Ethereum
U.Today’s Crypto News Roundup
Valeria Blokhina
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Check out the top three news stories of the past day, presented by U.Today.
Legendary Trader John Bollinger Releases Blockbuster Litecoin (LTC) Price Prediction
John Bollinger, a prominent trading expert and creator of Bollinger Bands, recently made a positive prediction for the price of Litecoin (LTC). It all started with a user from X asking for Bollinger’s opinion on the monthly LTC chart, to which the expert responded by asking to adjust the chart by setting the Y-axis slightly lower than the lowest price, while keeping the logarithmic scale. Once the adjustments were made, the Litecoin price chart showed a tightening of the Bollinger Bands, indicating the low volatility of the market, which often results in a large price movement. Bollinger commented on the chart, saying that it looks like “it’s time for LTC to wake up.”
Samson Mow criticizes ETH ahead of Ethereum ETF launch
In a recent X postSamson Mow, CEO of JAN3 and avid Bitcoin supporter, critical Ethereum Price Action. His statement came at a time when Ethereum spot ETFs are about to begin trading. Mow highlighted the fact that Ethereum is “performing horribly,” implying that the asset’s price has seen little to no upward movement following the announcement that Ethereum ETF spot trading would soon begin. As a reminder, Bitcoin’s price reacted differently than Ethereum’s when the SEC approved Bitcoin spot ETFs back in January; right after the approval was announced, BTC saw a sharp spike in price, even before actual trading began.
Shiba Inu (SHIB) Remains in the Lead with a 482% Increase in Burn Rate
While the announcement of the launch of the Ethereum ETF dominated the broader cryptocurrency market, Shiba Inu continued to maintain its increase combustion rate measurement. While it is not yet clear whether this burn rate is a transfer from earlier this week, its 482% increase over 24 hours has rekindled hidden sentiments about the meme currency. According to data provided by Shibburn, 60,380,203 SHIB were sent to dead wallets during the aforementioned period. In turn, the number of tokens burned over the past week amounts to 135,026,217 SHIB. This latest burn cycle revealed notable activity from at least five different wallet addresses; according to Shibburn, each of the wallets deposited at least 9,999,999 SHIB into dead wallets.
About the Author
Valeria Blokhina
Valeria is the Community Manager at U.Today. She is passionate about crypto and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news from the world of crypto and blockchain.