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3 02, 2025

Why are altcoins ADA and SOL crashing?

By |2025-02-03T12:11:52+02:00February 3, 2025|Crypto News, News|0 Comments

  • Cardano and Solana prices continue to trade in red on Monday after falling over 15% the previous week.
  • Coinglass data shows that ADA and SOL liquidated a total of $120 million in the last 24 hours.
  • Technical outlook and on-chain metrics for both altcoins suggest a continuing bearish trend.

Cardano (ADA) and Solana (SOL) prices continue to trade in red on Monday after falling over 15% the previous week. On Saturday, the implementation of the United States (US) President Donald Trump’s announced tariffs on major trading partners, including China, Canada, and Mexico, exerted some selling pressure on the overall crypto market. 

The recent downturn at the start of this week has liquidated over $120 million from ADA and SOL in the last 24 hours. Both altcoins’ technical outlook and on-chain metrics suggest a continuing bearish trend.

Cardano and Solana traders face massive wipeout over $120 million

The crypto market began a correction on Friday as Bitcoin dropped below a key support level, continuing its decline through the weekend. By Sunday, altcoins like Cardano and Solana had followed BTC’s lead, falling nearly 16% last week and extending their correction into the new week. 

ADA and SOL correction on Monday triggered a wave of liquidations, resulting in over $120 million in total liquidations and more than $84 million, specifically in SOL, according to data from CoinGlass. Huge liquidations like this could spark Fear, Uncertainty and Doubt (FUD) among these altcoin investors and could cause a rise in selling pressure, leading to further decline in its prices.

SOL Liquidation chart. Source: Coinglass

ADA Liquidation chart. Source: Coinglass

ADA Liquidation chart. Source: Coinglass

On-chain metrics show bearish signs

According to Coinglass’s OI-Weighted Funding Rate data, the number of traders betting that the prices of altcoins Cardano and Solana will slide further is higher than that anticipating their price to increase. 

This index is based on the yields of futures contracts, which are weighted by their open interest rates. Generally, a positive rate (longs pay shorts) indicates bullish sentiment, while negative numbers (shorts pay longs) indicate bearishness.

In the case of Cardano and Solana, this metric stands at -0.0058% and -0.0017%, respectively, reflecting a negative rate and indicating that shorts are paying longs. This scenario often signifies bearish sentiment in the market, suggesting potential downward pressure on Cardano and Solana prices.

ADA funding rate chart. Source: Coinglass

ADA funding rate chart. Source: Coinglass

SOL funding rate chart. Source: Coinglass

SOL funding rate chart. Source: Coinglass

Cardano Price Forecast: Bears take the lead

Cardano’s price faced rejection around its weekly resistance level of $1.18 on January 17, declining nearly 19% in the next two weeks. As of Monday, it continues to decline by 21.63%, around $0.63 at the time of writing.

If ADA continues correcting, it could extend the decline to test its next weekly support at $0.44.

The Relative Strength Index (RSI) indicator on the weekly chart reads 45, below its neutral level of 50 and points downwards, indicating bearish momentum. Additionally, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, suggesting a downward trend.

ADA/USDT weekly chart

ADA/USDT weekly chart

Solana Price Forecast: Bears aim for $120 mark

Solana’s price declined 15.38% and closed below the 50% price retracement level at $192.20 (drawn from the November 4 low of $155.11 to the November 22 all-time high of $264.39) last week. At the time of writing on Monday, it continues to trade down by 6.34%, around $190.61.

If SOL continues its decline, it could extend to test the January 13 low of $168.88. A successful close below this level would extend an additional decline to test its next weekly support at $120.91.

The RSI indicator on the weekly chart reads 49, below its neutral level of 50 and points downwards, indicating bearish momentum. The MACD also shows a bearish crossover, suggesting a downward trend.

SOL/USDT weekly chart

SOL/USDT weekly chart


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3 02, 2025

Natural Gas and Oil Forecast: Supply Risks vs. Weak Demand—What’s Driving Prices Now?

By |2025-02-03T11:12:55+02:00February 3, 2025|Forex News, News|0 Comments


Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.



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3 02, 2025

The EURUSD price hits the extended target – Forecast today

By |2025-02-03T10:14:25+02:00February 3, 2025|Forex News, News|0 Comments

The EURUSD price opened today’s trading with strong bearish gap that pushed the price to touch the extended waited target at 1.0220$, affected by Trump decision to impose Tariffs on Canda and Mexico, and mentioning the chances of expanding the Tariffs to reach the European Union countries, to fall under expected negative pressure in the upcoming period, noting that breaking the current areas will push the price to visit 1.0100$ barrier as a next main station.

