Category: Cryptocurrency News

Hello, Before the 2.0 upgrade I staked some of my eth to beth in Binance, now when I checked it, I can't trade it back to eth. Infact there is no other trade pair as well. What are my options to covert this eth. Apologies If I missed any major Binance update. submitted by…
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Popular crypto analyst PlanB, known for his strong bullish stance on Bitcoin and the stock-to-flow model, took to X to reiterate an optimistic long-term for Bitcoin. According to the analyst, we might be in the final days of Bitcoin below $40,000.  PlanB made a call to action based on his analysis of Bitcoin’s realized price, as all signs point to Bitcoin going on a strong price surge very soon. Enjoy Sub-$40,000 Bitcoin While It Lasts Bitcoin has outperformed other asset classes in terms of price performance this year. Price data shows the cryptocurrency is currently up more than 125% this year, and many analysts think this growth isn’t stopping soon. Related Reading: BLUR Token Rules Today’s Top 100 Crypto Ranking With 88% Rally – Details Crypto analyst PlanB is also of this continued bullish sentiment. According to his analysis of the realized price model, this could be the last chance to buy Bitcoin under $40,000. Realized price refers to the average price of all Bitcoin currently in circulation. Some experts argue this is a better measure of Bitcoin’s value than the current market price.  Bearish markets are usually characterized by a higher realized price than the spot price of Bitcoin. Bullish markets, on the other hand, are characterized by a higher spot market price. A look at the realized price shared by the analyst shows that the spot price of Bitcoin is now trading above the overall realized cost price, the 2-year realized price, and the 5-month realized price. If history is any guide, the market price could be headed significantly higher from here.  “Enjoy sub-$40k bitcoin … while it lasts,” the analyst said. Enjoy sub-$40k bitcoin … while it lasts pic.twitter.com/MgGD5LfuL7 — PlanB (@100trillionUSD) November 24, 2023 Last Chance To Buy Bitcoin Bitcoin is trading at $37,687 at the time of writing. According to Glassnode, the cryptocurrency’s realized price is currently around $21,000. When asked if there would be another opportunity to buy Bitcoin cheap one last time, PlanB replied neither yes nor no, only predicting that the cryptocurrency would trade between $100,000 to $1 million around the next halving cycle. Bitcoin (BTC) is currently trading at $37.687. Chart: TradingView.com A former prediction by the analyst puts Bitcoin around $32,000 to $66,000 during the next halving which is slated to occur in April 2024.  PlanB’s prediction resonates with the overall sentiment around Bitcoin. The cryptocurrency’s mainstream adoption is also increasing, particularly as the industry awaits the approval of spot Bitcoin ETFs in the US. According to CoinShare’s latest report, Bitcoin now has a year-to-date (YTD) inflows of $1.238 billion into its digital asset investment products.  Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 – Details The discount on Grayscale’s Bitcoin Trust is now at -7.31% from -48% at the beginning of the year. This increase indicates institutions are buying into the trust amidst growing bullish momentum. A move into the positive percentage would actually put the price of the trust higher than the spot price of Bitcoin for the first since the first quarter of 2021. NEW: Grayscale Bitcoin Trust’s discount to the #Bitcoin price is closing fast – from 48% to just 7.3%. The smallest gap since July, 2021. Institutions buying? 👀 pic.twitter.com/hDnAM0BxKG — Bitcoin Archive (@BTC_Archive) November 24, 2023 Featured image from Pexels

Decentralized file sharing is a peer-to-peer network system where files are distributed across multiple nodes, eliminating the need for a central server.

