Crypto market
Ethereum falls below $2,000 as top altcoins see mild mid-week losses
Ethereum has given up Tuesday’s gains after failing to sustain the grip on $2,000 Solana, Polygon, and Cardano native tokens are also trading in the red The cryptocurrency market appeared to have calmed on Tuesday following two weeks of heavy losses, but the latest winds have reversed the crypto market course again. Ethereum started the week trading marginally above $2,000, and even though it slipped below this mark during Monday’s trading session, the premier alt quickly recovered. Ether’s resilience is seemingly once again being tested in the face of a mild slump in the market on Wednesday. Other altcoins like Avalanche (AVAX) and Polygon (MATIC) have also pulled back during this period – some, markedly, by more significant margins than Ether. Ethereum price has suffered yet ...
Market strategist claims the crypto crash might be ‘good’ for the sector in the long term
The unprecedented fall of Terra (LUNA) and the algorithmic stable coin UST sent shockwaves across the whole crypto market The crash has given more voice to calls for regulation and investor protection The past few weeks have been turbulent for investors in the crypto space, with market movements creating margins never seen before. Investors have had to cut losses, not to mention being caught in fixes, unable to predict how the cryptocurrencies they track might perform upon trading. The heavy downturn has opened up discussions on the utility and market performance among industry experts. Bitcoin may hit a bottom of $12,000 during this current cycle In an interview with Stanberry Research, Gareth Soloway, the President of InTheMoneyStocks.com, dismissed the popular belief that Bitcoin f...
Bitcoin clasping to remain above $30k as Solana leads altcoins in recovery
Bitcoin has mounted a slight recovery following last week’s crash to a multi-month low of $26,350 Many altcoins have charted green candles today, with Solana leading the way among the top ten coins by market cap Leading a recovery upwards of $30k this week, Bitcoin lost ground after briefly hovering above $31k yesterday. The leading digital asset had built momentum from $28,700 last Saturday, climbing as high as $31,305 early Monday before retracing as far as $29,260, CoinMarketCap data shows. The pioneer crypto has since recorded a series of minor gains and is now pushing towards $31,000 again. However, the ascent above $30,000 has not been without opposition from bears. At the time of writing, Bitcoin is exchanging hands at $30,215 – having gained approximately 1.77% in the last 24...
$1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus
The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007’s subprime mortgage market crisis — around $1.3 trillion, which has prompted fears that creaking crypto market risk will spill over across traditional markets, hurting stocks and bonds alike. Crypto market capitalization weekly chart. Source: TradingView Stablecoins not very stable A massive move lower from $69,000 in November 2021 to around $24,300 in May 2022 in Bitcoin’s (BTC) price has caused a selloff frenzy across the crypto market. Unfortunately, the bearish sentiment has not even spared stablecoins, so-called crypto equivalents of the U.S. dollar, which have been unable to stay as “stable” a...
Crypto mining stocks crash as the market continues bleeding heavily
Bitcoin is down 13% in the last 24 hours, extending a bearish run that has wiped almost 30% of its value over the last seven days The massive-sell off has been felt by Bitcoin mining companies whose stock has registered declines Terra’s collapsing ecosystem has been the biggest headline in the crypto sector, but it isn’t the only crypto entity that has been affected by the market downturn. Its native token LUNA crumbled after continued losses totalling 98% in the last 24 hours. Its related stable coin, TerraUSD, has suffered a similar fate – down to $0.4711 against the dollar. Bitcoin is faring badly itself but is much better than Ethereum and many other altcoins. The flagship asset today fell below $28,000 – a low it hasn’t visited since December 2020. Notably, the latest b...
De-pegged UST sends LUNA tumbling: Token price down almost 95% in the last 24 hours
LUNA has seen an extended downturn as investors rush to sell off The token has lost more than 90% on the day, sinking below $2.00 Crypto markets are seeing the worst of volatility caused by their correlation with stock markets, which are, on the other hand reacting to the US Federal Reserve’s aggressive monetary policy against inflation. However, some are feeling the pinch more than others, and the Terra ecosystem is one such network as it is barely holding on for survival in this bear market. Terra’s LUNA token has seen a large-scale sell-offs as holders rush to cut their losses and dump the asset. This comes after the LUNA/USD pair plunged to single-digit figures – a month after hitting as high as $120 in early April. CoinMarketCap data shows that LUNA is trading below at $2.0...
