[ad_1] With the implosion of the LUNA coin, the Terra ecosystem was devastatingly hit within a few days in May 2022. The successor, Luna Classic (LUNC), currently once again surged in price. LUNC briefly rose to $0.00019439, registering a 20% price increase. At press time, the LUNC price showed a correction. However, LUNC was still at $0.00018 and showed a price increase of 11% over the last 24 hours. LUNC price, 4-hour chart. Source: TradingView The background for the sudden pump was the fact that Binance destroyed more than 6 billion LUNC in the sixth batch of the Terra Classic…
Author: Jake Simmons
[ad_1] The Bitcoin price has seen a minor rally after yesterday’s speech by US Federal Reserve chairman Jerome Powell. The price rose above $17,000, driven by the statement that smaller rate hikes are likely imminent and could begin in December. Ultimately, analysts see a 50 basis point hike in December almost a lock. The FED was merely trying not to make it look dovish, but it will come, was the tenor of the market. On Wall Street, the remarks were met with applause. The Dow Jones and the S&P500 saw a strong relief rally. This euphoria also spread to the…
[ad_1] It is no secret that Binance benefits from FTX’s insolvency. After the second largest exchange in the world went belly up, other exchanges had to divide FTX’s market share among themselves. And that Binance is one of the biggest winners now seems to be confirmed by recent data. The Block claims that Binance now has a 75% market share on the spot market, 8.5 times more than the second Coinbase. 🚨Binance now represents 75% of all exchange volume, and almost 8.5x that of the second (Coinbase) Good or bad for the ecosystem? pic.twitter.com/ykPisGn3W2 — Mario Nawfal (@MarioNawfal) November 30,…
[ad_1] The 69th largest cryptocurrency by market capitalization, Fantom (FTM), has shown relative strength over the past seven days, rising 29%. Over the past 24 hours, it even stands at a gain of 10%. Today’s surge comes after DeFi star programmer Andre Cronje published a Medium post about the “crypto company” Fantom, detailing its financial history. In the article, Cronje describes that Fantom started with $40 million, mostly in ETH with an average price of $450 to $700. Due to the crypto winter at the time, Fantom shad to sell its ETH for less than $5 million. After that, Fantom…
[ad_1] The downfall of FTX has also left its mark on the Ethereum (ETH) price. Over the last 30 days, Ether has recorded a drop of around 20%. At press time, the price was at $1,171, just above the crucial support level of $1,100. In the short term, the ETH price has found support at $1,171. However, if the key resistance at $1,230 is not breached in the next few days, a retest of the level at $1,100 could be on the cards. Ethereum price, 1-hour-chart. Source: TradingView An important on-chain indicator for Bitcoin indicates that this does not have to…
[ad_1] Several metrics currently suggest that the Bitcoin price is finally finding its bottom after another capitulation event, possibly triggered by the Genesis/ DCG/ Grayscale saga. This final miner capitulation may be imminent as miners are selling their BTC at the fastest rate since early 2016. In light of the new bear market low, some Bitcoin miners are currently going through arguably the most difficult time ever. The BTC price fell to a new bear market low yesterday at $15,478, putting it in no-man’s land. At the time of writing, Bitcoin was trading just above the low, at $15,678. Bitcoin…
[ad_1] The largest publicly traded Bitcoin miner in the U.S. by hash rate and mining fleet, Core Scientific (CORZ), issued a bankruptcy warning in a filing with the SEC on Oct. 26. Shortly thereafter, the stock took a nosedive. The stock plummeted from $1.02 to $0.22. While the CORZ stock was trading at $10.43 at the beginning of the year, it is now down 97% year-to-date. Notably, the Bitcoin price was unimpressed by the news. As NewsBTC reported, a Bitcoin miner capitulation is currently the biggest intra-market risk. Therefore, it is questionable whether the risk of a capitulation event is…