Category: Cryptocurrency News

The crypto market woes from September look to have spilled onto October and going against the historical trend of October being a rather bullish month. September had seen the crypto market close with muted performances, but there has not been much change for the new month. Almost two weeks into the month, and it is starting to look like the much-awaited “Uptober” will disappoint investors. Poor performances All-Around All of the indexes in the crypto market are seeing poor performances from market participants. The first two weeks of the month have come back with negative movement and the declines have continued. The size of a cryptocurrency has not mattered either since they have all suffered closely similar fates. Related Reading: Bitcoin Mining Difficulty Adjustment May Force Miners To Dump Their BTC The Small Cap Index came out as the worst performing for the first two weeks of October with -4.7%. This is understandable given small cap altcoins have been known to take movements a couple of steps further; recoveries run higher and declines run lower. Large Cap coins followed as the second-worst performer in the same time period with returns of -2.4%. A bit more surprising given that they closely follow bitcoin price but it did not fall too much behind the Mid Cap Index which saw a decline of -2.1%. Market performance remains bad | Source: Arcane Research Bitcoin emerged as the best performer for this time period with only -1.5% in losses. It also follows the trend that investors are turning more towards bitcoin during this time and taking advantage of the decline in price. Crypto Market Deviates From Norm All of the performances highlighted above only go to show that the crypto market is not performing as expected. Even though investors are moving back into bitcoin, the market share of stablecoins is still on the rise, so there is still a flight to safety among investors. Total market cap below $900 billion | Source: Crypto Total Market Cap on TradingView.com For the last week, the crypto market dominance of bitcoin fell by another 0.20%, and ETH fell 0.24%, with recorded losses from others in the top 10 such as BNB, ADA, and SOL. Most of this lost dominance went to stablecoins such as USDT, USDC, and BUSD, all of which saw an increase in their dominance. Related Reading: Here’s Why SUSHI Is Down More Than 10% In The Last 24 Hours Crypto market sentiment still remains low in the extreme fear territory, which suggests that there is no expected recovery in the market during this time. Unless there is a reversal in this move to stablecoins, the market will continue to see negative rates. Featured image from NASDAQ, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Cointelegraph spoke with Steven Vasilev, the co-founder of RTFKT to learn more about how NFCs and NFTs can be used together to create better user experiences.

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According to various reports, the Solana-based trading and lending platform Mango Markets was hacked as a malicious actor was able to siphon $117 million from the protocol. An analysis of the hack published by Certik explains that the attacker manipulated the price of the project’s native token mango (MNGO) which allowed them to borrow $117 […]

The Ethereum price has been trending to the downside after its successful implementation of “The Merge” and its transition to a Proof-of-Stake (PoS) consensus. Launched back in September on mainnet, ETH’s price has been losing bullish momentum since then. Related Reading: This Expert Suggests How Ripple Price Will Trend Amid Expansion In Europe At the time of writing, the Ethereum price trades at $1,298 with sideways movement during today’s trading session and a 5% loss in the last 7 days. The second cryptocurrency by the market has been following the general sentiment in the market as the nascent asset class is pushed down due to macroeconomic factors. There Is Hope For The Ethereum Price, How Long Should You Hold ETH? According to a survey conducted by Finder with 5 experts, the Ethereum price has limited bullish potential for 2022. The experts believe that this cryptocurrency will likely continue moving sideways for the rest of the year. In tandem with current macroeconomic conditions, the Ethereum price will be limited by tightened financial conditions and liquidity. Thus, ETH is likely to stay at its current levels or rise by $1,360 to $1,377 by the end of 2022. As seen below, the cryptocurrency might pick up its bullish momentum in 2023 and 2024. This would take ETH’s price from its current levels to its previous all-time high north of $4,000. After that, Ethereum’s upside trajectory will be much steeper, according to the experts with a potential to reach a new all-time high in late 2024 or in early 2025. Over the next decade, the cryptocurrency could soar to $11,700, according to the most conservative experts. Others believe the Ethereum price could climb to as much as $14,000, $23,300, and even $26,000 over the same time period. The experts believe that the U.S. Federal Reserve (Fed) and its interest rates hike program will be its biggest obstacle to future appreciation. CEO and Co-Founder of Osom Finance, Anton Altement, stands among the bullish experts. He told Finder the following: All round market pessimism driven by Fed’s actions and still locked ETH staking are the key factors holding back the price. Former should disappear by December, latter by next spring – those 2 events will unlock the next legs of the rally. Can ETH Go Lower In 2022? In that sense, the majority of experts claimed that the Ethereum price might find a bottom at around $1,000 to $900 in 2022. These might be good levels for long-term holders looking to profit for future appreciation. Related Reading: Why ApeCoin Traders Should Expect The Next Coming Days To Be Tough For APE However, the Ethereum price is likely to remain limited as long as the U.S. Federal Reserve maintains its tightening agenda. The low ETH prices are, for 48% of respondents, an opportunity to buy cryptocurrency. Senior Analyst at FxPro, Alexander Kuptsikevich said: Ethereum has found itself in an area where it receives support from long-term investors. Crypto investors may remain cautious for a few more months or a couple of quarters, but we can expect an active bull market to return as soon as next year.

The Singapore-based crypto exchange announced Paris, France as its regional headquarters after receiving its French Digital Asset Service Provider license in September.

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