Kaiko, a cryptocurrency market data provider, announced today closing $53 million in Series B funding. This round was led by Eight Roads, with participation from Revaia and existing investors Alven, Point9, Anthemis, and Underscore. The new round of funding will enable Kaiko to strengthen its institutional data products and infrastructure. Proceeds of the funding will…
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Will the wave of lending protocols struggling in the bear market stimulate the development of alternative solutions to create more sustainable investment opportunities?
XTZ rose to its highest point in nearly three weeks on Tuesday, as the token climbed for a second straight session. The move came as FLOW was also trading higher, as prices of the coin moved closer to $2. Overall, crypto markets were 0.90% lower as of writing. Tezos (XTZ) XTZ rose to a multi-week […]
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Short sellers have been ramping up their bets against tether, the world’s largest stablecoin, amid a broad market selloff that has called into doubt the financial health of some crypto companies. In the past month, more traditional hedge funds have executed trades to short tether through Genesis Global Trading Inc., one of the largest crypto…
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STEREUM – BETA STATE We started to develop on Stereum' s predecessor around 2 years ago out of the wish to simplify the process of setting up an Ethereum node and enable less technical minded people to solo stake on their machine using their own coins! We now want to push further! Through repeated iteration…
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Current BTC price levels are being keenly eyed as a prime site for a macro Bitcoin price trend reversal.
Bitconnect YouTubers/ Anthony pomp/ and about 100 other YouTubers/ influencers are the cancer to blockchain. These people always do the same thing, they promise yields/ a return on some high profile platform. On top of that they also offer trading courses. These people do not care about bitcoin. They only care about money. This has…
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According to the details, this year’s bearish market trend is the worst in history for BTC and other coins. It records many BTC traders engaging in panic sell-offs even with losses to ensure they are not drowned. Volatility is one attribute that marks digital currencies. Unfortunately, it’s a trend that could cause most inexperienced investors to suffer huge losses of funds with their crypto holdings. In most cases, many issues could trigger a bear market. Though some experienced players would use a bear trend to build up their crypto portfolio, a lingering bear market is never profitable. The 2022 trend seems to be taking the worst historical turn. Glassnode, a blockchain analysis company, has revealed an unfavorable overview of the 2022 bear market. Furthermore, the firm recorded many contributory factors for the prevailing crypto market price drop. Related Reading | Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending? The analytic firm reported on crypto market trends tagged A Bear of Historic Proportions. The report, released on Saturday, explained how Bitcoin’s price fall pointed to 2022 as the worst year for BTC. Some of the listed factors for the BTC bearish trend in 2022 include the following: Bitcoin’s methodic drop beneath the moving average (MA) of 200 days. Cumulative realized losses. Negative shifts from BTC realized price. According to Glassnode records, BTC and ETH prices became less than their previous all-time high cycles. Such a plunge has never happened in the history of cryptocurrency. Glassnode report indicated the severity of the bear market in 2022 as BTC went below the 200-day MA half mark. Notably, the first and apparent red alert of a bear market in the fall of BTC’s spot price beneath the 200-day MA. Also, it could go beyond the 200-week MA when the situation becomes critical. BTC Price Falls Below 0.5 Mayer Multiple, MM Additionally, the analytic firm displayed the extreme conditions of the crypto bear market as the spot price goes beneath the realized price. With the situation’s outturn, many traders are selling off their crypto tokens even as they make losses. In its illustration, Glassnode revealed that BTC plummeted below 0.5 MM (Mayer Multiple). This level makes it the first price fall to such an extent since 2015. Usually, the MM is a measure of price changes when it’s above or below the 200-day MA. Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead? The implication means over-buying if it’s above or overselling below. Also, the data from the company shows an MM of 0.487 for the 2021-22 cycle against the lowest recorded cycle of 0.511. The firm maintained that this is a historic occurrence as it’s uncommon for spot prices to go below the realized price. Finally, with an overview of all the negative values in the crypto market, the analytic firm concluded that the market has transited to a capitulation state. Featured image from Pexels, charts from TradingView.com and Glassnode
