ethereum

Cryptocurrency market capitalisation little changed over the past 24 hours, losing 0.4% to $2.27 trillion. This can hardly be called a move for such a volatile crypto market.

The cryptocurrency fear and greed index lost 11 points, dropping to 34, returning to fear territory. However, this comeback should be attributed more to the failure to develop growth rather than the price fall.

Bitcoin and Ether knocked after rise - 1

However, we must admit that the currencies are not catching up with the optimism of the stock indices, and there is no sign of a Christmas rally.

Bitcoin stalled on Wednesday at the $50K area and is trading again at $48.3K on Thursday morning. Ether was once again below $4K, another sign that too many traders are looking to lock in profits on the eve of a very successful year for cryptocurrencies. The relative share of Ether and Bitcoin has been falling over the past couple of days.

Bitcoin and Ether knocked after rise - 2

The divergence between the equity market and the leading cryptocurrencies may be nothing more than a temporary phenome

European Central Bank's Potential Minimum Reserve Increase Sparks Concerns

Polkastarter to Launch Polkacover DeFi Insurance and IDO

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 04.01.2021 08:19
The decentralized exchange built upon the Polkadot network is now launching its own DeFi insurance products and an Initial DEX Offering. Polkastarter has been touted as an Ethereum and Uniswap-rivalling automated market maker and dApp platform. It was launched on Dec. 15 with the purpose of enabling projects to raise capital on the Polkadot network. There have been a few minor partnerships but the new DEX has yet to gain much traction in an already crowded market place. It has now announced the Jan. 21 launch date of a new Polkacover DeFi insurance product and associated token. The day is coming !! We are ecstatic to announce that the PolkaCover #IDO will take place on the rockstar @Polkastarter DEX on Jan21st Join the whitelist on https://t.co/wim3K8FFG9Save the Date!#Polkadot #Bitcoin #polkastarter #DeFi pic.twitter.com/3U6oPfqCD4— Polkacover (@Polkacover) January 3, 2021More DeFi Insurance 2020 has been rife for hacks, scams, smart contract exploits, rug pulls, and flash loan attacks in the DeFi sector so insurance products are in big demand. Polkacover touts itself as the ‘first DeFi insurance marketplace for the global crypto ecosystem’, however, there are already a couple of insurance providers doing something similar. Nexus Mutual offers DeFi insurance and something called ‘shield farming’ to incentivize liquidity providers. The Cover Protocol is another decentralized insurance marketplace, but it was recently exploited in late December. Polkacover aims to collaborate with multi-national insurance providers that offer global insurance products such as crypto-related protection, health, life, education, and family insurance plans. It also aims to provide a fully comprehensive cover that is not currently available with current crypto-insurance offerings. The whitepaper explains; “Presently, the crypto insurance options are mainly either to niche in their coverage or too complex to understand for mass market adoption. This has resulted in a substandard experience for customer and policy management who are faced with a low penetration rate of adopting customers.” It does mention the Binance Security Asset Fund for Users (SAFU) which allocates 10% of trading fees to be used to cover extreme cases. The Polkacover platform will have four development phases; crypto insurance products, a global marketplace, peer-to-peer cover, and decentralized administration and arbitration. It will also offer cover from losses involving company negligence such as the recent Ledger data breach which resulted in a wave of phishing and physical attacks on its unfortunate customers. A New Insurance DAO Token In addition to the POLS DEX token, there will be a new CVR token for the governance of the Insurance DAO and liquidity purposes to create the P2P DeFi insurance platform. Users will be able to provide liquidity to insurance pools for different products, with the investments being allocated in the Polkadot DOT token and redeemable for CVR tokens. There is currently a private sale in process and according to the whitepaper, a total supply has been set at 135 million CVR. It intends a final circulation of 70 million and will buy back and burn tokens quarterly. The post Polkastarter to Launch Polkacover DeFi Insurance and IDO appeared first on BeInCrypto.
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DeFi Total Value Locked Nears $20 Billion as ETH Price Increases

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 04.01.2021 13:30
Institutional investors may still have their eyes on Bitcoin, but Ethereum has been attracting a great deal of attention so far in 2021. Ethereum has followed the meteoric price growth that Bitcoin has recently seen, smashing through $1,000 per ETH and eclipsing a $100 billion market cap. With these increases in price, we are also seeing a coinciding increase in total value locked in decentralized finance (DeFi) applications. As evident from a tweet by Quantum Economics founder, Mati Greenspan, “When Ethereum pumps it takes all the markets built on top of it along for the ride.” When #Ethereum pumps it takes all the markets built on top of it along for the ride. pic.twitter.com/P7PP0iVUn9— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan) January 4, 2021Is 2021 the ‘Year of DeFi?’ 2020 was a huge year for decentralized applications. At the beginning of January, there was less than $1 billion in total locked value (TVL) across all DeFi apps. Now, just one year later, that number is closing in on $20 billion. With the majority of the DeFi system built on Etheruem, the rise in Ethereum prices after increased usage of applications on its platform was not a coincidence. The more value that is locked into DeFi applications, the more underlying value that the Ethereum ecosystem captures. This also works for the increase in total locked value in DeFi increasing alongside the rise in Ethereum prices. Greenspan explains why this happens, “The TVL figure is measured in US Dollars while much of the value is locked in Ethereum. So when the price per ETH rises, the TVL goes up with it.” Finance in the Digital Age DeFi, short for decentralized finance, is the implementation of traditional financial systems on decentralized platforms. DeFi applications allow users to conduct financial transactions without oversight from a third party, such as a bank or exchange. These applications allow for transactions such as the issuance or receiving of loans, exchanging of assets, providing or receiving insurance, and more. Usually, these applications are peer-to-peer, meaning two users are directly interacting with each other. Without the oversight and charges from third parties, users get to benefit by recapturing the value that was previously profit for financial firms This has led to massive innovations in the financial industry and is allowing for financial interactions to take place that were not possible before. The post DeFi Total Value Locked Nears $20 Billion as ETH Price Increases appeared first on BeInCrypto.
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On-chain Metrics Suggest Ethereum Could Still be Undervalued

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 05.01.2021 06:43
Ethereum prices revisited the four-figure territory again this morning following a minor pullback that threatened heavier losses. Some on-chain metrics are suggesting it is still undervalued even after its recent rally. After hitting $1,150 on some exchanges on Jan. 4, Ethereum prices retreated sharply following Bitcoin as the CME gap closed resulting in a 10% correction for BTC. ETH prices slid back to $850 within six hours but did not remain there long. At the time of press, Ethereum prices were battling to hold on to the $1,000 level. Industry commentator Alex Saunders tweeted his bullish prospects for Ethereum making new all-time highs. Record high for $ETH was on @coinbase at $1500. Currently trading at $1050 puts us 45% away. But after everything we've witnessed in the past 12 months, would it really surprise you to see a 50% sling shot over this weekend or even a day? I feel it's about to shock us all. pic.twitter.com/InlrjzYsV2— Alex Saunders (@AlexSaundersAU) January 4, 2021Other analysts and observers have suggested that the real monetary fundamentals for Ethereum have yet to kick in. Additionally, one metric is also suggesting that the asset has further to go. Ethereum Still Undervalued According to the latest Glassnode Insights report, Ethereum spent less than one month in the four-figure territory before entering a painful bear market that lasted two and a half years. “However, on-chain signals suggest that we are still in the earlier stages of a bull market, relative to the same price levels in 2018.” The report analyzed the Market Value to Realized Value (MVRV) ratio which is the relationship between market capitalization and realized capitalization. The metric, created by David Puell and Murad Muhmudov, gives an indication of when the traded price is below a ‘fair value.’ Glassnode stated that the MVRV ratio is still extremely low relative to early 2018 when the price was equivalent to current levels. When the ratio was this low previously, in the lead-up to the 2017 bull run, ETH prices were still below $25. “This indicates that in the current market, there is room for significant further growth before ETH becomes overvalued.” New Highs in Sight As we’ve seen countless times before, Ethereum has yet to fully decouple from the movements of Bitcoin, so its next move is likely to follow along. On the downside, there is immediate support in the mid-$800 range and even heavier support around $725 where ETH consolidated for nearly a week. Another leg up could meet resistance at $1,230 where previous weekly candles closed. At current levels, Ethereum is just under 40% away from a new all-time high. The post On-chain Metrics Suggest Ethereum Could Still be Undervalued appeared first on BeInCrypto.
DeFi TVL Reaches $20 Billion While ETH Locked Dwindles

DeFi TVL Reaches $20 Billion While ETH Locked Dwindles

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 06.01.2021 07:50
The total value locked (TVL) figure for the decentralized finance ecosystem has reached a record level just shy of $20 billion. However, more and more Ethereum is being withdrawn from the space. Decentralized finance (DeFi) has hit another milestone in terms of total value locked according to metrics provider DeFi Pulse. On Jan. 6, the figure hit $19.87 billion, an all-time high and an increase of 2,800% since the same time last year. Many have questioned this method of measuring market sentiment and performance since numbers can be duplicated from the same asset being farmed or wrapped for use on different protocols.  However, it’s one of the few DeFi metrics we have and does provide some insight on the overall performance of the fledgling financial ecosystem. DeFi TVL Chart – DeFi PulseDeFi Positive Feedback Loop Writing in the latest Defiant newsletter, researcher Owen Fernau labeled the TVL growth a “positive feedback loop,” noting that it should also serve to push the price of ETH higher as has happened in recent weeks; “TVL’s growth serves as a positive feedback loop: increases in value locked suggest increased utility of Ethereum,” Ethereum currently constitutes around 35% of the TVL which is measured in USD. Its price surge and other metrics suggest ETH is still undervalued. So while TVL is increasing, it doesn’t necessarily mean that more ETH is being locked in DeFi. In fact, the opposite is occurring. The amount of ETH locked in DeFi has fallen by 26% since its peak of 9.5 million ETH in October 2020. Today, that figure stands at just below 7 million ETH. Where is the ETH Going? There could be a number of reasons for this exodus of ETH. speculation on spot markets could be driving Ethereum holders to trade the asset since its volatility has increased along with the price. Arbitraging could also be occurring, but this is likely to be done by the whales since smaller trades and swaps would be eaten up in gas fees at the moment. The amount of the asset locked in the Beacon Chain deposit contract also continues to climb and has now reached 2.27 million ETH, or roughly 2% of the total supply. This is a third of the 6% that is currently locked in DeFi. At today’s prices, the amount of ETH staked and locked for at least another year is valued at $2.45 billion. According to the ETH 2.0 Launchpad, it’s currently yielding just over 10% for investors. The numbers are all bullish for Ethereum which is proving its versatility time and time again despite the exorbitant current cost of using it. The post DeFi TVL Reaches $20 Billion While ETH Locked Dwindles appeared first on BeInCrypto.
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Uniswap Liquidity Surges to $3 Billion Amid Gas Price Crisis

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 07.01.2021 06:52
Liquidity on the world’s most popular decentralized exchange, Uniswap, has skyrocketed despite a massive surge in gas prices. It seems that cryptocurrency traders can’t get enough of token swapping as decentralized exchange popularity continues to grow and eat the market share of their centralized cousins. Uniswap suffered a major liquidity decline when yield farming incentives ended in mid-November 2020. A governance vote was carried out and the decision was not to extend them, resulting in an exodus from the DEX. Fast forward six weeks and that liquidity has returned despite the lack of yield farming pools on the platform. Uniswap Liquidity Tops $3 Billion Uniswap founder Hayden Adams noted the achievement stating that liquidity had surpassed $3 billion and was approaching its all-time high. According to the exchange’s own analytics, that number was $3.36 billion on Nov. 13.   Liquidity on @UniswapProtocol just passed $3.1b, approaching an all time high This time without any UNI liquidity mining incentives Just hundreds of thousands of real users generating millions of dollars in daily trading fees ($14.1M this week) pic.twitter.com/w8OpIK9gXV— Hayden Adams (@haydenzadams) January 6, 2021The liquidity spike began on Jan. 2 and a billion dollars was added over the next five days according to those charts. The top pair on the DEX is wBTC/ETH generating $43 million in volume and $129,000 in trading fees over the past 24 hours. Without any token farming incentives, liquidity providers only get a share of the 0.3% trading fee for their respective pools. 24-hour trading volumes are currently around $750 million according to Uniswap. Better yields can be found elsewhere, but Uniswap still appears to be the preferred choice for token swaps. DeFi Pulse reports slightly different figures with a total value locked of $2.65 billion, but the trend and chart pattern is similar. It also reports that the TVL figure has increased by 7.6% over the past 24 hours but the amount of ETH locked continues to decline. The surge in DeFi activity, and Ethereum’s pumping prices, has added to the gas crisis as average transaction fees hit a record high of $16 on Jan. 4 according to BitInfoCharts. Fee costs have retreated a bit since and the analytics website is currently reporting the average fee at around $9, which is still very painful for anyone not shifting large quantities. UNI Price Update Uniswap’s native UNI token has been flying recently, along with the rest of the cryptocurrency market. UNI prices are flat on the day at $6.24 according to Coingecko but have made an impressive 50% over the past seven days. Prices for the DEX governance token are now not far off its all-time high of just over $7 which came in mid-September when its token farming incentives were launched. The post Uniswap Liquidity Surges to $3 Billion Amid Gas Price Crisis appeared first on BeInCrypto.
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Grayscale Dives Deeper Into DeFi with Yearn, SushiSwap Trust Filings

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 12.02.2021 06:18
Less than a month after institutional crypto fund giant Grayscale first pivoted to decentralized finance (DeFi), it has filed a number of new trust filings, including Yearn Finance and SushiSwap. The world’s largest crypto asset trust for institutional investors, Grayscale, is diving deeper into the DeFi sector, with more trust flings in addition to Aave and Polkadot which it filed last month. The Delaware corporate registry, Grayscale’s statutory trustee for the state, received the filings on Feb. 10, following six filings on Jan. 27. In addition to the two above, uniswap (UNI), cosmos (ATOM), monero (XMR), and cardano (ADA) trust filings were added and on Feb. 1 it registered a theta (THETA) trust. The new filings include DeFi aggregator Yearn Finance, Uniswap clone SushiSwap, Compound Finance, crypto lending stalwart MakerDAO, synthetic asset platform Synthetix, and decentralized storage platform Blockstack. In late 2020, Grayscale also registered trusts for chainlink (LINK), basic attention token (BAT), decentraland (MANA), tezos (XTZ), filecoin (FIL), and livepeer (LPT). Grayscale now has 33 registered trusts in the state, however just nine are currently active. In mid-January 2021, the firm dissolved its XRP trust following Ripple’s ongoing legal battle with the Securities and Exchange Commission. The filings do not mean that these trusts will definitely be launched, they have just been registered as limited liability companies in preparation. AUM Hits $36.8 Billion The firm’s latest assets under management figure is a whopping $36.8 billion, an increase of 47%, since BeInCrypto reported Grayscale’s first DeFi trust filings on Jan. 29. 02/11/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.Total AUM: $36.8 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/d7I2sPMwZ4— Grayscale (@Grayscale) February 11, 2021Grayscale’s current trusts are dominated by bitcoin (BTC), which represents about 82% of the total with $30.2 billion. The ethereum (ETH) trust has around 15%, with $5.5 billion, and the rest is distributed between a number of smaller crypto trusts including litecoin (LTC), bitcoin cash (BCH), stellar lumens (XLM), ethereum classic (ETC), and zcash (ZEC). DeFi Tokens Hit ATHs The news appears to have given a boost to these DeFi-related tokens, as YFI has skyrocketed 26% to reach a new all-time high of $47,400, according to CoinGecko. Following somewhat lackluster price action, YFI has finally awoken and is moving upwards again. SUSHI also hit an ATH a couple of hours ago of $17.30, while COMP is close to its own trading just below $500, at the time of writing. MKR is trading flat on the day just over $2,500, while SNX has also made an all-time high of $27. DeFiPulse is reporting the total TVL across the DeFi sector at a record $40 billion, but it is likely to be higher since some listings are omitted. The post Grayscale Dives Deeper Into DeFi with Yearn, SushiSwap Trust Filings appeared first on BeInCrypto.
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Microsoft and Enjin Roll Out NFT-Based Reward System to Praise Women in Science

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 12.02.2021 10:26
Microsoft has teamed up with gaming-based blockchain platform Enjin to roll out customizable non-fungible tokens (NFTs). The tokens will be compatible and transferrable with sandbox-adventure video game Minecraft. According to an announcement made on Feb. 11, the initiative, the brainchild of both companies, has been launched to mark International Day of Women and Girls in Science. To mark the occasion, Microsoft has unveiled Enjin’s blockchain-based Azure Space Mystery mini-game which distributes exclusive NFTs as rewards among the community for performing learning tasks. “Players will work to save the International Space Station, while learning from and celebrating prominent European female scientists, including Caroline Herschel, Mary Somerville, Hypatia and Raymonde de Laroche,” the announcement reads. Following Azure Mystery Mansion and Azure Maya Mystery we present to you: #AzureSpaceMystery https://t.co/JEeQeJD2x8 Complete this text-based game and get to know amazing women in (space) technology pic.twitter.com/j5e4DGo0O0— Microsoft Developer Western Europe (@Msdev_WE) February 11, 2021Enjin’s Other Recent Developments In recent months, Enjin has been actively partnering with tech companies around the world. Last December, the blockchain firm revealed a collaboration with Atari, one of the oldest names in the video game industry. The partnership is set to bring the development of a decentralized gaming ecosystem, wherein Enjin will be creating Atari-based NFTs usable in its gaming portfolio. Last month, the world saw the partnership between Enjin and Kizuna and Miss Bitcoin to launch an NFT charity program. Kizuna is a hub for bitcoin (BTC) donations with no handling fees, and Miss Bitcoin is a popular blockchain entrepreneur. As BeInCrypto previously reported, the first campaign of the philanthropic program will involve tokenized art created by Japanese artists. Funds raised from the campaign will be directed to the Dream Possibility (DxP), a non-profit organization providing help for teenagers facing coronavirus-related issues. Moreover, in January, Enjin gained approval from the Japanese Virtual Currency Exchange Association to have its native ENJ token approved in Japan. To receive it, Enjin went through a year-and-a-half regulatory due diligence. NFTs Have Become Increasingly Popular NFTs are indeed gaining traction these days. On Feb. 10, for example, Pokemon-inspired blockchain gaming platform Axie Infinity reported the largest NFT sale in history. A user going by the moniker “Flying Falcon” doled out 888.25 ethereum (ETH) (approximately $1.5 million, at the time). The new owner of the NFT set commented: “We’re witnessing a historic moment; the rise of digital nations with their own system of clearly delineated, irrevocable property rights. Axie land has entertainment value, social value, and economic value in the form of future resource flows.” As DeFi researcher Cooper Turley outlined in his recent blog post, there are already almost 50 different platforms to mint NFTs. The post Microsoft and Enjin Roll Out NFT-Based Reward System to Praise Women in Science appeared first on BeInCrypto.
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Grayscale Purchases 53,000 ETH in One Day

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 13.02.2021 17:30
Cryptocurrency analytics company Glassnode points out that Grayscale has bought 195,000 ETH in February. Grayscale continues to have an appetite for cryptocurrency, according to Glassnode. Since the beginning of 2021, the value of Grayscale’s Ethereum under management has doubled. Glassnode tweeted that the ETH under Grayscale’s management now equals $5.5 billion. Some of this increase, no doubt, is due to the token’s new all-time-high prices. However, Grayscale made a series of purchases as well. One of these purchases, on Feb. 11, included 53,000 ETH. Since the Grayscale #Ethereum Trust reopened in February, at total of 195,000 ETH have flown into the trust.53,000 #ETH were added yesterday alone.The current AUM of the ETHE Trust is $5.5B – more than double since the beginning of the year.Chart https://t.co/vMSR92txy9 pic.twitter.com/SgZ3ntLDqk— glassnode (@glassnode) February 12, 2021Grayscale itself posted a tweet on Feb. 11 regarding its holdings. 02/11/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.Total AUM: $36.8 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/d7I2sPMwZ4— Grayscale (@Grayscale) February 11, 2021February Reopening The Ethereum purchases come after Grayscale reopened its Ethereum trust to qualified investors on Feb. 1. The fund had been closed over the winter holidays, and so institutional investors wanting to ride the ETH rising tide had to sit it out. Also in the first week, Grayscale purchased 83,678 ETH for a total of $139 million.This brought the company’s total Assets Under Management to $30 billion at then-current prices. Grayscale Diversifying The tweet from Grayscale also shows how much the company has diversified since bursting onto the scene in 2020. There are now trusts for Litecoin, Stellar, and ZCash. An XRP fund has been delisted, however. This is due to the potential exposure to (not to mention lack of demand for) XRP because of the SEC lawsuits against Ripple and two of its CEOs. In spite of the XRP removal, the company continues to grow. It filed with the State of Delaware for a variety of trusts related to DeFi projects. These include Aave, Polkadot, Uniswap (UNI), Cosmos (ATOM), Monero (XMR), Theta, (THETA) and Cardano (ADA). In total, Grayscale has filed for 33 registered trusts with the State of Delaware. Nine are currently live. Is this the End? Grayscale is by far the biggest active participant in the cryptocurrency market at the moment. However, it is possible that this will change over the course of 2021. On Feb. 11, the Canadian firm Purpose Investments launched North America’s first Bitcoin Exchange Traded Fund (ETF). The Purpose Bitcoin ETF will trade on the Toronto Exchange.  As ETFs have been the holy grail of institutional investment into cryptocurrency since 2017, when Gemini Trust applied for a bitcoin ETF, this news could shake the institutional investment world. If an American bitcoin ETF is approved by the SEC, the future flow of money to Grayscale by institutions who cannot or will not directly hold BTC is no longer guaranteed. The post Grayscale Purchases 53,000 ETH in One Day appeared first on BeInCrypto.
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Mark Cuban: Ethereum Better Than Bitcoin as Store of Value

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 14.02.2021 19:54
TV personality and investor Mark Cuban thinks Ethereum might be a better store of value than Bitcoin. Shark Tank: Ethereum vs Bitcoin In a recent podcast with DeFi blog The Defiant, billionaire investor Mark Cuban suggests Ethereum (ETH) could be the future of stores of value. Cuban, famous for his appearance on the television series Shark Tank, says cryptocurrency’s second token could even outdo Bitcoin (BTC) in that area. Cuban’s comments surprise few who know him. He questioned BTC in the past, and called its price surges bubble-like. Moreover, the sports billionaire also made clear in the podcast his excitement for smart contracts. More generally, however, Cuban is a fan of cryptocurrency. He instructed his basketball team, the Dallas Mavericks, to accept cryptocurrency payments. Moreover, in a recent ask-me-anything (AMA) on Reddit, Cuban revealed his cryptocurrency holdings, which include decentralized finance project Aave (AAVE). The Celebrity Effect Cuban isn’t the only celebrity or billionaire for that matter with a keen interest in the cryptocurrency and blockchain space. As has been thoroughly covered, Tesla’s Elon Musk is an enthusiastic participant in the cryptocurrency world. The eccentric billionaire owner of SpaceX tweets on cryptocurrency’s own everlasting meme, Dogecoin (DOGE). Last year, when Musk tweeted “One word: Doge”, the canine-themed cryptocurrency leapt over 1000%. Indeed, the continuous tweeting by the billionaire on the topic of cryptocurrencies led to a study that looked at the effects of those tweets on crypto-prices. Unsurprisingly, the study found a significant “abnormal effect” by Musk on both DOGE and BTC. Musk’s popularization of cryptocurrencies on Twitter even led to a number of other celebrities, Snoop Dogg among them, endorsing DOGE, approving its mainstream meme status. A New Class Although celebrities potentially treat cryptocurrency space as a vehicle for entertainment, a new class of cryptocurrency owning business is seriously investing in the space. Take MicroStrategy, for example. The business analytics firm made headlines in December for its bid to raise $600 million, all of which was destined for BTC. Recently, it purchased $10 million worth of the top-cryptocurrency in one go. Moreover, Musk’s own Tesla recently revealed in a filing that it scooped up $1.5 billion worth of BTC in January. Celebrities tend to follow the popular culture and vice versa. When Cuban, Musk and Snoop Dogg show interest in the industry, investment advice aside, they reflect public interest. As Bitcoin currently hovers under $50,000, more will likely have something to say. The post Mark Cuban: Ethereum Better Than Bitcoin as Store of Value appeared first on BeInCrypto.
Non-Fungible Tokens (NFTs) take the Limelight at Ethereum Conference

Non-Fungible Tokens (NFTs) take the Limelight at Ethereum Conference

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 15.02.2021 06:00
Non-fungible tokens have been gaining momentum over the past few months. Plenty of new projects were showcased at last week’s Ethereum Denver hackathon event. This year’s ETHDenver event ran from Feb. 5 to 12 but due to the COVID-19 pandemic, it was hosted online. This year, non-fungible tokens (NFTs) have been all the rage and industry data provider DeFiPrime has been looking into what has been grabbing the attention. The hackathon brings the Ethereum community together and allows developers to showcase new projects, some of which end up integrating themselves into the Ethereum ecosystem Most interesting #defi and NFT projects from @EthereumDenver hackathon in this thread(in no particular order)— defiprime (@defiprime) February 14, 2021NFTs Making an Impact In essence, non-fungible tokens are uniquely distinguishable digital assets which means no two are the same. They are usually issued on the Ethereum ERC-721 standard which creates verifiable digital scarcity. An NFT for a virtual plot of land recently sold for a record $1.5 million. Masterfile is a new platform that ties digital rights management to an NFT, securing it against copyright infringement. Its native MFT token is focused on Digital Rights Management (DRM) and the team hopes to enable permission-based NFT experiences. Another interesting platform is NFTea Room which is a DAO for determining accurate prices and information for NFTs. Currently, there are several different marketplaces such as OpenSea and Rarible but no platform offering accurate pricing information. A platform called HEATDEX aims to track the ‘hype’ and social sentiment of popular NFTs. Crypto artists can then use this to gauge what is hot and what is not in the world of digital art. Multiple prizes were also awarded to the winners of a number of bug bounties and competitions held over the week-long event. Cheers to another amazing year Spork Marmots! And congratulations to all who BUIDLed Here is our list of bounty, track & quadratic funding winners for #ETHDenver & #ColoradoJam 2021 https://t.co/JpM6eUylH2 #putasporkinit— ETHDenver (@EthereumDenver) February 13, 2021DeFi and Gas Savings In addition to the big NFT presence were a number of DeFi-oriented projects and proposals. Sublimate.Finance is one that lets users accept continuous financial support from anyone, paid automatically over time in ERC-20 tokens per block. FreeFund is a similar project that provides a decentralized crowdfunding platform that accepts crypto to kickstart projects. A project called Gasless Wallet allows users to pay transaction fees in any ERC-20 tokens, which means they do not have to buy ETH to interact with smart contracts. The Gasless Chain Agnostic Minter also helps improve the NFT minting process by offering gasless transaction and cross-chain compatibility. A protocol called Verager was introduced, allowing traders to use leverage without having to worry about liquidation. Another called JamBot works as a collective intelligence platform for DeFi education. It’s likely that many of these projects and proposals will disappear into the digital dust, but one or two could become the next big thing in the ever-evolving crypto and DeFi landscape. The post Non-Fungible Tokens (NFTs) take the Limelight at Ethereum Conference appeared first on BeInCrypto.
Intraday Market Analysis – Gold Attempts To Rebound

Inflation Peaked Again, Right?

Monica Kingsley Monica Kingsley 19.10.2021 08:32
S&P 500 upswing continues, and is dealing with the 4,470 resistance – but the credit markets don‘t confirm. Still, that‘s rather a sign of stock market strength than of pending doom. The break back above the 50-day moving average has very good odds of sticking, and the sectoral performance bodes well for further advances. Financials and consumer discretionaries liked the daily upswing in yields while tech and real estates fared well regardless. VIX is likely to probe even lower values, it seems. So, the open S&P 500 long position is working out well, and will likely continue to do so as higher yields just can‘t help the dollar rise. Inflation expectations are again turning up as we have moved from 1H 2021 Fed saying that inflation was transitory to the current phrase that inflation is transitory, but would last longer than we though. The next stage (arriving latest in Q1 2022) will likely be that inflation is sticky but we have tools to deal with it, followed by putting up a happy face that it‘s a good thing we have inflation after all. Silver will likely keep leading gold, and the nearest target for the gold to silver ratio is 73. Crucially, miners keep confirming the upswing, and the copper example bodes well for silver as both metals are essential for the green economy, talking which means that crude oil is also likely to keep rising. Time to extend the commodity profits even more at a time when crypto gains keep doing great. Reflation is slowly giving way to stagflation – GDP growth is slowing down while inflation isn‘t disappearing, to put it mildly. The copper upswing isn‘t so much a function of improving economy prospects but of record low stockpiles. Anyway, much more to look for in the commodities and precious metals bull markets that are likely to appreciate much more than stocks this decade. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook   S&P 500 again gapped up and closed at daily highs – the path of least resistance remains up. Credit Markets Debt instruments declined across the board, showing that adjusting to unyielding inflation takes precedence over raging approval of growth prospects. Gold, Silver and Miners Gold is having trouble overcoming $1,800, but I‘m looking for it to reverse Friday‘s decline before too long if silver and miners are any clue. Crude Oil Crude oil again continues extending gains while oil stocks confirm – dips are to be bought as $90 look to be taken on still this year. Copper Copper steep upswing was finally sold into, a little. Sideways consolidation of the high gained ground looks to be most probable next, followed by even higher prices. Bitcoin and Ethereum Weekend consolidation of crypto gains continues today, and is likely to give way to the bulls reasserting themselves – further gains are ahead. Summary Stock market rebound is likely to continue once HYG kicks in, and overcome 4,520 as the Fed‘s perceptions management regarding inflation seems to be working – Treasuries have mostly bought it, but I‘m looking for the long end of the curve to do particularly poorly. At the same time, inflation isn‘t yet breaking the stock bull run – new highs are ahead this year still, but the same goes for spending some time then in a trading range. Commodities and precious metals led by silver are best positioned to rise once the Fed moves to the above described fresh rationalization as to why inflation is running so hot. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals. Thank you,   Monica Kingsley Stock Trading Signals Gold Trading Signals Oil Trading Signals Copper Trading Signals Bitcoin Trading Signals www.monicakingsley.co mk@monicakingsley.co   * * * * * All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
Ever More Risk-On

Ever More Risk-On

Monica Kingsley Monica Kingsley 20.10.2021 16:12
S&P 500 keeps grinding higher, beyond 4,520 towards fresh ATHs. The VIX is approaching 15, and that means some volatility is likely to return as the current lull won‘t last indefinitely. Yields are steadily rising again, in line with my prior thesis of a summer lull followed by renewed march higher – the 10-year is at 1.65% already, but inflation expectations aren‘t as raging yet as in May when a similar rate was hit (this is part of the explanation why gold is lagging behind currently – it‘s not about hot present inflation figures only). Tech stocks couldn‘t care less – long gone seem the Mar and late Apr woes accompanied by similar Treasury moves. Value is similarly catching fire, and the improving market breadth bodes well for the stock market bulls. Credit markets have turned more constructive since these yesterday‘s words: (…) So far so good, and the stock market run continues without marked credit markets confirmation as the risk-on turn there isn‘t complete (yet). Treasury yields aren‘t retreating, yet tech is the driver of the S&P 500 upswing while value keeps treading water. Encouragingly, financials do well – it‘s cyclicals‘ time, and the open S&P 500 long position is very solidly profitable already. Not only that stock market profits are growing, I‘ve cashed some nice long copper profits before the overnight dive well below 4.70. Both crude oil and natural gas look like taking a breather – shallow one in case of black gold, and one probably more protracted around the 5.00 level (50-day moving average essentially) in case of its more volatile cousin. Cryptos open profits also keep doing great – there is no correction attempt to speak of really. Coming full circle to precious metals, all that‘s needed is one serious Fed policy misstep. Just imagine if they didn‘t deliver on Nov taper, or if the rate raising speculation was promptly snuffed while inflation fires just kept burning (no, this can‘t be blamed on supply chains really). The Fed is though well aware of market expectations that they themselves had been feeding since Jun. Still, they‘ll in my view easily make the Monday discussed intentional „mistake“: (…) we have moved from 1H 2021 Fed saying that inflation was transitory to the current phrase that inflation is transitory, but would last longer than we though. The next stage (arriving latest in Q1 2022) will likely be that inflation is sticky but we have tools to deal with it, followed by putting up a happy face that it‘s a good thing we have inflation after all. Reflation is slowly giving way to stagflation – GDP growth is slowing down while inflation isn‘t disappearing, to put it mildly. The copper upswing isn‘t so much a function of improving economy prospects but of record low stockpiles. Anyway, much more to look for in the commodities and precious metals bull markets that are likely to appreciate much more than stocks this decade. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook S&P 500 gapped again higher, and the steady move upwards continues – still without obstacles. Credit Markets Debt instruments have turned to risk-on, confirming the stock market advance. Rising yields don‘t look to be a problem for now. Gold, Silver and Miners Gold upswing hasn‘t been dashed, but merely delayed – the rest of the precious metals sector isn‘t as weak, and that‘s to be expected. Crude Oil Crude oil again didn‘t correct, and oil stocks didn‘t even pause yesterday – but as the pace of price increases is slowing down, the shallow downswing looks very much approaching (if not here already). Copper Copper is ready to consolidate prior steep gains, and its correction would likely be a sideways one not reaching overly far. Then, even higher prices await. Bitcoin and Ethereum Crypto gains consolidation with an upward bias continues today, and further gains are ahead – just like I wrote yesterday. Summary Stock market rebound goes on, practically nibbling at 4,520. Fresh ATHs are approaching, but given the ascent‘s pace and VIX, aren‘t probably a matter of a few short days. Still, the overall momentum is on the bulls‘ side as credit markets have also turned risk-on yesterday. Commodities aren‘t selling off in the least, but a brief oil and copper consolidation is likely now. Gold seems waiting for a dual confirmation of declining dollar and nominal yields, while silver isn‘t waiting – and it shouldn‘t as the white metal would be leading this unfolding upswing. Cryptos aren‘t hesitating either. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals. Thank you, Monica Kingsley Stock Trading Signals Gold Trading Signals Oil Trading Signals Copper Trading Signals Bitcoin Trading Signals www.monicakingsley.co mk@monicakingsley.co   * * * * * All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
This Is When Risk-On Returns

