In two weeks, the total value of assets locked in Solana-based DeFi protocols has declined from 12.03 million SOL to 10.23 million SOL, the lowest since April 2021, according to DefiLlama. TVL, though an imperfect measure, is widely tracked to gauge the usage of smart contracts. Source
Bitcoin Cash has followed the general growth trend of Bitcoin with the price almost clearing the $250 resistance before being rejected. Even though BCH maintains this bullish momentum, it is not completely in the clear following its delisting from one crypto exchange. EDX Markets Delists Bitcoin Cash In another unexpected blow, Bitcoin Cash (BCH) has been delisted from the EDX Markets crypto exchange. Users had first suspected that the exchange was ending support for BCH and rumors spread like wildfire through social media. Eventually, the crypto exchange will confirm these…
Supported by a spike in volatility, the Solana price has skyrocketed from its yearly lows into a new high. The bullish momentum left some players in disbelief, while others capitulated to the price action and tried to capture some of the profits. As of this writing, SOL trades at $40 with sideways movement in the last 24 hours. Over the previous week, the cryptocurrency recorded a 30% profit, but the monthly chart saw a 70% increase, while other tokens hardly saw double-digit gains. SOL’s price trends to the upside on…
As Bitcoin (BTC) continues to consolidate above the $34,000 mark, aiming to surpass and reclaim its yearly high, theories suggest that a retracement may follow the current upward spike in the coming weeks. On this matter, the renowned crypto analyst known by the pseudonym “Crypto Soulz” recently shared insights on the potential short-term retracement for Bitcoin in a recent post on X (formerly Twitter). BTC’s Local Top At $36,000 Signals Potential Reversal According to Crypto Soulz, a key resistance level for Bitcoin is identified at $37,370. The analyst suggests that this…
Lookonchain pointed out that the last two Novembers have not been good ones for SOL. While the reasons seem obvious – early November 2021 was the epic top of the entire cryptocurrency market and November 2022 included the FTX meltdown – Lookonchain noted that the Solana Breakpoint conference, an annual gathering for the ecosystem, is an early November event (this year’s version is currently taking place in Amsterdam) and has coincided with local tops in price. Source
“If bitcoin is up at least +100% by this time of the year, then there is a +71% chance or five in seven that bitcoin would finish the year higher with average year-end rallies of +65%,” Markus Thielen, head of research and strategy at Matrixport, said in a note to clients on Thursday. “As bitcoin tends to reach its peak by December 18th, we could call the six to seven weeks from early November to mid-December Bitcoin’s Santa Claus Rally.” Original
Cryptocurrency prices reacted positively to the Federal Reserve’s latest decision on interest rates on Nov. 1. Defi tokens like AAVE and Uniswap (UNI) led the way, rising over 20% in a moment. AAVE rose to $98.13 and Uniswap’s UNI rose to $4.80. These tokens are thriving due to the overall significance of the cryptocurrency rally. In the case of Uniswap, the rally means demand for cryptocurrencies will increase as investors try to follow the crowd. In the stock market, it was already seen Coinbase’s share price skyrocketed this week. When…
Recent financial maneuvers by Ripple Labs have caught the eye of crypto sleuths again. Recent data from crypto data analysis platform Whale Alert has shown a significant movement of 800 million XRP tokens back into Ripple’s established escrow system. This move comes in the aftermath of Ripple’s customary monthly unlocking of one billion XRP, a practice that started in 2017 as part of the company’s strategy to maintain XRP price stability. Ripple Returns 800 Million XRP To Escrow The essence of Ripple’s escrow mechanism is to facilitate a consistent and…
While the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) will likely spike the price of Bitcoin, some analysts are concerned it won’t be enough to fully thaw the markets from its winter chill. On Oct. 24 Bitcoin staged its largest single day rally in over a year, surging more than 14% on the news that the ticker of BlackRock’s spot Bitcoin ETF — IBTC — had been listed on the Depository Trust & Clearing Corporation (DTCC) website, something markets understood as a positive step forward for the funds’…
Ethereum price popped above the $1,850 resistance against the US dollar. ETH is showing positive signs and might soon climb toward the $2,000 resistance. Ethereum is slowly moving higher above the $1,850 resistance zone. The price is trading above $1,820 and the 100-hourly Simple Moving Average. There was a break above a key declining channel with resistance near $1,818 on the hourly chart of ETH/USD (data feed via Kraken). The pair is signaling bullish signs and a possible move toward the $2,000 resistance. Ethereum Price Aims Higher Ethereum formed a…