by Penny Angeles-Tan | Sep 17, 2024 | Business
ETH price continues to decline. It is predicted that Ethereum’s decline is due to Trump’s assassination last week and the Fed’s interest rate announcement. Here is a more detailed analysis.
The current condition of Ethereum is considered worrying. The reason is, the ETH price continues to decline even though the prices of other crypto assets are “green”. The price of ETH is currently considered the lowest since 2021.
Let’s review together what the current condition of the Ethereum price chart is. Analysis of factors that influence the price of Ethereum will also be explained in this article.
Ethereum Decline Factors
Allegedly, the decline in ETH prices was due to the assassination attempt on former US president, Donald Trump, at the Trump International Golf Club in Florida.
This second assassination plot was recorded at the end of last week and affected the prices of BTC and ETH. Quoted from Decrypt, the price of ETH at that time immediately fell by around 4.2% to reach $2,315 on Monday in the European trading session.
Not only was it influenced by the second murder of Trump by the Secret Service, the fall in ETH prices was also due to anticipation of a monetary policy decision by the Fed this weekend. The Fed’s decision has made the crypto market a little anxious, especially towards the end of the third quarter of 2024.
The Fed is likely to cut interest rates so that DeFi returns are attractive enough to pay attention to. However, the focus is also on rebuilding the DeFi lending market on the Ethereum mainnet. This could be used as a pump against Ethereum’s poor performance price.
ETH Price Keeps Going Down
Currently, the ratio of ETH to BTC pairs is at 0.039. This ratio is considered the lowest since April 2021. This decline in performance was analyzed starting on July 24 because the ETH/BTC pair fell below the ETH price range line between May 21 and July 24.
Please note, the ETH/BTC pair is the price ratio of ETh and BTC. The pair shows how much BTC is needed to buy 1 ETH.
The price of ETH to USDT also experienced a decline. When this article was written on September 17, ETH had decreased by -0.39%. Currently, the price of ETH is $2,307.
It can be seen from the Ethereum price chart above that the ETH RSI indicator is also falling below 50. Ethereum’s RSI is at 43.24. This means that the selling pressure on ETH is much greater than the buying trend.
The MACD indicator also reflects something similar. It can be seen how the Ethereum MACD line drops from the boundary line. This makes ETH’s bearish trend inevitable.
Conclusion
The ETH price chart is indeed in a sad decline at the moment. However, this does not rule out the possibility that Ethereum could rise because price fluctuations in the crypto ecosystem are commonplace.
You can buy ETH when the price is decreasing like now. However, you must conduct a thorough analysis before investing. You can also learn how to buy ETH.
Bitrue can help you to carry out a detailed analysis of ETH. Bitrue also has an ETH to USD price converter feature to find out exactly how much this crypto asset is worth compared to the current dollar.
by Penny Angeles-Tan | Sep 17, 2024 | Business
Grayscale Investments introduces Grayscale XRP Trust. How does it affect the price of XRP? How does it benefit users? Check out the explanation below.
Grayscale Investments, a company known for its cryptocurrency-based products, has introduced the Grayscale XRP Trust. This product allows accredited investors to invest directly in XRP.
The XRP community, including Ripple CEO Brad Garlinghouse, has welcomed this move.
So, how does the Grayscale XRP Trust benefit users and impact the future of XRP in the crypto ecosystem? Understand in detail by reading this article to the end.
What is the Grayscale XRP Trust?
The Grayscale XRP Trust is an investment vehicle that allows investors, primarily institutional and accredited investors, to participate in the growth of XRP.
Think of it like a special container containing XRP. By purchasing shares in this trust, investors indirectly own a share of the XRP that is in the trust.
The launch of the XRP Trust by Grayscale is considered a significant step for the development of XRP. This shows increased investor confidence in this token and its future growth potential.
Garlinghouse also emphasized that XRP has the potential to attract interest from institutional and retail investors.
Why is the Grayscale XRP Trust Important?
There are several reasons why this project is very important, especially for users, one of which is because it makes it easier to access XRP. See the explanation below for more details.
1. Easy Access to XRP
Not all investors have the technical knowledge or infrastructure required to purchase and store XRP directly.
The Grayscale XRP Trust simplifies this process. Investors only need to purchase trust shares, and Grayscale will manage their XRP holdings.
2. Legitimacy and Trust
Grayscale is a well-known asset management company with a good reputation. By launching the XRP Trust, Grayscale provides additional legitimacy to XRP and attracts greater interest from institutional investors.
