Markets
Ether bulls eye resistance at $3K as the network prepares to undergo ‘The Merge’
A new week in the cryptocurrency market has brought more of the same sideways price action that the wider ecosystem has experienced in recent months, as Bitcoin (BTC) continues to hold support near $41,000 while some analysts warn that high inflation and rising interest rates could see the top cryptocurrency fall to $30,000. On the altcoin front, Ether (ETH) appears to be showing some signs of life as noted by cryptocurrency analyst Willy Woo, who recently tweeted that “Ether [is] setting up to break upwards out of a very long term, 3.5-month bearish trend line.” Data from Cointelegraph Markets Pro and TradingView shows that the ETH price is now trading above support at $2,900, with bulls looking to make another run at breaking the $3,000 resistance after being firmly rejected a...
Price analysis 3/21: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) and most major altcoins are attempting to start the new week on a positive note by bouncing off their respective support levels. Goldman Sachs became one of the first major banks in the United States to complete an over-the-counter “cash-settled cryptocurrency options trade” with the trading unit of Michael Novogratz’s Galaxy Digital. This could encourage other major banks to consider offering OTC transactions for cryptocurrencies. It is not only select nations that are showing growth in crypto adoption. A report by cryptocurrency exchange KuCoin shows that crypto transactions in Africa have soared by about 2,670% in 2022. Bitcoin Senegal founder Nourou believes that Africa could continue its thousand plus percent growth rates in the next few years. Daily cryptocurrency marke...
ApeCoin retraces as Ethereum Classic maintains upward momentum into the new week
Ethereum Classic (ETC) and Algorand (ALGO) up more than 6% in the last 24 hours ApeCoin price has slid approximately 10% as the token struggles to find stability just above $10 The majority of crypto assets came off the weekend trading either around their support zones or slightly in the red. The market has remained a mix of green and red but a few alts have notably been caught in the extremes. Bitcoin hovering around $41k, Ethereum pushing to break above $3k Bitcoin, the largest cryptocurrency by market capital, has continued with its slow run in the last 24 hours, swinging around $41,300. A sharp fall of over $1,000 from a 24-hr high of 41,680 to $40,668 earlier today appeared to threaten the calm in the market but the flagship crypto managed to shake off the plunge and has since risen t...
Top 5 cryptocurrencies to watch this week: BTC, LUNA, AVAX, ETC, EGLD
Bitcoin (BTC) rose above $42,000 on March 19 but the bulls continue to face a strong challenge from the bears at higher levels. Although Bitcoin’s price has recovered from $37,578 on March 13, Cointelegraph market analyst Marcel Pechman highlighted that the long-to-short net ratio of top traders across three major exchanges shows that professional traders have not been buying aggressively. But while Bitcoin struggles at higher levels, select altcoins are showing strength. Twitter account BTCFuel anticipates that altcoins could be entering “the final leg up of the hype phase” and may peak in the Summer. Crypto market data daily view. Source: Coin360 Glassnode data shows that investors have withdrawn roughly 550,000 Ether (ETH) from centralized exchanges year-to-date. Due to the outflo...
Bitcoin rally hopes diminish as pro traders flip bearish, retail interest at 12-month lows
Bitcoin (BTC) has been trapped in a symmetrical triangle for 56 days and the trend change could last until early May, according to price technicals. Currently, the support level stands at $38,000, while the triangle resistance for daily close stands at $43,600. Bitcoin mining up, retail interest down Bitcoin/USD price at FTX. Source: TradingView The week started with a positive achievement for the Bitcoin network as the Lightning Network capacity reached a record-high 3,500 BTC. This solution allows extremely cheap and instant transactions on a secondary layer, known as off-chain processing. After cryptocurrency mining activities were banned in China in 2021, publicly-listed companies in the United States and Canada attracted most of this processing power. As a result, Bitcoin’s hash...
3 times in March that savvy crypto traders bought breaking news for the price of a rumor
As an old saying goes: Buy the rumor, sell the news. As a digital-native asset class, the prices of cryptocurrencies are clearly susceptible to market-moving news developments that instantly spread on the internet. Staying on top of bullish announcements can help crypto traders reap huge gains, but navigating the crypto news landscape can be daunting. Two major roadblocks get in the way: the abundance of potentially relevant information and the difficulty of making sure one is always among the first to learn the news that really matters. Extensive research shows that three types of crypto-related developments move digital asset prices most consistently: listings, staking announcements and big partnerships. This insight somewhat narrows down the scope of the developments that will most inte...
Fact or fiction? Did ApeCoin (APE) really drop by 80% since launch?