Ethereum (ETH) and Terra (LUNA) favoured by a popular Real Vision Bot
The Real Vision hive mind bot is popular for outperforming the combined top 20 crypto assets by more than 20% Terra’s LUNA regained the top spot as the most heavily weighted digital asset Real Vision’s Hive Mind bot, notorious for outperforming top crypto assets in the markets, has revealed the portfolio assessment for the week, and it finds Terra the most heavily weighted digital asset. The Real Vision Bot conducts surveys of traders to understand crypto-related data, which it uses to establish an algorithmic portfolio assessment based on Hive Mind. The latter is a consensus that determines to understand the general consciousness and behaviour of a group of people to determine what direction they might take next. This data-crunching bot was created jointly by quant analyst/ hedge fund exe...
ADA slips below LUNA and SOL, USDT holds onto the third-largest stablecoin rank
Cardano’s native token ADA has lost ground and is down to ninth in market capital rankings Terra’s USD stable coin surpassed Binance USD in market capital earlier this week The crypto market is calm on Wednesday morning, with the majority of the crypto assets posting gains between 2% and 5% on the day. Solana (SOL) and Terra (LUNA) are the notable altcoins in the top ten – both registering price increases of marginally over 5% in the last 24 hours. The two tokens have surpassed Cardano’s ADA in market capital rankings on the back of this ascent. Market data shows the latter has retreated to ninth with a circulating value of just over $32 billion. SOL and LUNA, on the other hand, have equivalent figures of $35.8 billion and $33.5 billion, respectively. Terra’s stable coin races past B...
Luno Secures 10-Million Customers in over 40 Countries
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Tables turn as shorts suffer in the wake of Bitcoin reclaiming $40k
Monday’s slump saw over $470 million in long bets wiped away from the market In the last four hours, the majority of the liquidations have been from traders betting on prices declining Bitcoin price fell below $40k early on Tuesday for the first time since March 16 as the market underwent further correction. Altcoins felt the pinch as well, with their prices sliding even further than they did on Monday. The premier alt, Ether, fell to a multi-week low of $2,958, CoinMarketCap data shows. Two contrasting strokes The crypto market has since slightly loosened, with Bitcoin climbing back to $40,210 where it was last spotted hovering. Ethereum’s native token has moved up to $3,020. This minor recovery has meant losses for traders betting on a continued downtrend. Data from Coinglass shows that ...
Bitcoin loses support above $42,000 as crypto markets turn red
Bitcoin is trading below $42k for the first time in almost three weeks Altcoins led by Ether have shed some of the gains from the rally at the end of March A sharp fall in the prices of the majority of the top cryptocurrencies on Monday has pushed the total crypto market capital below $2 trillion. The dip, which started late yesterday, continued overnight and has been the theme throughout the day. Red is the order of the day The market leader, Bitcoin, glided under $42,0oo earlier today and was last observed trading at $41,030. These figures reflect a downward movement of 3.7% on the day and 10.85% over the week. Market data shows BTC/USD hasn’t retouched the current level since March 22. Ether price has moved down 6.25% in the last 24 hours and the token appears likely to fall below $3,00...
Solana risks 35% price crash with SOL price chart ‘megaphone’ pattern
Solana (SOL) risks crashing 35% in the coming days as it comes closer to painting a so-called “megaphone” pattern. SOL price “megaphone” pattern In detail, megaphone setups consist of a minimum of lower lows and two higher highs and form during a period of high market volatility. But generally, these patterns consist of five consecutive swings, with the final one typically acting as a breakout signal. SOL has been sketching a similar pattern since the beginning of 2022, with the coin undergoing a pullback after testing the megaphone’s upper trendline near $140 as resistance — the fourth wing. As a result of the pattern, the Solana token could extend its decline to test the megaphone’s lower trendline as support near $65, about 35% below today’s pri...
