Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In the last 24 hours, Cardano (ADA) trading volume has skyrocketed by 145%, signaling increased activity among traders.
According to CoinMarketCap data, Cardano’s trading volume came to $1.26 billion in the last 24 hours, representing a 145% surge. The rise in trading volumes follows a major market sell-off at the start of the week, which saw Cardano drop by up to 10%.
Cryptocurrencies recorded nearly $860 million in liquidations on Monday as traders took profits ahead of this year’s first Federal Open Market Committee meeting in the U.S. Cardano dipped to lows of $0.8565 in today’s session, extending Sunday’s drop before slightly rebounding.
Related
At the time of writing, ADA was trading at $0.921, albeit still down 7.03% in the last 24 hours. Cardano is making another push for the $1 mark after earlier falling below it.
Cardano price action
Cardano started declining after reaching highs of $1.16 on Jan. 17. The declines extended, with Cardano dropping below the daily SMA 50 at $0.985, where prices have stagnated since Jan. 20.
For Cardano to regain the $1 level, it will need to overcome the daily SMA 50 at $0.985. A sustained increase in trading volume, coupled with bullish sentiment, could pave the way for a breakout. However, ADA’s ability to maintain its momentum might depend on several factors, including the overall recovery of the cryptocurrency market.
Related
If the ADA price reclaims $1, the $1.16 level may become the next target. Bulls will need to push and hold the price above this level to mark the start of an upward move to $1.33. On the downside, a drop below current price levels might see a drop to $0.76.
Expectations are in place for the Plomin mainnet hard fork governance action, which is expected to be enacted on Jan. 29, 2025.
During my daily analysis on Monday, the first thing that captures my attention is the fact that the US dollar has been beaten up quite significantly by multiple currencies.
At this point I think you have a situation where the relief rally and currencies like the euro will have come close to running their course.
After all, we have a market that’s in a downtrend for reason, and we could find even more reasons by the time we get through this week.
Central Banks
Keep in mind that the Federal Reserve meets on Wednesday and then releases its interest rate statement, while the European Central Bank releases its announcement on Thursday. In other words, I expect this pair to be extraordinarily volatile, but at the end of the day we already know that the Europeans are going to be cutting rates, but the Federal Reserve is expected to hold. The question at this point will be what happens at the press conferences for both of those central banks and their outlook. I think ultimately, the US dollar is probably the “default winner”, as we continue to see more inflows into the United States, and also at the same time see the European union look very sluggish, only slight signs of hope coming out of Germany as far as growth is concerned.
Ultimately, we have been in a downtrend for a while, and therefore we have to pay close attention to the idea that we are still suffering at the hands of a lot of “risk off behavior” in general, and therefore I think we’ve got a situation where this rally could end up being a nice selling opportunity, and I think a lot of people will be paying close attention to it. Underneath, the 1.03 level is an area that I would anticipate seeing a lot of support, and I do think that we could eventually revisit that area.
On the other hand, if we were to break to the upside, the 1.06 level is a major area of resistance, and if we were to break above there, then we could see an overall change in the attitude, but until we get above the 1.06 level on a daily close, I’m not necessarily convinced by any euro strength.
XRP is making headlines after the SEC’s recent legal setback, with questions about whether it could rally 10X by 2025.
The buzz comes from XRP’s increasing use cases and the possibility of regulatory clarity boosting investor interest.
Meanwhile, PlutoChain ($PLUTO) could emerge as a potential solution to Bitcoin’s constant transaction challenges.
By bringing advanced Layer-2 technology, it could improve Bitcoin’s scalability and streamline its functionality, potentially making the network more efficient and adaptable.
First, let’s look at XRP’s price prediction.
XRP Price Prediction – Does Technical Analysis Support a 10X Rally?
XRP has recently garnered significant attention, especially after the SEC’s legal setback, leading to discussions about its potential to rally 10X by 2025 – and as of January 24, 2025, XRP is trading around $3.14.
XRP’s technical analysis points to a bullish outlook, with a bull pennant pattern suggesting a potential 50% rally toward $4.66.
