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Tag: Bitcoin

What Is a Digital Signature in Bitcoin

Posted on January 25, 2023 By Rahul Mantri

Digital Signature in Bitcoin

A digital signature is a cryptographic method used to ensure the validity and integrity of digital data. We can think of it as a digital equivalent of a traditional handwritten signature, but with more complexity and security.

Simply put, a digital signature is a code linked to a message or document. Once formed, the code verifies that the communication was not tampered with on its journey from sender to receiver.

Although the notion of utilizing cryptography to secure communications stretches back to ancient times, digital signature systems became possible in the 1970s, owing to the advent of Public-Key Cryptography (PKC).

To understand what a digital signature is in bitcoin and how it works, we must first grasp the fundamentals of hash function and public-key cryptography.

So without further ado, let’s get started!

Key Takeaways

  • Digital signatures in Bitcoin are used to prove the authenticity of transactions and the ownership of the funds being transferred.
  • Bitcoin uses Elliptic Curve Digital Signature Algorithm (ECDSA) to generate a unique signature for each transaction.
  • The signature is included in the transaction data and verified by other nodes in the network before the transaction can be added to the blockchain.
  • Digital signatures help to ensure that a transaction has not been tampered with and was initiated by the owner of the private key associated with the public address used in the transaction.
  • Digital signatures in Bitcoin are an essential aspect of public key cryptography, a fundamental technology underlying the security of the Bitcoin network.

What Is a Digital Signature?

A digital signature is a mathematical technique used to validate the authenticity and integrity of a message or a digital document. It’s an asymmetric encryption technique that uses a private key to encrypt a hash of the document and a matching public key to decrypt it. 

What Is a Digital Signature?

This enables the document’s recipient to confirm that the information in digital messages has not been tampered with and was sent by the stated sender. By encrypting the entire message with the recipient’s public key, we can ensure that only the recipient, who is in possession of the corresponding private key, can read the message. We can also verify the user’s identity using the public key and check it against a certificate authority.

Digital signatures are extensively employed in electronic communications and online banking to assure the validity and integrity of the information being transmitted.

Hash Function

Hashing is a key component of the digital signature system. The Cybersecurity and Infrastructure Security Agency (CISA) defines a hash function as:

A fixed-length string of numbers and letters generated from a mathematical algorithm and an arbitrarily sized file such as an email, document, picture, or other type of data. This generated string is unique to the file being hashed and is a one-way function—a computed hash cannot be reversed to find other files that may generate the same hash value.

A hash function can be used to convert an arbitrary input into the proper format. When paired with cryptography, cryptographic hash functions can provide a hash value (digest) that serves as a unique digital fingerprint. This means that every modification in the input data (message) results in an entirely new outcome (hash value). As a result, cryptographic hash functions are commonly utilized to validate digital data.

Public-Key Cryptography (PKC)

Public-key cryptography (PKC) is a cryptographic technique that employs a public key and a private key. The two keys have a mathematical relationship and can be utilized for data encryption as well as e-signatures.

PKC is a more secure encryption technology than symmetric encryption algorithms. Unlike prior systems, which used the same key to encrypt and decrypt data, PKC allows for data encryption with the public key and data decryption with the associated private key.

Additionally, the PKC method can be used to generate an e-signature. In essence, the process involves hashing a message (or electronic data) along with the signer’s private key. The recipient of the message can then use the signer’s public key to validate the signature.

Digital signatures may require encryption in some circumstances, although this is not always the case. For example, the Bitcoin blockchain employs PKC and digital signatures; however, contrary to popular belief, no encryption is involved. Bitcoin uses the so-called Elliptic Curve Digital Signature Algorithm (ECDSA) to authenticate transactions.

Fast Fact

1. The first digital signature algorithm called the “Diffie-Hellman Key Exchange,” was proposed by Whitfield Diffie and Martin Hellman in 1976.
2. RSA, invented in 1977 by Ron Rivest, Adi Shamir, and Leonard Adleman, is the most commonly used digital signature algorithm.

How Do Digital Signatures Work?

Digital signatures use a combination of public key cryptography and hashing. The process typically involves the following steps:

  1. The entity sending the electronic document uses a private key to create a hash of the document, i.e., a fixed-length string of characters representing the document’s contents.
  2. The sender then uses their private key to encrypt the hash, creating the digital signature.
  3. The digital signature and the digitally signed document are sent to the recipient.
  4. The recipient uses the sender’s public key to decrypt the digital signature, and this gives them the original hash of the document.
  5. The recipient then uses the same hash algorithm to create a new hash of the received document.
  6. The recipient then compares the newly created hash with the decrypted hash from the signature; if both are the same, it implies that the document has not been tampered with.
  7. The sender’s public key is also used to verify that the signature was created by the claimed sender and not an imposter.

In this way, digital signatures ensure the authentication and integrity of a digital document, verifying that it has not been tampered with and was transmitted by the stated sender. Hence, a digital signature refers to a more secure electronic signature generated using a digital certificate and cryptographically bound to the document using public key infrastructure (PKI).

Digital Signature in Blockchain

Digital signatures play a crucial role in establishing trust in the blockchain. In a blockchain network, transactions are grouped into blocks and added to a chain of blocks in a linear, chronological order. Each block contains a list of transactions, along with a digital signature, called a “hash,” that links it to the previous block in the chain.

This signature, called a “nonce” is a number generated by the miner creating the block and is added to the block header, which is then hashed. The miner is trying to find a nonce that will result in a specific pattern of leading zeroes in the block hash.

All parties using digital signature technology must have faith that the person who created the signature maintains the private key secret. If malicious actors gain access to the private key, they can forge digital signatures in the private key holder’s name. Using digital signatures along with PKI or PGP reduces the possible security issues connected to transmitting public keys by validating that the key belongs to the sender and verifying the sender’s identity. The security of a digital signature depends on protecting the private key. Moreover, without PGP or PKI, proving someone’s identity or revoking a compromised key is impossible.

Pro-Tip: Certificate Authorities (CAs), a type of Trust Service Provider, are widely accepted as reliable organizations for ensuring key security and providing the required digital certificates. The certificate is used to confirm that the public key belongs to the specific organization. Both the entity sending the document and the recipient signing it must agree to use a given CA.

Digital Signatures in Bitcoin

https://youtu.be/hv-nz8jJlTA

A digital signature in Bitcoin is a mathematical algorithm that uses cryptography to verify the authenticity of a transaction. It allows a Bitcoin user to prove they are the owner of a particular public address with authority to transfer the funds associated with that address. Digital signatures in Bitcoin use the Elliptic Curve Digital Signature Algorithm (ECDSA) to generate a unique signature for each transaction. This signature is included in the transaction data and is verified by other nodes in the network before the transaction can be added to the blockchain.

For example, if ‘X’ wishes to transfer ‘Y’ 1 bitcoin, X must sign a transaction using its private key and submit it to network nodes. Miners having the ‘X’ public key will then examine the transaction conditions and validate the signature. When the legitimacy of a transaction is confirmed, the block containing that transaction is available for finalization by a validator/miner.

What Is a Bitcoin Transaction?

A Bitcoin transaction is a transfer of bitcoin from one address to another that is recorded on the Bitcoin blockchain. It consists of one or more inputs and one or more outputs and includes a digital signature to authorize the transfer. The inputs specify the addresses and amounts of bitcoin being transferred, while the outputs specify the addresses and amounts of bitcoin being received. Once a transaction is included in a block that’s added to the blockchain, the transaction is confirmed, and the transferred bitcoins are considered spendable.

How Do Bitcoin Transactions Work?

Let’s take the example of Alice and Bob to learn what happens inside transactions and about cryptography usage in Bitcoin.

The diagrams below depict Alice sending satoshis to Bob and Bob spending them. Alice and Bob will utilize the most popular Pay-to-Public-Key-Hash (P2PKH) transaction type. P2PKH allows Alice to send satoshis to a standard Bitcoin address and Bob to spend those satoshis using a simple cryptographic key pair.

Later, Bob chooses to spend Alice’s UTXO:

Bitcoin Mining and Proof-Of-Work Consensus Mechanism

Bitcoins are generated via mining. To generate a block on the blockchain, a miner must solve a complex cryptographic problem, and the answer is a sequence of integers included within the block known as the nonce. This method of determining the nonce is known as Bitcoin mining and involves many miners worldwide.

Bitcoin mempool collects an unconfirmed transaction until it’s processed and added to the block. There are several fixed criteria for the block, such as the previous block hash, the characteristics of transactions in the current block, etc. The nonce is the sole parameter that can be modified. The miner’s duty is to identify the nonce that will allow the candidate block to meet the difficulty target. The only method to get the nonce is to attempt several nonce values, compute the hash of the new block (last block hash id | block with transactions | nonce, where ‘|’ indicates concatenate), and see if the hash meets the difficulty threshold (get a string that has a certain number of zeros).

The miner’s responsibilities are as follows:

Bitcoin’s Proof-of-Work consensus employs two successive SHA-256 hashes, where the first 32 of 256 hash bits must initially be zero. However, the Bitcoin network changes the difficulty level regularly to maintain the average pace of block generation at 10 minutes.

Electronic Signatures vs. Digital Signatures

Digital signatures are a type of electronic signature used to sign documents and messages. A digital signature can be expressed digitally in electronic form and associated with the representation of a record. While all digital signatures are electronic signatures, the contrary is not necessarily true.

The key distinction between them is the authentication technique. Such cryptographic technologies as hash functions, public-key cryptography, and encryption methods are used in digital signatures.

E-signatures are also defined in the Electronic Signatures Directive, which the European Union (EU) passed in 1999 and repealed in 2016. It regarded them as equivalent to physical signatures. This act was replaced with eIDAS (electronic identification authentication and trust services), which regulates e-signatures and transactions. eIDAS defines the 3 levels of electronic signatures: an electronic signature (sometimes referred to as a “simple” signature), an advanced electronic signature (AdES), and a qualified electronic signature (QES). AES adds identity verification, requiring signatures to be uniquely linked to the signatory and capable of identifying the signer. The signature record can show evidence of tampering. QES requires face-to-face identity verification or the equivalent.

The United States passed the Electronic Signatures in Global and National Commerce Act (ESIGN) in 2000.

Many governments and corporations also use smart cards to ID their citizens and employees.

What Are the Benefits of Digital Signatures?

Now that we have a general idea of a digital signature, let’s learn about its advantages! The main advantage of digital signatures is their security. Digital signatures comply with regulations in many countries and provide the highest level of identity assurance when dealing with digital documents.

Digital signatures employ the following security characteristics and methods:

  • Personal identification numbers (PINs), passwords, and codes. They are used to identify and verify a signer’s identity and validate their signature. The most common use cases are email, username, and password.
  • Cyclic Redundancy Check (CRC). An error-detecting code and verification function used to detect changes to raw data in digital networks and storage devices.

  • Asymmetric Cryptography. A public key algorithm comprising a private key and public key encryption and authentication.

  • Certificate Authority (CA) Validation. CAs issue digital signatures and serve as a trusted third party by accepting, verifying, issuing, and maintaining digital certificates. The use of CAs aid in the prevention of the fabrication of a forged digital certificate.

  • Trust Service Provider (TSP) Validation. A TSP is a person or legal entity that validates digital signatures on behalf of businesses and provides signature validation reports.
  • Traceability. Digital signatures create an audit trail to simplify internal record-keeping for enterprises. There are fewer possibilities for a manual signee or record keeper to make a mistake or misplace anything when everything is recorded and saved digitally.

Final Thoughts

Digital signatures can provide evidence of the origin, identity, and status of electronic documents, transactions, or digital messages. Signers can also use them to acknowledge informed consent. The U.S. Government Publishing Office (GPO) publishes electronic versions of budgets, public and private laws, and congressional bills with digital signatures.

Digital signatures are used in the blockchain to sign and approve Bitcoin transactions to ensure that coins are spent by persons with the associated private keys.

Although we’ve been utilizing electronic and digital signatures for years, there is still much space for improvement. While a large chunk of today’s bureaucracy still uses paper documents, we’ll undoubtedly see greater acceptance of digital signature techniques as we transition to a more digitalized system.

