Month: January 2024

Analyst Warns Of Steep Drop To $2,000

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Since Ethereum (ETH) peaked at $2,717 in the last two weeks, the asset has experienced a gradual decline, culminating in its arrival at a key demand zone, which could be instrumental in determining its imminent price trajectory, according to a prominent crypto analyst. Critical Support Zone Flags Continuous Bearish Move Renowned crypto analyst Ali has pinpointed a critical demand zone for ETH, ranging between $2,388 and $2,460. The resilience of this support level could pave the way for an upward trajectory, offering Ethereum a much-needed respite from bearish pressures. However,…

Ethereum Futures Market Cool Off Sets Stage For ETH To Rally: Quant

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An analyst has explained that the latest cooldown in the Ethereum futures market could suggest there is potential for a price rise to resume for ETH. Ethereum Funding Rates Have Seen A Decline Recently An analyst in a CryptoQuant Quicktake post explained that the ETH funding rates have seen a cooldown from their previously overheated levels. The “funding rate” refers to the periodic fees that futures contract holders on derivative platforms currently exchange with each other. When the value of this metric is positive, it means that the long contract…

BTC Volatility Shrinks Amid Continued Investment Inflow into BTC Spot ETFs – Blockchain News, Opinion, TV and Jobs

By Matteo Greco, Research Analyst at the publicly listed digital asset and fintech investment business Fineqia International (CSE:FNQ) Bitcoin (BTC) wrapped up the week at around $41,600, marking a slight 0.4% from the prior week’s closing value of approximately $41,750. The price displayed reduced volatility compared to the previous weeks, finding increased stability following the SEC’s approval of the ETFs, putting an end to speculation on the matter. The introduction of the new BTC Spot ETFs attracted funds from traditional finance to the digital assets market. The 11 Spot ETFs collectively attracted around $1.15 billion…

Crypto enthusiast Ron DeSantis drops out of US Presidential race

An advocate of the crypto community, American politician Ron DeSantis withdraws from the race for the U.S. presidency paving the way for Donald Trump. In his post on X, the politician announced he did not see a clear path to victory and said he would be suspending his campaign effective immediately. DeSantis emphasized that he would support fellow party member Trump, who, according to him, is superior to the current Democratic President Joe Biden and deserves “another chance.” The statement came after the internal Republican elections in Iowa where DeSantis…

Aave V3 Ready For Solana After This Crucial Vote Passed

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The Aave community has overwhelmingly approved a proposal that will set the ball rolling for deploying Aave V3 on Solana, a smart contracts platform. The motion, put forward by the Neon Foundation and the Aave Chan Initiative (ACI), passed with a majority vote of 83% based on results posted on January 21. Aave TEMP CHECK voting | Source: Snapshot.org Solana Fast Rising, DeFi Ecosystem Active Solana has been rapidly expanding, with its native currency, SOL, emerging as one of the top performers in 2023. To put it in perspective, SOL prices…

Coinbase’s Grewal scrutinizes US GAO’s report on crypto’s role in sanctions evasion

Coinbase CLO Paul Grewal slammed the U.S. GAO’s crypto report as ‘shoddy work,’ accusing it of sensationalizing crypto’s role in sanctions evasion. Coinbase‘s Chief Legal Officer Paul Grewal has publicly criticized the U.S. Government Accountability Office’s (GAO) recent crypto report, accusing it of clickbaiting the topic of crypto usage in sanctions evasion. Grewal, who joined Coinbase in 2020, highlighted in an X thread several shortcomings in the GAO’s analysis and questioned the taxpayer funds allocated to what he called “shoddy work.” Zero comparative analysis performed. Heck, zero analysis whatsoever performed.…

Digital asset investment products saw $21m in outflows

Investment crypto products’ outflows amounted to $21 million last week. According to a CoinShares report, outflows from investment products into digital assets were modest at $21 million last week. However, this figure masks very high Bitcoin (BTC) trading volumes last week, totaling $11.8 billion, seven times the average weekly trading volume in 2023. Source: CoinShares Geographically, capital inflows into the United States totaled $263 million, while Canada and Europe saw outflows of $297 million. Analysts suggest that such trends are explained by the migration of assets to the United States.…

How To Buy, Sell, And Trade Tokens on The Polygon Network

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Polygon (formerly Matic Network) is a game-changing Layer 2 scaling solution that addresses Ethereum’s scalability challenges. It empowers developers to create and deploy scalable, interoperable decentralized applications (dApps) by utilizing sidechains, plasma chains, and innovative scaling techniques.  If you’re unfamiliar, sidechains are unique blockchains that are bound to the main Ethereum blockchain and are effective in supporting many Decentralized Finance (DeFi) protocols available on the Ethereum network. This enables rapid transaction speed and cost-effectiveness while maintaining the security and decentralization of the Ethereum network. As a Layer 2 solution, Polygon…

“DOGE Is Essentially The Same Thing As BTC”

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Dogecoin (DOGE) has recently received support from the crypto community and some negative comments from recognized crypto actors. A discussion sparked on the X platform (Formerly known as Twitter) after Dogecoin’s Founder Billy Markus, also known as Shibetoshi Nakamoto, responded to a clip of the comments made by Ripple’s CEO Brad Garlinghouse about the memecoin. Brad Garlinghouse “Doesn’t Get” Dogecoin Last week, an X user uploaded a clip from the “Clear-Eyed About Crypto” panel at the World Economic Forum (WEF) meeting in Davos, Switzerland. In the clip, the CEO explained…

Glassnode Sets $120K Price Prediction For 2024

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Bitcoin (BTC), the largest cryptocurrency in the market, has encountered a significant downturn following the waning hype around exchange-traded funds (ETFs), resulting in a 9% decline over the past fourteen days.  However, Glassnode co-founders remain optimistic, asserting that the recent price corrections align with historical patterns and could propel Bitcoin to new heights, nearly doubling its current all-time high (ATH) of $69,000. Healthy Market Correction? In their latest analysis, the co-founders of the blockchain analytics firm posted on X (formerly Twitter), highlighting Bitcoin’s movement to the 6.618 Fibonacci Extension after…