Strong bullish currents have been the norm across the crypto-market lately, with Bitcoin not being the only crypto-asset breaching ATHs consistently. In fact, hot on the heels of BTC, Ethereum, Chainlink, and Binance Coin have also registered their own new highs. Thanks to its correlation with the world’s largest cryptocurrency, it’s no surprise that Litecoin...Read More
After consolidating above $20 for a prolonged period of time, Chainlink has finally managed to breach the $30-price level, checking off another valuation target for the year 2021. In fact, in the year 2021 alone, Chainlink has surged by close to 172%, with the crypto recording YTD returns of 132%, at press time. In the...Read More
It’s been a good few days for the cryptocurrency market. While Bitcoin, the sector’s leading cryptocurrency, has surged on the charts to touch a new ATH on the back of a Tesla-fueled hike, altcoins such as DOT and ADA have arguably outperformed BTC with their own price performances. What’s more, according to many, exchange tokens...Read More
Bitcoin’s price has rebounded from the correction that followed the new ATH and the asset is now trading close to $48000, well on track for price discovery beyond the ATH. As the price continues rallying, a total of $602 Million worth of Bitcoin short positions got liquidated in the aftermath of the Tesla news. If...Read More
According to data from XRPscan, in the past two days, co-founder of Ripple, Jed McCaleb moved roughly 40 million XRP from his “tacostand” wallet, which was named and activated when McCaleb was still working with Ripple. The former tech chief is very active when it comes to selling his XRP; a fact earlier noted by...Read More
Exchange Bitcoin reserves have dropped steadily to correspond with the cryptocurrency’s price rise, with the number of Bitcoin withdrawals from exchanges recently climbing to a 3-year high. This is an incredibly bullish sign during a bull run. It is safe to say that Tesla’s latest purchase has fueled the price rally and it may be...Read More
Bitcoin’s rally has taken some interesting turns this market cycle. In fact, despite a minor correction to the $45000-level, there is a lot of bullish sentiment among traders. This can be attributed to institutional demand and the anticipation of further demand since Twitter has expressed an interest in buying Bitcoin off its balance sheet, post-Tesla’s...Read More
Bitcoin’s value has doubled since 2017. In fact, according to many, it was only a matter of time before this happened, with each of the crypto’s fundamental metrics improving as well. Of late, however, its initial objective of processing payments seems to be noting higher efficiency too. According to blockchain.com, the Bitcoin network’s payments efficiency...Read More
After recording yet another ATH on the charts, one well beyond $1,800, Ethereum currently has its eyes set on the $2,000-mark. While quite a few of its on-chain metrics are flashing positive signs, other noticeable concerns are creeping up as well. The culprit here, according to many, is a familiar foe (fee*). Source: Coinstats Ethereum...Read More
The effects of Elon Musk’s tweets and Twitter bio update have been felt throughout the Bitcoin community, with the crypto’s price responding to the same in the last 72 hours. In fact, in a 24-hour period alone, Bitcoin’s price hiked by over 18 percent, a hike fueled by Musk’s tweets and institutional demand. In response...Read More
Bradley Sostack, the lead plaintiff in a class-action lawsuit by investors against Ripple, has now moved to demand all of Ripple’s email communications with the SEC concerning XRP. The motion filed by the lead plaintiff’s counsel, if granted, will compel Ripple to produce “improperly withheld email communications and document retention policies.” The lawsuit, which was...Read More
The narrative has been very similar for the market’s top-two digital assets over the past couple of months. Relishing the scale of bullish momentum in the market, Bitcoin investors turned up the buying pressure over the last 24-hours after Tesla announced its 7.7% capital reserve investment. In fact, just a few hours later, Bitcoin climbed...Read More
U.S President Joe Biden’s administration is looking forward to fast-track its coronavirus relief plan with a third round of stimulus checks worth $1,400 for each U.S citizen. If the proposed plan is executed, it will be a $1.9 trillion bill, over and above the previous stimulus plans already in play. While these relief checks are...Read More
Tesla’s latest purchase of Bitcoin worth $1.5 billion, assuming that it was purchased at $39,000 per Bitcoin, amounts to a total of 38,000 Bitcoins. Soon after the news was made public, the market’s retail traders responded to this purchase by flocking to the said purchase and increasing demand on spot and derivatives exchanges. CryptoQuant CEO...Read More
In what is more good news for the crypto-ecosystem, Ethereum, the world’s largest altcoin, surged past yet another milestone on the price charts, with ETH breaching the $1,800-mark to post a new ATH. Corresponding to the price hike, ETH’s market cap also exceeded $200 billion for the first time recently. It should be noted, however,...Read More
