Category: Cryptocurrency News

Ethereum Classic (ETC) is currently trading at $19.65, an increase from its previous price. The crypto, presently ranked at number 23 on CoinMarketCap, shows signs of life. The 24-hour trading volume of the token stands at $332,995,651.  The 24-hour low of ETC stands at $18.20, while the high was at $20.15. The market capitalization of Ethereum Classic also gained above 8% and is currently valued at $2,704,849,374. Related Reading: Litecoin (LTC) Breaks Above $75 As Price Eyes $90; Here Are Levels To Watch The crypto market, in general, has been on a downward trend. This week has been more positive, with some tokens rallying positively. Traders are still uncertain about the actual direction of the market and if support levels will finally outperform resistance. Institutional traders are increasing their crypto holdings with the long term in view. Currently, trust in cryptocurrencies hit an all-time low with the unraveling of FTX. However, some traders are consolidating positions and buying the dip. What Is Boosting The Price Of Ethereum Classic Amid A Possible Market Rally? Macroeconomic factors are mostly responsible for the price movement noted in cryptocurrencies. Ethereum Classic is rising due to traders’ optimism about the token’s value.  Built from an Ethereum hard fork, the wide adoption of the parent blockchain has also helped the project. However, Ethereum itself is currently undergoing a bearish phase. The proof of stake migration has not significantly impacted the price of ETH, since it has continued to dip. Ethereum Classic, on the other hand, has no plans to switch to proof of stake and is still being mined. The motivation of profit by miners has helped its cause even in the prolonged bear market of 2022. The announcement by the president of El Salvador, Nayib Bukele, to purchase 1BTC a day also helped the market to rally. ETC Is Tentatively Bullish Ethereum classic, despite its rally, will encounter resistance at the $21.7 and $26.5 levels if it goes on a bullish run. The support levels of the crypto asset stand at $15.9; if it breaches it, the coin will plummet further to the $13.2 level. The macD shows signs of tentative price movement; this means the positive momentum noted in the asset; might not be sustained.  The formation of a golden cross is present on this chart, with the 50-day MA crossing the 100-day MA. This implies that a bullish run is to be expected in the short term for the Ethereum classic. Market forces and investor sentiments will also play a major role in the short-term price movement. Individuals are adjusting their investment portfolios, with fear and panic commonplace in the market. Related Reading: Bitcoin Closing In On This Bullish Crossover, Relief Finally Ahead? With the current price trend, it is not likely that the Ethereum Classic will return to its all-time high of $176.16 anytime soon. Crypto analysts believe that Ethereum classic will recover from the slump in the coming months. Despite its close affiliations with Ethereum, the price correlation between the two assets has barely existed. Featured image from Pixabay and chart from TradingView.com

“The fall of FTX was not simply a result of sloppy business and management practices, but rather appears to have been caused by intentional and fraudulent tactics,” said the letter.

Data shows the crypto market has become highly correlation again in the past week as all indexes have been closing following Bitcoin. All Market Cap Weighted Crypto Indexes Have Been Moving Together Recently According to the latest weekly report from Arcane Research, the 30-day ETH-BTC correlation now has a value of 0.95. To assess the performance of the different portions of the market as a whole, the coins are divided into the “crypto indexes.” The criteria for putting any asset into an index is using its market cap. The “market cap” here simply refers to a measure of the total worth of a cryptocurrency’s entire circulating supply. There are three main categories of indexes: the “large caps,” the “mid caps,” and the “small caps.” As their names already imply, these indexes give a look at how the different sized coins are doing right now. Related Reading: Ethereum Bullish Signal: Whales Add $1B More To Their Holdings Here is a chart that shows how each of these altcoin indexes have performed against Bitcoin during the last month: Looks like the small caps have performed the worst in recent days | Source: Arcane Research’s Ahead of the Curve – November 22 As you can see in the above graph, the market cap weighted indexes didn’t diverge too much during the past month, but in the last week especially they have been following each other very closely. Both Bitcoin and the mid caps currently stand at exactly 18% in the red during the period of the last thirty days, while the large caps have also only minimally performed worse as the index’s returns are at 19% currently. The small caps have taken a noticeably higher hit than the rest of the pack, as this index is 23% underwater in this timespan. Related Reading: Bitcoin Closing In On This Bullish Crossover, Relief Finally Ahead? As is apparent from the data, assets across the crypto market have become pretty correlated in recent days. The report additionally notes that the 30-day rolling correlation between Bitcoin and Ethereum has now hit a value of 0.95. The correlation metric can have a maximum value of 1, which means these two cryptos are now almost fully moving in tandem. Since the year 2016, the BTC-ETH correlation has only been seen at such high levels for 3% of the total time. Bitcoin Price At the time of writing, Bitcoin’s price floats around $16.4k, down 1% in the last week. Below is a chart that shows the recent trend in the value of the crypto. The price of the coin seems to have made some recovery from the plunge below $16k during the last couple of days | Source: BTCUSD on TradingView Featured image from Art Rachen on Unsplash.com, charts from TradingView.com, Arcane Research

The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The DMCC said the tokenized precious metals are backed by DMCC Tradeflow-registered gold bars, and each tokenized gold bar “will be backed by a Tradeflow warrant.” DMCC to Digitize Tradeflow-Registered Gold Bars via […]

Rising from the ashes of old crypto exchanges, a new paradigm arises.

Moons are r/CryptoCurrency's version of Community Points. Community Points are a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community. Moons are distributed every 4 weeks based on contributions people make to r/CryptoCurrency. For every distribution, Reddit publishes karma data as…
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Just as we thought the FTX-saga could not get any worse, Elon Musk too stage at twitter to expose that the news platform, Semafor, who often talk in a more positive way about SBF, is nearly entirely “owned“ by SBF himself as he is their biggest investor and a top 5 shareholder of them. Btw…
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How could an ethereum blockchain application (or any blockchain application), prevent a company from fooling its stockholders through manipulating its books and records? My understanding is that a blockchain can only keep track of transactions that happened within a blockchain. How would the blockchain know, for example, if a company is inflating sales of its…
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submitted by /u/thomas_m_k [link] [comments]

About a year ago.i sent some eth to a wallet and it's still there according to etherscan. Think is I don't know the location of said wallet. Is there a way to find it?? submitted by /u/rmh1128 [link] [comments]