In this article, we will explore the finest Web3 and DeFi wallets that offer substantial advantages to crypto users. While Web3 wallets and DeFi wallets share a strong connection, it’s important to understand their distinctions. By highlighting the top wallets in both categories, we aim to provide users with valuable insights into the wallets that can enhance their Web3 and DeFi experiences.

Web3 wallets are specifically crafted to engage with decentralized applications (DApps) on blockchain networks, empowering users with the essential tools to securely oversee their digital assets and participate in the realm of decentralized web. 

Essential Aspects To Note Regarding Web3 Wallets

Cross-Chain Support: Most Web3 wallets support multiple blockchain networks, allowing users to access and manage various DApps and different cryptocurrencies from a single interface.

Seamless DApp Interaction: Web3 wallets allow users to seamlessly connect and interact with a wide range of DApps. They provide a convenient way to authenticate with DApps, sign transactions, and manage account balances.

Enhanced Security Features: Web3 wallets optimizes security measures, such as encrypted storage of private keys and protection against phishing attacks. They often offer features like two-factor authentication and recovery options to ensure the safety of user funds.

Essential Features Of DeFi Wallet 

DeFi wallets are a specialized category of Web3 wallets designed specifically for the decentralized finance ecosystem. These wallets offer advanced functionalities and specific features essential for engaging in diverse DeFi protocols like lending, borrowing, yield farming, and staking. By catering to the unique requirements of DeFi, these wallets empower users to seamlessly participate in the decentralized financial landscape. These wallets provide supplementary features specifically designed to cater to the needs of DeFi users.

Here are some characteristics of DeFi wallets:

Token Swapping and Yield Farming: DeFi wallets often include built-in features for token swapping and yield farming. Users can swap tokens directly within the wallet interface and participate in yield farming to earn rewards.

DeFi Protocol Integration: DeFi wallets integrate with popular DeFi platforms, enabling users to easily access and interact with lending protocols, decentralized exchanges (DEXs), yield farming platforms, and more.

Gas Optimization: Gas optimization features enable users to estimate and adjust transaction fees, ensuring cost-efficient interactions with DeFi protocols.

Note: DeFi and Web3 share some common features, as they both operate within the broader context of blockchain technology and decentralized applications (DApps).

Examples Of Enhanced Web3 And DeFi Wallets

Metamask Wallet

 MetaMask is a popular and user-friendly Web3 wallet that has garnered considerable recognition within the cryptocurrency community. Serving as a browser extension wallet that seamlessly integrates with the Ethereum network, users can easily manage their Ethereum-based assets, including Ether (ETH) and ERC-20 tokens. 

MetaMask also features a built-in DApp browser, enabling direct access and interaction with a wide range of Ethereum-based decentralized applications (DApps). The wallet prioritizes security by implementing encrypted storage, password protection, and optional hardware wallet integration. 

Additionally, MetaMask supports token swapping through decentralized exchanges (DEXs) like Uniswap and SushiSwap, along with integration with various DeFi platforms for lending, borrowing, yield farming, and other DeFi activities. It also offers compatibility with multiple Ethereum test networks for testing and development purposes.

MetaMask supports various networks in addition to the Ethereum mainnet. A few of the numerous networks supported by MetaMask are Binance Smart Chain (BSC), Arbitrum(ARB) and Polygon (MATIC), among others.

Straightforward Guide On How To Get The Metamask Wallet

The first step is to visit the authentic Metamask website and click on the “Get Chrome Extension” or “Get Firefox Add-On” button, depending on your browser choice. 

See the Chrome browser Illustration below:

After clicking on the “Add to Chrome” button, a popup window will appear, asking for confirmation to add the extension. Click “Add Extension” to proceed.

Once the extension is installed, you will see the MetaMask icon in your browser toolbar. Click on the icon to launch MetaMask. You will be presented with the option to create a new wallet.

Once that is done, follow the on-screen instructions to create a new wallet. 

In the final step, MetaMask will provide you with a unique seed phrase consisting of 12 or 24 words. Write it down and keep it securely offline. Confirm your seed phrase as prompted by MetaMask by selecting the words in the correct order, after which you can start using MetaMask to manage your Ethereum-based assets, interact with DApps, and participate in DeFi activities.

Keplr Wallet For Web3

Keplr is a web3 wallet primarily designed for interacting with decentralized applications (DApps) on the Cosmos network. However, it offers support for specific decentralized finance (DeFi) functionalities within the Cosmos ecosystem. The Keplr wallet is known to support networks like Celestia, Osmosis, Terra, and Secret Network.

