Accelerates – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Tue, 05 Aug 2025 23:46:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Accelerates – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Coinbase Stock Accelerates Dip As Crypto Exchange Announces $2,000,000,000 Debt Offering https://earlybirdsinvest.com/coinbase-stock-accelerates-dip-as-crypto-exchange-announces-2000000000-debt-offering/ https://earlybirdsinvest.com/coinbase-stock-accelerates-dip-as-crypto-exchange-announces-2000000000-debt-offering/#respond Tue, 05 Aug 2025 23:46:11 +0000 https://earlybirdsinvest.com/coinbase-stock-accelerates-dip-as-crypto-exchange-announces-2000000000-debt-offering/

The leading US-based crypto exchange by trading volume is experiencing a drop in stock value while it announces a $2 billion debt offering.

Today, Coinbase Global (COIN) announced plans to offer $2 billion in convertible senior notes through a private placement to qualified institutional buyers.

The offering, which is subject to market conditions, includes $1 billion in notes due by 2029 and another $1 billion due by 2032. Coinbase says it may also grant initial purchasers options to buy up to an additional $150 million of each series within 13 days of issuance.

Coinbase says the notes will be senior, unsecured obligations and will accrue interest that can be paid out semiannually.

The notes will be convertible into cash, shares of Coinbase’s Class A common stock, or a combination of the two funding options, at the company’s discretion. Terms such as interest rate and conversion rate are to be determined at pricing.

Coinbase also plans to enter into capped call transactions to mitigate potential dilution and offset excess cash payments upon conversion.

Proceeds from the offering are expected to support general corporate purposes, including capital expenditures and potential acquisitions.

Following the announcement, COIN has tumbled 4.9%, currently trading for $302.56, about 30% down from its all-time high.

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]]> https://earlybirdsinvest.com/coinbase-stock-accelerates-dip-as-crypto-exchange-announces-2000000000-debt-offering/feed/ 0 51687 Revolut Eyes Acquisition of US Bank Accelerates US License Bidding https://earlybirdsinvest.com/revolut-eyes-acquisition-of-us-bank-accelerates-us-license-bidding/ https://earlybirdsinvest.com/revolut-eyes-acquisition-of-us-bank-accelerates-us-license-bidding/#respond Wed, 30 Jul 2025 20:24:50 +0000 https://earlybirdsinvest.com/revolut-eyes-acquisition-of-us-bank-accelerates-us-license-bidding/

British Fintech and Neobank Revolut are considering acquiring US banks to accelerate their entry into the US market. According to a recent report by the Financial Times, published on July 30, 2025, Revolut is focusing on the acquisition of nationally chartered banks that already hold licenses.

If this is done, Revolut can skip the steps that often involve getting a bank license from scratch. By shortening the process of securing an independent banking charter, Revolut can simplify lending capabilities in the US market.

The report also shows that UK-based Neobank is considering applying for its own US banking license, instead of acquiring existing chartered institutions.

Revolut has been expanding the US market for some time. Currently, the largest financial market in the world, the US, is the largest financial market in the world, and is expected to increase deposits in contrast to the slowdown that many UK fintech companies are currently facing.

According to a report by the Financial Times, Trump’s push for deregulation has led investors and businesses to believe that the office of the money secretary will allow the bank’s charter process to be expanded.

As a result, Revolut carefully considers its options before making any concrete moves.

Explore: Top Solanamemme Coins to purchase in July 2025

Revolut is about to expand through the Latin American market, the Middle East

Revolut is reportedly currently in discussions about a funding round that will increase its valuation to around $65 billion, according to the Financial Times. The company will allocate some of the raised capital to promote future expansion plans.

Revolut has looked into similar acquisition opportunities in other regions as part of a broader expansion strategy, including plans to buy banks in the Middle East. Additionally, last month we confirmed the purchase of Argentine lender Seterem from BNP Paribas.

It also holds a banking license in Lithuania, which allows repetitive access to the European Union and Mexico, but the company has not yet acquired a banking license in the UK. The application was approved last year, but regulatory restrictions in the region continue to limit lending operations.

