Tag: Altcoins

Altcoins Lead Gains and Deutsche Bank to Explore Tokenization

As bitcoin (BTC) moves higher, the recently shorted alternative cryptocurrencies like Solana’s SOL may see leverage liquidations and exaggerated price rallies. Since Monday’s brief move below crucial support at $25,000, bitcoin has risen over 6% to trade near $26,600, CoinDesk data show. Upbeat China August retail sales and factory output data released early Friday revived risk sentiment in financial markets, clearing the way for continued price gains in the leading cryptocurrencies. Bitcoin cash (BCH) led advancers, adding 8% over the past 24 hours. Maker DAO’s MKR followed with a rise…

Bitcoin (BTC) Price Tanks Under $25K, Altcoins Face Even Deeper Crash

Bitcoin and the broader crypto market have come under major selling pressure amid news of the FTX creditor liquidation. On Monday, September 11, the world’s largest cryptocurrency Bitcoin (BTC) faced a major price correction with its price taking a dip under $25K. However, the BTC price has recovered since and is currently trading at $25,807 levels. On the technical charts, the BTC price has formed a death cross pattern with its 50-day short-term moving average having breached its 200-day short-term moving average. This suggests strong bearish formations on the technical…

Altcoins Start the Week in the Red

Ripple’s XRP token has dropped over 5% in the past 24 hours, falling below $0.50 for the first time since July 13. In Ripple’s legal fight with the SEC, the U.S. regulator said Friday it needed to appeal a judge’s decision in July that the blockchain firm had not violated securities law in making XRP available to retail investors. Altcoins across the board are in the red to start the week, with XRP among the worst affected. The CoinDesk Market Index (CMI) is at its lowest point since mid-June. Bitcoin,…

XRP Records Highest Average Daily Trade Volume Among Altcoins In August

Prominent crypto research firm Kaiko reports that the XRP token recorded impressive trade volume strides across August 2023. This development comes amidst the token poor price performance in the said month.  XRP Dominates Altcoin Market In Trade Volume Amidst Price Downtrend According to the latest Data Debrief by Kaiko on September 4, the market research firm notes that XRP recorded an average daily trade volume of $462.8 million in August, representing the highest value of that metric in the altcoin market.  Solana (SOL) followed in second place, with a trade…

Top US Crypto Exchange Coinbase Says It Will Axe Trading Support for Multichain (MULTI) and Five Other Altcoins

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Leading US-based cryptocurrency exchange Coinbase will suspend trading for the crypto asset of the bridging platform Multichain (MULTI) effective September 6th. The decision comes after Multichain advised its users to stop using its services. Earlier this year, the protocol announced that its team members couldn’t find the project’s CEO, Zhao Jun, amid technical issues. “The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for maintenance.” Cybersecurity firm PeckShield also revealed last month that…

Coinbase to delist six altcoins, including OOKI and VGX

Coinbase, the leading US digital asset trading platform, will suspend trading of six cryptocurrencies as part of its regular internal review. On Aug. 23, Coinbase disclosed on X (formerly known as Twitter) that it will delist BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), & Voyager (VGX) on September 6, 2023,…

Bitcoin (BTC) Price Trickles to $29K as Altcoins XRP, SOL, MATIC, DOGE Tumble

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“Current price action is marked by unusually low volatility, low levels of leverage and speculative activity,” Matthew Sigel, head of digital asset research at investment manager VanEck, said in an interview with CoinDesk TV. “Falling volatility has been a trend for much of the past year despite the extreme events which led to the bankruptcy of every major crypto lender.” Original

A ‘Head-and-Shoulders’ Case for Altcoins

A bullish inverse head-and-shoulders price pattern is building in the combined market capitalization of altcoins. The term “altcoin” is short for “alternative coin” and, in this case, refers to cryptocurrencies other than bitcoin, ether and top stablecoins. A potential completion of the pattern would signal “alt season,” or outperformance of alternative cryptocurrencies relative to bitcoin and ether, according to technical analysis by Josh Olszewicz, a crypto trader and former researcher at Valkyrie Investments. Olszewicz analyzed the charts of altcoins, excluding ether and prominent stablecoins. The inverse head-and-shoulders, one of the…

Bitstamp to suspend trading of major altcoins for US users

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Cryptocurrency exchange Bitstamp will suspend trading of Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near (NEAR), Sandbox (SAND), and Solana (SOL) for customers residing in the U.S. beginning August 29. According to the Aug. 8 announcement, trading of the seven aforementioned cryptocurrencies will soon become unavailable for trading for U.S. customers due to “recent developments.” While the firm did not specify the reason for their suspension, all seven tokens are alleged by the U.S. Securities and Exchange Commission to be unregistered securities in its complaints against cryptocurrency exchanges Binance…

Bitcoin Turns Range-Bound Again Amid an Absence of Fresh Capital; Altcoins Dip Further Into Red

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Ether, the second largest crypto by market capitalization was changing hands at $1,843, off 1.3%. Other major cryptos, which spent much of Wednesday in the red, moved more deeply into negative territory. And Litecoin (LTC) recently plunged more than 5%, despite the token’s anticipated halving event, which cut miners rewards in half, curbing the issuance of new tokens. Decentralized exchange Uniswap’s UNI token was off more than 7.5%, while SOL and ADA, the native cryptos of the smart contracts platforms Solana and Cardano, were down more than 2.5%. Original