Data shows that Bitcoin investors are showing a high amount of hype around the break above $30,000, something that may end up backfiring. Bitcoin Investors Are Showing High Levels Of Euphoria Currently According to data from the on-chain analytics firm Santiment, euphoria in the market is currently significantly more than what was observed following the break above the $25,000 level last month. The indicator of interest here is the “Social Volume,” which tells us about the degree of discussion that’s taking place around a specific topic (like Bitcoin or the cryptocurrency....
Days After Arresting Do Kwon, Montenegro Wants To Develop A CBDC With Ripple
Days after the arrest of Do Kwon, the founder of Terra Labs, on fraud charges, Montenegro announced its intention to develop a central bank digital currency (CBDC) in partnership with Ripple, a blockchain company. Montenegro Partners With Ripple For CBDC Montenegro has expressed interest in digital currencies and approached Ripple to develop a pilot program and […]
111 Million SHIB Enter Dead Wallet In 24 Hours, Here Are The Details
Over the past 24 hours, the Shiba Inu community destroyed over 100 million SHIB by sending the tokens to Shiba Inu’s dead wallet, a token-burning mechanism that crypto protocols use to control the number of circulating tokens in the market. SHIB Tokens Burned Through Ten Different Transactions According to a Shibburn report, the Shiba Inu Army has collectively destroyed 111,173,988 SHIB tokens within the past 24 hours. The tokens were burned in 10 different transactions by members of the community. Related Reading: Ethereum Addresses In Profit Touches 11-Month High Ahead Of Shapella....
Shiba Inu Announces Latest Developments For Its Metaverse
In a recent announcement, the team behind the popular meme coin Shiba Inu revealed new details about its highly anticipated metaverse. The project has been in development for a while now and is set to provide a unique design and social experience for users. Shiba Inu’s announcement reveals the metaverse will feature a wide range […]
Solana (SOL) Registers Over 10% Price Gains As Bulls Take Control
The bulls have painted the market green, with most cryptocurrencies scoring impressive price gains in the last 24 hours. The ongoing market-wide rally has empowered most coins to recover their lost price gains, with Bitcoin adding over 6.57% in seven days. However, among the top coins, Solana scored the most gains, rallying over 10% in the last 24 hours. The gain places Solana (SOL) at the 10th position among top-gaining cryptocurrencies today. Solana’s current price rally comes after three consecutive days of price decline. Solana Price Action Over The Past Weeks Solana (SOL) performed....
Bitcoin Breaks $30,000 As Whales Show Outflow Activity
Bitcoin has broken above the $30,000 mark as on-chain data shows whales have been making some large outflows during the past day. Bitcoin Whales Have Made Large Exchange Outflows Today According to data from the on-chain analytics firm Santiment, 11 large BTC outflows were made from exchanges today. The relevant indicator here is the “exchange […]
Cardano Transaction Volume Tops Bitcoin As Price Faces Inflection Point
For longer than other altcoins, the Cardano (ADA) price was stuck in a deep bear trend. However, recent data shows that bullish sentiment is returning. But, the ADA price is facing one last key challenge to start a major rally. A look at the 1-day chart of ADA reveals that the price managed to break the 200-day exponential moving average (EMA) at $0.396 to the upside today. The 200 day EMA is traditionally used to indicate the long-term trend and is considered a bear/bull boundary line. At the time of writing, ADA was trading at $0.408, but is still facing probably its biggest challenge in....
Bitcoin Price Predicted To Hit $10 Million By These Fund Managers Amidst US D...