Explore: 10+ crypto tokens that can hit 1000X in 2025

Getting a US Bank License Rotating: You can restart Digital Asset Play

However, Revolut’s global ambitions go beyond traditional banks. The company already offers crypto trading across the UK and the European Economic Area (EEA), and last week resumed limited services in Hungary.

New Hungarian law requires crypto companies to secure domestic licenses and suspended early in the summer.

Revolut stopped encryption in the US in October 2023 amidst uncertainty from regulatory authorities. Now that perspective has changed, the pursuit of banking licensing could potentially clear the company’s path to deliver a wider range of services in the US, including digital assets.

However, it all depends on whether the application is approved or not.

Explore: Best New Cryptocurrencies to Invest in 2025

Key takeout

  • UK Neobank, Revolut repeats US nationally chartered banks to accelerate US license bidding

  • The United Arab Emirates and Latin America are part of Revolut’s global expansion strategy

  • Revolut is weighing the options and may consider applying for its own US banking license as an alternative

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]]> https://earlybirdsinvest.com/revolut-eyes-acquisition-of-us-bank-accelerates-us-license-bidding/feed/ 0 50555 Coinbase Premium Signals Aggressive Ethereum Accumulation: Institutional Demand Accelerates https://earlybirdsinvest.com/coinbase-premium-signals-aggressive-ethereum-accumulation-institutional-demand-accelerates/ https://earlybirdsinvest.com/coinbase-premium-signals-aggressive-ethereum-accumulation-institutional-demand-accelerates/#respond Fri, 18 Jul 2025 20:27:47 +0000 https://earlybirdsinvest.com/coinbase-premium-signals-aggressive-ethereum-accumulation-institutional-demand-accelerates/

Ethereum has surged more than 70% since mid-June, marking one of its most impressive rallies of the year. The move has been driven by strong momentum, with bulls firmly in control as ETH recently reclaimed the critical $3,500 level. Notably, the uptrend has shown little to no retracement since the initial breakout, signaling sustained buying interest and confidence among investors.

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One of the most striking developments supporting this move comes from CryptoQuant, which highlights the emergence of a significant premium on Ethereum traded through Coinbase. This is particularly noteworthy because Coinbase is a platform predominantly used by US institutions and high-net-worth individuals. The premium suggests aggressive spot buying by whales, indicating renewed institutional interest in Ethereum.

This renewed demand comes as the broader crypto market sees clearer regulatory signals and increasing ETF flows into ETH-related products. As Ethereum continues to outperform and attract capital, traders are watching closely to see if this momentum will carry into a broader altcoin rally—or even signal the start of a long-awaited altseason.

US Whales Lead the Charge as Ethereum Buying Activity Accelerates

According to a recent report by CryptoQuant analyst Crypto Dan, Ethereum is seeing a notable increase in buying activity, particularly from US-based whales. The steady rise in accumulation, combined with a clear premium on Coinbase, suggests that high-net-worth players are positioning themselves ahead of further upside.

Ethereum Coinbase Premium Gap | Source: CryptoQuant
Ethereum Coinbase Premium Gap | Source: CryptoQuant

Supporting this trend, daily inflows into Ethereum spot ETFs have surged to new all-time highs. This sharp spike reflects growing institutional confidence in ETH as a core digital asset, especially following recent regulatory clarity in the US. With Ethereum now trading above $3,600, demand continues to outpace supply across multiple channels.

What makes this rally especially interesting is the current market environment. On-chain metrics show that Ethereum is not yet significantly overheated. Indicators such as NUPL (Net Unrealized Profit/Loss) suggest room for further expansion before excessive euphoria sets in. This creates favorable conditions for ETH to consolidate at higher levels before potentially breaking out again.

However, the coming weeks will be crucial. If strong inflows and bullish momentum persist into late Q3 2025, analysts warn it could trigger signs of overheating. While we are not there yet, repeated vertical moves without retracement should prompt caution. Investors may need to reassess risk levels if the pattern continues.

