Category: Cryptocurrency News

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XRP has crashed alongside the rest of the cryptocurrency market, but this analyst thinks the asset could be the one to find a quick recovery. XRP Has Been The Top Traded Altcoin On Binance This Month In a new CryptoQuant Quicktake post, community analyst Maartunn has talked about how the altcoins currently compare against each other based on their monthly Binance futures trading volumes. The “trading volume” here refers to an indicator that keeps track of the total amount of a given asset that’s becoming involved in trading on a centralized exchange. In the context of the current topic, the platform is Binance. Below is the chart shared by the analyst that shows the trend in the monthly value of this metric for various top altcoins in the sector. From the graph, it’s apparent that during most months of this year, Solana (SOL) dominated the trading volume on the exchange. A shift has occurred in the market during the past couple of months, however, as SOL has lost its number one spot. Last month, it was Dogecoin (DOGE) that managed to surpass the asset to become the number one altcoin in this metric, while this month, XRP has overtaken both of them. So far, XRP has seen trading volume amounting to $116.6 billion on the exchange. This value is also certain to go even higher, as this month of December still has one-third of the way to go. While Binance doesn’t make up for the entire sector, the exchange is still the largest in terms of volume, so the trend on there can be representative of the wider market. “It’s important to track the top-traded coins on Binance, as they should be your main focus when trading altcoins,” notes Maartunn. During the last couple of days, the entire cryptocurrency sector has witnessed a crash. Based on the monthly Binance volume, though, the analyst says, “XRP seems to be one that could recover quickly.” In some other news, the market plummet in the last 24 hours has meant that the derivatives side of the cryptocurrency sector has registered a massive amount of liquidations, according to data from CoinGlass. Out of the $1.40 billion liquidations that have occurred inside this window, XRP-related contracts seem to have contributed for around $42 million, as the below heatmap shows. Interestingly, Dogecoin and Solana appear to have seen a larger flush than XRP. This may be down to the fact that both of these assets have also witnessed a deeper price drawdown. XRP Price During the latest crash, XRP briefly slipped under the $2.0 level, but it seems the coin has managed to recover back above the mark for now as its price is trading around $2.1. Featured image from Dall-E, CoinGlass.com, CryptoQuant.com, chart from TradingView.com

Jim Cramer, the host of CNBC's "Mad Money" and a former hedge fund manager, is at it again, this time advising investors to "buy the crypto dip." https://preview.redd.it/lo9i5rzjm58e1.jpg?width=1132&format=pjpg&auto=webp&s=064462c8226ba6b0db56d51a05d163e25d1093b9 But here's the thing with Cramer – his advice often leads to the opposite happening, a phenomenon hilariously dubbed the "Inverse Cramer Effect." Let's talk about Ethereum…
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In 2024, Web3 cyber threats led to losses exceeding $2.3 billion across 165 incidents, marking a 40% increase from 2023. Approximately $1.3B Recovered Web3 cyber threats surged in 2024, with losses exceeding $2.3 billion across 165 incidents, according to Cyvers. While 40% higher than the $1.69 billion lost in 2023, this year’s total losses were […]

Google said that advertisers who want to promote crypto exchanges and software wallets in the United Kingdom must be registered with the FCA.

