Shiba inu’s (SHIB) 50% rise on Tuesday, seems to have inspired LEO bulls, who moved to push prices up by 61% in today’s session. The move comes as crypto markets consolidated yesterday’s gains. Biggest gainers Monday’s biggest loser, was Tuesday’s biggest gainer, as UNUS SED LEO was up by as much as 61% as of […]
NGC Ventures, a crypto-focused investment firm, has announced a partnership with Seedify, a blockchain gaming incubator and launchpad. This strategic investment will drive Seedify’s expansion within the blockchain gaming arena and the wider metaverse. As a first-mover in the space, Seedify is a platform for IGOs (Initial Game Offerings) and effectively facilitates these launches with…
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The cryptocurrency market is still red, but it seems to be holding steady for now. In the last 24 hours alone, we’ve seen Bitcoin top $45,000 and then drop back down below $44,000. With the price of Bitcoin continuing to climb, it is no surprise that its market cap has reclaimed $2 trillion. Cryptocurrencies are beginning to recover after a month-long decline, with some coins seeing significant gains over the past day. The most valuable cryptocurrency by market cap, Bitcoin breached $45,000 for the first time in over 30 days as it gained 5.2%. Related Reading | Crypto Market Cap Reclaimed $2T: Bitcoin Reached 30-Day High Above $45K The cryptocurrency industry breathed a sigh o relief this week following severe sell-offs from January’s tumultuous trading sessions that saw many coins hit historic lows not seen since last year’s bull market crash. On Monday alone, there were five separate crashes across various communities leading up until Tuesday morning, when things finally started recovering. Bitcoin Could Not Sustain At $45K Level Honestly, the price could not sustain at these levels and has since retraced below $44,000. Still, the coin is up 2.7% in 24 hours with average volatility that left some $305 million worth liquidated positions during this period – the largest single order took place on OKEx, which valued BTC/USDT position 3.6 million dollars. It is no surprise that most liquidations are of short positions, and they happen on OKEx and Binance especially. However, there’s also some activity at Bybit too. Despite the recent upturn in Bitcoin prices, short positions continue to dominate. The aggregated funding rate remained negative, generally seen as a bullish sign. It can lead investors who expect their investments to liquidate these crypto-assets for even greater returns profitably. Crypto Market Cap Regained $2 Trillion Bulls in the crypto space have once again proved their might as they reclaim a key milestone of $2 trillion for total market capitalization. This comes on top of recent gains with Bitcoin and some altcoins too. Today, the top 10 cryptocurrencies are doing well, with AVAX seeing a 6% increase in value over the last 24 hours. Shiba Inu (SHIB) continues to be one of our favorite coins that’s up 17%. MATIC has also seen an 8% rise since yesterday, but other leading altcoins aren’t following suit again. The day saw a shakeup in the crypto market, with Solana and Poldadot losing about 3%. Ethereum lasted more or less flat throughout, which is also true for Binance coin (BNB). The biggest winner was KDA, which experienced 20% growth, while QNT saw an 8 percent decline in value over time. Related Reading | Top Crypto Gainers And Losers Today The market is becoming more balanced as Bitcoin’s dominance increases. Bitcoin Correlation With The U.S Stock Market Bitcoin has been experiencing increased volatility since the beginning of 2022. As a result, many are concerned about its correlation with stock markets, and it is expected that if this trend continues, then Bitcoin’s price could go even higher in SP500 index races. However, the stability within America’s benchmark indices may just push our digital assets further upwards. The US Federal Reserve has been a significant factor in crypto price movements over this year, with many people expecting them to tighten monetary policy again. The upcoming budget release on Thursday may provide insight into whether or not that occurs. So we’ll be waiting for updates on interest rates hikes and what they mean going forward. Featured image from Pixabay, chart from Tradingview.com
“The department once again showed how it can and will follow the money, no matter what form it takes,” said Deputy Attorney General Lisa Monaco.
I am training on smart contracts and I need Rinkeby eth, I have tried for 3 days unsuccessfully using the rinkeby crypto faucet, following their instructions with a twitter post, but it always gives me the same answer: insufficient funds for gas * price + value, can someone send me some? my address is 0xc9600A5b745C396793B77dE4877353F25f2f6eEe…
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Bitcoin remains strong on lower timeframes but could see some short-lived downside pressure after being rejected at the $45,500 price point. The first crypto by market cap took an upside trajectory last week on the back of several bullish headlines, and an increase in demand. Related Reading | TA: Bitcoin is Surging, Why Bulls Could Aim More Upsides As of press time, Bitcoin trades at $43,816 with a 1.2% and 13.5% profit in the last 24 hours and 7 days, respectively. Data from ByteTree suggest Bitcoin’s latest price action is “encouraging”, but BTC’s price needs to go above the 280-day on their metric called ByTrend. If the bullish momentum continues, this cross will put BTC at around $50,000 per coin. Further data provided by ByteTree records an increase in the amount of Bitcoin held by funds. This metric has been on the rise since October 2021, it stood flat for a majority of January 2022 but resumed it uptrend from 840,000 BTC. The number of BTC held by funds rose from 840,000. The demand for the cryptocurrency has been increasing as more investment products offered, directly or indirectly, exposure to the price of Bitcoin. ByteTree records over 100,000 BTC held by Exchange Traded Products and over 650,000 BTC held by closed-ended funds, such as the Grayscale Bitcoin Trust (GBTC). Additional data from ByteTree provided by Jarvis Labs records a decline on the BTC fund inflows since January 2021. This metric hit rock bottom around August the same year after BTC’s price dropped from it’s a high of $65,000 to its yearly open around $30,000, losing 50% of its value. Later in the year, the BTC funds inflows started to trend to the upside once again but peaked around December last year. The uptick could suggest investors are turning bullish on BTC, one again. Investors Once Again Bullish On Bitcoin? However, the uptick could be just an increase in BTC inflows for investment firm Purpose’s ETPs as Jarvis Labs claimed: (…) thanks to Purpose’s ETP’s inflow the net inflow for this month is positive so far after dropping in inflows over 3 months which was attributed to tax-oriented selling. Separate data provided by investment firm Coinshares also records an increase in inflows for Bitcoin products. The cryptocurrency has seen $71 million in the past week alone but continues to record low volumes with only $1.8 billion against $3.4 billion in mid-January 2022. Related Reading | The Bear Signal That Suggests Another Bitcoin Crash Is Coming The investment firm believes the rise in inflows demonstrates investors are growing bullish, at least, for BTC. Ethereum inflows tell a different story, according to Coinshares: Investment products flows for Ethereum suggest investors remain bearish with outflows of US$8.5m, having entered the 9th week run of outflows totalling US$280m representing 2.2% of AuM
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This week in a note to investors, Fsinsight, a Fundstrat company, said bitcoin could reach $200,000 during the second half of the year. In the investor’s note, Fsinsight’s head of digital asset strategy, Sean Farrell, said the parabolic growth would be due to “legacy market capital entering the fold.” Fsinsight: ‘Bitcoin to Tap $200K in […]
Patrick McHenry implied that the U.S.’ regulation of stablecoins with a “single regulator at the federal level” would likely fail.
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