Category: Cryptocurrency News

The last week of November remained turbulent for the crypto market as majority of the DeFi tokens struggled with the market volatility.

I get that we are in turbulent waters right now in the wake of FTX collapsing, but some of you are really taking it to the next level. Every other post seems to be a call to action inciting a bankrun on anything and everything crypto related. Just this past week we’ve had “Coinbase is…
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BNB’s price bounces off from $250 as the price rallies to a high of $300 as bulls take charge of the price.  BNB’s price remains strong as bulls reclaim $300 despite uncertainty in the market traders and investors remain cautious.  BNB’s price bounces from a low of $250 on the daily timeframe as the price reclaims $300 as price trades above the 50 Exponential Moving Average (EMA) The price action demonstrated by Binance Coin (BNB) has recently been a better performer rallying from $250 to a weekly high of $300 than the previous week as the market suffered from some price decline affecting most crypto assets. Despite the relief bounce from BNB (BTC), the price still trades below the key region of interest that would attract the attention of many buyers. The Domino effect of the FTX saga and other huge investors has left the market at a standstill as the market is yet to make a major move leading to much fear about where the market could be headed. (Data from Binance) Related Reading: Bitcoin Bulls Get Rejected As $16,700 Proves Too Strong; Here Is What To Expect Binance Coin (BNB) Price Analysis On The Weekly Chart Despite the uncertainty and turbulence that has affected the price of Binance Coin (BNB) and the crypto market at large, many altcoins are struggling for survival, trying to stay afloat as the prices of altcoins continue a downward price movement.   Binance Coin (BNB) has suffered more price loss, as the price dropped from a high of $600 to a weekly low of $250, leading to speculation of a further drop to $200-$150.  BNB’s price declined from a weekly region of $400 to a region of $250 due to the FTX fiasco, as the price found minor support to hold the sell-off in price to a further weekly low.  The price of BNB has responded well, holding off sell-off and bouncing off from $250, rallying to a high of $300, where the price faced rejection breaking higher. The price of BNB needs to hold above $310 to keep alive the hope of a relief bounce.  Weekly resistance for the price of BNB – $310. Weekly support for the price of BNB – $290. Price Analysis Of BNB On The Daily (1D) Chart The price of BNB remains considerably strong in the daily timeframe as the price trades above $290 after BNB saw its price decline from $400 to $250 recently.  BNB’s price continues to struggle as the price looks good as the price aims to break and hold above the daily price of $305, which corresponds to the 50 and 200 EMA. The price of BNB needs to reclaim and trade above $310 for a short-term relief bounce. If the price of BNB fails to flip the region of $310 and gets rejected below $270, we could see more rejection in BNB price to a region of $200 and even lower.  Daily resistance for the BNB price – $310. Daily support for the BNB price – $290-$270. Related Reading: On-Chain Data Shows Signs Of Fresh Bitcoin Accumulation Featured Image From Coinfomania, Charts From Tradingview

Crypto firm Matrixport Technologies is reportedly seeking $100 million in funding, according to people familiar with the matter. Sources detailed that the company already secured commitments from investors for roughly $50 million, which would give Matrixport a post-valuation of $1.5 billion. Matrixport Looks to Raise $100 Million From Strategic Investors The digital asset firm and […]

Bybit launching a $100 million fund and Binance’s proof of reserves might have marked the cycle low at $15,500.

On-chain data shows signs of some fresh Bitcoin accumulation taking place during the last month. Bitcoin UTXOs Aged 1 Week To 1 Month Have Risen Up In Recent Days As pointed out by an analyst in a CryptoQuant post, UTXOs purchased between 1 week and 1 month ago have risen since the FTX crash. The relevant indicator here is the “Realized Cap – UTXO Age Bands,” which tells us which age group has what percentage of the Bitcoin realized cap. The “realized cap” here refers to a type of BTC capitalization model in which the crypto’s cap is calculated by weighing each coin in the circulating supply against the price at which it was last moved, and then taking the sum for the entire supply. This capitalization method is different from the usual market cap, where all the coins are simply multiplied with the current BTC price. Related Reading: Bitcoin Capitulation Deepens As aSOPR Metric Plunges To Dec 2018 Lows The “age bands” are groups that define the time period under which the UTXOs falling into it were last moved. For example, the “1m-3m” age band includes all UTXOs that haven’t shown any movement since between 1 and 3 months ago. Now, the age band of relevance in the current discussion is the “1w-1m” group. Here is a chart that shows how the realized cap contribution of this Bitcoin band has changed during the past couple of years: Looks like the value of the metric has been trending up recently | Source: CryptoQuant As you can see in the above graph, the realized cap of the Bitcoin UTXOs falling into the 1w-1m band was in a decline during the bear market and had reached very low values by the time the FTX collapse rolled around. Since the crash, however, the age band has been observing a rapid uptrend. This means that there have been a large number of coins purchased between 1 week and 1 month ago. Related Reading: Dump Incoming? Rogue BTC-e Sends $165 Million In Bitcoin To Personal Wallets And Exchanges Based on this trend, it seems like some investors have been busy accumulating at the lows that have been seen after the crash, despite the wider market feeling uncertainty due to the FTX contagion possibly causing a cascade of bankruptcies of other platforms. BTC Price At the time of writing, Bitcoin’s price floats around $16.5k, down 1% in the last week. Over the past month, the crypto has lost 15% in value. Below is a chart that shows the trend in the price of the coin over the last five days. The value of the crypto seems to have returned to a flat curve during the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com

I don’t hold any COIN, mostly because I loathe the stock market. But with the recent release of $33 Billion worth of reserves, does this make COIN an obvious value stock? Generally on the stock market, a company is valued at the very least 1x their Assets. And that is just their reserves for one…
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PRESS RELEASE. According to the official news, the Rugby League World Cup 2021 (RLWC 2021) drew to a successful close on November 19, 2022. Over the last month or so, this peak event presented global rugby fans with many brilliant moments. Meanwhile, CoinEx, the Exclusive Cryptocurrency Trading Platform Partner of RLWC 2021, also witnessed all […]

Despite the widespread loss of confidence in crypto following the FTX collapse, Bitcoin’s on-chain data gives investors hope.

The entire 2022 starting from LUNA collapse to recent FTX collapse including the liquidity crunch at Genesis and Grayscale has been summarised in this flowchart. It's a bit complex, but it gives the complete picture about what happened. Flowchart image link: https://imgur.com/a/Ifrh3rc Going to add some explanation here so that you can better understand what…
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