Altcoins

Jerome Powell – chairman of the Federal Reserve – appears to have reversed one of his previous positions on the relationship between CBDCs and stablecoins. Testifying in front of the US congress, he suggested that both could co-exist, without the former replacing the latter. Allowing Stablecoins and CBDCs. Powell discussed the possibility of a Federal Reserve issued CBDC during his renomination hearing on Tuesday. Republican Senator Pat Toomey – a known crypto advocate –...

GameStop is getting more involved in the cryptocurrency and non-fungible token (NFT) spaces. According to many mainstream sources, the company has developed a team of approximately 20 individuals at the time of writing to establish a whole new market designed for selling virtual items, which may include in-game tokens and cosmetic skins. GameStop Is Getting More Involved in Crypto NFTs have become one of the biggest trends in the digital asset space. Now valued at...

ADA price started a fresh decline from the $1.35 resistance against the US Dollar. The price is now trading below $1.20 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $1.165 on the 4-hours chart (data feed via Bitfinex). The price might start a fresh increase if it manages to clear the $1.20 resistance zone. Cardano price is struggling below the $1.20 resistance against the US Dollar, unlike bitcoin. ADA price...

Ethereum price started a fresh decline from the $3,250 resistance against the US Dollar. ETH price is now trading well below $3,500 and the 55 simple moving average (4-hours). There is a key declining channel forming with resistance near $3,150 on the 4-hours chart (data feed from Coinbase). The pair could start a steady upward move if there is a move above the $3,200 level. Ethereum price is struggling below $3,200 against the US Dollar. ETH/USD remains at a risk of a...

2022 has not started off well for most cryptocurrency traders. At the time of writing, bitcoin – the world’s number one digital currency by market cap – as well as many of its altcoin cousins are experiencing bearish activity that has seen them endure some of their biggest price drops in months. Bitcoin and Other Assets Are Experiencing Heavy Dips Bitcoin, for example, is presently trading for around $43,000 per unit. This is about $25,000 less than the all-time high it...

Stellar lumen price declined heavily below the $0.2800 support zone against the US Dollar. XLM price is now trading below $0.2800 and the 55 simple moving average (4-hours). There was a break above a declining channel with resistance near $0.2588 on the 4-hours chart (data feed via Kraken). The pair could start a steady upward move if there is a clear break above $0.2800. Stellar lumen price is trading in a positive zone above $0.2800 against the US Dollar, similar to...

Ripple price started a fresh decline from the $0.8650 zone against the US dollar. The price is now trading below $0.8000 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.7800 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to move down if it stays below the $0.8000 resistance. Ripple price is struggling below $0.800 against the US Dollar, like bitcoin. XRP price...

Bitcoin’s situation worsened once more hours ago as the asset dropped to a new three-month low beneath $41,000. Most altcoins are in a similar position today, and the overall losses from the past three days grew to $300 billion. Bitcoin’s Latest 3-Month Low It’s safe to say that the primary cryptocurrency has seen better days. In fact, they weren’t all that long ago as it traded at $47,000 on Thursday and even tried its hand at $48,000 on Wednesday. However, the bears took...

After the enhanced fluctuations in the past several days, bitcoin finally calmed around $42,000. The situation with the altcoin is quite similar, except for Chainlink. LINK surged by 13% and trades above $26. Bitcoin Sits Still at $42K It’s safe to say that the past few days didn’t go well for the primary cryptocurrency. On January 5th, it traded at $47,000 after failing to overcome $48,000 despite numerous attempts. This is where the landscape changed rapidly for the worse....

If the market crash got you nervous and you thought the crypto industry was dead, you might want to change your mind. PayPal, the global e-payments giant, is working on developing its own cryptocurrency. PayPal is exploring the development of a stablecoin, possibly pegged to the U.S. dollar, although there is no information on a roadmap for the project. Speaking to Bloomberg News, Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at PayPal,...