Surprising Movements in the Crypto Market
The crypto market never ceases to mess up with our emotions. A coin or token might be soaring today, then it tumbles soon after. We should already be used to it by now, but some of us still couldn't (me included). Although I don't mind it that much these days. The market does what it does anyway, whether we like it or not.
The previous days have seen some surprising actions in the market and let me share 2 of the coins that have had some significant actions.
Ronin ($RON)
$RON, the ecosystem token for the Ronin blockchain was up from $2.56 at the end of January to $3.49 based on the Coingecko chart. It was up 15% in the last 24 hours and reached a market cap of over $1 billion.
According to a post on X, the daily active wallet addresses have been increasing. From the chart, we can see that the numbers doubled in the last 30 days (1st January to 1st February) which seems to indicate a growing interest in the token.
(Source: https://twitter.com/Pirateed_/status/1753840592877211664/photo/1)A few hours ago, Binance announced that it will list the token at 13:30 UTC today with the following pairs:
- RONIN/FDUSD
- RONIN/USDT
- RONIN/BTC
Ironically, the price suddenly crashed back under $3 after a huge volume sell-off around the announcement time. Perhaps a coincidence? Wonder what happened there. Whale playing games?
Anyhow, the price is hovering between $2.80 to $2.89 at the time of this writing. The market cap has now dropped to around $800 million. It will be interesting to see how it goes when trading finally commences on Binance in less than an hour.
$LINK
Chainlink token, LINK is another eye-catcher with its price on the rise these past 7 days. It has risen by over 30%, from $14.33 to $19.54, and is still in the upside momentum today, with a strong trading volume of over 1 billion and a market cap of over $11 billion.
Speculations of institutional investors accumulating. Spot on Chain, a data analyst, posted on X that 8 new wallets (presumed to be one individual or institution) have jointly withdrawn 227,350 LINK.¹ Others are saying we might see LINK to $20 within the day. Experts analysts are predicting that if the daily candle closes above $19, there will be a potential break out in the near future.
The significant surge in price, recent breakout from the consolidation zone, accumulation of LINK tokens by whales, and record transactions all underscore the growing interest from investors and institutions in LINK.²
This speculative news (of large amounts of LINK being taken away from centralized exchanges and the timing they had been made), seems to have influenced the market sentiment and perception and is being reflected in the current price of the token.
Summing Up
These are just the two most surprising movements in the market (at least for me). RON's price drop is quite unexpected. Usually, coins getting listed in the biggest crypto exchange have some significant upside on their prices but it did the opposite.
LINK on the other hand seems to be enjoying the upside movement, but it will be interesting to see how it will turn out at the end of the day, or in the following days.
Do you think LINK will cross the $20 price soon?
For infotainment only.
Lead image created on Canva. Logos from Ronin and Chainlink. Screenshots linked to their sources (Coingecko). No copyright infringement intended. 20:55ph Posted Using InLeo Alpha
Congratulations @ifarmgirl! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 23000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out our last posts:
I never heard the name Ron and never invested there. But Link is a pretty good coin in my eyes and have some potential although I feel it moves slowly.
!PIZZA
I don't have RON either but had its wallet on my browser, lol! LINK had been stagnant so the recent price action was a surprise.
!PIZZA
$PIZZA slices delivered:
@ifarmgirl(4/5) tipped @tranquil3
intishar tipped ifarmgirl
ifarmgirl tipped intishar
ifarmgirl tipped mr-chuks
ifarmgirl tipped biyimi
There's always visible movement on crypto, and we all loved it when the movement is for our own good.
I love your energy, you've been following the February initiative nonstop.
That's right. The market behavior tends to reflect people's sentiments.
Thank you. I'm trying, !LOL
Good luck to you.
!PIZZA
lolztoken.com
He said nothing.
Credit: reddit
@mr-chuks, I sent you an $LOLZ on behalf of ifarmgirl
(1/6)
Farm LOLZ tokens when you Delegate Hive or Hive Tokens.
