Category: Cryptocurrency News

An unknown cryptocurrency called Cocos-BCX (COCOS) surprised market participants by sneaking into the crypto top 10 by market cap. Out of the bloom, the token records over $25 billion in market capitalization, according to data from CoinMarketCap.  Related Reading: AVAX Eyes The Next Resistance, Is It Time To Go Long? The platform experienced a bug that allowed COCOS to rise in the industry’s top ranking. As of this writing, CoinMarketCap removed the token, but its appearance raised some questions.  Analyst Will Clemente asked his followers: What is this random shitcoin that just appeared at #6 on coin market cap? $12 million in 24-hour volume LOL (…). COCOS Ranks Alongside Bitcoin, Binance Coin, And Ethereum COCOS is Cocos-BCX’s native token. This platform is a GameFi incubator for “investment, distribution, IGO,” and community building. Its ultimate objective is to bridge people to the Web3 space and support “high-quality” projects in the sector.  The platform provides users with a LaunchPad and Staking mechanism and is part of significant ecosystems, such as Binance Chain (BNB). However, data from CoinMarketCap shows that COCOS has a $12 million trading volume and a real market cap of $42 million.   The latter increased by 5% in the past 24 hours, probably due to the bug in the listing platform. The cryptocurrency has been trending across other platforms, such as CoinGecko, recording a high search volume.  Over the past month, the token moved against the general sentiment in the market and scored a 30% profit. In addition, the token is recording profits on high timeframes. It remains to be seen if it will maintain the upward trend in the current market conditions.  The irruption of COCOS into the crypto top 10 by market, albeit an issue with CoinMarketCap, remind some users of the changes in this ranking. Over the last year, the crypto top 10 by market cap has seen multiple changes.  Some users pointed to Internet Computer (ICP), a project led by the Dfinity Foundation that intruded into the ranking in 2021. Over the same period, Shiba Inu (SHIB), Solana (SOL), and Terra (LUNA) were in the ranking before their price collapse.  Coco’s reminded me of ICP. We all saw it on top 10 one day and you know what happened next. It’s still falling. pic.twitter.com/MTm3zdM3T1 — ⚡Bitcoin Anonymous⚡ (@BitcoinAnonymo1) December 15, 2022  Related Reading: This Indicator Says MATIC Price Correction Is Not Done Over the past four years, the ranking has seen bigger changes, but Bitcoin, Ethereum, and XRP remain constantly occupying the top positions.

Danske Bank has pleaded guilty to conspiring to commit bank fraud and agreed to forfeit $2 BILLION to resolve the U.S. investigation into its fraud on U.S banks. In reality, if they are happy to pay $2 Billion, the actual crime must have been in the hundreds of billions! Source: https://www.justice.gov/opa/pr/danske-bank-pleads-guilty-fraud-us-banks-multi-billion-dollar-scheme-access-us-financial submitted by …
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PRESS RELEASE. “NFTs aren’t dead, they are going to be everywhere” says Tina Lou, Head of Marketing at Minxie, “and, actually, the bear market is the best thing that could have happened to them”, she continues, “We’ve weeded through scams and rug-pulls and the projects left standing are truly dedicated to Web3 values. We’ve been […]