3. Growth Potential
XRP has great potential as an efficient cross-border payment tool. If XRP manages to reach this potential, the value of the XRP Trust could also potentially increase.
4. Portfolio Diversification
Investors can use the XRP Trust to diversify their investment portfolio. XRP offers a unique asset class with different profit potential than traditional assets.
Grayscale Plans to Turn XRP Trust Into an ETF
Grayscale has ambitions to turn the XRP Trust into a spot exchange-traded fund (ETF) in the future.
This is in line with steps that have been taken previously with their Bitcoin and Ethereum Trust products.
Impact of XRP Trust Launch on XRP Price
The launch of the Grayscale XRP Trust had little impact on XRP price. When this article was written, XRP had increased by +2.97% bringing the price to $0.5856. This increase is not a rare phenomenon due to the launch of a new project.
However, the existence of this project from Grayscale proves that XRP is indeed a strong digital asset that has received investment from large companies. So, don’t be surprised if buy XRP is something that should be taken into account for long-term investment.
Ripple CEO Optimistic about XRP’s Future
Brad Garlinghouse, CEO of Ripple, expressed optimism about the future of XRP. According to him, the approval of XRP in the United States will be a key factor in its global expansion.
Garlinghouse believes that with a clear roadmap, XRP will be able to attract the interest of investors from all over the world.
Apart from that, the benefits of the Grayscale XRP Trust are:
- Increased Liquidity: As more investors become interested in XRP through these trusts, XRP market liquidity will increase.2. Wider Adoption: The XRP Trust can accelerate the adoption of XRP among institutions and large investors.3. XRP Position Strengthening: XRP will be increasingly recognized as a serious digital asset with huge growth potential.4. Innovation Driver: The interest of institutional investors will encourage further development of the XRP ecosystem.
Challenges and Hope
Although Grayscale has plans to convert its XRP Trust into an ETF, this is still subject to approval from the SEC.
However, the XRP community remains optimistic that with a favorable court ruling for Ripple, the chances of getting this approval are greater.
Conclusion
That’s the explanation about Grayscale XRP Trust. Grayscale’s latest project with XRP is an important step in the development of XRP. With this trust, investors can invest directly in XRP.
Additionally, Grayscale’s plans to convert the trust into an ETF indicate greater growth potential in the future. Even though there are still challenges that need to be faced, optimism towards XRP continues to increase along with positive developments that occur.
You can access XRP as a crypto asset on the Bitrue website and learn how to buy XRP. There are various XRP pairs that you can check, such as XRP to USDT, BTC, ETH, to USDC. You can also do a price converter XRP to USD easily on Bitrue. That way, you don’t need to bother switching websites just to check how digital assets are priced in USD.
by Penny Angeles-Tan | Sep 16, 2024 | Discounts, Sales, and Giveaways
The Manila Hotel is ushering in the holiday season early with its Christmas Hamper early bird offer. From
September 16 to October 31, 2024, guests can enjoy a special 20% discount, a privilege reserved for our early bird shoppers, on thoughtfully assembled gift baskets brimming with festive treats and signature goodies.
This year’s hampers are a celebration of our rich cultural heritage, inspired by the Filipino salakot, a traditional headgear that adds a unique touch to our holiday celebrations. This limited offer gives patrons a head start on their holiday shopping, ensuring they can share the joy of the season with beautifully presented gifts that reflect our shared traditions.
Our Standard Hamper, priced at ₱2,304 (regularly ₱2,880), is a delightful mix of Bahay Kubo Gingerbread, Christmas Cookies, Fruitcake, Harana Pralines, Cashew Raisin Cluster, The Manila Hotel Facade Chocolate Bar, and a Santa with Bag Chocolate. It’s just one of the three exciting options we have for you.
The Deluxe Hamper, available for ₱5,504 (regularly ₱6,880), offers an elevated collection featuring Bahay Kubo Gingerbread, Pili Nut Pralines, Fruitcake, Food for the Gods, Mango Nut Cluster, Santa with Bag Chocolate, Christmas Cookies, Bugnay Wine (375 ml), and a Willy the Bear Stuffed Toy. It also includes a Regular Prestige Card for added perks.
Finally, the Premium Hamper, priced at ₱7,280 (regularly ₱9,100), is the ultimate indulgence, offering Harana Pralines, The Manila Hotel Facade Chocolate Bar, The Manila Hotel Blend Coffee Drip, Bugnay Wine (375 ml), Tablea (250 g), a Tsokolatera Pot with Wooden Whisk, The Manila Hotel Tumbler, Ilang-Ilang Notebook, Willy the Bear Keychain, Willy the Bear Stuffed Toy, and a Regular Prestige Card.