As Bitcoin price breached the vaunted $30,000 level, many became excited as to how much more the king of crypto can bring on the table. Will Bitcoin shoot for $31K? $35K? Or, $100K? The bull run is here, they say. Forget about these puny figures. They don’t mean nothing. At least, according to these well-known […]
Hacker Exploit South Korean Exchange GDAC, Drains Over $14 Million
In the early hours of Sunday, South Korean crypto exchange GDAC hit a cyber attack resulting in losses of 23% of the exchange’s total custodial assets. The hacker transferred multiple crypto assets from the exchange’s hot wallet to an unknown wallet address, the firm revealed on April 10 on its website. Following identifying the breach, […]
A Staggering 53% Of All Bitcoin In Circulation Remain Unmoved In Over 2 Years
One in every two Bitcoin (BTC) in circulation has not been moved in the last two years. 53% Of BTC Not Moved In Over 2 Years This is according to Glassnode data shared by Antony Pompliano, a crypto and Bitcoin supporter, in a tweet on April 10. If you take it a step further, almost 29% of all bitcoin in circulation have not moved in the last 5 years. That is over $150 billion in market cap that hasn't moved in half a decade. pic.twitter.com/33bivFYudV — Pomp 🌪 (@APompliano) April 10, 2023 With over 53% of all BTC in circulating supply having not been moved in the last two years,....
Here Are The DeFi Tokens That Are Outperforming The Market
With Bitcoin’s break above $30,000, euphoria is returning to the crypto market, but there are some decentralized finance (DeFi) tokens that are taking the recovery a bit further. Where Bitcoin is seeing single-digit gains on its daily and weekly chart, these DeFi tokens are returning double-digit gains for their investors. Stacks (STX) Stacks (STX) is […]
Chainlink Investors Show Pessimism, Break Incoming?
Data shows Chainlink investors have been pessimistic recently, something that could actually turn out to be bullish for the cryptocurrency. Chainlink Sentiment Has Been Highly Negative Recently As pointed out by an analyst on Twitter, cryptocurrency market participants look to be bullish on LINK right now. The relevant indicator here is the on-chain analytics firm Santiment’s “Weighted Sentiment,” which tells us about the general sentiment around a given coin. This metric is based on two other indicators: the Sentiment Score and the Social Volume. The former measures....
Ethereum Trumps Tron, BNB Chain As The Most Active Network By Fees Generated
Ethereum is the most active platform ranked by the fees generated in the last six months, Token Terminal data shows. Ethereum Generates $742.9 Million in Fees In 180 Days Ethereum is a smart contracting platform where users can launch dapps serving various sub-sectors in crypto, including gaming, decentralized finance (DeFi), and more. Over the last six […]
Shiba Inu Futures Open Interest Soars, But Volatility Remains Stagnant
Shiba Inu (SHIB) may have had a week of consolidation, but it’s far from being overlooked by traders. With a steady rise in futures open interest since mid-March, this cryptocurrency has been on the radar of many investors. And while its recent performance hasn’t been particularly outstanding, with a 1.7% increase in the past 24 […]
Why Is Ethereum (ETH) Still Trading Below $2,000?
Ethereum (ETH) has not kept up with Bitcoin’s growth over the last week the way it normally would. While the largest cryptocurrency by market cap has now broken above $30,000, ETH is still trending below $2,000, a price point that should’ve already been broken given the current recovery trend in the crypto market. So why is Ethereum still trading below $2,000? Market Waiting Out Ethereum Upgrade The Ethereum Shapella upgrade is scheduled to take place on April 12 and anticipation around the upgrade is already building. However, instead of pushing the price of the digital asset up as....
Ripple Will Win Vs. SEC If Judge Grasps The Technology: Lawyer
A ruling by the United States Southern District Court of New York in the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) is inching closer. And according to an analysis by attorney Jeremy Hogan, who has been following the case with video updates since the beginning, the odds of a […]
How To Trade Bitcoin Ahead Of Tomorrow’s CPI Release? Analysts Weigh In
The Bitcoin price has risen above $30,000 for the first time since June 2022, continuing the uptrend that began earlier this year. After the price last struggled with resistance at $28,600 on the 1-day chart for over three weeks, the explosive breakout occurred yesterday while both traditional markets and gold remained flat. However, as Bitcoinist reported in this week’s macro preview, tomorrow is the most important day of the week, if not the month. Wednesday, April 12, the US Consumer Price Index (CPI) for March will be released at 8:30 am EST. A few hours later, at 2:00 pm EST,....
