Category: Cryptocurrency News

While the crypto market had succumbed to the winter, there are some digital assets that have refused to be dragged down with it. These cryptocurrencies putting up a harder fight than even their larger counterparts have been able to keep their heads above water. Two weeks into the new month and most assets in the space are already in the red. However, the Mid Cap cryptocurrencies have barreled in the opposite direction. Mid Cap Index Takes The Lead The July market has not been a favorable one for investors. This is evident in the red figures plastered all across the charts. Bitcoin which has seen the most support recently has not been able to escape the onslaught either but there is a group of coins that have been able to turn it around for good. Related Reading | Bitcoin Daily Exchange Net Flows Shows Sell-Offs Have Not Subsided The Mid Cap Index is one comprised of coins that are ranked 11 to 50 on the market. These coins are those that have proven themselves over time and as a result, have built an impressive community behind them. Given this, they have been able to shoulder the bear market better than any other cryptocurrencies. While other indexes had been seeing negative returns, the Mid Cap Index is up 1.9% in the first two weeks of July. Mid Cap Index is in the green | Source: Arcane Research For comparison, bitcoin is down -0.2% since July started. The small cap index has done better than bitcoin in this regard but still remains in the red with -0.1% so far. As for the Large Cap Index, they have taken the largest hit in the market. These top 10 tokens have seen a combined -0.9%, the largest losses in the market. Crypto Market Leaders Despite the Mid Cap Index maintaining the most recovery during the bear market, the crypto market leaders have still retained their hold on the market. Bitcoin’s dominance over the market remains high and stablecoins have not been letting go of any of their market share either.  BTC dominance on the rise | Source: Market Cap BTC Dominance on TradingView.com The decline in bitcoin’s price did not in any way impact its dominance. In fact, bitcoin had added another 0.43% to its market dominance, mostly stealing this dominance off other large caps such as Ethereum and BNB. Its market dominance is now sitting at 43.78% at the time of this writing.  Related Reading | Cardano (ADA) Price Remains Low Despite Buzz Around Vasil Hard Fork In the same vein, stablecoins are maintaining a strong hold on their market dominance. They have acted as a safe haven for investors who are trying to escape the extreme volatility of the crypto market while not completely moving their funds out. USDT, USDC, and BUSD all added to their market dominance in the last week with 0.16%, 0.19%, and 0.06% gains in dominance in the same time period. As the week draws to a close, it is hard to pinpoint which index will win out for this week. One thing that is certain though is that there are bound to be more losses than gains as the weekend nears. Featured image from Inc. Magazine, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…  

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Data from DeFi Llama records a massive increase in the total value locked (TVL) of FluidTokens, a Cardano-based lending protocol. This blockchain deployed its smart contract capabilities in late 2021 and has been experiencing a spike in ecosystem growth as more projects are launched on mainnet. Related Reading | When Will The Extended Stretch Of Extreme Fear In Crypto End? According to DeFi Llama, the Cardano-based lending and borrowing platform has seen a 20% increase in its TVL for the past week and a 56,600% increase in its TVL during the past hour. FluidTokens managed to take the 7th position in terms of TVL with $24,200. This is far below the number one protocol in terms of TVL, WingRiders, which records $50 million, and the second protocol in the ranking, Minswap, which records $37 million. However, FluidTokens has been live for over a month and has been consolidating important partnerships which suggests the trend could extend. Via Twitter, the team behind the project announced a partnership with Eternl, a Cardano light wallet provider. The collaboration will allow users to access FluidTokens products “from any device”. In addition, the platform has been enabling liquidity for other Cardano projects. The platform will allow users to trade with Yummi Universe non-fungible tokens (NFTs), a popular project on this blockchain, and allow users to access a new use case: using their digital assets to obtain liquidity. Further data provided by DeFi Llama record a spike in token inflows and USD Inflows for FluidTokens over the past week. This spike in protocol activity could be related to the partnerships and collaboration announced during June and July. In the coming months, the protocol will enable a staking functionality for its native token FLUID and will consolidate sponsorships of DAO investment funds. By the end of the year, the platform will deploy additional functionalities to incentivize user activity further. Cardano Follows General Market Trend The Cardano ecosystem has been expanding at a fast pace and has generated a lot of attention due to its “Vasil” Hard Fork Combinator (HFC) event. At the time of writing, ADA’s price trades at $0.44 with a 4% profit in the last 24 hours and a 4% loss over the past week. The upcoming HFC “Vasil” will implement network updates and improvements to the Cardano blockchain. This should contribute to ADA’s price and bring bullish momentum to the cryptocurrency. Cardano has been trending to the downside more aggressively than other cryptocurrencies in the top 10 by market cap. This is probably motivated by the general risk-off sentiment across the crypto market. Related Reading | Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next? Data from Material Indicators records significant resistance for ADA’s price as it climbs from its current levels. There are over $2 million in asks orders poised to operate as major resistance. If the cryptocurrency can surpass this level, it will find resistance at around $0.50.

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During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto […]

The bear market in Bitcoin and altcoins has had a negative impact on staffing levels at major crypto companies, including exchanges, lending platforms and marketplaces.

This isn’t FUD btw. I don’t believe it’s likely that BTC would crash low enough to be basically die, mostly because its come back from the “dead” several times. But hypothetically, how low do you think BTC would have to crash for all interest in it to shrivel up? As in all investors rekt, complete…
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“We are seeing unprecedented opportunities in this market,” said CleanSpark president and CEO Zach Bradford.

As of June 30, about 75.6% of Circle’s reserves were held in U.S. Treasuries and 24.4% were held in cash at regulated financial institutions.