Skip to content
InvestaFeed.com

InvestaFeed.com

Digital Currency, Stock Market, and Investment News from your Reliable Sources Channel

  • News
  • Digital Currency
  • Stock Market
    • PSE
  • Tips and Guides
  • Toggle search form

Tag: Newsbts

SushiSwap To Redirect 100% Trading Fees To Treasury

Posted on January 24, 2023 By Samuel Edyme

While the DeFi market has continued to mirror the crypto market rally, more innovations have been introduced to the ecosystem. In today’s news, SushiSwap, the sixth-largest decentralized exchange (DEX) by 24 hours trading volume, has passed a proposal to relocate 100% of its trading fees to the SushiSwap treasury for maintenance and expenses. Related Reading: SushiSwap Head Chef Suggests Cooking Up New Token Model – Will The DEX Survive 2023? SushiSwap Introduces New Update This new update comes after CEO Jared Grey voiced warnings that the exchange treasury stability is numbered as it has “only 1.5 years of treasury runway left,” despite having cut down the annual operating expenses from $9 million to $5 million during the ongoing crypto winter. According to a presented governance proposal by the developers of the SushiSwap decentralized exchange, which was passed on January 23, the SushiSwap exchange will now extend the usage of trading fees by redirecting them to the exchange’s treasury to enhance the operation and maintenance of the exchange over the next one year.  The proposal noted, “Revenue to the treasury will be 50% ETH and 50% USDC, with a projection of ~$6m being earned over the next year if this proposal were to pass.” In another proposal passed the same day, approximately 99.85% of voters voted in favor of “clawing back” 10,936,284 unclaimed SUSHI ($14.8 million) tokens to be rewarded to early liquidity providers during the DEX’s launch in 2020. SushiSwap Painful Loss And Recovery  Undoubtedly the crypto winter hit most projects in the industry, including DeFi platforms such as SushiSwap. Last December, SushiSwap CEO Jared Grey revealed that the DEX experienced a $30 million loss over the past 12 months on incentives for liquidity providers (LPs).  To counter that loss and initiate recovery, Grey revealed plans to refine SushiSwap’s tokenomics so that LPs are no longer bankrolled with emissions and redesign the complete model of bootstrapping liquidity on the exchange.  The “Kanpai” governance proposal, which aims to relocate trading protocol fees to the treasury, was also referred to by Grey when illustrating the plans to update the SushiSwap exchange.  “Put simply, it (Kanpai) allows the protocol to rebuild its cash reserves to continue to pay competitive wages, pay for critical infrastructure, & to diversify its Treasury with funds collected in the base pairs of assets, like ETH, stablecoins, etc. Kanpai is a temporary solution,” Grey stated. Related Reading: SushiSwap: Deciphering How SUSHI Is Posting Unparalleled Price Growth Speaking of SushiSwap, the protocol’s native token, SUSHI, has been in a rally, following the rest of the DeFi sector.  SUSHI has surged by over 40% in the last 30 days; meanwhile, at the time of writing, SUSHI trades at $1.34, down by 1.4% in the previous 24 hours and with a trading volume of $58.6 million in the same period. Featured image from BlockchainReporter, Chart from TradingView

Digital Currency, News

Chiliz (CHZ) Continues To Record Significant Gains, Moves Over 5% In The Last Day

Posted on January 24, 2023 By Jammy Hunts

The global cryptocurrency market cap stands at $1.05 trillion, representing a 0.19% increase in the last day. As the cryptocurrency market continues to rally, altcoins are posting incredible gains. For instance, Chiliz’s price is gaining today, reflecting the positive moves of the general market. CHZ’s trading volume has also increased by 82.02% in 24 hours, showing rising interest among investors. CHZ is among the top gainers today, recording an almost 6% increase in value. The asset has outperformed market leader Bitcoin today, which recorded a 0.02% increase in 24 hours. This price increase might support a bull run in the coming weeks. Related Reading: Money Leaves ADA, SOL To Small Cap Altcoins, Here’s Where It’s Headed Some experts have predicted 2023 to be bullish, and the price performance of cryptos so far is leaning toward this prediction. What Is Behind The Chiliz (CHZ) Rally? CHZ acts as a fan token and has always been a community-driven project that relies on voting power from members. The Chiliz project has many lucrative partnerships with soccer giants such as Juventus, Manchester City, FC Barcelona, and Paris Saint-Germain. It equips the club supporters with limited editions of fan tokens. Sports is a lucrative sector worldwide, with fans investing heavily in merchandise and fan tokens to support their favorite teams. The platform’s native token CHZ is the currency for purchasing these fan tokens through smart contracts. These fan tokens are offered in limited supply to preserve their scarcity and uniqueness. The Chiliz development team posted the progressive strides the network has made in 2022 and early 2023 on Twitter. It has formed new partnerships with notable partners such as Italian Serie A teams, MLS teams, and SL Benfica. Also, the Scoville Testnet upgrade launched in 2022 has recorded success in stages 1-5. According to the development team, Stage 6 will launch in 2023. CHZ Price Prediction Where Is it Headed? Chiliz (CHZ) is trading at 0.1461, a 5.29% increase in the token’s value. The Chiliz token is in an uptrend, as the formation of consecutive green candles with higher highs indicates. CHZ is trading above its 50-day Simple Moving Average (SMA) and below its 200-day (SMA). It implies a short-term rally as the bulls seize control of the market. The support levels are $0.130459, $0.133246, and $0.136924, while the resistance levels are $0.143388, $0.146176, and $0.146176.   Chiliz has broken its first resistance level of $0.133246 and turned it to support, leading to a positive movement on the charts. The Relative Strength Index (RSI) is at 64.85, showing that Chiliz is close to the buy zone but not in the overbought region. If the bullish pressure sustains,  Chiliz will likely surpass its next resistance level soon. The MACD (Moving Average Convergence Divergence) is now above the signal line. It also indicates slight bullish pressure. However, the MACD is still tentative and reflects a possible reversal if the bears seize control. Related Reading: Solana (SOL) Network On Hyperdrive As TVL And NFT Trade Volume Soars Expect CHZ to sustain its gains in the coming days. The asset will likely surpass the $0.14676 level soon. However, if the resistance prevails, it will retrace to the $0.133246 support. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

Bitcoin Surges To 23,000 As Miners Sales Sees Multi-Year Low

Posted on January 24, 2023 By Samuel Edyme

Bitcoin has continued with its bullishness as it surged its price above the USD$23,000 level, a positive signal amid miners reduced the sales of their mined coins. On-chain flows flagged by Bitifinex analysts indicate that the amount of Bitcoin moved from Bitcoin mining addresses to wallets owned by cryptocurrency exchanges has declined to multi-year lows. Selling Power Low, Favorable For A BTC Rally                       As per a Bitfinex analyst, Bitcoin miner sales are at a three-year low. The report claims that the selling could be a sign that Bitcoin miners are in the mood to accumulate coins as they expect the surge of prices of the flagship cryptocurrency. The declined Bitcoin sales from mining companies mean low selling pressure from these market actors. Therefore, it signals bullishness for the broader market. Related Reading: Bitcoin Reaches One-Month High As Mini Bull Run Continues The analysts, however, stated that the recent uptick in Bitcoin price might witness a correction as investors try to recoup their profits amid the current price surges. The analysts identified large wallet sizes (>$1M) as the majorly responsible for accumulating Bitcoin. They further said such wallets, as well as major market actors, are the ones creating the buying pressure that comes after the FTX saga and a series of bearish events generally witnessed last year. The analysts mentioned that since the second week of January, the numbers of wallets with $1,000 and $10,000 worth of Bitcoin have increased. The analyst further acknowledged that the trading activities of retail investors had accompanied the uptrend. According to the figure above, the current low Bitcoin selling pressure coincided with the lowest sales in November last year. The current low level signals a green (bullish) indicator for the cryptocurrency. When miners sell more BTC, it implies a bearish for the coin value. Conversely, when mining firms don’t have the selling urge, this suggests a bullish trend for the crypto market. Related Reading: Bitcoin Mining Stocks In Solid Gains As Crypto Market Rallies Today’s Bitcoin Price Bitcoin has surged its value by almost 40% this month, trading at $22,909, up 1.48% on Tuesday. The crypto is trading at levels not witnessed since the downfall of the FTX exchange. BTC volume stands at about $26.82 billion, an increase of 12.78% in the past 24 hours, as per Coinmarketcap. As highlighted above, the rise in Bitcoin value could be attributed to whales committed to accumulating coins amid surging prices. The bullish trend is also seen in the global crypto market capitalization, which is trading at a higher level, around $1.06 trillion, up 1.27% in the last 24 hours, according to Tradingview. Featured image from Unsplash, Chart from TradingView.

Digital Currency, News

Repeat Of April 2019? Bitcoin Rally Shows Similar Break Above These Key Levels

Posted on January 24, 2023 By Hououin Kyouma

On-chain data shows Bitcoin has broken above these three key levels in a manner reminiscent of the rally in April 2019. Bitcoin Breakout Shows Initial Similarities To April 2019 Rally According to data from the on-chain analytics firm Glassnode, BTC has broken above the three investor cost-basis levels for the first time since the COVID-19 crash and the 2018-2019 bear market. The relevant indicator here is the “realized price,” to understand the concept of the “realized cap” it needs to be looked at first. The realized cap is a capitalization model for Bitcoin that assumes that each coin in the circulating supply has its real value as the price at which it was last moved rather than the current BTC price (which the normal market cap uses for its calculation). Now, from the realized cap, a “realized price” can be obtained by dividing the metric by the total number of coins in circulation. Since the realized cap accounted for the prices at which investors bought their coins (which is to say, their cost basis), the realized price can be thought of as the average acquisition price in the market. This means that if the normal price of Bitcoin dips below this indicator, the average holder can be assumed to have entered a state of loss. While this realized price is the average cost basis for the entire market, the metric can also be defined for only specific groups of investors. The BTC market can be divided into two primary cohorts: short-term holders (STHs) and long-term holders (LTHs). Investors who bought their coins within the last 155 days fall into the STHs, while those holding them since before that threshold are included in the LTHs. Related Reading: Dogecoin Whale Transfers $5M In DOGE To Coinbase, Bearish Signal? Here is a chart that shows the trend in the Bitcoin realized price for the entire market, as well as for these two holder groups separately, over the last few years: BTC seems to have broken above all these levels recently | Source: Glassnode on Twitter As the above graph shows, Bitcoin had broken above the STH cost basis and the entire market’s realized price earlier in the latest rally, suggesting that the average STH and the overall average investor was back in profit. In the most recent continuation to the rally, the crypto has now surged above the LTH cost basis of $22,400. This means that the average investor in every segment is now in the green. Related Reading: Bitcoin Puell Multiple Starts To Leave Bear Market Zone, Bull Rally Here? The last time Bitcoin displayed a breakout above all these levels was following the black swan COVID-19 crash, which had briefly taken the coin below these prices. A similar trend also formed in April 2019, when the bear market of that cycle ended, and a bullish transition took place. Though it’s early to tell right now, this similarity between the two rallies could hint about the path that the current one might also end up following. BTC Price At the time of writing, Bitcoin is trading around $22,900, up 8% in the last week. Looks like BTC has been moving sideways in the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com

Digital Currency, News

Money Leaves ADA, SOL To Small Cap Altcoins, Here’s Where It’s Headed

Posted on January 24, 2023 By Best Owie

With the crypto market rally, altcoins have benefitted just as much as bitcoin. Digital assets across the space have been able to return to their pre-FTX collapse levels, signaling the start of a bull run. However, as the market begins to settle into this new normal, investors are moving gains around from larger cap assets to take advantage of possible price movement in smaller altcoins. Cycling Out Money To Small Cap Altcoins A recent report from on-chain data aggregation website Santiment shows that investors may be moving money out of larger cap coins such as Cardano and Solana and moving to small cap coins. This paints a picture of a rotation of funds rather than outright pulling money out of the crypto sector. Related Reading: Bullish Indicator: Bitcoin Shakes Off Genesis Bankruptcy Filing Santiment notes that the large gains recorded by the likes of Solana, Cardano, and Polkadot are now being moved into smaller altcoins. Most of these coins are top 200 and below tokens with market caps lower than $300 million. The cycling of funds into these smaller altcoins is shown by their address activity. The image shared by Santiment shows a significant uptick in the address activities of these coins. Most notably, the uptick was seen from last week as a lot of these larger cap coins hit new local peaks. Money flows out from large cap to small cap altcoins | Source: Santiment The small cap coins mentioned in the report are TRADE, RBN, SLP, PLSPAD, POND, MITX, MTH, and CBG. Most of these are coins flying under the radar. Ribbon Finance (RBN) which is the most prominent on the list is only at a $139.7 million market cap but has risen 24% in the last seven days. What Happens To These Tokens? The tokens mentioned by Santiment are still small enough that they can see prominent movement with just a fraction of the amount needed to move the prices of the likes of SOL and ADA. This means that if this rotation of gains from large caps to small cap altcoins continues, then these tokens could see positive movement in the coming days. Related Reading: Crypto Analyst Says Bitcoin Price Could See Another 30% Rally However, for coins with such low market caps, just as it is easy to pump their prices, it is also just as easy to drag their prices down with sell-offs from a few large holders. It becomes a double-edged sword for investors who follow the movement. On one hand, it could mean very large gains in a short time, but on the other hand, could see them lose money fast. A good thing about this though is that attention is being spread out instead of just focusing on a handful of coins. As wallet activity rises for these altcoins, it could trigger exploration into similarly priced altcoins which could benefit from new interest. Crypto market cap crosses $1 trillion as investors move money around | Source: Crypto Total Market Cap on TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from MARCA, chart from TradingView.com

Digital Currency, News

Solana (SOL) Network On Hyperdrive As TVL And NFT Trade Volume Soars

Posted on January 24, 2023 By Christian Encila

Solana (SOL) is on hyperdrive as the network quickly gains momentum in terms of liquidity which are seen at more than 300% as of press time. Following a sweeping price decline, Solana has turned the tide with metrics with flying colors. Here’s a quick glance at SOL performance of late: SOL metrics and trustworthiness score looking positive Solana’s TVL seen to jump higher Solana rolls out Saga Pass Cards There is sizeable growth seen both in terms of NFT with the rollout of the Saga Pass Cards and market cap. Solana was seen to nosedive the past couple of weeks, but it’s now back on the top 10 cryptocurrencies list that is stacked at the green lane. Related Reading: Aptos Climbs 75% – What Keeps APT In The Green In Last 7 Days SOL Price Gaining Traction According to price monitoring by Coingecko, SOL price is currently trading at $24.28, up 3.0% in the last seven days. Evidently, following the FTX crash, short-term traders and the bulls were fixated on SOL which unlocked roughly 100 million coins from different contacts which could have punched a hole in the market, driving the price of SOL to null or $0. But, that didn’t happen as SOL holders chose to hold out their coins waiting for better days and not panic and sell their SOL holdings. True enough, the market gained traction and recovered with most assets moving north, including SOL which made the investors extremely happy with the gains. SOL total market cap at $8.9 billion on the daily chart | Chart: TradingView.com With this hypergrowth happening with Solana, the investors decided to accumulate longs which triggered SOL’s open interest to accelerate higher. As a matter of fact, around $460 million worth of orders is currently open at crypto derivative exchanges. Could this be bad news for SOL? Now, the open interest really isn’t the culprit here as it can’t really pull SOL price down but it’s the increased number of longs that could trigger a squeeze brought about by SOL holders rapidly selling their holdings to counterpunch future risks. On the brighter side, nothing is set in stone and SOL holders and investors need not panic right now as SOL has not gained much momentum yet to trigger millions in the liquidation of assets. SOL Currently In No. 2 Spot On Top Chains List SOL is performing so well that it managed to jump to the second spot on the top chains list in terms of NFT trade volume seen in the past month. SOL’s NFT trade volume is seen to spike and gain momentum in the past couple of weeks. Top chains by NFT volume (30 days) 🥇@ethereum 🥈@solana 🥉@0xPolygon 4️⃣@Immutable 5️⃣@Cardano 6️⃣@flow_blockchain 7️⃣@BNBCHAIN pic.twitter.com/trNHUxk1fB — Delphi Digital (@Delphi_Digital) January 21, 2023 Solana Mobile has announced that they would be rolling out new cards on rotation. Basically, the first card is exclusive only to holders of the OG Saga Pass, and then a random card will be introduced every week. Additionally, the Saga Pass Card Collection is set to be verified via MagicEden real soon. SOL TVL. Image: Defillama Related Reading: ApeCoin Buckles As News Of Stolen BAYC NFT Hits The Market Meanwhile, according to DeFiLlama’s numbers, the total value locked in the network has been on the rise since the start of the year, which is encouraging. Featured image by Manula.com

Digital Currency, News

ApeCoin Buckles As News Of Stolen BAYC NFT Hits The Market 

Posted on January 24, 2023 By Christian Encila

The Bored Ape Yacht Club NFT collection has been the target of an exploit this January 20th. FranklinIsbored, one of the biggest holders of BAYC NFTs, is targeted with an exploit of OpenSea’s stolen ApeCoin policy which allowed the attacker to sell a marked Bored Ape.  This Bored Ape was marked  as “under review for suspicious activity” which supposedly locks the NFT from being sold. Franklin has been the target of this exploit for the second time this week with the first one being January 20.  Hey @opensea can you PLEASE fix your stolen ape policy? This ape with a yellow caution mark sold to my OpenSea WETH offer for 65 WETH. You collected 1.625 WETH in fees, and I cannot resell this ape. It was already marked before the sale happened. You have failed with this policy. pic.twitter.com/jGO9sClKbi — Franklin (@franklinisbored) January 20, 2023 Since then, ApeCoin, the native token of the Bored Ape Yacht Club ecosystem, has fallen 1.3% in value in the past 24 hours. APE is currently trading at $5.80, up 16.6% in the last seven days, data from Coingecko show.  The Gist Of The Situation The two exploits happened within three days of each other. According to Franklin’s tweets, the flagged apes can’t be sold since they are subjected for review. These stolen assets shouldn’t have been sold in the open market according to OpenSea’s stolen item policy.  The exploit works as the attacker uses OpenSea’s “Match Advance Order” system to “Mint” and sell it to Franklin. According to recent news, the total amount of Bored Ape and Mutant Ape NFTs being stolen has now reached nearly $20 million.  It happened again – second time in a week someone has exploited OpenSea’s stolen ape policy to sell to my collection offer after it was already marked as “under review for suspicious activity” (yellow mark). They used a “Match Advanced Order” function to “Mint” and sell to me. pic.twitter.com/21hijgtUse — Franklin (@franklinisbored) January 22, 2023 OpenSea has not been transparent with the amount of stolen NFTs on the platform. Beetle, a self-described on-chain sleuth, has recently released charts of the platform’s number of stolen NFTs. In total, 1,278 NFTs have fallen in the hands of cyber-thieves within the platform. The NFT marketplace has not responded since the news hit the market.  Bored Ape. Image: Forbes ApeCoin Still Showing Potential Even with the negative news surrounding BAYC, the token is still poised to see gains in the coming days. At the time of writing, the charts show that ApeCoin bulls are able to break through the $5.867 resistance.  For the bullish momentum to continue, the token should close today above its current resistance which would give the bulls a chance to move upwards. However, if the resistance holds, a retest of the $5.063 support could occur in the coming days.  Related Reading: THETA Breaches $1 Level Courtesy Of Solid On-Chain Developments Crypto total market cap now showing signs of strength and reclaims the $1 trillion territory | Chart: TradingView.com Related Reading: Aptos Climbs 75% – What Keeps APT In The Green In Last 7 Days The token also has a strong correlation with Bitcoin which is retesting the $23,000 resistance. If Bitcoin closes above this crucial $23k resistance, ApeCoin will have the boost needed to grab its September 2022 price levels.  For now, investors and traders should focus on breaking through ApeCoin current resistance as a breakthrough on this level would mean more gains in the medium and long term.  -Featured image from African Wildlife Foundation

Digital Currency, News

Dogecoin Whale Transfers $5M In DOGE To Coinbase, Bearish Signal?

Posted on January 24, 2023 By Hououin Kyouma

Data shows a Dogecoin whale has deposited more than $5 million in the crypto to Coinbase. Here’s what it may mean for DOGE’s price. Dogecoin Whale Sends 57 Million DOGE To Crypto Exchange Coinbase As per data from the crypto transaction tracker service Whale Alert, a massive Dogecoin transaction has taken place on the blockchain today. In total, this transfer involved the movement of 57,056,400 DOGE, worth upwards of $5 million at the time the transaction was sent. Since the amount here is so large, the entity behind the transfer is likely to be a whale, or at least a group made up of multiple large investors. Due to the sheer volume of tokens involved in transactions like these, they can sometimes cause noticeable ripples in the price of the asset. But what change may potentially be produced in the crypto’s value from such a movement of coins depends on several factors, with the exact intent behind the transaction being the main one. Related Reading: Bitcoin Puell Multiple Starts To Leave Bear Market Zone, Bull Rally Here? Here are some specifics surrounding the latest Dogecoin whale transaction, which may shed some light on why the investor decided to make this move: Looks like the holder only had to pay a small fee of $0.21 for this massive transfer to be possible | Source: Whale Alert As can be seen above, the sending address for this Dogecoin transaction was an unknown address, which is a type of address that’s unattached to any known centralized platform, and thus is likely a personal wallet. The receiver in this case was an address affiliated with the crypto exchange Coinbase. Note that the transaction details show there being another receiver present for this transaction, with the total amount of the transfer being almost $10.5 million. But on closer inspection, it’s clear that it’s just the same address as the sender, meaning that this output is only showing the amount still remaining in the original wallet (that is, a bit more than $5.3 million, as $5.1 million went towards Coinbase). Related Reading: Bitcoin Bullish Signal: Whales Go On $1.4B Buying Spree A transaction like this where coins move from a personal wallet to an exchange is called an exchange inflow. Investors usually deposit to exchanges for selling purposes, so inflows can have bearish implications for the price of the meme coin. If this Dogecoin whale truly made this transfer with the intent to sell on Coinbase, then DOGE may feel a negative effect from it. Data from WhaleStats, however, shows that the crypto was in the top 10 most bought tokens by the largest BNB Smart Chain (BSC) whales just yesterday. JUST IN: $DOGE @dogecoin now on top 10 purchased tokens among 100 biggest #BSC whales in the last 24hrs 🐳 Check the top 100 whales here: https://t.co/0SYnjw0xQs (and hodl $BBW to see data for the top 4000!)#DOGE #whalestats #babywhale #BBW pic.twitter.com/G6RCR4INnt — WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 23, 2023 Such accumulation from whales can generally be bullish for the price, so depending on the scale of these purchases, they can make up for any possible selling pressure today’s whale may cause. In such a scenario, Dogecoin would likely not feel any impact from the exchange inflow. DOGE Price At the time of writing, Dogecoin is trading around $0.0889, up 5% in the last week. The value of the crypto seems to have climbed up in recent days | Source: DOGEUSD on TradingView Featured image from Richard Sagredo on Unsplash.com, chart from TradingView.com

Digital Currency, News

Bitcoin Bull Trap Or Bull Run? This Is What Glassnode Says

Posted on January 24, 2023 By Jake Simmons

The Bitcoin price is up 40% year-to-date (YTD) and has recaptured the $23,000 level. However, with ongoing concerns around DCG and Grayscale as well as macroeconomic uncertainties, many investors doubt the sustainability of the recent price rally. With higher prices, motivation among investors may be increasing to use the current price level to exit and gain liquidity, especially after the long and painful bear market in 2022, as Glassnode discusses in its report. The renowned on-chain analysis firm examines in its newest research whether Bitcoin’s recent bounce above the price it has last seen before the FTX collapse is a bull trap or if indeed a new bull run is on the horizon. Bitcoin On-Chain-Data Suggests Glassnode notes in its report that the recent price spike in the $21,000-$23,000 region has resulted in the reclamation of several on-chain price models, which has historically meant a “psychological shift in holder behavior patterns.” Related Reading: Bitcoin Weekly RSI Reaches Line Between Bear & Bull Market The company takes a look at the Investor Price and Delta Price, noting that in the 2018-2019 bear market, prices stayed within the confines of the Investor-Delta price band for a similar amount of time (78 days) as they currently do (76 days). “This suggests an equivalency in durational pain across the darkest phase of both bear markets,” Glassnodes states. In addition to the duration component of the bottoming phase, Glassnode also points to the compression of the investor delta price range as an indicator of the intensity of market undervaluation. “Considering the current price and compression value, a similar confirmation signal will be triggered when the market price reclaims $28.3k.” Regarding the sustainability of the current move, the analysis notes that the recent rally has been accompanied by a sudden increase in the percentage of supply in profit, rising from 55% to over 67%. This sudden increase in 14 days was one of the strongest swings in profitability compared to previous bear markets (+10.6% in 2015 and 8.3% in 2019), which is a bullish signal for Bitcoin. Following last year’s capitulation events, when a majority of investors were pushed into a loss, the market has now transitioned to a “regime of profit dominance,” which Glassnode says is “a promising sign of healing after the strong deleveraging pressure in the second half of 2022.” Less bullish, however, is the selling pressure from Bitcoin short-term holders (STHs), traditionally “an influential factor in the formation of local recovery (or correction) pivots.” The recent surge has pushed this metric above 97.5% in profit for the first time since its November 2021 all-time high, massively increasing the likelihood of selling pressure from STHs. Long-term Bitcoin holders (LTHs) have risen back above the cost basis at current prices after 6.5 months, which is at $22,600. This means that the average LTH is now just above its breakeven base. Indeed, the current trend indicates that the bottom could be in: Considering the time length of LTH-MVRV traded below 1 and the lowest printed value, the ongoing bear market has been very comparable with 2018-2019 so far. Glassnode also states that the volume of coins older than 6 months has increased by 301,000 BTC since the beginning of December, proving the strength of the HODLing conviction. Related Reading: Bitcoin Price Gearing For Another Lift-Off and Might Surge To $25K On the other hand, miners have used the recent price spike to boost their balance sheets. Miners have spent about 5,600 BTC more than they have received since January 8. In conclusion, the research firm says that it is not yet possible to make a final judgment on whether the next bull market is imminent or whether the bulls are heading into a trap: [H]igher prices and the lure of gains after a prolonged bear market tend to motivate supply to become liquid again. […] On the contrary, supply held by long-term holders continues to increase, which can be taken as a signal of strength and conviction […]. At press time, the Bitcoin price stood at $23.085, remaining relatively calm after the recent spike. Featured image from iStock, Charts from Glassnode and TradingView.com

Digital Currency, News

Whales Bag 500 Million Dogecoin – Will DOGE Hit $0.1 Mark?

Posted on January 24, 2023 By Eli Dambell

Meme coin forerunner, Dogecoin, opens the week with a new rally amid Robinhood’s support. Reports reveal that several whales jumped on the positive market sentiment to accumulate massive amounts of DOGE, triggering a 5% rally in the last day. According to WhaleAlert, Whales packed more than 500 million Dogecoin over the past two days. The tracker revealed that the largest holder of Dogecoin also partook in the accumulation and bagged almost 165 million DOGE coins. In addition, a top 20 whale also transferred 150 million Dogecoin tokens worth more than $13 million in the past 24 hours. Related Reading: Crypto Analyst Says Bitcoin Price Could See Another 30% Rally Robinhood Plans To Add Support For Dogecoin Robinhood Market is very influential both in the financial and crypto markets. The zone-free trading platform gave initial rollouts of its new wallet to 10,000 users in September 2022. The mobile wallet application would allow users to trade and send cryptocurrencies and NFTs. According to the announcement, the wallet would be available to over 1 million waiting users. But the wallets didn’t appear with initial support for DOGE, raising concerns among the meme coin community. However, the Robinhood platform assured the Dogecoin community that they are working hard to ensure the wallet app would support Dogecoin soon. Meanwhile, Robinhood’s main trading app already supports Dogecoin. In August 2021, the platform revealed that DOGE yielded up to 62% of the firm’s revenue in the year’s second quarter. As of then, Dogecoin gave Robinhood more revenue than Bitcoin and Ethereum.  Related Reading: Dogecoin Price Technicals Suggest DOGE Must Clear $0.920 For Another Rally One of the features in the wallet that would greatly benefit crypto users is zero network fees for cryptocurrency trading. That explains why the market sentiment became positive around the news of the firm’s Dogecoin support.  Data shows that Robinhood-linked wallet addresses hold the most significant DOGE tokens. For example, a Robinhood wallet named DPDLBA is the largest Dogecoin holder, with nearly 25.21% of the total supply. It has 34.76 billion Dogecoin worth $3.1 billion, while the second largest holder has 7.08 billion DOGE, about 5.14% of the total supply.  The top 100 and 500 largest BSC whales are also making a move. As per data from WhaleStats, DOGE emerged as the top 10 purchased tokens among the 100 BSC whales in the past day. In addition, the memecoin coin also appeared among the top 500 biggest BSC whales. DOGE Price Surges – Is There Any Hope For More Rallies? Amid the whale accumulation, the DOGE coin price rallied 3.4% in the past 24 hours. It now trades at $0.9001 with a low of $0.8604 and a high of $0.9289. The technical and social sentiment indicators suggest a slight upward movement to $0.095 over the next few days. But, given the current market conditions, a rise above $0.1 seems unattainable. However, the meme coin has seen some good days since January. It has been on the upward trend over the last weeks, with a 14-day price surge of 21.8%. Featured image by The Pigeon Express

Digital Currency, News

How This 25-Year-Old Traded $2 Billion In Crypto From His Parents’ Home

Posted on January 4, 2023 By Reynaldo Marquez

Per public filings with the Australian Securities and Investment Commission, a 25-year-old registered a million-dollar-worth trading company at his parents’ house. According to a report, the company successfully traded over $2 billion in Bitcoin and other cryptocurrencies. Related Reading: Solana Leads Crypto Market Gains, How Long Will This Continue? The trading desk is PO Street Capital, and its founder Darren Nguyen lives in an Australian suburb. The report claims that Nguyen and his company tried to keep a low profile and avoided attracting attention over the past two years. However, public records were discovered by journalists showcasing a $7 million profit in 2021 and a 1,400% profit when compared with 2020. The trading desk then scored a $460,000 profit as the crypto bear cycle ended. Crypto Trader Scores Record Profit In 2021 Bull Market In late 2020, Bitcoin revisited its previous all-time high at $20,000. In subsequent months, the cryptocurrency went on a massive bull run. By February 2021, the Bitcoin price was trading at $30,000 before moving upward and reaching a new all-time high north of $60,000. As the cryptocurrency doubled in price, the small Australian trading desk saw its profits swell. As BTC’s price traded to the upside, other cryptocurrencies saw similar or higher profits. The second crypto by market capitalization, Ethereum, rose from under $100 to an all-time high of $4,500. The report claims that PO Street Capital disclosed its performance with the Australian regulator in 2022. However, there is no record of its current profits or trading activity. With the Bitcoin and Ethereum price trending to the downside, an unfavorable macroeconomic condition, high inflation, and an overall downside trend in risk-on assets, PO Street Capital might have seen its profits dwindle. These conditions have led to the downfall of major companies in the nascent sector. From once-a-billion dollar hedge fund Three Arrows Capital (3AC) and the second largest crypto exchange in the world, FTX, prominent companies have had to halt operations or declare bankruptcy protection. Related Reading: Bitcoin Price Plays Catch-Up With Altcoins, Why $28,000 Is A Key Level As of this writing, Bitcoin trades at $16,900 with a 2% profit in the last 24 hours. Other cryptocurrencies in the crypto top 10 by market cap record similar profits and seem poised for further appreciation.

