Markets
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...
Solana TVL and price drop 50%+ from ATH, but gaming DApps could turn the tables
2022 has not been a good start for cryptocurrencies and to date, the total market capitalization has dropped by 21% to $1.77 trillion. Solana’s (SOL) correction has been even more brutal, presenting a 48.5% correction year-to-date. Solana (blue) vs. Ether (orange), AVAX (purple), BNB (yellow). Source: TradingView Solana leads the staking charts with $35 billion in value locked, which is equivalent to 74% of the SOL tokens in circulation. Multiple reasons can be identified for the underperformance, including four network outages in late 2021 and early 2022. The latest incident on Jan. 7 was attributed to a distributed denial-of-service (DDoS) attack, causing Solana Lab developers to update the code and consequently reject these types of requests. However, investors are more concerned ...
Altcoin Roundup: JunoSwap, Solidly and VVS Finance give DeFi a much-needed refresh
Decentralized finance (DeFi) was the talk of the town in early 2021, but it has since taken a back seat to more appealing sectors like nonfungible tokens (NFTs), memecoins and blockchain gaming. Now that cross-chain bridges and interoperability have allowed for the easier migration of assets to competing chains, a new class of DeFi protocols is arising to challenge those left from 2021. Here’s a look at three DeFi projects that have launched on some of the up-and-coming layer-1 blockchain networks, catching the eye of the crypto community. VVS Finance VVS Finance is the largest DeFi protocol on the Cronos network, a project that emerged out of the Crypto.com ecosystem which has since been fully rebranded to Cronos (CRO). The goal of VVS Finance is to offer instant swaps with low fees...
REN price gains 65% after Catalog launch brings a cross-chain DEX to its blockchain
Decentralized finance projects like Ren pumped in 2021, only to finish the year right back where they started as high fees on Ethereum (ETH) led to decreased activity for many protocols and DeFi took a backseat to more popular sectors like nonfungible tokens (NFTs). Now, it appears as though that downtrend is in the process of reversing course after recent global events highlighted the benefits of DeFi and holding assets outside the traditional financial system. This week REN price climbed 69% from a low of $0.247 on Feb. 24 to a daily high of $0.418 on March 3. REN/USDT 4-hour chart. Source: TradingView Three reasons for the potential price reversal in REN are the launch of its first layer-one application Catalog, the launch of VarenX on Polygon and several new partnerships and inte...
Bitcoin slides under $39K, leading some traders to forecast a weekend ‘oversold bounce’
March 4 saw another day of seesaw price action for Bitcoin (BTC) and the wider cryptocurrency market as the global economic fallout from the ongoing conflict in Ukraine weighs heavily on a majority of the world’s financial markets. Data from Cointelegraph Markets Pro and TradingView shows that after holding $41,000 in the early trading hours on March 4, a wave of selling in the afternoon dropped the price of BTC below $39,100. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts have to say about the outlook for BTC moving forward as the world faces a period of increased economic uncertainty. A potential retest of $38,000 BTC/USD 1-week chart. Source: Twitter According to Rekt Capital, $43,100 is an important level for BTC because the last time Bitcoin clo...
Bitcoin and Ether prices dip as crypto market turns red ahead of the weekend
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Analysts say bulls will aim for $48K now that Bitcoin’s ‘accumulation phase’ has begun
Investor sentiment across the cryptocurrency ecosystem has seen a significant shift in the positive direction over the past week, despite events in the wider world. Currently, Bitcoin (BTC) is back above $43,500 and many altcoins are also witnessing double-digit gains. Crypto Fear & Greed index. Source: Alternative The ongoing conflict in Ukraine and recent actions taken by governments to limit access to banking services may have helped to shine a light on the value of holding cryptocurrencies, which offers some protection against uncontrollable events and what some might perceive as government overreach. Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC has oscillated between $43,350 and $45,400 on March 2 as the world awaits some form of resolution to th...
GARI is listed on CoinDCX, India’s leading crypto exchange
One of the world’s most popular social tokens has announced its listing on CoinDCX, CoinText learned from a press release. The listing will provide GARI’s more than 10 million Indian users with another way to access one of the biggest projects running on Solana. Increasing liquidity The listing will also increase GARI’s liquidity and promote its penetration into the wider global communities. The token was listed specifically to cater to the demands of innumerable creators all over the world. GARI is also listed on Kucoin, MEXC, Bitmart, Zebpay, Huobi and FTX. What is GARI? GARI is the native token of Chingari, known as the Indian TikTok. This is a short-video app that has become very popular not only in India, but all over the world. Chingari makes it possible for short-form video creators...
3 reasons why Waves price gained 100%+ in the last week
Development never stops in the blockchain sector and projects that continuously evolve are the ones that stay at the forefront and survive over the long-term. One project attempting to stay on top of the innovation wave is Waves, a multi-purpose blockchain protocol designed to support a variety of use cases, including decentralized applications and smart contracts. Data from Cointelegraph Markets Pro and TradingView shows that the price of WAVES has rallied 120% since forming a double bottom at $8.28 on Feb. 22. WAVES/USDT 4-hour chart. Source: TradingView Three reasons for the price growth for WAVES are the recent announcement that the protocol will migrate to Waves 2.0, a partnership with Allbridge that will connect Waves with other popular blockchain networks and the upcoming laun...
Rune’s upcoming mainnet launch and Terra (LUNA) integration set off a 74% rally
2021 was a roller coaster of a year for THORChain (RUNE), which saw its price top out at $20.31 only to come crashing down below $4 as a series of hacks and declining interest in decentralized finance had the token limping into 2022. Data suggests that investors could be taking a closer look at Rune and a few potentially bullish factors could include the protocol’s recent integration with the Terra and Cosmos ecosystem, an upcoming mainnet launch and the attractive yields offered to liquidity providers. RUNE/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $3.00 on Feb. 24, the price of RUNE has rallied 74.2% to a daily high at $5.23 on March 1 amid a 388% surge in its 24-hour trading volume. Rune integrates ...
Here’s a clever options strategy for cautiously optimistic Bitcoin traders
Bitcoin (BTC) entered an upward channel in early January and despite the sideways trading near $40,000, order book analysts cited “significant buying pressure” and noted that the overall negative sentiment might be heading towards exhaustion. Bitcoin/USD price at FTX. Source: TradingView Independent analyst Johal Miles noted that BTC’s price formed a bullish hammer candlestick on its daily chart on Jan. 24 and Feb. 24, hinting that the longer-term downtrend is close to an end. However, the rally above $41,000 on Feb. 28 was unable to create strong demand from Asia-based traders, as depicted by the lack of a China-based peer-to-peer Tether (USDT) premium versus the the official U.S. dollar currency. Currently, there is positive news coming from the...
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 ...