You’re welcome to visit our CoinStats blog to get a broader perspective on decentralized finance and how it seeks to empower people. You can also read our articles, such as What Is DeFi, explore our in-depth buying and staking guides on various cryptocurrencies, such as How to Buy Bitcoin, How to Stake MATIC, How to Stake Ethereum, How to Buy Cryptocurrency and learn more about wallets and exchanges, portfolio trackers, etc.

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Brace For Impact? Bitcoin Open Interest RSI Forms Bearish Divergence

Posted on January 4, 2023 By Hououin Kyouma

On-chain data shows the Bitcoin open interest RSI is currently forming a pattern that can lead to a short-term correction in the asset’s value. Bitcoin Open Interest 14-Day RSI Has Been Climbing Up Recently As pointed out by an analyst in a CryptoQuant post, a short-term bearish correction might soon take place for BTC. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts currently open on derivative exchanges. The metric takes into account both long and short contracts. When the value of this metric goes up, it means investors are opening more contracts on derivative exchanges right now. Such a trend could result in higher volatility for the crypto’s price as it implies leverage is increasing in the market. On the other hand, decreasing values suggest holders are getting liquidated or are closing down their futures contracts currently. Naturally, this could lead to a more stable price of BTC due to the lesser leverage. Related Reading: Litecoin Whale Withdraws $32M In LTC From Binance, Good Sign For Rally? Now, the relevant metric in the context of the current discussion isn’t the open interest itself, but its 14-day RSI. The Relative Strength Index (RSI) is a momentum oscillator that keeps track of the speed and direction of changes in any metric’s value over a specified period. The below chart shows the trend in the 14-day RSI of the Bitcoin open interest over the past year: The value of the metric seems to have seen some rise in recent days | Source: CryptoQuant As you can see in the above graph, the quant has highlighted the relevant regions of the trend for the Bitcoin open interest RSI (14). It would appear that whenever the RSI has risen while the BTC price has been moving sideways or downwards, a bearish divergence has formed for the crypto, and its price has undergone a correction. Related Reading: This Needs To Happen For Bitcoin And Ethereum To See A Bullish 2023 There have been other instances of a rising open interest RSI in the past year, but all those were accompanied by a rise in the price itself (and not consolidation or decline) so the same pattern never applied to them. Recently, however, the metric has been once again surging, and this time the price has been moving sideways at the same time, which means the bearish divergence as those earlier instances is now forming. If the trend from the previous occurrences indeed repeats this time as well, then Bitcoin could soon see another short-term correction in its price. BTC Price At the time of writing, Bitcoin’s price floats around $16,800, up 1% in the last week. Looks like the value of the crypto has enjoyed some uptrend in the last few days | Source: BTCUSD on TradingView Featured image from Becca on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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This Needs To Happen For Bitcoin And Ethereum To See A Bullish 2023

Posted on January 4, 2023 By Jake Simmons

The year 2023 is starting off better for Bitcoin and the broader crypto market than last year ended. Even though most crypto prices are still trading in a very depressed, narrow range, BTC is at least showing a year-to-date performance of 1.55% and Ethereum of 4.5%. However, as QCP Capital writes in its latest market analysis, there are early signs that should caution crypto investors. While the gold price is currently performing extremely strongly, the trading firm raises the question of whether this will continue if the expected wave five of the USD rally takes place based on the Elliott wave theory. According to the theory, the fifth wave is the final leg in the direction of the prevailing trend. And a resurgent USD could mean further price losses not only for gold but also Bitcoin and crypto. As QCP Capital elicits, it remains to be seen if this will impact the other alternative asset classes as well. Related Reading: These Altcoins Will Be Hit The Hardest If DCG And Grayscale Fall Currently, total liquidity in the market, as measured by M2 money supply annual growth, has shrunk to 0% for the first time in history. “Not to mention the liquidity within crypto itself which is an even smaller factor of that,” the firm states based on the following chart. 7/ And overall liquidity, measured by M2 YoY growth, has shrunk to 0% for the first time in history! Not to mention the liquidity within crypto itself which is an even smaller factor of that pic.twitter.com/grwcAdPLn6 — QCP Capital (@QCPCapital) January 4, 2023 Price Targets For Bitcoin And Ethereum Nonetheless, Bitcoin and Ethereum are in somewhat of a catch-up rally at the beginning of the year, much like gold. Despite the mini-rally, BTC is still trading in an extremely tight falling wedge, with 18k as the key breakout level on the upside, according to the firm. In the medium-term, $28,000 is looking more and more key – as the head and shoulders neckline, and 61.8% fibonacci retracement level of the $3,858 2020 low to $69,000 2021 high. According to QCP Capital, Ethereum “remains significantly more bullish than BTC,” though ETH is also trading in a consolidation pattern. Investors should keep an eye on the top of the triangle at $1,400 for now, before the key resistance zone between $1,700 and $2,000 could be targeted. On the downside, the company expects $1,000-$1,100 to be a very good support. The Macro Outlook For 2023 Probably decisive for whether 2023 will be a continuation of 2022 will be the macro environment. QCP Capital believes that inflation in the U.S. will fall significantly, but not enough to reach the Fed’s 2% target. This will cause the Fed to delay cutting rates as long as possible, as Jerome Powell does not want to be the guy in charge who makes the same mistake as in the 1970-80s when there was a “double-dip inflation era.” Related Reading: Ethereum Price Gains Momentum, Why ETH Could Rise To $1,300 This will lead to the Fed developing a “blinkered” mentality toward the far better numbers and making another mistake by easing monetary policy too late. “In a sad twist of fate, they will again wait too long and have to go into overdrive again,” the firm claims and concludes: We expect this could only come in Oct-Nov again this year, but remain open minded to markets bottoming sooner than that. At press time, the BTC price stood at $16,847, seeing a slight gain of 0,59% in the last 24 hours. Featured image from Pierre Porthiry-Peiobty / Unsplash, Charts from QCP Capital (Twitter) and TradingView.com

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Argo shares soar following $65M sale of mining facility to Galaxy digital

Posted on December 28, 2022 By Oluwapelumi Adejumo

Struggling Bitcoin (BTC) miner Argo Blockchain sold its Helios mining facility in Texas to Galaxy Digital for $65 million and also got a $35 million loan from the company as part of the deal, according to a December 28 statement.

The post Argo shares soar following $65M sale of mining facility to Galaxy digital appeared first on CryptoSlate.

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Bitcoin hash rate falls 13% in one day, mining difficulty estimated to drop 10%

Posted on December 28, 2022 By Oluwapelumi Adejumo

Bitcoin’s (BTC) hash rate fell 13% on December 27 to 202.17 EH/s from around 240 EH/s recorded on December 26.

The post Bitcoin hash rate falls 13% in one day, mining difficulty estimated to drop 10% appeared first on CryptoSlate.

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Japanese Gaming Company Gumi Partners With Square Enix and SBI Holdings to Strengthen Metaverse Pivot

Posted on December 28, 2022 By Sergio Goschenko

gumi metaverse square enix SBI holdings japanGumi, a Japanese mobile gaming company, has partnered with Square Enix and SBI Holdings to build new business opportunities around the metaverse. The deal, which also includes the issuance of new stock valued at $52.7 million dollars, will allow the company to acquire financial and content creation experience. Gumi Raises $52.7 Million in Metaverse-Driven Alliance […]

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Bitcoin shrimps have accumulated 60K BTC in the last 30 days

Posted on December 28, 2022 By Oluwapelumi Adejumo

Bitcoin (BTC) shrimps aggressively accumulated Bitcoin in the last 30 days — adding a total of roughly 60,000 BTC to their portfolios, according to Glassnode data.

The post Bitcoin shrimps have accumulated 60K BTC in the last 30 days appeared first on CryptoSlate.

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Venezuelan Banks Have Blocked Over 75 Accounts Since the End of Last Year Due to Cryptocurrency-Related Activities

Posted on December 28, 2022 By Sergio Goschenko

venezuelan banks stablecoins accountsVenezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and blockchain-focused legal firm in Venezuela, more than 75 accounts have been blocked by Venezuelan private banks for facilitating crypto-to-fiat and fiat-to-crypto conversions since the end of 2021. Venezuelan […]

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FBI Renews Warning About Pig Butchering Crypto Scam Sweeping the Country

Posted on December 28, 2022 By Kevin Helms

The Federal Bureau of Investigation (FBI) has reiterated its warning about a very popular crypto investment scam called “pig butchering” that is sweeping across the U.S. “Be very careful when you go on social media and dating apps and somebody starts developing a relationship with you,” cautioned an FBI specialist. FBI Warns About Pig Butchering […]

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Bitcoin Price Stuck In Crucial Range, 2023 Breakout Looms

Posted on December 28, 2022 By Aayush Jindal

Bitcoin price is still trading in a range below the $17,000 resistance. BTC could witness a major breakout as we approach the New Year 2023.

Bitcoin failed to clear the $17,000 and $17,200 resistance levels.
The price is trading below $16,800 and the …

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Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse

Posted on December 28, 2022 By Kevin Helms

The Philippine Securities and Exchange Commission (SEC) has advised investors against transacting with unlicensed cryptocurrency exchanges. The warning followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money,” the regulator stressed. Philippine SEC Warns About Unregulated Crypto Exchanges The […]

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Robert Kiyosaki Warns Last Chance to Buy Gold and Silver at Low Prices — Says Stock Market Crash Will Send Them Higher

Posted on December 28, 2022 By Kevin Helms

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says now may be the last chance to buy gold and silver at low prices. “Inflation moving up. Interest rates moving up. Stock market to crash sending gold and silver higher,” Kiyosaki described.
Robert Kiyosaki Expects Gold and Silver to Soar When […]

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Publicly-Listed Bitcoin Miner Argo Blockchain Suspends Nasdaq Trading

Posted on December 27, 2022 By Jamie Redman

Publicly-Listed Bitcoin Miner Argo Blockchain Suspends Nasdaq TradingBitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company’s stock has lost 96.34% year-to-date and on Dec. 12, the bitcoin miner “advanced negotiations with a third party to sell certain assets” […]

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Why The Bitcoin Mining Hashrate May Not Be Out Of The Woods Just Yet

Posted on December 27, 2022 By Best Owie

The bitcoin mining hashrate took a sharp nosedive as a historical storm tore through multiple US states. This saw power grids consolidate power to be able to provide enough energy for residents to heat their homes and some mining operations had to wind down to free up more of the electrical. There has been an increase in the hashrate since then but the worst may not be over yet. Bitcoin Hashrate Takes A Beating Electricity grids across the United States came under immense pressure as the country recorded one of its coldest winters yet. Temperatures dropped drastically across various states and the electricity grid was stretched thin to provide enough energy to heat homes. As a result, a number of bitcoin miners decided to pause their operations to free up some energy and this affected the hashrate contributed by the country. Related Reading: Litecoin (LTC) Tops List Of Christmas Gainers, Is $100 Still Possible? By Christmas Day, the global hashrate had tanked almost 40%, dropping from its Dec. 24 peak of 276 exahashes per second (EH/s) to 175 EH/s. However, there was a 39% increase in hashrate on the same day which brought it back up to around 244 EH/s. BTC mining hashrate sees sharp decline on Christmas Day | Source: CoinWarz Since then, the hashrate has continued to wobble day to day and has now dropped back to the 212 EH/s level once more. This shows that while miners may have turned some of their machines back on, they may be shutting them down once more as the extremely cold weather persists. How Long Will This Last? Winter storm expert for Atmospheric Environmental Research Judah Cohen said that the Arctic blast currently being experienced in the United States should be short-lived and last about a week before temperatures begin to return to normal.  BTC price maintains momentum above $16,800 | Source: BTCUSD on TradingView.com However, this still leaves a couple of days before it is expected to completely subside. This is evidenced by the zig-zag recovery and dips in the bitcoin hashrate in the last two days following Dec. 25. Miners who have taken their operations offline to help stabilize the electricity grid will likely leave them offline for a while longer until authorities are convinced the weather has stabilized. An example of this was back in July when Riot Blockchain had to shut off its mining machines in Texas as the state faced a heat wave. Related Reading: Bearish Indicator: Bitcoin Volatility Hits All-Time Low Given this, the bitcoin mining hashrate is expected to trend low for another couple of days before bouncing back up. As for the miners, given that Riot had received $9.5 million in energy credits for turning off operations in July, it is possible that some sort of recompense will be offered to the miners. Featured image from Crypto News, chart from TradingView.com

