Category: Cryptocurrency News

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In recent times, the cryptocurrency landscape has experienced a widespread decline, yet the digital asset bitcoinsv, known for its associations with Craig Wright, has seen the most significant weekly downturn within the crypto sphere, dropping 18.9% versus the U.S. dollar in seven days. This decline in bitcoinsv’s value closely follows the verdict by U.K. Judge […]

XRP continues to show strength despite largely underperforming during the ongoing bull market. Interestingly, the crypto witnessed a surge in activity last week, with trading volume surging in tandem. Particularly, the trading volume saw an increase of over 80% recently.  However, the boost in activity and trading volume has not necessarily translated into continuous price growth, as XRP is currently on a 13% percent correction from the $0.74 price level on Monday. Related Reading: Sell Sign Ignites Speculation: Solana Fate Hangs In The Balance? XRP Trading Volume Surges, But Will Price Follow? XRP witnessed a surge earlier in the week which saw it breaking out of a 6-year-long symmetrical triangle, prompting analysts to anticipate a continued price surge. During this period, the crypto witnessed a surge in trading volume from whales in particular, with large bouts of XRP leaving crypto exchanges. This bullish sentiment allowed XRP to cross over $0.74 for the first time in eight months, albeit for a short moment. This surge in price was short-lived, as XRP fell as low as $0.6 in the days after. However, a recent 80% surge in on-chain activity and trading volume has led to the price of XRP increasing by 4.45% in the past 24 hours and 2.2% in a seven-day timeframe. Volume spikes of this magnitude often occur before a price rally, therefore, this massive spike in volume has the XRP community speculating that a strong price rally could be on the horizon. Total crypto market cap currently at $2.5 trillion. Chart: TradingView Current Price Action: Can XRP Reach A New All-Time High? At the time of writing, XRP is trading at $0.6398. The crypto’s journey to a new all-time high is definitely not going to be an easy one, as it is now down by 83% from its current all-time high of $3.84.  However, current market dynamics and various predictions from many crypto analysts indicate that the crypto might go on a surge of great magnitude in the near future. One of these is a prediction from analyst Jaydee, who noted that XRP’s recent breakout from the six-year trendline mentioned earlier could lead to a surge to $3 from the current price level. The major resistance level to watch is $0.74. XRP tested this level a few days ago but failed to close above it. If bullish momentum continues and volume stays strong, XRP could break through $0.74 decisively in the new week. If it does, the next resistance levels are at $0.82 and $1.5.  Related Reading: Crypto Carnage: Over $800 Million Wiped Out In Market Plunge One of the few factors that could contribute to a strong price increase is regulatory clarity regarding XRP’s status, which could boost confidence from institutional investors. Notably, XRP’s non-security status seems to be gaining ground. The European Corporate Governance Institute (ECGI) recently published a research paper acknowledging this non-security status. Featured image from Pexels, chart from TradingView

I'm searching for a good graph that tracks the % of funds in terms of the market capitalization of proof-of-work vs proof-of-stake coins compared to the total market cap of the crypto market. Can anyone provide me a good source which trackz this over the years? I suspect that PoS allocation jumped since the Ethereum…
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According to Brendan Cooper, a core contributor at Andromeda, the widespread distribution and adoption of the Web3 operating system (OS) will likely result in the emergence of new business models, much like what happened with the Web2 OS. The Web3 OS is also likely to simplify “how developers and users interact with the resources provided […]

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The recent market plunge has sent shockwaves through the crypto industry, resulting in hundreds of millions in dollars being wiped out in a matter of hours. The price of Bitcoin has retreated violently to a weekly low of $67,500 after a few days of showing remarkable advances and setting new all-time highs. The altcoins have experienced a significant decline as well, resulting in nearly 200,000 traders making liquidations during the last 24 hours. The weekend brought a tremor to the cryptocurrency market, with a sudden price correction causing short-term panic and hundreds of millions in liquidated positions. However, despite the wobble, analysts are divided on whether this signifies a broader market shift or a mere blip on the bullish radar. Crypto Long Squeeze Triggers Liquidations Over a 24-hour period ending Friday, March 15th, the global cryptocurrency market capitalization shed a cool 6%. This triggered a wave of automated liquidations, particularly for investors holding leveraged long positions – essentially large bets on rising prices. Related Reading: Bitcoin Miners Brace For Impact As Difficulty Reaches Unprecedented Levels According to Coinglass, a crypto data analysis platform, over $800 million worth of long positions were liquidated across the market. Bitcoin itself bore the brunt of the selling pressure, dipping as low as $67,000 – its lowest point in over a week. Liquidation heatmap in the 24-hour timeframe. Source: Coinglass The pain wasn’t evenly distributed. Over one third of the liquidations, a total of $660 million, came from long positions on Bitcoin. Altcoin Bloodbath Follows Bitcoin’s Lead The tremors weren’t confined to Bitcoin. The correction spilled over to the altcoin market, with popular tokens like Cardano, Dogecoin, Shiba Inu, and XRP all experiencing significant price drops. This, in turn, triggered further liquidations for long positions held on these altcoins. XRP traders alone saw over $10 million liquidated, with nearly $11 million coming from long positions. Total crypto market cap is currently at $2.5 trillion. Chart: TradingView Crypto Market Fights Back: Buying The Dip Despite the week’s fright, the overall sentiment in the crypto market remains surprisingly bullish. This is primarily fueled by the swift buying activity observed at key support levels as prices dipped. Bitcoin, the world’s most sought-after crypto asset, for example, has already staged a partial recovery, bouncing back to a little over $69,000 at the time of writing. Similar rebounds have been observed across several altcoins, suggesting that investors might be viewing this as a buying opportunity. Related Reading: Sell Sign Ignites Speculation: Solana Fate Hangs In The Balance? This correction can be seen as a healthy market reset after a strong rally, some analysts say. While some leveraged positions got burned, the fact that investors are stepping in to buy the dip indicates continued confidence in the long-term potential of cryptocurrencies. A Continued Balancing Act The weekend’s events serve as a microcosm of the ongoing struggle within the crypto market. On one hand, there’s a growing sense of institutional adoption and mainstream acceptance, fueling a bullish sentiment. On the other, the inherent volatility of crypto assets continues to pose a challenge, with sudden price swings capable of inflicting significant losses on unsuspecting investors. Featured image from Pexels, chart from TradingView