Toncoin (TON), in a surprising turn of events amidst a bearish market, has witnessed an extraordinary surge in its price value over the last seven days. Market indicators and metrics have overwhelmingly favored TON, painting a bullish picture for the cryptocurrency. This unexpected rally was ignited by the breaking news of a partnership involving the renowned messaging app Telegram, further solidifying TON’s position as a preferred blockchain for Web3 infrastructure. Related Reading: Cardano Analysis: How Much Energy Do ADA Bulls Have To Hit $0.3 Milestone? Endorsement Of Toncoin Fuels Bullish Momentum The catalyst behind TON’s remarkable surge was the official endorsement of the TON network by Telegram. This strategic partnership has positioned TON as the go-to blockchain solution for Telegram’s Web3 infrastructure. What’s particularly exciting is the seamless integration of Telegram’s user interface with the TON network, promising a synergy that could reshape the landscape of decentralized applications (DApps) and decentralized finance (DeFi). Toncoin’s price action immediately reflected the positive sentiment following the Telegram partnership announcement. In a market where leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) had been struggling, TON stood out with a remarkable seven-day surge of 38.9%, showcasing its resilience and growth potential. TON market cap at $8.1 billion on the daily chart: TradingView.com As of the latest data from CoinGecko, TON is currently valued at $2.34, demonstrating a robust performance even amidst a brief 2.6% decline over the past 24 hours. Coinglass reported a notable increase in TON’s open interest during this price uptick, suggesting that the bullish momentum may persist in the days to come. Price analysis reports an uptick in TON’s open interest, signaling that the current bullish trend might persist in the coming days. Additionally, the cryptocurrency’s daily active addresses have surged significantly, suggesting increased user engagement and network activity. LunarCrush’s data adds another layer of optimism to the mix, as it highlights a substantial increase in TON’s trading volume – a classic bull signal. TON daily addresses climb. Source: LunarCrush Navigating High Volatile Zone As investors and traders keep a close eye on Toncoin’s meteoric rise, the Bollinger Bands indicate that TON’s price is firmly situated within a highly volatile zone. This volatility adds an element of excitement and potential opportunity for those looking to ride the wave of continued northbound price movement. Related Reading: Algorand (ALGO) May Have A Chance At A Bullish Streak – Here’s How Toncoin’s recent surge stands as a testament to the power of strategic partnerships and the growing influence of Web3. With Telegram’s official endorsement, TON has not only garnered increased attention but also gained credibility as a blockchain infrastructure provider. Investors and enthusiasts alike will undoubtedly be watching closely to see if this bullish momentum is here to stay. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Pinterest
The flagship cryptocurrency, Bitcoin, was created with the goal of disrupting the traditional financial system. In support of this, Best-selling Author and Clinical Psychologist Jordan Peterson has suggested that customers should abandon the banking system and probably adopt Bitcoin. Jordan Peterson Says Bitcoin Over Banks Peterson was making this suggestion in response to a news report that Macquarie Bank, Australia’s fifth largest bank, was planning to transition to a digital-only banking system by November 2024. In line with this, the bank will begin phasing out cash, cheque, and phone payment services as part of its offerings. Related Reading: Ethereum Merge Is One: Here Are The Highlights So Far The psychologist quoted the report and stated, “Maybe it’s time to scrap Banks,” and further quizzed, “Could Bitcoin fix this?” Maybe it’s time to scrap Banks Could Bitcoin fix this? https://t.co/j6wldXMv7P — Dr Jordan B Peterson (@jordanbpeterson) September 14, 2023 For one, Macquarie Bank’s decision has been widely criticized as it potentially excludes certain customer groups. Furthermore, this move also highlights one of the problems that cryptocurrencies like Bitcoin aim to solve by giving customers more control over their money. It is believed that these financial institutions shouldn’t be able to have so much