Digital Currency, News

Solana Leads Crypto Market Gains, How Long Will This Continue?

Posted on January 4, 2023 By Best Owie

Solana (SOL) has been ahead of the rest of the crypto market when it comes to gains. The market had seen renewed interest following the holidays which led to a small recovery here and there especially for the large players but Solana had been able to break completely from the trend and record double-digit gains in the last couple of days. What Is Driving Solana’s Growth? Despite being at the forefront of massive FUD that has dragged its price down toward two-year lows, Solana has now been able to recover a good amount of gains over the last few days. While the comments from Ethereum founder Vitalik Buterin in support of the blockchain had helped, there was another factor pushing the price higher. Related Reading: Santiment Paints Bullish Picture For XRP, But This May Not Be The Case A new meme coin known as BONK had graced the Solana ecosystem and after being airdropped to holders of major NFT projects, the price of the meme coin had soared. The resulting gains would see investors FOMO into the cryptocurrency and since they needed to trade on the Solana network, the price of SOL had surged given all of the new attention it was receiving. In two days, SOL ballooned to become one of the best performers in the space coming into the new year. It is up over 16% in the last 24 hours alone and the price of the digital asset has moved from the loss territory into the green over the last week. It is now sitting at almost 37% gains for investors over this time period, according to data from Coinmarketcap. Can SOL Hold The Gains? Right now, the growth of SOL in the market is still largely driven by the FOMO triggered by the BONK meme coin. Since the hype around this coin has been waxing strong, it is expected that interest will remain high among investors, thereby sustaining the growth trend recorded by Solana. Related Reading: Bitcoin Mining Difficulty Sees Sharp 3.59% Drop However, it is important to keep in mind that the BONK cryptocurrency is largely driven by hype, and just like any other meme coin, it is expected that this hype would die down at some point. Now, once this happens, the decline in interest would also significantly impact the price of SOL, dragging it down along with it. That is unless something else comes up to drive the price of SOL higher. It is also expected that some profit-taking would begin, where investors would begin to dump SOL to claim the gains already being seen. This, as well, will contribute to a wind-down, and a downward correction would follow. But this correction is not expected to claim more than 10% of current profits given that the price of SOL is now trading above its 20-day moving average of $12.3. SOL is changing hands at $13.72 at the time of this writing. It has overtaken Shiba Inu to become the 15th largest cryptocurrency with a market cap of $5.04 billion. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Analytics Insight, chart from TradingView.com

Digital Currency, News

Bitcoin Price Plays Catch-Up With Altcoins, Why $28,000 Is A Key Level

Posted on January 4, 2023 By Reynaldo Marquez

The Bitcoin price is finally seeing some profits, but it seems weak compared to other crypto assets. The macroeconomic environment is waking up, shaking things across all asset classes.  Related Reading: Ethereum Stakers In Massive Loss As 80% of Staked ETH Is In The Red As of this writing, the Bitcoin price trades at $16,800 with sideways movement in the last 24 hours. In the crypto top 10, BTC is lagging behind Ethereum, Binance Coin, and Cardano. These cryptocurrencies are positively reacting to the start of 2023.  Bitcoin Price Aims For Higher Levels Per a recent report from the trading desk QCP Capital, institutions are returning to action and allocating capital in Gold and other assets. The precious metal has seen a 15% rally in the past 60 days and keeps trending upwards.  The trading desk believes institutions are allocating into “alternative assets” or stores of value. The Bitcoin price is yet to benefit from this trend, but the crypto market is recording some profits. In particular, the non-fungible token space.  This sector is coming back to life after months of declining activity. Popular NFT collections experienced 2 to 3x profits in late 2022 and are likely to maintain the trend. QCP Capital noted Bitcoin and Ethereum’s price action:  (…) in line with Gold and NFTs, BTC and ETH are playing catch up to some extent at the start of the year. Despite the mini rally, BTC is still trading in an extremely tight falling wedge – with 18k the key breakout level to the topside. If the Bitcoin price can flip $18,000 and trend higher on the back of institutional allocation to alternative assets, the cryptocurrency could reclaim higher levels. The trading desk points to $28,000 as a critical level to watch.  This level is the neckline of the “Head and Shoulders” pattern formed by BTC in the past two years. In addition, $28,000 has confluence with the 61.8% Fibonacci Retracement level, meaning many players will keep an eye on it.  What Could Operate As An Obstacle For Bitcoin In the short term, the Bitcoin price is seeing resistance at its current levels. Analyst Caleb Franzen claims that BTC is likely to continue seeing resistance around these prices and higher.  Related Reading: Brace For Impact? Bitcoin Open Interest RSI Forms Bearish Divergence In 2022, the levels at $17,000 operated as critical support. Once lost, these levels turned into significant resistance, likely creating friction for the cryptocurrency. As the analyst pointed out, Bitcoin was already rejected from these levels in an attempt to rally beyond the $18,000 mark. Franzen said: Bitcoin is decisively within a potential resistance range. Even if price manages to break above this diagonal resistance channel, we can’t ignore overhead resistance from the former 2022 support range. We’ve already been rejected there once…

Digital Currency, News

Ethereum Stakers In Massive Loss As 80% of Staked ETH Is In The Red

Posted on January 4, 2023 By Samuel Edyme

The bear market has resulted in multiple losses for individuals and even large entities, and according to recent data shared by crypto analytics site, Dune analytics, the majority of all ETH stakers are in the loss while fewer stakers remain in the money. The reason behind the result of more losses than profit is due to the market conditions starting in 2021 after the Ethereum Beacon chain was launched, to the present. ETH had reached a new all-time high (ATH) but has also fallen by more than 50% from the ATH. Related Reading: Ethereum Price Key Trend is Forming and Swift Recovery Could Occur Weekly Staked ETH Fall To Lowest Levels as Only 20% Of ETH Staked Is In Money The January 4 published data further showed that 80% of ETH staked are currently recording losses. The stakers who happen to be part of the 20% still in money are those that staked ETH at prices lower than the current levels.  Per the data, a significant chunk of staked ETH was staked when ETH was still in the $600 price range — this dates back to December 2020 when the Beacon Chain was launched. Though ETH has since increased to a point where it’s now 50% higher than the 2020 price level, 80% of the currently staked ETH was staked at prices equal to or above $1,200. Following the massive losses recorded in staked ETH, the amount of weekly staked ETH has seen a sharp decline with fewer ETH staked since the last quarter of 2022. Over the past week, only a total of 25,000 ETH has been staked.  Prior to the extreme market conditions, figures of roughly 150,000 ETH were being staked per week. Should ETH continue into a downward movement, chances are there could be massive withdrawals from ETH staking contracts when a withdrawal mechanism is implemented later this year.  Considering The Long Term Perspective  Another narrative worth considering is the long-term perspective. Given the fact that most stakers already had an initial idea of keeping their ETH for the long term, they might as well turn a blind eye to the current price levels of Ethereum.  Besides, staking ETH directly or through an exchange would usually involve a committed two-year lockup period. For context, 15.9 million ETH is currently staked, representing 13.2% of the entire supply, according to Dune data reports.  Related Reading: Ethereum Price Relatively Muted, Bulls Still Aim Key Upside Break However, even with the dip that seems to be never-ending, there are still hopes for Ethereum and even other altcoins. As of the time of writing, ETH is up by over 3% in the last 24 hours with a trading volume of $5.2 billion over the same time period. Furthermore, a reversal is expected to happen, given the sharp upwards movements in what seems to be a false move. Featured image from istock, Dune analytics and TradingView

Digital Currency, News

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

Digital Currency, News

Cardano (ADA) Price Soars By 5% As Buying Pressure Mounts

Posted on January 4, 2023 By Jake Simmons

The Cardano (ADA) token marked a two-year low at $0.239 as recently as December 30 but has since experienced a sustained upswing that catapulted the price to $0.264 at press time. Within the last 24 hours, ADA is recording an increase in price of around 5%, with a trading volume of around $250 million. However, a look at the 1-day chart reveals that Cardano is far from out of the woods. The ADA price has been in a falling trend channel since mid-August 2022. Since early December alone, the ADA token has fallen 25%. While the 50-day simple moving average (SMA) is an initial target at $0.291, ADA needs another boost above $0.33 to break out of the bearish trend. Thus, today’s move could mark a budding momentum for the bulls. The MACD indicator was showing a bullish crossover a few days ago, suggesting buying pressure is building up. Related Reading: Cardano Enters 2023 With A Bang, But ADA Still Bearish In The Short Term Meanwhile, the Relative Strength Index (RSI) is currently at 46 and is now in neutral territory after spending much of the second half of December in oversold territory. Looking at the 4-hour chart, Cardano has seen a major rejection at the key resistance zone of $0.266-$0.271. For ADA investors, the mark could be the first major step to tackling the $0.28 level. After that, the most crucial resistance would be waiting in the $0.291-$0.30 zone. Only if Cardano manages a breakout, the attention could move to the higher time frame, setting up a final strike against the bearish trend. Cardano Whales And DeFi Activity Could Spur The Price Some upside to the ADA price may have been provided by the growth of the Cardano DeFi ecosystem. After hitting a low of $48.95 million on January 1, Total Value Locked (TVL) has risen again today to $52.53 million according to data from DeFiLlama. Related Reading: Cardano (ADA) Extremely Undervalued? On-Chain Data Suggests So Some of the leading decentralized financial protocols on the Cardano network have seen an uptick in activity. Within the top 7  decentralized applications (apps), all have seen at least a 3.5% increase over the last 24 hours in terms of TVL. With +21.5%, Lending Pond leads the growth over this period, but also over the last month (+50%). Another reason for the uptick in price could be larger ADA investors. WhaleStats data shows that large BSC holders also have a keen interest in buying Cardano (ADA). ADA purchases are within the top 10 of the 4,000 largest BSC whales in the last 24 hours. In addition, the largest BSC whales currently hold 19.9 million ADA, which is worth $5.19 million and represents 0.68% of the total supply. JUST IN: $ADA @CardanoStiftung now on top 10 purchased tokens among 4000 biggest #BSC whales in the last 24hrs 🐳 Peep the top 100 whales here: https://t.co/CnPsLVmRmh (and hodl $BBW to see data for the top 4000!)#ADA #whalestats #babywhale #BBW pic.twitter.com/3GdW9PeU5T — WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 4, 2023 Featured image from IOHK Blog, Charts from TradingView.com

Digital Currency, News

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

Digital Currency, News

Optimism Edges Other L2s In Gas Efficiency, Despite Loss In TVL, Revenue

Posted on January 4, 2023 By Christian Encila

Optimism (OP) has opened the year on an optimistic note as it enjoys a bull run. On the flip side, it has suffered sluggishness in terms of total value locked (TVL). Here’s a quick snapshot of Optimism:   OP price spikes by 5.76%   OP down in terms of TVL; now only $500 million   Users save as much as 99.4% on ETH Arbitrum is seen to have blazed past the other leading Layer 2 blockchains including Optimism and Polygon when it comes to TVL. Regardless, the former remains unfazed as it still accelerates in tempo and dominates the L2 space. 🔥 THE TVL BETWEEN TOP LAYER 2 ON ETHEREUM 🔥 By overcoming #Polygon and #Optimism, @arbitrum has naturally risen to the top 1 Layer 2 in TVL through 2022. Do you think @arbitrum will become the new home of DeFi. (💙,🧡)? Let’s comment below 👇#Arbitrum #DeFi pic.twitter.com/AAtP0g8e2V — Arbitrum Space (💙,🧡) (@Arbitrum_Space) January 1, 2023 Optimism On A Bull Run According to CoinMarketCap, OP price is up by 5.76% or trading at $1.02 as of press time. On the contrary, its TVL isn’t too impressive as it dwindled down $550 million to now only $511 million as seen in the past 30 days, which also negatively impacted revenue. Chart: DeFi Llama The term “Layer 2” is used to describe an additional framework or protocol that is implemented on top of an existing blockchain system. These methods are designed to address the problems of transaction throughput and scalability being experienced by the most prominent bitcoin networks. Crypto total market cap at $778 billion on the daily chart | Chart: TradingView.com Optimism has been swinging and switching back and forth to higher lows and bullish highs. Evidently, OP price has spiked by as much as 15% overnight and is now green with the price range at $1.02. In the event that the bulls can hold on to its optimistic price momentum, Optimism could shoot to as much as $1.45 in the coming days. Can OP Barrel Past Key Resistance? There is an increased positive price action seen with Optimism as it is predicted to rally to as much as $1.53 in the next couple of weeks, and barreling past the key resistance. OP is going through an obvious uptrend and could retest the key resistance zone at $1.45. Meanwhile, Optimism has the ace in terms of gas efficiency compared to its rivals. One of the perceived reasons behind the incrementing growth usage on Ethereum is that users can save more ETH whenever they use Optimism.  Chart: Dune Analytics Optimism was able to use less gas than other L2s, despite having a lower TVL and lower income, as reported by Dune Analytics. Even when compared to Arbitrum, the Layer 2 solution performed better. Customers’ aggregated savings from using Optimism for transactions also kept rising. As of this writing, the Ethereum scaling solution helped its customers save up to 98%. Related Reading: Avalanche: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem? Chart: Dune Analytics Related Reading: Ol’ Reliable Litecoin Up By 7% As LTC Flexes Muscles For 2023 OP’s network, on the other hand, is faltering in terms of growth which hints the plunge in transactions and new user addresses. More so, development activity has also declined which could get in the way of its chances to attract new users. On the brighter side, OP is spiking in terms of market capitalization as it is up by 6.74%. -Featured image: The Coin Republic

Digital Currency, News

Avalanche: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem? 

Posted on January 4, 2023 By Christian Encila

The 2022 crypto bear market left a deep mark on the Avalanche ecosystem. AVAX, the native token of Avalanche, dropped by a whopping 89.5%, leaving many investors scratching their heads. However, the token has seen some rebound. According to CoinMarketCap, AVAX is up 3.78% in the past 24 hours and trading at $11.53. This pump in price is due to certain bullish factors that will play a role in Avalanche’s 2023 recovery.  Related Reading: Ol’ Reliable Litecoin Up By 7% As LTC Flexes Muscles For 2023 Developments On-chain Increasing Although the past year has been very bearish in terms of the crypto market’s pricing, developments on-chain are going strong. On December 30, Avalanche pushed its Incentives Program to promote dApp development on the Avalanche ecosystem.  December also saw the integration of Coinbase’s USDC which will certainly bring more people into Avalanche and the crypto economy as a whole.  Avaxholic, a popular Twitter account dedicated to updates about the ecosystem, recently tweeted about the current state of developments on-chain. Re, a blockchain enabled reinsurer, launched on Avalanche.  Re aims at tokenizing the reinsurance market, making blockchain technology accessible to institutions that dabble in the reinsurance market. This puts Avalanche on the forefront of this connection with traditional finance. As of writing, the reinsurance market is projected to reach $1.3 trillion by 2031.  Image: The Daily Hodl Partnerships with HoldStation, a SocialFi wallet provider, and Odos Protocol, who launched a DEX aggregator on Avalanche, also played a big part on AVAX’s current trajectory.  Can AVAX Break Through This Level?  Surprisingly, AVAX is less correlated with Ethereum compared to Bitcoin. This can present a few challenges as the token is testing the $11.66 price resistance level.  The king crypto received a beating last year with BTC continuing its sideways price movement after FTX collapsed. This price movement can be broken as January is chock full of macroeconomic indicators that would directly influence the broader financial market, especially AVAX.  Related Reading: Internet Computer (ICP) Sheds 5% In Last 24 Hours As Bulls Lose Aggressiveness AVAX total market cap at $3.6 billion on the daily chart | Chart: TradingView.com With BTC being slightly correlated with the S&P 500 and the Dow Jones Index, a worsening macroeconomic trend will affect the king crypto, dragging AVAX along with it. This week will be crucial for AVAX as the Federal Open Market Meeting Minutes and the US Nonfarm Payrolls will be released.  These would give insight into what the US Federal Reserve’s next step would be regarding the inflation situation. If the Fed ever decides to raise interest rates once again, AVAX might lose its current footing.  As of writing, however, the token has already breached the $11.66 resistance level. Investors and traders should now target the $12.10 resistance. Bulls should still exercise caution as the market will inevitably react to macro trends. -Featured image Dara Rehab

Digital Currency, News

Internet Computer (ICP) Sheds 5% In Last 24 Hours As Bulls Lose Aggressiveness

Posted on January 4, 2023 By Christian Encila

With more than $1 billion in market cap, Internet Computer is part of the top 50 cryptocurrencies according to CoinGecko. Although the crypto market is certainly bullish on the token, the positive sentiment on the crypto has not reflected in the charts in the past days.  According to CoinGecko, the token is down by 5% in the daily timescale. However, the bi-weekly timescale shows a 12% gain.  Related Reading: Bitcoin Turns 14 As King Crypto Pushes Towards $17,000 Level Bullishness Up, But Why Is Internet Computer Down?  DFinity, the company that launched Internet Computer, recently integrated Bitcoin to add smart contracts to the top cryptocurrency.  According to the Santiment insight made by SanTrends, ICP is top 5 just behind Ethereum in development activity. InfinitySwap, the ICP blockchain’s automated market maker (AMM) and staking platform,  has also contributed to the rise in development activity as it also integrated Ethereum, ensuring low fees compared to the top altcoin.  Image: Crypto News Flash However, this strong bullishness in development was sideswiped by a strong drop in TVL, high-profile crashes in the crypto space, and economic headwinds produced the perfect storm for ICP to crash just a day before 2023 starts.  Chart: DefiLlama Security For ICP Is Up, But Not For Investors On-chain security of ICP has been boosted by its integration with BTC. With 2022 being very notorious with the amount of digital assets stolen, this security boost is highly appreciated by the community.  However, on-chain security does not guarantee returns for Internet Computer investors and traders. Historically, ICP follows both Ethereum and Bitcoin in price movement. If ETH and BTC will suffer from internal or external factors in the crypto industry, it would reflect on the price of altcoins like Internet Computer.  This year’s start for ETH and BTC has been shaky at best. With the BTC community celebrating Genesis Block day anxiously at $16,515 support, ICP has a long way to go in terms of bullish pricing.  However, with analysts showing metrics that might be a precedent of a bull run, ICP might have a short-term upward momentum above $4.096 price resistance with support at $3.840.  Related Reading: Solana Up 13% Since Yesterday, A Sign Of Brighter Things to Come? ICP total market cap at $1.1 billion on the daily chart | Chart: TradingView.com Bitcoin and Ethereum are trudging sideways as both the crypto market and traditional financial market await the Federal Open Market Committee (FOMC) Meeting Minutes which will provide possible signals of more interest rate hikes.  Not to mention the current FUD surrounding the entire Genesis-DCG debacle and the deteriorating situation of Grayscale’s situation as both its Bitcoin Trust fund and its Ethereum Trust fund depreciate rapidly.  Meanwhile, ICP investors and traders should hold off any major decision until the FOMC’s meeting concludes as this would indicate either a better or worsening economic situation. -Featured image: Yahoo Finance

Digital Currency, News

Litecoin Bullish Signal: Shark And Whale Addresses Hit 2-Year High

Posted on December 28, 2022 By Hououin Kyouma

On-chain data shows the combined Litecoin address count of sharks and whales is now at a 2-year high, a signal that could be bullish for the asset’s value. Litecoin Addresses Holding More Than 1,000 LTC Now At Highest Level Since 2020 As per data from the on-chain analytics firm Santiment, LTC has been climbing strongly since the population of these large addresses began to rise. The relevant indicator here is the “Litecoin Supply Distribution,” which tells us how many addresses (or holders) belong to each wallet group in the market currently. Addresses are put into these wallet groups based on the total number of coins that they are currently holding. For example, the 1-10 coins band includes all addresses that are holding between 1 and 10 LTC right now. The Supply Distribution metric for this band would then measure the total amount of such addresses that are there in the market currently. Related Reading: Analyst Explains Why Ethereum Is Bullish Against Bitcoin Now, the wallet groups of interest in the current discussion are those with at least 1,000 LTC. Since there is no upper bound here, all balances ranging from this amount to infinity are stacked together. Here is the Supply Distribution chart for these Litecoin address bands: Looks like the value of the metric has been sharply going up in recent days | Source: Santiment As the above graph displays, the value of the indicator for Litecoin addresses falling inside this range has been rising since May of this year. Holders that have 1,000 or more coins in their wallets are sharks and whales, so this uptrend implies that the total number of these large investors has been going up in the last few months. Just recently, the address count of these holders hit a value of 4,232, which is the highest value recorded in more than two years. From the chart, it’s also visible that while these sharks and whales have been increasing in number (and hence accumulation has been going on), the LTCBTC ratio has seen a rise of more than 130%. Related Reading: Why The Bitcoin Mining Hashrate May Not Be Out Of The Woods Just Yet Since this accumulation hasn’t seemed to have slowed down recently, it’s possible that it could sustain further appreciation in the price of Litecoin heading into 2023. LTC’s next halving, an event where its supply production would be cut in half, is also scheduled to take place in the August of next year and has historically had a bullish effect on the price as well. LTC Price At the time of writing, Litecoin’s price floats around $67, up 4% in the last week. The value of the crypto seems to have declined during the past day | Source: LTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net

Digital Currency, News

NEAR Struggles As Bulls Aim To Flip $1.45 Resistance Into Support

Posted on December 28, 2022 By Christian Encila

NEAR, the native crypto of Near Protocol, seems to continue mirroring the trajectory of Bitcoin, one of the main driving forces of the cryptocurrency industry. The largest crypto asset boasting a total market capitalization of $320.76 billion has so far failed to establish a strong upward momentum that will enable it to exit 2022 with a higher value. In fact, BTC, which is trading at $16,658, is in danger of ending the year with a meager gain of less than 2%. At the time of writing, the maiden crypto has only managed to go up by 1.2% during the last 30 days and is looking at a weekly decline of 1.5%. As Bitcoin continues with its struggles, lesser known altcoins such as NEAR will also have a hard time to trigger an upward movement of their prices. Related Reading: Chiliz (CHZ) Finds Cover At This Level For Some Temporary Relief Yearend Bang Denied As NEAR Drops 20% Much like many of its fellow digital coins, NEAR is now trapped in a position where it will be difficult to end the month of December on a high note. NEAR Protocol has the strongest positive correlations with Bitcoin, Cardano, and XRP. This suggests that these coins frequently trend in the same direction at the same time. According to latest data from Coingecko, at press time, NEAR is changing hands at $1.32 and has already lost 20% of its value in the last 14 days. As for its month-to-date (MTD) performance, the coin is currently one of the worst performers among the top 40 crypto assets, going down by 16.2% over the previous 30 days. Adding to the woes of the cryptocurrency is the findings of Investors Observer, which gave the altcoin a moderate volatility rank of 39, putting NEAR in the bottom 39% of all cryptocurrencies in the market. Bulls are also put in a tough spot as they now bear the responsibility of flipping the resistance region of $1.45 into support zone to trigger some sort of a bullish movement. Related Reading: Litecoin, ‘2nd Most Active Crypto,’ Rises After Analyst Called LTC Holders ‘Idiots’ NEAR total market cap at $1.10 billion on the daily chart | Chart: TradingView.com Near Protocol Project Affected By FUD It turns out, the crypto is not the only thing affected by the high levels of fear, uncertainty and doubt (FUD) that’s been plaguing the crypto market recently. Octopus Network, a project dedicated for launching and running of appchains (application-specific blockchains) built on the Near Protocol blockchain, has been forced to reduce its workforce by 40%. Citing the current challenging and bleak landscape of the market, the project has decided to remove 12 out of its 30 core team members in order to continue conducting its business. Moreover, Octopus’s remaining labor force has agreed to take a 20% salary cut and will also lose their token incentive privileges. Meanwhile, with only three technical analysis indicators showing positive signs and 24 showing bearish indications, the general mood regarding the NEAR Protocol price projection is pessimistic, according to data from December 28.

Digital Currency, News

Solana Price Prediction: Why SOL Could Dive Another 50%

Posted on December 28, 2022 By Aayush Jindal

Solana is accelerating lower below $12 and $10 levels against the US Dollar. SOL price remains at a risk of a move towards the $7.50 and $7.00 levels.

Sol price is struggling and trading well below the $12 level against the US Dollar.
The price is now…

Digital Currency, News

Ethereum Price Could Resume Decline If This Support Paves Way

Posted on December 28, 2022 By Aayush Jindal

Ethereum started a fresh decline from the $1,230 resistance against the US Dollar. ETH could accelerate lower if there is a clear move below the $1,180 support.

Ethereum is showing bearish signs and trading well below the $1,230 resistance zone.
The p…

Digital Currency, News

Litecoin, ‘2nd Most Active Crypto,’ Rises After Analyst Called LTC Holders ‘Idiots’

Posted on December 28, 2022 By Christian Encila

Litecoin, an altcoin being hailed as the “digital silver” of the cryptocurrency space, has once again rewarded its faithful investors and holders as it mounted a massive recovery after bottoming out at $60. Interestingly, the token made its bounce back shortly after CNBC host Jim Cramer went out of his way to call holders of LTC idiots. Cramer, who has already earned a reputation for his inaccurate crypto price predictions, has already been thanked by the Litecoin community for his antagonistic remarks that ironically triggered the digital coin’s price increase. “I would not touch crypto in a million years, because I wouldn’t trust the deposit bank,” Jim Cramer says while discussing the fallout of the collapse of FTX. https://t.co/0VbM5tYThE pic.twitter.com/9kqVMvbSOw — CNBC (@CNBC) December 23, 2022 Some analysts believe that the host’s comments might have been fuelled by the fact that LTC was forecasted to be in a continued downward trend after abandoning its local high of $81.5 and tumbling all the way down to $69. Related Reading: Chiliz (CHZ) Finds Cover At This Level For Some Temporary Relief Chart: TradingView Litecoin Reverses Its Bearish Trajectory The 16th largest cryptocurrency with a total market capitalization of $4.93 billion once again showcased its resiliency as it got back some of its losses over the last few days. In fact, according to tracking from Coingecko, at the time of writing, Litecoin was changing hands at $68.69 and is enjoying an increase in value of 5% over the last week. It is still several dollars away from its local high, but LTC is proving to be one of the best performers in the space that is being plagued by continued market uncertainty. Related Reading: Why USDT Is Plunging While Other Stablecoins Are Not LTC total market cap at $4.92 billion on the daily chart | Chart: TradingView.com The crypto, however, needs to do an even better job of moving up if it hopes to get back on the “green zone” as far as its month-to-date performance is concerned. LTC Rides Momentum Of Some Positive News Litecoin is ranked as the second most active cryptocurrency today⚡ Source: Messari Chain Activity Native assets ranked by the estimated on-chain transaction volume in the last 24hrs. #Litecoin is consistently in the top 5 most active blockchains. pic.twitter.com/yrfrnr7GCZ — Litecoin (@litecoin) December 27, 2022 Although it ended up being caught in a bearish movement just recently, Litecoin seems to benefit from some developments that involve the crypto asset. For one, at press time, over the last 24 hours, the altcoin ranked second in the list of most active cryptocurrencies as reflected from the data shared by the Messari Chain Activity native assets ranking. LTC consistently makes it to the top five in this listing. In addition, during the previous week, the number of active addresses holding the crypto remained consistent and its trading volume also registered an uptick. These factors indicate that the digital silver has managed to gain some ground and is priming itself for another strong showing before the year ends. In fact, Coincodex’s 5-day and 30-day forecasts for the digital token are both bullish, indicating that it will trade at $73.74 and $93, respectively. 

Digital Currency, News

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 …

Digital Currency, News

Exploiter Of “Highly Profitable Trading Strategy” Arrested In Puerto Rico

Posted on December 28, 2022 By Taylor Scott

A few months can feel like a lifetime in crypto. However, it probably hasn’t felt like long enough for Mango Markets exploiter Avraham Eisenberg, who was taken into custody in Puerto Rico this week. Eisenberg gained notoriety on crypto Twitter after describing his nine-figure exploit of the Solana-based protocol as “a highly profitable trading strategy.” On Twitter and across other outlets, Eisenberg was insistent that his exploit was simply taking advantage of the protocol’s code, and that his actions weren’t illegal or even immoral. However, U.S. federal prosectors seem to disagree. An Exploiter’s Endeavor In October, Eisenberg exploited Solana-based Mango Markets and made headlines not just for the exploit – which was essentially a ‘looping’ exploit, manipulating the price of the MNGO token – but also for the outlandishly-sized ‘bug bounty’ that Eisenberg managed to walk away with. B ug bounties are commonplace for exploiters – often ‘white hat’ exploiters who look to take advantage of code for the ‘better of society’ – but never have amounted to a payout this large. While Eisenberg attempted to include language in a Mango protocol proposal that could shield him from “criminal investigations,” that didn’t slow the U.S. DoJ and FBI from looking into his activity. At the time of our October publishing on the matter, it was unclear if Mango would be able to make a recovery; little did we know how much damage the Solana ecosystem would face in the 60 days following that event. Since the exploiter’s endeavor, Solana’s defi landscape has crumbled, FTX fallout has impacted the chain drastically, and it’s once flagship NFT community is facing intense pressure with the departure of signature projects DeGods and y00ts. Mango Markets (MNGO) was taken advantage of by an exploiter who has been arrested this week. | Source: MNGO-USD on TradingView.com Related Reading: Dogecoin Among Most Searched Cryptos Of The Year, Will It Keep Its Spot In 2023? Mango Madness, Continued Court documents have been unveiled this week, shedding light on Eisenberg’s arrest in Puerto Rico. An initial filing, dated December 23, 2022 and released this week, federal prosecutors outline two separate charges surrounding Eisenberg’s “scheme involving the intentional and artificial manipulation of the price of perpetual futures contracts” on Mango. The 14-page filing details how Eisenberg manipulated MNGO perps, detailing his movement between wallets. The filing closes by mentioning that Eisenberg attempted to flee law enforcement by swiftly departing the U.S. to Israel, and highlights the belief that Eisenberg was well aware of the illegality of his actions, based on Twitter activity. The document is rounded out by a request from the FBI agent to issue a warrant for Eisenberg’s arrest. A second filing, dated December 27, confirms his arrest in Puerto Rico. Crypto Twitter rejoiced with memes surrounding Eisenberg’s arrest. Related Reading: Cardano Price Consolidates, When Should You Short Again?

