In bear markets, holders accumulate showing unwavering faith. The other side of that is a decrease in the “willingness to spend” or use the assets. The latest Intotheblock report “highlights the diverging pictures between on-chain demand and accumulation of the largest two crypto-assets.” Some people still have trouble admitting we’re currently in a bear market,
The crypto market is spiraling downwards, especially Ethereum and other altcoins. The overall market cap lost $50 billion last weekend, leaving the current figure at $950 billion. Unfortunately, it eventually lost the $1 trillion mark. The price fall in Bitcoin, Ethereum, and other crypto caused the recent plunge. The trend emerged after the August 26
Ethereum is feeling the pressure this early, with trading volume at the receiving end and impacting the price of ETH. A major event in the crypto industry, The Merge is eagerly anticipated by many. By combining with the Beacon Chain, Ethereum will implement a system based on proof-of-stake. This system will significantly reduce Ether’s energy
The crypto market started climbing downhill after the Federal Reserve August 26 meeting many coins plummeted, including the top two, Bitcoin and Ethereum. As of August 28 and 29, ETH was losing and trading in the reds. But it seems everything is bouncing back to normal. Ethereum started an uphill climb at the close of
The highly-anticipated Ethereum merger is one topic that all hardcore crypto aficionados are talking about. ETH currently trades below the $1.6K level Ethereum price nosedives by 1.24% or trading at $1,570.76 ETH liquidations trigger price spike Investors are debating whether or not the
This is the weirdest bear market to date. It seems like most people were prepared for it, even though the death spirals and Chapter 11 bankruptcies that started it came out of nowhere. In any case, every coin is in the red. The market should be in a state of fear, uncertainty, and doubt. That
The inventor of Ethereum, Vitalik Buterin, gave an interview talking about the current state of the crypto market, its dynamics, and the impact of the crypto winter on developers. The second crypto by market cap has displayed a week with low volatility as it prepares to complete its migration to a Proof-of-Stake consensus with “The
Bitcoin (BTC) pierced the top of a stubborn trading range on Aug. 11 as a decidedly awkward rally took hold of risk assets. Bitcoin retracement warnings intensify near $25,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $24,750 on Bitstamp, marking its best performance since June 13. The pair had attempted
The Goerli testnet was successfully merged to the proof-of-stake (PoS) network, marking the final step before Ethereum’s mainnet transition. The triumphant final testnet merger means the mainnet transition slated for Sept. 19 could go as scheduled. Goerli is the third and final testnet after Ropsten and Sepolia that makes Ethereum’s final rehearsal before its official
Mark Cuban, the billionaire entrepreneur who has been quite active in the crypto ecosystem for the past year, is facing a class-action lawsuit over his promotions of the bankrupt crypto brokerage firm Voyager Digital. The Moskowitz Law Firm filed a civil suit in the United States District Court in Southern Florida against Cuban for promoting Voyager’s
The Atlanta-based crypto payment services company Bitpay has announced that Bitpay’s prepaid cardholders are eligible for cash back rewards if they use their card with participating retailers. The rewards feature stems from Bitpay’s partnership with Cardlytics and cardholders can get up to 15% in cash back rewards on purchases from the service from thousands of
Bitcoin (BTC) price continues to battle at the $24,000 resistance and the price rejected there on Aug. 10, but the rejection was not enough to knock the price out of the 52-day-long ascending channel. The channel has a $22,500 support and this bullish formation suggests that BTC price will eventually hit the $29,000 level by
The Aug. 10 Consumer Price Index (CPI) report shows year-over-year inflation rose 8.5% in July and while this figure is below economists’ expectations of 8.7%, it is still high. Although inflation remains much higher than the Federal Reserve’s 2% target, the marginal slowdown raises hopes that the rate hikes by the Federal Reserve have started to work.
The number of decentralized applications (DApps) on Ethereum-scaling-platform Polygon has topped 37,000, marking a 400% increase since the start of 2022. The Polygon team shared the figures via an Aug. 10 blog post, which was sourced from partnered Web3 development platform Alchemy, noting that the figure represents the cumulative number of applications ever launched on
It’s a story that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada’s then-largest cryptocurrency exchange QuadrigaCX, died under mysterious circumstances in India. But, before his passing, Cotten took virtual keys for digital wallets and moved them into cold storage, leading to the permanent
Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism’s layer-2 chain make up the vast majority of TVL. Ethereum Optimism TVL Surges In anticipation of The Merge update, which
Per a report from news outlet Reuters, payment company Ripple is exploring the possibility of acquiring the assets of bankrupt crypto lender Celsius Network. The purchase might materialize via Ripple Labs, according to a company spokesperson. Ripple Labs is currently in a legal battle with the U.S. Securities and Exchange Commission (SEC) due to the
Bitcoin (BTC) has been posting higher lows for the past eight weeks, but during this time, BTC has not been able to flip the $24,000 resistance to support on at least three different opportunities. This is precisely why the $475 million Bitcoin options expiry on Aug. 12 might be a game changer for bulls. Considering
Data shows the Ethereum open interest has surged up to near all-time high values as the ETH 2.0 merge comes closer. Ethereum Open Interest Has Sharply Risen Up Recently As per the latest weekly report from Arcane Research, the ETH open interest in futures and perps has surged up to 4.2 million ETH in recent
In this week’s newsletter, read about Ethereum co-founder Vitalik Buterin’s proposal for stealth nonfungible token (NFT) ownership. Check out how a CryptoPunk will be split into thousands of pieces to enable smaller investors to access it, and how the NFT play-to-earn game Axie Infinity plans to double down on South Korea despite regulatory hurdles. In