Bitcoin, the world’s largest cryptocurrency, seemed to be on a bullish trajectory yet again, at the time of writing. This, despite the fact that for long, BTC has been accused of being either too volatile or moving too sideways. While the analysis drawn out over the past few months has alternated between derivatives impact, on-chain...Read More
In what is big news for the community, Curve and Matter Labs have announced that they have taken the next big step towards scaling Ethereum – a zkSync L2 smart contracts testnet with Curve Finance as the first resident DApp. Ethereum’s L2 is on 🔥! @the_matter_labs and @CurveFinance teams are excited to unveil the first...Read More
At press time, Ethereum had rocketed from $350 to $374 within 24 hours, in a move that boded well for the rest of the altcoin market. In fact, the general bearish sentiment around altcoins appeared to have swung to welcome a more bullish outlook. Stellar Lumens and NEM showed strong signs of bullishness, while DigiByte...Read More
Xunlei, a $220M-worth Nasdaq-listed cloud computing and blockchain company based in China, is at the center of a controversy after the company announced that its former CEO, Chen Lei, was under police investigation for dereliction of duty and embezzlement. Lai is also accused of misappropriating tens of millions of yuan over the past year in...Read More
A breakout above a crucial resistance level, maybe is witnessed for Ontology soon. A rising valley formation was hinting towards a price rise in the short-term. While for Polkadot the price action during the course of the day has been bullish. For Cosmos, the overall picture remained bearish with an eventual slide to its immediate support...Read More
At the time of writing, Bitcoin, the world’s most dominant cryptocurrency, was consolidating on the charts, with BTC attempting to cross the much-anticipated $11,000-mark again. This will be Bitcoin’s latest attempt after the crypto failed to breach the level last time. At the time, not only did BTC drop on the charts, but so did...Read More
Daily charts showed bearish momentum in the market, with some digital assets settling just above key support levels. DASH and Stellar Lumens, ahead of a major downward move, were seen trading at their supports. While Litecoin, still waiting to claim its immediate support, might face an uncertain weekend in terms of its price action. High levels...Read More
80% of institutional investors believe that the recent Coronavirus-led quantitative easing policies adopted by Central Banks and governments could lead to a rise in inflation. In the next five years, most institutions would turn to Bitcoin to hedge against currency devaluation. Based on Evertas’s recent research report on institutional investment in crypto, between now and...Read More
Despite Bitcoin losing significant market share over the past six months, the world’s largest cryptocurrency continues to share a high correlation with the market’s altcoins. The same was evident when many of these altcoins fell on the back of Bitcoin’s own depreciation over the course of 1-2 October, with the likes of IOTA and CRO...Read More
It seems like the market is finally turning a little bullish. Bitcoin pushed its own price above $11k and other altcoins were appearing to push their respective valuations as well. Bitcoin SV has registered 3 consecutive green candles over the past three days, taking its valuation above $165. With the trend reaching a possible breakout...Read More
Most digital assets recorded positive gains on their daily charts today, as the bulls controlled the market. Bitcoin Cash and EOS remained delicately poised just under their resistance levels following a week-long consolidation. DigiByte, on the other hand, having breached its resistance was in for another possible bullish move over the weekend. Bitcoin Cash [BCH]...Read More
The current regulatory concerns around Bitcoin must be paid close attention to, especially for the individuals in the countries that have unclear regulations. Recently, the Financial Conduct Authority [FCA] banned the sale of derivatives and exchange-traded notes (ETNs) that reference certain types of crypto assets to retail consumers. This news was worrisome for many as it...Read More
Disclaimer: The following article attempts to analyze the impact of emerging patterns on the Ethereum short-term market and its price. A sudden surge in the market yesterday pushed the price of most major digital assets higher, including Ethereum [ETH]. The boost in the price of ETH carried it from $334 to $353, and after some...Read More
In the wake of regulatory concerns, seven central banks have come together and released a report identifying the “foundational principle necessary for any publicly available CBDCs to help central banks meet their public policy objectives.” The report titled, Central bank digital currencies: foundational principles and core features, compiled by the participating banks like the Bank...Read More
Bitcoin has finally managed to surpass the resistance at $11k, at press time and was valued at $11,045. There has been a push and pull in the price of the digital asset but at the time of writing the value of the digital assets seemed to hold above the $11k, price level. Source: BTC/USD on...Read More
