Day: January 7, 2022

Market Wrap: Crypto Traders Reduce Leverage, Selling Pressure Subsides

Bitcoin stabilized at around $41,000 on Friday and is down about 9% over the past week. Analysts expect prices to move sideways, although they may be vulnerable to further declines if technical support levels are breached. The reduction in leverage in bitcoin and ether futures markets could signal healthier market conditions. Typically, there is a lower chance of additional downside volatility when traders reduce their position sizes. Earlier this week, “based on liquidation data, it seems like a few leverage traders tried to speculate on a rebound and got burned…

Cosmos ecosystem tokens rally after Evmos promises Ethereum interoperability

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The wider cryptocurrency market is facing another day of volatility and selling on Jan. 7 as Bitcoin (BTC) bears managed to break bull support at $42,000. The price of Bitcoin was pushed to a daily low of $40,620 before resources were exhausted.  Data from Cointelegraph Markets Pro shows that four of the top seven gainers of the day are part of the growing Cosmos Hub. This ecosystem currently uses the Interblockchain Communication protocol (IBC) to facilitate interoperability and communication between connected networks. Top 7 coins with the highest 24-hour price…

Here are the most predictable tokens of 2021 — For those who knew where to look

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Digital assets’ past performance is never a guarantee of future price movement. There are never two identical situations in the crypto market, so even historically similar patterns of a token’s behavior can be followed by starkly different price action charts. Still, crypto assets’ individual history of price action often rhymes, giving those who can ready this history a massive edge over other traders. And, importantly, some tokens are much more likely than others to exhibit recurring behavior, which makes their bullish setups more recognizable ahead of time. Cointelegraph Markets Pro,…

Pudgy Penguins NFT Project Ousts Founders as Mood Turns Icy

There’s trouble brewing in the huddle. The beloved NFT project Pudgy Penguins voted out its founders on Thursday after they allegedly failed to deliver on stated goals and drained the treasury of funds. And now at least one splinter group is arguing that the entire project should be decentralized, potentially an industry first. Launched in July, Pudgy Penguins has become one of the most successful NFT projects, raking in over 45,400 ETH in sales on NFT marketplace OpenSea. (That works out to about $140 million in today’s ether (ETH) prices.)…

Crypto Exchange Giant Lists Privacy-Focused Altcoin Amid Market Jitters

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One altcoin that’s bringing privacy and scalability to decentralized finance (DeFi) just got a surprise listing on the Crypto.com digital currency exchange app. In a new blog post, Crypto.com says that users can purchase Oasis Network (ROSE) using USD, EUR, GBP and nearly two dozen other fiat currencies. According to the announcement, “The Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Their aim is to fix the high transaction fees and slow throughput currently plaguing other layer-1 networks in DeFi.” The Oasis…

Interest in Bitcoin and Ethereum Slides According to Google Trends Data, NFT Queries Skyrocket – Bitcoin News

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While bitcoin, non-fungible token (NFT) assets, ethereum, and cryptocurrencies had an incredible year in 2021, none of the trends made it into Google’s “Year in Search” review. Currently, interest in bitcoin, in terms of Google searches has dropped considerably since the week of May 16th through the 22nd of last year. Search trends for the term “bitcoin” have slid 72% since it scored the highest score of 100 last May to today’s score of 28. Worldwide Search Queries for ‘Bitcoin,’ ‘Ethereum,’ and ‘Cryptocurrency’ Continue to Slide Interest in bitcoin, NFTs,…

Here’s how Terra traders use arbitrage to profit from LUNA and bLUNA

The end of the year is normally a time to wind down and prepare for the holiday season, but the last few weeks of 2021 saw a crypto market that showed no signs of resting.  One of the headline-grabbing stories related to Terra reaching an all-time high in terms of the total value locked (TVL), and the project surpassed Binance Smart Chain (BSC) as the second-largest decentralized finance blockchain after Ethereum. After reaching the $20-billion TVL mark on Dec. 24, Terra’s TVL has come down to around $19.3 billion at…

How to Stay Sane During a Crypto Crash

In short, those who bought at moments of highest hype are probably feeling some pain right now, but a lot of other holders – those who looked for good entry points to accumulate – are still up big. That’s perhaps the most important lesson in crypto investing: because they are so accessible and liquid, these assets are subject to big, quick swings in sentiment leading to fragile blowoff tops. Even more than in equities, Warren Buffett’s timeless advice applies: Be fearful when others are greedy, and greedy when others are…

Bitcoin Oversold Within Downtrend; Resistance at $45K

Bitcoin (BTC) remains in a two-month long downtrend, defined by a series of lower price highs. The cryptocurrency was down about 9% over the past week as upside momentum continued to slow. There is minor support around $40,000, which could stabilize the current pullback. However, upside appears limited around the $45,000 resistance level. This means buyers could quickly take profits if a price bounce occurs. The relative strength index (RSI) on the daily chart is the most oversold since Dec.11, albeit within a price downtrend. Over the long-term, BTC is…