Markets

The Open Network (TON) has continued to record outstanding growth as the protocol recently saw its active addresses outperform leading blockchains in the industry. According to data from the market intelligence platform IntoTheBlock, the number of daily active TON addresses surged to 3 million in the first week of September. Per the data, this figure exceeded the number of active addresses recorded on major Layer 1 networks, including Bitcoin and Ethereum. TON’s popularity...

There’s been no shortage of news over the past seven days. During this period, the total cryptocurrency market capitalization managed to add close to $140 billion. This happened on the back of significant gains charted by the majority of coins, so let’s take a closer look. First things first, the long-anticipated rate cut is now a fact. The US Federal Reserve announced on Wednesday that it is decreasing interest rates by 0.5%, a considerable move that sent ripples across all...

Crypto investors have had an exciting week so far. With Bitcoin pushing past $62,000, the OG cryptocurrency is grabbing everyone’s attention. However, some analysts think the real opportunities might be with smaller coins. And YouTube analyst Crypto Gains has highlighted two promising names that he thinks could be about to rally: Panda Swap and Pepe Unchained. Crypto Market Heats Up After Fed Rate Cut The crypto market is heating up, and we can thank the Fed for that....

Palo Alto-based crypto custody firm BitGo has launched a new stablecoin, USDS, that is set to go live in January 2025. The company says the stablecoin will be fully backed by U.S. dollars through a mix of short-term Treasury bills, overnight repos, and cash in a bid to ensure liquidity and minimize risk. New Approach to Stablecoin Rewards According to a September 18 statement from BitGo, its proposed offering will differ from existing dominant stablecoins like Tether (USDT)...

Bitcoin’s price finally looks set to break back above the $60K level after weeks of consolidation. However, there is still one more key resistance level that the price needs to overcome. Technical Analysis By: Edris Derakhshi (TradingRage) The Daily Chart On the daily timeframe, Bitcoin’s price is demonstrating a willingness to finally break above the $60K resistance level, following its rebound from $52K. The RSI also shows values above 50, indicating that the market...

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While bitcoin (BTC) faces local resistance levels, the crypto asset is experiencing a rally driven by aggressive spot market activity. According to a Bitfinex Alpha report, on-chain metrics suggest bitcoin’s momentum is currently bullish. This outlook is also reinforced by rising inflows into the United States spot Bitcoin exchange-traded funds (ETFs), signaling growing confidence among retail and institutional investors. Spot Activity Drives Bullish Momentum Bitcoin’s...

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TL;DR Bitcoin shows signs of a potential rally, with some analysts predicting a jump to a new all-time high. Conversely, increased exchange inflows suggest possible short-term selling pressure. Good News for the Bulls? Bitcoin’s price witnessed enhanced ups and downs in the past week, ranging from $56,000 to over $60,500. Currently, it trades at around $59,200, representing a 1% increase on a daily scale. BTC Price, Source: CoinGeckoDespite its wobbly performance lately,...

Typically, a greater flow of new dollars to target lower interest rates inflates the prices of equities and fixed-income bonds. Since the advent of cryptocurrencies, financial markets have found that this new asset class is especially responsive to interest rates and bears an inverse correlation to them. Correlation Spotted: Bitcoin and Interest Rates A recent report from the Fidelity Active Investor Learning Center notes, “While central banks do not control cryptocurrencies,...