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Report: Nigerian Security Agency Seeks to Arrest Central Bank Governor on Charges of Funding Terrorists

Posted on December 27, 2022 By Terence Zimwara

The Nigerian security agency, the Department of State Services (DSS), has reportedly instructed its operatives to arrest the Central Bank of Nigeria governor Godwin Emefiele as soon as he is seen in public. The DSS is still seeking to apprehend Emefiele despite losing its bid to have a Nigerian court sanction the arrest. Nigerian Court […]

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Crypto Supporters Sift Through the Graveyard of Technical Indicators That Failed to Predict Bitcoin’s Bottom

Posted on December 27, 2022 By Jamie Redman

Crypto Supporters Sift Through the Graveyard of Technical Indicators That Failed to Predict Bitcoin’s BottomAs the end of 2022 approaches, a great number of bitcoin proponents are questioning whether or not the bottom is in as far as the official end of the crypto winter is concerned. The current bitcoin bear run just entered the longest bottom formation since the 2013-2015 bitcoin bear market. Moreover, analysts note that most […]

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‘Oil Prices North of $200’ per Barrel — Investor Expects Oil to ‘Crush’ Every Investment in 2023

Posted on December 27, 2022 By Jamie Redman

Amid the dreary global economy, a number of market strategists and analysts believe oil will be the number one investment in 2023. While a barrel of oil is coasting along at prices between $80.12 and $85 per unit, Goldman Sachs analysts think oil will reach $110 per barrel for Brent oil, and strategists from Morgan […]

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Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack

Posted on December 27, 2022 By Lubomir Tassev

Bitcoin Mining Pool Btc.com Suffers $3 Million CyberattackA major cryptocurrency mining pool has been hit by hackers earlier this month, the company who owns the pool revealed in an announcement. The incident resulted in the theft of digital assets belonging to the pool and its clients worth a combined total of $3 million.
Chinese Authorities Launch Investigation Into Crypto Mining Pool Hack […]

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Recently Signed 2009 Bitcoin Block Reward Linked to Hal Finney’s Set of BTC Transactions

Posted on December 15, 2022 By Jamie Redman

Recently Signed 2009 Bitcoin Block Reward Linked to Hal Finney's Set of BTC TransactionsAt the end of November, an unknown person signed a signature tied to an extremely old block reward mined on Jan. 19, 2009, and the user published a message and verified signature linked to the reward on the forum bitcointalk.org. The message was tied to a bitcoin address associated with block 1,018, a block reward […]

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Amid Withdrawals, Binance CEO Warns of Bumpy Months Ahead

Posted on December 14, 2022 By Lubomir Tassev

Amid Withdrawals, Binance CEO Warns of Bumpy Months AheadBinance founder Changpeng Zhao (CZ) has reportedly told staff to expect some difficult months as the leading cryptocurrency exchange is seeing customer withdrawals. The warning comes while the crypto industry is facing challenges after high-profile bankruptcies and amid tightening regulations. $3 Billion Pulled Out From Binance at Peak, Nansen Data Shows Binance, the world’s largest […]

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Federal Reserve Hikes Rate by 50bps, FOMC Signals Rate to Rise to 5.1% Next Year

Posted on December 14, 2022 By Jamie Redman

Federal Reserve Hikes Rate by 50bps, FOMC Signals Rate to Rise to 5.1% Next YearThe U.S. central bank’s Federal Open Market Committee (FOMC) convened on Wednesday and raised the federal funds rate by 50 basis points (bps). The 0.5 percentage point rise follows the four consecutive three-quarters of a point increases codified during the last few months. The FOMC’s rate hike follows the recent U.S. inflation report which indicated […]

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NFT Sales This Week Jumped 27% Higher, Cryptopunks Rise Above Bored Apes

Posted on December 14, 2022 By Jamie Redman

On Dec. 14, 2022, statistics show that non-fungible token (NFT) sales jumped 27.72% higher than NFT sales recorded last week. The Bored Ape Yacht Club (BAYC) NFT collection captured the most sales this week but on Wednesday afternoon, the floor value tied to Cryptopunks once again jumped above the floor value associated with the BAYC […]

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Biggest Movers: SOL Hits 3-Week High, as ADA Consolidates Ahead of FOMC Meeting

Posted on December 14, 2022 By Eliman Dambell

Solana surged to a three-week high ahead of this afternoon’s Federal Open Market Committee meeting (FOMC). The token rose for a second consecutive day, hitting a key price ceiling in the process. Cardano mainly consolidated on Wednesday, as prices fell from a recent high. Solana (SOL) Solana (SOL) was a notable gainer on Wednesday, as […]

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SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’

Posted on December 14, 2022 By Jamie Redman

SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF), appeared in court with his newly appointed lawyer Mark Cohen, and his legal team asked the Bahamian judge Joyann Ferguson-Pratt to release SBF on bail with an ankle bracelet. Amid the lengthy court hearing reports detail that SBF’s parents Joseph Bankman and Barbara Fried attended […]

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Bitcoin, Ethereum Technical Analysis: BTC, ETH Remain Higher Ahead of Fed Rate Decision

Posted on December 14, 2022 By Eliman Dambell

Bitcoin continues to trade close to $18,000 on Wednesday, as markets remain bullish, following the latest U.S. inflation report. Following the data, which saw consumer prices rise to 7.1%, many expect the Federal Reserve to increase interest rates by 50 basis points. Ethereum was also higher today, and stayed close to a five-week high. Bitcoin […]

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Russia Cracking Down on Crypto Miners Minting in Residential Areas

Posted on December 14, 2022 By Lubomir Tassev

Russia Cracking Down on Crypto Miners Minting in Residential AreasRussian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates. Amateur Crypto Miners in Russia Under Pressure Despite Lack of Regulation for Home Mining Electricity distribution […]

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Dvision Network Announces Dvision World 2․0 Release In Beta Mode

Posted on December 14, 2022 By Media

PRESS RELEASE. As part of their ongoing development, Dvision Network has announced the launch of their upgraded Dvision World 2.0 in Beta mode. The launch will officially commence on 14th December, 2022. Not too long ago, via a collaborative partnership with market leaders Binance NFT and GameFi.org, Dvision Network had unveiled the highly anticipated 4th […]

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Bitso Partners With Felix Pago to Offer Whatsapp-Based Remittance Services Between Mexico and US

Posted on December 14, 2022 By Sergio Goschenko

bitso felix pagos remittances whatsappBitso, a Latam-focused cryptocurrency exchange, has partnered with chat-based payments provider Felix Pagos in order to offer Whatsapp-integrated remittances. The objective of this partnership is to put nearly instant chat-based remittances in the hands of Mexican and US users that might be intimidated by crypto tech otherwise. Bitso to Power Felix Pagos Whatsapp-Integrated Remittances Remittances […]

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Quant Explains How This Nasdaq Support Retest Could Also Help Reverse Bitcoin

Posted on December 10, 2022 By Hououin Kyouma

A quant has explained why the recent retest of a critical support level by Nasdaq may help Bitcoin reverse its own trend. Nasdaq-100 Has Recently Retested A Critical Support Trendline As pointed out by an analyst in a CryptoQuant post, Nasdaq-100 is currently above a support line that has historically been important. Nasdaq-100 (NDX) is a stock market index that includes 102 equity securities issued by 101 of the largest non-financial companies (based on their market caps) listed on the Nasdaq stock exchange. Here is a chart that shows how this trendline has acted as a bounce in the index’s price over the past decade: The value of the asset seems to have touched this line recently | Source: CryptoQuant As you can see in the above graph, the price of NDX has been supported five times by this trendline since the year 2010. In each of these instances, the line has put a check on the decline in the index, and has consequently reversed it back up. Related Reading: Upcoming FOMC Meeting Is The Most Important Ever For Bitcoin – Watch Out For The Dot Plot Recently, the Nasdaq-100 index has once again made a touch of this trendline, and has so far managed to stay above it. The quant notes that this retest could have been the end of the latest downwards trend, and might have also been the point of return of a bullish trend. However, if the trendline is lost instead, it would show the extreme strength of the downtrend, and would suggest that there is more drawdown ahead for the market. Related Reading: Is Bitcoin Bottom In? This On-Chain Condition Hasn’t Been Met Yet At the same time, Bitcoin has also been testing a support line, as the analyst has highlighted in the chart: Looks like BTC is also just above a support trendline right now | Source: CryptoQuant In the past year or so, Bitcoin has shown to be highly correlated with the stock market. The reason behind this correlation has been the rise of institutional investors in the crypto who treat it like a risk asset. The quant believes that if the current support retest in the stock market proves to be successful, then BTC could also be expected to see a reversal of its own due to its correlation with the stocks. Bitcoin Price At the time of writing, Bitcoin’s price floats around $17.2k, up 1% in the last week. Over the past month, the crypto has lost 7% in value. Below is a chart that shows the trend in the price of the coin over the last five days. The value of the crypto seems to have observed a sharp surge to $17.2k over the past day | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Digital Currency, News, Stock Market

Bitcoin Whales Continue To Shed Holdings, Prices Not Attractive Enough?

Posted on December 9, 2022 By Hououin Kyouma

On-chain data shows Bitcoin whales have continued to shave off their holdings in recent weeks, suggesting that the current lows may not be attractive enough to them. Bitcoin Whales Continue To Sell Despite The Recent Deep Lows As pointed out by an analyst in a CryptoQuant post, the number of investors with balances in the 1k to 10k BTC range have continued to decline recently. The relevant indicator here is the “UTXO Count – Value Bands,” which tells us about the number of UTXOs (or wallets) that are currently in each Bitcoin value band. These value bands are groups that define ranges between which the balances of UTXOs falling into said bands lie. For example, the 100-1k BTC value band includes all UTXOs (or wallets) that currently have between 100 and 1,000 coins. Related Reading: Ethereum Bullish Signal: Whales And Sharks Continue To Add To Their Holdings The value band of interest in the current context is the “1k-10k BTC” group. Here is a chart that shows how the UTXO Count of this value band has changed over the last several months: Looks like the value of the metric has taken a hit in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin UTXO Count for the 1k-10k BTC value band has observed some steep decline over the past month. Wallets with such large balances usually belong to the whales. This means that the holdings of these humongous holders have gone down in this period. This entire latest decline has come following the crash caused by crypto exchange’s FTX collapse, which means whales have sold their coins while the prices have been hitting lows. Related Reading: Is Bitcoin Bottom In? This On-Chain Condition Hasn’t Been Met Yet Historically, whales have shown accumulation behavior as bear markets have bottomed out. But recently instead of seeing an increase or even sideways movement, the UTXO Count of this whale value band has been strangely decreasing. This trend could be a sign that whales are still not finding the current lows attractive enough to buy more, and that they may rather be selling off their reserves as they expect the bearish winds to continue further. BTC Price At the time of writing, Bitcoin’s price floats around $17.2k, up 1% in the last week. Over the past month, the crypto has lost 7% in value. Below is a chart that shows the trend in the price of the coin over the last five days. The value of the crypto seems to have seen some rise during the past day | Source: BTCUSD on TradingView Bitcoin has been stuck moving sideways around the $17k level recently, but at the moment it’s unclear when some real volatility may return to the crypto. Featured image from Thomas Lipke on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions

Posted on December 5, 2022 By Terence Zimwara

A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa, which already levy taxes on digital asset transactions. Extracting More Revenue […]

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Brazilian Companies Break Crypto Purchasing Records Again in October

Posted on December 5, 2022 By Sergio Goschenko

brazilian tax authority records receita federalAccording to the latest reports from the Brazilian tax authority (RFB), institutions have again broken crypto purchasing records in Brazil. The organization registered that almost 42,000 companies purchased some kind of cryptocurrency during October, a new record that overturns the 40,161 that declared having purchased crypto during September. Brazilian Companies Purchase Crypto in Waves More […]

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Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan

Posted on December 5, 2022 By Lubomir Tassev

Russia’s Largest Digital Asset Deal Denominated in Chinese YuanA Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt. Digital Financial Assets for 58 Million Yuan Issued by Russian Platform […]

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Save Thousands In Taxes by Harvesting NFT Losses – CoinLedger Explains How

Posted on December 5, 2022 By Media

There’s a silver lining to the crash in the NFT market — millions of dollars of potential tax-savings.

