Crypto market
DeFi ‘Godfather’ Andre Cronje calls it quits as associated projects tank
Andre Cronje has officially left DeFi and crypto, with plans to move back into traditional finance Following the news, projects associated with the iconic DeFi builder plunged Founder of Yearn Finance Andre Cronje and technical advisor at the Fantom Foundation alongside his partner Anton Nell, a senior solutions architect at the Foundation, are leaving the crypto and DeFi scene. It had become apparent last week that Cronje, who quickly became an icon in DeFi with his yield optimisation protocol, was planning to leave since he cleared all of his Twitter activity, deactivated his profile, and updated his LinkedIn status to indicate he had left both Yearn Finance and Fantom Foundation. The exit of the two developers leaves a huge dent In a series of tweets, Nell explained that following their...
Bitcoin and Ether prices dip as crypto market turns red ahead of the weekend
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Crypto markets have inadequate liquidity to sustain sanctioned Russia, TRM Labs’ executive says
TRM Lab’s Ari Redbord expects Russia to turn to crypto to skirt the economic pressure of sanctions from the West However, the executive believes that crypto markets are not liquid enough to serve Russia’s financial demands In an interview with CNBC today, Ari Redbord, the Head of Legal and Government Affairs at blockchain transparency firm TRM Labs, has suggested that even though Russia may look towards cryptocurrencies to help navigate the wild effects of sanctions from the west, they just won’t cut it. As the US and its allies attempt to close Russia out of the dollar-denominated financial system, the crypto specialist theorised that he expects Russia to ultimately turn to cryptocurrencies. “Look, crypto provides an alternative to traditional financial systems. If...
Crypto markets clear $300M in liquidations, with a Theta trader losing $11M
More than 70,000 traders have been liquidated in the last 24 hours. A single trader’s loss has contributed to nearly 95% of all liquidations on the Theta network. Last Thursday, as Russia announced its “military operation” into Ukraine, Bitcoin and crypto markets dipped massively, with many traders going into panic. Recovery, however, didn’t take long as markets snowballed into the new week, led by Terra (LUNA). After blowing above its consolidation region of about $38,000, Bitcoin has been roaring upwards. It has gained more than 15% in the last 24 hours as it’s now trading $44,263, a spike of more than $10,000 in less than a week. The recent extreme fluctuations have resulted in massive liquidations across the sector Data from cryptocurrency futures trading ...
The current rally in the alt markets could be a bull trap, crypto expert warns
Widely-followed crypto analyst Crypto Capo has suggested that altcoin markets could collapse According to the crypto expert, Cardano (ADA) is obviously bearish Popular crypto strategist Crypto Capo has stated that he is not yet bullish on most altcoins, indicating that 99% of them are showing signs of a slump set to come soon. Addressing his Twitter following yesterday, the crypto trader spoke in retrospect to the recent upsurge in crypto markets crossing into the new month. Market leader Bitcoin cruised upwards of $43k, and as expected, several altcoins tagged along in growth. However, the pseudonymous crypto investor said that while altcoins undergo imminent market growth, the joy could be short-lived since they could well be leading investors into a bull trap. “Some people may think I’m...
Bitcoin closes in on $44k as crypto hype surges again
Crypto markets are recovering, with most tokens recording more than 5% in growth on the day Over the last few days, crypto has established a ‘haven’ status for both Russians and Ukraine Bitcoin marshalled altcoins across a generally positive Monday as the crypto markets recovered from the effects of Russia’s recent military action. The flagship cryptocurrency Bitcoin crossed $40k for the first time since 20th February. After only recently dipping to reach $34,904 as the markets crashed last Thursday, Bitcoin is now trading $43,775, a 16.1% growth in the last 24-hours. Its 24-hr volume sits at $28.70 billion, according to data from CoinGecko. Altcoin ecosystems have also seen significant growth in the same period. Smart-contracts giant Ethereum has gained 12.6% over the la...