How To Get And Set Up Keplr Wallet

To begin, you should install the Keplr extension with the appropriate extension store for your browser, such as the Chrome Web Store. To Download, click on the “ Add to Chrome” button as illustrated below:

When creating a new wallet, carefully follow the instructions displayed on your screen to establish a robust password and consent to the terms of use. Remember to store your password securely since it is essential for accessing your wallet (If you have an existing wallet, select the “Import Existing Wallet” option and follow the instructions).

Write down your recovery or seed phrase and store it securely. Remember, it is advisable to never store your seed phrase online due to the risk of being hacked.

After setting up or importing your wallet, connect to the desired network or blockchain supported by Keplr. Once connected, you can start interacting with Cosmos ecosystem DApps. Explore the available DApps and features, and follow on-screen instructions to use them with your Keplr wallet.

Phantom Wallets

Phantom is a widely used cryptocurrency wallet specifically created for the Solana blockchain. It provides an intuitive interface and smooth integration with Solana-based decentralized applications (DApps), enabling users to securely manage, transfer, and receive digital assets within the Solana ecosystem.

How To Get Phantom Wallet

To get started, install the Phantom extension from the relevant extension store for your browser, like the Chrome Web Store. Click on the “Add to Chrome” button, as shown in the illustration below:

To set up your Phantom wallet, simply click on the Phantom icon located in your browser’s toolbar, which will launch the wallet interface. From there, follow the on-screen instructions to either create a new wallet or import an existing one using your recovery phrase or private key.

Set a strong password you can remember and save recovery phrases offline (do not store on the device).

Once your wallet is set up, you can conveniently access it at any time by selecting the Phantom icon in your browser’s toolbar. This grants you the ability to manage your digital assets, engage with Solana-based DApps, and carry out various wallet-related tasks.

UniSat Wallet

UniSat Wallet is an open-source Chrome extension that provides a secure and user-friendly solution for storing and transferring bitcoins and Ordinals on the Bitcoin blockchain. It offers features like immediate access to unconfirmed transactions, enabling faster inscription operations without a full node. Additionally, it supports the storage and transfer of BRC-20 tokens, allowing users to manage both bitcoins and BRC-20 tokens in one wallet.

How To Get UniSat Wallet For Web3

To begin, install the UniSat extension from the relevant extension store for your browser, like the Chrome Web Store. Click on the “Add to Chrome” button, as shown in the illustration below:

For the next step, simply click on the UniSat icon located in your browser’s toolbar, which will launch the wallet interface. From there, follow the instructions to either create a new wallet or import an existing one using your recovery phrase or private key.

Once your wallet is set up, you can conveniently access it at any time by selecting the UniSat icon in your browser’s toolbar. 

Trust Wallet

Trust Wallet is a versatile wallet that serves as both a decentralized finance (DeFi) and a Web3 wallet. It enables users to interact with decentralized applications (DApps) and protocols within the DeFi ecosystem, including decentralized exchanges, lending platforms, and yield farming protocols. Additionally, it integrates with the Web3 ecosystem, allowing users to interact directly with blockchain networks, sign transactions, and securely manage their digital assets on platforms like Ethereum and other compatible networks.

How To Get Trust Wallet For Web3

First, users can download the Trust Wallet app or install the Trust Wallet extension from the relevant extension store for their browser or mobile device, like the Chrome Web Store. Click on the “Add to Chrome” button, as shown in the illustration below:

Next, simply click on the Trust Wallet icon located in your browser’s toolbar, which will launch the wallet interface. From there, follow the instructions to either create a new wallet or import an existing one using your secret phrase as instructed in the image below:

Once you have meticulously set up your password and safely stored your secret phrase offline, you will gain access to your Trust Wallet. With these security measures in place, you can securely and confidently log into your Trust Wallet account and manage your digital assets.

Exodus Wallet

Exodus Wallet is a widely used software wallet for cryptocurrencies, offering users a secure means to store, manage, and trade various digital assets. It is accessible as a desktop application compatible with Windows, Mac, and Linux systems, along with a mobile app for iOS and Android devices. Exodus Wallet provides support for multiple blockchain networks, enabling users to effectively handle and engage with diverse cryptocurrencies. Among the networks supported are Litecoin (LTC), Stellar (XLM), Ripple (XRP), and Bitcoin (BTC).