The price of Bitcoin hit a 2023 high, and Coinbase Global (COIN) shares went through the roof. It looked like the crypto exchange had benefited from Binance’s recent legal problems. People have noticed that COIN’s price has been doing well in line with the overall good trend in the crypto space led by Bitcoin. This week, the price of Coinbase stock has been going up quickly because its competitor, Binance, is having some problems with the government. COIN has been soaring for five days in a row and hit a four-month high of $114.4 as a result. But if you look at the chart for the daily time frame, you can see that this rebound is part of a rising channel. This means that the asset is ready for another surge. The Nasdaq-listed Coinbase stock reached an 18-month high on Friday. The prices of Ethereum and Bitcoin are also rising. The price of a COIN share was $115.75 at the time of this writing, up almost 7% in the last 24 hours. It has almost reached $117 per share so far today. Just one month ago, COIN was worth $82 per share, but now it’s worth over 40% more. Source: TradingView According to data provided by on-chain research company CryptoQuant, the US exchange’s bitcoin reserves have recently shot up, while Binance’s have fallen. Over the past several months, Coinbase has become even more of a major player in the digital currencies sector, even as other companies in the same field have gone out of business. Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 – Details The exchange’s solid track record has been a key part of its success, especially since it promotes a strong compliance-first approach after rivals like Binance have had major run-ins with the law. This week, Binance admitted to being guilty of money theft in federal court. The company decided to pay fines of $4.3 billion, and Changpeng “CZ” Zhao, the founder and CEO, also admitted guilt and said he would resign. The news somehow benefited its rival, Coinbase, as seen from the decent numbers it has so far tallied. Total crypto market cap at $1.4 trillion on the weekly chart: TradingView.com As of November, the price of Coinbase stock has made an impressive rebound, coming back strongly from a psychological support level of $70. In the last few days, this upward trend has pushed the price of the asset to a remarkable $115, which is a 62% climb. Based in San Francisco, the Nasdaq has listed Coinbase as a public company since 2021. The last time COIN was worth this much was in May 2022, just before the bubble burst for Terra and most of the digital asset economy crumbled along with it. Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 – Details Analysts said that the Binance legal ruling could also be good for Coinbase because it could make it easier for US regulators to grant permission for a Bitcoin exchange-traded fund (ETF). A Bitcoin exchange-traded fund (ETF) is a type of investment trust fund that lets buyers benefit from changes in the price of Bitcoin without actually holding the cryptocurrency itself. It works like a regular stock on a stock market, helping investors buy and sell shares that give them ownership in the Bitcoin ETF. Bitcoin is what the ETF is based on, and its value is linked to the success of the crypto asset. Meanwhile, as COIN surges to an 18-month high, nearing the $117 mark, speculation arises about the possibility of it reaching $150. The impressive rally showcases the platform’s resilience and market confidence. Investors are keenly observing whether this upward momentum will persist, potentially propelling Coinbase to new heights. The crypto community awaits eagerly, anticipating whether COIN will continue its ascent towards the speculated $150 milestone. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Freepik

Arthur Hayes encouraged fellow Bitcoin enthusiasts to stay focused, highlighting a significant uptick in dollar liquidity.

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The price of Ethereum has been on a steady and monumental rise in the past few weeks, and the last seven days have not been much different. The altcoin breached the $2,100 mark on Friday, November 24, with its sights now set on new yearly highs. Interestingly, a recent on-chain revelation has shown what could be behind the latest ETH price surge while offering insights into the future prospects of the cryptocurrency. On-Chain Data Shows Whales Continue To Buy ETH Renowned crypto analyst Ali Martinez, in a post on X, revealed that Ethereum whales have been active in the crypto market over the past few days. According to on-chain data from Glassnode, ETH whales have been accumulating the altcoin for nine consecutive days. Ethereum whales increase balance for nine days in a row | Source: Ali_charts/X Related Reading: Ethereum Outperforms Bitcoin: Is The Altcoin Season Officially On? Notably, Martinez highlighted that this is the first 9-day accumulation spree in over nine months. Furthermore, the crypto analyst noted that “the increasing buying pressure could be a strong signal for ETH bullish price action.” Changes in whale accumulation are often closely monitored in the cryptocurrency space because of how large crypto holders can influence the market dynamics. The steady buying pressure displayed by Ethereum whales over the past nine days suggests a growing optimism amongst this class of investors. Another analyst offered a similar on-chain perspective to the growing accumulation by Ethereum whales. The crypto pundit revealed – via a post on X – that the 200 largest Ethereum wallets now hold a collective 62.76 million ETH (worth about $132.1 billion). According to data provided by Santiment, this whale class has accumulated 30.3% more coins since November 21, 2022. Additionally, these 200 largest Ethereum addresses hold about 52% of Ether’s circulating supply.  Ethereum Price – Where Next? While Ethereum’s price broke above the $2,100 mark on Friday, it has since retraced below the price level. However, there is much optimism around a continuous upward movement for ETH, especially as it still trades above the significant $2,044 resistance zone. Many investors might want to keep an eye on the cryptocurrency’s price action by the end of the week, though. According to an analyst, a close above $2,130 on the weekly timeframe will be pivotal for Ethereum’s price trajectory. Related Reading: Grayscale’s Bitcoin ETF Conversion Could Lead To $2.7 Billion Exodus: JPMorgan As of this writing, ETH is currently valued at $2,086, reflecting a negligible 0.2% in the past 24 hours. Nevertheless, the cryptocurrency has managed to maintain most of its gain on the weekly timeframe, having swelled by more than 8% in the last seven days. Ethereum price revolves around the $2,100 mark on the daily timeframe | Source: ETHUSDT chart on TradingView Featured image from Unsplash, chart from TradingView

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