Digital Currency, News

Cardano Price Consolidates, When Should You Short Again?

Posted on December 28, 2022 By anushsamal

The Cardano price had increased over the weekend, but the coin showed lateral price movement at press time. Over the last 24 hours, ADA has dipped about 0.2%. The ADA has gained 4% in the last week, indicating a positive trend. According to the technical outlook, the Cardano price has not yet reversed its price action. The downtrend continues despite the coin securing minor gains over the last few days. The buying strength remained low, which depicted lower accumulation as well. Cardano bounced back from oversold territory, but the selling momentum was still strong. With the Bitcoin price falling and fluctuating between $16,900 and $16,600, altcoins have also seen choppy and undecided price movements. Following major market movers, ADA traded between $0.26 and $0.27, with the altcoin falling below the $0.25 price mark in the last 24 hours. The market has presented signs where buyers can make an entry to make some gains over the shorter trading timeframe. The trading volume of Cardano was low, indicating a lack of buyers. ADA is trading 91% below its all-time high secured in the last year. Related Reading: Terra Classic (LUNC) Beats The Odds With 16% Rally, More Gains Ahead Cardano Price Analysis: One-Day Chart ADA was trading at $0.25 at the time of writing. Because of the recent depreciation, ADA has lost its $0.26 support line. If buyers push harder, Cardano can be expected to trade above the $0.26 level again. The major mark of resistance for ADA stood at $0.28. As per the technical indicators, Cardano price might lose the $0.25 level before it starts to make upward strides again. That would mark an entry point for buyers and an appropriate shorting opportunity for traders. If the Cardano price fell below the $0.25 mark, the first support stood at $0.24 and then at $0.22. The amount of Cardano traded in the last session declined, signifying bearish price action. Technical Analysis Despite Cardano recovering from the undervalued zone, it still hovered close to the selling dominance zone. The Relative Strength Index was below the 40-mark with a downtick, which could lead to another fall in price before the altcoin makes a comeback. The Cardano price was below the 20-Simple Moving Average (SMA) line, which meant sellers continued to drive the price momentum in the market. Traders shorting will make gains over the next trading sessions as ADA prepares to topple past the 20-SMA line. Bearish conditions prevailed for Cardano, as the other indicators also pointed in the same direction. The Directional Movement Index (DMI), which demonstrates the price direction and strength, was negative. The -DI line (orange) was above the -DI line (blue), indicating that sellers had more strength in the market. The Average Directional Index (red) was at 40, depicting increased strength in the current price direction. This reiterated that the bears were strong, which would mean another fall for ADA, which could benefit sellers. The Moving Average Convergence Divergence portrays the price momentum. The indicator just painted one small green signal bar, indicating that buyers could find an entry point now to log gains over the immediate trading session. Related Reading: Bitcoin Miner Selling Power Plunges, Green Signal For Price? Featured Image From UnSplash, Charts From TradingView.com

Digital Currency, News

Dogecoin Among Most Searched Cryptos Of The Year, Will It Keep Its Spot In 2023?

Posted on December 28, 2022 By Reynaldo Marquez

The price of Dogecoin (DOGE) follows the general trend in the crypto market and only records sideways activity. Due to the holiday season, the trading volume across global markets decreased, leading to stagnation in the nascent sector.  Related Reading: Chiliz (CHZ) Finds Cover At This Level For Some Temporary Relief As of this writing, Dogecoin trades at $0.074 with a 1% loss in the last 24 hours. In the previous seven days, DOGE has seen some small profits with a 5% gain. Other cryptocurrencies in the top ten by market cap are similarly performing.  Dogecoin Shares Spot With Bitcoin And Shiba Inu As Most Popular Cryptocurrencies Per a report from DollarGeek, cryptocurrencies remain some of the most searched digital financial assets of 2022. According to data from Google, cryptocurrencies total over 7 million monthly searches in the United States and over 40 million global searches.  Despite the persistent downside trend in its prices and unfavorable macroeconomic conditions, the digital asset class remained popular. The report claims. Bitcoin preserved its spot as the most popular cryptocurrency.  Over the past two years, several new sectors emerged from the crypto industry. However, people are still attracted to Bitcoin due to its decentralized nature. 2022 has been a year of declining trust in a central authority.  In this environment, people take more interest in alternatives, such as Bitcoin and other cryptocurrencies. The benchmark crypto recorded about 4,500,000 monthly searches in the U.S. and 28,400,000 global searches.  Further down the line of popular cryptocurrencies, Dogecoin and Shiba Inu took the number two and three positions. The meme coins continued to take over market share from other significant projects.  In the last months of 2022, Dogecoin and Shiba Inu claimed the previous positions in the crypto top 10 by market cap and often competed. In terms of Google searches, SHIBA and DOGE showed mixed results. According to the report, the meme coin recorded around 1,290,000 monthly searches in the U.S., but in terms of global monthly searches, Dogecoin took the crown. This cryptocurrency recorded around 6,000,000 monthly searches compared to the 4,400,000 million from SHIBA.  DOGE To See Further Growth In Popularity Per the report, the dominant trends in the crypto industry can be divided into meme coins, represented by Dogecoin and Shiba Inu, non-fungible tokens (NFTs), and innovative contract platforms, represented by Ethereum and Avalanche.  Finally, people took an interest in old cryptocurrencies revamping their ecosystem with new features, represented by Cardano and Litecoin. As seen in the chart below, Ethereum was the most popular in the group after DOGE and SHIB. Related Reading: Bitcoin Miner Selling Power Plunges, Green Signal For Price? In this group, Dogecoin has a high chance of preserving its place on this ranking in 2023. The meme coin might see more utility if Elon Musk, owner of Twitter, integrates it with this platform. 

Digital Currency, News

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

Digital Currency, News

FirstByte Media’s Cosmin Mesenschi on How CryptoGamble.tips Helps the Crypto Community

Posted on December 11, 2022 By News BTC

Cosmin Mesenschi is the Founder and CEO of FirstByte Media. A brand creator with a wealth of knowledge in the crypto gambling industry. His past experiences in the sector have shaped his way of thinking about the market, leading him to find a niche whe…

Digital Currency, News

Survey Reveals Turkey is Highly Obsessed With Crypto, Especially Dogecoin

Posted on December 10, 2022 By Ana N.

The entire crypto industry has been experiencing a winter since the last quarter of 2021. Some cryptocurrency prices experienced a massive price slump, with many declining over 65%. However bad things may look, crypto may not go extinct as its popularity has not reduced. A recent study by CryptoManiaks, a crypto education platform, shows that Turkey and the Netherlands ranked top in cryptocurrency awareness. As per the survey, 5.5% and 8.2% of the population in Turkey and the Netherlands searched for crypto-related terms. Turkey accounted for 4.7 million searches, topping the chart with large numbers. Related Reading: Ethereum Price Bulls Hold Strong, Indicators Suggest Fresh Rally To $1,400 Turkey has made tremendous improvements in crypto adoption since the beginning of 2022. A 2022 research by the Turkish crypto exchange Paribu estimated that at least 8 million people in Turkey engaged in crypto. Turkish President Recep Tayyip Erdogan spoke about the benefits of blockchain innovations. In his statement, Erdogan added that Turkey wants to be a producer of digital assets, not a consumer. DOGE Outranks Ether In Terms Of User-Curiosity In Turkey The latest CryptoManiaks study analyzed the number of searches for some selected cryptocurrencies. They represented the number of cryptocurrencies as a percentage of the population for each country to calculate the monthly local searches. Turkey ranked second in the overall study and first with 812,000 monthly searches related to Dogecoin. According to the survey, the number of searches for Dogecoin doubled that of Ethereum, the third most searched crypto in the country. CryptoManiaks’ spokesperson commented on the rising Dogecoin curiosity over the last 12 months. He said Dogecoin’s popularity has significantly exceeded Ethereum’s, with almost 2 million monthly searches worldwide. DOGE became popular after Elon musk revealed plans to make it the official token for Twitter monetization. As a result, the memecoin’s price soared to an all-time high within the week of the complete official acquisition of the social media platform by Elon Musk. The survey didn’t feature only DOGE and Ethereum. It also featured Solana, BNB, Bitcoin, and others. After Turkey and the Netherlands, Canada, Germany, and the Czech Republic followed in ranking. Bear Market Didn’t Cripple People’s Interest In Crypto Although the United Kingdom and the United States are top global players in the cryptocurrency industry, none ranked in the top. That is because the number of searches is insignificant compared to their population sizes. For example, the United States ranked 15th, with 1.9% of its population searching for crypto-related terms, whereas the United Kingdom took the 12th spot with 2.6%. Related Reading: Ethereum: On-Chain And Social Metrics Reveal Bulls Vs. Bears Battle – Who’s Winning? Recent research by Cointelegraph also showed that the bear market did not affect the interests of several institutions in the Crypto industry. According to the report, top institutions are still interested in the cryptocurrency industry and continue to invest millions in crypto-related projects. Featured image from Pixabay, chart from TradingView.com

Digital Currency, News

Whales Move Over 275 Million XRP Amid Price Surge

Posted on December 10, 2022 By Ana N.

Amid the crypto winter and the Ripple lawsuit saga, XRP is breaking records with over a 4% price surge in 30 days. Unfortunately, the past 30 days have been terrible in the market after the FTX collapse, which broke down cryptocurrency values. However, the low price period proved very beneficial to some fat wallet holders who seized the opportunity to accumulate more assets. Ripple’s native token, XRP, recorded more recovery than Bitcoin amid whale accumulations in the past 24 hours. Related Reading: Ethereum: On-Chain And Social Metrics Reveal Bulls Vs. Bears Battle – Who’s Winning? WhaleAlert reported that crypto whales moved over 275 million XRP tokens, worth more than $107 million, throughout the past 24 hours. The data also revealed that whales purchased over 113 million XRP, about $44 million, in the past 24 hours. Is XRP Showing Signs Of Dominance Over Bitcoin? Most of the transactions came from the Bitso crypto exchange, with the highest record being XRP tokens worth over $15.3 million. These movements saw a price surge in the XRP token, bringing over a 4% increase. However, Bitcoin trades at the $17,153 level, with a 3% dump in the last 30 days. Around the same time, Ripple’s general counsel, Stuart Alderoty, announced the filing of their final briefing in the XRP lawsuit. The two-year-long legal tussle between the SEC and Ripple is approaching the summary judgment stage. The crypto industry anticipates the outcome of the court’s ruling as it would affect the future of XRP and the broader digital assets. If the SEC wins the case, XRP will be seen as a security, and other similar tokens may follow suit. Ripples believe the long-standing battle with the Securities and Exchanges Commission is a fight for the crypto industry. However, Stuart Alderoty affirms that the Securities and Exchanges Commission holds no proof to satisfy its claims that XRP is a security. The attorney believes the defendants have an advantage over the commission in the case. Whales’ Continuous Transfer Of XRP: Hold Or Sell signal? Meanwhile, as the firm faces the watchdog in their lawsuit, whales continue accumulating more tokens. To book more profit as the token price surged, whales transferred over 162 million XRP, worth about $63.1 million, in the past 24 hours. On-chain data revealed that most tokens went to the Bitstamp crypto exchange. The report shows that whales moved another 160 million of the token on Thursday as the Ripple/SEC lawsuit approaches the final round. In addition, more than 4 billion XRP tokens also went from Bittrex to an unknown wallet. Data revealed that the tokens are worth about $1.5 billion in total. Related Reading: Ethereum Price Bulls Hold Strong, Indicators Suggest Fresh Rally To $1,400 As large numbers of these tokens moved among exchanges and whale accounts, the token has continued to bag profits. As a result, the token now trades at $0.3872 with a live market capitalization of $19,477,214,657. Featured image from Pixabay, chart from TradingView.com

Digital Currency, News

Ethereum Price To Remain Sluggish Before It Attempts A Rally

Posted on December 10, 2022 By anushsamal

The Ethereum price has moved in the same direction as the broader market. In the last 24 hours, Ethereum has moved up by 2.5%. On the weekly timeframe, the altcoin has rarely registered any movement. This reflects lateral trading for ETH. In the short term, the altcoin might be registering gains, but as the technicals indicate, the coin can depreciate again before it rallies. Accumulation has been considerably low on the chart. Buying activity must significantly increase if ETH is to break above the $1,300 price mark. Even though ETH remained comfortably above the $1,220 price, buying strength has been weak on the daily chart. Ethereum has to keep trading above the $1,240 and $1,250 price levels for the coin to take a shot at $1,300. The bulls will lose all strength if the Ethereum price moves below the $1,240 mark and closes near $1,230. This price pullback can then further fuel a rally to $1,300. Related Reading: Ethereum: On-Chain And Social Metrics Reveal Bulls Vs. Bears Battle – Who’s Winning? Ethereum Price Analysis: One-Day Chart ETH was trading at $1,275 at the time of writing. The coin is presently consolidating after flipping the $1,240 level as support. Immediate resistance for Ethereum stood at $1,290; the coin is expected to encounter a setback at that level. However, ETH must stay above $1,250 to avoid a significant loss of value. The bulls must keep defending the $1,250 level regarding the closest support line. The amount of Ethereum traded in the last session declined slightly, indicating a fall in the number of buyers in the market. Technical Analysis Corresponding to the earlier statement about low buyers, the technical outlook also painted the same picture. Although above the half-line, the Relative Strength Index remained weak as it displayed a downtick on the daily chart. This reading is associated with a fall in demand and accumulation. On the contrary, the Ethereum price was above the 20-Simple Moving Average. The indicator depicted that ETH was in the hands of the buyers, as the buyers were driving the price momentum in the market. With buyers still under some control of the price, the Moving Average Convergence Divergence (MACD) reflected the same sentiment. MACD indicates price movements and trend reversals; the indicator displays small green signal bars tied to the buy signal for ETH. However, it is to be remembered that the signals were declining in height, indicating a fall in demand. Bollinger Bands demonstrate the chance of price fluctuation and volatility in the market. Because the bands remained parallel, Ethereum is expected to trade within a range in the coming trading sessions. Related Reading: Ethereum Price Bulls Hold Strong, Indicators Suggest Fresh Rally To $1,400 Featured image from Unsplash, Chart: TradingView.com 

Digital Currency, News

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

Luna Classic (LUNC) Price Under Bearish Pull Despite New Developments

Posted on December 9, 2022 By anushsamal

The LUNA Classic (LUNC) price has noted a fresh decline in the last 24 hours. In that time frame, the altcoin depreciated by 1%. In the past week, LUNC logged gains worth 2.5%. Much of the weekly gains have been lost due to losses on the daily chart. At the moment, LUNC depicts consolidation beneath its immediate resistance mark. With the FTX collapse, LUNC has been teetering under a bearish influence for quite some time. Over the last month, the coin has lost more than 10% of its market value. On the development front, there is a new update. This is the introduction of the new Alpha package for TerraDart. TerraDart is a Dart SDK that is used for writing applications that would be interacting with the Terra blockchain, which has launched a new package called Alpha. The Alpha package has been available to communicate with the LUNC blockchain within Flutter and Dart environments. Related Reading: Yearn Finance: What The Final Quarter Of 2022 Has In Store For YFI Price Luna Classic (LUNC) Price Analysis: One-Day Chart LUNC was exchanging hands at $0.000162 at press time. The altcoin just fell from $0.000170 due to intra-day losses. Even with developments in the ecosystem, the LUNC price remains largely unaltered. The rigid price ceiling was at $0.000175, but demand for the coin was too low for bulls to take charge. Once the altcoin topples above the $0.000175 mark, it will be an easy path to the psychological level of $0.00019. On the flip side, with lesser accumulation, LUNC would eye its closest support line of $0.000148. Falling through the $0.000148 mark will bring LUNC to $0.00012. The amount of LUNC traded in the last session was low, indicating bearish strength. Technical Analysis In the past month, the coin displayed a bullish divergence, after which LUNC noted a slight increase in price. Despite that, the bulls could not build on their strength. The Relative Strength Index was near the 40-mark, which meant that the coin was moving toward the oversold zone. Similarly, the LUNC price was below the 20-Simple Moving Average line, which denoted a lack of demand. The reading also indicates that sellers were driving the price momentum in the market. In regards to buying strength, capital inflows have also declined due to a lack of investor interest. The Chaikin Money Flow depicts capital inflows and outflows at a given point. The indicator was below the half-line which meant low capital inflows. Related Reading: Ethereum: On-Chain And Social Metrics Reveal Bulls Vs. Bears Battle – Who’s Winning? The Directional Movement Index indicates the general price direction and trend of the asset. DMI was negative as the -DI (orange) line was above the +DI (blue) line. The Average Directional Index (red) was below the 25 mark, indicating a loss of strength in the current price action. Presently, LUNC is trading at 100% lower than its all-time high secured approximately eight months ago. Featured image from Wccftech, Chart: TradingView.com 

Digital Currency, News

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

Digital Currency, News

Ethereum: On-Chain And Social Metrics Reveal Bulls Vs. Bears Battle – Who’s Winning?

Posted on December 9, 2022 By Jake Simmons

Ethereum (ETH) has failed to rise above key resistance at $1,300 despite rising around 4% over the past 24 hours. At press time, the second largest cryptocurrency by market cap was trading at $1,289. As the trading volume shows, the bulls and bears have woken up again. In the last 24 hours, the trading volume was $6.4 billion, which is about 31% higher than the previous day. Ethereum On-Chain And Social Metrics Show Uncertainty Analysis company Santiment has conducted an analysis of bullish and bearish signs in on-chain and social data for Ethereum and the result is mixed. A bullish argument is made by Ethereum’s shark and whale addresses. As Santiment writes, just as with Bitcoin, the ETH millionaire addresses gave up much of their supply while conditions looked poor. Related Reading: How Litecoin (LTC) Outperforms Other Top Cryptocurrencies In This Department However, this circumstance has fundamentally changed recently. A month ago, large ETH addresses started accumulating Ethereum again. Since November 7, Ethereum addresses holding 100 million to 1 million coins have accumulated 1.36% of the total supply and 2.09% more ETH overall (than before). Social volume, on the other hand, looks bearish. As with the majority of all cryptocurrencies, the number of discussions on Ethereum is decreasing, but this seems normal for a bear market. As Santiment notes, this is not necessarily a bad thing when the weak hands leave the market. What is negative, however, is that “there is so little talk about Ethereum compared to other top assets.” Related Reading: Upcoming FOMC Meeting Is The Most Important Ever For Bitcoin – Watch Out For The Dot Plot At the same time, this could also turn into a bullish argument if bullish whales can drive the price higher with little resistance, thus significantly affecting the general market sentiment. Currently bearish is also the MVRV (average trading return of addresses). The average return among long-term (365-day) addresses still indicates a “lot of pain.” However, based on an emerging long-term uptrend in the MVRV, the metric could also be moving into bullish territory. Extremely bullish is the remaining supply of Ethereum on exchanges. This is at a 4-year low of 12.1% of total supply. Thus, the metric clearly points to a nascent bottom that is forming. Sides Are Still Polarized In contrast, funding rates (perpetual contracts) are neutral. Neither the bulls nor bears can prevail on this metric at the moment. ETH funding rates have been too flat to swing in either direction since the FTX implosion. In terms of realized gains/losses, the bears are clearly winning at the moment, according to Santiment’s analysis. Given the recent surge in the Ethereum price, there is currently a lot of short-term profit-taking. Ultimately, Santiment summarizes: Overall, Ethereum’s on-chain and social metrics are about as mixed as the crowd’s perspective is. […]Long-term? […] Ethereum is very likely closer to its upcoming 3-year low vs. its 3-year high. But are we at maximal pain? Probably not yet.

Digital Currency, News

Yearn Finance: What The Final Quarter Of 2022 Has In Store For YFI Price

Posted on December 9, 2022 By Christian Encila

Yearn Finance (YFI) has performed relatively well over the last 30 days, painting its charts in green despite the lingering uncertainty in the crypto market. According to information from Coingecko, at press time, the ERC20 governance token built on the Ethereum blockchain is changing hands at $7,087, going up by 5.7% during the past week and tallying an impressive 15.7% jump on its bi-weekly gauge. Here’s a quick glance of YFI performance: YFI is experiencing a significant decline in its daily trading volume Yearn Finance could fall all the way down to $6K within the next few days The altcoin could start 2023 with a bullish run to reclaim the $8K territory However, the altcoin’s technical indicators, specifically its Relative Strength Index (RSI) and Chaikin Money Flow (CMF), on its 4-hour chart doesn’t give much for traders to desire as they indicate a potential bearish run for the asset. The RSI settled below the 50-neutral zone at 48.97, suggesting that selling pressure increased and a lot of buyers veered away from the asset. Meanwhile, Yearn Finance’s CMF fell into a negative value of -0.07 – an indication of a weakened buying activity. Related Reading: How Litecoin (LTC) Outperforms Other Top Cryptocurrencies In This Department Source: TradingView Daily Active Addresses Count And Trading Volume Decline Along with the above-mentioned technical indicators, some developments concerning the cryptocurrency and its network pointed towards a bearish momentum. During the previous week, the number of unique addresses that traded Yearn Finance decreased sharply, going down by 41%. In fact, at the time of this writing, there were only 248 wallets monitored to have participated in YFI transactions. While the cryptocurrency’s spot trading price went up by 3% over the last 24 hours, its trading volume took a hit as it became lower by 25% during the same period. With these, there is a need for a significant uptick in demand for the crypto asset for another increase in value to be triggered as buyers in YFI market appear to be exhausted. However, it would seem that the digital currency could not catch a break as even in that particular department, it is showing signs of struggle. According to latest data, at the moment, only 59 new addresses were present at the network – 48% lower than what was observed within the last eight days. Chart: Santiment Coincodex Forecasts YFI At Over $8K By 2023 Although Yearn Finance’s short-term trajectory looks bleak, it is expected to have a strong start for the year 2023. According to the predictions of online crypto data information aggregator Coincodex, the digital asset is expected to decline significantly within the next five days and will eventually change hands at $$6,094 by December 15. Related Reading: Solana Price Falls Below $14 – Does This Signal A Gloomy Week For SOL? Chart: Coincodex However, the altcoin is expected to bounce back and reclaim its losses just few days after the expected price dump. By January 9, 2023, YFI is seen to trade at $8,891. YFI total market cap at $258 million on the daily chart | Featured image – Altcoin Buzz, Chart: TradingView.com 

Digital Currency, News

Latest Ethereum Short Price Rally – Courtesy Of Whale Activities?

Posted on December 9, 2022 By Sarah

Ethereum has been showing bullish momentum in the last seven days. ETH has gained momentum in the past 24 hours, while other coins are still declining. This rally supports some theories that the asset will rise above the resistance level in the coming days. Weeks after a massive fallout, the second largest cryptocurrency is heading towards a comeback. The FTX crisis, with other macro factors, affected the entire crypto market, with many assets crashing flat. Although there are many uncertainties in the crypto market, hope seems to be returning to the Ethereum community. Related Reading: MATIC Price Battles Under $1 Despite Bullish Signals Vitalik Buterin, the Ethereum co-founder, made a statement urging people to focus on the technology instead of the current prices. The co-founder was confident that Ethereum-based applications for monetary transactions would scale up the blockchain in the long run. Ethereum Whales Are Buying The Dip In Buterin’s notes, he expressed a bullish stance that the decentralized stablecoins and the other applications built on Ethereum could have long-term benefits. Meanwhile, bullish Ethereum holders are taking advantage of the dip to accumulate more Ether positions. According to data from Santiment, Ethereum whales are taking advantage of the low prices to buy more ETH. The blockchain analytical firm tweeted that the shark and whale address, with 100 to 1 million ETH, added 2.1% more coins to their wallets. It could be a sign of bullish sentiment for a price rally in the weeks to come. Ethereum is currently trading at $1,280. Two months ago, before Ethereum transitioned to proof of stake, many investors were bullish about the price increase the upgrade could bring. However, two months after the merger, their hopes got dashed as the asset price continuously dropped. Although the upgrade sought to improve the blockchain’s infrastructure, the co-founder said it could take months to reflect on the ETH price. Bitcoin Stays Down While XRP Surges Amid Whale Accumulations While Ethereum seems to exhibit some bullish trend, Bitcoin is declining with a 24-hour price drop of $0.02%. Other coins are not doing any better, including FTX, except XRP. The report shows that the XRP price increased in the last 24 hours after whale accounts moved over 160 million tokens. According to a report, whales accumulated more than $19 million of XRP tokens from the Bitso crypto exchange. In addition, the report revealed that the tracker recorded another whale addition of 40 million XRP,  approximately $15.3 million. Related Reading: Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC The tracker also reported that an account with the name, Ripple, moved more than 50 million XRP of about $19.2 million to an anonymous wallet. These accumulations saw XRP’s price gain a 2% increase in the last 24 hours and are currently trading at $0.3918. The news comes as the XRP lawsuit tends towards a summary judgment. Featured image from Pixabay, chart from TradingView.com

Digital Currency, News

Sam Bankman-Fried Addresses $8 Billion Balance Sheet Deficit, The Key Takeaway

Posted on December 3, 2022 By Sarah

The entire crypto market bled with multiple losses and asset devaluation after the collapse of Sam Bankman-Fried’s crypto exchange FTX. In addition, crypto firms exposed to FTX got a fair share of the bitter pill. Investigations have been ongoing to determine the location of the $8 billion hole in FTX’s balance sheet, which caused the liquidity crunch. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance The deficit in FTX’s balance sheet kept growing. The firm initially declared only $2 billion and later said it was $5 billion. The hole has now grown to over $8 billion. In a recent Bloomberg interview, Sam Bankman-Fried (SBF), FTX former CEO, revealed the whereabouts of the funds. SBF said he showed investors a separate balance sheet at an emergency bailout. According to the report, SBF listed $8.9 billion in debt, $9 billion in liquid assets, and $15.4 billion in less liquid assets. The report also mentioned $3.2 billion in illiquid assets. Sam Bankman-Fried Reveals Conflicting Balance Sheets He revealed another balance sheet showing the actual situation at the time of the bailout meeting. The balance sheet bears similar numbers but $8 billion less liquid assets. SBF said he misquoted the numbers. He added that customers were transferring money to Alameda Research instead of sending it directly to FTX. According to his statement, FTX’s internal audit system double-counted the amount and credited it to both firms. Following SBF’s statement, FTX and Alameda Research had the highest cash flow, but Binance, a rival, became the highest expense. He paid a net amount of $2.5 billion to buy out Binance’s investments. SBF also revealed that he spent $250 million on real estate and about $1.5 billion on other expenses. Some $4 billion and $1.5 billion went into venture capital investments to acquire other firms, while they counted $1 billion by mistake. Related Reading: Bitcoin Hits $17,000, But Is It Too Early To Call The All Clear On The Bear Market? The report also stated that SBF and the remaining employees spent the previous weekend attempting to raise funds. The funds are to fill the $8 billion hole in FTX’s balance sheet and repay customers. Cause of FTX Collapse: Fraud Or Mismanagement? Meanwhile, most people in the crypto space say the FTX crisis is a fraud and not an accident. On Wednesday, during his first public appearance after the collapse of FTX, Bankman-Fried insisted that he did not commit fraud. He claimed that he was unaware of the extent of damage and what was going on with FTX. In an interview with The New York Times, SBF blamed the collapse of the $32 billion FTX exchange on poor accounting and management failures. This comment triggered civil and criminal investigations. The investigation aims to determine whether FTX committed a crime by lending customers’ funds to Alameda Research. However, FTX’s new CEO, John Ray III, in charge of the firm’s bankruptcy proceeding, expressed disgust at the situation. In his words, Ray said he had never seen such a complete failure of corporate control, condemning SBF for unacceptable management practices. Featured image from Texas Tribune, chart from TradingView.com

Digital Currency, News

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

Digital Currency, News

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

Digital Currency, News

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

Digital Currency, News

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.

Digital Currency, News

Terra Classic Surges By 17%; Korean Prosecutors Seek Arrest of Co-Founder

Posted on December 2, 2022 By Jake Simmons

With the implosion of the LUNA coin, the Terra ecosystem was devastatingly hit within a few days in May 2022. The successor, Luna Classic (LUNC), currently once again surged in price. LUNC briefly rose to $0.00019439, registering a 20% price increase. At press time, the LUNC price showed a correction. However, LUNC was still at $0.00018 and showed a price increase of 11% over the last 24 hours. The background for the sudden pump was the fact that Binance destroyed more than 6 billion LUNC in the sixth batch of the Terra Classic token burn on Thursday. Binance sent $1 million worth of LUNC tokens to a dead address, wiping out 12.77 million LUNC. With the current token burn, Binance has now destroyed nearly 20 billion LUNC tokens. 🔥 Burn alert! 6,389,199,628 #LUNC ($1,038,309) burned to Luna Burn Wallet! https://t.co/Z6PZLanME4 #LunaBurn #BurnLuna — LunaBurnTracker (@LunaBurnTracker) December 1, 2022 The leading crypto exchange introduced the Terra Classic (LUNC) burn mechanism for trading fees in September this year. It was a response to a LUNC community proposal. All trading fees for LUNC spot and margin trading pairs are burned by Binance by sending them to the LUNC burn address. The specific amount of LUNC burned and the on-chain transaction ID are published each month. Related Reading: Will Bitcoin (BTC) See A Christmas Rally? Here’s What To Watch With the token burn, the LUNC community aims to make the token deflationary by destroying tokens and thus reducing the overall supply. According to the supply/demand theory, an increase in value occurs when the supply decreases and the tokens become rarer. For the moment, this seems to work quite well as LUNC has seen green daily candles on most occasions when the burn took place. Terra Co-Founder Facing Arrest In South Korea? In other Terra ecosystem news, Terraform Labs Pte. Ltd. co-founder Shin Hyun-Seung, also known as Daniel Shin, and seven other Terra employees are facing a court hearing in South Korea today. The hearing from South Korean prosecutors is for the issuance of an arrest warrant for the eight individuals. To that end, hearings began today for Shin and the other Terra employees. According to the Korea Times, Shin is accused of making illicit profits of over 140 billion Korean won, the equivalent of about $107 million, from the cryptocurrency LUNA. He is accused of promoting the Terra stablecoin as a payment method despite multiple warnings from regulators and misusing the private data of Chai Corporation users to promote Terra Luna. South Korean prosecutors accuse Shin and his partners of violating the Capital Markets Act and the Electronic Financial Transactions Act, as well as dereliction of duty. Related Reading: Bitcoin Price Starts Technical Correction, Here’s Key Support To Watch Shin denies the charges, claiming that he sold over 70% of his LUNA holdings before the price spike. Also, he’s claiming that he still held a significant amount of LUNA during the May collapse. A decision is expected either in the late Friday evening hours in South Korea or on Saturday. Remarkably, Terra CEO, Kwon Do-hyung, better known as Do Kwon, is still on the run. South Korean authorities issued an arrest warrant for Do Kwon in September. In October, his passport was declared invalid by South Korean authorities. Rumors have it that Do Kwon was in Singapore, Dubai and Europe in the meantime.

