Prime Trust, the API-enabled B2B financial solutions provider has announced the addition of Stellar Lumens ($XLM) to their list of supported cryptocurrencies. The addition of XLM comes in response to the overwhelming demand customers have expressed. XLM 24-hour Price Chart Source: CoinMarketCap XLM was trading at $0.073 at the time of writing, up 2.00% in...Read More
BitMEX CTO Samuel Reed, who was charged and arrested by the U.S. Department of Justice on October 1, has been released on a $5 million appearance bond. Source: USDOJ Reed, was arrested on charges of violating the Banking Secrecy Act (BSA) and “willfully failing to establish, implement, and maintain an adequate anti-money laundering (‘AML’)” at...Read More
The Bitcoin market seemed to be consolidating again, following the trend it last witnessed back in June-July 2020. Generally, long-term investors consider the interpretation of the market as noise, but for derivatives traders, this could be the time to pay attention as contracts roll and Options expire. The Chicago Mercantile Exchange was in the news...Read More
Bitcoin and Gold, just a few weeks ago, were noting what some would call “unnaturally high” levels of correlation– a figure of 73.6%. However, the said correlation soon dipped on the charts, with the BTC-Gold correlation registering a figure of -28%, at the time of writing. Source: Skew That’s not all, either, since at the...Read More
Over the last one week, Ethereum registered poor daily returns that lowered the cryptocurrency’s valuation by more than 6%. The same was noted across the market after Bitcoin, the world’s largest cryptocurrency, too noted a decline on the charts. While such bearishness continued to persist, at press time, altcoins such as NEM and Zcash were...Read More
October hasn’t really been favorable to the digital assets industry, with many of the market’s assets struggling to keep up with bearish pressure. With Chainlink staying close to its $10-valuation on the charts, many in the community are expecting the cryptocurrency to drop further. In fact, recent analysis suggests that another breakout might take place...Read More
It is a known fact that Bitcoin has wiped the floor with all the other traditional assets in 2020. High turbulence notwithstanding, Bitcoin was still up by 48 percent at press time, a figure that was higher than Gold, the S&P 500, and WTI. Interestingly, one particular asset class has been rubbing shoulders with the...Read More
Disclaimer: The following article is the sole opinion of the writer and should not be considered as investment advice While the collapse on 1-2 October seemed brutal for most of the market’s crypto-assets, Litecoin has continued to maintain strong sideways movement between the ranges of $47.13 and $45. In fact, while LTC has breached its resistance...Read More
So, MicroStrategy bought millions of dollars worth of Bitcoin, without moving the price in any direction. Isn’t that a little surprising? At least for an asset where manipulation is said to be easy and present on a huge scale. It is weird how the news of a publicly-stated company buying $425 million worth of Bitcoin...Read More
Bitcoin is worth much more than what it is today. That’s not a rhetorical statement; in fact, it’s a practical one. If the metric you’re measuring Bitcoin against is potentially infinite, then to put a finite value of $10,600 on a cryptocurrency which has a fixed supply doesn’t make sense. Every fiat currency can be...Read More
Disclaimer: The following article attempts to analyze the emerging patterns in Tezos’ long-term market and its impact on the price The recent fall in Bitcoin’s price did not have much of an impact on the Tezos market as the cryptocurrency was already on a trajectory going south. The crypto-asset’s value has been crumbling since mid-August,...Read More
After months of hype and activity, the DeFi space is finally facing some tough questions. This, after the space noted major price corrections over the past week, with the top ten DeFi assets sustaining an average loss of 23.4% and losing an average value of 27.44% over the past month. Source: DeFi Pulse Here, it...Read More
Popular crypto-exchange BitMEX today announced a significant change in leadership, a step that comes over a week after the CFTC filed charges against it. According to the announcement, the changes will be made with respect to the leadership of the 100x group, the holding group for HDR Global Trading Limited, owner and operator of the...Read More
Bitcoin SV appeared to undergo a trend reversal, at press time, as its bullish price momentum pushed the cryptocurrency’s price above its immediate support and pivot levels. On the contrary, with a persistent downtrend, a bearish outlook was evident for Synthetix after it lost control of two resistance levels. Maker was at the end of...Read More
While under the current developments a major bearish market for digital assets may correctly identify a suppressed trading scenario for bulls, various technical indicators still suggest that a strong reversal cannot be ruled out during the course of the fourth quarter. However, altcoins like Polkadot, VeChain, and Basic Attention Token witnessed a strong descent to...Read More