The price is supported by strong fundamentals, trading above its 50-day and 200-day moving averages, with a golden cross reinforcing the uptrend.
The RSI indicates bullish momentum without being overbought, leaving room for further gains.
If the breakout is confirmed with high volume, XRP could reach this target, but traders should remain cautious of potential reversals.
Additionally, market analyst CryptoWZRD points out that XRP often forms wedge patterns, with the current falling wedge potentially pushing XRP to a new all-time high.
Price predictions for XRP in 2025 vary among analysts – some predictions suggest an average price between $1.80 and $8.40, with optimistic scenarios envisioning even higher valuations.
Given XRP’s current price of $3.14, achieving a 10X increase would mean reaching approximately $31.40, which is notably higher than most current projections.
While XRP’s recent legal victories and bullish technical indicators contribute to a positive outlook, a 10X rally by 2025 would require unprecedented growth.
Investors should consider these factors alongside broader market conditions when evaluating XRP’s future potential.
In the meantime, let’s shift our focus to another promising project.
PlutoChain Could Expand Bitcoin’s Capabilities in Areas Such as DeFi and Beyond
PlutoChain ($PLUTO) could attract attention with its potential to expand Bitcoin’s functionality by integrating DeFi, NFTs, and AI-powered applications into its network.
It might offer an appealing platform for users and developers exploring innovative solutions.
PlutoChain might maintain Bitcoin’s original security standards while expanding its capabilities.
Its EVM compatibility could be a significant feature, possibly enabling Ethereum-based applications to migrate and operate on Bitcoin’s network seamlessly.
This feature might address some of the interoperability challenges in the blockchain field.
From a technical perspective, PlutoChain shows promise with its capacity to handle up to 43,200 transactions daily and block times as fast as 2 seconds.
Such scalability and speed suggest it has the infrastructure to support high-demand use cases.
These technical strengths are further supported by successful audits from firms like SolidProof, QuillAudits, and Assure DeFi, which could help bolster trust in its security measures.
The platform’s governance model emphasizes decentralized decision-making, combined with its advanced technical infrastructure.
This mix of technology and governance could position it as a notable contender in the Layer-2 sphere that could explore new ways Bitcoin could be used beyond its role as a store of value.
These attributes collectively suggest that PlutoChain may garner interest in the coming weeks, especially among those closely watching developments in blockchain technology.
Final Thoughts
XRP’s chances of a 10X rally by 2025 seem to be increasing, especially after Trump’s recent inauguration influencing the market.
With growing adoption, strong community backing, and the potential for regulatory clarity, XRP might just have what it takes to hit this ambitious goal.
On the other hand, PlutoChain ($PLUTO) could improve Bitcoin’s capabilities with its hybrid Layer-2 solution.
By potentially bringing features like DeFi, NFTs, and decentralized governance into the Bitcoins network, PlutoChain could open up exciting possibilities for the blockchain sector.
______________________
This article is not financial advice. Past results are not indicative of future returns, and the crypto market is inherently unpredictable. Readers must conduct their own thorough research before purchasing any crypto coin or token. These forward-looking statements are subject to risks and may remain unchanged.
There was a potential support zone identified from 3.70 to 3.64. The drop today exceeded the low of the range but the close could be within it. Nevertheless, although there is a chance that the support zone may hold and lead to a bounce, it looks like lower trend support levels may be tested before the retracement is complete. Today may be the beginning of a realignment of the angle of ascent that natural gas has been on since last August’s swing low.
If there is bearish follow-through then the price area around the 50-Day MA looks likely to be hit. The 50-Day line is currently at 3.49 and it is part of the price range from 3.52 to 3.49. The 61.8% Fibonacci retracement level is at 3.51 and there is an 127.2% extended target for a falling ABCD pattern at 3.52.
Double Top with Two Bearish Reversal Days
It looks like the two wide range red candles near the two recent highs on January 13 and 17 were sending a warning for an interim top. Together they formed a double top pattern with a confirmed breakdown triggered today. The pattern is not perfect given the short rally from last Wednesday’s low. However, it provides another piece of bearish technical evidence for a deeper correction given today’s break below trend support.