control over people’s finances and decide how they spend their money as these banks could easily implement policies that do not favor or cause difficulties to certain customer groups. Additionally, Macquarie, in a statement, described digital transactions as being a “safer, quicker, and more convenient way to bank.” However, crypto advocates beg to differ as, in response to Peterson’s tweet, some responded that networks like the Bitcoin Lightning Network, XRP Ledger, and Bitcoin Cash are a better alternative than the banks’ digital systems. Lightning Network To The Rescue Many, including Republican presidential candidate Aaron Day, seem to be against the idea of Bitcoin replacing banks. In response to Peterson’s tweet, Day stated that the traditional banking system could do between 50,000 and 100,000 transactions per second (TPS), unlike Bitcoin, which has a TPS of seven. He also elaborated that the CBDC pilot in the US can do 1.7 million TPS. No, it couldn’t. The traditional banking system can do 50k-100k transactions per second. The CBDC pilot in the US can do 1.7 million TPS. BTC can do 7 TPS. You need to do some research before you spout BTC. You might think you are in the in crowd but you’ve actually taken a… — Aaron Day 2024: Truth and Transformation (@AaronRDay) September 14, 2023 Following this, crypto supporters quickly responded that the Bitcoin Lightning Network helps to solve this problem as it boasts a TPS of up to 1 million, making it faster than the traditional banking system, which Day argues for. Related Reading: Bye Bye Birdie: Binance Begins Process Of Axing BUSD Stablecoin The network is able to provide a quicker alternative while enjoying the security that the Bitcoin blockchain provides. Blockchain technology (which cryptocurrencies run on) is said to be more secure and transparent than the traditional banking system. Meanwhile, many in the Bitcoin community seemed to be happy about the idea of Jordan Peterson mentioning the foremost cryptocurrency on his platform, as that could suggest that Bitcoin is about to gain a major proponent. The Canadian psychologist boasts a huge follower base with 4.6 million followers on his X (formerly Twitter) platform. BTC price resumes uptrend toward $27,000 | Source: BTCUSD on Tradingview.com Featured image from X (formerly Twitter), chart from Tradingview.com
BNB price (Binance coin) stayed above the main $202 support against the US Dollar. The price is recovering and might rally if there is a move above $220. Binance coin price is slowly moving higher above the $212 level against the US Dollar. The price is now trading above $214 and the 100 simple moving average (4 hours). There was a break above a major bearish trend line with resistance near $213 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might gain bullish momentum if there is a close above $220. Binance Coin Price Starts Recovery After a major decline, BNB price managed to stay above the key support at $202. The price traded as low as $204 and recently started a decent increase, like Bitcoin and Ethereum. There was a move above the $208 and $210 resistance levels. The price climbed above the 23.6% Fib retracement level of the main decline from the $234 swing high to the $204 low. Besides, there was a break above a major bearish trend line with resistance near $213 on the 4-hour chart of the BNB/USD pair. BNB price is now trading above $214 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $219.50 and $220 levels. Source: BNBUSD on TradingView.com The 50% Fib retracement level of the main decline from the $234 swing high to the $204 low is also near $220 to act as a hurdle. A clear move above the $220 zone could send the price further higher. The next major resistance is near $228, above which the price might rise toward $235. A close above the $235 resistance might set the pace for a larger increase toward the $250 resistance. Another Drop in BNB? If BNB fails to clear the $220 resistance, it could start another decline. Initial support on the downside is near the $214 level and the 100 simple moving average (4 hours). The next major support is near the $210 level. If there is a downside break below the $210 support, the price could drop toward the $204 support. Any more losses could send the price toward the $202 support. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $214, $210, and $202. Major Resistance Levels – $220, $228, and $235.