Digital Currency, News

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.

Digital Currency, News

Chainlink May Rise 25% This Week As Bulls Work To Reclaim Its Pre-Crash Value

Posted on December 2, 2022 By Christian Encila

The use of the native token of Chainlink is seeing a decent rise. Today alone, the price of LINK has increased by 2.0% in the last 24 hours, as measured by statistics from CoinGecko. Though not a big deal in terms of massive increases, it pumps up the bulls. In the weekly and bi-weekly timescale, the token shot up to 11.6% and 22.4% respectively. Meanwhile, let’s take a quick look at how the token has been performing: The Proof-of-Reserve mechanism used by Chainlink is open and trustworthy, which encourages investment CoinGecko has observed a surge in price, an indication of rising investor interest Negative confirmation delays any decline, while positive indicators and investor optimism ease the breach at $7.808 barrier Related Reading: Tron Adds 1.75 Million New Addresses In Last 7 Days As TRX Regains Previous Losses This price movement made by LINK is just after BTC’s pullback. Not to mention that Chainlink’s official Twitter released its own version of a Proof-of-Reserve system. According to the Tweet, this transparent system will satisfy the demands of consumers, especially after FTX’s mismanagement of user funds that resulted in the downfall of the crypto exchange. Investor Confidence Needs Boost? With investor confidence low, the price increase can be explained by the recent rise in BTC and the introduction of Chainlink’s POR system. As of this writing, the correlation between Bitcoin and LINK is 0.82. However, the token’s price may experience a period of correction if the trust boost that prompted the recent price surge is reversed. Chart: TradingView As the time of writing, the current market pullback experienced rejection at the $7.80 level, but investor confidence must be high as CryptoQuant noted a decrease in exchange reserves.  Messari demonstrates that LINK’s indicators reflect an upward price trend. Sharpe’s ratio is 0.68, suggesting that the asset is lucrative despite its inherent risk. LINK is currently trading at $7.60, up 11.4 percent in the last seven days, data from Coingecko show. But can LINK maintain its current momentum? It appears that it can. Daily RSI values are increasing, indicating a protracted and sustained bullish trend in the intermediate and long-term. The middle Bollinger band confirms this momentum, as it supports the price movement. Connecting The Dots However, CMF is currently -0.13, indicating that the market mood is still pessimistic. Previous price fluctuations also signal a demand block that might support a more robust bull run. In the next days or weeks, the price of the Chainlink token is expected to rise. Chainlink is seen making a 25% rally this week, as Bulls work to recover the token’s recent losses. If the ascending triangle reinforces the rejection at $7.808, bulls can attempt to retarget this level from the current rally’s support level of $6.709. Once a breakthrough occurs on the rejection, it will be easier to target LINK’s price prior to the FTX crash. Related Reading: Tron Adds 1.75 Million New Addresses In Last 7 Days As TRX Regains Previous Losses LINK total market cap at $3.86 billion on the daily chart | Featured image from Mapping it Out, Chart: TradingView.com

Digital Currency, News

Tron Adds 1.75 Million New Addresses In Last 7 Days As TRX Regains Previous Losses

Posted on December 2, 2022 By Christian Encila

TRON (TRX) took a heavy hit during the first half of November following unfortunate events such as the implosion of FTX, an exchange that was once considered the third largest in the world. According to data provided by Coingecko, from its $0.064 price on November 6, TRX went on a steady decline until it plummeted to $0.046 on November 14. After that, the cryptocurrency managed to stage a rebound and continues to do a relatively good job at recovering its losses. In fact, at the time of this writing, TRON has managed to tally a 19% jump from its November low, trading at $0.054. Over the last two weeks, the digital asset seems to have found its groove as it continues to shake off the negative effects of both the crypto winter and the FTX collapse. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance Tron Report Reveals Project Capable of Attracting More Users As another week came to a close, Tron blockchain, via Twitter, shared some important data pertaining to its performance for its community. According to TRON DAO’s post, the project managed to add 1.75 million new addresses within the last seven days, pushing its total tally to 123.3 million accounts. 📢#TRON Weekly Report 11.21 – 11.27 ✅#TRON blockchain height exceeded 46.23 million. ✅The total number of accounts on #TRON reached 123,377,790. ✅The total number of transactions on #TRON reached 4.28 billion. ✅The #TVL on #TRON reached $9.4 billion.https://t.co/29s3o8NKuH — TRON DAO (@trondao) November 30, 2022 Also, during the same period, the total number of transactions facilitated on the blockchain network reached 4.28 billion. In terms of total value locked (TVL), from November 21 to 27, the project was able to hit the $9.4 billion mark after registering an increase of roughly $400 million. Meanwhile, the Tron blockchain height surpassed 46.23 million during the same timeframe. The data, according to Tron, seems to prove that given the right conditions, the project is capable of enticing millions of new users to join its ecosystem. It also indicates there are still many individuals that believe in the blockchain’s potential. 3 Main Problems TRX Is Facing Although it is hovering around the $0.054 at the moment, TRON is not yet out of the woods as there are still challenges that could cause it to plummet once again. According to some experts, the cryptocurrency is left to deal with the fact that many people lost their faith in the digital asset class following the collapse of the FTX exchange platform which filed for Chapter 11 Bankruptcy on November 11. TRX is also facing fierce competition from projects such as BitGert (BRISE) and Centrex (CENX) which are, according to experts, having better adoption numbers when compared to the Tron token. Finally, within the last few weeks, there has been an apparent instability within Tron network as investors panicked when USDD (the project’s algorithmic stablecoin) lost its peg to the US dollar. These could trigger another price dump for the crypto asset, therefore investors and prospective buyers are advised to keep an eye on these to help them with their decision making. Related Reading: Huobi Token Breaches $7 Marker Following Update On This Planned Coin Unveiling TRX total market cap at $5 billion on the daily chart | Featured image from Car and Driver, Chart: TradingView.com

Digital Currency, News

Huobi Token Breaches $7 Marker Following Update On This Planned Coin Unveiling

Posted on December 2, 2022 By Christian Encila

Huobi Token (HT), a cryptocurrency trading exchange asset with an overall valuation of $868 million, recorded a significant uptick in its price after an announcement made by Justin Sun, the founder of the Tron blokchain. According to data from Coingecko, on November 29, the asset went up by 13% and peaked at $7.22 before entering a correction phase that made it return to the $6 territory. At the time of this writing, tracking from the online crypto information provider indicates the token is changing hands at $6.63, declining by 2.9% during the previous 24 hours. Still, the altcoin is sitting on a 20% gain over the last seven days and has tallied an impressive 44.3% jump for the past two weeks. This momentary surge of the Huobi Token might have been triggered by news of plans to launch a new crypto project. Related Reading: Litecoin (LTC) Continues To Impress With 25% Rally In Last Seven Days Sun Teases Debut Of Dominica Currency (DMC) Using his Twitter account, Sun – who was recently appointed by Huobi to be a member of a new global advisory board – announced the launch of the Dominica coin. The exchange platform confirmed this development with an official statement, saying that the soon-to-be-released digital asset, which will be called Dominica Currency (DMC), will be introduced to the public via the Huobi Prime – the company’s only platform for token offerings. There was no definite timeline mentioned as to when the new crypto will be available but the Bitcoin exchange said it will be airdropped to their users. Along this line, Huobi also said that their users can use their Dominica digital identification documents (DID) to confirm their identities in preparation for the airdrop. This is not the first time that the Commonwealth of Dominica, an island country in the Caribbean, advanced its crypto adoption programs as it has already made TRON and its associated native tokens legal tender within its jurisdictions. As Island Nation Anticipates, Interest For Upcoming Project Grows Although there is no clear timetable for the expected airdrop of Dominica Currency, the excitement for it is undeniable as it comes with a utility feature that is sorely lacking for many cryptocurrencies out there right now. For its part, the Huobi Token is expected to play a vital role for the good performance and overall success of the DMC that is pivotal in giving holders greater chances for higher return on their investments. With this development, HT managed to surge in value. Moreover, its technical indicators are pointing at a further climb, although the volatility of the market can once again obliterate all its recent gains. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance Crypto total market cap at $808 billion on the daily chart | Featured image from Crypto News, Chart: TradingView.com

Digital Currency, News

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…

Digital Currency, News

Reports Show Bear Market Didn’t Affect Crypto Fundamentals

Posted on October 31, 2022 By Sarah

Notably, the first half of the year brought the most drastic phase of crypto winter ever witnessed in the history of cryptocurrency. Coupled with the collapse of Terra and some crypto-related companies, the market was thrown into a state of crisis. Related Reading: Bitcoin Price Aims For $21,000, Will There Be A Wider Trend Change? However, a report from Fidelity Digital Assets implies that the crypto fundamentals remained unscathed through the bearish trend. This information sprung following the manager’s annual report tagged 22 Institutional Investor Digital Assets Study. This occurred as the firm x-rayed the crypto industry from an institutional perspective. According to the research, the crypto market has fully repositioned to wade off the impact of macroeconomics it’s been facing recently. Survey Indicates Strength Of Crypto Fundamentals Tom Jessop, the President of Fidelity Digital Assets, reacted to the research. According to him, digital fundamentals have stood firm through the storm. Also, he noted that the institutionalization of the crypto market for some years had fortified it to withstand recent impacts. According to Jessop, institutional investors exhibited their experience scaling through different market cycles. He mentioned that the attractive factors in the market maintained their relevance as they moved across the bearish phase. The research surveyed about 1,052 experts from different firms during the year’s first half. As a result, it revealed the varying levels of crypto adoption among different types of investors. According to the survey, adoption among institutional investors increased in some regions compared to the year’s value. The US and Europe recorded an increase of 42% and 67%. Asian institutional investors have a slight drop. But the overall outcome showed that they had the highest adoption of crypto assets with an allocation of 69%. In terms of investor type, crypto adoption and consideration topped among high-net-worth investors, venture capital investors, financial advisors, and crypto hedge funds. The lower-scale adoption investors are endowments and foundations, pension plans, family offices, and traditional hedge funds. Fidelity Digital announced its provision of Ethereum trading options for its institutional market earlier this month. Top Appealing Features For Institutional Investors The research from Fidelity Digital also recorded some appealing features, as noted by institutional investors. The surveyed participants’ most appealing ones include innovation technology, decentralization, and high potential upsides. According to the survey, the surveyed investors cited that crypto has no correlation to other assets as the fifth most appealing feature. But the crypto markets have shown a high correlation to tech stocks this year. Additionally, the research covered investors’ plans for cryptocurrency investments or purchases. It noted that 74% of the participants still had such plans, slightly higher than the 71% recorded last year. Related Reading: Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit The value is commendable, considering that 2021 was bullish while the bears dominated the 2022 digital asset market. Featured Image From Unsplash, Charts From TradingView

Digital Currency, News

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

Digital Currency, News

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

Digital Currency, News

Litecoin Price Revisits $56, What Is Next For The Bulls?

Posted on October 30, 2022 By anushsamal

Litecoin price witnessed an increase in value over the last 24 hours. In the past day, the coin surged more than 3%. The past week for LTC has remained quite positive for the altcoin as it logged over a 9% gain in that timeframe. The coin has continued to form higher highs on its chart, demonstrating that the bulls were in control of the price. That caused the altcoin to break its consolidation and shatter above important resistance marks. The technical outlook for the coin was bullish at the time of writing. The demand for Litecoin registered appreciation as demand for the coin also shot up. The coin has established strong support for itself at the $53 price mark. Currently, LTC trades at a vital price mark as the coin has struggled to move past this price level for the past several weeks. If the bulls fail to sustain the price at the current price, a fall through the $53 support line will bring the bears back on the chart. At this price mark, LTC is trading at an 86% low compared to its all-time high that the coin secured in May 2021. Litecoin Price Analysis: One-Day Chart LTC was trading at $56 at the time of writing. After a solid consolidation, the coin has finally been able to revisit the $56 price mark. If Litecoin has to remain bullish, it has to continue trading above its current price zone. The coin will encounter immediate resistance at $57. A move above $57 will help LTC to touch the $60 price mark. On the other hand, a slight loss in bullish strength, can drive the altcoin’s price down to $53 and then to $50. The amount of Litecoin traded in the past session was in the green. This means that the buyers were back on the chart. Technical Analysis The altcoin has implied that the bulls were back as the demand for the altcoin noted an uptick on the one-day chart. The Relative Strength Index was at the 60-mark, a sign of bullishness as buyers were more in number than sellers. Litecoin price was above the 20-SMA line, which meant increased demand for the coin and also showed that buyers were driving the price momentum in the market. Related Reading: Why Bitcoin (BTC) Could Not Surpass Litecoin (LTC) In This Key Area The other technical indicators have also inclined towards the idea that bullishness has caused buying strength to increase on the one-day chart. The Moving Average Convergence Divergence displays the price momentum and the direction of the asset. The MACD was bullish with green histograms above the half-line, which was the buy signal for the asset. Bollinger Bands indicate the price fluctuations and volatility of the coin. The bands were starting to expand, hinting that there could be a chance of an upcoming price fluctuation. Related Reading: Why XRP Holders Who Are Taking Profit Should Check These Data In The Coming Days Featured image from Unsplash, Chart From TradingView.com

Digital Currency, News

Dogecoin Continues To Thrive With Over 93% Gains In A Week

Posted on October 30, 2022 By Alyz

October has been a bullish month for Dogecoin as the “Dogefather,” Elon Musk, takes over Twitter. Despite trading in the red at press time, the meme coin still holds over 90% gains. There has also been a rise in demand for the asset. This surge comes as many anticipate that DOGE would gain value due to Musk’s purchase of the social media giant. Dogecoin’s price increased from $0.05 on October 23 to $0.11 today, October 30, a gain of 93.%. In addition, the weekly DOGE chart reveals that the price hit a five-month high of $0.14 on October 23. Related Reading: Will Binance Oracle Hamper Chainlink Growth Amid The Bullish Run Simultaneously, the asset has seen a rise in capital invested. Market valuation for the token rose from $9.02 billion a week ago to $15 billion as of press time. It’s worth mentioning that the popular meme coin is still trading at a massive 82.66% loss from its all-time high. Dogecoin Snatches The 8th Spot From Cardano Dogecoin is now the eighth largest cryptocurrency by market capitalization, according to data provided by CoinMarketCap. Cardano previously held this position. Dogecoin overtook Cardano on Saturday night with a current market value of $15,366,657,028. This puts it ahead of Cardano (9) and Solana (10), with respective market caps of $13 and $11 billion. Monday’s rumours that Elon Musk would acquire Twitter’s social media platform boosted the value of the meme token. Doge’s optimism was maintained all week long, thanks to two mainstays. First was the overall crypto market growth this week, which saw the entire market breach the $1 trillion barrier. Beyond that, Elon Musk’s progress toward finalizing the Twitter takeover agreement was a major factor in Doge’s ascent. The billionaire visited Twitter’s headquarters on Wednesday and officially completed the deal on Friday, October 28. This brought an end to the six-month negotiation process. The potential for Dogecoin’s integration with Twitter has boosted its value. Musk previously proposed utilizing DOGE to control Twitter spam and bots and charge users for tweets. Cardano Plans To Integrate Dogecoin On Twitter As A Sidechain Charles Hoskinson intends to incorporate ADA and the famous meme token Dogecoin into Elon Musk’s Twitter. The Cardano creator believes that the social media platform will soon integrate DOGE, as Musk has mentioned on several occasions. This confidence stems from Musk’s recent completion of his $44 billion buyout of Twitter. As Elon Musk becomes Twitter’s new “Chief Twit,” the microblogging platform is about to undergo significant changes. These changes all appear to be beneficial to cryptocurrencies, notably Dogecoin. Related Reading: Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit IOG (previously IOHK) CEO Charles Hoskinson believes there is “a serious potential” that DOGE would “somehow integrate” with Twitter. Hoskinson was asked if he thought Dogecoin would adopt a PoS or PoUW consensus system before its Twitter integration. Instead, he proposed making the dog-themed cryptocurrency a Cardano sidechain. The Cardano developer has shown his willingness to migrate the network at no cost and implement smart contracts. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

Will Binance Oracle Hamper Chainlink Growth Amid The Bullish Run

Posted on October 30, 2022 By Denis

Recently, the global leading crypto exchange Binance has created a record using Web 3. In addition, the giant crypto service provider recently unveiled its new decentralized Web 3 oracle network. The shift into Web 3 is skyrocketing gradually. More events, projects, applications, and activities are coming with more innovative additions. In addition, the new belief surrounding Web3 as the next future with greater possibilities fuels its popularity. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits Will Chainlink Continue Leading The Game? This new project from Binance serves as the first major competition to the other oracle services networks. Chainlink (LINK) has been the lead among others of its type. Chainlink’s robust infrastructure has helped it create a strong data feed network. Hence, it could bridge real-world online data and blockchain-based systems. The new Binance Oracle is to operate as a data feed network by creating a link between real-world data and smart contracts on blockchains. This means it will enable smart contracts using real-world inputs and outputs. Binance Oracle Will First Operate On BNB Chain According to its plan for the new oracle project, Binance will first use the services on its BNB Chain. Then, it will enable almost 1,400 DApps and different Web 3 partners to access some existing data sources. Following the unveiling, many projects are taking several actions already. For example, over ten projects on the BNB Chain have integrated smart contracts to flow with Binance’s bird program. Before now, Binance disclosed that the oracle services from the new project are chain-agnostic. But there will be support for more blockchain networks in the future. Gwendolyn Regina, the Investment Director at BNB Chain, spoke concerning the development. The director noted the wave of interest in the new internet through its shift to well-connected smart contracts. Also, it has been essential to use oracles to heighten the knowledge of the smart contract. This will connect it with the current happenings outside the blockchain. So, blockchain activities could quickly respond and adjust to external events with the proper flow. According to director Regina, the new Binance Oracle will provide stable and reliable reports. This will represent complete accuracy and accessibility features. Hence, the oracle will become a significant contributor to Web 3. Operations Of Binance Oracle Binance has placed some distinctive features for its new project. First, the overall performance of Binance Oracle targets a higher level of reliability. The network sources price data from several centralized exchanges (CEXs) and aggregates prices through an intelligent algorithm. Related Reading: Why This Bitcoin Indicator Points To Bullish Double Bottom While providing data feeds, the Binance public key is meant to verify the authenticity of the data multiple times. This will eliminate cases of tampering. Regarding individual data feeds, Binance Oracle depends on Threshold Signature Scheme (TSS). This is reputable in providing a distributed mechanism that removes all failure traces. Featured Image From Pixabay, Charts From Tradingview

Digital Currency, News

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

Digital Currency, News

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.

Digital Currency, News

Shiba Inu (SHIB) Sees Over 26% Gains During Market Recovery

Posted on October 30, 2022 By Alyz

It’s been a green October ending for the entire crypto market, and the meme coin section is no exception. Shiba Inu, the biggest Dogecoin rival, has fluctuated 26% gains after joining the recent market-wide correction. Earlier in the day, the top-20 coin had a 24-hour high of $0.00001488. It even looked like it’ll break through the $0.000015 mark. However, it faced serious rejection and fell back to $0.00001251. With this fall, Shiba Inu has lost 0.52% on the day. Nonetheless, it might enter into November with a solid price range if it finds support.  Related Reading: Bitcoin Price Aims For $21,000, Will There Be A Wider Trend Change? However, higher price rejection during the current rebound rally may soon present a reversal opportunity. Shiba Inu Surges Alongside Other Memecoin, Can It Sustain The Growth? Shiba Inu has joined the surge in meme coins with Dogecoin as billionaire Elon Musk completes his Twitter takeover. The cryptocurrency market recovery, marked by rising altcoin demand, has continued alongside a week of gains in U.S. markets. After a week-over-week increase of 48%, the price of Shiba Inu soared to the $0.000015 level. It surpassed the important Exponential Moving Averages(20, 50, and 100).  In retrospect, the bullish breakthrough of the consolidation that occurred between $0.0000104 and $0.00000955 was the spark that ignited the rally. The altcoin’s current market price is $0.00001255. This represents a 0.52% decrease intraday and a rejection of $0.000015. Shiba Inu might retest the $0.00001255 0.5 FIB level or the $0.0000128 0.382 Fibonacci retracement level. But selling pressure at the overhead barrier of $0.000015 has to intensify for this to happen. If the purchasing pressure continues throughout the corrective phase, the price of Shiba Inu will break above the overhead barrier. This would create a chance to enter the market and fuel positive sentiment. This means that a daily candle closing over $0.000015 can push prices up to $0.000016. New SHIB Wallets Reaches New Highs as it Gains Weekly High Of 33% In a week when SHIB prices rose 9% and more, 6,000 new cryptocurrency wallets were created. CryptEye reports that the number of holders has hit a new record high. The total is within a few hundred accounts of the 2.22 million mark, thanks to the influx of new investors. In the previous three months, the number of wallets with at least one SHIB transaction has climbed by 150,000. The most notable spike occurred between the middle and end of September. During this time, 87,000 new wallets were opened specifically to hold SHIB. Related Reading: ApeCoin Shows Bullish Bias; This Level Needs To Be Broken For A Rally To $7 Despite a rise in the number of people holding a SHIB, it wasn’t enough to push the token’s price. Even though there are more SHIB holders, this does not mean that there are more quotes. One glaring instance is the massive liquidation of SHIB holdings by major Ethereum holders. A week ago, the top 100 ETH whales controlled more than $120 million in Shiba Inu; now, that number has dropped to around $40 million. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

Aptos (APT) Continues To Shine With Over 18% Gains In Last Week

Posted on October 28, 2022 By Alyz

Aptos, the newest blockchain in town, continues to make waves with a massive gain of over 18%. The price has been on a 7-day rally and is now trading at $8.79, representing a 0.74% decline from yesterday’s close. The team behind Aptos has been working hard to get their project off the ground. Despite experiencing a rocky start with the price falling sharply, they’ve managed to stabilize things and are now seeing some positive momentum.  Related Reading: Can Elon Musk Influence The Next US Election? Aptos is poised to be one of the most exciting projects this year, especially in the NFT sector. The blockchain touts itself as a Solana killer and is already attracting many digital artists and communities. Aptos Joins Other Coins To Lead Gains As Market Tries To Revive Aptos is barely a month old, but it’s already making big gains. Only four days back, the coin reached an all-time high of $10.22. After a slight correction, the coin trades at around $9 by fluctuating a minor decrease in value on the last day. This makes it one of the highest-performing cryptocurrencies in the past week. But Aptos isn’t the only coin boasting substantial gains these past 7 days. Many other coins have also seen significant growth. For example, Dogecoin made an impressive 41% increase in the last seven days. But it wasn’t just Dogecoin that saw such gains. Ethereum and Cardano also experienced similar increases of over 20% each. This shows that there is still a lot of interest from traders and investors in the cryptocurrency market. Plus, several crypto whales have been on the move lately, making large purchases of various altcoins. The total crypto market cap also crossed the $1 trillion mark for the first time in October, as per Coingecko charts. Aptos Price Movement Analysis Since October 23rd, Aptos’s (APT) price has been moving in a descending parallel channel. Usually, corrective actions are seen in these descending parallel channels. If this is true for APT, it might be possible for it to break out of the channel. There has been no confirmation of either the resistance or support lines. Furthermore, there is a possibility that APT’s price will fall below the channel’s middle line. In that case, the potential of a breakout would be halted. Currently, $8.65 is where most buyers and sellers of APT converge. Both the 0.5 Fibonacci retracement support and a horizontal support zone may be found here. The bearish trend could speed up if this level were to be broken. Related Reading: Bitcoin Price Loses Steam At $20,500, Earnings Season Plays Against Crypto The APT wave count indicates a positive trend for the cryptocurrency. There appears to have been a five-wave progression in APT from October 21. Following that, the motion inside the channel is perhaps best described as a W-X-Y corrective structure. This structure was long enough to suggest that the decrease might be final. If so, this may indicate that APT is about to break out of the channel, leading to an increase in price. The first possible high for this hike is $11.42. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

Dogecoin Records Over 41% Gains Following Market Recovery

Posted on October 28, 2022 By Alyz

Popular meme coin, Dogecoin, is on a 7-day rampage. The token has recovered over 41% of its value following the market recovery. Dogecoin has also recorded over 17% on the day, making it one of the best-performing tokens in the past 24 hours. The cryptocurrency market has been recovering from its recent slump, which has seen many altcoins gain significant gains. However, Dogecoin has outperformed most other coins in the top 20 by gaining more than 41% in just seven days. DOGE’s price surge comes after Elon Musk visited Twitter HQ yesterday following his Twitter acquisition announcement. Related Reading: Solana Recaptures $30 Support; Here Is What To Expect Based On This Indicator Dogecoin Keeps Over 17% Profits On The Day Data from CoinMarketCap shows that Dogecoin (DOGE) has risen in value for the second day in a row. The popular meme coin reached a new monthly high of $0.08423 today. Dogecoin dropped briefly but has recovered to trade at $0.084, a more than 17% increase over the past 24 hours. Furthermore, trading volumes increased by 112.24% within this time frame. DOGE has increased over 41% in the past week, the most among the top 20 cryptocurrencies by market cap. With a market valuation of $10.5 billion, Dogecoin is the tenth largest cryptocurrency. It is less than a billion dollars from surpassing Solana (SOL). Coinglass reports that traders closed out about $8.69 million worth of Dogecoin futures during the past day. Most of the Dogecoin sales (78.81%) resulted from failed short positions. Shiba Inu (SHIB), another joke coin that competes with Dogecoin, has also increased in value over the past day. It grew by roughly 4% and currently trades at around $0.00001113. Bitcoin and Ethereum, two main cryptocurrencies, have also registered minor gains over the previous twenty-four hours. Bitcoin posted -0.61%, and Ethereum posted -0.11%, respectively. Elon’s Visit To Twitter HQ Pumps Dogecoin  Dogecoin’s price increase is attributed to Elon Musk’s remarks regarding his Twitter acquisition and HQ visit. Musk tweeted, “Entering Twitter HQ—let that sink in,” as he carried a sink fixture into the building. In addition, he updated his Twitter profile to include the title “Chief Twit.” Twitter’s Chief Marketing Officer, Leslie Berland, allegedly wrote in an internal memo that Musk “is in the [San Francisco] office this week speaking with staff, strolling the halls.” She also said that this week, he would speak to Twitter employees. She wrote, “You’ll all hear directly from him on Friday.” Expectations are high that Musk’s takeover of Twitter will conclude soon. He promised his backers yesterday that he would finalize the Twitter agreement by Friday, October 28. The latest report indicates the transaction will be finalized by 5 pm ET on the same day. Related Reading: Why Crypto Market Fear Mirrors Lull In Volatility It’s still unclear if Musk’s early cryptocurrency plans for Twitter (like integrating Dogecoin and using microtransactions to stop spam) will be implemented. Nonetheless, the announcement has generated excitement among crypto enthusiasts, sending DOGE prices up 16% in the last 24 hours. These increases are likely attributable to the partnership with Twitter. However, there’s been a few other noteworthy developments involving the coin. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

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…

Digital Currency, News

Uniswap Price Breaks Past The $7 Mark After Forming This Pattern

Posted on October 28, 2022 By anushsamal

Uniswap price has been able to break past the consolidation phase. Over the last 24 hours, the altcoin has moved up by more than 4%. In the past week, the coin surged close to 8%, which can be equated to a rally. UNI has been consistently green ever since the other altcoins started to travel north on their charts. The technical outlook of the coin also agreed with the bullish force. However, it is important for Uniswap to maintain this momentum and trade above its immediate price ceilings. If not, then the bulls could soon lose their strength. Buyers have been supportive of the bulls. As noted on the one-day chart, demand for Uniswap grew substantially. It is important that UNI trades above the $8 price mark in order for the coin to come under complete bullish control. Uniswap price has continued to form higher highs, which are tied to strong bullish momentum. The global cryptocurrency market cap today was at $1.04 trillion, with a 0.5% positive change in the last 24 hours. Uniswap Price Analysis: One-Day Chart UNI was trading at $7.04 at the time of writing. The coin has struggled considerably to cross the $7 price mark for the past few weeks. Overall market strength helped the bulls to zoom past the $7 price mark. The coin encountered immediate resistance at $7.40. This is a crucial price mark for the coin. Once the bulls manage to break above $7.40, the coin could experience another resistance at $7.90 before it can trade above the $8 price level. A fall from this level will take the altcoin to the $6.47 price level and then to the $6.02 support line. The amount of UNI traded in the last session also appreciated, indicating that buyers had increased in number. Technical Analysis The altcoin for the past month and a half noted more selling pressure compared to buying strength. With its recent break from lateral trading, buyers are finally back on the chart. The Relative Strength Index was above the 60-mark, which is considered bullish with more buyers compared to sellers. Additionally, UNI formed a bullish engulfing pattern which happens when the chart pictures bigger-sized greener candles. This pattern is tied to positive price action. The Uniswap price was above the 20-SMA line which signified growth in the altcoin’s demand. It also meant that the buyers were driving the price momentum in the market. Related Reading: Solana Recaptures $30 Support; Here Is What To Expect Based On This Indicator UNI was under a bullish influence, as pointed out by other technical indicators as well. The Moving Average Convergence Divergence indicates the strength and direction of an asset. The MACD underwent a bullish crossover and formed green histograms. These were the buy signal for the altcoin. Bollinger Bands measure price volatility and price fluctuation. The bands were moving parallel to each other, signifying that price movement will not experience any sharp volatility over the upcoming trading sessions. Related Reading: Bitcoin Price Can Touch $22,000 If The Bulls Barrel Past These Levels Featured Image From VOI, Charts From TradingView

