In September 2022, Interchain Foundation, the team behind Cosmos’ development , introduced the Cosmos ATOM 2.0 whitepaper. The document proposed significant changes to Cosmos’s design, including a tokenomics upgrade to fund the Cosmos ecosystem development and reduce ATOM inflation. While the whitepaper launch acted as a bullish catalyst for ATOM price, the community vote to pass the proposal eventually failed, primarily because of its enormity. Some community members wanted to take a measured approach to each development feature listed in the whitepaper, starting with Interchain Security in Q1 2023. Interchain…
Tag: Rally
Bitcoin Extends New Year Rally, Crosses $24,000 Briefly
While Bitcoin may not reach its previous all-time high of $69,000 before the end of 2023, some investors believe that crypto has bottomed out and would begin recovering. Building on its new year rally, the price of Bitcoin crossed the $24,000 threshold on Wednesday night. The upsurge corresponded with a gain in general tech stocks and a drop in the US dollar currency Index (DXY) and US Treasury yields. Bitcoin price has remained closely correlated to the tech-heavy Nasdaq stocks. Its latest rally comes after the Federal Reserve raised its…
Marathon Digital Sells Mined Bitcoin for First Time to Monetize Recent Rally
The miner said in a release on Thursday that the decision was made to cover some of its expenses. “With bitcoin production increasing and becoming more consistent, we made the strategic decision to sell some of our bitcoin, as previously planned, to cover some of our operating expenses and for general corporate purposes,” Marathon’s Chairman and CEO Fred Thiel, said in a statement. The company still holds about 11,418 bitcoin in its reserve. Source
Crypto Market’s Post Fed Rally Continues as DeFi, Smart Contract Platform Sectors Star
Uniswap’s UNI token and Avalanche’s AVAX token were recently up about 4.5% and over 3%; ether rose 3% at one point Thursday following unexpectedly moderate comments from Fed Chair Jerome Powell. Source
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs
On Feb. 1 and Feb 2. Bitcoin’s (BTC) price surpassed even the most bullish price projections after the U.S. Federal Reserve (FED) announced plans to raise interest rates by 25 basis points. Even though FED chair Jerome Powell told investors not to wait for interest rate cuts in 2023, during his press conference he did clearly state that the employment data is currently the main focus. The results of the ADP payroll survey revealed on Feb. 1 that U.S. private sector hiring was significantly slower in January. ADP’s measure of…
Coinbase Shares Soar as Crypto-Related Stocks Continue Post-Fed Rally
Barclays analyst said Coinbase volumes rose 56% in January from the previous month. Source
LBRY Token Rally Stalls as Traders Move on From Court Speculation
LBRY blockchain’s native token LBC is giving back its gains as traders begin to digest the reality of a court hearing. Source
Bitcoin and Hang Seng's Stalled Rally Might Mean Wider De-Risking Ahead, TradFi Firm Says
Failures in BTC and Hang Seng are technical warnings signs that these early 2022 halcyon vibes may not last all year, one observer said. Source
Crypto Market January Roundup: Aptos, Metaverse-Affiliated Tokens Lead Broad-Based Rally
Layer 1 blockchain Aptos’ native token has surged over 387% this month, leading all cryptocurrencies for gains and dwarfing bitcoin and ether’s performance. Solana’s SOL token also rises. Source
Bitcoin on-chain data and BTC’s recent price rally point to a healthier ecosystem
Bitcoin (BTC) had a rough year all throughout 2022. But fresh on-chain and futures market data show positive signs that the leading cryptocurrency by market capitalization has started to recover. After a bevy of short liquidations, the futures market is pointing toward renewed equilibrium. According to data from Glassnode, short position liquidations cleared out unhealthy market speculators, on-chain and exchange data now point to an improving spot market and exchange netflows. A large group of investors that were previously at a loss is now back in the category that Glassnode…