The Crypto Paradox: Most Americans Know About It, But Few Trust It — Survey
Crypto may have grabbed the attention of nearly 90% of US adults, but the majority remain skeptical about its reliability and safety, according to a recent survey by the Pew Research Center. The findings, published on Monday, reveal a growing concern amongst the general public regarding the ways to invest, trade, or use digital currencies, […]
Polkadot Rises In Popularity Among Futures Traders – A Bullish Turn For DOT P...
Polkadot (DOT) enthusiasts may be in for a bullish week as healthy demand for the cryptocurrency is observed in the futures market, according to a recent tweet by Huobi. With a 24-hour trading volume of $162 million and a market capitalization of over $7.7 billion, Polkadot’s rally is showing no signs of slowing down. In fact, the coin has gained 3.1% against the US dollar since yesterday, indicating that the market is actively participating in its upward momentum. With such promising developments, it’s no wonder that Polkadot is quickly becoming one of the most sought-after....
Bugs Discovered On Ordinals Protocol As Bitcoin Rips Above $30,000
Bitcoin prices are now trading above $30,000 for the first time in over eight months. The rally coincides with the discovery of an indexing bug in Ordinals protocol, a platform where users can mint non-fungible tokens (NFTs) on Bitcoin. The 1,200 Orphaned Inscriptions On Ordinals Protocol The bug in the Ordinals protocol was discovered to have led to approximately 1,200 inscriptions that were supposed to be included in Bitcoin being excluded though they were all valid. These “orphaned” inscriptions were because the indexing flaw only caused the protocol to pick out inscriptions in the....
Elon Musk Merges Twitter With X, What Does It Mean For Dogecoin?
What a bombshell: without official announcement, Twitter Inc. ceased to exist as a company last week – but what does this mean for Dogecoin (DOGE)? As court documents show, X Corp. merged with Twitter Inc. on April 4. A court filing states: Pursuant to Rule 7.1(a)(1) of the Federal Rules of Civil Procedure, the undersigned counsel […]
BNB price (Binance coin) is gaining pace above the $320 level against the US Dollar. It could rise further toward $350 or higher, similar to Bitcoin. Binance coin price is showing bullish signs above the $315 level against the US Dollar. The price is now trading above $320 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $312 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could trade to a new high above $350 in the near term. Binance Coin Price Regains Strength In the past few days, BNB price....
Ethereum Price Faces Rejection Despite Bitcoin’s Surge, Dips Still Supported
Ethereum price failed to clear the $1,925 resistance zone against the US Dollar. ETH is struggling to test $2,000 while Bitcoin gained pace and rallied above $30,000. Ethereum attempted a fresh increase but struggled above the $1,925 zone. The price is trading above $1,850 and the 100-hourly Simple Moving Average. There was a break above a bullish pattern with resistance near $1,860 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower but the bulls might remain active near $1,880. Ethereum Price Tops Again Ethereum’s price started a fresh increase above the....
Stacks (STX) Pulls Ahead Of Top 50 Altcoins With 10% Price Spike
Stacks, the blockchain platform that promises to bring smart contracts to Bitcoin, has outperformed most altcoins in the top 50 roster in the market today. While other cryptocurrencies struggled to make significant gains yesterday, the tables have turned today as Stacks’ native token rises to new heights. This spike in value has left many investors wondering if Stacks is poised to become the next big thing in the world of blockchain technology. Related Reading: Bitcoin Price Poised To Hit $50,000, This Crypto Expert Predicts STX Price Rallies In Last 7 Days The price of STX at....
Plan For Gold-Backed Digital Currency Emerges from Texas Legislature
Texas lawmakers have proposed a glittering innovation that could shake up the cryptoverse: a gold-backed digital currency. In a bold move, identical bills have been introduced to create a state-based crypto asset that would be supported by the precious metal. But the proposal has raised eyebrows, as some US lawmakers are still against the introduction […]
Bitcoin Price Rallies Past 30K, A Strengthening Case for Upside
Bitcoin price rallied above the $28,800 resistance. BTC is up over 6% and it could rise further above the $30,500 resistance zone. Bitcoin climbed higher and was able to clear the $30,000 resistance zone. The price is trading above $30,000 and the 100 hourly Simple moving average. There was a break above a bullish continuation pattern with resistance near $28,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its increase if it clears the $30,500 resistance level. Bitcoin Price Gains Bullish Momentum Bitcoin price formed a fresh support base above....