Whiff of Risk-Off Next

Finance Press Release Finance Press Release 22.10.2021 09:01
S&P 500 indeed overcame 4,520, but wavered at the same time – tech didn‘t rise. Volatility though remained meek, inching ever closer to 15, and the option traders also look a bit too complacent at the moment. A modest correction of recent sharp gains is the most likely scenario, especially since rising yields didn‘t sink tech even on a daily basis. Inflation expectations though have risen again, and that‘s tailwind for precious metals, which have taken advantage thereof just as much as of the declining dollar. The yesterday discussed dynamic of yields – inflation – inflation expectations and by extension the dollar, is playing out. So, the open S&P 500 long position remains solidly profitable while precious metals posture is improving, and commodities are entering a brief consolidation. Still, the yesterday open oil position is nicely in the black too, let alone crypto ones. Remembering yesterday‘s words: (…) Coming full circle to precious metals, all that‘s needed is one serious Fed policy misstep. Just imagine if they didn‘t deliver on Nov taper, or if the rate raising speculation was promptly snuffed while inflation fires just kept burning (no, this can‘t be blamed on supply chains really). The Fed is though well aware of market expectations that they themselves had been feeding since Jun. Still, they‘ll in my view easily make the Monday discussed intentional „mistake“ of attempting to pretend readiness to deploy tools to fight it (pretend is the key word), and finally spin inflation as something good. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook S&P 500 gapped a little higher again, but has met some selling into the close – consolidation looks to be ahead. Credit Markets Credit markets are still risk-on, but likely to take a breather, and that‘s likely to entail a pause in rising yields. Gold, Silver and Miners Gold and silver are swinging higher, and miners are on the move too – $1,800 awaits again. Should a whiff of risk-off indeed arrive, look for silver to waver more than gold. Crude Oil Crude oil intraday dip was again bought – too much and lasting downside isn‘t yet to be expected really. It‘s likely to remain a primarily sideways move before another upswing. Copper Copper smartly recovered, but perhaps a bit too fast – the prior two days‘ hesitation though means it won‘t likely keep the downside in check as well as oil did. Bitcoin and Ethereum Crypto gains are being consolidated, and the bears are finally stepping in – the lower knot shows that a downswing targeting $62-60K in Bitcoin might very well develop. Summary Stocks are likely to consolidate prior sharp gains before taking on the ATHs. Depending upon the credit markets risk-off breather I anticipate, the S&P 500 might retreat noticeably below 4,520, but this wouldn‘t mean the end of the upswing. The overall momentum remains on the bulls‘ side, including in commodities undergoing a brief (oil and copper) consolidation. Gold was indeed waiting for a dual confirmation of declining dollar and nominal yields, while silver wasn‘t cautious – and it shouldn‘t as the white metal would be leading this unfolding upswing. Finally, cryptos daily hesitation is adding to the mounting risk-off move odds.   Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.   Thank you,   Monica Kingsley Stock Trading Signals Gold Trading Signals Oil Trading Signals Copper Trading Signals Bitcoin Trading Signals www.monicakingsley.co mk@monicakingsley.co   * * * * * All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: ETH outperforming its peers, BTC struggles and XRP bearish

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: ETH outperforming its peers, BTC struggles and XRP bearish

FXStreet News FXStreet News 02.12.2021 17:11
Bitcoin refrains from making new highs as Tuesday’s gap-fill kills uptrend continuation. Ethereum outpaces its peers by barely hitting new all-time highs. XRP price again looking for direction as investors interest wanes. The Bitcoin bull rally got stopped in its tracks this week after BTC price came under more pressure from the Omicron story, and the resulting market turmoil. Ethereum price, however, came just $16 away from making a new record high, making gains in contrast to the other two majors. XRP saw investors buying the dip, but the uptrend hit a wall and got stopped in its tracks. Bitcoin price on the backfoot after a slowdown that made it lose bullish momentum Bitcoin (BTC) price popped higher at the beginning of the week, shrugging off investors' concerns about the new Covid variant. On Monday, BTC price opened up much higher than where it closed on Sunday, forming a gap in the chart. As a general rule, gaps get filled sooner rather than later, and this was the case on Monday, when bulls saw their early gains lost as BTC price retraced to fill the gap. Bears have seized the opportunity to defend the new monthly pivot for December at $59,586, which coincides with the start of a Fibonacci retracement.. Evidence of this weakening can be found in the Relative Strength Index (RSI), dipping back below 50, showing that bullish demand is starting to wane. BTC/USD daily chart As a result of current market uncertainty, expect potential investors to stay on the sidelines. Although the red descending trend line has been broken a little, it still holds importance and investors will probably only step in following a break back above it, helped, perhaps, by breaking news about vaccine effectiveness against the new strain. Either that or investors will sit on their hands and wait for another bounce off $53.350. Should that level fail to hold, however, and there is more bad news, expect a quick 6% drop towards the $50,000 psychological level and previous historical support. At that level bulls will likely mount a defence against a further downturn. Ethereum price outpaces its peers and could make new highs by the end of this week Ethereum (ETH) price, unlike Bitcoin and XRP, saw bulls run a tight and steep rally from $4,000 towards $4,936 in just five days. That was in a troubled market-facing considerable headwinds. That said, bulls now need to keep a tight stop on current ETH price action in order for a bull trap not to form, after the pull-back on profit-taking that occurred in the wake of price barely hitting an all-time high. ETH quickly reversed from its highs on Wednesday and tested the December pivot at $4,481. That is just $16 above the historical technical level marked up on the chart from November 12. This is a level of great importance and it will be very interesting to see if bulls can maintain price action above it, perhaps, helped by a possible bounce off the red top line that has so far been successfully capping price action to the upside. ETH/USD daily chart That red descending trend line, on the other hand, should support a break below $4,465, but if bulls flee the scene, expect a bull trap to form and price to run down lower. The first support tested in that decline is the historical double top at $4,060, with the monthly S1 support level at $4,000 just below there. The correction could already hold 18% of accrued losses from the highs of Wednesday, which would attract investors interested in the buying opportunity at those levels. Ethereum prices breaks all resistance barriers, with $5,000 within sight XRP price sees bulls rejected at $1.05, pushing price back towards $0.88 Ripple (XRP) price saw sparks fly in a nice uptrend on Wednesday, but then hit a bump in the road after the $1.05 level held firmly, following two failed tests to the upside. The rejection that squeezed prices to the downside on Tuesday, probably washed out quite a lot of investors and technical traders, and caused the lack of momentum and drive in XRP price action to tackle that $1.05 resistance. As the price fades further to the downside today, expect current market uncertainty to weigh further on XRP and see a possible retest of the short-term double bottom at $0.88. XRP/USD daily chart On a retest of that double bottom, a break looks more than likely, as the level holds no historical or other significance. That would hand bears the opportunity to push XRP price down towards either $0.84, for the third test of support at that level, or breakthrough and run down to $0.80, which is a prominent figure and the level of the monthly S1 pivot support level, combined with a historical significant support level at $0.78, originating from June 8. This would provide the perfect zone for a fade-in trade for XRP traders. XRP price appears to develop nasty bear trap
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets recover, but BTC could ruin the party

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets recover, but BTC could ruin the party

FXStreet News FXStreet News 09.12.2021 09:24
Akash Girimath Bitcoin price continues to stride with $53,687 and $56,276 as its short-term targets. Ethereum price pauses before retesting the $4,659, followed by the $4,777 hurdles. Ripple price to face a declining resistance level before it retests $0.956. Bitcoin price has been on a steady recovery phase after the recent flash crash. Ethereum and Ripple follow big crypto and are on their trajectories of retracement. The upswing for BTC is likely to continue, but investors need to note that a downswing might emerge such that a range forms. Bitcoin price eyes higher highs Bitcoin price is recovery from its December 4 crash and is currently hovering around $50,000 psychological level. This ascent comes as BTC tries to flip the inefficiency left by the bears during the recent sell-off. While $53,687 is still the short-term resistance barrier BTC wants to tag, investors need to know that BTC might sweep the swing low at $46,698 and set a trading range. Although this might result in a brief correction, it can serve as an opportunity to accumulate for sidelined buyers. Clearing $53,687 will open the path for Bitcoin price to tag the next level at $56,276. In total, this run-up would constitute an 11% ascent from the current position. BTC/USD 4-hour chart On the other hand, if Bitcoin price retraces to the extent that it produces a lower low below the December 4 swing low at $40,867, it will invalidate the bullish thesis. Ethereum price promptly follows BTC Ethereum price has rallied roughly 30% from its December 4 swing low at $3,370 and shows signs that it wants to go higher. The $4,493 resistance barrier is the first level ETH will encounter. Clearing this level will place $4,659 and $4,777 hurdles in its path. Ethereum will easily tag these levels, but the holders should keep a close eye on the all-time high at $4,878, as ETH might revisit. In a highly bullish case, Ethereum price could extend beyond its record level and set up a new one at $5,000. ETH/USD 4-hour chart While things are looking up for Ethereum price, a failure to breach through the $4,493 hurdle could indicate a weakness among buyers. If ETH retraces lower and produces a lower low below $3,890, it will invalidate the bullish thesis. Ripple price faces two hurdles Ripple price has seen a considerable recovery, similar to Bitcoin and Ethereum. As it stands, the XRP price looks ready to tackle the bear trend line extending from November. Any uptick in buying pressure pushes the remittance token toward this barrier. A decisive 4-hour candlestick close above this trend line at roughly $0.87 will set a higher high and confirm an uptrend. This move could attract sidelined buyers and propel XRP price to retest the $0.956 barrier. In total, this climb would represent a 15% gain from the current position. XRP/USD 4-hour chart On the contrary, if Ripple price fails to slice through the declining trend line, it will suggest that the sellers are not done offloading. In this situation, the XRP price will knock on the $0.764 support level. A breakdown of this barrier that produces a lower low will invalidate the bullish thesis for XRP.  
The 10 Public Companies With the Biggest Bitcoin Portfolios

FOMC helped Cryptos to hold important levels

Alex Kuptsikevich Alex Kuptsikevich 16.12.2021 08:33
Over the past 24 hours, total crypto market capitalisation rose by 2.1% to $2.24 trillion, recovering to the levels at the start of the week. Yesterday, the figure was close to the $2.0 trillion mark, but demand for risk assets recovery supported cryptos, providing around a 12% rise from the bottom to peak in the following four hours. On balance, the cryptocurrency fear and greed index reclaimed another point, rising to 29. The bulls seem to be putting in the necessary minimum effort to keep the positive picture on the charts of the major cryptocurrencies. But there isn’t much more to do now. Bitcoin is up 1.2% in the last 24 hours, trading at $48.7K. The bulls managed to push BTCUSD into the area above the 200-day moving average but are not getting away from it. Etherereum is adding 3.5%, clinging to the $4K. The strong market reaction after the FOMC pushed ETHUSD above this round level, but we saw some selling pressure in the morning. Short-term traders should closely watch whether the former support has turned into resistance. The pair of major cryptocurrencies appear to have been supported by a general increase in risk appetite in the markets following the FOMC announcements. However, investors should keep in mind that this upward move in traditional financial markets was more of a “buy the rumours, sell the facts” style reaction. Fundamentally, news about the faster QE tapering and greater willingness to raise rates has already been priced in during previous weeks. But at the same time, long-term investors should not lose sight of the natural tightening of financial conditions because of these moves, which will slowly but persistently reduce demand for risky assets. The main risk for the crypto market is that we have seen a monetary regime switch in the last couple of months, which promises to take some of the demand for crypto away..
(WETH) Wrapped Ether Explained. What Is It?

This hedge fund poured over $456 million into Ethereum in a week as ETH price dipped

FXStreet News FXStreet News 15.12.2021 16:08
A hedge fund has reaped the opportunity to buy the recent Ethereum price dip. Ether has recently dropped to a swing low of $3,675. Speculators believe the fund’s CEO caused fear, uncertainty and doubt to drive ETH price lower. While Ethereum price has risen significantly this year, the token has recently suffered several periods of volatility lately, reaching a swing low at $3,675. Ethereum fear and greed index is displaying a reading of 34, indicating fear which suggests that the token may be slightly oversold. A hedge fund has taken the opportunity to buy the ETH dip, pouring over $456 million into the cryptocurrency in less than two weeks. Hedge fund buys the Ethereum dip Cryptocurrency hedge fund Three Arrows Capital has purchased $56 million worth of Ether earlier on December 14. Etherscan shows that the firm, founded by Su Zhu, has transferred 14,833 ETH from Binance and Coinbase to its wallet. This is not the first time the hedge fund has purchased a large amount of Ethereum. Last week, Three Arrows Capital transferred $400 million in ETH from crypto exchanges FTX, Binance and Coinbase to its wallet. Crypto reporter Colin Wu first spotted the transactions and Zhu stated that he will continue to “bid hard on any panic dump,” and that purchasing 100,000 ETH is “dust,” suggesting that more purchases in Ether are yet to be made. However, the founder of the crypto hedge fund has been involved in controversy in the crypto community, as he revealed in November that he “abandoned Ethereum despite supporting it in the past.” His statement attracted attention from the crypto industry, and he has since softened his stance and even turned it around and said, “I love Ethereum and what it stands for.” Speculators in the crypto market suggested that Zhu tried to create fear, uncertainty and doubt to drive Ethereum price down to buy more ETH at a lower price. Ethereum price struggles with major headwind at $3,900 Ethereum price has rebounded slightly after a major drop toward the swing low at $3,675 on December 13. ETH continues to be sealed within a symmetrical triangle but is struggling to battle with resistance at the 200 twelve-hour Simple Moving Average (SMA) at $3,900 as buyers are slowly entering the market. An additional obstacle may appear at the 38.2% Fibonacci retracement level at $3,989, then at the 21 twelve-hour SMA at $4,112. A spike in buy orders may see Ethereum price tag the 50% retracement level at $4,139 then head toward the upper boundary of the prevailing chart pattern, coinciding with the 61.8% Fibonacci retracement level at $4,289. ETH/USDT 12-hour chart If Ethereum price slices above the aforementioned line of resistance, a 26% bounce toward $5,404 is on the radar. If selling pressure increases, Ethereum price may discover immediate support at the lower boundary of the governing technical pattern at $3,712 before sliding toward the swing low at $3,675.
SEC Rejects Valkyrie, Kryptoin Spot Bitcoin ETF Applications

The crypto market is melting before our eyes

Alex Kuptsikevich Alex Kuptsikevich 20.12.2021 08:53
The crypto market's capitalisation has fallen 2.8% in the last 24 hours to $2.166 trillion. Methodical pressure on the significant coins persists along with wary trading in traditional equity markets. The bitcoin price has been losing 2.5% in the last 24 hours and is 5.6% lower than it was exactly a week ago. Ether is down 3.4% and 4%, respectively. Some other top coins are also under severe pressure, but we cannot say that the dynamics are unambiguous. For example, XRP is up 5.5%, AVAX is up 22%, and Luna is up 30.7% in the last seven days. At the beginning of the year, institutional and investment bank interest provided cryptocurrencies with overperformance but now lowered demand for safety is becoming their Achilles' heel. The most methodical, albeit relatively measured, pressure has been seen in Bitcoin and Ether, which have been under bearish control for the past month and a half. According to equity and commodity market definitions, BTCUSD and ETHUSD have crossed the bear market threshold, having lost more than 20% of their peaks in early November. Bitcoin, meanwhile, is not gaining meaningful support on the decline towards the 200-day average. These are all signs that the bear market is entering its rights, as enthusiasts can no longer buy out any drawdowns. Generally speaking, a modest downside amplitude is not typical of cryptocurrencies, so short-term traders should be prepared for an explosion of volatility on a decline below meaningful levels. We assume that crucial support is concentrated near $40K for Bitcoin, a resistance level in January and a support level in October. Falling below this level could dramatically increase the coin's volatility and affect the entire market. For Ether, relatively measured volatility could continue up to the level of the 200-day moving average (just above 3300), which coincides with the area of extended consolidation in August and September and the start of the latest rally in October. Suppose Ether and Bitcoin fail to find strong buying below these levels as well. In that case, we risk seeing a true capitulation of the entire cryptocurrency market and a revision of the outlook to a more bearish one.
Bitcoin and Ethereum are staging a daily comeback

Bitcoin and Ethereum are staging a daily comeback

Monica Kingsley Monica Kingsley 30.12.2021 15:49
S&P 500 bulls stood their ground nicely, and the key sectors confirmed little willingness to turn the very short-term outlook more bearish than fits the little flag we‘re trading in currently – it‘s a bullish flag. Given the continued risk-off turn in bonds, the stock market setback could have been more than a tad deeper – that would be the conclusion at first glance. However, high yield corporate bonds held up much better than quality debt instruments, and that means the superficial look would have been misleading. Likewise as regards my other 2 signs out of the 3 yesterday presented ones – tech held up fine, and cryptos have practically erased yesterday‘s hesitation during today‘s premarket. The Santa Claus rally indeed hasn‘t yet run its course, and the slighly better than a coin toss odds of us not facing more than a very shallow correction, look to be materializing. As I wrote 2 days ago – What‘s Not to Love Here – we‘re entering 2022 with great open profits in both S&P 500 (entered aggressively at 4,672) and crude oil (entered with full force at $67.60). Both rides aren‘t yet over, copper is primed to catch up in the short run to the other commodities, gold is well bid at current levels, and together with silver waiting for a Fed misstep (market risk reappreciation) and inflation to start biting still some more while the real economy undergoes a soft patch (note however the very solid manufacturing data) with global liquidity remaining constrained even though the Fed didn‘t exactly taper much in Dec, and nominal yields taking a cautious and slow path towards my 2022 year end target of 1.80-2.00% on the 10-year Treasury. As I wrote prior Monday, we‘re looking at still positive 2022 returns in stocks – of course joined by commodities and precious metals. The path would be though probably a more turbulent one than was the case in 2021. We had a good year of strong gains, and I hope you have benefited. Thank you for all your appreciation and best wishes sent my way throughout all of 2021 and now by email or via Twitter – I would love to wish you a very Happy New Year – may 2022 keep bringing you happiness, success and good health. Enjoy the New Year‘s Eve celebrations, and see you again on Jan 03, 2022! Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook S&P 500 consolidation is still shaping up finely – and does so on solid internals. Particularly the tech resilience is a good omen. Credit Markets HYG could have indeed declined some more, but didn‘t. While I‘m not reading all too much into this signal individually, it fits the (still bullish) mozaic completed by other markets on my watch. That‘s the strength of intermarket analysis. Gold, Silver and Miners Gold and silver got on the defensive, but the bears didn‘t get too far – and the chance they could have, wasn‘t too bad. Rising yields were though countered by the declining dollar. Crude Oil Crude oil is likely to pause today, and will rally again once risk-on returns broadly, including into credit markets. For now, backing and filling above $76 is my leading very short-term scenario – Monday though will be a fresh day. Copper Copper is pausing, but the downswing didn‘t reach far, and was bought relatively fast. More consolidation above $4.40 looks likely, and it would come with a generally bullish bias that‘s apt to surprise on the upside. Similarly to precious metals though, patience. Bitcoin and Ethereum Bitcoin and Ethereum are staging a daily comeback, and as long as mid-Dec lows don‘t come in sight again, crypto prices can muddle through with a gently bullish bias. Summary Santa Claus isn‘t willing to give much ground, and the table is set for this nice rally to modestly continue today – somewhere more pronouncedly (S&P 500, cryptos) than elsewhere (commodities and precious metals). I‘m still looking for a positive first day of 2022 trading to help make up for end of this week‘s headwinds – it has been great that the bears couldn‘t find more strength yesterday. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.
The 10 Public Companies With the Biggest Bitcoin Portfolios

At the moment, contrary to ETHUSD and other altcoins, BTCUSD isn't increasing that much

Alex Kuptsikevich Alex Kuptsikevich 12.01.2022 09:02
The crypto market has again surpassed $2 trillion, adding almost 2.7% in the last 24 hours. Bitcoin, meanwhile, has not kept pace with the rise in altcoin prices: BTC strengthened by 1.45% against a 4% rise in ETH, while other leading coins added between 3% and 7%. The purchase of altcoins has intensified after the first cryptocurrency defended the $40K mark. This was like a sign of faith in the sector's short-term prospects, which again allowed enthusiasts to invest in potentially more undervalued coins and projects. The crypto Fear and Greed Index added 1 point to 22 overnight, but we can see that investors took the recent plunge as a buying opportunity. On the chart, bitcoin rebounded from a psychologically important support level for the second time since September. In addition, the RSI indicator on the daily charts came out of the oversold area, signalling a pause in the bearish momentum. However, it is too early to say that we are seeing the beginning of a new growth wave. There are several reasons for that. In this wave of decline, the RSI indicator reached lower lows than earlier in December and markedly lower levels in September and July, marking more persistent and prolonged selling than in previous episodes. Bitcoin's consolidation attempts this week is only a wobble near the bottom. A bullish reversal will be indicated by solid upward momentum in July or September. The mini rebound in December was quickly eaten away by the bears. BTCUSD is consolidating near the lower boundary of the descending channel. To say that we see more than just a bounce within this trend is only possible if it grew above 45k - where the previous local lows and the downside resistance line are concentrated. If bitcoin fails to develop an uptrend, it will seriously spoil sentiment for cryptocurrency traders, creating a toxic environment in the sector and putting selling back on the agenda, despite the prospects of individual projects.
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ETH Price (ETH To USD) To Decrease Even More Than Recently?

FXStreet News FXStreet News 19.01.2022 16:02
Ethereum price is still under pressure from the red descending trend line. ETH price is set to break $3,018, bringing the price below $3,000. Expect a further continuation to go hand-in-hand with current financial market sentiment. Ethereum (ETH) price is cracking under the strain and targeting $3,000, with the last line of defense at $3,018 under tremendous pressure from bears. The overall downtrend, dictated by the red descending trend line, and current global market headwinds are only contributing further to downside momentum. Expect a break towards $2,695 before analysts start to speak about a break below $2,000. Ethereum price needs to defend $2,695 to avert a 45% decline Ethereum price is flashing red warning lights all over the place as bears prepare to bomb the $3,000 barrier and price action starts to drill down on the last line of defense at $3,018. Although the area is a historical level and the monthly S1 support level falls in line with this area, it is set to probably break anyway as the mix of the established downtrend and global market headwinds is likely to be too much to bear. The Relative Strength Index (RSI) is close to being oversold; it could still firmly push beyond this level as it already traded around the area back on January 08. The next level of interest for bulls, which they are likely to defend tooth-and-claw, is $2,695, which provided support around September 21 and acted as entry-level for a 75% rally. With the RSI firmly in the oversold area, this should see some pickup in demand on the buy-side. If demand is not there and bulls are reluctant to engage with large demand sizes, expect a break that would see a rapid flood of selling pressure, with the target set to $2,000 as not many elements are in between to provide solid support. ETH/USD daily chart Bulls could sweat out the current market correction and easily make a U-turn once global markets start to return green numbers. A shift in sentiment would easily see Ethereum price bounce off $3,018 and touchback at $3,391. In case ETH should close above that level, it would be set to break out of the red descending trendline, reversing the downtrend, with even more investors and bulls then joining the rally, back up towards $4,000.00.
UK inflation reaches 30 year high

UK inflation reaches 30 year high

Walid Koudmani Walid Koudmani 19.01.2022 12:08
While the government and Bank of England have attempted to deal with the rise in prices and creeping inflation, today's figures continue to show that the path forward may be longer than expected. While a slight adjustment in monetary policy may contribute, today’s data showed the highest level in 30 years as the economy is still recovering from the pandemic and could take a significant amount of time to return to normal levels. Ultimately, this situation continues to impact everyday consumers who may see some very noticeable changes to their lifestyle and expenses if the ongoing trend continues. Crypto markets retreat as investors worry about increased regulation and central bank decisions Crypto markets along with other traditional risk assets continue to feel the pressure of incoming fiscal and monetary policy changes from central banks which is due to remove some of the excess liquidity from markets after the unprecedented support received by them, However, crypto is currently dealing a wide variety of negative news and potential increases in regulations which have contributed to the recent pullback across assets as Ethereum continues to hover above the key $3000 psychological level. While fundamental factors may have changed slightly, the second biggest coin is trading at the lowest level in several months and as traders await a catalyst, the situation remains potentially quite volatile. Activision Blizzard acquisition by Microsoft could be a game changer This $68,7 Billion deal could prove to be a turning point for Activision Blizzard, who has seen its share price drop more than 44% in the last year on the back of disappointing results and a number of corporate as well as internal issues. Microsoft announced it will be offering as many Activision Blizzard games as possible within Xbox Game Pass and PC Game Pass, which just reached 25 million subscribers, and might provide the much needed boost in player base. Furthermore, a more direct input in general operations decisions could aim to rectify decisional issues and bring a more united direction for the company moving forward. Investors already reacted to this news favourably with Activision Blizzard stock price gaining over 30% on Tuesday while Sony stock actually fell as shareholders consider the risks associated with this acquisition.  
Binance Coin price bound for 15% upswing as bulls make a comeback

Binance Coin price bound for 15% upswing as bulls make a comeback

FXStreet News FXStreet News 26.01.2022 16:40
Binance Coin has been range trading for the past four days between $335 and $389. BNB price shows bulls pushing bears against the high of this week, ready for a breakout. Expect bears to be stopped out and open momentum for bulls to run the price up to $452. Binance Coin (BNB) price was able to find a floor at $335 with the monthly S2 monthly support level as an area where bulls were interested in getting involved in the price action. BNB price is now quickly ramping up and squeezing bears out of their entries at $389, which is acting as the weekly high. With the squeeze, a pop is set to unfold towards $452, the first significant level of resistance that could halt the rally near-term. BNB price set for a bullish breakout Binance Coin sees bulls trading away from the monthly S2 support level at $335 tested twice and bulls jumping on the buying volume to get involved in the price action. Backed by the green ascending trendline, a bullish entry makes sense as the Relative Strength Index (RSI) has just exited oversold territory. As such, sellers do not have much incentive to stay further in their short positions as further gains look limited for now. BNB price thus offers a solid entry point, and bulls are now ready to break above $389, the weekly high and short-term cap that has kept BNB price limited to the upside this week. As bears are being pushed against that level, expect their stops to be run once bulls break above it, which will trigger a massive demand for buying volume and squeeze price action even higher. The monthly S1 does not hold much historical reference, so $452 makes the most sense with the 200-day Simple Moving Average just above as a cap, that needs to be broken to start speaking of an uptrend. BNB/USD daily chart In the wake of the Fed meeting later today, most investors will be holding their breath further into the afternoon. If the Fed delivers a hawkish tone or even hike today, that will set a negative tone for global markets and see a sharp decline in risk assets led by equities and cryptocurrencies. Expect BNB price action to result in bulls being pushed against the monthly S2 support and the green ascending trend line around $320-$335.
Ethereum Price Prediction: ETH targets $3,000

Ethereum Price Prediction: ETH targets $3,000

FXStreet News FXStreet News 04.02.2022 16:06
Ethereum price made a false break below a short-term trend line yesterday.ETH price breaks above $2,695 and is set for a run towards $3,018.This would mean 13% gains for ETH and a more favourable outlook for next week.Ethereum (ETH) price is set to book the best gains it has made for the whole of 2022, as a bullish candle has now formed on the back of a significant support level. With that move, many bears are getting hurt as they probably fell in the bear trap with the false break below the supportive short-term trend line. Expect more upside to come with global markets enjoying the rally in Amazon shares, which is spilling over into cryptocurrencies and lifting sentiment in ETH towards $3,018.ETH bulls are stabbing bears in the back with a trapEthereum price was dangling below a short-term trend line and looked quite heavy after the slippage (https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-crypto-sentiments-rolls-over-as-meta-shakes-nasdaq-202202031412) from META earnings. But that markets can change their minds overnight is proven yet again, after Amazon’s earnings fueled a booster rally which we are seeing today. This has spilled over into cryptocurrencies and is lifting sentiment in ETH prices with a firm break above $2,695, squeezing out bears in the process, who went short on the false break of the trend line, and it is now just a matter of time before they close out and take their losses.ETH price is thus set for a second rally today as those bears will need to revert to the buy-side volume (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-pushes-higher-eth-targeting-3-500-202202021800) to close and cut their losses. This will add a boost to ETH prices and could see Ethereum bulls hitting the price target at $3,018, taking out the $3,000 level, and setting the stage for next week. With that move, the red descending trend line could be broken, and with that, the downturn since December, finally (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-pushes-higher-eth-targeting-3-500-202202021800) breaking the chances for bears and setting the stage for a possible longer-term uptrend.ETH/USD daily chartNevertheless, there are still some earnings on the docket for today that could surprise to the downside and see those tailwinds (https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-crypto-markets-to-favor-bears-soon-202202020838) as quickly fade as they came. Expect that with that lack of support, ETH price will collapse back to $2,695 and start to weigh further on the bulls. Should that spiral into equities, pushing them firmly in the red, and impacting safe haven flow – expect a dip back towards $2,600.
Bitcoin, Ethereum, Metaverse Tokens Sink After Holiday Crypto Rally

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC bears to go extinct beyond $53,000

FXStreet News FXStreet News 07.02.2022 16:06
Bitcoin price looks overextended as it grapples with the 50-day SMA and the weekly resistance barrier at $42,816. Ethereum price pierces through the bearish breaker and approaches the 50-day SMA at $3,242. Ripple price approaches the $0.757 to $0.807 supply zone that could cut the uptrend short. Bitcoin price has seen tremendous gains over the past three days as it attempts to overcome a massive hurdle. While altcoins like Ethereum and Ripple have corresponded to this bullishness, investors need to exercise caution with fresh investments as a retracement could be around the corner. Bitcoin price faces a decisive moment Bitcoin price has risen 18% over the past four days and is currently hovering below the 50-day Simple Moving Average (SMA) and the weekly resistance barrier confluence at $42,816. If this uptrend is a bull trap, BTC is likely to see rejection followed by a retracement to the immediate support level at $8,481. A breakdown of the said barrier will knock the big crypto down to $34,752. In an extremely bearish case, Bitcoin price could revisit the $30,000 psychological barrier and collect the liquidity resting below it. BTC/USD 1-day chart If BTC produces a daily candlestick close above the breaker’s upper limit at $44,387, however, it will invalidate the bearish thesis. While this development will alleviate the sell-side pressure, it does not mean that Bitcoin price has flipped bullish. A daily candlestick close above $52,000 will produce a higher high and suggest the possible start of an uptrend. Ethereum price slithers close to bearish thesis invalidation Ethereum price has followed the big crypto and pierced the bearish breaker, ranging from $2,789 to $3,167. Any further bullish momentum will push ETH to climb higher and retest the 50-day SMA at $3,242. Assuming BTC retraces, investors can expect Ethereum price to face rejection at $3,242, leading to a 25% pullback to the weekly support level at $2,324. In a highly bearish case, Ethereum price could revisit the $1,730 weekly support level and collect the sell-side liquidity resting below it. ETH/USD 1-day chart Regardless of the bearish outlook, the Ethereum price can invalidate the short-term bearish outlook if it produces a daily candlestick close above the $3,167 resistance zone. A bullish scenario could be kick-started, however, if buyers push ETH to produce a swing high at $3,413. Ethereum price gains momentum to breakout to $3,300 Ripple price faces a blockade Ripple price broke out of its consolidation and rallied 25% from $0.604 to $0.754. This impressive move is currently retesting the weekly resistance barrier at $0.740, which rests below another hurdle that extends from $0.757 to $0.807. Rejection at this multi-resistance zone seems likely considering the situation in which Bitcoin is in, and investors can expect the Ripple price to retrace 16%, returning to the consolidation zone at $0.628. XRP/USD 1-day chart A daily candlestick close above the supply zone’s upper limit at $0.807 will signal a resurgence of buyers and indicate their willingness to move higher. In this case, Ripple price could set up a higher high by rallying 12% to $0.911.    
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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos to retrace before the bull run

FXStreet News FXStreet News 09.02.2022 16:19
Bitcoin price slows down its ascent after flipping the $42,748 hurdle into a foothold. Ethereum price contemplates a retracement after facing the 50-day SMA at $3,208. Ripple price looks ready for consolidation after a 51% ascent over the past four days. Bitcoin price rally is slowing, allowing bulls to take a breather before the next leg-up. While some might argue the short-term outlook looks bearish – due to the flash crash in January, the bigger picture reveals cryptocurrency (https://www.fxstreet.com/cryptocurrencies) markets still have the potential to go higher. A Wells Fargo report published in February reveals that cryptocurrency adoption is growing exponentially and, in many cases, resembles the growth curve of internet adoption. The American financial corporation even goes on to state the crypto sector could soon exit the initial phases of adoption and enter “an inflection point of hyper-adoption.” Wells Fargo Report: Internet usage history vs crypto users Bitcoin price at a decisive moment Bitcoin price rallied 25% in the last four days and set up a swing high at $45,539.(https://www.fxstreet.com/cryptocurrencies/news/bitcoin-begins-correction-after-45k-rejection-where-can-btc-price-bounce-next-202202081914) The rally rippled out, triggering copycat moves in other altcoins and the cryptocurrency market in general. Yet BTC failed to produce a daily candlestick close above the breaker’s upper limit at $44,387. So, as a result, the bearish outlook is still in play. Investors should be prepared for anything between a minor retracement and a full-blow bear trap. An optimistic scenario will likely see BTC retest the weekly support level at $39,481 before triggering the next leg-up. A more pessimistic scenario, however, would speculate that Bitcoin price could crash to $34,752. A breakdown of this support floor could be the key to triggering a crash to $30,000 or lower. BTC/USD 1-day chart While things look on the fence for Bitcoin price, (https://www.fxstreet.com/cryptocurrencies/bitcoin) a daily candlestick close above $44,387 will invalidate the bearish thesis. A bullish regime, however, will only kick-start if BTC produces a daily candlestick (https://www.fxstreet.com/rates-charts/chart/candlestick-patterns) close above $52,000.   Ethereum price takes a breather Ethereum (https://www.fxstreet.com/cryptocurrencies/ethereum) price seems to be undergoing a pullback (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-holds-above-3k-but-network-data-suggests-bulls-may-get-trapped-202202090153) as it faces off with the 50-day Simple Moving Average (SMA) at $3,208 while still hovering inside a bearish breaker, extending from $2,789 to $3,167. A rejection here could lead to a retracement to $2,812, where buyers have a chance at restarting the uptrend. Assuming the bullish momentum picks up, there is a good chance ETH could slice through the $3,208 and make a run for the $3,413 hurdle. The local top for Ethereum price could be capped around the convergence of the 50-day and 100-day SMAs at roughly $3,600. ETH/USD 1-day chart On the other hand, if Ethereum price fails to stay above $2,812, it will indicate that buyers are taking a backseat. This development will invalidate the bullish scenario and trigger a crash to the weekly support level at $2,324. Ethereum price could liquidate bulls if ETH falls below $3,000 Ripple price to reestablish directional bias Ripple price broke out of its ten-day consolidation (https://www.fxstreet.com/cryptocurrencies/news/xrp-price-could-easily-return-to-1-under-one-condition-202202081437) and rallied 51% in just four days. This run-up sliced through the $0.740 and $0.817 hurdles, flipping them into support levels. While this climb was impressive, XRP price is likely to retrace as investors begin to book profits. The resulting selling pressure could push Ripple price down to the $0.740 support level where buyers can band together for a comeback. In some cases, the U-turn might not arrive until a retest of the $0.595 to $0.632 demand zone. Regardless, investors can expect XRP price to run up to $1 and collect the liquidity resting above it. XRP/USD 1-day chart On the contrary, if the Ripple price fails to stay above the $0.595 to $0.632 demand zone, it will reveal the lack of bullish momentum and hint that a further descent is likely. In this case, XRP price will sweep below the $0.518 support level to collect the sell-side liquidity resting beneath. XRP price could easily return to $1 under one condition
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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Investors spooked by renewed geopolitical tensions

