Tag: Altcoins

Altcoins ‘bled’ with Bitcoin’s dominance hike in Q2: CoinGecko

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The second quarter of the year has been a solid one for Bitcoin’s performance as its market dominance gained against altcoins which “bled” throughout the quarter according to CoinGecko. On July 18, the crypto data aggregator released its industry report for Q2 2023 which noted Bitcoin (BTC) and Ether (ETH) continued to build upon their Q1 gains over Q2. Meanwhile, Binance Coin (BNB), XRP (XRP) and Cardano (ADA) suffered double-digit losses over that time. CoinGecko said BNB and ADA saw the largest losses as both were labeled securities in lawsuits…

Crypto Whales Send Hundreds of Millions of Dollars Worth of Bitcoin and Altcoins to Exchanges As Markets Pause

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Crypto whales have suddenly come to life in the last 24 hours, with massive amounts of coins being sent to exchanges as markets start to show signs of possible weakness. Blockchain monitoring service Whale Alert has spotted numerous large entities sending large stacks of Bitcoin (BTC) and other digital assets to various crypto exchanges. Whale Alert spotted two transfers of Ethereum (ETH) worth over $40 million from unknown wallets to crypto exchange Coinbase, just hours apart, before another wallet was spotted sending $28 million in ETH to Gate.io. Hours later,…

Bitcoin addresses with over 1 BTC hit ATH as XRP fuels altcoins rally

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Glassnode’s latest on-chain metrics show the number of bitcoin wallets holding over 1 BTC has hit a new all-time high (ATH), indicating investor optimism in the crypto markets. The court decision that XRP is not a security has brought about positive reactions from market participants, as it challenges the Securities and Exchange Commission’s (SEC) stance on token classification.  Ripple CEO Brad Garlinghouse has praised the ruling, asserting that it will likely positively affect other digital tokens…

Celsius Network Moves $64M in LINK, MATIC, AAVE and Altcoins Following Court Permission to Sell Tokens for BTC, ETH

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BNB’s soaring futures open interest and regulatory woes weigh on the altcoin’s price

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The price of BNB token has experienced a 24.5% decline over the past 90 days, despite a 7% gain between July 10 and July 11. BNB has performed worse than the overall altcoin market, indicating that the underlying cause for the bearish momentum persists. It is highly likely that the correction in BNB’s price can be attributed to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance exchange and its CEO Changpeng “CZ” Zhao on June 5, as the decoupling coincides with that event. BNB/USDT (blue)…

How Argentina’s inflation is helping altcoins and the crypto market

On today’s Macro Markets show, veteran stock market and Cryptox analyst Marcel Pechman starts by analyzing Argentina’s 150% inflation, which proves that people continue to work and consume (somehow) even if their local currency loses its value. What is the lesson here? For starters, everyone wants free money. That explains why altcoins and airdrops continue to attract attention, regardless of whether the majority of investors end up being unprofitable. You might think that those investors would quickly learn their lesson, but in reality, quite the opposite occurs. All it takes…

Celsius to convert its altcoins to bitcoin and ether

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bankrupt crypto lender Celsius Network has been granted permission to convert its altcoin holdings into bitcoin (BTC) and ethereum (ETH). The move will allow the company to distribute funds to its creditors in the two most widely used cryptocurrencies.  Celsius Network, a bankrupt crypto lender, has been approved by the US Bankruptcy Court for the Southern District of New York to convert its altcoins into bitcoin or ether.  The court order, issued by Judge Martin Glenn…