Markets
Uplift DAO partners with MoonPay to make it simpler to invest in Web3 projects
Uplift DAO, a cross-chain Launchpad that offers crowdfunded support for Web3 projects, has announced that it is integrating MoonPay to simplify the process of investing in Web3 projects. After the integration, Uplift DAOP users will find it easier to invest in new and exciting Web3 projects through traditional payment methods like bank transfers. The partnership will offer a major breakthrough to one of the main barriers for investors who want to invest in Web3. Growth Lead at Uplift, Irina Berezina, said: “At Uplift DAO one of our core missions is to lower the barrier of entry to Web3 investment opportunities, whilst simultaneously raising the standard of usability for our users. By integrating MoonPay onto our platform, this is a key step towards web3 scalability not only for us as an ID...
5 altcoins that could be ripe for a short-term rally if Bitcoin price holds $19K
The S&P 500 and the Nasdaq Composite fell to a new year-to-date low last week and closed the week with a loss of 1.55% and 3.11%, respectively. The scenario changed drastically on Oct. 17 after the earnings, season ramped up and a sharp policy reversal from U.K. Finance Minister Jeremy Hunt added detail to the government’s plan to fix his predecessor’s (Kwasi Kwarteng’s) fiscal package, which had triggered a record fall in the value of the GBP and a near liquidation of pension plans in the United Kingdom. At the time of writing, the Dow is up 1.78%, while the S&P 500 and Nasdaq present 2.57% and 3.26% respective gains. Meanwhile, Bitcoin (BTC) has managed to stay well above its year-to-date low showing short-term outperformance. Some analysts expect that Bit...
2 key Ethereum price indicators point to traders opening long positions
Ether (ETH) price has been unable to close above $1,400 for the past 29 days and it has been trading in a relatively tight $150 range. At the moment, the $1,250 support and the $1,400 resistance seem difficult to break, but two months ago, Ether was trading at $2,000. The current price range for Ether simply reflects how volatile cryptocurrencies can be. From one side, investors are calm as Ether trades 50% above the $880 intraday low on June 18. However, the price is still down 65% year-to-date despite the most exciting upgrade in the network’s sev-year history. More importantly, Ethereum’s biggest rival, BNB Chain, suffered a cross-chain security exploit on Oct. 6. The $568 million exploit caused BNB Chain to temporarily suspend all transactions on the network, which holds $5...
Grayscale BTC Trust trades at a record 36.7% discount, but is it justified?
U.S. investors have been waiting for a Bitcoin exchange-traded fund (ETF) approval since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request at the Securities and Exchange (SEC). Over the years, the SEC has rejected every applicant and the latest denial was issued to WisdomTree’s application for a spot Bitcoin ETF on Oct. 11. The SEC concluded that the offer did not have the ability “to obtain information necessary to detect, investigate, and deter fraud and market manipulation, as well as violations of exchange rules and applicable federal securities laws and rules.” Bitcoin investment trust vehicles have existed since 2013, but they have been restricted to accredited investors. Launching a spot-based BTC ETF would open the market to retail investors and a broader ...
Price analysis 10/14: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC
The United States Consumer Price Index (CPI) increased 8.2% annually in September, beating economists’ expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp, but short-term increase in volatile risk assets. The S&P 500 oscillated inside its widest trading range since 2020 and Bitcoin (BTC) also witnessed a large intraday range of more than $1,323 on Oct. 13. However, Bitcoin still could not shake out of the $18,125 to $20,500 range in which it has been for the past several days. Daily cryptocurrency market performance. Source: Coin360 Both the U.S. equities markets and Bitcoin tried to extend their recovery on Oct. 14 but the higher levels attracted selling, indicating that the bears have not yet given up. Could the increased volatility culminate wit...
Bitcoin traders were ready for a hot CPI report, but BTC bears are still in control
Cryptocurrency traders were caught by surprise after the Oct. 13 Consumer Price Index Report showed inflation in the United States rising by 0.6% in September versus the previous month. The slightly higher-than-expected number caused Bitcoin (BTC) to face a 4.4% price correction from $19,000 to $18,175 in less than three hours. The abrupt movement caused $55 million in Bitcoin futures liquidations at derivatives exchanges, the largest amount in three weeks. The $18,200 level was the lowest since Sept. 21 and marks an 8.3% weekly correction. Bitcoin/USD 1-hour price. Source: TradingView It is worth highlighting that the dip under $18,600 on Sept. 21 lasted less than 5 hours. Bears were likely disappointed as a 6.3% rally took place on Sept. 22, causing Bitcoin to test the $19,500 resi...