How To Set Up Exodus Wallet

To begin, download and install the Exodus Wallet extension from the appropriate extension store based on your browser, such as the Chrome Web Store. Locate the “Add to Chrome” button, as depicted in the accompanying image, and click on it to initiate the installation process.

To proceed, just click on the Exodus icon situated in the toolbar of your browser. This action will open the wallet interface, where you can then follow the provided instructions to either generate a new wallet or import an existing one using your recovery phrase or private key.

For new wallets, do not forget to write down your recovery phrase in a safe place and do not store it online. Additionally, it is advisable to not take screenshots as well.

Next, Click on the “Create New Wallet” and carefully set up your password or “I Have A Wallet” button using your secret phrase to get started.

Then, you can connect Exodus wallet to a network of your choice and start your trading journey:

Argent Wallet For DeFi

Argent Wallet is a popular non-custodial cryptocurrency wallet that prioritizes simplicity, security, and usability. It serves as a Web3 wallet, offering users a convenient and user-friendly interface to engage with decentralized applications (DApps) and the broader Web3 ecosystem. 

By integrating with Ethereum and compatible networks such as xDai, Polygon (MATIC), and Ethereum (ETH), Argent Wallet empowers users to manage their digital assets and actively participate in various Web3 activities. With its focus on user experience and compatibility with multiple networks, Argent Wallet provides a versatile solution for individuals seeking a seamless and secure Web3 wallet experience.

How To Get And Set Up Argent Web3 Wallet

To get started, you’ll need to install the Argent extension for your browser by visiting the appropriate extension store, such as the Chrome Web Store. Look for the “Add to Chrome” button, which is depicted in the accompanying illustration. Click on that button to initiate the installation process.

Next, if you’re a new user, click on “Create a new wallet,” and you will be prompted to create a password. 

To securely manage and interact with digital assets, decentralized applications (DApps), and the Web3 ecosystem, save your recovery phrase (write it down. do not store it on your device), and your Argent wallet will be ready to use.

OKX Wallet For DeFi

OKX Wallet is a prominent non-custodial wallet that provides users with the ability to securely manage their cryptocurrencies, non-fungible tokens (NFTs), and digital assets within a unified platform. 

With OKX Wallet, users have the capability to purchase, trade, earn, and oversee their digital assets across more than 50 blockchains, including Bitcoin, Ethereum, OKT Chain, Solana, BSC, and Aptos, all available in over a dozen languages.

How To Set Up OKX Wallet

To set up using the Chrome browser extension, click on the ‘Add to Chrome” button in the top right corner, as shown in the image below:

Next, select the “Create Wallet” option as shown below:                         

         

OKX will present users with the option of creating wallets with either seed phrases or hardware wallets. In the absence of hardware wallets, as in this case, select the “seed phrase” option.                             

    

 

Set the password, verify the seed phrase, and your OKX wallet will be ready to use. Write down your seed phrase and store in a safe place. Do not store online.

Downloading DeFi And Web3 Wallets On Mobile Phones

The wallets listed in this guide also have mobile versions which are available on the app stores of your mobile phone. Navigate to the Apple App Store for iOS or the Google Play Store for Android, input the name of the wallet you want to download in the search bar, make sure you have the correct app and click “Download.”

To set up the wallets on mobile phones, follow the same steps outlined in this guide to get started, and your wallets will be set up.

Conclusion

In conclusion, Web3 and DeFi wallets offer users enhanced digital asset management and participation in decentralized applications. Web3 wallets provide cross-chain support, seamless DApp interaction, and enhanced security features, while DeFi wallets cater specifically to the decentralized finance ecosystem with functionalities like token swapping and yield farming. Understanding these unique characteristics helps users make informed choices. 

Examples of enhanced Web3 and DeFi wallets worth exploring have been mentioned in this article. Staying informed about the latest developments in this evolving technology is crucial for unlocking the full potential of decentralized applications and ensuring asset security.

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A prominent crypto analyst and Bitcoin enthusiast, Michael Van de Poppe, has shared insights on the future trajectory of several altcoins in the space. The crypto analyst’s predictions highlight crucial moments for investors as they watch out for opportune times to buy and sell cryptocurrencies in this dynamic market. 

