Avalanche
Price analysis 3/11: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) has been volatile in the past few days but the long-term investors seem to be using the current weakness to buy. According to Whale Alert and CryptoQuant, about 30,000 BTC left Coinbase and was deposited in an unknown wallet. It is speculated to be a genuine purchase and not an in-house transaction. Although investors may be bullish for the long term, the short-term picture remains questionable. Stack Funds said in their recent weekly research report that they “expect sideways trading and possibly a potential dip” in the short term due to the increase in inflation and the lack of clarity regarding the conflict in Ukraine. Daily cryptocurrency market performance. Source: Coin360 While Bitcoin has been volatile, gold-backed crypto assets have made a strong showing in 2022...
Price analysis 3/7: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
The geopolitical tension between Russia and Ukraine has resulted in investors seeking safe-haven assets. Contrary to expectations by crypto investors, Bitcoin (BTC) has failed to rise along with gold and it remains closely correlated with the U.S. stock markets. Lloyd Blankfein, the former CEO of Goldman Sachs, said that the actions of governments freezing accounts, blocking payments and inflating the U.S. dollar should all be positive for crypto but the price action suggests a lack of large inflows. Daily cryptocurrency market performance. Source: Coin360 On-chain data suggests that investors may be accumulating Bitcoin for the long term. Data from Santiment shows that 21 out of the past 26 weeks have seen Bitcoin move off the exchanges. Could Bitcoin climb back above $40,000 and pull alt...
Price analysis 3/4: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
The equity markets in Europe and the United States are seeing a sea of red as traders continue to sell risky assets due to the geopolitical situation. Bitcoin (BTC) and several major cryptocurrencies are also witnessing profit-booking after the recent rise. Another reason that could be keeping investors on the edge is the upcoming Federal Open Market Committee (FOMC) meeting on March 16. A statement from Fed hair Jerome Powell on March 2 highlighted that the central bank is likely to hike rates this month. Fitch Ratings chief economist Brian Coulton expects core inflation to remain high in 2022 and the Fed to boost the “Fed fund rate to 3% by the end of 2022.” Daily cryptocurrency market performance. Source: Coin360 ExoAlpha managing partner and chief investment officer David Lifchit...
Terra, Avalanche and Osmosis lead the L1 recovery while Bitcoin searches for support
The layer-one (L1) ecosystem has received increased attention in recent months as users search for new investment opportunities in the Cosmos (ATOM), Fantom (FTM) and NEAR. Following January’s market sell-off, where Bitcoin (BTC) price dropped to bottom below $34,000, much of the L1 field has struggled to regain its momentum. Price performance of L1 tokens since Jan. 24. Source: Delphi Digital According to data from Delphi Digital, since the BTC bottom on Jan. 24, the only L1 to experience a notable gain in price include Terra (LUNA), Avalanche (AVAX) and Ethereum (ETH). Terra ecosystem growth The price growth seen in LUNA was in large part due to the announcement from the Luna Foundation Guard that it had raised $1 billion to form a Bitcoin reserve for the ecosystem’s Terra US...
Price analysis 2/28: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT
Bitcoin (BTC) soared above $40,000 on Feb. 28 even though the S&P 500 remained soft. This suggests that the correlation between Bitcoin and the U.S. equity markets may be showing the first signs of decoupling. If bulls sustain the price above $38,500 till the end of the day, Bitcoin would avoid four successive months of decline. The volatility of the past few days does not seem to have shaken the resolve of the long-term investors planning to stick with their positions. Data from on-chain analytics firm Glassnode showed that the amount of Bitcoin supply that last moved between three to five years ago soared to more than 2.8 million Bitcoin, which is a four year high. Daily cryptocurrency market performance. Source: Coin360 Interestingly, an experiment by Portuguese software developer T...
Price analysis 2/25: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT
The U.S. equity markets and Bitcoin (BTC) have rebounded sharply from their Feb. 24 lows while gold has made a retreat from its recent highs. This indicates that investors may be buying risky assets and reducing exposure to assets perceived as a safe haven. Recent reports also suggest that Russian President Vladimir Putin may send a delegation to negotiate with Ukraine and this raises hope that the conflict could end sooner than analysts expect. Some analysts believe that the U.S. Federal Reserve may not raise rates aggressively in March due to the geopolitical situation. Allianz chief economic advisor Mohamed El-Erian believes that the March 50 basis point rate hike is “completely off the table.” Daily cryptocurrency market performance. Source: Coin360 Dr. Raullen Chai, the co-f...