Bitcoin Price Breaks Above $30K For First Time Since June 2022
Bitcoin price is once again pushing higher and breaking boundaries, this time above the key psychological level of $30K per coin. It marks the first time BTCUSD trading above the level since June 2022. Is this more confirmation of a bullish trend blossoming? Or is this a fake out above resistance before a bigger collapse and possible recession? Bitcoin Price Moves Back Above $30K Psychological Resistance Back in mid-2021 after Bitcoin price was rejected from $65K, it first found support at $30K and bounced back to $68K to put in a second, slightly higher high and long term peak. After the....
U.S. Presidential Candidate Robert Kennedy Advocates For Bitcoin As A Safe Haven
As cryptocurrencies like Bitcoin (BTC) continue to gain popularity, some advocates suggest they could offer an escape route for the public from the dangers of financial bubbles. Among these advocates is Robert Kennedy, a US presidential candidate, who argued that Bitcoin and other cryptocurrencies operate on a decentralized network less vulnerable to market volatility and […]
Bitcoin Bull Run Will Continue Until 2024 Expert Predicts, Can BTC Break $100...
Bitcoin (BTC) has been on a remarkable run during the first quarter of 2023, with a year-to-date increase of 69%. Bitcoin is trying to break its consolidation level and surpass its nearest resistance to breach the long-awaited $30,000 psychological level, which will introduce a new normal to the market and the new fully formed bull run. As of this writing, the industry’s largest cryptocurrency by market cap is trading at $29,200, posting a profit of over 3% in the last 24 hours. Will Bitcoin continue its bull run through 2023 and the 2024 halving cycle? Related Reading: Is Ethereum....
Uniswap Price Decline May Bring Fresh Buying Opportunities For Traders
Over the past few days, the Uniswap price has been trading sideways with minor losses. On the daily time frame, the coin has only moved up by 0.4%, indicating consolidation. Unfortunately, in the last week, UNI has lost almost 2% of its value. For the past couple of weeks, Uniswap’s trading range has been limited between $5.51 and $5.90, respectively. If the price moves above $5.90, the buyers will be in control of the altcoin’s price. At the time of writing, the technical outlook of UNI indicated the presence of bearish forces. The demand and accumulation of the altcoin....
Brace Yourself: The Most Explosive Move In Bitcoin In Years Has Begun
Bitcoin price is current trading at just below $30,000 after spending weeks building up pressure in a tight trading range. The lack of volatility has resulted in a technical signal that says explosive volatility is ahead, and has just begun. Even the tool’s creator has spoken up on the volatility to come. Bollinger Bands Expand After The Second-Tightest Ever The Bollinger Bands in Bitcoin are a volatility measuring tool. Because BTC is so volatile, it makes for a wild rollercoaster ride of a technical indicator. At cycle peaks when BTC is the strongest, the bottom Bollinger Band....
Bitcoin Miners Protected By New Legislation In Arkansas State
The state of Arkansas has recently joined the ranks of other US states in passing a bill that seeks to regulate Bitcoin (BTC) mining. The Arkansas Data Centers Act of 2023 has successfully passed through both the House of Representatives and Senate and is currently awaiting the final approval of Governor Sarah Huckabee Sanders. The […]
Ethereum Staking Deposit Plummets As Shanghai Upgrade Draws Near, Here’s Why
After recording a spike following the enticing yields of Ethereum (ETH) liquid staking platforms such as Lido offers, Ethereum total staking deposit is beginning to see a plummet just a few days before the Shanghai launch which is set to take place on April 12. This dip was initially revealed by on-chain analytics provider Glassnode on April 9 in a report disclosing the current state of the Ethereum staking ecosystem. According to the report, the decline in Ethereum staking deposits can be attributed to two main factors. Why Is Ethereum Staking Deposit Declining? The on-chain analytics....