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Ethereum Breaks Key Resistance With Strong Weekly Candle

Ethereum is currently trading at $3,620 with two days left before the weekly candle closes, up more than 21% so far. This ongoing rally has pushed ETH firmly above the $2,852 resistance level — a crucial zone that capped price action for months.

ETH showing strength in weekly chart | Source: ETHUSDT chart on TradingView
ETH showing strength in weekly chart | Source: ETHUSDT chart on TradingView

The move comes with high volume and follows a breakout above the 50-, 100-, and 200-week moving averages, now all reclaimed as support at $2,654, $2,664, and $2,430, respectively. With momentum accelerating and buyers clearly in control, market attention is shifting toward the next key resistance at $3,742, marked by the weekly wick high from December 2024.

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Although the candle has not yet closed, its current size and structure highlight growing bullish strength. This surge builds on Ethereum’s 70% rally from mid-June, suggesting that an expansion phase may be underway.

If ETH holds near or above current levels by Sunday, it would confirm one of the strongest weekly performances this year and potentially trigger further upside. Until then, traders are watching closely to assess whether this breakout can sustain its pace or if a near-term pullback is due after such an aggressive move.

Featured image from Dall-E, chart from TradingView

]]> https://earlybirdsinvest.com/coinbase-premium-signals-aggressive-ethereum-accumulation-institutional-demand-accelerates/feed/ 0 48397 As adoption accelerates, Bitcoin will hit a new total of $113,900 https://earlybirdsinvest.com/as-adoption-accelerates-bitcoin-will-hit-a-new-total-of-113900/ https://earlybirdsinvest.com/as-adoption-accelerates-bitcoin-will-hit-a-new-total-of-113900/#respond Fri, 11 Jul 2025 11:57:55 +0000 https://earlybirdsinvest.com/as-adoption-accelerates-bitcoin-will-hit-a-new-total-of-113900/

The day after yesterday, Ass, Bitcoin reached $112,000. Bitcoin officially reached its new all-time high (ATH) of $113,900 today, extending its bullish run that reignited in late June. Just 18 days ago, BTC was trading around $98,000. Today’s ATH highlights an accelerated global shift in viewing Bitcoin as both a value store and a strategic asset.

Meanwhile, Coinglass data shows that $50 million worth of Bitcoin shorts have been settled in the past few hours, with over $1.5 billion being set to be settled at $120,000. As Bitcoin continues its upward trajectory, it causes large short slants, forcing bearish traders to buy back at higher prices, further accelerating price action.

According to Polymarket, the world’s largest betting platform, the most likely result to have reached $115,000 by the end of July is 80% and 44% of the time, and the results could reach $120,000.

In an interview with Bloomberg, Federal Reserve member Christopher Waller is considering cutting interest rates this month, which could further increase the price of Bitcoin.

President Donald Trump, who has put heavy pressure on Fed Chairman Jerome Powell to cut interest rates, even asking Powell to step down and be investigated by Congress, has seen today’s Bitcoin price rise in his true social account, and stocks reach record highs. “crypto,” through the roof,” the president said. “The Fed needs to rapidly lower low rates to reflect this strength.”

Trump's post about his social explanation of truth.

Today, 99.85% of all Bitcoin addresses were reported to be profitable. That number reached 100% as Bitcoin was destroyed with new Time Highs above $113,900.

Since November 16, 2022, El Salvador has steadily purchased Bitcoin every day to prepare for the Ministry of Finance. Currently, the country has over 6,233 BTC in the Ministry of Finance. After today’s rising price movement, El Salvador’s Bitcoin reserve exceeded its $700 million worth.

]]> https://earlybirdsinvest.com/as-adoption-accelerates-bitcoin-will-hit-a-new-total-of-113900/feed/ 0 47022 Elon Musk’s X accelerates fintech pivot with plans for in-app payments and trading https://earlybirdsinvest.com/elon-musks-x-accelerates-fintech-pivot-with-plans-for-in-app-payments-and-trading/ https://earlybirdsinvest.com/elon-musks-x-accelerates-fintech-pivot-with-plans-for-in-app-payments-and-trading/#respond Fri, 20 Jun 2025 06:21:39 +0000 https://earlybirdsinvest.com/elon-musks-x-accelerates-fintech-pivot-with-plans-for-in-app-payments-and-trading/

X (formerly known as Twitter) is ramping up efforts to integrate financial services directly into its ecosystem and moving beyond its roots in social networking, the Financial Times reported on June 19.