Below 50-Day MA Could See 3.38 Area
Nonetheless, if support fails to hold at or above the 50-Day MA, lower potential support levels may be tested. There is a prior swing high at 3.39, and the 78.6% retracement level is at 3.28. Also, an internal trendline showing potential dynamic support would need to be considered as well. The above bearish scenario might start to shift if natural gas can reclaim the 20-Day line and today’s high at 3.83 and then stay there.
For a look at all of today’s economic events, check out our economic calendar.
You can see that initially the British Pound did pull back a bit against the Japanese Yen during trading on Friday, but then shot much higher after PMI numbers in the United Kingdom came out hotter than anticipated.
This is good for the British Pound, and we have seen the British Pound outperform most currencies during the trading session as you would expect.
The 195 yen level is an area that’s been a bit of a barrier in the past. So, it’ll be interesting to see how we behave once we get there. If we can break above that level and go looking to the 200 yen level, I expect a major fight. The bank of Japan overnight did raise rates, but they made it sound like they’re pretty neutral at this point. And if that’s going to be the case, that means the interest rate differential and the carry trade will still be a thing. As long as that ends up working out in favor of traders, then I just don’t see how anything other than upward momentum against the yen is seen by most currencies.
I Won’t Be Shorting Very Soon
I have no interest whatsoever in getting too cute with this, but I do recognize that a short-term pullback might be what you’re looking for, for a little bit of a buying opportunity. I also believe that the British pound, although much stronger than the Japanese yen may lose a little bit of momentum. So, we may see more of a grind to the upside than anything else. I do not expect anything other than consolidation between 190 yen on the bottom and 200 yen on the top, at least as far as I can reasonably look to the future. With this, I am neutral and positive more than anything else. Tactical short-term trades are probably the way forward.
TopGum Industries, Ltd. (TASE: TPGM), a global leader in the development and manufacturing of gummy supplements, announces it has acquired Island Abbey Nutritionals, a leading CDMO specializing in supplement gummies and lozenges, located in Prince Edward Island, Canada. This strategic acquisition significantly expands TopGum’s manufacturing and technological capabilities, strengthening its position as a leading global provider of innovative gummy supplements.
The transformative acquisition marks a major milestone in TopGum’s journey to revolutionize the dietary supplement industry. It serves as a cornerstone in TopGum’s strategy to drive the growth of the “Enjoyables” supplement segment through organic expansion and strategic acquisitions. The transaction is expected to propel TopGum’s annual revenue run-rate beyond USD100 million, further solidifying its position as the partner of choice to Tier-1 brands and customers worldwide.
Island Abbey’s Pioneering Innovation
Founded in 2004, Island Abbey has established itself as a leader in gummy and lozenge delivery formats for dietary supplements. Under the leadership of CEO Dean Williams, it recorded remarkable growth in recent years, driven by its R&D and operational excellence.
Island Abbey operates a state-of-the-art facility spanning 65,000 ft², in which tens of millions of dollars were invested in the last couple of years. Equipped with advanced manufacturing technologies, including starchless depositing, center-fill capabilities, and automated bottling and packaging lines, the facility adheres to stringent quality standards such as FDA, NSF, GMP, SQF, and Health Canada certifications.
Strategic Synergies
The acquisition bolsters TopGum’s strategic focus to deepen its foothold in the US market. By integrating Island Abbey’s advanced capabilities, TopGum will establish an integrated supply chain with production, bottling and warehousing capabilities across two continents. The combined expertise and expanded capacity will enable TopGum to meet increasing global demand for high-quality, differentiated gummy supplements — delivering exceptional taste and reliability to its partners.
Opening New Horizons
“Island Abbey brings a unique combination of strategic customers, advanced technologies, and a professional, experienced team,” says Eyal Shohat, CEO of TopGum. “Together with TopGum’s longstanding expertise, this partnership opens new horizons for innovation and growth. Our combined teams will continue to develop advanced solutions that deliver a wellness experience that is fun, easy, and tasty. We are reinforcing our commitment to our business partners and customers worldwide as we embark on this exciting new chapter in TopGum’s global growth story.”
