[ad_1] The Bitcoin price is up 40% year-to-date (YTD) and has recaptured the $23,000 level. However, with ongoing concerns around DCG and Grayscale as well as macroeconomic uncertainties, many investors doubt the sustainability of the recent price rally. With higher prices, motivation among investors may be increasing to use the current price level to exit and gain liquidity, especially after the long and painful bear market in 2022, as Glassnode discusses in its report. The renowned on-chain analysis firm examines in its newest research whether Bitcoin’s recent bounce above the price it has last seen before the FTX collapse is…
Author: Jake Simmons
[ad_1] While the broader crypto market has been trending sideways in the past 24 hours following its stellar rally over the past two weeks, Shiba Inu (SHIB) is bucking the trend, posting a whopping 21% price. The trading volume of the meme coin has exploded by 150% to $810 million within the last 24 hours. A look at the 1-day chart reveals that the Shiba Inu price approached the lower end of the key resistance zone at $0.000013, but was rejected initially. At press time, SHIB was trading at $0.00001254, reaching the early November highs. To trigger a sustained bullish…
[ad_1] Ripple CTO David Schwartz voiced harsh criticism against the Flare Network in a series of tweets today. After more than two years following the snapshot for XRP holders, the project finally conducted its airdrop for the FLR token on Monday, January 9. As NewsBTC reported, the FLR token already experienced a massive dump of more than 71% on Bitrue in the run-up to the airdrop, where the token could already be traded as IOU. After that, things didn’t get much better and FLR dropped even further, totaling a loss of 93% since Sunday, January 8. At press time, FLR…
[ad_1] As the new week begins, the Bitcoin and crypto market is seeing a bounce that could provide new momentum. The Bitcoin price has managed to break above the resistance area of around $17,000 for the first time in three weeks and was trading at $17,226 (+1.6%) as of press time. Ethereum is up 3.6% over the last 24 hours and is trading at $1,309. However, the euphoria in the Bitcoin and crypto market is hanging by a thread this week, as two events, in particular, could determine how prices develop. On the one hand, things could already become volatile…
[ad_1] In an announcement today, Binance declared that based on recent reviews, it has decided to delist the Mithril (MITH), Tribe (TRIBE), Augur (REP) and Bitcoin Standard Hashrate Token (BTCST) tokens on December 22, 09:00 (UTC) and cease trading on all trading pairs. As stated in a blog post about the matter, Binance periodically reviews the standards for a listing on the exchange. If a token no longer meets that standard, “we will conduct a more thorough review and potentially delist it,” Binance declared. Factors in the review include the team’s commitment to the project, volume and quality of development…
[ad_1] Arthur Hayes, the co-founder of crypto derivatives platform BitMEX and Bitcoin pioneer, has spoken out about the current state of the market in an interview with Scott Melker. Despite the threat of a looming recession in the U.S., Hayes believes Bitcoin is in a bottom phase. According to him, the origin of the boom-and-bust cycle is the rampant monetary policy. “If we take a step back and look at why BTC went up so high because [… ] the biggest economy in the world printed the most money they’ve ever done. Obviously a lot of money flowed into crypto,”…
[ad_1] Ethereum (ETH) has failed to rise above key resistance at $1,300 despite rising around 4% over the past 24 hours. At press time, the second largest cryptocurrency by market cap was trading at $1,289. As the trading volume shows, the bulls and bears have woken up again. In the last 24 hours, the trading volume was $6.4 billion, which is about 31% higher than the previous day. ETH price, 4-hour chart. Source: TradingView Ethereum On-Chain And Social Metrics Show Uncertainty Analysis company Santiment has conducted an analysis of bullish and bearish signs in on-chain and social data for Ethereum…
[ad_1] The XRP price is currently bucking the general market trend and is recording a small gain of around 2% over the last 24 hours. What is noticeable are massive movements by whales over the past few hours. The cryptocurrency market is on shaky ground given the macroeconomic headwinds and the still not fully digested shock from the FTX collapse. However, XRP investors don’t seem to care at the moment. On the other hand, data suggests that possibly whales have played their part in this development. XRP Whales Surface As the popular cryptocurrency tracker Whale Alert reports, a total amount…
[ad_1] Polygon, an Ethereum layer-2 solution, has recently seen massive hype due to notable partnerships with major brands such as Starbucks, Mercedes, Meta, Reddit, eBay, Disney, and Adobe, among others. And the team led by Sandeep Nailwal, co-founder of Polygon, continues to work hard to keep that hype going. Via Twitter, Nailwal shared a massively bullish news today. He wrote: zkEVM passing 99.5% of Ethereum test vectors putting Polygon zkEVM at extremely high EVM-equivalence. This is also reflected in the dev experience where 1000s of solidity smart contracts have been deployed on zkEVM without any changes whatsoever. Running towards mainnet…
[ad_1] The Bitcoin price has currently stabilized strongly around the $17,000 mark. However, the price could face further headwinds in the coming days, as the VIX exposes. The VIX is a real-time volatility index from the Chicago Board Options Exchange (CBOE). It was created to quantify market expectations of volatility. In doing so, the VIX is forward-looking, meaning that it only shows the implied volatility of the S&P 500 (SPX) for the next 30 days. Basically, if the VIX value goes up, the S&P 500 will likely go down, and if the VIX value goes down, the S&P 500 will…