Digital Currency, News

Polygon Shows Strength As Bulls Eye $1, But There Is A Key Issue Pending

Posted on October 28, 2022 By jamesobande

MATIC’s price shows strength as it bounces from a downtrend range price rallied to a high of $0.95 with eyes set on $1.  MATIC faces a major issue break and holds above 61.8% Fibonacci value and trends higher to a region of $1. MATIC’s price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies. The price of Polygon (MATIC) has been one of the standout performers during the past few weeks that saw the price of Bitcoin (BTC), Ethereum (ETH), and other altcoins struggle to hold their key Support, the price of Polygon (MATIC) showed strength holding above and bouncing off that region of $0.77 away from this support area. The past few days have seen the crypto market has looked more decent, with the likes of Bitcoin (BTC) and Ethereum (ETH) showing some great price movement in recent times. MATIC’s price is rallying from $0.83 to a region of $0.95 as the price aims to take the market by its horn. (Data from Binance) Related Reading: The Inverted Bitcoin Chart Bears Don’t Wanna See | BTCUSD Analysis October 27, 2022 Polygon (MATIC) Price Analysis On The Weekly Chart In recent times, Polygon has struggled to regain its bullish momentum; despite the uncertainty that has befallen the crypto space, the price of MATIC held its ground as price defended its key support area of $0.77.  MATIC’s price had struggled to replicate its rally that took the price of MATIC to an all-time high of $3 before it faced rejection to trend higher. After trading in a range for weeks as the price continued to look difficult to trade due to little to no volume to push the price higher as the price continued to look stagnated, MATIC finally showed some movement, rallying from its weekly low of $0.75 to $0.85 and closing higher after several weeks.   Weekly resistance for the price of MATIC – $1. Weekly Support for the price of MATIC – $0.77. Price Analysis Of MATIC On The Daily (1D) Chart In the daily timeframe, the price of MATIC continues to show a more bullish scenario as the price rallied to a high of $0.95 before facing resistance to the trend to a region of $1.   The price of MATIC needs to break and hold above $0.97 for the price to trend higher to a region of $1, which is a key supply zone for most traders.  The Fibonacci retracement (Fib) value of 61.8% indicates MATIC’s price faced a rejection to trend higher as the price tried to break above this key value. The price of $0.97 corresponds to the Fib value of 61.8%. If the price of MATIC closes above this level, we could see a rally to $1-$1.2. Daily resistance for the MATIC price – $1. Daily Support for the MATIC price – $0.85. Related Reading: Can Elon Musk Influence The Next US Election? Featured Image From zipmex, Charts From Tradingview

Digital Currency, News

Ethereum Price Surge Might Not Last If The Bulls Don’t Topple These Levels

Posted on October 28, 2022 By anushsamal

Ethereum price has held onto its bullishness on the one-day chart. In that timeframe, the altcoin has managed to increase in value by 3%. Over the last week, the coin rallied over 21%, breaking past multiple resistance levels, which has further strengthened the bulls. The coin has to zoom past two important resistance lines in order to continue its bullish streak. The technical outlook of the coin continued to display bullish momentum. There was a surplus of buyers as Ethereum price shot up to the overbought zone. Bitcoin has finally settled at the $20,000 price mark over the last 24 hours, turning other altcoins positive too. Ethereum price has been rangebound for multiple weeks, but with the overall market turning green, the coin has helped the altcoin eye its next major resistance line. If ETH manages to break past the $16,000 zone, then a move to the $2,000 price mark could be likely. On the other hand, if buying strength loses steam, then ETH can again start to exhibit rangebound price movement. Ethereum Price Analysis: One Day Chart ETH was trading at $1,560 at the time of writing. Ethereum price has soared considerably over the past week, breaking past its consolidation phase. If the coin has to sustain this price momentum, it is important that it trades above its immediate resistance of $1,630. Moving past that level will help the bulls challenge the $1,700 price mark. This would help the bullish thesis gain strength. Once the altcoin moves past the $1,900 mark, Ethereum price will be completely in the control of the bulls. In case the surge doesn’t last, a fall will bring the altcoin to $1,300 first and then finally to $1,200. In the past few trading sessions, the amount of ETH traded witnessed an increase, pointing towards higher demand for the altcoin. Technical Analysis The altcoin was overbought on the one-day chart. The last time Ethereum visited this zone was in the month of August. This marked a multi-month high for the altcoin in relation to the buying pressure it witnessed. The Relative Strength Index was above the 80-mark, which signifies that ETH was overbought as demand for the coin increased. Ethereum price was above the 20-SMA line, which was a sign of bullishness as buyers were driving the price momentum in the market. With sustained demand, the 20-SMA could cross above the 50-SMA line, forming a golden cross, which is considered to be bullish. Related Reading: Solana Price Bounces Back, Move Above $34 Remains Crucial The other technical indicators were also quite bullish, supporting the notion that buyers had taken over. Moving Average Convergence Divergence indicates the price momentum of the coin and the price direction. The MACD was positive as it formed green signal bars which were growing. This pointed to a buy signal for the coin. The Directional Movement Index was also positive as +DI was above the -DI line, which signals a bullish price direction. The Average Directional Index (red) was above the 20-mark, forming an uptick pointing in the price direction, gaining strength. Related Reading: Here’s What’s Keeping Ethereum From Taking Bitcoin’s Shine, ETH Claims $1,500 Featured Image From UnSplash, Charts From TradingView

Digital Currency, News

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…

Digital Currency, News

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 

Digital Currency, News

Dogecoin Price Surges, Technical Outlook Suggests Further Uptrend

Posted on October 27, 2022 By anushsamal

Dogecoin price has risen substantially over the past day. In that timeframe, the coin’s value had appreciated by double digits. Over the last week, Dogecoin price logged a 12% gain, proving that the coin has rallied recently. The coin has been one of the top gainers on the chart, along with Ethereum, as both coins secured double-digit gains. The meme-coin has secured a monthly high at this price level. Dogecoin price finally broke through their consolidation and passed through their resistance, converting it into a support line. The technical outlook for the coin has turned bullish for the Dogecoin price. The buyers came back into the market as demand for the crypto considerably increased. If Dogecoin continues its price momentum, then the coin can move past the $0.70 price mark and touch $0.80, which would help the bulls to push past further price levels. At the current price level, the Dogecoin price is still trading at a 90% low from its all-time high, which it secured in the month of May 2021. Dogecoin Price Analysis: One-Day Chart DOGE was trading at $0.069 at the time of writing. The coin broke past the $0.063 price mark, which is now acting as local support for the coin. Over the next trading sessions, the coin could push past the $0.070 mark. The immediate resistance mark for the Dogecoin price will be at $0.72 and then at $0.78 before it attempts to trade at $0.80. Touching the $0.80 mark will prove to be a multi-month high for the coin. On the other hand, a slip from the current price level will take Dogecoin straight to $0.56 and then to $0.50. The amount of Dogecoin traded in the last session soared substantially, signaling an increased demand for the coin. Technical Analysis The altcoin displayed overvalued conditions at the time of writing. The last time Dogecoin entered the overbought zone was in the month of August. The Relative Strength Index displayed a perpendicular recovery as the indicator moved above the half-line and went straight to the 80-mark. This meant that buyers heavily outnumbered sellers. The Dogecoin price soared past the 20-SMA, which again indicated that there was a rapid growth in demand for the meme-coin and that buyers were driving the price momentum in the market. A continued push from the bulls can also form a golden cross, which means that the 20-SMA line will cross above the 50-SMA line. This reading signifies a heavy bullish influence on the asset. Related Reading: Avalanche Fires Back to $17; Can The Bulls Push More To $20 Instead? Other technical indicators have also indicated that bullish action was driving Dogecoin. The Moving Average Convergence Divergence indicates the overall price momentum and direction of the coin. MACD underwent a bullish crossover and portrayed green histograms, which act as buy signal for the coin. The Chaikin Money Flow is in charge of displaying the asset’s capital inflows and outflows. The CMF was quite positive as the indicator was far up and away from the half-line, signifying positive price movement. Related Reading: Is Bitcoin Rise Above $20k Sustainable? Here’s What On-Chain Data Says Featured Image From The Hindu, Charts From TradingView

Digital Currency, News

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

Digital Currency, News

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

Digital Currency, News

Data: Bitcoin Whales Who Accumulated At $18k Have Continued To Hold Strong

Posted on October 22, 2022 By Hououin Kyouma

On-chain data suggests Bitcoin whales who accumulated during the June crash have continued to hold strong so far. Bitcoin Sum Coin Age Distribution Shows Strong Accumulation Around $18k As pointed out by an analyst in a CryptoQuant post, the $18k level has been getting support from the whales as they have made spot purchases at this mark. The relevant indicator here is the “Sum Coin Age Distribution,” which tells us about the amounts the different Bitcoin investor groups are holding in their wallets right now. These groups are based on the idea of “coin age,” a measure of the total number of days a coin has been sitting dormant on the chain for. Related Reading: This On-Chain Metric Suggests Bitcoin Not In Danger Of Another Sharp Drawdown As an example, if 1 BTC remains still in a single address for two weeks, then this coin is taken as a part of the “1 week to 1 month” (1W to 1M) supply. Now, here is a chart that shows the trend in the Sum Coin Age Distribution in the Bitcoin market over the last year: Looks like the 3M to 6M group has been going up in recent weeks | Source: CryptoQuant As you can see in the above graph, the amount of supply held by the different Bitcoin coin age cohorts has shown an interesting pattern during the last few months. When the crypto’s price crashed back in June, the 1D to 1W supply spiked up as whales picked up some fresh coins around the $18k level. As the days passed, these coins started aging into the 1W to 1M range, causing the 1D to 1W band to plunge down, while the 1W to 1M group observed an uptrend. Related Reading: 3 Altcoins That defy Bitcoin Dominance And Continue To Rally – CSPR, TWT, CRV Similarly, these coins matured further with time, leading to the 1M to 3M group rising up and the previous one falling off. And finally, in the last couple of months, the 3M-6M cohort has also found itself at the end of this cascading effect. The recent increase in this last group suggests that the Bitcoin whales who bought during the crypto’s decline to $18k have still not realized profits on their coins, and have continued to hold onto them with conviction. BTC Price At the time of writing, Bitcoin’s price floats around $19.2k, up 1% in the last seven days. Over the past month, the crypto has gained 4% in value. The below chart shows the trend in the price of the coin over the last five days. The value of the crypto continues to show stagnant price movement in the last few days | Source: BTCUSD on TradingView Featured image from Michael Blum on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Digital Currency, News

The Other Side Of The Do Kwon Story: Fat Man Terra Visits Laura Shin

Posted on October 22, 2022 By Eduardo Próspero

It’s time to listen to the other side. Fat Man Terra used to be a cog in the Terra machine, but nowadays he’s the protocol’s biggest critic. He’s also a researcher, and his investigation lead him to believe that Terra was a scam from the very beginning. Of course, Laura Shin’s Do Kwon interview rubbed Fat Man Terra the wrong way. So, exercising his right to reply, he went to the same platform and told his side of the story. If what Fat Man Terra says is true, the Terra/ Luna story is a horror film.  A court will probably decide if he’s right or wrong, though. Let’s explore his allegations, taking into account that this is just the investigator’s interpretation of the facts. He might know more about the Terra/ Luna case than everyone on Earth, though. Related Reading: Meet The UST Restitution Group: Tracking Do Kwon, Looking For Payback This is the introduction to the episode titled “Fat Man Terra Speaks: Do Kwon Is a ‘Sociopath’ and a ‘Charismatic Manipulator”: “Fat Man Terra, the anonymous Twitter account dedicated to bringing Do Kwon to justice, reacts to my recent interview with Do Kwon and says what he thinks it revealed about his personality.” This is the video: Fat Man Terra Presents The Case According to the pseudonymous investigator, the Terra creators were “unfairly enriching themselves” and failed to disclose critical information to investors. On purpose. Regarding his interview with Shin, Fat Man Terra thinks Do Kwon was “dancing around questions” and didn’t answer directly several of them.  He thinks Do Kwon was “intentionally lying” about Terra’s breakup with Chai. Both when it happened and during the interview. At best, the situation was “heavily mishandled.” Fat Man Terra claims that on-chain data shows that TerraForm Labs cashed out billions of dollars. They cashed out throughout Terra’s whole existence. He also thinks there’s proof that the organization has “hundreds of millions stashed away.”  According to the pseudonymous investigator, at the time Terra claimed that the protocol was attacked, but could not find “proof of fraud.” The investigator also thinks that Do Kwon is “not able to stick to one story.” That’s a characteristic that fraudsters often exhibit. And he claims there’s a reason that regulators all over the world are looking at Terra specifically. Some things don’t add up, and this case is far from over.  LUNA price chart on Eightcap | Source: LUNA/USD on TradingView.com Opinions About Do Kwon’s Character Respectfully, Fat Man Terra goes for the throat. He’s been studying Do Kwon and his diagnosis is that the man is: A “sociopath with little regard for people’s feelings.” “Avoiding law enforcement” and “definitely on the run.” An idiot. Apparently, Do Kwon held all of the company’s bitcoin reserves in a single wallet.  A liar. He knew that his involvement in the failed algorithmic stablecoin Basis Cash was relevant and should have disclosed it.  A thief. Do Kwon was pretending to believe in Terra over everything and promoting it as such to retail. In reality, he was “simultaneously pulling out” hundreds of millions.  According to Fat Man Terra, it all comes down to that. “If you really believe in UST, why did you cash out so much,” he asks Do Kwon. Also, why did he made up statistics and inflated the network’s numbers?  Related Reading: Are There Any Chances Of Terra UST Victims Getting Refunded? Let’s Find Out The investigator will “start to believe he’s sorry” when Do Kwon starts making affected Terra investors whole from his own pocket.  Fat Man Terra Is Still Optimistic The parasites will always be there, surrounding the crypto space. According to Fat Man Terra, if the industry wants to survive we have to start “calling out scammers” and “pushing for justice.” He believes the industry will develop “failsafe mechanisms” to filter out bad actors and, in general, he’s “optimistic about the future of the space.” Make no mistake, though. Despite the optimism, the investigator claims that “Terra was a scam at every level.” According to Laura Shin, Do Kwon will be back to answer the allegations in the future. Featured Image: Laura Shin screenshot from the interview | Charts by TradingView

Digital Currency, News

Solana (SOL) Could Recoup Losses In Last 7 Days – Here’s How

Posted on October 22, 2022 By Christian Encila

Solana continues to paint its charts in red, registering declines on its intraday, weekly, biweekly, monthly and year-to-date price metrics. Solana loses over 7% of its value over the last seven days SOL’s extended bearish movement will likely pull the asset below $25 Solana’s current TVL is less than a billion The crypto has already lost 89.3% of its November 6, 2021 all-time high (ATH) of $259.96 and is currently trading at $27.81 according to tracking from Coingecko at the time of this writing. Over the last seven days, the altcoin dropped by 7.4%. On a 14-day period, Solana declined by over 15% as it failed to make any kind of recovery for quite some time now. As if the cryptocurrency hasn’t suffered enough already, its analysis points indicate it is due for a bearish pull in this extended crypto winter. Solana Seen Dropping Before Bouncing Back After Solana fell below the crucial $30 marker, its chart had red candlesticks for three straight days, putting its trajectory into a further decline. The digital asset’s problems became bigger when it dropped below $28 as its 20 and 50 Exponential Moving Average (EMA) indicated sellers having a huge advantage this time. Related Reading: AVAX Sheds 50% Over The Last 60 Days – More Losses Ahead? Source: TradingView A piece of good news, however, is that despite having another bearish run, Solana managed to keep its hopes of making a bounce back intact. A massive downward pull will likely put the altcoin in $26.3 support which will give sellers the opportunity to do their work and deflate SOL’s price further, all the way to $24. After this, the digital coin is seen to have some breathing room and prepare for an upward price rally which will target the $27 to $29 range. If Solana manages this, it will recover some of its losses over the last week. Analysts, however, are seeing a slow moving phase for the crypto asset. Solana’s DeFi Locked Value Plummets To Under A Billion Solana used to rival some of the more prominent blockchains in terms of its Decentralized Finance (DeFi) total value lock (TVL). Just last year, the network’s TVL recorded a massive surge as it reached over $10 billion. However, at press time, that value significantly dropped and is at just above $860 million. Not only did Solana’s TVL dried up, it is in danger of going down even more as the DeFi industry has lost a  lot of its momentum. It would appear not many people are willing to gamble and take risks in a market that is under a bearish streak. If this continues, SOL will likely end-up falling below the $25 marker and will lose any chance of triggering a bullish rally on the way to hitting another all-time high. Related Reading: Uniswap Coin’s Bullish Trajectory Sets UNI To Breach $7 Level – Time To Buy? SOL total market cap at $9.9 billion on the weekend chart | Featured image from Analytics Insight, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.

Digital Currency, News

Ethereum Bearish Pressure Can Drag ETH Back Down To $1,000 – Here’s Why

Posted on October 22, 2022 By Christian Encila

Ethereum completed its shift from proof-of-work (PoW) to proof-of-stake (PoS) via the highly anticipated “merge” last September 15, 2022. But after more than a month from that historic event, Bitcoin’s closest rival still has nothing to show for as its price flat-lined as it failed to take off despite the hype that surrounded the second largest cryptocurrency before the merge. Ethereum struggles to breach and sustain the $1,300 marker ETH is caught in a pattern that will extend its bearish momentum A bullish run is still possible with $1,400 as the immediate target At press time, according to tracking from Coingecko, Ethereum is trading at $1,297 and while it managed to increase by 3.6% over the last 30 days, it is still nowhere near the level it was expected to be after its blockchain’s transition. The coming days could prove to be more challenging for the digital asset as there’s a possibility it could experience severe price dump. Related Reading: Flow Rolls Out Blockchain Tools As Social Dominance, Coin Price Seen Rising Ethereum Could Be Looking At $1,000 As Support The altcoin’s daily technical chart shows its price established a symmetrical triangle pattern which accelerates prevailing trend movement. In Ethereum’s case, this is not favorable news considering it has been on a consistent decline over the last few weeks. Source: TradingView With its current bearish momentum, ETH could end up being in a steep fall all the way to support range of between $1,200 and $1,000. The asset’s volatility is also high, but this could work either way as it presents an opportunity for an upward break in the trendline that could trigger a price rally up to $1,400. If Ethereum manages to keep $1,400 as a resistance marker and continue with a bullish movement, it could prime itself to test the $1,550 levels. The King Of Altcoins Can Still Surge While some sectors in the crypto space has called the Merge as a dud, Ethereum still has a lot of fight left in it as there is still chance for it to surge and be back in conversations of being at par with Bitcoin. In fact, even if BTC price remains in status quo and consolidates for a while, ETH’s could start its own rally to surge and invalidate the previous bearish thesis about its trajectory. If the conditions are met and Ethereum manages to flip the crucial $1,730 resistance marker, it will revisit the psychological $2,000 level. If that happens, the digital asset will be several steps closer to its all-time high of $4,878 which was attained in November of last year. ETH total market cap at $159.2 billion on the weekend chart | Featured image from Forkast, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.

Digital Currency, News

3 Altcoins That defy Bitcoin Dominance And Continue To Rally – CSPR, TWT, CRV

Posted on October 22, 2022 By jamesobande

CSPR’s price remains strong despite price facing rejection from a high of $0.055 as the price holds above the key support area.  TWT breaks out of a descending triangle as the price looks strong despite Bitcoin (BTC) dragging market prices down.  The price of CRV respects the downtrend line as the price aims to break out of its downtrend price movement.  The crypto market has not had the Uptober that many expected, as the market has continued to range despite showing some great signs of rallying in the early part of the month. Except for a few exceptional coins, such as Casper Network (CSPR), Trust Wallet Token (TWT), and Curve DAO (CRV), have shown strength despite the growing concern for Bitcoin Dominance (BTC.D) as this could affect the price of altcoins when BTC retraces. Here are 3 altcoins that have defied the pull of BTC.D. Related Reading: Arca Firm CEO Believes Crypto Winter Has Reached The End, How True Is That? Casper Network (CSPR) Price Analysis On The Daily Chart Most projects have fared poorly in the bear market, with many experiencing more than 50% price declines, discouraging most traders and investors from stockpiling these assets. With Bitcoin’s dominance (BTC.D) rising and the price of BTC moving in a range, this has affected most crypto projects. The price of CSPR has enjoyed a somewhat good price rally. After dropping to a daily low of $0.03, the price of CSPR rallied to a high of $0.055, reclaiming its key support.  CSPR’s price needs to hold above $0.045, which corresponds to the 200 Exponential Moving Average; a close above this region could push the price to $0.077. Daily resistance for the price of CSPR – $0.077. Weekly support for the price of CSPR – $0.045. Price Analysis Of Trust Wallet Token (TWT) The daily timeframe for the price of TWT has shown resilience as the price continues to maintain its bullish strength after a successful breakout from a descending triangle.  TWT’s price faces resistance at $1.2; the price needs to break this region to rally higher; if the price fails to break this range, we could see the price retesting the support at $1.  Daily resistance for the TWT price – $1.2. Daily support for the TWT price – $1. 3 Altcoins – Price Analysis Of Curve DAO (CRV)  After dropping to a daily low of $0.5, the price of CRV bounced from that area as the price rallied to a high of $1.5 before facing rejection to trend higher. The price of CRV saw rejection as the price continued to range, forming a descending triangle with a possible breakout to a high of $1. Daily resistance for the CRV price – $1.2. Daily support for the CRV price – $0.65. Related Reading: This On-Chain Metric Suggests Bitcoin Not In Danger Of Another Sharp Drawdown Featured Image From zipmex, Charts From Tradingview 

Digital Currency, News

Bitcoin Price Remains Within A Narrow Range, What’s Next For The Bears?

Posted on October 22, 2022 By anushsamal

Bitcoin price has been moving within a restricted range for over a week now. The coin had attempted to move north over the past few days. However, it has not managed to trade near the $20,000 mark. The movement of the Bitcoin price has mainly remained sandwiched between $18,000 and $20,000, respectively. Over the last 24 hours, BTC slipped by 0.4%, confirming that there has not been significant price movement. In the past week, BTC depreciated by 1.1%. Overall market strength has been choppy, which is why market movers have remained dull on their respective price charts. The technical outlook of Bitcoin continued to side with the bears. Buying strength has remained low as a result of a slowdown in demand for Bitcoin. According to its one-day chart, over the next trading sessions, Bitcoin is set to retrace further and trade close to the $18,900 price mark. This support level marks a crucial price level for the coin as it will determine the next move of Bitcoin depending on the demand for the coin. Bitcoin Price Analysis: One-Day Chart BTC was trading at $19,100 at the time of writing. The cryptocurrency has moved up and down within the range of $19,400 and $19,000. Continual movement in a similar pattern will strengthen the bears even further. Overhead resistance for the coin was at $19,600, moving past which BTC will again have a tough time crossing past $20,000. The bulls will only take over from the $20,000 price mark. On the other hand, the nearest support would be $18,900. This is a crucial support line for the coin. A fall from there will cause BTC to move to $18,300 and then to $17,400. The amount of Bitcoin traded in the last session turned green, which could indicate a small rise in buyers. Technical Analysis Demand for the coin has seen a slight increase over the last 24 hours. For most of this month, Bitcoin’s demand has remained low, and sellers have taken over the market. The Relative Strength Index was below the half-line, and that meant a lower number of buyers as compared to sellers on the one-day chart. Bitcoin price was below the 20-SMA line, which also was in accordance with fewer buyers as sellers were driving the price momentum in the market. Related Reading: This On-Chain Metric Suggests Bitcoin Not In Danger Of Another Sharp Drawdown However, BTC still continued to display buy signal on the chart. However, those were declining and would soon be replaced by sell signal. The Moving Average Convergence Divergence shows the price momentum and direction of the asset. MACD still displayed green signal bars, which were buy signal for the coin. The Parabolic SAR also indicates the price direction of the asset. The Parabolic SAR was above the candlesticks, which meant that the price was bearish for the asset. The indicator indicated that the price of Bitcoin was in a downward trend, which could be reversed if demand returned to the chart. Related Reading: Bitcoin Price Still Consolidates, What Could Trigger A Nasty Drop Featured image from UnSplash, Chart: TradingView.com

Digital Currency, News

Polkadot Price Forecast: Is Buying The DOT Dip A Smart Move?

Posted on October 21, 2022 By Alyz

A dip is common in the cryptocurrency market during a bearish downtrend. Most times, it could persist for a prolonged period. The current crypto winter of 2022 has seen the value of many coins drop. Investors are carefully weighing their options and considering if buying the dip is a smart move in the current market. Some investors move their assets to perceived safer ground as they brave the storm. In a price chart, a dip is identified as a valley. For Polkadot, expert predictions are varied on when the coin will eventually make the much-anticipated price comeback. Related Reading: Flow Rolls Out Blockchain Tools As Social Dominance, Coin Price Seen Rising Polkadot is way off its all-time high of $54.98 as of November 2021 to a modest $5.58, which is an exponential drop for the coin.  DOT is unique since the project focuses on parachains that interlink with each other. These parachains are customized project-specific blockchains intertwined with the relay chain of Polkadot. The relay chain – the Polkadot network, secures and connects these parachains in numbers between 100 -250.  Price Forecast For Polkadot The current market trend was also observed with Polkadot since it has been in a bearish reversal for months in 2022.  The price movement for DOT will depend largely on the activity of market forces. With the coin falling below previous support levels of $10.33, investors keep their fingers crossed to see if the bulls will rally. The general market sentiment holds that if Polkadot can break the resistance level of $7, then the bulls are rallying.  However, the strong bearish trend will continue if the price drops below the $5.70 support level. So far, in the year 2022, the price of the coin has been on a gradual decline. Even the parachains felt the effects as Acala USD (aUSD), for instance, lost its peg to the dollar.  Judging from Bitcoin’s dominance, the dip in bitcoins price and dominance is a signal of a possibly prolonged bearish market generally.  To Buy The Dip Or Not? Writing the entire project off as a colossal failure could be quite tempting. However, long-term crypto investors know that the market can suddenly reverse to an uptrend.  With macroeconomic factors like inflation, it is easy to see why the cryptocurrency market is on a downtrend right now. Inflation rates in major countries like the United States have been on the rise amid concerns of a global-scale recession. Also, the Ukraine-Russia conflict has impacted the market negatively. With the US-dollar-pegged stablecoin Terra crashing, the general belief is no project is immune to the grip of market forces. For now, experts believe that buying the dip would favour long-term investors. However, the price could dip further due to the volatility and risk associated with cryptocurrency. Related Reading: Tron Development Activity Grows In The Last 7 Days – Except TRX Price So, it depends on the investor’s strategy and plans. But the general advice is: to buy the dip, use only money you can afford to lose. Price forecasts are mere speculations, and historically, cryptocurrencies frequently deviate from these assumptions. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

Finder’s Panel Predicts 11% Growth For Bitcoin By Year-End

Posted on October 21, 2022 By Best Owie

Finder’s panel has always shared thoughts regarding bitcoin and where they see the price going over the next months, and even years to come. In the last year, there have been some bullish predictions from the panels, but as time has gone on, these experts have begun to adjust their predictions to fit the current market. The most recent of these panels have revealed their thoughts on the digital asset and it is adjusted even lower. 11% Growth By Year-End The Finder’s panel shared their thoughts on where they believe the price of the digital asset will be ending up. According to them, they expect another 11% growth in the price of bitcoin from its current level. This will put BTC at a price of $21,344 by the time 2022 is over. Related Reading: Bitcoin Bottoms: The Psychology Of Bear Markets This is different from the previous predictions from the Finder’s panel through the course of 2021. Back in January 2022, the panel had said that they saw the price of BTC finishing the year at $76,360 by year-end. This would be reduced in April 2022 when the same panel had put the year-end price at $65,185. Another reduction saw them tender a $25,473 forecast for the digital asset back in July. One thing that remains constant is the reduction of the panel’s forecasts as the bear market continues. However, they still continue to maintain that bitcoin will still see an upward momentum towards the end of the year, hence the 11% prediction this time around. BTC price falls below $19,000 | Source: BTUCSD on TradingView.com Bitcoin In The Long Term Like always, the Finder’s panel did not only tender forecasts for the short term but also for the long term. These forecasts tend to span almost a decade, putting prices at where they think they will be at various important dates in the future. In addition to 2022, they also gave price forecasts for the years 2025 and 2030. Even these forecasts saw an upward trajectory, although lower than their previous expectations, keeping in line with the bullish outlook of the panel.  Related Reading: Dogecoin Hash Rate Hits 7-Month High, But What Are Price Expectations? The first, in 2025, they expect the asset to trade at $79,000. In April, this figure was $179,000, and $107,000 in July. The 2030 forecasts were revealed to be $270,000. To put this in perspective, the panel had previously said that BTC would hit $314,000 back in July, and $420,000 back in April.  Despite the varying price predictions, the report showed that 77% of the experts in the panel still believe that bitcoin is a store of value. “Nothing fundamentally has changed for Bitcoin, it’s a global capital crisis, and Bitcoin is affected in a short term but will recover; a lot of other financial assets will not,” said Serhii Zhdanov, CEO of EXMO. Featured image from MARCA, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Digital Currency, News

This On-Chain Metric Suggests Bitcoin Not In Danger Of Another Sharp Drawdown

Posted on October 21, 2022 By Hououin Kyouma

Historical data of an on-chain indicator could suggest Bitcoin may not be in danger of another sharp crash right now. Bitcoin Spot Exchange Depositing Addresses Stay At Very Low Values As pointed out by an analyst in a CryptoQuant post, signs are that another crash similar to Q3 2018 isn’t likely to happen currently. The relevant indicator here is the “spot exchange depositing addresses,” which is a measure of the total number of Bitcoin wallet addresses that are making send transactions to centralized spot exchanges right now. Generally, investors deposit their coins on spot exchanges for selling purposes. Thus, a spike in this metric can be bearish for the price of the crypto as it could be a hint at dumping behavior from a large number of addresses. On the other hand, low values imply not many holders are adding to the selling pressure in the market at the moment. Now, here is a chart that shows the trend in the Bitcoin spot exchange depositing addresses over the last few years: Looks like the value of the metric has been going down in recent months | Source: CryptoQuant As you can see in the above graph, the quant has marked the relevant zones of trend for the Bitcoin spot exchange depositing addresses. It seems like usually around periods where this indicator has sharply risen up to local tops, the price of BTC has also observed a top and subsequently declined. Related Reading: Will Bitcoin Tank Following The Charles Schwab Indicator? Do BTC Investors Need To Worry? Since the bull run top last year, the spot exchange depositing addresses have been overall winding down, seeing only a couple of peaks in the period. Some investors have recently been wondering whether another sharp drawdown is coming for Bitcoin in the near future, just like the one the 2018 bear market saw after months of sideways movement similar to now. Looking at the chart for the trend during the 2017/2018 cycle, it’s apparent that the metric declined following the bull run top and then plateaued at low levels as the bear market went on. Related Reading: Bitcoin Dominance To Regain Control Over Crypto? | BTC.D Analysis October 20, 2022 However, in Q3 2018, the indicator suddenly jumped up. A couple of months or so after this happened, the price observed a crash. As during recent weeks there has been no such sharp increase in the indicator, the analyst believes there is no indication that a decline similar to then would take place now. BTC Price At the time of writing, Bitcoin’s price floats around $18.8k, down 4% in the last week. The value of the crypto seems to have dipped below the $19k level again | Source: BTCUSD on TradingView Featured image from André François McKenzie on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Digital Currency, News

Solana-Based Mango Protocol Suffers $100M+ Exploit

Posted on October 12, 2022 By Taylor Scott

Mango Markets was victim to the latest exploit this week, as crypto cannot seem to escape an absolutely abhorrent Tuesday. Two exploits less than one day apart – and less than a week after the BNB Chain exploit that utilized a bridge to create millions of new BNB. Another nine-figure exploit has rocked the crypto sphere, this time with Solana-based Mango Markets. The protocol faced a massive drain of funds, over $100M worth, after a hacker drained the project through price manipulation and high-dollar leverage. Let’s look at this latest exploit and what we know in the early hours. The Price, Plus Pressure  We’re fresh off the heels of a massive, six-figure exploit of Binance Bridge that resulted in newly minted tokens in the range of $500M in value. While not as high-dollar, news of another million dollar vulnerability in Ethereum-based Temple DAO is less than a day old. The combination with now this latest trio in October alone rings another stark reminder how much of a vital issue both smart contract security and risk management are in this space. The Mango Markets lending protocol was one of the top five largest in TVL on the Solana blockchain, according to data from DefiLlama. Mango Markets (MNGO) protocol was practically drained on Tuesday following an exploit. | Source: MNGO-USD on TradingView.com Related Reading: Ethereum Gains So Much Demand To Buy At $500, Will This Be Possible? Mango Counters, Offers Bounty Mango Markets has advised users not to deposit into the protocol following the exploit, and has asked the hacker to get in contact regarding a bug bounty. Critics have emerged with Discord screenshots from earlier this year that show channel moderators acknowledging concerns about exactly what seemed to have led to Mango’s downfall: massive futures bets against themselves and price manipulation, effectively taking advantage of a low-volume trading token. Meanwhile, in their initial response, Mango has described the action as “oracle price manipulation.” Related Reading: XRP Holds Gains When Almost The Whole Market Turns Into Red Featured image from Pixabay, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.