Altcoins Set To Rise In 2024

Following the approval of Spot Bitcoin ETFs, Bitcoin experienced a substantial surge, rallying to overcome the $45,000 price mark. During this bullish momentum, the prices of several altcoins, including Ethereum (ETH) and Solana (SOL), also witnessed significant increases. 

In a recent X (formerly Twitter) post, Poppe revealed major altcoins to buy or sell in 2024. The crypto analyst shared a chart illustrating the historical price movements and corrections of Solana, Polygon (MATIC) and Chainlink (LINK). 

Poppe revealed that Solana’s consolidation phase appears to have ended after it experienced a major decline from its 2023 peak of over $123 to $95.81 at the time of writing. His analysis suggests that Solana is poised for a higher time frame support test at $80 and is anticipated to surge to new highs, potentially reaching $140. 

Subsequently, the crypto analyst presented a historical performance chart of MATIC, the native token of Polygon. Noting that the cryptocurrency has maintained higher time frame support levels with established liquidity, Poppe predicts an upcoming upward movement despite MATIC’s recent underperformance. 

He forecasts that MATIC’s next rally could propel its price to a range between $1.25 and $1.50. As of now, the price of MATIC is trading at $0.789, reflecting a 2.39% decline in the past 24 hours, according to CoinMarketCap. 

The Bitcoin enthusiast also anticipates a substantial price increase for Chainlink’s native token, LINK. The crypto analyst revealed that the cryptocurrency has consistently held crucial price levels and is positioned for an upward momentum towards $25. At the time of writing, the price of LINK stands at $14.65, representing a 0.12% increase in the last 24 hours. 

Underperforming Crypto In 2024

In his X post, Poppe unveiled a roster of altcoins that has been struggling to surge and maintain crucial resistance levels. The crypto analyst pointed out that Ethereum’s recent slow growth has adversely impacted many altcoins, causing them to experience further declines. 

He mentioned Synthetix (SNX), which is currently depreciating primarily due to Ethereum’s lagging performance. Additionally, there is Arbitrum (ARB) and Polkadot (DOT), which Poppe predicts would have a significant price increase in the future. 

The Bitcoin enthusiast stated that if ARB can return to a price level of around $1.40 and $1.60, it could open up new entries into a more sustainable position. Subsequently, Poppe predicts a rise in the price of Polkadot to $15 despite its current price trading at $6.80. 

The crypto analyst revealed that DOT is currently showcasing a “great weekly candle”, and its previous price corrections present a great opportunity for investors in the ongoing bull market. 

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In the third week of January, Bitcoin (BTC) demonstrated a modest 3% price recovery, following increased selling pressure exerted by asset manager Grayscale since January 12. 

Interestingly, there are indications that this selling pressure is now diminishing, pointing towards a potential restart of the bullish trend that Bitcoin has been experiencing since October 2023.

Grayscale’s Resumed Selling Spree

As previously reported, since the approval of the Bitcoin spot exchange-traded fund (ETF), Grayscale has deposited a significant sum of 103,134 BTC ($4.23 billion) into Coinbase Prime as of January 25. 

However, recent data from Arkham Intelligence, which tracks Grayscale’s transfers, reveals that the asset manager sent an additional 11,800 BTC to Coinbase on Friday. Furthermore, Grayscale has resumed its selling spree as the month draws to a close, with a fresh transfer of 8,670 BTC sent to Coinbase for selling on Monday. 

Grayscale has now sent 123,604 BTC to the exchange, with an approximate value of over $5 billion. However, it is important to note a key aspect amidst this ongoing selling spree.

Despite the continuous selling activity, this latest transfer to Coinbase represents Grayscale’s smallest amount of BTC to the exchange for selling purposes. This development suggests the possibility of a reduction in the selling spree, potentially paving the way for Bitcoin’s price to make another upward move and regain previously lost levels. 

Bitcoin Price Outlook Brightens

Renowned crypto analyst Rekt Capital has provided insights into Bitcoin’s recent price action, highlighting significant levels and indicators to watch. 

According to Rekt’s analysis, Bitcoin’s weekly close managed to surpass the lower boundary of a key range, which was around $41,300. This breakout from the low range is seen as a positive development for cryptocurrency.

Rekt Capital also points out that BTC’s Relative Strength Index (RSI), a widely used momentum indicator, is currently challenging the downtrend line (in red in the chart above). 

Rekt suggests that if the RSI can break above this downtrend line, it would invalidate the bearish divergence. A bearish divergence occurs when the price of an asset is rising, but the related indicator, in this case, the RSI, is moving in the opposite direction. 