FXStreet News FXStreet News 17.02.2022 16:10
Bitcoin price gets caught in a bearish triangle as tensions in Ukraine flare up again. Ethereum price returns to pivotal support, money repatriation goes into the second day. XRP price in pennant ready for a bearish breakout under the current sentiment. Cryptocurrencies are on the back foot as investors are getting worried about the escalating situation between Ukraine and Russia, as more reports come in from shots in the Donbas region near Luhansk. As the situation does not seem to de-escalate, investors are pulling their money out of what was believed to be the start of a solid and longer-term relief rally that is stalling at the moment. With more downside pressure to come, expect all significant cryptocurrencies to fall back to supportive pivotal levels. Bitcoin price falls into a bearish triangle, set to dip back below $40,000 Bitcoin (BTC) price is getting battered on Thursday after a fade on Wednesday that could still be attributed to some short-term profit-taking. The extension of the falls seems to confirm that sentiment is yet again dipping below zero towards risk-off. Investors pulling out their funds preemptively is reflected with the sharp decline in the Relative Strength Index, where the sell-side demand is outpacing the buy-side demand. In this context, Bitcoin price will remain under pressure for the rest of the week and could be set to slip below $40,000 in the coming days as the situation in Ukraine is set to deteriorate again, potentially inflicting further damage to the market mood. BTC price sees bulls unable to hold price action above $44,088 and in the process is forming a descending trend line that, together with the base at $41,756, is forming a bearish triangle. Expect Bitcoin valuation to decline further as the tensions around Luhansk increase by the hour. Once the $41,756 support is broken, the road is open for a nosedive towards $39,780 with the $40,000 psychological level broken yet again to the downside. BTC/USD daily chart A hail mary could be provided by the 55-day Simple Moving Average at $42,340, which already provided support on February 9 and February 15. With that move, a sudden breakthrough in the peace talks could become the needed catalyst to improve the situation and dislocate Bitcoin price action from the drag of the geopolitical news that is weighing. Bitcoin would see the demand on the buy-side blow up and see a big pop above $44,088. Ethereum bulls are breaking their jaws on the 55-day SMA as the price fades further Ethereum (ETH) price is getting crushed against the 55-day Simple Moving Average (SMA) around $3,143, with bulls unfit to push and try to close price action above it. After three failed attempts in a row, it is becoming clear that the bullish support is wearing thin as, on Tuesday, the daily candle closed above there, and even if the next day ETH price opened above again, it closed below the 55-day SMA. On Wednesday, finally, both the open and the closing price were below the 55-day SMA. This proves that sentiment has shifted in just three trading days and looks set to fade further away from the 55-day SMA on Friday. Expect going forward in the next coming hours that bulls will get squeezed against the wall at $3,018 with both a pivotal level and the $3,000 marker a few dollars below there. As tensions mount, expect some more negative headlines, a breach in defense of the bulls with even the monthly pivot at $2,929 getting involved in the crosshairs. Depending on the severity and the further deterioration of the political situation in Ukraine and the correction in the stock markets, it is possible to see a nosedive towards $2,695. ETH/USD daily chart Global market sentiment is hanging on the lips of Ukraine and the geopolitical situation. With that, it is clear that once the situation gets resolved or de-escalates, markets can shift 180 degrees in a matter of seconds. That same rule applies to cryptocurrencies where Ethereum could pop back above the 55-day SMA and even set sail for $3,391, breaking the high of February and flirting with new highs for 2022. Bulls joining the rally will want to keep a close eye and be mindful of the RSI, as that would start to flirt with being overbought and, from there on, limiting any further big moves in the hours or next trading days to come. Ethereum short squeeze could trigger a spike to $4,000 XRP price set to lose 10% of market value as headline news breaks down relief rally Ripple (XRP) price is stuck in a pennant and is close to a breakout that looks set to be a bearish one. As global markets are continuing the fade from Wednesday, XRP price is breaking below the recent low and sees bears hammering down on the ascending side of the pennant. As more negative headlines cross the wires, expect this to add ammunition for bears to continue and start breaking the pennant to the downside. XRP price will look for support on the next support at hand, which comes in at $0.78, and depending on the severity of the news flow, that level should hold again as it did on February 14. If that is not the caseany further downside will be cut short by the double bottom around $0.75 from February 12 and 13 and the 55-day SMA coming in at or around that area. With that move, the RSI will be triggering some "oversold" red flags and see bears booking profit. XRP/USD daily chart A false bearish breakout could easily see bears trapped on entering on the break to the downside out of the pennant as bulls go in for the squeeze. That would mean that price shoots up towards $0.88 and takes out this week's high. Bears would be forced to change sides and join the buy-side demand to close their losing positions, adding to even more demand and possibly hitting $0.90 in the process. XRP set to explode towards $1.00, bulls hopeful over SEC vs Ripple case
Terra (LUNA) Price Went Up And The Most Popular Crypto Increased By 3.6% On Tuesday

Terra (LUNA) Price Went Up And The Most Popular Crypto Increased By 3.6% On Tuesday

Alex Kuptsikevich Alex Kuptsikevich 23.02.2022 08:35
The rebound of bitcoin began along with the growth of European stock indices at the beginning of the day. They corrected up after three days of decline on the crisis around Ukraine. Futures for the S&P 500 and Nasdaq, with which BTC has been highly correlated lately, also showed gains on Tuesday. So far, the rebound of risky assets, which includes cryptocurrencies, can be considered as a movement within a downtrend. Bitcoin has been trying to correct from levels close to the lows of February, but this is probably not the bottom yet. Expectations of a rate hike by the US Federal Reserve and rising geopolitical tensions are putting pressure on all risky assets. Despite the rather low levels of the Cryptocurrency Fear Index, the history of the indicator suggests that the best moments to enter were periods of falling into the 10 area. Meanwhile, Ricardo Salinas Pliego, one of the richest Mexican billionaires, called for not selling bitcoin during the fall. In his opinion, BTC will rise in the long term. Overall, Bitcoin is up 3.6% over the past day to 38,100, closing Tuesday higher after five days of decline. Ethereum gained 6.1% over the same time period, while other leading altcoins from the top ten showed mixed dynamics: from 4% growth in XRP to 13% in Terra. The total capitalization of the crypto market, according to CoinGecko, decreased by 1.5% over the day to $1.79 trillion. Altcoins grew worse than the first cryptocurrency, which led to an increase in the Bitcoin dominance index by 0.4%, to 40.3%. The index of fear and greed turned back again, losing 5 points to 25 and remaining in a state of "extreme fear".
(WETH) Wrapped Ether Explained. What Is It?

Crypto Update: Ethereum returns to support after a horror day

8 eightcap 8 eightcap 24.02.2022 11:34
Today the worst-case scenario happened, Russia invaded Ukraine. This set off another round of heavy selling on the Crypto markets. The top 10 suffered badly with just over 11% taken off their value at the day’s low. Ethereum was one of the worst-hit in the top 10, price plunged just over 12% to its new low. Currently, we’re watching the 2,350 support as this level did show plenty of demand back in January on the last key low set by sellers. Price so far, for now, has continued to see some demand at this point but let’s be honest these are not normal times. Crypto at this point is far from an alternative store of wealth. Coins are not in a safe-haven class at the moment, they’re flat out risk assets and are being treated that way. Gold on the other hand has resumed its safe-haven status. This is not a knock or attack on Crypto just the reality of the situation. Back to the Ethereum d1 chart. While I’d love to back in the current support level it’s hard under the current circumstances. Escalations could send prices lower and a break of support could set up a move back to the Jan low and a move through that point could suggest 2,000. If support can hold and things in Europe start to stabilize a little we could see a recovery rally. We will be looking for long tails showing exhaustion and fresh demand emerging. But we stress any longs will need to be quick-thinking if sellers return en masse. Ethereum D1 (ETHUSD) The post Crypto Update: Ethereum returns to support after a horror day appeared first on Eightcap.
Another Avalanche (AVAX) drawdown? | Crypto Market Talk | Swissquote - 25/05/22

Ethereum, AVAX, Terra, Solana And Other Layers 1 & 2 Projects Updates - Week 22/03-28/03/22

Crypto.com Accelerate the... Crypto.com Accelerate the... 30.03.2022 08:50
ETH’s Shanghai upgrade will boost EVM, reduce Layer-2 fees. BTC’s Lightning network completes it first stablecoin transaction. Polygon unveils a new token burn mechanism. MAR 29, 2022     Key Takeaways Ethereum (ETH)’s latest AllCoreDevs updates talked about the highly anticipated next upgrade named Shanghai, which will incorporate Ethereum Virtual Machine (EVM) upgrades, Beacon Chain withdrawals, L2 Fee reductions, and more.  Bitcoin (BTC)’s Lightning network completed its first stablecoin transaction. Layer 2 solution Polygon (MATIC) introduced a new token burn mechanism called ‘Mobile burn’ to move towards deflationary tokenomics and more predictable gas prices. Cronos (CRO) saw a +8.07% increase in total transactions to 25.04M, while its TVL grew to US$3.67B (+12.83% week-on-week). The total number of wallet addresses now stands at 489,967, up +6.31% from last week. Highlights BNB Chain to launch application-specific sidechains to reduce network strain Top 10 Ethereum wallets now hold 23.7% of total ETH supply: Santiment Bitcoin miner Iris Energy secures $71 million in equipment financing Avalanche bridge to add native support for Bitcoin, expanding opportunities for BTC in Avalanche DeFi Introducing Core: the new operating system for Web3 users Tether (USDT) Issued on Avalanche (AVAX) hits $351 Million Avalanche Foundation, OP3N launch $100M Web3 culture fund Terra’s LFG among largest new Bitcoin (BTC) holders: IntoTheBlock Algorand upgrades will boost speed and privacy, founder says Axie Infinity launches fee reform to scale transactions on Ronin sidechain Cardano set to hit major interoperability milestone as EVM compatible Layer 2 launches Blockchain middleware Pocket Network adds support for L2 solution Boba Layer 1 Project Metrics     Layer 2 Project Metrics    
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Is There Any Chance Of A Positive Ethereum Price Prediction? Cryptocurrency Ripple (XRP) Price Has Plunged!

Jason Sen Jason Sen 01.04.2022 12:27
Bitcoin bulls held prices above the 500 day moving average at 43600 for a buy signal targeting 46600/800 & the 200 day moving average at 48100/300. A high for the day exactly here & shorts here worked perfectly on the collapse from 48226 to 45800/600 & support at 44200/44000 for an easy 4000 pips. Ripple collapsed from just below very strong resistance at 9140/9160 & broke first support at 8450/00 yesterday to hit the next target of 8050/8000 before a low just 100 pips above support at 7700/7650. Ethereum made a high for the week exactly at key resistance 3450/3500. Shorts worked perfectly on the collapsed as far as support at 3210/3190. Longs need stops below 3150. Update daily by 06:00 GMT Today’s Analysis Bitcoin tests the best support for today at 44200/44000. Longs need stops below 43500. A break lower is a sell signal targeting 42000/41500. This is the last line of defence for bulls – a break below 41000 is a medium term sell signal, initially targeting 40000 & the March low at 37500/37000. Strong resistance at the 200 day moving average at 48100/300 over the weekend. Obviously bulls need a break above 48700 for a buy signal. Ripple holding above 8100 today allows a recovery to first resistance at 8400/8500. If we break higher look for 8730/50, perhaps as far as 8850. Further gains retest very strong resistance at 8950/90. Holding below 8050 tests support at 7700/7650. Longs need stops below 7600. A break lower is a sell signal targeting 7400/7350 then 7000/6950. Ethereum tests support at 3210/3190. Longs need stops below 3150. A break lower targets 312010 then very strong support at 3050/10. :ns 2950. A break below 2850 is a medium term sell signal. Key resistance at 3450/3500. Shorts need stops above 3550. A break higher is another buy signal targeting 3620/30 & 3710/40. Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
Can BTCUSD Reach Ca. $5M!? It's Approaching $50k At The Moment...

Can BTCUSD Reach Ca. $5M!? It's Approaching $50k At The Moment...

Alex Kuptsikevich Alex Kuptsikevich 04.04.2022 08:43
Bitcoin rose 0.6% over the past week, ending it at around $46,400. Ethereum added 8%, while other leading altcoins from the top ten rose in price from 0.1% (XRP) to 30% (Solana). BTC found a balance According to CoinMarketCap, the total capitalization of the crypto market increased by 1.3% over the week, to $2.15 trillion. The Bitcoin dominance index over the same period of time sank by 1.5% points, to 40.7% due to the growth of altcoins. At the beginning of the new week, the cryptocurrency index of fear and greed rose from 48 to 52, remaining within the neutral range. Bitcoin has corrected down since Thursday along with the decline in stock indices. Noticeable resistance was provided by the $48K level with the 200-day moving average passing close to it. Over the weekend, the first cryptocurrency found a balance near $46K. Bulls are preventing Bitcoin from falling The FxPro Analyst Team emphasised that buyers manage to keep bitcoin from falling to the area of previous peaks near $45, turning the former resistance into effective support. However, a breakout of the 200-day moving average is still required to confirm bullish sentiment. Breaking out of the $45-48K range could signal the start of a broader trend in the direction of the breakout. In early April, the commemorative 19 millionth coin was mined in the bitcoin network. At the moment, more than 90% of the total emission of the first cryptocurrency has been mined, which is limited to 21 million coins. Bitcoin can reach $4.8 million if it acquires the status of a global reserve asset, according to VanEck investment company. However, this scenario is unlikely. The top contender for the status of world reserve currency is now the Chinese yuan.
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Crypto Market Capitalization Update. Bitcoin, ETH And Solana News And Prices

Crypto.com Accelerate the... Crypto.com Accelerate the... 04.04.2022 12:08
Nearly $200M flowed into crypto the last 3 months, with BTC, SOL and ETH as the biggest gainers. Axie Infinity experienced a $625M hack. Trezor cold wallet users targeted with phishing emails. APR 04, 2022     Key Takeaways Crypto funds saw US$ 193M of capital inflow – the largest in 3 months. The top 3 cryptocurrencies according to the CoinShares report, were Bitcoin (BTC) at US$ 97.8M, Solana (SOL) at US$ 87.1M, and Ethereum (ETH) at US$ 10.2M. Popular Play-to-Earn blockchain game Axie Infinity saw its layer 2 bridge compromised and hacked totalling over US$ 625M worth in ETH and USDC. A detailed breakdown of the hack can be found on Ronin network’s substack. The hacked funds are being held at this address. Cold wallet provider Trezor is looking into a potential data breach which targeted users with phishing emails. Trezor followed with a Twitter update citing the breach could have been from a newsletter hosted on MailChimp. TradFi Gold Industry participants are looking to utilise blockchain technology to create an immutable record for physical deliverable gold across the globe. The Gold Bar Integrity Programme is aimed at improving transparency for consumers, investors and market participants. The general price, volume, and volatility indices were positive at +5.17%, +24.44%, and +105.07% respectively. Highlights Fed’s preferred inflation gauge up 6.4% in February to four-decade high US adds 431K jobs in March, as unemployment rate nears pre-pandemic level From taxes to electricity, blockchain adoption is growing in Austria CME group ‘looking at’ offering Solana, Cardano futures Tesla taps MakerDAO-powered lender for $7.8M real estate deal New funding round values Blockchain.com at $14B South Korea’s SK Square will spend $1.6B on semiconductors, blockchain Eldridge, A16z lead $620M financing round for fintech Cross River Bank Nasdaq-listed Microstrategy obtains $205M Bitcoin-backed loan to buy more BTC Sequoia, FTX Ventures and A16z lead $135M investment in LayerZero labs breaking down barriers between blockchains Blockchain security firm CertiK just raised $88M, SEC docs show Check the latest prices on Crypto.com/Price. Market Index Tokens   Metrics Price Volume Volatility Top Gainers ATOM (+12.83%)LINK (+10.73%)ETH (+9.86%) ATOM (+64.66%)EOS (+48.68%)XLM (+39.71%) ATOM (+154.73%)ETH (+136.16%)EOS (+93.54%) Top Losers – ADA (-21.85%) ADA (-40.58%)XMR (-9.99%) Benchmark BTC (+3.22%) BTC (+24.71%) BTC (+63.39%)       * Market index tokens: BTC, ETH, XMR, LINK, EOS, XLM, XTZ, ATOM, ADA, DOT DeFi Tokens   Metrics Price Volume Volatility Top Gainers FXS (+99.42%)AAVE (+48.80%)JOE (+42.89%) FXS (+694.82%)AAVE (+240.63%)COMP (+222.87%) FXS (+364.18%)ANC (+318.18%)YFI (+294.64%) Top Losers – SPELL (-12.32%)LDO (-0.07%) SPELL (-39.24%)LDO (-11.80%)LINK (-6.74%) Benchmark ETH (+9.86%) ETH (+28.81%) ETH (+136.16%)       *DeFI index tokens: AAVE, ANC, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI Other Tokens   Price Change (%) NFT Gaming Meme Top Gainers THETA (+10.16%)FLOW (+8.32%)WAXP (+7.8%) MBOX (+53.96%)POLIS (+12.21%)DAWN (+8.54%) SHIB (+3.9%)DOGE (+0.1%) Top Losers OGN (-3.82%) ATLAS (-3.59%)AXS (-3.44%)SAND (-1.55%) HOGE (-18.67%)MONA (-3.54%)       *NFT tokens: THETA, CHZ, ENJ, FLOW, FET, WAX, OGN, UOS, OMI*Gaming tokens: AXS, MANA, SAND, ALICE, YGG, MBOX, ILV, ATLAS, POLIS, DAWN*Meme tokens: DOGE, SHIB, MONA, HOGE, PEPECASH
ETHER Hitting $5000!? Altcoins: (ETH) Ethereum - Five bullish signals that suggest Ethereum price could hit $5,000

ETHER Hitting $5000!? Altcoins: (ETH) Ethereum - Five bullish signals that suggest Ethereum price could hit $5,000

FXStreet News FXStreet News 19.04.2022 16:36
Ethereum price is stuck trading between the 50-, 100- and 200-day SMAs, lacking volatility. A triple bottom setup around $2,652 could be the key to triggering an 85% upswing to retest the all-time high at $4,868. A three-day candlestick close below $2,439 will invalidate this outlook and potentially trigger a crash to $1,706 or lower. Ethereum price has been on a downswing since its all-time high in November 2021, but the development of recent events suggests that a change is coming. While there could be a temporary drop, a massive upswing is likely to begin afterward.   Article on Crypto: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM Ethereum price at a junction Ethereum price set a swing low at $2,652 on September 19 and rallied 83% in under two months to set an all-time high of $4,868. This impressive upswing was followed by a 55% downswing that pierced the $2,652 swing low. These two touches around the same level could be foreshadowing a triple bottom setup. For this technical formation to be complete, ETH needs to slide lower by 13% and tag the $2,652 support level again. This move will complete the pattern and reverse the trend favoring bulls. In such a case, Ethereum price is likely to make a run at the 50% retracement level at $3,287. However, investors need to exercise caution around the 200-day Simple Moving Average (SMA) at $3,492 and the $4,000 psychological level, as Ethereum price might face headwinds there Clearing the midpoint and flipping it into a support level will open the path for a move toward the range high at $4,868. In total, this run-up would constitute an 85% ascent and is likely to extend to the $5,000 psychological barrier.   Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM However, investors need to exercise caution around the 200-day Simple Moving Average (SMA) at $3,492 and the $4,000 psychological level, as Ethereum price might face headwinds there. Such a move is likely to push the Relative Strength Index (RSI) lower to the 38.16 level. The last two times RSI tagged this level was in June and July 2021, when ETH was forming a base that would eventually lead to a 185% gain. Therefore, the retracement forecasted by the technical perspective also supports a retest of the 38.16 level for RSI, hinting at a bullish outlook. ETH/USDT 1-day chart Supporting this optimistic outlook for Ethereum price is the exchange net position change indicator that tracks the 30-day outflow of ETH. Currently, this index shows that nearly 94,000 ETH has moved out of centralized entities’ wallets, suggesting a reduction in the sell-side pressure. Interestingly, this is the sixth time such a massive outflow has occurred, which in turn reveals the importance of this metric. ETH exchange net position flow.   Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun Furthermore, the number of one-hour active addresses on the Ethereum blockchain has hit a new all-time high at 60,330. This uptick suggests that new users or investors are interacting with the ETH blockchain and is considered a bullish indication. ETH 1-hour active addresses Lastly, the long-term bullish outlook for Ethereum price is perfectly portrayed by the supply of ETH present on exchanges. This level has been in a downtrend since July 2020 and has slumped from 29.69 million to 14.96 million, representing an 11.73 million outflow of ETH in less than two years. This development suggests that more investors are disinclined to sell and are moving their holdings to cold wallets or to DeFi platforms to earn interest, which indicates that they are optimistic about the performance of Ethereum price. ETH supply on exchanges A three-day candlestick close below $2,439 will invalidate this outlook by producing a lower low. In such a case, ETH bears could seize control and trigger a 30% crash to $1,706, which will allow market makers to collect the sell-stop liquidity.
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

(BTC) Bitcoin Priceslips To The Lows Of The Year. Crypto Regulations: Confusing Discussion In The US And The EU. Ether (ETH) And Monero (XMR) Highlighted

Alex Kuptsikevich Alex Kuptsikevich 25.04.2022 08:43
Bitcoin declined by 2.3% over the past week, ending it at around $39.5K. Ethereum lost 3.9%, while other leading altcoins in the top 10 fell from 2.2% (Solana) to 10.5% (XRP). The exception was Terra (+12.9%). On Monday, the pressure on cryptocurrencies continued, taking another 1.3% off bitcoin to 38.9k, sending it to test March lows. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Total crypto market capitalisation, according to CoinMarketCap, changed little over the week, remaining at 1.8 trillion, as a wave of buying in the first half of the week turned into a strong sell-off in the second. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Read next (by FXPro): What Moves Forex Rates? Strong US Dollar Affects British Pound (GBP), Japanese Yen (JPY) And CNH | FXMAG.COM Crypto Fear and Greed Index rose from 24 to 27 and returned to its starting point during the week. By Monday, the index had lost another point to 23, remaining in the extreme fear territory. Bitcoin has declined for the third consecutive week, along with stock indices. BTC tried to rise, renewing its highs in a week and a half, around $43,000. Thursday and Friday saw a sharp pullback along with the stock market, and bitcoin fell below the circular $40,000 level. Changpeng Zhao, the Binance's chief executive, said the adoption of cryptocurrencies would rise as geopolitical tensions escalate and the use of the dollar as a sanctions tool grows. He believes the US will lose out to the rest of the world if it continues to suppress bitcoin. Read next (by FXPro): Want To Exchange 100 GBP To USD? GBP/USD Below 1.3000! (GBP) British Pound Weakens! GBP To USD - 17-Months-Low! | FXMAG.COM A group of US congressmen have spoken out against mining cryptocurrencies using the environmentally damaging Proof-of-Work (PoW) consensus algorithm. They said that cryptocurrencies of particular concern are BTC, ETH, XMR and ZEC. The EU has discussed banning BTC trading because of its energy and environmental impact. Bitcoin's energy consumption continues to increase and is attracting the attention of environmental organisations and regulators.
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Top 3 Price Prediction (BTC) Bitcoin, (ETH) Ethereum, (XRP) Ripple: Official start to recovery rally

FXStreet News FXStreet News 04.05.2022 16:23
Bitcoin price prepares for its ascent to $42,100 after bouncing off a stable support level. Ethereum price needs to overcome the $3,000 barrier to have any chance at revisiting $3,500 or $4,000. Ripple price begins its journey to $0.70 after a recovery above the $0.60 support level. Bitcoin price has kick-started its attempt to move higher, picking up Ethereum and Ripple along with it. Investors can expect BTC to revisit Monday’s high and reevaluate directional bias from there. Bitcoin price begins its journey higher Bitcoin price bounces off the lower trend line of the ascending parallel channel, which is formed after drawing trendlines above and below three sets of higher highs and higher lows. Investors can expect BTC to slice through the 100-day Simple Moving Average (SMA) at $41,009, which is the first major hurdle. Doing so, will allow it to retest the 50-day SMA at $41,921, which coincides with the daily supply zone, extending from $43,981 to $41,921. This area of confluence is where the upside will be capped for the big crypto and would represent a 10% gain. BTC/USDT 3-day chart Regardless of the bullish outlook, a daily candlestick close below the $34,752 support level will invalidate the bullish thesis and trigger a crash to $30,000 or lower. Ethereum price to reverse the trend Ethereum price is in a medium-term ascending channel created by connecting its two higher highs and three higher lows since January 28. The third retest of the lower trend line has shown a bullish reaction – lead cryptocurrency BTC is recovering and influencing the rest of the market. Regardless of the bullishness, ETH needs to flip the 100-day SMA at $2,914 followed by the 50-day SMA at $3,069 to continue rising. This development is key to triggering a move that tags the 200-day SMA at $3,443. While a move to $3,500 is likely, a surge in buying pressure could extend the run-up to the $4,000 psychological level. ETH/USD 1-day chart On the other hand, a daily candlestick close below the weekly support level at $2,541 will indicate a resurgence of selling pressure and invalidate the bullish thesis. This could trigger a further crash to the $2,000 psychological level. https://youtu.be/hDdFa7mu7Jo Ripple price purges sell-side pressure Ripple price purged the downside pressure by collecting the liquidity resting below the $0.60 support after a 30% crash. XRP price has since moved back above the said foothold, indicating that buyers are in control. A resurgence of buying pressure is likely to propel XRP price up to the immediate hurdle at $0.696. Clearing this barrier will present two further resistance levels for Ripple bulls to overcome - the 50% retracement level at $0.735 and the 2022 volume point of control at $0.768. For now, the market structure looks uncertain due to the choppiness of Bitcoin. Therefore, investors can expect a local top to form around $0.768, representing a 25% ascent from the current position at $0.615. XRP/USD 1-day chart A daily candlestick close below the $0.601 support level will produce a lower low and invalidate the bullish thesis. In such a case, XRP price is likely to crash to the $0.548 support level. https://youtu.be/hBoG1pklXYI
Crypto: How To Estimate A Risk And Take A Profit?

What Is (DYDX)? dYdX Cryptocurrency Supporting Perpetual Trading - Altcoins of Interest

Rebecca Duthie Rebecca Duthie 09.05.2022 13:54
Summary: How does dYdX work? A look into what a perpetual cryptocurrency trading exchange is. Advantages of investing in the dYdX crypto exchange. Past and future price performance. Read next: ($GARI) Gari Network's Future Looks Bright As Investors Await New Advancements.  dYdD is a decentralised trading platform that is used for cryptocurrency margin trading. Dydx is a decentralised trading platform that is used for cryptocurrency margin trading for assets such as ETH, BTC, SOL, DOT and more. The bulk of the trading happens on the Ethereum blockchain, however, with the recent launch of layer 2, the Dydx exchange can be used for inexpensive, instantly settled trades. Dydx has successfully filled a niche market in the world of cryptocurrencies. Since the launch of this platform in September 2021, they have added many features, including lending and borrowing services to decentralise the trading experience. The exchange has a market cap of $258.2 million, a circulating supply of 65569295 with a max of 1 billion. dYdX is a leading crypto exchange that supports perpetual trading. Dydx is a leading crypto exchange that supports perpetual trading. It trades on the ethereum block chain using smart contracts and no intermediaries. Perpetual trading on cryptocurrencies are financial derivatives that enable traders to bet on crypto asset price movements, using leverage without owning the underlying asset. Some advantages of using this method are: Increased flexibility of trades by allowing both long and short trades. Increased leverage. Dydx is aiming at trading for everyone. They are building an open platform for crypto financial products, which is powered by the Ethereum blockchain. dYdX works in the following way: The creation of smart contracts has allowed for cryptocurrency exchanges to create decentralised liquidity pools, collateralisation and lending across popular protocols like Uniswap, Sushi and Compound. dYdX took all of the best decentralised financial technologies and combined them to form a first-of-its-kind cryptocurrency derivatives exchange using crowd sourced liquidity only. To explain this concept more, it means that when you deposit collateral to open a leveraged trading position, you are borrowing from a decentralised liquidity pool that is funded entirely by other traders. Dydx Layer 1 blockchain: Layer 1 is a highly liquid, decentralised exchange for both crypto margin trading and for spot trading. On this layer it is possible to leverage up to 5x your position. As long as users collateralise correctly, it is fast and efficient to borrow funds for your positions. dYdX claims to have built the fastest and most powerful decentralised exchange ever through their layer 2 blockchain. Advantages of layer 2: No gas cost and lower fees: when users deposit to layer 2, the user will no longer be required to pay fees to miners. Fast withdrawals: layer 2 does not have a waiting period to withdraw funds. Security and privacy: increased security and privacy via zero-knowledge rollups*. Very fast: trades are instantly executed and confirmed on the blockchain within hours. Mobile friendly: can be used on any device thanks to upgrades. Cross-margining : users are able to access leverage across positions in multiple markets from a single account. USDC collateral: dYdX allows users to provide USDC as collateral in their trades. *Zero-knowledge rollups is a Layer 2 scalability solution that allows blockchains to validate transactions faster whilst ensuring gas fees remain low. How to trade perpetually with Dydx: Download the dYdX trading app and open it. Connect your crypto wallet to the app. Deposit funds into the wallet and then select the “trade” option. Open a trading position with selected leverage and limits. Use the app to track your position's performance. Read next: (SOL) Solana Coin Continues to Grow - Popular Altcoins, SOL: What Is It & How Does It Work?  The dYdX token, the platform gives dYdX tokens to its users in the form of generous rewards. Advantages of the dYdX token: dYdX liquidity staking pool: this feature is important for keeping the exchange alive and financially supported. Trading rewards: it is possible to earn dYdX tokens just by trading on the platform. Discounted trading fees: if users hold dYdX tokens in their wallet, they can receive a 3% discount on trading fees. Governance token: dydx is also used for governance of the protocol, which gives holders voting rights. PAST, PRESENT AND FUTURE PRICE When the token was first launched the price spiked and showed promise, since then the price has been on a consistent downward trend. In general the crypto market is volatile, this is shown in the price changes for this cryptocurrency. Currently with the negative global investor sentiment, the price of cryptos have been falling in general over the past months, which could be a reason this tokens value is currently trading so low. The coin price is forecasted to increase in the future. In 2022, the price is expected to increase by 78% and is expected to continue on this upward trend for the next 5 years. dYdx cryptocurrency Price Chart Sources: academy.shrimp.io. Dydx.exchange, cryptoadventure.com, trading-education.com
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Is Crypto Market Crash Coming? Where to exit (ETH) Ethereum before it crashes to $1,700

