Category: Cryptocurrency News

Soccer fan tokens have seen their prices and trading volumes plummet since the start of the World Cup on Nov. 20.

The Axie Infinity price has skyrocketed in the past week; the altcoin has secured close to 40% appreciation. On the daily chart, AXS registered a 4.8% spike. This positive price sentiment can be tied to the recent developments within the AXS ecosystem. Axie Infinity’s community made its first move into developing the project into a decentralized future just a day ago. According to the technical outlook, buyers have made a strong comeback in the market. This has caused major accumulation over the past trading sessions. AXS formed a tall green wick tied to increased trading activity to corroborate the same. The chance of a price pullback cannot be ruled out, considering that the coin surged substantially overnight. Buyers might have difficulty sustaining the price breakout, so that AXS will travel close to its immediate support level. Only if this rally pushes the coin above the $10 level can AXS continue its bullish price action. Related Reading: Buyers Rule Over Algorand’s (ALGO) Price Action, Enough To Break Above $0.26? Axie Infinity Price Analysis: One-Day Chart AXS was priced at $8.96 after the recent surge in price. Overhead resistance for the coin was $9 and then at $9.72. Moving above the $9.72 level will help AXS to breach the $10 resistance mark. The aforementioned price ceiling has proved difficult for the bulls as the altcoin has been rejected at that level over the past few months. Clearance of the $10 mark will pave the way for AXS to reach $12. On the other hand, a price pullback will bring AXS to $7.20. The amount of AXS traded in the last session increased, which portrayed the bulls taking charge of the price action. Technical Analysis In correspondence to the tall green wick Axie Infinity Price formed in the recent trading session, the coin was nearing the overvalued zone. The Relative Strength Index shot past the half-line and stood below the 80-mark. With a slight push from buyers, AXS will enter the overbought zone. AXS was also above the 20-Simple Moving Average line, which meant that the altcoin registered substantial demand. It denotes that the buyers were driving the price momentum in the market. AXS was also above the 50-Simple Moving Average line, which shows strong bullish price momentum. AXS depicted a buy signal on the daily chart in conformity with increased accumulation. The Moving Average Convergence Divergence identifies the price trend and reversals in the same. MACD assembled green signal bars over the half-line, which was the buy signal for the altcoin. Bollinger Bands forecast price volatility and the chance of fluctuations. The bands widened, indicating that the coin would continue to rise in value on its chart. Moving above $9.20 should not be difficult if the broader market is strong. Related Reading: Solana Price Could Target $15 If It Breaches These Levels Featured image from PiunikaWeb, Chart: TradingView.com

Calling the bottom in Bitcoin is no easy task. Prices tend to fall more dramatically and faster than anyone is prepared for and is the investing equivalent of catching a falling knife. Yet if anyone is equipped to accurately call the bottom in crypto, it would be Charles Edwards, fund manager and Bitcoin fundamental expert, responsible for creating some of the most famous tools in crypto.  Meet The Creator Of The Most Profitable Bitcoin Buy Signal Although you might not know Charles Edwards by name, you might have heard of some of his tools before. The Hash Ribbons, once known as the most profitable signal in Bitcoin ever, is among his custom toolset of crypto-specific indicators.  Related Reading: Bitcoin At $1,000: Looking Back At Nine Years Of Bull Run In a recent Twitter thread, Edward unveils a series of on-chain signals that present a strong case as to why the bear market bottom in crypto could be in.  Among the arguments made include the price per BTC dropping below the electrical cost of generating each coin, plus MVRV-Z score and long-term NUPL are at previous bear market lows.  Bitcoin briefly traded below its electrical cost | Source: BTCUSD on TradingView.com On-Chain Cases For The Bear Market Bottom Being In Entity-adjusted dormancy flow is at an all-time low, and we’ve reached the third-highest BTC miner stress event ever. Past events were back when BTC traded at $290 and $2. Bitcoin Energy Value is also at the deepest price discount it’s ever seen.  Entity-adjusted dormancy flow is at the lowest level ever | Source: Glassnode Edwards also cites that stablecoin capital is sidelined in USDT and USDC and hasn’t left the industry due to FTX — its just waiting for a reversal to reenter safely.  He also points to miner capitulation in the Hash Ribbons.  Related Reading: For First Time Ever, Bitcoin Hash Ribbon Golden Cross Has Failed The only problem is that the last time the tool fired, the previously profitable signal failed to yield any positive results for the first time since it was created. Will this signal redeem the indicator? Will this coming buy signal do the trick? | Source: BTCUSD on TradingView.com Bitcoin price is trading at approximately $17,000 per coin, or roughly 77% down from all-time highs. Past drawdowns concluded at 96%, 86%, and 84%. What will the final number be for this market cycle? Featured image from iStockPhoto, Charts from TradingView.com

