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Blockchain analytics platform Santiment is saying that Bitcoin (BTC) has mostly stayed flat amid the recent bounce in the stock market.
Santiment says that the stock market has climbed to its highest level in about 10 months as the US government resolves the debt ceiling issue.

While Bitcoin has fallen behind the strong performance of the S&P 500 as of late, the analytics firm says that BTC could soon follow suit.
“The US House has passed a key debt ceiling deal, launching the S&P 500 to its highest price since August. Altcoins like LTC, LEO, and FGC have jumped today. With crypto lagging behind equities, there could be some BTC catch-up time coming soon.”
Source: Santiment/Twitter
Turning to XRP, Santiment says that the sixth-largest crypto asset by market cap is enjoying record address activity and high levels of crowd optimism.
“XRP Network is the top trending asset in crypto as prices have jumped +22% the past 19 days. We are also seeing historically high address activity surges for the sixth-ranked market cap asset. Expect XRP’s price to behave uniquely for the time being.”
Source: Santiment/Twitter
Looking at the peer-to-peer payments network Litecoin (LTC), Santiment says that the altcoin’s rise above a key psychological level comes amid an increase in on-chain transaction volume and high whale activity.
“Litecoin’s market value is +6.5% in the past 24 hours as its halving is now just over two months away. This surge has been powered by a massive two-year high in on-chain transaction volume, and the highest whale activity since January.”
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.

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The post Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin appeared first on The Daily Hodl.


Blockchain analytics platform Santiment is saying that Bitcoin (BTC) has mostly stayed flat amid the recent bounce in the stock market. Santiment says that the stock market has climbed to its highest level in about 10 months as the US government resolves the debt ceiling issue. While Bitcoin has ...

dailyhodl.com

Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin

A widely followed crypto analyst is updating his followers on the state of altcoins, looking at Litecoin (LTC) and Chainlink (LINK) specifically.
Crypto trader Michaël van de Poppe tells his 657,300 Twitter followers that the total market cap for altcoins has “heavy” support on the 200-week moving average (MA) and the exponential moving average (EMA).

“Total market capitalization for altcoins is on a crucial level.
It shows that we’re looking at a heavy support on the 200-Week MA and EMA. 
If those sustain, a new impulse move to the upside is likely.”
Source: Michaël van de Poppe/Twitter
Looking specifically at LTC’s 200-week MA and EMA, Van de Poppe says Litecoin is ready for price movements as we approach the altcoin’s halving.
“Litecoin fighting the 200-MA and EMA again on the Weekly timeframe. 
Primed for a breakout, as we’re getting closer to the halving.”
Source: Michaël van de Poppe/Twitter
The Litecoin halving is an event that occurs every four years where the block reward for mining Litecoin is cut in half. This reduces the supply of Litecoin and can lead to an increase in price. The trader thinks LTC looks good heading into its halving, expected in August of this year.
“Litecoin looks bueno.”
Litecoin is worth $94.52 at time of writing, up 9.4% in the last week.
Finally, retweeting a post from a few days ago, Van de Poppe calls Chainlink’s current price zone “the opportunity of a lifetime,” a sentiment he’s been expressing since at least February of this year.
“Chainlink between $6-8 is an opportunity of a lifetime.”
LINK is trading for $6.39 at time of writing.
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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/Elnur/Natalia Siiatovskaia
The post Top Crypto Analyst Gives Altcoin Update, Says Litecoin (LTC) Looks ‘Bueno’ appeared first on The Daily Hodl.


A widely followed crypto analyst is updating his followers on the state of altcoins, looking at Litecoin (LTC) and Chainlink (LINK) specifically. Crypto trader Michaël van de Poppe tells his 657,300 Twitter followers that the total market cap for altcoins has &#8220;heavy&#8221; support on the 20...

Top Crypto Analyst Gives Altcoin Update, Says Litecoin (LTC) Looks ‘Bueno’

In a recent post, Ripple CTO, David Schwartz, explained Automated Market Makers (AMMs) – a vital component in the decentralized finance (DeFi) framework, and their trading strategies for profit.

