Category: Cryptocurrency News

After a 10,000% profit over the past year, Shiba Inu (SHIB) trends to the downside with the rest of the crypto market. The meme coin had a surge driven by retail investors looking to ride the rally but has been unable to recover after a long period of persistent selling pressure. Related Reading | Can Shiba Inu Break Past The $1 Mark? Here’s How It Can At the time of writing, Shiba Inu (SHIB) trades at $0.000022 with a 6% and 30% loss in 24 hours. However, data provided by several monitors seems to suggest a change of dynamic in SHIB holders. Retail investors and speculators appear to be dumping their tokens, in favor of larger investors. Data from Material Indicators (MI), for lower timeframes, record retail investors have been selling into the recent relief price action. Although it has reverted into further losses, investors with bid orders from around $100 continue to dump their bags. As seen below, these investors have been massively selling funs in lower timeframes while investors with bid orders from around $1,000 to $10,000 buy. Total orders still trend into negative territory, but selling pressure seems to be absorbed by SHIB whales. However, while large investors in the green class, as the chart shows, continue to buy the downtrend, SHIB’s price should find support. Further data provided by MI indicates the cryptocurrency is sitting at support, but with close levels of resistance. This could explain why SHIB seems stuck and could remain in its current rage, at least, in the short term. IntoTheBlock records a surge in trading volume for Shiba Inu (SHIB). The metric accounts for 81% of total on-chain volume, the monitor shows, with transactions greater than $100,000 for a monthly high of $389 million. In other words, SHIB whales have been increasing their activity as the price rose to $0.000034. Shiba Inu (SHIB) Holders On The Rise The average SHIB balance has risen 39% in the last 24-hours, as the price showed potential signs of recovery. The trading volume last saw a similar spike back in October 2021, before an unprecedented SHIB price rally to its current all-time high. Total SHIB holders stand at close to 2 million which could benefit if the price repeats a similar performance. In addition, Whalestats indicates a multi-month surge in activity from unique traders. Related Reading | Shiba Tron, The Shiba Inu And Floki Inu ‘Killer’ That Soared 1,000%, Is A Potential Scam The cryptocurrency could benefit from a new product. Crypto exchange Binance offered a chance to claim a share of $100,000 in SHIB as part of a welcoming offer for news users. The official Twitter handle for Shiba Inu said: Since last year, SHIB has been a star for crypto adoption. Is clear to understand why #BinanceLovesShib and why they have launched a campaign to make getting into Shib even more attractive!

On-chain data shows the USDC exchange inflow has spiked up. Historically, stablecoins have provided dry powder for kicking off new Bitcoin rallies. USDC Exchange Inflow Sharply Rose To High Values Recently As explained by an analyst in a CryptoQuant post, almost one billion USDC has flowed into exchanges recently. Past pattern suggests this may lead to uptrend for Bitcoin. The “USD Coin exchange inflow” is an indicator that measures the total amount of the stablecoin entering wallets of all exchanges within a given period. When the value of this indicator moves up, it means investors are depositing a higher amount of coins at the moment. Usually, holders transfer stablecoins to exchanges for converting them into a volatile crypto, like Bitcoin. They may also withdraw the coins to fiat. Investors use stablecoins like USDC when they want to exit volatile markets and hold on until prices are favorable enough for re-entering them. This implies that high stablecoin exchange inflows may show that prices are once again good for re-entry. Related Reading | Bitcoin Trading Volume Has Now Stabilized At High Values, But For How Long? Now, here is a chart that shows the trend in the USD Coin exchange inflows over the past year: Looks like the value of the metric has surged up to high values recently | Source: CryptoQuant As you can see in the above graph, the USDC inflow has spiked up over the past few weeks. These inflows have amounted to around 1 billion coins. There were two other instances earlier during the period where similar values were also observed. Looking at the Bitcoin price curve in the same chart, it seems like some time following such large spikes in the indicator, the value of the crypto has always surged up as well. Related Reading | Bitcoin Exchange Reserve Has Now Reached An Equilibrium After 2 Years Of Downtrend This makes sense as many investors deposit the USDC for converting to BTC, so such inflows provide for a fresh supply of dry powder for sustaining a rally. Now it remains to be seen whether a similar effect on the price of Bitcoin will also be there this time, or if this USDC inflow will pump some other coins instead. Bitcoin Price At the time of writing, Bitcoin’s price floats around $39.2k, down 10% in the last seven days. Over the past month, the crypto has lost 11% in value. The below chart shows the trend in the price of the coin over the last five days. BTC’s price seems to have dropped down once again today | Source: BTCUSD on TradingView Yesterday, Bitcoin showed some sharp uptrend and broke above the $42k level again. However, today the coin looks to have plunged down once more. Featured image from Unsplash.com, charts from TradingView.com, CryptoQaunt.com

