When stories of Bitcoin millionaires began to emerge alongside the asset’s rally, Ether’s users also had a tale or two to share. An anonymous hodler who bought Ether, when it was trading at $2, is apparently “fully out of the game.” The trader who goes by the handle “u/FollowMe22” on Reddit apparently sold Ether recently....Read More
Bitcoin Cash, Synthetix, and Algorand posted losses over the past few hours as Bitcoin saw a wave of selling pressure. The defense of $32,000 for Bitcoin, or the lack of defense, would have a major impact on the altcoin market as well. Bitcoin Cash [BCH] Source: BCH/USDT on TradingView BCH formed a descending triangle pattern...Read More
Polkadot price was showing good buying pressure even though it hit a new ATH at $19.5. The price consolidated for almost 3 days before it proceeded to surge a whopping 18.86% in a single 4-hour candle. However, this surge was put to a halt as Bitcoin began falling on the charts. As a result, Polkadot’s...Read More
For the third time, China’s southeastern city of Shenzhen will issue the nation’s digital currency as part of an ongoing pilot program to test China’s central bank project among its citizens. Authorities will giveaway digital currency in the “red envelopes” event, which will be worth 200 yuan (about $31) each, through a random draw. In...Read More
Bitcoin’s dominance is currently at 64.8% in comparison to 2017 in which its dominance was over 68%. The current crypto market cap is well distributed among top altcoins and stablecoins. After the price rallies in the current market cycle, nearly 100% of crypto wallet addresses are profitable. However, the same doesn’t hold true for altcoins...Read More
Litecoin was under short-term bearish pressure and was likely to head toward the $135 level of support over the next few hours. Dash was on the verge of losing $113 as a level of support as it saw a wave of selling pressure rise and FTX Token showed a dip in buying volume, even as...Read More
On-chain liquidity protocol, Kyber Network announced a host of improvements to its architecture primarily due to a proposed upgrade to Kyber 3.0, which will transition “Kyber from a single protocol into a hub of purpose-driven liquidity protocols.” According to a blog post, Kyber’s architecture change will be implemented in two phases dubbed Katana and Kaizen,...Read More
Thanks to its overwhelming dominance and market share, Bitcoin’s performance on the charts is bound to affect the performance of the market’s altcoins. At press time, the king coin was trading at $34,811 with a trading volume of 40.5 billion. Source: CoinStats BTC’s insistence on consolidating below the $37,000-mark for most of the week pinched...Read More
Binance Coin like every other altcoin is undergoing a correction that has caused a drop of 14% in 48 hours. By the looks of it, this drop will continue, at least until Bitcoin stops crashing. However, Bitcoin whales are depositing their holdings on exchanges suggesting that the whales might not stop anytime soon. Hence, BNB...Read More
Is Ethereum recovering from the correction post the new ATH or approaching a sell-off? This is a burning question for many retail traders as the bloodbath across the altcoin market continues. Ethereum was ranking #1 in terms of transaction volume, though the asset beat Bitcoin to it, the top driving factor was the social volume...Read More
After weeks of bullish movement, it would seem that Bitcoin is finally consolidating on the price charts. Interestingly, due to the high correlation most of the market’s altcoins share with the world’s largest cryptocurrency – BTC, altcoins such as Tezos, BAT, and Zcash mirrored its movement. However, these cryptos didn’t do so equally, especially since...Read More
Over $3 billion worth of ETH is now staked in ETH 2.0, representing 2% of the total supply of ETH in existence. Vitalik Buterin called this the ‘ultimate bet on progress’ as over 4800 users have now deposited 32 ETH or more. However, data from etherscan reveals that 31.2% of deposits come from Exchanges and...Read More
Ethereum’s price rally was in full swing, before the 5.9% drop in the past 24 hours. The price has dropped from the ATH and Ethereum is now trading at the $1300 level. Nearly all cryptocurrencies are bleeding currently, including Bitcoin, with a massive 24-hour price drop of 5.2%. This hasn’t affected the sentiment of retail traders...Read More
Bitcoin price crashed by around 7.7% as of Thursday after experiencing a similar crash of 9.5% the day before. Unlike yesterday, today’s crash seems to be whales dumping their holdings and this is happening on Coinbase. Bitcoin price crash: What caused it? Source: CryptoQuant Bitcoin whales have begun depositing their holdings on to exchanges since...Read More
XRP tested the $0.3 level of resistance repeatedly, and flipping this level of resistance to support would be a significant development for the bulls. EOS showed neutral short-term momentum as it traded above a level of support. IOTA climbed past $0.45 and targeted the $0.54 level of resistance. XRP Source: XRP/USD on TradingView XRP has...Read More
