Markets

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...

Crypto market analysis platform CoinGecko has provided a breakdown of the industry’s growth in 2023 amid optimism and anticipation about several events this year, including the recent approval of spot Bitcoin exchange-traded funds (ETFs) and the upcoming Bitcoin halving. According to the report, the market witnessed substantial growth in several areas, including decentralized finance (DeFi), non-fungible tokens (NFTs), centralized exchanges (CEXs), and decentralized exchanges...

Increasing interest rates, regulatory actions, financial insolvencies, and instances of fraud have significantly contributed to shrinking the overall digital asset economy in the past year. The world’s second-largest stablecoin – USDC – wasn’t immune to these forces either. The total circulating supply has declined from approximately $45 billion to about $25 billion by the conclusion of November 2023. The rise in interest rates in conventional markets elevates the opportunity...

The latest TokenInsight report reveals that 2023 witnessed shifts in market share and trading volume among top exchanges, with Binance’s numbers decreasing from 54.2% to 48.7% while OKX’s and Bybit’s increasing by 4.3% and 2.2%, respectively. Binance, Upbit, and OKX occupy the top three positions in total annual trading volume, while Binance, OKX, and Bybit are in the lead regarding derivatives. Binance’s Market Share and Resilience At the beginning of 2023, Binance held a...

Perhaps the most important development in terms of global validation for BTC in its 15-year-long history came last week when the US Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs to be traded on financial markets. These approvals were long-anticipated by the crypto community, as well as traditional investors, but they turned out to be a sell-the-news event, after which the price of the underlying asset slumped by 15% in a week or so....