 

Therefore, we expect to witness more decline in the upcoming sessions, noting that failing to break 1.0220$ will lead the price to start recovery attempts and head to test 1.0325$ initially.

 

The expected trading range for today is between 1.0140$ support and 1.0300$ resistance

 

Trend forecast: Bearish



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3 02, 2025

Are The NMN Supplement Benefits Going Viral On TikTok Legit?

By |2025-02-03T10:12:14+02:00February 3, 2025|Dietary Supplements News, News|0 Comments


In our hectic modern world, it’s hard not to see the appeal of supplements. They’re quick, convenient, and promise to help you meet your daily recommended dietary allowance (RDA) of nutrients if you’re deficient or concerned that you’re not getting enough vitamins from your food. And one supp that’s currently trending? Nicotinamide mononucleotide, otherwise known as NMN.

As per the National Institute of Health website, NMN is a “precursor for NAD+ biosynthesis” that has the potential to “…mitigate aging-related disorders such as oxidative stress, DNA damage, neurodegeneration, and inflammatory responses.” And while it’s skyrocketed in popularity in recent years, we’ve asked top experts whether all the many reported NMN supplement benefits are too good to be true…





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3 02, 2025

XRP Price Crash 24.6% After Ripple Unlocks $1.1 Billion in Tokens

By |2025-02-03T10:10:59+02:00February 3, 2025|Crypto News, News|0 Comments

Yesterday, Ripple unlocked at least 400 million XRP, valued at around $1.136 billion. In the last 24 hours alone, the price of XRP has dropped by over 24.6%.

What Actually Happened in the XRP Market?

As part of Ripple’s routine monthly token release from escrow, yesterday, at least 400 million XRP, worth nearly $1.136 billion, were unlocked. The development was initially brought to attention by Whale Alert. 

The XRP market’s daily chart shows that it took no time for investors to respond to the development. In the last 24 hours alone, the XRP market has declined by at least 24.6%. 

Does All the Unlocked XRP Enter the Market?

Highlighting the unique unlock process of Ripple, reports state that not all the unlocked XRP tokens entered the market yesterday. Experts familiar with Ripple’s unlock process explain that Ripple generally uses just 20 to 25% of the tokens released during an unlock session. 

What Happens to the Remaining XRP?

Experts add that Ripple locks back the remaining tokens in the custody account. In simple terms, this is how the XRP unlock process works: Ripple unlocks a set amount of XRP from escrow, sells around 20% to 25% of the unlocked tokens to institutions, exchanges, or for strategic partnerships, and locks the rest back into escrow, extending the release schedule to future months.

Why Does Ripple Do This?

It is to manage supply, promate stability and fund operations that Ripple unlocks a specific amount of tokens every month. Additionally, to limit the impact of the unlock process, Ripple sells just a small portion of the unlocked XRP and locks back the rest. 

XRP Market Overview

XRP Price Crash 24.6% After Ripple Unlocks .1 Billion in Tokens

At the start of this year, the XRP market stood at around $2.0847. Between January 10 and 17, the market witnessed sharp growth of 45.01%. On January 16, the market touched a yearly peak of $3.3994. On January 19, the market sharply plummeted from $3.2721 to $2.9589.

Between January 20 and 31, the market stayed within the range. On February 1, the market sharply broke below the range. Since February 1, the market has experienced a decline of 26.15%. At one point today, the market fell as low as $1.7752. Currently, the market stands at $2.2409. 

Ripple’s regular XRP unlock process aims to balance supply while supporting operations. Although large token releases can trigger price reactions, Ripple’s controlled approach – selling only a portion and re-locking the rest – helps manage long-term market stability. 

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FAQs

Why is XRP going down today?

XRP dropped today due to the market’s reaction to Ripple unlocking 400 million tokens, triggering concerns about oversupply.

Is the XRP market decline temporary?

The XRP decline could be temporary, as Ripple’s controlled release process is designed to prevent long-term market instability.

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3 02, 2025

The GBPJPY surrenders to the negative pressures – Forecast today – 3-2-2025

By |2025-02-03T09:11:48+02:00February 3, 2025|Forex News, News|0 Comments


Ethereum price (ETHUSD) opened today’s trading with sharp decline, to break 2764.75$ level and reach 2108.90$, noting that exiting the bearish channel hints heading to suffer more losses on the intraday and short-term basis, noticing that the price is trying to cover some losses and provide positive trades now, as it moves around 2500.00$.

