Markets

Tesla (TSLA) stock price dropped yesterday by 4.10% to close the day at $1476.49. However, the stock is up today. The fall is attributed to a downgrade call by Bernstein analyst Toni Sacconaghi.One of the leading coronavirus stocks used to be the one from Tesla Inc (NASDAQ: TSLA), however, the price rally seems to be running short of fuel in the last few days. It cannot be exactly substantiated as to why the shares are retracing, but several fundamentals can be pinpointed.On Tuesday, TSLA...

Nexo-Tron partnership introduces the first ever TRX-backed fiat credit line to accept TRON (TRX) as collateral.Nexo and TRON Foundation have come together to oversee further TRX adoption through DeFi utility. According to a joint press release, Nexo will list TRX as a collateral for its customers. As a result, it will create the first-ever TRX-backed fiat loans. As the global crypto market divulges into altcoins utility, the new TRX market will greatly enhance its utility and in turn improve...

Representing the latest addition to the Binance growth outreach, Binance Australia will provide the entire features that are available on the main Binance platform.The Binance exchange is extending its grip one of the world’s market leader with the introduction of a fiat-to-crypto trading platform by its new entity in Australia. Binance said that the new trading platform will provide its Australian users with a fast, secure, and reliable platform to buy and trade digital currencies with the...

With an increase of 43% in 2020, Tencent has added $197.74 billion to its market value on Tuesday, pushing its market cap higher than that of Facebook.Tencent Holdings Ltd (HKG: 0700) has become more valuable than Facebook Inc (NASDAQ: FB), shooting past the American social media giant. After a huge rally in Tencent, the company added about $200 billion to its value on Tuesday. Thereafter, Tencent, the world’s largest video game company, was ranked the seventh-largest globally.Founded in...

The recent surge in the price of Bitcoin has caused a corresponding boost in the BTC futures market which has an open interest at the $5 billion mark.Following the latest surge in the price of Bitcoin (BTC), the entire futures market has seen consistent growth as data from data analytics company Skew revealed. There are currently about $5 billion aggregate open interest across the Bitcoin futures market representing the total value of outstanding trades held by investors, the highest recorded...

Messari crypto researcher, Ryan Watkins, has recently delved into the market values of the decentralized finance sector, comparing it to some of the other players in the crypto industry. He concluded that DeFi is still a minnow despite its massive growth in popularity this year.The entirety of what we call DeFi is worth less than both XRP and Bitcoin Cash alone.Despite its rerating over the past couple months, DeFi is still extremely small in perspective.1/ pic.twitter.com/rd4LZbDeu6— Ryan...

ADA price tested the $0.1500 resistance zone and corrected lower against the US Dollar.The price is currently trading well above the $0.1400 level and the 55 simple moving average (4-hours).There is a key contracting triangle forming with resistance near $0.1495 on the 4-hours chart (data feed via Kraken).The price is likely to accelerate higher if there is a clear close above the $0.1500 resistance.Cardano price is trading in a nice uptrend above $0.1350 against the US Dollar, similar to...

After several days of gains, Bitcoin has stalled a bit around the $11,000 mark. Simultaneously, most large-cap altcoins have managed to increase their value against both the US dollar and BTC.Bitcoin At $11,000The past several days were nothing short than impressive for the primary cryptocurrency. Its $2,000 price surge came somewhat surprisingly for some, but BTC reclaimed successfully, firstly $10,000, then the significant $10,500 resistance.Bitcoin also attempted to conquer $11,000 on a...

Bitcoin price rallied more than 15% and it broke the $11,000 resistance zone.A new monthly high is formed near $11,412 and the price is consolidating above $10,500.There is a short-term contracting triangle forming with support near $10,800 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).The pair might correct lower in the short-term, but dips remain well supported near $10,300.Bitcoin price is trading in a strong uptrend above $10,500 against the US Dollar. BTC could...

The big news today is that bitcoin is just shy of hitting the $11,000 mark, but now that the world’s number cryptocurrency by market cap is on a fresh high, many altcoins are beginning to retrace their steps and fall to lower numbers.Altcoins Are Hitting Fresh Lows as BTC RisesAt the time of writing, several of the crypto space’s leading altcoins are up against the U.S. dollar, but down when compared with bitcoin. Ripple (XRP), for example, is the world’s third-largest cryptocurrency by...