Category: Cryptocurrency News

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We are currently breaking all sorts of records in the crypto space. Most weekly closes in the red for Bitcoin. Lowest overall sentiment as measured by popular indicators. Highest decrease in TVL across all chains. In addition, today we saw an example of decoupling from the traditional stock market. Unfortunately, this was in a negative…
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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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So I like many of you have found my self looking less and less at the charts and trying to occupy myself with other things like work and sleep, both of those things get old pretty fast so I asked myself "What If I made my own Shit Coin??" The process is fairly easy and…
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With over 270 million people, Indonesia is the fourth-most populous country in the world and its economy is one of the largest markets in Asia. It also has a large unbanked population, a receptive regulatory environment and additional factors making it stand out for crypto adoption. In the latest episode of the News Podcast we […]

Bitcoin dominance over the market has still not receded even as the price has fallen below $30,000. Just as BTC had taken a hit, so had the altcoins. This had given the pioneer cryptocurrency more leeway to eat back into the market dominance. Even though the market has been brutal to investors in the past week, it is starting to level out and as the end of the month draws closer, indicators are starting to point towards better forecasts. Bitcoin Still On The High Side With Bitcoin, there has never been a dispute regarding its dominance in the crypto space. However, this dominance has since been declining as more digital assets gain ground. It was expected that cryptocurrencies such as Ethereum would continue to win more market share but that has not proven to be the case. Related Reading | Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low Instead what has happened has been that bitcoin dominance has climbed back up towards seven-month highs. It is currently sitting above 46% and the last time the dominance was this high was back in October 2021 following the September crash. This dominance is also evident in the performance of the digital asset compared to the other indexes in the space. The month of May had hit all of the indexes hard, resulting in double-digit losses across the board but BTC has held up better in comparison to its counterparts. BTC dominance recovers above 45% | Source: Market Cap BTC Dominance on TradingView.com For the month of May, Bitcoin’s price is down 24%, a huge fall. But the small, mid, and large cap indexes have all done worse. The Large Cap Index is down 27% since the month began and the Mid Cap Index is down 31%. In true Small Cap Index fashion when the market is in a downtrend, it has recorded the most losses with a 37% decline since the month began. Altcoins Not Looking Too Hot The altcoins market is one that attracts investors due to the fact that it holds high promise for maximum returns. This has seen the market bloom throughout the bull rallies. But just as they are likely to run high during bull markets, they are also likely to incur the most losses during market sell-offs. This has been true so far in recent months. Whereas bitcoin has been able to retain above 40% of its all-time high value, a lot of altcoins cannot say the same.  BTC outperforms other indexes | Source: Arcane Research An example of this is Cardano. ADA had recorded one of the largest rallies during the 2021 bull market but it has also been one of the worse-hit cryptocurrencies in the bear market. Since hitting its all-time high of $3.10 in September, it has since lost over 84% of its value. Related Reading | Bitcoin On-Chain Activity Throttled After LUNA Collapse Dogecoin, an investor meme coin favorite, is down more than 89% from its all-time high. Solana is down more than 80%. In comparison to these, bitcoin has been one of the best performers in the market, which explains why its dominance has continued to grow. Featured image from The Washington Independent, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… 

The digital currency exchange Huobi Global has revealed it has acquired Bitex, a Latin American crypto platform that operates in Argentina, Chile, Paraguay, and Uruguay. Huobi details that the company is stepping up its presence in Latin America as it believes the region will be one of the most active crypto adoption areas worldwide. Huobi […]

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