To help NFT investors claim their tax-savings before the end of the year, CoinLedger recently launched an NFT tax-loss harvesting tool. Let’s break down how the tool works and how it can help people save money […]

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‘I Wanted to Punch Kanye’ — Free Speech Waffler Elon Musk’s Nonsensical Take on Bitcoin, CBDCs, and Censorship

Posted on December 5, 2022 By Graham Smith

“Vox Populi, Vox Dei, man.” So says self-proclaimed Chief Twit Elon Musk from a private jet flying high above the world during a Twitter Spaces appearance on Sunday, Dec. 4 (JST). It does sound nice to say, but the voice of the mob should never be the voice of “God.” The reasons are myriad. Suffice […]

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Blackrock CEO on FTX Collapse: Most Crypto Companies Aren’t Going to Be Around

Posted on December 5, 2022 By Kevin Helms

Blackrock CEO on FTX Collapse: Most Crypto Companies Aren't Going to Be AroundThe CEO of Blackrock, the world’s largest asset manager, says that most crypto companies will not be around following the collapse of crypto exchange FTX. However, the executive is still optimistic about blockchain technology. Blackrock’s CEO on FTX’s Collapse and Future of Crypto Larry Fink, the CEO of Blackrock Inc. (NYSE: BLK), the world’s largest […]

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Jim Cramer Calls FTX Co-Founder Sam Bankman-Fried a Pathological Liar, Conman, and Clueless Idiot

Posted on December 5, 2022 By Kevin Helms

Jim Cramer Calls FTX Co-Founder Sam Bankman-Fried a Pathological Liar, Conman, and Clueless IdiotThe host of Mad Money, Jim Cramer, says former FTX CEO Sam Bankman-Fried (SBF) is a pathological liar and a conman. “That guy is a clueless idiot. Intent means nothing. Saying sorry means nothing,” Cramer stressed. Jim Cramer on Sam Bankman-Fried and FTX Collapse The host of CNBC’s Mad Money show, Jim Cramer, shared his […]

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Alameda Research CEO Caroline Ellison Reportedly Spotted at a Coffee Shop in Manhattan With FTX Dog ‘Gopher’

Posted on December 4, 2022 By Jamie Redman

Alameda Research CEO Caroline Ellison Reportedly Spotted at a Coffee Shop in Manhattan With FTX Dog 'Gopher'On Dec. 4, 2022, the Twitter account and citizen journalist called Autism Capital shared two pictures of a woman that closely resembles the Alameda Research CEO, Caroline Ellison. The pictures were taken at a coffee and sandwich shop in Manhattan at 8:15 a.m. (ET). Citizen Journalist Reportedly Spots Alameda’s Caroline Ellison in New York According […]

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Bitcoin’s Third Largest Wallet Changed Hands, but Onchain Data Shows It’s Likely the Same Owner

Posted on December 4, 2022 By Jamie Redman

Bitcoin’s Third Largest Wallet Changed Hands, but Onchain Data Shows It’s Likely the Same OwnerLast year and during the first half of 2022, speculators assumed the third-largest bitcoin address was a ‘mysterious whale,’ even though the wallet had shown strong characteristics of being a cryptocurrency exchange. The address known as “1P5ZED” has since been replaced by another address, after the wallet started to transfer its entire bitcoin balance in […]

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Web3 Crypto Onboarding Platform Transak Integrates With Coinbase Wallet

Posted on December 4, 2022 By Terence Zimwara

Web3 Crypto Onboarding Platform Transak Integrates With Coinbase WalletAccording to Transak, users of the Coinbase self-custody wallet in South East Asia can now use its Web3 onboarding platform “as a fiat on-ramp to buy crypto.” Transak’s integration with the Coinbase wallet is coming at a time when more users are becoming “aware of the importance of keeping their assets safe, secure, and in […]

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EU Parliament to ‘Vote on Adopting the Regulation on MiCA’ — Expert Says Industry Needs Legal Clarity

Posted on December 3, 2022 By Terence Zimwara

In a recent statement, the European Parliament said its members would shortly “vote on adopting the regulation on markets in crypto-assets (MiCA).” According to the parliamentary body’s think tank, the envisaged regulations are expected to provide “legal certainty for crypto-assets not covered by existing EU legislation.” A crypto counselor, Paulius Vaitkevicius, said any regulation of […]

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Ethereum Price To Reclaim $1,300 Throne – What Are The Possibilities?

Posted on December 3, 2022 By Ana N.

This week saw a positive recovery in some crypto assets, Ethereum included. It is gaining momentum and preparing for a bullish rally in the days to come. Although Ethereum is still below $1,300, some factors suggest a possible increase to $1,350 and $1,550. The crypto market has been filled with FUD (fear, uncertainty, and doubt) in the past weeks following the FTX crisis. Crypto investors are left speculating whether to buy or sell holdings as assets plunged deeper. For example, reports show that Ethereum lost nearly 39% in a couple of weeks. The crypto market has been anticipating news of the U.S. Federal Reserve dropping its bullish stance on interest rate hikes from December. As signals point towards this expectation becoming a reality, some assets started showing signs of recovery. However, despite the bullish trend, Bitcoin remains down due to miners’ capitulation, while Ethereum is rising. Factors Indicating Massive Ethereum Price Surge Coinglass’ crypto derivatives data shows that Ether futures open interest on Binance has reached an all-time high of 2.01 million. It amounts to a 9% increase in Open Interest in the last 24 hours, indicating a high probability that Ethereum will increase in the coming weeks. On-chain data from Glassnode also revealed that the total value of the Ethereum 2.0 deposit contract hit an all-time high of 15,492,407 ETH. Ethereum validators’ revenue has also reached a 1-month high of 11.310%. These records have got players and analysts reacting. For example, Michael van de Poppe believes ETH is exhibiting strength as it rose from the $1,150 level to the current price. The analyst predicts that a break above the $1,225 level would trigger a rally toward $1,350 and maybe $1,550. Traders look forward to holding their Ether if it remains above the support level of $1,200. Analysts also believe the ETH price increase will rub off on other altcoins. ETH Price Journey Many traders were bullish about Ethereum’s price increase after the completion of the merger. However, Ethereum neither surpassed nor bounced back to the $1,700 level after the merge. With the macroeconomic situation, the asset continued falling and went below the $1,500 physiological. Whale accumulations saw ETH price drop from $1,661 to $1081 in one month. Whales saw the price declines as an opportunity to accumulate ETH holdings. Whale accumulations are often indicators of an asset’s bullish recovery. However, it didn’t seem so initially for Ethereum, whose price dipped to $1,081. Now the tables are turning, and Ethereum seems to gain bullish momentum, rising towards $1,350. Ethereum is trading at $1,283 with a 24-hour trading volume of $6,205,108,773. With the ETH price above the critical support level of $1,225, there may be hope for more increase. The price surged nearly 2% in 24 hours and 8% in the past week. Featured image from Pexels, chart from CoinGlass and TradingView.com

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Uzbekistan Approves Rules for Issuance and Circulation of Crypto Assets

Posted on December 3, 2022 By Lubomir Tassev

Uzbekistan Approves Rules for Issuance and Circulation of Crypto AssetsThe authority responsible for crypto oversight in Uzbekistan has determined the order of issuing and circulating digital assets in the country. The main reason behind the move is to establish a mechanism that would allow local companies to attract capital through coins and tokens. Uzbekistan Government Sets Out to Regulate Digital Asset Investments The National […]

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US Lawmakers Say Any Digital Dollar Must Be Open, Permissionless, and Private

Posted on December 3, 2022 By Kevin Helms

US Lawmakers Say Digital Dollar Must Be Open, Permissionless, and PrivateNine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The lawmakers stressed: “Any U.S. CBDC must be open, permissionless, and private.” Congressmen Say Any US CBDC Must Be Open, Permissionless, and Private U.S. Congressman Tom Emmer (R-MN) announced Thursday that he has […]

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US Senator: Bitcoin Is a Commodity — ‘There Is No Dispute About This’

Posted on December 3, 2022 By Kevin Helms

US Senator: Bitcoin Is a Commodity — 'There Is No Dispute About This'U.S. Senator John Boozman says bitcoin, although a cryptocurrency, is a commodity in the eyes of the federal courts and the Securities and Exchange Commission (SEC) chairman. He stressed that exchanges where commodities are traded, including bitcoin, must be regulated and the Commodity Futures Trading Commission (CFTC) is the right regulator for the crypto spot […]

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Inside LBank’s Exquisite Afterparty at DCENTRAL Miami

Posted on December 3, 2022 By Media

PRESS RELEASE. INTERNET CITY, DUBAI, Dec 2nd, 2022 – LBank, a global crypto exchange, hosted an ‘LBank & Crypto Friends’ afterparty alongside the Web3 conference DCENTRAL Miami. LBank was proud to host more than 200 guests from all layers of the industry. This was LBank’s second event in Miami after exhibiting at the Bitcoin 2022 […]

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This Historic Bitcoin On-Chain Support Level Is Still Not Lost

Posted on December 3, 2022 By Hououin Kyouma

On-chain data shows the historical 20-Day MA Bitcoin aSOPR support level has continued to hold so far. Bitcoin 20-Day MA aSOPR Rebounds Off Historical Support Line As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR recently retested its 8-year old support. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is greater than 1, it means the overall market is moving coins at some profit currently. On the other hand, values of the indicator less than the threshold suggest holders as a whole are realizing some loss with their selling at the moment. Naturally, SOPR values exactly equal to 1 imply the investors are just breaking even on their investment right now. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance “Adjusted SOPR” (aSOPR) is a modified version of this metric that excludes from the data any selling of coins that was done within 1 hour of first acquiring said coins. Here is a chart that shows the trend in the 20-day moving average Bitcoin aSOPR over the last several years: Looks like the 20-day MA value of the metric has sharply declined in recent days | Source: CryptoQuant As you can see in the above graph, the 20-day MA aSOPR rapidly went down following the FTX crash, and touched a low of 0.93 just a week or so ago. This level was the same as the one seen during the lows of the previous bear markets, and each of the touches in those bears launched the metric back up. The support line has now been active since 2014, and in the 8 years so far the indicator has never seen any actual dip below it. Related Reading: Bitcoin Hits $17,000, But Is It Too Early To Call The All Clear On The Bear Market? Since the retest of this support level a week ago, the metric has already bounced back up, suggesting that this important support line is still holding right now. However, it’s uncertain whether this successful retest means the bottom is now in. Back In the 2018/19 bear, it was indeed the case, but in 2014/15 it took two touches of the line before the real bottom formed. BTC Price At the time of writing, Bitcoin’s price floats around $16.8k, up 3% in the last week. Over the past month, the crypto has lost 18% in value. The below chart shows the trend in the BTC price over the last five days. The value of the crypto seems to have been moving sideways since the surge | Source: BTCUSD on TradingView Featured image from André François McKenzie on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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US Regulator CFTC Met With Sam Bankman-Fried 10 Times Before Crypto Exchange FTX Collapsed

Posted on December 2, 2022 By Kevin Helms

US Regulator CFTC Met With Sam Bankman-Fried 10 Times Before Crypto Exchange FTX CollapsedThe chairman of the Commodity Futures Trading Commission (CFTC) has revealed that he and his team met with Sam Bankman-Fried and other FTX executives 10 times before the crypto exchange filed for bankruptcy. The regulator sees the FTX collapse as “a classic run based on liquidity crunch.” CFTC’s Meetings With FTX and Sam Bankman-Fried The […]

