Over the past month, we’re seen a noticeable drop in correlations (daily returns) within the digital asset market, with BTC versus ETH correlations dropping, altcoins to CoinDesk 20 rising, and crypto vs equity market correlations flipping positively. Source
The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 31, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Transaction volume on the Solana network crossed $1 trillion in January, a multi-year high. According to The Block’s dashboard, transaction volume is up 30% from December 2023, at $738.8 billion. Online transaction volume has hit a record high since September 2022, at $1.55 trillion. Source: The Block Experts note that the growth in blockchain activity is significantly higher than in 2023 and through much of 2022. For example, in September 2023, transaction volume on the Solana network reached a low of $40 billion. In January, the number of registered addresses…
Amid the recent rally that Bitcoin (BTC) experienced at the start of the week, several well-known cryptocurrency analysts seem to be bullish about the largest crypto asset, delivering multiple positive predictions for BTC in the short and long term. Bitcoin Poised To Hit The $60,000 Price Mark One of the famous crypto analysts who has recently shared exciting and positive predictions for Bitcoin is Ali Martinez. Martinez, known for his enthusiasm for cryptocurrency, took to the social media platform X (formerly Twitter) to share his projections with the community. The…
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XRP (XRP) whale transactions have seen a remarkable increase recently, spiking by a massive 198% over the past 24 hours, as the cryptocurrency witnessed massive selloffs that have plummeted its price to the $0.51 support level. Data from Santiment validates this observation, indicating a surge in XRP whale engagement. Notably, whale transactions valued at least $100,000 exhibited a significant downturn on Jan. 27 and 28, falling below both the 400 threshold and the monthly average. XRP price, social volume and whale activity – Jan. 31 | Source: Santiment However, these…
Expectations of lower rates became widespread as inflation receded in 2023 and the Fed hinted at a pivot to rate cuts at its December meeting. According to the Fed funds futures market, traders are anticipating 140 basis points of rate cuts this year, nearly double the amount signaled by the Fed’s interest-rate projections chart, the so-called dot plot, in December. Source
Former British Chancellor George Osborne addresses guests during a visit to the Manchester Chamber of Commerce on July 1, 2016 in Manchester, England. Christopher Furlong | Getty Images LONDON — A former British finance minister on Wednesday joined cryptocurrency exchange Coinbase as a global advisor, beefing up the company’s regulatory bargaining power at a time when it faces severe scrutiny stateside. Coinbase announced that George Osborne, who served as Britain’s chancellor of the exchequer from 2010 to 2016, will join the company on its global advisory council. He’ll join the…
Cayman Islands, Cayman Islands, January 31st, 2024, Chainwire The QRDO Foundation, dedicated to the growth and development of the QRDO ecosystem, has announced a strategic partnership with EQ LAB, a leading blockchain developer lab, to launch the Warden Protocol. This initiative accelerates the upcoming launch of the Warden Protocol, an intent-based interoperability protocol built on Cosmos and based on the Fusionchain primitive. Introducing the Warden Protocol The Warden Protocol is a modular intent-centric blockchain built on the Cosmos-SDK. At its most basic level, it enables users to create Spaces and…
XRP price is moving lower below the $0.5200 support. The price could gain bearish momentum if there is a close below the $0.50 support. XRP is showing bearish signs below the $0.525 and $0.512 resistance levels. The price is now trading below $0.520 and the 100 simple moving average (4 hours). There was a break below a key contracting triangle with support at $0.5220 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair is now at risk of more downsides below the $0.5000 support zone.…