The week in DeFi saw European lawmakers write a new chapter on DeFi, Virginia county plans to put its pension fun in a DeFi yield, DeFi protocols lost $1.6 billion to exploits and more
Lewis Capaldi is yet another artist that sees the benefits of NFT ticketing. Today it's been announced that XTIXS will be ticketing his show in Iceland. The ticket sale goes live on May 12th. https://preview.redd.it/fwk0yjlgpwx81.png?width=950&format=png&auto=webp&s=94702c3fc1b44aad0c991a68459f64b850d25ff1 XTIXS is one of the integrators of GET protocol. This means that GET protocol provides the entire ticketing infrastracture,…
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This is what i think about when seeing so much FUD about BTC dropping to 35K. People have this delusionment that makes them feel they can buy when everything is hyped up to the max, and expect their coin to keep flying up until they hit 1000% ROI. That's just not how this market ever…
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The decentralized space continues its expansion and major brands are adopting Web3 tools, including Google’s cloud unit.
According to a notification published by the governor's office, California Governor Gavin Newsom signed an executive order on Wednesday to "establish a transparent and consistent business environment for enterprises working in blockchain, including crypto assets and related financial technology." According to the notice: California is the first state in the country to begin developing a…
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Today the cryptocurrency market experienced a sudden crash, with Bitcoin and Ethereum prices falling. Other major coins also saw a significant fall. Around $100 billion was wiped from the combined value of all cryptocurrencies in just minutes. In the last 24 hours, Bitcoin experienced a 5% decrease. At the same time, the price of the second-largest cryptocurrency Ethereum has decreased by a similar amount. In addition, Ethereum’s rivals Solana, Cardano, and Avalanche, have reduced by around 3%, while Ripple’s XRP and Terra’s luna lead the significant crypto markets lower. Related Reading | Bitcoin Collapses By Most In Nearly A Month – Its Golden Days Are Over? The markets were thrown into chaos on Wednesday after the Federal Reserve announced that they would be hiking their interest rates. The sudden crash came amidst a tech company-led sell-off of stocks in response to this news, which has since spilled over onto other sectors as investors escape towards safer assets. The U.S. economy could go into recession because of the interest rate hikes and the tightening of monetary policy. Yesterday, Wall Street had a bad day. The Dow Jones Industrial Average lost over 1,000 points, and the tech-heavy Nasdaq fell 5%. Yesterday’s losses preceded big rallies in the previous session. Bitcoin, which usually moves along with the stock market, has been stuck in a narrow range all year. It has struggled to get back to its high prices from late 2021 amid a broader market sell-off. Bitcoin Following U.S. Stocks Bitcoin is not the only thing that is struggling–the S&P 500 has also fallen to a new record low for the year. Sam Kopelman, the U.K. manager for bitcoin and crypto exchange Luno, warned that bitcoin could “slip back into the previously found $36,000-$37,000 support range.” Kopelman’s outlook on the major coins like Ethereum, Solana, Cardano, XRP, Avalanche, and Luna is less than optimistic, but he does have some hope for bitcoin. Kopelman said; Overall, 2022 has generally seen crypto market participants climbing down the risk ladder. Selling their smaller coins for blue-chip coins like bitcoin. The market has had a delayed response to the Federal Reserve’s biggest rate hike since 2000, first spiking on Wednesday’s news and leading market watchers to believe the potentially “bearish event” to have been “priced in.” Related Reading | Over 110,000 Traders Rekt As Crypto Market Sees $120B Shaved Off On May 3, veteran trader Peter Brandt warned the bitcoin price could fall as low as $28,000. The completion of a bear channel typically results in a decline equal to the width of the channel, or in this case a hard test of 32,000 or so — my guess is 28,000 This does NOT make me a hater $BTC. Featured image from Pixabay and the chart from Tradingview.com
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Polygon has been making waves in Web3.0 since inception. But the recent development & activity has made crypto natives more bullish on the ecosystem than ever before. Stripe X Polygon Stripe, the global payments giant, is making its foray into the cryptoverse with Polygon. Soon, Stripe will allow business owners to pay using USDC. Plus,…
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On-chain data shows Bitcoin short-term holders seem to have been behind the latest selloff that has taken the price of the crypto below $36k. Bitcoin Investors Holding Coins Aged Between 1 Day And 6 Months Sold Big Yesterday As pointed out by an analyst in a CryptoQuant post, short-term holders seem to have sold the heaviest during the recent selloff. The relevant indicator here is the “exchange inflow,” which measures the total amount of coins moving into exchange wallets. A modification of this metric is the “exchange inflow spent output age bands.” it tells us how much the different Bitcoin holder groups are contributing to the inflow. The various groups are divided based on how many days the investors held their coins before transferring them to the exchange. The 1-day to 6-month coin age group is generally considered the “short-term holders” (STH). This cohort is usually the likeliest to sell their coins. All investors holding their Bitcoin for longer periods of time are the “long-term holders” (LTH). Now, here is a chart that shows the trend in the below 6-month and between 6 to 18-month age group inflows over the last few months: Looks like STH inflows spiked up recently | Source: CryptoQuant As you can see in the above graph, the 1-day to 6-month coin age group sent a large amount of coins just yesterday. The inflow spike amounted to more than 60k coins being transferred by this group. Investors usually send their Bitcoin to exchanges for selling purposes, hence these coins took part in the selloff that has now taken the price below $36k. Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up The 6-month to 18-month group, on the other hand, doesn’t seem to have moved too many coins over the past day. The older Bitcoin LTH groups have also not shown much activity recently. The below chart shows the trend in their inflows. The 1.5-year to 3-year cohort only looks to have sold around 500 BTC yesterday | Source: CryptoQuant From these trends, it seems like the only investors that took part in the selling yesterday were the short-term holders, who are generally the more fickle ones. The long-term holders still look to be holding strong. Related Reading | Bitcoin Long Squeeze Incoming? Funding Rates Surge Up BTC Price At the time of writing, Bitcoin’s price floats around $35.8k, down 8% in the last seven days. Over the past month, the crypto has lost 21% in value. The below chart shows the trend in the price of the coin over the last five days. The price of Bitcoin seems to have plummeted down over the past day | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
