Cryptocurrencies Price Prediction: Luna Classic, Shiba Inu and Chainlink – European Wrap 1 December

FXStreet Team FXStreet

Terra’s Luna Classic price squeeze hints at explosive breakout to $0.000185

Luna Classic price is ready to kick-start a strong move to the upside after nine days of consolidation. This range tightening has squeezed volatility, but if certain conditions are met, a comeback could be on the cards for LUNC.

Shiba Inu burn destroys 666 million SHIB, the meme coin could rally on one condition

Shiba Inu, popularly known as "the Dogecoin-killer", witnessed a spike in burn in November. The community destroyed 666 million SHIB in 149 transactions, pulling these tokens out of circulation permanently. The meme coin is ready to begin its recovery despite the crypto bear market.

Chainlink price could surprise LINK holders, as it prepares for staking on Ethereum

Chainlink is eyeing gains ahead of its staking launch on Ethereum mainnet in December. Staking is a core initiative of Chainlink Economics 2.0, a new program offering LINK holders the opportunity to earn rewards.

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XRP falls toward $1.00 amid muted ETF activity

Ripple (XRP) edges lower toward the short-term $1.05 psychological support level at the time of writing on Wednesday. This marks three consecutive days of losses, undermining investor interest and the broader optimism for a potential deal between the United States (US) and Iran to reopen the Strait of Hormuz.

Swiss-based Taurus gives banks access to Hedera via unified digital asset platform

Taurus, a Switzerland-based digital asset infrastructure provider, announced on Wednesday that it has extended its services, targeting banks and regulated financial institutions on the Hedera (HBAR) network. Meanwhile, HBAR is paring losses, trading above $0.0650 at the time of writing. The token shows signs of stability amid a broader bearish trend.

Crypto markets trade muted, lag risk rally

Whilst hopes for a US-Iran agreement to revive the Strait of Hormuz and renewed AI-trade optimism lifted US equities to all-time highs, major cryptocurrencies remained largely sidelined on Wednesday. Bitcoin and Ether hovered near $64,000 and $1,800, respectively, extending their recent period of consolidation rather than participating in a broader risk rally they would normally follow.

Crypto Today: Bitcoin, Ethereum advance while XRP lags amid US-Iran deal optimism

Bitcoin (BTC) hovers near $64,000 at the time of writing on Wednesday, buoyed by a marginal improvement in crypto sentiment amid growing optimism that the United States (US) and Iran could potentially reach an agreement to open the Strait of Hormuz this week. Ethereum (ETH) mirrors Bitcoin’s neutral-to-bullish outlook, trading toward $1,900.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.