FXStreet News FXStreet News 10.05.2022 16:50
Ethereum price bounces off the $2,200 support level after a 12% crash over the last three days. Investors can expect a retest of $2,541 before ETH crashes to $1,730 to collect the sell-stop liquidity. A three-day candlestick close above $3,079 will invalidate the bearish thesis by producing a higher high. Ethereum price has sealed its bearish fate after breaching the consolidation pattern’s lower trend line on May 6. This development has worsened the situation and caused a steep correction for ETH. Ethereum price provides an opportunity Ethereum price set three distinctive higher lows and two higher highs since the January 22 crash. Connecting the swing points using trend lines reveals an ascending parallel channel. This technical formation ideally results in a bearish breakout On May 6, Ethereum price breached the ascending parallel channel’s lower trend line, indicating a breakout. This downswing move caught traction and led to an 18% drop in ETH price in less than a week. At the time of writing, Ethereum price is trading around the $2,199 support level, where buyers seem to be scooping ETH up at a discount. However, considering where Bitcoin price stands, further downside seems more likely. Hence, investors need to be cautious and smart in buying the dips. There might, however, be a minor uptick in buying pressure that could push Ethereum price up to the $2,541 hurdle. This level is likely where the upside is capped for ETH before sellers take control. ETH/USDT 1-day chart Supporting this downswing in Ethereum price is the 30-day intraday Market Value to Realized Value (MVRV). This on-chain metric is used to determine the average profit/loss of investors that purchased ETH over the past month. Based on Santiment’s research, a value ranging from -10% to -15% is termed an “opportunity zone,” since the short-term holders are at a loss and are less likely to sell. However, for ETH, the local base was formed around -16%, which is where the MVRV is currently at and also explains the recent uptick in buying pressure. However, there is another potential base around -30%, where ETH stabilized after crashes in May 2021 and January 2022. Therefore, the chances of Ethereum price heading to $1,730 are high as portrayed by the MVRV 30-day chart. ETH 30-day MVRV intraday Further worsening the situation for bulls is the supply distribution seen across whales holding between 100,000 to 10 million ETH. The first set of wallets – those holding between 100,000 and 1,000,000 ETH – has dropped from 1,452 to 135 over the past three months. For the other group, these numbers have dipped from eight to five. The generalized decline in institutions holding Ethereum indicates that they are not confident in the performance of ETH price in the near future. ETH supply distribution Driving the bearish thesis home is the recent uptick in the supply of ETH on exchanges from 14.86 million to 15.37 million since April 20. This 3.4% surge indicates that investors are moving their tokens to centralized platforms to potentially sell and also adds credence to the outlook described in the supply distribution chart above. ETH supply on exchanges While the bearish outlook seems plausible, a spike in bullish momentum could alleviate the sell-side pressure. However, a three-day candlestick close above $3,079 will invalidate the bearish thesis by recovering its losses. In such a case, Ethereum price could further rally to $3,703 and set a higher high, confirming the start of an uptrend.
Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Geco One Geco One 16.05.2022 15:12
Between 5 and 12 May 2022, Bitcoin fell by over $13,000, i.e. over 33%. It increased Bitcoin depreciation which started on 28 March, to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Such a significant sale caused the exchange of the oldest virtual currency to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. However, considering that the demand reaction that appeared last weekend was much more modest than the previous ones around this support, it seems highly probable that it will be only a temporary correction, after which the BTC rate will return to losing value. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM If this sell-off leads to a sustained drop below $24,000, we will have to prepare for a further depreciation towards $24,000 or even below $20,000. The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. The demand reaction that appeared last weekend was much more modest than the rebound observed in this region in May, June and July 2021. We assume that it will be only a correction, after which ETH will return to around $1,750. A permanent drop below this price level could open the door for further declines to $1,400 — around this price is another significant support around which we could expect a greater demand response. Solana (SOL) Loses Ca. 77% Looking at the Solana quotes, we notice that the price of this cryptocurrency fell between 2 April and 12 May this year by almost 77%, dropping to the area of technical support of $37, which was the lowest level since August 2021. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM In the second half of last week, the demand reaction appeared. Although it could signal a potential rebound towards the previously defeated support (now resistance) of $78, taking into account the general pessimism currently observed in the broad cryptocurrency market, it seems that the increases can end much earlier. The SOL rate could return to around $37 or even fall below this support if this happens. It would indicate a potential for further depreciation towards $23. The current situation on the Cardano quotes is also very interesting. The price fell between 4 April and 12 May this year by 69%, dropping to the area of technical support of $0.40, which was the lowest level since the beginning of February 2021. It is where the demand response appeared, and if the several-day increases continued, the ADA rate could even return to the area of previously defeated support (now resistance) of $0.75. However, there are many indications that this rebound will ultimately turn out to be only a correction, after which Cardano’s quotations will return to the area of $0.40, or they will drop even lower. Start your trading adventure with Geco.one
Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 18.05.2022 08:37
Bitcoin has been hovering around the 30K mark for a second day, forcing the rest of the crypto market to balance declines and gains. Ethereum has lost 1.2% in 24 hours but remains near 2,000. Altcoins from the top ten are mostly declining, losing between 0.7% (DogeCoin) and 3.8% (Polkadot). Tron is gaining 1.7% but has been little changed since the end of last week. Total crypto market capitalisation, according to CoinMarketCap, declined 1.1% overnight to $1.29 trillion. Bitcoin’s dominance index remained unchanged at 44.3%. Bitcoin has stalled at the psychologically significant 30K level The Cryptocurrency Fear and Greed Index was up 4 points to 12 by Wednesday and remains in “extreme fear”. The index’s recovery from lows since 2019 is due to a waning selloff but not a market reversal to growth. Bitcoin has stalled at the psychologically significant 30K level and has also lost the momentum of the rebound at the 76.4% Fibonacci line from the downward move from late March to last Thursday’s lows. This is a typical shallow counter-trend correction. The inability of the market to develop the offensive from the current levels would raise the question that the final target for the downtrend would be the 161.8% area of that move, which is near $11.3K. Such a setback would cancel out all upside momentum from October 2020. So far, this scenario looks exceptionally pessimistic and needs to converge the disappointment of crypto-neophytes on top of an actual collapse of the global economy and stock market. Such a dip would leave Bitcoin’s price at only 16% of its peak, which has happened several times in its history. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM However, a significant drop below previous cyclical highs ($20K) would be unusual, although Bitcoin was previously repurchased on similar drawdowns. Perhaps a more cautious scenario would be a dip into the $20-23K area to close the gap at the end of 2020 or a return to the 2017 highs. The realist-optimistic scenario points to the possibility of cautious buying by long-term investors from current levels. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar However, it does not suggest a new wave of explosive growth, as financial conditions and a return to the area at the start of 2021 are disappointing for those investors who have been buying cryptocurrencies as a way to make a quick buck. Moreover, inflation has weaned 10% off the dollar’s purchasing power over this period. Among the news that caught our eye were: According to CoinShares, institutional investors invested $274 million in crypto funds last week, a record since the start of the year. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar. According to the Congressional Research Service (CRS), the stable coin market needs strict regulation. Because of the speculative nature of cryptocurrencies, investors need more protection, or they could lose confidence in the markets, SEC chief Gary Gensler said. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM The Portuguese authorities are considering introducing a tax on income earned from investments in digital assets. Dogecoin co-founder Billy Marcus called 95% of crypto-assets “trash” and suggested that 70% of investors don’t even understand the fundamentals of the crypto market.
The Collapse Of The Silicon Valley Bank Weakened The Dollar And USD/JPY But Supported EUR/USD, AUD/USD, And GBP/USD

End Of Tornado Cash? Nvidia Stock Drops As Ethereum Merge Is Expected To Be Introduced Shortly

Saxo Bank Saxo Bank 10.08.2022 11:00
Summary:  The U.S. Department of Treasury has blacklisted the largest mixer on Ethereum used in hiding blockchain traces. On to companies, Coinbase and BlackRock have announced a partnership in trading and custody of Bitcoin, while Nvidia feels the heat of the upcoming Ethereum merge. U.S. Sanctioned Tornado Cash Yesterday, the U.S. Department of Treasury blacklisted every smart contract and address connected to Ethereum-based mixer Tornado Cash for its use in money laundering. The latter is a popular decentralized protocol used to hide the blockchain trace of Ether and Ethereum-based tokens. It has allegedly been used by North Korean state-backed hacking group Lazarus Group in a $615mn hack earlier this year, however, the protocol is also used by ordinary people wanting to interact on Ethereum with a higher degree of privacy. Elliptic, a blockchain analytics company, has estimated that over $1.5bn has been laundered through Tornado Cash out of a total amount of $7bn. The blacklisting bans American citizens alongside American entities such as exchanges from engaging with clients depositing funds from Tornado Cash. Since the protocol is fully decentralized, governments cannot disable the protocol itself. However, since many crypto users and exchanges are based in the US, the blacklisting might be enough to remove sufficient liquidity from the protocol for it to work properly. This was somewhat the case some hours after the announcement yesterday, as the issuer behind the second-largest stablecoin Circle froze every USDC in Tornado Cash’s smart contracts, meaning users are not able to transfer them out of Tornado Cash anymore. Coinbase and BlackRock announce partnership Coinbase announced a partnership with the world’s largest asset manager BlackRock last week. The partnership enables institutional clients of BlackRock to access Bitcoin brokerage and custody facilitated by Coinbase but handled through their existing portfolio management. Even though we are in a bear market it does genuinely not seem that institutions are shy to interact with crypto, as also both Morgan Stanley and Citigroup have announced positions concerning crypto in the past week to strengthen their internal crypto resources. On another note, Coinbase is set to announce its Q2 earnings later today. Nvidia stock drops. Ethereum got involved As Ethereum miners generated a record-high revenue of $16.5bn in 2021 by validating blocks on the network, there was an equal demand for GPUs utilized in mining operations. Nvidia has for years been the main supplier of GPUs to Ethereum miners. Although Nvidia does not directly state its revenue from providing GPUs to mainly Ethereum miners, it is anticipated that the company generates an appreciable part of its revenue from miners. However, that may soon come to an end, since the Ethereum merge is expected to happen sometime next month, completely taking miners off the equation. Since miners have known this for some time, it seems few acquire new equipment, as it will be challenging to break even in such a short period. It seems Nvidia felt this in its second quarter (ended 31st July). The company cut its expected revenue to $6.7bn from $8.1bn yesterday while simultaneously writing down its inventory by $1.3bn, mainly since the secondary market of GPUs has been flooded by cheap GPUs. If the merge occurs successfully in September, then the market of GPUs used in Ethereum mining will by default never exist again. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Souce: https://www.home.saxo/content/articles/cryptocurrencies/crypto-weekly-09082022
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Crypto: A Breakthrough!? Ethereum: What Is Merge? The Future Is Now?

Kucoin Blog Kucoin Blog 10.08.2022 14:20
Table of Contents: · What is the Merge? · When is the Merge happening? · Why does the Merge matter? · What is the impact of the Merge? · What might happen in the future? · Closing thoughts The Merge is the most significant upgrade in the history of Ethereum. On August 10, KuCoin launches the ‘ETH Merge Gold Rush’ event for the upgrade of Ethereum. In this event, users can know more about the latest Merge-related updates and get the best crypto earning opportunities during the Merge.   This ‘ETH Merge Gold Rush’ event includes the following core segments: · Learn more about the ETH Merge countdown and get the latest Merge news. · Convenient Spot/Futures trading that supports assets associated with Merge such as ETH, ETC, Matic, Op, etc. · Participate in ETH PoS mining for earnings. Staking promotions will be available soon, including ETH PoS mining and other staking products. · Join KuCoin communities to participate in Merge-related discussions.   For more details about this event, please visit here. Now, let’s get started with what ETH Merge is.   What is the Merge? Ethereum, the blockchain network that supports the second-largest cryptocurrency by market capitalization, is inching closer to implementing a significant upgrade. Dubbed the “Merge,” while this sounds grandiose and dramatic, in fact, it signifies an upgrade that will see Ethereum transition from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) model.  Specifically, the Merge will mark the joining of Ethereum’s execution layer, which runs on a PoW model, and the Beacon Chain, which is Ethereum’s consensus layer, which is based on a PoS model. The mainnet currently holds all Ethereum accounts, balances, and smart contracts.  On the other hand, the Beacon chain shipped separately from the mainnet, and it currently runs parallel to the mainnet. After the two layers merge, Ethereum will become a PoS network. As such, validator nodes will take over the role of generating blocks, replacing miners who use energy-intensive rigs.   When is the Merge Happening? The Merge is set to ship between Q3/Q4 2022. Ethereum developers are working with a soft deadline of September 19. However, this date could change depending on the success of the final testnet merge, which is dubbed ‘Goerli.’ Goerli is set for mid-August.   Why Does the Merge Matter? The Merge will introduce significant changes to the Ethereum network. For instance, the Merge will reduce Ethereum’s energy consumption by 99.95%, making the network eco-friendly and sustainable. Furthermore, considering ESG concerns have limited Ethereum’s adoption, the Merge will play a massive role in boosting the network’s adoption.  Additionally, the Merge will make Ethereum more scalable. At the moment, the Ethereum network handles around 30 transactions per second. Once the network transitions to a PoS consensus model, it will set the stage for the four additional phases. At their completion, the Ethereum blockchain will be able to process 100,000 transactions per second, according to co-founder Vitalik Buterin.  After the Merge, validators will secure the Ethereum network by staking ETH. Validators will get rewards from the network’s transaction fees. To prevent malicious activities, Ethereum will cut a portion of a validator’s stake ETH if they accept invalid blocks.  Moreover, the Merge will prepare Ethereum for sharding, splitting the network into small bits to increase transaction speeds and cut costs. This development will help Ethereum cement its position as the largest network for non-fungible tokens (NFTs) and decentralized finance (DeFi).   What is the Impact of the Merge? After the Merge, Ethereum might introduce triple halving. Specifically, the triple halving will reduce ETH’s supply by approximately 80% - 90%, which is almost equal to halving the Bitcoin system three times.  By transitioning to a PoS model, most ETH will go to staking, effectively minimizing the amount of ETH in the market.   What Might Happen in the Future? By upgrading to a PoS consensus model, Ethereum will address its energy-consumption issues, proving that an energy-efficient and sustainable blockchain can operate on a massive scale. Additionally, the network will eventually introduce upgrades that might introduce fast transactions and lower gas fees. These changes will likely attract more institutions and Web 3.0 projects to build on the network.  While a PoS model might introduce some level of centralization in Ethereum, the same model will lower the entry barrier for validators. The PoS model will only require validators to stake ETH and earn rewards. Users with low amounts of ETH can pool their tokens in a staking pool and earn block rewards. To this end, Ethereum is set to attract more users, making it more decentralized.   Closing Thoughts Ethereum’s transition to a PoS consensus model comes with numerous benefits. Post Merge, the network will allow ETH holders to stake their holdings and earn rewards by validating transactions. Additionally, the Merge will prepare Ethereum for future upgrades that might make the network more scalable, secure, and sustainable.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>>     Source: https://www.kucoin.com/pl/blog/everything-you-need-to-know-about-the-ethereum-merge?title=Everything%20You%20Need%20to%20Know%20About%20the%20Ethereum%20Merge
UK PMIs Signal Economic Deceleration, Pound Edges Lower

Soulbound Token (SBT) : An Online Soul. How Can You Use It?

Binance Academy Binance Academy 17.08.2022 09:50
TL;DR Soulbound Tokens (SBTs) are digital identity tokens that represent the traits, features, and achievements that make up a person or entity. SBTs are issued by “Souls,” which represent blockchain accounts or wallets, and cannot be transferred.  Introduction Soulbound Tokens (SBT) is a concept proposed in May 2022 by Ethereum cofounder Vitalik Buterin, lawyer Puja Ohlhaver, and E. Glen Weyl, an economist and social technologist. The whitepaper, entitled “Decentralized Society: Finding Web3’s Soul,” lays out the foundation of a fully-decentralized society (DeSoc) governed by its users and how Soulbound tokens (SBTs) can function as the credentials we use in everyday life.  What are SBTs? Soulbound tokens (SBTs) are non-transferable tokens representing a person’s identity using blockchain technology. This could include medical records, work history, and any type of information that makes up a person or entity. The wallets that hold or issue these records are called “Souls.” People could have multiple wallets (or Souls) representing different parts of their lives. For example, someone could have a “Credentials Soul” for their work history and a “Medical Soul” for their health records. Souls and SBTs would allow people to build a verifiable, digital Web3 reputation based on their past actions and experiences. On the other hand, Souls can represent an entity that allocates SBTs. For example, companies can be Souls, issuing SBTs to each employee. A digital country club could issue SBTs to verify membership status. The logic behind soulbound originates from the popular online game World of Warcraft.  Players cannot sell or transfer soulbound items. Once picked up, soulbound items are forever “bound” to the player’s “soul.” Now, imagine this idea but applied to non-fungible tokens (NFTs). Today, most NFTs are ownership certificates for digital art or collectibles, such as Bored Ape Yacht Club. People will buy, trade, or show off NFTs as a symbol of status and wealth. SBTs aim to turn the NFT concept into something beyond money and bragging rights, a token that is both one-of-a-kind and non-transferable. While NFTs represent assets and property, an SBT represents a person or entity’s reputation. And unlike an NFT, SBTs hold zero monetary value and cannot be traded once issued to someone’s wallet.  How can SBTs be used? SBTs have a wide range of potential use cases. Here are some examples that could potentially find use in everyday life. 1. Education history – When people graduate from university, they receive a certificate proving completion of the required courses. The university could be a Soul issuing the SBTs, and the students would be Souls on the receiving end. The SBT would store the student’s credentials, proving they hold the relevant qualifications and are a member of the university. Simply put, the SBT would function as proof of attendance. 2. Job applications – In theory, job applicants could submit all their prior work history and professional certificates using official SBTs issued by previous companies and institutions. The SBTs would function as proof of skill certificates. 3. Health records – Switching doctors or healthcare providers could be accelerated using an SBT that holds a person’s medical records. Hypothetically, the SBT would replace the often slow process of filling out paperwork, verifying your medical history, and going back and forth with someone on the phone. How do SBTs work in Web3? Trust is one of the main challenges affecting the Web3 industry. How can you trust a person’s reputation in a system designed to be trustless? Let’s use lending money as an example. Similar to traditional bank credit scores, SBTs could track a user’s DeFi borrowing history as well as other metrics that determine their risk profile. SBTs are also a proposed alternative for decentralized autonomous organization (DAO) voting. Instead of the current governance model, which is based on how many tokens a member holds, DAOs could issue SBTs that assign voting power based on users’ interactions with the community. This model would prioritize voting power for the most dedicated users with a strong reputation. Besides creating a reputation-based voting system, SBTs may potentially improve the integrity of DAO voting — namely, defending against Sybil attacks — one of the biggest threats to the current DAO governance model. During a Sybil attack, an individual or a group of bad actors overthrow a DAO by purchasing the majority of governance tokens. Those with majority voting power can manipulate voting proposals and steer the project’s direction in their favor. The public and verifiable nature of SBTs could help detect and prevent bad actors from entering the DAO and, in turn, deter corruption and Sybil attacks from occurring.  What are examples of SBTs in action? As of August 2022, SBTs only exist on paper. Glen Weyl, one of the co-authors who contributed to the original SBT whitepaper, believes there will be early SBT use cases by the end of 2022. Binance also recently announced its own SBT called Binance Account Bound (BAB). The BAB token is non-transferable, has no monetary value, and is the first-ever SBT issued on the BNB Chain. BAB aims to tackle identity verification issues in Web3, serving as a digital verification tool for Binance users who have completed KYC. In addition to the Binance ecosystem, third-party protocols will be able to use BAB tokens to airdrop NFTs, prevent bot activity, and facilitate DAO governance voting, among other use cases. Closing thoughts SBTs have become a hot topic in Web3. In theory, SBTs could allow people to establish their own digital reputation and assess someone else’s on the blockchain. It remains to be seen if an SBT can function as Web3’s version of the “identity card.”   Source: What Are Soulbound Tokens (SBT)?
Summer's End: An Anxious Outlook for the Global Economy

Crypto Market Is Dependent On Stock Market. The Correlation Between Nasdaq 100 And BTC

Conotoxia Comments Conotoxia Comments 17.08.2022 15:27
Michael Burry is a well-known US investor who became famous for betting on the collapse of the US real estate market and the burst of the bubble in 2008. On 15 August, he filed a 13F form with the Securities and Exchange Commission (SEC), revealing the positions of his fund, Scion Asset Management. To the surprise of many, the investment portfolio turned out to be almost completely empty. Burry held shares worth 165 million at the end of the first quarter. These included companies such as Google, Meta and Stellantis. However, the latest report filed with the regulator revealed that all of it had been sold and the glorified investor's only long position is in GeoGroup, a company involved in running private prisons, but the value of the position is negligible at just under $3.31 million. The investor has recently been posting a number of tweets suggesting the end of the bear market rally. This has sent shock waves across the market, as the investment manager has usually been successful in predicting the market moves, famous for his incisiveness. If there were to be large declines in the broad traditional market, e.g. equities, what could this mean for crypto? The correlation between BTC and the Nasdaq 100 seems to be apparent, but after the last all-time high reading of 0.84 in May, it dropped to around 0.48 at the end of June. What is unfortunate, however, is that the correlation has been rising with subsequent waves of declines and peaked near local lows. If the stock market were to actually experience a crash, a strong reaction from the crypto market can be expected. The recent increase in correlation may be due to the increasing participation of token trading institutions. Michael Burry's attitude was addressed by Mati Greenspan CEO of Quantum Economic, stating that predicting the timing and scale of a crash is almost impossible. "Predicting a stock crash is a lot like predicting an earthquake. You know one will happen every so often but you can never tell exactly when or how severe it will be" - Greenspan said. On the Conotoxia MT5 platform, BTC is seeing its fourth day of decline, losing more than 0.7% at 10:30 GMT+3, while ETH is gaining less than 0.3%, drawing its first upward candle in three days. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Michael Burry closed almost all his positions - what could another stock market crash mean for crypto?
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

When is the Ethereum Shanghai hard fork scheduled? According to Ritesh ETH may reach $1,312

FXStreet News FXStreet News 16.12.2022 13:18
Ethereum Shanghai hard fork is scheduled for March 2023, after which the fork stakers/ validators can withdraw ETH from Beacon chain. Experts have estimated that 15 million Ethereum tokens, representing 12% of the total ETH supply can be withdrawn. Ethereum price is facing resistance at the $1,278 level, a break past this could push ETH towards the $1,312 level. Ethereum Shanghai hard fork’s tentative deadline is March 2023. Developers are working on an upgrade to introduce proto-danksharding to the Ethereum network through Ethereum Improvement Proposal (EIP) 4844 in May or June 2023. The outlook on the second-largest altcoin by market capitalization remains bullish and a Santa Claus rally is expected. Ethereum Shanghai hard fork precedes mass ETH token unlock Ethereum Core Developers Meeting on December 8 set a tentative deadline for the Shanghai hard fork. The Ethereum Shanghai Upgrade is set to introduce a bunch of critical updates and elemental changes to the blockchain’s Ethereum Virtual Machine (EVM) functionalities. In preparation for the Shanghai upgrade, the Ethereum Foundation released a pre-Shanghai testnet on October 14. ‘Shandong,’ the testnet was used to finalize the Ethereum Improvement Proposals (EIPs) that are expected to be rolled out in the actual update. EIP 4844 will go live post the Shanghai hard fork and introduce a new kind of transaction type to the altcoin. It is hoped the new type of transaction will free up space, increase transaction speed and lower gas fees. The upgrade involves a kind of interim sharding where "blobs" of data persist in the Beacon node for a short period of time. Blobs are small enough to keep disk use manageable. The changes that EIP 4844 will introduce are forwards compatible with Ethereum's scaling roadmap. Ethereum unloading made possible by EIP 4895 Ethereum Improvement Proposal 4895 will follow the Shanghai hard fork, this would allow users who participated in staking ETH into the Ethereum 2.0 contract to withdraw funds and staking rewards. The original plan was to implement a set of proposals – EVM Object Format (EOF) – including EIP-3540, EIP-3670, EIP-4200, EIP-4570, and EIP-5450 prior to token unlock. However, developers finally confirmed that the evaluation process could delay unlocking, therefore staked ETH can be withdrawn soon after the Shanghai hard fork. Shanghai therefore gives investors the first opportunity to unlock their ETH, some of which has been staked since 2020. After two years, the amount locked is over 15.5 million ETH, worth around $19 billion. Does this imply a massive sell-off in the largest altcoin? The ETH2 deposit contract has amassed 12% of the altcoin’s total supply. The increase in staked Ethereum coincided with the decline in exchange balances. Cryptocurrency balances have declined to 15% of the altcoin’s supply, while volume of staked Ethereum increases. Crypto intelligence tracker CryptoQuant presents the two below: ETH exchange and staked supply statistics A total of 15.5 million ETH has been staked in the deposit contract. Total value staked in ETH2 deposit contract There is a relationship between Ethereum’s exchange balance and staked ETH. As exchange balance decreases, volume of staked ETH increases. Ethereum’s exchange reserve is currently in a downtrend, this implies selling pressure on the altcoin is declining, there is room for a bullish breakout in the second-largest cryptocurrency. Ethereum exchange reserve Interestingly, the total supply of Ethereum started declining post the successful transition from proof-of-work to proof-of-stake consensus mechanism. The supply and demand dynamics are expected to shift further post the Shanghai hard fork and volatility in ETH price is imminent. It remains to be seen whether mass token unlock will see investors flooding exchanges with the second-largest cryptocurrency or continue staking it to earn higher rewards. In the former scenario a mass sell-off is expected to follow as selling pressure on the altcoin intensives with excess supply hitting exchanges. Higher liquidity is an opportunity to exit their position as well as scoop up more ETH at a discounted price. Experts are watching the Shanghai hard fork closely to determine Ethereum’s next move. Ethereum price outlook is bullish Ritesh, a crypto analyst and trader believes Ethereum is currently facing resistance at the $1,278 level and a successful breakout past this could push ETH to $1,312. In the chart below, the expert has identified a long-term downtrend in Ethereum. ETH/USDT perpetual futures Once Ethereum price crosses the $1,312 level, the next target is $1,350. This level has served as resistance for ETH this week, therefore it is key to a confirmation of the altcoin’s uptrend.
Taking care of cryptocurrencies - ByBit highlights talks safety measures

Investements in metaverse and GameFi have increased three times over the past year - Huobi report finds

Alex Kuptsikevich Alex Kuptsikevich 19.12.2022 11:09
Bitcoin is down 1.3% over the past seven days, remaining just below $17K since Saturday. Ethereum lost 5.3% to $1180. Other leading altcoins in the top 10 fell 8.8% (XRP) to 17.1% (Dogecoin). The intensified selling at the end of the week clearly showed that the market remains in the clutches of bears, capable of stopping the rise and sending the price lower. Total cryptocurrency market capitalisation, according to CoinMarketCap, fell 5.2% for the week, approaching $800 billion. The Cryptocurrency Fear and Greed Index was unchanged for the week, remaining at 26 points ("fear"). By Monday, the index was up 3 points to 29. Bitcoin ends the year near the same levels where it traded two years earlier and where it was at the end of 2017, raising doubts that the coin's limited supply is enough for a permanent bull market. Higher interest rates also raise the bar for other asset classes for new investors. Nevertheless, the currently reduced volatility after a sell-off of more than a year often serves as a good starting point for long-term investors, although it has yet to promise them quick profits. We are probably years away from a new wave of FOMO for cryptocurrencies, not days and months. Investment in the crypto industry's primary market exceeded $27.7bn in 2022 According to a Huobi report, investments in metaverse and GameFi have increased 300% over the past year. Meanwhile, investment in the crypto industry's primary market exceeded $27.7bn in 2022, while the crypto market cap has fallen by more than $2.2 trillion. So far this year, authorities in 42 countries have approved 105 "regulatory measures and guidelines" for the industry. Analytics platform CryptoQuant analysed a report by auditing firm Mazars on cryptocurrency exchange Binance's reserves and confirmed its relevance. Mazars has since removed links to previously published reports and said it is discontinuing service to all cryptocurrencies. The Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) has recommended a cap on the share of crypto assets in commercial banks' core capital of 2%. A compromise between BIS’s initial proposal of 1% and banks’ 5%. The Raydium decentralised finance protocol on the Solana network reported a hack. A hacker gained access to the protocol's administrative account and withdrew assets worth $2.2 million.
The Ethereum Market Is In The Pull-Back Mode Now

Ethereum has not reached its swing low for half a year. However, it does not indicate that the asset will see a promising future

Vladislav Tyumenev Vladislav Tyumenev 20.12.2022 14:49
Have Bitcoin and Ethereum hit their bottoms? Will BTC and ETH hold above support levels after FOMC decisions? During turbulent times, every FOMC meeting may become crucial for investors and speculators, giving hope for a bright future. On December 13-14, the Fed raised the key rate by 50 basis points to 4.25%-4.5%. It has been the seventh rate hike since the beginning of 2022 when the rate stood at 0.25%. Date of meeting Rate December 14, 2022 4.50% November 2, 2022 4.00% September 21, 2022 3.25% July 27, 2022 2.50% June 15, 2022 1.75% May 4, 2022 1.00% March 16, 2022 0.50% January 26, 2022 0.25% The pace of rate hikes slowed down in December but the market has barely noticed this. As a rule, such news boosts prices in financial markets but this time, we witnessed the opposite reaction. What did go wrong? Firstly, economists expected a slowdown in Fed’s rate hikes back in the fall. Secondly, the regulator adjusted its forecasts for future rate hikes. By the end of 2023, the key rate may reach 5.1% against the previously forecasted figure of 4.6%. Besides, the outlook was adjusted for 2024 and 2025. The Fed remained hawkish and markets plunged. Markets at the moment: NASDAQ100 -2.5% S&P500 -2.0% BTCUSD -2.5% ETHUSD -2.0% Investors' fears were reasonable as the regulator confirmed that it did not plan to halt rate hikes in the near future. High interest rates may remain for a long time. This fact is likely to limit the growth potential of the US stock market and the cryptocurrency market. At a recent press conference, Jerome Powell said that the regulator would continue combating high inflation. Powell also confirmed that the key rate would not be lowered in September 2023. The main points of Jerome Powell's speech: We have covered a lot of ground, and the full effects of our rapid tightening so far are yet to be felt Higher interest rates and slower output growth also appear to be weighing on business fixed investment It will take substantially more evidence to give confidence that inflation is on a sustained downward path What we're writing down today is our best estimate of what we think that peak rate will be based on what we know Our decisions will depend on the totality of incoming data The strong view on the Committee is that we'll need to stay there, you know, until we're really confident that inflation is coming down in a sustained way What should investors be ready for? If the Fed continues monetary policy tightening, the US stock market is unlikely to turn bullish in the short term. Meanwhile, if stocks move sideways or plummet, it may damage the crypto market as it is strongly correlated with US tech stocks. Bitcoin and Ethereum trading charts Overall market picture: Bitcoin has not reached a new low for 25 days Ethereum has not reached a new low for 181 days BTC gained 14% from the swing low on November 21 ETH gained 24% from the swing low on June 18 The Fear & Greed Index stands at 31 points, indicating bearish market sentiment Bitcoin analytical review The price returned to $18,000. It should be perceived as a bounce from the low of the downtrend. The level of $15,000 offered support. Despite the fact that the price soared by almost $3,000, a reversal is unlikely to occur. The asset is still trading within the downtrend and may hit a new low. Thus, BTC may still hit a new bottom. The Fed and its monetary policy significantly affect the market trend. Developments in the crypto industry have an influence on the crypto market too. The ongoing FUD has been amping up the downtrend since the beginning of the year. The market has not recovered from the collapse of one of the largest crypto exchange, FTX. Thus, investors are raising concerns about the largest crypto-exchange, Binance, which is accused of possible money laundering and violation of sanctions. Read next: The Bank Of Japan's Decision To Allow 10-Year Government Bonds Caused Turmoil In The Financial Markets, USD/JPY Trading Below 133| FXMAG.COM This news background harms the entire industry, as a result, it limits the possible growth of the crypto market. In this connection, if BTC dips to $15,000, the downtrend may continue. This is likely to open the way to $13,000 and $10,000. Ethereum analytical review Ethereum has not reached its swing low for half a year. However, it does not indicate that the asset will see a promising future. In fact, ETH has been declining since mid-August when it touched the resistance level of $2,000. Since then, the asset has already lost 35%. As a result, the price returned to the swing low. The psychological level of $1,000 still acts as support. In June, this strong level put strong pressure on bears and prevented the price from falling below. Traders bet on a trend reversal near this level. Meanwhile, if ETH drops below $1,000, the medium-term downtrend may continue.
After consolidating between $73 support and $81 resistance for more than three weeks, Litecoin broke out of this pattern by breaking its lower limit

After consolidating between $73 support and $81 resistance for more than three weeks, Litecoin broke out of this pattern by breaking its lower limit

Geco One Geco One 21.12.2022 12:38
Bitcoin (BTC) Increasingly optimistic macroeconomic data and rising expectations for the Fed's pivot have seen Bitcoin rise by nearly $2,900 or 18.7% recently, returning to the previously defeated support (now resistance) of $18,500 and measuring 50% Fibonacci retracement from the earlier downward impulse observed in response to information about the collapse of the FTX exchange in the first half of November. However, a more hawkish than expected tone of the announcement and statements by CEO Jerome Powell after the December meeting of the Federal Open Market Operations Committee (FOMC) meant that there was a slight supply reaction during Wednesday's trading, which, combined with concerns about liquidity problems that may affect the Binance exchange contributed to BTC falling below USD 17,000. In the near future, Bitcoin may return even to the November lows of USD 15,600. However, this does not necessarily mean its permanent return to the downward path. Financial markets are still pricing in that the Federal Reserve will make just two more rate hikes of 25 basis points each at its meetings in February and March next year before moving from tightening to normalizing before the end of next year (September and December 2023). year) to make the first interest rate cuts. However, there are many indications that the near future of Bitcoin (and not only) will depend not on economic data and monetary decisions of the Federal Reserve but on reports on the financial condition and state of reserves of the Binance exchange. Because it is the world's largest virtual asset exchange platform, its possible collapse could cause an actual collapse, the scale of which would be at least several times greater than the sale caused by the collapse of the FTX exchange in the first half of November. For the entire cryptocurrency market, it would be a blow that would contribute to the loss of investor confidence, resulting in extending the cryptocurrency winter that has been going on for over a year, not by weeks or months, but by years. Therefore, until Binance proves that the state of reserves reflects the actual balances of exchange users' accounts and does not effectively repel concerns about possible liquidity problems, the cryptocurrency market will be dominated by horizontal and downward trends. Ethereum (ETH) Ethereum's quotations have recently increased by almost 26%, overcoming the horizontal resistance in the region of USD 1220 and returning to the previously defeated uptrend line, where a supply reaction appeared last Wednesday. The persistent rejection of this level led to a clear downward move, with ETH falling below the technical support of $1,220. If the sale continues, the cryptocurrency could move towards USD 1,100 in the near future or even further to USD 1,000. Bitcoin Cash (BCH) Bitcoin Cash recently fell below the technical support of $106. Since breaking one support usually signals the potential for further declines to the next, in this case, we could expect further depreciation towards USD 97 or even below USD 90 in the near future, which would be the lowest level since November 2022 one the lowest since December 2018. Litecoin (LTC) After consolidating between $73 support and $81 resistance for more than three weeks, Litecoin broke out of this pattern by breaking its lower limit. A dynamic downward rally made the LTC exchange rate quickly find itself in the area of the next support between USD 61.30 and USD 64.50. However, if this barrier is also broken, one should prepare for further depreciation towards USD 56.70 or even USD 50. Polygon (MATIC) The price of the Polygon cryptocurrency has fallen by almost 17% over the past few days. This sell-off brought the MATIC exchange rate back to the uptrend line, from which it has bounced several times in recent months. It is worth noting, however, that the demand reaction around this support this time is definitely weaker than those we have observed. This also increases the chances of breaking this level, which in turn would threaten further declines. If the currently tested uptrend line is broken, the MATIC could continue to rally south towards the $0.74-0.76 zone or even further to $0.70 or $0.61. XRP The supply pressure observed in the broad cryptocurrency market is also visible on XRP quotations. After a slight upward correction, the exchange rate of this cryptocurrency rebounded from the previously defeated support (now resistance) of USD 0.42, and for some time, we have been observing its decline again. There are many indications that XRP will soon return to the August, September and November lows of USD 0.32. However, if that support is broken this time, the sell-off could continue to the $0.30 mark, which would be the lowest level since July 2022 and one of the lowest since January 2021.
Both Visa And Mastercard Are Delaying The Launch Of Some Cryptocurrency-Related Products

