Category: Cryptocurrency News

Ethereum Classic (ETC) has followed the lead of its larger counterparts and posted some tremendous gains in the last couple of weeks. The token, which is an offshoot of the second-largest cryptocurrency, Ethereum, has been suffering due to the bear trend that has been plaguing the market. But as the sentiment has begun to turn, Ethereum Class (ETC) has emerged as one of the biggest winners of the last week. Ethereum Classic Adds 80% Ethereum Classic’s recovery in the last week has been nothing short of miraculous. Where other cryptocurrencies have been posting gains below 50%, the altcoin has surged more than 80% in the last 7 days alone. More specifically, Ethereum Classic (ETC) is up 83.505, according to data from Coinmarketcap. Related Reading | Bitcoin Marks One Month Of Negative Funding Rates, More Decline Incoming? This recovery has taken the price of the digital asset and catapulted it into the mid $20s. After spending most of last week trending around $14, the price is now up almost 100% in this time period. In the same vein, the total market cap of the cryptocurrency has climbed. It added more than $1 billion to its market cap in the last two days alone, to be sitting at its current level of $3.97 billion at the time of this writing. It is no surprise that the altcoin is surging at this time. It has always shown a tendency to follow the price movements of Ethereum. However, the margin by which it is surging above its predecessor has been wide, showing a deviation from this usual correlation. ETC market cap crosses $3 billion | Source: Market Cap ETC on TradingView.com ETC Is Not Done Yet The indicators for Ethereum Classic (ETC) point to more steam in the current rally. An example is the fact that the digital asset over the last couple of days. It has consistently closed in the green in the last three days, and the indicators point to another green close for ETC. Related Reading | Liquidations Cross $230 Million As Ethereum Barrels Past $1,400 Another daily close above $25 will likely see the price rally to $30 before the week is over. This will bring its recovery over the last one week to more than 100%. Its 100-day moving average is just under $27, so a cross to $30 would put it higher above this level, as well as higher than its year-to-date moving average. This will cement its bull trend over the next week. There is still significant sell pressure mounting up as investors are taking out some profit. However, support is forming at $25, which gives it a soft landing if it is unable to break the $27 resistance. Also, if Ethereum’s recovery continues, then support will continue to pour in for Ethereum Classic, pushing its price further. Featured image from The Coin Republic, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

PRESS RELEASE. Austrian Post, the national postal service of Austria, has announced the launch of its latest product called Crypto stamp art (CSA), which is based on the Ethereum blockchain. The shift to focus on going digital first is significant, since Austrian Post is a major player in the blockchain industry and have successfully sold […]

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The mobile-first cryptocurrency exchange recently received regulatory approvals to operate in Greece, Singapore and Dubai.

DotCom, Lehman Brothers, GFC, Covid Crash, snappy titles the media and the general public can grasp onto, and somewhat understand. What do we have at the moment, high inflation crash, Ukraine crash, Chinese housing potential meltdown, basically nothing. Something has to go, break, cease to exist, something with a snappy title. All the previous crashes…
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Hello guys ! I'm sorry if it makes no sense to you. But i've read quite a lot on SBTs and SSI. And i can't understand the difference. They both serve to prove identity, with : An Issuer (to issue the credential), an Holder, and a verifier. In both example, it's the same usecase, with…
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While a tentative date for The Merge has been pencilled in by developers, and even though it’s quite possible it could be delayed once again, Ethereum’s hashrate has dropped 26.26% during the last 45 days. 18.21% of the hashrate loss took place after June 30, as Ethereum’s global hashrate slipped from 1,190 terahash per second […]

The crypto market pushes upwards as Bitcoin, Ethereum, and other larger cryptocurrencies are turning critical resistance points into support. ETH’s price currently leads the market recovery as it records a 40% profit in the past seven days trading at $1,500. Related Reading | Solana Adds 70% More Shine – Can SOL Keep The Light Coming? On the other hand, BTC’s price is more conservative but has begun recording important gains. At the time of writing, BTC trades at $22,800 with a 14% profit over the same period and is on track to securing further gains. As a result of the bullish momentum, the Fear and Greed Index has broken out of its 74-day streak moving to extreme fear levels, according to a report from Arcane Research. Again, this confirms the profitability of taking long positions when this Index consolidates around those levels. As seen in the chart below, the Crypto Fear and Greed Index has returned to its Q1 2022 levels. This indicator plummeted in May when the price of Bitcoin broke below the $30,000 barrier and into a multi-year low at around $17,500. Despite the current bullish momentum, the Index is still gravitating in fear territory suggesting BTC, ETH, and the crypto market will need to follow the Index and reclaim its Q1 2022 prices before more market participants turn more optimistic. Arcane Research noted the following: While the sentiment is improving, the Fear and Greed Index remains deep in the fearful territory, and other viable sentiment indicators from the derivatives market suggest that market participants still exercise caution. The chart above suggests the sector is at a turning point as it pushes above 30 in the Crypto Fear and Greed Index. A break above these levels could confirm a change in the current market trend. Why The Crypto Market Could Seize This Window Of Opportunity In the short term, the crypto market has a chance to extend the bullish momentum. The factors pushing BTC and ETH into yearly lows seem to be mitigating. These include the U.S. Federal Reserve (Fed) trying to stop inflation by hiking interest rates. The financial institution has entered a blackout period, meaning its representatives won’t make public statements until the next Federal Open Market Committee (FOMC) meeting. Inflation, as measured by the Consumer Price Index (CPI), seems poised to slow down. As NewsBTC reported, this metric experienced a 40-year hike but might take a step back as oil, copper, and others trend to the downside. The CPI print relies heavily on the price of commodities. Related Reading | Polygon Price Explodes By 60% – Is MATIC Nearing $1 Target? The crypto market is also apparently receiving support from traditional equities. The two sectors have been correlated since the start of the downtrend, and thus BTC and other cryptocurrencies might benefit from stock bouncing to previous levels. #Stocks keep on pushing up, bringing #Bitcoin with it. When markets correct 70 to 90% you load up and trade the risk. Did it in March 2020 and been doing it again. Even just a relief rally is huge profits at this point. — IncomeSharks (@IncomeSharks) July 19, 2022