Should the RSI successfully break above the downtrend line, Rekt Capital believes that Bitcoin could potentially revisit the upper boundary of the mentioned range, which is approximately $43,800. Reaching this range high would indicate a further recovery in Bitcoin’s price.

In the meantime, BTC continues to regain upper territory, currently trading at $42,645, representing a 1.5% price recovery in the past 24 hours. 

Featured image from Shutterstock, chart from TradingView.com 

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Bitcoin enthusiasts may need to temper their expectations for a rapid ascent to $70,000. On January 28, a crypto analyst thinks the world’s most valuable coin must fall back to $30,000, a critical support level, before resuming its uptrend.

Bitcoin Must Fall: Path To $30,000?

CryptoCon, a crypto analyst, cites historical price performance to support this assertion. Specifically, the argument is that no Bitcoin cycle has reached its recent high without first revisiting the monthly least square moving average (MA).

Currently, this MA is at $30,358. If past performance guides, CryptoCon believes Bitcoin could likely dip to this level before prices recover sharply.

The Bitcoin analyst notes that the MA has consistently acted as a floor for Bitcoin prices, even during periods of high volatility. CryptoCon asserts that the only outlier was the 2019 bear market, triggered by the Black Swan event of COVID-19.

The analyst further acknowledges that though some observers say Bitcoin has bottomed, further confirmations might be required. Based on CryptoCon’s analysis, insufficient data supports this claim. The analyst asserts that by how prices have behaved in the past, it is highly likely that the coin will drop to as low as $30,000 by February or March. 

A Contrarian Position: Wall Street Accumulating BTC

This prediction may disappoint some Bitcoin holders eagerly anticipating a sharp recovery to $70,000 and beyond. This optimistic preview comes after the United States Securities and Exchange Commission (SEC) recently approved multiple spot Bitcoin Exchange-Traded Funds (ETFs).

Though prices fell, pinned to the massive liquidation of Grayscale Bitcoin Trust (GBTC) shares by, among other investors, FTX–the defunct exchange, prices recovered over the weekend. Spot Bitcoin ETF issuers, including Fidelity and BlackRock, have been buying BTC en-masse over the past weeks. Analysts have interpreted this as a net positive for prices. This development might lift sentiment and drive the coin to January 2023 highs soon. 

However, looking at CryptoCon’s preview, it appears the analyst is taking a contrarian position, expecting prices to move against the general public. Whether this retracement will help anchor BTC and build a more sustainable long-term trend remains to be seen.

From the sentiment chart, Fear-and-Greed Index, bulls expect prices to increase in the sessions ahead. According to Coinstats, the index’s reading is 55, up from 50 last week.

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Crypto exchange Changelly has laid out an all-encompassing price prediction for XRP. As part of this prediction, the platform stated that the crypto token would rise to as high as $594 and gave a definite timeline for when this would happen. 

When Will XRP Price Rise To $594?

Changelly predicts that XRP will rise to $594 in 2050, with that representing the maximum price level that the crypto token can attain by then. Meanwhile, $512 and $540 are predicted as what will be the minimum and average prices for XRP during that same timeframe. 

Changelly also gave a breakdown of what XRP’s price would be in the years leading up to 2050. Interestingly, they do not foresee XRP rising above $1 in 2024, as they put XRP’s maximum price this year at $0.85521447. A rise to above $1 is, however, expected in 2025 as the crypto exchange puts XRP’s maximum price in the year at $1.25.

Interestingly, while crypto analysts like Egrag Crypto have predicted that XRP will rise to $27 in the next bull run, Changelly doesn’t see that happening anytime soon. Instead, based on their prediction, the earliest that XRP can hit that price level is sometime after the year 2033. They predict that the maximum price the crypto token can achieve in 2033 is $23.94.

That price level is a far cry from Egrag’s prediction, which puts XRP’s price at $2,500 as early as 2029. Only time will tell which predictions come true as analysts continue to make bullish predictions for XRP’s price. So far, the crypto token hasn’t shown any positive sign to suggest that these bold predictions are attainable. 

Update On XRP’s Price Action

Crypto analyst Dark Defender recently provided an update on XRP’s current price action using the daily timeframe. He noted that XRP had moved toward the $0.52 and $0.53 price range as expected. Specifically, the crypto token is said to have closed above $0.5286, which was the target area, and had a break on the Relative Strength Index (RSI).