Welcome to the Ethfinance Daily General Discussion on r/ethereum https://imgur.com/3y7vezP Please use this thread to discuss Ethereum topics, news, events, and even price! Price discussion posted elsewhere in the subreddit will continue to be removed. r/ethereum is now a mullet. Tech on the front page. Party in the daily! All technical and big news items…
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Bitcoin, the leading cryptocurrency by market capitalization, has recently experienced a significant and sudden price correction, sparking debate among investors. Concerns have surfaced about whether this downturn signals the conclusion of the current bull cycle or merely represents a temporary setback. While short-term holders face losses, long-term metrics provide a broader perspective on Bitcoin’s trajectory, as analyzed by CryptoQuant’s Avocado Onchain in a recent report. Related Reading: As Bitcoin Reclaims $100,000, Warning Signs Emerge from Long-Term Investors Opportunity Or End of The Bull Cycle? According to Avocado Onchain, the realized price for investors who entered the market during Bitcoin’s recent peak at $98,000 places them in a loss-making position. However, for those who invested between one to three months ago, the realized price is significantly lower at $71,000, offering a cushion against the current correction. Avocado pointed out that historical patterns from Bitcoin’s 2021 bull cycle reveal similar alternations between record highs and sharp corrections, suggesting that these dips may not necessarily indicate the end of the cycle. Instead, they have historically been “opportunities” for market rebalancing and subsequent growth. A key indicator analyzed is the 30-day moving average of the short-term SOPR (Spent Output Profit Ratio). This metric tracks whether recent market participants are selling at a profit or a loss. The current SOPR data reveals that recent short-term inflows into Bitcoin have yet to result in substantial profit-taking. Unlike previous cycle peaks characterized by aggressive selling, the ongoing correction appears subdued, indicating that the market may still have room for upward movement. Bitcoin Short-Term Dips vs. Long-Term Trends Additionally, Avocado Onchain highlights the importance of distinguishing between short-term corrections and broader cycle trends. Bitcoin’s tendency to rebound after corrections in past bull cycles reinforces the notion that the current downturn might not mark the cycle’s end. These insights align with the behaviour of long-term holders, who often use corrections to consolidate their positions, strengthening market resilience. Related Reading: Is The Bitcoin Top In For This Cycle? On-Chain Signals You Need To Know Avocado concluded the analysis, noting: For investors who have yet to enter the market, this may be an excellent opportunity to buy Bitcoin at a discount. Instead of succumbing to panic selling during short-term downturns, adopting a long-term perspective and a dollar-cost averaging (DCA) strategy could be a more effective approach. At the time of writing, Bitcoin is seeing a gradual rebound in its price surging by 1.3% in the past 1 hour. Regardless, the asset still appears to be overshadowed by the bears as BTC remains down by 3.5% in the past day and 10.5% from its peak of $108,135 recorded last week. Featured image created with DALL-E, Chart from TradingView

Bitcoin (BTC) is experiencing its first seven-day decline in eight weeks, prompted by hawkish signals from the US Federal Reserve (Fed) that have led traders to sell off the asset, which has more than doubled in value this year.  Bitcoin Rebounds To $97,500 After Historic ETF Outflow The market’s leading cryptocurrency saw a drop of as much as 5.3% to $92,149 on Friday, following a record high of just above $108,000 earlier in the week. Since then the Bitcoin price has recovered the $97,500 mark, down approximately 5% since Sunday.  This downturn has also affected smaller cryptocurrencies, including Ethereum (ETH)  and Dogecoin (DOGE), despite a generally positive performance in US equities. Related Reading: Bitcoin Rally Loses Momentum: Could A Drop To $75,000 Signal The Final Correction? The shift in sentiment is further highlighted by a significant outflow from US exchange-traded funds (ETFs) that invest directly in Bitcoin. On Thursday, these funds recorded a historic outflow of $680 million, ending a 15-day streak of inflows, according to data compiled by Bloomberg. The heightened volatility in the crypto market follows a rally that began after Donald Trump’s victory in the US presidential election on November 5.  Analysts from QCP Capital have noted that positioning in the market had become “overly bullish,” leaving digital assets susceptible to fluctuations in the Federal Reserve’s tone regarding inflation control.  With the US Federal Reserve signaling a potential slowdown in its easing measures with its chair’s Powell announcement on Wednesday, the focus is shifting to the pace at which traditional financial institutions adopt cryptocurrency. Historical Patterns Suggest Potential Rebound For BTC’s Price  Hani Abuagla, a senior market analyst at XTB, stated in a recent note that the interplay of monetary policy, institutional adoption, and political developments suggests that Bitcoin will remain sensitive to both macroeconomic and crypto-specific catalysts through 2025.  This sentiment is echoed by Chris Weston, head of research at Pepperstone Group, who advised caution in the short term. Weston noted that while a collapse in price is not imminent, the momentum behind Bitcoin’s recent rally has diminished, indicating a shift in market control. Related Reading: XRP, Solana Among Altcoins Witnessing TD Buy Signal, Analyst Reveals Market expert Lark Davis on the other hand, weighed in on the current price action, reassuring investors that historical patterns could suggest a rebound in the coming days.  The expert referenced December 2020, when Bitcoin experienced a 12% drop following a 77% rally in the preceding months but then surged from $17,000 to $41,000—a 136% increase—in just 23 days.  Davis posits that a similar scenario may be unfolding now, with Bitcoin facing a 13% dip after a robust fourth quarter. While he acknowledges the possibility of an additional 10-15% correction, he remains optimistic about the potential for further upward movement in the cryptocurrency market. Featured image from DALL-E, chart from TradingView.com 

Crypto analyst Rekt Capital says that Ether could keep consolidating between the $3,000 and $4,000 range, though a pullback to the lower $3,000s remains a possibility following its 10% fall over the past seven days.

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