DeFI News by Thebittimes.Com

Shiba Inu chances to grow are looking stronger right now, and the numbers actually back it up. The memecoin just saw a major SHIB token burn that removed 54.8 million tokens last week—a 76% jump from the week before. At the time of writing, SHIB trades with technical patterns that point to a potential 25-35% Shiba Inu rally ahead. Analysts tracking the chart set the Shiba Inu price target between $0.00001250 and $0.00001400. Also Read: Shiba Inu Team Sends Message of Hope Amid Price Stagnation Shiba Inu Technicals Show Strong Chances To Grow After Token Burn Source: Getty Images Chart Patterns Signal Potential Breakout Two consecutive higher lows have been formed on the daily chart since October 10, and these were followed by a high that reached $0.00001069. The 7-day simple moving average has been reclaimed by the price, and multiple daily closes above this level have actually been sustained. Right now, the 20-day SMA is being tested, and the 7-day SMA looks ready to cross above it. T...

The Chainlink (LINK) cryptocurrency is up big following its announcement of a new partnership with credit card provider Mastercard. The two are partnering to enable Mastercard cardholders to purchase cryptocurrency directly on-chain. The two companies shared the announcement on Tuesday morning, signaling a “major step forward in the mainstream adoption of Web3.” Since the announcement, LINK has climbed nearly 20%, showcasing interest in Chainlink’s big move. At press time, the asset is up 3% in the past week after a brief slide in mid-June. LINK’s trading volume is down to $397.12 million as transactions begin to slow, likely meaning investors are awaiting a point where Chainlink’s price goes up or down. The cryptocurrency currently sits at $13, reclaiming that mark after a stint around $12. As adoption of crypto assets continues to grow, collaborations like the one between Mastercard and Chainlink are helping drive a new wave of users that bridge the gap between crypt...

Polkadot (DOT) reached a low of $3.43 on Wednesday and remains relatively bearish in the charts. It fell below the $10 mark in December and failed to reclaim the level for six months. It is only heading south in the indices with little to no price spurts testing the patience of investors. Its bullish stance has ended with bearish sentiments taking precedence. Also Read: The Britto Surge: What It Means For Global Ripple (XRP) Adoption DOT was once the darling cryptocurrency for day traders, as its price fluctuations provided ample opportunities to book profits. For example, its price used to fall to a low of $5 and still go to a high of $6, allowing a window of $1 to book gains. The daily price fluctuations that occurred between 2022 and 2023 made Polkadot the best cryptocurrency for day trading. Polkadot to $10 Price Prediction: Here’s When Source: Twitter Leading analytical and on-chain metrics firm Changelly has predicted that Polkadot’s glorious days would make a comeback...

Fidelity Investments has added 1005 Bitcoin (BTC) worth $105.7 million to its treasury. The firm also purchased 27,175 Ethereum (ETH) worth $60.5 million. Fidelity’s latest purchase comes amid a market-wide recovery. BTC has reclaimed the $105,000 mark after its recent dip to the $98,000 price point. The original crypto is up 3.7% in the daily charts and 71.5% since June 2024. Despite the turnaround, BTC’s price has fallen 0.9% over the last week, 3.9% in the 14-day charts, and 1.7% over the previous month. Source: CoinGecko Cryptocurrencies Recover Amid Potential Peace Talks Source: Watcher.Guru The cryptocurrency market faced a big correction after the US launched its attack on three Iranian nuclear sites. Many feared an all-out war between the two countries. Iran already faces Western sanctions. A potential war with the US may cause severe strain on the global economy. Bitcoin (BTC) and other crypto assets saw big liquidations as investors lowered exposure to risky assets...