The crypto analyst claims that this is a “great sign” for XRP as it attempts to break through the $0.60 resistance level. Dark Defender seemed optimistic about this happening soon as he expressed his joy that everything is going well for XRP on the chart at the moment. 

He stated that he would be more excited if XRP broke $0.6649 and then proceeded with the “initial Fibonacci target of Wave 3 at $1.88.” 

At the time of writing, XRP is trading at around $0.52, down over 1% in the last 24 hours, according to data from CoinMarketCap. 

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Despite starting the year strong, MKR has encountered a choppy path in recent weeks, leaving investors with a mixed bag of signals to decipher. While the decentralized finance (DeFi) leader has maintained its position above key support levels, concerns have emerged surrounding a prominent wallet’s sizeable token sale and a declining trading volume.

Maker Resilience Faces Uncertain Shadows

On the bright side, Maker has demonstrated resilience amidst broader market downturns. After a notable surge on January 24th, the token has held its ground, defying predictions of a deeper correction. This steadfastness has fueled optimism among some analysts, who predict a continued upward trajectory for MKR throughout 2024.

However, a recent development has cast a shadow of uncertainty. Data from on-chain analytics firm Spot on Chain revealed that a well-known wallet, reportedly associated with a MakerDAO co-founder, unloaded a hefty 2,235 MKR over the past two days. This translates to a staggering $4.5 million at press time, sparking fears of a potential “whale dump” that could trigger a price slump.

Wallet 0xa58 (linked to @RuneKek, #MakerDAO cofounder) has sold 2,235 $MKR for 4.542M $DAI at $2,032 on average in the past 2 days.

Currently, the wallet still holds 2,430 $MKR ($4.92M), and may keep selling.

The $MKR price has been down ~3.39% (2D), since the first sale.

Want… pic.twitter.com/iW2A0pMLHx

— Spot On Chain (@spotonchain) January 28, 2024

Adding to the mixed picture is a decline in trading volume. After reaching a high of $84 million on January 25th, activity has steadily dwindled, currently hovering around $43 million. This dampened trading enthusiasm could indicate waning investor confidence or simply be a temporary lull.

A glimmer of hope emerges when examining exchange netflow. Despite the sizable wallet sale, the overall flow of MKR has been dominated by inflows, suggesting that more tokens are being withdrawn from exchanges than sold. This trend, while not as pronounced as the previous outflow witnessed on January 25th, hints at potential accumulation by longer-term holders.

MKR Technical Struggles Ahead

On the technical front, Maker’s daily chart paints a picture of recent struggle. Following the January 24th gains, prices have embarked on a descent, shedding over 3% by January 27th. This marks the steepest decline since the downtrend began two days prior. The continuation of this selling pressure, particularly if fueled by further whale offloads, could pose a significant challenge for MKR’s immediate future.

At the time of writing, MKR was trading at $1,939, down 2.6% and 0.7% in the last 24 hours and seven days, data from Coingecko shows.

Maker’s early 2024 journey has been characterized by both encouraging signs and potential pitfalls. While the token’s resilience and positive long-term outlook offer reasons for optimism, the recent whale sale and declining volume inject a dose of caution.

Featured image from iStock, chart from TradingView

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In his latest technical outlook, crypto analyst Dark Defender has highlighted the key takeaways for XRP amid recent price action. Since hitting a yearly high of $0.64 on January 3, the XRP price has dropped -18.8%, leaving it at risk of further downside before the bulls could take over.

XRP Price Set For Final Dip?

According to the provided daily XRP/USD chart, the price closed below the significant level of $0.5286. As a result, the RSI has been “forced to stay below the Resistance Trend Line,” implying that bears are currently in control, exerting downward pressure on the price.

Remarkably, the price has been in a symmetrical triangle formation since November last year, which is considered a bullish continuation pattern. The XRP price has already been rejected three times at the descending resistance line. In tandem, the RSI on the 1-day chart has also formed a descending trend line. Each time the price was rejected at the resistance line, there was also a rejection of the RSI at the trend line.

Yesterday, Sunday, it looked as if XRP could break above the rising trend line of the RSI, and the price could follow suit and start another attempt to break out of the symmetrical triangle. Dark Defender wrote:

XRP moved towards $0.52-$0.53 as we expected. The target area was $0.5286 and XRP closed just above that level yesterday and had a break on the RSI. This is a great sign for XRP shortly to try the $0.60 Resistance […] But of course, will be more than happy to see XRP breaking $0.6649 first & proceed with the initial Fibonacci Target of Wave 3 at $1.88.

