The Algorand price has crawled back in the past few days, mirroring the performance of other altcoins. ALGO token was trading at $0.213 on Wednesday, a few points above this month’s low of $0.1480. It remains 92% below its all-time high. This article explains why Algorand may rebound soon even as its fundamentals weaken.

Algorand has become a fallen angel and a ghost chain

Third-party data indicate that Algorand has become a ghost chain, as the number of developers and users on the network has declined over the past few years.

DeFi Llama data indicate that Algorand’s market share in the decentralized finance (DeFi) industry has been declining recently. 

The network has a total value locked (TVL) of over $109 million, a significant decline from its all-time high of over $395 million. While most chains have lost their TVL in the past few years, Algorand’s performance means that other newer chains like Base, Sonic, and Berachain have overtaken the network. 

The top players in the Algorand ecosystem are Lofty, Folks Finance, Reti Finance, and Vesta Equity.

More data shows that the DEX network in Algorand has little going on as the volume has continued moving downwards. DEX protocols in the network handled about $1.48 million in volume in the last 24 hours. In contrast, top chains like Ethereum, Solana, and Base handled billions in this period.

The stablecoin market cap in Algorand is also much smaller than that of other chains. It has risen to $140 million, up from its low of $132 million this week. 

Furthermore, Algorand has continued to liquidate its staking assets over the past few months. It has lost over 301 million ALGO tokens, or approximately $65 million, in the past 30 days. Its staking market cap has moved to $227 million, while the staking ratio has dropped to 12.5%.

Read more: IOTA’s Rebased upgrade to go live on May 5: can IOTA price soar 120%?

ALGO price technical analysis

The weekly chart shows that the price of Algorand has been in a strong downtrend in the past few months. It bottomed at $0.097, where it failed to move below several times since 2023. It has formed a double-bottom pattern whose neckline is at $0.6135. This pattern is a popular bullish sign.

If this pattern works out, Algorand price will likely rise and retest the neckline at $0.6135, which is about 190% above the current level. A drop below the double-bottom level of $0.09 will invalidate the bullish outlook.

Algorand price daily chart analysis

The daily chart indicates that the ALGO price has rebounded slightly over the past few days. This rebound happened after the coin completed the formation of the falling wedge chart pattern. A wedge is made up of two descending and converging lines that connect higher highs and lower lows. 

The widest part of the wedge pattern is about 60%. Therefore, measuring the same distance from the breakout point brings the next target level at $0.2880. 

Additionally, the Polkadot price has moved above the key resistance level at $0.1987, its highest swing point on May 28, and the upper side of the cup and handle pattern. Oscillators such as the Relative Strength Index (RSI) and Stochastics have all pointed upward. 

The bottom line

Algorand’s fundamentals have deteriorated in the past few years, as it has lost market share in the cryptocurrency market. It has a small share in the decentralized finance and non-fungible tokens (NFT) industries. 

However, it has formed some encouraging technical patterns that may indicate further gains later this year. Historically, a cryptocurrency can surge even as its fundamentals worsen. 

The post Here’s why Algorand price could rise as its key data deteriorate appeared first on Invezz

The crypto market was a sea of green as Bitcoin and most altcoins continued their recent recovery. The market capitalization of all cryptocurrencies surged to over $2.93 trillion, a figure that may continue to grow this week.

DeepBook price surges after exchange listings

DeepBook Protocol (DEEP) price surged by over 122% on Wednesday, reaching a high of $0.2055. It rallied in a high-volume environment, with its 24-hour figure surging to $1.02 billion. This is a notable surge for a coin that has a market cap of over $591 million. 

DeepBook Protocol token surged after Binance announced that it would list its perpetual futures contracts with a 50x leverage. It was also listed on Upbit, the popular South Korean crypto exchange. Also, DeepBook price jumped after launching a key upgrade on the Sui network.

The risk, however, is that these post-listing gains tend to drop as the momentum wanes. Also, DEEP has significant dilution risk as its circulating supply of 3 billion tokens is lower than the total figure of 10 billion. 