Bitcoin’s market has been open to volatility since the beginning of the year, with the digital asset surging substantially on the charts since. In what is yet another milestone for the cryptocurrency, BTC breached the much-anticipated $45,000, $46,000, and $47,000-marks a few hours ago, going on to touch a new ATH of over $47,000 on...Read More
The CME Group has opened its doors to its much-anticipated Ethereum futures after the ETH futures contract went live at 6 p.m ET on February 8th for its first trade. According to the website, the futures opened at $1604, and the real-time index was currently around $1648. Source: CoinStats The CME futures are cash-settled and...Read More
Electric-car manufacturer Tesla has according to its SEC filing acquired $1.5 billion worth of Bitcoin. According to reports the company has mentioned that it intends on diversifying its cash reserves by investing in digital assets along with investments in gold and gold ETFs. Bitcoin’s price saw increased bullishness last week when the CEO of Tesla...Read More
The explosive growth of DeFi assets was for all to witness back in Summer 2020, and the narrative is picking traction yet again. Back in 2020, Yearn Finance or YFI was leading the rally but now other assets are picking up popularity points as well. However, the trend might be shifting towards a collective exposure...Read More
Who would have thought that DOGE would see the hike we witnessed in the past seven days? The joke coin meant to make fun of the crypto economy was trading at $0.04 with a 4.7% hike in the last hour. The surge could be due to Elon Musk shilling DOGE today. Doge — Elon Musk...Read More
To best understand the crypto-space, it is also important to understand the notion of competition that drives it. Like the emergence of “Ethereum Killers” over the past few years, the DeFi space too is seeing protocols and projects going head to head, trying to one-up each other. Uniswap, one of the pioneers of the Automated...Read More
Over the past year, portfolio diversification has been an ardent topic of discussion. The rise of Bitcoin led to various debates about its inclusion in present-day investment holdings. While many traditional analysts are skeptical of a massive allocation for the crypto, some Bitcoin proponents would come across as over-ambitious putting 100% of their capital in...Read More
The price of Ether is still climbing. On 4 February, the world’s second-largest crypto asset by market cap breached another all-time high. Ether was trading well above $1,600 range, priced at $1,614.16 at press time, across all major crypto exchanges. In the past 24 hours, Ethereum hiked by 5%. Source: Trading View The phased upgrade...Read More
Months before the commencement of the bull run in December 2020, DeFi was receiving all the attention in the summer. Decentralized applications were building a new financial system on Ethereum, and the demand for block space on ETH was rapidly increasing. Soon, yield farming became a common term and the popularity of DeFi triggered further...Read More
Over the past couple of months, there has been a lot of discussion around how the Bitcoin rally is currently being driven by whale traders and institutions. The inclusion of long-term hodlers also comes into the picture, but from the perspective of long-term growth, widespread adoption remains vital. Amidst the current rally, keeping track of...Read More
MicroStrategy has been buying consistently throughout Bitcoin’s journey to $40,000 and beyond. What’s different this time, however, is that as of 31 January, cumulative treasury holdings captured a total of 5.85 percent of Bitcoin’s supply. So, how will this influence the current market cycle and the next? Source: Ecoinometrics Before adding Bitcoin to its balance...Read More
If we entertain entities like Robinhood, Coinbase, and SushiSwap in the same bracket, it would hardly make sense to an average listener. After all, these are independent organizations running on their own accord. However, the concept of ripple effect is sound, and currently, something similar might be unraveling in the financial industry. Let us start...Read More
Ethereum’s price tested its resistance level for a few weeks, before hitting a new all-time high of $1,540 on the charts, based on data from Santiment. In fact, at the time of writing, on-chain and technical analysis pointed to a short-term top ahead of the CME Futures listing. Another positive sign observed on the charts...Read More
On 2 February, Ethereum reached a new all-time high above $1,500, across major exchanges, just days before the launch of the CME Ethereum futures contracts, which is slated for 8 February. The surge in price could have been a result of several positive announcements about the second-largest crypto by market cap. Source: TradingView Recently, asset...Read More
Indecisiveness is the current market sentiment for Bitcoin. While some metrics indicate that a 2nd bullish rally might be incoming, other factors are suggestive of further corrections. With Bitcoin continuing to consolidate in the mid-$30k range, the reset of certain metrics and accumulation activity might project a potential change in the crypto’s price. Grayscale is...Read More