Pick-up of orders starts on November 1, 2024. For orders and inquiries, call Delicatessen at +632 8527-0011 or +632 5301-5500 local 1125, or email re************@************el.com.
Terms and conditions apply.
Per DTI Fair Trade Permit No. FTEB-201376 Series of 2024.
The Manila Hotel is situated next to kilometer zero (0), the starting point of the City of Manila, and is just a short walk away from the Philippines’ renowned landmarks: Rizal Park, Intramuros, and National Museums.
With a rich history, sophisticated ambiance, and top-notch service, The Manila Hotel is the preferred choice for esteemed guests. Since 1912, The Manila Hotel has consistently offered exceptional services and amenities for a truly unforgettable stay. It boasts over 500 well-appointed rooms and 22 function rooms, including three (3) ballrooms. Additionally, the hotel provides five-star relaxation and wellness experiences with the Manila Hotel Spa, adult and children’s pools, and the Manila Hotel Health Club.
The hotel is home to the Heritage Museum, which houses invaluable artifacts that recount its illustrious past. It also features an Art Gallery that provides a glimpse into the contemporary world through the distinct perspectives of various artists.
With six (6) dining outlets, The Manila Hotel offers a diverse culinary experience: Café Ilang-Ilang is a popular spot known for its extensive selection of international buffet delights; Champagne Room, with its elegant Old European-style fine dining, is hailed as the most romantic room in Manila and features European cuisine in a luxurious setting; Tap Room is an Old English pub-inspired outlet where guests can enjoy live music in the evenings; Lobby Lounge is ideal for casual dining, aperitifs, post-dinner drinks, or informal meetings; Red Jade is a fine dining restaurant offering authentic Chinese cuisine; and Delicatessen offers the hotel’s signature pastries, bread, chocolates, and pralines.
by Penny Angeles-Tan | Sep 12, 2024 | Business
Hamster Kombat has set a listing date of September 26. Read to the end of this article to understand how to take part in the Hamster Kombat airdrop and everything about the HMSTR listing at the end of September.
Hamster Kombat has set a listing date of September 26. Ahead of the listing, Hamster Kombat announced that it had reached 55,000,000 users on its Telegram channel.
This article covers everything you need to know to maximize your HMSTR airdrop revenue. Read to the end of this article to understand how to take part in the Hamster Kombat airdrop and everything about the HMSTR listing at the end of September.
Hamster Kombat Price Prediction After Listing
Hamster Kombat gained immense popularity. User enthusiasm for this game is still high today. Hamster Kombat is even expected to achieve success beyond the DOGS listing.
Not surprisingly, there are more than 150 million Hamster Kombat users, making Hamster Kombat the tap2earn game with the biggest income in the web3 industry. Its Telegram followers have increased to more than 55 million users.
Having failed to list several times according to the planned date, Listing Hamster Kombat finally set September 26 as the listing date as Bitrue also will be listing HMSTR/USDT market.
This news certainly makes fans of this hamster-themed game happy.
Following the official listing date announcement for Hamster Kombat, many price predictions emerged. It is estimated that the total supply of HMSTR tokens is 100,000,000,000.
Quoted from holder.io, with an average market capitalization of $785,000,000, the estimated price of the HMSTR token is $0.00785. So, the predicted value of the HMSTR token is between $0.007 and $0.01.
How Can You Participate in the Hamster Kombat Airdrop?
The Hamster Kombat airdrop will launch alongside the listing date on September 26th. After a lot of speculation and predictions about the requirements for taking part in the Hamster Kombat airdrop, finally, several points for taking part in this airdrop event have been released.
In the Airdrop tab, Hamster Kombat has set several tasks to get an airdrop. However, the amount of profit allocated from these tasks has not yet been announced.
Some of the tasks include passive income, earning tasks, friends, achievements, Telegram subscription, and keys.
Keys is a requirement that is a little surprising because the function of this feature was not announced since its initial appearance. To get more keys, you can play the Hamster Kombat Mini Game and other games at the Hamster Kombat Playground.
Cheating Detection with “Cheating is Bad”
It is rumored that there will be a lot of cheating at the airdrop event on September 26, until the launch of the Hamster Kombat mini-game so far, the Hamster Kombat developer has released the Cheating is Bad feature.
This feature will detect how players commit cheating or other unethical actions. Later, if a player is judged to have cheated, a badge will appear on his profile.