However, this game plan was invalidated as XRP closed below $0.5286 and the RSI trend line. Now, the analyst identifies two key support levels, the trend support at $0.5085 and the Fibonacci support at $0.4623. These levels are now considered pivotal as XRP trades under the $0.53 threshold.

Dark Defender emphasizes the importance of these supports: “So, $0.5085 & $0.4623 supports become more important now.”

The daily RSI indicator also suggests that XRP is in the oversold region, which typically indicates that the asset may be undervalued and could possibly reverse to the upside. However, the analyst cautions that the “weekly frame trumps the daily,” suggesting that longer time frames may influence the asset’s price more significantly. “The more XRP stays below $0.52, the more support becomes prominent,” he added.

Looking forward, Dark Defender anticipates a potential “wick below these levels to complete this exasperating correction” and hints at an eventual recovery, with expectations set towards “Wave 3 in the end.” This reference to Elliott Wave Theory suggests that following the correction, a strong upward trend could emerge. The final price target would then be $1.88.

Despite the current market conditions, Dark Defender advises the community to maintain a positive outlook: “Be positive and be strong since this will be over.” The statement conveys a sense of resilience and long-term perspective amid short-term market fluctuations.

At press time, XRP traded at $0.52297.

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AVAX, the ninth-largest cryptocurrency by market capitalization, has defied recent selling pressure, experiencing a notable 13% surge in the last 24 hours. This rally propelled the Avalanche Network token to a 10-day high of $36, sparking optimism among investors for a more sustained upward trend.

Analysts attribute this positive momentum to two key factors: the increased activity on a decentralized social app called The Arena and the introduction of a groundbreaking scaling solution by Ava Labs.

Solid Run: AVAX TVL Soars 27%

The Arena, a SocialFi platform built on the Avalanche blockchain, witnessed a remarkable 27% surge in its total value locked (TVL) within just 24 hours. As the fourth-largest SocialFi decentralized application (dApp) with over $798,000 in deposits.

The Arena aims to capitalize on the growing popularity of similar platforms like Friend.tech. Despite facing a temporary setback due to an exploit shortly after its launch, the recent rebound is viewed by proponents as a potential turning point. Given that AVAX is the utility token for The Arena, its success could directly contribute to the increased value of the crypto.

One of the catalysts behind Avalanche’s bullish momentum, however, stems from Ava Labs’ ambitious new project: Vryx. This innovative scaling solution aims to transform transaction processing on the Avalanche network, promising an impressive capacity of 100,000 transactions per second (TPS) without compromising security or decentralization.

1/ Introducing Vryx: Fortifying Decoupled State Machine Replication

(How the #Avalanche HyperSDK Will Reach HyperTPS)https://t.co/eY3uWcyTPr

— Patrick O’Grady (@_patrickogrady) January 26, 2024

Addressing a significant challenge in blockchain technology—scalability—Vryx’s successful implementation has the potential to attract a wave of new users to the Avalanche ecosystem.

AVAX Surge: Excitement Amid Volatility

In a related development, the latest price surge of AVAX got the derivatives market excited as well. According to NewsBTC’s analysis of Coinglass’ data, the Open Interest (OI) in AVAX futures jumped by a whopping 20% to $239 million in the last 24 hours.

Despite the promising developments, caution prevails. The cryptocurrency market is notorious for its volatility, and the broader market sentiment plays a crucial role in AVAX’s performance. Ongoing market turmoil could temper AVAX’s momentum. Additionally, the success of both The Arena and Vryx remains uncertain, necessitating close monitoring of their development.

Avalanche’s recent surge is viewed positively, offering promising indicators for the future of AVAX. Increased adoption of The Arena and the successful deployment of Vryx could drive further demand for the token, potentially sustaining an upward trajectory. However, investors are reminded to conduct their own research and exercise prudence before engaging in any cryptocurrency investment, considering the inherent risks associated with the market.

Featured image from Shutterstock, chart from TradingView

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Crypto analyst and long-term crypto investor Jelle has highlighted an interesting historical pattern that suggests that February could be bullish for Bitcoin. This would no doubt be a relief for BTC investors who have to deal with a bearish January for the flagship crypto token. 