According to the report, the social media giant is preparing to let users carry out a wide range of financial transactions within the app. This includes day-to-day payments like buying food or tipping content creators, as well as more advanced tools for investing and digital fund transfers.

X CEO Linda Yaccarino also confirmed that the company is exploring the launch of a branded debit or credit card by the end of the year.

Yaccarino, who took the helm in 2023 after Elon Musk acquired the social media platform, has overseen a period of rapid transformation.

Under her leadership, X has added capabilities such as AI tools, live video, audio calls, and the soon-to-launch XChat, an upgraded messaging system with encrypted communication and disappearing messages.

These changes have helped boost engagement, with usage metrics trending upward in recent quarters.

“Everything App”

These moves are part of a broader strategy to evolve X into an “everything app,” echoing Musk’s long-held vision of combining social media, entertainment, payments, and commerce under a single platform.

Meanwhile, the new financial features are expected to build upon earlier initiatives like X Money and a peer-to-peer payments system.

Notably, the Musk-owned platform has partnered with Visa to develop the X Money Account, a digital wallet that supports fund transfers and peer-to-peer payments.

X has obtained money transmitter licenses in over 4 US states and is registered with FinCEN to support its growing fintech stack. These regulatory moves give the company a green light to offer many types of financial services across major jurisdictions legally.

Crypto integration?

Despite this progress, it is unclear whether digital asset transactions will be part of the platform’s offerings.

This is surprising considering Musk has consistently expressed interest in crypto and some of his companies, like Tesla, hold Bitcoin on their balance sheets.

However, his social media platform has not confirmed plans to support crypto transactions. There is also no indication that the platform will launch a token, despite increased speculation from the community.

Still, many users expect X to embrace digital assets, given its tech-forward direction and Musk’s pro-crypto disposition.

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]]> https://earlybirdsinvest.com/elon-musks-x-accelerates-fintech-pivot-with-plans-for-in-app-payments-and-trading/feed/ 0 43049 Bitcoin On-Chain Warning: Short-Term Holder Selling Accelerates Amid Price Correction https://earlybirdsinvest.com/bitcoin-on-chain-warning-short-term-holder-selling-accelerates-amid-price-correction/ https://earlybirdsinvest.com/bitcoin-on-chain-warning-short-term-holder-selling-accelerates-amid-price-correction/#respond Tue, 10 Jun 2025 07:10:54 +0000 https://earlybirdsinvest.com/bitcoin-on-chain-warning-short-term-holder-selling-accelerates-amid-price-correction/

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As Bitcoin (BTC) came close to slumping below the psychologically important $100,000 mark last week, the short-term holders (STH) cohort started to show signs of weakening conviction in the leading cryptocurrency, raising fears of a deeper price correction.

Bitcoin STH Fear Resurfaces

According to a recent CryptoQuant Quicktake post by contributor Darkfost, Bitcoin STH’s net position has turned sharply negative over the past month. This has happened despite BTC holding above the $100,000 level.

For the uninitiated, Bitcoin STH are investors who have held their BTC for less than 155 days. They are generally more reactive to price volatility and market sentiment, often selling during corrections or uncertainty.

Specifically, a cumulative net position change of -833,000 BTC has been recorded among short-term holders during the ongoing pullback. By comparison, the April crash saw a net position change of around -977,000 BTC.

cq1
Source: CryptoQuant

Related Reading

Darkfost noted that current STH behavior closely resembles the activity observed during BTC’s brief drop below $80,000 in April 2025, when the digital asset bottomed out at $74,508. The analyst wrote:

Since then, STH appear to have become much more sensitive to market movements, and the recent dip around the $100,000 mark was enough to trigger renewed fear among this group of investors.

BTC Showing Signs of Reversal

Although BTC lost momentum after reaching its latest all-time high (ATH) of $111,814, the leading cryptocurrency regained strength over the weekend – indicating a possible reversal may be underway.

