Leading centralized exchanges extend market share in 2022
The “top-tier” exchanges as ranked in a report by CryptoCompare increased their market share to 96% in February 2022.
The “top-tier” exchanges as ranked in a report by CryptoCompare increased their market share to 96% in February 2022.
People keep wondering why inflation would stay so low during two decades of, on average, low interest rates and massive QE. The answer is simple: it didn't. Assets were inflated rather than consumer goods. Now we're getting high consumer inflation due to war, COVID lockdown, trade protectionism, etc. and as the average person's disposable income…
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Bitcoin fell 15% in the last 24 hours, plunging below $40,000 for the first time since middle of March. Meanwhile, Ethereum was down 14%, retreating below the $3,000 level for the first time since March 22. BTC was trading at $39,783 at the time of writing, while Ether (ETH) fell to $2,978.54, according to Coingecko data. Investors are weighing the prospects of rising interest rates, skyrocketing inflation, and global commerce being disrupted as a result of Russia’s attack on Ukraine, among other factors. Suggested Reading | What’s Next For Bitcoin As Prices Encounter Difficulty Reclaiming $43,000? Bitcoin Retreats To Monthly Low Faced with the threat of further rate hikes by the US Federal Reserve, Bitcoin, along with stocks, is sliding to a monthly low. Hundreds of millions of dollars worth of liquidations have occurred as a result. Market experts believe that the central bank’s balance sheet reductions are exerting downward pressure on stocks and risk assets, with Bitcoin potentially losing allure. Decentrader co-founder filbfilb concurred with these severe headwinds, stating that the Fed’s action will have an effect on the BTC price trend “for months to come.” Lesser Exposure To Speculative Assets Investors appear to be decreasing their exposure to speculative assets, such as stocks and cryptocurrencies, in response to fears about inflation and slowing economic development. Additionally, the 10-year Treasury yield increased to a fresh three-year high of 2.77% on Tuesday, lowering the present value of high-priced technology equities. Bitcoin, which has generally been reasonably connected with the pricing of other cryptocurrencies, has recently become more correlated with stock prices. BTC total market cap at $765.42 billion on the weekend chart | Source: TradingView.com Suggested Reading | Price Of Bitcoin Retreats Under $42,000 As Enthusiasm From Miami Event Fizzles Last month, the cryptocurrency asset’s price correlation with the S&P 500 reached 0.50, with -1 indicating that they move in complete opposition to one another and 1 indicating that they move in perfect sync. According to Arcane Research data, it was the highest rate since October 2020. Nydig, a Bitcoin-focused asset manager, noted in a note to investors: “Bitcoin investors continue to be concerned about rising interest rates and the prospect of tighter monetary conditions.” Looming Crypto Meltdown On Sunday, BitMEX founder Arthur Hayes warned of a “coming crypto carnage” and projected that both Bitcoin and Ether would continue to plummet far further. The billionaire investment banker-turned-crypto mogul predicted that Bitcoin and Ether will “bottom well before the Fed moves” and reverses course on its tightening policies. Hayes anticipated that the two leading cryptocurrencies would touch the $30,000 and $2,500 levels by the end of June. Within 24 hours, Coinglass reports that roughly $440 million has been liquidated across the broader crypto market. This totals over 140,000 trades, one of which resulted in a $10 million loss on a single trade. Featured image from Medium, chart from TradingView.com
The Web3 tech investment firm will contribute up to $7 million to as many as 25 companies across Europe, Asia, and North America with the new funds.
"Buy when there's blood in the streets" No better indication that's there's blood in the streets like back to back to back posts where soft paper hands are CRYING talking about "I can't do this anymore" or "this is all a scam". You are not going to make it. Shut up and buy. Buy harder,…
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Epic Games, the game developing studio, and Lego, the famous construction block company, have announced a partnership to develop a metaverse designed for kids. This metaverse world aims to allow kids of all ages to become builders and design their own experiences while protecting their right to play by putting online safety as one of […]
Ethereum gained bearish momentum below the $3,100 level against the US Dollar. ETH price extended decline and settled below the $3,000 support zone. Ethereum started another decline and traded below the key $3,000 support. The price is now trading below $3,050 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $2,990 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover, but upsides might be capped near the $3,035 level. Ethereum Price Extends Decline Ethereum remained in a bearish zone below the $3,120 level. ETH broke the key $3,000 support zone to move further into a bearish zone. The bears even pushed the price below $2,980. A low is formed near $2,951 and the price is now consolidating losses. Besides, ether price now trading below $3,050 and the 100 hourly simple moving average. On the upside, an initial resistance is seen near the $2,990 level. There is also a connecting bearish trend line forming with resistance near $2,990 on the hourly chart of ETH/USD. The next major resistance is near the $3,035 level. It is near the 23.6% Fib retracement level of the recent decline from the $3,308 swing high to $2,951 low. A close above the $3,035 level might start a decent recovery wave. The next major resistance could be near the $3,130 level. The 50% Fib retracement level of the recent decline from the $3,308 swing high to $2,951 low is also near $3,130. Source: ETHUSD on TradingView.com A clear move above the $3,130 resistance could increase the chances of a trend change. In the stated case, the price could climb above the $3,150 zone. More Losses in ETH? If ethereum fails to start a recovery wave above the $3,035 level, it could continue to move down. An initial support on the downside is near the $2,965 zone. The next major support is near the $2,950 level. If there is a downside break below the $2,950 support, the price could resume its decline. In the stated case, the price could drop towards the $2,820 level or even $2,800 in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now correcting higher towards the 40 level. Major Support Level – $2,950 Major Resistance Level – $3,035
The report by Glassnode also revealed that up to 60% of the transaction volume is in what it calls “profit dominance”, and long-term holders are the most likely to be in the green.
The NFT and Metaverse investment firm plans to continue building out its REVV Motorsport ecosystem with a Metaverse-first approach.