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Bitcoin Bearish Signal: MPI Records Highest Value Since April 2022

Posted on December 2, 2022 By Hououin Kyouma

On-chain data shows the Bitcoin MPI has surged to its highest value since the April of this year, a sign that may prove to be bearish for the crypto’s price. Bitcoin Miners’ Position Index Has Spiked Up During Past Day As pointed out by an analyst in a CryptoQuant post, this instance is the fifth time that the metric has sent a warning signal. The “Miners’ Position Index” (or the MPI in short) is an indicator that measures the ratio between the miner outflows in USD, and the 365-day moving average of the same. Generally, miners transfer coins out of their wallets (that is, make outflow transactions) for selling purposes. Thus, the MPI can tell us whether miners are selling more or less right now compared to their past year average. When the value of this metric is high, it means miners are dumping more than usual currently. On the other hand, low values suggest these chain validators aren’t doing any heavy selling at the moment. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance Now, here is a chart that shows the trend in the Bitcoin MPI over the past year and a half: The value of the metric seems to have been pretty high recently | Source: CryptoQuant As you can see in the above graph, whenever the Bitcoin Miners’ Position Index has crossed above a value of 2 during the past year, the price of the crypto has seen a decline shortly after. There have been five such spikes in 2022 so far, the latest of which has only just been recorded in the last 24 hours. Related Reading: Bitcoin Hits $17,000, But Is It Too Early To Call The All Clear On The Bear Market? This current surge has now taken the indicator’s value to the highest level since the spike back in April of this year. When this previous spike was seen, Bitcoin was above $45k, but only a week later the crypto had crashed below $40k. If the latest rise in miner selling also follows the same trend as back in April, then BTC may observe some downtrend in the coming days. BTC Price At the time of writing, Bitcoin’s price floats around $16.9k, up 3% in the last week. Over the past month, the crypto has lost 17% in value. Below is a chart that shows the trend in the price of the coin over the last five days. Looks like the price of the crypto has retreaded below the $17k level again | Source: BTCUSD on TradingView Bitcoin has surged up in the last few days, but it’s unclear whether this rise will last, given the recent increased selling pressure from the miners. Featured image from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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While the FTX Co-Founder Claims He ‘Wasn’t Running Alameda,’ SBF Is Asked Why He Threw Caroline Ellison ‘Under the Bus’

Posted on December 2, 2022 By Jamie Redman

While the FTX Co-Founder Claims He 'Wasn’t Running Alameda,' SBF Is Asked Why He Threw Caroline Ellison 'Under the Bus'While the former FTX CEO Sam Bankman-Fried (SBF) has done numerous interviews, during these discussions he’s explained on numerous occasions that as far as Alameda Research is concerned, he “wasn’t running Alameda.” SBF wasn’t the CEO of the trading firm Alameda Research as the job was handled by Caroline Ellison, a former Jane Street trader […]

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U.S. Economic Data Foils Bitcoin Bulls’ Rally Attempt To Retake $17,000

Posted on December 2, 2022 By Reynaldo Marquez

Bitcoin is retracing and might be at the end of the short-term bullish momentum; the macroeconomic data might have shifted once again against it. The cryptocurrency saw profits after weeks of trending to the downside, but the rally is losing steam.  Related Reading: Will Bitcoin (BTC) See A Christmas Rally? Here’s What To Watch The number one crypto by market cap is moving sideways after the collapse of FTX pushed it below critical support. As of this writing, Bitcoin trades at $16,900. The BTC price has yet to reclaim that level at around $17,500.  Bitcoin Continues The Struggle, A New Status Quo Is In The Making Over the previous week, the market rushed to the upside on the back of a potential U.S. Federal Reserve (Fed) monetary policy pivot. The Fed Chair Jerome Powell hinted at a change in their strategy during a speech at the Brookings Institution.  Powell spoke about moderation for the first time in months since hiking interest rates to slow down inflation. During this speech, the Fed Chair said: Thus, it makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. The time for moderating the pace of rate increases may come as soon as the December meeting. Bitcoin, crypto, and legacy financial markets were trending to the downside due to this monetary policy. Powell speaking of moderation gave them room to rally, but today the U.S. posted data on its job sectors that killed the bullish sentiment in the market.  The nonfarm payrolls and private payrolls came in hotter than expected. The market was expecting much lower results. The metrics recorded 263,000 and 221,000, respectively. This data hints at a strong jobs market, which contributes to inflation, and allows the Fed to keep hiking rates.  OOPS! No Goldi-lockish US jobs data. A bit too hot! pic.twitter.com/djivTXhgy0 — Holger Zschaepitz (@Schuldensuehner) December 2, 2022  Immediately after this data became public, the market began pricing in a higher probability of a 75-basis point (bps) hike in interest for December. Analyst Ted Talks Macro believes the previous week’s rally and subsequent price action could be part of a new status quo.  Related Reading: Terra Classic Surges By 17%; Korean Prosecutors Seek Arrest of Co-Founder The market might be stuck in a game of ping-pong, a game of frustration, between bullish and bearish forces. A strategy employed by the Fed to keep inflation in check without harming the economy. Ben Lilly, Co-Founder at analytics firm Jarvis Labs, said the following about the status quo in the markets in response to Ted’s thesis: This process of bullish macro conditions, met shortly after with a reason to be hawkish (moving goalpost/expectations of FED action) is a level of uncertainty that is strategic. If things are stressing ever so slightly and rates need to settle… what’s your next option? This.

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Bitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits

Posted on December 2, 2022 By Jamie Redman

Bitcoin's Total Hashrate Slides Lower in December as BTC Miners Struggle for ProfitsWhile bitcoin prices have been lower than the estimated cost of bitcoin production, the network’s hashrate has dropped a great deal since mid-November. Presently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s) after dropping below the 200 EH/s range six days ago. Bitcoin’s Hashrate Slips Lower […]

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MEXC’s Changing for You | The 1st Exchange to Launch a Zero Maker Fee Event for Futures Orders

Posted on December 2, 2022 By Media

PRESS RELEASE. In September of this year, blockchain media outlet, Cointelegraph, reported that cryptocurrency trading platform MEXC has ranked as the world’s top liquidity provider. Recently, MEXC announced the growth of its contract business, and its average daily trading volume has reached an increase of 1,200%. 「Users first, MEXC’s Changing for you」has always been the […]

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Biggest Movers: DOT Hits 12-Day High, UNI up for Fourth Straight Day

Posted on December 2, 2022 By Eliman Dambell

Polkadot rose to its highest level in nearly two weeks on Dec. 2, despite cryptocurrency markets sliding following the latest nonfarm payrolls report. The global crypto market cap is down 0.57% as of writing, as prices consolidated following the data being released. Uniswap was also higher, despite the turbulent sentiment on Friday. Polkadot (DOT) Polkadot […]

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Will Bitcoin (BTC) See A Christmas Rally? Here’s What To Watch

Posted on December 2, 2022 By Jake Simmons

After the recent speech by US Federal Reserve chairman Jerome Powell, there was a price firework on the stock market, from which Bitcoin also benefited. As a result, the BTC price has climbed to over $17,000. At press time, Bitcoin was trading at $16,982. However, the joy could not last long. The price is currently just bobbing along at the level reached. In the meantime, there are even signs of a slight downward trend again. In the 1-hour chart, investors should keep an eye on four levels. A fall below $16,727 could mean an erosion of the recent Powell gains. On the other side, a rise above the $17,250 level would clear the path towards the $17,800-$18,000 area. Did The Market Misinterpret Powell? The reaction of the Bitcoin market is actually also logical. Since the last meeting, Fed officials have repeatedly defended the restrictive monetary policy and demanded its continuation. That Powell now said that “the time for moderating the pace of rate increases may come as soon as the December meeting” was a surprise. Still, the market overheard the hawkish comments. Thus, Powell also said that the fight against inflation is far from over. Therefore, he said, the Fed must keep its policy at restrictive levels “for some time.” Related Reading: Bitcoin Price Starts Technical Correction, Here’s Key Support To Watch Powell also was tired of emphasizing that the Fed still has a long way to go to bring inflation down and that they probably need “somewhat higher” interest rates than expected in the September projections. Gold bug Peter Schiff commented: Investors are no longer buying what Powell is selling. Today he was as hawkish as ever, but the dollar tanked, and gold & stocks rallied. Powell’s resolve to fight #inflation is contingent on a soft landing. Not only will the economy crash, it’ll be another financial crisis. Bitcoin Faces Headwinds In December Whether there will be a Christmas rally in December is likely to depend on various factors that will confront Bitcoin with serious headwinds. First and foremost, the Fed meeting on December 14 and the release of the new CPI data a day earlier are likely to be key in determining whether there will be a green or red Christmas. Related Reading: US Institutional Investors Flocking Back To Bitcoin – Is The Bottom In? In addition, Bitcoin investors should keep an eye on further FTX contagion effects, especially Genesis Trading and DCG. If DCG indeed only has a liquidity issue and can solve it, it would be a major relief for the crypto market. Also, recession fears are growing, but could take a back seat for the time being if inflation continues to fall and the Fed announces a 50 bps rate hike. Potentially, this would be solid fuel for a strong year-end rally. With miner capitulation currently looming, Bitcoin could be entering the closing stages of its bear market. The historical average duration is 14 months. Currently, we are in the 13th month. A Glimpse Beyond December – Bitcoin’s First Recession? Not only Peter Schiff, but also other analysts are still warning of an looming recession, even though Powell still called a soft landing “very plausible” during his last speech. The fact that the full impact of the Fed’s policy will not become apparent until 2023 is also supported by the fact that Q4 earnings results, which are due at the end of January, are always the strongest of the year. Thus, a recession might not become apparent until April 2023, when Q1 2023 earnings are announced. A CryptoQuant verified analyst noted that the 2YR-10YR yield curve has the steepest inversion since the 2000s (dot com bubble). Over the past 2 cycles, second inversions caused a correction of about 50% in the S&P 500. “The theoretical bottom of a similar correction would be the Covid low for SPX – 34% downside from here,” the said and continued: If this happens, it would be Bitcoin ‘s first true recession. Surviving it would forever solidify BTC as an investable macro asset. […] it also means BTC prices may stay depressed for longer than the typical 3-month cycle bottoms.

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Bitcoin sees worst monthly close in 2 years as traders watch $16.7K

Posted on December 1, 2022 By Cointelegraph By William Suberg

BTC price action strengthens into the November monthly candle close, but traders are already warning over getting too “cocky” on Bitcoin.

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Why is the crypto market up today?

Posted on November 30, 2022 By Cointelegraph By Kyle White

The crypto market is up today, possibly due to “positive” news from the United States Federal Reserve.

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Price analysis 11/30: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Posted on November 30, 2022 By Cointelegraph By Rakesh Upadhyay

BTC and many altcoins are kicking up dust after the Federal Reserve chairman Jerome Powell discussed the possibility of smaller rate hikes in 2023, but is the momentum sustainable?

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How low can the Bitcoin price go?

Posted on November 26, 2022 By Cointelegraph By William Suberg

Bitcoin is a “buy the dip” opportunity with the BTC price at $16,000 or a bear market capitulation waiting to happen, depending on who you ask.

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Bitcoin’s new ‘worst case scenario’ puts BTC bear market bottom near $6K

Posted on November 26, 2022 By Cointelegraph By William Suberg

Bitcoin capitulation action could send BTC price back to an area double the 2018 bear market bottom, says Decentrader’s Filbfilb.

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Price analysis 11/25: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Posted on November 25, 2022 By Cointelegraph By Rakesh Upadhyay

Bitcoin and most major altcoins are witnessing a relief rally but higher levels are likely to attract strong selling by the bears.