Is Ethereum Set to Rally After Shanghai? Data Suggests Bullish Sentiment
Over today’s trading session, Ethereum and the crypto market are showing strength and are trading in the green. The positive price action could be supported by the expectation around ETH’s upcoming major upgrade, “Shanghai.” Related Reading: Analyst That Predicted 2022 Crypto Bottom Says Ethereum Will Hit $10,000 Scheduled for April 12th, this upgrade will allow Ethereum 2.0 validators to un-staked their locked ETH. As a result, the cryptocurrency’s available supply is bound to increase, which could translate into negative price action. So far, the opposite is taking place as traders....
Bitcoin Long-Term Holder Rate Returns To 2021 Levels, Good News For Crypto?
Bitcoin long-term holders are once again on the rise even with recovering prices. This time around, the rate at which more investors are choosing to hold their coins for longer is growing rapidly and has now returned to 2021 levels, when the last bull market was at its peak. Bitcoin Holders Choosing To Hold Their […]
Bitcoin Shows Parallels With 2017 Cycle, Here’s What Can Happen Next
A quant has pointed out parallels between the current and the 2017 Bitcoin cycles, something that may contain hints about what’s next for the asset. The Current Bitcoin Cycle Has Shown Interesting Parallels With The 2017 Cycle As explained by an analyst in a CryptoQuant post, there have been five interesting recent events in the current cycle that are similar to what was seen in the 2017 cycle. The 2017 cycle hit its top in December of that year, while the current cycle hit its top back in November of 2021. The entirety of these cycles isn’t relevant in the context of the....
Bitcoin MVRV Suggests Rally May Have More Room To Grow
The current trend in the Bitcoin MVRV ratio suggests the ongoing rally in the cryptocurrency’s price may have room to grow further still. Bitcoin MVRV Ratio Hasn’t Yet Reached Its 4-Year MA As pointed out by an analyst in a CryptoQuant post, the recovery phase in the asset’s price isn’t over yet. The “Market Value […]
Analyst That Predicted 2022 Crypto Bottom Says Ethereum Will Hit $10,000
Profit-taking investors are probably enjoying as Ethereum rises to a new all-time high while some await a price correction to accumulate holdings. Price corrections and bottoms are, after all, inherent for cryptocurrencies, Ethereum inclusive. However, Chris Burniske, a partner at Placeholder VC, tells his Twitter followers to surrender expectations for a price correction on Ethereum. In his tweet, the venture capitalist said Ethereum is gearing up for a massive long-term rally. Burniske was the analyst who correctly predicted the November 2022 crypto assets bottom. He noted that....
XRP Is Not A Security, Lawyer Claims With Explanation
While the end of the prolonged XRP lawsuit case with the United States (US) Securities Exchange and Commission (SEC) is still very much uncertain, on April 9, a partner at the law firm of Hogan & Hogan and a lawyer took to his Twitter with a series of tweets to oppose the SEC claims on […]
Polkadot Trades Sideways, Key Levels To Monitor For DOT
The price of Polkadot has been trading sideways within a narrow range of $5.7 to $6.6 in recent days, with a slight uptick of only 0.7% in the past 24 hours indicating consolidation. The weekly chart shows a decline of 1.7%, and the technical outlook is bearish with decreasing demand and accumulation. Although buying pressure is still present above the $6.10 mark, the ongoing consolidation has caused a decline in buyers’ confidence. If buyers fail to act soon, Polkadot could drop below its current price level and reach its local support level. Similar to Polkadot, other altcoins have....