Top 5 cryptocurrencies to watch this week: BTC, LUNA, AVAX, ATOM, FTM
The geopolitical news flow is likely to result in volatile moves in Bitcoin (BTC) and altcoins in the next few days. News of Russian President Vladimir Putin ordering the nuclear deterrence forces on high alert may be viewed as a negative, but reports of talks between the warring nations could be positive as it raises hopes of an end to the conflict. The crypto community came into focus as the Ukrainian government called for help and sought crypto donations. Some individuals on social media said their Ukrainian credit cards had stopped working and they were not able to withdraw money from their banks. They highlighted how crypto was the only money left with them. Crypto market data daily view. Source: Coin360 While some analysts are projecting that Bitcoin may have bottomed out, Cointelegr...
Altcoin Roundup: 3 portfolio trackers NFT and DeFi investors can use to stay organized
The cryptocurrency ecosystem has seen a tremendous amount of growth over the past couple of years, as the introduction of decentralized finance (DeFi) and the popularity of nonfungible tokens (NFT) have led to an explosion of projects on more than a dozen blockchain networks. The rapidly growing ecosystem means investors have to keep track of multiple wallet addresses, making portfolio trackers a popular option for traders needing to manage a diverse multichain portfolio. Here are three portfolio-tracking decentralized applications, or DApps, crypto traders can use to help monitor their investments. Zapper Zapper supports the basic management of cryptocurrencies held on 11 different networks including Ethereum, Polygon, BNB Chain, Fantom, Avalanche and Optimism. The basic layout of t...
Avalanche price rallies 20% after report reveals $25M inflows into AVAX investment vehicles
Avalanche (AVAX) rallied by around 20% in the last two days as a new report revealed millions of dollars flowing into AVAX-based investment products. Penned by CoinShares, an institutional crypto fund manager, the report highlighted that Avalanche-based investment vehicles attracted about $25 million in the week ending Feb. 21, the second-biggest inflow recorded in the said period after Bitcoin’s (BTC) $89 million. Flow of assets. Source: Bloomberg, CoinShares In contrast, Ether (ETH), Avalanche’s top rival in the smart contracts sector, witnessed an outflow totaling $15 million. On the whole, Avalanche and similar cryptocurrency investment products attracted around $109 million, recording their fifth week of positive inflows in a row. AVAX rebounds against macro headwinds...
Price analysis 2/23: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT
Bitcoin (BTC) and several altcoins have bounced off their immediate support levels after buyers attempted to arrest the current decline. Bloomberg Senior Commodity Strategist Mike McGlone highlighted in a recent Tweet that Bitcoin was trading roughly 20% below its 50-week moving average and such discounted levels have “often resulted in good price support.” The bearish price action of the past few days does not seem to have deterred the institutional traders from accumulating at lower levels. According to CoinShares’ Feb. 22 “Digital Asset Fund Flows Weekly” report, institutional investors pumped about $89 million into Bitcoin funds between Feb. 14 and Feb. 18, taking the total inflows in the current month to $178.3 million. Daily cryptocurrency market performance. Source: Coin360 Crypto t...
Finance Redefined: Axelar becomes a unicorn, new ETH addresses hit 1.5M per month, Feb. 11–18
Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. This week has been full of funding raises, innovations, service deployments and a bit of volatile technical price action — for a change. Axelar Network attains $1B valuation following secondary raise The Axelar Network announced the completion of a $35-million Series B funding round this week, elevating its total market valuation to over $1 billion and establishing its status as a unicorn corporation. Major participants of the round include Dragonfly Capital, Polychain Capital and North Island Ventures, among others. The network has implemented partnership integrations with a suite of validators, as well as leading blockchain platforms such as Ethereum, Avalanche, Polygon and Polkadot. Cointelegraph spoke ex...
Bitcoin hits $44K after Canada emergency powers accompany 6% BTC price increase
Bitcoin (BTC) opted for fresh upside on Feb. 15 as a trip to near $40,000 saw an abrupt change of direction. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI prints classic bull signal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining swiftly overnight into Tuesday, going on to pass $44,000. A classic relative strength index (RSI) breakout, this time on the lower four-hour timeframe, preceded the move, which put the pair a full 6% higher versus Monday’s lows. #Bitcoin 4 Hour RSI broke out and MACD just had a Bullish Cross: pic.twitter.com/2bRVFeQsfX — Matthew Hyland (@MatthewHyland_) February 14, 2022 “I do think these are the first signs of a trend break,” popular Twitter account Phoenix commented in a fresh post on the day. It ...
