Ethereum has not only been the market’s second-largest cryptocurrency, but it has also been the torchbearer for many of its fellow altcoins. Even as Bitcoin succumbed to a month-long consolidation phase, ETH was until recently noting new highs, with its growth contributed to by sectors such as decentralized finance [DeFi] and stablecoins. However, this growth...Read More
If you had purchased $1000 worth of Bitcoin (0.13BTC) on 1 January 2020, it would be worth $1509.10 today. On the contrary, an investment of $1000 in Gold on the same day (0.65 oz) would be worth only $1277.10 today. Furthermore, if you had purchased $1000 worth of Bitcoin in 2013, your investment would be...Read More
Synthetix started as a stablecoin but soon pivoted to satisfy the needs of DeFi users. Nowadays, it serves as one of the leading DeFi projects offering the trading of currencies, commodities, stocks, and other assets. Trading stocks is still dominated by traditional financial centers, being heavily regulated, and hard to automate. The same applies to...Read More
When trading, many of the market’s traders have often observed a low correlation between Bitcoin and other global financial assets. That is interesting, but not unexpected since as a prospective store of value candidate it is supposed to be uncorrelated to a great degree. Here, it must be noted, however, that the correlation tends to...Read More
The Crypto Fear & Greed Index has been above 70 for the entirety of August, with the same showing an “extreme greed” reading of 78, despite the latest dip in Bitcoin’s price. Simply put, the crypto-market continues to remain bullish. This was the case with respect to many of the market’s altcoins as well as...Read More
Disclaimer: The following article should not be taken as investment advice. The findings of the same should be foreseeable over the next couple of weeks The bullish trend so evident in the early days of August is slowly starting to fade, with a majority of the market’s altcoins taking a dive on their charts. However,...Read More
Bitcoin futures aggregated open interest hit the $5 billion mark yesterday, but the overall trend seems to be declining. This points to a possibility that BTC derivative traders are quitting the market owing to lackluster price action. Will a gap at the $9700 price level result in a proliferation of short positions? Bitcoin Futures Open...Read More
Disclaimer: The following article should not be taken as investment advice and the findings of the same should be foreseeable over the next 24-48 hours XRP has struggled recently to keep its valuation above the $0.30 mark, with increasing sell pressure keeping the cryptocurrency’s value just under its resistance level on the charts. However, its...Read More
The Ethereum community rejoiced after the first block of the Medalla test net was finalized. But the transition to ETH 2.0 isn’t turning out to be all that smooth. Despite the important updates, network participation on the test net remains wobbly. This is happening amid Medalla’s gnawing debacle last week. Medalla Testnet’s First Block As...Read More
The latest dip in Bitcoin’s price has knocked back the gains of many of the market’s altcoins. Binance Coin and Tezos were just some of the alts to note such corrections. However, these price drops do not point to any reversal in trend yet and should be treated as healthy corrections in a bull market....Read More
As one of the largest organizations managing crypto-investment trust funds for accredited and retail investors, Grayscale recently crossed the $6 billion-mark with respect to Assets under Management (AUM). That’s not all, however, as over the past few years, besides catering to institutional investors, Grayscale has also seen increasing retail demand for crypto-exposure through 401k savings....Read More
Disclaimer: The findings of the following article attempt to analyze the patterns emerging in the short-term Litecoin market and its impact on the crypto’s price Litecoin’s price has been trending lower and lower on the charts, ever since it registered a surge between 13 and 17 August. In fact, LTC’s price peaked at $69.15 on...Read More
The Barstool Sports founder turned stock trader appears to have been prematurely stung by the highly volatile world of Bitcoin trading. Portnoy, who has recently expressed a lack of knowledge on crypto, tweeted a video on August 21, stating that he was ‘getting killed on Bitcoin right now.’ $25,000 Loss In a follow-up tweet, the...Read More
Most of the cryptocurrency market is in red today. Bitcoin tanked to $11,400 briefly, but large-cap alts are losing more substantial chunks of value, thus helping BTC to reclaim some ground in terms of market domination. Bitcoin Drops Further BTC looked promising yesterday as the asset headed for another face-off with its well-known nemesis at...Read More
Chainlink’s growth recently, especially in the month of August, has largely been parabolic, with many in the community under the belief that it may replicate Ethereum’s incredible price appreciation from 2017. It’s not hard to see why these people have these expectations as following its most recent surge, LINK shocked everyone after it climbed as...Read More
Bitcoin’s price had seen a four-day decline of over $1150, while the altcoins suffered even harder. Despite that Bitcoin is currently trading around the consolidation range from a week ago, we cannot ignore this week’s false breakout to $12,500. This turned to be a fake-out, and the bearishness that came out of this is clearly...Read More
At the time of writing, Bitcoin’s dominance stood at 59.5%, with the same having fallen significantly over the past few months despite the fact that the world’s largest cryptocurrency climbed to new heights in 2020. This has been the case because many of the market’s altcoins have surged on the charts too. However, when Bitcoin...Read More