Related Reading

For example, seasoned crypto analyst Ali Martinez noted that BTC has broken through the key resistance level at $106,600. In a recent X post, Martinez predicted that Bitcoin could rally to $108,300 or even $110,000 if current momentum continues.

In a separate X post, fellow crypto analyst Rekt Capital shared the following Bitcoin daily chart, noting that the cryptocurrency not only broke out of its two-week downtrend – highlighted in light blue – but may now be turning that former resistance into a new support level.

rekt
Source: Rekt Capital on X

Meanwhile, several technical indicators also point to continued bullish momentum. Notably, Bitcoin’s Hash Ribbons have recently flashed a prime buying signal.

Additionally, on-chain data suggests that BTC could experience a sharp upward move in the short term, potentially driven by a negative funding rate on Binance. A prolonged period of negative funding rates often sets the stage for a short squeeze.

Despite the bullish outlook, some red flags remain. Recent data shows that long-term holders are gradually exiting the market, while an influx of retail investors could add volatility to the current rally. At press time, BTC trades at $107,627, up 1.9% in the past 24 hours.

bitcoin
BTC trades at $107,627 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash, charts from CryptoQuant, X, and TradingView.com

]]> https://earlybirdsinvest.com/bitcoin-on-chain-warning-short-term-holder-selling-accelerates-amid-price-correction/feed/ 0 41182 $380M In Ethereum Leaves Exchanges In 7 Days – Accumulation Trend Accelerates https://earlybirdsinvest.com/380m-in-ethereum-leaves-exchanges-in-7-days-accumulation-trend-accelerates/ https://earlybirdsinvest.com/380m-in-ethereum-leaves-exchanges-in-7-days-accumulation-trend-accelerates/#respond Sun, 04 May 2025 00:02:09 +0000 https://earlybirdsinvest.com/380m-in-ethereum-leaves-exchanges-in-7-days-accumulation-trend-accelerates/

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The highest standards in reporting and publishing

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Este artículo también está disponible en español.

Ethereum is trading just below the $2,000 mark, holding at critical levels as the broader market shows signs of recovery. After weeks of choppy price action and fading selling pressure, bulls are gradually regaining control, pushing ETH into a more bullish short-term structure. Momentum is building as Ethereum stabilizes above the $1,800 level, and technical indicators suggest a breakout may be forming.

Related Reading

Adding to the growing optimism, on-chain data from IntoTheBlock shows a consistent flow of ETH out of centralized exchanges—an indicator often associated with accumulation and reduced sell-side pressure. Over the past week alone, net outflows have exceeded $380 million worth of Ethereum, reinforcing the view that investors are preparing for a move higher.

Still, the key resistance at $2,000 remains a psychological and technical barrier. A confirmed push above this level could trigger a broader altcoin rally and signal the start of Ethereum’s next leg up. Until then, the market remains cautiously optimistic as bulls test the upper limits of this consolidation zone, looking for the momentum needed to escape it.

Ethereum Faces Critical Test Amid Accumulation Trend

Ethereum continues to face headwinds as it trades more than 55% below its December highs, hovering beneath the $2,000 resistance zone. While the broader crypto market shows signs of revival, ETH remains locked in a critical battle between supply overhead and renewed buying interest. The recent price structure shows some bullish development in lower time frames, as buyers attempt to build momentum. However, strong resistance levels still loom, and failure to break through could trigger a fresh move into lower demand zones around $1,700 or even $1,500.

Despite these technical challenges, on-chain data paints a more encouraging picture. According to IntoTheBlock, centralized exchanges have seen net Ethereum outflows of roughly $380 million over the last seven days. This steady reduction in exchange-held ETH suggests a growing trend of accumulation, often interpreted as investors moving coins to cold storage rather than preparing to sell. This behavior typically reduces sell-side pressure and can lay the groundwork for more sustainable rallies.

