Day: February 6, 2024

Bitcoin, Ethereum price gaps narrow on U.S. crypto exchanges post-spot ETF approvals

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Bid-ask spreads on major U.S. exchanges like Coinbase and Kraken have tightened post-spot ETF approvals, signaling enhanced market liquidity and depth, analysts at Kaiko say. Bid-ask spreads for Bitcoin (BTC), which represent the difference between the highest bid and lowest ask prices, have decreased significantly post-approval, indicating an improvement in market liquidity and deeper trading activity. In a recent research report, analysts at Kaiko revealed that U.S.-based crypto exchange Kraken experienced the highest volatility in spreads during January, reaching a peak of 10 basis points on Jan. 20. Similarly, spreads…

Chainlink and Solana holders diversifying into streaming platform

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Many regret not investing in Bitcoin (BTC) earlier on. Presently, altcoins, especially DeeStream (DST), are being monitored by Chainlink (LINK) and Solana (SOL) holders. Chainlink is under pressure Chainlink is up 3% in the past day, expanding with falling trading volume. With trading volume down by 30%, it suggests that there has been a shift in market dynamics, possibly hinting at sellers. Solana’s outlook Solana is down by 6%…

Market Dip? Not for Dogecoin Wallets As Over 400,000 New Users

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Dogecoin, the Shiba Inu-faced cryptocurrency born from a meme, finds itself in an intriguing scenario. Despite a recent 23% price plunge since December, the network is experiencing an unprecedented boom in user adoption, marking a fascinating dichotomy in its current state. DOGE Frenzy: Wallet Growth Skyrockets 86% On the bullish side, non-zero wallets, indicating active users holding DOGE, have witnessed a staggering 7.2% growth since January 22nd. This translates to roughly 414,000 new wallets joining the network in just two weeks, representing the fastest growth in Dogecoin’s decade-long history. These…

LMAX Exchange Connects with 4OTC’s Libre Liquidity Bridge

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LMAX Exchange, which allows institutions to trade foreign exchange, announced today (Tuesday) its connection with 4OTC’s Libre Liquidity Bridge service, which will enable liquidity providers to stream FX liquidity on the exchange “with ultra-low latency.” 4OTC offers connectivity services for both digital assets and forex. Its Libre service provides co-located connectivity to multiple liquidity providers and venues trading digital assets and forex. To LMAX Exchange, Libre will offer connectivity to London (LD4), New York (NY4), Singapore (SG1), and Tokyo (TY3). Further, it will enable the exchange to streamline connectivity management…

British Columbia Court upholds moratorium on crypto mining projects in Canadian province

A recent ruling by a British Columbia Supreme Court Justice, Michael Tammen, has affirmed the provincial power utility B.C. Hydro’s decision to implement a moratorium on new cryptocurrency mining projects. The latest decision came as a response to a challenge by Conifex Timber, a forestry company that had ventured into cryptocurrency mining alongside the Tsay Keh Dene Nation, an Indigenous group. In the Feb. 5 ruling, Justice Tammen deemed the moratorium, established in December 2022, a prudent measure aimed at managing the province’s electrical supply amidst soaring demands from the…

Crypto Analyst Highlights Why XRP Price Is Ready For Takeoff

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In a technical analysis, crypto analyst Dark Defender has provided a bullish perspective on the XRP price action, indicating that the cryptocurrency is on the cusp of a potential breakout. The analysis presented is based on a daily chart that encapsulates several advanced technical indicators and theories. Why A XRP Price Breakout Is Imminent The core of Dark Defender’s analysis is the completion of a five-wave corrective structure, as posited by Elliott Wave Theory. This theory suggests that markets move in repetitive cycles, with the five-wave pattern indicating a correction…