The price charts at press time displayed that the bearish sentiment was once again regaining control. A typically higher volatility level was witnessed compared to earlier trading sessions. Most of the major alts were rallying against the buying sentiment. Bitcoin Cash was seen consolidating, after a short pump and dump event. DASH and Dogecoin too...Read More
The fear in the crypto space spiked in tandem with a drop in the stock market. Crypto Fear and Greed Index was at 43, compared to the previous day’s 47. However, Bitcoin’s outlook remained healthy in the long run. Crypto.com Coin’s charts suggested no change in its bearish outlook, nor did Stellar Lumens. Algorand formed...Read More
Ethereum investors have been at a loss given the past 30-day movement of the coin registering a drop of 1.1%, and a 2.9% loss over its 7-day movement. Irrespective of the halted growth in decentralized finance [DeFi], the short-term market for the second-largest crypto appeared bearish given the choppy looks of the Bitcoin market, but...Read More
Bitcoin was in a period of relatively low volatility over the past 90 days. Chainlink was overwhelmed by sellers in the long-term, while LINK bulls sought to defend a level of support. Cosmos retested a level of support-turned-resistance and was likely headed lower and DigiByte could have some gas in the tank to post minor...Read More
The prices might go helter-skelter on the short-term chart, but since the start of September, Bitcoin Cash has only witnessed sideways movement on the daily time period. A fixed range between $237 and $200 is evident in the charts while a long-term breakout is yet to take place. Bitcoin Cash 1-day chart Source: BCH/USD on...Read More
The trading charts for the altcoin market was once again displaying bearishness after a shift from the recent upward rallies gained just last week. Binance Coin with its double top formation was seen heading towards a bearish scenario. The bear market for IOTA, however, might still display some hope. In the case of FTX token, the...Read More
While the lows of September 23rd were not emulated in the recent decline, ADA’s price continued to sustain a position near the recent bottom. For Cardano, the trend has been consistently bearish since August 1st week itself but a minor bullish pullback was observed towards the end of September. The major difference remains the trend...Read More
BitMEX, the largest cryptocurrency derivatives exchange in the world landed in a heap of trouble with US law enforcement. One of the exchange’s co-founders and CTO, Samuel Reed was arrested, while charges of money laundering and other illegal transactions were issued against the other co-founders. The entire market’s dependence on BitMEX cannot be understated. Back...Read More
Disclaimer: The following analysis attempts to analyze the emerging patterns in the Litecoin short-term market and its impact on price. The Litecoin short-term market saw a momentary pump of 5.37% in an hour increasing its value from $45.67 to $48.131. However, the digital silver could not hold onto this value as large selling pressure emerged...Read More
The S&P 500 Index dropped from 3420 to 3343, a 2.3% drop, in a matter of hours after tweets from the US President about the stimulus package negotiations’ setback. Despite arguments about an uncorrelated market, the crypto sphere still suffered losses across the board. XRP might retain some bullish momentum technically, although bearish sentiment might...Read More
Have you been missing the price action in Bitcoin markets across exchanges lately? Based on WooBull’s Bitcoin volatility chart, 60-day volatility is 5.65 and 90-day volatility is 8.95. The recent drop in volatility can be attributed to the reduced inflow of Bitcoin into exchanges. Bitcoin Volatility || Source: Woobull Charts Trade volume on spot exchanges...Read More
The stock market saw a panicked sell-off after the US President tweeted that no stimulus package would be passed until after the elections. The drop affected the crypto market as well, with most major altcoins and Bitcoin seeing losses. Bitcoin currently trades at $10,605 after having endured a 1.40 percent drop in the past 24-hours....Read More
A mixed start to the day was seen in the altcoin market with a spike in selling pressure observed in most digital assets in the afternoon session followed by some good gains. Tezos was seen consolidating in a symmetrical triangle pattern in the daily chart. While XRP and Algorand both were seen rising to their...Read More
As we enter the fourth quarter, Bitcoin after its price dump seems to be consolidating around the $10,700 level. With this, Ethereum too seemed to gain some momentum, as it pushed higher towards its resistance level. However, both BitTorrent and Maker seemed to make a descending triangle formation, hinting toward a bearish scenario in the...Read More
The cryptocurrency market has come under a lot of pressure from regulators around the world. At the beginning of the final quarter, America’s Commodity Futures Trading Commission [CFTC] and federal prosecutors charged one of the largest Bitcoin trading platform BitMEX with facilitating unregistered trading among other violation. Now, the U.K. financial regulatory body, the Financial...Read More