Bitcoin derivatives data reflects traders’ belief that $20K will become support
Bitcoin (BTC) showed strength on Oct. 4 and 5, posting a 5% gain on Oct. 5 and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions and it led some traders to predict a potential rally to $28,000. $BTC #Bitcoin Shared this descending channel 2 days ago.$BTC has managed to break through the middle line.Next target = Upper channel trendline = ~21.5k. In case of a breakout, 28k-30k are possible. pic.twitter.com/dyqMLdcXZ4 — ⓗ (@el_crypto_prof) October 4, 2022 As described by Moustache, the descending channel continues to exert its pressure, but there could be enough strength to test the upper channel trendline at $21,500. The price action coincided with improving conditions for global equity markets on Oct. 4, as the S&P 50...
Middle East and North Africa are fastest-growing crypto markets: Data
Emerging markets continue to forge their way into the crypto scene finding a plethora of use cases, especially in the combined Middle East and North Africa (MENA) region. A new report from Chainalysis reveals that the crypto market in the MENA region is the fastest growing in the world. Transaction volume in the MENA region reveals users received $566 billion in crypto in the time frame of July 2021 to June 2022. This is 48% more than the previous year. MENA is followed by Latin America and North America with a growth of 40% and 36%, respectively. This region is made up of approximately 22 countries which include emerging markets such as Morocco, Egypt and Turkey. In these countries, the usage of cryptocurrencies finds practical use cases in savings preservation and remittance payments. In...
A crumbling stock market could create profitable opportunities for Bitcoin traders
Some of the biggest companies in the world are expected to report their 2Q earnings in October, including electric automaker Tesla on Oct. 18, tech giants Meta and Microsoft on Oct. 24, Apple and Amazon on Oct. 26 and Google on Oct. 30. Currently, the possibility of an even more severe global economic slowdown is in the cards and lackluster profits could further add to the uncertainty. Given the unprecedented nature of the United State Federal Reserve tightening and mounting macroeconomic uncertainties, investors are afraid that corporate profitability will start to deteriorate. In addition, persistent inflation continues to force businesses to cut back on hiring and adopt cost-cutting measures. Strengthening the dollar is particularly punitive for U.S. listed companies because their produ...
What remains in the NFT market now that the dust has settled?
Over the last two years, nonfungible tokens (NFTs) have emerged as one of the most active and noticeable aspects of Web3. The data stored on blockchains by NFTs may be connected with files that include various forms of media, such as photographs, videos and audio. In certain instances, it can even be related to physical items. The owner of an NFT will often have ownership rights over the data, material or item connected with the token, and these tokens are typically purchased and traded on specialized markets. The rise of NFTs was meteoric in 2021, but it hasn’t been very steady since then, and it seems to have fallen sharply in 2022. Why NFTs exploded in popularity in 2021 In 2021, two of the most active markets for NFTs were collectible art projects and the video game industry. NFT...
Next few weeks are ‘critical’ for stock market and Bitcoin, analyst says
The stock market’s movements in the next few weeks will be critical for determining whether we are heading towards a short-term recession or a long term-one, according to forex trader and crypto analyst Alessio Rastani. During the October-December 2022 period, the analyst expects to see the S&P rallying. “If that bounces or rally fails and drops back down again, then very likely, we’re entering a long-term recession and something very close to similar to 2008”, said Rastani in the latest Cointelegraph interview. [embedded content] According to the analyst, such a recession could last until 2024 and would inevitably negatively impact the price of Bitcoin (BTC). Talking about the latest Pound sterling crisis, Rastani opined that its principal cause is the rally of...
Price analysis 9/30: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT
The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite have declined for three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track to record its worst September since 2002. These figures outline the kind of carnage that exists in the equities market. Compared to these disappointing figures, Bitcoin (BTC) and select altcoins have not given up much ground in September. This is the first sign that selling could be drying up at lower levels and long-term investors may have started bottom fishing. Daily cryptocurrency market performance. Source: Coin360 In the final quarter of the year, investors will continue to focus on the inflat...
