Bitcoin’s (BTC) volatility remained subdued in the final few days of the last year, indicating that investors were in no hurry to enter the markets. Bitcoin ended 2022 near $16,500 and the first day of the new year also failed to ignite the markets. This suggests that traders remain cautious and on the lookout for a catalyst to start the next trending move. Several analysts remain bearish about Bitcoin’s near-term price action. David Marcus, CEO and founder of Bitcoin firm Lightspark, said in a blog post released on Dec. 30 that he does not see the crypto winter ending in 2023 and not even in 2024. He expects that it will take time to rebuild consumer trust but believes the current reset may be good for legitimate firms over the long term. Crypto market data daily view. Source: Coin360 The...
The United States equities markets shrugged off the hotter-than-expected labor data on Dec. 2 and recovered sharply from their intraday low. This suggests that market observers believe the Federal Reserve may not change its stance of slowing the pace of rate hikes because of the latest jobs data. Although the FTX crisis broke the positive correlation between the U.S. equities markets and Bitcoin (BTC), the recent strength in equities shows a risk-on sentiment. This could be favorable for the cryptocurrency space and may attract dip buyers. Crypto market data daily view. Source: Coin360 The broader crypto recovery may pick up steam after more clarity emerges on the extent of damage caused by FTX’s collapse. Until then, bullish price action may be limited to select cryptocurrencies. Let’s lo...
The multi-week ApeCoin (APE) market rally is nearing exhaustion owing to a mix of technical and fundamental factors. Fundamental — ApeCoin Staking launch In the past two weeks, APE’s price is up over 50% after bottoming at around $2.60. The APE/USD rebound came in line with similar recovery moves elsewhere in the crypto market. But, it outperformed top assets, including Bitcoin (BTC) and Ether (ETH), as traders pinned their hopes on ApeCoin’s staking debut. The ApeCoin Staking feature will debut on Dec. 5 at apestake.io, according to its developer Horizon Labs. It will allow users to lock their APE holdings into four staking pools — ApeCoin pool, BAYC pool, MAYC pool, and Paired pool — that will allow them to earn yield periodically. The feature announcement has resulted ...
United States-based ApeCoin (APE) holders could miss out on staking rewards after the U.S. was added to a list of regions geo-blocked from using an upcoming APE staking service. Blockchain infrastructure company Horizen Labs, which is building the site on behalf of the ApeCoin decentralized autonomous organization (DAO), revealed the news in a Nov. 24 update regarding ApeStake.io on Twitter, saying “unfortunately, in today’s regulatory environment, we had no good alternative.” Ape Staking Update: Big thanks to the talented community devs for their helpful improvements. Bug Bounty AIP delayed us a bit, so we shortened the pre-deposit period by a week to keep our original 12/12 go-live. Alternate front-end sites going live. See card. pic.twitter.com/mgmP7X3SwQ — Horizen Labs (@HorizenLabs) N...
The United States equities markets rallied sharply last week, ending a three-week losing streak. The S&P 500 rose 3.65% last week while the Nasdaq Composite soared 4.14%. Continuing its close correlation with the U.S. equities markets, Bitcoin (BTC) also made a strong comeback and is trying to end the week with gains of more than 7%. The sharp rally in the stock markets and cryptocurrency markets are showing signs of a bottoming formation but it may be too early to predict the start of a new bull move. The equities markets may remain on the edge before the release of the U.S. inflation data on Sept. 13 and the Federal Reserve meeting on Sept. 20-21. Crypto market data daily view. Source: Coin360 Along with taking cues from the equities markets, the cryptocurrency space has its own impo...
A proposed class-action lawsuit alleges that Yuga Labs “inappropriately induced” the community to buy Bored Ape Yacht Club non-fungible tokens (NFTs) and the project’s affiliated ApeCoin (APE) token. The proposed class-action driven by law firm Scott+Scott was published on July 21, claiming that Yuga Labs used celebrity promoters and endorsements to “inflate the price” of the BAYC NFTs and the APE token. It also alleges that Yuga Labs promoted the growth prospects and chance for huge returns on investment to “unsuspecting investors.” “After selling off millions of dollars of fraudulently promoted NFTs, YUGA LABS launched the Ape Coin to further fleece investors.” “Once it was revealed that the touted growth was entirely dependent on continued promotion (as opposed to actual utility or unde...
The bears are attempting to sink Bitcoin (BTC) below $19,000 to further cement their advantage over the crypto market. Analysts watching Bitcoin’s MVRV-Z Score, a metric which measures how high or low Bitcoin’s price is relative to “fair value,” expect an even deeper fall before the bottom is finally reached. However, economist, trader and entrepreneur Alex Krueger pointed out that Bitcoin’s volume hit an all-time high in June. Usually, the highest volume in a downtrend is indicative of capitulation and that “creates major bottoms.” If Bitcoin follows the historical pattern of the 2018 bear market, Krueger expects the bottom to form in July. Crypto market data daily view. Source: Coin360 Due to the tight correlation between Bitcoin and the S&P 500, crypto traders will have to keep a cl...
Yuga Labs, the creator of two of the most popular ape-themed nonfungible token (NFT) offerings — Bored Ape Yacht Club (BAYC) and OtherSide — witnessed yet another orchestrated phishing attack with investors losing over 145 Ether (ETH) or nearly $260,000 at the time of writing. OKHotshot, a blockchain detective and a member of the Crypto Twitter community, alerted crypto investors about the compromise of two official Discord groups linked to BAYC and OtherSide NFTs. BAYC & OtherSide discords got compromised‼️ Seems because Community Manager @BorisVagner got his account breached, which let the scammers execute their phishing attack. Over 145E in was stolen Proper permissions could prevent this pic.twitter.com/lCl2DfZQ0W — OKHotshot (@NFTherder) June 4, 2022 According to OKH...
Popular crypto analytics platforms Etherscan and CoinGecko have parallelly issued an alert against an ongoing phishing attack on their platforms. The firms began investigating the attack after numerous users reported unusual MetaMask pop-ups prompting users to connect their crypto wallets to the website. Based on the information disclosed by the analytics firms, the latest phishing attack attempts to gain access to users’ funds by requesting to integrate their crypto wallets via MetaMask once they access the official websites. Security Alert: If you are on the CoinGecko website and you are being prompted by your Metamask to connect to this site, this is a SCAM. Don’t connect it. We are investigating the root cause of this issue. pic.twitter.com/7vPfTAjtiU — CoinGecko (@coingeck...