 

The mixed trades make us prefer to stay aside until the price settles and get clearer signal for the next trend, noting that breaking 2356.50$ will push the price to continue the decline and achieve additional negative targets that reach 2000.00$ barrier, while breaching 2764.75$ will lead the price to regain the bullish track and achieve gains that start by visiting 3017.30$.

 

The expected trading range for today is between 2300.00$ support and 2730.00$ resistance.

 

Trend forecast: Neutral





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3 02, 2025

The EURJPY hits the target – Forecast today – 3-2-2025

By |2025-02-03T08:13:47+02:00February 3, 2025|Forex News, News|0 Comments

The GBPJPY pair provided more negative closings recently below 194.10 barrier, hinting its surrender to the domination of the bearish bias to notice crawling towards 190.20 this morning and record some negative targets mentioned in our previous report.

 

Note that the negative momentum coming by the major indicators will increase the chances of attacking 189.50 support line, while breaking it will confirm its preparation to resume the negative attack until reaching 188.15 followed by reaching the next support at 187.55.

 

The expected trading range for today is between 189.50 and 192.00

 

Trend forecast: Bearish



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3 02, 2025

BitLab Academy Director Says XRP to $10,000 is Ridiculous: Here’s Why

By |2025-02-03T08:09:51+02:00February 3, 2025|Crypto News, News|0 Comments

Amid widespread speculations, BitLab Academy Director Kellam believes the XRP to $10,000 price predictions are ridiculous.

As XRP continues its bullish run following Donald Trump’s victory in the U.S. presidential election, ambitious price predictions have surfaced. 

Some analysts see XRP reaching staggering heights, with a few even expecting an ambitious $10,000 price. However, this prediction has been largely controversial, with multiple market commentators calling it unrealistic.  

Kelly Kellam Dismisses $10,000 XRP as Unrealistic  

BitLab Academy Director Kelly Kellam is one of the latest figures to criticize the idea of XRP reaching $10,000. He believes such projections are completely irrational. According to him, anyone convinced that XRP will hit this level would be better off donating their money to charity.  

Kellam emphasized that XRP will likely experience a strong uptrend in this cycle, but a valuation of $10,000 per token is out of the question. He pointed out that such a price would require an astronomical market capitalization of around $577 trillion, even before considering inflation. 

In his view, a price range between $6 and $10 is much more reasonable. Under extreme bullish conditions, he believes XRP could reach $20, and in the event of an overwhelming supercycle, it could push to $30. However, anything beyond that is highly improbable.  

In fact, Kellam is so skeptical of the $10,000 price prediction that he suggests blocking anyone who promotes such claims.

A Bold Prediction 

For context, Kellam’s remarks came in response to a post by Crypto Sensei, the founder of Cryptonairz and one of the individuals who believe an XRP to $10,000 prediction is feasible. 

In one of his latest disclosures, Sensei claimed that XRP is set to hit $10,000, backing his argument with a diagram showcasing Ripple’s numerous partnerships and projects. He implied that XRP’s widespread adoption would drive its value to such levels.

Other Analysts Express Doubt

However, his projection has faced intense opposition from Kellam and other market commentators, who found the claim unrealistic. A well-known crypto influencer, AltMom, noted she was optimistic about XRP but doubted its ability to reach $10,000. 

She asserted that for XRP to reach this level, it would need a trading volume of around $9.5 to $10 trillion. Meanwhile, according to her, even after accounting for all major markets, the total fluctuating volume currently stands at roughly $80 trillion.  

She also referenced BlackRock’s growing crypto fund, which has increased from $200 million to nearly $625 million since November. Even with bullish news from Trump, Grayscale, and China, the crypto influencer believes XRP hitting such an astronomical price is far-fetched. 

Instead, she predicts XRP will likely settle within the $8 to $13 range this cycle. If it fails to reach this level, she suggests that XRP holders may need to reconsider their expectations.  

In addition, Crypto Warehouse, another crypto influencer, highlighted a more conservative price target. He noted that since early 2023, he has maintained that XRP will likely reach between $5 and $7.