Visa with auto payments on Ethereum? Visa's Catherine Gu hints at "bridging the gap between web2 and web3 ecosystems"

ByBit Analysis ByBit Analysis 21.12.2022 13:30
Daily Top Mover — KunciCoin (KUNCI)   U.S. equities had a roller coaster trading section overnight. Bank of Japan’s unexpected pivot with yield policy changes gave rise to price plunges pre-market, and all major indices recouped most losses during the regular section. Meanwhile, the broader cryptocurrency market continued with its sideway movement, with Bitcoin and Ether up 0.7% and 1.41%, respectively in the past 24 hours. The top mover for today, KunciCoin (KUNCI), which registered a 40.41% increase in the past 24 hours, has clearly underperformed the market likely due to the upcoming token burn on Jan 4, 2023.     KunciCoin is a cryptocurrency project and blockchain development platform designed for decentralized applications (DApps) such as NFTs, applications, games, and more. It was founded by a team of Indonesian entrepreneurs and crypto enthusiasts. With a dynamic and vibrant crypto community, Indonesia has emerged as one of the most receptive countries to crypto projects.   The large swing in token movements is likely due to the anticipation of the upcoming token burn, dubbed KunciCoinOnTorch. The event will burn 90% of its total supply from 50 billion to 5 billion. With a circulating supply at 1.2 billion, the token burn will likely send a tailwind to the token price assuming a constant fully diluted market capitalization. Apart from the token burn event, KunciCoin newly launched KunciPay early this month, an innovative digital streaming music platform, aiming to bridge the gap between web2 and blockchain technology. Regarding the most recent news, KunciCoin was endorsed by Indonesia Crypto Network and Indonesian Blockchain Association yesterday, which unlikely fully contributed to this price uptick but may have spurred investors’ interest in the token.   Market Check   Check Out the Latest Prices, Charts, and Data for KUNCI/USDT!   Talk of the Town     Visa recently released a proposal to enable users to set up auto payments on Ethereum. Catherine Gu, Visa’s Head of Central Bank Digital Currencies and Protocols emphasized Visa’s commitment to bridging the gap between web2 and web3 ecosystems. The payments network giant is currently exploring novel approaches to using smart contracts to make payments programmable. Their proposal also revealed how users could possibly schedule automatic payments from their self-custodial crypto wallets. As Visa continues to explore its role as an active industry player in the crypto world, we will definitely be keeping a close eye on its developments.   Check out what else is buzzing in the crypto scene today:   a16z has billions of dry powder to deploy. (Link) Yuga Labs hired the ex-Activision president as CEO. (Link) Polygon partnered with Hi to introduce an NFT debit card. (Link) Source: Bybit Blog | KunciCoin Reveals Upcoming Token Burn; Visa Proposes Auto-Payments on Ethereum
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

ByBit Analysis ByBit Analysis 23.12.2022 22:15
Daily Top Mover — Mask Network (MASK)   U.S. equities whipsawed, reversing all their gains on Wednesday, with tech stocks such as Tesla and Nvidia being the loss leaders. No significant economic data were released overnight, while investors are waiting for the Personal Consumption Expenditure Price Index out on Friday. Meanwhile, the broader cryptocurrency market has experienced extraordinarily low volatilities recently, with Bitcoin and Ether moving sideways and up 0.1% and 0.74%, respectively, in the past 24 hours. The top mover for today, MASK, which registered an 8.7% increase in the past 24 hours, has clearly underperformed the market in the wake of its acquisition of Mastodon Server, Pawoo.net.     MASK is the native token of Mask Network, a software to allow users to encrypt their messages on Twitter and other Web2 social media platforms. Mask Network, founded in 2018, rose to fame following Elon Musk’s acquisition of Twitter. MASK was included in the Bluebird Index, which consists of tokens that may benefit from Twitter’s acquisition. On this note, Elon’s friendly attitude towards crypto and Web3 may likely lead to more integration in the future, spurring investors’ interest in the lesser-known MASK. Furthermore, Mask’s acquisition of Pawoo.net, a server on the decentralized social media platform Mastodian, has likely contributed to the recent outperformance, as Pawoo.net has 800k users, the vertical integration between Pawwo and Mask may create positive synergy.     Market Check   Check Out the Latest Prices, Charts, and Data for MASK/USDT!   Talk of the Town     Twitter has added Bitcoin (BTC) and Ethereum (ETH) price indexes to its search function, allowing users to easily check the current prices of these two popular cryptocurrencies. This update was announced on Dec 22, 2022, by the Twitter Business account and is one of the latest moves by the social media platform to expand its crypto features on the platform. This function is not only limited to crypto, and users will also be able to see price support charts for other major listed assets. The social platform’s account also revealed that they would be refining their user experience and coverage of symbols in the coming weeks.    Check out what else is buzzing in the crypto scene today:   U.S. Senate introduces a new stablecoin bill. (Link)   Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to criminal charges. Sam Bankman-Fried is now in FBI custody. (Link)   Brazil’s crypto regulation takes effect. (Link)   SEC Chair Gary Gensler claims the crypto crackdown is just getting started. (Link) Source: Bybit Blog | MASK Rises Following Pawoo's Aquisition; Twitter Expands Twitter Features
It seems that less-than-expected Ether hodlers want to unstake

Alameda Research converting altcoins to Ethereum. Wrapped Ripple could plunge!

FXStreet News FXStreet News 29.12.2022 16:30
Alameda Research, Samuel Bankman-Fried’s trading firm, has been swapping altcoins for Ethereum and USD Tether. Wrapped XRP, Render, Guild of Guardians, Lido DAO and XSUSHI prices could suffer double-digit decline if the trading firm sheds its holdings. On-chain analysts and traders on crypto Twitter consider these moves alarming for altcoin holders in the ecosystem. Alameda Research has started swapping altcoin holdings for Ethereum and USD Tether. On-chain analysts argue that if Alameda Research started shedding its altcoin holdings it could trigger a bloodbath in cryptocurrencies like WXRP, GOG, LDO and XSUSHI. Alameda Research converts altcoins to Ethereum, USD Tether, what to expect Alameda Research, a trading firm co-founded by Samuel Bankman-Fried is currently in the process of converting altcoins to Ethereum and USD Tether based on on-chain analysis. In the past 13 hours, the firm has moved several altcoins through known addresses, swapping them for Ethereum. Analysts have evaluated the price impact if SBF’s trading company started selling its holdings. According to Ri_gmi, an on-chain analyst, the potential price impact could be catastrophic, with Wrapped XRP (WXRP) and Render (RNDR) facing up to 99.47% downside. Altcoin price impact when Alameda Research sheds holdings The expert looked at Alameda’s on-chain holdings using crypto intelligence tracker ArkhamIntel. In the last few transactions the trading firm has converted altcoins, claimed rewards, unstaked assets and turned them into Ethereum and USD Tether. Majority of the assets were swapped through Metamask’s inhouse swap feature. Asset swap through Metamask According to on-chain analysis, Alameda’s wallet addresses are sending their ETH and USDT to fresh addresses before sometimes sending to instant exchangers such as FixedFloat and changeNOW. The bankruptcy team is yet to confirm whether the multisig addresses where most of the tokens were deposited belong to them or a third party. ErgoBTC, a crypto Twitter based on-chain analyst argues that if the multisig address is truly controlled by the bankruptcy team, it can be inferred that Alameda addresses not sweeping to the multisig are either false positive labels, or true positives controlled by someone else besides the bankruptcy team. Analysts are closely watching Alameda’s wallet addresses for the next move and to ascertain whether the firm is ready to shed its portfolio holdings.
It seems that less-than-expected Ether hodlers want to unstake

According to experts, Ethereum "has a better underlying economic model"

FXStreet News FXStreet News 03.01.2023 15:34
Ethereum network outperformed Bitcoin more than fourfold with 408.5 million ETH transactions in 2022. Bitcoin still remains the most searched cryptocurrency in 2022 and reported steadier transaction volume in its network. Ethereum's diversified ecosystem and web3 investment opportunities set it apart from the largest asset by market capitalisation. The Ethereum network surpassed Bitcoin in total transaction volume in 2022. While the largest asset by market capitalization managed to retain its dominance in online search interest and steady transaction Experts compare large market cap cryptocurrencies in web3 like Bitcoin and Ethereum and conclude that ETH has a better underlying economic model, compared to other assets. Projects and protocols in Ethereum’s ecosystem with the token economics (real value) and right product market fit could add new features and earning opportunities and continue to garner interest from investors. Ethereum network takes the lead with higher investment opportunities than Bitcoin Ethereum network outperformed Bitcoin in total number of transactions on its blockchain in 2022. ETH network tackled 408.5 million transactions against 93.1 million on Bitcoin’s blockchain. Based on data from Nasdaq and Yahoo charts, the average daily transactions were around 1.1 million for ETH and 255,000 for BTC. Ethereum and Bitcoin transaction count in 2022 The transaction volume on Bitcoin was steadier and more periodic than Ethereum. Data reveals higher volatility in transaction volumes on Ethereum’s blockchain was due to spikes in demand at NFT launches and minting of blue-chip digital collectibles. Read next: 2023 Predictions: Natural gas prices in Europe and the US may in the nearterm struggle to find upside momentum with inventories staying elevated due to mild winter weather and consumers curbing demand| FXMAG.COM Interestingly, Ethereum’s higher transaction volume can be attributed to a higher number of investment opportunities in the altcoin’s ecosystem. Ethereum offers massive web3 investment opportunities, unlike Bitcoin Fred Wilson, a Venture Capitalist in New York argues that web3 firms are likely to react to the 2023 recession similar to traditional finance firms. Typically, traditional finance firms raise funds to tackle the negative impact of recession and sustain their business. Large capitalization cryptocurrencies like Bitcoin and Ethereum could attract more interest from investors, however, of the two, the outlook on ETH is more bullish. Wilson argues that ETH has the best underlying economic model of any web3 asset. Web3 sector is expected to go through a triage and projects with no product market fit, weak or no token economics could fail in 2023. While there is a large overhang in web3, the VC expects a spike in selling pressure on web3 tokens for at least the first quarter of 2023. The Ethereum ecosystem has several digital collectibles, art, and real-world utility projects in web3 that continue to garner attention from investors. This tilts the scales in favor of ETH as the altcoin offers massive investment opportunities in web3 to investors, through crypto winter, the spreading FTX contagion and the anticipated recession in 2023.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

MicroStrategy bought 2.5K Bitcoins. Leading cryptocurrencies - BTC and ETH decreased in the past seven days

Crypto.com Accelerate the... Crypto.com Accelerate the... 03.01.2023 23:10
China launching its first state-backed NFT marketplace. Central Bank of Turkey completes first CBDC test. Microstrategy buys more BTC. Weekly Market Index Last week’s crypto market prices fell slightly by -1.74%. Volume and volatility also dropped by -10.48% and -27.40%, respectively.     Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were down -1.4% and -1.1% in the past seven days, respectively. Performances of other selected top-cap crypto tokens were mixed. Litecoin (LTC) was among the top performers. Its next halving event is estimated to be in 2H 2023.     News Highlights China is launching its first state-backed NFT marketplace. The marketplace will also be used to trade digital copyrights and property rights along with collectibles. The Central Bank of Turkey successfully carried out the first payment transactions on its central bank digital currency network as part of an initial test phase. Italy’s Senate approved its budget for 2023, which included an increase in taxation for crypto investors — a 26% tax on capital gains on crypto-asset trading over 2,000 euros. Crypto asset manager Valkyrie Investments proposes a plan to become the sponsor and manager of the Grayscale Bitcoin Trust (GBTC). In its proposal, Valkyrie said it wants to facilitate GBTC redemptions at net asset value (NAV) for investors. MicroStrategy bought an additional 2,500 Bitcoins for US$45M in November and December. However, the company also sold 704 Bitcoin, the first time it has done so since it started purchasing the cryptocurrency in 2020. Recent Research Reports     2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Catalyst Calendar         Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: crypto.com
Headwinds which have overshadowed Solana - "the Ethereum Killer"

Headwinds which have overshadowed Solana - "the Ethereum Killer"

Kucoin Blog Kucoin Blog 03.01.2023 23:17
Crypto Market Overview According to Glassnode data, long-term Bitcoin holders have an unrealized loss of 6,057,858 bitcoins this year. From being touted as a revolutionary solution to Ethereum’s scalability issue to being a part of a larger domino effect, Solana has been one of 2022’s worst-performing assets, losing around 96% from its all-time high. However, Solana still has many things to offer, including a vast array of blockchain projects. The rapid decline in the price of Bitcoin has harmed both short-term and long-term investors. According to Glassnode data, long-term holders lost 6,057,858 bitcoins as of December 26 compared to short-term holders who lost 1,889,585.   Also, the correlation between large transactions of $1 million or more and overall BTC price strength are now at their lowest levels since December 2020.     Whale to BTC Price ratio | Source: Santiment   Additionally, the Oregon Division of Financial Regulation (DFR) issued a press statement warning cryptocurrency investors that phony websites and applications set up by con artists are intended to steal their money and provide nothing in return. Before transmitting money to cryptocurrency trading platforms, the DFR advised traders to "do their homework."   The DFR cited as an example a website claiming to be run by the US Department of State. The website stated that it was attempting to assist FTX customers in recovering their assets, according to the DFR. As a result, the website obtained data from an investor, including usernames and passwords.   It will be interesting to see how much fuel the bears have in their tank in 2023 with the current underwhelming microeconomy in their favor.     Source: Coin360 | Crypto Heatmap   Top Altcoin Gainers and Losers Top Altcoin Gainers Internet Computer (ICP) ➠ +8.44% Terra Classic (LUNC) ➠ +6.19% Lido DAO (LDO) ➠ +5.85%   Top Altcoin Losers Chain (XCN) ➠ -33.07% Solana (SOL) ➠ -23% Axie Infinity ➠ -16.15%   Fear and Greed Index at 28, Market Sentiment Remain Bearish The Crypto Fear and Greed Index is ending the year in the fear zone (28) as investors prepare for a shaky 2023. There are lots of things to deal with; inflation, recession, the FTX saga, rising mortgage rates, and increasing personal debt.     Fear & Greed Index | Source: Alternative   What Is Happening to Solana? From being touted as a revolutionary solution to Ethereum’s scalability issue to being a part of a larger domino effect, Solana has been one of 2022’s worst-performing assets. On December 29, the price of the Ethereum Killer hit its lowest levels since February 2021 and is suffering from a scarcity of developers, as many of them are fleeing to competitors. How did this high-flying, VC-loved cryptocurrency fall from its exalted position?   There are three distinct reasons for Solana’s fall from grace. Let’s look at each.   FTX Exposure At this point, it is starting to get fishy. How was FTX able to gain the trust of even prominent players in the crypto space? Well, we’ll probably answer that next year; but for now, we will look at how Solana got exposed to FTX.   A Solana statement released in November showed that FTX controlled over 50 million SOL. This is through a linear monthly unlock system which saw the Solana Foundation give FTX 4 million SOL on August 2020, 12 million SOL from September 2020, and nearly 34.52 million SOL from Jan. 7, 2021.   Although the SOL tokens are vested, with the last unlock due by January 2028, The FTX bankruptcy hearing might see a freeze on the Solana tokens.   Security Breaches This year, over $8 million has been lost to hacks across Solana-based hot wallets and Solana-based smart contracts. The latest was seen in August 2022 when users reported on Twitter that their hot wallets had been drained. The 10-minutes window of draining saw over $6 million lost from about 8000 wallets.   According to blockchain researcher PeckShield, the widespread theft is most likely the result of a "supply chain flaw" that has been exploited to steal user private keys from affected wallets on August 2.   Solana’s Achilles Heel - Network Outages Since its launch in 2020, the Solana network has seen a number of network disruptions that have been caused by a variety of various congestion and spam events. The network has experienced at least seven outages this year alone, with the longest lasting for 17 hours. While the culprit has been low transaction fees, digging deep reveals a bigger foundational flaw.   Surprisingly, the co-founder claimed Solana is primarily a communication protocol, and SOL is not money. This is perhaps why several protocols and developers are fleeing to other networks like Snowfall, Polygon, and even Cardano.     Daily Active Developers on Solana | Source: Token Terminal   Solana's Potential With all that being said, Solana is still one of the most popular projects for builders and blockchain projects. Its transaction speed and cheaper gas cost is still more than a valuable asset for protocols that require speed and numerous transactions to execute their smart contracts.   On top of that, when it comes to pricing, some analysts have been comparing this drop to Ethereum's drop in 2018-2019, when ETH dropped 95% before soaring again.   Crypto Calendar: Events to Watch This Week ➺ 28/11/2022 - MMO Coin AMA ➺ 28/11/2022 - Orbs AMA with Kucoin Japan ➺ 30/11/2022 - Badger DAO Community Hall ➺ 2/12/2022 - Step App Conference 2022   Solana (SOL/USDT) Technical Analysis Solana’s price action in 2022 has been less than optimal to say the least.   2022 has been one hell of a year for the Solana project. SOL’s price has been incredibly volatile, with the crypto reaching $121 in March 2022. This impressive rally was largely driven by the announcement of several major partnerships that enabled Solana to become one of the world's most widely used blockchain platforms.   However, with the overall bearish crypto market pressure, the token plummeted ever since, with its price closing in June at $30. Following this downtrend, the token started to consolidate for the next four months, and its price remained at $30 till the end of October.   Then came the FTX collapse, where SOL lost 50% of its value in a single week - the first week of November. Remember Sam Bankman-Fried (FTX founder) was an active advocate of the Solana project? That negatively impacted the token’s price and the overall project’s reputation. This Thursday, the token again saw a sharp drop in its value (10.4%), with the project losing its protocol. Overall the value of SOL got dropped by ~95% this year.     SOL/USDT Chart on the Daily Timeframe | Source: KuCoin   On the weekly timeframe, all the major technical indicators and oscillators suggest a strong sell for the SOL token, with RSI reaching 30 and beyond. However, the 5-min and 15-min timeframes show a few green candles as buyers try to take advantage of the sudden price drop. If you are scalping SOL, keep a keen eye on the 8.7 & 8.9 support levels.   All that said, Solana has proved its fundamental strength before and the innovation it brings to the blockchain world. So it could be interesting to see the SOL’s price action in 2023.     Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom.   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Bitcoin is fourteen year old! PricePrediction forecast BTC exchange rate in a month at $15,532

Alex Kuptsikevich Alex Kuptsikevich 04.01.2023 09:41
Bitcoin lost 0.5% on Tuesday but started Wednesday with a substantial gain, adding more than 1.3% to $16.8K. The current levels are one-week highs and send the price to the area above the 50-day moving average. These are new signs that the prolonged sideways slide is ending, and one should be prepared for higher volatility, and this time it may be the altcoins that come to life first, not the first cryptocurrency. Ethereum is adding over 3.5% since the start of the day, making a solid move above its 50-day moving average and testing the highs of the last three weeks. Here we see a large amplitude of gains, which increases the chances of a break of the downtrend. At the same time, traders with a more distant outlook would prefer to wait for confirmation in the form of a rewrite of the previous highs near $1350. Despite the bear market, the level of fraud and hacks in the cryptocurrency industry will not diminish in the new year, according to CertiK Crypto-asset monitoring service PricePrediction predicted the bitcoin exchange rate in a month at $15,532, which is about 7% lower than the current value of BTC. Last year was more of an ice age than a crypto winter, said Circle's head of strategic development Dante Disparte. However, he is optimistic: bankruptcies and industry clean-up could be a boon for the crypto market in the long run. Despite the bear market, the level of fraud and hacks in the cryptocurrency industry will not diminish in the new year, according to CertiK, a blockchain security-focused analyst firm. Fraudulent schemes and techniques have been worked out, and the market is vulnerable. Fourteen years ago, on January 3, 2009, a person (or group of people) under the alias Satoshi Nakamoto launched the leading bitcoin network by mining a genesis block of 50 BTC. The first transaction occurred on 12 January 2009 - Satoshi Nakamoto sent 10 BTC to Hal Finney.
On Wednesday morning total crypto market capitalisation was below $800bn

On Wednesday morning total crypto market capitalisation was below $800bn

InstaForex Analysis InstaForex Analysis 04.01.2023 17:10
Wednesday morning saw a small rise in the price of digital gold. The price of one bitcoin is equilibrating at $16,836 at the time of writing. Despite registering consistent gains and setting seven-day highs during the previous two trading days, the cryptocurrency ended Tuesday's trading session in negative territory. The minimum price of Bitcoin for the past day was $16,622, according to CoinMarketCap, a website for tracking the prices of digital assets. By the way, the coin's value dropped 3.3% in December 2022. The value of the BTC has decreased by roughly 65% since January of last year. At the same time, the cryptocurrency's price has dropped by more than 70% since November 2021, when it updated the historical record. Many other virtual assets have also fallen significantly from their previous levels at the same time. Crypto Market The primary rival to Bitcoin, Ethereum, also saw a slight increase on Wednesday. The price of the coin is $1,226 as of this writing. Except for the Tether stablecoin, all cryptocurrencies from the top 10 by market cap were traded in the green on the previous day. Ethereum (+0.91%) experienced the best results at the same time. The cryptocurrency Ethereum (+1.01%), one of the top ten strongest digital assets, led the growth list according to last week's findings, and XRP (-5.14%) dominated the decline list. The Solana token took the first spot in the list of the rise among the top 100 most capitalized digital assets over the last day, according to CoinGecko, the largest global aggregator of data on virtual assets, and the OKV coin performed the worst (-2.57%). Read next: We are preparing to see the S&P500 decline in the first weeks of the new year down to 3600 | FXMAG.COM According to the previous week's results, the digital asset Chain (-15.81%) had the worst performance among the top 100 most powerful digital assets, while BitDAO (+37.46%) had the best. According to CoinGecko, as of Wednesday morning, the overall market capitalization of cryptocurrencies was $772.008 billion, failing to cross the crucial $800 billion threshold. The indicator increased by 1.57% over the previous day. Since November 2021, when it surpassed $3 trillion, the entire market capitalization of cryptocurrencies has more than tripled. Relevance up to 13:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/331465
Coinbase, Microstrategy, Block and cryptocurrencies rose despite market uncertainty

Ripple CEO, Brad Garlinghouse, talks cryptocurrency regulations, Coinbase to be fined

Alex Kuptsikevich Alex Kuptsikevich 05.01.2023 10:43
Bitcoin failed to break the $17K mark on Wednesday and has rolled back to $16.77K at the time of writing. Price fluctuations remain more than subdued. BTC remains slightly above its 50-day moving average (50-DMA). As capturing a critical trending level has yet to encourage more buyers, it is worth looking cautiously at the dynamics of the coming days. Bitcoin was able to touch a bottom at $16,000, signalled by a rise in the number of losing addresses on the network, which exceeded 50% by the end of December, according to a Coinbase report. The situation was similar in January 2015 and 2019, which saw BTC bottom in previous cycles of decline. The situation in Ethereum is more optimistic, as it rallied powerfully yesterday on a break of its 50-day average and is maintaining most of those gains on Thursday morning. In addition, in ETHUSD, the 200 and the 50 SMA have already turned upwards, which is one of the signs that the trend is changing. However, we still need confirmation. Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, has refused to plead guilty to eight charges Ripple CEO Brad Garlinghouse expressed hope that US regulators will achieve regulatory clarity on cryptocurrency regulation in 2023. In his view, the main problem is that the US reference various past bills, but it is better to start from scratch. Read next: Samsung Suffers From Weakening Demand, Amazon Will Increase The Total Number Of Layoffs To Over 18,000| FXMAG.COM Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, has refused to plead guilty to eight charges. Bloomberg notes that refusing to plead guilty will give Bankman-Fried more information about the evidence against him. A trial is set for October. The world's second cryptocurrency exchange Coinbase will pay a $100 million fine. Regulators note that the KYC requirement was followed formally by the exchange and that the information provided by the user was not correctly verified when registering a new client.
Eurodollar: InstaForex's analyst suggests making sales with objectives close to the predicted 0.9994 level, or 323.6% Fibonacci

ECB's Fabio Panetta's words could be shocking, Justin Sen (Tron) comments on Huobi

Alex Kuptsikevich Alex Kuptsikevich 09.01.2023 09:54
Bitcoin rose 2.2% over the past week, finishing near $17K. On Monday morning, a new upward momentum lifted the price to $17.2K, a new high in almost four weeks. Over the week, Ethereum has added 8% to $1310. Other top-ten altcoins gained between 3.4% (XRP) and 17.9% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 5.3% to $850bn for the week. The crypto market reacted positively to favourable news for the US stock market and negative news for the dollar, climbing to a new level. Such smooth growth is reminiscent of building a solid foundation for future recovery. On Monday, Bitcoin draws its sixth daily growth candle, increasingly confidently trading above its 50-day average. The largest and oldest altcoins are also attracting market attention. In addition to Ethereum, which is approaching December highs, Litecoin deserves attention. On Monday morning, its price jumped 7.5% to $82, which is in the region of November and December highs and near the highest levels since last May. The interest in long-only altcoins is an essential indication of the work of long-term buyers. In Meanwhile, investors are busy assessing the most ambitious and advanced projects' vulnerability. Justin Sun, a founder of Tron and advisor to Huobi, denied rumours of problems with the exchange The cryptocurrency community has heard rumours about the potential insolvency of the Huobi exchange amidst the outflow of funds, rumours of layoffs in the team and reductions in employee payments. Huobi has confirmed layoffs of around 20% of its staff. The NT exchange token has collapsed by 28% in the past month. Justin Sun, a founder of Tron and advisor to Huobi, denied rumours of problems with the exchange, stressing that users' assets are safe. Meanwhile, CryptoQuant said that Huobi was "in a vulnerable position", while analytics service Arkham explicitly urged subscribers to withdraw funds from the site. Digital Currency Group (DCG), troubled cryptocurrency broker Genesis's parent firm, announced the closure of its digital asset management subsidiary HQ Digital. Bloomberg reported that the SEC and other US regulators had investigated DCG. Cryptocurrencies have no intrinsic value and should be regulated like gambling, ECB executive committee member Fabio Panetta said.
Cryptocurrency: There are a few signs that Bitcoin price may increase

Damage to the crypto industry increased by almost a half in 2022

Alex Kuptsikevich Alex Kuptsikevich 10.01.2023 10:36
Bitcoin rose to $17350 on Monday but returned to $17200, showing zero momentum over the past 24 hours. The buying was held back by the waning momentum of buying in US equities. Fed officials continue to press the market, warning that they are ready to raise the rate "markedly above 5%". Such statements are alarming because they come after labour market data showed increasing economic weakness. As the source of the pressure on Bitcoin is pressure on equities, the overall capitalisation of the crypto market has not suffered as much, adding 0.3% in the last 24 hours to 850bn - near the highs of the last four weeks. According to CoinShares, investments in crypto funds declined by $10m last week, with outflows continuing for the third week. Investments in Bitcoin were down $6.5m, and into Ethereum decreased $3m. Investments in funds that allow shorts on bitcoin were up $1m. Read next: Pound sterling affected by BoE's speaker hinting at persistent recession. DAX gains on the back of industrial production edges higher| FXMAG.COM From the tech analysis side, the positive scenario remains prevalent as long as Bitcoin trades above 16800, which coincides with the 50-day moving average and the local resistance area at the end of December. Slightly highlighted is a $3 million influx in XRP, likely due to hopes for a positive outcome of Ripple's lawsuit against the SEC Slightly highlighted is a $3 million influx in XRP, likely due to hopes for a positive outcome of Ripple's lawsuit against the SEC. However, CoinShares notes that trading volumes remain low, and sentiment in early 2023 is moderately negative. US authorities are investigating US hedge funds' ties to cryptocurrency exchange Binance as part of an investigation into possible anti-money laundering violations, The Washington Post reports. According to Reuters, attackers laundered at least $2.35 billion in illicit funds through the exchange between 2017 and 2021. According to Beosin, damage to the crypto industry in 2022 from 167 major attacks was about $3.6 billion, up 47% from a year earlier. Decentralised finance (DeFi) projects were attacked the most, as security in this sector leaves much to be desired.
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Ethereum's Shanghai upgrade: public test network to be released by the end of February

Crypto.com Accelerate the... Crypto.com Accelerate the... 11.01.2023 11:07
Crypto.com DeFi Wallet now enables card payments via Crypto.com Pay. Balancer warns LPs to withdraw liquidity ASAP. Critical vulnerability found in Polkadot, preventing potential US$200M loss. Weekly DeFi Index This week’s market cap, volume, and volatility indices surged significantly by +14.65%,+37.61%, and +18.22%,respectively.         MakerDAO (MKR) regained the leading position among DeFi protocols with the highest TVL, taking the top spot from Lido (LDO). An increasing interest in MKR was seen last week. This resulted in its volume growing from 14 million to 38.6 million in the last seven days, as reported by Santiment.         News Highlights Crypto.com DeFi Wallet has integrated Crypto.com Pay, which enables users to seamlessly buy crypto with their credit or debit card, alongside existing payment methods. Users are not required to have a Crypto.com App to make their purchase. Read more about this on Crypto.com.   In its latest core developers call, Ethereum’s developers agreed it will go ahead with releasing a public test network as part of the Shanghai upgrade by the end of February. This upgrade will focus on ETH staking withdrawals and will not include any EVM Object Format changes as previously proposed. DeFi protocol Balancer issued a warning to its liquidity providers to remove their funds from five pools as soon as possible, where around US$6.3 million of funds are at risk. An Immunefi researcher known as ‘pwning.eth’ reported a critical vulnerability that affected three Polkadot parachains (Moonbeam, Astar Network, and Acala), avoiding a potential loss of about $200 million. The bug was found in June 2022 via a software called Frontier, and was only disclosed by Immunefi to the public recently. Due to a bug in the validator client’s latest test release version 1.14, Solana Foundation’s Remote Procedure Call (RPC) endpoints went offline. RPC endpoints are the nodes that act as a gateway for dApps and wallets to the blockchain. Solana said that the incident did not affect block production but also urged those operating a node on a test release version to change over to 1.13. Read next: Total market capitalisation has risen by 1%. Bitcoin trust Grayscale went up by 12%. Tokenised US Treasury bonds have been launched | FXMAG.COM Recent Research Reports     Alpha Navigator: Quest for Alpha [December 2022]: The new year sees crypto outperforming equities and gold. BTC options implied volatilities are subdued while perpetual futures funding rates are positive. 2022 Year Review & 2023 Year Ahead: 2022 has been a rollercoaster ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 Weekly (11/01/2023) (crypto.com)
It seems that less-than-expected Ether hodlers want to unstake

USD Coin popularity has increased. According to Michael Novogratz, significant decreases of cryptocurrency prices are unlikely

Alex Kuptsikevich Alex Kuptsikevich 12.01.2023 13:49
Bitcoin rose on Wednesday on the back of stock gains and strengthened further on Thursday morning. In the low-liquid morning market, stop-loss orders were triggered, pushing the price up 4% within an hour and a half. At the peak, the price climbed to $18.3K but then retreated to $18.0K. Santiment estimates that crypto whales resumed buying in early January. In five days, addresses controlling between 1,000 and 10,000 coins increased their reserves by more than 20,000 BTC. Realised volatility in bitcoin and Ethereum fell to extreme lows, which historically preceded explosive moves in either direction, Glassnode said. Registering its 9th consecutive trading session of gains, Bitcoin is testing the downtrend resistance line and the area of previous local highs. Therefore, today's bitcoin momentum will likely be decisive for the next few days and may even register a long-term reversal, returning the market to the active buying phase. Read next: GM, Ford, Google And Solar Producers Would Work Together To Set Standards For Increasing The Use Of VPPs| FXMAG.COM On the other hand, the RSI on the daily charts has entered overbought territory as a long lull preceded the last rally. Are the bulls getting tired? We will find out in the next couple of days. Bloomberg strategist Mike McGlone said he believes in the future of the first two cryptocurrencies Galaxy Digital founder Michael Novogratz said that we shouldn't expect cryptocurrencies to fall significantly, but it's too early to talk about a broad recovery. According to him, the cryptocurrency industry needs time to lick its wounds and restore confidence. But BTC and ETH have stabilised in recent months and have even risen in recent days. Bloomberg strategist Mike McGlone said he believes in the future of the first two cryptocurrencies. Bitcoin and Ethereum will perform better than other assets, but they will still come under pressure when the stock market falls. McGlone is confident that ETH will hold support at $1,000. According to Glassnode, the popularity of the stable USD Coin (USDC) has risen sharply since the collapse of FTX. Users are more likely to choose this stablecoin because of monthly audits by accounting firm Grant Thornton on USDC and the collateral of short-term US government bonds.
Kim Cramer Larsson takes a technical look at Bitcoin and Ethereum

Gemini and Genesis have been charged by US Securities and Exchange Commission

Alex Kuptsikevich Alex Kuptsikevich 16.01.2023 08:53
The bitcoin price has surpassed $21K, adding around 23% over the week. Ethereum jumped 20% to $1570. Other leading altcoins in the top 10 gained between 9% (BNB) and 50% (Solana). Solana has re-entered the top 10, pushing Polygon aside. The total capitalisation of the crypto market, according to CoinMarketCap, rose 18.4% over the week, once again approaching $1 trillion. It's easy to see that Bitcoin was outperforming this time, which can easily be attributed to the positivity of the stock market last week. The first cryptocurrency also responded very well to technical signals. Since securing above the 50-day average on January 4, bitcoin has been closing all days with gains. A consolidation above the previous local high and a break of the downtrend resistance caused an acceleration in growth. BTCUSD closed above the 200-day average on Friday, contributing to the weekend's positive momentum. Trading near the $21K level brought quotes back to the area before the FTX crash, and this is a new test of the local highs. Traders might want to be prepared that the market will need a short-term correction towards $19.5K before we see another momentum, as locally, Bitcoin looks overheated. Read next: Lowering The Price Of Electric Vehicles Is Supposed To Be Tesla's Unusual Strategy To Generate Demand In The US Market| FXMAG.COM Crypto lending platform Nexo recorded a significant outflow of customer funds amid reports of searches at its Bulgarian office as part of an investigation into potential AML policy violations The US Securities and Exchange Commission (SEC) has charged cryptocurrency exchange Gemini and crypto lending service Genesis with selling unregistered securities. Crypto lending platform Nexo recorded a significant outflow of customer funds amid reports of searches at its Bulgarian office as part of an investigation into potential AML policy violations. Authorities have accused the crypto bank of money laundering, tax irregularities, fraud and providing banking services without a licence. The Republican Party, which won a majority in the lower house of the US Congress late last year, has begun forming a subcommittee to regulate cryptocurrencies. The new CEO of cryptocurrency hardware vendor Trezor, Matej Zak, said the financial independence that bitcoin brings is far more important than its market value. He said there will be a consolidation of the crypto market in 2023 and then a bullish trend, which Trezor plans to prepare for.
Bitcoin amid recent banking sector situation: simply put, it is no longer a question of yield but safety

