Month: February 2024

Ethereum Price Rallies 5%, Why ETH Bulls Could Aim For $3K This Month

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Ethereum price is up over 5% and there was a push toward $2,700. ETH is consolidating gains and might aim for a move toward $2,800 or $3,000. Ethereum is consolidating gains below the $2,700 resistance zone. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There was a break above a bullish flag pattern with resistance at $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,630 support zone. Ethereum Price Starts Fresh…

Digital Currency Group records 59% rise in revenues despite legal troubles

Digital Currency Group (DCG), the parent company of Grayscale Investments, reported a 59% surge in revenue in the fourth quarter of 2023.  According to Bloomberg’s reports, the company sent a letter to its stakeholders today, highlighting that its revenue escalated to $210 million during the quarter, up from $132 million in the same period the previous year. The firm’s EBITDA reached $99 million, reflecting a profit increase. The financial performance of DCG is closely tied to the broader cryptocurrency market trends, which have seen substantial growth, more than doubling since…

Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction

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Bitcoin price extended its rally above the $48,800 resistance. BTC tested $50,000 and is currently showing signs of a downside correction. Bitcoin price climbed higher above the $48,500 and $48,800 resistance levels. The price is trading above $48,800 and the 100 hourly Simple moving average. There is a short-term rising channel forming with support at $49,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a downside correction below the $49,750 and $49,500 levels. Bitcoin Price Jumps 5% Bitcoin price remained in a…

Chainlink price at risk as whales enter $130M LINK Sell-off

Chainlink (LINK) price has stagnated since breaking above the $20 mark on Feb. 10, as on-chain data trends suggest that whale investors booking profits could trigger a pullback.  Chainlink price has been on an uptrend in recent months thanks to the LINK token’s systemic importance to the burgeoning asset tokenization and Real World Assets (RWA) sectors. An unusually rapid selling trend spotted among whale investors holding LINK threatens to scuttle the rally.  Whale investors offloaded 7 million LINK tokens in last 10 days  Institutional interest in the asset tokenization wave…

Cardano Founder Wants “To Be The Taylor Swift Of Blockchain”

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Charles Hoskinson, co-founder of Cardano, joined Discovery Crypto to discuss his thoughts about the state of the crypto space, what current developments in the industry suggest, and the network’s future as the “Taylor Swift of Blockchains.” Cardano’s Big Reputation The recent interview sparked a discussion about Cardano’s relationship with crypto exchanges like Gemini and other figures in the crypto industry, as the interviewers suggested there appears to be a “coordinated effort to minimize Cardano’s impact.” During this discussion, Charles Hoskinson noted that most players in the crypto space seem to…

Crypto Community Fires Back at Hillary Clinton’s Criticism of Bitcoin Undermining US Dollar as Reserve Currency

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The crypto industry has responded to criticism from Hillary Clinton, who said that cryptocurrency can undermine the role of the U.S. dollar as the world’s reserve currency. Galaxy Digital CEO Mike Novogratz argued that the only thing that can undermine the U.S. dollar as a reserve currency is reckless spending by both U.S. political parties. […] Original

Analyst Highlights Key Resistance And Market Dynamics

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The crypto market is currently abuzz with discussions on Bitcoin (BTC), as it teeters on the brink of reaching the $50,000 threshold. This is fueled by the fast-approaching halving as well as a “bullish divergence” observed over the past week, with Bitcoin breaking past the $48,000 mark. Analyst Analysis On Bitcoin Michaël van de Poppe, a prominent figure in the realm of crypto analysis, recently shared insights on the bullish divergence. Van de Poppe pointed out the notable weekly candle that propelled Bitcoin’s value beyond $48,000, signaling a potential challenge…

Analog Secures $16 Million for Web3 Interoperability Boost, Launches Cross-Chain Partnership Program

On Monday, the Web3 blockchain interoperability platform Analog announced the team has raised $16 million in a funding round from a wide array of venture capitalists and firms including Balaji Srinivasan, Tribe Capital, and Wintermute. Furthermore, Analog has launched its Launch Partners Program to bolster the presence and market dominance of cross-chain initiatives. $16 Million […] Source CryptoX Portal

CryptoQuant Founder Puts $112,000 Target For Bitcoin This Year

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The founder of on-chain analytics firm CryptoQuant has said Bitcoin could reach a target of $112,000 this year driven by the ETF inflows. Bitcoin May Hit $112,000 Based On Inflows Into The ETFs In a new post on X, CryptoQuant CEO and founder Ki Young Ju talked about the outlook of the cryptocurrency based on the inflows going towards the spot exchange-traded funds (ETFs). The analyst has used the “Realized Cap” indicator to find price targets for the coin. The Realized Cap refers to a capitalization model for Bitcoin that…