Markets

Crypto industry leaders are pillorying a new U.S. government report claiming that digital assets can help criminals flout federal sanctions law. In a blog post from the U.S. Government Accountability Office (GAO) last Tuesday, authors asserted that foreign states working against American interests – including Iran and North Korea – “are using digital assets to evade the impacts of those sanctions.” How Effective Is Crypto For Dodging Sanctions? The report said that digital...

Tether (USDT) reserve on Bitfinex has seen a significant increase owing to whales on the platform. According to CryptoQuant’s analysis, the whales on Bitfinex have opted to close their leveraged positions, leading to a substantial surge in the USDT reserve on the platform. This strategic move has garnered attention, shedding light on intriguing aspects of market behavior. Tether Reserves on Bitfinex Amid recent fluctuations in crypto prices, significant traders are choosing...

A market sell-off of Bitcoin (BTC) has pushed fear into the buoyant sentiment, deflating the mood. A BTC drop to $40,000 could see alts fall by 20-30%. Greyscale Bitcoin Trust sellers seem to be the main culprits. There is still plenty of sell pressure to be absorbed into the order books. The question is if up-and-coming projects like Galaxy Fox ($GFOX) can provide a safety net from the volatility. Bitcoin ($BTC): A Potential Drop To $40,000, Havoc For Altcoins A market-wide...

Stellar lumen price is moving lower from the $0.1260 resistance zone against the US Dollar. XLM price is now trading below $0.1180 and the 55 simple moving average (4 hours). There is a connecting bearish trend line forming with resistance near $0.1150 on the 4-hour chart (data feed via Kraken). The pair could extend its decline below the $0.1120 support zone in the near term. Stellar lumen price is trading below $0.1180 against the US Dollar, like Bitcoin. XLM...

XRP price started a fresh decline from the $0.600 resistance against the US dollar. The price is now trading below $0.565 and the 55 simple moving average (4 hours). There is a key bearish trend forming with resistance near the $0.5385 on the 4-hour chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it breaks the $0.520 support zone. XRP price is struggling below $0.585 against the US Dollar, unlike Bitcoin. The price could...

Despite a challenging market and waning trust in centralized crypto entities, Binance Labs disclosed 25 new investments in 2023. In the latest report, Binance Labs primarily focused on decentralized finance (DeFi), Web3 gaming, tooling, and infrastructure throughout the year. In the DeFi sector, Binance Labs invested an undisclosed amount in the lending and borrowing protocol Radiant Capital. Additionally, it allocated $5 million to support Curve DAO Token (CRV) for its...

Despite positive developments such as the approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission, Bitcoin’s price encountered significant rejection, resulting in a notable 17% decline. However, as the cryptocurrency approaches a crucial support region, there is potential for a renewed bullish movement. Technical Analysis By Shayan The Daily Chart Analyzing the daily chart, Bitcoin’s attempt to overcome the substantial resistance at $48K was met with...

Roughly a week after the United States Securities and Exchange Commission (SEC) approved the first wave of spot Bitcoin exchange-traded funds (ETFs), BTC investor demand in the country has slumped. According to a weekly report from market intelligence platform CryptoQuant, the weak BTC demand from U.S. investors is evident in crypto exchange Coinbase’s premium turning negative for the first time in 2024 amid high selling activity from short-term holders. BTC Investor Demand...

TL;DR Cardano’s ADA rallied substantially last year, with potential for more growth in 2024 due to multiple factors. Analysts point to further catalysts such as recent developments and the outcome of Coinbase’s lawsuit involving ADA for potential price increases. Considering ‘Various Factors’ Last year has been highly successful for Cardano’s ADA, which rallied over 140%, reaching the $0.60 mark on New Year’s Eve. We decided to ask the popular AI-powered chatbot – ChatGPT –...

Bitcoin’s untypical lack of volatility continues as the asset has failed to move during the weekend from the $41,500 mark. Most altcoins are also quite sluggish now, with minor gains seen from the likes of ETH, SOL, XRP, BNB, and ADA. BTC’s Stagnation Continues The ETF approvals from last week came amid enhanced volatility that saw BTC going up and down by several thousand dollars. The peak came on Thursday when the products reached the US financial markets, and Bitcoin...