Waves
The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell
An improving Tether discount in Asian markets and positive futures premiums for BTC and ETH suggest a slight recovery is in the making. The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Total crypto market cap, USD billion. Source: TradingView The June 10 consumer price index (CPI) report showed an 8.6% year-on-year increase and crypto and stock markets immediately felt the impact, but it’s not certain whether the figure will convince the U.S. Federal Reserve to hesitate in future interest rate hikes. Mid-cap altcoins dropped further, sentiment is still bearish The generalized beari...
Total crypto market cap risks a dip below $1 trillion if these 3 metrics don’t improve
The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging. To date, the total crypto market is down 43% in just two months, so investors are unlikely to celebrate even if the descending triangle formation breaks to the upside. Total crypto market cap, USD billion. Source: TradingView Regulation worries continue to weigh investor sentiment, a prime example being Japan’s swift decision to enforce new laws after the Terra USD (UST) — now known as TerraUSD Classic (USTC) — collapse. On June 3, Japan’s parliament passed a bill to limit stablecoin issuing to licensed banks, registered money t...
Neutrino Dollar breaks peg, falls to $0.82 amid WAVES price ‘manipulation’ accusations
Neutrino Dollar (USDN), a stablecoin issued through Waves-backed Neutrino protocol, lost its U.S. dollar-peg on April 4 amid speculations that it could become “insolvent” in the future. USDN plunges 15% despite WAVES backing USDN dropped to as low as $0.822 on Monday with its market capitalization also diving to $824.25 million, down 14% from its year-to-date high of $960.25 million. Interestingly, the stablecoin’s plunge occurred despite Neutrino’s claims of backing its $1-peg via what’s called “over collateral,” i.e., when the total value of Waves (WAVES) tokens locked inside its smart contract is higher than the total USDN minted, also called the “backing ratio.” Neutrino Dollar price performance in the last 24 hours. Source: Co...
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...
Bitcoin’s sub-$40K range trading and mixed data reflect traders’ uncertainty
The phrase “hindsight is 20/20” is a perfect expression for financial markets because every price chart pattern and analysis is obvious after the movement has occurred. For example, traders playing the Feb. 28 pump that took Bitcoin (BTC) above $43,000 should have known that the price would face some resistance. Considering that the market had previously rejected at $44,500 on multiple instances, calling for a retest below $40,000 made perfect sense, right? Bitcoin/USD at Coinbase. Source: TradingView This is a common fallacy, known as “post hoc” in which one event is said to be the cause of a later event merely because it had occurred earlier. The truth is, one will always find analysts and pundits calling for continuation and rejection after a significant price move. Usually ...
Which Terra-based coins have the most explosive potential? | Find out now on The Market Report live
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss which Terra-based coins you should be looking out for in 2022. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up, the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they debate which Terra-based coin has the most explosive potential. Will it be Bourgi’s pick of StarTerra, which capitalizes on blockchains’ biggest trends — play-to-earn, nonfungible tokens (NFTs) and staking — basically combining multiple multibillion-dollar industri...
Top 5 cryptocurrencies to watch this week: BTC, XRP, NEAR, XMR, WAVES
Bitcoin (BTC) plunged below $40,000 on March 4 and has been trading below the level throughout the weekend. Although the crypto price action has been volatile in the past few days, Glassnode data shows that institutional investors have been gradually accumulating Bitcoin through the Grayscale Bitcoin Trust (GBTC) shares since December 2021. Another positive sign has been that fund managers have not panicked and dumped their holdings in GBTC. This suggests that managers possibly are bullish in the long term, hence they are riding out the short term pain. Crypto market data daily view. Source: Coin360 Bloomberg Intelligence said in their crypto market outlook report on March 4 that Bitcoin may remain under pressure if the U.S. stock markets keep falling, but eventually, they expect crypto to...
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...
Morocco says Madrid seeks to ‘Europeanise’ its crisis with Rabat
Morocco’s foreign minister on Wednesday accused Spain of trying to turn a political crisis between the two countries into an EU problem by focusing on migration and ignoring the root causes. The row blew up in April after Spain admitted the leader of the Western Sahara independence movement, Brahim Ghali, for medical treatment without informing Rabat, which regards the disputed territory as its own. Morocco then appeared to relax border controls with Spain’s North African enclave of Ceuta on May 17, leading to an influx of at least 8,000 migrants. Since then Spain and Morocco have traded accusations of violating good neighbourliness, with Spain saying Morocco used the migrants while Rabat says Spain acted in connivance with “adversaries” of its territorial integrity. “Spain tries to Europe...
Governor Obaseki: No record of Indian coronavirus variant in Edo
Governor Godwin Obaseki of Edo State on Friday said there was no record of Indian COVID-19 variant in the state, as was speculated on social media. The governor stated this in Benin at a news conference to provide an update on COVID-19 response in the state. Mr Obaseki was represented by the Permanent Secretary from the state Ministry of Health, Osamwonyi Irowa. He said the federal government had on April 26, taken precautionary steps by restricting international travel from India, Brazil and Turkey to curtail COVID-19. “We as government have reached out to the Nigeria Center for Disease Control (NCDC) with regards to any Indian variant in Edo and the verified information reveals that the said sample was collected in January. “There is currently no update or report suggestive of any such o...
APC chieftain asks President Buhari to declare state of emergency on security
A chieftain of the All Progressives Congress (APC) in Ekiti State, Otunba Olusegun Agbalajobi, has called on President Muhammadu Buhari to urgently declare a state of emergency on security in the country. This, he said has become a child of necessity following the rising waves of kidnappings, killings, banditry, insurgency and other manifestations of insecurity bedeviling the country. Agbalajobi, in a statement titled, ‘Nigeria and its preponderance of insecurity’ issued in Ado-Ekiti on Tuesday, said declaring emergency on security would help to stem the rising waves of security challenges that are fast pushing Nigeria to precipice. He stressed that the worsening security situation in the country requires desperate and decisive measure in the best interest of Nigerians, hence, the need to ...
Clubhouse’s new direct payments let users pay creators
Social audio app Clubhouse will let all users pay other creators starting Monday. It’s the first monetization tool built right into the app. Clubhouse says it won’t take a cut of payments, meaning that creators get the entirety of what somebody sends them. Not everyone will be able to receive payments just yet, though; that will be rolling out in waves, “starting with a small test group,” Clubhouse says. To pay a Clubhouse creator who can receive payments, tap on their profile, then tap on the “Send Money” button, and then choose how much you send them. You’ll also have to pay a “small card processing fee” that goes to Stripe, which is Clubhouse’s payments processing partner. The first time to try to pay someone, Clubhouse will ask you to add a credit or debit card. The news of direct paym...
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