Tag: Newsbts

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

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

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

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

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

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

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.

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

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

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

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

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

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.

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…

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. 

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?

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. 

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…

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 

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 

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

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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 

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

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.

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

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 

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

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

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…

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

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…

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

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…

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…

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

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

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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

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