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Crypto traders are talking about SOL price falling due to the risk of FTX selling its $1.16 billion Solana stake. Are they over-exaggerating? For a long time, Solana (SOL) has been associated with the founder of now insolvent crypto exchange FTX and hedge fund Alameda Research, Sam Bankman Fried. He was an early investor in the project and invested in numerous Solana ecosystem projects during the 2020-2021 bull mania. So when FTX collapsed toward the end of 2022, Solana and other “Sam coins” plummeted significantly, falling to lows of $9.89 — down 96.3% from the peak of $259.96. Since the start of 2023, Solana’s price staged a recovery to gain 175% to reach a peak of $27.37 as the ecosystem also witnessed growth. However, more recently, SOL came under tremendous selling pressure after the Delaware Bankruptcy Court approved the sale of FTX’s digital assets, which includes 55.75 million SOL worth $1.062 million. However, the unlock schedule of FTX’s holdings and derivative market posit...

More gains for XRP price appear likely due to a classic bullish continuation pattern alongside strong whale accumulation. XRP (XRP) has risen by an impressive 60% in the first quarter of 2023, helped by rising speculation over Ripple’s potential legal win versus the U.S. Securities and Exchange Commission and broader bullish sentiment in the cryptocurrency market. The XRP/USD pair now eyes more gains in the second quarter, primarily due to a classic bullish continuation pattern. XRP price paints bull pennant In late March, XRP broke above its multimonth ascending trendline resistance, averting a potential 35% correction. The rebound reached $0.58 on March 29, its highest level since May 2022. Now, XRP has been consolidating sideways in what appears to be a bull pennant. This bullish continuation pattern forms when the price consolidates inside a symmetrical triangle after undergoing a strong rally. A bull pennant resolves after the price breaks above its upper trendline while accompa...

SOL price rallied to a year-to-date high above $30, but Solana’s struggle with increasing its user stats call the current bullish momentum into question. Solana (SOL) price briefly surged to a new year-to-date peak on June 14 after Ripple’s partial win against the U.S. Securities Exchange and Commission in the case contesting XRP’s position as a security.  The token recorded gains of 48.09%, reaching a peak of $32.40 as news of the court ruling spread, before retracing below the $30.00 level. The positive gains following the verdict not only eliminated the losses from June 2023 when the SEC considered SOL a security in its lawsuit against Binance and Coinbase, but also reclaimed levels not seen since the FTX collapse in November 2022. However, the network's usage and market charts suggest that a long-term bullish price trend is unlikely, with the $30 level forming a crucial resistance level. Solana ecosystem growth stalls The total fees paid on Solana are still ranging below Q3 ...

On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses whether Bitcoin will ever be below $27,000 again. Have you missed your chance to purchase some sats at sub $30,000 levels? In the latest episode of The Market Report, analyst and writer Marcel Pechman analyzes some data to conclude whether Bitcoin (BTC) will ever trade at $27,000. Some analysts attribute Bitcoin’s recent 21.5% gains to BlackRock’s spot Bitcoin exchange- trade d fund (ETF) filing, but other events might have also fueled the cryptocurrency gains. Pechman asserts that, following a period of enforcement actions by regulators against exchanges allegedly acting as unregistered securities brokers, the United States crypto regulatory environment has improved. More recently, the U.S. Securities and Exchange Commission has drawn opposition in Congress and the Federal Reserve. That shows just how conflicting the U.S. government’s views on crypto regulation are. Pechman shows how Bitcoin futur...

This week’s bearish regulatory actions and rumors were not strong enough to suppress investors’ appetite for cryptocurrency. The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in Nov. 2021. Still, the current recovery is notable.  Total crypto market cap in USD, 1-day. Source: TradingView As shown above, the ascending channel initiated in mid-January has left some room for a 10% correction down to $1 trillion without breaking the bullish formation. Investors reacted positively to the 5.6% year-on-year U.S. CPI inflation increase on Feb. 14 and the 3% retail sales monthly growth on Feb. 15. Bitcoin (BTC) had the biggest positive impact on the total crypto capitalization as its price gained 12.5% on the week. One area of concern is a Feb. 16 story on Binance.US financial transaction...