Crypto news

Bitcoin futures interest tapped an all-time high in US dollar terms on Monday, reaching over 500,000 BTC worth $36.3 billion. Analysts say the overwhelming surge in open interest relates to a clever arbitrage play levied by institutional traders between Bitcoin’s futures and spot markets. The Cash And Carry Trade In a Tuesday newsletter, lead Glassnode analyst James Check theorized that leveraged funds are simultaneously shorting Bitcoin on the CME while buying up coins in...

Since Dogecoin’s debut in 2013, the meme coin market has seen significant growth, reaching a total market cap of $60 billion by June 2024. In March alone, the asset class attracted a whopping $13 billion in spot trading volumes on exchanges, surpassing major blue-chip cryptocurrencies such as Ethereum and Solana. However, this sector is grappling with risks. Red Flags Identified in Meme Coin Investments According to CoinShares’ latest report, the heavy concentration of assets...

ZKsync, one of the most popular Zero Knowledge (ZK) rollup layer 2s, announced its airdrop for next week. Those using ZKsync Era – the layer 2 chain – can secure ZK tokens in their wallets. The project’s tokenomics dedicates 17.5% of the 21 billion tokens from its eventual supply for the airdrop. While it is impossible to know the dollar value surely until the airdrop concludes, industry experts suggest it can amount to over $2 billion in value. 89% of that value will get airdropped into...

Fiat-pegged stablecoins have grown in market cap over the past ninety days as they collectively witnessed $16 billion flow into their side of the crypto market. However, the past month has been relatively calm for the stablecoin economy. USDT’s (Tether) market cap has grown to $112.5 billion on June 8 from $101.18 billion in March. That is over $11 billion in the three months, with USDT representing 69% of the $16 billion that flowed into stablecoins. Its market cap barely rose over the past...

In a new announcement, Charles Hoskinson, the founder of Cardano (ADA), revealed further details about what he claims is the most crucial event in ADA’s history. Meanwhile, Notcoin (NOT) whales are looking at crypto in Stage 2 of its presale – DTX Exchange (DTX). Many analysts peg this token as the next $0.5 coin in 2024, making it a good crypto to buy. Cardano (ADA): Chang Hard Fork To Bring a New Dawn Cardano (ADA) has been making waves in the crypto market as one of the best cryptos...

The weekend dump dragged Litecoin’s price below $80 as the cryptocurrency experienced significant sell pressure. The accumulation over the past couple of weeks failed to drive the price higher, but the latest data suggest two potentially bullish indicators for the altcoin, predicting a recovery. Litecoin’s Active Addresses Spike According to the popular crypto analytic platform, Santiment, the number of addresses interacting on the Litecoin network more than doubled starting...

Bitcoin’s price has failed to keep up its upward momentum and has yet to set a new record high above the $75K level. Given the current price action, even a deeper correction is probable. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price dropped below the $68K support level a few days ago. It has dropped back inside the large descending channel, making its recent breakout fake. The $60K support level seems like a valid target for the upcoming...

Despite an attempt at making higher highs in early June, momentum has shifted in favour of sellers. Key Support levels: $0.000018 Key Resistance levels: $0.000025   1. SHIB Loses Key Level Market participants were hoping SHIB can hold the $0.000025 level as a key support that can send the price to new highs. Unfortunately, this was short-lived. Sellers took back control of the price action and turned this level into a key resistance. Chart by TradingView2. Bulls on the...

TL;DR Polkadot (DOT) is trading at around $6.37 amid a market correction, with analysts predicting a potential rise if it surpasses key resistance zones. The Relative Strength Index (RSI) indicates the asset might be poised for an upward trend, with current levels suggesting it is not overbought. Bears Might Get Disappointed Polkadot’s DOT is yet another cryptocurrency heavily affected by the ongoing market correction. It currently trades at around $6.37 (per CoinGecko’s...

The US Department of Labor dropped quite the bombshell on the crypto-verse on Friday, as the updated non-farm jobs for May caused a massive sell-off on most crypto projects. The influential Bitcoin was included in the decline phase, and crypto whales are off to other projects for their profits this summer. Solana’s (SOL) price is trading at losses on the weekly timeframe despite a spike in DeFi activity on the blockchain. On the other hand, Shiba Inu (SHIB) is attracting whales, as bulls...