The badge will display a green tick which means the player’s account is being monitored. If fraud continues to be detected, the account can be suspended or blocked.
To celebrate the upcoming listing of Hamster Kombat (HMSTR), Bitrue is launching an exclusive airdrop giveaway. All users who complete trading or invitation tasks can receive HMSTR tokens worth up to 20 USDT
Conclusion
Those are the various things you need to know about the Hamster Kombat listing on September 26. With the listing approaching, keep playing the Hamster Kombat game to get more points and keys to maximize your airdrop earnings later.
Bitrue provides many leaked answers to various Hamster Kombat tasks, such as mini-games, daily combos, to daily chips. So, don’t forget to access it blog Bitrue to read the article about Hamster Kombat.
by Penny Angeles-Tan | Sep 11, 2024 | Business
On-chain analyst Ali Martinez has recently issued an important warning regarding the current Bitcoin market conditions. Based on a two-month chart analysis, the TD Sequential indicator, commonly used to identify potential turning points in market trends, shows concerning sell signals. This signal suggests a possible reversal from the bullish trend that has recently strengthened. This warning comes amidst ongoing uncertainty in the crypto market, where sharp price fluctuations have become commonplace.
Martinez explains that the $51,000 support level is critical for investors to watch. If Bitcoin falls below this level, there is a significant risk that the price could continue to decline, potentially reaching $40,600. Such a decline could result in substantial losses for investors who have not taken preemptive measures. This prediction underscores the importance of the $51,000 support level in maintaining Bitcoin’s price stability and highlights that the crypto market remains highly volatile and susceptible to drastic changes. Martinez advises investors to remain vigilant and consider the risks associated with the current market uncertainty.
A drop below this support level could have a significant impact on Bitcoin (BTC) and potentially affect the broader crypto market. If BTC fails to maintain this critical support level, increased selling pressure could lead to further declines, not only impacting Bitcoin’s price but also potentially causing a domino effect on other crypto assets. This impact could create instability across the market, reduce investor confidence, and trigger panic selling.
Currently, Bitcoin is trading at $54,630, reflecting a 3.54% decrease over the last 24 hours, according to CoinMarketCap data. This price drop reflects market concerns about Bitcoin’s ability to hold its key support level. The high volatility and negative sentiment surrounding this price drop emphasize the need for caution among investors. Given the potential widespread impact of this decline, it is crucial for market participants to closely monitor price movements and market sentiment in the coming days.
CryptoPotato reports that over the last five trading days, the crypto market experienced a massive outflow of $277.2 million. This situation has further exacerbated the market’s existing pressures. The outflow reflects investor concerns and uncertainties, leading them to withdraw their funds from the crypto market. Despite various influencing factors, the sheer volume of this outflow indicates a significant lack of confidence in the current market stability.
Interestingly, this event occurred despite September 2 being a national holiday in the United States. National holidays are generally expected to provide some respite from market pressures, but this time, the situation was different. The large outflow still occurred, signaling that investor uncertainty and concerns are not limited by regular trading days. This highlights the fragility of current market sentiment and how global factors can influence investment decisions even during trading activity breaks.
Overall, this report underscores the importance of understanding market dynamics and factors that can influence short-term price movements. Market participants need to stay alert and be prepared for potential volatility resulting from these massive outflows. It also serves as a reminder for investors to continuously monitor the latest developments and make investment decisions based on thorough analysis.
During this period, investors made substantial withdrawals in several days. On Tuesday, they withdrew $287.8 million, followed by $37.2 million on Wednesday. Withdrawals continued with $211.1 million on Thursday and reached $170 million on Friday. Among the entities affected, FBTC Fidelity recorded the largest losses, adding to the market’s existing burden.
The total outflow during this period reached a significant $706.1 million, extending the negative streak to eight consecutive days. This is the longest recorded period of decline, indicating deep concerns among investors and impacting the overall market stability. The continuous withdrawal trend reflects widespread uncertainty and the potential long-term impact on the dynamics of the crypto market.
For novice traders looking to start investing in Bitcoin, now might be an opportune time. You can track Bitcoin prices through the Nanovest app, which offers a comprehensive selection of crypto assets. Nanovest provides up to 600 crypto asset options and allows investors to start with a small capital of just 5,000 rupiah.
If you’re interested in crypto asset investment, Nanovest could be a suitable choice as it offers over 2,000 U.S. stocks and more than 600 crypto assets. Take advantage of the current market movement by investing through Nanovest! For those interested in using Nanovest, the app is available on both the Play Store and the App Store.
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