Ethereum price faced resistance near $1,650 against the US Dollar. ETH corrected gains but the $1,620 support might spark another upward movement. Ethereum is eyeing a key upside break above the $1,650 resistance. The price is trading above $1,625 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance near $1,625 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above $1,650 and $1,670. Ethereum Price Aims Higher Ethereum’s price was able to climb further above the $1,620 resistance. However, ETH struggled to gain strength for a move above the $1,650 resistance, like Bitcoin. There was a downside correction below the $1,630 level. The price even spiked below $1,620 but the downsides were limited. A low was formed near $1,613 and the price is now moving higher. There was a break above the $1,620 level and the 23.6% Fib retracement level of the recent decline from the $1,652 swing high to the $1,613 low. Besides, there was a break above a connecting bearish trend line with resistance near $1,625 on the hourly chart of ETH/USD. Ether is now trading above $1,625 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,635 level or the 76.4% Fib retracement level of the recent decline from the $1,652 swing high to the $1,613 low at $1,642. The next resistance is near the $1,650 level. A close above the $1,650 resistance might send the price toward the $1,670 resistance. Source: ETHUSD on TradingView.com If there is a close above $1,670, the price might start a strong increase. The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher toward $1,880. Another Drop in ETH? If Ethereum fails to clear the $1,650 resistance, it could start another decline. Initial support on the downside is near the $1,620 level. The first key support is close to $1,610. The next key support is $1,585. A downside break below $1,585 might start another bearish wave. In the stated case, the price could even decline toward the $1,520 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,610 Major Resistance Level – $1,650
Bitcoin price is holding the $26,400 support zone. BTC could gain bullish momentum if there is a close above the $27,000 resistance zone. Bitcoin is holding gains above the $26,200 support level. The price is trading above $26,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a steady increase if it settles above $26,850 and then $27,000. Bitcoin Price Holds Ground Bitcoin price started a decent increase above the $26,200 resistance zone. BTC even climbed above the $26,800 level but failed to stay in the positive zone. There was a minor downside correction below $26,550. The price traded as low as $26,412 and is currently attempting a fresh increase. There was a move above the 50% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low. Bitcoin price is now trading above $26,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $26,700 level or the 61.8% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low. The first major resistance is near the $26,850 level. The next key resistance could be near the $27,000 level. Source: BTCUSD on TradingView.com A successful close above the $26,850 resistance and $27,200 could spark another bullish wave. The next major resistance is near $27,500, above which the bulls could gain strength. In the stated case, the price could test the $28,500 level. Another Drop In BTC? If Bitcoin fails to start a fresh increase above the $26,850 resistance, it could react to the downside. Immediate support on the downside is near the $26,500 level and the trend line. The next major support is near the $26,200 level. A downside break and close below the $26,200 level might send the price toward the next support at $25,650. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $26,500, followed by $26,200. Major Resistance Levels – $26,700, $26,850, and $27,000.
Bitcoin has had an eventful week, gaining by over 5% to trade above the $26,000 price. Even following the release of the US Consumer Price Index, which showed an inflation rise of 0.6%, the premier cryptocurrency remained resilient with little to no price drops. As BTC now hovers around the $26,500 price mark, market analysts and crypto enthusiasts continue to speculate on the token’s next movement. Notably, co-founders of market intelligence platform Glassnode Jan Happel and Yan Allemann have plotted a possible path through which Bitcoin may return to $30,000 in the coming weeks. Related Reading: Bitcoin Dominates Ethereum In Daily Active Addresses Despite Lagging In TX Count Bitcoin’s Road To $30,000 Marked By Double Price Barriers, Analysts Say Through a post on their shared account on X, known as Negentropic, the Glassnode co-founders stated that Bitcoin is currently targeting a move above $27,000, having reclaimed its support at $26,000 in the past week. According to the analysts, the Bitcoin Risk Index has now dipped into