As part of the transaction, Island Abbey will maintain its operational independence while leveraging TopGum’s global reach and resources. Island Abbey’s 95 employees will remain in place, led by CEO Dean Williams, a veteran of the consumer goods and nutritional supplement industries. Williams will be joining TopGum’s Executive Leadership team.
“I’m honored to be part of this pivotal moment for Island Abbey,” notes Dean Williams, CEO of Island Abbey. “This acquisition reflects our success in advancing supplement solutions across Canada and the US. The combination of these two entities is poised to redefine the gummy supplement market.”
A Vision for Growth and Innovation
“We are deeply impressed by Island Abbey’s journey, particularly under Dean’s leadership”, expresses Hagai Stadler, Chairman of TopGum. “We are proud to welcome Island Abbey to the TopGum family. Together, we will build on Island Abbey’s legacy and create a vital component of TopGum’s mission to become a dominant global player in the supplement industry.”
Stadler adds: “This acquisition is a steppingstone to realizing our vision of leading the gummy supplement revolution. I extend my gratitude to the shareholders of Island Abbey for their trust, and to everyone involved in executing this transaction.”
Transaction Details
TopGum will pay USD20 million plus an earn out payment based on Island Abbey’s 2025 results. The transaction is expected to close in Q1 2025, pending all required regulatory and third-party business approvals.
About TopGum
TopGum Industries, Ltd. is a disruptive, industry-leading company specializing in the development and manufacturing of functional gummy supplements. Founded in 2004, the company has earned global recognition for integrating science, technology, and exceptional organoleptic profiles to produce gummies that deliver health benefits while offering superior taste and texture.
With advanced R&D capabilities and cutting-edge manufacturing, TopGum excels in creating innovative solutions that set industry standards – including its fiber based Gummiceuticals™, TopCaps™ micro-encapsulation technology, and high dosage of active ingredients. TopGum’s high-quality functional gummy portfolio reflects years of intensive R&D and investment in a state-of-the-art manufacturing facility.
The company provides bespoke gummies to some of the world’s largest brands in the dietary supplement industry in more than 20 countries.
Committed to clean-label formulations, TopGum specializes in plant-based, non-GMO, and allergen-free gummies, catering to the growing demand for sustainable and natural products.
Headquartered in Israel, TopGum employs over 250 professionals, including leading food technologists, pharmaceutical engineers, and chemists. The company is listed on the Tel Aviv Stock Exchange (TASE) and is jointly owned by AP Partners, Discount Capital, Arkin Investments, Chai Hayon, and Roi Lusternik.
Solana dropped to $225 below its major support price of $232 during the Jan. 27 trading day and lost 12% in value within 24 hours. Solana’s total market worth is $109.85 billion, and trading activity jumped by 75% to $7.49 billion in just one day. The market reaction shows both bull-minded traders boosting their positions while investors try to sell fast because of ongoing market instability.
SOLUSD 1-day chart
After staying steady for one week, SOL experienced a sudden drop as traders neared the $255 resistance level. Technical researchers believe SOL may start moving in the opposite market direction soon. Based on current market trends, crypto expert Ali Martinez believes Solana will likely jump 20% when it keeps clearing above $251-$262 per hour.
The Moving Average Convergence Divergence indicator shows that a positive relationship between its lines is developing, thus prompting a change of direction in market sentiment. In past moments, such trading crossovers signaled market uptrend support, so buyers may view this as a chance to act.
The market shows signs of moving against rising prices. The Accumulation/Distribution line shows a downward move in the daily chart because sellers have started dominating buyers. The Relative Strength Index indicates a bear market approaching because it shows rapid falls from its neutral position of 50.
Investors see conflicting signals from multiple technical measures that suggest a shakeup for the Solana market. The market remains unpredictable, but a recovery is likely if positive trading indicators strengthen their performance. Market participants must watch critical technical markers and trading tools for market direction updates.
When it holds this essential support line, SOL could start a significant market gain. Market analysts predict this price stabilization will restore trader faith, driving SOL further.
