Markets

The beginning of this week saw a decline in the overall market capitalization of cryptocurrencies, dropping from $1.6 trillion to $1.5 trillion, indicating a day-on-day decrease of over 5%. This market downturn did not spare the native token of the Ethereum-based layer-2 Optimistic Rollup network, OP. Due to the broader market decline, OP incurred weekly losses of over 20%. Despite this, a substantial number of token holders maintained a profitable position. Optimism (OP)...

Cryptocurrency lending platform Nexo is seeking damages worth $3 billion from the Bulgarian government after the latter dropped its criminal investigations against the company. According to Nexo, the investigations allegedly cost the company a major soccer sponsorship deal and a stock market listing in the United States. Nexo Sues Bulgaria for $3 Billion Nexo and its subsidiaries filed an arbitration claim with the International Center for Settlement of Investment Disputes...

In a remarkable show of market performance, the SEI token, hailing from the Sei blockchain, has seen an astronomical rise of over 1,500% since its introduction in August 2023. This surge culminated in the SEI token reaching a zenith price of over $1 on prime exchanges like Gate.io. The Sei blockchain distinguishes itself as a specialized Layer 1 (L1) platform, engineered precisely for the nuances of cryptocurrency trading. Its acclaim lies in its self-proclaimed...

Solana price gained bearish momentum below the $90 level against the US Dollar. The price is now trading below $88 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $85.80 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair could recover, but the upsides might be limited above the $90 resistance. Solana price is trading in a bearish zone below $90 against the US Dollar, like Bitcoin....

Bitcoin price started a fresh decline below the $42,000 level against the US Dollar. The price is now trading below $42,500 and the 55 simple moving average (4 hours). There are two bearish trend lines forming with resistance near $40,950 and $41,650 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could face heavy resistance near the $41,500 zone in the near term. Bitcoin price is declining below $42,000 against the US Dollar. BTC might...

According to the Financial Times, European brokers are slashing spot Bitcoin ETF fees after Invesco and WisdomTree reduced theirs by over 60% on European BTC products. The decision comes as the U.S. Securities and Exchange Commission (SEC) recently approved spot Bitcoin ETFs from major players like BlackRock, Fidelity, and Invesco, resulting in an influx of new investment options for U.S. investors. Fee Wars Move to the European Market Gary Buxton, Invesco’s Head of ETFs for...

Ethereum has currently found itself situated within a crucial demand zone after falling below the $2,300 threshold. While the risk of additional decline in the altcoin’s value, the recent dynamics in Ethereum’s futures market sentiment have been underscored by a critical analysis of funding rates, which serves as a crucial indicator, shedding light on the intensity of orders executed by buyers and sellers. According to CryptoQuant’s latest analysis, this displays an upward...

Despite the excitement generated by the Bitcoin ETF approval, the aftermath has seen Bitcoin (BTC) and many altcoins nosedive. However, Solana (SOL) is defying all odds with the platform memecoins making impressive rallies despite the general crypto market’s negative trends. Meanwhile, Pullix (PLX) has sold over 75 million tokens in the ongoing 6th stage of presale with over $4 million raised. With its hybrid model, Pullix is set to launch its platform soon which investors...

The cryptocurrency market remains very volatile, with crypto coins like Stellar and Shiba Inu experiencing significant price volatility. Meanwhile, Meme Moguls, a new entrant, has maintained stability throughout the past week and is currently selling at $.0.0027 during its presale. Unraveling the Uncertainties Surrounding Stellar (XLM) Price Trends With a 47% price increase over the last year, Stellar token (XLM) has experienced impressive growth. This rise hasn’t been...

Cardano broke below major support as bears took over the market. Key Support levels: $0.38 Key Resistance levels: $0.46, $0.60  1. Key Support Lost ADA lost the support at 46 cents, which has now turned into a key resistance. This is why the price fell by 9% today. Considering the current momentum, the cryptocurrency may make new lows before a recovery can be expected. Chart by TradingView2. Sell Momentum Intensifies This most recent drop took place on increasing volume,...