Now, given the current market conditions, Crypto Warehouse is confident that XRP will easily hit $5 and could trend toward $7 if bullish momentum continues. However, he does not believe XRP’s market cap can sustain much higher valuations. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



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3 02, 2025

The AUDUSD price surpasses the target – Forecast today

By |2025-02-03T07:10:45+02:00February 3, 2025|Forex News, News|0 Comments


Crude oil price opened today’s trading with sharp rise to touch 75.52$ level, and found solid resistance there, to rebound downwards strongly and reach 73.90$ level again, these mixed trades – affected by Trump decision to impose the tariffs on Canada and Mexico – make us prefer to continue with our neutrality until we get clearer signal for the next trend, to continue monitoring the price according to 73.90$ level.

 

Note that continuing to decline and breaking this level will push the price to resume the bearish track that its next target located at 72.30$, while consolidating above it will push the price to recover and visit 75.52$ again.

 

The expected trading range for today is between 72.40$ support and 75.60$ resistance

 

Trend forecast: Neutral





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3 02, 2025

Find Out All Solana’s Latest News Here

By |2025-02-03T06:08:20+02:00February 3, 2025|Crypto News, News|0 Comments

The cryptocurrency community has taken notice of Solana because of its quick transfers and inexpensive fees. Another new initiative, Remittix, is gaining traction as Solana News keeps highlighting its expansion. This cutting-edge network has the potential to revolutionize international money transfers by utilizing Solana‘s blockchain to facilitate quicker and more economical transactions.

Solana’s Market Position and Technological Edge

Solana has gained recognition as a leading blockchain network, valued for its rapid transaction processing and minimal costs. Its unique Proof of History (PoH) consensus mechanism sets it apart from competitors, enabling it to process thousands of transactions per second. However, Solana’s price has often moved in response to developments in the market and from government policy.

Solana’s price is anticipated to increase as a significant volume of institutional money moves into the platform, in part due to the ongoing creation of decentralized apps (dApps) on its blockchain. However, as the demand for SOL tokens grows, Solana’s growing institutional interest portends robust future expansion.

The dApp, NFT, and DeFi ecosystems for Solana are expanding quickly. As more projects join the Solana network, the demand for SOL tokens rises, which directly affects Solana’s price. Continuous scalability improvements are a top priority for Solana, one of Ethereum’s main rivals. The network is working with platforms like Magic Eden, which is helping to expand NFTs and drive up the cost of Solana as it continues to gain popularity. Despite its benefits, Solana has several disadvantages, including network outages, which the development team is attempting to resolve to increase system stability.

Remittix: The Next Big Innovation in Blockchain Remittances

A new coin called Remittix is attracting attention due to its ability to upend the global remittance market. This coin eliminates traditional remittance services’ astronomical fees and protracted processing times by using Solana’s blockchain to deliver rapid, secure, and affordable cross-border transfers.

The decentralized structure of the network guarantees that users can transmit money across borders effectively and with increased security. The need for SOL tokens will probably increase as more people utilize Remittix to send money internationally, which will drive up the price of Solana. Scalability and efficiency are ensured by Remittix’s integration with Solana’s blockchain, which makes it a useful addition to the cryptocurrency market.

Remittix functions on a peer-to-peer network, drastically lowering transfer costs in contrast to typical remittance systems that depend on banks and third-party intermediaries. Businesses that regularly deal across borders and migrant workers especially benefit from this innovation. Decentralized alternatives like Remittix offer a good substitute for traditional financial institutions under growing regulatory scrutiny, guaranteeing smooth and transparent money transfers throughout the globe. This coin is in a strong position to lead the financial services industry as demand for blockchain-based solutions grows.

A strong synergy is created by the partnership between Remittix and Solana. As Remittix expands and gains more users, Solana’s blockchain will be essential to handle the large volume of transactions; this increased use of Solana’s network is anticipated to raise demand for SOL tokens, which will raise the price of Solana.

This new coin is a very promising project in the blockchain industry because of its creative approach to remittances, which could also lead to a wave of adoption in the crypto space, increasing awareness of Solana and possibly raising its price. Traders are placing bets on this synergy.

Remittix is well-positioned to benefit from the rising demand for reasonably priced and effective remittance services as the price of Solana keeps rising in tandem with the demand for SOL tokens. It is poised to transform the remittance sector with its cutting-edge blockchain-based solutions, offering consumers quicker, less expensive, and more secure transfers.

Conclusion

With expanding institutional investor interest and acceptance, Solana’s price appears to have a bright future. In the meantime, Remittix offers traders and investors a special chance since it wants to use Solana‘s blockchain to transform the remittance sector. High returns are still possible because both projects are expected to grow further.

Discover the future of PayFi with Remittix by checking out their presale here:

Website: https://remittix.io/ 

Socials: https://linktr.ee/remittix

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