The crypto market is currently undergoing a series of unfortunate events. From the crash of stablecoin Terra to the fall of Celsius, it has been a gloomy year for crypto investors. More recently, the capitulation of the Bankman-Fried-led popular exchange FTX has further amplified this negative trend. In addition, exchanges like Gemini and Coinbase have laid off a significant chunk of their workforce. Related Reading: For First Time Ever, Bitcoin Hash Ribbon Golden Cross Has Failed According to Glassnode reports, the collapse of FTX has led to one of the largest; deleveraging events in the history of crypto. As a result, the market has dipped in recent weeks. Glassnode emphasized the size of losses felt by all market players in the deleveraging event. In the long term, this forced-priced flush-out might prove beneficial to the prices of assets. However, Glassnode also believes that a capital reset is at hand. How Is The Crypto Market Faring? With current events, the crypto market has pulled back 1.1%. The total market capitalization stands at $892 billion. With the fear and uncertainty high in the market, resistance levels will be tough to break through for any asset. Most altcoins have maintained neutrality today- neither posting significant gains nor losses. Bitcoin is close to the $17,000 level retracing from $17,400 in less than 24 hours; Ethereum has pulled back 2%, retreating to the $1,266 level. The crypto market is generally downtrend today with a reduction in market capitalization. Record Breaking Capitulation Two massive capitulations reshaped the crypto space in 2022. The events; occurred in June and November. The FTX saga led to a loss of $4.43 billion in one day. Terra’s capitulation caused a deficit of $700 million in 14 days as investors withdrew their capital in droves. Glassnode compared the ratio of realized profits to realized loss, with the latter outstripping the former. As per the data, these losses were fourteen times larger than the gains in the market. According to historical data, previous ratio lows of similar effect occurred at the cycle of bottoms. Again, this pattern was observed – in the 2011,2015, and 2018 bear markets. Related Reading: Bitcoin Now Undervalued For 170 Days, How Does This Compare With Previous Bears? After these significant losses, a trend shift occurred after each bear market – leading to a bull market in all three years. Glassnode stated that the size of the losses had reduced in recent weeks after the crypto flush-out. The prices will likely consolidate – in the coming months before a significant trend reversal. According to CNBC’s Jim Cramer, investors need to cash out on crypto while they can. However, with the recent event that has created a negative impression on crypto investment, Cramer emphasized that the decision be made sooner rather than later. How investors will react to the flush-out, and its resultant effects remains a mystery. Featured Image From Pixabay, Charts From Tradingview.com

A court in the Chinese city of Hangzhou has determined that non-fungible tokens, or NFTs, represent virtual property protected by the laws in the People’s Republic. The ruling comes from a case over a dispute between a customer and a platform hired to sell a collection of tokens. Hangzhou Internet Court Hears Case Involving Property […]

L2s have made major gains in the recent year and have developed new tech and upped their throughput. Ethereum as well has pushing into upgrading the chain in a way that boosts L2 throughput (dank-sharding towards the end of 2023) However, regardless of how fast a chain/L2 can process transactions, there will always be the…
Read more

Since the first few months of 2022, Bitcoin and crypto space has maintained a bearish trend, though there were a few spikes to recall. Several markets, including the stock markets, are still facing a crisis. Unfortunately, there are no signs of a reversal in the interim. Moreover, several investors, financial experts, and institutions still wonder whether or not the market will recover soonest. BTC’s Return on Investment (ROI) is still very high. But it currently shows a -74.96% drop from its all-time high in November 2021. Related Reading: Bitcoin Price Lacking Momentum Above $17k, BTC Holders Are Safe: Here’s Why The bearish price movement of BTC is also visible in the prices of several other altcoins – bringing the broader crypto market cap to approximately 900 billion dollars. Bitcoin Price Might Drop Even Further In 2023 The world’s largest digital coin, Bitcoin, recently recovered the $17K price. However, this positive movement doesn’t guarantee broader market recovery, considering the FTX contagion about a month back. Bitcoin began the year at around the $50K price and steadily declined. From the market watch, BTC hit its year’s low of $15,700, which can be traced to the FTX crash in November 2022. Experts believe the crypto market may see more falls in the coming year. The Head of Research at the Standard Chartered bank, Eric Robertsen, announced that the BTC could decline to the $5,000 price mark in 2023. Should this occur, it would be an additional price drop of approximately -70%. There are chances that more crypto companies will file for bankruptcy in 2023 due to the market’s fall. The analyst believes that such an event will discourage more crypto investors, which would cause them to back out from the market. Related Reading: Bitcoin Now Undervalued For 170 Days, How Does This Compare With Previous Bears? Meanwhile, the present look of the crypto market has become a cause for worry to many investors. This particular to the new entrants in 2021, when BTC was at its peak of $68K. Since the remarkable price growth, market projects have been experiencing back-to-back failures. However, such occurrences lack macroeconomic factors birthed mostly in 2022. The Future Is Still Unclear Crypto experts’ price predictions of Bitcoin in 2023 surfaced when the market was still encouraging to investors. However, the bear run in 2022 has shattered all hopes and expectations of the token in 2022 and 2023. According to the founder of Pantera Capital, Dan Morehead, crypto adoption may alter the dynamics of demand and supply. This is in line with the crypto prediction of certain industry insiders for September 2022, stating that the worst of the crypto market is already out. As a result, the future of BTC is still uncertain. Meanwhile, Bitcoin stands at $17,016, displaying a 24-hour positive price change. Furthermore, the Fear and Greed index of the token currently shows 26, which implies that investors presently have a fear sentiment. Featured Image From Pixabay, Charts From Tradingview.com

Mark Cohen was a former assistant U.S. attorney for the Eastern District of New York who was also on the defense team for the high-profile criminal case involving Ghislaine Maxwell.

Microsoft and cybersecurity firm Volexity have traced a new version of AppleJeus malware to the hackers behind the Ronin exploit and numerous other online heists.

I just received a new trader NFT from Reddit on my home screen. https://preview.redd.it/1sxy6zmmlc4a1.png?width=1125&format=png&auto=webp&s=019c527f6a3ff515fd0b550999d275068759dd6f ​ https://preview.redd.it/q7lcmxynlc4a1.png?width=1125&format=png&auto=webp&s=93717b60a0bc86abe0a084cd2bb41b26a3e831d9 I've never got into NFTs and always saw them more as a overvalued shady buiseness but I have to admit these free drops got me more and more into it. From all the NFT news I've seen over the…
Read more