Ethereum Netflows Aggregated Exchanges | Source: IntoTheBlock on X
Ethereum Netflows Aggregated Exchanges | Source: IntoTheBlock on X

Market sentiment remains mixed. Some analysts argue that Ethereum is gearing up for a breakout, with shifting momentum hinting at an imminent surge. Others remain cautious, warning that macroeconomic uncertainty and fragile investor confidence could still pull ETH into a deeper correction. The coming days will be crucial in defining Ethereum’s trajectory.

Related Reading

ETH Price Analysis: Testing Key Resistance

Ethereum (ETH) is currently trading at $1,837 after several days of consolidation just below the $1,850 level. As seen in the daily chart, ETH has been attempting to form a short-term bullish structure after rebounding from April lows near $1,550. The price has steadily climbed but now faces significant resistance near $1,850—a level that has acted as both support and resistance in previous months.

ETH price testing key resistance levels | Source: ETHUSDT chart on TradingView
ETH price testing key resistance levels | Source: ETHUSDT chart on TradingView

Volume has been relatively stable but not convincingly high, indicating that bulls are gaining control but lack strong momentum to break through. The 200-day Simple Moving Average (SMA) at $2,271 and the 200-day Exponential Moving Average (EMA) at $2,456 remain distant overhead targets. These levels represent key longer-term resistance, and reclaiming them would be a major bullish signal.

Related Reading

For now, ETH must close decisively above $1,850 to validate this short-term trend reversal. A failure to do so may result in another retest of support around $1,700 or even lower, particularly if broader market sentiment shifts. However, the price holding above recent swing lows and forming higher lows signals that bullish pressure is building gradually. A breakout above $1,850 would open the door to a move toward the $2,000–$2,200 zone.

Featured image from Dall-E, chart from TradingView

]]> https://earlybirdsinvest.com/380m-in-ethereum-leaves-exchanges-in-7-days-accumulation-trend-accelerates/feed/ 0 34256 IDV Platform Veriff Accelerates Global Growth with Latin America Expansion https://earlybirdsinvest.com/idv-platform-veriff-accelerates-global-growth-with-latin-america-expansion/ https://earlybirdsinvest.com/idv-platform-veriff-accelerates-global-growth-with-latin-america-expansion/#respond Tue, 29 Apr 2025 18:20:52 +0000 https://earlybirdsinvest.com/idv-platform-veriff-accelerates-global-growth-with-latin-america-expansion/

Veriff, a global AI-native identity verification company powering trust infrastructure online, expands into Latin America with the opening of its Veriff Americas headquarters in São Paulo, Brazil. This strategic move follows a period of significant growth in the region, with Veriff experiencing more than a 2.5x increase in business volumes in Latin America over the past year.

The footprint expansion marks a significant step in Veriff’s global scaling strategy, extending its reach from established markets in the USA and EMEA to the growing Latin American market, with the Asia-Pacific (APAC) region also on the horizon.

Veriff continues to demonstrate strong financial performance, reporting over 80% year-over-year profitable revenue growth. In Q1’25, the company saw a 335% increase in total verification volumes, and its customer base has grown by 71% compared to last year.

“Veriff is in the strongest position ever – we are the fastest-growing company in the identity space with a solid balance sheet, and we are focusing on profitable growth,” stated Kaarel Kotkas, the Founder and CEO of Veriff. “In 2024, we already built great momentum to keep investing in our product portfolio expansion and continue taking new global markets. Establishing a technology hub in São Paulo is a strategic decision to best serve our global customer base in the Americas.”

“This thriving environment presents significant business opportunities for technology companies, and we’re excited to be part of it by helping businesses prevent fraud, comply with regulations, and protect their end-users,” said Andrea Rozenberg, Country Manager Brazil at Veriff.

With Sao Paulo becoming Veriff’s Center of Excellence in the Americas, the company is investing more than $3 million in the expansion in the region this year. Additional investments will continue over the next years.