Why altcoins like Dogecoin, Shiba Inu, and Cardano surged

Most altcoins have rallied by double digits in the past few days. Dogecoin price surged to a high of $0.18, its highest level since March 28 and 40% above its lowest level this month. 

Shiba Inu price also soared to a high of $0.000014, its highest swing since March 28 and up by 325 from its lowest level this month. 

Cardano price has jumped by over 30% from its April low. Other top-performing tokens in the crypto industry were Immutable, Sui, Walrus, Floki, Raydium, and Fartcoin. All these tokens surged by double digits. 

Bitcoin price recovery

The main reason why these altcoins surged is that Bitcoin bounced back and crossed the important resistance level at $90,000 for the first time this month. That recovery occurred as investors began to view it as a safe-haven asset. For example, all spot BTC ETFs added over $936 million on Tuesday, following gains of $381 million and $107 million in the last two consecutive days. 

Altcoins like Dogecoin, Shiba Inu, Cardano, and DeepBook do well when Bitcoin is in a strong rally. 

Analysts are highly bullish on Bitcoin. In an X post this week, Arthur Hayes predicted that the coin would surge and hit $100,000 soon. Other top analysts like Robert Kiyosaki and Standard Chartered have also delivered bullish forecasts.

Read more: Swiss franc, gold, and Bitcoin emerge as safe havens amid Trump turmoil

Trump seeks to calm the market

Bitcoin and altcoins like DeepBook, Shiba Inu, Dogecoin, and Cardano have surged as Donald Tump sought to calm the market. 

In a statement on Tuesday, he said that he was not about to fire Jerome Powell, the Fed Chair. This is a notable statement since an official recently said that the president was studying whether to fire Powell, a situation that would have led to weak confidence on the US. 

These altcoins also jumped after Trump hinted that he was ready to work with China. He said that he was considering substantially cutting tariffs in a trade deal with the second-largest economy.

Most altcoins formed a double-bottom and a falling wedge

Dogecoin, Shiba Inu, Cardano, and other altcoins also jumped because most of them have formed a double bottom and a falling wedge pattern over the past few months. These patterns often lead to a strong bullish breakout over time. 

The chart above shows that Cardano price formed a falling wedge pattern on the weekly chart. This wedge formed as it moved to the second phase of the Elliott Wave, which is then followed by the highly bullish third phase. 

The other chart shows that the Shiba Inu price formed a double-bottom pattern at $0.00001050. Before that, the coin formed a falling wedge chart pattern, a popular bullish reversal sign. The same patterns can be seen on other altcoins like Dogecoin and Solana.

The post Here’s why DeepBook, Dogecoin, Shiba Inu, Cardano, and altcoins are soaring appeared first on Invezz

Pi Network price has collapsed after peaking at $3 in February shortly after its mainnet launch. The Pi coin token has crashed to the current $0.65, down by 78% from its all-time high. This crash has erased billions of value as the market cap has crashed from over $13 billion to below $4 billion. This article explains why it is risky to short Pi coin. 

Pi Network price could surge in case of an exchange listing

Shorting is a process where investors and traders seek to benefit from an asset’s decline. The practical approach is where one borrows a cryptocurrency, sells it, and then buys it later at a lower price and pockets the difference. 

Shorting is riskier than buying an asset since its price can go up indefinitely in a process known as a short squeeze. For example, if you borrow Pi Network at the current price of $0.67 and it surges to $10, you will suffer a loss of $9.33 per token. 

The primary reason for avoiding Pi Network is that it may undergo a short squeeze if it receives an exchange listing. This is notable since Pi, despite its large size, is only listed in a handful of exchanges like OKX and MEXC. 

Therefore, there is room for major exchange listings, especially by companies like Binance, HTX, Coinbase, and Upbit. Such a move will likely lead to a significant short squeeze, as we have seen in the past few months.

For example, the Orca price jumped by over 200% in a day after being listed by Upbit. As we wrote earlier, DeepBook price also surged by over 150% after being listed by Upbit and Binance futures. 

Pi Network is a more popular coin than Orca and DeepBook, meaning that a 500% surge cannot be ruled out. 