Digital Currency, News

Bitcoin Plays Ping Pong As Price Continues In A Range, Where Is Price Headed?

Posted on October 12, 2022 By jamesobande

BTC prices continue to trend downwards as prices remain bearish, with price trading on critical support.  BTC trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs.  The price of BTC needs to break and hold above the key resistance of $20,500 to initiate recovery signs for the price.  The price of Bitcoin (BTC) continues to struggle to discover its bullish trend as the price fails to break the key resistance of $20,500 against tether (USDT). Bitcoin (BTC) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the industry, with many producing double-digit gains. (Data from Binance)  Related Reading: ApeCoin Crashes 7% Following SEC Probe Against Yuga Labs Bitcoin (BTC) Price Analysis On The Weekly Chart. Despite many traders and investors speculating on Uptober as BTC has previously shown bullish signs in October, in this case, there seems to be a slight difference as the price of BTC keeps maintaining a downtrend structure. After the price of BTC rallied from a weekly low of $18,800, the price went to a high of $25,000, as many expected the price to form a base or support before continuation to a high of $30,000, but this was never the case. The price of BTC was rejected at $25,000, and the price has since struggled to regain its bullish strength as many traders are anticipating a drop to the region of $18,000 as these zones have been identified as high-demand areas for the price of BTC. ETH currently trades at $19,000, holding its price from falling below the support it has formed at $18,000; a drop below this zone could mean a retest of $17,500 and lower. Although, the price of BTC has lost the support at $19,000 on several occasions as this has been minor support.  Weekly resistance for the price of BTC – $21,000. Weekly support for the price of BTC – $18,000. Price Analysis Of BTC On The Daily (1D) Chart In the daily timeframe, the price of BTC continues to trade below the 50, and 200 Exponential Moving Averages (EMA) as the price continues to range in a descending triangle, with prices struggling to break on either side. The prices of $20,200 and $26,000 correspond to the prices at 50 and 200 EMA acting as resistance for ETH. The price of BTC needs to reclaim $20,500 for the price to look safe; a drop to $18,000 and lower could trigger a retracement to a region of $17,500 due to panic selling with investors and whales waiting for such an opportunity. Daily resistance for the BTC price – $20,500. Daily support for the BTC price – $18,000. Related Reading: Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone Featured Image From Bitcoin Magazine, Charts From Tradingview

Digital Currency, News

Bitcoin (BTC) May Hit $250K, Predicts Morgan Creek Capital Founder

Posted on October 12, 2022 By Alyz

Many believe Bitcoin will bounce back to break the $60,000 price mark. But Mark Yusko seems to have a bigger picture of the token’s future price. Mark Yusko is the CEO, founder, and chief investment officer of Morgan Creek Capital. In his speech, the price of Bitcoin could get to $250,000 in the next five years. One reason for this possibility is that Bitcoin has gone past being a valued token. Unfortunately, many investors fail to see it from this perspective. He revealed this information in an interview held in June 2021. Related Reading: Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone As per the recent industry gossip, Yusko still stands his ground on the future price of Bitcoin. BTC Historical Performance (Halving Events) There’s another way to look at the possibility of Bitcoin’s massive growth in the future, says Yusko. This has to do with its historical performance for every halving event it experiences.  Bitcoin follows a particular trend of adding a zero for each halving event. The halving brought it to $10; after the second, it became $100. The third and fourth halving brought to $1,000 and $10,000, respectively. In light of this, the next possible price of the token will be $100,000. Briefing On Bitcoin Price History Despite the bearish market, it’s clear that Bitcoin has witnessed significant growth from the time of launch till date. In 2013, BTC hit $100 for the first time and rose to $230 on April 8. After several fluctuating movements in its price, it spiked to a short-lived $1,237 price mark in December 2013. 2014 and 2015 were not very eventful for the token as it plunged through 2014. BTC greeted 2015 with a price slightly above $300, though it gradually climbed before the year ran out. It sustained the growth throughout 2016 and ended it at a price of approximately $900. The token’s value kept rising regardless of the ups and downs it witnessed over the years. It eventually hit its all-time high of $68,789 on November 10, 2021, and ended the year at $64,995.  The token price between January and March 2022 started another dipping round. At the end of March, it dropped to below $47,500. Although it maintains a steady up-and-down movement, its price is now down to $19,096, as per data from TradingView. The Trigger For The Next Bull Cycle The investment officer, founder, and CEO of Morgan Creek Capital has also expressed his thoughts about the trigger for the next bull cycle. He revealed this information in an interview on YouTube captioned Thinking Crypto, released on September 22. Related Reading: Here’s Why This Expert Thinks Bitcoin Prices Might Fall In his speech, he believes that the Fed will desist from its quantitative tightening in no distant time. This will trigger a bull run in the global crypto market. Featured image from  Pixabay and chart from TradingView.com

Digital Currency, News

XRP Holds Gains When Almost The Whole Market Turns Into Red

Posted on October 11, 2022 By Alyz

The broader crypto market remains in a bad state regardless of the few positive movements of some tokens. Even popular tokens like Bitcoin and Ethereum do not give investors any hope. This is evident from their current prices of $19,005 and $1,282, respectively, according to data from CoinMarketCap. Multiple factors are backing up the present state of the crypto market. One is the Fed’s quantitative tightening in the Q2 of 2022. While investors have that to contend with, the negative Consumer Price Index (CPI) value released in September has also affected the market. Related Reading: Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone However, the market’s bearish trend may not last long, depending on the upcoming data release. This is particularly true considering the anticipated Consumer Price Index to be released on Thursday. But while the crypto maintains a bearish movement, some tokens appear to stand out in the crowd. A perfect example of picking out is XRP. This digital token seems to have resistance to the ongoing trend of the market. XRP Stands Out Amid Bearish Market The current price of XRP, as per data from TradingView, is $0.4875. Although its 24-hour price change on CoinMarketCap stands at -6.37%, its weekly and hourly rates are -0.10% and 0.01%, respectively. XRP seems to have maintained this positive movement in the last seven days, and chances are that it’ll sustain the trend for a while. In the meantime, the trading volume of XRP in 24 hours is approximately $2.55 billion. Its price position is now in sixth place based on CoinMarketCap’s ranking, and it holds a market cap of over $24.40 billion.  Although the XRP token has witnessed some tough times, it still maintains its popularity. Many investors, both retail and institutional, carry out their various transactions using the token. Moreover, experts have already predicted that XRP will maintain a price level above the $1 price mark in the future. The Factor Behind XRP’s Growth Multiple factors contribute to the success of the XRP token, including the power behind RippleNet transactions. Aside from this fact, the market sentiment, rising whales’ activity, and listing updates are major factors contributing to its growth. Related Reading: Here’s Why SUSHI Is Down More Than 10% In The Last 24 Hours XRP whales seem to have increased over the years. With this increase comes a high purchase of the token. In the past 24 hours, more than 270 million XRP tokens have been transmitted between several digital currency exchanges. As per data from Whale Alert, this is worth more than $130.2 million. Moreover, as Bitcoin becomes less affordable for some investors, XRP becomes their best alternative. The constant activity with the digital token remains a major driving force in the crypto market. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

Bitcoin Mining Difficulty Adjustment May Force Miners To Dump Their BTC

Posted on October 11, 2022 By Best Owie

Last week, the bitcoin hashrate touched a new all-time high after tremendous growth. While this was a welcome development, it had significant implications for the next mining difficulty adjustment which took place on Monday. As expected, the difficulty adjustment had jumped by double-digits, beating even the highest of forecasts. Difficulty Adjusts By 13.5% Over the last week, the forecasts for the bitcoin mining difficulty adjustment put it at a high of Related Reading: LUNC Community Clamors For Coinbase Listing, Can It Reach $1? 9-12%. These ranged from the conservative side to the worst-case scenario, but either way would see the network mark the highest difficulty adjustment so far for the year 2022. However, even these predictions did not do justice to the actual adjustment.   On Monday, the mining difficulty (how many hashes it takes to mine a BTC block) jumped from 31.36T to 35.61T, a 13.5% increase. This higher difficulty adjustment is in line with the increasing mining power as more bitcoin miners bring their machines online. Mining difficulty adjusts by 13.5% | Source: Coinwarz Interestingly, the bitcoin mining difficulty is not expected to ease up anytime soon. The next difficulty adjustment will take place on Sunday, October 23, 2022, with another expected increase of 11.3%. In the next three months, the mining difficulty is expected to increase by 22.5%. As for the bitcoin hashrate, it has seen some decline since it hit its all-time high of 321 EH/s. It is currently sitting at 291.4 EH/s at the time of this writing, a high number for the year 2022. Will Bitcoin Miners Dump BTC? The high difficulty adjustment will no doubt impact bitcoin miner profits during this time. This means that they would have to dispatch more computing power and more energy to mine a block, which affects their bottom line. Add in the fact that the bitcoin price is struggling to maintain above $19,000, and miners are sitting in a tight spot. BTC settles above $19,000 | Source: BTCUSD on TradingView.com Since the start of the year, there have been times when some bitcoin miners have been forced to dump their BTC holdings to fund their operations and this adjustment could trigger another sell-off trend among them. Since it costs them a little over $18,000 to mine a single BTC, bitcoin’s tapdance below $19,000 put them dangerously close to recording losses on their mining machines, which could lead to sell-offs. Related Reading: Ethereum Marks Highest Growth Day In 2022, Will ETH Price Follow? Bitcoin miner revenues are currently sitting at $17.16 million per day. With 6.25 BTC mined at an average of 10 minutes, miners are producing a total of 900 BTC each day. Featured image from Bloomberg, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…  

Digital Currency, News

Ethereum Gains So Much Demand To Buy At $500, Will This Be Possible?

Posted on October 11, 2022 By jamesobande

ETH prices continue to trend downwards as prices remain bearish, with price trading on critical support.  ETH trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs as many traders and investors wish for $500.  The price of ETH needs to break and hold above the key resistance of $1,400 to initiate recovery signs for the price.  The price of Ethereum (ETH) continues to struggle to discover its bullish trend before the “Ethereum Merge” as the price fails to break the key resistance of $1,400 against tether (USDT). Ethereum (ETH) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the industry, with many producing double-digit gains. (Data from Binance)  Related Reading: Glassnode On Bitcoin Mining: Difficulty Reaches ATH, Profitability Decreases Ethereum (ETH) Price Analysis On The Weekly Chart. Life after post “Ethereum Merge” has not been easy for the Ethereum price, with many traders and investors expecting a rally to a region of $5,000. Despite showing some great price movement in recent weeks, the price of ETH has continued to maintain a downtrend as it faces a crucial test to hold above $1,200 or defer the odds and go lower. After the price of ETH rallied from a weekly low of $900, the price went to a high of $2,013, as many expected the price to form a base or support before continuation ahead of the scheduled merge. The price of ETH was rejected at $2,013, and the price has since struggled to regain its bullish strength as many traders are anticipating a drop to the region of $700-$500 as these zones have been identified as high-demand areas for the price of ETH. ETH currently trades at $1,290, holding its price from falling below the support it has formed at $1,270-$1,200; a drop below this zone could mean a retest of $1000-$900 region again. Weekly resistance for the price of ETH – $1,400. Weekly support for the price of ETH – $1,270-$1,200. Price Analysis Of ETH On The Daily (1D) Chart In the daily timeframe, the price of ETH continues to trade below the 50, and 200 Exponential Moving Average (EMA) as the price continues to range in a channel with price struggling to break in either side. The prices of $1,424 and $1,800 correspond to the prices at 50 and 200 EMA acting as resistance for ETH. The price of ETH needs to reclaim $1,400 for the price to look safe; a drop to $900 could trigger a more retracement to a region of $700-$500 due to panic selling with investors and whales waiting for such a juicy price. Daily resistance for the ETH price – $1,424. Daily support for the ETH price – $1,270-$1,200. Related Reading: Here’s Why SUSHI Is Down More Than 10% In The Last 24 Hours Featured Image From NullTX, Charts From Tradingview

Digital Currency, News

The End of Bitcoin Woes? BTCUSD Analysis October 11, 2022

Posted on October 11, 2022 By Tony Spilotro

In this episode of NewsBTC’s daily technical analysis videos, we examine a possible bottoming scenario in Bitcoin price based on a potential expanded flat correction and an ending diagonal.
Take a look at the video below:
VIDEO: Bitcoin Price Ana…

Digital Currency, News

Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone

Posted on October 11, 2022 By Hououin Kyouma

Data shows the Bitcoin supply in profit has continued its decline, but the metric has still not reached levels as low as the previous bear market bottoms. Around 50% Of The Bitcoin Supply Is In Profit At The Moment According to the latest weekly report from Glassnode, the current profitability levels in the BTC market are still above the 40%-42% values that were observed during historical bottoms. The “percent supply in profit” is an indicator that measures the total percentage of the Bitcoin supply that’s currently holding some unrealized profit. The metric works by checking the on-chain history of each coin in the circulating supply to see what price it was last moved at. If for any coin this previous price was less than the current BTC value, then that particular coin is in some profit at the moment, and the indicator accounts for it. Now, here is a chart that shows the trend in the 7-day moving average Bitcoin percent supply in profit since the January of 2014: The 7-day MA value of the metric seems to have been declining in recent days | Source: Glassnode’s The Week Onchain – Week 41, 2022 As you can see in the above graph, the historical zones of the Bitcoin percent supply in profit for previous bear markets are highlighted. It looks like whenever the metric has sunk below the 50% mark, the price of the crypto has observed cyclical lows. Related Reading: Bitcoin Volatility Index Suggests Large Price Move Arriving Soon More specifically, the indicator’s value was round 40%-41% in the 2014-15 bear, while it was 41%-42% during the 2018-19 bear. The COVID crash saw the profit in supply reaching a 47% mark, but since the event wasn’t part of a normal cycle, the relatively higher level during this low may not be as relevant. In the current 2021-22 bear market, the indicator has been declining, but has only made a slight touch of the historical bottom zone so far as its value is around 50% currently. Related Reading: Elrond eGold (EGLD) And Bitcoin (BTC) Under Resistance As The Hideaways (HDWY) Moons If the 40% to 42% supply in profit target for the cyclical low from the previous bear markets holds this time as well, then Bitcoin’s current profitability is still around 10% higher. This would suggest that the crypto may have to go through another flush of unrealized profits before the sellers are exhausted and the bear bottom is in. BTC Price At the time of writing, Bitcoin’s price floats around $18.9k, down 6% in the last week. Over the past month, the crypto has lost 12% in value. Looks like the price of the coin has been slowly heading downhill since a few days ago | Source: BTCUSD on TradingView Featured image from Natarajan sethuramalingam on Unsplash.com, charts from TradingView.com, Glassnode.com

Digital Currency, News

Here’s Why This Expert Thinks Bitcoin Prices Might Fall

Posted on October 11, 2022 By Denis

The data on Bitcoin price movement shows that it has been struggling. Bitcoin has infrequently gone down to the $18K price in the past three weeks. It mostly maintained the $19K price level in the past week. It reclaimed the $20K mark on Tuesday last week but returned to its key level. As of Friday, it was trading at a price just above $19K. Related Reading: Glassnode Report Shows Bitcoin And Ethereum Derivatives Gain Massive Traction Although the price of Bitcoin has been low, its price movements have been quite steady. The same cannot be said about the majority of other digital assets. The broader crypto market remains uncertain even as investors battle with increasing inflation. Tighter monetary policy by the Federal Reserve and geopolitical crises are other areas of concern for many investors. Detail On BTC Price In the last 30 days, the largest cryptocurrency has remained around the $20K price level. According to experts, this might not be the end of the crash in its price. A report revealed that a price movement warning indicator, Bollinger bandwidth, has gone to its narrowest point. Experts compared the present data from the bandwidth to that of 2020 to discover a 5-time narrowed movement. Only 1 time, out of the 5, a surge was recorded was its all-time high of $69K in October last year. The remaining 4 times revealed that BTC has dipped by about 16% in the past 20 days. A swing can probably occur from the present position of BTC. Chances are that this could be a further drop in its price, as per experts’ viewpoint from the narrow Bollinger bandwidth. Investors still feel uneasy about the crypto market, considering the historic collapse of the native token of Terra LUNA. Besides, the general crypto market is currently trading at a high volatility state in response to the regular market. Will Bitcoin Recover Soon? The number of available Bitcoin presently is 2.33 million, which is its 4-year low, according to Glassnode. In the meantime, around $2 trillion is already lost in the global market capitalization dating from November 2021 till now. Related Reading: Glassnode: Bitcoin Is Currently In “Bear To Bull” Transition Period Bitcoin has dipped by about 60% in the last year and 1% in the past 1 day. This movement brings its price to approximately $19,500. There’s still a need to watch the market for a possible reversal. Although the chances are slim, experts suggest that the market could witness a bullish turn in no distant time. All it takes to change Bitcoin’s trading range bottom end is a single piece of news about digital currency regulation. Meanwhile, the general crypto market still anticipates the release of the United States inflation date slated for October 13. Featured Image from Pixabay, Charts by TradingView

Digital Currency, News

ApeCoin Crashes 7% Following SEC Probe Against Yuga Labs

Posted on October 11, 2022 By Reynaldo Marquez

ApeCoin (APE) is trending to the downside as the U.S. Securities and Exchange Commission (SEC) announces an investigation against its parent company, Yuga Labs. The creators of popular non-fungible token (NFT) collections, including Bored Ape Yacht Club (BAYC), the regulator will look into a potential violation of their securities laws. Related Reading: Here’s Why SUSHI Is Down More Than 10% In The Last 24 Hours  According to a report from Bloomberg, the Commission will investigate the “affinity” of the digital assets minted and promoted by Yuga Labs and the possibility that these NFTs are “more akin to stocks”. This would place the crypto company in an alleged violation of U.S. federal law. The report quotes a source familiar with the matter, this individual also claims that the investigation will extend to ApeCoin, the native token that supports ApeCoin DAO governance model offering its users access to a staking mechanism. Via this token, holders can make decisions related to the project. APE was launched as part of an initiative to provide BAYC investors with more voice and power over the project via the ApeCoin DAO. Via social media, many users are expressing concern about the future of the DAO and its staking mechanism leading to the crash in the price of the token. In a statement to Bloomberg, a representative for Yuga Labs stated: It’s well-known that policymakers and regulators have sought to learn more about the novel world of web3. We hope to partner with the rest of the industry and regulators to define and shape the burgeoning ecosystem. As a leader in the space, Yuga is committed to fully cooperating with any inquiries along the way. ApeCoin And Yuga Labs Fall Into SEC Scrutiny A probe can escalate from the Commission against Yuga Labs, such as pursuing a legal case. However, not every probe leads to legal action. Under the leadership of Gary Gensler, the SEC has been targeting crypto-related activity. On several occasions, the current SEC Chair has compared crypto with the “Wild West” and has classified “most of the crypto” as potential securities. Bitcoin is the only exception that Gensler seems willing to admit publicly. Over the past months, SEC enforcement actions against crypto projects have increased. The Commission seems to be targeting major and very well know entities, such as Yuga Labs and their projects BAYC and ApeCoin, socialite Kim Kardashian, and others. Their current biggest case involves payment company Ripple and the alleged offering of an unregulated security, XRP. According to a report from FOX, some SEC staff believe the Commission is pushing this lawsuit for the personal benefit of Gary Gensler and his desire to be nominated for Secretary of Treasury. Related Reading: No Pivot In Sight: Why Bitcoin Could See More Pain As Inflation Strengthens The Commission is allegedly understaffed and pushing many to seek employment elsewhere as they disagree with Gensler’s management style and complaint about long working hours. At the time of writing, there is no statement from Yuga Labs regarding the probe. SCOOP (1/3): @SEC_Enforcement staffers are complaining @GaryGensler violated protocol by hyping @KimKardashian settlement, appearing on @CNBC within minutes of the case being announced, people w direct knowledge tell @FoxBusiness. They are calling it a “publicity stunt” — Charles Gasparino (@CGasparino) October 5, 2022 

Digital Currency, News

XRP Takes The Lead Among Altcoins – Will It Drop Before Climbing?

Posted on October 11, 2022 By Denis

XRP has maintained a daily calmness but emerged as the week’s top performer. The token took to the north with 18% weekly gains as the price crossed the $0.5 mark before falling. Also, other altcoins have been making slight losses daily in the past week. The crypto market is witnessing a drastic twist in the overall movement of prices. In the past few weeks, the crypto assets have been going on and off in both north and south directions. However, after reclaiming slightly during last week, most of the crypto coins lost almost all they had gained during the weekend. Bitcoin has been struggling to push upward in the past 24 hours. This was after the primary crypto asset lost its anchor on the critical level of $20K. BTC is almost going below the $19K region with more bearish force in the market. Related Reading: Bitcoin Whale Ratio Surges Up As Leverage Remains High XRP Takes The Win For This Week The weekend is not favorable for the majority of crypto assets. The market saw low trading volumes from Saturday, which spilled into Sunday. As a result, most altcoins have been calm, with minor dips in their values. XRP emerged as the winner with gains of 18% over the past week. Its performance stands as the best among the large-cap altcoins. With the sudden breakout in price, the token has finally crossed its coveted 0.5 mark. The second largest crypto asset, Ethereum, plummeted in the early trading hours. The price of ETH is hovering below $1,300. Other altcoins like Solana (SOL), Polygon (MATIC), and Polkadot (DOT) have the same records. On a daily measurement, Cardano, Shiba Inu, BNB, and Dogecoin dipped significantly by about 2.5%. QNT, which bagged the best performer for yesterday, has also plummeted. Bitcoin Now Hovers Around $19K Region Bitcoin has had a complex story with its performance recently. The primary crypto is currently hovering around the $19K region, and there are doubts that it will receive more support. In addition, the recent release of the US job report had a bearish effect on Bitcoin, which lost almost $1,000 following the announcement. Related Reading: Bitcoin Struggles To Retain The $20,000 Mark While ENS Protocol Gains Last week, BTC hit its three-week high of $20,500. But, it gradually started a south movement to $20,000. The largest global crypto asset stalled at this critical region for some days before moving south again. At the time of writing, BTC is trading at around $19,238, showing an increase over the past 24 hours. Featured image from Pixabay, charts from TradingView.com

Digital Currency, News

Avalanche Sits On A Time Bomb As Price Eyes $10, Will Price Escape This?

Posted on October 11, 2022 By jamesobande

AVAX price continues to trend downwards as price remains bearish with price trading on key support.  AVAX trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs.  The price of AVAX needs to break and hold above the key resistance of $30 to resume bullish price movement.  The price of Avalanche (AVAX) continues to struggle to discover its bullish trend as the price fails to break the key resistance of $30 against tether (USDT). The previous weeks saw the crypto market cap as good as Bitcoin (BTC) prices and other crypto assets. Still, the price of Avalanche (AVAX) continues to struggle to join the green party as the price continues in its downtrend movement. (Data from Binance)  Related Reading: Why SHIB Price Lost Its Bullish Energy After Shiba Eternity Games’ Release Avalanche (AVAX) Price Analysis On The Weekly Chart. Despite showing some great price movement in recent weeks with so many traders and investors becoming interested in the different projects being built on the Avalanche ecosystem, which could have been a huge boost for the price to trend higher but that wasn’t the case the price has struggled to trend higher than $30.  After the price of AVAX dropped to a weekly low of $15, the price rallied from this low to a high of $30, where the price faced resistance to breaking above this region to a height of $50 as the price was rejected and has since maintained a bearish price movement. The price of AVAX bounced from $18 haven faced rejection from $22, but the price could not trend higher as the price continued to trend in a downtrend. If the price of AVAX continues in this trend, we could see the price retesting support area at $10. Weekly resistance for the price of AVAX – $21. Weekly support for the price of AVAX – $15. Price Analysis Of AVAX On The Daily (1D) Chart In the daily timeframe, the price of AVAX continues to trade above key support formed in recent weeks when the price dropped from a region of $45 to a daily low of $15.  The price of AVAX continued in its downtrend, moving in a range as the price has formed a descending triangle with what looks like a break out to the upside could be imminent. The price of AVAX needs to rally away from key support to avoid price dropping to a low of $10 if the price breaks to the downside of the descending triangle.  The relative strength index for the price of AVAX on the daily chart shows the price being dominated by sell orders as the mark is below 50. Daily resistance for the AVAX price – $18. Daily support for the AVAX price – $15. Related Reading: TA: Bitcoin Price Slides Below Key Support Amid Russia-Ukraine War Escalation Featured Image From The Coin Republic, Charts From Tradingview

Digital Currency, News

Glassnode On Bitcoin Mining: Difficulty Reaches ATH, Profitability Decreases

Posted on October 11, 2022 By Eduardo Próspero

The latest Glassnode report focuses on the topic of the day: bitcoin mining. While bitcoin’s price has been suspiciously flat for a while, the difficulty adjustment came in and registered an all-time high. Do the miners know something we don’t? Or is there a transfer of power going on behind the scenes? Glassnode poses a working theory on their latest The Week On-Chain. To begin with, Glassnode puts the difficulty adjustment into perspective: “Bitcoin hashrate has reached a new all-time-high of 242 Exahash per second. To give an analogy for scale, this is equivalent to all 7.753 Billion people on earth, each completing a SHA-256 hash calculation approximately 30 Billion times every second.” The thing is, we’re in a bear market. The sentiment is fearful. There’s trouble brewing everywhere in the world and bitcoin has been boring for a while now. What could be the reason for a hashrate all-time high? Is it, as Glassnode theorizes, “a new dynamic as more of the hashpower is held by better capitalised publicly traded mining companies”? Or is it just the game theory behind bitcoin at work? Remember that mining revenue is also down and the cost to produce one bitcoin is going up in tandem with electricity prices.  Related Reading: Glassnode: Bitcoin Is Currently In “Bear To Bull” Transition Period Making the situation more volatile, the miner revenue’s bitcoin is at a low point. This “should, in theory, create elevated income stress on the mining industry.” Add bitcoin’s stable prices to that equation and, what do we have? “It is extremely rare for BTC prices to stay so stationary for long, suggesting heightened probabilities of volatility on the horizon.” Bitcoin Hashrate All-Time High | Source: The Week On-Chain Bullish Signal: Bitcoin Hash-Ribbons Unwind According to Glassnode, “the Bitcoin hash-ribbons commenced an unwind in late August, providing an indication that mining conditions were improving, and hashrate was coming back online.” What does this mean and why is it bullish, though? “Almost all historical hash-ribbon unwinds have preceded greener pastures in the months that followed.” According to Glassnode, since bitcoin’s price is still flatlining, the “hashrate rise is due to more efficient mining hardware coming online and/or miners with superior balance sheets having a larger share of the hashpower network.” That’s the base of Glassnode’s takeover theory. Glassnode Proposes “The Mining Halving” Concept Another of their wild theories, Glassnode poses that “a 66% increase in Difficulty and Hashrate since Oct-2020 corresponds to an approximate halving in revenue per hash.” And to support that, they provide these numbers: “the revenue earned per Exahash has been in a persistent and long-term downtrend, with the BTC-denominated reward currently at an all-time-low of 4.06 BTC per EH per day.” So, if miners are getting destroyed by market conditions, why is the hashrate recording all-time highs? The answer might lie with the Puell Multiple, “which is a cyclical oscillator that compares the current daily mining revenue to their yearly average.” According to this indicator, the mining business is actually gaining ground against previous performance.  “The Puell Multiple hit the current lows of around 0.33 in June, indicating that miners were earning just 33% of their yearly average revenue. It has since recovered to around 0.63, implying a degree of stress relief, and adjustment to this new pricing regime.” According to Glassnode, this relief might mean that “a true bear market low is established.” BTC price chart for 10/11/2022 on Bitstamp | Source: BTC/USD on TradingView.com Glassnode Thinks There’s Still Capitulation Risk Let’s be clear, bitcoin is walking a tightrope at the moment. The market is about to break and the pendulum could swing either way. Even though there are reasons to be optimistic, the smart investor should prepare for the worst. “By numerous models, we estimate that the average cost of BTC production hovers just below current prices, such that any significant price decline could turn an implied income stress, into acute and explicit stress.” Related Reading: Glassnode Report Shows Bitcoin And Ethereum Derivatives Gain Massive Traction To assess the risk, Glassnode determined “the aggregate size of miner balances” to 78.4K BTC. The owners of those reserves “may come under income stress,” but “It is extremely unlikely this full amount would be distributed.” And that’s where we stand at the moment. Featured Image by Icons8_team from Pixabay | Charts by TradingView and The Week On-Chain

Digital Currency, News

Why SHIB Price Lost Its Bullish Energy After Shiba Eternity Games’ Release

Posted on October 11, 2022 By Christian Encila

SHIB, along with the greater majority of the crypto space, stared at price dips for the last 24 hours with the asset declining by 7.7%. Shiba Inu seen growing five times towards the end of October after Shiba Eternity release SHIB down 8.8% for the past seven days Shiba Inu headed for another bearish momentum The 13th largest cryptocurrency having a total market capitalization of $5.9 billion currently trades at $0.00001019 according to tracking from Coingecko. The dog-themed altcoin akin to Dogecoin has now lost 8.8% of its price for the past seven days and is on a position that is far from what was expected of it after the release of the Shiba Eternity game. Following the development, Shiba Inu was forecasted to have a bullish rally and immediately grow 3x in terms of trading price. Not only that, the asset was also predicted to increase in value as it changes hands five-fold. But the recent decline made some crypto enthusiasts wonder why SHIB price lost its energy after Shiba Eternity games’ release. Related Reading: Quant Price Watch: Crypto Looking At 20% Rally This Week With This Pattern Shiba Eternity – How It Impacts SHIB Price SHIB failed to leverage the release of one of the highly anticipated games in crypto space this year to help it move out of its slump and bearish momentum. But one should take into consideration that “Eternity” is a newly introduced one and might not yet have the ability to command great demand for the SHIB community. It will take some time for it to command significant demand and token burns – two factors that could help Shiba Inu finally have its bullish run. As great as the hype it created was, excitement died down as soon as the game became available. The token’s performance once again put doubt among those that were hopeful for an upward trend. Right now, as the crypto is down once again, SHIB investors should look out for these signs before Shiba Inu’s next big move. SHIB: On Sentiments And Price At the time of writing, data from Santiment reveals the weighted sentiment for SHIB is on the negative territory again, just as its price was back on a decline. The 90-day mean coin age is also experiencing a continuous drop, moving towards the lower part of the four-week range. This movement indicates another bearish run for Dogecoin’s fellow meme crypto. Investors who have bought SHIB within the last three months are selling their holdings, increasing the selling pressure that upended any bullish volume that the asset is banking on. Source: Santiment Additionally, mega accounts that are home to trillions of coins have also been selling and offloading their coins. With this, SHIB investors should expect bullish movement of the crypto asset once the selling pressure drops significantly. Also, they can also wait for the Shiba Eternity game to mature a bit and have the capacity to command large token demand and hope that this will propel SHIB price to new heights once again. Related Reading: Terra Classic Notches 5% Spike In Last 24 Hours – Can LUNC Maintain Positive Momentum? SHIB market cap at $5.7 billion | Featured image from BSC News, Chart: TradingView.com

Digital Currency, News

Terra Classic Notches 5% Spike In Last 24 Hours – Can LUNC Maintain Positive Momentum?