Weekly Report: Crypto market maintains recovery run into the weekend
Key takeaways: The crypto sector has bounced back and seen some calm after Thursday’s crash that was set off by Russia’s invasion of Ukraine Animoca Brands’ Yat Siu believes BitsCrunch will play a significant role in the metaverse future NGO founded to support Ukraine military sees more than $5.3 million in crypto donations US court fines BitMEX founders who pleaded guilty to money laundering Coinbase forecasts that Ethereum staking rewards will rise significantly post-merge Terra’s native token LUNA leads altcoins in the market rebound Thursday morning’s news of Russia invading Ukraine sent the market hurtling, with many of the top cryptocurrencies nosediving. The crypto sector has since made a comeback and conserved the uptrend. Bitcoin (BTC) is up 1.08% in ...
FTX CEO speaks on market crisis amid the Russian invasion of Ukraine
Sam Bankman-Fried said Eastern European countries could consider Bitcoin an alternative to their destabilised currencies He also explored the contrasting positions between fundamental and algorithmic investors Early Thursday, reports of invasion into Ukraine by Russia’s military led Bitcoin and other crypto markets tumbling. Stock markets also fell along with cryptocurrencies as Russia started what President Putin called a demilitarisation operation in Ukraine. In a recent Twitter thread, FTX CEO Sam Bankman-Fried has shared his view on the massive correction that crypto markets saw. According to data provided by CoinMarketCap, Bitcoin fell as low as $34,459. Markets have recovered to some extent and the ticker is currently trading at $35,482. Conflicting sentiments on Bitcoin&#...
Ethereum’s rejection off its bull market support band could mean an extended bear market
Benjamin Cowen, a popular crypto analyst, has expressed bearish sentiment on Ethereum The crypto strategist has predicted an extended period of market correction for the native token of the top smart contract platform Speaking in a video published on his YouTube channel on Monday, Cowen reviewed Ethereum’s recent behaviour around the bull market support band. He observed that Ethereum faced rejection at the support band, arguing that its price is becoming a cause for concern. The bull market support band is a moving average indicator that integrates the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). Ethereum did not even actually reach the 21-week exponential moving average before it resumed the slump, which the crypto strategist labelled a show...
Ethereum to $10K? Classic bullish reversal pattern hints at potential ETH price rally
Ethereum’s native token, Ether (ETH), could reach above $10,000 in the coming weeks as it paints what appears to be an “ascending triangle” technical pattern. Ether’s price technicals: Bullish signs Ascending triangles are bullish continuation setups that appear during an uptrend. Analysts confirm their presence after the price rises upward inside a rising right-angle triangle structure, thus forming a sequence of lower highs on the lower trendline with resistance in place at the upper one. As the pattern develops, volumes typically drop. So far, Ether has been forming a similar upside pattern on its weekly chart. In detail, the triangle’s lower trendline has been acting as an accumulation range since the beginning of 2021, with high selling pressure at the upper trendline, as shown b...
Market crash sees ADA fall to a multi-month low, DOT and AVAX drop out of the top ten
The price of Cardano’s native token ADA sank to $0.82 after enduring more losses today Binance USD has moved to 9th in market capital, displacing Avalanche and Polkadot that have suffered heavy losses today Cryptocurrencies are trading in the red on Tuesday as the bloodbath persists on account of the growing tensions between Russia-Ukraine. Market data shows that only Terra’s LUNA has registered a green candle in the last few hours. Bitcoin dropped below $36,500 earlier today for the first time since 4th February, setting a multi-week low of $36,488 as per CoinMarketCap. Though the OG cryptocurrency has since steadily climbed back to $37,600 as of writing, it is still down 2.85% in the last 24 hours. The current Bitcoin price means it has shed almost 14% in one week. Ether has ...
Glassnode theorises an extended BTC bear market, points to on-chain metrics
Analytics firm Glassnode says sizeable investor losses and recency bias are likely to sustain a prolonged bear market Despite the currently unimposing number of daily active users, Glassnode notes that long term hodlers are increasing linearly in the long term In its February 21 newsletter, blockchain data and intelligence provider Glassnode has suggested that Bitcoin investors are seeing a significantly growing number of motivations to sell their holdings. As volatility pushed Bitcoin to either side of the $40k psychological support last week, it peaked close to $45k but eventually closed nearer $38k. The blockchain analytics firm observed that external factors, including anticipation of the Fed’s March meeting and geopolitical issues globally, are cause for the dwindling price leve...