Pi Coin has a history of short squeezes

While Pi Network launched its mainnet in February, investors were able to trade its IoU. These IOUs are tokens created in 2021 by some exchanges to give investors exposure to the token. They were not affiliated with the core team and had low volume.

History shows that these tokens regularly had short squeezes. For example, the one listed by HTX surged from below $30 in October to $99 in November, a 172% surge. It then dropped to below $50, and then soared to near $90. 

With Pi Network’s price so low, it only needs a small spark to catapult it sharply higher from the current level. 

Upcoming crypto bull run

Further, Pi Network price may benefit if there is a crypto bull run. There are early signs that this run will happen soon. Bitcoin price has jumped to $94,000 for the first time in over a month, while the market cap of all cryptocurrencies is nearing $3 trillion. 

Analysts are hopeful that a bull run is starting, with Standard Chartered experts predicting an all-time high for Bitcoin.

A likely catalyst for the crypto market rally is that Trump has said that he was not planning to fire Jerome Powell. Trump has also hinted that he was ready to talk with China on plans to solve the trade skirmish. Such a move would lead to more inflows from investors.

Pi Network may address its tokenomics

The other main reason why the Pi Network may surge is that the developers may address its tokenomics. There are signs that the developers have started to repurchase its tokens, as Dr. Altcoin has noted. 

Also, there is a likelihood that the Pi Network will burn most of the unclaimed tokens once the KYC process ends. Such a move would help to address the ongoing dilution risk facing the network as billions of tokens are about to come online.

Pi Coin price has double-bottomed

Finally, there are signs that the Pi coin price has bottomed. It has formed a double-bottom pattern at $0.5860, with a neckline at $0.7767, its highest point on April 17.

This pattern is one of the most popular bullish reversal sign. This means that the token may soon surge, with the initial point to watch being at $0.7767. A move above that level will point to more gains, potentially to the all-time high of $3. 

The post Pi Network price has crashed: 5 reasons not to short Pi Coin appeared first on Invezz

The Vanguard Dividend Appreciation ETF (VIG) has crashed this year and has formed a death cross pattern, pointing to more downside in the near term. After peaking at $204 earlier this year, the fund has retreated to $184.40, and has formed a death cross pattern, pointing to more downside in the near term. 

VIG is a top dividend ETF

The Vanguard Dividend Appreciation ETF is one of the biggest players in the dividend investing industry. It has grown to accumulate over $102 billion in assets because of its low expense ratio of 0.05% and long history of paying dividends. It has a dividend yield of just 1.8% because of its strong stock performance. 

The VIG ETF has grown its dividend in the last eleven years. Its stock performance has also been better than other comparable ETFs like the Schwab US Dividend Equity (SCHD), Vanguard High Dividend Yield Index Fund ETF Shares (VYM), and iShares Core Dividend Growth ETF (DGRO). 

The VIG ETF tracks companies in the S&P US Dividend Growers Index, which tracks companies in the S&P 500 index that have boosted their dividends for over a year. As such, the index is mostly made up of companies in the technology sector. 

According to Vanguard, 22% of the companies in the VIG fund are in the technology sector. They are followed by firms in the financials, healthcare, consumer staples, and industrials. 

The biggest companies in the fund are Apple, Microsoft, Broadcom, JPMorgan Chase, Eli Lilly, Visa, Exxon Mobil, and Mastercard. 

Read more: 5 Best Dividend ETFs to Buy for Q2 2025

Is the Vanguard Dividend Appreciation ETF a good dividend fund to buy?

A good dividend ETF should exhibit several key characteristics. In addition to having a low expense ratio, it ought to have a high dividend yield. Besides, the goal of investing in these funds is to get a monthly, quarterly, or annual payout.

For example, the S&P 500 index is not considered a dividend fund yet it has a yield of 1.39%. Similarly, the Invesco QQQ ETF is also not said to be a dividend yield of 0.70%.

Therefore, we would not classify it as a dividend fund. Rather, it should be classified as a general ETF comprising 338 companies. 