Different issues caused Solana’s recent price drop. The complex regulatory rules for cryptocurrencies have caused investors to remain uncertain about market prospects. The cryptocurrency exchange BitMEX co-founder Arthur Hayes believes a smaller financial crisis will affect digital money markets.
Hayes expects Bitcoin’s price to fall between $70,000 and $75,000 before rising again as the Federal Reserve begins its money printing program. He says the entire crypto market could reach a total value of $250,000 before the year ends. A potential analysis shows the Solana downturn may represent only a short-term challenge.
Solana’s value took a hit because it connects to the controversial TRUMP meme coin release. Despite community laughter at its satire of crypto industry norms, the BBC covers positive and negative crypto reactions to this new coin.
The daily chart shows recent bearish price action in Solana, yet sustained strength at larger one-week scales suggests that the negative market mood is a short-term challenge. Our research shows that Solana maintains strength even when market activities become unpredictable.
Historical data underscores this point. After hitting its all-time high at $295, Solana experienced a sudden market drop that stabilized at $168. Researchers trust that because of strong user support, the project will continue until 2025.
Solana uses its robust network support and develops artificial intelligence strategies to grow its platform. The blockchain’s AI Agent developments make it ready to benefit from AI’s expanding role within cryptocurrency markets, which companies and analysts have observed in recent months. The cryptocurrency market uptrend and community support should push Solana’s price up to $300 to $350 by 2025.
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.03%
0.07%
-0.68%
0.20%
0.58%
0.48%
-0.48%
EUR
0.03%
0.17%
-0.54%
0.37%
0.62%
0.63%
-0.35%
GBP
-0.07%
-0.17%
-1.00%
0.20%
0.45%
0.48%
-0.51%
JPY
0.68%
0.54%
1.00%
0.94%
1.46%
1.41%
0.36%
CAD
-0.20%
-0.37%
-0.20%
-0.94%
0.18%
0.28%
-0.71%
AUD
-0.58%
-0.62%
-0.45%
-1.46%
-0.18%
0.05%
-0.92%
NZD
-0.48%
-0.63%
-0.48%
-1.41%
-0.28%
-0.05%
-1.20%
CHF
0.48%
0.35%
0.51%
-0.36%
0.71%
0.92%
1.20%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Tea is not just a drink but a cultural phenomenon all across the globe
Image: Unsplash
Here, let’s take a look at interesting facts about chai
Image: Unsplash
Tea is one of the world’s oldest beverages and most popular after water
Image: Unsplash
Records suggest that tea had originated in northeast India, north Myanmar and in southwest China
Image: Unsplash
There is evidence that tea was consumed in China some 5,000 years ago
Image: Unsplash
Tea plantations provide employment to millions of growers and tea estate workers worldwide
Image: Unsplash
While more than half of the tea produced is consumed locally, it is widely traded and exported
Image: Unsplash
Over the years, the tea industry worldwide has seen rapid growth
Image: Unsplash
There are many health benefits linked to drinking tea. Tea is believed to be anti-inflammatory, an antioxidant and green tea is known to be good for weight loss
Image: Unsplash
Tea is a beverage made from the Camellia sinesis plant
Bitcoin price edges below $100,000 support on Monday after hitting a new all-time high of $109,588 the previous week.
The recent price decline has triggered a wave of liquidations across the crypto market, resulting in $860.55 million in total liquidations in the last 24 hours.
The technical outlook suggests a further correction towards $90,000 as momentum indicators show bearish signals.
Bitcoin (BTC) edges below $100,000 support and falls nearly 4% at the time of writing on Monday after hitting a new all-time high of $109,588 the previous week. The recent price decline has triggered a wave of liquidations across the crypto market, resulting in $860.55 million in total liquidations in the last 24 hours.
Moreover, the technical outlook suggests a further correction towards $90,000 as momentum indicators show bearish signals.