In collaboration with the Peoples Bank of China (PBOC), Shenzhen plans to distribute $1.5 million worth of its Central Bank Digital Currency (CBDC) – the digital yuan. Adopting a promotion strategy similar to that of a surprise airdrop, the giveaway will be distributed to 50,000 recipients through a lottery system. According to reports, each distribution...Read More
Prime Trust, the API-enabled B2B financial solutions provider has announced the addition of Stellar Lumens ($XLM) to their list of supported cryptocurrencies. The addition of XLM comes in response to the overwhelming demand customers have expressed. XLM 24-hour Price Chart Source: CoinMarketCap XLM was trading at $0.073 at the time of writing, up 2.00% in...Read More
BitMEX CTO Samuel Reed, who was charged and arrested by the U.S. Department of Justice on October 1, has been released on a $5 million appearance bond. Source: USDOJ Reed, was arrested on charges of violating the Banking Secrecy Act (BSA) and “willfully failing to establish, implement, and maintain an adequate anti-money laundering (‘AML’)” at...Read More
The Bitcoin market seemed to be consolidating again, following the trend it last witnessed back in June-July 2020. Generally, long-term investors consider the interpretation of the market as noise, but for derivatives traders, this could be the time to pay attention as contracts roll and Options expire. The Chicago Mercantile Exchange was in the news...Read More
Bitcoin and Gold, just a few weeks ago, were noting what some would call “unnaturally high” levels of correlation– a figure of 73.6%. However, the said correlation soon dipped on the charts, with the BTC-Gold correlation registering a figure of -28%, at the time of writing. Source: Skew That’s not all, either, since at the...Read More
Over the last one week, Ethereum registered poor daily returns that lowered the cryptocurrency’s valuation by more than 6%. The same was noted across the market after Bitcoin, the world’s largest cryptocurrency, too noted a decline on the charts. While such bearishness continued to persist, at press time, altcoins such as NEM and Zcash were...Read More
October hasn’t really been favorable to the digital assets industry, with many of the market’s assets struggling to keep up with bearish pressure. With Chainlink staying close to its $10-valuation on the charts, many in the community are expecting the cryptocurrency to drop further. In fact, recent analysis suggests that another breakout might take place...Read More
It is a known fact that Bitcoin has wiped the floor with all the other traditional assets in 2020. High turbulence notwithstanding, Bitcoin was still up by 48 percent at press time, a figure that was higher than Gold, the S&P 500, and WTI. Interestingly, one particular asset class has been rubbing shoulders with the...Read More
Disclaimer: The following article is the sole opinion of the writer and should not be considered as investment advice While the collapse on 1-2 October seemed brutal for most of the market’s crypto-assets, Litecoin has continued to maintain strong sideways movement between the ranges of $47.13 and $45. In fact, while LTC has breached its resistance...Read More
So, MicroStrategy bought millions of dollars worth of Bitcoin, without moving the price in any direction. Isn’t that a little surprising? At least for an asset where manipulation is said to be easy and present on a huge scale. It is weird how the news of a publicly-stated company buying $425 million worth of Bitcoin...Read More
Bitcoin is worth much more than what it is today. That’s not a rhetorical statement; in fact, it’s a practical one. If the metric you’re measuring Bitcoin against is potentially infinite, then to put a finite value of $10,600 on a cryptocurrency which has a fixed supply doesn’t make sense. Every fiat currency can be...Read More
Disclaimer: The following article attempts to analyze the emerging patterns in Tezos’ long-term market and its impact on the price The recent fall in Bitcoin’s price did not have much of an impact on the Tezos market as the cryptocurrency was already on a trajectory going south. The crypto-asset’s value has been crumbling since mid-August,...Read More
After months of hype and activity, the DeFi space is finally facing some tough questions. This, after the space noted major price corrections over the past week, with the top ten DeFi assets sustaining an average loss of 23.4% and losing an average value of 27.44% over the past month. Source: DeFi Pulse Here, it...Read More
Popular crypto-exchange BitMEX today announced a significant change in leadership, a step that comes over a week after the CFTC filed charges against it. According to the announcement, the changes will be made with respect to the leadership of the 100x group, the holding group for HDR Global Trading Limited, owner and operator of the...Read More
Bitcoin SV appeared to undergo a trend reversal, at press time, as its bullish price momentum pushed the cryptocurrency’s price above its immediate support and pivot levels. On the contrary, with a persistent downtrend, a bearish outlook was evident for Synthetix after it lost control of two resistance levels. Maker was at the end of...Read More