Why February Could Be Bullish For Bitcoin 

Jelle stated in an X (formerly Twitter) post that “February should be strong” for Bitcoin “if history keeps repeating itself.” The history which he alludes to is the pattern where February turns out to be a green month for Bitcoin after it has seen a bearish January and had closed in the green for the last four months of the previous year. 

Data from Coinglass shows that the only other times (2015 and 2016) BTC closed the last four months of the year in the green, it went on to record a bearish January and a bullish February after that. Last year, Bitcoin closed September, October, November, and December in the green, thanks largely to the frenzy around the Spot Bitcoin ETFs.

Bearing the historical pattern in mind, Jelle expects that February will once again be a green month for Bitcoin. Interestingly, Bitcoin’s gains in February 2016 and 2017 were significant, recording 20% and 23%. As such, there isn’t only the possibility of this February being green for Bitcoin but also coming with huge gains for the crypto token.

The Bull Market Stays On

In a more recent X post, Jelle highlighted how Bitcoin was back above the $42,000 level and hinted that there could be more move to the upside as he stated that the “bull market stays on.” The crypto analyst is known to be a reputable trader, as he had previously mentioned how his strategies helped him catch the BTC bottom and sell the top. 

From his X post, one could see that Jelle was predicting that the next significant upward movement from Bitcoin could see it rise to as high as $53,000. Interestingly, from the accompanying chart, there was a likelihood of this happening sometime in February. Such a move will once again establish that historical pattern which Jelle had earlier highlighted. 

Whatever happens in February, Bitcoin investors can still take comfort in the fact that Bitcoin still has over 500 days of bullish momentum, according to crypto analyst Ali Martinez. Bitcoin whales have so far remained steadfast, with an increase in those holding 1,000 BTC or more despite the flagship crypto token’s recent price decline. 

At the time of writing, BTC is trading just above $42,000, down over 1% in the last 24 hours, according to data from CoinMarketCap. 

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In the ever-fluctuating world of cryptocurrencies, Solana (SOL), which has witnessed a significant decline in price in the past few days, might be poised for a breakout soon toward the upward trajectory.

Solana Set To Hit The $113 Price Mark Soon

As the development unfolds, Ali Martinez, a well-known cryptocurrency analyst, has revealed his short-term price predictions for Solana. The analyst took to the social media platform X (formerly Twitter) to share his latest projections with the crypto community. 

In the X post, Ali Martinez has identified a notable shift in the direction of Solana. According to him, “SOL seems to be breaking out from a descending parallel channel.”

As a result, Martinez has predicted the price of Solana to reach a new yearly high of $113. However, this is anticipated to take place if SOL manages to hold its position “above the $94” price mark.

The post read:

Solana appears to be breaking out from a descending parallel channel. If SOL can hold above $94, it has a great chance of advancing toward $113.

Martinez’s price predictions for SOL came amidst the present market volatility, which is believed to be triggered by the Bitcoin Spot ETFs. Since the approval of the products, the larger crypto market has gone through a difficult time.

Major cryptocurrency assets in the market have witnessed a major decline in value over time. Nonetheless, the expert’s recent price overview has sparked new hope for SOL traders and investors.

Martinez’s positive price forecast for Solana has caused quite a frenzy in the entire crypto community. With SOL breaking free from a parallel channel that was falling, everyone is now talking about the token’s possible rise.

It is noteworthy that Solana has experienced a significant upswing in popularity in recent years, especially in 2023. Due to this, the project has become a preferred investment option for crypto aficionados and investors.

As of the time of writing, Solana was trading at $96.63, demonstrating a 10% increase in the past week. The digital asset boasts of a 47% rise in daily trading volume valued at $2.30 billion.

The SOL Ecosystem Buzzing With Activity

Lately, several exciting developments have put Solana’s ecosystem in the spotlight. One of the recent events is the introduction of the SOL-based meme coin Wen (WEN), which has seen a notable rise in its daily trade.

According to a report, the meme coin’s 24-hour trading volume has elapsed that of the popular Shiba Inu (SHIB) token. The token has had a remarkable rise in its daily trade, recording over 40% increase.

Data from the report shows that WEN recorded a whopping $115 million in its 24-hour trading volume. Meanwhile, Shiba Inu recorded a whopping $88 million in its daily trading volume.

Currently, the daily trading volume of the coin is sitting at $123 million, indicating a 76% increase. This suggests increased trader interest, which could be connected to the recent market activities specific to the coin.

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