2023 predictions: The price of major cryptocurrencies such as Bitcoin or Ethereum could maintain a relatively high correlation with the S&P 500 index currently standing at around 0.52

Santa Zvaigzne Sproge Santa Zvaigzne Sproge 13.01.2023 10:19
How will the price of the most important cryptocurrencies change in 2023 - Bitcoin, Ethereum, Dogecoin? Please justify the forecast. The price of major cryptocurrencies such as Bitcoin or Ethereum could maintain a relatively high correlation with the S&P 500 index currently standing at around 0.52. Meanwhile, the value of so-called Meme coins such as Dogecoin or Shiba Inu, among others, seems extremely difficult to predict as it depends largely on their popularity at any given time and general sentiment in the crypto market. For this reason, the current extremely pessimistic mood may be expected to warm up on the virtual currency markets as soon as the stock – and especially tech – market is revived. Nevertheless, it should be emphasized that a return to their peaks and the previously occurring FOMO phenomenon may be unlikely to happen in 2023. Which cryptocurrency may turn out to be the "dark horse" of 2023 and bring excessive profits to its owners? Looking at the strong correlation of most of the cryptocurrency market to the Bitcoin quote (of more than 0.6 according to Conotoxia analysts’ calculations), it is rather impossible to spot a 'dark horse' in this market. As in horse racing, the outlier is only found during the race. How will the stablecoin market function in 2023, after the bankruptcy of TerraUSD? Surely, one of the first factors to shake confidence in digital currencies last year was the collapse of the stablecoin TerraUSD. Although, the crypto market’s further downturn is believed to be more closely linked to the tech stock market decline rather than UST’s collapse. Furthermore, the bankruptcy of the FTX exchange was another hit to the already volatile crypto market confidence. According to data from “Stablecoin Printer”, not a single USDT, USDC, or BUSD was printed during December 2022, meaning that the growth in the interest in stablecoin has fully halted. A potential breakthrough in the future may be a stablecoin that is fully backed by a fiat currency inducing confidence among investors as opposed to the currently used algorithmic solutions.
Coinbase, Microstrategy, Block and cryptocurrencies rose despite market uncertainty

Spanish Central Bank will test EURM - euro-linked stablecoin

Alex Kuptsikevich Alex Kuptsikevich 20.01.2023 09:26
The cryptocurrency market has added 0.75% in the last 24 hours to 976bn, with Bitcoin rising by the same amount, testing $21K again. The former cryptocurrency has corrected to 76.4% of the rally from December lows to this week's highs. It cannot be ruled out that this is the end of the shakeout. Such shallow pullbacks are normal for strong bull markets in stocks or other assets. Confirmation that Bitcoin, with the crypto market, is once again bullish will be a recent high of $21.6K, clearing the way for $24.6K 161.8% Fibonacci, where the 200-week moving average also passes. Banking group National Australia Bank (NAB) has announced plans to launch an AUDN stablecoin Crypto lending platform Genesis Global Capital, part of Digital Currency Group (DCG), is preparing to declare bankruptcy. According to knowledgeable sources at Bloomberg, the company will do so in the coming days, with Genesis' debt levels reaching $3bn. Genesis' problems stemmed from the default of hedge fund Three Arrows Capital in June, with the collapse of FTX exacerbating the situation. DCG is considering selling its subsidiary CoinDesk. The US Department of Justice has arrested Bitzlato cryptocurrency exchange platform founder Anatoly Legkodymov on charges of laundering $700M related to the closed darknet marketplace Hydra. Banking group National Australia Bank (NAB) has announced plans to launch an AUDN stablecoin, pegged to and fully backed by the Australian dollar. AUDN will launch based on Ethereum and Algorand in the middle of the year. In cooperation with fintech company Monei, Spain's central bank will test EURM, a EUR-linked stablecoin, over the next 6-12 months.
Past bubbles and AI. "It turns out that almost every time historically there has been a technology that has revolutionised reality, it has been over-invested in"

Over the past 30 days, Ethereum-based NFT trading volumes have grown by 45%. Google earnings: Wall Street's forecast for its report is EPS 1.18

Serhii Zhdanov Serhii Zhdanov 30.01.2023 16:26
It's striking how after months of cryptowinter and bearish sentiment on crypto market, related assets are back rising. Apart from crypto theirselves, NFTs are gaining attention as well, as after Sewer Pass launch, the market seems to have recovered. But NFT market is not the only thing which are worth discussing as Google (Alphabet) release their earnings shortly. We asked Serhii Zhdanov about his opinion about these issues. FXMAG.COM: Is the NFT market reviving? Sewer Pass seems to have delivered a real impulse… Serhii Zhdanov (EXMO): Yes, the NFT market has revived slightly since the launch of the Sewer Pass.  Over the past 30 days, Ethereum-based NFT trading volumes have grown by 45%, while the number of sellers has decreased by more than 26% year-to-date. Market participants have started showing an increasing interest in NFTs. Undoubtedly, the launch of new NFT projects, such as the Dookey Dash game, contributes to such growth. And while this game has its flaws, the hype around it cannot be denied. Over the past year, we have observed one distinct trend: currently, it's not enough to simply launch a product. Developers need to persistently attract the interest of the public by implementing product upgrades and launching interesting activities. Yes, the Sewer Pass has given a slight boost to the NFT market. However, remember that the excitement around the game is also associated with the revival of the entire crypto market. If cryptocurrencies continue to grow, it is safe to say that NFTs will be back on track again. Read next: CMC analyst ahead of FOMC: I am surprised at how complacent markets are about this weeks Fed decision| FXMAG.COM FXMAG.COM: Are you of the opinion that Alphabet can disappoint investors with its earnings? Serhii Zhdanov: It is worth noting that Alphabet already “disappointed” investors throughout 2022. EPS/Forecast Rev/Forecast: 25.10.2022: 1.06 1.26 $69.09 billion/$70.98 billion 26.07.2022: 1.21/1.27 $69.69 billion/$69.8 billion 26.04.2022: 1.23/25.74 $68.01 billion/$68.06 billion For this reason, investors are unlikely to be "disappointed" with the company's earnings. Wall Street's forecast for its report is EPS 1.18 and revenue of $76.07 billion. Considering recent events, the company is unlikely to beat these numbers. Not so long ago, the U.S. Department of Justice and eight states sued Alphabet to break up its advertising technology business, as well as optimise business (cost reduction and layoffs). All these factors do not evoke investor optimism. The entire tech sector was under pressure in 2022. However, there is a noticeable trend being observed: despite the fact that stock market reports are mixed, the reaction to them is turning more positive. Recent reports from Tesla, Microsoft and Netflix prove this right.  The upcoming FOMC Rate Decision, as well as Apple and Amazon reports, will also affect the price of Alphabet. Between 30th January and 03rd February 2023, the volatility of the markets is expected to remain increased. Especially, if you take into account the local hype around risky assets. The upcoming FOMC Rate Decision, as well as Apple and Amazon reports, will also affect the price of Alphabet. It’s recommended that investors keep a close eye on the $100 level for GOOG or GOOGL, as this is where serious resistance is observed.
It seems that less-than-expected Ether hodlers want to unstake

Cryptocurrency: Ethereum - the Zhejiang public testnet went live

ByBit Analysis ByBit Analysis 02.02.2023 11:56
Daily Top Mover — Treasure (MAGIC)   Equities soared as the Fed lifted its benchmark interest rate by a well-expected 25bps. While Fed Chair Jerome Powell’s acknowledgment of ongoing disinflation buoyed the market, he has not alluded to any rate cuts in 2023. Meanwhile, the broader cryptocurrency market followed in the footsteps of equities, with Bitcoin and Ether up by 2.43% and 2.84%, respectively, in the past 24 hours. The top mover for today, MAGIC, registered a 24-hour return of 30.0%, outperforming the broader market as active users surged.      MAGIC is the native token of Treasure, a decentralized gaming ecosystem built on Arbitrum. Treasure is a platform to onboard web3 users to blockchain games, supporting a number of games with infrastructure, such as NFT marketplace Trove and decentralized exchange MagicSwap. The recent outperformance comes as active users on Treasure surged, sending tailwinds to MAGIC due to enhanced utilities. The spiking of active users was likely attributed to a newly launched Game Builder Program, which aims to support and incentivize aligned, high-potential games building in the Treasure ecosystem. Among ecosystem games, The Beacon has the strongest user growth of late.   Market Check   Check Out the Latest Prices, Charts, and Data for MAGIC/USDT!   Talk of the Town     Ethereum’s Shanghai upgrade has been all the rage as we approach the set date in March. Till then, Ethereum’s core developers have been working hard to fine-tune testnets and upgrades to ensure a successful upgrade. On Wednesday 1 Feb, 2022, the Zhejiang public testnet went live. This testnet will undergo another upgrade on 7 Feb, 2022, allowing users to test and simulate withdrawals of their staked ETH in preparation for the Shanghai upgrade.     Check out what else is buzzing in the crypto scene today:   Judge Bans Sam Bankman-Fried From Contacting FTX Employees and Using Signal. (Link)   US Blacklists Bitcoin, Ether Addresses Tied to Russian Sanctions-Evasion Efforts. (Link)   Social Token Project Rally Shuts Ethereum Sidechain, Stranding Users’ Crypto Assets. (Link) Source: Bybit Blog | Treasure’s (MAGIC) Active Users Surge; Ethereum Launches Public Testnet ‘Zhejiang’
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Twitter getting closer to digital payments support. Indonesia's Ministry of Trade may roll out a national crypto exchange

Crypto.com Accelerate the... Crypto.com Accelerate the... 06.02.2023 14:07
Cronos Labs opens applications for second cohort of the Cronos Accelerator Program. Indonesia’s Ministry of Trade to roll out a national crypto exchange. Ethereum launches test network, Zhejiang, for staked ETH withdrawal testing. Weekly Market Index Last week’s crypto market prices were flat at -0.97%. Volume dropped slightly by -1.79% and volatility increased by +50.83%.     Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were down -3.2% and -0.5% in the past seven days, respectively. Shiba Inu (SHIB) was the top performer among selected top-cap tokens. The team behind Shiba Inu recently announced the upcoming beta release of Shibarium, a layer-2 network that will operate on top of Ethereum. Read next: Adani Group Company's Crisis Is Gaining Momentum, Finland Is The Happiest Country| FXMAG.COM     News Highlights Blockchain startup accelerator Cronos Labs announced the opening of applications for its second cohort of the US$100 million-backed Cronos Accelerator Program. The program aims to provide selected projects with upfront seed funding of US$30,000 in addition to mentoring, masterclasses, and support from industry experts. The U.S. Federal Reserve raised target interest rates by 0.25% to the 4.50% to 4.75% range, in line with market expectations. Indonesia’s Ministry of Trade is reportedly aiming to roll out a national crypto exchange by June this year. This exchange would act as a clearing house and custodian in the local crypto market. Ethereum developers opened a new test network called “Zhejiang,” where users can start testing staked ether withdrawals, which will be included in the protocol’s upcoming “Shanghai” upgrade. Twitter has started applying for licenses in the United States to allow the social media giant to support digital payments. Currently, the main focus revolves around enabling fiat payments, although anticipation for crypto functionality is building. Recent Research Reports AI-Generated Content and Applications in Web3: Artificial Intelligence-Generated Content (AIGC) has taken the world by storm recently, with popular applications like ChatGPT and DALL-E. We analyse its potential applications in Web3. Crypto Market Sizing Report: Global crypto owners reached 425 million by the end of 2022. Bitcoin and Ethereum owners grew by 20% and 263%, respectively. 2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: Crypto Market Pulse (06/02/2023)
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

End of the Ethereum uptrend? Bull and Bears led to a consolidation

FXStreet News FXStreet News 07.02.2023 16:02
Ethereum price hovers below a monthly resistance level of $1,677 after multiple rejections. Transaction data and whale movements suggest a local top has already formed and that the trend reversal is underway. A daily candlestick close that flips the monthly hurdle at $1,677 into a support floor will invalidate the bearish thesis for ETH. Ethereum price shows multiple signs that this uptrend has lost its steam. There is clear power struggle between the bulls and bears, which has led to a tight consolidation. But odds seem to be favoring the sellers. Ethereum price needs to decide its next move Ethereum price chart looks simple and indicates that a rejection at the monthly hurdle of $1,677 will lead to a correction to the $1,329 support level. But a flip of the said level could trigger a rally for ETH. While the price chart remains the same, certain sell signals are developing, as seen in the on-chain metrics. IntoTheBlock’s Global In/Out of the Money (GIOM) reveals a massive cluster of investors at $1,928. Here roughly 7.7 million addresses that purchased 25.5 million ETH are “Out of the Money.” These investors bought their ETH between $1,666 and $2,351 and are likely to sell their holdings as ETH enters their buy zone. This move would add weight to the selling pressure triggering a liquidation of the longs. Hence, a move into the $2,000 psychological level seems highly unlikely, at least until Bitcoin price recovers. ETH GIOM Further adding credence to this outlook is the large transactions worth $100,000 or more on the ETH network. This metric is used as a proxy to the number of whales or institutional investors interacting with the Ethereum network. Typically, a sharp increase in large transactions after a rally indicates these whales could be moving their holdings to book profits. Hence, upticks in this metric can be used to predict local top formations. Read next: The Court In Munich Decided In Favor Of BMW| FXMAG.COM As for Ethereum, the large transactions have spiked from 2,020 to 4,070, denoting a roughly 100% surge in whales’ interaction with the Ethereum network and potential for local top formation. ETH large transactions Adding these two outlooks to the fact that Bitcoin price is also forming a potential top will provide a more succinct picture of the market conditions. Therefore, investors need to be cautious. On the other hand, a flip of the $1,677 monthly hurdle into a support floor will confirm that the bulls are back. In such a case, Ethereum price could attempt to retest the immediate hurdles at $1,779, $1,820 and the $2,000 psychological level.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Louis Vuitton celebrates 200th anniversary. Company teams up with Yayoi Kusama to release 10.000 NFT project

Crypto.com Accelerate the... Crypto.com Accelerate the... 13.02.2023 12:03
Ethereum’s Sepolia testnet for staked $ETH withdrawals is set for 28 Feb. China to open a national blockchain research centre. Louis Vuitton partners with artist Yayoi Kusama for 10,000-NFT project. Weekly Market Index Last week’s crypto market prices were down at -4.84%. Volume and volatility also dropped by -4.23% and -15.13%, respectively.     Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were down -5.2% and -7.3% in the past seven days, respectively. Other selected top-cap tokens also mostly fell, although Polygon (MATIC) put in a slightly positive performance. Recently, core developers shared statistics related to the stress-testing of Polygon’s zkEVM and the Polygon co-founder also shared the progress the blockchain is making on becoming a ZK-secure ecosystem.     News Highlights China plans to launch a national blockchain research centre in Beijing. The centre will create a research network with local universities, think tanks, and blockchain businesses to explore core blockchain technologies. Ethereum developers set 28 February as the target date for the Sepolia testnet, the second round of testing for staked ETH withdrawals. This follows the recent Zhejiang testnet. Louis Vuitton teamed up with Japanese artist Yayoi Kusama to release a 10,000-NFT project in celebration of its 200th anniversary. While many fashion brands have launched collectables in the past, Louis Vuitton is taking things a step further by allowing fans to trade in their NFTs for physical items. Read next: Amazon Is Slowly Dismantling Tony Hsieh’s Version Of Zappos, Louis Vuitton Doubled Sales| FXMAG.COM Recent Research Reports     Research Roundup Newsletter (January 2023): In our latest issue, we feature trending market insights and our research on artificial intelligence trends, the rise of AI-generated content, and their applications in blockchain and Web3. Alpha Navigator (January 2023): Crypto outperforms other asset classes in January by a large margin. BTC options put-call ratio at a yearly low, implying shift to positive sentiment. AI-Generated Content and Applications in Web3: Artificial Intelligence-Generated Content (AIGC) has taken the world by storm recently, with popular applications like ChatGPT and DALL-E. We analyse its potential applications in Web3. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET UPDATES Source: Crypto Market Pulse (13/02/2023)
Bitcoin to US dollar - technical analysis by Petar Jacimovic on April 21st

Exness' analyst about the crypto dark horse of 2023: It would probably be better to focus on surviving the winter first, especially given that more bankruptcies and negativity might be around the corner.

Michael Stark Michael Stark 14.02.2023 11:09
Crypto industry seems to be in one of the most tempting periods in its history as after a turbulent 2022, it's time to finally get down to business and improve some regulations and "stability" of the crypto exchanges. Michael Stark, analyst at Exness shares his views on 2023 with us and also points a probable dark horse of the year, which some may find surprising. How will the price of the most important cryptocurrencies change in 2023 - Bitcoin, Ethereum, Dogecoin? Please justify the forecast. Michael Stark (Exness): It's impossible to predict how crypto will move in 2023 at the moment because this depends very heavily on how quickly inflation comes down and how central banks move over the second and third quarters. The 'base case' seems to be a limited recovery by crypto, with bitcoin and most major altcoins making some gains and volatility possibly increasing.Unless there's a sudden resurgence in inflation, which currently looks very unlikely, central banks are likely to stay the course without many more large hikes in major, advanced economies. As of now, the possibility of inflation declining sharply and central banks scrambling to drive it back up to 2% seems very remote, but this scenario should be considered if there's a deeper recession than expected. Which cryptocurrency may turn out to be the "dark horse" of 2023 and bring excessive profits to its owners? I think it could be Cronos, formerly crypto.com coin. Every significant cryptocurrency was down sharply last year, but the exchange-specific ones were some of the hardest hit because the public's trust in exchanges collapsed after the FTX scandal. However, crypto.com has so far been among the less affected large crypto companies, and with its user base growing and rewards remaining fairly popular, there could be significant demand for Cronos. Read next: Bartosz Milczarek, CEO at Cryptiony: Customers settle the crypto tax in annual returns, so our business model is also based on annual subscriptions | FXMAG.COMHaving said that, looking for any dark horse in crypto markets now seems quite difficult. It would probably be better to focus on surviving the winter first, especially given that more bankruptcies and negativity might be around the corner.
Vega Protocol has seen an increase as the protocol is anticipated to go live

Polygon zkEVM mainnet beta will be live on March 27 this year

ByBit Analysis ByBit Analysis 15.02.2023 12:16
Daily Top Mover — Curve DAO (CRV)   U.S. equities had mixed performance overnight as January’s CPI reading exceeded the market’s expectations, whereas a broader basket of common goods and services saw an uptick in inflationary pressures. Meanwhile, the broader cryptocurrency market rebounded as the community took a breather from the Paxos drama, with Bitcoin and Ether up by 1.70% and 2.99%, respectively, in the past 24 hours as of the time of writing. The top mover for today, CRV, registered an increase of 21% from Tuesday’s low, outperforming the broader market due to anticipation of crvUSD and favorable sentiment toward decentralized stablecoin.  Read next: Bartosz Milczarek, CEO at Cryptiony: Customers settle the crypto tax in annual returns, so our business model is also based on annual subscriptions | FXMAG.COM     CRV is the native token of Curve DAO, where holders own voting rights to direct CRV rewards to liquidity pools. The most popular pool in Curve is 3pool, comprised of DAI, USDC, and USDT, which leads to the dominance of stablecoin trading on the platform. The recent outperformance of CRV comes as Paxos announced to stop supporting BUSD due to regulatory pressures, resulting in negative sentiment toward centralized stablecoin and, in turn, benefiting decentralized stablecoin. On the other hand, crvUSD, the upcoming stablecoin issued by Curve, has the potential to take up market share as it is the first stablecoin issued by a decentralized exchange.   Market Check Check Out the Latest Prices, Charts, and Data for CRV/USDT!   Talk of the Town     Prominent Ethereum Layer 2 solution, Polygon, announced launching the zkEVM mainnet beta on March 27, 2023. Since public testnets launched in October 2022, Polygon’s zkEVM has been battle-tested by testnet usage and auditing. Polygon zkEVEM is “EVM equivalent”, an more advanced than EVM-compatible Layer 2 solutions. Polygon claims its zkEVM solution will be cheaper and faster than its competitors.   Check out what else is buzzing in the crypto scene today:   Circle reportedly sounded alarm on Paxos, and told NYDFS Binance’s stablecoin wasn’t fully backed. (Link) Bitcoin hits record 44M non-zero addresses, thanks to Ordinals. (Link) Korea’s second-largest city pushes for being a crypto hub. (Link) CME Group to offer retail traders a new way to bet on BTC direction. (Link)
Kim Cramer Larsson takes a technical look at Bitcoin and Ethereum

Kim Cramer Larsson takes a technical look at Bitcoin and Ethereum

Kim Cramer Larsson Kim Cramer Larsson 16.02.2023 16:42
Summary:  Bitcoin and Ethereum are testing key resistance levels after a strong comeback. But they could be caught being range bound before break out Bitcoin BTCUSD is close to test resistance at around 25K. A break above could extend the uptrend to next resistance at around 28K but would have potential up to the upper range of the Consolidation area at around 32,384.However, RSI is showing divergence i.e., the past couple of days bullish market is not supported by the Strength Indicator. An indication of a sustainable push higher would be if RSI breaks above its falling trendline.If Bitcoin is being rejected and slides back support at around 21,475 could be tested. Source: Tradingview and Coinbase Ethereum ETHUSD seems range bound between 1,460 and 1,700. RSI is showing divergence but has broken above the falling trendline which could be an indication ETH is set to move higher but the crypto seems to be struggling to leave the range.If ETH succeeds next resistance at around 1,790 and around 2K close to the 1.618 projection of the November sell-off.A break below 1,460 down trend would resume with support at 1,318. Read next: RBNZ Preview: 50bp hike, but the peak is close| FXMAG.COM   Source: Tradingview and Coinbase RSI divergence explained: When instrument price is making a new high/low but RSI values are not making new high/low at the same time. That is a sign of imbalance in the market and an weakening of the uptrend/downtrend. Divergence or imbalance in the market can go on for quite some time but not forever. It is an indication of an exhaustion of the trend Source: Technical Update - Bitcoin and Ethereum testing key resistance. Could be range bound for a while | Saxo Group (home.saxo)
According to Wall Street Journal, banks are ending partnerships with crypto firms

According to Wall Street Journal, banks are ending partnerships with crypto firms

Alex Kuptsikevich Alex Kuptsikevich 20.02.2023 11:26
Bitcoin gained 11.5% last week to close at $24.5K. The price stabilised near this level at the start of the new week. The cryptocurrency's market capitalisation rose 9.3% last week to $1.12 trillion. Almost all of the growth came in the first half of the week, with smaller gains in the final days. Sunday saw a fresh attempt to push BTCUSD above $25K. However, the bulls failed to form a nice weekly candle to close above a significant level, leaving the rate below the 200-week average and touching the 50-week. Buyers may be more cautious in the coming days as a death cross formed on the weekly timeframes last week, although it should not be taken as a sell signal. Ethereum grew 9.5% to $1680. Other leading altcoins in the top 10 gained between 1.2% (XRP) and 16.7% (Polygon). The exception was BNB (-2.3%). The total capitalisation of the crypto market rose 8.3% over the week to $1.11 trillion, according to CoinMarketCap. News background US authorities continue their "cryptocurrency crusade". The US Securities and Exchange Commission (SEC) has charged Terraform Labs (TFL) and its CEO, Do Kwon, with running a multi-billion-dollar securities fraud scheme. The SEC charged TerraUSD (UST) and the LUNA token with algorithmic stablecoin. Read next: Twitter And Elon Musk Faced A Growing List Of Claims| FXMAG.COM US Senate Banking Committee Chairman Sherrod Brown called for a comprehensive regulatory framework for cryptocurrencies to protect investors from losing money. The congressman recalled that the digital asset market lost $1.46 trillion in capitalisation in 2022 and that cryptocurrencies have cut more than 1,600 jobs. The Wall Street Journal wrote that banks are ending partnerships with crypto firms for fear of reprisals from regulators threatening to separate digital assets from the traditional financial system. Platypus, a decentralised financial protocol based on the Avalanche blockchain, suffered an attack in which a hacker stole around $8.5 million in crypto assets. However, Chainalysis estimated that during 2022, the total amount of money raised by cryptocurrency fraudsters fell from $10.9 billion to $5.9 billion.
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

Undoubtedly, the Shanghai upgrade will significantly impact ETH's price and volatility

Serhii Zhdanov Serhii Zhdanov 22.02.2023 11:57
The Ethereum Shaghai udpate is getting closer and closer. Judging from the past – could the Ethereum Shanghai update can affect the token's price? Serhii Zhdanov (EXMO CEO): The upcoming Shanghai upgrade is an important event for the market. It is second only to the Merge in terms of significance to the crypto industry. The update allows users to withdraw staked ETH and includes several improvements to the system. Typically, upgrades like Shanghai add new features and functionality to the Ethereum network Undoubtedly, the Shanghai upgrade will significantly impact ETH's price and volatility. However, it is difficult to predict the market reaction. The Merge is a great example of this. The reaction of market participants to the upgrade was quite positive. Investors and speculators appreciated it. ETH’s price went up rapidly but was followed by profit-taking. However, it's worth noting that at that time, the market situation was completely different with general oversold conditions and a storm of negative news. At that moment, any good news could significantly move ETH's price up. And the fact that the upgrade went live successfully added positive energy to the dull market. Read next: The AUD/USD Pair Remains Under Selling Pressure, The GBP/USD Pair Is Below 1.21 Again| FXMAG.COM Currently, market conditions are different. The market has risen, there is good news and many believe that the bull market has already begun. Typically, upgrades like Shanghai add new features and functionality to the Ethereum network. This certainly attracts the attention of both long-term and short-term traders, and they can push the price of ETH to new local highs. The opposite effect is also possible. If the upgrade is unsuccessful or there are any issues during the launch, the effect on ETH's price can be negative. Therefore, it is worth correctly assessing the risks, especially for short-term traders. As for ETH's price, you need to keep an eye on the $1,700 level, which is a strong resistance level. If this level is broken through, there is a possibility that ETH can go above $2,000.
Coinbase, Microstrategy, Block and cryptocurrencies rose despite market uncertainty

According to CoinShares, cryptocurrency investments shrank by $2mln last week

Alex Kuptsikevich Alex Kuptsikevich 28.02.2023 09:12
The crypto market bides its time Over the past 24 hours, Bitcoin has fallen 0.25% to $23.4K. The total capitalisation of the crypto market has fallen 0.3% to $1.07 trillion. The slight decline came despite a rebound in global stock indices. The crypto market has seen minimal changes since the start of the day, indicating a wait-and-see attitude. The short-term technical picture is bullish for Bitcoin, with the price above its 50-day average and near late January's local highs. Ethereum's uptrending 50-day twice acted as support in February. Resistance since last October remains at the 1700 level. ETHUSD is selling off from here. According to CoinShares, investments in cryptocurrencies decreased by $2 mln last week, the third consecutive week of declines. Investments in bitcoin fell by $12 mln and Ethereum by $0.2 mln. Investments in funds that allow shorts on bitcoin increased by $10 mln. Over the past few weeks, Santiment has seen a slowdown in bitcoin whales’ activity. There has also been a decrease in activity among mid-sized addresses controlling between 10 and 100 BTC. According to Morning Consult, 20% of US adults (over 50 million people) own cryptocurrencies Michaël van de Poppe, Eight platform founder, remains bullish, saying the bear phase is over, and Bitcoin is about to break out. According to IntoTheBlock, 39% of Ethereum's total supply is concentrated on the balance sheets of a limited number of addresses. This starkly contrasts Bitcoin, where whales account for no more than 11% of the total. Read next: Altria Is Trying To Purchase E-Cigarette Startup NJOY| FXMAG.COM The ongoing cryptocurrency crisis and tighter regulation have had no impact on interest in digital assets. According to Morning Consult, 20% of US adults (over 50 million people) own cryptocurrencies.
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Microsoft is partnering with Ankr - decentralised blockchain infrastructure firm

Crypto.com Accelerate the... Crypto.com Accelerate the... 01.03.2023 12:49
Ethereum’s second testnet was successfully activated. Decentralised perpetual exchange Fulcrom Finance is live. Solana suffered a 20-hour outage with the root cause still unknown. Weekly DeFi Index This week’s market cap, volume, and volatility indices were negative at -1.96%, -22.18%, and -6.94%, respectively.         Yearn Finance (YFI) developers announced that they will soon launch a liquid staking product called yETH, enabling users to gain exposure to a basket of liquid staking derivatives via a single token. New Project Spotlight Decentralised perpetual exchange Fulcrom Finance is live. Built on the Cronos blockchain, it enables users to trade with up to 25x leverage while enjoying low fees and negligible price impact. Visit the Fulcrom website to learn more.         News Highlights Ethereum developers have successfully activated the Shanghai-Capella upgrade on the Sepolia testnet. The upgrade will be released to the Goerli testnet as a final run-through before the full launch on the mainnet next month.  After more than 150,000 ETH were staked with Lido Finance in a single day, a safety precaution known as ’staking rate limit’ for the liquid staking protocol was activated.  Tech giant Microsoft is partnering with decentralised blockchain infrastructure firm Ankr to provide an innovative node hosting service that will become available on the Microsoft Azure Marketplace. The partnership will see an integration of both companies’ technologies, pairing Ankr’s innovation in blockchain infrastructure with Microsoft’s cloud solutions.  Web3 infrastructure firm Jump Crypto and DeFi platform Oasis.app carried out a “counter exploit” on the Wormhole protocol hacker after receiving an order from the High Court of England and Wales. They recovered US$225 million in digital assets, which were moved to a secure wallet.  A number of the Polygon blockchain’s nodes went out of sync on Wednesday, leading to a chain reaction of issues that affected performance and caused the widely used blockchain explorer PolygonScan to go offline.  The Solana blockchain suffered a 20-hour outage over the weekend, forcing its validators to restart the network twice after on-chain activity froze. According to its developers, the reason for the network-wide outage is still unknown and inquiries are underway. The algorithmic backing for the DeFi protocol Frax Finance was removed after a community vote to fully collateralise the protocol’s native stablecoin Frax (FRAX) was passed. MyAlgo, a native wallet for the Algorand blockchain network, advised its users to withdraw their funds. This was in response to a $9.6 million exploit that it encountered last week, which affected 25 wallets. Read next: Some McDonald's Locations Don't Promote Hip-Hop Stars' New Meal| FXMAG.COM     Research Roundup Newsletter [January 2023]: In our latest issue, we feature market insights and our research on artificial intelligence trends, the rise of AI-generated content, and their applications in blockchain and Web3. Alpha Navigator: Quest for Alpha [January 2023]: Crypto outperforms other asset classes in January by a large margin. BTC options put-call ratio are at a yearly low, implying a positive sentiment shift. AI-Generated Content and Applications in Web3: Artificial Intelligence-Generated Content (AIGC) has taken the world by storm recently, with popular applications like ChatGPT and DALL-E. We analyse its potential applications in Web3. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES
ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

Ethereum: Introducing Shanghai upgrade on Goerli test network to take place on March 14

Alex Kuptsikevich Alex Kuptsikevich 03.03.2023 12:18
Bitcoin plunged more than 6% to $22.0K early this morning. The plunge into this area came as a market reaction to the potential bankruptcy of Silvergate. The news triggered a wave of stop orders on fears that the situation could cause a domino effect in the industry, as with FTX earlier in the day. Technically, the dip has pushed the price below its 50-day moving average, which does not bode well for the short-term outlook, although this signal will only be reliable at the close of the day. The intraday picture is one of tidy buying after a brief dip. The overall moderately positive sentiment in the global markets supports the buy-the-dip mood. Read next: NAGA analyst on Eurozone inflation: This is likely to trigger a more restrictive monetary policy from the ECB for two reasons | FXMAG.COM A return above $22.8 an ounce before today's close could spark further buying. Closing near the lows would be an essential signal to spread fear throughout the crypto market, suggesting a further drawdown to $19.7K in the coming weeks. Silvergate Bank has announced that it may file for bankruptcy due to a massive sell-off and an inability to repay its debts Shares in US holding company Silvergate Capital Corporation, which owns crypto bank Silvergate, plunged almost 49% on news of a delay in publishing its annual report to the SEC. The company said it needed "additional time" to complete its audit. Silvergate Bank has announced that it may file for bankruptcy due to a massive sell-off and an inability to repay its debts. Coinbase, the largest US cryptocurrency exchange, has announced severing its financial relationship with Silvergate Bank. According to Glassnode, retail bitcoin investors' purchases have outpaced coin issuance. Investors with balances up to 1 BTC ("shrimps") and between 1 and 10 BTC ("crabs") over the past year have bought 105% and 119%, respectively, more Bitcoins that were mined. Ethereum developers have set March 14 as the date for the Shanghai upgrade on the Goerli test network. If the test network upgrade succeeds, the main network upgrade could occur in the second week of April.
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

