The top US crypto exchange Coinbase has announced that a stablecoin pegged to the Canadian dollar could soon be trading on its platform. Announcing via the social media platform X, Coinbase says it’s adding QCAD to its listing roadmap, which alerts customers that the company could soon add support for certain assets. QCAD was relaunched last year by digital asset company Stablecorp with the promise to maintain reserves at least equal to the amount of QCAD in circulation on public blockchains. QCAD is available for use on Ethereum (ETH), Stellar (XLM) and Algorand (ALGO) blockchains. Stablecor ..read more

A closely followed crypto strategist is predicting one Ethereum (ETH) competitor could go on a massive rally following a market correction. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that Solana (SOL) may retest $120 before a parabolic rally to more than $500 later this year. “SOL: as long as the alt market continues to bleed, $120 might be the next area of interest. That said, I still strongly feel SOL is going to $500+ this year. Dollar-cost average and just be patient.” Source: Altcoin Sherpa/X Solana is trading for $125 at time of writin ..read more

A Cardano (ADA) whale metric recently indicated the Ethereum (ETH) competitor could be primed for a price reversal, according to the crypto analytics firm Santiment. On Monday, Cardano whale transactions exceeding $100,000 in value surged to their highest number since November 8th. Explains Santiment, “These spikes in whale activity historically correlate with potential price reversals. ADA’s market cap has shrunk -43% since March 13th.” Source: Santiment/X ADA is trading at $0.441 at time of writing. The 11th-ranked crypto asset by market cap is down nearly 4% in the past 24 hours, more than ..read more

Crypto analytics firm Santiment thinks that Ethereum (ETH) and altcoins related to the top smart contract platform will leave many traders on the sidelines. Santiment says it is keeping a close eye on Ethereum’s average transaction fee, which nosedived to its lowest level since October 18th, 2023. According to the analytics firm, the slumping gas fee is a solid signal that Ethereum is in the midst of carving a local bottom. “Ethereum’s average fee level has dipped to just $1.12 per network transaction, the lowest average cost in a day since October 18th. Traders historically move between sent ..read more

Cryptocurrency analyst and trader Ali Martinez is saying that blockchain oracle Chainlink (LINK) possesses upside potential based on the readings of one indicator. Martinez tells his 60,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is “flashing” a bullish signal for LINK on the 12-hour chart. The TD Sequential indicator is a technical analysis tool used to identify potential price reversal points that typically follow the exhaustion of a trend. According to Martinez, LINK could go up by around 12% from the current level if a key support area holds ..read more

Former Goldman Sachs executive Raoul Pal believes two digital asset subsectors could witness absurd valuations when the market hits crypto summer. Pal tells his one million followers on the social media platform X that during the “crypto summer” phase of the current market cycle, altcoin projects related to artificial intelligence (AI) and tokenized real-world assets (RWA) could go parabolic. A “crypto summer” generally means increased prices and higher trading volume. Says Pal, “But Crypto Summer and Fall will be confusing because everything will have a narrative and will get caught up in eu ..read more

Two wallets inked staggering 30,830x gains on a memecoin built on the Ethereum (ETH) layer-2 scaling solution Base, according to the crypto tracker Lookonchain. Lookonchain notes that two wallets whitelisted by the deployer for the meme asset Brett (BRETT) spent 0.034 ETH worth $102 to buy a combined 172.56 million BRETT in February. Those wallets subsequently sold 122.74 million BRETT for 890.65 ETH worth $3.14 million on-chain via multiple wallets, printing staggering gains to the tune of 30,830x. Whitelisted wallets are approved participants for a specific crypto event like an initial coin ..read more

A widely followed crypto analyst believes that Ethereum (ETH) and other altcoins are on the verge of a major market correction. In a new video update, crypto strategist Benjamin Cowen tells his 800,000 YouTube subscribers that Ethereum against Bitcoin (ETH/BTC) may be making one final move to the upside before a market capitulation. “In order for confirmation of [bullishness], you would need to see ETH/Bitcoin get above its bull market support band and then start holding it as support. And if you don’t see that, then I still think it’s just going to be yet another lower high that everyone onc ..read more

A widely followed crypto strategist says that Ethereum (ETH) is likely gearing up for a big upside move as the leading smart contract platform shows “serious strength” in the charts. Pseudonymous analyst and trader Bluntz tells his 257,000 followers on the social media platform X that ETH is looking strong both in its USD and Bitcoin (ETH/BTC) pairs. “ETH and even ETH/BTC showing some serious strength today.” Source: Bluntz/X Bluntz is a known practitioner of Elliot Wave Theory, an approach to technical analysis that states corrections often happen in three parts, or “A-B-C” waves. According ..read more

Big Four accounting firm KPMG says that investors are warming up to crypto as a way to hedge against the debasement of fiat currencies by central banks. In a new report, KPMG looks at the Canadian market and says that in 2023, half of financial service providers polled in the country offered crypto asset services, up from 41% in 2021. The study also finds that 39% of Canadian institutional investors had crypto exposure in 2023, rising from 31% in 2021. Kareem Sadek, Emerging Technology Risk leader and co-leader of KPMG’s Digital Assets practice, says that Canadian institutional investors have ..read more