Bitget Exchange Launches $100 Million Fund For Web3 Startups In Asia
Monetary support is likely the major growth drawback in the Web3 space, as there are several startup projects with clear vision but lacking capital. On that note, Bitget, a Seychelles-based crypto derivatives exchange, has launched a Web3 development-focused fund for crypto startups in Asia. According to the announcement, the fund will kick off with an […]
New York Times Attacks Bitcoin With Piece Full Of Misinformation
The New York Times has once again published an inflammatory article about Bitcoin mining full of misinformation. Although leading Bitcoin researchers were quick to refute the information and data as biased and false, the article remains online in an effort to push BTC into the corner of a climate sinner. One of the leading Bitcoin […]
Shiba Inu Price Set For Breakout From Bull Pattern In April
The Shiba Inu (SHIB) price continues to consolidate, showing little momentum to initiate another furious rally. With the Bitcoin price trading below the key resistance zone at $28,600, an altcoin season has so far failed to materialize – and with it an important catalyst for previous SHIB rallies. However, SHIB has quietly formed a bullish chart pattern that could point to a price breakout before the end of April. After the sharp pullback from $0.00001591 in early February, SHIB reached a local low at $0.00000967 on March 10. However, since then SHIB has been writing higher lows and....
Cardano (ADA) Draws Attention As Whales Accumulate 560 Milloon Tokens
Cardano is recently witnessing more activities from top whales. The whales have pushed their total Cardano holdings close to 3 billion ADA. According to a crypto analyst @ali_charts, Cardano whale addresses holding between 100 million and 1 billion ADA tokens have been on a huge accumulation campaign. But ADA price is yet to reclaim its hold on the $0.40 it lost last week. Cardano Whales On Buying Spree The crypto analyst noted the top Cardano whales had amassed about 560 million ADA tokens over the past two weeks. He made the report based on data from an IntoTheBlock chart. At the time of....
New Court Filing Shows FTX Kept Crypto Wallet Keys On AWS
A recent report shows that the bankrupt crypto exchange, FTX, stored private keys to its customers’ wallets on Amazon Web Services (AWS). This information came from the first interim report of the current FTX CEO published on April 9. The FTX crypto exchange collapsed within 10 days in November 2022. Its crash caused massive losses […]
Bitcoin Circulation Rate Remains Low, Why This Could Be Bad For Rally
On-chain data shows the Bitcoin circulation rate has continued to be low recently, something that may be bad news for the current BTC rally. Bitcoin Circulation Has Remained Low Despite Recent Price Surge According to data from the on-chain analytics firm Santiment, 105,000 BTC is moving per day currently. The relevant indicator here is the “circulation,” which measures the unique daily number of Bitcoin tokens that are showing some movement on the blockchain. Since the metric only counts unique coins, it means that if a token has been shifted on the network multiple times in a....
Polygon Bearish Signal: $109M In MATIC Enters Binance
Data shows about $109 million in MATIC has entered into Binance’s wallets during the past day, a sign that Polygon whales may be selling currently. Polygon Whales Have Deposited Large Amounts To Binance Today According to data from the cryptocurrency transaction tracker service Whale Alert, multiple large MATIC movements have been spotted on the Ethereum […]
Bitcoin Price At Pivotal Point, Which Comes First: $25,000 Or $30,000?
For the seventh time in the last three weeks, Bitcoin has been rejected at the resistance area of $28,600. Analysts are therefore divided on whether the Bitcoin price is on the verge of another capitulation or whether the bears are running out of steam and the breakout above $30,000 is finally coming. Bitcoin Price On the Verge Of A Breakout? In their latest analysis, Jan Happel and Yann Allemann, co-founders of Glassnode, note that Bitcoin remains unwilling to break out to the upside or break down. According to the two experts, the consolidation poses the risk that Bitcoin will dip....
Dogecoin Price Prediction: Doge Near Key Juncture and 100 SMA Is The Key
Dogecoin started a downside correction from the $0.1050 zone against the US Dollar. DOGE is now holding major support at $0.080 and might start a fresh increase. DOGE started a downside correction below the $0.090 support against the US dollar. The price is trading above the $0.080 zone and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.084 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The pair could start a fresh increase if there is a clear move above $0.0840. Dogecoin Price Revisits 100 SMA After a major....
Big Week Ahead For Bitcoin And Crypto: This Will Be Crucial
The Bitcoin and crypto markets have seen a strong weekly close. Bitcoin’s price moved straight up into the current key resistance at $28,600. After seven failed attempts, this puts the price once again just below the current key level that separates BTC from $30,000. A powerful price move will also benefit the broader crypto market […]
