereum-Based Altcoins, Says Analytics Firm Santiment

Bitcoin started the weekend hovering near $23,000, as markets continued to react to personal consumption data in the United States. Figures released on Friday reported that spending fell by 0.2% last month, despite overall consumer sentiment moving higher. Ethereum remained close to $1,600 to start the day.
Bitcoin
Bitcoin (BTC) remained close to the $23,000 level on Saturday, as markets continued to react to Friday’s U.S. personal consumption data.
Following a high of $23,417.72 late on Friday, BTC/USD fell to an intraday low of $22,880.60 earlier in the day.
This came as bitcoin was once again unable to break out of a key resistance level at $23,500, leading to a resurgence of bearish sentiment.

In addition to this, the 14-day relative strength index (RSI) has dropped below the 80.00 mark, and looks to be headed for a floor at 76.00
Should momentum continue in a downward direction, it is likely that BTC will collide with a floor at $22,400.
Currently, the index is tracking at 78.59, with BTC/USD trading at $22,930.60.

Ethereum
After a brief stint moving back above $1,600 late on Friday, ethereum (ETH) started the weekend once again below this level.
ETH/USD dropped to a bottom of $1,568.69 on Saturday, less than a day after hitting a peak of $1,617.00.
Volatility in ethereum has been heightened in recent days, following a failed breakout attempt of the $1,645 level earlier this week.

Following weeks of being overbought, price strength has begun to decline, with the 14-day RSI now tracking below its floor at 63.00
As of writing, the index is at a reading of 62.50, with ethereum at $1,582, with a floor at $1,550 a possible target for sellers.
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Do you expect cryptocurrency prices to fall further this weekend? Leave your thoughts in the comments below.




Bitcoin started the weekend hovering near $23,000, as markets continued to react to personal consumption data in the United States. Figures released on Friday reported that spending fell by 0.2% last month, despite overall consumer sentiment moving higher. Ethereum remained close to $1,600 to sta...

news.bitcoin.com

Bitcoin, Ethereum Technical Analysis: BTC Hovers Near $23,000 to Start the Weekend

An under-the-radar layer-1 crypto project is exploding to new all-time highs this week amid the rollout of a new revenue feature.
Canto (CANTO), a permissionless general-purpose blockchain running the Ethereum Virtual Machine (EVM), is changing hands at $0.403 at time of writing, a more than 120% increase from where it was trading seven days ago.

The 196th-ranked crypto asset by market cap also printed a new all-time high of around $0.442 at one point on Friday.
Canto implemented a fee split model called “Contract Secured Revenue” (CSR) on Thursday, which allows users to earn a portion of the protocol’s transaction fees.
Explains the project,
“CSR allows you to claim a percentage of any transaction fees paid to the network when users interact with your smart contracts. An initial percentage split of 20% is proposed, to be voted on by Canto governance.”
The decentralized finance (DeFi) tracker DeFi Llama notes that Canto’s decentralized exchange (DEX) saw $63.2 million in daily trading volume on Tuesday, a more than 200% increase from the previous day.
Source: DeFi Llama/Twitter
The DEX also registered a similar volume on Thursday and Friday and is now the sixth-most popular decentralized exchange on DeFi Llama’s volume dashboard.
Additionally, more than $340 million worth of value has been bridged from Ethereum (ETH) to Canto at time of writing, according to a dashboard developed by Dan Smith, the senior research analyst at Blockworks.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
Featured Image: Shutterstock/WindAwake
The post Layer-1 Crypto Project Erupts 190% in Just One Week Amid Rollout of New Revenue Feature appeared first on The Daily Hodl.


An under-the-radar layer-1 crypto project is exploding to new all-time highs this week amid the rollout of a new revenue feature. Canto (CANTO), a permissionless general-purpose blockchain running the Ethereum Virtual Machine (EVM), is changing hands at $0.403 at time of writing, a more than 120%...

Ethereum price	$1,639.33
Low - High 24H	$1,588.32 - $1,658.20
Market cap	$197.73B
Volume 24H	$9.28B
All time high	$4,878.26 -66.40% November 10th 2021
All time low	$0.432979 378427.71% October 20th 2015
Genesis date	N/A

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