One way to determine whether an ETF is a good investment is to compare its performance with that of other general funds that track the S&P 500 and Nasdaq 100 indices. 

The fund should be a good investment if it has a superior total return over time. In this case, VIG has a total return of 81% in the last five years. In comparison, the SPY and QQQ ETFs have returned 103% and 117%, respectively. 

This means that an investment in the generic funds generates a better return compared to the VIG fund. This aligns with history, which shows that only a few funds have managed to beat the S&P 500 index over time.

VIG ETF technical analysis

The daily chart indicates that the VIG ETF reached a high of $204 earlier this year. It formed a double-top pattern, with its neckline at $191.25. A double top is a popular bearish reversal pattern.

Worse, the fund has formed a death cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other. This pattern is one of the most popular bearish patterns in the market. 

The VIG ETF has moved below the 23.6% Fibonacci Retracement level. Therefore, the fund will likely continue falling as sellers target the year-to-date low of $170, down by 8.2% from the current level. A move above the resistance at $190 will invalidate the bearish view.

The post Vanguard’s VIG ETF forms a rare death cross: is a deeper crash coming? appeared first on Invezz

XRP price has slowly moved above a crucial resistance level this week, raising optimism that it will maintain its momentum. Ripple surged to a high of $2.2 on Wednesday, its highest level in over two weeks and 40% from its lowest level this month.

This article explores how high the XRP price will go if the Ripple Network is adopted by most US banks now that the SEC vs Ripple case is over.

The end of SEC vs Ripple case is a catalyst for XRP

One of the top catalyst for the XRP price is the growth of its partnerships in the United States now that its legal issues are behind it.

In a recent statement, Brad Garlinghouse, its CEO noted that partnerships with American companies almost dried up when the SEC filed its case in 2020. Instead, the company entered into agreements with international companies, particularly those in Asia. 

The SEC decided to drop its case against Ripple this year, opening the opportunity for US firms to sign up. 

Ripple is pitching it services as being better alternatives to SWIFT, a society used by thousands of banks globally. It argues that SWIFT uses ancient technology and which is costly and inefficient as transfers take time to complete. 

Ripple’s RippleNet is a faster and lower-cost option, with the average transaction cost under $5. Its transactions take less than a minute to complete. 

How Ripple payment network works

RippleNet handles transactions in two ways. It can use the XRP token, where a company sends XRP, which is then converted immediately to the local currency in the other bank. 

The other option does not use XRP. In it, the two banks use the RippleNet messaging, and the payments are completed within minutes. The benefit of this approach is that the traditional correspondent banking approach is replaced with a digital ledger. 

RippleNet uses three key aspects, including XRP Ledger, Interledger Protocol, and On-Demand Liquidity. XRP Ledger is a blockchain that settles XRP transactions, while ILP connects different payment networks. ODL is an option that Ripple uses to eliminate pre-funded accounts. 

More US bank partners 

The next key catalyst for the XRP price is that Ripple may start making deals with other American banks. Some of the top firms currently using its technology are Bank of America, PNC Bank, American Express, and JPMorgan.

The token would likely do well if more banks entered its ecosystem since that would be a signal of more adoption. It would also create a network effect as more companies join the RippleNet network.

XRP price has other potential catalysts. Ripple recently acquired Hidden Road, a company that handles transactions worth over $10 billion daily. The company has hinted that some or all of these transactions will be moved to the XRP Ledger soon.

Ripple is also hoping to be a big player in the payment industry. It recently moved Ripple USD (RLUSD) into its payment network and has received several money transmitter licenses in the US.

XRP price analysis

XRP price chart | Source: TradingView

The weekly chart indicates that the XRP price has rebounded this week, moving above the upper boundary of the triangle pattern. This triangle is part of the bullish pennant chart pattern, a popular bullish continuation pattern.

The length of the flag is about 450%. Therefore, measuring the same distance from the upper side of the flag brings the potential XRP price target to $18. Such a move would push its market cap to $750 billion. 

The post XRP price prediction: How high would it go if most US banks integrated Ripple? appeared first on Invezz