Posted on October 11, 2022 By Christian Encila

Terra Classic is showing some signs of life thanks to a system that is being implemented by leading cryptocurrency exchange platform, Binance. Binance burns another 3 billion LUNC, brings total of burned units to 17.9 billion LUNC briefly exhibits upward price rally, up by 5% in the past 24 hours at one point A 12% dip might bring Terra Classic price all the way to $0.00018 It can be recalled that on September 26, 2022, the company decided to burn all spot and margin trading fees on LUNC transactions by sending them to a specific wallet address. This was Binance’s response to the proposal of the Terra Classic community to maintain good trading experience for its users. Since then, around 17.9 billion LUNC tokens have been burned. The latest process initiated by the crypto exchange led to the destruction of 3 billion units of the crypto. There was an apparent positive response to this development, as Terra Classic notches 5% spike in the last 24 hours. But can LUNC step up and gain more? Not A Smooth Sailing For Terra Classic It would appear the digital token failed to capitalize on what is now considered short-lived gain following another massive burning courtesy of Binance. LUNC rice is now eyeing a 12% discount and investors are now wondering if they should buy the dip. At press time, according to tracking from Coincodex, LUNC is changing hands at $0.000277 and is now down by 7.55% for the past 24-hours as it quickly relinquished its 5% spike earlier. Related Reading: Quant Price Watch: Crypto Looking At 20% Rally This Week With This Pattern Source: TradingView The recent Binance burn activity made buyers busy as they exerted effort in trying to rally the asset to continue its price recovery and close in on the $0.00036 resistance level. Sellers, however, were quick to make their counter move by putting a lot of selling pressure. As a result, the LUNC coin once again exhibited bearish signals. The crypto could be looking at a 12% drop all the way to the $0.000271-$0.00026 demand zone. Failure to hold this level would mean significant price slashing, putting the asset’s trading price to $0.00018. LUNC’s Lingering Struggles Over the past year, Terra Classic dealt with a lot of struggle. Aside from the given fact that it has been outperformed by heavyweights Bitcoin and Ethereum, it has also been outperformed by all of the top 100 crypto assets. It has also lost 100% of its all-time high value of $119.01 that was attained on April 5 this year and is sitting on a yearly inflation rate that is 1,534,969.16%. Its investors are currently pinning their hopes on the idea that LUNC is trading on Binance and is oversold and thus may rise soon. However, if the current burning mechanism being implemented by the crypto exchange doesn’t successfully push the token’s price, investors might start to move away from it no matter how much discount there is. Related Reading: Solana Shines In Trending Searches In Last 7 Days – But SOL Price A Different Story LUNC market cap at $1.7 billion | Featured image from Criptokio, Chart: TradingView.com

Digital Currency, News

Ethereum Price Plunge To $1,150 On The Horizon As Bulls Show Weak Hands

Posted on October 11, 2022 By Aayush Jindal

Ethereum declined below the $1,300 support against the US Dollar. ETH is showing bearish signs and there is a risk of a more losses towards $1,200 or even $1,150.

Ethereum started a fresh decline below the $1,350 and $1,320 support levels.
The price i…

Digital Currency, News

Brazilian Tax Authority Records 12,000 Institutional Crypto Holdings

Posted on October 11, 2022 By Sarah

Crypto is becoming mainstream in Brazil, with 7.8% of the country’s population (about 16 million people) owning cryptocurrency. As a result, exchanges such as Binance, Crypto.com, and Coinbase are soaring in Brazil. Brazil is becoming the primary crypto market of Latin America as records show over 12,000 Brazilian companies have crypto holdings. Brazilian Tax authority released August figures showing the highest number of holdings ever recorded. In addition, amid high inflation rates in the country, cryptocurrencies saw increased adoption in August. Related Reading: LUNC Community Clamors For Coinbase Listing, Can It Reach $1? According to reports, Receita Federal do Brazil (RFB) recorded 12,053 companies that declared crypto in the balance sheet in August 2022. From the RFB release, Bitcoin is the highest among the crypto holdings, with Tether stablecoin tailing closely after BTC. In addition, the August numbers are the highest so far, with a 6.1% increase from the July number of 11,360. Rundown Of Brazil’s August Crypto Transaction Records While the number of institutional investors increased, individual crypto investment reduced from July to 1.3 million in August. However, the total number of holdings reduced, with August showing $2.1 billion, which may be due to the current bear market. Tether stablecoin USDT got the highest transaction volume, with over $1.42 billion moved across 80,000 transactions in August. This value is approximately $17,500 per transaction on average. BTC followed closely behind Tether with nearly $270 million in transactions and the highest volume of over 2.1 million in August. But BTC had a lower average transaction of $130 than Tether. The Stablecoin USDC fell from third place to fifth in value transacted from July to August. USDC lost to Tether and Brazilian Digital Token (BRZ). BRZ is a real-pegged ERC-20 token. Brazilians Maintain High Trust On Digital Assets Bitstamp Crypto Pulse reports that Brazilians maintain a bullish stance on cryptocurrency, with 77% declaring their trust in digital assets in September. In addition, several financial companies in Brazil, such as XP Inc. and PicPay, have begun to offer crypto services. Both PicPay and XP Inc. integrated crypto exchange services in August. Related Reading: XRP Price Hits Target Of $0.5, But Can It Break This Key Resistance? Furthermore, Binance has increased its operations in Brazil, doubling its steam in March, and opened two new offices on October 4. With the increased mainstream crypto adoption, Binance is looking to spread its net and tap into the emerging market. Recently, Binance announced two new offices in Sao Paulo and Rio de Janeiro, with over 150 employees to cover operations. The crypto exchange also operates with the approval of Brazilian Regulations. The increasing crypto adoption in Brazil could be due to the macroeconomic situation in the country. In April, inflation rates in Brazil saw a 12.1% increase, the highest in 26 years. However, the latest Data from the Statistics Agency in Brazil shows the rates have gone down to 8.7% in August. Featured Image From Pixabay, Charts From Tradingview

Digital Currency, News

TA: Bitcoin Price Slides Below Key Support Amid Russia-Ukraine War Escalation

Posted on October 11, 2022 By Aayush Jindal

Bitcoin price is slowly moving lower below the $19,200 support against the US Dollar. BTC could slide further if there is further escalation in Russia-Ukraine war situation.

Bitcoin is slowly moving lower below the $19,200 and $19,000 levels.
The pric…

Digital Currency, News

Supply And Demand Zone: All You Need To Know About Trading In The Zones

Posted on October 11, 2022 By jamesobande

Trading crypto in the bear market is one of the toughest times for most traders, including advanced traders, but as the saying usually goes, the bear market produces the best of traders, and millionaires are born. Trading with the right skills and implementing your strategy to the very least is like exposing yourself to risk that could cost your life but, in this case, your trading portfolio.  Having the right psychology, patience, and trading with the right strategies gives you an edge over huge investors and institutions. Most traders and investors look for strategies with the best profitability and result, thereby increasing their earning potential. Most technical analysis strategies, when combined appropriately, yield huge success. Let us discuss how the supply and demand zone as a strategy is used by institutions to enable them to trade with the best possible outcome. We will also see how to combine the supply and demand zone with other trading strategies. Related Reading: LUNC Community Clamors For Coinbase Listing, Can It Reach $1? What Is Supply And Demand Areas  It is key to understanding that the market always moves in cycles, and getting a hang around this concept allows you as a trader to trade and best position yourself to get the best result out of the market. There are four common market cycles or market structures that traders should know. They are the uptrend, downtrend, accumulation, and distribution phases.  The concept of demand and supply revolves around the different market structures the market forms after some time.  The supply zone is the price area or zone where sellers are more dominant and want to sell an asset at a considerable price, thereby preventing the price from going higher. The demand zone is the price area or zone where buyers are more dominant and want to buy an asset at a considerable price, thereby preventing the price from going lower. How To Identify Supply And Demand Zones Supply and demand zones can be easily identified by looking at the chart, as they are not difficult to find. Here is a simple step to find either supply or demand zones. Examine the chart for consecutive large consecutive candles. The price must move rapidly. Determine the base (usually a sideways price action area) from which the quick move began. How To Trade Supply And Demand Zones With Pin Bar Pattern One of the most highly used patterns in trading is the pin bar pattern, used to spot potential price reversal from an uptrend or a downtrend. Let us discuss how this pattern with the supply and demand area is highly effective. From the chart above, the formation of a demand area with pin bar patterns indicates a potential price reversal to the uptrend, confirmed by the price moving upward. Related Reading: XRP Price Hits Target Of $0.5, But Can It Break This Key Resistance? Featured Image From zipmex, Charts From Tradingview

Digital Currency, News

LUNC Community Clamors For Coinbase Listing, Can It Reach $1?

Posted on October 10, 2022 By Best Owie

LUNA Classic (LUNC) is still going strong despite losing more than 99.99% of its value during the market crash. It now also boasts one of the strongest and most active crypto communities on social media, which have now taken their combined power towards getting the coin listed on large exchanges. This time around, the community has turned its attention to Coinbase. Calls To List On Coinbase The calls from the LUNC community to list the digital asset on Coinbase have been intensifying in the last week. It goes along with the calls for another trading platform, Robinhood, to list the token. If this approach sounds familiar, it is because this was the same thing done by the Shiba Inu community to get the meme coin listed on large exchanges.  Related Reading: Ethereum OI Hits $7.7 Billion, Why A Rally Might Be In The Works Following in the same footsteps of the SHIB community, LUNC community members have created a petition for the crypto exchange to list the token. As of the time of this writing, the petition already has a little under 3,000 signatures. Calls for Coinbase to list LUNC have also dominated the digital asset’s social media mentions during this time. The cryptocurrency has previously gotten massive support from the largest crypto exchange in the world, Binance, which has committed to burning all fees realized from LUNC trading every Monday. Last week. Binance burned $1.8 million worth of tokens. LUNC price retraces to $0.0003 | Source: LUNCUSD on TradingView.com The call for Coinbase to list the digital asset is to help its value which has struggled since the crash. Such a listing has been known to propel the prices of digital assets upward due to the amount of demand it drives. Will LUNC Reach $1? As mentioned above, the LUNC community is hoping to bolster the price of the digital asset with a listing on the crypto exchange, presumably towards the “LUNC to $1” goal that is echoed throughout the community. However, it is improbable that the price of LUNC will reach this point. The answer to whether the price of the digital asset will ever touch $1 lies in its total supply. With the collapse of the Terra Classic network, trillions of new tokens had been brought into circulation. At the time of this writing, the total supply of LUNC sits at 6.15 trillion. If the price were to reach $1, this would mean that the market cap of LUNC would cross 6 trillion, quite unrealistic given that the total crypto market cap all-time high sits at $3 trillion. Related Reading: Binance Hacker Put Millions Of New BNB In Circulation, What Does This Mean For Price? For the $1 mark to be feasible, the supply would have to be drastically reduced. Currently, in addition to the Binance burn, there is a 1.2 tax burn imposed on all transactions, but even this will not be enough to reduce the LUNC supply by at least 70% reduction that would make it possible for the digital asset to reach $1. Realistically, it is more likely that the digital asset will knock off another zero if the burns continue to ramp up and the cryptocurrency gets a major exchange listing. But a $1 price mark at a 6 trillion circulating supply is out of the question. Featured image from Finbold, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Digital Currency, News

Exchanges Close Q3 With Massive Bitcoin Outflows, Why A Rally Is On The Horizon

Posted on October 3, 2022 By Best Owie

The third quarter of 2022 was a rollercoaster for the price of bitcoin. BTC’s price had fluctuated wildly during this time and ended up hitting lower lows than expected. However, this has not changed investors’ convictions about the cryptocurrency. As the third quarter drew to a close, there had been a massive withdrawal spree from centralized exchanges, which led to more than $600 million in outflows. Bitcoin Outflows Grow The last day of September has proven to be an important trading day for bitcoin. Given that it was both the last day of the month and a Friday, meaning the close of the trading week, bitcoin investors seemed to have taken this as a sign to move their BTC off exchanges. Related Reading: Trade Activity Shows Ethereum Whales Are Seeking Refuge In Stablecoins Data shows that on this last day, investors moved 34,723 BTC out of centralized exchanges. This came out to Rond $668.07 million at the time of the withdrawals. It also follows the accumulation trend that has been gaining momentum since mid-September. This happened while the digital asset trended below $20,000, and it is now apparent that this accumulation trend had been behind the brief spike above $20,000 on Friday. More than 34k BTC leaves exchanges in one day | Source: Santiment On-chain data aggregator Santiment notes that this is the 4th largest daily BTC outflow that has been recorded for the digital asset in 2022. Additionally, it is also a new 3-month record for the digital asset. Part of a large “bank run” that has seen the BTC held by centralized exchanges drop by more than 60,000 over the weekend. Can This Trigger A Breakout? For bitcoin, such large removal of BTC from centralized exchanges is always a bullish indicator. Investors tend to do this when their long-term conviction is high, and they want to safeguard their coins as they hold out for the future since it is common knowledge that “Not your keys, not your coins.” What this does is remove a substantial supply of bitcoin from the open market, leading to a supply squeeze. Demand has also been on the rise for the digital asset, which means buy pressure is mounting. Santiment also notes in its post that the last time that the digital asset had seen such a massive movement of coins off exchanges, BTC’s price had rallied more than 22% in the next month. BTC settles above $19,000 | Source: BTCUSD on TradingView.com Interestingly, October has always been a historically bullish month for BTC and the general crypto market. This means that a rally from this present level could see the price of bitcoin hit $23,000 over the next 4 weeks. However, it is also important to bear in mind that the worst of the bear market is not over. So while a breakout is possible, it will be hard for bitcoin to maintain such high levels, and a downward correction could lead to new lows. Related Reading: Why Bitcoin, Ethereum May Not Be The Best Plays For The Next Bull Market Bitcoin is trading at $19,189 at the time of this writing. This puts it 10% below its 50-day moving average of $21,234. The next significant resistance point lies at $19,900, while the digital asset is seeing mounting support at $19,050. Featured image from CryptoSlate, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Digital Currency, News

Uniswap Token (UNI) Forms Rounded Bottom, Can Price Hit $7.5?

Posted on October 3, 2022 By jamesobande

UNI price creates more bullish sentiment as price forms rounded bottom below key resistance as price aims to break above. UNI closes the week with two bullish candlesticks.  The price of UNI breaks and holds above 8 and 20 EMA. Uniswap token (UNI) has had a rough start to the year and has failed to hold key support as the price of Uniswap token (UNI) had a spiral from a high of $45 to the current price of $6.5 as price aims to break out from its long downtrend movement. The price of UNI has struggled to keep up with Bitcoin’s (BTC) range movement as this has affected most altcoins, including the price of UNI. (Data from Binance) Related Reading: LUNC Price Gains 50% Despite Kwon’s Troubles, What’s Driving It? Uniswap Token (UNI) Price Analysis On The Weekly Chart The cryptocurrency market hasn’t had the best price movement in recent times, but that doesn’t mean that some crypto assets haven’t shown great strength in bouncing from their lows and breaking out of their downtrends to establish bullish momentum. Despite showing less price movement in recent weeks, the price of UNI has continued to trade below the key resistance level of $6.6, preventing a rally to new highs. UNI’s price fell from a high of $45 to a low of $3.5 as it bounced off that region, quickly rallying off to a high of $8, but the price was rejected as it continues to struggle to break out of its price range. The price of UNI ended the week looking more bullish as bulls pushed the price to break the resistance at $6.7, setting up a more bullish price movement for the price of UNI ahead of the new week. The price of UNI must break and hold above $6.7 in order to rally to a higher region with more bullish sentiments; if the price of UNI is rejected from this region, we may see the price retest a $5 region acting as good support zones. Weekly resistance for the price of UNI – $6.7. Weekly support for the price of UNI – $5. Price Analysis Of UNI On The Daily (1D) Chart The price of BEL on the daily timeframe continues to look bullish as the price forms a rounded bottom as the price breaks out of the neckline resistance. The price of UNI trades at $6.7 as the price attempts to break above the 50 and 200 Exponential Moving Average (EMA). The price at $6.3 corresponds to the price at 50 and 200 EMA for UNI on the daily timeframe. The Relative Strength Index for UNI on the daily timeframe is above 45, suggesting less buy volume. Daily resistance for the UNI price – $6.7. Daily support for the UNI price – $5.   Related Reading: Is Bitcoin ‘Uptober’ About To Begin? | BTCUSD Analysis October 3, 2022 Featured Image From themarketperiodical, Charts From Tradingview

Digital Currency, News

Is Bitcoin ‘Uptober’ About To Begin? | BTCUSD Analysis October 3, 2022

Posted on October 3, 2022 By Tony Spilotro

In this episode of NewsBTC’s daily technical analysis videos, we review a variety of technical and fundamental signals on the Bitcoin price monthly chart to see if we are getting closer to a bottom in crypto. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 3, 2022 The monthly closed with a doji candle, which typically forms at a point of indecision before either a reversal, or strong continuation. Past monthly dojis have commonly preceded short- and long-term turning points in crypto. The September monthly candle was the first ever monthly close below Bitcoin’s former all time high set back in December of 2017.  Although Bitcoin was clearly overvalued back then, it is hard to imagine in today’s world that the top cryptocurrency is still overvalued a full five years later. Related Reading: Bitcoin And The Golden Ratio Bottom | BTCUSD Analysis September 29, 2022 Bearish BTC Momentum Begins To Wane… Maybe The October monthly candle opened with pink on the LMACD histogram. This signal in the past put bear markets back into hibernation mode for at least a year or more, and suggests a major shift in momentum. But October must close bullish to confirm and cement the change in color on the Bitcoin monthly chart. The monthly Relative Strength Index remains the lowest in Bitcoin history, but is grinding along the bottom of a downward sloping channel. The same downward slope has connected past RSI peaks. Bitcoin bearish momentum might be weakening | Source: BTCUSD on TradingView.com Bitcoin Investors Could Be Getting Over Their Loss The Coppock Curve has also finally touched down at the same level where past bear market bottoms have occurred. Time cycle tools also suggest there could be some rhythmic behavior to Bitcoin that is about to unfold. The Coppock Curve was created by E.S.C. Coppock, who was asked by his church to identify long-term buying opportunities for investors. It is based on the idea that it takes between 11 and 14 months for a bear market to end, as that’s roughly how long it takes for a human to get over mourning a significant loss. Bear markets take at minimum 14 months | Source: BTCUSD on TradingView.com Related Reading: Bitcoin & The Global Currency Meltdown | BTCUSD September 28, 2022 Did Satoshi Call The Bottom In Crypto? Another possible bottom signal isn’t technical, but fundamental. Bitcoin price has now been in the lower range of the cost of production at about the same length of time as the 2018 bear market bottom. This is notable, because in commodities, prices bottom out near the cost of production. Even Bitcoin’s creator, Satoshi Nakamoto spoke of this. “The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.” Has Bitcoin bottomed at the cost of production? | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Here is a $49 discount pass to 21 Days To Better Crypto Trading by @elliottwaveintl. It gets you instant access to 3 learning resources on how to trade crypto using EW, the Crypto Trader’s Classroom service, & on Oct.5, access to the Crypto Pro Service ➡️https://t.co/ICKzvNnvG5 pic.twitter.com/gAyKxTdQNl — Tony “The Bull” Spilotro (@tonyspilotroBTC) September 28, 2022 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

Digital Currency, News

Ethereum Price Squeezes Shorts Positions, ETH Could Be Set For More Gains

Posted on October 3, 2022 By Reynaldo Marquez

Ethereum is following the general sentiment in the market as Bitcoin and other cryptocurrencies make a run towards previous highs. The second cryptocurrency by market cap knocked some gains over today’s trading session but seems poised for a re-test of its lows before moving to the upside. Related Reading: LUNC Price Gains 50% Despite Kwon’s Troubles, What’s Driving It? At the time of writing, Ethereum (ETH) trades at $1,300 with a 2% profit in the last 24 hours and in the last week. Unlike in previous rallies, ETH’s price is lagging larger cryptocurrencies, such as Bitcoin, the number one crypto that records a 4% profit over the same period. Ethereum At Critical Point, Will It Finally Breakout? Today’s bullish price action seems to be prompted by a rebound across legacy financial markets, the S&P 500 and Nasdaq 100 have been trading in the green giving cryptocurrencies room for a run. The bullish price action is leading to a change of sentiment across the digital asset class as investors turned optimistic. Over the weekend, with traditional markets close, the situation was different and market participants were gearing up for a potential leg down. According to a pseudonym trader, Ethereum saw a spike in Open Interest (OI) against the U.S. dollars. This increase in OI was recorded as the cryptocurrency trended to the downside. Therefore, the analyst claims that the metrics hinted at a spike in short (sell) positions from traders expecting further downside in the short term. The liquidity provided by these short positions accumulates to the upside, making each rally stronger and fueling further bullish momentum. However, the analyst believes the market might take this upside liquidity before re-testing support levels. The pseudonym trader wrote the following via his official Twitter account: I said yesterday that there was a lot of short build up on $ETH. They’re getting squeezed now. Once that’s done it gets slapped back down I think. Looks like a clean short set-up. Related Reading: Quant Explains How US Stock Market Volumes Influence Bitcoin Price In case of potential downside, data from Material Indicators shows that the area between $1,280 and $1,250 has the biggest concentration of bid (buy) liquidity on low timeframes. These levels might provide the bulls with strong support to either resume the bullish momentum or send ETH back into accumulation mode.

Digital Currency, News

Quant Explains How US Stock Market Volumes Influence Bitcoin Price

Posted on October 3, 2022 By Hououin Kyouma

A quant has explained how there is a connection between the recent trends in the US stock market volumes and the Bitcoin price. TradFi Depth Oscillator Has Hit A Low And Is Now Turning Back Up As explained by an analyst in a CryptoQuant post, the volume depth in traditional finance markets has been low recently. The “TradFi volume” is a measure of the total amount of transactions that buyers and sellers are making on the US stock market. There is a concept called “market depth,” which is the ability of any market to take in large orders without impacting the price of the commodity much. Generally, the more orders there are in a market, or simply, the higher its volume, the stronger the depth of the asset. However, something important is that these orders should be spread evenly within the market, otherwise the depth wouldn’t be as great. Related Reading: Bitcoin Bullish Signal: Exchange Outflows Spike Up Using an oscillator, the cyclical trend in the depth of any asset can be noticed. Here is a chart that shows how the US stock market volume depth oscillator has changed its values during the last few months: The value of the metric seems to have been turning around in recent days | Source: CryptoQuant As you can see in the above graph, the quant has marked the relevant zones of trend between the Bitcoin price and the TradFi volume depth oscillator. It looks like whenever the indicator has transitioned from positive to negative values, the value of the crypto has observed bearish winds. Related Reading: Here Is How Uniglo.io (GLO) Has Infinitely More Use Case Than Bitcoin (BTC) And Dogecoin (DOGE) On the other hand, the metric crossing the zero line the opposite way has lead to a bullish trend for the price of BTC. Bitcoin has also seen local bottom formations around the points where the stock market volume depth oscillator itself has hit lows. About a week ago, the indicator hit very low values that were comparable to those between February and March 2020. Since then, the metric has started turning back up. The analyst believes that this recent trend formation could imply that Bitcoin may see a respite soon, and bounce to levels between $21.5k to $24.5k. Bitcoin Price At the time of writing, Bitcoin’s price floats around $19.2k, up 2% in the last seven days. Over the past month, the crypto has lost 4% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has been stuck in consolidation during the past few days | Source: BTCUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Digital Currency, News, Stock Market

LUNC Price Gains 50% Despite Kwon’s Troubles, What’s Driving It?

Posted on October 3, 2022 By Best Owie

Over the last week, the crypto space has been saturated with news of the hunt for Terra (LUNC) founder Do Kwon. The South Korean founder is now being hunted by both South Korean authorities, as well as Interpol, which means Kwon is now wanted in 190 countries. However, Kwon’s troubles seem not to have affected the price of LUNA Classic (LUNC), as it continues to see green even when the broader market suffers losses. LUNA Classic Grows 50% Speculations around the performance of LUNA Classic (LUNC) had risen drastically once Kwon was officially declared wanted by the authorities. It was mostly expected that the digital asset would take a beating from the resulting decline in positive sentiment among its investors, but this has not been the case. LUNC has instead shaken off these incredibly bearish developments and has been one of the market leaders in terms of gains. Related Reading: Why Bitcoin, Ethereum May Not Be The Best Plays For The Next Bull Market Over the last 7 days, the price of LUNC is up more than 58%, whereas its larger counterparts, such as Bitcoin and Ethereum, have been seeing single-digit and negative gains. The daily trading volume of the cryptocurrency remains high, with almost a billion dollars in volume reported by Coinmarketcap. LUNC had also successfully knocked off another zero over the past month to bring its trading price to the $0.0003 level. LUNA Classic trending at $0.00032 | Source: LUNCBUSD on TradingView.com Even coming out of the weekend of low performance in the crypto space, LUNC has begun to turn towards green, already up 1.80% in the last hour as of the time of this writing. It also shows no sign of decline at this time as it continues to receive massive support from crypto traders. Why Is LUNC Price Up? Since the collapse of the Terra network, there have been some strides made in an effort to restore it by those who refuse to give up on it. It was a long time in the making, but the community had eventually agreed on a 1.2% transaction fee on all transactions, which are then sent to a burn wallet to reduce the available supply of the token. Binance, the largest crypto exchange in the world, had also joined in this effort to support LUNC’s price by announcing that it would be burning all fees realized from LUNC trading on its platform. LUNC’s price had surged more than 60% off the back of the announcement alone as the crypto exchange announced that it would be carrying out a scheduled weekly burn every Monday. Related Reading: Trade Activity Shows Ethereum Whales Are Seeking Refuge In Stablecoins Another factor that has been propping up the price of LUNA over these past couple of weeks has been rumors that have been circulating that LUNC was going to get listed on some important platforms. These trading platforms include Robinhood and Coinbase, a move that would instantly drive up the value of any cryptocurrency. However, these are just rumors for the time being. Nevertheless, LUNC remains a fan favorite over this time due to its high volatility. Its already established community is also a draw for investors who believe that the digital asset could return to its past glory. But with its founder currently rumored to be on the run from authorities, it is unlikely these large trading platforms will pick it up. Featured image from Finbold, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Digital Currency, News

Chainlink Crosses $6.18 Trillion In Transaction Value – Will This Boost LINK Price?

Posted on October 3, 2022 By Christian Encila

The reception of Chainlink among crypto enthusiasts has been positive. The ecosystem’s transaction volume has surpassed $6 trillion, according to the project’s official Twitter account. Because of this rise, the number of native integrations in the ecosystem rose from 12 to 15. At this point, it appears that Chainlink may be en route to the proverbial moon. Shouldn’t a price increase coincide with improved metrics? No, not quite. The on-chain stats for LINK don’t look good, according to the statistics provided by Santiment. Related Reading: Ethereum Sees Surge In Number Of New Addresses – Will ETH Shine This October? Chainlink Market Cap Down As of this writing, there has been significantly less progress made on the LINK chain than in previous months. The value of Chainlink’s stock on the market is likewise much lower. The market cap for LINK on October 2 was $284,961,375, a decline of 78.06% from its all-time high of $1,299,905,978 on September 29, data from CoinGecko show. A downward trend may be forming. However, at this time, Chainlink’s price is quite volatile on the intraday and 4-hour time frames. LINK’s historical volatility is rather high, ranging between 64.75 and 50.27, indicating that its price frequently fluctuates between ranges. The Stoch RSI figures are also falling, although the relative strength index of the coin is quite constant. Although the coin’s performance indicates a downward trend, LINK HODLers may still have reason for optimism. Chart: TradingView.com LINK Investor Confidence Up According to statistics from CryptoQuant, LINK exchange reserves are currently below average. This may suggest that the coin is not undergoing a significant selling pressure. This is depicted on the graphs as a price increase. As of the time of writing, LINK is up 2.26 percent on a 4-hour scale. The price of the coin fluctuates between $7,026 and $6,574. These two support levels are significant, as any breach by the bears might cause a sell-off that pushes the price below $6. The chart also reveals a head-and-shoulders shape, which can act as a development impediment. However, as of this writing, the token has broken through and is on an intraday and 4-hour upswing. Considering the current report for the third quarter of 2022, this could indicate a rise in investor confidence. As the ecosystem continues to flourish, LINK holders should anticipate more good news in the coming days. Related Reading: Crypto Community Predicts Polygon (MATIC) To Rise Nearly 20% By October 31 LINK total market cap at $3.5 billion on the daily chart | Source: TradingView.com Featured image from Pixabay, chart from TradingView.com

Digital Currency, News

As Crypto Storage is Still a Major Problem, Can NFT integration Solve the Issue?