Ethereum price as other cryptocurrencies have been affected by FUD

FXStreet News FXStreet News 03.03.2023 16:54
Ethereum’s ERC-4337 has been deployed on the Ethereum mainnet, implementing a new token standard on the blockchain. Silvergate bank’s warning about possible inquiries from bank regulators and the US Department of Justice have resulted in a vast majority of crypto clients leaving the bank. The FUD from Silvergate’s announcement has triggered a decline in Bitcoin and Ethereum prices, ETH nosedived 4.5%. An Ethereum token standard ERC-4337 was quietly deployed on the mainnet earlier this week. It remains to be seen whether the deployment can aid the recovery of ETH after the decline in the altcoin’s price with uncertainty surrounding Silvergate bank. Ethereum’s ERC-4337 has been deployed on the mainnet An Ethereum network upgrade EIP-4337 quietly went live on the mainnet blockchain. The update ushers in a number of improvements for the ETH ecosystem. On March 1, EIP-4337 deployed on the Ethereum mainnet, the standard was initially proposed in September 2021. The proposal describes the upgrade as an account abstraction which completely avoids consensus-layer protocol changes instead of relying on higher-layer infrastructure. Account abstraction essentially allows ETH wallets to operate as programmable smart contracts. This would enable users to recover lost private keys, among other benefits. Silvergate FUD drives ETH price lower The recent announcement from Silvergate bank regarding likely regulatory and other investigations from bank regulators and the US Department of Justice have resulted in uncertainty among crypto market participants. The Fear, Uncertainty and Doubt (FUD) in the crypto ecosystem has negatively influenced Ethereum price, resulting in a 4.5% loss overnight. It remains to be seen whether the implementation of the ERC-4337 protocol will begin a recovery in Ethereum.
Bitcoin - technical analysis by Evangelos Poulikas - April 27th

According to Chainalysis, Ukraine was supported with about $50mln in Bitcoin and Ether

Coinpaprika News Coinpaprika News 04.03.2023 19:44
Ukraine and Russia used crypto to support war efforts Ukraine has received over $70 million in cryptocurrencies since the start of the Russian-Ukrainian conflict, providing the nation with funds for military equipment and humanitarian assistance. According to blockchain data platform Chainalysis, the majority of the funds came in the form of Ether and Bitcoin. ETH donors led the way with $28.9 million given, while donors of BTC and Tether chipped in $22.8 million and $11.6 million, respectively. Read next: Binance refutes Forbes' accusations, Mi Primer Bitcoin to be available in English | FXMAG.COM The increased reliance on cryptocurrencies in Ukraine looks to have increased adoption in the country, with Ukrainians being the third-highest adopters, behind Vietnam and the Philippines. However, pro-Russian military groups have also used cryptocurrency to crowdfund their war efforts, according to Chainalysis. Coinbase introduces crypto EURO Coinbase has listed Euro Coin (EUROC), the euro-pegged stablecoin introduced by Circle in June 2022. Unlike other euro-pegged stablecoins, such as Stasis Euro (EURS), Euro Tether (EURT), and sEUR (SEUR), EUROC is fully supported by Coinbase. Coinbase also offers varying levels of support for the US dollar stablecoins Tether’s USDT, Maker’s DAI, and Paxos’ PAX, although not all of them are listed on its main exchange. The announcement comes a day after Coinbase suspended trading of the Binance USD (BUSD) stablecoin and on the same day that the company launched its crypto policy advocacy program, Crypto 435.
Gold price isn't that impossible to reach $1975, Bitcoin decline "not that bad"

S&P 500 increase as leading cryptocurrency, Bitcoin and Ethereum, struggle to recover

FXStreet News FXStreet News 07.03.2023 16:32
Bitcoin and Ethereum price recovery is lagging behind the spike in S&P 500, following the Silvergate FUD. Analysts measured record levels of crypto fear and doubt on Twitter, with a huge spike in bearish sentiment. As US financial regulators toughen their stance on crypto firms, crypto gears up for a volatility-filled week. Bitcoin and Ethereum prices witnessed a decline on March 5, in response to the uncertainty surrounding Silvergate bank and its announcement of investigations by US financial regulators. Since March 5, the S&P 500 have recovered, soaring higher as sentiment among market participants turned bullish. In the case of crypto, the sentiment is largely bearish, on Twitter and social media platforms. It remains to be seen whether Bitcoin, Ethereum and cryptocurrencies will continue to lag or catch up with the S&P 500. Crypto lags behind the S&P 500 as US equities traders turn bullish Cryptocurrencies with large market capitalization, Bitcoin and Ethereum are struggling to recover from the recent decline on March 5. S&P 500 and US equities climbed higher as the sentiment among investors turned bullish. S&P 500 climbs higher while Bitcoin and Ethereum struggle to recover In a recent YouTube video, experts from Santiment argued that the Fear, Uncertainty and Doubt (FUD) among traders after crypto clients dropped Silvergate Bank and US financial regulator’s tightening stance on cryptocurrency regulation are fueling a bearish sentiment among market participants. Read next: Binance could get a record fine from the man... to whom it offered a job | FXMAG.COM Crypto intelligence tracker Santiment noted high levels of negative crypto sentiment, one of the highest levels of FUD ever recorded by the Santiment Feed. Sentiment among traders turned negative Experts believe traders can capitalize on this level of negativity on the markets, and overwhelmingly bearish sentiment typically leads to a bounce. According to analysts, the negative sentiment can be explained by the current events and the Securities and Exchange Commission’s critical stance on cryptocurrencies and crypto firms.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Spotify's token-gated playlists, Reserve Bank of Australia announces test of eAUD

Crypto.com Accelerate the... Crypto.com Accelerate the... 07.03.2023 21:21
Ethereum Shanghai update to run on Goerli testnet, mainnet update scheduled for April. Spotify debuts token-gated playlists for NFT holders. Reserve Bank of Australia announces pilot phase for eAUD. MAR 06, 2023     Weekly Market Index Last week’s crypto market prices were down -3.26%. Volume and volatility also decreased by -21.24% and -7.15%, respectively.     Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were down -4.6% and -4.5% in the past seven days, respectively. Other selected top-cap tokens also mostly fell.     News Highlights The much-anticipated Shanghai update, which will allow staked ether to be withdrawn from the Ethereum blockchain, is scheduled to run on the Goerli testnet on March 14. The event will be the final test before Ethereum’s upcoming hard fork on the mainnet. Additionally, Ethereum developers have pushed back the Shanghai hard fork and will now likely be deployed in April according to the Ethereum developer meeting.  Music streaming platform Spotify has debuted token-gated playlists that allow holders of selected NFTs to connect their wallets and listen to curated music from their communities. Israel’s public stock exchange, the Tel Aviv Stock Exchange (TASE), is proposing amendments that would permit certain clients to trade crypto assets. The Reserve Bank of Australia (RBA) announces a pilot phase for its digital version of the Australian dollar (eAUD). The RBA also invited firms such as ANZ and Mastercard to help explore use cases for the eAUD. Assets under management (AUM) for digital asset investment products grew to its highest level since May 2022. In February, the AUM for digital asset investment products increased by 5.2% from January to $28.3 billion, marking the third consecutive monthly growth. Read next: In crude oil, we are increasingly likely to see a year of two distinctive halves| FXMAG.COM Recent Research Reports     Overview of Decentralised Derivatives: Crypto derivatives dominate the market today, representing about 70% of the entire crypto market. In this report, we shed light on derivatives in DeFi, their market overview, and some innovations in the space. Alpha Navigator: Quest for Alpha [February 2023]: Asset classes took a breather in February and sold off, although crypto bucked the trend. BTC and ETH options implied volatilities remain at subdued levels. Research Roundup Newsletter [January 2023]: In our latest issue, we feature market insights and our research on artificial intelligence trends, the rise of AI-generated content, and their applications in blockchain and Web3. Catalyst Calendar         Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Source: Crypto Market Pulse (06/03/2023)
Coinbase, Microstrategy, Block and cryptocurrencies rose despite market uncertainty

Vitalik Buterin (Ethereum) sells his meme crypto assets, digital yuan integrated into WePay

Alex Kuptsikevich Alex Kuptsikevich 08.03.2023 10:12
Bitcoin fell on Tuesday amid falling equity indices and a rising US dollar. BTC updated three-week lows below $22K, losing 2% in the past 24 hours. Risky assets fell sharply amid a hawkish speech from Fed chief Jerome Powell, after which markets began to price in the chances of a 50-basis point rate hike later this month. BTCUSD re-entered the area of the February lows. However, the dynamics in the FX market were much more capitulatory than in cryptocurrencies, where intraday moves continue to mark buying on dips. Touching levels just below $22K took the price back to the 61.8% Fibonacci retracement of the December-February rally. Consolidation below $21.5K would be a strong signal to move lower. However, more buying is likely at the end of the medium-term correction in such situations, and the bulls will only celebrate victory once the price returns above $22.5K. El Salvador's president, Nayib Buquele, said the legalisation of bitcoin had boosted the country's tourism sector by 95%, improving the economy as a whole. According to CoinGecko, Tether's (USDT) share of the stackable coin market has surpassed 54% for the first time since November 2021, when the cryptocurrency market hit all-time highs. El Salvador's president, Nayib Buquele, said the legalisation of bitcoin had boosted the country's tourism sector by 95%, improving the economy as a whole. Read next: Turkey: For now, inflation could be said to have dropped because of the high base in 2022| FXMAG.COM Ethereum co-founder Vitalik Buterin began selling his meme crypto assets MOPS, CULT and SHIK. The sale of tokens severely affected their value, and investors suffered losses. WeChat, China's largest social network, integrated digital yuan into its payment platform WeChat Pay.
US President proposes 30% tax on electricity costs for US crypto miners

US President proposes 30% tax on electricity costs for US crypto miners

Kucoin Blog Kucoin Blog 15.03.2023 15:47
The last week was brutal for crypto bulls as contagion from the Silvergate saga, Signature, and Silicon Valley Bank spread across the cryptocurrency market. The first two are the most crypto-friendly banks, while SVB was a haven for venture capitalist funds and startup money. Bitcoin, the crypto market leader, dropped to $19,571 as stablecoins with failed bank exposure depegged. However, things got back to normalcy as Bitcoin regained its $20,000 support, and Ethereum returned to $1,500 in the early hours of Saturday. These seemed to be the only "back to normal" as investors are still wary of less-known names. Bitcoin Net Transfer Volume | Source: Glassnode This weekend also saw the second most amount of Bitcoin withdrawn from exchanges this year at roughly 15,000 BTC. The perpetual funding rate is extremely negative, indicating that Bitcoin is being shorted aggressively by record amounts since the FTX collapse. Bitcoin Futures Perpetual Funding Rate \ Source: Glassnode Bitcoin’s ordinal inscriptions also briefly hit 400,000 daily inscriptions for the first time in the cryptocurrency’s history. This happened after the community found out that you could mint both NFT-like tokens, as well as fungible tokens, on the Bitcoin blockchain. Bitcoin’s ordinal inscription \ Source: Dune Analytics The total cryptocurrency market capitalization dipped below $920 billion for the first time since November, and between Friday and Sunday, more than $200 million worth of cryptocurrency-tracked futures were liquidated. Bitcoin futures worth nearly $60 million were liquidated, followed by ether futures worth $40 million. The algorithmic stablecoin, DAI, depegged to $0.88, Tron’s USDD lost about 7%, and only Tether was left out of the bedlam of the stablecoin market. Tether’s exclusion was visible, as USDC/USDT featured among the most traded pairs on KuCoin in the previous week. Top Altcoin Gainers and Losers Top Altcoin Gainers Kava (KAVA) ➠ +14.93% Pax Gold (PAXG) ➠ +5.07% Top Altcoin Losers Singularity NET (AGIX) ➠ -33.42% Synthetic (SNX) ➠ -31.55% Dash (DASH) ➠ -31.10% Fear and Greed Index at 33, Market Gets Very Bearish Following Silvergate’s folding, USDC’s depegging, and news of the many crypto companies involved, the crypto market turned bearish. This week also, President Biden proposed a 30% tax on crypto mining, something the market did not take very lightly.   Fear & Greed Index | Source: Alternative This Week’s Crypto News Highlights Major Crypto-Friendly US Banks Shuts Down US banks experienced a bank run this past week. Silvergate, SVB, and Signature banks are the three banks to feel the heat of the Fed’s tightening policies. Silvergate Capital Corporation, the parent company of the crypto-fiat gateway network for financial institutions, Silvergate, first announced plans to "voluntarily liquidate" assets and shut down operations. Days later, Silicon Valley Bank, announced it was closing operations. One effect of this decision was an extraordinary depegging event of the USD Coin stablecoin, issued by Circle, which had over $3.3 billion of its $40 billion reserves stuck in the troubled bank. It has also been reported that Silicon Valley Bank holds an estimated $5 billion in funds for prominent blockchain venture capital firms such as Andreessen Horowitz, Pantera Capital, and Paradigm. Both Silvergate and Silicon Valley Bank had huge run up from 2020, owing to the massive sprending spree during that period, but failure to back the deposits with government bonds which were incredibly cheap, at a 1% rate, proved costly. Read next: The year-to-date trend for green cryptos remains very bullish. ADA has propelled 32%, and DOT witnessed a 37% surge, just to name a few| FXMAG.COM The depegging event caused USDC to trade as low as $0.87 before slowly pegging to trade at $0.99 at the time of writing. There are reportedly many different paths to resolution in the works, and depositors are expected to receive all deposits today. Sam Bankman-Fried Is Smarter than Bail Conditions, Says Judge Former FTX founder Sam Bankman-Fried's proposed bail conditions were questioned by U.S. District Judge Lewis Kaplan, who suggested that Bankman-Fried could find ways to evade the proposed restrictions on electronic communication. Kaplan proposed that Bankman-Fried be limited to using a flip phone or other non-smartphone with either no internet capabilities or internet capabilities disabled. Bankman-Fried's lawyer, Christian Everdell, assured the court that he would work with prosecutors on a new proposal to address the judge's concerns. Bankman-Fried's fraud trial is scheduled for October 2, and three of his closest associates are providing assistance to prosecutors. Biden Proposes 30% Tax on Crypto Mining Electricity Usage. President Joe Biden's budget proposal includes a plan to impose a 30% tax on electricity costs for US crypto miners to "reduce mining activity." The tax would be phased in over three years, starting after Dec. 31, at a rate of 10% per year until it reaches the maximum 30% tax rate in the third year. Any firm using resources, whether owned or rented, will be subject to the excise tax, and crypto miners will also have reporting requirements on the amount and type of electricity used, as well as the value of that electricity. The Treasury Department claimed the energy consumption of crypto mining operations has negative environmental effects, increases prices for those sharing a grid with the operations, and creates uncertainty and risks for local utilities and communities. Vitalik Dumps $700K Worth of Tokens Ethereum co-founder, Vitalik Buterin, has sold almost $700,000 worth of tokens he had previously been airdropped in exchange for Ether. The tokens sold include 500 trillion SHIKOKU (SHIK), nearly 10 billion Cult DAO (CULT), and 50 billion Mops (MOPS). Due to the low liquidity of these tokens, their prices were heavily affected by Buterin's sales. SHIK saw the largest price drop, with an 86% decrease following the sale (Buterin's wallet previously held 50% of the circulating supply of SHIK). Vitalik’s crypto wallet | Source: Etherscan Some cryptocurrency community members expressed frustration at Buterin's decision to sell, while others suggested that it may have been motivated by tax implications. This is not the first time Buterin is selling crypto holdings in bulk, having sold Shiba Inu and Dogelon Mars in a similar fashion two years ago. Buterin had previously confirmed that he owned the wallet in a 2018 tweet following accusations of hoarding Ether with fellow Ethereum co-founder Joe Lubin. Bitcoin (BTC/USDT) Technical Analysis After probing the 19K area low, Bitcoin has pushed back to the previously-lost 20K area. According to several analysts, Bitcoin has a new resistance level of $22,800, and the new support level is $20,500. Breaking the $22,800 price will see Bitcoin strive for $23,400, and if the $22,800 mark is broken, the next stop is $16,000. The RSI is now sitting at 79, indicating an oversold level.   BTC/USDT Chart on the Hourly Timeframe | Source: KuCoin Did you know that KuCoin offers premium TradingView charts to all its clients? You can step up your Bitcoin technical analysis and easily identify various crypto chart patterns. Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to Our YouTube Channel>>>
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Ethereum Shanghai updgrade to be introduced on April 12. Edge may receive crypto and NFT integration

Crypto.com Accelerate the... Crypto.com Accelerate the... 20.03.2023 16:04
Crypto.com secures MVP license from Dubai virtual assets regulator. Ethereum sets April 12 as target date for Shanghai upgrade. Microsoft integrating crypto wallet into Edge browser. Weekly Market Index Last week’s crypto market prices were up significantly at +30.31%. Volume and volatility also increased significantly by +58.83% and +133.99%, respectively.      Weekly Performance Bitcoin (BTC) surged +25.6% and Ethereum (ETH) rose by +12.1% in the past seven days. Other selected top-cap tokens also mostly rallied.     News Highlights Crypto.com received its MVP Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). Once licensed to be operational, Crypto.com will be able to extend its approved suite of duly regulated virtual assets activities spanning a range of crypto exchange services (spot and derivatives), brokerage, margin/leverage trading, and OTC offerings around settlements for institutional investors.  The US Federal Reserve will raise interest rates by 25 basis points on March 22 despite recent banking sector turmoil, according to a strong majority of economists polled by Reuters. In other macro related news, UBS agreed to buy Credit Suisse for US$3.2 billion, with Swiss regulators playing a key part in the deal as governments looked to stem a contagion threatening the global banking system. Ethereum developers set a target date of 12 April for the Shanghai upgrade, which will enable staked ETH withdrawals. Microsoft is reportedly working on integrating a crypto and non-fungible token (NFT) friendly Web3 wallet into its Edge browser. Recent Research Reports     Research Roundup Newsletter [February 2023]: In our latest issue, we feature trending market insights and our analyses of the current state of decentralised derivatives market. Overview of Decentralised Derivatives: Crypto derivatives dominate the market today, representing about 70% of the entire crypto market. In this report, we shed light on derivatives in DeFi, their market overview, and some innovations in the space. Alpha Navigator: Quest for Alpha [February 2023]: Asset classes took a breather in February and sold off, although crypto bucked the trend. BTC and ETH options implied volatilities remain at subdued levels. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: Crypto Market Pulse (20/03/2023)
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

According to CryptoQuant founder, Bitcoin has entered the bull market phase

Alex Kuptsikevich Alex Kuptsikevich 21.03.2023 10:33
Bitcoin selling intensifies as it touches the $28K level. The leading cryptocurrency has lost 2.2% over the past 24 hours, but this is a minor pullback after a more than 40% gain since 10 March. This pause will allow Bitcoin to "cool down" and create opportunities for another leg up. Nevertheless, the risks of a deeper correction remain elevated, with the first significant line of defence likely to be the $26K (76.4% of the last rally) and the second at $25K (61.8% of the rally). Interestingly, Ethereum has had a less impressive flight and remains heavier, pulling back to $1730 (76.4% of the original rally). Above $1700 is also the area of previous local highs for the second-largest cryptocurrency. We should be prepared for increased market profit-taking before the Fed's decision. The central bank must choose between fighting inflation (negative for crypto) and supporting the banking system (positive for markets). According to CoinShares, investments in crypto funds fell by $95 million last week, marking the sixth consecutive week of outflows. Bitcoin investments decreased by $113 million and Ethereum by $13 million. Investment in funds that allow shorting of bitcoin increased by $35 million. Read next: Dow Jones and S&P 500 closed near the recent highs. Positive finish of the US markets has helped Asian markets| FXMAG.COM The US Federal Deposit Insurance Corporation (FDIC) has sold Signature Bank without its cryptocurrency division "Bitcoin is volatile but has never needed a bailout like banks. It has no CEO. No one can print coins out of thin air," said Changpeng Zhao, head of Binance. Bitcoin has entered the bull market phase, according to CryptoQuant founder Ki Yun-Ju, who cited optimistic signals from on-chain indicators. The US Federal Deposit Insurance Corporation (FDIC) has sold Signature Bank without its cryptocurrency division. As of 20 March, the 40 former Signature branches will be operated by Flagstar Bank.
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

According to Bluntz_Capital Ethereum alternatives may yield noticeably more in the short term

FXStreet News FXStreet News 23.03.2023 15:56
The crypto analyst who called the 2018 Bitcoin bottom is bullish on two altcoins that are poised for a breakout. Crypto market participants are hunting for the next 2x altcoin, after Bitcoin and Ethereum yielded massive gains over the past week. The expert argues that the ETH/BTC bottom is either in or extremely close, this is conducive to altcoin price rallies in the short term. A crypto analyst who rose to fame for timing the 2018 Bitcoin bottom accurately, @Bluntz_Capital believes Ethereum alternatives and rival altcoins could yield 2x gains in the short term. The expert’s top picks are Fantom (FTM) and Frax Share (FXS), and he has identified bullish potential in these altcoins. Crypto analyst identifies altcoins primed to offer 2x gains A crypto expert who gained popularity after predicting the 2018 Bitcoin bottom that the asset formed prior to its 2019 bull run. In the year 2018 when financial institutions like the US Federal Reserve were easing interest rates, Bitcoin price broke out higher after a bottom formation. The 2018 Bitcoin bottom was therefore key to traders who booked profits in the asset’s 2019 bull run. Bluntz_Capital, a crypto expert and analyst recently noted that ETH/BTC bottom is either in or extremely close and informed his 221.9K followers that Ethereum is in the “buy zone” now. In a 2022 tweet, the expert argued that if ETH/BTC ratio gets to 0.062 in Q1 2023, it affirms that the altcoin is in the buy zone. Typically, when an ETH/BTC ratio gets close to the bottom, there is a subsequent rally in altcoins, as seen in previous market cycles. This supports Bluntz_Capital’s bullish thesis for altcoins. Read next: Ford Motor Company will lose a lot of money on electric vehicles, but there's a positive news as well | FXMAG.COM Bluntz_Capital shared his optimism on Ethereum and his two altcoin gems with bullish potential. The analyst believes that Fantom (FTM) and Frax Share (FXS) are the two altcoins that are most likely to witness a bullish breakout in the short-term. Why FTM and FXS? The technical expert uses Elliott Wave (EW) analysis to identify altcoins that have bullish potential. According to EW, a trending market moves in a five-three wave pattern, the first five waves are in the direction of the larger trend. After completion of five waves in one direction, a larger corrective move is expected in three consecutive waves. The second set of waves (corrective ones) are represented using letters and the first five using numbers. Basic Elliott Wave Pattern The analyst applied EW to FXS where five waves rose from the lows and three moved back down to the 61.8% Fibonacci Retracement level. Bluntz_Capital expects a trend continuation in FXS, upwards of 40% gains in the altcoin. FXS/ USDT price chart In the case of FTM, the expert recommends a long position in altcoin after noting a 17% dip, as seen in the price chart below. FTM/USDT price chart FTM completed its Elliot Wave pattern and the expert predicts a rally in the Ethereum rival in the short-term.
ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

The crypto market is temporarily more attractive than stocks

Alex Kuptsikevich Alex Kuptsikevich 24.03.2023 15:36
Cryptocurrency market capitalisation rose 2.2% over the past 24 hours to $1.183 trillion, returning to Wednesday's highs. Cryptocurrencies came under selling pressure after the stock market at the close of the US session on Thursday but found much more support on that local dip. Bitcoin failed to rewrite the previous day's local highs on Thursday but found support from increasingly higher levels during the day, which looks like a short-term bullish signal. Despite entering the oversold territory on the daily chart's RSI, Bitcoin still has a good chance of testing the $30K level before a medium-term correction to $25K. Ethereum has shown more modest momentum recently and renewed local highs yesterday before retreating to $1800. A promising bounce from the 200-week average and a consolidation above the 50-week average has been formed on the weekly timeframe. This week's momentum confirms the return of active bulls and sets up a test of $2000 in the coming weeks. Ethereum can maintain its leadership position in the blockchain if its developers increase ETH's bandwidth Top crypto industry executives interviewed by CNBC remain bullish on the first cryptocurrency. Tether CTO Paolo Ardoino believes bitcoin could retest its previous record high of $69K. Gemini cryptocurrencies exchange strategic director Marshall Beard believes BTC could hit $100K this year. The US Securities and Exchange Commission (SEC) has sued Tron project founder Justin Sun and three of his companies for "unregistered sales of securities in the form of cryptocurrencies" Tron (TRX) and BitTorrent (BTT). The regulator also believes that Sun manipulated the secondary market for TRX through "laundered trading". US cryptocurrency exchange Coinbase has received a notice of investigation from the SEC regarding the listing process on the platform and its products - Coinbase Prime, Coinbase Wallet and the Coinbase Earn stacking service. The exchange has time to respond. Ethereum can maintain its leadership position in the blockchain if its developers increase ETH's bandwidth. Otherwise, network use will decline significantly in the coming years, according to a report by Bank of America.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Bank of England is reportedly closer to developing a central bank digital currency

Crypto.com Accelerate the... Crypto.com Accelerate the... 12.04.2023 10:48
BTC moves past $30K level. Swiss financial institution PostFinance to offer crypto access. Chinese insurer CPIC launches crypto funds in Hong Kong. Weekly Market Index Last week’s crypto market prices were flat at +0.10%. Volume and volatility dropped by -12.65% and -61.64%, respectively.      Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were up +7.6% and +5.9% in the past seven days, respectively. Price performances of other selected top-cap tokens were mixed.     News Highlights Bitcoin moved past the US$30,000 level for the first time since June 2022 as the market looks past March’s banking turbulence and investors become more optimistic about US central bank monetary policy. China Pacific Insurance Company, a leading Chinese insurer, launches two crypto investment funds in Hong Kong through its subsidiary in collaboration with Waterdrip Capital. The funds are a venture capital fund and a Proof-of-Stake token income enhancement fund. PostFinance, Switzerland’s fifth-largest financial services firm, will start offering its users access to cryptocurrency, through a partnership with digital asset services provider Sygnum Bank. The Bank of England is reportedly targeting to set up a team of 30 people to develop a central bank digital currency. Read next: Today's FOMC minutes may help us to judge how seriously was the pause discussed| FXMAG.COM Recent Research Reports     Monthly Research Roundup (March 2023): In this issue, we feature trending market insights, our latest Crypto.com Visa Card Consumer Spending Insights for 2022, and our research reports on liquid staking derivatives. Liquid Staking Derivatives: Money Legos in DeFi: Liquid staking is now the second largest sector in crypto after DEXes, replacing DeFi lending. Today the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape. Alpha Navigator: Quest for Alpha [March 2023]: Bitcoin shines amid banking sector turmoil. Market expects a pause in rate hikes, potentially setting up new tailwind for risk assets. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: Crypto Market Pulse (11/04/2023)
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Ava Labs (Avalanche) released Evergreen subnets. Sushi suffered a $3.3M exploit

Crypto.com Accelerate the... Crypto.com Accelerate the... 12.04.2023 10:54
Solana on-chain staking is now supported on Crypto.com. Tether blacklists validator address that drained US$25M from MEV bots. Ava Labs launches Evergreen subnets. Weekly DeFi Index This week’s market cap, volume, and volatility indices were negative at -0.32%, -22.93%, and -45.22%, respectively.     Check the latest prices on Crypto.com/Price             News Highlights Solana on-chain staking is now supported by the Crypto.com Exchange, and SOL token holders can earn staking rewards of up to 5% APR. Head over to Crypto.com for more details. Ethereum’s Shapella upgrade is expected to go live on 12 April and for the first time, users will be able to withdraw their locked ETH from the Beacon chain.  USDT stablecoin issuer Tether blacklisted ‘Sandwich the Ripper’, an Ethereum validator address linked to an MEV bot exploit that drained about US$25 million worth of digital assets. Tether has now frozen 3 million USDT from the exploit. However, the crypto community has expressed concerns regarding the move by Tether.  Avalanche developer Ava Labs released Evergreen subnets, a suite of tooling and customisations aiming to help institutions improve control and communication on the blockchain. A smart contract on DeFi protocol Sushi suffered a $3.3 million exploit over the weekend. The exploit involved Sushi’s ‘RouterProcessor2’ contract used to route trades on the SushiSwap exchange, and developers urged users to revoke the contracts. The protocol confirmed it has recovered 100 ETH (~$186,000) to date. zkSync aided Gemholic, the team behind the decentralised exchange GemSwap, in identifying a solution to retrieve 921 ETH (~$1.7 million) raised in a token sale. This was after a bug in Gemholic’s smart contract resulted in the team losing access to the funds. Read next: Bank of England is reportedly closer to developing a central bank digital currency| FXMAG.COM Recent Research Reports     Liquid Staking Derivatives: Money Legos in DeFi: Today, the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape. Crypto.com Visa Card Consumer Spending Insights 2022: A full breakdown of what our community across the globe liked to spend their crypto on in 2022. Alpha Navigator: Quest for Alpha [March 2023]: Bitcoin shines amid banking sector turmoil. The market expects a pause in rate hikes, potentially setting up new tailwinds for risk assets. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 Weekly (12/04/2023) (crypto.com)
Ethereum price rally to $2,000 is fueled by these catalysts and macro moves

Ethereum price rally to $2,000 is fueled by these catalysts and macro moves

FXStreet News FXStreet News 13.04.2023 16:31
Ethereum price crossed key resistance at $2,000 in an explosive move, with the crypto market cap inched closer to $1.3 trillion. Experts argue Thursday’s Producer Price Index indicates that market participants are headed towards disinflation, fueling a bullish sentiment among risk asset holders. Twitter’s partnership with eToro is another driving factor for Ethereum’s run up to the $2,000 level. Ethereum price crossed key resistance at the $2,000 level after the crypto market capitalization started climbing to the $1.3 trillion level. Experts predict an Ethereum price rally to the range between $2,400 and $2,800. Also read: Ethereum Shapella upgrade is successful, debate ensues on whether ETH is a security Ethereum price climbed above $2,000 post a successful Shapella upgrade Ethereum price rallied to the $2,000 level in an explosive move post the successful completion of the Shapella upgrade. The altcoin climbed above the resistance level despite the rising selling pressure from the ETH tokens that are being unlocked. ETH/USD 4H price chart Upwards of $32 million worth of ETH tokens were unlocked, however ETH holders signaled their confidence in the altcoin, despite the mounting selling pressure on the second-largest asset by market capitalization. These three catalysts are driving Ethereum price higher The rise in crypto market capitalization, US PPI data and Twitter’s partnership with eToro for implementing crypto trading for users are the key catalysts that fueled Ethereum’s run up to the $2,000 level. Read next: Canadian dollar: Next week, all eyes will be on the inflation data, which is expected to cool down further to as low as four percent| FXMAG.COM Crypto market capitalization is inching closer to $1.3 trillion after Bitcoin’s massive rally to the psychological barrier at $30,000. The rising market cap of digital assets is a sign of rising confidence among crypto traders for cryptocurrencies like Ethereum. Interestingly, the release of US Consumer Price Index for March 2023 and PPI print on Thursday, shows that traders expect disinflation. This is a bullish sign for risk assets like Ethereum. With social media giant Twitter enabling crypto trading through its partnership with eToro, traders gained confidence in cryptocurrencies and alternative cryptos like Ethereum. The anticipation surrounding the ETH upgrade was dispelled by a smooth completion of the Shanghai hard fork. Where is Ethereum headed next Bluntz_Capital, a crypto analyst and trader, predicted a rally in Ethereum price. Experts believe ETH is on track to rally to the zone between $2,400 and $2,800 level. Ethereum price could climb to the $2,400 level for lack of a critical resistance between $2,000 and $2,400. ETH/USD 1D price chart Once Ethereum price clears the resistances at $2,400 and $2,800, the next target for the altcoin is the $4,000 level.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Ethereum: Shanghai update completed successfully. US inflation rose 5%

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.04.2023 15:27
US inflation pace decelerating. London Stock Exchange Group unit to clear BTC futures and options. Ethereum completes Shanghai upgrade. Weekly Market Index Last week’s crypto market prices were up +10.10%. Volume and volatility also increased by +20.76% and +72.69%, respectively.      Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were up +5.6% and +12.5% in the past seven days, respectively. Other selected top-cap tokens also mostly rose. Read next: InstaForex analyst: Bitcoin is approaching the completion of the local stage of the upward movement, which will be followed by a corrective movement| FXMAG.COM     News Highlights Ethereum successfully completed its Shanghai upgrade, which introduces an important new feature that allows validators who previously staked ETH to withdraw those tokens for the first time. The US consumer price index rose 5% YoY in March, below market expectations. The data showed that while inflation is still well above the Federal Reserve’s policy target of 2%, it is showing continuing signs of decelerating. LCH, the clearinghouse arm of the London Stock Exchange Group, will offer clearing services for cash-settled Bitcoin index futures and options.  Hong Kong’s biggest virtual bank, ZA Bank (ZA), will offer crypto-to-fiat currency conversions over licensed exchanges. ZA will act as a settlement bank for clients to allow withdrawals in Hong Kong, China and US currencies after they deposit crypto tokens with exchanges. The US House Financial Services Committee published a draft version of a potential landmark stablecoin bill, with proposals including a moratorium on stablecoins backed by other cryptocurrencies and a request to study a central bank digital currency (CBDC). Recent Research Reports     Monthly Research Roundup (March 2023): In this issue, we feature trending market insights, our latest Crypto.com Visa Card Consumer Spending Insights for 2022, and our research reports on liquid staking derivatives. Liquid Staking Derivatives: Money Legos in DeFi: Liquid staking is now the second largest sector in crypto after DEXes, replacing DeFi lending. Today the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape. Alpha Navigator: Quest for Alpha [March 2023]: Bitcoin shines amid banking sector turmoil. Market expects a pause in rate hikes, potentially setting up new tailwind for risk assets. Catalyst Calendar                 Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: Crypto Market Pulse (17/04/2023)
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Ethereum completed the Shapella upgrade. How many ETH have been withdrawn since Sunday?