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]]> https://earlybirdsinvest.com/idv-platform-veriff-accelerates-global-growth-with-latin-america-expansion/feed/ 0 33488 New Chainlink Addresses Hit Highest Levels Since January – LINK Network Growth Accelerates https://earlybirdsinvest.com/new-chainlink-addresses-hit-highest-levels-since-january-link-network-growth-accelerates/ https://earlybirdsinvest.com/new-chainlink-addresses-hit-highest-levels-since-january-link-network-growth-accelerates/#respond Sun, 23 Feb 2025 09:05:29 +0000 https://earlybirdsinvest.com/new-chainlink-addresses-hit-highest-levels-since-january-link-network-growth-accelerates/

Este artículo también está disponible en español.

Chainlink is trading at crucial demand levels after days of consolidation below the $20 mark, struggling to reclaim momentum amid broader market uncertainty. The entire crypto market has faced heightened volatility and instability following weeks of selling pressure. Investors remain on edge after Friday’s Bybit hack, which saw $1.5 billion worth of ETH stolen, further fueling market-wide fear and caution.

Related Reading

Despite the uncertainty, Chainlink is showing signs of strength. Key data from Glassnode reveals that Chainlink network growth is accelerating, with the number of new $LINK addresses surging to 2,298—its highest level since January. This spike in network activity suggests increasing adoption and renewed interest from investors, potentially signaling a shift in sentiment for the oracle-based cryptocurrency.

As Chainlink continues to consolidate at key demand levels, traders are watching closely for a potential breakout. A strong recovery in network growth could translate into higher buying pressure, helping LINK reclaim critical resistance levels and break out of its current range. However, if bearish sentiment persists, LINK could struggle to maintain support, leading to further downside. With the market at a pivotal point, the coming days will be crucial in determining whether Chainlink can capitalize on its growing network activity and push higher.

Chainlink Grows Amid Uncertainty

Chainlink has continued to expand despite the broader market uncertainty and volatility, demonstrating resilience even as prices struggle to break above key resistance levels. While many altcoins have faced extreme selling pressure in recent weeks, LINK has held strong above crucial demand zones, maintaining its position as a top-performing project in the Oracle sector.

One of the key drivers of Chainlink’s strength is its continued strategic partnerships, including its collaboration with XRP, which highlights the growing demand for reliable decentralized data solutions in the blockchain space.

As the market looks ahead, Chainlink investors remain optimistic about the project’s potential in 2024. Many analysts expect LINK to have a bullish year, with increasing adoption fueling further price appreciation. Top analyst Ali Martinez shared Glassnode data on X, revealing that Chainlink network growth is accelerating significantly.

Chainlink New Addresses Count | Source: Ali Martinez on X
Chainlink New Addresses Count | Source: Ali Martinez on X

The number of new LINK addresses has surged to 2,298, its highest level since January. This surge in network activity suggests growing investor interest and adoption, both of which are typically bullish indicators for price action.

Related Reading

With this increasing momentum, Chainlink appears to be positioning itself as one of the most promising projects in the crypto industry. If this trend continues, LINK could see a breakout rally in the coming months, solidifying its role as a critical infrastructure component for decentralized applications and smart contracts.

Price Action Details: Testing Crucial Demand

Chainlink (LINK) is currently trading at $17 after multiple attempts to reclaim the 200-day exponential moving average (EMA) around the $18 level. Bulls are facing a critical moment as LINK consolidates below key resistance, struggling to gain enough momentum for a breakout. If buyers step in and reclaim the $18 level, the next major hurdle will be the psychological $20 mark. A strong push above this level could trigger an aggressive rally into higher price targets, setting the stage for a bullish continuation.

LINK testing crucial liquidity | Source: LINKUSDT chart on TradingView
LINK testing crucial liquidity | Source: LINKUSDT chart on TradingView

However, if LINK fails to hold the $17 support level, the price could face renewed selling pressure, leading to a potential drop into lower demand zones. Given the current market uncertainty, investors are closely monitoring these levels to determine the next directional move. The recent increase in new Chainlink addresses, as reported by Glassnode, suggests growing investor interest, which could provide the necessary fuel for an uptrend.

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In the coming days, all eyes will be on whether LINK can establish strength above the 200-day EMA and reclaim the $20 mark. A decisive breakout would confirm bullish momentum, while further downside could indicate prolonged consolidation or a potential retest of lower support levels.

Featured image from Dall-E, chart from TradingView

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