the 60s, indicating there is an ongoing shift to a positive sentiment around the asset. This means that more investors are beginning to view Bitcoin as a favorable investment. If these sentiments translate into buying pressure, Bitcoin could embark on an upward trend. However, the Glassnode co-founders predict the token will face significant resistance at $27,400 and $28,200, as traders could opt to take profit at these price levels. However, the analysts predict BTC will eventually overcome these barriers, pushing through to the $30,000 price mark, which they described as a “psychology barrier.” The last time Bitcoin traded above $30,000 was back in July. Since then, the world’s largest cryptocurrency has seen its price decline by over 17% due to multiple events, most notably, the massive Bitcoin sell-off by aerospace company Space X. Related Reading: Bye Bye Birdie: Binance Begins Process Of Axing BUSD Stablecoin Is A Bitcoin Rally Coming? In other news, data from Into The Block shows that Bitcoin’s transaction fees for this week were valued at $6.3 million, representing a 40% increase on the last week. While a rise in transaction fees could represent network congestion, which is known to drive network users away, it could also mean there is a high level of adoption. Furthermore, Into The Block also reported that Bitcoin recorded exchange inflows of $10 million and outflows of $70 million. The high level of Bitcoin being moved off exchanges indicates rising investors’ interest in the cryptocurrency, which could also translate into a notable price gain. However, it is worth stating that these are only predictions and should not be counted as investment advice. At the time of writing, Bitcoin trades at $$26,537 with a 0.33% loss in the last day based on data from CoinMarketCap. The token’s daily trading volume is also down 12.86% and valued at $11.25 billion. BTC trading at $26,516 on the hourly chart | Source: BTCUSD chart on Tradingview.com Featured image from Pixabay, chart from Tradingview
Base, the Coinbase-incubated Ethereum layer 2 (L2) network, has seen rising adoption since opening its door to the public barely a month ago. While the blockchain platform has gained significant traction, its pool of users and protocols has also witnessed substantial expansion. In a testament to this rapid growth, Base recently registered its highest number of transactions in a single day. Base Network Records Massive On-Chain Activity In One Day According to data from IntoTheBlock, Base has seen its daily transactions soar to a new all-time high. The blockchain platform registered a total of 1.88 million transactions on Thursday, September 14. Lucas Outumuro, head of research at IntoTheBlock, revealed that Base recorded more transactions than the sum of Arbitrum and Optimism transactions (780,000 and 370,000, respectively) on the same day. The network fees is another metric that reflects the apparent surge in Base’s on-chain activity in recent days. Data from TokenTerminal showed that the blockchain generated more network fees than Arbitrum and Optimism. Related Reading: Bitcoin Dominates Ethereum In Daily Active Addresses Despite Lagging In TX Count Furthermore, Base notched its peak transaction throughput in the past week. According to L2beat, the network recorded a significant 21.29 transactions per second (TPS) on Thursday, September 14. This figure placed Base above other L2 chains and Ethereum in terms of transaction throughput. Nevertheless, the network remains in the top spot, with a current TPS of 19.58. These feats underscore the positive performance of the Coinbase-incubated network in the past few weeks. Base has managed to stake a strong claim for a place amongst the top L2 blockchains, as demonstrated by its surging on-chain activity. However, it is worth noting that Base still lags behind Arbitrum and Optimism regarding total value locked (TVL). According to DefiLlama, Base has a TVL of nearly $373 million, while Arbitrum and Optimism boast roughly $1.7 billion and $650 million, respectively. What’s Behind This Latest On-Chain Activity Surge? The latest surge in on-chain activity on the Base network has been linked primarily to the renewed hype of the decentralized social network, Friend.tech. IntoTheBlock made this connection in a report, saying, “Interestingly, it is not DeFi applications nor NFT marketplaces driving the surge in Base’s activity. Instead, a significant portion of usage can be attributed to a new social application, FriendTech.” Friend.tech is a decentralized social media platform built on Base. It allows users to trade “keys” of X (formerly Twitter) accounts and interact with social media personalities in a closed, group chat format. Related Reading: Ethereum Surges Ahead Of Bitcoin In Active Addresses, What Does This Mean? The Friend.tech platform, once pronounced dead by critics, sprung back to life in the past week. The decentralized application seems to be enjoying renewed user interest, with its TVL surpassing $30 million in the last few days. Friend.tech has been experiencing an uptick in activity, shattering its trading volume record two days in a row. Meanwhile, the platform has seen an increase in capture fees, which reached an all-time high of about $2 million on September 14. Cryptocurrency total market cap on the daily timeframe | Source: TOTAL chart on TradingView Featured image from Unsplash, chart from TradingView