Crypto.com Accelerate the... Crypto.com Accelerate the... 20.04.2023 15:00
Ethereum’s Shapella upgrade goes live. Uniswap community approves proposal to launch on Polygon’s zkEVM. Arbitrum proposal to return 700M ARB tokens fails. Weekly DeFi Index This week’s market cap, volume, and volatility indices were positive at +8.62%, +44.96%, and +46.89%, respectively.                 News Highlights Ethereum successfully completed the Shapella upgrade on 12 April, and validators can now withdraw their staked ETH. Over 1 million ETH have been withdrawn since Sunday, with some token holders opting to restake their ETH withdrawn since the upgrade.  The Uniswap DAO approved the proposal to launch v3 on Polygon zkEVM after a unanimous governance vote. This move will allow users to access the decentralised exchange from Polygon’s newly released zkEVM Layer 2 network.  Arbitrum Improvement Proposal (AIP) 1.05, which aims to return 700 million ARB governance tokens to Arbitrum’s DAO Treasury, has failed to secure approval by an overwhelming majority.   A recent vulnerability that affects Ethermint and the Cosmos ecosystem was discovered by crypto trading firm Jump Crypto, which could have resulted in an eight-figure exploit. The Evmos core development team confirmed that it blocked the vulnerability before it could cause any impact to networks. An older version of the DeFi protocol Yearn Finance was exploited for US$11.6 million in a flash loan attack on 13 April, due to a vulnerability in Yearn’s USDT token yUSDT.  DeFi protocol Kyber Network discovered a vulnerability in KyberSwap Elastic, and asked its liquidity providers to withdraw their funds immediately. Only KyberSwaP Elastic funds were reported to be affected, and so far no funds have been lost.  Consensys confirmed that an unnamed third-party service provider was a victim in a cyber security incident, which resulted in an unauthorised third party gaining access to 7,000 MetaMask users’ data. Read next: Earnings season: Tesla stock price slipped after yesterday's news. The best selling car in Q1 was Model Y| FXMAG.COM Recent Research Reports     Liquid Staking Derivatives: Money Legos in DeFi: Today, the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape. Crypto.com Visa Card Consumer Spending Insights 2022: A full breakdown of what our community across the globe liked to spend their crypto on in 2022. Alpha Navigator: Quest for Alpha [March 2023]: Bitcoin shines amid banking sector turmoil. The market expects a pause in rate hikes, potentially setting up new tailwinds for risk assets. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 Weekly (19/04/2023) (crypto.com)
Bitcoin to US dollar - technical analysis by Petar Jacimovic on April 21st

The total capitalisation of the crypto market fell 8.6% last week to $1.16 trillion, according to CoinMarketCap, returning to consolidation levels in early April

Alex Kuptsikevich Alex Kuptsikevich 24.04.2023 13:27
Bitcoin has fallen 8.2% in the last seven days to $27.4K but is consolidating near levels from the second half of March. The market has erased its previous growth momentum and is now testing the strength of the medium-term uptrend in the form of the 50-day moving average (now at $27K). A break below this would call into question the bull market's strength, while a consolidation below $26.6K could be the prologue to a more profound decline. Ethereum lost 11.7% to $1850, also approaching a test of its 50-day at $1800, while other leading altcoins in the top 10 fell between 5.7% (BNB) and 16.2% (Solana). Technically, the pullback in cryptocurrencies has cleared the accumulated overbought conditions, which is good for potential buyers. However, short-term traders would be wise to keep an eye on the near term as the risk of a sharp decline has increased. According to ultrasound.money, the Ethereum market supply has dropped by more than 100,000 ETH since The Merge update The US Congress is aiming for a bipartisan cryptocurrency bill. According to The Block, a bill could be drafted by the end of May. According to ultrasound.money, the Ethereum market supply has dropped by more than 100,000 ETH since The Merge update. The deflation on the network after the move to PoS was 0.15% on a year-over-year basis. Metropolitan Commercial Bank, one of the top 10 most efficient banks in the US in 2022, has notified the SEC of its withdrawal from cryptocurrency-related business due to the recent collapse of Silvergate Bank, Silicon Valley Bank and Signature Bank and regulatory pressure. The Canadian Teachers' Pension Fund of Ontario (OTPP) withdrew from cryptocurrency investments after investing $95 million in the bankrupt FTX crypto exchange. Wallet developers have added the ability to buy Bitcoin via the Telegram messenger's web interface. Previously, the feature was only available through a text bot in the messenger.
Bitcoin amid recent banking sector situation: simply put, it is no longer a question of yield but safety

According to WEF, Bitcoin mining could significantly reduce gas emissions. Is crypto winter over? Standard Chartered says...

Alex Kuptsikevich Alex Kuptsikevich 25.04.2023 15:27
 The cryptocurrency market is down 0.6% over the past 24 hours, falling to $1.15 trillion, as we see reduced volatility and attempts to "buy the bottom".  Bitcoin is testing and attempting to hold above its 50-day moving average on Monday and Tuesday.  As it does so, we, for now, see some reduced volatility and attempts to form a local bottom. It could be an attempt to return to buying after a corrective pullback or a consolidation before a new downward impulse.  Regarding technical analysis, bitcoin's correction will only become a new downtrend when the price consolidates below $26.5K, 61.8% of the upside momentum from the March lows and the bottom of last month's consolidation.  According to CoinShares, investments in crypto funds fell by $30 million last week after four weeks of gains. Bitcoin investments decreased by $53 million, while Ethereum rose by $17 million.  Crypto winter is over, says Standard Chartered Significant inflows into Ethereum assets indicate growing investor confidence following the successful implementation of the Shapella update.  Crypto winter is over, says Standard Chartered. Bitcoin will benefit from the turmoil in the banking sector and several other factors. By the end of 2024, the price of the first cryptocurrency could reach $100K.  Twitter analyst PlanB, the creator of the Stock-to-Flow model, expects Bitcoin to grow significantly in 2024 after halving. He calculates that BTC will break through $100,000 and could eventually reach $542,000.  In the medium term, BTC could become the world's reserve currency, according to BitMEX co-founder Arthur Hayes. More and more investors are looking to Bitcoin to preserve capital.  The World Economic Forum (WEF) said Bitcoin mining could significantly reduce greenhouse gas emissions. But only if miners switch to renewable energy sources.  Billy Marcus, the creator of the meme cryptocurrency Dogecoin, called crypto investors "mentally disturbed" and NFT buyers "even more unhealthy". He said he stopped investing in cryptocurrencies nine years ago, shortly after Dogecoin was launched.
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Bitcoin’s short-term triangle

Alex Kuptsikevich Alex Kuptsikevich 28.04.2023 10:42
Crypto market capitalisation is up 0.85% in the last 24 hours to 1.21 trillion, in the middle of its range over the previous two weeks. The Crypto Fear and Greed Index rose 5 points to 64, establishing itself in greed territory and showing that sentiment is recovering faster than capitalisation. Bitcoin attempted to approach $30,000 again on Thursday but hit lower highs than on Wednesday, although it didn’t pull back as hard. Notably, the Nasdaq high tech index was up an impressive 2.75%. Bitcoin continues to form triangles in the short term and has a reasonably clear support line. At the same time, an impressive supply of sellers is preventing the price from fixing above the psychologically important $30K price. Kaiko points to the increasing correlation between BTC and gold. The cryptocurrency’s dependence on the precious metal has grown since early March. The banking crisis and the risks of financial turmoil are scaring investors around the world and causing them to buy up safe-haven assets. According to CryptoQuant, bitcoin’s leverage ratio has reached an all-time low of 0.195. This reduces the volatility of the spot VC market, which is becoming less sensitive to futures market activity. Investment in bitcoin startups has outpaced the rest of the crypto industry in terms of investment in 2022 Ethereum options volume and open interest on the CME hit all-time highs following the successful Shapella hardfork. The Hong Kong Securities and Futures Commission (SFC) said it is preparing rules for licensing crypto exchanges and will introduce them next month. Turning Hong Kong into a crypto hub could provide liquidity for cryptocurrency growth and become a new rally driver, according to Blockfin Academy. Investment in bitcoin startups has outpaced the rest of the crypto industry in terms of investment in 2022, according to a report by Trammell Venture Partners (TVP). However, the first cryptocurrency has yet to be widely accepted. The Google Cloud platform has partnered with the Polygon project to accelerate the adoption of “key Polygon protocols” in enterprise infrastructure and tools and “increase bandwidth” in gaming, supply chain and DeFi.
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

Bitcoin and Ether flirt with 50-day MA

Alex Kuptsikevich Alex Kuptsikevich 05.05.2023 09:31
The cryptocurrency market capitalisation is marginally lower by 0.1% compared to 24 hours ago, recovering from a 2% drop at the end of the previous day. The Cryptocurrency Fear and Greed Index dropped 3 points overnight to 61 but remained at the Geed territory. Most of the top ten cryptocurrencies are losing ground over the last day, while Bitcoin and XRP are slightly gaining. Bitcoin has risen 0.3% in the last 24 hours and more than 1% since the start of the day. In the early hours of this morning, the price slipped close to $29.5K, the highest level since the end of April. The first cryptocurrency overcame a sharp decline on May 1st and is now testing downside resistance through last month's local highs. A consolidation above this level would be a significant signal for buyers and could trigger a growth surge. Ethereum’s upward-sloping 50-day moving average regularly supports local dips, as in Bitcoin. The 61.8% Fibonacci retracement of the March-April momentum was also a nominal support line. This is also where the former resistance area from March is located, which now becomes support. The average commission per Ethereum transaction has reached the highest level since May 2022, above $15. This situation is mainly due to the rally around meme tokens such as PEPE. The problem is similar for Bitcoin; the average transaction fee has exceeded $7 due to the hype around the Ordinals. Cardano creator Charles Hoskinson warned that the collapse of American banks this year could repeat the 2008 financial crisis Cardano creator Charles Hoskinson warned that the collapse of American banks this year could repeat the 2008 financial crisis. However, cryptocurrencies are showing resilience in a challenging macroeconomic environment. Michael van de Poppe, founder of trading platform Eight, urged market participants to "take money out of banks" and invest in hard assets such as gold, silver, bitcoin, and other cryptocurrencies. He said preparing for "a decade of cryptocurrencies and commodities" was necessary. The collapse of FTX Group in November led to a shift in the share and influence of crypto exchanges in the digital asset market. According to Coingecko's research, Binance's market share has reached 62%, followed by Upbit (7%) and OKX (6.4%). The rest of the top 10 hold less than 6% of the global market. Coinbase will stop lending against Bitcoin amid a crackdown by US authorities.
ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

ByBit Analysis ByBit Analysis 11.05.2023 17:10
Daily Top Performer — Aragon (ANT) U.S. equities reacted positively to April’s inflation data and rises 0.46% as inflation cools. The broader cryptocurrency market declined despite an initial spike from positive inflation data, with Bitcoin and Ether dropping 0.21% and 0.44%, respectively, in the past 24 hours. Today's outperformer is ANT, which surged 14% in the past 24 hours due to ANT’s Cofounder proposing token buybacks.  Launched in 2016, Aragon (ANT) is a platform for creating and managing Decentralized Autonomous Organizations (DAOs) by providing simple, scalable, customizable, and plug-and-play solutions for business functions like payment and governance systems. Read next: Altcoins: SushiSwap has launched concentrated liquidity pools| FXMAG.COM ANT surged after co-founder Luis Cuende proposed a $30 million token buyback to address their ongoing governance crisis. The proposal includes transferring Aragon's $200 million treasury to the Aragon DAO over five years. This move eased tensions between the Aragon Association and activist crypto traders, known as the RFV Raiders. It also further proved that on-chain governance does work, as the RFV raiders were the majority owners of the ANT token and thus its treasury. As the blockchain economy grows, there will be more governing needed, and a utility protocol like ANT helps promote interactions among DAOs. Check Out the Latest Prices, Charts, and Data of ANTUSDT! Talk of the Town Ethereum validators earned a record $46 million in staking rewards in the first week of May, with the staking rewards rate reaching 8.6% post-Merge. This surge in rewards is attributed to the trading frenzy of a new memecoin, Pepe (PEPE), which caused average fees on the Ethereum network to rise significantly. As a result, validators received higher income from processing transactions and regular rewards. Ethereum's transition to a proof-of-stake consensus mechanism in 2022 and the Shapella upgrade have increased interest in ETH staking, particularly from institutions.
Coinbase, Microstrategy, Block and cryptocurrencies rose despite market uncertainty

Crypto assets as a hedge against inflation? According to S&P Global it's not impossible!

Alex Kuptsikevich Alex Kuptsikevich 12.05.2023 10:38
The crypto market lost 3.2% over the past day, dragged down by the institutions' favourite instruments: Bitcoin (-4.5%) and Ether (-4.3%). Other top altcoins range from -4% (Polygon) to 0% (XRP). The Cryptocurrency Fear and Greed Index fell to 49 (neutral), its lowest level in two months. Bitcoin is trading at $26.3K, its lowest level since March 17, losing over 15% from its peak last month. The local technical pattern offers little reason for optimism. Bitcoin fell well below its 50-day moving average at the beginning of the week. By the end of Thursday, it was below $27.5K, the support line for the last two months. Friday's early morning drop took BTCUSD below the 61.8% Fibonacci correction level from the rally off the March lows. In other words, we see more than just a correction of this latest growth impulse. Bitcoin's return to $25K looks like a real prospect in the coming days. The bears will have their work cut out for them here, as some oversold conditions will have built up by then. The $25K level is also significant that Bitcoin did not breach between the middle of last year and the middle of March. Now it has every chance of becoming an equally reliable support. Crypto assets could become a hedge against inflation Crypto assets could become a hedge against inflation, according to rating agency S&P Global. However, the history of the crypto market needs to be longer to prove this hypothesis. The New York State legislature has begun considering a bill allowing dollar-pegged stablecoins to be used as a legal means of paying bail for defendants. Former SEC official John Reed Stark has called on US financial regulators to ban crypto-related companies from offering Tether (USDT) stablecoins. According to him, the issuer of the USDT stablecoin could be the next domino to fall. Read next: The fall in crude prices and the removal of almost all travel restrictions can support passenger traffic and bring it back to pre-pandemic levels | FXMAG.COM According to documents filed with the SEC, Franklin Templeton, which manages assets worth more than $1.4 trillion, plans to launch a second blockchain fund. The minimum investment in the fund will be $100K. Circle, the issuer of the USDC stablecoin, has renounced US Treasury securities maturing after May 31 in case of a US default on government debt. Elon Musk released a meme featuring NFTs from the Milady collection, which resulted in a 2600% increase in sales of anime tokens and hundreds of times price increase of the Milady Meme Coin.
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

According to Lookonchain, crypto whales could soon start selling Bitcoin

Alex Kuptsikevich Alex Kuptsikevich 22.05.2023 10:20
Cryptocurrency market capitalisation fell 2% over the week to $1.12 trillion, mostly fluctuating between $1.11 trillion and $1.14 trillion. The market is in no hurry to pick a trend, bringing the cap back into its chosen range and moving on to news of the US debt ceiling and the Fed's next move. Bitcoin is back below $27K this new week, finding support from buyers on dips to the 200-week moving average, which is a notable indication the market still believes in the return of a long-term uptrend in Bitcoin. It is also a bullish signal for the cryptocurrency sector. On the other hand, if Bitcoin fails to push back from this support soon, it will be an excuse for the bears to increase the pressure. Ethereum has been treading water for around $1810 all last week, clearly waiting for an outside signal. Other top ten altcoins showed mixed dynamics, ranging from a 4.6% drop (Solana) to an 8.5% rise (XRP). A 30% tax on cryptocurrency mining proposed by US President Joe Biden would force the industry offshore Crypto whales could soon start selling Bitcoin, according to Lookonchain. Experts have highlighted the transfer of 1,750 BTC to the Binance exchange. The pressure will mount if other holders follow suit. Robert Kennedy Jr, US presidential candidate who has consistently supported digital assets, called Bitcoin "an exercise in democracy". The politician has pledged to protect the rights of Bitcoin owners and miners if he is elected the next US president. Heisenberg Capital founder Max Keiser agreed with SEC chief Gary Gensler that all crypto assets other than bitcoin should be considered securities. He cited the example of El Salvador, where BTC has been legalised, and this adoption model could become the standard. Read next: What's going to happen with stocks and crypto if US defaults? Mike McGlone speaks his mind | FXMAG.COM MicroStrategy founder Michael Saylor said the company wants to use the Ordinals protocol to build applications. He believes that Bitcoin NFT technology has the potential to drive innovation in the digital asset market. A 30% tax on cryptocurrency mining proposed by US President Joe Biden would force the industry offshore, said Marathon Digital CEO Fred Thiel.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Crypto.com Accelerate the... Crypto.com Accelerate the... 22.05.2023 14:37
Trading volume of meme coins surges. Visa experiments with smart contracts on Ethereum Goerli testnet. Tether plans to use profits to buy BTC for stablecoin reserves. Chart of the Week Meme coins have been one of the dominating narratives in the last two months, reflected in the surge in trading volume – up 779% compared to in January.     Weekly Market Index Last week’s crypto market prices were flat at -0.95%. Volume and volatility dropped by -25.68% and -57.16%, respectively.     Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were both flat at -0.6% and +0.4%,respectively,in the past seven days. Other selected top-cap tokens mostly showed slight decreases.     Artificial Intelligence was the best performing category in the past seven days.     News Highlights Visa is experimenting on Ethereum’s Goerli testnet with smart contracts aimed at transaction-free payments with the help of account abstraction. The aim of these contracts is to simplify user interaction with the Ethereum network by eliminating the need for end-users to hold ETH, for “gas” fees or letting users pay with any token. Tether said it will allocate up to about 15% of realized profits to purchase bitcoin (BTC) for its stablecoin reserves. The company also reported US$1.48 billion in net profit for Q1 2023 and US$1.5 billion in BTC holdings. The Hong Kong Monetary Authority (HKMA) began the pilot programme for its central bank digital currency (CBDC), called the e-HKD. The programme will explore potential use cases in six categories, including full-fledged payments, programmable payments, offline payments, tokenised deposits, settlement of Web3 transactions and settlement of tokenised assets. Read next: Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection| FXMAG.COM Recent Research Reports                 Monthly Research Roundup (April 2023): In this issue, we feature trending market insights, and our latest research reports take a closer look into Bitcoin’s expanding ecosystem, specifically Layer 2s, DeFi, and NFTs. Alpha Navigator: Quest for Alpha [April 2023]: Asset classes were generally flat in April, with cryptocurrency outperforming other assets. The US Federal Reserve could be on the cusp of ending its interest rate hike cycle. Bitcoin’s Expanding Ecosystem: Layer-2, DeFi, NFT: The landscape of the latest projects building on top of Bitcoin is expanding beyond payments. It now includes Layer-2 scaling solutions and key application categories like DeFi and NFTs. Recent University Articles                 What Is the BRC-20 Token Standard for Bitcoin?: Learn about the BRC-20 token standard for the Bitcoin blockchain and the tokens that have been minted on it so far. What Are ERC-20 Tokens? All About Ethereum’s Most Important Token Standard]: ERC-20 is a token standard for fungible tokens on Ethereum. Learn what it is and how cryptocurrencies can be minted with it. Ethereum vs Ethereum Classic — What Is the Difference?: They may share the name, but Ethereum and Ethereum Classic are different in many ways. Here’s a comparison of both chains. Catalyst Calendar           We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile. Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH MARKET UPDATES Source: Crypto Market Pulse (22/05/2023)
GBP/USD: Pound Falls on Debt Ceiling News, Targets Key Support Levels

"Crypto Industry News: Ethereum Price Analysis and Technical Outlook

InstaForex Analysis InstaForex Analysis 02.06.2023 10:36
Crypto Industry News:  When asked about the future of the Ethereum cryptocurrency, ChatGPT gave surprisingly good news. Of course, no one else could have done it - only his uncensored version of DAN. Nay. He estimated that Ethereum could be worth over $10,000. Perhaps even by the end of the year. It seems downright improbable. The information presented below is a curiosity. They do not constitute financial or investment advice or any other type of recommendation.   They are only a subjective opinion, and ChatGPT itself, like any algorithm, can be wrong. The first quarter of the new year has brought an end to the disastrous declines of cryptocurrencies so far.   Technical Market Outlook: The ETH/USD pair has broken below the technical support seen at the level of $1,865 and made a new local low at the level of $1,836. The market is still under the bearish pressure and bears managed to retrace 50% of the last wave up.The next technical support is seen at the level of $1,816. The 61% Fibonacci retracement of the last wave up is seen at $1,825.   The momentum is now slightly positive, but the market still trades below the short-term trend line resistance. Only a sustained breakout above the line would change the outlook to more bullish.     Weekly Pivot Points: WR3 - $1,848 WR2 - $1,826 WR1 - $1,817 Weekly Pivot - $1,803 WS1 - $1,795 WS2 - $1,780 WS3 - $1,758   Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.  
Unlocking the Benefits: Deliverable KRW Market Reforms and Their Potential Impact

Market Update: Crypto Market Rebounds as Demand Rises. Ethereum Touches Support Level, Bitcoin Yet to Follow

Alex Kuptsikevich Alex Kuptsikevich 16.06.2023 11:44
Market picture The crypto market has climbed 2% in the last 24 hours to 1.04 trillion. It took a continuation of the Nasdaq rally and a dollar weakening by more than 1% from its intraday high to revive demand here. Demand also came after Tether's USD peg was restored, although the exchange rate was still 0.1% lower than 7 and 30 days ago. The cryptocurrency's fear and greed index rose from 41 to 47, back into neutral territory. As expected, bitcoin found support on the dip below $25,000, leaning on external positivity and short-term oversold conditions. However, the move is still in a downtrend and will remain so until the price breaks above previous local highs - now at $27.3K. Targets for the current downtrend stay in the $23.6K area. Ethereum has exhausted most of its corrective potential, as it has breached the 200-day moving average at $1630 and briefly touched oversold territory on the daily RSI.     Tether's USDT stablecoin has moved away from parity with the US dollar. The coin's weighted average exchange rate fell to 0.9958, according to CoinMarketCap. "The markets are nervous these days, so it's easy for attackers to take advantage of the general sentiment. We at Tether are as ready as ever," said Tether CTO Paolo Ardoino.     News background Investment giant BlackRock is preparing to file for a Bitcoin ETF. The US Securities and Exchange Commission (SEC) has previously rejected almost all applications to register cryptocurrency ETFs. Apple has rejected a new version of its non-custodial Zeus wallet app for the Lightning Network on the App Store. Cryptocurrency broker Floating Point Group (FPG), which has $50 billion in assets under management, reported a hack and halted trading, deposits and withdrawals. Damage is tentatively estimated at $15-20 million. The total number of subscribers to Reddit's leading cryptocurrency communities, r/Bitcoin and r/Ethereum, reached a new record high of 7 million users. More than 364 thousand people subscribed to the BTC section between 4 and 11 June. The SEC's litigation with two major cryptocurrency exchanges has likely piqued the community's interest.  
Crypto Market Holds Steady as Bitcoin Leads the Rally; Altcoins Show Mixed Performance

Crypto Market Holds Steady as Bitcoin Leads the Rally; Altcoins Show Mixed Performance

Alex Kuptsikevich Alex Kuptsikevich 20.06.2023 11:52
Market picture Crypto market capitalisation rose 0.8% to $1.073 trillion, close to its level of 10 days ago. Bitcoin was a major contributor to the rally, rising 1.6% to $28.8K, while Ethereum gained just 0.4% to $1730. Among the top altcoins, Solana (+3.5%) stands out, with other altcoins ranging from -1.2% (XRP) to +1.6% (Polygon). For the fifth day out of the last six, Bitcoin has breached the upper boundary of its bearish range and tested the 50-day moving average near $27K. Although the price has now breached the channel's upper boundary, a break of the downtrend cannot be declared until a close above $27.2K, the previous local high, is achieved. A reversal from current levels offers a downside of more than 10% with the potential for a drop to the 200-day moving average. According to CoinShares, investment in crypto funds fell by a paltry $5 million last week, but net outflows continued for the ninth consecutive week. Retail traders helped push Bitcoin above $26K, according to Glassnode, which noted an increase in activity from addresses controlling between 0.1 and 1 BTC.     News background MicroStrategy founder Michael Saylor said that recent SEC actions against crypto have made it clear to the industry that it is doomed to be bitcoin-centric. According to him, BTC is the only institutional-level asset. US crypto payments company Wyre announced it was shutting down after a decade of operation due to difficult bear market conditions. After fintech company Bolt terminated a $1.5bn acquisition agreement in September 2022, the platform was on the brink of bankruptcy. Ethereum developers discussed details of a future update to the Deneb consensus level during a conference call that will be part of Dencun hard fork. The minimum balance for ETH network validators is proposed to be increased from 32 ETH to 2048 ETH, attempting to improve blockchain efficiency. The International Monetary Fund (IMF) is working on a global infrastructure for central bank digital currencies (CBDCs) and legislation to control the movement of funds in CBDCs, said IMF chief Kristalina Georgieva.
Key Economic Events and Corporate Earnings Reports for the Week Ahead – September 5-9, 2023

Oil Prices Surge and Canadian Dollar Soars on Strong Demand Outlook; Gold Eyes Bullish Breakout Amid Central Banks' Easing Stance; Bitcoin Slides After Curve Finance Breach

Ed Moya Ed Moya 01.08.2023 13:30
Oil poised for best monthly performance since early 2022 Net-long positions in WTI  rise to highest levels in 3 months Goldman says global oil demand has surpassed peak set just before COVID-19 USD/CAD   Canadian dollar Oil and the loonie are flying high again as global growth prospects improve and on optimism the Fed is done tightening.  The Canadian dollar was weakening last week on fears that the BOC’s tightening cycle is starting to weigh on the economy.   That outlook might change if China delivers massive stimulus and if global disinflation trends remain in place.  The 1.3100 level remains key support for USD/CAD, while 1.3250 provides resistance. Oil Crude prices are finishing a solid month on a high note as demand prospects remain impressive and no one doubts that OPEC+ will keep this market tight.  The oil market is seeing the best month since early 2022 as most of the major central banks appear at the tail end of their tightening cycles.  Also supporting oil was the Goldman Sachs note that suggested we are not at peak demand.  The crude demand outlook is getting a boost on soft landing hopes for the US and Europe.  The ace up the sleeve of oil bulls is that the energy market is still awaiting massive stimulus from China that should boost global growth prospects.  WTI crude has rallied above the $80 level and is trying to make a run towards the $84.50 level.  Exhaustion might settle in until we get beyond Friday’s NFP report.    Gold Gold prices are attempting a bullish break out as optimism grows that the major central banks are all approaching the end of their tightening cycles.  The RBA might be one-and-done this week and the BOE might be done after a couple more.  The Fed is clearly waiting on the data, but they might be done if inflation plays nice.    Gold’s rally could extend if growth prospects turn sour.  If Wall Street starts aggressively in rate cuts by the first quarter of 2024, gold could easily find a home above the $2000 level.  It seems gold will need to wait for Apple’s earnings and the NFP report, before it delivers its next big move.  Bitcoin Bitcoin prices softened after Curve Finance announced they suffered a breach.  $50 million have been drained, which led to the over 10% drop with the Curve stablecoin.  This is a blow for Ethereum’s DeFi ecosystem, but not likely to trigger a massive selloff for Bitcoin.      
Weak July Performance: Polish Retail Sales Disappoint Amid Economic Challenges

Tips for Trading Ethereum (ETH)

InstaForex Analysis InstaForex Analysis 21.08.2023 14:24
Tips for trading ETH The price test at $1,677 coincided with the MACD indicator being in the negative zone, confirming the correct selling entry point for Ethereum. As a result, there was a drop to nearly the support level of $1,634, which was missed by a hair's breadth. It seems the pressure on Ethereum may persist, and we should anticipate further sharp declines in the trading instrument, given the decrease in buying incentives and market optimism since last week. The fact that ETH buyers missed out on $1,815 sooner or later had to lead to what we currently observe on the chart. It is better to be ready for the instrument's further decline, relying on scenarios 1 and 2.     Buy signal Scenario 1: One can buy Ethereum today at the entry point near $1,684 (green line on the chart), aiming for growth toward $1,707 (thicker green line on the chart). Near the level of $1,707, it is better to close long positions and open short ones. Ethereum is unlikely to grow today, especially following such a substantial sell-off that triggered numerous stop-loss orders. Important! Before buying ETH, make sure that the MACD indicator is above zero and just beginning to rise from it. Scenario 2: You can also buy Ethereum today in the case of two consecutive price tests at $1,673. This may limit the downward potential of the trading instrument and lead to an upward reversal. We can expect ETH to grow towards the opposite levels of $1,684 and $1,707.   Sell signal Scenario 1: You may sell Ethereum today after $1,673 is breached (red line on the chart), leading to a swift drop in the trading instrument. Bears see their key target at $1,654, where it is better to close short positions and open long ones. Pressure on Ethereum may surge at any moment. Important! Before selling ETH, make sure that the MACD indicator is below zero and just starting to decline from it. Scenario 2: One can sell Ethereum today in the case of two consecutive price tests at $1,684 when the MACD indicator is in overbought territory. This may limit the trading instrument's upward potential and trigger a downward reversal. We can also expect a decline toward the opposite levels of $1,673 and $1,654.     What's on the chart: Thin green line - entry price for buying the trading instrument. Thick green line - assumed price for placing take-profit orders or locking in profits manually, as further growth beyond this level is unlikely. Thin red line - entry price for selling the trading instrument. Thick red line - assumed price for placing take-profit orders or locking in profits manually, as further decline below this level is improbable. MACD Indicator. When entering the market, adhere to overbought and oversold zones.   Important Novice cryptocurrency market traders must exercise extreme caution when making market entry decisions. It is best to stay out of the market before significant fundamental reports to avoid being caught in sharp price fluctuations. If you choose to trade during news releases, always set stop orders to minimize losses. Without proper stop orders, you can quickly deplete your deposit, especially if you're not using money management and are trading with substantial volumes.   Remember that successful trading necessitates a clear trading plan, similar to the one outlined above. Spontaneously making trading decisions based on the current market situation is inherently a losing strategy for intraday traders.  
Why Gala, Ethereum, and VC Spectra Are Positioned for Potential Price Increase?

Why Gala, Ethereum, and VC Spectra Are Positioned for Potential Price Increase?

FXMAG Team FXMAG Team 02.11.2023 15:23
The recent developments surrounding Gala (GALA), Ethereum (ETH), and VC Spectra (SPCT) suggest that these cryptocurrencies are well-positioned for potential price increases. Gala's new partnerships are instilling confidence in the project, Ethereum's upcoming upgrade signals a bullish trend, and VC Spectra's unique investment features are attracting significant attention. Let's explore why these top crypto coins are a must-have in your investment portfolios.   >>BUY SPCT TOKENS NOW<< Gala (GALA) Regains Confidence With New Partnerships After a turbulent month of September, marked by internal conflicts among co-founders that negatively impacted its valuation, the GALA token is now regaining momentum. The leadership struggles within the gaming startup caused the GALA token's price to plummet.  However, October has brought about a much-needed recovery for GALA, as the company announces new partnerships and witnesses a restoration of confidence within its community. One notable collaboration is with the filmmakers behind Common Ground, winners at the Tribeca Festival, who will integrate their film into GALA's gaming platform. This partnership has significantly boosted sentiment surrounding GALA. The positive news is visibly contributing to the token's resurgence, with GALA trading at around $0.018 in October. Moreover, industry experts are optimistic about GALA's future value, predicting that the altcoin price will reach $0.030 before the end of 2023.   Ethereum Price Prediction: Upgrade and Whale Reveals Bullish Signals For ETH In October, shortly after All Core Developers Execution, Ethereum (ETH) developers launched Devnet-10 to test the Cancun/Deneb (Dencun) upgrade, setting up the devnet with 330,000 active validators to trigger a change in the validator churn limit. Later the same month, several brand new wallets were spotted that acquired a terrific amount of Ethereum (ETH). Four new blockchain addresses grabbed 56,070 ETH, paying an ETH max price worth $98.06 million in fiat.  Moreover, the anticipated Ethereum (ETH) upgrade and the recent Ethereum (ETH) whale activity suggest a bullish Ethereum price prediction. While Ethereum (ETH) traded at $1,801 in October, experts predict an Ethereum price prediction of around $2,000 before 2023 ends    VC Spectra (SPCT): A Game-Changer In Blockchain Investing VC Spectra (SPCT) is generating significant buzz in the crypto world, and it's no wonder why investors are excited about its potential for a price increase. The protocol offers a unique investment experience on the blockchain, making it accessible to investors of all financial backgrounds.  One key factor contributing to VC Spectra's potential price increase is the unlimited access to the top ICO list. This feature allows investors to diversify their portfolios and explore new investment opportunities within the blockchain space.  Furthermore, VC Spectra (SPCT) grants voting rights to its investors, enabling them to participate in the decision-making process regarding fund allocation actively. This democratic approach empowers investors and fosters a sense of ownership within the community. Currently, VC Spectra's SPCT token is in Stage 4 of its public presale, priced at $0.055. Since the beginning, it has seen a remarkable surge of 587.5%. The initial forecast predicted a price of $0.080 by the end of the presale, representing a staggering 900% increase.  Given the overwhelming demand and impressive performance in presale, SPCT is expected to surpass its initial forecast of $0.080, making it one of the best cryptos to buy for the long term.   Learn more about VC Spectra (SPCT) and its presale: Buy Presale: https://invest.vcspectra.io/login Website: https://vcspectra.io Telegram: https://t.me/VCSpectra Twitter: https://twitter.com/spectravcfund This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.  By accessing and reading this article, you acknowledge and agree to the above disclosure and disclaimer.  
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Cryptocurrency Markets Under Pressure as Uncertainty Lingers: BTC and ETH Experience Corrections

Walid Koudmani Walid Koudmani 27.11.2023 15:29
Cryptocurrency markets face pressure amid lingering uncertainty At the start of the week, the cryptocurrency market reflects predominantly bearish sentiments, marked by moderate declines across several currencies. Bitcoin has undergone a correction of several percentage points since Friday, when bullish activity drove its price to levels around $38,500 as Ethereum retreated from its $2150 peak, which approached yearly highs. These declines coincide with short-term investors, holding BTC for less than 155 days, enjoying nearly 15 percent average gains, historically foreshadowing heightened short-term selling pressure and preceding corrections, as suggested by Glassnode's analysis.   Interestingly, J.P. Morgan, in its analysis of the prevailing market conditions, highlights the positive implications of Binance's settlement with the US Department of Justice, viewing it as advantageous for both the exchange and the overall crypto market as the investigation into the leading cryptocurrency platform did not unveil concerns regarding liquidity or user funds, diminishing the likelihood of a 'second FTX' scenario in the eyes of the market.    Additionally, recent on-chain data indicates a slightly elevated selling activity by long-term investors with the critical trading range between $35,300 and $36,000 being deemed pivotal for Bitcoin's momentum as December has traditionally proven successful for Bitcoin, yielding an average return of 12%, potentially hinting at prices approaching new highs by the month's end. In any case, the situation remains uncertain and any major news event could have significant repercussions on the price of not only bitcoin, but the entire cryptocurrency market.  

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