Schwartz states that AMMs thrive when an asset is volatile but does not change its price direction much. Schwartz explained further that an asset whose volatility exceeds its long-term trend would have a positive average percentage movement. However, if the long-term trend is negative, it will reduce the average slightly and vice-versa. 
It’s Not Difficult to Create A Trading Strategy, Ripple CTO
According to the Ripple CTO, it is not difficult to create a trading strategy to track the average percentage movement of an asset. 
He further explained that the trading strategy of an AMM is advanced compared to a simple trading strategy and focuses on price volatility.

Schwartz, however, added a disclaimer at the end of his analysis. He stated that the AMM trading strategy only works for an AMM between an asset with a fixed price and one whose price is volatile enough to overcome its long-term trend. 
Also, he believes that although AMM works even when the assets don’t meet the stated conditions, their behavior is different. From his analysis, a notable deviation will only occur with a long-term negative price movement that exceeds the volatility.
Crypto Enthusiast Reacts To Analysis
Reacting to Schwartz’s AMM analysis, Molly Elmore asked if XRP would be the asset with a fixed price paired with every other asset on the XRP ledger (XRPL).

In response, Schwartz stated that the AMM is not exclusive to XRP and can function between any asset pair. However, the trading strategies will differ mathematically if both assets are volatile. 
Citing the BTC/XRP pair as a reference, Schwartz stated that although both assets are volatile, the pairing is still great.
Additionally, he stated that if you are bullish on XRP and BTC, investing in an XRP/USD AMM implies holding much USD that can go up.
Notably, holding shares of an XRP/BTC AMM captures more of the upward price movement of XRP and BTC if the bullish sentiment is correct.
Schwartz continued his analysis, stating that if XRP and BTC’s price doubles, an XRP/USD AMM has a worst-case (no volatility and no market making) yield of around 40%.
In comparison, an XRP/BTC AMM has a worst-case yield of 100%. On the flip side, Schwartz noted that the outcome is worse if your bullish sentiment is wrong. 
If both XRP and BTC reduce by 50%, the worst case loss is 50%, while for an XRP/USD AMM, the worst case loss is about 30%. So he believes XRP USD is safer while XRP/BTC is volatile. Schwartz noted that his analysis seemed complex and explained further in a tweet. 
He stated that AMMs charges trading fees, and volatility causes people to trade with AMMs. Therefore, AMMs turn volatility into fees.
Featured image from Pixabay and chart from Tradingview.com


In a recent post, Ripple CTO, David Schwartz, explained Automated Market Makers (AMMs) &#8211; a vital component in the decentralized finance (DeFi) framework, and their trading strategies for profit. Related Reading: Litecoin Breaks $95 As Whale Transactions Spike Schwartz states that AMMs thriv...

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Ripple CTO Schwartz Reveals Insights Into AMM Trading Strategy

Litecoin has recently managed to break past the $95 mark as on-chain data shows the whales have become active on the network.
Litecoin Has Surged After Spike In Whale Activity
According to data from the on-chain analytics firm Santiment, the current whale activity is the highest it has been since January. The relevant indicator here is the “whale transaction count,” which measures the total number of transfers taking place on the Litecoin network that involve the movement of coins worth at least $100,000.
Since such transactions are quite large in scale, generally only the whale entities are capable of making them. Thus, this indicator can provide us with an idea about the number of transfers that these humongous holders are making on the blockchain.
Due to the sheer number of coins involved in each of these transfers, if a large amount of them take place at once, the market can register noticeable fluctuations. So, whenever the whale transaction count has a high value, the price of LTC becomes more probable to display volatility.
On the other hand, when this metric has low values, the price may stay relatively calm, as it suggests that the whales aren’t making too many moves on the market right now.
Now, here is a chart that shows the trend in the Litecoin whale transaction counts over the last six months or so:


As shown in the above graph, the Litecoin whale transaction count has observed a large spike recently. This means that whales have ramped up their transfer activity in the last couple of days.

At the peak of this spike, the indicator had reached its highest level since January 26, 2023. These high values have come as the price has been going up, and since they have taken place, the uptrend has only continued further, with LTC managing to break past $95.
Generally, when whales become active, the price volatility can go either way as the transaction count metric only tells us about the pure number of transfers happening on the chain and not about whether they are buying or selling moves.
However, as the price has seemingly continued to rise following this latest spike, it may appear that the Litecoin whales could be supportive of the current uptrend.
The chart also includes the data for the transaction volume, which is a measure of the daily total amount of LTC that is registering some movement on the blockchain.

