Altcoin
Ripple XRP Transfers, Notcoin Spikes and More
This week, the crypto ecosystem has been filled with significant events, from Ripple’s large-scale XRP transfers to Binance’s delisting actions and Notcoin’s price surge.
Additionally, as Bitcoin (BTC) hovers around $71,000, one veteran analyst has set a target of $150,000 for the bull market to peak. Likewise, asset manager VanEck has set a gigantic target of $22,000 for Ethereum. VanEck believes ETH could reach the goal by 2030.
Ripple’s XRP transactions raise eyebrows
Last weekend, Ripple has started the transfer of 3 billion XRP tokens, sparking significant discussions in the crypto community. Notably, these transactions, valued at approximately $1.5 billion, deviated from Ripple’s typical monthly release of approximately 1 billion tokens.
According to crypto analyst Michael Nardolillo, these movements mainly involved internal transfers for escrow management. Despite considerable volume, XRP price remained relatively stable around $0.5242, reflecting the market’s moderate response to these developments.
“Most of these are internal movements and relock ups of escrows. Everyone says the account is ‘unknown,’ the bot was wrong and it was still a Ripple account,” said crypto analyst Michael Nardolillo. explained.
To know more: Ripple (XRP) Price Prediction 2024/2025/2030
XRP price trend. Source: BeInCrypto
Binance removes 4 Altcoins
On Monday, Binance has announced that it will delist four altcoins – OMG Network (OMG), Waves (WAVES)Wrapped NXM (WNXM) and NEM (XEM), effective June 17, 2024. This decision is part of Binance’s routine evaluation to ensure a high-quality trading environment.
“When tokens no longer meet our listing criteria or there are significant changes in the industry environment, we conduct a thorough review of the project and may remove them from the list,” Binance She said.
As a result, the prices of these coins dropped dramatically, with OMG, WAVES, and XEM seeing significant drops, while WNXM saw only a slight decline.
To know more: Binance Review 2024: Is It the Right Cryptocurrency Exchange for You?
Notable surge for Notcoin
Unlike the four altcoins deleted by Binance, Notcoin (NOT) has recently captured the market’s attention with an impressive 80% increase in the past week. After its initial release at $0.012 and a subsequent price decline, NOT experienced a dramatic rebound, reaching a peak of $0.029.
This wave gave impetus Notcoin’s market capitalization is close to the top 50 cryptocurrencies, driven by strategic staking and token burn functions. However, after highs of $0.029, Notcoin fell by more than 25%, currently trading at $0.021.
To know more: What is Notcoin (NOT)? A guide to the Telegram-based GameFi token
The Future of Bitcoin: A High Prediction
An experienced trader, Peter Brandt, Predicts Bitcoin Could Rise to $150,000 by September 2025. His prediction depends on historical market cycles and Bitcoin halving events, which often signal the start of bullish phases.
While Brandt remains cautious about the certainty of this prediction, he advises investors to carefully monitor Bitcoin trends, especially if it struggles to reach new highs.
“It should be noted that past bull market highs align quite well with an inverted parabolic curve. If this trend also continues, the high of this bull market cycle could be between $130,000 and $150.00. The X on the chart indicates the likely highest date and price level,” Brandt he wrote.
To know more: Bitcoin (BTC) Price Prediction 2024/2025/2030
VanEck’s bold Ethereum prediction
VanEck, a leading asset manager, predicts that Ethereum could reach $22,000 by 2030, assuming that continues approval of cryptocurrency-related financial products such as exchange-traded funds (ETFs).
This optimism stems from Ethereum’s growing utility across various industries, positioning it as a potential disruptor in the financial and technology landscape. VanEck’s scenario suggests significant growth potential for Ethereum, based on its ability to maintain a dominant position among smart contract platforms.
“The central asset of this financial system is the ETH token, and in our updated base case, we believe it will be worth $22,000 by 2030, representing a total return of 487% from today’s ETH price, a compound annual growth rate ( CAGR) of 37.8%”, VanEck declared.
To know more: Ethereum (ETH) Price Prediction 2024/2025/2030
| Base case | Case of the bull | Bear case | |
| Ethereum terminal smart contract market share | 70.00% | 90.00% | 15.00% |
| ETH price target | |||
| Estimated Revenue 2030 ($M) | $78,501 | $361,641 | $2,477 |
| Global tax rate on cryptocurrencies | 15% | 15% | 15% |
| Validator cut | 1.00% | 1.00% | 1.00% |
| FCF to token holders in 2030 ($ million) | $66,058 | $304,321 | $2,084 |
| Multiple FCF terminal | 33.33 | 50 | 20 |
| ETH FDV (millions of dollars) | $2,201,945 | $15,216,032 | $41,681 |
| ETH supply in 2030 | 100.07 | 98.85 | 115.73 |
| Token Price 2030 (USD) | $22,000 | $154,000 | $360 |
Ether Price Target for 2030: Base, Bull and Bear Scenarios. Source: VanEck
This week’s top 10 cryptocurrencies
This week, among the top 10 cryptocurrencies with the highest market capitalization, BNB was the best performing asset with an increase of 18.32%. In fact, Wednesday BNB reached a new all-time high, surpassing $700.
Bitcoin has shown a strong performance, up 5.22% this week. In contrast, Ethereum has posted modest gains, up just 0.60% over the same time frame.
To know more: What are the best Altcoins to invest in June 2024?
This week, Toncoin (TON) increased by 16.75%, overturning the market capitalization of Cardan (ADA). As of this writing, TON’s market cap stands at $18.13 billion, while ADA’s market cap stands at $17.39 billion.
The rest of the cryptocurrencies maintained their rankings compared to last week.
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