Category: Cryptocurrency News

submitted by /u/Alarm-Solid [link] [comments]

Do you think he's just absolutely losing his mind right now? He's still watching everything burn to the ground and has gone silent since tweeting yesterday about how he was in the process of fixing this whole mess. Circulating supply of luna has sky rocketed today going from 345 million to 210 billion as of…
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The way the algorithm works for the mechanism means you can trade UST for equal value of LUNA. So the simple version is that when someone sells one UST for $0.40 then it creates another 400 LUNA if the price is at $0.001 per LUNA. And if the price is $0.0001 it will create another…
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With the recent crypto crash, who will risk the value of their stake for a marginal APR? With GPU mining, you retain your investment in computer equipment you can resell. Yes it may depreciate in value as well, but when you can write off that equipment on your taxes it seems like the easy bet.…
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We've seen some HEAVY drops across the board. For many, it's hard to imagine how they can bounce back 60 or 70 or 95%. Obviously we can write off 90% of shitcoins, but what about the other 10%? Ada, Atom, Link, Matic, BAT, Doge, WAX, Algo, etc..? Let's try to keep it organized and from…
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Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, has launched cryptocurrency trading. Starting with bitcoin and ether, the bank explained that its 54 million customers can “buy, hold and sell cryptocurrency all from the same app, with no need to open new accounts or transfer money.” Nubank Now Offers In-App Crypto Trading […]

submitted by /u/jam-hay [link] [comments]

It is evident that the market has now officially welcomed a cryptowinter. The market prices of various digital assets show this. However, as is expected, investors in the space are wondering how long this cryptowinter is expected to last. Goin by previous markets, it could be that the market is in for the long haul but Cardano founder Charles Hoskinson has provided his thoughts on how long he believes the bear will stay. Prepare For Months Of Cryptowiner With the price of major cryptocurrencies such as Bitcoin and Cardano down, speculations abound about when the bottom of the market will be reached. Mostly, the negative sentiment that has washed across investors in the space has not done much to help things as the prices continue to decline as a result. Nevertheless, this has not stopped some from trying to pinpoint when the market will reach its inevitable bottom. Related Reading | Bitcoin Funding Rates Remain Unmoved Despite Plunge To $30,000 Addressing the market in a new twee, Cardano founder Charles Hoskinson has presented what he believes will happen to the market. The tweet that he starts out by welcoming those who this was their first cryptowinter also went further to put a timeframe on it. For the Ethereum co-founder, he believes that this downtrend will continue for weeks to months.  “If this is your first cryptowinter, then welcome,” said Hoskinson. “Been through many since 2011 and they always hit like a cold ice bath. We are in the panicked blood in the street phase. It clears in weeks to months as a bottom is found. Then a long climb up the ladder.” ADA Continues To Suffer Of all the digital assets suffering through cryptowinter, Cardano (ADA) has been one of the hardest-hit coins. The digital asset which had made its all-time high of $3.10 last year off the back of the launch of smart contract capability has shed most of that value by May of 2022. Data from Messari shows that the digital asset is currently down 85.39% from its all-time high. ADA trading 85% below ATH | Source: ADAUSD on TradingView.com Once bears had pulled the cryptocurrency below the $0.5, it seems all hope was lost for it to ever recover back to the coveted $1 level. What this had meant was the asset was now trading significantly below its 50-day moving average, an important indicator for short-term movement. Related Reading | Bitcoin Selloff Provides Boost To Miner Fee Revenues In the longer term, ADA continues to perform poorly. Sentiment has now skewed completely in favor of selling, making this a seller’s market. ADA investors have not been spared the bloodbath either as it is now one of the worst-performing in terms of profit, with more than 70% of investors holding bags of losses. The digital asset is trading at $0.454 at the time of this writing. Featured image from Cointribune, chart from TradingView.com

Traders identify key support and resistance levels that Ethereum must hold as ETH price trades at levels not seen since July 2021.