Bitcoin price fails to maintain upward momentum
Bitcoin price trades in the red, falling below $99,000 on Monday after hitting a new all-time high (ATH) of $109,588 the previous week. This price correction triggered a wave of liquidations across the crypto market, resulting in $860.55 million in total liquidations in the last 24 hours, almost $260 million specifically in BTC, according to data from CoinGlass.
Liquidation Heatmap chart. Source: Coinglass
Bitcoin liquidation chart. Source: Coinglass
On-chain data provider Santiments’ Network Realized Profit/Loss (NPL) shows massive spikes in Bitcoin.
This metric computes a daily network-level Return On Investment (ROI) based on the coin’s on-chain transaction volume. Simply put, it is used to measure market pain. Strong spikes in a coin’s NPL indicate that its holders are, on average, selling their bags at a significant profit and increasing the selling pressure. On the other hand, strong dips imply that the coin’s holders are, on average, realizing losses, suggesting panic sell-offs and investor capitulation.
In Bitcoin’s case, the metric rose from 1.55 billion on January 21 to 4.82 billion on January 23, as BTC hit new highs last week. A similar spike was seen in BTC on December 17 and 19, after which the prices declined almost 14% in the next four days. If history repeats, BTC could experience a similar price dip.
Another bearish sign is Coinglass’s Bitcoin long-to-short ratio, which reads 0.89, the lowest level over a month. This ratio below one reflects bearish sentiment in the markets as more traders are betting for Bitcoin prices to fall.
Bitcoin long-to-short ratio chart. Source: Santiment
Bitcoin could expect volatility as Fed interest rate decision approach this week
The US Federal Reserve’s (Fed) interest rate decision on Wednesday could bring volatility for risky assets like Bitcoin.
Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank Ltd, posted on Monday that “The Fed is set for an almost certain no action as the Fed members will certainly want to consider the risks to inflation posed by Donald Trump’s various growth-boosting and trade-restricting policies.”
Ozkardeskaya further explained, “The US yields are softer this morning on news that Trump will not impose 25% tariffs on Colombia as he said he would a few hours before, but the dollar index kicks off the week with a rebound above the 50-DMA. Despite Trump’s willingness to push the Fed for unnecessary rate cuts to boost the economy, the US economy doesn’t necessarily need a boost”.
“The jobs number keep coming unexpectedly strong and growth remains robust thanks to solid consumer spending. The Q4 growth update for the US economy will be released on Thursday this week, and may show that the US economy grew 2.7% last quarter – slightly lower than 3.1% printed at the last update – but the price pressures may have increased from 1.9% to 2.5%. And the rising price pressures – while growth nears 3% – is certainly not favorable for further rate cuts,” said the analyst.
Additionally, Kathleen Brooks, Research Director at XTB UK, posted that “all eyes will be on how Fed chair Jerome Powell will react to Donald Trump’s call for the Fed to cut interest rates. With the Fed expected to remain on hold, they could find themselves in the middle of a political storm. The main event for financial markets is not just what the Fed does, it is also how Donald Trump reacts to it.”
A hawkish Fed often leads to higher interest rates, which makes US government bonds and other Dollar-denominated investments more attractive, thus making risky assets like Bitcoin less attractive.
Bitcoin Price Forecast: Bears aims for $90K mark
Bitcoin price reached a new all-time high (ATH) of $109,588 on January 20 but failed to maintain its upward momentum. BTC started declining slightly since Saturday and fell 2.22% until Sunday. At the time of writing on Monday, it continues to trade down, trading below its key support level of around $100,000.
If BTC closes below the $100,000 level on a daily basis, it could extend the decline to test its next key support around $90,000.
The Relative Strength Index (RSI) indicator on the daily chart reads 47, edging below its neutral level of 50, indicating a rise in bearish momentum. The Moving Average Convergence Divergence (MACD) indicator is also converging. If the MACD flips to a bearish crossover on a daily basis, it would give a sell signal and suggest a downtrend ahead.
BTC/USDT daily chart
However, if the $100,000 support level holds, it would extend the recovery to retest its ATH of $109,588.
Bitcoin, altcoins, stablecoins FAQs
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin’s market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
%20[12.32.23,%2027%20Jan,%202025]-638735715463697812.png)
