Crypto market
Altcoins Back in The Green: SOL and LUNA Leading the Comeback
The cryptocurrency market has painted a picture of green into the new week in what is seemingly a trend for February This is the third week that the market has started strongly – last week, the market embarked on an uptrend on Tuesday Bitcoin and Ethereum recover Bitcoin, whose price plunged to a 24-hour low of $38,112 over the weekend, has bounced back and is currently trading at $39,025 against the dollar. Despite seeing a positive 2.01% 24-hour change, the coin is still down over 7.40% in the last seven days. Ethereum’s native coin has similarly bounced from a dip to a weekend low of $2,585.95 posted during yesterday’s trading session. Though Ether is still trading below $2,800 ($2,715) – it has seen approximately 3.33% of gains in the last 24 hours as per CoinMarketCap data. Here’s a l...
Ethereum whales are bullish on meme coin Shiba Inu, on-chain data shows
Shiba Inu ownership among the top 1000 Ethereum whales only lags Ether’s The whales are riding the wave of increased adoption of the meme token Shiba Inu investments by top Ethereum investors have been growing. The token has frequently appeared on previous occasions as the asset with the top holding (besides ETH) among the top 1000 Ethereum whales. On-chain monitoring tool WhaleStats yesterday observed that the whales’ holdings in Shiba Inu had once again crossed $2 billion. Shiba Inu, FTX tokens and USD Coin on the radar of Ethereum whales With the exact Shiba Inu ownership raking up as much as $2,761,646,130 (18,260,127,622,912 tokens) in value, this contributed to 23.01% of their portfolios ranking first among in all crypto holding excluding Ethereum. Though this figure has ...
Here’s why crypto analyst Nicholas Merten believes Bitcoin is prime to surge
Crypto analyst Nicholas Merten has said Bitcoin not falling below $30k was a better price-performance than anticipated Merten also predicted Bitcoin price could reach $200k by November Crypto analyst Nicholas Merten has reviewed his Bitcoin price targets, evaluating the path the world’s largest digital asset is likely to follow in the coming months. Speaking during a recent episode on his YouTube channel, Merten observed that Bitcoin’s progressive fall from an all-time high of 69k last November to less than half that price point (as low as $33,500) towards the end of January was not as bad as it could have gotten. The DataDash host observed that the token could have plunged below $30k, but traders have increasingly begun buying the dip much faster. He explained that traders are...
India’s social media giant Chingari debuts an in-app crypto wallet
Chingari, the TikTok rival that launched its native $GARI token last month, is bringing more integrations onboard The giant social media platform has debuted its integrated-token wallet and plans to unveil an NFT marketplace soon India’s short video platform, Chingari, has revealed it is integrating its native $GARI token and an associated Solana wallet into the social media app. The $GARI token had already launched to 500 community members in the beta testnet at the end of last year. This was followed by the token debut on the global stage to international traders last month. Growth through incentivising content Chingari hopes to foster an expanding in-app economy which would open many innovative doors on the social media platform. Users can withdraw or deposit tokens effortlessly v...
ETH addresses with large balances are paring down their holdings, analyst observes
IntoTheBlock analyst Juan Pellicer has reviewed the distribution of Ethereum between long-term and short-term holders in his latest piece for CoinMarketCap, the analyst also assessed the impact of the distribution in the market In an analysis post centred around ‘Who has been buying the last dump,’ research analyst Juan Pellicer noted that the long-term holders have chiefly taken the accretion path even as distribution from fat-cat holders continues. Analysis based on the ‘Balance by Time Held‘ metric As per the data presented by the analyst, Ether hodlers collectively have 52.39 million ETH in their wallets thus far. This group (investors who have held ETH for over 12 months) has the biggest Ethereum balance and accounts for 44.51% of Ethereum holders. It...
The crypto industry is still nascent and poised for hyper-adoption, says Wells Fargo
Wells Fargo has advised investors that it is not too late to put their money into crypto The bank is likening crypto’s adoption rate to the internet in the mid-to-late 90s The bank, however, disapproves investment via crypto exchanges, mutual funds, and ETFs at the moment American financial services company Wells Fargo earlier this week said on a note to investors that it’s early but not too early to get into cryptocurrencies. Over the past dozen months, crypto assets have seen it all – from the highest peaks to extreme volatility. Several coins bloomed during the crypto summer, and the sector’s market cap grew from just under $1 trillion to $3 trillion. This rapid industry growth has primarily been attributed to the increasing number of users joining the sector. Still, F...