According to reports, ETH miners raked in nearly 20K ETH in gas fees last week on top of block rewards. This was largely due to Ethereum’s price rise over the past few weeks as the cryptocurrency recorded gains of over 108% since last month. In fact, ETH is poised to become even more valuable going...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice The past week has seen Cardano trade between the $0.32 and $0.385 price range. Levels of importance within this range are highlighted and the short-term outlook for the coin appeared to take a turn...Read More
Ethereum reached its two-year highs at $1440 but was unable to push past. Climbing above $1450 would set $1625 as a target for bulls while falling beneath $1290 could see ETH revisit the $1150 support level. On the other hand, Monero showed bearish momentum and was trading just above a crucial level of support while...Read More
Ether finally broke an all-time high, surpassing $1,428 on 19 January and many traders expected the asset to continue reaching new ATHs. However, ETH has been down by about 11.9 % in the last 24 hours and was trading at $1,254.95 at press time. But this analyst at Fundstrat Global shared a bullish prediction about...Read More
Since the launch of Shelley in July 2020, implementing Goguen, the next era of the Cardano blockchain, has been the focus of the Cardano Foundation. However, the much-anticipated launch is still yet to be scheduled – something that may come down to the technical difficulties associated with executing it. The subject was touched upon by...Read More
After suffering its first weekly loss since September 2020, Bitcoin failed yet again to consolidate its position above the $36,500-mark. From a low of $33,833 on 17 January, Bitcoin rallied to breach the $36,300-$36,500 range on the charts. However, this was brief, and the crypto-asset soon re-traced back under its resistance level. Source: BTC/USD on...Read More
Bitcoin‘s price was trading at $35,500 after a correction of 7% in 24 hours, at press time. However, such a correction might just be the beginning of a much larger correction, one that might push BTC to $25,000. Although a lot of investors are in disbelief about the bull run and are expecting it to...Read More
Chainlink and Aave moved south after touching record levels as losses in the broader market had a negative effect on their prices. Further, Compound too flashed red, at press time, after a breakout was witnessed from its rising wedge pattern. Chainlink [LINK] Source: LINK/USD, TradingView After touching record levels, Chainlink’s price cooled down and fell...Read More
When it comes to investing in Bitcoin, investors are always trying to calculate a correct entry. Whether it is at the start of a bull run or at the start of a correction, the debate is always on. While the endgame remains to make a profit, the idea of stacking sats is also predominantly based...Read More
Bitcoin Cash eyed a move towards the $469.4-support level as the price moved south from its 20-SMA and 50-SMA. SNX registered a correction after the price fell by over 9% following its all-time high. Finally, ONT moved south from an ascending parallel channel and targeted the $0.591-support level. Bitcoin Cash [BCH] Source: BCH/USD, TradingView Bitcoin...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Unlike Bitcoin, Ethereum‘s price is having trouble staying close to its ATH on the charts. This can be evidenced by the fact that ETH’s price has dropped by over 10% since it closed in...Read More
European Commission and European Central Bank (ECB) have come together to issue a joint statement about the possibility of issuing a digital euro. Both entities reiterated the fact that the digital currency, if and when launched, will complement cash and “payment solutions supplied by the private sector.” ECB and EC are both pursuing “their efforts”...Read More
When the third halving took place on 11 May 2020, Bitcoin and Gold were correlated. Today, on the 12th day since Bitcoin hit a new ATH on the price charts, Bitcoin and Gold are uncorrelated. The reversal in the said correlation is incredible, but there is a historical precedent here too. After all, this is...Read More
It’s been a good 12 months for the DeFi ecosystem. Not only did the sector’s TVL climb to exponential heights, but its total market cap ($16.5 billion) also overtook that of XRP’s ($10.66 billion) recently, according to data from Messari. In fact, the last few weeks also saw XRP, one of the old stalwarts of...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Bitcoin’s price was trading above $35,000 at press time, with the cryptocurrency aiming to head higher as it bounces off a consolidation pattern on the charts. This pattern suggests that the consolidation might keep...Read More