It has been a year since the Merge took place, and as expected, the world’s second largest cryptocurrency, Ethereum, has experienced many changes since then. What are some of them? Let’s take a look. Related Reading: Toncoin Shows Resiliency With 20% Climb – Will TON Hit $3 This Weekend? One Year In: How Has Ethereum Changed? According to a prominent figure in the Ethereum community, Sassal, 980,000 ETH have been burned since Ethereum transitioned from a proof-of-work (PoW) consensus to proof-of-stake (PoS). Ahead of the Merge, Ethereum had implemented a significant upgrade known as the London hard fork. This introduced a fee-burning mechanism with transaction base fees being burned immediately after a transaction is processed. This move was geared towards making Ether deflationary, considering that some tokens are removed permanently from circulation. Ethereum supply is down by 0.25% since the Merge took place. Furthermore, the Merge resulted in the network being secured by validators who stake their ETH as against Miners, who were the backbone of the network under the PoW consensus. In line with this, over 11.6 million ETH (since the Merge) has been staked to secure the network and also earn passive income in return. ETH market cap at $196 billion on the weekend chart: TradingView.com The top stakers include the staking platform Lido DAO which has a market share of 22.64%, according to data from Dune Analytics. Other top stakers include exchanges like Coinbase, Binance, and Kraken. Meanwhile, the number of validators on the network has significantly increased since the Merge, with 362,000 new validators joining the network. Down In Valuation But Not Value Ethereum’s price has increased by close to 11% from a year ago. However, many may consider this insignificant for a token that hit an all-time high of $4,891 the previous year. Nevertheless, there are positives to take from the Merge, as Ethereum has undoubtedly become more valuable since it occurred despite the current bear market woes. A crypto analyst noted that ETH’s annual inflation rate has decreased since the Merge, and trading activity on Ethereum’s layer-2 chains has also increased significantly. That would suggest that more people are being onboarded into the Ethereum ecosystem. Related Reading: Cardano Analysis: How Much Energy Do ADA Bulls Have To Hit $0.3 Milestone? According to him, Ethereum’s fundamentals are also at an all-time high, as there are factors that show that the ecosystem is stable and healthy. One of them happens to be the fact that traditional financial (TradFi) institutions are taking an interest in ETH. Cathie Wood’s ARK Invest recently filed to offer an Ethereum Spot ETF (a first of its kind). This is alongside other institutions that have filed to offer an Ethereum futures ETF (of which ARK Invest happens to be among them). Featured image from WAYA Media
Toncoin has seen a noteworthy 20% price increase over the past week, rising from $1.75 on September 9 to $1.95 on September 15, 2023. With a current market valuation of $6.72 billion, this rise has elevated the altcoin to the No. 22 position. Within the cryptocurrency arena, there’s an unmistakable buzz among market participants as they eagerly seek out the next standout digital asset. This quest is leading to a fascinating shift in the top 20 rankings, as a fresh wave of cryptocurrencies enters the fray. While established tokens appear to be caught in a somewhat static trading pattern, a select group of digital currencies is demonstrating remarkable resilience and assertiveness, positioning themselves as formidable contenders capable of potentially supplanting their more renowned counterparts. Related Reading: Cardano Analysis: How Much Energy Do ADA Bulls Have To Hit $0.3 Milestone? Notably, Toncoin (TON) has emerged as a front-runner in this battle for prominence, boasting a noteworthy surge of over 50% in value over the last 30 days. Increased Momentum For Toncoin The significant price increase in such a short period of time implies increased momentum and interest in this coin. If Toncoin can sustain its steady ascent, it should be able to hit the vaunted $3 mark this weekend or in the coming days. Meanwhile, the current market sentiment is predominantly bearish, marked by a general consolidation within