Bitcoin hasn’t bottomed yet, Bloomberg’s McGlone says
Commodity strategist Mike McGlone has said that Bitcoin will survive the current market forces He, however, noted that it is very likely the flagship cryptocurrency hasn’t hit its lowest thus far Bloomberg Intelligence’s senior commodity strategy has delivered another bullish projection on the leading cryptocurrency. In a tweet sent out today, the commodity expert noted that Bitcoin is showing divergent strength against stocks but warned that the asset hasn’t reached the bottom. He reckons that the crypto asset will sink to its bottom when the stock market pulls a similar move. McGlone, who has previously predicted Bitcoin to touch $100,000 by the end of the year, also observed that many traditional assets are currently enduring deflationary forces resulting from the stat...
Superfluid’s vesting contract for QI hacked, funds on QiDao contracts unaffected
The hack on Polygon stablecoin QiDao comes barely a day after Polygon Network completed a $450 million private token sale QiDao protocol shared an update, confirming that user funds on QiDao contracts are safe Mai Finance creator QiDao has been exploited to a tune of $13 million. The Polygon’s native stablecoin protocol shared a Twitter post a few hours ago revealing that its Superfluid vesting contract had been compromised. “Superfluid’s vesting contract for QI has been exploited. User funds on QiDao contracts remain safe. The exploit is solely on Superfluid. We will release an update when we know more,” QiDao wrote. The team sent a quick update via a follow-up post detailing that the situation was still under assessment. The update also specified that no user fund...
Shiba Inu leading Dogecoin in gains, SHIB up over 23% on the day
The crypto market is once again showing signs of a fresh run on Monday morning Almost all coins are trading in the green with decent gains in the past 24 hours Bitcoin and Ethereum trading on solid grounds Bitcoin is currently swinging at around $42,700 and based on market sentiment; it could make an attempt at $43,000 early this week. Ether cleared resistance at $3,000 at the start of the weekend on the back of an end-week rally. The native token on Ethereum is currently trading at $3,076.05, having gained 2.45% in the last 24 hours. Shiba Inu leads the meme-coin chart with over 23% gains Notably, Shiba Inu has posted the biggest swell among the top 20 crypto assets by market capital. SHIB has gained a whopping 23% in the last 24 hours and is trading at $0.00002792. The meme coin tanked t...
Axie Infinity token AXS gains 40% after taking steps to avoid ‘permanent economic collapse’
The price of the Axie Infinity (AXS) token has surged by nearly 40% in three days. AXS rallied to over $65, its best level in more than two weeks, as Axie Infinity revealed a revamped reward structure for its player-vs-player (PVP) competition round. In detail, the play-to-earn startup expanded its number of leaderboard slots to 300,000 and boosted the amount of AXS rewards to 117,676 from the earlier 3,000 for the next season. “This will supercharge the competitive Axie scene and create more demand for quality Axie teams in the ecosystem,” Axie Infinity explained, adding that their move would create a $6 million worth of prize pool for Season 20. AXS/USD daily price chart. Source: TradingView Economic revamp boosts AXS demand AXS serves as a governance token for the Axie ...
Crypto specialist panel says Bitcoin could hit 400k by 2030
Finder’s recent price prediction report shows that a panel of specialists has predicted Bitcoin to rise and peak at $93,700 this year. However, the Fed’s plan to hike interest rates would affect this price, causing it to fall to $76,400 as the year ends. According to a Bitcoin price prediction report by Finder, a panel of experts in areas including NFTs, FinTech and crypto has issued its predictions on where the price of Bitcoin is headed in the future. The panel, which included 33 specialists, is foreseeing that the world’s largest digital asset would peak at around $93,700 before plunging to $76,400 as the year comes to an end. In addition, the panel forecasted that in the year 2025, Bitcoin would be worth at least $192,800, and five years later, its value should be app...
Altcoin analyst calls Near Protocol a solid project, sees FTM bottoming at $1.50
The market has gained ground on Friday following yesterday’s pullback that halted the uptrend that started on Monday Fantom, alongside other altcoins, is seeing modest gains Crypto analyst Altcoin Sherpa has shared in a series of tweets his short-term predictions for Bitcoin (BTC), Fantom (FTM), and Near Protocol’s native token NEAR. Sherpa, an advisor for the decentralised cross-chain liquidity aggregator Atlas, has previously made a number of right calls on various alts. NEAR/USD NEAR posted an all-time high slightly above $20 just a little over two weeks ago. The surge was propelled by several factors, including Near Protocol’s successful completion of a $150 million funding round led by Three Arrow Capital. Since then, NEAR/USD has lost over 40% of its value and is currently trading at...