Click to delegate: 10 - 20 - 50 - 100 HP
This post has been manually curated by @steemflow from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @steemflow by upvoting this comment and support the community by voting the posts made by @indiaunited.
Thanks once more :)
Under current market situation after BTC ETF it does look like anything positive turns out into a sell off probably for most projects, ppl might be thinking I better get out because if BTC keeps going down better take profits now, its the daily trader and short term investor mentality and its ok because that is how their system operates although for anyone believing in this projects great time to buy, Im dying for this month to be over so I can get some liquidity and buy more Hive
Yeah. That might be the case, people want to stay on the safer side and they take their profits whenever they see the chance.
The month has just started but the days go by fast :) Buying HIVE at the current price is good. All the best to you :)
thx Im for sure going to be looking into buying Hive as soon as I can, Im almost done buying few things I need for the kids to go back to school, after that then its time to buy more Hive 😅
Link has already moved up from $20 target it is on a rocket to the moon
Haha, yeah. It looks like there was traffic, it's now back under $20, !LOL
lolztoken.com
Now there is a career in ruins.
Credit: reddit
@thetimetravelerz, I sent you an $LOLZ on behalf of ifarmgirl
(2/6)
Farm LOLZ tokens when you Delegate Hive or Hive Tokens.
Click to delegate: 10 - 20 - 50 - 100 HP
Those who invested in $Link must be in money right now
My problem with some new projects is that I don’t trust them and it will be so sad to lose money to them
LINK is not a new token. And it's one of the top coins in terms of market cap with a good volume. As to investing in new projects, we have to be careful.
!LADY
View or trade
LOHtokens.@ifarmgirl, you successfully shared 0.1000 LOH with @rafzat and you earned 0.1000 LOH as tips. (1/21 calls)
Use !LADY command to share LOH! More details available in this post.
I am so sure when the hive token will move up, this will just be how it will surprise a lot of people
Yeah. Let's hope it will do so :)
!PIZZA
It's shocking me for to see Ron got dumped this hard, most of the time, coins getting listed on Binance experience a huge pump, but this time it was different.
Yeah. It soars then it dumps. People are taking profits hehe. It did pump when trading started on Binance, but it's now down.
I am a ron hodler and i am happy to see someone on the hive blockchain talking about it.
That's good to hear. You can also share about it when you can :)
Crypto is so unpredictable and that's why I have not been able to bring myself to trade on any coin again.
That's true. We gain some, we lose some. Trading can be risky if we don't know what we are doing :)
!PIZZA
https://twitter.com/lee19389/status/1754576061915078785
#hive #posh
Link I know has been on a steady increase but Ron? Will look it up.
Yeah, RON made a surprising move. Price has dropped now
Ganun talaga pag si Binance mag-list ng coin. Yun yung binabantayan minsan, announcement ni Binance.
Yep. Major exchange eh. So kayang magcreate ng hype !LOL
lolztoken.com
It is clearly capsized.
Credit: reddit
@b-hive, I sent you an $LOLZ on behalf of ifarmgirl
(3/6)
The funny thing is that it never changes... what changes is crypto, because every time with the announcement of a listing on a major exchange its price rises to that expectation and then the whales celebrate.
That's true. However, for RON, the opposite happened. On the announcement that it's getting listed, its price dumped, lol! Crypto space can be really wild, hehe.
i always thinking Investing in these cryptos is very risky and i have lost alot in this. so i don't think for invest today. but best wishes to those who are investing in them.
Investing has its own risk so we should not just jump in just because others are doing it hehe.
!PIZZA
The world of Crypto is really unpredictable and move at a pace that most of the time we don't always expect
Yes, that's true. Expect the unexpected, they say :)
Whenever the market gets stuck like this, we see a big move within the market. I have known this project for the last four years and I invested a lot of money in it and we can see the price of this coin going to 50$
That's good to hear. It's nice when our long-term investments start paying off. All the best to you.