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US House Committee to Investigate and Hold Bipartisan Hearing on FTX Collapse

Posted on November 16, 2022 By Jamie Redman

US House Committee to Investigate and Hold Bipartisan Hearing on FTX CollapseThe U.S. House Financial Services Committee is planning to investigate the FTX collapse, according to a joint press release published by the committee’s chair Maxine Waters and representative Patrick McHenry. Furthermore, a congressional hearing is scheduled to take place in December, according to the joint statement. Bipartisan Congressional Hearing to Be Held in December Over […]

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Terraform Labs Co-Founder Daniel Shin’s Firm Chai Reportedly Raided by Seoul Prosecutors

Posted on November 16, 2022 By Jamie Redman

Terraform Labs Co-Founder Daniel Shin's Firm Chai Reportedly Raided by Seoul ProsecutorsFollowing the collapse of FTX, law enforcement officials are still dealing with the Terra blockchain fiasco. A new report claims Terraform Labs (TFL) co-founder Daniel Shin’s company Chai Corporation was raided by South Korean investigators. Terraform Labs Co-Founder’s Company Chai Reportedly Raided by South Korean Law Enforcement The Terra blockchain that collapsed last May was […]

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Tom Brady, Gisele Bündchen, Kevin O’Leary, and 9 Other Celebrities Named in FTX-Related Class-Action Lawsuit

Posted on November 16, 2022 By Jamie Redman

Tom Brady, Gisele Bündchen, Kevin O'Leary, and 9 Other Celebrities Named in FTX-Related Class-Action LawsuitFormer FTX CEO Sam Bankman-Fried (SBF) and a number of celebrities including Tom Brady, Gisele Bündchen, Stephen Curry, and Shaquille O’Neal have been named in a class-action lawsuit involving the alleged engagement in deceptive practices with FTX. The lawsuit was filed by the attorneys Adam Moskowitz and David Boies late Tuesday, and the suit alleges […]

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Biggest Movers: BCH Climbs to 1-Week High, DOT Declines

Posted on November 16, 2022 By Eliman Dambell

Bitcoin cash rose to a one-week high in today’s session, despite crypto markets mostly trading lower. The global cryptocurrency market cap is down by 2.45% as of writing, which comes as traders reacted to rising geopolitical tensions. Polkadot was a notable token to slip, as prices collided with a key support point. Bitcoin Cash (BCH) […]

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Report: Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations

Posted on November 16, 2022 By Jamie Redman

Report: Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan OriginationsFollowing Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational. DCG-Owned Genesis Halts Lending Unit’s Redemptions and New Loans On Nov. 16, 2022, Coindesk reporter Nelson […]

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Value Locked in Defi at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days

Posted on November 16, 2022 By Jamie Redman

Value Locked in Defi Is at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 DaysSmart contract platform tokens and decentralized finance (defi) protocols have taken a beating since the FTX collapse last week. The market capitalization of all the smart contract platform tokens in existence lost more than $22 billion during the last 36 days. The total value locked (TVL) in defi protocols has dropped to $43 billion, the […]

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Bitcoin, Ethereum Technical Analysis: ETH Lower, as Markets React to Missile Exploding in Poland

Posted on November 16, 2022 By Eliman Dambell

Ethereum moved into the red on Nov. 16, as markets became nervous, following a missile accidentally exploding in Poland. Fears grew of potential escalation in the war between Russia and Ukraine, as the missile hit Poland, which is a NATO-backed country. Poland and NATO have both downplayed the strike, and have so far not accused […]

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Turkey’s Financial Intelligence Unit Launches Investigation Into FTX Collapse

Posted on November 16, 2022 By Lubomir Tassev

Turkey’s Financial Intelligence Unit Launches Investigation Into FTX CollapseThe Turkish agency responsible for tackling money-related crime has initiated an investigation against troubled crypto exchange FTX. Days after the trading platform filed for bankruptcy in the United States, the department revealed it has been tracking its activities in Turkey. Turkish Financial Watchdog Sets Out to Dig Deeper Into FTX Case Turkey’s Financial Crimes Investigation […]

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Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration

Posted on November 16, 2022 By Sergio Goschenko

latam monetary integration USANA proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by several former presidents of countries in Latam, reinforces the need for regional integration to overcome common problems in the area, including poverty. USAN Relaunch Proposal Includes […]

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FTX Collapse: African Crypto Industry Leaders’ Perspective and Advice to Regulators

Posted on November 16, 2022 By Terence Zimwara

The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the unintended consequences arising from rushed and over-restrictive regulations. The Game-Changing Role of Crypto in Africa As the crypto […]

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$3 billion in Bitcoin left exchanges this week amid FTX contagion fears

Posted on November 13, 2022 By Cointelegraph By William Suberg

It appears that more investors are choosing to self-custody their BTC funds in the wake of the FTX scandal and fallout.

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Bitcoin will shrug off FTX ‘black swan’ just like Mt. Gox — analysis

Posted on November 12, 2022 By Cointelegraph By William Suberg

There might not be much new to worry about when it comes to the FTX aftermath and Bitcoin resilience.

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Onchain Data Shows FTX US Paused ETH Withdrawals for 2 Hours, Users Complain of Withdrawal Errors

Posted on November 11, 2022 By Jamie Redman

Onchain Data Shows FTX US Paused ETH Withdrawals for 2 Hours, Users Complain of Withdrawal ErrorsAfter FTX International’s parent firm West Realm Shires Services filed for Chapter 11 bankruptcy protection in Delaware, users noticed that FTX US was included in the bankruptcy filings. On the U.S. exchange’s website, the firm notes that “trading may be halted on FTX US in a few days,” but the company’s ethereum wallet stopped processing […]

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Crypto.com CEO Shares Company’s Crypto Reserve Addresses in the Wake of FTX Bankruptcy

Posted on November 11, 2022 By Jamie Redman

Crypto.com CEO Shares Company's Crypto Reserve Addresses in the Wake of FTX BankruptcyOn Nov. 11, 2022, the CEO of Crypto.com Kris Marszalek shared the company’s proof-of-reserves addresses that hold leading crypto assets like bitcoin and ethereum. Marszalek says a “proof-of-reserves audit preparation is underway” and the wallet addresses shared are the company’s cold wallets. Crypto.com CEO Kris Marszalek Shares Company’s Cold Wallet Addresses, Promises Full Audit Soon […]

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Philanthropic FTX Foundation Sunsets Operations Amid Bankrupt Exchange’s Fallout

Posted on November 11, 2022 By Jamie Redman

The philanthropic effort created by the troubled crypto exchange FTX has detailed it is sunsetting operations and told the community that members were “shocked and immensely saddened” by the turn of events that transpired around the trading platform. Sam Bankman-Fried’s Altruistic Efforts Undermined by the FTX Collapse, Plans to ‘Do Unbelievably Good Things’ Shaken While […]

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AscendEX New User Promotions: Reward Every Step of the Way

Posted on November 11, 2022 By Media

PRESS RELEASE. New York, NY, November 11, 2022 – AscendEX, a leading global cryptocurrency exchange, is excited to announce its new user rewards program, providing users an exclusive chance to mine BTC and earn satoshis rewards (SATs) by completing tasks. In addition, all new users will be able to get 10,000 SATs when they sign-up […]

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3,500 ‘Sleeping Bitcoins’ From 2011 Worth Over $60 Million Wake up After 11 Years of Slumber

Posted on November 11, 2022 By Jamie Redman

3,500 'Sleeping Bitcoins' From 2011 Worth Over $60 Million Wake up After 11 Years of SlumberOn Nov. 11, amid the confusion concerning troubled crypto companies like FTX and Blockfi, 3,500 ‘sleeping bitcoins’ from a wallet created on Oct. 7, 2011, moved for the first time in over 11 years. $60 Million Worth of 11-Year-Old Bitcoins Move Amid the Crypto Market Rout A large string of so-called ‘sleeping bitcoins’ moved on […]

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Biggest Movers: SOL Gives Up 20% Gains, as FTX Declares Bankruptcy

Posted on November 11, 2022 By Eliman Dambell

Solana was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which dropped by over 50% earlier in the week, surged today, as traders seemingly bought the dip earlier in the day. However, sentiment has since shifted following the news that FTX has declared bankruptcy. Polygon was […]

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Troubled Crypto Exchange FTX Files for Chapter 11 Bankruptcy Protection, CEO Steps Down

Posted on November 11, 2022 By Jamie Redman

Troubled Crypto Exchange FTX Files for Chapter 11 Bankruptcy Protection, CEO Steps DownThe embattled crypto exchange FTX has informed the public that the FTX parent firm West Realm Shires Services, Alameda Research, and approximately 130 additional affiliated companies have filed for Chapter 11 bankruptcy protection in Delaware. FTX’s Parent Company, Alameda Research, and 130 Associated Firms Voluntarily Commence Bankruptcy Proceedings After days of confusion and speculation, the […]

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California Regulator Reveals Investigation Into FTX’s Failure, Says ‘Crypto Assets Are High-Risk Investments’

Posted on November 11, 2022 By Jamie Redman

After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published a consumer alert and said the state regulator was “investigating the apparent failure of crypto asset platform FTX.” California’s […]

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Bitcoin, Ethereum Technical Analysis: ETH Moves Higher as Markets Continue to React to US Inflation Report

Posted on November 11, 2022 By Eliman Dambell

Ethereum was trading higher on Friday, as cryptocurrency markets continued to rebound, following yesterday’s U.S. inflation report. The better-than-expected 7.7% CPI (consumer price index) figure for October boosted prices, following recent bearish sentiment. Bitcoin briefly climbed back above the $18,000 level on Friday. Bitcoin Bitcoin (BTC) moved higher on Friday, as the token rebounded following […]

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Bahamas Regulator Freezes FTX Assets — Supreme Court Appoints Provisional Liquidator

Posted on November 11, 2022 By Kevin Helms

Bahamas Regulator Freezes FTX Assets — Supreme Court Appoints Provisional LiquidatorThe Bahamas Securities Commission has frozen the assets of FTX Digital Markets and related parties. The financial regulator said the prudent course of action is to put the crypto firm “into provisional liquidation to preserve assets and stabilize the company.” Bahamas Securities Regulator Takes Action Against FTX The Securities Commission of the Bahamas announced Thursday […]

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Bitcoin price risks $17K amid claim Binance may reject FTX takeover

Posted on November 9, 2022 By Cointelegraph By William Suberg

Further losses come in step with confusion over the future of FTX under Binance, while CPI data looms on the horizon.

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Bitcoin Price Lacking Momentum Above $21k, BTC Holders Are Safe: Here’s Why

Posted on October 31, 2022 By Aayush Jindal

Bitcoin price started a downside correction from $21,000 against the US Dollar. BTC could start a fresh increase if it remains stable above the $20,000 support.

Bitcoin is slowly moving lower from the $21,000 resistance zone.
The price is trading belo…

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Analyst Highlights Key Factors To Notice Following Recent Bitcoin Price Hike

Posted on October 31, 2022 By Denis

Investors are very particular about the price of Bitcoin. There’s no surprise there, seeing that the values of other digital tokens depend on it. When the price surges, the market goes uptrend and vice versa. Bitcoin, being the most prominent cryptocurrency, has maintained a stagnant price movement in the past couple of weeks. This fact has kept the crypto market in the red zone for a while, and investors are still sceptical about what’s to come. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits But the market saw a sharp surge in Bitcoin price. Its bullish move also reflects in the broader crypto market, with several tokens displaying a bullish move. Recent BTC Surge Bitcoin’s value increased by about 8.3% after the past seven days due to its recent surge. This price movement brought the total capitalization of the crypto market to $1 trillion as of yesterday. The coin stands at $20,463, per data from at the time of writing. Analysts have connected the recent surge of the token to a few things, including the past and current purchases from significant investors like Bitcoin Whales. Dating from January 2017, Bitcoin Whales have purchased an average of $15,800 worth of Bitcoin, according to data Meanwhile, another metric shows that BTC has been trading lower than its RP (Realized Price). Again, this information came from analysts. Based on the metric, Bitcoin can grow even further if the token trades beyond its RP. The RP of BTC is currently at a price just above $21K. The pattern of Bitcoin’s movement might change if its price goes and stays beyond this figure. As a result, monitoring the coin closely to see its probable outcome is essential. Information On Bitcoin Spent Output Profit Ratio Bitcoin’s Spent Output Profit Ratio (SOPR) analyses the participants’ behaviour. The recent movement of BTC seems to have affected this ratio, particularly in the past 24 hours. Chances are that the current level of the SOPR will act as a resistance, as it stays below one at the time of writing. The spent output value at creation must be divided by the realized value to deduce this ratio. In a nutshell, this is the price sold/price paid. This means the asset owner will profit if the ratio is over 1. Related Reading: Why This Bitcoin Indicator Points To Bullish Double Bottom Conversely, if the balance is less than 1, the solid asset is at a loss. The farther it goes away from 1, the more the loss incurred or profit gained. But if it’s equal to 1, a break-even event has occurred. Featured Image From Pixabay, Charts From Tradingview

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Bitcoin Price Struggles Under $21,000, Will The Bulls Power Through Again?