ApeCoin (APE), the governance token of the well-known Bored Ape Yacht Club (BAYC) NFT project was airdropped to BAYC and Mutant Ape Yacht Club (MAYC) owners at 8.30 am EST on March 17 and only eight hours after APE became tradable in the open market, it has already jumped to the 110th most traded token ranked by CoinGecko, totaling $900 million in trading volume across all tracked platforms. As one would expect, there were some volatile price movements minutes after the airdrop and headlines show the price of APE dropping 80% since its launch. This raises the question of whether the ordinary BAYC and MAYC owner could have sold APE at $40 instead of $14, which it is trading for at the time of publishing. Let’s take a look at APE’s price minutes after the airdrop was claimed and the token li...
Altcoin Roundup: Three layer-1 protocols see inflows amid choppy, volatile market conditions
Layer-1 (L1) protocols are the foundation of the decentralized application ecosystem, with the Ethereum network dominating the landscape in terms of the number of protocols launched on-chain and total value locked (TVL), followed by BNB Chain and Fantom. As the sideways market of 2022 drags on and serious projects use the time away from the frenzy of bull markets to work on development, several L1 protocols have been outperforming the field and making gains despite weakness in the wider crypto market. Here’s a look at three L1 protocols that are seeing growth in their decentralized finance (DeFi) communities and an influx of TVL on their networks. Waves Waves is a multi-purpose blockchain protocol that was originally launched in 2016 and has since undergone several transformations al...
Price analysis 3/18: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) is facing a challenging environment in 2022 due to the surging inflation and geopolitical turmoil. Although gold has outperformed Bitcoin year-to-date, Bloomberg Intelligence senior commodity strategist Mike McGlone believes that Bitcoin could make a strong comeback. McGlone expects the current circumstances to “mark another milestone in Bitcoin’s maturation.” Another bullish sign for the long term is that the Bitcoin miners have been increasing their Bitcoin holdings since 2021. Compass Mining founder and CEO Whit Gibbs said to Cointelegraph that Bitcoin mining companies are “taking more of a bullish approach to Bitcoin.” Daily cryptocurrency market performance. Source: Coin360 Terraform Labs founder Do Kwon said that its stablecoin TerraUSD (UST) will be backed by mor...
DEA launches Cookin’ Burger, fourth title within ecosystem
Digital Entertainment Asset Pte. Ltd. (DEA), a Singapore-based GameFi ecosystem, has launched Cookin’ Burger, its newest blockchain game. It is the fourth title and the first third-party game to be released within its PlayMining ecosystem, CoinText learned from a press release. Its beta version will be unveiled in May. A multitasking cooking game In this game, the user is a burger shop staff member. They take orders from customers and serve them properly and quickly to improve their restaurant’s reputation. DEA announced an NFT presale to celebrate the game’s launch. This will start on March 18 at 11:00 (UTC+8). Intuitive and straightforward gameplay The gameplay is straightforward and intuitive, with players subject to a specific learning curve. They can play and win re...
Elrond, Mechanism Capital invest in Itheum, $4M total raised
Elrond, Mechanism Capital, and other key entities in blockchain and crypto have made serious investments in Itheum, CoinText learned from a press release. These extend the earlier $1.5 million round funded by Morningstar Ventures, which incubated Itheum through Elrond’s Dubai Incubator. Itheum turns heads in crypto and blockchain space Among the other prominent VCs and investors are Ascensive Assets, Woodstock, MHC Digital Finance, Spark Digital Finance, Skynet EGLD Capital, and ZBS Capital. The new investments mark another significant milestone for the Itheum team. With this new support, Itheum has now raised a total of $4 million. This will allow the team to work on ownership and trade of personal data in the Metaverse. Mark Paul, founder of Itheum commented: It’s been an ex...
Mavia and Tribe Gaming join forces to promote esports-P2E fusion
P2E MMO strategy game Heroes of Mavia, which was developed by Skrice Studios, and Tribe Gaming announces an official collaboration, positioning the blockchain-based game as the leading esports-focused title in the P2E blockchain gaming space, CoinText learned from a press release. Tribe Gaming is leading esports organization Tribe Gaming is expanding its initiatives to include blockchain gaming with top mobile gaming creators and leading global mobile gaming teams, including a recent 2021 World Championship in Call of Duty: Mobile. Tribe branding to appear uniquely in-game Tribe’s branding will appear uniquely in Heroes of Mavia, where it acquired dozens of Legendary plots of land. These plots have the highest luck factor when eliminating challenges and the top locations on the Mavia map.&...