a constrained price range. Recent price declines have somewhat subdued earlier optimism. TON market cap currently at $7.1 billion on the weekly chart: TradingView.com However, Toncoin has managed to attract positive attention in the face of these conditions. It’s worth noting that there might be a short-lived negative correction anticipated after the coin breached the $2 mark. Related Reading: Dogecoin Key Challenge: Will The $0.06 Support Level Hold? At the time of writing, TON was trading at $2.14, up 12% in the last 24 hours and climbed by an impressive 20% in the last seven days, data from crypto market tracker Coingecko shows. A notable factor contributing to Toncoin’s price surge is its remarkable trading volume. In the last 24 hours alone, Toncoin recorded a trading volume of $27 million, surpassing its 20-day average volume of $19 million by a significant margin. TON price action in the last month. Source: Coingecko. TON Banks On Increased Trading Volume An increase in trade volume is indicative of growing interest in and use of a cryptocurrency. The increased number of TON buyers and sellers has led to better market transparency and more efficient price formation. Recent high trading volume has provided the necessary impetus to drive the token’s price higher. On September 14, the Toncoin Foundation and Telegram jointly announced the introduction of TON Space, a novel cryptocurrency wallet designed specifically for Telegram users. TON Space facilitates connectivity to The Open Network ecosystem, which is overseen by the native token of Toncoin. With this move, Telegram hopes to add more than 30% of its users by 2028. It’s interesting that around 700 million people use the leading messaging app for cryptocurrency fans every month. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from GetBlock.net
Ethereum might be the king of smart contracts and the world’s primary hub for decentralized finance (DeFi) and non-fungible tokens (NFTs) activity but onchain data suggests that Bitcoin is ahead in user engagement, interpreted by the number of daily active users, and network activity is at acceptable, healthy levels, reading from the number of daily transactions confirmed. Bitcoin Leads Ethereum In Daily Active Addresses According to Artemis Terminal data on September 15, Bitcoin, despite being predominantly a transactional layer, enabling the peer-to-peer (P2P) transfer of value between addresses, has more daily active users than Ethereum. This observation is even as Ethereum serves as a conduit of value since assets can be moved, just like in Bitcoin, and a smart contract platform for deploying trustless and automated decentralized applications (dapps). Some, like Uniswap, a decentralized exchange (DEX), process billions worth of transactions every month. Related Reading: Artist Stages Crypto Protest In Front Of US SEC With “Rug Pull” Exhibit On September 15, Bitcoin had over 800,000 daily active addresses (DAA), more than twice those in Ethereum, which stood at slightly over 378,000. The only time there was a slight change was on September 13, when over 1 million addresses were activated on Ethereum. Then, the number of DAA on Bitcoin also fell to around 743,000. However, the DAA on Ethereum has fallen sharply while Bitcoin has maintained an upward trajectory since late August. During this time, Ethereum’s DAA has been fluctuating heavily, as evidenced by the rise and fall on Sep 13 and through to today. Ethereum Processes Over 1 Million Transactions Everyday Ethereum shines in the number of daily transactions processed. When writing on September 15, the smart contract platform had processed over 1 million transactions while Bitcoin lagged, confirming less than 600,000. Even at this level, Ethereum has processed less than half of what it did on September 13, when the network processed over 2.3 million transactions. On the other hand, Bitcoin’s daily transactions have been steady, while those of Ethereum have, on average, risen over the past three months, as Artemis Terminal data shows. DAA and daily transaction count are important metrics that on-chain analysts use to analyze the level of engagement and health of public blockchains. Over the past 18 months, activity has rapidly shrunk as asset prices fall in the crypto winter. Ethereum’s drop from around $5,000 in late November 2021 to as low as $1,500 in 2022 weighed negatively on DeFi and NFT activity. Related Reading: Dogecoin Price Prediction for 2023, 2024, 2025, 2030 & Beyond According to DeFiLlama, the total value locked (TVL) of DeFi protocols has stabilized below $50 billion, down from around $180 billion in 2021. Meanwhile, trading volume has crashed by over 90%, dragging the value of NFT-related projects, including Immutable X and ApeCoin. To illustrate, APE is down 96% from peaks. Feature image from Canva, chart from TradingView