Posted on October 3, 2022 By NewsBTC

Now a trillion-dollar market, the crypto ecosystem has withered some of the toughest conditions within its period of existence. However, like any other technological innovation, it is not short of native challenges. This ‘lucrative’ market faces a myri…

Digital Currency, News

Bitcoin Sees Bullish Opening, Can BTC Reclaim $20,000 Region?

Posted on October 3, 2022 By Reynaldo Marquez

The Bitcoin price has been able to hold its ground over the weekend, and it’s hinting at a potential bullish week for the nascent asset class. The cryptocurrency has been stuck in a tight range for the past month, unable to reclaim and flip the area north of $20,000 back to support. Related Reading: Bella Protocol Shows Strength, Can Bulls Break A Key Resistance? At the time of writing, Bitcoin (BTC) trades at $19,400 with a 2% profit in the last 24 hours and a 3% profit over the past week. In the crypto top 10, most cryptocurrencies are trading sideways or with small profits in the last hour, as this trading session prompted low timeframe bullish momentum across the board. Bitcoin Gearing Up For The Upside, $20,500 Holds The Key Today’s bullish trading session has been supported by a rebound in traditional finance markets. Major U.S. indexes were able to rebound from last week’s downside move and have been recovering allowing Bitcoin and other cryptocurrencies to display some strength on lower timeframes. The upside move might come as a surprise to many market participants expecting more losses over the rumors of insolvency surrounding financial institution Credit Suisse. Top representatives from the bank have denied the rumors, and the markets seem to be pricing them to the upside, so far. Analyst and trader Adam Mancini celebrated the recent bullish price action for the stock market and hinted at the potential continuation of the bullish momentum. As Bitcoin and crypto continued to move in tandem with equities, the rally might be translated into further gains for the nascent asset class. Mancini wrote the following about the current price action for the S&P 500, and the longer implication: Excellent follow through in #ES_F: 3635, 3670 were my targets today & 3670 just hit. Key to note-by reclaiming 3635, this makes Fridays drop a big, failed breakdown & bottoming signal. Bulls must follow through though. 3705 next up, 3635-45 now must hold support. Stars Align For A Bitcoin And Crypto Rally? In support of the bullish thesis for Bitcoin, data from Material Indicators show a spike in buying pressure from all investors, retail, and whales. If these investors continue to bid on the price action, BTC’s price might extend its bullish momentum. However, as the chart below shows, there is considerable ask (sell) liquidity for Bitcoin above its current levels. This selling order might cap any short time rally, and prevent the cryptocurrency from reclaiming higher levels. Additional data provided by analyst Justin Bennett indicates that the U.S. Dollar continues to see weakness over today’s trading session. As NewsBTC has been reporting, the DXY Index (U.S. Dollar) bullish price action has taken its toll on risk-on assets, such as Bitcoin and equities. Related Reading: Ethereum Sees Surge In Number Of New Addresses – Will ETH Shine This October? As the currency prepares for further losses, the nascent asset class might be able to bounce further and reach the top of a channel presented by Bennett. The analyst claims that as long as Bitcoin stays above $18,700, the cryptocurrency has a chance of climbing all the way up to $26,000 in the coming weeks. No change to this. 👇 https://t.co/ICHbqXGbQr — Justin Bennett (@JustinBennettFX) October 3, 2022 

Digital Currency, News

Ethereum Sees Surge In Number Of New Addresses – Will ETH Shine This October?

Posted on October 3, 2022 By Christian Encila

The Ethereum Merge upgrade is expected to haul in more new users on the network which happens to be true with the surge of new active wallet addresses on the platform.  Ethereum’s new active wallet addresses climb to a new ATH of 3,001.804  ETH seen to spike in terms of social media engagements and mentions  ETH price up by 0.46% as of press time According to a Twitter post by Glassnode shared on October 2, the number of new active wallet addresses on the Ethereum network recently climbed to a new ATH of 3,001.804. While it’s true that this screams a boost in investor interest in the alt, the recent plunge in market volume and sentiment seems to be in contrast to everyone’s expectations to date. The number of new active wallet addresses on the Ethereum platform is seen to have dropped in August and recovered since September. Related Reading: Crypto Community Predicts Polygon (MATIC) To Rise Nearly 20% By October 31 Spike In Number Of ETH Addresses Trigger Increase In Social Metrics The increase in the number of wallet addresses also triggered a spike in social media engagement of the altcoin. Ethereum has shown a significant improvement of 4.63% surge in terms of social mentions and also 27.6% in social engagements. The Merge has created a lot of buzz on social media especially in the past month but the overall sentiment wasn’t purely positive. In fact, Ethereum is down in terms of weighted sentiment as seen in the last few days. In addition, ETH value has also been moving downwards as seen in the past couple of days. The altcoin volume has retreated from 13.45 billion on September 30 to only 6.03 billion on October 2. On the brighter side, even with the negative public sentiment, Ethereum still managed to attract more whale investors in the altcoin. Evidently, the top 500 ETH whales have gained interest in investing and buying the crypto. The momentum of Ethereum has shown some growth as seen in the past three days indicating an increase in wallet transactions involving Ether. Ethereum Development Activity Decreasing More so, the altcoin also gained the approval of Deutsche Telekom following their announcement of planning to roll out an Ethereum validator. On the other hand, the development activity on Ethereum has been spiraling down too which implies the decrease in activity on the GitHub. The current market state has however negatively impacted Ethereum as even the Merge failed to meet expectations in terms of capital outflow. Consequently, despite the growth in terms of wallet transactions and the rise in social media engagements, the price of ETH wasn’t able to keep up with the positive sentiment.  The coin is seen to recover a bit and is in the green lane as of publication. According to CoinMarketCap, ETH price has soared by 0.46% or trading at $1,304.30 as of this writing. Related Reading: Shiba Inu Fanbase Awaits Eternity Download Event – Will It Boost SHIB Price? The ETHUSD pair is trying to break past the $1,317 level on the daily chart | Source: TradingView.com Featured image from Top Trend Coins, chart from TradingView.com

Digital Currency, News

The RLWC 2021 is Coming Soon, CoinEx Cheers for Athletes as the Exclusive Cryptocurrency Trading Platform Partner

Posted on October 1, 2022 By NewsBTC

The Rugby League World Cup (RLWC) 2021 is set to kick off with a match between England and Samoa men on 15 October at St James Park and conclude in Manchester with the wheelchair final on 18 November and the men’s and women’s finals in a spectacular do…

Digital Currency, News

Shiba Inu Fanbase Awaits Eternity Download Event – Will It Boost SHIB Price?

Posted on October 1, 2022 By Christian Encila

The original release of the blockchain implementation of Shiba Eternity occurred in Australia on September 17. Shiba Inu followed the larger market sell-off that began on September 13 and rallied nearly 7% from September 17-18. During this time span, the rally did not significantly alter market sentiment. New information about the game’s release, though, may add some hype. According to a recent tweet by Shib Rumours, the release date of the game is set for October 1. However, the latest post on the official Shiba Inu Twitter account indicates that the worldwide launch of the game will take place on October 6. SHIB has a current trading range of $0.00001073 – 0.00001154. Could the meme coin see a resurgence after the game’s release? Related Reading: Uniswap Could Slide Below Support Zone – No Demand For UNI This Week? Shiba Inu: Increasing Speed After the latest sell-off on September 18, an uptrend has been noted and has been very consistent up to the time of writing. Given that this occurred only a day after the Australia release, it’s likely that long-term token holders witnessed the price increase and sold off their holdings. During this period, the memecoin saw a pullback and plummeted 8.5% immediately. Currently, the recent price movements have created a head and shoulders pattern before to today’s breakout. During this breakout, the price increased by 2.9% Given the current state of Shiba Eternity, this price movement can be regarded as a sign of increased anticipation for the game’s October 6 release. ETH whales are also contributing to the hype train. According to WhaleStats, the top 1,000 Ethereum whales have more than $147.5 million. WhaleStats also regarded Shiba Inu as the token with the highest dollar value position. Related Reading: ApeCoin Performance Could Attract The Whales – How About The Bulls? Keeping A Close Eye On The Market Therefore, there are a few things that future Shiba Inu players and investors/traders should be aware of. One of these is that a price increase is frequently followed by a severe market correction, similar to what we experienced on September 18 following the rally on September 17. As of this writing, SHIB is trading at $$0.00001137, up 2.5 percent in the last seven days, data from Coingecko show, Saturday. As October 6 approaches, we will have a better sense of whether Shiba Inu will increase in value or decline further. SHIB total market cap at $6.29 billion on the daily chart | Source: TradingView.com Featured image from VOI, Chart: TradingView.com

Digital Currency, News

Why Bitcoin, Ethereum May Not Be The Best Plays For The Next Bull Market

Posted on September 30, 2022 By Best Owie

Since the launch of bitcoin, there have been massive gains recorded by those that got in early and held on long enough. The same was the case with Ethereum, whose market cap grew to the hundreds of billions. However, the growth that these digital assets have already seen over the years, it has put a hamper on how much they can still grow over the coming years. This is why investors are looking elsewhere for larger gains. Bitcoin, Ethereum Gains Are Lower Over the last bull market, it became apparent that bitcoin and Ethereum will no longer be able to give the kind of returns that early investors had gotten. During the previous cycle low, bitcoin had dropped to as low as $6,000 but had reached $69,000 during its peak. This was a 10x growth for the digital asset. Related Reading: Why Most Public Bitcoin Miners Have Performed Terribly In Their Lifetimes The case was similar to Ethereum, the second-largest cryptocurrency by market cap, although it had fared much better compared to bitcoin. It had grown from its cycle low of around $100 to $4,800 at its peak. This was about a 500x growth for the digital asset. BTC grows 10x | Source: BTCUSD on TradingView.com However, their already massive growth has been putting investors off of them, not because they are not good investments but because the potential to explode exponentially has been greatly reduced. An example is that from bitcoin’s current price, even if it were to reach $100,000 per coin, it would still be a less than 10x growth. The same with Ethereum, although the digital asset does carry more potential for larger growth compared to bitcoin due to it being much younger. If ETH were to grow to $10,000 per token, it would barely be a 10x growth. Altcoins Take The Cake Altcoins had barreled ahead of market leaders such as bitcoin and Ethereum when it came to gains in the last bull market. Where these large digital assets were doing below 500x, smaller altcoins such as Dogecoin and Shiba Inu had recorded ROI in the thousands. Related Reading: Bitcoin Sees Massive Decline In On-Chain Activity Mainly, meme coins were notorious for such returns, but altcoins from other spheres had seen the same kind of growth too. FTM is a token that had traded as low as $0.2 and peaked above $3.4 during the bull market. DOGE’s price had made an impressive run-up from $0.004 to $0.7 at the height of its rally. However, these are only, but a small example of the many ways altcoin had been great investments during the bull market. With the next bull market expected to happen in 2024, it is no surprise when investors are turning to smaller cap tokens in hopes of catching the next DOGE or SHIB. Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike. Featured image from Medium, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Digital Currency, News

XRP Price Rallied By Double Digits, Will Buyers Defend This Level?

Posted on September 30, 2022 By anushsamal

The XRP price has increased significantly in the past 24 hours. The coin registered over 10% growth in the past day. Over the last week, the coin brought in 10% appreciation as well. Overall, XRP bulls seemed to take control of the charts. The coin could slowly attempt to trade near its next resistance mark, and with growing demand, it could get past that price mark. The support zone for that price rested between $0.43 and $0.39, respectively. It is important for XRP to get back up to $0.51, which has been acting as a rigid price ceiling for the coin. Once XRP moves up beyond $0.51, the coin will strengthen its bullish move. The technical indicator of the coin has signalled an increased bullish momentum. The buyers have returned to the market, albeit with a decline. The decrease in selling strength will help XRP to move past the $0.51 level. The global cryptocurrency market cap today is $978 billion, with a 2.2% positive change in the last 24 hours. XRP Price Analysis: One Day Chart The altcoin was trading at $0.43 at the time of writing. XRP price had rallied sharply to $0.56 and then retraced on its chart. Over the past day, however, the coin started to move up on its chart. The immediate resistance for the coin stood at $0.51 and then at $0.56. On the other hand, the support line was at $0.41 and a fall from that level would cause the XRP price to dip to $0.34. That would make the bears stronger in the market. The amount of XRP that was traded in the last session showed signs of decline, which indicated that buying strength might have dipped on the chart. Technical Analysis The altcoin was still controlled by the bulls on the one chart. The coin had gone through a pullback, which is why buying strength also fell on its chart. The Relative Strength Index was above the half-line, and that indicated an increased number of buyers as compared to sellers. If demand falls, the sellers can take over at any moment. The XRP price was above the 20-SMA line as well as 50-SMA, which indicated that demand was still quite high for the coin. It means that buyers were in control of the price momentum in the market. Related Reading: Uniswap Price Continues Bearish Spell, Can It Move Past $6? Other indicators also continued to display that buyers were present in the market. The Moving Average Convergence Divergence depicts the price momentum and overall price action of the coin. MACD was positive with green signal bars, and that meant buy signal for the coin. The green signals were receding, which could mean that there might be a price pullback over the next trading sessions. Bollinger Bands indicate price volatility and fluctuations. The bands widened, which is a signal that there could be heavy price volatility over the next trading sessions. Related Reading: Litecoin Price Recovers But The Bears Might Drag The Altcoin To $51 Featured image from NationalWorld, Charts from TradingView.com

Digital Currency, News

Solana (SOL) Holds Its Gains While Most Coins Bleed

Posted on September 30, 2022 By Alyz

Solana (SOL) has managed to keep most of its gains over the past 48 hours while most coins bled out. The token started yesterday, September 29th, at $33.25, going as high as $34.34 at midday. Solana (SOL) suffered a loss in value on September 28th, when it dropped from $32.85 to $31.74. However, it quickly recovered before the end of the trading day and has been steadily increasing since then. The Price of SOL currently sits at $33.72 at the time of writing. Related Reading: Trade Activity Shows Ethereum Whales Are Seeking Refuge In Stablecoins SOL Holding On For Dear Life The past few days have seen most coins in the top 100 drop in value by more than 10%. SOL is one of the few tokens that have held its ground during this time. The coin price was off to a rocky start, entering the new week at $32.1. At a point, it seemed like it would rally up to $40 when it reached $35.02 on Tuesday, the 27th. However, the run was short-lived as it fell to $31.77 the next day. Later, the token left investors smiling as it slowly galloped back up to $34.34 the next day, September 29th. So far, it has kept a decent amount of profit for itself and is currently sitting at $33.89. Gains Amidst Troubled Waters SOL’s performance is nothing short of impressive, considering how volatile the market has been for other tokens.  It seems like there are no signs of slowing down anytime soon, either, with the coin still holding strong at above $33. SOL’s price stays modestly above a crucial support level of $30, which serves as a good buying zone for traders. For SOL to trend upward, the price must break over $35, its weekly resistance. If the price of SOL breaks and remains over $35, it might significantly rise to the $45-$58 range. Historically, SOL pricing has found breaking out of this range tough. Based on its performance in the last three months, it’s likely that SOL will likely continue to climb higher. Some people are already predicting the token to go up to $41. An analyst on TradingView noted that a move in the US market could be a catalyst for SOL to reach the $35 mark. Social Engagement And NFTs Might Just Be What SOL Needs The past week has been an eventful one for Solana on social media. According to a recent tweet by PHOENIX, Solana was the best-performing project in terms of social activity. The token had a total of 35,100 mentions and 58.3 million engagements across social media platforms.  Related Reading: Uniswap Could Slide Below Support Zone – No Demand For UNI This Week? But that’s not all. Statistics from Delphi Digital show an increase in Solana’s share of NFT trading volume. According to the tweet, Solana’s NFT volume increased from 7% to 24% in the past six weeks. This gained traction in the NFT sector can help push SOL beyond its resistance and into new heights. Featured image from Pixabay and chart from TradingView.com

Digital Currency, News

Bitcoin Slowly Trends Upwards Into $20,000, Will The Monthly Candle Turn Green?

Posted on September 30, 2022 By Reynaldo Marquez

Bitcoin has seen some profits over today’s trading session as September’s monthly candle is coming to an end. Market participants were expecting a tight battle between bullish and bearish forces, but the cryptocurrency has been moving sideways with slight upward pressure. Related Reading: Trade Activity Shows Ethereum Whales Are Seeking Refuge In Stablecoins At the time of writing, Bitcoin (BTC) trades at $19,700 with a 2% and 1% profit over the last 24 hours and 7 days. Other cryptocurrencies in the crypto top 10 by market cap are displaying similar price action, but BTC seems to be leading the low timeframe bullish momentum. People Buy Bitcoin To Hedge Against Their Currencies Downside Trend? Data from Material Indicators shows that investors with buying orders from $1,000 to $10,000 bought into Bitcoin’s recent price action while other investors sold their coins. In that sense, a rally into the monthly close seems unlikely. However, Material Indicators also show that ask (sell) liquidity has been decreasing as Bitcoin is rejected from the area of around $20,000. If the price can resume its bullish momentum and can gain more support from larger buyers, bears might be unable to defend $20,000. This might lead BTC to higher levels, and possibly for a reclaim of the levels around $26,000, according to a report from NewsBTC. The cryptocurrency must flip $20,100 into support, analyst from Material Indicators wrote the following about BTC odds as the market heads into the monthly close: There are short term signs of a potential pump, but the crossing of key moving averages suggests the broader trend will continue down. Resist the urge to overtrade or FOMO in. Additional data provided by research firm Messari picked a spike in buying pressure from investors in the Eurozone and the United Kingdom (UK). This pressure is related to a decline in the value of their currencies as the U.S. dollar rallied to a multi-decade high. The New Narrative, Will The Fed Pivot Leading Bitcoin To New Highs? This data from Messari has been put into question by several users. Regardless of its legitimacy, this data speaks about an increasing trend in the sector: more and more market participants are highlighting the impact of central banks in the financial sector and the global economy. According to a report from Charles Gasparino, a reporter for FOX Business, members of the U.S. Federal Reserve (Fed) are aware of the negative consequences of their monetary policy. They have brought a steep downside pressure for equities and risk-on assets, such as Bitcoin. SCOOP (1/2): @federalreserve officials getting increasingly worried about “financial stability” as opposed to inflation as higher rates begin to crush bonds, several big investors tell me. Fed growing worried about possible “Lehman Moment” w a 4% FF rate as Bonds and derivatives — Charles Gasparino (@CGasparino) September 30, 2022 Related Reading: Uniswap Could Slide Below Support Zone – No Demand For UNI This Week? If the pressure inside the Fed becomes too high, the financial institution might pivot its measures, and provide some room for a relief rally across the board. Speaking on this possibility, and on why Bitcoin has been showing strength relative to legacy financial assets, analyst William Clemente said: In theory: People front-running expected CB (Central Banks) pivot by buying BTC -> Perceived BTC “safe haven” flows -> Reflexive response from other market participants? Not my base case but non-zero possibility that my mind is open to.

Digital Currency, News

Trade Activity Shows Ethereum Whales Are Seeking Refuge In Stablecoins

Posted on September 30, 2022 By Best Owie

For a while now, Ethereum whales have been moving their coins around. This has been a direct result of the bear market that has caused investors to lose a significant amount of their portfolios. Even now, the crypto market is still being ravaged by declining prices. The result of this has been investors seeking refuge in tokens that do not see a lot of volatility, and Ethereum whales have not been left out of this flight to safety. Stablecoins Gain Favor Over the last 24 hours, the trade activity of the top Ethereum whales has shown a big shift towards stablecoins. These whales, who have usually been known to trade across a number of digital assets regardless of their volatility, are taking less risk during this time. The USDT stablecoin has been the number 1 token by trade volume for these top Ethereum whales. The average volume transacted by the whales came out to $267,328, even higher than the volume for ETH, which was the second-highest by trading volume. USDC featured in third place on this list, with an average amount of $89,180 over this time.  Related Reading: Bitcoin Sees Massive Decline In On-Chain Activity In the same vein, the stablecoins were at the top of the most purchased tokens over this time. USDT naturally led the list, while USDC was in second place. Interestedly, ETH did not take 3rd place as expected because Ethereum whales bought more SRM than ETH over this time period.  ETH price settles above $1,300 | Source: ETHUSD on TradingView.com On the topic of sales, the whales continued the trend of moving toward stablecoins. ETH was the most sold token over the last 24 hours, most of which had gone to converting ETH holdings into the more stable USDT and USDC. Ethereum Whales Want Stability Over the course of 2022, Ethereum whales have moved towards more stable options. While ETH continues to top their holdings, the change in their token holdings shows that these whales are getting ready to weather another bear storm. The start of the year had seen tokens such as Shiba Inu and FTX Token topping the holdings of these large investors. However, the tide has shifted so much in this regard that the largest token holdings of these whales are now in stablecoins. Related Reading: Why Most Public Bitcoin Miners Have Performed Terribly In Their Lifetimes Presently, USDC is the largest token holder of the top 100 Ethereum whales at $653.3 million (26.09%). It is then followed by USDT with a cumulative holding value of $575.14 million (22.96%). Shiba Inu still features highly on this list but is a long way from being the largest token held by these large investors. Given that analysts continue to warn investors that the bottom of the crypto bear market is not in, it is no surprise that these investors are looking for safety. If the bottom happens to be lower than already recorded cycle lows, then there is more pain to come. Featured image from CryptoSlate, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Digital Currency, News

Web3 Wellness Platform Amino Celebrates Historic Career of Four-Time NBA Champion Klay Thompson in Inaugural Drop of the GRAILS NFT Collection

Posted on September 30, 2022 By NewsBTC

As the first drop in a series of NFT launches, the collection will be available on Binance NFT to celebrate the amazing careers and accomplishments of some of the world’s most recognizable athletes
Amino, a new platform that is bringing health and fitn…

Digital Currency, News

Uniswap Could Slide Below Support Zone – No Demand For UNI This Week?

Posted on September 30, 2022 By Christian Encila

On Thursday, the $6.7 price range of Uniswap was rebuffed once again. The momentum has slowed on the shorter time frames, which is a bearish indicator for traders and investors. It’s possible that the recent decline in Bitcoin’s value is responsible for UNI’s lag. Statistics show that there is a moderately high relationship between UNI and Bitcoin. Recent price changes for both coins show a strong correlation between them. UNI has been closely following Bitcoin’s price action. As the bearish slump in Uniswap continues into its second day, the currency pair may be retracing its recent gains. As of this writing, UNI is trading at $6.45, up 12% in the last seven days, data from Coingecko show, Friday. Related Reading: ApeCoin Performance Could Attract The Whales – How About The Bulls? Uniswap Indicator: Bearish UNI fell to a closing price of $6.379 yesterday, 7.62% lower than its September 28 closing price of $6.555. Price action in the past is also suggestive of a developing bearish momentum. The momentum indicator is at a bearish low at the moment. Daily and 4-hourly trends tell the same pattern as well. The amount of UNI currency on hand is at an all-time high, per CryptoQuant statistics. Foreign exchange reserves on the rise portend worse conditions. As of this writing, daily UNI transaction volume in the shorter time frames from September 27 to now has been volatile. During this time range on September 27, UNI rallied and tested the $6.7 resistance level. This price trend mirrored that of Bitcoin. Although demand for UNI is not very great, both BTC and UNI are currently exhibiting indications of recovery. A Retreat, Or Advance? A recent research predicted that UNI would decline to $5.50, a volatile region that might spark a bigger sell-off in the crypto. A decline of this nature could prompt investors and purchasers to acquire a position inside the aforementioned price range, restoring the currency to its current value. However, UNI’s technological aspects are relatively neutral. On the charts, this appears as a near-stabilization of the price, which is supported by the 38.20 Fibonacci level. This neutrality of the technical indicators and the relatively stable price range can assist the bulls in gaining strength for a breakout. However, UNI has struggled to surpass the $6.49 level of resistance. A breach of this resistance might initiate a gradual rally toward the $6.7 price level. As the price trend wanes, UNI has a same chance of falling to $5.5 or rising to $6.7. Related Reading: QUANT Basks In Green As QNT Coin Surges 35% On 7-Day Rally UNI total market cap at $4.95 billion on the daily chart | Source: TradingView.com Featured image from Brightnode, Chart: TradingView.com

Digital Currency, News

Terra Reacts To Case Against Do Kwon, Claims Matter Is Highly Politicized

Posted on September 30, 2022 By Denis

The collapse of the algorithmic stablecoin Terra and its native token LUNA remained a shocking event in the crypto space. The outcome was the loss of billions of dollars for many individual and institutional investors. It also threw the entire crypto industry into a historic crisis. Lots of changes have taken place following the fall of the stablecoin. Subsequently, some investigations and legal cases have been against the founder of Terraform Labs, Do Kwon. Firstly, the South Korean Prosecutors leveled some allegations against the Terra Chief. Related Reading: Polkadot Price Drops On Chart With Resistance At $6.80, What’s Next? Also, the International Criminal Police Organization (Interpol) issued a Red Notice against him. The Interpol request is for law enforcement’s immediate arrest of Do Kwon globally. There was a massive loss of over $60 billion of investors’ funds through the fall of Terra and its ecosystem in the first half of the year. The South Korean Prosecutors requested the assistance of Interpol for the arrest of Kwon. The prosecutors accused the Terra chief of hiding to avoid their investigations. According to a source, Kwon was seen in Singapore, though the city police noted that he later left. Terra Says Case Against Kwon Is Highly Hyped Up Following the alert from Interpol, there was a slight fall in the prices of Terra Classic (LUNC) and the newly launched Terra LUNA. Some rumors have been that Kwon went into hiding since the collapse of Terra and its ecosystem. Terraform Labs has finally reacted to the case against Do Kwon. The firm stated that the case is highly politicized while speaking to Bloomberg. The spokesperson mentioned that the South Korean Prosecutors’ steps depicted unfairness in all aspects. Related Reading: Cardano Price Fails To Pierce Through $0.48 As Bears Continue To Dominate According to the spokesperson, the prosecutors failed to adhere to the basic rights available under Korean Law. Also, he noted that the prosecutors’ allegations against Kwon of breach of capital market laws indicated reasonable bias. Featured Image Pixabay, Charts From Tradingview.com

Digital Currency, News

Posts navigation

1 2 … 26 Next

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,070.00
0.85%
ethereum
Ethereum (ETH)
$1,649.28
1.78%
tether
Tether (USDT)
$1.00
0.28%
binancecoin
BNB (BNB)
$329.26
1.01%
ripple
XRP (XRP)
$0.402706
1.20%
cardano
Cardano (ADA)
$0.394906
2.08%
solana
Solana (SOL)
$23.35
-0.47%
shiba-inu
Shiba Inu (SHIB)
$0.000014
-0.91%
uniswap
Uniswap (UNI)
$6.87
0.68%

Topics

  • Business
  • Digital Currency
  • Forex
  • News
  • PSE
  • Stock Market
  • Tips and Guides
  • Treasury Bond

99Bitcoins Binance Bitcoin BitPinas Boss95rnd Cardano Coinbase CoinDesk Coinsph Coinstats Cointelegraph Cryptocurrency Cryptoslate Currencies Ethereum Forex GCash MarketWatch Maya Medium Newsbts PayMaya Pesolab PH news PKT Ripple Shiba Inu Stock market Themarketscompass Thewisecoin Tradingeconomics TradingView Treasury bond Wazirx XRP

Contributors

  • Binance Blog Articles Stay up to date with the latest stories and commentary brought to you by Binance, the world’s leading blockchain and crypto 0
  • Bitcoin News Daily Bitcoin News 0
  • Bitcoin.org Site Blog News about Bitcoin.org 0
  • BitPinas Crypto and Web3 News from the Philippines 0
  • CoinDesk Latest headlines from Coindesk. 0
  • Coins.ph My phone is my wallet 0
  • CoinStats Blog 0
  • Cointelegraph.com News Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest news and analyses on the future of money. 0
  • CryptoSlate Cryptocurrency News and Real-time Coin Data 0
  • Ethereum Blog 0
  • GCash Para Easier Ang Everyday Things… #GCashMoNaYan 0
  • Latest Financial and Investing News — TradingView Stay on top of today’s financial and business news, as well as the latest finance updates and headlines to help you make an informed decision. 0
  • MarketWatch.com – MarketPulse MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products. 0
  • MarketWatch.com – Stocks to Watch MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products. 0
  • Maya Stories Keep up with the latest innovations from the Maya community. Download the Maya App and Visit our page to learn more. 0
  • News 0
  • NewsBTC Bitcoin & cryptocurrency news today, price & technical analysis 0
  • Peso Lab – Money Guide for Filipinos Invest in PHILIPPINES 0
  • PKT Cash Blog The world’s first bandwidth-hard blockchain 0
  • The Coinbase Blog – Medium Learn about working at Coinbase: https://www.coinbase.com/careers – Medium 0
  • The Market's Compass Technical View Using Technical Analysis to Navigate the Waters of the Global Financial Markets 0
  • The Philippine Stock Exchange, Inc. — PSE 0
  • The Wise Coin Fintech Tutorials for Today’s Digital Pinoy 0
  • Trading Economics RSS Feed 0
  • WazirX Blog India’s most trusted crypto exchange 0
Hostinger Hosting

Recent Posts

  • A Step-By-Step Guide to Understanding a Crypto Whitepaper
  • S&P 500 jumps to end at nearly 2-month high as U.S. stocks book strong weekly gains
  • : Musk under SEC probe connected with Autopilot claims: Bloomberg
  • : U.S. oil prices settle at their lowest in more than week
  • : Carvana stock soars in active trading to lead the NYSE’s gainers
Scan QR code to start trading with Binance!

Copyright © 2021 - 2022 InvestaFeed.com.

  • DSLA ProtocolDSLA Protocol(DSLA)$0.003680-6.82%
  • lympoLympo(LYM)$0.004392-4.43%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • Werewolf CoinWerewolf Coin(WWC)$0.098082-2.58%
  • WPP TokenWPP Token(WPP)$0.006826-3.49%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • IDLEIDLE(IDLE)$1.44-12.39%
  • Dev ProtocolDev Protocol(DEV)$1.76-16.14%
  • EvidenZEvidenZ(BCDT)$0.122918-4.28%
  • B-cube.aiB-cube.ai(BCUBE)$0.183336-4.61%