I posted earlier about the possibility of getting Bitcoin owners to swap their Bitcoins for Ethereum. It kinda got all over the place, so I (learning something from that post) want to rephrase the premise. If half of Bitcoin owners went onto Coinbase right now and swapped their Bitcoin for Ethereum would that be a…
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Crypto investors still hope that the U.S. Securities and Exchange Commission will approve a spot-based BTC ETF one day, but data shows it has good reason not to.
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The top ten cryptos were all up yesterday after some crypto companies advertised during the pro football championship game. Yesterday’s market volatility continued with the SPX500 and DJ30 falling 0.29% and 0.44%, respectively, as well as NASDAQ100, rising marginally by 0.25%. Investors were again unnerved by geopolitical tensions throughout Europe to bring about a sell-off in their stocks on Friday evening; however, they seemed calmer today. Related Reading | Bitcoin Price: Research Group Sees Crypto Hitting $200,000 The UK100 fell 1.75% yesterday as broader market fears over the geopolitical situation in Ukraine sent stocks tumbling across Europe. On Monday night, the oil price nearly hit $94, increasing its previous high near 90 dollars. Top Cryptocurrencies Performance The price of Bitcoin briefly rose to $43,500 today. Solana rose 8%, while Ethereum gained more than 7%. XRP and Cardano also saw increases with 3 percent each at their peak values throughout Tuesday’s trading session alone. The live price for Avalanche is $88.33, with a 24-hour trading volume that has increased by over a billion. Meanwhile, its token AVAX is up nearly 11% over the same time period. With a 24-hour trading volume of $1.12 billion, Polygon is currently up 10% from yesterday’s price action and market cap 15th most significant coins in terms of the total worth. Related Reading | Polygon Token Price Analysis – New All-Time High This Week For MATIC? Top Gainers Of The Day It’s a good day to be in the top 100. Today’s biggest winners of the top 100 are Kadena, Gala, Mina, and The Graph. Kadena is a blockchain ecosystem that makes crypto work for everyone! They provide the security of Bitcoin with virtually free gas and unparalleled throughput. Their smart contracts are more innovative than ever, too – they have almost raised their value today due in large part because it offers all this great technology at an affordable price point (and no lock-ups). With the recent announcement of Galaverse dates, Gala Games’ market value has increased by 18%. The Graph, an indexing protocol for querying data on networks like Ethereum and IPFS that powers many applications in DeFi (decentralized finance) and a broader Web3 ecosystem, is up 19% within 24 hours. Recently, Mina saw their value surge 17% as they continue on a path to make blockchain more efficient. Mina Protocol is making headway with its succinct blockchain to curb computational requirements for DApps transactions. The last 24 hours have been fascinating for cryptocurrency traders, with many coins gaining significant value. One such example is Decentraland’s MANA token which saw its price increase by 9% in just one day. Other winners include Secret at +14%, Helium (+12%), and Qtum(+11%). The most popular metaverse Fantom also did well; it went up 8%. Hedera Hashgraph, the newest blockchain technology based on directed acyclic graphs (DAGs), has seen an 11% increase in value over 24 hours. The live price is $0.25 with a trading volume of 180 million dollars for today’s session alone. Top Trending Market Update onLEXpa (Online Lex Partners) is specialized in developing online courses and projects. After migrating to their new BSC contract, this business aims to make education more accessible through blockchain technology, which gave them 2623% growth. The value of Dopex has shot up 25% today, following its successful launch. The protocol is designed to maximize liquidity and minimize losses for option writers while maximizing gains by buying the rights from those who want them at a low price – which it does through an innovative trading algorithm.
The NFT marketplace no longer intends to offer customer support over Discord DMs.
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I was wondering if there is a reliable source to get the total number of daily transactions on Ethereum (L1 + all rollups)? Etherscan seems to show only the number of L1 transactions, but the number of daily transactions on L2 has (at least) cought up with the number of transactions on L1. Can anyone…
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The Canadian government has invoked the Emergencies Act to deal with the Freedom Convoy protests, said Prime Minister Justin Trudeau. The scope of Canada’s anti-money laundering and terrorist financing rules is also broadened to cover crowdfunding platforms and “all forms of transactions, including digital assets such as cryptocurrencies.” Canadian Government Invokes Emergencies Act Canadian Prime […]
On-chain data shows the Bitcoin leverage ratio has gone down recently as market de-risks amid macro uncertainties. Bitcoin Leverage Ratio Sharply Falls Down Over The Past Week According to the latest weekly report from Glassnode, the BTC futures open interest leverage ratio has decreased in the last week as investors de-risk their holdings. The “futures open interest leverage ratio” is an indicator that’s defined as the ratio between the market open contract value and the total market cap of Bitcoin. In simpler terms, what this metric tells us is the degree of leverage that an average user is currently making use of in the BTC market. When the value of the ratio increases, it means users are increasing their leverage as they take on more risk. High values of the indicator may imply that the Bitcoin market is overleveraged at the moment. And thus, it may be more prone to a liquidation squeeze event. On the other hand, low values of the metric mean investors are keeping their positions at low risk right now. The market is generally more stable during these periods as probability of deleveraging events decreases. Related Reading | JPMorgan Puts Bitcoin At $150,000 In The Long-Term, But What About Its ‘Fair Value’? Now, here is a chart that shows the trend in the Bitcoin futures open interest leverage ratio over the past year: Looks like the value of the indicator has declined recently | Source: The Glassnode Week Onchain – Week 7, 2022 As you can see in the above graph, the Bitcoin leverage ratio seems to have sharply fallen off over the last seven days. However, unlike many other deleveraging events over the course of 2021, this recent decrease wasn’t marked by a liquidation squeeze. Related Reading | Bitcoin Active Addresses Surpass 1.02M Three Days In A Row, What Happened Last Time The main push behind this trend looks to have been investors opting to de-risk their holdings by closing out their futures positions. The report notes that futures users may be showing this behavior in response to the many macro uncertainties currently looming over the Bitcoin market. As the current values of the indicator are very close to a range that has usually meant a more stable market, the price of the crypto may not show much volatility in the coming days. BTC Price At the time of writing, Bitcoin’s price floats around $44.2k, up 2% in the last seven days. Over the past month, the crypto has gained 3% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to have shown some sharp upwards momentum over the last twenty-four hours | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com
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