Posted on October 31, 2022 By anushsamal

Bitcoin price continues to remain under the $21,000 price mark as the bulls have lost force over the last 24 hours. In the past day, the coin lost 1.3% of its value. Bitcoin price is consolidated under the tough resistance of $21,000. If BTC keeps maintaining a sideways movement, then the bulls could lose further steam and drop to the nearest support line. The technical outlook of the coin remains positive on the one-day chart. The demand for the coin slipped slightly. However, it remains positive at the time of writing. Buying strength was also optimistic for BTC on the 24-hour chart. If demand accumulates slightly, then BTC might attempt to revisit the $21,000 level. A move above the $21,000 level will pave the way for a clear move to $22,000. The next levels that BTC might trade are between $28,000 and $22,000. If BTC picks up the pace, then the coin can also revisit the $22,000 mark. Buyers need to remain confident that Bitcoin bulls will be able to move north over the next trading sessions. Bitcoin Price Analysis: One-Day Chart BTC was trading at $20,600 at the time of writing. The coin has been trading laterally over the last few trading sessions. It is important that Bitcoin price doesn’t lose its current support as that would pull the price of the asset down, causing the bears to gain strength. If Bitcoin has to maintain its bullish momentum, the coin has to move past the $20,800 price level. Moving above that level will help Bitcoin reach $21,000, crossing $21,600, which could prove to be another major resistance point, and can propel the coin to $22,000. Losing bullish momentum will drag BTC down to $20,300 and then to $19,600. In the last trading session, the amount of Bitcoin traded fell slightly, indicating that buying strength dropped slightly. Technical Analysis The altcoin has continued to display positive buying strength on the one-day chart. Buying strength for the coin has remained on the upside for most of this month. The Relative Strength Index was still above the 60-mark despite a downtick. This meant that the coin was registering more buyers than sellers at the time of writing. Bitcoin price was above the 20-SMA line was also an indication that demand for the coin had been positive and that buyers were driving the price momentum in the market. Related Reading: Bitcoin Price Aims For $21,000, Will There Be A Wider Trend Change? BTC was displaying bullish signals as demand for the coin has remained consistently positive. The Moving Average Convergence Divergence indicates the price momentum and the overall direction of the coin. MACD formed green signal bars, which were increasing in size, and they were the buy signal for the coin. Parabolic SAR measures the strength of the price trend. The dotted lines were below the price candlestick, which meant that the price was on an uptrend. Related Reading: Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit Featured Image From Unsplash, Charts From TradingView

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Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit

Posted on October 30, 2022 By Hououin Kyouma

On-chain data shows the Bitcoin whales who bought around one month ago have continued to hold strong despite the price surge providing them with a chance to take some profit. Bitcoin 1 Month To 3 Month Old Supply Has Been Rising In Recent Days As pointed out by an analyst in a CryptoQuant post, the whales who bought at $19k about a month ago seem to not have realized their profits yet. The relevant indicator here are the Bitcoin supply age bands, which tell us how much coins are held by each cohort right now. These groups or age bands are divided based on the amount of time the coins belonging to them have been held stationary in a single wallet address for. For example, the 1D-1W age band includes all coins that haven’t been moved or sold since between one day and one week ago. Now, here is a chart that shows the trend in the Bitcoin supplies for some of the age bands over the past week: The data for all the different age groups in the market up to the three months old mark | Source: CryptoQuant As you can see in the above graph, the 1D-1W Bitcoin supply has been going up in recent days, suggesting there has been some fresg accumulation in the market. The less than 1D age band, however, saw some rise earlier as the price surge started, but it has been going down in the last couple of days. One significance of this group is that it reflects the fresh buying going on in the market. As this has stopped trending up, it means there is no longer many new purchases happening. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits The quant from the post notes that a lack of new buying pressure could imply the current price uptrend is unlikely to continue in the short term. Nonetheless, there is a positive sign in the Bitcoin market as well, and it is that the 1M-3M age band has been observing an increase recently. This maturation of coins into this group has only just taken place, suggesting whales bought up this supply about a month ago. Related Reading: Why This Bitcoin Indicator Points To Bullish Double Bottom At that time, the price was around $19k, meaning that these whales now have the opportunity to sell at a profit. But as the 1M-3M supply moving sideways since the rise shows, these investors continue to hold with conviction that there will be more profitable windows ahead. BTC Price At the time of writing, Bitcoin’s price floats around $20.7k, up 8% in the last week. Looks like BTC has rebounded from the dip a couple of days back | Source: BTCUSD on TradingView Featured image from Jaunathan Gagnon on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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Shiba Inu Jumps 30% In Last 7 Days As SHIB Basks In Green

Posted on October 30, 2022 By Christian Encila

Shiba Inu, earlier today, witnessed a significant surge as it went up by almost 20%, pushing its spot trading price to $0.000014. Although it was immediately rejected entry to the $0.000015 marker, the asset managed to outperform other cryptocurrencies belonging to the top 10 list in that particular department, including Bitcoin and Ethereum. SHIB tallies 31.7% increase over the last 7 days Shiba Inu was rejected at the crucial $0.000015 marker today A price correction is once again on the horizon for the asset It would appear SHIB continues to benefit from Dogecoin rallies as this latest price pump came on the same day Dogecoin increased by almost 80% before experiencing minor price correction. Shiba Inu’s $1.8 billion trading volume is also impressive, tallying an increase of 167%. This, however, went down a bit as the crypto experienced a slight decline in its spot trading price. At press time, according to latest data from Coingecko, the Dogecoin spin-off meme altcoin is trading at $0.000013. Its 24-hour gains dropped to just 9% but is still up 31.7% over the last seven days. Shiba Inu: Dealing With Selling Pressure A look at SHIB’s chart shows unabated selling pressure will come with the possibility of a movement towards the 0.382 Fibonacci Retracement Level (FBI) at $0.0000128 or the 0.5 FBI at $0.0000122. Related Reading: FLOW Diverted By Bearish Current Amid Relative Inactivity – Here’s Why Source: TradingView This will obliterate any bullish momentum that Shiba Inu gained over the last few days when it breached the $0.000015 marker. The asset’s Relative Strength Index (RSI) ended up being in the overbought zone, indicating the need for the SHIB price to stabilize before a resumption of an upward movement can happen. One crucial thing to look out for during this price dumping phase is the buying pressure which, if sustained, will likely lead the way for a test of the $0.000016 level. Shiba Inu, at least for this day, is on bullish trend and is less likely to experience high volatility. Its price movement might swing between $0.000015 and $0.0000128. Shiba Eternity Still Not Helping SHIB One of the things that developers and the SHIB community are hoping to help the crypto to reach higher levels is the release of the Shiba Eternity Game. It is a free mobile card fighting game that was launched on October 6, 2022, both on Android and IOS platform, and is part of an ecosystem for the asset that is still in development. Unfortunately, even after going online, the game failed to give the altcoin any momentum to break out of its slump. Thankfully, over the last few days, the broader crypto market initiated a bullish run that stopped the bleeding for the virtual coin. Recently, SHIB also indirectly took advantage of the news about Elon Musk’s Twitter take-over as it piggybacked at DOGE’s surge moments after the deal was finalized this week. Related Reading: MATIC Looks To Hit $1 Target After Breaching Major Resistance SHIB total market cap at $6.8 billion on the weekend chart | Featured image from Somag News, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal interpretation and should not be construed as investment advice.

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Bitcoin Price Just Saw Technical Correction, Why BTC Could Rise Again

Posted on October 28, 2022 By Aayush Jindal

Bitcoin price started a downside correction from $21,000 against the US Dollar. BTC is stable above $20,000 and might start a fresh increase.

Bitcoin is holding gains above the $20,000 and $20,200 levels.
The price is trading above $20,000 and the 100…

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Can Elon Musk Influence The Next US Election?

Posted on October 27, 2022 By Best Owie

The Elon Musk Twitter deal is almost at its end. A Bloomberg report stated that the plan was to finalize the deal by Fri. 28 October, transferring ownership to the billionaire. As the social media platform is about to switch hands, it has raised multiple questions regarding Musk’s plans for it and its impacts. Since Twitter’s influence spans every sphere of everyday life, could Musk’s acquisition influence the next US election? Twitter’s Influence On US Election Over the years, there have been multiple bans placed on political figures by Twitter. One of the most notable is the ban of former US president Donald Trump – a move that saw calls for ‘freedom of free speech’ on the platform, which Elon Musk himself has highlighted. Musk has previously made it known that when he took over the social media platform, he plans to ‘clean it up.’ His idea of a ‘clean up’ included making Twitter a platform that supports free speech. So it begs the question of how he intends to go about it. Related Reading: Dormant Ethereum Whale Rouses As Crypto Market Sees A Revival Once Musk takes control of Twitter, he will have the power to unban important political figures such as Donald Trump and Senator Ron Johnson. If the Tesla CEO does choose to do this, it may have a profound influence on the next US elections as it reinstates the access of these political figures to a wide audience once more. However, there is no telling if it is possible to further influence beyond lifting the bans on political figures in pursuit of free speech. The next US election will happen in 2024, and by then — assuming the deal goes through as planned, Musk will have had control of the social media platform for at least a year. This is enough time for some significant changes to the platform. Musk, Bitcoin, And Social Media Elon Musk has always been one of the biggest evangelists of Bitcoin and cryptocurrencies in general. Back in 2021, his electric vehicle company Tesla had briefly accepted Bitcoin payments before halting it due to environmental concerns. However, Musk has not stopped showing support for Bitcoin. Tesla still holds about $200 million worth of BTC on its balance as of the time of this writing. It is therefore not a long shot to expect that the use of Bitcoin could be promoted on Twitter once Musk takes over. Twitter already has the “Tip Jar” feature that allows users to tip content creators using Bitcoin and other cryptos. Musk’s previous idea was to expand this to include Dogecoin. So the billionaire’s takeover of Twitter could lead to an even larger presence of the crypto community on the platform. He could use his new position to promote Bitcoin as he has done in the past. Related Reading: Bitcoin Fails To Break $21,000, Is Uptober Still In Play? As for the Twitter deal, Musk does not seem too fazed about the court order to complete the deal by Oct. 28. “I think it’s an asset that has just sort of languished for a long time but has incredible potential,” Musk said during a Tesla earnings call. “Although obviously myself and the other investors are overpaying for Twitter right now.” Elon Musk visited the Twitter headquarters on Wednesday where he said he met “a lot of cool people.” He is expected to speak to Twitter workers on Friday about the future of the platform. While there are no public details on what this would entail, there have been reports that he plans to cut 75% of the 7,500 workers, leaving a skeleton staff of 2,000. BTC recovers above $20,700 | Source: BTCUSD on TradingView.com Featured image from Ekonomist, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Bitcoin Price Loses Steam At $20,500, Earnings Season Plays Against Crypto

