That’s the message from the imbalance between potential sellers and buyers in bitcoin’s aggregated order book across 33 centralized exchanges. The gap between the total dollar value of orders to sell bitcoin, the so-called ask side, and orders to buy, the bid side, within 2% of the market price has widened to nearly $100 million, according to Paris-based Kaiko. That’s about five times its usual value. Original
The Solana decentralized finance (DeFi) sector is experiencing a period of phenomenal growth, with decentralized exchanges (DEXes) witnessing record-breaking trading volumes and the native token, SOL, reaching a new 20-month high. However, amidst the euphoria, experts advise caution due to potential market risks. Solana: ‘Greed’ Index While Solana’s DeFi landscape flourishes, it’s crucial to acknowledge the potential risks associated with the current market sentiment. Market data from CFGI indicates that the current sentiment is characterized by “Greed,” implying a scenario where the market might be overbought. This raises concerns about…
Unlicensed cryptocurrency platforms will not be allowed to operate in Hong Kong starting next June, according to the Securities and Futures Commission (SFC). The commission closed the period for these institutions to introduce their applications to obtain a license on February 29 and will progressively expel the noncompliant exchanges from the Hong Kong market. Hong […] Source
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. After Bitcoin halving, miner rewards will drop by 50%. The event occurs every four years and it aims to rein in internal inflation. As Bitcoin becomes scarcer, and assuming sustained demand, prices trend to go up. So far, Bitcoin is soaring as the demand for spot ETFs explode. Prices recently shot above $68,000. Amid this, new altcoins like InQubeta (QUBE), an AI-focused project, is also benefiting. InQubeta: Linking…
WIF traded nearly $1 billion in the past 24 hours, CoinGecko data shows. It is the first major meme token with a price of over $1. Meme tokens usually tend to have a significantly large circulating supply – and prices of any major meme, such as dogecoin (DOGE) or shiba inu {{SHIB}], have never crossed the psychologically large $1 mark. Source
“This partnership is really about giving our users what they want – more control over their crypto, in a straightforward way, using platforms they already know and trust,” said Lorenzo Santos, senior product manager at Consensys (the developer behind MetaMask). Source
Analysts at QCP Capital note that despite Bitcoin’s quick drop to $59,000, funding is back to sensible levels and the more likely scenario is the outperformance of the ETH/BTC pair. In a volatile overnight session, Bitcoin (BTC) quickly set a new all-time high of $69,400 only to undergo a rapid decline, plummeting to $59,200 within a matter of a few hours. This steep downturn resulted in the liquidation of over $1 billion worth of leveraged long positions on Binance alone. However, as noted by analysts at QCP Capital, the market…
On Tuesday, Nexo announced its Dubai entity, Nexo DWTC, had secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to engage in virtual asset lending, borrowing, and broker-dealer activities within the UAE’s most populous city. Nexo Gains Initial VARA Approval for Dubai Crypto Operations The crypto lender Nexo received a provisional “Initial Approval [IA]” […] Source CryptoX Portal
Fetch.AI (FET) has demonstrated remarkable performance in the crypto market today, securing its position among the top-three performers. The asset witnessed an impressive 17% gain within the last 24 hours, marking a significant milestone by crossing the $2 threshold for the first time ever. This surge, propelling Fetch.AI to the 64th place among the top cryptocurrencies by market cap, is a testament to the growing investor confidence and market optimism surrounding its technological advancements and future potential. Why Is Fetch.AI Price Up Today? This surge in FET’s price can be…
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