This indicator has also seen a rapid increase recently, suggesting that users are moving around large amounts on the network currently. Such a trend is generally a sign of activity being high throughout the network and is often constructive for the price.
This new surge in the price of Litecoin has come as the halving, an event where the coin’s block rewards will be permanently cut in half, is just a couple of months away now.
LTC Price
At the time of writing, Litecoin is trading around $95, up 9% in the last week.





Litecoin has recently managed to break past the $95 mark as on-chain data shows the whales have become active on the network. Litecoin Has Surged After Spike In Whale Activity According to data from the on-chain analytics firm Santiment, the current whale activity is the highest it has been since...

Litecoin Breaks $95 As Whale Transactions Spike

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Litecoin.

Ethereum (ETH)
Ethereum’s volatility spiked this week, and it managed to book a 4% price increase. This puts ETH into an uptrend and confirms the $1,820 level as support.
To remain in the green, ETH will need to break above two key levels, $2,000 and $2,100, which currently act as resistance. Bears did not show any resistance at $2,000 in April but came in strong at $2,100. It remains to be seen if this time will be different.
Looking ahead, buyers have returned to Ethereum. However, it is still too early to tell if they are serious about maintaining this uptrend. A clean breakout above the two key resistance levels would give them full control of the price.
Chart by TradingView
Ripple (XRP)
In a surprising move, XRP has reached 50 cents this week and booked an 11.7% price increase, making it the best performer on our list. The price is now just under the key resistance at 53 cents which has historically pushed back any attempt from buyers to take XRP higher.
In April, sellers came in strong at the current resistance level and did not allow it to move higher. If they reject the price again, then the key support is at 44 cents.
Looking ahead, XRP has a big opportunity to escape its current range established in April and May. If the resistance breaks, then buyers might have a good chance to take XRP to 60 cents next.
Chart by TradingView
Cardano (ADA)
Cardano continues to lag behind when compared to XRP, and its price action is similar to ETH, which allowed it to book a 4% price increase this week. The key resistance is at 38 cents, while the support is found at 36 cents.
Considering that the price has made a higher high, the trend is shifting bullish. However, ADA will need to turn the 38 cents level into support to sustain this momentum. Otherwise, it may continue to range as it did for most of May.
Looking ahead, Cardano has a good opportunity to break higher, but conviction from buyers is still lacking. This could quickly change if bulls move the price above 38 cents.
Chart by TradingView
Binance Coin (BNB)
Binance Coin had a difficult week, being unable to establish a clear trend. For this reason, the price remained relatively flat, with a modest 0.5% increase this week.
BNB has failed to break above the key resistance at $313 several times in May. This shows that sellers continue to hold a grip on the price at this time. The momentum indicators lean bearish, and this looks unlikely to change with this price action.
Chart by TradingView
Litecoin (LTC) 
Litecoin had a great week after booking an 8.5% price increase. Now, the price is just under the key resistance at $95. While bulls could break this key level, the true test awaits at $100 and beyond. Since early 2023, LTC has failed to sustain a price at three digits even if bulls managed to take it there several times.
With increasing buy volume, the current sentiment appears to favor bulls. However, the road to a three-digit valuation is going to be bumpy as sellers may be eager to return as soon as LTC reaches $100.
Looking ahead, the momentum is bullish, and this price action has formed an ascending triangle. If buyers are successful, then the $100 resistance might turn into a key support that will open the way to a much higher valuation for LTC.
Chart by TradingView
The post Crypto Price Analysis Jun-2: ETH, XRP, ADA, BNB, and LTC appeared first on CryptoPotato.

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Litecoin. Ethereum (ETH) Ethereum&#8217;s volatility spiked this week, and it managed to book a 4% price increase. This puts ETH into an uptrend and confirms the $1,820 level as support. To remain in the green, ETH w...

Litecoin price	$96.94
Low - High 24H	$93.31 - $97.29
Market cap	$7.07B
Volume 24H	$3.89B
All time high	$410.26 -76.41% May 10th 2021
All time low	$1.15 8323.16% January 14th 2015
Genesis date	N/A

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