Posted on October 27, 2022 By Reynaldo Marquez

The Bitcoin price is at risk of returning to its range below $19,500 if bulls fail to defend current levels. The cryptocurrency was trending higher after weeks of consolidation, leading to a spike in positive market sentiment, but optimistic participants might have been fast to proclaim more profits. Related Reading: Solana Recaptures $30 Support; Here Is What To Expect Based On This Indicator At the time of writing, the Bitcoin price trades at $20,400 with a 2% loss in the last 24 hours and a 7% profit over the previous week. Other cryptocurrencies in the top 10 by market cap hint at weakness but preserve their gains on high timeframes. The Bitcoin Price Reacts Poorly To Companies Earnings, What To Expect? Data from research firm Santiment indicates that the recent upside momentum in the Bitcoin price was followed by a spike in on-chain activity. In that sense, BTC’s trading volume and activity reached a 4-month high which usually precedes more significant moves. However, the recent earnings season in traditional markets could cap any bullish potential. Bitcoin and stocks are moving in tandem due to uncertainty in the macroeconomic landscape. Thus, earnings season has significantly impacted the nascent asset class. Today, Amazon (AMZN) and Apple (APPL) published their report on Q3, 2022. Like Meta (META), formerly known as Facebook, the companies failed to meet market expectations. As a result, the Nasdaq 100, the stock index that tracks the performance of top tech companies, dived. The weakness in the legacy financial markets has become a headwind for the Bitcoin price. Still, there might be hope for stocks, and Bitcoin, if the Nasdaq 100 can hold the line at its current levels. According to a pseudonym analyst: Pretty big sweep of last week’s low on the $NASDAQ. Volatility all around with $META & $AMZN getting slaughtered today. $AAPL with a solid report but being dragged down by the rest a bit. Kinda expecting this one to take back some of those losses to end the week though. The Future Might Be In The Past According to Jurrien Timmer, Director of Macro for Fidelity, earnings season looks like “any other.” 71% of public companies beat expectations by a relatively small margin. Thus, Timmer classified the event as another “nothing to see here” quarter. This data suggest that the Bitcoin price and other assets might continue doing what they have done across 2022: trend sideways with no clear direction. Next year might be a decisive year for global markets, but now Timmer hints at more boredom regarding price performance. Related Reading: Why Crypto Market Fear Mirrors Lull In Volatility The expert believes the stock market, and therefore all correlated assets, are moving in tandem with the 1946 and 1947 markets, periods of high inflation for the U.S. dollars. Ultimately, this scenario could be negative for investors on the short side of the trade. Today’s market cycle has similarities to 1946-47. Then, as now, stock prices reflected the impact and then hangover of a major fiscal/monetary impulse. If the analog holds, we could be in the process of another 15% counter-trend rally followed by another retest of the lows. pic.twitter.com/2VFvaJw2qd — Jurrien Timmer (@TimmerFidelity) October 26, 2022 

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The Inverted Bitcoin Chart Bears Don’t Wanna See | BTCUSD Analysis October 27, 2022

Posted on October 27, 2022 By Tony Spilotro

In this episode of NewsBTC’s daily technical analysis videos, we flip the Bitcoin price chart upside down to get a unique perspective on the market. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 27, 2022 We also examine a weekly buy signal on BTCUSD using the Relative Strength Index, and show several examples of the signal’s effectiveness using Bitcoin and other assets. Related Reading: Bitcoin Bollinger Band Breakout Starts To Squeeze Shorts | BTCUSD Analysis October 26, 2022 Inverted Bitcoin Price Chart Could Suggest Bear Market Is Over When price action seems confusing, inverting the chart of any asset can help to remove bias and provide a clearer picture. Looking at BTCUSD from this perspective, it sure looks like a retest of horizontal support turned resistance. There is also an ongoing breakdown of an uptrend line. But remember, everything is upside down. On higher timeframes, diagonal downtrend resistance remains intact. We can also clearly see very similar price action across the last major “top” which is actually the 2018 bear market bottom. When you flip things right side up again, does Bitcoin really look all that bearish? Bitcoin bulls can turn that frown upside down | Source: BTCUSD on TradingView.com Related Reading: Are Bitcoin Bulls Ready To Stampede? | BTCUSD Analysis October 25, 2022 BTCUSD Weekly RSI Buy Signal Days Away From Confirming Moving along, we also have a potential buy signal on the weekly Relative Strength Index. This one is particularly important, as this is how the tool’s creator intended it to work. The buy signal happens when a higher high is made on the RSI, after reaching oversold conditions and holding above oversold territory on a subsequent bounce.  It does help that BTCUSD weekly is also working on breaking out of downtrend RSI resistance also at the very same time. Looking back at past Bitcoin bottoms, we can see that it was this exact buy signal that put in each bottom on weekly timeframes. We can also see there is a cyclical rhythm to when each downtrend has come to its conclusion. Cyclical timing could suggest crypto winter is over | Source: BTCUSD on TradingView.com Related Reading: Can Bitcoin Bring An End To Crypto Winter? | BTCUSD Analysis October 24, 2022 The End Of The Dollar Rally Could Conclude Crypto Winter If that was a RSI buy signal on the BTCUSD weekly, what we are about to see is a sell signal on the RSI via the DXY weekly. The sell signal on the Dollar Currency Index is beginning to break down from a diagonal RSI support line, and break down from its ongoing parabola.  Putting the DXY and Bitcoin chart side to side, we can see that there are directly opposing signals on each chart. Watch the full video for the complete analysis and more comparisons. The dollar and BTC are giving opposite signals | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Posted on October 23, 2022 By Kevin Helms

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in Stark Contrast to Path Fiat Currencies TakeFidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank […]

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A Look at the First Phone-to-Phone Bitcoin Transfer Using a Nokia N900 Smartphone

Posted on October 23, 2022 By Jamie Redman

A Look at the First Phone-to-Phone Bitcoin Transfer Using a Nokia 900 SmartphoneWhen Satoshi Nakamoto created Bitcoin, the full node client came with a wallet often referred to as Bitcoin-Qt. Nakamoto’s simplified payment verification (SPV) concept was not available until two years later, after the former Bitcoin Core developer Mike Hearn published BitcoinJ in 2011. However, prior to the first SPV client or optimized lightweight bitcoin wallet, […]

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Analysts Say an Onslaught of Fed Rate Hikes Could Spur a ‘Bond Market Flash Crash’ or ‘Blow up the Treasury’

Posted on October 23, 2022 By Jamie Redman

Analysts Say an Onslaught of Fed Rate Hikes Could Spur a ‘Bond Market Flash Crash’ or ‘Blow up the Treasury’The U.S. economy has been struggling with inflation running rampant and investors are eagerly waiting for the U.S. Federal Reserve to announce the next federal funds rate hike next month. Harris Kupperman, the founder of the hedge fund Praetorian Capital, believes the onslaught of Fed rate hikes could very well “blow up the Treasury.” Furthermore, […]

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Bitcoin Bearish Signal: Dormant Supply On The Move Again

Posted on October 23, 2022 By Hououin Kyouma

On-chain data shows some dormant Bitcoin supply is again moving into exchanges, something that could be bearish for the price of the crypto. Bitcoin Exchange Inflow For Old Coins Has Observed Spikes In Recent Days As pointed out by an analyst in a CryptoQuant post, some coins in the age ranges 2y-3y and 3y-5y have recently been deposited to exchanges. The “exchange inflow” is an indicator that measures the total amount of Bitcoin being transferred into the wallets of all centralized exchanges. When the value of this metric is high, it means investors are depositing large amounts to exchanges right now. Such a trend, when prolonged, can prove to be bearish for the value of the crypto as it can be a sign of dumping from holders. A modified version of this indicator is the exchange inflow “Spent Output Age Bands” (SOAB), which tells us about the individual contribution to the total inflows from the different supply groups in the market. Related Reading: Data: Bitcoin Whales Who Accumulated At $18k Have Continued To Hold Strong These cohorts are categorized based on the amount of time their coins have been sitting still for. The relevant age bands here are “2y-3y” and “3y-5y”; the below chart shows the trend in the exchange inflows coming from these supplies: Looks like the value of the metric for these cohorts has been raised in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange inflow SOAB has spiked up for these coin groups during the last couple of days or so. This means that some investors have been depositing sizeable amounts of coins aged between 2 to 3 years and those between 3 to 5 years. Related Reading: This On-Chain Metric Suggests Bitcoin Not In Danger Of Another Sharp Drawdown Such old supply is called the “long-term holder” supply. In general, the older the coins are, the less probable they are to move at any point. So, any movement from these coins, especially those to exchanges, may have noticeable implications on the price of Bitcoin. BTC Price At the time of writing, Bitcoin’s price floats around $19.1k, up 1% in the last seven days. Over the past month, the crypto has lost 1% in value. The below chart shows the trend in the price of the coin over the last five days. The value of the crypto seems to have rebounded back from the dip a couple of days ago | Source: BTCUSD on TradingView Bitcoin has continued to show stale price movement in the past week as the crypto has been mostly sticking around the $19k level. Two days or so ago BTC did make an attempt to break the monotony by plunging below to $18.7k, but it wasn’t long before the coin was back at $19k. Featured image from Max Saeling on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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While Overall NFT Transactions and Buyers Are Down, NFT Sales Jumped 2% Higher Than Last Week

Posted on October 23, 2022 By Jamie Redman

During the last week, non-fungible token (NFT) sales volume has managed to climb 1.9% higher than the week prior with $85 million in NFT sales in seven days. However, the number of NFT buyers slid by 12.63%, and the number of NFT transactions is down 19.19% on October 23, 2022. NFT Sales Record a Slight […]

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An Unknown Miner Commands More Than 51% of BSV’s Hashpower, Consecutive Strings of Empty Blocks Makes Chain Unreliable

Posted on October 23, 2022 By Jamie Redman

An Unknown Miner Commands More Than 51% of BSV’s Hashpower, Consecutive Strings of Empty Blocks Makes Chain UnreliableA single miner has managed to overtake a large portion of the Bitcoinsv (Bitcoin Satoshi’s Vision) blockchain capturing more than 80% of the hashrate on October 17. Today, the unknown miner’s hashpower commands around 54% of the Bitcoinsv’s computational power and during the last seven days, the stealth miner captured 64.5%. Unknown Hashpower Captured 64% […]

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Conflicting Opinions on Future of US Economy, Bitcoin Added to Guinness World Records, and More — Week in Review

Posted on October 23, 2022 By Bitcoin.com

Economist and gold bug Peter Schiff has warned that the United States Federal Reserve’s actions to rein in inflation could lead to a “massive financial crisis” or flight away from the dollar on a global scale. Meanwhile, Joe Biden says the economy is “strong as hell,” and Bank of America and JP Morgan also say […]

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Interview With Evan Luza, Cool Cats Co-Founder and Advisor to Bitcoin․com Verse NFT Collection

Posted on October 23, 2022 By Bitcoin.com

Bitcoin.com yesterday announced that buyers in the VERSE token sale, which starts on November 1, will receive exclusive NFTs. Register now at getverse.com to increase your Schance of getting the allocation you want. We also announced that Evan Luza, the co-founder of Cool Cats, had joined Bitcoin.com to advise on the Verse NFT project. Cool […]

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Report: BTC Mining Investment Platform Declared Pyramid Scheme by South African Consumer Watchdog

Posted on October 23, 2022 By Terence Zimwara

According to the National Consumer Commission, about 4,000 South Africans who invested in a bitcoin mining equipment supplier, Obelisk, may have participated in a pyramid scheme. The commission said participants in the pyramid scheme may have lost as much as over $6 million. Obelisk Used Social Media Platforms to Lure Victims A South African consumer […]

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Name Price24H (%)
bitcoin
Bitcoin (BTC)
$22,989.00
0.44%
ethereum
Ethereum (ETH)
$1,642.85
1.38%
tether
Tether (USDT)
$1.00
0.05%
binancecoin
BNB (BNB)
$328.20
0.74%
ripple
XRP (XRP)
$0.401583
0.83%
cardano
Cardano (ADA)
$0.392474
1.45%
solana
Solana (SOL)
$23.24
-0.98%
shiba-inu
Shiba Inu (SHIB)
$0.000014
-1.44%
uniswap
Uniswap (UNI)
$6.84
0.14%

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