Day: August 8, 2023

28% Upswing Or 23% Drop Next?

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Cardano (ADA) is currently trading at a pivotal $0.291. The question is: Will ADA experience a 28% upswing or is a 23% drop on the horizon? Remarkably, the ADA price still remains in bearish territory, but the potential for a trend reversal is palpable. Price Analysis: 4-Hour Chart The 4-hour chart paints a picture of ADA trading just a smidge above the 23.6% Fibonacci retracement level, which stands at $0.286. Notably, on Monday, ADA briefly dipped below this level but was buoyed by the ascending trend line (black line) that…

Bitcoin, Ether Flat as PayPal USD Report Fails to Ignite Market; SHIB Finds Support

“PayPal USD (PYUSD), a U.S. dollar stablecoin issued in collaboration with Paxos Trust Co., is a significant development in the digital finance landscape,” said Jeff Mei, COO of crypto exchange BTSE, in a Telegram message. “Signifying the growing convergence between traditional financial systems and the world of crypto, this news is definitely bullish for the crypto market.” Source BitcoincryptoexchangeEtherExchangesFailsFindsFlatIgniteMarketPayPalReportSHIBSupportUSD CryptoX Portal

Binance sold USDC for BTC and ETH after Silvergate Bank collapse: PoR report

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Cryptocurrency exchange Binance released its latest proof-of-reserves (PoRs) on Aug. 1, offering transparency into its crypto reserves. However, the movement of its USD Coin (USDC) reserves at the time of Silvergte’s collapse caught many people’s attention and became a topic of discussion on X (formerly Twitter). The latest reserve audit suggests Binance holds more than enough crypto and cash to cover user funds. The ratio of Binance’s net balances to its customers’ net balances is more than 100% for all its assets as shown in the snapshot below. Binance asset reserve…

Bitcoin turns green as large whales make moves

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) has witnessed high volatility over the past month, but with the current whale movements, the flagship cryptocurrency gained a bullish moment. According to data from Santiment, Bitcoin whale transactions, consisting of at least $1 million worth of BTC, saw a sudden rise over the past 24 hours. Data suggests that the whale transaction count rose from 1,013 on Aug. 7 to 1,579 at the time of writing. BTC price, whale transactions, MVRV ratio, and…

Bitstamp crypto exchange to raise funds for global expansion: Report

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Bitstamp, one of the world’s longest-running cryptocurrency exchanges, is moving forward with its global expansion ambitions, reportedly working to raise new funds to scale operations. Crypto exchange Bitstamp started the fundraising process in late June, with Michael Novogratz’s Galaxy Digital Holdings acting as an adviser, Bloomberg reported on Aug. 7. The firm plans to use the raised capital to launch derivatives trading in Europe in 2024 and expand several of its served markets in Asia. Bitstamp is also looking to scale its services in the United Kingdom, the report notes.…

Can Litecoin Bulls Turn the Tide on Recent Declines?

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Litecoin (LTC) has recently faced a period of bearish pressure that has taken a toll on its market performance. The months of July and August have witnessed a shift in sentiment, as bearish forces began to dominate the crypto market.  As of the latest update, LTC finds itself trading within a critical support zone, prompting discussions among traders and analysts about its potential trajectory. With the value of LTC hovering just below the $80 mark, market observers are closely monitoring whether this level will hold against the prevailing bearish sentiment.…

Is Bitcoin Mispriced? Lessons From Past Volatility Slumps

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Since its inception, Bitcoin has (almost) always been the poster child for volatility. Yet, the Bitcoin price is hardly moving in any direction at the moment. But the latest data suggests a surprising twist in the tale. As per a recent report by on-chain data provider Glassnode, “Bitcoin markets are experiencing an incredibly quiet patch, with several measures of volatility collapsing towards all-time lows.” This raises the question: Are we entering a new era of Bitcoin price stability, or is the market misreading the signs? Historical Context For The Volatility…

Over 66 Fake PayPal USD Tokens Have Popped up on Several Blockchains

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