There are several ways to measure decentralization (add more if you think of them): a. Decentralized governance: How decisions about future development of the network are being taken. b. Decentralized software development: Who contributes to source code development, and who decides which changes get accepted? This is arguably a subset of governance. c. Decentralized infrastructure:…
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Crypto exchange platform BitMEX, announced today that Mercuryo, a crypto-asset payment gateway, is now integrated, providing users another method and secure way to purchase crypto via fiat. In total, 30 fiat currencies are available on BitMEX, with 21 new fiat currencies thanks to the Mercuryo integration (BitMEX also supports Banxa). The newly supported currencies are…
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Bitcoin (BTC) has retraced significantly today, a day after recording an 8% gain in response to President Biden’s executive order. Bitcoin, like the rest of the crypto market, is under pressure, falling more than 5% and falling below $40,000 levels. Bitcoin is currently trading at $39,324 with a market worth of $745 billion as of press time. Bitcoin Slumps After Gain Bitcoin reversed direction, while the euro’s two-day rally came to a halt, as investors awaited the European Central Bank’s (ECB) response to the gathering storm of high inflation and poor growth. According to TradingView data, the top fell to $39,000 during Asia hours, nearly reversing Wednesday’s 8 percent rise caused by US President Joe Biden’s crypto executive order. Laurent Kssis, a crypto exchange-traded fund expert and director of CEC Capital, said: “Market dropped again around 1:30 UTC during the Asian trading on long liquidations washouts which are still dominating the leverage markets. Any potential of a pullback seems futile due to the selling pressures these liquidations create.” Despite the fact that the crypto executive order boosted the crypto market, concerns about growing inflation remain. The entire focus will be on the approaching U.S. inflation, which is expected to rise due to the current geopolitical situation. Historically, the Federal Reserve (Fed) has had the most influence on cryptocurrency markets, whereas ECB rate decisions have had little to no impact. According to one observer, Thursday’s announcement is critical. Related article | Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report Griffin Ardern, a volatility trader from crypto-asset management company Blofin noted: “At present, we already know that the Fed will raise interest rates, so no matter how the U.S. market changes, this thing will happen. The most considerable influence at the moment may be the hawkishness of the European Central Bank this week.” The ECB is expected to publish its monetary policy decision on Thursday, March 10 at 12:45 GMT. Christine Lagarde, President of the European Central Bank, will hold a press conference at 13:30 UTC, 45 minutes following the ECB’s policy announcement. “Any unexpected move by the ECB could trigger a fall in the market,” Ardern added. BTC/USD trades at $39k. Source: TradingView Consumer prices in the United States rose 7.9% last month, the largest increase in more than three decades. This growing inflation data has put a significant amount of pressure on risky assets such as Bitcoin and stocks. As a result, Bitcoin has experienced significant volatility in recent months. Bitcoin has risen above $40,000 twice in the last month, but it has not been able to maintain this level for long. The volatility is likely to persist, knowing that the Federal Reserve of the United States can raise interest rates faster than predicted in the face of surging inflation figures. Related Reading | Battle Of The Hedges: How Gold And Bitcoin Have Performed With Russia-Ukraine Conflict

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Hi everyone, Anyone else also using the new staking feature on Zelcore? https://zelcore.io Been the highest APY i've gotten so far, so curious who stakes their coins there aswell.. Have a nice day guys! submitted by /u/TastefulReindeer [link] [comments]

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