Cryptocurrencies Price Prediction: AVAX, Cardano & Algorand — Asian Wrap 17 Feb

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AVAX, MATIC, Uniswap witness explosive on-chain activity, on track for massive price rally

Messari Crypto's Analysts reveal that active Avalanche addresses hit a new all-time high in Q4 2021. The DeFi boom that started in the last quarter of 2021 fueled a spike in on-chain activity in AVAX, MATIC and Uniswap. Liquidity providers on Uniswap earned 54% more fees than in Q3 2021, indicating network growth and rising utility.

Cardano Price Prediction: ADA readies for another run to $1.30

Cardano price experienced a nice jump higher on Monday, closing the session with a 5.5% gain. Concerns about crossing and staying above the Kijun-Sen continued until almost, literally, the last minute of the daily candlestick. Bulls have one more nearby resistance level before ADA would likely move towards $1.30 – the primary resistance level on its chart.

Musk family is bullish on Algorand, invests in decentralized music platform Dequency

Algorand based Dequency raised funds from investors, including Elon Musk's siblings Tosca and Kimbal. Dequency, a decentralized music platform, has raised $4.5 million in its latest investment round. Algorand Dapp Dequency raised some cash from several investors, including two of Elon Musk's siblings.

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FXStreet Team

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Arbitrum advances as Robinhood Chain fee-sharing boosts ecosystem and technical outlook

Arbitrum (ARB) trades above $0.08 erasing the losses recorded earlier this week. The price rally comes after an announcement by Steven Goldfeder, co-founder of Offchain Labs, that 10% of fees generated by Robinhood Chain and other Arbitrum Layer 2 will flow back to the ecosystem, boosting the Arbitrum long-term value.

Ripple and Stellar outlook: Extend downside as weakening technicals, US‑Iran tensions pressure prices

Ripple (XRP) and Stellar (XLM) extend losses, correcting over 6% and 10%, respectively, so far this week. XRP falls below $1.090, while XLM posts a fifth consecutive day of correction and closes below key support levels.

Crypto Market Overview: Bitcoin eyes $60,000 – Jupiter and Pi Network lead losses

Bitcoin is extending its losses on Thursday for the third consecutive day amid renewed tensions between the US and Iran. Risk-off market sentiment intensifies, with Jupiter (JUP) and Pi Network (PI) emerging as the biggest losers over the last 24 hours.

Bitcoin eyes extension of July rally after reclaiming $60K, but bear market risks remain — CryptoQuant

Bitcoin (BTC) could be positioned for further gains this month after reclaiming the $60,000 level, as historical July seasonality, improving demand and easing selling pressure point to stronger short-term momentum, according to a Wednesday market report by CryptoQuant. The report noted that July has historically been one of Bitcoin's strongest months, particularly during bear market cycles.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.