MATIC price is currently undergoing a correction. Over the last 24 hours, the coin has lost more than 4% of its market value. Signs on the chart currently suggest that MATIC is going to remain in the correction territory for some time. All the gains that Polygon (MATIC) secured in the past week were undone due to the loss on the daily chart. Technical outlook also implied that the price momentum for the altcoin was regressive and demand for the altcoin declined over the past few days. From the daily chart reading, it is difficult to ascertain where the MATIC price will find support. The altcoin is depicting signs of significant resistance in both the shorter and longer time frame. A bullish reversal seems unlikely as buyers have lost confidence in the asset. For MATIC the past few months have been quite tough as the coin continued to fall despite reserving the $1.31 price mark for some time in the past month. At the present moment, MATIC is trading at a 69% low compared to its all-time high registered almost one year ago. It is now imperative for MATIC to break past the $0.96 level for registering some positive price movement. Related Reading: Tron Price Prediction: Why TRX Could Outperform BTC and ETH MATIC Price Analysis: One-Day Chart The coin has broken its lower band of consolidation and is on a downward spiral. The overhead resistance for the coin was $0.94. A move above $0.94 will secure the altcoin’s move to $1 or even higher. Since MATIC has broken on the downside of the consolidation, further depreciation can follow. In that case, the altcoin will fall to $0.84 and then below the $0.80 price level. The amount of the altcoin traded in the last session fell and was red, indicating that bears were mauling hard. The altcoin was exchanging hands at $0.88 at press time. Technical Analysis The coin has formed an ascending support line. Typically, this is a bullish sign; however, in this case, MATIC is moving closer to the line. This indicates that the coin will fall below the $0.88 line and fall close to $0.84, which is another 4% depreciation. The Relative Strength Index (RSI) was under the half-line, meaning that sellers had taken over the price. In regards to sellers, the price of the altcoin fell below the 20-Simple Moving Average (SMA) line. A fall beneath that indicates bearishness, as sellers were driving the price momentum in the market. Investor interest also showed a decline on the daily chart. The Chaikin Money Flow represents the capital inflows and outflows at a given point. CMF portrayed a downtick which meant a fall in capital inflows, although capital inflows were still exceeding capital outflows at press time. Related Reading: Ethereum Price Resilience Gives us Pause, but Not out of Woods Yet The Directional Movement Index (DMI) indicates the price direction. DMI was negative, as the -DI line (orange) was above the +DI (blue) line. The Average Directional Index (red) was below 20-mark, which meant that the coin’s price momentum has lost all strength. This corresponded with a further fall in the price for MATIC.

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Join us as we discuss the current state of the crypto market, particularly in terms of the current bear market and Bitcoin mining. Hosting the show will be Ray Salmond, head of markets at Cointelegraph, and our special guest this week is Drew Vosk.

The Avalanche (AVAX) price has been undetermined for quite a number of weeks now. The altcoin is now logging gains on the daily chart as it rose over 3% in that time frame. The coin shows signs of optimism ever since it moved up from the $12.90 support mark. The technical outlook for AVAX displayed signs of demand and buy signals for traders. If demand continues to rise and buying sentiment increases over the immediate trading sessions, the chance of AVAX piercing through other resistance levels will strengthen further. As the coin continues to secure higher highs and higher lows, the bulls still remain in charge of the asset. However, if AVAX starts to consolidate below the $13 price level, then the altcoin can register depreciation. Progressive price momentum demands AVAX breach the $14.30 resistance mark. Once AVAX successfully manages to challenge that level, the bulls will stick around for longer. The market capitalisation of the altcoin already registered an upsurge which is tied to an increase in accumulation. Related Reading: Bitcoin Price Crystal Ball – What Happens To BTC After Christmas 2022? Avalanche Price Analysis: One-Day Chart The immediate overhead price ceiling that Avalanche price needs to breach stood at $13.90. This move would ensure another rally to $14.60. Once the coin moves past that level, accumulation will increase considerably. Traders had ample entry points in the market; for instance when AVAX dipped to $12. Over the upcoming trading sessions, investors can manage to see returns on the chart. On the other hand, if due to lack of demand AVAX starts to consolidate, the next level for the coin would be at $12.20 and then to $11. This would mean an 18% fall in price for AVAX. AVAX was trading at $13.48 at the time of writing. AVAX Technical Analysis Although the technical outlook pointed to positive price action, demand slightly fell on the daily chart. The Relative Strength Index (RSI) just dipped a little and rested on the half-line. This meant that buying power and selling strength were even. Other indicators have, however, sided with increased demand. The altcoin was above the 20-day Simple Moving Average as it crossed the $13.40 price mark. This was an indication that the buyers were still driving the price momentum in the market. Despite the RSI remaining neutral, other indicators have depicted that bulls were still fighting to push the price above $13.60. The Moving Average Convergence Divergence defines the price momentum and trend reversal. Related Reading: Ethereum Active Addresses At Highest Since May 2021, Good News For ETH? MACD underwent a bullish crossover and that meant a buy signal for traders which could also correlate with an incoming increase in price for the coin. The Parabolic SAR determines the price direction. The indicator formed dots below the price candlestick which suggested an uptrend for Avalanche price.

Dogecoin was trading close to a three-week low on Thursday, following the release of retail sales figures in the United States. Customer spending fell by more than expected in November, dropping by 0.6% last month. Litecoin slipped for a second successive session, falling to its lowest point since late November. Dogecoin (DOGE) Dogecoin (DOGE) remained […]

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