Category: Cryptocurrency News

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The past few days have seen a decline in the price of crypto assets such as Shiba Inu (SHIB), with inflation and other macroeconomic factors in play, as other cryptocurrencies registered gains. Related Reading: Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally? Macroeconomic factors have historically impacted crypto prices. Recently, the FUD (fear, uncertainty and doubt) levels in the market were high, taking a toll on crypto and investor sentiment. Meanwhile, the Binance vs. Reuters tussle sparked a considerable amount of withdrawals from the exchange. However, anxiety is reducing, and normalcy has returned to the market. Bitcoin and other altcoins have recorded gains in the past 24 hours as the market looks to recover. But Shiba Inu has dipped in the last 24 hours, losing above 7% of its value to trade at $0.0000088. Whale Transfers Over 210 Billion SHIB Lookonchain, an on-chain analysis platform, reported that a whale transferred 207.2 billion SHIB tokens valued at $1.9 million to Binance. The transfer took place at 01:54 PM UTC. This whale also dumped close to 4 billion tokens in a 7-day timeframe pushing the sell-off figures to more than 210 billion. This transfer affected the price, making it lose 3% a few hours after the transfer. The ripple effect of this activity also caused the asset to fall below its support level by another 3%. The coin price decreased by 6% before the U.S. Federal Reserve revealed its rate hike decision. Whale In Control Of SHIB Price Momentum The controversial whale had moved 3.49 trillion SHIB for 2.37 ETH, valued at $2,233 via Uniswap in 2020. It spent 1.83 ETH on 2.27 trillion SHIB tokens and 1.22 trillion using the addresses 0x5952 and 0x92f2. The whale made its last purchase on February 9, 2021, and has only sold Shiba Inu since then for profit. After the token rallied in 2021, the whale took short positions for its holdings. Lookonchain places the total token sold by this whale since April 13, 2021, at 2.94 trillion SHIB. The whale will make close to $18.3 million if it sells at the current market price. Related Reading: End Of Litecoin Rally? LTC Plunges 7% In Last 24 Hours With much holdings and financial might, this whale can influence the price of SHIB at will whenever it decides to resume selling. The wallet address reveals that this particular whale has 546 billion in store, valued at $4.84 million. The sell-off has increased the circulating supply and has consequently reduced its value. Investors will watch this whale closely as the general crypto market gears up for a revival.

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Guys, I usually get english but this time its all going over my head. I know what finality means, I know both finalisation and justification upgrades. But the following did not make sense to me. “finality requires a two-thirds agreement that a block is canonical, an attacker cannot possibly create an alternative finalized chain without:…
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The Cardano price continued to depict a strong bearish influence in the market. The coin lost over 7% of its value over the last 24 hours. On a weekly time frame, ADA was down by 14%. The extended price pullback might continue, so investors should be wary of their next move. The ADA price was unsettled; the only way investors can make gains is to sell now and buy when the coin dips further, as it would recover lost gains by correcting itself. The technical outlook for the coin supported the bearish thesis and emphasized that ADA might nosedive below its local support line. The trading volume of Cardano also dipped, indicating that sellers have taken over the market. In case of a price correction, if ADA manages to move above the $0.30 price mark, then the bulls will make a comeback. If bearish momentum continues to prevail, then investors will be presented with a shorting opportunity. Related Reading: Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally? Cardano Price Analysis: One-Day Chart ADA was trading at $0.26 at the time of writing. The altcoin continues to remain slippery ever since it lost the $0.44 support line. As accumulation remained considerably low on the chart, there are chances that the token’s value will drop further. Overhead resistance for the coin stood at $0.28 and then at $0.29. There will be rigid resistance at the $0.30 mark. In the event of the price falling further, the first stop would be at $0.24 and then at $0.22. The amount of ADA traded in the last session declined, indicating a fall in demand for the altcoin. Technical Analysis The altcoin has remained in seller territory for most of November and all of this month. Confirming that, the Relative Strength Index was parked underneath the 20-mark. This was a sign of overselling, indicating that the altcoin was heavily undervalued. ADA dipped below the 20-Simple Moving Average line, and that meant lowered demand. It also depicted that the sellers were driving the price momentum in the market. In accordance with the other technical indicators, the coin formed a sell signal on its daily chart. This would point to a shorting opportunity for investors in order to make up for the loss they incurred. The Moving Average Convergence underwent a bearish crossover and formed a red signal bar, which was the sell signal for the altcoin. MACD reads the price momentum, and the indicator agrees with the bears. The Directional Movement Index portrays the price direction. DMI was negative as -DI (orange) was above the +DI (blue) line. The Average Directional Index (red) was up and above the 20-mark, meaning that bearish price action is gaining strength. Related Reading: Japanese Government To Ease 30% Crypto Tax Requirement – A Good Move?

Ethereum fell below $1,200 to start the weekend, as prices continued to trade close to a multi-week low. This decline comes as market sentiment remained bearish following a big week of economic data. Bitcoin also extended recent declines, as traders remained nervous following news that financial auditor Mazars paused all work for crypto clients. Bitcoin […]

So I'm pretty much a cryptocurrency expert. I know I am, because Reddit recap told me I basically spent a bazillion hours on this sub over the last year. Also, I've taken a free $20 in USDT for leverage trading on MEXC and turned that into $20.76. I know what I'm talking about. I am…
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